Talent Management in CPSEs: A Strategic Approach

Abstract

Central Public Sector Enterprises (CPSEs) are operating in a competitive world. The competition is severe and challenging. CPSEs can overcome the talent deficit by transforming their HR. While redrawing their strategies on board, the new age classification of industry known as Industry 4.0 and Industry 4.5 must be considered. The latest generation of employees and gender diversity could be the focal point of attention. While the government has taken several steps to improve the level of governance in the CPSEs, there have been few initiatives to improve the HR function, resulting in Talent Management (TM). To address this thorny problem, CPSEs have introduced Performance-Related Pay (PRP) based on the recommendation of the Second Pay Committee appointed by the Government of India but with little gain. PRP provides a partial solution to the problem. Except for the introduction of incentives in the form of PRP, the other aspects of TM are yet to receive due attention in CPSEs.

Keywords: CPSEs, Talent Management, Significance, Process, Performance Management System, Critical Challenges

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