TALENT MANAGEMENT IS AS CRITICAL AS CAPITAL INVESTMENT

Talent management is a key HR function consisting of Planning, hiring, developing, and retaining the talent in any organization to ensure that the required talent pool is available to sustain the existing business, grow the business, strategic business decisions e.g Joint ventures, merger & acquisitions, setting new SBU. In pre-1950 Era, organizations used to consider and treat talent as “worker/servant” and work culture was restricted to obey the order given by the promoter/manager. With the industrial globalization and consumerism becoming the reality of business scenario, same worker/servant transformed into talent and been accepted as the key role player in business form &performance at any stage of business. In the present day organizations have full-fledged and well geared up HR department which is tasked with Talent management. Talent management is one of the key KRA of HR teams in the organisations. HR teams are tasked with hiring goals with strict timelines and also keeping attrition within control limits. Purpose: Purpose of this study is to understand the journey of the evolution of Talent management from a basic “Worker/Servant” status to “Talent” and its importance in the organization.