Abstract:
Employees are the backbone of an organization; they attribute a firm its distinctive characteristics and formulate strategies that give the firm a competitive edge in its respective industry. The retention of high performing employees is pertinent for a firm’s strategic success. Hence, talent management is a multi-faceted process aimed to attract, train, develop and motivate employees to showcase their best versions in order to help the organization meet its long-term goals. However, since Pakistan is still a developing nation and is at its infancy stage of implementing effective talent management policies in the workforce, the sophisticated execution of HR practices is still questionable. This study proposes the importance of talent management strategies and emphasizes why organizations need to employ them in their corporate strategies. In order to investigate whether this problem exists as indicated by the literature review, participants were interviewed from the corporate sector of Pakistan. Inspired by the phenomenological research approach the study conducted a thematic inductive analysis on the response gathered. This study investigated whether talent management practices were being employed or not. Based on the findings, talent management practices of retention, attraction and engagement of high performing employees are not being applied and in order to achieve organizational performance, talent positioning and competitive edge. This study also suggested the ideal talent management practices to incorporate in HR practices of the organizations
