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INTRODUCTION

This new age economy, with its attendant paradigm shifts in relation to the h u m a n
capital, in terms of its acquisition, utilisation, development
a n d retention , has placed a heavy demand on todays HR professionals. Today HR is
expected to identify potential talent and also comprehend, conceptualised
implement relevant strategies to contribute effectively to achieve
organisational objectives. Hence a serious concern of every HR manager in
order to survive this War for Talent, is to fight against a
limited and diminishing pool of qualified available candidates
t o r e p l a c e v a l u a b l e employees when they leave, dramatically
underscoring the difficulty to attract, motivate and retain the best
e m p l o y e e s i n a n o r g a n i s a t i o n . T o analyse the reasons, we first need to
understand what TALENT means .People have different views and definitions.
According to Leigh Branham, vice-president, consulting service at Right Management
Consultants and author of the book, Keeping People Who Keep You in
Business, a talent is not rare and precious. Everyone has talent too many to
possibly name all. Talent is b e h a v i o u r , t h i n g s w e d o m o r e e a s i l y t h a n t h e
n e x t p e r s o n . W e s p e a k o f natural born talent but those with a gift, knack,
ability or flair for something c a n r e f i n e a n d d e v e l o p t h a t t a l e n t t h r o u g h
e x p e r i e n c e . T a l e n t , h o w e v e r , cannot be taught. As someone once said, you
can teach a turkey to climb atree, but it is easier to hire a squirrel.Vice President,
HR of Seagram, Mr. Gopi Nambiar, says talent can be best d e s c r i b e d a s a
combination of abilities and attitudes. The real trick is to m a t c h
the right motivated talents to the right role, individually
a n d collectively, harnessing and harmonizing this crucial attribute to achieve
theobjectives of your company.
Today, companies have become fiercely competitive when it
c o m e s t o attracting and retaining talent. Then, what is it that has really
changed? By focusing on productivity, organisations are realising that it is
imperative to hire employees who can do the job andbe successful at it.

OBJECTIVES
1. To identify various upcoming challenges of talent managemen
2. To establish upcoming trends in talent management.
3. To identify the ways to retain the best talent.

IMPORTANCE OF THE STUDY


The supply side discussed puts pressure on companies to attract the
besttalent and ensure that employees join the company and choose to stay in
theorganization rather than look for opportunities elsewhere. Present study
issupposed to find out the existing Indian talent scenario so as to analyze
itsemerging challenges and trends.

Scope of talent management


In the recent days, the HR Department of any organisation is vested with theresponsibility of
managing the Talent in addition to its conventional function of providing good human capital
to an organization. In order to perform this function,they use the
following methods viz.,1 . I d e n t i f y i n g t h e T a l e n t w h i c h i s r e q u i r e d 2 .
R i g h t S e l e c t i o n o f t h e Ta l e n t 3. Implementing competi
tive compensation
p l a n s 4.Training and continual development of Competencies5.P
racticing state-of-theart performance appraisal systems6 .
A l i g n i n g t h e a c q u i r e d T a l e n t 7. Developing and nurturi
n g t h e T a l e n t , a n d 8 . R e t a i n i n g t h e T a l e n t The scope
of TalentManagement is quite wide and adopts an integrative approachto the functions mentioned

above. The purpose is to have a synergistic effectbetween the various activities so as


to ensure a maxi-maxi effect.