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Aim of the study – Talent crunch is a major challenge confronted by the organizations globally. This crisis could cost nations trillions of dollars in unrealized annual revenues. The talent crunch – an imminent skilled labor shortage affecting both developed and developing economies – could ultimately shift the global balance of economic power by 2030 if left unaddressed. Labor will be available globally, but it may not match sector needs at the time. This has resulted into the burgeoning interest in talent development, especially among practitioners. Strong implementation of talent development is recommended crucial for talent ‘shortage’ or ‘gaps’. The purpose of this paper is to explore the concept of talent development and to bridge the practice and science of talent development by showing the importance of building human capital in organizations. It also reviews the range of interventions available to organizations like 360-degree feedback, executive coaching, mentoring and networking, job assignments and action learning, for development. Design/methodology/approach – The paper reviews the relatively scant and fragmented literature on talent development processes. Findings –The literature review uncovered that talent development is usually discussed as part of a wider talent management process. The study underlined why talent development has proved crucial to the success of an organization, whether in prosperity or adversity. Research limitations/implications – Though the study is exclusively qualitative in its essence; it highlights avenues for future studies. Practical implications – This study will help training professionals in dealing with certain problems and challenges that lead to the management and development of talent at work.