Talent Management Strategy for Generation Y and Competitive Advantage

Firm's focus is providing best quality at the lowest cost using its top talent. HR Managers are required to identify impact of values and work preferences for Generation Y. Talent Management strategies like HR Planning, HR Procurement, HR Retention and HR Development are considered vital in gaining a competitive advantage. Banking industry has experienced unprecedented growth coupled with impressive performance. They are assumed to thrive on employee talents and have a high percentage of generation Y workers. Talent management is still perceived to be a relatively new concept and continually an evolving area of research. There are few formal studies that provide explanations on the effective talent management of Generation Y but have concentrated on examining its importance in general without specifically focusing on a particular group. This book notes the strength of the relationship between talent management strategies for Generation Y depends on the level of HR Capability arising from strategies. Commercial Banks should consider leveraging on Generation Y talents and make policies that embrace best HR practices in order to realize a competitive Advantage.