ABSTRACT:
This new age economy, with its attendant paradigm shifts in relation to the human capital, in terms of its acquisition, utilization, development and retention, has placed a heavy demand on today’s HR professionals. Today HR is expected to identify potential talent and also comprehend, conceptualize and implement relevant strategies to contribute effectively to achieve organizational 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 to replace valuable employees when they leave, dramatically underscoring the difficulty to attract, motivate and retain the best employees in an organization.
Our project covers the introduction and importance of talent management. It is followed by the application of talent management in National Bank of Pakistan and recommendations for the bank to retain and improve its talent.
LITERATURE REVIEW:
A detailed survey of the concerned literature has been carried out based on various journals, reviews concerned magazines and internet and presented below:
Any Organization needs to have a vision and a well defined strategy on hiring for the future. We should have the right talent to attract and retain the best available talent for which a number of measures for talent management are required. [KARTHIKEYAN, 2007]. Emphasis has been paid on initiatives that can be put in place to help organization to retain and nurture the talent [PANDIT, 2007]. The fundamental aspects about the definitions of human recourses have been discussed and planning of new models has been discussed. The need to disband the conventional school of thoughts about organizational behavior has been advocated and a new approach has been suggested for HR [ANANDARAM, 2007.]
