Practices of Talent Management in Private Organizations of Bangladesh: A Descriptive Analysis

Abstract

Purpose: This study examines talent management practices in private organizations in Bangladesh, focusing on practical implementation and identifying associated challenges. Methodology: Employing a descriptive research design, data is collected through interviews and questionnaires using a Likert scale from administrative personnel at four organizations in Kushtia. Qualitative and quantitative analysis methods are applied. Findings: Talent management lacks a precise definition but is generally viewed as integral to human resource management. It is recognized as a strategic approach to attract, retain, engage, and develop talent. Competitive compensation, training programs, and a positive culture are key attraction and retention factors. Talent management is considered cost-effective, reducing turnover and enhancing performance. Succession planning is valued for talent development and leadership continuity. Practical Implications: The study offers insights for human resource (HR) practitioners, emphasizing the integration of talent management into HR practices. Competitive compensation, training, and culture-building are essential for attracting and retaining top talent. Viewing talent management as a strategic and cost-effective approach can enhance performance and competitiveness. Originality: This research contributes to the evolving literature on talent management in Bangladesh's unique organizational context, providing a comprehensive analysis of its integration with HR. Research Limitations: Reliance on self-reported data and a regional focus limit generalizability.