A Critical Review of Talent Management Practices and its Impact on Business Performance

Talent management practices (TMP) have significant implications for organizations in the contemporary business environment. This has led to the adoption of new approaches towards understanding and evaluating talent management in organizations. Human resource professionals and practitioners have recognized talent as the valuable and longer resource to face competition in the business world. Talent management practices (TMP) mainly consist of acquisition, nurturing, retaining and talent leadership. It has been theorized by many scholars, that talent management practices (TMP) have a positive impact on business performance (BP). Nevertheless, practitioners’ opinions contradict this phenomenon. Thus, the study has taken into consideration this contradictory state and critically reviews the literature on the impact of talent management practices on business performance. The review of literature evidenced that business maturity also affects business performance consistent with TMP. Such understanding is relevant for researchers and practitioners to further develop the work in this field.