Implementing Talent Management and Its Effect on Employee Engagement and Organizational Performance

Abstract

Over the next decade, attracting and retaining skilled workers will be one of the biggest challenges to oil and gas industry success. Talent management is a business strategy that organizations believe will enable them to retain their top talented employees and improve organization's performance. It is the process of effectively hiring the right talent, preparing them to take up top positions in future, assessing and managing their performance and also preventing them from leaving the organization. The performance of every organization depends on the performance of their employees. If the employees have unique competencies which the competitors cannot replicate, the organization automatically gains a competitive edge over its competitors. So, for managing this unique human capital, the organizations are focusing on creating effective systems and processes for talent management and the approaches to assessing current talent management efforts, identifying gaps and opportunities, and developing integrated action plans that is results-oriented and that can be aligned with each company's unique structure and long term goals. This paper highlights the positive relation between talent management and employee engagement, retention, value addition and improved organizational performance. The study reveals that there is positive association between these variables. This paper also verifies what the recent researchers thought about the positive impacts of talent management. The objectives of the study are to show the impact of Talent Management Techniques in the oil and gas industry on employee's engagement, motivation, loyalty, and performance. The present paper has been divided into four sections. In the first part, the changes occurring in the business environment and in particular the challenges faced by the oil and gas industry have been discussed. The second section explores the concept and reviews the available literature on talent management (TM). On the basis of review of literature the factors of talent management were identified and objectives and hypotheses were formulated. In the third section research framework and research methodology finds mention. The fourth section is about results and discussions. observations and conclusions are the harvest of different research methods used in the present study e.g. qualitative and quantitative surveys, interviews, workshops and discussion groups. Such methods are aiming at reaching verified and documented evidences of the actual findings derived from studying the impact of talent management on employees' performance and engagement. Talent management has become a hot topic everywhere. Review of Literature will explore different definitions, approaches and point of views regarding the Talent Management concepts and techniques. The paper links between findings of literature review and actual results and observations related to current oil and gas companies