Sustaining the right talent through talent management:A way forward for indian companies

In the current market conditions where a cut-throat competition is prevalent between various players in the market, everyone clearly understands the importance of talent management. Talent Management has been highlighted as one of the top 5 key challenges faced by the Human Resource departments across all organizations. As focus is changing from manufacturing to service oriented industries Companies realize that the win or loss in the battle field ofmarkets will be determined by the type and number of knowledge workers they have. Millions and Millions are spent each year to train and nurture these knowledge workers, yet there is always a fear among the organizations of losing these trained soldiers right when they are ready to be a part of the war. Indian companies have been a victim ofeminent attrition rate from last several years. This paper tries to suggest measures for only lower attrition rate but also acquiring, retaining and nurturing the talent available in these companies. A study of how Indian companies shall manage the right talent has been done to gain a better insight into what they are lacking and where the necessary changes are needed.