Talent is now an organization's major source of competitive advantage. The success of a company is determined by the performance of its workers. In today's competitive climate, HR managers must focus on both retaining and acquiring skilled employees. Talent management is a difficult and important task. The acquisition of the right talent strengthens the organization's strategy. The current global economic scenario has boosted total job-seekers in the labor market throughout the world, yet there is still a significant talent shortage in many sectors and nations, resulting in a rise in the problem of "Talent Mismatch.". The changing corporate landscape necessitates HR to act more strategically to increase employee engagement and retention, which is a valuable tool for talent management. When a company properly implements talent management methods, it increases employee engagement and employee retention, which helps the company perform better. The more engaged your employees are, the more productive they are. This research is based on empirical research findings gathered from literature reviews conducted in this area. To determine the beneficial link between talent management, employee engagement, employee retention, and organizational performance, the researcher will study a variety of publications, research papers, and literature. This study paper will give HR managers and academicians an insight that how talent management will as a strategic tool for increasing employee retention and engagement, as a result, enhancing organizational performance.