Siddhant- A Journal of Decision Making

The business world is more dynamic today than ever before, with an accelerating pace of new technologies, globalisation of markets and competition, regulatory requirements, mergers and acquisitions. In this environment, organisations must continually renew their organisational capability to achieve competitive advantage. Talent management has become an important business issue because the knowledge and talent of workforce represent a singular competitive advantage. Talent management refers to a continuous process of external recruitment and selection and internal development and retention. It is a conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet the current and future organisational needs. Competitive advantage explains and predicts why some organisations are able to attain and sustain performance that earns higher returns. Talent at all hierarchical levels and across all occupations within the organisation forms one of the building blocks of an organisation's competitive advantage.The paper discusses a talent management framework for building competitive advantage in the dynamic environment in context of integrated talent management strategy.