This study examines the concepts of competence and talent management, which have gained strategic importance in human resources management, and addresses the role of these concepts in achieving sustainable success for businesses. In today’s business world, with the impact of new trends such as digitalization, agile management, diversity and inclusiveness, businesses are experiencing radical changes in their talent attraction, development and retention processes. In this context, the study first presents the theoretical framework of the concepts of competence and talent management, and then discusses the strategic advantages that these approaches provide to businesses. In addition, the reflections of talent management practices in the business world are concretized by giving application examples from leading companies in Turkey and around the world. The findings of the study indicate that digitalization and flexible working models in talent management increase efficiency, while inclusive policies support innovation and provide businesses with a competitive advantage. This study aims to contribute to the existing literature on talent and competence management and to guide strategic decision-making processes in the field of human resources.