Talent Management in Bosnia and Herzegovina

Abstract

Talent management is considered to be one of the most popular management topics, both in theory and in practice. The term "talent" dates back to ancient times, while the term "talent management" was first mentioned in 1998, when a group of McKinsey consultants published a study titled "The War for Talent", which highlighted the positive impact of talent on organizational excellence.Both talent and talent management can be defined in numerous ways. Simply stated, talents represent the "right people", which refers to individuals who have key competencies a company needs, while talent management can be defined as getting the right people in the right roles at the right time.According to the survey conducted in Bosnia and Herzegovina, the terms "talent" and "talent management" are familiar to most respondents. Additionally, most respondents believe that talent management improves employee motivation and performance, as well as the performance of the entire enterprise. The research also showed that in most Bosnian companies, talent management practices are not implemented, and this applies to special programs for talented employees as well. The majority of survey respondents also expressed that they would appreciate working in talent focused organizations.