Talent Management Practices in the IT Sector:A Pune-based Analytical Study

Abstract

Effective people management is a key factor in an organization's success in a competitive market. Talent management, in its broadest sense, refers to the application of integrated strategies or systems intended to boost workplace productivity through the development of better procedures for luring, nurturing, employing, and retaining individuals who possess the aptitude and skills needed to meet present and future business needs. According to a poll conducted among over 33,000 companies across 23 countries, 40% are having difficulty finding suitable applicants. Socioeconomic and cultural issues have arisen as a result of greater globalization due to the liberalization of trade rules, commercial corporations shifting manufacturing to low-cost locations, and the associated creation of global supply chains. Furthermore, talent today manifests itself in a variety of ways, including tourists, refugees, business travelers, students pursuing degrees, and migrants crossing borders (temporarily or in search of new homes). Thus, international migration is a result of the need for skill. There are difficulties in managing personnel globally, and these issues have a big impact on growth and sustainability. An attempt has been made by the researcher to provide a summary of the talent management strategies used by the ten Pune-based IT organizations that make up the sample of 200 employees. ANOVA and multiple regressions are two statistical procedures that have been used to analyse the data and provide statistical conclusions.