Talent Management in Hungary. An Empirical Study and Suggestion for a Process-Based Approach

Abstract

This research aimed to examine the status quo of talent management (TM) in Hungary through an online questionnaire. According to responding companies (n=75), talented employees are interpreted fully/partially by some competencies. The need for talent segmentation seemed to be significant – mainly concentrating on employees with critical skills, graduate/ Gen Z talents, high potentials, managerial talents, and trainee talents. Related to the TM, the respondents’ approaches varied, but four processes typically appeared as components of TM practices – attraction, selection, development, and retention. All of them turned out to be very important, but the respondents experienced difficulties related to each process. Based on the findings, the implementation of a process-based TM model has been proposed. The model suggests interpreting so-called talent potentials, who participate in the entire TM process, along with Spencer and Spencer’s (1993) competency clusters, through which they become the members of particular talent segments.