Talent management: Driver for Competitive Advantage

Talent management is recognised as one of the key sources of competitive advantage for the twenty-first century organisations. Therefore organisations who want to thrive in the current highly competitive business environment should not ignore this issue. The purpose of this paper is to provide an insight on talent management in business organisations in the Czech Republic. Specifically, to explore the extent to which these business organisations engage in talent management practices and policies. The findings are based on data collected from 103 business organisations in the Czech Republic. The key finding indicates that although the majority of these organisations recognise the value of talent management in most of them talent management remains in the infancy stage of development. The research survey also highlighted that the most organisations adopt an ad hoc approach to talent management practices. Therefore the shift towards holistic approach and strategic approach to talent management are the most important challenges for these organisations.