Talent management (TM) strategies are becoming significant to gain competitive and sustainable advantages through proper utilization of talent. The current study aims to investigate the concept of talent management along with its major strategies and to analyze the prospects and challenges of talent management in the context of South Asian countries. Using a comprehensive search of previous articles, the researchers critically reviewed the emerging strategies, prospects, and challenges of talent management. Particularly, this paper contributes to precisely defining talent, talent management, strategies of talent management, and its significance for the organizations. The study concluded that the significant challenges encompassing the talent management spheres of South Asian countries are many. They include a problematic process of identification of potential talent due to a shortage of skilled labor force, development and nourishment of talent by overcoming the bureaucratic and traditional management style, rife competition for the limited talent pools, non-existent of strong employer brand trend and ongoing brain drain. However, TM appears as prospectus towards South Asian countries as previous studies found that TM strategies contribute to improving financial and non-financial performance, employee productivity, degree of employee commitment, customer satisfaction and reduced turn-over rate.  Furthermore, after analyzing the prospects and challenges of talent management, this paper provides future research direction to conduct more research in the field of talent management.

The purpose of this research is to examine the influence of talent development (TD) on talent engagement (TE) and self-efficacy (SE). Data were collected through a questionnaire from the trainees of Bangladesh Institute of Human Resource Management (BIHRM). Two hypotheses were developed and tested on the collected data. Structural equation modeling (SEM) is performed which includes both measurement model and structural model. Average variance extracted (AVE), Cronbach's alpha (α), composite reliability (CR) and factor's loading have been shown under the measurement model whereas path diagram is used to present the relationship among the constructs under the structural model. The results of the study support that talent development has significant impact on both talent engagement and self-efficacy of talented employees. The outcome of the study is highly consistent with the previous literature and the results have strong logical argument. The research implies that organizations should emphasize to improve knowledge and abilities of the talents which foster more attachment and conviction towards jobs as well as enhance the level of talents' self-efficacy. Contribution/Originality:This study contributes to the existing literature by developing a unique model which connects talent development, talent engagement and self-efficacy together. Moreover, this study is one of very few studies which have empirically investigated to assess the impact of talent development on talent engagement and self-efficacy using SEM. INTRODUCTIONTalent development is an inseparable element of talent management which is an evolving concept and area of research in the field of human resource management. Talent development improves the knowledge, abilities, skills and competencies of talents which are highly interconnected with talent engagement (Isa, Ibrahim, Jaaffar, & Baharin, 2018). The career path of talents improves through the proper learning and development which inspire them to involve more in the assigned tasks (Ali, Hossain, & Ahmed, 2018;Mehdiabadi & Li, 2016). Being a source of non-monetary benefit and instrument for employee motivation, talent development increases the appeal for the organization making employees engaged to their assigned jobs (Ali, 2020;Ali & Guha, 2018). Several talent development programmes, aimed at achieving psychological skills to tackle the challenges of the 21st century, transform the potential talents or gifted people into exceptional performer (Olszewski-Kubilius, Subotnik, &

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