TALENT DEVELOPMENT AND ORGANIZATIONAL SUCCESS: EVIDENCE FROM SELECTED BALKAN COUNTRIES BASED ON CRANET RESEARCH 2021

Abstract

Employee development, as an activity of human resources management (HRM), refers to the constant acquisition of new knowledge and skills, as well as new work and practical experience, that is, the application and verification of knowledge and skills in practice. Thus, the development of employees should create the conditions for organizations, and through that, the whole society to be innovation-oriented, to manage knowledge and gain a competitive advantage in the changing modern business environment. Special attention needs to be directed to talent development, since talented individuals have great value in the labor market and because talent development can lead to higher loyalty among talents. It is important for an organization to recognize talents, in the period when they have not yet fully realized their potentials, and to enable talents to develop themselves, providing them with the necessary conditions for personal and professional self-actualization. The aim of the paper is to investigate the importance and components of talent development in the function of building a knowledge-based society as well as the practice of training and talent development in selected countries of the Balkans (Serbia, Bosnia and Herzegovina, Croatia, and Slovenia) based on Cranet research from 2021. The research methodology includes the analysis of theoretical achievements in the field of talent development and training, as well as the analysis of empirical data generated during the latest round of Cranet research from 2021. Data analysis techniques used in the work are descriptive statistics, factor analysis, and correlation analysis. The expected results should enable an insight into the current practice of training and talent development in companies in the analyzed countries, as well as indicate deviations of practice in the Balkan countries compared to other countries of Central-Eastern Europe.