Impact of Talent Management in Nurturing Future Leaders

Abstract

In the era of globalization almost every organization is devoting considerable energy to build their leadership capacity to gain competitive advantage. Senior executives are rapidly coming to conclusion that distinctive characteristic of successful organizations is the ability to identify, develop and deploy exceptional leadership talent. To cope up with the change enforced by the new worldwidesituation, organizations requiremanagers who have the capability to lead and renovate the organization. But the managers who have leadership skills are extremely rare but the experiment has adequatelyrevealed that most of the leadership skills can be developed. That's why organizations have initiated to employ talent management as an instrument to cultivate the future leaders vital for their endurance in the global set up.Talent Management is a step ahead than human resource management, leadership development or succession planning. It is a collectiveapproach to recruit, retain and develop talent within an organization.This study underlines the increasing effort for leadership development in contemporary organizations and contends how talent management can be used to develop leadership for future competitive advantage.Talent management is not anyfashionable termyetanother academic research which displays numerous ways of applying talent management in an organization.