Talent management: retention perspective

Talent management has gained main stream acceptance in the practitioner community as a key management activity in recent years. The success of any organization depends upon ability to develop its human capital and utilize the same for corporate excellence. Human capital occupies a very important position more than the traditional factors of production i.e. land, labour, capital and organization. The term talent has a broader connation. Talent needs to be viewed in context of the capabilities of people needed to deliver the agenda of the particular organization they work in. Talent management is defined as the system of acquisition, development and retention of competent employees for the achievement of the organization goals. Chartered Institute of Personal Development (CIPD), UK defined “Talent Management as the systematic attraction, identification, development, engagement, retention and deployment of employees with high potential who are of particular value to an organization.