Emerging Talent Management Practices in Indian Banking Industry

The human capital has emerged as the make or break factor of any bank survival and growth. Failures in talent management are an ongoing source of pain for executives in modern organizations. (Peter Cappelli, 2008). The talent management is becoming a key theme driving strategic Human Resources Management (HRM). Talent management is critical and difficult because of four trends: 1. ongoing retirement of the "Baby Boom Generation" 2. a widening skills gap 3. work ethics of Gen X and Gen Y workers and 4. large-scale social integration. In the absence of proper talent development strategies, it has been very difficult for retaining the employees them and improving their performance. Capital is human capital as well as financial capital, without the focused efforts of human capital the five major goals of productivity, profitability, quality, customer service and innovation can never be accomplished. Under such circumstances, banks should adopt the following talent management practices in order to gain competitive advantage through knowledge capital and brain wave