Effect of Talent Management on Organizational Performance and Sustainability

Abstract

This research work draws the significance of the Effect of Talent Management on newlineOrganization Performance and Sustainability in the Pharmaceutical sector. The study was newlineconducted at three select pharmaceutical companies in Bangalore city. Talent management is newlinea terminology from Human Resource Management representing the commitment of an newlineorganisation in acquiring, retention, utility, career progress, learning and development and newlineperformance management of productive employees through proper planning. Talent newlineManagement enables this planning process and is a properly devised strategy which the think newlinetank of any competent and growing organization devises to augment organization newlineperformance. newlineThe pharmaceutical sector in India is a green pasture and promises to be among the most newlinelucrative in terms of return on investment and growth. Experts have projected that the Indian newlinepharma sector will be globally, among the top ten by 2020, ably supported by government newlinepolicies and the Vision 2020 being a testimony to that plan. However, being a newlinemanufacturing sector it faces problems related to production processes, industrial effluents newlineand other ecological and environmental issues. Therefore organizational sustainability is a newlinefactor that the sector needs to adopt not only to safeguard environment and ecological issues newlinebut also safeguard human resources policies, customers and economic factors. newlineIt is the employees that are the catalysts in ushering this growth along with good strategy and newlineplanning process. Successful organizations proactively and systematically take action to newlineensure that they have the human resource capability to meet their current and future needs. newlineThese organizations have made Talent Management a critical force in their drive for newlineperformance and excellence which can result in the achievement of its sustainability goals. newlineSustainability is not just a buzzword but the need of the hour. Although the sector is a thriving newlinebusiness it is writ with its own volatility, competition and inorganic sporadic growth which newlinecan hamper prospects and disturb optimum performance. It is here that a good human resource newlineintervention through proper planning and implementation is required. newlineThis research work explores how a good talent management strategy can effect and augment newlineorganization performance that will in turn result in achieving sustainability. A questionnaire newlineand interview schedules were drawn for the employees of three select pharmaceutical newlineii newlinecompanies based in Bangalore. All three organizations have their own objectives and goals newlinefor future growth and prospects and have a Human Resources Department with respective newlineplans and strategies. The respondents from the three companies filled in a questionnaire that newlineencompassed aspects of talent management drivers and dimensions of organization newlineperformance. The questionnaire also elicits responses about the sustainability factors although newlineseparate interview schedules were drawn and conducted for executives to seek their opinion newlineand views on their organization s commitment to sustainability and how a good talent newlinemanagement and organization performance results in sustainability. A total of 367 samples newlinewere collected from across the three companies. The total respondents were further bifurcated newlineinto the technical and non-technical employees. The collected data was analyzed using newlinestatistical tools such as Frequency and Percentage, Coefficient of Correlation ANOVA and Chi newlineSquare tests. The demographics too was subjected to analysis based on the age, gender and newlineeducational qualification. newlineSince the framework was a linear one the Structural Equation Model was applied using the newlineAMOS software to fill in the collected responses, to further analyze data. Regression Analysis newlinewas applied to test the effect of all the talent management drivers on organization newlineperformance. The results have been analyzed and discussed based on appropriate hypothesis. newlineA mixed method was adopted using qualitative techniques in the form of oral interviews to newlineestablish the sustainability factors. To summarize, the results and hypothesis drawn was newlinepositive and the research proved that Talent Management effects Organization Performance newlineand this will result in Sustainability newline