Role of HR in Talent Management for Building Future Organizational Competence

International Journal of Advance and Innovative Research, Volume 6, Issue 2 (XXXI): April - June, 2019

6 Pages Posted: 30 Jun 2020

See all articles by Chandrakant Varma

Chandrakant Varma

TIMSR, University of Mumbai; Jamnalal Bajaj Institute of Management Studies

Chandrahauns Chavan

University of Mumbai - Jamnalal Bajaj Institute of Management Studies

Date Written: June 1, 2019

Abstract

Over the period of time the business environment has also evolved creating higher demand for skilled and knowledgeable employee, hence arises the requirement for high performing, high potential knowledge workers so as to achieve organizational objective in this global setup. HRM earlier focused on traditional activities of employee entry to exit and being a rigid Center of Investment less focused on Return on Investment. The situation has to evolve into an responsive Talent Management, which focuses on developing talent for future organizational leadership and competency, hence building sustainable competitive advantage. The biggest challenge faced is evolving from being cost center to being a profit center. This further redefining role of HRM in to developing model of Organizational competency management, organizational performance management and organizational leadership development understanding the future developments in the business environment. The technological development has added further to the challenges and difficulties faced. Anticipating changes and the evolution required a planned move accordingly is a key to maintain the sustainable competitive advantage. To match the pace of the globalization and the challenges posed by international companies Indian organizations will have to be creative and innovative in order to retain and attract talent, it is imperative for business organization to adapt to similar or better strategies so as to survive or beat the competition. The research paper is supposed to understand the current talent management practices and challenges faced in the process. Also brings out role of HR in Talent Management and suggests ways to develop a strong process of Talent Management.

Keywords: Talent Management, Sustained Competitive advantage, Human resource Management

Suggested Citation

Varma, Chandrakant and Chavan, Chandrahauns, Role of HR in Talent Management for Building Future Organizational Competence (June 1, 2019). International Journal of Advance and Innovative Research, Volume 6, Issue 2 (XXXI): April - June, 2019, Available at SSRN: https://ssrn.com/abstract=3619645

Chandrakant Varma (Contact Author)

TIMSR, University of Mumbai ( email )

Mumbai
Maharashtra
Mumbai, 400 019
India

Jamnalal Bajaj Institute of Management Studies ( email )

India

Chandrahauns Chavan

University of Mumbai - Jamnalal Bajaj Institute of Management Studies

Churchgate
Mumbai
India

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