Talent management strategy: A study of private banks in India

There is a strategic imperative for organizations to manage talent. Changing demographic patterns mean that more people are approaching retirement than entering the workforce. Younger generations have different needs and are renegotiating the psychological contracts with their employer. They are quick to move if their organization is not meeting their expectations. Retaining and developing key people in the organization will be a critical success factor in the next 5 years.

One of the problems organizations have is finding a clear definition of talent management. There are a number of conflicting views and many different operational practices. To progress these debates, this research has been set out.

The summary version of the paper details the overarching framework for defining and understanding talent management strategies that was used and developed by this research on private banks in India. This research explores areas of best practice and issues that organizations are struggling with, in order to gain an understanding of the reality of talent management strategies.

The full report covers the main sections detailed below and includes tables detailing the results from the survey 25 HR professionals from Axis Bank and ICICI Bank-30 Employees from Axis Bank and ICICI Bank); extracts have been drawn from the extensive literature review.

Measuring the impact of talent management on business performance: finding the right measure of return on investment is important and should stem from the perspective that is driving the talent management strategy.