Best Practices for Talent Management: Critical Drivers for Organisational Success and Survival

In this global knowledge-based economy, talent management is found to be instrumental for contemporary organisations, and the success and survival of organisations are directly linked to the practices employed for talent management. Talent management is a process that ensures that organisations have the right number of people and the right kind of people at the right place capable of meeting current and future business priorities. Over the past years, talent management practices have been improperly handled thereby causing organisations to move from surfeits of talent to deficits, then to surfeits and back again. It is on this premise this article explores best practices for talent management that can serve as key drivers for organisational success and survival. It also throws some lights on the growing importance of talent management and factors affecting talent management practices. Managerial implications for Human Resource Practitioners are also included. Keywords: Talent Management, Human Capital, Effective Talent Management Practice, Organisational Success and Survival