The term “talent management” refers to managing the entire employee lifecycle, from attracting and hiring to promoting and finding a successor upon retirement.clear understanding of the organization’s current and future business strategies. Identification of the key gaps between the talent in place and the talent required to, drive business success A sound talent management plan designed to close the talent gaps. It should also be integrated with strategic and business plans Accurate hiring and promotion decisions .Connection of individual and team goals, to corporate goals, and providing clear expectations and feedback to manage performance. Development of talent to enhance performance in current positions as well as readiness for transition to the next level. A focus not just on the talent strategy, itself, but the elements required for successful, execution. Business impact and workforce effectiveness measurement during and after implementation. Management Leaders are Making Inroads There's no doubt about it - the struggle for top talent has gotten more intense 2009.As a result, more and more leading-edge companies are looking to identify, foster and develop better performance from within. And they're making huge inroads towards winning the war. The Success Stories section of the report will explore several specific examples of these changes at work. India is well known for its entrepreneurial and highly-educated talent base, and is the third largest pool of scientists, engineers and technicians, after the US and Russia. More and more attention is being paid to how it will continue to develop its intellectual and managerial talent and management practices in order to achieve an international standard that will take it into the future. The country’s centuries-old history of entrepreneurship across almost every industry sector has been founded on its people’s sound business fundamentals and passionate commitment to success.