This paper aims at devising a structural equation model on employee engagement, organizational commitment, and talent retention in new generation private sector banks. The study analyses the relationship between the talent-management crunch which the banks are facing and the strategies that are devised in order to hold on to their talent. This article aims to review and discuss existing talent-management practices in new generation private sector banks and the strategies adopted by them through which, they retain their indispensable talent. Thus, this study aims to devise a structural equation model to ensure winning and retaining the talent. For this purpose, a conceptual framework is formulated and tested with a sample of 500 employees working with private sector banks. The results reveal that employee engagement and organizational commitment positively lead to talent retention.