Talent Management as Success Factor for Organizational Performance: A Case of Pharmaceutical Industry in Pakistan

Muhammad Umair Abbasi, Muhammad Sohail, Farooq e Azam Cheema, Nadeem Syed

Abstract


Purpose - The purpose of this study is to illuminate the importance of Talent Management Practices for the Pharmaceutical Industry in Pakistan and to impose the organizations for the development and implementation of TM mechanism in the industry that provide tools for achieving sustainable competitive advantages in today's highly competitive environment. Methodology/Sample - Data from the targeted pharmaceutical organizations were mostly obtained personally by researchers through survey questionnaire and structured interviews. The focus of interviews related to top management personnel, human resource experts and professionals according to availability. Findings - The main findings from this research are that talent management practices will definitely increases the performance of the organization. To be successful and gain sustainable edge recommended that organizations must keep eye on their people and take care of them in all manners. This process needed special attention as much as goals of the organization because the talented people are definitely the most valuable asset for an organization. Practical Implications - The essential features to compete and survival in the highly competitive environment the talent plays a vital role in the achievement of an organization's overall strategic objectives and visibly illustrates that the TM practices fully understands and supports the direction in which the organization is moving. Research Limitations - Data confidentiality policy of organizations, time constraint and unavailability of concerned personnel at the time of interviews were limitations in some cases while gathering data.

Keywords : Valuable Assets, Career Planning, Competitive Edge, Talent Management, Performance Management


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