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Talent Management Objectives and Strategies
- 3. Objectives of Talent Management Capture the right talent and convert it Identify various upcoming challenges of talent management Establish upcoming trends in talent management. Identify the ways to retain the best talent.
- 4. Essentials of Talent Management Activity of identifying, realizing, and guiding untapped potential in people. Nurturing and developing of people Involves individual and organization development Supportive people oriented organizational culture. Deliberate approach undertaken
- 5. THE ELEMENTS OF TALENT MANAGEMENT The resourcing strategy Attraction and retention policies and programmes Talent audit Role development Talent relationship management Performance management Total reward Learning and development Career management
- 6. CHARACTERSTICS OF HR AND TM PROCESS HR process TM Process Goals Greater efficiency , Better management of people to obedience achieve strategic business goals Metrics Shorter time to hire , lower Higher quality hires , stronger cost to fill, higher leadership pipeline percentage of employees reviewed Benefits More efficient HR Better business performance performance Users HR professionals / power Business managers , HR users professionals Decision Makers HR specialist HR specialist, senior executives, business managers,
- 7. TALENT MANAGEMENT PROCESS Clarifying Expectations Feedback Coaching Appraisal of Talent Usage
- 8. ATTRACTION STRATEGIES Employer branding Employer of choice Targeted recruitment and selection
- 9. RETENTION STRATEGIES Factors affecting retention Risk analysis Analysis of reasons for leaving Areas for action
- 15. Components to Talent Management Strategic Plan Competencies Required Talent Inventory Succession Plan Recruitment Plan Development Plan
- 16. Successful Talent Management Senior management’s support Readiness Ability to link people and processes Understandable Evaluation and review
- 17. Talent Management Phase 1 Phase 2 Phase 3 Talent Inventory Succession Development Planning Planning Identify needed Identify successors Job Rotation competencies to key positions Identify key Identify Development positions competency gaps assignments Identify high Develop Formal training potential recruitment plans employees Mentoring Leadership Development
- 18. Talent Inventory Individual Talent Assessment Work history Special Contributions Major Accomplishments Key Attributes / Strengths / Special Skills Aspirations Development
- 23. Ways To Manage Talent Connecting corporate strategy with the quantity and quality of leadership required to execute it. Driving leader’s accountability for the cultural strategies that support business goals. Identifying those individuals with the highest leadership potential across the organization early in their careers. Assessing high-potential talent against a holistic and future- facing definition of leadership Accelerating the development of high-potential talent and improving the quality of executive leadership Enhancing the focus on growing better leaders at all levels from first line upwards
- 24. Talent Management should be about… Enabling employees to deliver business success Ability to direct the positive energy of people to the right areas. How it will achieve the specific goals of the organisation Valuing the natural talents and aspirations of the employees Understanding what blockages can spoil all the hard work Operating people processes that join together with one another and with the business’s goals Understanding how to manage people for alignment as well as ability
- 26. Start with the end in mind—talent strategy must be tightly aligned with business strategy Talent management professionals need to move from a seat at the table to setting the table One must know what one is looking for—the role of Success Profiles The talent pipeline is only as strong as its weakest link
- 27. Talent Management is not a democracy Potential, performance and readiness are not the same thing Talent management is all about putting the right people in the right jobs Talent management is more about the “hows” than the “whats.” Software does not equal talent management
- 28. Job Stretch and Mobility Freedom and Stimulation Deep Immersion Teaching and Coaching Diversity of Talents and Personalities Horizontal Growth Paths
- 29. DDI’s Talent Management Model
- 31. Tackling Talent Shortages Managing Talent and Improving Leadership Development Category 1: Developing and Retaining the Best Employees Category 2: Anticipating Change Category 3: Enabling the Organization Mastering the Fundamentals of HR Sustainability and Corporate Social Responsibility
- 32. HOW CAN HR TACKLE THESE CHALLENGES? Focus on Managing Talent 3. Analyze the age of their workforce down to the job-function level 4. Develop plans for individual career management 5. Develop plans for knowledge management for the firm 6. Encourage lifelong learning to renew skills and keep them update 7. Develop a better understanding of staffing needs and trends, and develop tools to acquire, develop, retain and reward talent based on workforce demands 8. Grow comfortable in a global world with geographically dispersed workforce
- 33. Role of HR in Talent Management Executing talent management strategy Being custodians of the talent management process Providing guidance and fresh thinking about talent management programs
- 34. Talent Management Helps in Increasing Reducing Employee Employee satisfaction turnover Worker Time to ramp new hires productivity Learning effectiveness
- 35. Executing Talent Management Strategies through People, Process and Technology
- 36. People From To HR owned Business-owned function/ process strategy that the HR Business Siloed HR partner develops functions based on process Unified talent organization Limited by of HR models competencies, history & Capability to assumptions manage talent
- 37. Processes From To Siloed & Unified & fluid integrated Enables different Peanut butter strategies for “All approach same & Few” for everyone
- 38. Technology From To Modules Unified & fluid Process support Business decision support Developed to serve HR Developed to serve the business and employees
- 39. Conclusion “Talent Management” has become one of the most important buzzwords in Corporate HR and Training today. ..at any one time 59% of employees will be open to working elsewhere
- 40. THANK YOU!!! Neha Taneja Pallavi Singhvi Swati Pasricha Siloni Sangra Bhavisha Sharma Lovleen Bhola Nidhi Bhandari
Editor's Notes
- Talent = Competitive Advantage
- Stretching the employee, new challenges,,,, knowledge transfer, coaching/mentoring, Successful Talent Management Efforts Are: • Aligned with the organization’s culture and values, to ensure “fit” • Designed to support the organization’s strategy, to ensure relevance
- Build your team based on people’s inherent strengths. Manage around their weaknesses. You can teach skills and knowledge, not strengths. Hire for attitude and strengths. Train the skills. Create an environment where people can exercise and build on their existing strengths.