THEORETICAL LITERATURE REVIEW ON THE IMPACT OF TALENT MANAGEMENT ON ORGANIZATIONAL EXCELLENCE

Objective: The purpose of this study is to investigate the impact of talent management practices on achieving and sustaining organizational excellence. Theoretical Framework: Forged by the resource-based view and human capital theory, the study defines talent management as a strategic system that includes attracting talent, developing them, managing their performance and retention. Organizational excellence is multi-dimensional construct and includes, but not limited to, leadership quality, workforce capability, innovation, service quality and continuous improvement. Method: A systematic literature review was performed with structured criteria to identify and analyze studies available in major academic databases, such as Scopus, Web of Science, ScienceDirect and Google Scholar. Of the 120 articles that were identified, 54 were included in this review based on pre-established inclusion and exclusion criteria, and an approach to data synthesis that was driven by concept. Results and Discussion: The synthesis shows that talent management practices have a meaningful positive impact on organizational excellence. Talent development and training were found to be most effective, with the impact of talent retention varying by context. The results indicate that internally focused talent practices tuned to strategy make a larger contribution to performance than external hiring alone. Research Implications: The study contributes theoretically by reinforcing talent management as a strategic enabler of excellence and from the practical point of view for any organization's leaders considering embracing hrm in order to embed human capital strategies in their excellence frameworks. Originality/Value: In this study, we offer a brief review of the literature on the impact that talent management has on organizational excellence based on empirical evidence.