TALENT MANAGEMENT, AN APPROACH FOR IMPROVING HR PRACTICES

Abstract

Talent management is still in an emerging phase in the Pakistani banking industry specifically in the public sector and is becoming a key strategic HRM issue for the banking industry. This study adds to our knowledge by conducting interviews with HR executives of the banking industry. Due to a lack of employee knowledge, skills, and experience baking industry is facing challenges to retain employee loyalty even in the technological era. The study aims to identify the issues associated with new, dynamic, and talented employees in the baking industry and the ways to mitigate these challenges. The proper management of new employees will ultimately lead towards competitive advantage hence, the overall effectiveness of the entire business. The qualitative research methodology, inductive research approach, and interpretive research paradigm is used for the data collection and analysis. criterion sampling techniques are used to select the participant in the study, and semi-structured and open-ended questionnaire is used to conduct the interviews. Content and narrative analysis have been done to find out the result. The findings indicated that Talent management is a concept, which helps the organization for managing its hidden potentials, extracts the best out of it. In addition, talent management is aligned with the HR practices including recruitment and selection, training and development, and performance management system.