Changing Dynamics of Talent Management: Analyzing the Impact of Business Environmental Factors

Abstract

Talent management process makes sure that the organization has sufficient supply of talented employees to meet the organizational goals. However, this aspect is important for organizations especially in the wake of the ever-changing business environmental factors such as political, social and economic factors. To undertake a critical examination of the changing dynamics in the field of talent management, the following research focuses on an analysis of the impact of political, economic and socio-cultural changes on the talent management process in oil and gas companies in GCC. As such, the main objective of the research is to undertake an analysis of the practices of talent management adopted in the oil and gas sector in GCC region and analyze the changing dynamics of the Talent Management process to suggest strategies to manage talent to improve the industry performance. Despite the advanced in the human resource management field, the talent landscape in the GCC region faces challenges in the talent management process such as talent acquisition, talent retention, and talent development. The following research focuses on the use of an empirical quantitative approach towards data collection and interpretation of the obtained data. The research advanced three hypotheses, which are tested in the research. The findings of the research provide evidence that the economic, social and political factors have a significant influence on talent management practices in this region. And it is important to consider the business environmental factors in managing talent by aligning organizational strategy with talent management strategy of the company. The implantation of technology by means of Artificial intelligence, HR analytics and automation will reduce the dependency on more employees and improving the value of HR in the organization by enlightening organizational performance and productivity with few talented employees in line with dynamic business environmental factors.