Table of Contents

1 Abstract .................................................................................................................................................. 4

1. Introduction ............................................................................................................................................... 5

2 Objectives of the study. ......................................................................................................................... 6

3 Conceptual Review................................................................................................................................. 7

4 Theoretical Framework. ......................................................................................................................... 8

5 Literature Review ................................................................................................................................... 9

5.1 Attraction ............................................................................................................................................... 11

5.2 Retention ........................................................................................................................................... 11

5.3 Employee Engagement ...................................................................................................................... 12

5.4 Factors that limit talent management's application in practice ........................................................ 12

5.5 Talent development process ............................................................................................................. 13

5.6 The effect of talent management tactics on the bottom line of a company .................................... 13

5.7 Impact of Talent management strategies on organizational outcomes............................................ 13

6 The effect of talent management strategies on organizational performance .................................... 14

7 Methodology........................................................................................................................................ 15

7.1 Those involved, and what will happen next ................................................................................ 15

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 7.2 Results and discussions. ............................................................................................................... 15

8 Practical implications. .......................................................................................................................... 18

9 constraints of the study. ...................................................................................................................... 19

10 Conclusion and recommendations. ................................................................................................. 20

11 References ....................................................................................................................................... 22

11.1 Talent Management..................................................................................................................... 25

12 Theoretical Framework. ................................................................................................................... 25

13 Literature Review. ............................................................................................................................ 26

13.1 Attraction. .................................................................................................................................... 26

13.2 Retention. .................................................................................................................................... 26

13.3 Employee Engagement. ............................................................................................................... 27

13.4 Restraining factors influencing the practice of talent management ........................................... 27

13.5 Talent development process........................................................................................................ 27

14 Methodology.................................................................................................................................... 27

15 Results and discussion. .................................................................................................................... 27

16 Conclusion. ....................................................................................................................................... 28

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List of Figures
Figure 1 – Theoretical Framework.
………………………………………………………………………………………………………
..5

Figure 2 – Relationship between Talent management strategies and organizational

success…………….…10

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1 Abstract
Since it handles numerous elements of human resources by enhancing employees' knowledge and
skills through diverse strategies, talent management, an idea is recognized as a foundation in
research related to HR management. This study examines how different talent management
strategies affect organizational performance. The research goals of this project are to establish
talent management's strategic value and (2) establish a link between talent management and
organizational performance.

It was investigated how Organizational efficiency was impacted by how well talent was managed.
Both descriptive and qualitative methods were used in the study. character. Interviews with
managerial staff members of Maldives organizations dealing in HR were conducted to gather
information. The correlation between organizational performance and efficient human
management strategies was high and beneficial, according to the findings. The study's results also
show that talent management is closely linked to external factors such as a company's competitive
advantage and performance as well as internal factors such as the status of talent within the
company. The study's findings will be extremely beneficial for comprehending the value and
significance of talent management, and people can use them to guide the creation of their own
talent management procedures. The paper's limits, practical repercussions, and future directions
are discussed at the end.

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1. Introduction
Talent management is a crucial component of organizational success in a cutthroat market. The
ability of firms to compete for talent to be created or maintained is one of the issues in workforce
management. The economy, globalization, mergers, and acquisitions, as well as other external
forces, have an impact on the challenging nature of talent management. Talent management is
crucial for corporate success in the present market since it allows businesses to retain top
employees while increasing productivity. ( Ifeoma et al., 2015)

Utilizing human intellect is the single factor that sets one organization apart from another. The
performance of the company and its ability to compete rely on its intellectual workforce.
Organizations will inevitably need to address this problem and create a sound plan. Despite the
fact that there are plenty of people on the road, finding professional people is difficult because they
are hard to come by. Due to the lack of qualified people, firms create strategic plans. This can be
utilized to fill the organization's shortage of talented human resources. Companies nowadays are
engaged in a talent battle. (Anwar et al., 2014)

The idea of talent management initially appears in the 1980s. Organizations were separating the
perfect human resources from the others. Prior to the 1990s, it was thought that that time period
had a greater impact on people and their plans for the future. When I started working, it was up to
each individual employee to map out their own professional future. After 2000, businesses began
discussing how they may influence their employees' professional growth by providing them with
opportunities. Employer recruitment, retention, and development are becoming strategic priorities
for businesses. Analyzing the need for talented workers and creating ways to fill that need are the
goals of talent management. Joshi and Rain (2012) found that talent management strategies are
essential for organizational success and assist business executives in creating an effective retention
plan that enables the business to ensure that competent employees are employed in the suitable
place. A lack of skilled people is currently creating a perilous situation in enterprises, claim Makela
et al. in 2010. Managers' ability to translate business needs into talent plans needs to be improved
if the organization is to operate more effectively. Talent management is the sole solution to
organizations' problems in the twenty-first century because change is the only constant. Companies
are struggling with a severe talent shortage. Competitive strategies built with the aid of intellectual
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capital are necessary in this day. It will enable the businesses to outperform their competitors.
Retention, engagement, and attractiveness of the qualified employee are critical in this situation.
By putting competent people according to their job capabilities, talent management plays a
significant role in this regard. ( Anwar et al., 2014)

Companies, industries, and organizations lack the personnel and skills necessary to compete in the
global economy. For instance, there is a predicted severe skill shortage in the fields of customer
service, healthcare, computer assistance, and technology maintenance, which has an impact on the
caliber of services provided by the organizations. The study looks at how talent management tactics
affect an organization's ability to succeed.

2 Objectives of the study.

The goals of the current investigation are as follows.

1. To recognize the strategic value of talent management.

2. Comprehend its contribution to the success and efficiency of organizations.
3. To investigate the connection between personnel management, recruitment,
retention, and engagement

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3 Conceptual Review
"Talent management" is a vague term. To highlight the "strategic" importance of an HR speciality,
it is used far too frequently (methods (such as hiring, picking, molding, etc.) Lewis and Heckman
(2006) analyzed the talent management literature in the scholarly and academic press extensively,
and they concluded that there was a "disturbing lack of clarity." with reference to its idea. Talented
people are those who have the capacity to significantly influence the company's performance both
today and, in the future, (Morton, 2004). An essential part of successful succession planning, this
strategy aims to guarantee that "all of us at all levels performs to the best of their capacity,"
according to Creelman (2004), is "talent management" (Redford, 2005). Talent management is the
process of regulating the flow of ability via the human capital system (Pascal, 2004). The
strategies, roles, and processes that comprise talent management in human resource departments
include recruiting, selection, development, career, and succession planning, to name just a few.

Many TM proponents concentrate mostly on sub-disciplines or niches within HR to boil down

TM's core concepts. Recruiters, for instance, continue to argue over talent management in terms
of finding the best applicants (talent management plan, 2004; Sullivan, 2005), whereas those in
favor of "growing talent" through training/leadership community development (Cohn, Khurana, &
Reeves, 2005); recompense experts openly encounter the use of performance - based compensation
processes (Garger, 1999); and leadership-focused writers frequently discuss the importance of
compensation and performance management systems (Conger & Fulmer, 2003).

These authors instead use the term "Talent Management" in place of the more traditional word
"Human Resources," regardless of how in-depth or absent their point of view may be. The concept
of talent pools is heavily emphasized from another angle on talent management. These authors
claim that talent management (TM) is a set of Methods developed to guarantee a steady influx of
employees into open positions across the entire business (Kesler, 2002; Pascal, 2004; and The
Changing Face of Talent Management, 2003).TM therefore involves locating and appointing
highly qualified personnel who will aid in the accomplishment of the organization's objectives.
There is a lot of evidence to imply that companies are having trouble finding qualified employees
everywhere. By developing better methods for identifying, cultivating, retaining, and employing
workers who possess the necessary skills and aptitude current and future company demands, the
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use of integrated strategies or systems known as talent management is meant to increase workplace
efficiency.

4 Theoretical Framework
The theory of human capital, which is the basis for this study (Becker 1964). According to this
theory, businesses should prioritize investing in their employees because doing so increases their
productivity (Kessler & Lülfesmann, 2006; Lepak & Snell, 1999; Nafukho, et al., 2004; Strober,
1990). This idea can help future researchers better understand how businesses and people decide
whether to invest in human capital. Additionally, expenditures for acquiring, fostering, investing
in people and getting them mobilized are both ways an organization can grow its human capital.
The decisions that businesses make over how to staff their "A" positions can also be understood
using the human capital theory. ( Ifeoma et al., 2015)

Figure 1 – Theoretical Framework.

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5 Literature Review
Develop an integrated proactive people management plan is one of the seven keys to According to
Dell and Hickey, effective talent management, and Lockwood (2002) and Lockwood (2006).
Maintain a balance between management accountability, the business environment of the
company, and planning for the competitive environment. Recognize the reasons why there are
problems with both attraction and retention, harmonize the many retention factors, keep track of
changes, and aggressively market the company's name and products to present employees as well
as to potential new hires. After reviewing the literature on talent management in the scholarly and
scientific literature, Lewis and Heckman (2006) found a "disturbing lack of clarity" with respect
to the concept. And yet, they did manage to pin down the phrase's three most common
interpretations. To begin, talent management is "a set of standard human resource practices
including hiring, training, and planning for future roles." They claimed that the term "talent
management" was nothing more than a trendy HRM euphemism. They did, however, add that
talent management could also refer to a systematized method of conducting these processes, one
that involves the application of technological resources (e.g., the

Internet or specialized software) and operates at the enterprise level. According to Lewis and
Heckman, "talent management is not firmly grounded in research, nor is it different from
established HR approaches or specialties, and is backed solely by anecdote" (2006). They
recommend taking a more strategic approach to talent management and HRM in light of this
finding, as well as conducting additional research into the correlation between these methods and
the success of businesses. In addition to the benefits already mentioned, there are at least two more
important reasons why talent management is so important. This was found to be the case (Ifeoma
et al., 2015).

As a first benefit, efficient talent management helps businesses find and keep top talent. The second
factor is the degree to which this team contributes. "Talent management is critical to involving
employees in the organization," Morton argues (2005). How well an organization deals with each
of these challenges is now crucial to its success or failure. Deloitte (2005) claims that recruiting
and retaining top talent are the two biggest issues in human resource management today. Greater
than 60 countries were represented in the survey's 1,396 human resource professionals.
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Due to the rapidly evolving, dynamic, unpredictably, and intensely competitive global
marketplaces of today, businesses throughout the world must make crucial decisions and overcome
problems in the area of administration of talent on a global scale (Schuler, Jackson & Tarique,
2011; Scullion et al., 2010; Tarique & Schuler, 2010). It is becoming more and more important
for businesses worldwide to manage their talent pools of knowledge workers and high potentials
(Tymon et al., 2010; Vaiman, 2010). Every employer needs to be ready to address emerging
company requirements in a time when doing business overseas is a big topic, claims Gupta (2006).
Talent management is an efficient way to accomplish this. Talent management is becoming more
crucial in predicting both personal and business performance(2015) Ifeoma et al.

Talent management comprises employee growth via a variety of techniques, which covers several
aspects of human resources. Talent management needs to be carefully prioritized by organizations
and integrated into their corporate culture. The two main components of talent management are
attraction and retention. According to the business, personnel are essential to the success of
business operations. Talent management contributes to organizational culture and enables to allow
people to flourish and grow unrestrictedly. From a business perspective, success depends on each
individual's ability to assess their own strengths and weaknesses and then use that information to
to successfully compete with rivals. The development of individuals is the main focus from a
developmental standpoint. Employees apply a method to bring change to the organization,
according to the change management perspective. Talent management, according to Low, always
helps a business succeed and perform better. A study revealed that the company's talent
management processes were integrated. Employee performance and skills will improve if the
organization strategically adopts it. Further research finds that 83% of respondents concur that
management techniques, succession planning, and compensation all relate to talent management
practices. 76% of respondents claim that these actions improve employees' effectiveness in the
workplace. ( Anwar et al., 2014)

A strong talent management program includes hiring, keeping, developing, and promoting talented
employees. Businesses with strong leaders outperformed their rivals by a factor of 13 thanks to
their abilities. Consequently, Kumar (2015) suggested that utilizing talent management
strategically will improve business performance. Studies show understanding the strategic

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significance of talent management in today's global marketplace we live in today. Since businesses
engage on the basis of their human capital, identifying, recruiting, keeping, and developing talent
will provide businesses an advantage. Talent management has had a major impact on the efficiency
of the business. It boosts the company's output, earnings, and productivity. The survey also showed
how important it is for organizations to retain key employees as a personnel management strategy
in order to provide them a competitive edge.

5.1 Attraction
According to a study by Albinger and Freeman from 2000, a company's reputation is a crucial
element in luring top talent. It demonstrates how strongly new hires are drawn to corporations with
a social conscience. The study Neal & Gebauer, 2006 clarified the elements (financial and non-
financial) that drew people to a certain organization. These elements had an impact on people's
decisions regarding employment opportunities within organizations and organization choice.
Work-life balance, competitive salary, and demanding work are some of the key elements to luring
new hires. (Anwar et al., 2014)

5.2 Retention
According to studies by Stalcup and Pearson from 2001, opportunities for career progression,
organizational culture, and work-life balance have all been found to minimize turnover rates in a
firm. A 2003 study found that long-term employee retention gives any company a positive
employer brand. A 2005 study found that having a strong employer brand is crucial for luring in
and keeping key personnel in any business. Neal and Gebauer (2006) discovered that the
organizational culture, work-life balance, management awareness, and employer brand were all
significant determinants of whether an employee would stay with a particular company. The ability
to retain exceptional individuals depends on providing a motivating work environment and a
growing and learning environment. In this aspect, managers are crucial, according to 2006. A 2007
study looked into how work-life balance affected employees' decisions about staying with a
company or leaving. By using human management strategies properly, firms can boost their
retention rate. It improves the company's market position while addressing significant personnel
difficulties. Additionally, the company's standing grows, and it emerges as a distinctive and desired

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employer, which helps with critical personnel retention. The intention of employees to stay or go
can be influenced by a number of crucial elements. (Anwar et al., 2014)

5.3 Employee Engagement

"a higher intellectual and emotional connection that a person feels for his or her job, firm,
management, or coworkers that drives him or her to devote more discretionary effort to his or her
work," as defined by Gibbons. Trust and honesty, the nature of the job, the link between individual
success and company performance, opportunities for career growth, and benefits were among the
top 12 factors for employee engagement, as determined after careful consideration of numerous
papers.

Advancement, sense of company pride, coworkers/team members, employee development, and a

manager's deep connection. Through effective personnel management strategies, rising employee
engagement, and decreased turnover, companies and employees can establish strong relationships.
Engagement among employees has a positive impact on retention.

5.4 Factors that limit talent management's application in practice

Despite the significance and advantages of talent management, as well as how extensively these
concepts are advocated in practitioner literature, it is unclear how widely these concepts are
actually put into practice. Morton (2004) listed a number of "external" variables that may operate
as restraints on talent management practice. These include plans for international expansion,
mergers and acquisitions, and the economy. Given the economy's clear impact on the availability
and demand for human resources, financial ramifications of HR practices are probably self-
evident. Plans for global expansion have an impact on cultural diversity, hiring abroad, and the
requirement to comprehend and efficiently interact with local labor markets. Restraints from
within oneself are another possibility. When it comes to internal factors that affect talent
management, one of the most approach may be what it means Whether it is seen as equivalent to
human resource management practices or workforce planning, the degree to which it is tied to
technology and integrated business systems automation, and whether it is focused on all employees
or just a select few, will undoubtedly have a significant impact on its adoption.

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5.5 Talent development process
Although there are many ways to define the talent development process, it is the process that
encompasses four major categories (Garavan&Carbery, 2012)

1) Acknowledgement (which groups need nurturing?

Consideration (how will the results be analyzed?).

Third, management help for the organization (how can upper management assist).

4. Plan (what skillsets should be cultivated, how quickly, and for how long?).The development of
crosscultural abilities, which are necessary for the majority of foreign occupations, is a significant
result of the talent development process. These competences can be thought of as being both static
and dynamic. Research has found that "international travel experiences" is a significant antecedent
of dynamic competencies, so this is a good example of a dynamic competency. Global experts
agree that effective cross-cultural skills are essential for success in any field the majority of jobs,
both domestically and abroad. This could improve the organization's overall success.

5.6 The effect of talent management tactics on the bottom line of a company
From a financial perspective, researchers look at the relationship between people management
ability and successful financial organizations to demonstrate the advantages of investing in talent
management (e.g., Joyce et al., 2007). Organizations with a deliberate talent management strategy
display noticeably better financial outcomes when compared to their industry peers in terms of
operating profit, sales revenue and productivity, net profit margin, return on assets and return on
equity, or return on shareholders' value and market value.

5.7 Impact of Talent management strategies on organizational outcomes

A lengthy and strong corporate world, a major increase in operational excellence, and better market
access are all reported to have resulted from good personnel management competencies at the
corporate level (DiRomualdo et al., 2009; Steinweg, 2009). (Gandossy and Kao, 2004;
Kontoghiorghes and Frangou, 2009). The reputation and attractiveness of an employer can be
improved through talent management, according to a 2005 Towers Perrin research, but only if the
plan is transparent and unambiguous both within and outside of the company (Sebald et al., 2005).
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6 The effect of talent management strategies on organizational
performance
Studies demonstrate the advantages of employee involvement. Additionally, organizations with
established talent management capabilities experience an uptick in quality and skill levels, an
expansion of their capacity for innovation, an improvement in employee job satisfaction if they
have direct exposure to development and advancement possibilities, and, most pertinently, a higher
talent retention rate overall.

Some academics emphasize the significance and applicability of a corporate-specific skill set that
is transparent, well-communicated, and important for recognizing talent from the outset of staffing
procedures. Other studies emphasize behaviors like a business being understanding of its
employees and responding to their attitudes; they emphasize the favorable impact on
organizational performance when it places a major emphasis on the needs of its people.
(Lockwood, 2006; Ringo et al., 2008)

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7 Methodology.
The study's primary goals are to (1) establish talent management's strategic significance and (2)
link talent management to organizational productivity. The theoretical framework presents a
discussion of how to retain talent and the value of such individuals in enhancing an organization's
performance based on the study's objectives and prior literature. The literature review provided the
foundation upon which we could build our understanding of the talent management principle. The
effect of talent management on the efficiency of organizations was studied. This study is primarily
descriptive and qualitative in nature. This section of the study will detail the methodologies
employed to formulate the study's overarching research questions and objectives.

7.1 Those involved, and what will happen next

Methods from both qualitative and descriptive research are used. Because of the study's breadth
and depth, interviewing was used as the primary data collection strategy. Twenty-five human
resources (HR) managers from three different types of Maldivian businesses are surveyed to gauge
their perspectives on talent management and whether or not a proposed framework is consistent
with their way of thinking. Participants filled out a questionnaire in the style of an open-ended
interview. Appointments and interviews should be scheduled in advance with the necessary
supervisors are made. Using an unstructured sequence of questions, managers assessed the
effectiveness of talent management within the organization. In a month, the interviewing process
was complete.

7.2 Results and discussions.

The study's overarching goal is to gain an understanding of talent management and its significance
to organizational effectiveness. Organizational success can be improved through careful attention
to talent management. Open-ended interview questions were used to elicit the varied perspectives
of managing HR professionals from various companies on talent management.

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Figure 2 – The impact of talent management techniques on businesses.

The first picture above demonstrates how crucial it is to have effective talent management
strategies in order to improve a company's overall performance. When talent management
strategies and performance are in sync, an organization can gain a competitive edge. The second
picture, like the first, demonstrates the significance of staff attraction, retention, and engagement
for effective people management and how may fare better as a result. The correlation between
organizational performance and efficient human management strategies was high and beneficial,
according to the findings.

Furthermore, the findings show that talent management has a positive and significant effect on
performance, talent position, and competitive advantage within any organization. Management of
talent and its significance will be clarified by this study. Businesses can establish, enhance, or
upgrade their talent management processes using these results. The findings highlight the
significance of techniques like talent attraction, recruitment, and engagement in handling talent
inside an organization. If the company wants to gain from having qualified workers and if it is to
develop personnel for the company's future, talent management must be looked into. Work-life

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balance, a good learning environment, and long-term planning are all essential for keeping
employees on board and maximizing their contribution to the company.

Talent management techniques that place a heavy emphasis on corporate strategy and how it relates
to broad company goals have a substantially more significant effect on profit than any other talent
management techniques. It's possible that this is case, for example, given that organizations that
link their HR initiatives to a specific strategic focus save money on coordination expenses and gain
from synergistic effects. Its strong strategic focus on a single, superior goal that is approached in
a systematic fashion may also be used to explain why this talent management strategy performs
better in achieving corporate objectives.

Talent management is seen as a strategy to satiate a company's desire for the right individuals at
the appropriate time and place, and it has a substantial impact on corporate profit. The ease with
which inside replacements can be identified and brought to new professions as compared to
external successors is one way in which it relates to decreased transaction costs. However, since
tried-and-true approaches are simpler for individuals to individually adopt from the past, it appears
that this strategy effectively accomplishes information flow and reduces knowledge loss. This may
also explain for the beneficial influence on talent's job quality.

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8 Practical implications.
Companies can benefit from investing time and energy into developing best-in-class talent
management strategies if they gain a better understanding of efficient people management as a
result. It helps banks gain credibility and attract top talent. This information can be used to enhance
the company's talent management practices, which in turn can boost performance, give them a leg
up in the market, and make it easier to find and hire top talent. It's possible that the following
tactics could be used to improve talent management and recruitment, retention, and engagement.

1. take stock of your company's talent needs and create methods to fill the void by
luring in and leveraging the resources of the organization.
2. To address current workforce challenges, employee retention, and engagement,
management is in a stronger position now.
3. Improved employee-employer relations are a direct result of improved corporate
reputation and performance.
4. Create a workplace where employees feel valued and appreciated.

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9 constraints of the study.
The study is limited in that it does not consider various moderating and mediating factors that could
have an impact on the research.

But this study can be expanded upon by locating any other Maldivian business. There isn't much
research on this subject because it is a novel idea. Different industries, such as call centers,
hospitals, and construction firms, are rising marketplaces and have not yet experienced this idea.
Different metrics can also be used to evaluate talent management. There are various metrics for
determining an employee's attraction, retention, and engagement. According to Neal & Gebauer
[28], learning environments are crucial for employee engagement, work-life balance is critical for
luring in new hires, and organizational culture is crucial for employee retention. Through a variety
of study approaches, the future Regression can be used to evaluate the strength of the dependence
of dependent and independent variables, whereas correlation can be used to investigate
relationships between variables. Investigating the effects of different mitigating factors is possible.

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10 Conclusion and recommendations.
In today's complex and changing business environment, achieve successful Management is
essential for a company's success and expansion because it helps them keep their best employees
and attract new ones. An organization's most valuable resource is its human capital. One of HR's
primary responsibilities is to keep talented workers on the team for as long as possible. Since a
talent management system can aid in attracting and retaining key employees who are crucial to a
company's success and long-term growth, it should be integrated into all facets of human resources
planning.

The main factors driving the demand for talent management solutions in every organizational
sector surveyed are workforce problems and a quickly changing environment. They can consider
the various perspectives on talent management that Blass offers. When managing talent, strategies
like attraction, recruitment, and engagement are crucial. Talent management must be considered
in order for businesses to benefit from competent people and to improve their workforce.

It is apparent that the strategies for talent management, recruiting, development, diversity,
retention, and succession planning are all interdependent. Key employees can be hired and retained
successfully by organizations with the aid of strong talent management. To keep employees and
increase their worth to the company, it's important to consider a variety of factors, including
succession planning, a helpful learning environment, and work-life balance. All organizational
levels must be committed to effective talent management. Employee participation is crucial for
restructuring the banks' organizational structure. By utilizing efficient labor performance,
businesses may effectively establish their position in the market.

The study's results also show a substantial and favorable connection between talent management
and organizational performance, competitive advantage, and talent status. Through this research, I
will better understand the talent management concept and its importance. Their talent management
practices can be improved with the use of these results. Previous studies support the results of this
one. The managerial staff can assist in modifying talent management strategies to increase their
efficacy. They can invest time and money into developing personnel management strategies that
are more successful. It boosts the organization's standing and equips the company with qualified

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staff. They can use these findings to strengthen their talent positions, increase their performance,
and acquire a competitive edge by enhancing their talent management system.

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Talent ship and the New Paradigm for Human Resource Management: From Professional Practices
to Strategic Talent Decision Science. HR. Human Resource Planning, 28(2), 1726.

Heiner F & O’ Neill (2004). Talent planning for the times. Workforce Management, 88(11), 37-
39,41-43.

Table of Contents

1. Introduction ................................................................................................ Error! Bookmark not defined.

2. Objectives of the study ............................................................................... Error! Bookmark not defined.

3. Conceptual review ...................................................................................... Error! Bookmark not defined.

3.1 Talent Management .......................................................................................................................... 25

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4. Theoretical Framework............................................................................................................................ 25

5. Literature Review..................................................................................................................................... 26

5.1 Attraction ........................................................................................................................................... 26

5.2 Retention ........................................................................................................................................... 26

5.3 Employee Engagement ...................................................................................................................... 27

5.4 Restraining factors influencing the practice of talent management ................................................. 27

5.5 Talent development process ............................................................................................................. 27

6. Methodology ........................................................................................................................................... 27

7. Results and discussion ............................................................................................................................. 27

8. Conclusion................................................................................................................................................ 28

1. Introduction.

Talent management is a crucial component of organizational success in a cutthroat market. The

ability of firms to compete for talent to be created or maintained is one of the issues in workforce
management. The complicated nature of talent management is influenced by outside forces
including the economy, globalization, mergers, and acquisitions. In the current market, talent
management is essential for corporate success since it enables firms to keep top people while
boosting efficiency. ( Ifeoma et al., 2015)

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Companies, industries, and organizations lack the personnel and skills necessary to compete in the
global economy. The study looks at how talent management tactics affect an organization's ability
to succeed.

2. Objectives of the study.

The goals of the current investigation are as follows.

4. To recognize the strategic value of talent management.

5. Comprehend its contribution to the success and efficiency of organizations.
6. To investigate the connection between personnel management, recruitment, retention, and

engagement 3. Conceptual review.

11.1 Talent Management.

The term "talent management" is ambiguous. It is employed far too frequently and is frequently
utilized to emphasize the "strategic" significance of an HR specialization (recruiting, selection,
development, etc.)

The concept of talent pools is given significant weight in another approach to talent management.
The goal of talent management is to increase productivity in the workplace by standardizing
practices for finding, training, and retaining employees who have the skills to meet the
organization's current and future needs.

12 Theoretical Framework.
This idea can help future researchers better understand how businesses and people decide whether
to invest in human capital.

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Figure 1 – Theoretical Framework.

13 Literature Review.
Develop an integrated proactive people management plan is one of the seven keys to effective
talent management, according to Dell, Hickey, and Lockwood (2002) and Lockwood (2006). A
strong talent management program includes hiring, keeping, developing, and promoting talented
employees. The study also revealed that key employee retention as a personnel management
approach is crucial for offering businesses a competitive edge. The effectiveness of the company
has been considerably influenced through strategic management of human resources. It boosts the
efficiency, productivity, and earnings of the business.

13.1 Attraction.
According to a study by Albinger and Freeman from 2000, a company's reputation is a crucial
element in luring top talent. It demonstrates how strongly new hires are drawn to corporations with
a social conscience.

13.2 Retention.
Opportunities for career growth, organizational culture, and work-life balance have all been found
to lower turnover rates in an organization, according to research by Stalcup and Pearson from 2001.
Longterm staff retention provides any firm a positive employer brand, according to a 2003 study.

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13.3 Employee Engagement.
Employee engagement, in Gibbons' words, is "a higher levels of intellectual and emotional
investment in one's work as a result of one's identification with one's employer, one's supervisors,
or one's peers."

13.4 Restraining factors influencing the practice of talent management

Despite the significance and advantages of talent management, as well as how extensively these
concepts are advocated in practitioner literature, it is unclear how widely these concepts are
actually put into practice.

13.5 Talent development process.

Although there are many ways to define the talent development process, it is the process that
encompasses four major categories (Garavan&Carbery, 2012)

1. Recognition (who should be developed?

2. Evaluation (what analytical methods to use to analyze effectiveness?).
3. Organizational Assistance (what support can top management provide?).
4. Design (what competencies to build, at what speed and for how long?).

14 Methodology.
It uses both descriptive and qualitative research methods. An interview method was employed to
conduct the inquiry due to the nature and breadth of the research. Data is gathered from 25 HR
related managerial staff of 3 different types of various businesses in order to obtain a variety of
viewpoints on talent management and to see whether a given framework is consistent with the
mindset of managers working in different types of Maldivian organizations.

15 Results and discussion.

When talent management strategies and performance are in sync, an organization can gain a
competitive edge and how important employee engagement, retention, and attraction are to the
success of people management and how companies may perform better as a result is elaborated

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from results gathered. Results showed a strong and favorable association between effective
personnel management techniques and organizational performance.

16 Conclusion.
In today's complex and ever-changing business climate, the ability to attract and retain the best
employees is crucial to a company's continued success and growth.

The findings of the study also demonstrate a strong and positive relationship between talent
management and competitive advantage, performance, and talent status within the organizations.
I will gain a grasp of the talent management idea and its significance from this study. These
findings can be used to improve their talent management procedures.

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