Best Practices for Effective Talent Management in the Manufacturing Industry.

Introduction

To identify the right kind of workforce, talent management is a very important process for the management of the firm (Ulrich & Allen, 2014). Talent management research is not paid enough attention in organizations and there is a lack of definition of the right talent (Gallardo-Gallardo & Thunnissen, 2016). Many organizations face the problem of a lack of adequate talented employees and the right kind of talent (Glenn, 2012). Talent attraction also depends on the status of the employer, the position of management, and the feeling of unity within the firm (Sharma & Prasad, 2018). Talent attraction in any organization depends on an encouraging atmosphere, a friendly environment with peers, supportive leaders, and a good name for the firm in the market. (Deepa & Baral, 2019).

Talent retention refers to the effective approach to maintaining and retaining the topmost talent in the firm (Akram et al., 2020). Talent retention is facilitated by retaining quality and high-level employees to contribute to issues and cope with competition (Rasoulzadeh & Samri, 2020). Retention of talent is facilitated by impartial and fair payment systems (Srihandayani & Kusnendi, 2020). Talent retention is influenced by the just behavior of the management towards its employees. Justice within the firm is linked with a lot of factors and shows a lot of behaviors within the firm (Asplund, 2020).

The learning and development factor of organizations is very crucial as it determines the futuristic behavior of employees (Mazouch & Fischer, 2011). Learning and development of employees includes educating them and training them or else employees may leave the organization (Vostra, Jindrova & Domeova, 2011; Zeman, 2009). For effective learning and development, management must incorporate innovative skills and technologies for employees and make sure employees learn them (Konigova & Fejfar, 2011). For appropriate learning and development, firms should be ready for expenditures on education and competency development, or else employees will not want to remain in the firm (Mraeek, 2009). The learning and development of employees lead to the involvement of employees in the firm on an emotional level (Semwal & Dhyani, 2017).

Career management means how employees choose their careers objectively and develop procedures to achieve them along with identifying their own strengths and capabilities (Greenhaus et al., 2000). There exists a relationship between career management and succession planning of employees (Blackman & Kennedy, 2013). Career management can be brought to place by giving employees chances of developing themselves for their own growth and giving them a sense of pride (Dargham, 2013).

Review of Literature

Attracting and holding higher-level talent through suitable procedures is very important for an organization's image (Oginni & Ogunyomi, 2012; Bouton, 2015). Making an organization attractive is essential as it tells about the various aspects of the firm for employees to be interested in working there along with details of the variety and distinctiveness of the firm (Kumari & Saini, 2018). Unique procedures are applied in organizations for talent attraction of employees (Tyskbo, 2019). Several different studies have shown that appropriate talent attraction practices affect employee skills including placing the "right person at the right job" (Mensah & Bawole, 2020). Also, talent attraction leads to identifying the responsibility of managers and the level of firm's assistance (Bratton & Watson, 2018).

Talent retention deals with the effective leadership and motivation provided by the management to the employees of the firm (Mandhanya, 2015). Retention of employees of any firm depends on the reputation of the firm in the market which include factors like hygiene conditions, working culture, and career advancement opportunities (Holston-Okae & Mushi, 2018). For effective talent retention in any organization, proper payment systems should be in place along with efficient performance appraisal by the management (Latha, 2013). Talent retention depends upon the proper management of the human factor and the employees within the firm (Odunlami & Matthew, 2014).

Learning and development of employees deal with how firms enhance the employee's overall development and skillset (Khawaja & Nadeem, 2013). Employee learning and development consists of a list of tasks and procedures given by the firm for...