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War for talent myBskool live class ppt - 27 nov 13 | Online Mini MBA (Free)


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myBskool Live Virtual Class ppt - War for Talent

Prof. Suresh Srinivasan

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  • 1. SURESH SRINIVASAN 09962959381
  • 3. BACKGROUND –TALENT HUNT-Entry level • SOURCES OF RECRUITMENT • TIER 1 – IIT’s /NIT’s –Engineers – 4.5 % are fit to work for Google/Microsoft from the Engineering & Technology pool • TIER 2,3, -Engineers – 45 % who are employable for IT/ITES from the Engineering & Technology pool
  • 4. BACKGROUND –TALENT HUNT-Entry level GENERAL POOL- Trainable –OPEN TO ALL SECTORS • Arts & Science Students – 45.7 % • Other Stream Students - 54. 3 % • { FROM A POOL OF 51.0 LAC STUDENTS-DATA FOR 2012}
  • 5. • • • • • • AREAS OF CONCERN Tackling Shortfalls or Tackling Surplus and Improving THE PRODUCTIVITY - Utilization of Work force Mantra Recruit – Retain – Utilize - Improve
  • 6.       REASONS FOR LABOR T.O/Attrition Family Career Mobility Illness/Accident Competition –better wages & salary rates
  • 7. • ISSUES : Some specific areas identified –from recruitment point of view • Huge Regional Imbalances in availability of Engineering graduates ( TN, AP, KARNATAKA & MAHARASTRA –account for over 70 %) Quality of Output-Lack of needed current skill sets Changing & Demanding customer needs Grater demand on New Technology usage by clients Lack of Deeper Domain knowledge Lack of Outstanding Interface skills Poor awareness of the Business Inability of most companies to standardize these Issues • • • • • • • •
  • 8. Mission Critical Role Success Criteria: Competencies/Other Derailers Appointments Career Development Interview Career Aspirations Career Options Succession Plan Evaluate Key Staff Potential: Psychometrics CD Assesment PMS Personal Learning Plan TALENT PANEL
  • 9.      Superior talent will be tomorrow's prime source of competitive advantage. Companies are finding it increasingly difficult to attract and retain good people. Companies must make talent management the top corporate priority. They must create and constantly refine their employee value proposition to become the employer of choice for talented individuals. They must be clear about how they are going to recruit and develop talent.
  • 10. Different organisations can have different definitions of talent: •“A transnational organisation may define talent as the top performing 1% of executives •Another organisation could define talent as the top 10% of high performers, whatever their role or level •Yet others may have a mix , defining talent not only as executives with potential for board-level appointments, but also high-potential individuals who are identified as leaders of tomorrow •Others may be taking an end-to end view of newly appointed graduates to top leadership •Finally some might take the view that every employee should be included in talent management activities”. CIPD Talent Management Tool( 2009)
  • 11.  Characteristics of a high potential employee: •consistently produces measurable results above expectations •Self manages in a manner that fosters learning and high performance •Ensures that team goals are achieved within ethical and cultural guidelines •Manages and leads teams that demonstrate a sense of loyalty and community •Strives to deliver and exceed customers’ needs •Arranges and leverages resources within an From Cannon, J and McGee, R (2007) organisation •Has high resilience
  • 12.    A more complex economy demands more sophisticated talent with global acumen, multicultural adaptability, technological literacy, entrepreneurial skills, and the ability to manage increasingly flat, organizations. Second, the emergence of efficient capital markets has enabled the rise of many small and medium-sized companies that offer career and wealth accumulation opportunities that few large firms can match. Job mobility is increasing. Ten years ago, high performers might have changed jobs just once or twice in a full career. Now they may do so once every 4-5 years.
  • 13.     Any company serious about talent management must instill a talent mindset throughout the organization, starting at the top. Leaders must hold regular discussions to review the performance of executives at every level. These reviews must be candid, probing, and actionoriented, and link talent to strategy. They must set high standards, ensure that performance is assessed fairly, and act as a vehicle for fostering personal development.
  • 14.    Companies must insist that their line managers are accountable for talent. The role of human resources should be redefined and its capabilities strengthened. HR executives need to be effective, proactive counselors with personal and business credibility and strong relationships with business units.
  • 15.  Creating a winning employee value proposition means tailoring a company's "brand" and the jobs it has to offer -- to appeal to the specific people it wants to find and keep.  The executive talent pool can be segmented into four groups.  "Go with a winner" executives seek growth and advancement in a highly successful company; they are less concerned with its mission and location.  "Big risk, big reward" executives value compensation and career advancement over their company's success or its active role in their personal development.
  • 16.  "Save the world" executives demand an inspiring mission and exciting challenges.  "Lifestyle" executives are more interested in flexibility with respect to lifestyle choices, geographic location, and compatibility with the boss.  Successful organizations tend to have a dominant talent segment, while their weaker peers have a bit of everything.  Ideally, a company should simply figure out who it is aiming for, and make sure its brand is tailored to the talent segment it seeks to attract.
  • 17. • SOLUTIONS BY COMPANIES – Some Answers • Internal Scaling up or Deploying experienced candidates Setting up of huge Training facilities Tailor made courses to bring about the right talent New Hybrid models –Sponsoring Academic Institutions to create specific courses Selecting Students as per their need only Providing Content & Study material according to their Industry & Business • • • • • •
  • 18. • • SOLUTIONS : SOFT RETAIN • Providing better quality of Work • Employee satisfaction at all times • Job Security • Job Rotation • Job satisfaction by Learning more & growing • Superior training to constantly upscale their skills • Value the Employee by constantly Acknowledging • Provide excellent R & D lab inputs for Innovation & advancement IMPROVE • Allowing old Employees to come back –TCS has this policy • Internal Transfers • Promotions • Use of freelancers • Introduction of Temporary contracts & making Permanent later
  • 19. • SOLUTIONS : HARD • IMPROVE • Buddy Policy to “mentor” the fresher's for at least 6 months so that they stabilize Study “Exit Interview” feedback and Quantify,analyze,assess Every Quarter –Surveys –data study to identify “ Problem Areas” Monitoring current “Productivity” levels and benchmarking Increase Employees Incentives Career Planning- Time frame bound Sabbaticals • • • • • • •
  • 20.    Instilling a new talent mindset and developing a powerful employee value proposition are important but they aren't enough. A robust sourcing strategy is crucial. That means being clear about the kinds of people that are good for the organization, using various innovative channels to bring them in, and having a complete organizational commitment to recruiting the best.
  • 21.      There are a number of specific steps that companies should take to develop their talent. Put people in jobs before they are ready. Put a good feedback system in place. Understand the scope of the retention problem. Move out the poor performers.