In recent years, the robust market as well as the economic recession has led many companies to be more concerned about keeping their competitive advantage. This has caused companies to start to put special focus on their best employees, and therefore, the concept of Talent Management(TM)has become one of the most popular and debated issues in Human Resource Management(HRM). Generally speaking, this study reviews and analyses the concept of TM, critically evaluates and discusses the differences and similarities between TM and HRM and explores the role of TM in the context of Azerbaijan. Furthermore, HR functions embraced by TM are highlighted; specifically, practices such as selection and recruitment, retention and development are analysed from the perspective of both academic literature and the targeted organisations.

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