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that talent management is nothing but HRM and focuses on the HRM functional areas as recruitment, development, retention, career planning, involvement and appropriate use of talent in specific organizational context (Hilton 2000; Schaufeli and Bakker, 2005). In spite of the broad viewpoint, these authors seem to have replaced the HRM with talent management. The researcher has elaborately discussed this perspective of authors under section 3.2. Under this perspective it is evident that the study is restricted away from strategic HR. Hence, here acquiring, retaining, and developing acts as a common definition of talent management. Furthermore, the second viewpoint considers talent management equal to competence development with a focus on organisation. Here, talent management aspires to enhance the performance among the employees at all the levels. This approach is built on career planning and workforce planning (Lewis & Heckman, 2006; Ashton and Morton 2005; Walker and Lorrocco, 2002). Furthermore, in the second perspective talent management concentrates particularly on the talent pool. Here the authors believe talent management to be a process which ensures availability of rightly skilled employees in a business. This approach is similar to succession planning and the focus is more on the internal employees than the external ones. It is also called as a mindset which forces companies to gain an awareness of the current and future talent requirements, employee's talent and assess it accordingly Lewis and Heckman, 2006; Budhwar and Bhatnagar, 2009). According to Budhwar and Bhatnagar (2009:183) talent management 'involves acquisition, development, and deployment of resources while anticipating and responding to a large variety of market forces'. The third perspective is more rigid compared to the second perspective and lays emphasis on retaining only the best performers. Here it is argued that in an organisation should be filled with top performers and the poor performers should be terminated (Lewis and Heckman, 2006; Collings and Mellahi, 2009).

Importance of Talent Management

When a talent management strategy is implemented it will have an impact on all the units of business as it will apply to all the departments of the organisation. Davis et.al (2007) establishes that talent management will be helpful in identifying each business unit's performance excellence. The rightly skilled employees will deliver superior performance as it is easier to implement the process to accomplish a desired task. Research shows that talent management strategies develop employee engagement (HR Focus, 2006). According to Schaufeli and Bakker (2002:74) employee engagement is a 'positive, fulfilling, work-related state of mind that is characterised by vigour, dedication, and absorption'. Talent management strategies by developing and implementing practices of rewarding and supporting employees ensure employee engagement. With regard to employee engagement the research commissioned by Gallup published that employee engagement is vital to retention. Moreover, (Bhatnagar, 2007; Kilibarda and Fonda, 1997) highlights that retention of employees would save the business from incurring unnecessary recruitment and training costs.

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