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A Project report on
            “Talent Management Survey”
                         In

                COMPANY Ltd.

A Project Report submitted in partial fulfillment of
        the requirements for the degree of
        Master of Business Administration

                        By

             Amol Bhagwan Kasar

                      PRN:

         Kalyani Ravindra Sapkal
      College of Management Studies,
   Sapkal Knowledge Hub, Kalyani Hills,
   Anjaneri-Wadholi, Trimbakeshwar Rd,
     Nashik-422212. Tel-(02594)220165.

    Project Guide: Mrs. Manisha Gaikwad

                     To
         Pune University-Pune-411007
                Year-2008-10
2




                         ACKNOWLEDGEMENT

          Words put on paper are mere ink marks, but when they have a purpose there exist a
  thought behind them. I too have a purpose to express my gratitude towards those individuals
                 without whose guidance the project would not have been possible.


         I would like to express my thanks to Mr. G. M. Pitale (Head Personnel Division),
      COMPANY Ltd. Who has kindly permitted me to undertake the project in the
                                        organization.


         I am also thankful to Mrs. Alka Jadhav and other members of the organization for their
                           support and providing the required information.


           It was a pleasure to be associated with COMPANY Ltd. The experience that I have
   garnered has had a profound impact on my career choices and has helped me realize what is
     requisite for success in the corporate world. I carry high regards for the complete team of
                                          COMPANY Ltd.



       I also take this opportunity to express a great sense of gratitude towards our Director,
Dr. B. B. Rayate and internal project guide Mrs. Manisha Gaikwad for providing me vital inputs to
co-relate the present project work and hence provide a sound base to the report structure. A special
word of thanks also goes to all the teaching and non teaching staff of my institute and my Friends.

Date: 07-11-09                                                                 Amol B. Kasar
3




                               DECLARATION



 I hereby declare that this Project Report titled Talent Management submitted by me is based on
 actual work carried out by me under the guidance and supervision of Mrs. Manish Gaikwad. Any
 reference to work done by any other person or institution or any material obtained from other
 sources have been duly cited and referenced. It is further to state that this work is not submitted
 any where else for any examination.



K. R. Sapkal college of                                             Signature of Student
Management Studies.
Kalyani Hills, Sapkal Knowledge Hub,
Anjaneri-Wadholi, Trimbakeshwar Rd,
Nashik-422212.                                                             Amol. B. Kasar
Tel-(02594) 220165.


                                                                         Date: 07-11-09
4




           CERTIFICATE FROM THE GUIDE


             This is certify that Amol Bhagwan Kasar has completed the Project Report on
Talent Management under my guidance and supervision , and submitted the report as laid down
by Pune University, Pune. The material that has been obtained from other sources is duly
acknowledged in the report. It is further certified that the work or its part has not been submitted
to any other university or examination under my supervision. I consider this work worthy for the
award of the degree of Master in Business Administration.




K. R. Sapkal college of                                             Signature of Guide
Management Studies.
Kalyani Hills, Sapkal Knowledge Hub,
Anjaneri-Wadholi, Trimbakeshwar Rd,
Nashik-422212.                                                      Name:
Tel-(02594) 220165.


                                                                    Date:
5


              Talent Management Survey

                               Index

Sr. No.   Contents                                        Page
                                                          No.
1           Chapter 1: Introduction                       7-11

              1.1    Object of the project
              1.2    Introduction of study
              1.3    Objectives of the study
              1.4    Rationale of the study
              1.5    Scope of the Project
              1.6    Limitations of the Study

2           Chapter 2: Research Methodology               12-17

              2.1 Review of literature
              2.2 Research Design and sample size
              2.3    Primary and secondary data and its
                      sources
              2.4    Statement of hypothesis



3           Chapter 3: Profile of the                     18-25
            Organization
               3.1 Introduction of the organization
               3.2 Network/Products/Branches of
              organization
               3.3 Flow Chart of the organization
               3.4 Mission of the organization


4           Chapter 4: Introduction of Talent             26-30
            Management
              4.1 Introduction of Talent Management
              4.2 Talent Management v/s Traditional HR
                    Approach
              4.3 Understanding Talent
              4.4 Human Capital Management
Sr.   Name of Chapter                                          Page    6
No.                                                            No.
5       Chapter 5: Talent Management                           31-42

           5.1 Meaning and Definition of Talent Management,
               Importance of Talent
               Management.
           5.2 Challenges of Talent Management,
           5.3 How to Manage Talent?
           5.4 Steps involved in Talent Management Process

6                                                              43-49
        Chapter 6: Performance appraisal
           6.1 What is Performance appraisal?
           6.2 Methods of Performance appraisal
            6.3 How performance appraisal conduct in Company
                 Ltd.



7                                                              50-60
        Chapter 7: Career Planning
           7.1 Meaning, Definition and procedure of Career
               planning,
           7.2 Benefits of Career Planning,
           7.3 How implement career planning in Company
               Ltd, Nasik.
           7.4 Succession Planning: Meaning, Definition
               Importance.
           7.5 Implementation in Company of succession
               planning.


8                                                              61-69
        Chapter 8: Training and Development
         8.1  Training and development: Meaning, Definition,
              Procedure, method.
         8.2 How training is necessary for Development
         8.3 Method of training
         8.4 How training is conduct in Company ltd. Nasik?
             Documentation and procedure for training in
              Company ltd. Nasik.

9     Chapter 9: Conclusion and testing of                     72-80
                hypothesis

10      Chapter 10: Suggestions and                            81-85
        recommendations

11       Appendices                                            86-89
                  I Questionnaire
                  II Bibliography
7




      Chapter 1: Introduction




Chapter 1
8


1.1   Introduction of the study
      Talent Management

     Talent management implies recognizing a person's inherent skills, traits,
 personality and offering him a matching job. Every person has a unique talent that
 suits a particular job profile and any other position will cause discomfort. It is the job
 of the Management, particularly the HR Department, to place candidates with
 prudence and caution. A wrong fit will result in further hiring, re-training and other
 wasteful activities. Talent Management is beneficial to both the organization and the
 employees. The organization benefits from: Increased productivity and capability; a
 better linkage between individuals' efforts and business goals; commitment of valued
 employees; reduced turnover; increased bench strength and a better fit between
 people's jobs and skills. Employees benefit from: Higher motivation and commitment;
 career development; increased knowledge about and contribution to company goals;
 sustained motivation and job satisfaction.
        In these days of highly competitive world, where change is the only constant
 factor, it is important for an organization to develop the most important resource of all
 - the Human Resource. In this globalize world, it is only the Human Resource that can
 provide an organization the competitive edge because under the new trade
 agreements, technology can be easily transferred from one country to another and
 there is no dearth for sources of cheap finance. But it is the talented workforce that is
 very hard to find.
        Talent signals an ability to learn and develop in the face of new challenges.
 Talent is about future potential rather than past track record. So talent tends to be
 measured in terms of having certain attributes, such as a willingness to take risks and
 learn from mistakes, a reasonable (but not too high) level of ambition and
 competitiveness, the ability to focus on ‘big picture’ issues, and an awareness of their
 own strengths, limitations and impact on others.
       Several talent management processes need to be in place on a strategic
level in order ensure its success. Such processes/strategies include talent
identification, recruitment & assessment, competency management, performance
management, career development, learning management, compensation,
succession planning etc.
        Talent management has a number of benefits to offer such as employee
engagement, retention, aligning to strategic goals in order to identify the future
leadership of the organization, increased productivity, culture of excellence and
much more.
9


1.2 Objectives of Study:-

      In the current scenario of cutthroat competition, every company has to survive
to satisfy its customers by providing them quality products and services. The summer
training at Company, was undertaken with a view to study certain fundamental as
well as the commercial and operational aspects of the company. The training
involved the study of the following:


•   To understand the entire procedure of Talent management
•   To understand the need of Talent Management
•   To study the accuracy and quality of work of employees by talent management
    procedure.
•   To suggest possible improvement in Talent Management process.




1.1 Rationale of the study
10



    The ‘talent’ in an organization refers to the current employees and their valuable
Knowledge, skills and competencies. Talent management (or succession
management) is the ongoing process of analyzing, developing and effectively utilizing
talent to meet Business needs. It involves a specific process that compares current
talent in a department to the strategic business needs of that department. Results lead
to the development and implementation of corresponding strategies to address any
talent gaps or surpluses.
        Talent management for the HR Community is a priority of the HR Strategy for
the HR Community. Not only does the HR Strategy support the HR Community as its
own professional group, but it also recognizes and will support the role human
resource professionals have to help their clients become skilled, committed and
accountable public servants. The implementation of a talent management process that
is transparent and equitable is expected to create an environment for people to
develop their skills in preparation for a range of future possibilities thereby preparing
the workplace for changing roles. The goal of this process is to map the business
needs of the HR Community with the potential and career development needs of our
people in order to develop a comprehensive Talent Management Plan.




       1.2    Limitations of Study:-
11




   1) All the functions are only related with the personnel department.

   2)   Limitation about the working hour of the worker in the factory.

   3) Limitation about the time and absenteeism.

   4) Company not allowing to disclose confidential information

   5) Time factor was the major limitation of this survey. Because during survey
      any activity of organization which is directly or indirectly related to the
      production process should not disturb due to survey.


Object of the project:

    This “Talent Management” Project I completed from Company, For the
fulfillment of the full time course of MBA of Pune university for the year 2009-2010.
In Company I made research on Talent Management process because company want
to know that, is it talent management is really beneficial for them or not. I proved
them that talent management is really beneficial for company by doing this project.
           I completed this project because it was a requirement of our MBA full time
course. I learned various things in this project, like audit, SAP HR module, personal
administration. Etc.
12




Chapter 2: Research
           Methodology
13




   Chapter 2: Research Methodology

Review of literature

   TALENT MANAGEMENT V/S TRADITIONAL HR
APPROACH

  Traditional HR systems approach people development from the perspective of
developing competencies in the organization. This can actually be a risk-prone
approach, especially for companies operating in fast evolving industries, since
competencies become redundant with time and new competencies need to be
developed. Thus, over time, the entire approach to development of people might be
rendered obsolete calling for rethinking the entire development initiative.

Talent management on the other hand focuses on enhancing the potential of people by
developing capacities. Capacities are the basic DNA of an organization and also of
14

individual potential.



                             D    Point of Departure


                            N     Navigation

                            A     Point of Arrival

In fact, the following appropriately describes the role of talent management:


      Translating organizational vision into goals and mapping the required level of
capacities and competencies to achieve goals aligning individual values and vision
with organizational values and vision.

Clear understanding of the varied roles within the organization and appreciation of the
value-addition from self and others leading to building a culture of trust, sharing and
team orientation.

Assessment of talent to profile the level of capacities and set of competencies
possessed within the organization.


Enhancing capacities to learn, think relate and act through development initiatives.
Individual growth to meet and accept varied incremental and transformational roles in
an overall scenario of acknowledged need for change.


Gap analysis and identification of development path helping individuals realize their
full potential through learning & dev.
Developed individuals enabling breakthrough performance


4.3 Understanding Talent
        The idea of developing talent is not a new concept in any business. In fact
every successful company that has 'stood the test of time' has done so, Because of
their ability to attract, retain and get the best out of their talent.
Today we read of a 'war for talent’. This has emerged, not because companies have
forgotten about talent, or allowed it drop off of the radar but, because in some
fundamental ways, the talent has changed. We have a new kind of young person
entering the business world, with a very different world view, set of values, priorities
and goals.
15


Focus 1: Attracting and recruiting Talent:

       In order to effectively attract and recruit talented employees you need to
understand what talent is looking for in a career and how they will view your business
in terms of fitting in with their needs. Your approach to each one of your potential
recruits needs to be altered to suit that they are.
By examining this through the perspectives of the different generations, we are able to
look at their attitudes to work what kind of career, organization and benefits they are
looking for and know what kind of techniques will ensure that your recruitment
process is successful in each generational context.

This focus unit looks at the following:

   o attitudes to work
   o career goals
   o views on organizations and how they are currently run
   o what benefits each generation is looking for
   o Techniques to attract the different generations: what will make your
     organization stand out?
   o Techniques to recruit the different generations: how should the job offer be
     presented?




Focus 2: Retaining and developing Talent

In order to effectively retain and develop Talent you need to understand what the
generations are looking in a future career and in an organization. Your approach to
each one of your employees needs to be altered to fit individual goals and personal
needs.



This focus unit looks at the following:
       o   work ethics and values
       o    career planning
       o     work environments and culture
       o      benefits and reward systems
       o       ways of motivating




Focus 3: Managing Talent
16



   An in depth look at how the generations internalize authority will enable you to adjust
your management style to fit in with who they are.
We are able to look at the attitudes of the different generations to leadership and
management; what kind of management approaches will ensure that you gain maximum
loyalty, productivity and job satisfaction from each of your employees.

This focus unit looks at the following:
        o  attitudes to authority
        o   management styles for the different generations including conflict management
        o    leadership styles used by the different generations
        o     specific techniques to help you manage different generations      including
               communication and feedback preferences
        o coaching and mentoring preferences including
                    The role of coach
                    The coaching process

How to plan for and create conversations




Research Methodology

  Research Methodology is a way to systematically solve the research problems. It
may be understand as a science of studying how research is done scientifically. In it
we are studying his research problems along with the logic behind them. It is
necessary the researcher to know not only the research method techniques but also the
methodology.


Types of Research:-

It is descriptive type of research. Descriptive Research survey and fact finding
inquiries of different kind. The major purpose of descriptive research is descriptive
the state of affairs, as it exist at present. The main control over the variable; he can
only report what has to discover the even when there he cannot the variable. The
methods has to researcher utilized in descriptive research are survey methods of all
kind.


Data Source:-
17

The source of project depends on accurate data. That’s why data collecting the
appropriate data, which differ considerable in context money, cost, time and other
resources at the disposal researcher.

There are two types of data collection methods available:-

    1) Primary Data Collection Method.
    2) Secondary Data Collection Method.




2.3 Primary And Secondary data

    1) Primary Data Collection Method.

  Primary data are those that are obtain by the user for fulfillment their purpose. I
have taken Primary Data through personal visit of HR head, and HR executive, of
Company Ltd. At all levels and observation methods to get more reliable information.
I also collected primary data by filled, ‘Yes’ or ‘No’ format questionnaire by the
employee of Company, This data helped me to justify the statements that have made
in this project.


    2) Secondary Data Collection Method.
18

  The Secondary Data is that which is already collected and stored or we can say
already saved or ready data by others. I got secondary data from their journals,
records, specimen of appraisal form etc. And from newspapers magazines, articles,
internet etc I got basic information of Talent Management. I collect secondary data by
referring some specimen of company and by referring some books and web sites of
company from internet.




2.4 Statement of Hypothesis
           Hypotheses are the essential assumptions which the researcher formulates
about the possible causes, findings and ultimate output of the issue in under research.
Under hypotheses mere assumptions or suppositions are made which are to be proved
or disproved. For researcher it is a formal question that he intends to resolve. A
hypotheses consist either of a suggested explanation for a phenomenon or of a
reasoned proposal suggesting a possible correlation between multiple phenomenon.
The assumptions be true or false are to be proved through the completion of project.
19


The hypotheses for this project are as follows:
Null Hypothesis:
    Employee taking benefits from Talent Management System

    Employee can retain successfully for the benefit of organization

    Employee’s performance increased by talent management

    Employee turnover of organization affected by Talent Management Procedure

Alternate Hypothesis:

    Employee are not able to take benefits from Talent Management System

    Employee can not retain successfully for the benefit of organization

    Employee’s performance can not increased by talent management.

    Talent Management is not affecting on employee turnover of organization




  Chapter 3: Profile of the
             Organization.
20




3.1 History of Company
21


                Founder of Company-Werner von Company
                  Born- 13 Dec. 1816 to 6 December 1892

     Company was founded by Werner von Company on 12 October, 1847. Based on
the telegraph, his invention used a needle to point to the sequence of letters, instead of
using Morse code. The company – then called Telegraphen-Bauanstalt von Company
& Halske – opened its first workshop on October 12.

In 1848, the company built the first long-distance telegraph line in Europe; 500 km
from Berlin to Frankfurt am Main. In 1850 the founder's younger brother, Sir William
Company (born Carl Wilhelm Company), started to represent the company in
London. In the 1850s, the company was involved in building long distance telegraph
networks in Russia. In 1855, a company branch headed by another brother, Carl von
Company, opened in St Petersburg, Russia. In 1867, Company completed the
monumental Indo-European (Calcutta to London) telegraph line.

In 1881, a Company AC Alternator driven by a watermill was used to power the
world's first electric street lighting in the town of Godalming, United Kingdom. The
company continued to grow and diversified into electric trains and light bulbs.

     As Werner had envisioned, the company he started grew from strength to strength
in every field of electrical engineering. From constructing the world's first electric
railway to laying the first telegraph line linking Britain and India, Company was
responsible for building much of the modern world's infrastructure.

Company is today a technology giant in more than 190 countries, employing some
440,000 people worldwide. Our work in the fields of energy, industry,
communications, information, transportation, healthcare, components and lighting has
become essential parts of everyday life.

While Werner was a tireless inventor during his days, Company today remains a
relentless innovator. With innovations averaging 18 a day, it seems like the revolution
Werner started is still going strong.

 In 1890, the founder retired and left the company to his brother Carl and sons
Arnold and Wilhelm. Company & Halske (S&H) was incorporated in 1897. In 1907
Company had 34,324 employees and was the seventh-largest company in the German
empire by number of employees.

In 1919, S&H and two other companies jointly formed the Osram lightbulb company.
A Japanese subsidiary was established in 1923.

During the 1920s and 1930s, S&H started to manufacture radios, television sets, and
electron microscopes.
22




3.3 COMPANY AG - A Strong Global Presence

       Company is a world-class supplier of electrical and electronics products and

system serving one of the longest and most diversified markets worldwide. Company

Ltd. in India is a subsidiary of Company AG, Germany. Company AG have been

closely involved with developments that are at the leading edge of electrical and

electronics engineering ever since the pioneering inventions of the founder of the

company – Werner Von Company.

       Company strength, acquired over many decades of pioneering research and

practical experience, lies in the development of advance technologies and in their

timely application to a wide range of high Quality, Innovative and cost effective

products. As a global company, Company have manufacturing, sales and services

facilities in more than 170 countries. Employees worldwide in the offices, factories,
23

laboratories and service organizations total to about 3, 90,600. All committed to

providing the highest standards of technological competence that Company has been a

synonym for, right since inception.

        In today’s fiercely competitive business environment, corporate strength can
be achieved and maintained only with a strong base of highly qualified and motivated
employees. Qualified professional training however provides merely the basis for a
successful career. Changes in technology and the business environment occur so
rapidly that know-how and skills must be constantly updated, enhanced or completely
supplanted. Each year more than 150000 employee at Company AG participate in
over 20000 seminars and courses designated to none professional and personal skills.
While 10800 trainees are undergoing training in manufacturing, technical and
commercial trades.




   3.4 Company in India

       Company association with India began in 1867 when Werner–Von-

Company personally supervised the laying of the first sub marine telegraph line

between Calcutta and London. This historical event marked with the beginning of a

long and fruitful association. Company and India have grown together. In making the

country’s priorities its own, Company has put its experience and expertise in areas of

national importance. Company have played an active role in the technological

progress experienced in the last four decades. Company grew out of a response to the

needs of the nation. Today Company involvement reflects the current trends in

electronic and electrical technology in switchgear, motors, drivers, automation

systems, power generation and distribution, projects, transport, medical engineering,

communications and components.
24

           Company have about 8000 employees in India and an extensive network

    which includes 10 works, 3 training Centers (Units), 7 sales offices, 23 representative,

    300 dealers, System houses and Service Centers, all geared to meet the requirement of

    customer.

           Being closely associated with our principals Company AG, Germany gives

    Company in India access to the world’s latest developments in every field. This

    Combined with its experience in India makes Company the ideal partner for

    catalyzing the country’s progress.




                                  3.2 Company Product

       Founded in 1847 at Berlin, Prussia Founder(s) Werner von Company

       Headquarters at Berlin and Munich.

    Products and Services




Communication Systems                                        Power Generation
25




Automation   Lighting
26




Medical technology   Transportation and Automotive
27

Trains and Trams          Water Technologies




Building Technologies   Home Appliances




Fire Alarms                    IT Services
28




   Financing      Construction




Chapter 4: Introduction of
           Talent
           Management.
29




Chapter 4: Introduction

4.1 Meaning Definition

    With businesses going global and competition becoming intense, there is
mounting pressure on organizations to deliver more and better than before.
Organizations therefore need to be able to develop and deploy people who can
articulate the passion and vision of the organization and make teams with the energy
to perform at much higher levels.

These people build and drive the knowledge assets of a corporation, the value of
which has been established to be many times more than the tangibles. The capacity of
an organization to hire, develop and retain talent is therefore the most crucial business
process and priority on the CEO’s agenda.

The 1990’s ended with a call-to-arms to fight “the war for talent”. While the war for
talent clearly has cooled in the early stages of the 21st century, dampened by
economic doldrums & concerns with global security; the rear battle to attract,
motivate, development & retain talent is going to heat up considerably. A looming
demographic time-bomb will make Talent Management a priority for organizations.

A host of issues like: loss of human capital, talent shortages, ageism, and cultural
clash has made acquiring & managing talent difficult.

Talent Management describes the process through which employers of all kinds –
Firms, Govt., and Non-profit organizations – anticipate their human capital needs &
set about meeting them. Thus Talent Management refers to: getting the RIGHT
PEOPLE with the RIGHT SKILLS into the RIGHT JOBS.
30



         It is a professional term, also known as “Human Capital Management” that
refers to the process of developing & fostering new workers through on boarding,
developing & keeping current workers & attracting highly skilled workers to work for
your company. Companies that are engaged in Talent Management are strategic &
deliberate in how they recruit, manage asses, develop & maintain an organization’s
most important resource – its PEOPLE. This term also incorporates how companies
drive performance at the individual level.

Decisions about Talent Management shape the competencies that organizations have
& their ultimate success; & from the perspectives of individuals, these decisions
determine the path & pace of careers. We may thus understand that this term is
usually associated with competency based HRM practices. Talent Management
decisions are often driven by a set of organizational core competencies as well as
position – specific competencies. The competency set may include knowledge, skills,
experience & personal traits.




4.2 Human capital management

         Companies that engage in talent management (Human Capital Management)
are strategic and deliberate in how they source, attract, select, train, develop, retain,
promote, and move employees through the organization. Research done on the value
of such systems implemented within companies consistently uncovers benefits in
these critical economic areas: revenue, customer satisfaction, quality, productivity,
cost, cycle time, and market capitalization. The mindset of this more personal human
resources approach seeks not only to hire the most qualified and valuable employees
but also to put a strong emphasis on retention. Since the initial hiring process is so
expensive to a company, it is important to place the individual in a position where his
skills are being extensively utilized.

        The term talent management means different things to different organizations.
To some it is about the management of high-worth individuals or "the talented" whilst
to others it is about how talent is managed generally - i.e. on the assumption that all
people have talent which should be identified and liberated. From a talent
management standpoint, employee evaluations concern two major areas of
measurement: performance and potential. Current employee performance within a
specific job has always been a standard evaluation measurement tool of the
profitability of an employee. However, talent management also seeks to focus on an
employee’s potential, meaning an employee’s future performance, if given the proper
development of skills.

   The major aspects of talent management practiced within an organization must
consistently include.
31

 •   performance management
 •   leadership development
 •   workforce planning/identifying talent gaps
 •   recruiting

     This term of talent management is usually associated with competency-based
 human resource management practices. Talent management decisions are often
 driven by a set of organizational core competencies as well as position-specific
 competencies. The competency set may include knowledge, skills, experience,
 and personal traits (demonstrated through defined behaviors). Older competency
 models might also contain attributes that rarely predict success (e.g. education,
 tenure, and diversity factors that are illegal to consider in relation to job
 performance in many countries, and unethical within organizations).




Chapter 5: Talent
           Management
32




       Chapter 5: Talent Management

       5.1 Meaning and definition

        Talent management implies recognizing a person's inherent skills, traits,
personality and offering him a matching job. Every person has a unique talent that
suits a particular job profile and any other position will cause discomfort. It is the job
of the Management, particularly the HR Department, to place candidates with
prudence and caution. A wrong fit will result in further hiring, re-training and other
wasteful activities.

  Talent Management is beneficial to both the organization and the employees. The
organization benefits from: Increased productivity and capability; a better linkage
between individuals' efforts and business goals; commitment of valued employees;
reduced turnover; increased bench strength and a better fit between people's jobs and
skills. Employees benefit from: Higher motivation and commitment; career
development; increased knowledge about and contribution to company goals;
sustained motivation and job satisfaction.

   In these days of highly competitive world, where change is the only constant factor,
it is important for an organization to develop the most important resource of all - the
Human Resource. In this globalize world, it is only the Human Resource that can
provide an organization the competitive edge because under the new trade
agreements, technology can be easily transferred from one country to another and
there is no dearth for sources of cheap finance. But it is the talented workforce that is
very hard to find. The biggest problem is how to retain the present workforce and stop
them from quitting
33




    Importance

    First, let us look at some of the reasons for the importance of talent management.

• Globalization:

           Now for any jobseeker the whole world is the potential place to find
    employment. One can know the opportunities available in any part of the world easily
    and the number of talent seekers has also increased.

• Increased Competition:

        Increased competition in the market place has necessitated the need for
    consistently good performance on the side of organizations. These have made the
    companies to put in all efforts to hire and retain the best talent in the respective field
    of operation.



• Increasing Knowledge:

          The knowledge era has necessitated the retaining of those talents which have the
    ability to assimilate new technologies and knowledge, which are growing at a pace
    never seen before.
34


How Talent Management important for an Organization:
1) Cost cutting:

      One experienced & skilled employee can replace instead of two or more
employees. Organization can save hundreds of thousands of dollars.

2) Maximum Output

       Organization can make maximum out put in minimum resources.

3) Time Saving technique

                  It is a time saving technique. Because for every job a skilled
   person can place. It’s helpful to complete job in minimum time

4) Perfection increase

       Due to skilled employee Perfection in work is increase. There is low
   probability of mistakes.




How Talent Management important for an Employee:
• Recruitment

          It’s ensuring that right people are attracted to the organization, due to
     providing exposure for there skills.

• Retention

      Developing and implementing practices that reward and support employees.

• Employee development

  Ensuring continuous informal and formal learning and development.

• Leadership and "high potential employee" development

        Specific development programs for existing and future leaders.

• Performance management

    Specific processes that nurture and support performance, including
feedback/measurement.
35


• Workforce planning

    Planning for business and general changes, including the older workforce and
current/future skills shortages.

Culture

        Development of a positive, progressive and high performance "way of
operating".




5.2 The Challenge

        The challenge of talent management has two faces. First is how to find new
people and second is how to retain the present workforce. Each of the challenges has
to be tackled in the most efficient way possible so that the organization can achieve its
objectives.

The First Challenge - Where to find new talent?

        All the organizations are finding loads of business opportunities and
consequently, their revenues are growing at a rapid pace. The increasing business
opportunities has necessitated that these organizations go in for massive recruitment.
But, the question is where to find the best talent which is able to fit the job description
and also adjust to the organization’s values and norms. If we scan the environment,
we find there is a shortage of skilled workforce that can be employed.

Some of the possible reasons that have led to the shortage are: -

Demographic Constraints:

          This is a common problem faced by many of the developed countries, where
a large chunk of its population is nearing the age of retirement or is over 50 years.
USA, Germany and Japan are facing the same problem. All these countries will see a
decline in their workforce and talent. In the coming years, they will see a great
shortage in their skilled professionals.

Existing Educational System:

       The graduates and the postgraduates that are being churned out of the
universities are found to be ill-equipped to handle the challenges of the workplace.
36

They are mostly equipped with only the theoretical aspects of the issues and lack the
application part. The educational system is faulty and does not take industry needs
into consideration, resulting in a mismatch between industry requirements and
educational preparation.

Cost Factor:

            Recruiting new employees is becoming tougher and tougher in the
developing countries, where the HR department has to sort out thousands of
applications for a handful of jobs. Finding right person for the right job becomes a
very difficult process. It also involves very high cost to conduct the recruitment and
selection process for such a large population of applicants.

Attracting the Best Talent:

        This is another challenge. As was the case in the past, the best available talent
is not just motivated by the name and fame of the organization. Not any more. They
have a new set of motivators like - challenging work, conducive work environment
and freedom from bureaucratic structure.

The Second Challenge - How to retain the existing employees?

Gone are the days when a person would join an organization in his mid-20s and
would work till his retirement in the late-50s. Today the young professionals hop jobs,
especially during the first 4-5 years of their work life. Though the Indian service
industry is basking in the light of outsourced jobs from the developed countries, they
also cannot ignore the fact that the BPO industry is also facing one of the highest
attrition rates, in fact never heard before in India, of around 35%.

  It is a fact that it’s the people that add value to organizations. It is also a fact that
humans are a restless species who, unlike the immovable Banyan Tree, cannot stay
rooted in one place. People need to move on for one reason or another, and the
organization stands to lose.



Let us look at some of the reasons behind the massive attrition rates: -



    1. Gap between organizational values and goals and the personal values and
       goals is one of the major reasons of the attrition rates. If they go parallel, there
       is no way both would be satisfied and inevitably, the organization would lose
       out on a talented employee.



    2. Working environment is another major factor. Employees in the knowledge
       era demand creative and a democratic work environment. Failure on the part
37

       of the management to provide such an environment will result in a talented
       employee leaving the organization.



   3. The competitive world has made sure that there is high work pressure on the
      employees of any organization. This has led to psychological problems like
      stress, and in extreme situations, total burnouts. It also leads to other health
      related problems.



   4. Movement for higher salary is also common among the younger professionals.
      There is no shortage for organizations who are looking for talented employees
      and who are ready to shell out a hefty salary for a talented person. Other lures
      like better job opportunities, higher posts and overseas assignments are also
      major factors in the attrition rates.



   5. Not taking proper care during the recruitment and selection process and not
      taking proper care to fit the right person to the right job also breeds
      dissatisfaction among the employees.



   6. Bad or opaque policies from management on issues of succession planning
      and promotion, appointments for senior positions also is a major factor which
      makes the organization lose out on the talented employees.



   7. The professionals have different aspirations at different times of their career.
      During the initial years, they have good salary and foreign assignments. Next
      on the list is working on cutting edge technology. More seasoned professionals
      look for learning opportunities. So employees tend to move to those
      organizations which provide them with means to fulfill their aspirations.

Retaining the present employees is of the foremost importance to the organizations
because; the company would have already incurred heavy costs in the form of training
and development. Now if the organization has to look for a replacement for the
employee who has left, it involves a lot of costs like - hiring costs, training costs and
the induction costs.

Also it takes some time for the new employee to adjust to the new work environment.
During this time the productivity of the employee will be low. The HR department
will have to fit the new employee into a proper role in the organization. Apart from
causing the company a monetary loss and breaks in their day-to-day operations,
attrition contributes to knowledge transfer, which is a great loss and adversely affects
business.
38




5.3 How to Manage the TALENT?

It is now proved beyond doubt that, in the era of technology and knowledge, talent is
in the driving seat. One who possesses it dictates. Not he who pays for it. It is the
demand of the time that business leaders elevate management of talent to a burning
corporate priority. It is not a walk in the park for the talent market. Quality people are
no longer available in plenty, easily replaceable and relatively inexpensive.

These are some of the measures that should be taken into account to hire and retain
talent in the organization, to be efficient and competitive in this highly competitive
world: -

Hire the Right People:

     Proper care must be taken while hiring the people itself. It would be beneficial for
an organization to recruit young people and nurture them, than to substitute by hiring
from other organizations. Questions to be asked at this stage are: Whether the person
has the requisite skills needed for the job? Whether the person's values and goals
match with those of organizations? In short, care must be taken to fit the right person
to the right job.



Keep the Promises:

    Good talent cannot be motivated by fake platitudes, half-truths and broken
promises. Unfulfilled expectations can breed dissatisfaction among the employees and
make them either leave the organization or work below their productive level.
Promises made during the hiring stage must be kept to build loyalty among the
employees, so that they are satisfied and work to their fullest capability.




Good Working Environment:

    It has to be accepted by the organizations that highly talented persons make their
own rules. They have to be provided with a democratic and a stimulating work
environment. The organizational rules must be flexible enough to provide them with
freedom to carry out their part of task to their liking, as long as the task is achieved.
39

Opportunities should also be provided to the employees to achieve their personal
goals.

Recognition of Merit:

     It is highly motivating for any person if his talent is recognized and is suitably
rewarded. One way is providing them with salary commensurate with their
performance. Promotions and incentives based on performance are another way of
doing it. Another way is by providing them with challenging projects. This will
achieve two objectives - it makes employee feel that he is considered important (a
highly motivating factor) and gets the work done in an efficient manner and brings out
the best in the employee.

Providing Learning Opportunities:

    Employees must be provided with continuous learning opportunities on and off
work field through management development programs and distance learning
programs. This will also benefit the organization in the form of highly talented
workforce.

Shielding from High Work Pressure:

        If an organization has to make the most of the available talent, they should be
provided with adequate time to relax, so that they can did-stress themselves. It is very
important to provide them with holidays and all-expenses-paid trips, so that they can
come back refreshed to work and with increased energy. They must also be
encouraged to pursue their interests which are also a good way of reducing work
environment stress. Recreation clubs, entertain programs, fun activities with in the
work area will also reduce the work life stress of the employees and develop
camaraderie among the workers and result in a good working environment.
                                      Talent
                                         +
                           Vision/Mission/Strategy
                                         +
                            Skills & Competencies
                                         +
                         TALENT & PERFORMANCE
                                Role & structure
                                         +
                                   Opportunity
Organizations provide individuals the opportunity and space for physically
                                         +
manifesting their talent into performance for achieving individual and organizational
                      Encouragement & Recognition
vision. Talent manifests into performance as follows:
                                         +
                           Training & Development
                                         +
                                    Coaching
                                         +
                              Action Plan & Goals
                                         +
                                    Resources
 Performance
 Management
 System

                                 Performance
40




   Thus the domain of talent management focuses not only on development of
individual’s intrinsic capacities, but also on culture building and change management
to provide the other elements listed above for manifestation of talent into
performance.




The New HR Mission and Talent Management Processes

Many challenging workforce issues confront HR, including:

   •   Heightened competition for skilled workers.
   •   Impending retirement of the baby boomers.
   •   Low levels of employee engagement.
   •   Acknowledgement of the high cost of turnover.
   •   Arduous demands of managing global workforces.
   •   Importance of succession planning.
   •   Off shoring and outsourcing trends.


    This requires new thinking and a new mission to achieve business success. These
factors—coupled with the need to align people directly with corporate goals—are
forcing HR to evolve from policy creation, cost reduction, process efficiency, and
risk management to driving a new talent mindset in the organization.
41


One important distinction is the evolution of the difference between tactical HR and
strategic talent management. Transactional HR activities are administrative
overhead. Talent management is a continuous process that delivers the optimal
workforce for your business.


In this new model—instead of being the owners of processes, forms, and
compliance—HR becomes the strategic enabler of talent management processes
that empower managers and employees while creating business value.


With this view, talent management may be defined as the implementation of
integrated strategies or systems designed to improve processes for recruiting,
developing and retaining people with the required skills and aptitude to meet current
and future organizational needs.


Anecdotally, talent management is often defined as performance management,
incentive compensation, or talent acquisition. Talent management is also often
confused with leadership development. Although leadership development is a
crucial function of your organization, focusing on it exclusively is a legacy of last
century. Our modern service and knowledge economies in the talent age require a
broad and holistic view. A high performance business depends on a wide range of
talent.


Taleo’s graphical representation emphasizes the mandate of talent management to
respond to business goals and consequently be the driver of business performance.
Talent management is depicted as a circular—not a linear—set of activities.

5.4 Why Talent Management?

    Workforce cost is the largest category of spend for most organizations.
Automation and analysis of your recruiting and hiring processes provides the
immediate workforce visibility and insights you need to significantly improve your
bottom line. Performance management provides the ongoing processes and
practices to maintain a stellar workforce.


Today, many organizations are struggling with silos of HR processes and
technologies. The future of talent management is embodied in solutions designed
from the ground up to provide business-centric functionality on a unified talent
management platform.


Since nearly all competitive business factors have become commoditized, talent is
what ultimately drives business success and creates value. Leading organizations
42


rely on Taleo solutions and services to assess, acquire, develop, and align talent
with business objectives while significantly reducing process costs, improving
quality of hire, reducing risk, and achieving higher levels of performance.


 Though it may seem intuitive, it is worthwhile to articulate the fundamental
significance of successful talent management practices:

   •   The key enabler of any organization is talent.
   •   The quality of your people is your last true competitive differentiator.
   •   Talent drives performance.


Talent management requires strong executive support, along with systems and
processes all directed towards having the right talent doing the right work at the
right time. That’s when talent truly drives higher business performance.


Indirect implementation of Talent Management in
Company Ltd., Nasik Works. By following Steps:



                         Performance appraisal




                              Career Planning




                           Succession Planning
43


     Training and Development




Chapter 6: Performance
           Appraisal
44




   Chapter: 6 Performance appraisals
6.1 What is Performance Appraisal?

 Meaning: - Performance appraisal is a method of evaluating the behavior of
employees in the work spot, normally including both the quantitative and qualitative
aspects of job performance. Performance here refers to the degree of accomplishment
of the tasks that make up an individual‘s job. It indicates how well an individual is
fulfilling the job demands. Often the term is confused with effort, but performance is
always measured in terms of results and not efforts.

Need of Performance Appraisal:
         -Performance appraisal is needed in order to:

   (1)      Provides information about the performance ranks, basing on which
            decision regarding salary fixation, confirmation, promotion, transfer and
            demotion are taken.

   (2)      Provide feedback information about the level of achievement and behavior
            of subordinate. This information helps to review the performance of the
            subordinate, rectifying performance deficiencies and to set new standards
            of work, if necessary.

   (3)      Provide information, which helps to counsel the subordinate.

   (4)      Provide information to diagnose deficiency in employee regarding skill,
            knowledge, determine training and developmental needs and to prescribe
            the means for employee growth provides information for correcting
            placement.

   (5)      To prevent grievances and in disciplinary activities.
45




Purpose

      Performance appraisal aims at attaining the different purpose. They are:
  (1)    To create and maintain a satisfactory level of performance.

  (2)     To contribute to the employee growth and development through training
          self and management development programs.

  (3)     To help the superiors to have a proper understanding about their
          subordinates.

  (4)     To guide the job changes with the help to continuous ranking.

  (5)     To facilitate fair and equitable compensation based on performance.

  (6)     To facilitate for testing and validating selection tests, interview techniques
          through comparing their scores with performance appraisal ranks.

  (7)     To provide information for making decisions regarding lat off,
          retrenchment etc.

  (8)     To ensure organizational effective through correcting employee for
          standard and improved performance, and suggesting the change in
          employee behavior.


  6.2 Methods of Performance Appraisal:

               The methods of performance Appraisal are basically classified as
  Traditional Methods, Modern Methods and result – Oriented Appraisal: -

  a)      The Traditional Methods consists of ‘Graphic Rating Scales’,’ Ranking
          Method’,’ Paired comparison Method’, ‘Forced Distribution Method’,
          ‘Checklist method’, ‘Essay or free from APPRAISAL’, ‘Group Appraisal
          and ‘confidential Report’.

  b)      Modern Methods of evaluating performance appraisal are ‘Behaviorally
          Anchored Rating Scales’, Assessment Center’, Human Resource
          Accounting’, Management by objectives’, Psychology Appraisal’.
46


Uses of Performance Appraisals:-

   Performance Improvement: Performance feedback allows the employee,
    manager, and personnel specialists to intervene with appropriate actions to
    improve performance.

   Compensation Adjustments; Performance evaluations help decision-
    makers determine who should receive pay raises. Many firms grant part or
    all of their pay increases and bonuses based upon merit, which is
    determined mostly through performance appraisals.



   Placement Decisions: Promotions, transfers, and demotions are usually
    based on past or anticipated performance. Often promotions are a reward
    for past performance.

   Training and Development; Poor performance may indicate the need for
    retraining. Likewise, good performance may indicate untapped potential
    that should be developed.

   Career Planning and Development: Performance feedback guides career
    decisions about specific career paths one should investigate.

       Staffing Process Deficiencies: Good and Bad performance implies
      strength or weakness in the personnel department‘s staffing procedures.

   Informational Inaccuracies: Poor performance may indicate errors in job
    analysis information, human resource plans, or other parts of the personnel
    management information system. Reliance on inaccurate information may
    have led to inappropriate hiring, training, or counseling decisions.

   Job Design Errors: Poor performance may be a symptom of ill-conceived
    job designs. Appraisals help diagnose these errors.




   Equal Employment Opportunity: Accurate performance appraisals that
    actually measure job – related performance ensure that internal placement
    decisions    are not discriminatory.

   External Challenges: Sometimes performance is influenced by factor
    outside the work environment, such as family, financial, health, or other
    personal matters. If uncovered through appraisals, the human resource
    department may be to provide assistance.

   Feedback to Human Resources: Good/bad Performance throughout the
    organization indicates how well the human resource function is
    performing.
47




               METHODS OF PERFORMANCE APPRAISAL
                Traditional and modern Methods of Performance Appraisal




Traditional methods                                           Modern Methods

1) Graphic rating scales                      1) Behaviorally anchored rating scales
2) Ranking Method                             2) Assessment centers
3) Paired comparison method                   3) Human Asset accounting method
4) Forced distribution method                 4) Management by Objectives method
5) Checklist methods                          5) 360° Performance appraisal method
a) Simple Checklist
b) Weighted checklist
c) Critical incident method
6) Essay from appraisal
7) Group appraisal
8) Confidential reports.
48




   6.3 How implement performance appraisal.

   Introduction
      Now a day’s Performance appraise is very important from company point of
   view. It is use to take various managerial decision. E.g. decision regarding
   employee’s increment or decision regarding employee’s future career planning
   etc. In Company they use “Grading and Ranking “method to appraise performance
   of there employee.

   Who Appraise

                 Performance appraise by Head of the department or from the
superior. They did not conduct performance appraisal on officer’s level it conduct
only on officer’s basis.
     In Company Performance is appraising by head of the department, Supervisor,
manager, etc.

Process:

     Head of the department submit one copy of performance appraisal to HR
Department and discuss with the employee whose performance is down. One copy of
performance appraisal report is attached to that employees personnel file as a record.
     If that employees performance is going down then head of the department can
talk with that employee regarding increase performance. Even Hr Manager also
should talk with that employee to know his problem and HR Manager should
motivate that employee to increase performance.

 Employees increment is depend upon there performance. Head of the department or
HR manager may stop increment of employee regarding low performance.



General use of performance report in Any Company:
49



   Need of training.

             Head of the department or HR manager can decide whether employee
needs training for good performance or not.



Career Planning.

      Career planning generally use to retain skilled employee. They can find out
skilled employee for skilled employees career planning from performance appraisal
report.

Succession planning:

      From performance appraisal Report Company can select candidate to make
succession planning.

Benefits of employee to company

           Company’s employee are company’s asset, it is helpful to calculate that
company’s employee how much give returns to company. Or which employee is
beneficial for company and which is not beneficial.
50




Chapter 7: Career Planning
51




Chapter: 7 Career Planning


7.1 Introduction and meaning

Introduction

        The career is all the jobs that are held during ones working life. According
to ‘E.B. Flippo’, career is a sequence of separate but related work activity’s that
provides continuity, order and meaning in a person’s life.

Definition:

1) Edwin Flippo define a career as a sequence of separate but related work
   activities that provides continuity, order and meaning in a persons life.
2) Wreather and Davis defined various terms of career planning as given below:

      A career path is the sequential pattern of jobs that form a career (as per
   figure). Career Planning is the process by which one selects career goals and
   the path to these goals. Career development is these personal improvements
   one undertakes to achieve a personal career plan.

3) Career management is the process of designing and implementing goals, plan
   and strategies to enable the organization to satisfy employee needs while
   allowing individuals to achieve their career goals.

Life and career Stages

       Human resource managers must understand the issues that individuals face
throughout their careers. A study of career development theories, life development
theories and interrelationship among career stages and life stages will provide and
52

understanding of the issues that the individual face. Career and life stages are
closely related as both are linked to age and cultural norms.




Need for career planning

Career planning is necessary due to following reasons


1) Attract competent person

             To retain the competent person or to attract them company need
           career planning, because this kind of person are company’s asset.
           Competitors can try to hire this person so, company always try to
           retain these person.

2) Provide suitable promotional opportunities

           To give exposure for employee’s knowledge and talent, Career
           planning is important.

3) Training for future challenges

           Enable employee to develop and make them ready to meet the future
           challenges.

4) reduce job dissatisfaction

           It helps to increase job satisfaction for employee.
           When employee get exposure to show skill and when he learn more
           from job profile at that time job satisfaction automatically increase.

5) Improve motivation and morale

           Career Planning is useful to improve motivation and morale of
           employees.

7.2 Process of Career Planning.

a) Analysis of individual skills, knowledge, abilities, aptitudes etc.
53

b) Analysis of career opportunities both within and outside of organization.


c) Analysis of career demand on the incumbent of skills, knowledge, abilities,
   aptitude, etc., and in terms of qualifications, experience and training received
   etc.

d) Relating specific ob to different career opportunities.


e) Establishment of realistic goals both short term and long term.

f) Formulating career strategy covering areas of change and adjustment.


g) Preparing and implementing action plan including acquiring resources for
   achieving goals.


Varies stages of career planning and development are shown in
figure.




              Successful Matching




                                   Mismatching
54




Advantage of Career planning and development
For individuals

1) It helps to the individuals to have the knowledge of various career
   opportunities, his priority’s etc.
2) It helps to select career which is suitable for his life styles, preferences, family
   environment, scope for self-development etc.
3) It helps the organization identify internal employees who can be promoted.
4) Internal promotions, up-gradations and transfers motivate the employees;
   boost up their morale and also satisfaction.
5) Increase job satisfactions enhance employee commitment and create a sense of
   belongingness and loyalty to the organization.
6) Employee will await his turn of promotion rather than changing to another
   organization.
7) It helps to improve employee performance on the job by taping their potential
   abilities and further employee growth.
8) It satisfied employee esteem needs.



For organization


1)      The efficient policies and practices improve the organization’s ability to
   attract and retain highly skilled and talent employees.
2)      A proper Career Planning ensures that the woman and people who
   belongs to the backward communities get opportunities for growth and
   development


3)       It continuously tries to satisfy the employee expectations and such as
     minimizes employee frustrations.

4)       By attracting and retaining the people from different cultures, enhances
     cultural diversity.


5)       Protecting employee’s interest result s in promoting organizational good
     will.
55




7.3 Implementation of Career Planning

        Career Planning is generally done by every organization. But method of
career planning can differ.
career planning for company’s employee, as follows:

Activity for Career Planning:

       Training and development:

                Most of the time company can try to retain the skilled employee,
therefore company provide various type of knowledge or training, for company
benefits as well as employee.

Transfer department to department or unit to unit

                 If any employee would like to work in specific department or unit
for his skilled work and if it will beneficial for company then it’s also part of
career planning.


Promotion

   In career planning, promotion is also a one part. To retain the skilled
employee. Company makes promotion of this kind of employee.




☻Career planning at Officer’s levels:
56

           For career planning company refer report of Performance appraisal, from
   that report they sort out an employee whose performance is above expectations.
   For this kind of employee they conduct career planning to retain that particular
   employee.

   •   Analyze skill of worker:

          They analyze skill of worker by performance appraisal’s report, and then
   they decide career planning of employee.

   • Transfer of worker:

          They search about interest of employees in his work profile.
   And then they decide whether transfer of worker is suitable or not. Or change in
   work profile is suitable or not.

   Promotion:

      They decide about employee’s promotion if required and his training
   They analyses whether training is required for employee or not.
   As per the need of organization HR head make his career planning for promotion.

   Use of performance appraisal report:

      By Performance appraisal report, company can decide whether that employee
   should promote or not,
      They can study about employee’s job satisfaction, his job skills, his talent etc.

   Job enrichment

        Most of the time company checks job enrichment of employee, to check
capacity of work within a given time as well as their skills also. Job enrichment is
helpful to increase skills in employee.




   7.4 Succession Planning

Introduction

        Success, growth and survival are the most important responsibilities of the
top management of the organization. Succession planning is the activity connected
with the succession of incumbents to fill the key positions in the organizations
hierarchy as and when a vacancy arises. Succession planning focus on identification
of vacancies and locating the probable successor. It provides the succession chart in
respect of a particular position.
57

  The succession planning ensures the availability of the right kind of the
management staff at the right time and in the right position in order to provide for
continued organizational vitality and strength.

What is Succession Planning?

       Succession planning is the systematic identification and professional
development of internal talent. Its goal is to cultivate internal human capital in
preparation for assuming leadership roles and other key positions that may become
vacant due to retirement, expected or unexpected separations.

       For Succession planning for management staffing plans are required to be
   developed properly on an individual basis for all anticipated needs in the
   immediate year a head and also for key positions. The business plans must be
   reviewed to determine there effects on managerial needs. Succession planning is
   one of the important functions of the top management. In fact the direct
   responsibilities of the chief executive and the top management group.


   For Example:

            Suppose, Mr. A will retire within some days, from the post of “Production
   Manager” Then HR manager should place right person who will able to carry
   liability of that post. For selection of right person as well as to give idea about job
   to candidate, mostly HR Manager prepare planning, like: HR Manager will place
   candidate under supervision of Mr. A to learn difficult things of job, or he will
   give training to that candidate or he will search a candidate who already have idea
   about job profile of “Production Manager”, i.e. “Succession planning.”

          In short when any employee or candidates leave job, HR manager should
   prepare plan to place correct candidate on that post.

   What is need for succession planning: -

           To make succession planning following points are important.

   1)   Job Information
   2)   Job analysis
   3)   Job profile
   4)   Qualification and Experience define. Etc.
   5)   Availability of candidate
   6)   Analysis of Selection process


   Benefits of Succession planning:
   1) Facilitates communication & knowledge management
   2) Uninterrupted work productivity
   3) Leadership continuity

   1) Custom designed training programs
58



   2) Candidate can understand job easily.
   3)

Challenges of Effective Succession Planning

   Successful succession planning, as we've seen, is an ongoing and complex
endeavor that is necessarily broad in scope. It therefore presents significant barriers to
both implementation and long-term maintenance. Here are some of the more
challenging obstacles:

   •   MULTIPLE OWNERS:

       Traditionally, HR has been considered owner of the succession planning
   process, but meaningful success really requires a genuine sense of ownership and
   commitment at many levels of the organization. While HR may be best positioned
   to oversee the process, it can never fully know or evaluate every process
   participant the way managers and supervisors can.

   •   NUMBER OF POSITIONS:

        All but the smallest of organizations have a substantial number of positions
   critical to long-term performance, whether these involve leadership skills or
   technical expertise that would be difficult to quickly replace. Comprehensive
   succession planning must incorporate all such positions; yet, as the number of
   positions grows so too does the administrative burden.

   •   STRATEGIC ALIGNMENT:

      Succession plans need to reflect long-term organizational goals and strategies.
   Companies must give thoughtful consideration not only to the plan's design and
   implementation, but also to sustaining the process over time. As strategies and
   goals shift, so too must the plan if the organization is to recruit and develop the
   workforce its future success will require.

   •   ORGANIZATIONAL COMPLEXITY:

      Conglomerate, geographically dispersed, multi-industry, and other complex
   organizational forms significantly increase the challenge of succession planning.
   Often, higher-level positions require well-designed cross training to inculcate the
   unique knowledge and skills success in the organization requires.

   •   ORGANIZATIONAL CHANGE:

        As companies evolve in response to marketplace threats and opportunities, the
   skills, talents, and expertise they will need to thrive evolve, as well.
59

•    EFFECTIVENESS & EFFICIENCY:

    The larger and more complex an organization, the more challenging it is to
maintain an effective and efficient succession planning process. Yet, by definition,
the best process is the one that enables the firm to identify the best candidate in
least amount of time and at the lowest cost.




    Having this process in place is vital to the success of the organization because
the individuals identified in the plan will eventually be responsible for ensuring
the company is able to tackle future challenges. These 'high potential' candidates
must be carefully selected and then provided training and development that gives
them skills and competencies needed for tomorrow's business environment.

Another reason its important is because these high potentials will one day become
the leaders of the Company. This is why their development needs to incorporate a
broad range of learning opportunities in your organization. The individuals should
also be exposed to as much of the working environment as possible so that they
gain a good understanding of what the company requires to remain successful.




7.5 Implementation of Succession Planning:

        Succession panning is the planning to place a person on another
employee’s place who will retire after one or two year.
    Succession planning is conduct in every organization. It is a part of Career
planning.


    Officer’s level:

    At officer’s level Succession planning conduct by following methods.

    1) Personal meeting
               Head of the department take the personnel meeting with the
    employee who is going to retire because he wants to know that employee’s
    opinion about to place new right candidate on his place.

    2) Employee dialogue:
                 Employee dialogue is a dialogue between employee (who will go to
    retire) and head of the department, regarding place new candidate at his post,
    which have ability to fulfill requirements of job.


    3) Opinion of subordinate:
60

                        The head of the department should consider the opinion of
       other staff or subordinate also.


Employee assessment centre

    Introduction

         This method was first applied in Germany Army in 1930. Later business
and industrial houses started using this method. This is not a technique of a
performance appraisal by itself. In fact it is a system or organization, where
assessment of several individuals is done by various experts by using various
techniques.
          In these approach, individual from various department are bought
together to spend two or three days, working on an individual or group assignment
similar to the ones they would be handling when promoted. Observers rank the
performance of each and every participant in order of merit. Since assessment
centre are basically meant for evaluating the potential of candidates to be consider
for promotion, training and development, they offer an excellent means for a
conducting evaluation process in an objective way. All assess get an equal
opportunity to show their talent and capabilities and secure promotion based on
merit. Since the evaluators know the position requirements intimately and are
trained to perform the evaluation process in an objective manner, the performance
rating may find favor with majority of the employees. A considerable amount of
research evidence is available to support the contention that people chosen by this
method prove better than those chosen by other methods. The centre enable
working in a low status department to compete with people from well-known
departments and enlarge there promotional chances. Such opportunities, when
created on regular basis, will go a long way in improving the morale of promising
candidates working in less important positions.




Employee assessment centre:

       Employee assessment is a committee of a Psychiatrist, advocate,
consultant etc. there are 3 to 5 people on the committee. They give a one task to
the employee and he should complete that task within a given time e.g. Give a
presentation on specific topic within half an hour.


Work of the Committee:

•    Mainly committee observes how employee can survive in specific situation.
     How he can handle situation.

•    They try to find out the tendency of employee.
61



•   They try to find out method of thinking of employee.

    In employee assessment they consider only an officers career planning.
62




Chapter 8: Training and
           Development




   Chapter 8: Training and Development
8.1 Meaning and Definition

Introduction

         After an employee selected, placed and introduced her or she must be
provided with training facilities. Training is the act of increasing the knowledge and
skills of an employee for doing a particular job. Training is a short-term educational
process and utilizing a systematic and organized procedure by which employees learn
technical knowledge and skills for a definite purpose. Dale S. Beach Define training,
“The organized procedure by which people learn knowledge and/or skill for a definite
purpose.”

        In other words training improves, changes, moulds the employee’s
knowledge, skill, behavior, aptitude, and attitude towards the requirements of the job
and organization. Training refers to the teaching and learning activity carried on for
the primary purpose of helping members on an organization, to acquire and apply the
knowledge, skills, abilities and attitudes needed by a particular job and organization.
        Thus, training bridges the difference between job requirement and employee’s
present specifications.
63



No organisat5ion matches the candidate who exactly matches with the job and the
organizational requirements. Hence, Training is important to develop the
employee and make him suitable to the job.
Job and organizational requirement are not static, they are changed from time to
time in view of technological advancement and change in the awareness of the
total quality and productivity Management(TQPM). The objective of the TQPM
can be achieved only through training as training develops human skills and
efficiency. Trained employees would be a valuable asset to an organization.

Benefits of training

       For organization

   •   Lead to prove profitability and/or more positive attitudes towards profit
       orientation
   •   Improves the job knowledge and skills at all level of the organization
   •   Improves the morale of workforce
   •   Helps people identify with organizational goal
   •   Helps create a better corporate image
   •   Aids in organizational development
   •   Learns from the trainee
   •   Helps to prepare guideline for work
   •   Organization gets more effective decision making and problem solving
   •   It helps to improve labor-management relations.

   Benefits to the individual which in turn ultimately should benefit the
   organization

   •   Helps the individual in making better decisions and effective problem
       solving
   •   Through training and development, motivational variables of achievement,
       growth, responsibilities and advancement are internalized and
       operationised
   •   It helps to an individual to handle stress tension or conflicts.
   •   It provides information to improve leadership knowledge.
   •   Develops a séance of growth in learning
   •   Improves morale
   •   Improves impersonal skills


8.2 Need for training

Need for training arises due to following reasons:
 4) To match the employee specification with the job recruitment and
      organizational needs:
       An employee’s specification may not exactly suit to the requirement of the
 job and the organization irrespective of his past experience, qualifications, skills
64

knowledge, etc. Thus every management finds deviation between employee’s
present specifications and the job requirements and organizational needs.
Training is needed to fill this gap by developing and molding the employee’s
skill, knowledge attitude behavior etc. to the tune of the job requirements and
organizational needs.

5) Technological advances:
          Every organization in order to survive and to be effective should adopt
the latest technology, i.e. mechanization, computerization, automation.
Adoption of the latest technology means and methods will not be complete until
they are manned by employees possessing skill to operate them. So,
organization should train the employee to enrich them in the areas of changing
technical skills and knowledge from time to time.

6) Human relations:
        Trends in approach towards personel management have change from
the commodity approach to partnership approach, crossing the human relations
approach. So, today, management of most of the organization has to maintain
human relations besides maintaining sound industrial relations although hitherto
the managers are not accustomed to deal with workers accordingly. So, training
in human relations is necessary to deal with human problems and to maintain
human relations.

7) Change in the job assignment:
           Training is also necessary when the existing employee is promoted to
the higher level in the organization and when there is some new job or
occupation due to transfer. Training is also necessary to equip the old
employees with the advanced disciplines techniques or technology.

The need for training also arises to:

   •   Increase productivity
   •   Improve quality of the product / Services
   •   Help a company to fulfill its future personnel needs.
   •   Improve organizational climate.
   •   Improve health and safety.
   •   Prevent obsolescence
   •   Effect the personnel growth
   •   Minimize the resistance to change.


Stages in training as follows

Stage 1      Assessment of training needs
65


    Stage 2         Design the training program



    Stage 3         Implementation.




    Stage 4         Evaluation of training program.




  8.3 Methods of Training




                             Methods of training




On-job methods                                         Off-job methods




  Job relations                                        Lectures/Conferences
  Coaching                                                     Films
  Job instruction                                     Simulation Exercise
66

Training through                                                     Cases
Step by step                                             Programmed instructions
Committee assignments                                     Audio visual methods
Internship training                                      Computer based training
                                                                E-Learning.



The most widely used methods of training used by organizations are classified
into two categories: On-the-Job Training & Off-the-Job Training.

ON-THE-JOB TRAINING
       It’s given at the work place by superior in relatively short period of time.
This type of training is cheaper & less time-consuming. This training can be
imparted by basically four methods: -

Coaching
     It is learning by doing. In this, the superior guides his sub-ordinates & gives
him/her job instructions. The superior points out the mistakes & gives suggestions
for improvement.

Job Rotation: -
      In this method, the trainees move from one job to another, so that he/she
should be able to perform all types of jobs. E.g. In banking industry, employees
are trained for both back-end & front-end jobs. In case of emergency,
(absenteeism or resignation), any employee would be able to perform any type of
job.

OFF THE JOB TRAINING: -

     It is given outside the actual work place.

Lectures/Conferences:-

     This approach is well adapted to convey specific information, rules,
procedures or methods. This method is useful, where the information is to be
shared among a large number of trainees. The cost per trainee is low in this
method.

Films: -

 It can provide information & explicitly demonstrate skills that are not easily
presented by other techniques. Motion pictures are often used in conjunction with
Conference, discussions to clarify & amplify those points that the film
emphasized.

Simulation Exercise: -

   Any training activity that explicitly places the trainee in an artificial
environment that closely mirrors actual working conditions can be considered a
67

Simulation. Simulation activities include case experiences, experiential exercises,
vestibule training, management games & role-play.

Cases: -

   Present an in depth description of a particular problem an employee might
encounter on the job. The employee attempts to find and analyze the problem,
evaluate alternative courses of action & decide what course of action would be
most satisfactory.

Experiential Exercises: -

    Are usually short, structured learning experiences where individuals learn by
doing. For instance, rather than talking about inter-personal conflicts & how to
deal with them, an experiential exercise could be used to create a conflict situation
where employees have to experience a conflict personally & work out its
solutions.

Vestibule Training: -
     Employees learn their jobs on the equipment they will be using, but the
training is conducted away from the actual work floor. While expensive, Vestibule
training allows employees to get a full feel for doing task without real world
pressures. Additionally, it minimizes the problem of transferring learning to the
job.

Role Play: -
    It’s just like acting out a given role as in a stage play. In this method of
training, the trainees are required to enact defined roles on the basis of oral or
written description of a particular situation.



Management Games: -
    The game is devised on a model of a business situation. The trainees are
divided into groups who represent the management of competing companies.
They make decisions just like these are made in real-life situations. Decisions
made by the groups are evaluated & the likely implications of the decisions are
fed back to the groups. The game goes on in several rounds to take the time
dimension into account.

In-Basket Exercise: -
     Also known as In-tray method of training. The trainee is presented with a
pack of papers & files in a tray containing administrative problems & is asked to
take decisions on these problems & is asked to take decisions on these within a
stipulated time. The decisions taken by the trainees are compared with one
another. The trainees are provided feedback on their performance.
68




8.4 Implementation of training and Development:

Method of training:
    Method of training is totally depending upon the profile of training. E.g. for
technical training if possible then they give on-job training otherwise company
use method of off job training.


Procedure of training:

Assessment of need of training:

      It is the first step of training procedure. Head of the department and HR
department assess the need whether employee need training or not. They find
employee who require training.

Prepare budget for training:

    HR manager decide budget for training by considering its cost from the
market. And benefits for the company.

Search for Internal or External trainer:

 Internal Trainer:
69

            After assessment of need of training, they search for a trainer in
theirs company who can train there employee. They search trainer among their
employees.

External trainer:

    If they didn’t find internal trainer then they go for External trainer. They try to
find external professional trainer from their personnel contact, by giving
advertisement in news paper etc.

Design program for training:

         HR manager or head of the department present there need to trainer.
They assess type of training and design training program by the help of trainer
within the budget.

Report to head of the plant:
           HR manager give the details about training to head of the plant and
sanction the approval of training.

Implementation:
       After designing the program for training, they implement in practical in
their employee.
70




Chapter 9: Collection, analysis &
     interpretation of data
71




    Chapter: 9

Introduction of Data Analysis.
                 The word Analysis means the process of breaking down a Complex set
of facts into simple element while Interpretation     stands for the explanations which
analyzed the statements and also make out or bring out the meaning of creative work.


                 Analysis and Interpretation are done according to department wise and
according to questionnaire. This analysis and Interpretation will definitely help to the
company for the future strategies. Following are the analysis and Interpretation of the
results.
      These all analysis is imagine for general company. It is very necessary to
understand the psychological tendency of employee. Because it is a quietly subjective
so it will slightly deviate the opinion of the employee.
           The Department of the company where I conduct survey. There are 100
employees in each department. Total employees are 500.
              1. Purchase
              2. Finance
              3. Production
              4. Packing and dispatch
              5. Research and Development
72




 Table No 9.1
 Survey in Purchase Department:
         Option                 Responses              Percentage
             Yes                    70                     70
              No                    30                     30
             (Source: Primary data: Questionnaire)



                   S urvey in P urc hac e Department
G raph No 9.1


       30%




                                                                    Y es   No



                                                     70%




   Figure No. 9.1/7(Source: primary data survey questionnaire)


 INTERPRETATION: -
73

  The above pie-diagram shows that 70% of employees of purchase department are
highly satisfied with the Talent Management process. Hence, we can say in Purchase
department talent management is effective process for employee as well as
organization.




Survey in Finance Department:
         Option                    Responses                    Percentage
           Yes                        72                            72
           No                         28                            28
(Source: Primary Data: Questionnaire)
74




                     S urvey in F inanc e Department



    G raph No 9.2


                          28%




                                                                         Y es   No




                                                              72%




Figure No. 9.2/7(Source: primary data survey questionnaire)
INTERPRETATION: -
  The above pie-diagram shows that 80% of employee of finance department are
highly satisfied with the Talent Management process, 10%are satisfied, 6% are
natural, 4%are dissatisfied. Hence, we can say in Finance department, talent
management is effective process for employee as well as organization.
Survey in Production Department:
        Option                      Responses                   Percentage
                                       65                               65
           No                          35                               35
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
Talent mnagement- MBA(HR) project
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Talent mnagement- MBA(HR) project
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Talent mnagement- MBA(HR) project

  • 1. A Project report on “Talent Management Survey” In COMPANY Ltd. A Project Report submitted in partial fulfillment of the requirements for the degree of Master of Business Administration By Amol Bhagwan Kasar PRN: Kalyani Ravindra Sapkal College of Management Studies, Sapkal Knowledge Hub, Kalyani Hills, Anjaneri-Wadholi, Trimbakeshwar Rd, Nashik-422212. Tel-(02594)220165. Project Guide: Mrs. Manisha Gaikwad To Pune University-Pune-411007 Year-2008-10
  • 2. 2 ACKNOWLEDGEMENT Words put on paper are mere ink marks, but when they have a purpose there exist a thought behind them. I too have a purpose to express my gratitude towards those individuals without whose guidance the project would not have been possible. I would like to express my thanks to Mr. G. M. Pitale (Head Personnel Division), COMPANY Ltd. Who has kindly permitted me to undertake the project in the organization. I am also thankful to Mrs. Alka Jadhav and other members of the organization for their support and providing the required information. It was a pleasure to be associated with COMPANY Ltd. The experience that I have garnered has had a profound impact on my career choices and has helped me realize what is requisite for success in the corporate world. I carry high regards for the complete team of COMPANY Ltd. I also take this opportunity to express a great sense of gratitude towards our Director, Dr. B. B. Rayate and internal project guide Mrs. Manisha Gaikwad for providing me vital inputs to co-relate the present project work and hence provide a sound base to the report structure. A special word of thanks also goes to all the teaching and non teaching staff of my institute and my Friends. Date: 07-11-09 Amol B. Kasar
  • 3. 3 DECLARATION I hereby declare that this Project Report titled Talent Management submitted by me is based on actual work carried out by me under the guidance and supervision of Mrs. Manish Gaikwad. Any reference to work done by any other person or institution or any material obtained from other sources have been duly cited and referenced. It is further to state that this work is not submitted any where else for any examination. K. R. Sapkal college of Signature of Student Management Studies. Kalyani Hills, Sapkal Knowledge Hub, Anjaneri-Wadholi, Trimbakeshwar Rd, Nashik-422212. Amol. B. Kasar Tel-(02594) 220165. Date: 07-11-09
  • 4. 4 CERTIFICATE FROM THE GUIDE This is certify that Amol Bhagwan Kasar has completed the Project Report on Talent Management under my guidance and supervision , and submitted the report as laid down by Pune University, Pune. The material that has been obtained from other sources is duly acknowledged in the report. It is further certified that the work or its part has not been submitted to any other university or examination under my supervision. I consider this work worthy for the award of the degree of Master in Business Administration. K. R. Sapkal college of Signature of Guide Management Studies. Kalyani Hills, Sapkal Knowledge Hub, Anjaneri-Wadholi, Trimbakeshwar Rd, Nashik-422212. Name: Tel-(02594) 220165. Date:
  • 5. 5 Talent Management Survey Index Sr. No. Contents Page No. 1 Chapter 1: Introduction 7-11 1.1 Object of the project 1.2 Introduction of study 1.3 Objectives of the study 1.4 Rationale of the study 1.5 Scope of the Project 1.6 Limitations of the Study 2 Chapter 2: Research Methodology 12-17 2.1 Review of literature 2.2 Research Design and sample size 2.3 Primary and secondary data and its sources 2.4 Statement of hypothesis 3 Chapter 3: Profile of the 18-25 Organization 3.1 Introduction of the organization 3.2 Network/Products/Branches of organization 3.3 Flow Chart of the organization 3.4 Mission of the organization 4 Chapter 4: Introduction of Talent 26-30 Management 4.1 Introduction of Talent Management 4.2 Talent Management v/s Traditional HR Approach 4.3 Understanding Talent 4.4 Human Capital Management
  • 6. Sr. Name of Chapter Page 6 No. No. 5 Chapter 5: Talent Management 31-42 5.1 Meaning and Definition of Talent Management, Importance of Talent Management. 5.2 Challenges of Talent Management, 5.3 How to Manage Talent? 5.4 Steps involved in Talent Management Process 6 43-49 Chapter 6: Performance appraisal 6.1 What is Performance appraisal? 6.2 Methods of Performance appraisal 6.3 How performance appraisal conduct in Company Ltd. 7 50-60 Chapter 7: Career Planning 7.1 Meaning, Definition and procedure of Career planning, 7.2 Benefits of Career Planning, 7.3 How implement career planning in Company Ltd, Nasik. 7.4 Succession Planning: Meaning, Definition Importance. 7.5 Implementation in Company of succession planning. 8 61-69 Chapter 8: Training and Development 8.1 Training and development: Meaning, Definition, Procedure, method. 8.2 How training is necessary for Development 8.3 Method of training 8.4 How training is conduct in Company ltd. Nasik? Documentation and procedure for training in Company ltd. Nasik. 9 Chapter 9: Conclusion and testing of 72-80 hypothesis 10 Chapter 10: Suggestions and 81-85 recommendations 11 Appendices 86-89 I Questionnaire II Bibliography
  • 7. 7 Chapter 1: Introduction Chapter 1
  • 8. 8 1.1 Introduction of the study Talent Management Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities. Talent Management is beneficial to both the organization and the employees. The organization benefits from: Increased productivity and capability; a better linkage between individuals' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people's jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction. In these days of highly competitive world, where change is the only constant factor, it is important for an organization to develop the most important resource of all - the Human Resource. In this globalize world, it is only the Human Resource that can provide an organization the competitive edge because under the new trade agreements, technology can be easily transferred from one country to another and there is no dearth for sources of cheap finance. But it is the talented workforce that is very hard to find. Talent signals an ability to learn and develop in the face of new challenges. Talent is about future potential rather than past track record. So talent tends to be measured in terms of having certain attributes, such as a willingness to take risks and learn from mistakes, a reasonable (but not too high) level of ambition and competitiveness, the ability to focus on ‘big picture’ issues, and an awareness of their own strengths, limitations and impact on others. Several talent management processes need to be in place on a strategic level in order ensure its success. Such processes/strategies include talent identification, recruitment & assessment, competency management, performance management, career development, learning management, compensation, succession planning etc. Talent management has a number of benefits to offer such as employee engagement, retention, aligning to strategic goals in order to identify the future leadership of the organization, increased productivity, culture of excellence and much more.
  • 9. 9 1.2 Objectives of Study:- In the current scenario of cutthroat competition, every company has to survive to satisfy its customers by providing them quality products and services. The summer training at Company, was undertaken with a view to study certain fundamental as well as the commercial and operational aspects of the company. The training involved the study of the following: • To understand the entire procedure of Talent management • To understand the need of Talent Management • To study the accuracy and quality of work of employees by talent management procedure. • To suggest possible improvement in Talent Management process. 1.1 Rationale of the study
  • 10. 10 The ‘talent’ in an organization refers to the current employees and their valuable Knowledge, skills and competencies. Talent management (or succession management) is the ongoing process of analyzing, developing and effectively utilizing talent to meet Business needs. It involves a specific process that compares current talent in a department to the strategic business needs of that department. Results lead to the development and implementation of corresponding strategies to address any talent gaps or surpluses. Talent management for the HR Community is a priority of the HR Strategy for the HR Community. Not only does the HR Strategy support the HR Community as its own professional group, but it also recognizes and will support the role human resource professionals have to help their clients become skilled, committed and accountable public servants. The implementation of a talent management process that is transparent and equitable is expected to create an environment for people to develop their skills in preparation for a range of future possibilities thereby preparing the workplace for changing roles. The goal of this process is to map the business needs of the HR Community with the potential and career development needs of our people in order to develop a comprehensive Talent Management Plan. 1.2 Limitations of Study:-
  • 11. 11 1) All the functions are only related with the personnel department. 2) Limitation about the working hour of the worker in the factory. 3) Limitation about the time and absenteeism. 4) Company not allowing to disclose confidential information 5) Time factor was the major limitation of this survey. Because during survey any activity of organization which is directly or indirectly related to the production process should not disturb due to survey. Object of the project: This “Talent Management” Project I completed from Company, For the fulfillment of the full time course of MBA of Pune university for the year 2009-2010. In Company I made research on Talent Management process because company want to know that, is it talent management is really beneficial for them or not. I proved them that talent management is really beneficial for company by doing this project. I completed this project because it was a requirement of our MBA full time course. I learned various things in this project, like audit, SAP HR module, personal administration. Etc.
  • 12. 12 Chapter 2: Research Methodology
  • 13. 13 Chapter 2: Research Methodology Review of literature TALENT MANAGEMENT V/S TRADITIONAL HR APPROACH Traditional HR systems approach people development from the perspective of developing competencies in the organization. This can actually be a risk-prone approach, especially for companies operating in fast evolving industries, since competencies become redundant with time and new competencies need to be developed. Thus, over time, the entire approach to development of people might be rendered obsolete calling for rethinking the entire development initiative. Talent management on the other hand focuses on enhancing the potential of people by developing capacities. Capacities are the basic DNA of an organization and also of
  • 14. 14 individual potential. D Point of Departure N Navigation A Point of Arrival In fact, the following appropriately describes the role of talent management: Translating organizational vision into goals and mapping the required level of capacities and competencies to achieve goals aligning individual values and vision with organizational values and vision. Clear understanding of the varied roles within the organization and appreciation of the value-addition from self and others leading to building a culture of trust, sharing and team orientation. Assessment of talent to profile the level of capacities and set of competencies possessed within the organization. Enhancing capacities to learn, think relate and act through development initiatives. Individual growth to meet and accept varied incremental and transformational roles in an overall scenario of acknowledged need for change. Gap analysis and identification of development path helping individuals realize their full potential through learning & dev. Developed individuals enabling breakthrough performance 4.3 Understanding Talent The idea of developing talent is not a new concept in any business. In fact every successful company that has 'stood the test of time' has done so, Because of their ability to attract, retain and get the best out of their talent. Today we read of a 'war for talent’. This has emerged, not because companies have forgotten about talent, or allowed it drop off of the radar but, because in some fundamental ways, the talent has changed. We have a new kind of young person entering the business world, with a very different world view, set of values, priorities and goals.
  • 15. 15 Focus 1: Attracting and recruiting Talent: In order to effectively attract and recruit talented employees you need to understand what talent is looking for in a career and how they will view your business in terms of fitting in with their needs. Your approach to each one of your potential recruits needs to be altered to suit that they are. By examining this through the perspectives of the different generations, we are able to look at their attitudes to work what kind of career, organization and benefits they are looking for and know what kind of techniques will ensure that your recruitment process is successful in each generational context. This focus unit looks at the following: o attitudes to work o career goals o views on organizations and how they are currently run o what benefits each generation is looking for o Techniques to attract the different generations: what will make your organization stand out? o Techniques to recruit the different generations: how should the job offer be presented? Focus 2: Retaining and developing Talent In order to effectively retain and develop Talent you need to understand what the generations are looking in a future career and in an organization. Your approach to each one of your employees needs to be altered to fit individual goals and personal needs. This focus unit looks at the following: o work ethics and values o career planning o work environments and culture o benefits and reward systems o ways of motivating Focus 3: Managing Talent
  • 16. 16 An in depth look at how the generations internalize authority will enable you to adjust your management style to fit in with who they are. We are able to look at the attitudes of the different generations to leadership and management; what kind of management approaches will ensure that you gain maximum loyalty, productivity and job satisfaction from each of your employees. This focus unit looks at the following: o attitudes to authority o management styles for the different generations including conflict management o leadership styles used by the different generations o specific techniques to help you manage different generations including communication and feedback preferences o coaching and mentoring preferences including  The role of coach  The coaching process How to plan for and create conversations Research Methodology Research Methodology is a way to systematically solve the research problems. It may be understand as a science of studying how research is done scientifically. In it we are studying his research problems along with the logic behind them. It is necessary the researcher to know not only the research method techniques but also the methodology. Types of Research:- It is descriptive type of research. Descriptive Research survey and fact finding inquiries of different kind. The major purpose of descriptive research is descriptive the state of affairs, as it exist at present. The main control over the variable; he can only report what has to discover the even when there he cannot the variable. The methods has to researcher utilized in descriptive research are survey methods of all kind. Data Source:-
  • 17. 17 The source of project depends on accurate data. That’s why data collecting the appropriate data, which differ considerable in context money, cost, time and other resources at the disposal researcher. There are two types of data collection methods available:- 1) Primary Data Collection Method. 2) Secondary Data Collection Method. 2.3 Primary And Secondary data 1) Primary Data Collection Method. Primary data are those that are obtain by the user for fulfillment their purpose. I have taken Primary Data through personal visit of HR head, and HR executive, of Company Ltd. At all levels and observation methods to get more reliable information. I also collected primary data by filled, ‘Yes’ or ‘No’ format questionnaire by the employee of Company, This data helped me to justify the statements that have made in this project. 2) Secondary Data Collection Method.
  • 18. 18 The Secondary Data is that which is already collected and stored or we can say already saved or ready data by others. I got secondary data from their journals, records, specimen of appraisal form etc. And from newspapers magazines, articles, internet etc I got basic information of Talent Management. I collect secondary data by referring some specimen of company and by referring some books and web sites of company from internet. 2.4 Statement of Hypothesis Hypotheses are the essential assumptions which the researcher formulates about the possible causes, findings and ultimate output of the issue in under research. Under hypotheses mere assumptions or suppositions are made which are to be proved or disproved. For researcher it is a formal question that he intends to resolve. A hypotheses consist either of a suggested explanation for a phenomenon or of a reasoned proposal suggesting a possible correlation between multiple phenomenon. The assumptions be true or false are to be proved through the completion of project.
  • 19. 19 The hypotheses for this project are as follows: Null Hypothesis:  Employee taking benefits from Talent Management System  Employee can retain successfully for the benefit of organization  Employee’s performance increased by talent management  Employee turnover of organization affected by Talent Management Procedure Alternate Hypothesis:  Employee are not able to take benefits from Talent Management System  Employee can not retain successfully for the benefit of organization  Employee’s performance can not increased by talent management.  Talent Management is not affecting on employee turnover of organization Chapter 3: Profile of the Organization.
  • 20. 20 3.1 History of Company
  • 21. 21 Founder of Company-Werner von Company Born- 13 Dec. 1816 to 6 December 1892 Company was founded by Werner von Company on 12 October, 1847. Based on the telegraph, his invention used a needle to point to the sequence of letters, instead of using Morse code. The company – then called Telegraphen-Bauanstalt von Company & Halske – opened its first workshop on October 12. In 1848, the company built the first long-distance telegraph line in Europe; 500 km from Berlin to Frankfurt am Main. In 1850 the founder's younger brother, Sir William Company (born Carl Wilhelm Company), started to represent the company in London. In the 1850s, the company was involved in building long distance telegraph networks in Russia. In 1855, a company branch headed by another brother, Carl von Company, opened in St Petersburg, Russia. In 1867, Company completed the monumental Indo-European (Calcutta to London) telegraph line. In 1881, a Company AC Alternator driven by a watermill was used to power the world's first electric street lighting in the town of Godalming, United Kingdom. The company continued to grow and diversified into electric trains and light bulbs. As Werner had envisioned, the company he started grew from strength to strength in every field of electrical engineering. From constructing the world's first electric railway to laying the first telegraph line linking Britain and India, Company was responsible for building much of the modern world's infrastructure. Company is today a technology giant in more than 190 countries, employing some 440,000 people worldwide. Our work in the fields of energy, industry, communications, information, transportation, healthcare, components and lighting has become essential parts of everyday life. While Werner was a tireless inventor during his days, Company today remains a relentless innovator. With innovations averaging 18 a day, it seems like the revolution Werner started is still going strong. In 1890, the founder retired and left the company to his brother Carl and sons Arnold and Wilhelm. Company & Halske (S&H) was incorporated in 1897. In 1907 Company had 34,324 employees and was the seventh-largest company in the German empire by number of employees. In 1919, S&H and two other companies jointly formed the Osram lightbulb company. A Japanese subsidiary was established in 1923. During the 1920s and 1930s, S&H started to manufacture radios, television sets, and electron microscopes.
  • 22. 22 3.3 COMPANY AG - A Strong Global Presence Company is a world-class supplier of electrical and electronics products and system serving one of the longest and most diversified markets worldwide. Company Ltd. in India is a subsidiary of Company AG, Germany. Company AG have been closely involved with developments that are at the leading edge of electrical and electronics engineering ever since the pioneering inventions of the founder of the company – Werner Von Company. Company strength, acquired over many decades of pioneering research and practical experience, lies in the development of advance technologies and in their timely application to a wide range of high Quality, Innovative and cost effective products. As a global company, Company have manufacturing, sales and services facilities in more than 170 countries. Employees worldwide in the offices, factories,
  • 23. 23 laboratories and service organizations total to about 3, 90,600. All committed to providing the highest standards of technological competence that Company has been a synonym for, right since inception. In today’s fiercely competitive business environment, corporate strength can be achieved and maintained only with a strong base of highly qualified and motivated employees. Qualified professional training however provides merely the basis for a successful career. Changes in technology and the business environment occur so rapidly that know-how and skills must be constantly updated, enhanced or completely supplanted. Each year more than 150000 employee at Company AG participate in over 20000 seminars and courses designated to none professional and personal skills. While 10800 trainees are undergoing training in manufacturing, technical and commercial trades. 3.4 Company in India Company association with India began in 1867 when Werner–Von- Company personally supervised the laying of the first sub marine telegraph line between Calcutta and London. This historical event marked with the beginning of a long and fruitful association. Company and India have grown together. In making the country’s priorities its own, Company has put its experience and expertise in areas of national importance. Company have played an active role in the technological progress experienced in the last four decades. Company grew out of a response to the needs of the nation. Today Company involvement reflects the current trends in electronic and electrical technology in switchgear, motors, drivers, automation systems, power generation and distribution, projects, transport, medical engineering, communications and components.
  • 24. 24 Company have about 8000 employees in India and an extensive network which includes 10 works, 3 training Centers (Units), 7 sales offices, 23 representative, 300 dealers, System houses and Service Centers, all geared to meet the requirement of customer. Being closely associated with our principals Company AG, Germany gives Company in India access to the world’s latest developments in every field. This Combined with its experience in India makes Company the ideal partner for catalyzing the country’s progress. 3.2 Company Product Founded in 1847 at Berlin, Prussia Founder(s) Werner von Company Headquarters at Berlin and Munich. Products and Services Communication Systems Power Generation
  • 25. 25 Automation Lighting
  • 26. 26 Medical technology Transportation and Automotive
  • 27. 27 Trains and Trams Water Technologies Building Technologies Home Appliances Fire Alarms IT Services
  • 28. 28 Financing Construction Chapter 4: Introduction of Talent Management.
  • 29. 29 Chapter 4: Introduction 4.1 Meaning Definition With businesses going global and competition becoming intense, there is mounting pressure on organizations to deliver more and better than before. Organizations therefore need to be able to develop and deploy people who can articulate the passion and vision of the organization and make teams with the energy to perform at much higher levels. These people build and drive the knowledge assets of a corporation, the value of which has been established to be many times more than the tangibles. The capacity of an organization to hire, develop and retain talent is therefore the most crucial business process and priority on the CEO’s agenda. The 1990’s ended with a call-to-arms to fight “the war for talent”. While the war for talent clearly has cooled in the early stages of the 21st century, dampened by economic doldrums & concerns with global security; the rear battle to attract, motivate, development & retain talent is going to heat up considerably. A looming demographic time-bomb will make Talent Management a priority for organizations. A host of issues like: loss of human capital, talent shortages, ageism, and cultural clash has made acquiring & managing talent difficult. Talent Management describes the process through which employers of all kinds – Firms, Govt., and Non-profit organizations – anticipate their human capital needs & set about meeting them. Thus Talent Management refers to: getting the RIGHT PEOPLE with the RIGHT SKILLS into the RIGHT JOBS.
  • 30. 30 It is a professional term, also known as “Human Capital Management” that refers to the process of developing & fostering new workers through on boarding, developing & keeping current workers & attracting highly skilled workers to work for your company. Companies that are engaged in Talent Management are strategic & deliberate in how they recruit, manage asses, develop & maintain an organization’s most important resource – its PEOPLE. This term also incorporates how companies drive performance at the individual level. Decisions about Talent Management shape the competencies that organizations have & their ultimate success; & from the perspectives of individuals, these decisions determine the path & pace of careers. We may thus understand that this term is usually associated with competency based HRM practices. Talent Management decisions are often driven by a set of organizational core competencies as well as position – specific competencies. The competency set may include knowledge, skills, experience & personal traits. 4.2 Human capital management Companies that engage in talent management (Human Capital Management) are strategic and deliberate in how they source, attract, select, train, develop, retain, promote, and move employees through the organization. Research done on the value of such systems implemented within companies consistently uncovers benefits in these critical economic areas: revenue, customer satisfaction, quality, productivity, cost, cycle time, and market capitalization. The mindset of this more personal human resources approach seeks not only to hire the most qualified and valuable employees but also to put a strong emphasis on retention. Since the initial hiring process is so expensive to a company, it is important to place the individual in a position where his skills are being extensively utilized. The term talent management means different things to different organizations. To some it is about the management of high-worth individuals or "the talented" whilst to others it is about how talent is managed generally - i.e. on the assumption that all people have talent which should be identified and liberated. From a talent management standpoint, employee evaluations concern two major areas of measurement: performance and potential. Current employee performance within a specific job has always been a standard evaluation measurement tool of the profitability of an employee. However, talent management also seeks to focus on an employee’s potential, meaning an employee’s future performance, if given the proper development of skills. The major aspects of talent management practiced within an organization must consistently include.
  • 31. 31 • performance management • leadership development • workforce planning/identifying talent gaps • recruiting This term of talent management is usually associated with competency-based human resource management practices. Talent management decisions are often driven by a set of organizational core competencies as well as position-specific competencies. The competency set may include knowledge, skills, experience, and personal traits (demonstrated through defined behaviors). Older competency models might also contain attributes that rarely predict success (e.g. education, tenure, and diversity factors that are illegal to consider in relation to job performance in many countries, and unethical within organizations). Chapter 5: Talent Management
  • 32. 32 Chapter 5: Talent Management 5.1 Meaning and definition Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities. Talent Management is beneficial to both the organization and the employees. The organization benefits from: Increased productivity and capability; a better linkage between individuals' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people's jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction. In these days of highly competitive world, where change is the only constant factor, it is important for an organization to develop the most important resource of all - the Human Resource. In this globalize world, it is only the Human Resource that can provide an organization the competitive edge because under the new trade agreements, technology can be easily transferred from one country to another and there is no dearth for sources of cheap finance. But it is the talented workforce that is very hard to find. The biggest problem is how to retain the present workforce and stop them from quitting
  • 33. 33 Importance First, let us look at some of the reasons for the importance of talent management. • Globalization: Now for any jobseeker the whole world is the potential place to find employment. One can know the opportunities available in any part of the world easily and the number of talent seekers has also increased. • Increased Competition: Increased competition in the market place has necessitated the need for consistently good performance on the side of organizations. These have made the companies to put in all efforts to hire and retain the best talent in the respective field of operation. • Increasing Knowledge: The knowledge era has necessitated the retaining of those talents which have the ability to assimilate new technologies and knowledge, which are growing at a pace never seen before.
  • 34. 34 How Talent Management important for an Organization: 1) Cost cutting: One experienced & skilled employee can replace instead of two or more employees. Organization can save hundreds of thousands of dollars. 2) Maximum Output Organization can make maximum out put in minimum resources. 3) Time Saving technique It is a time saving technique. Because for every job a skilled person can place. It’s helpful to complete job in minimum time 4) Perfection increase Due to skilled employee Perfection in work is increase. There is low probability of mistakes. How Talent Management important for an Employee: • Recruitment It’s ensuring that right people are attracted to the organization, due to providing exposure for there skills. • Retention Developing and implementing practices that reward and support employees. • Employee development Ensuring continuous informal and formal learning and development. • Leadership and "high potential employee" development Specific development programs for existing and future leaders. • Performance management Specific processes that nurture and support performance, including feedback/measurement.
  • 35. 35 • Workforce planning Planning for business and general changes, including the older workforce and current/future skills shortages. Culture Development of a positive, progressive and high performance "way of operating". 5.2 The Challenge The challenge of talent management has two faces. First is how to find new people and second is how to retain the present workforce. Each of the challenges has to be tackled in the most efficient way possible so that the organization can achieve its objectives. The First Challenge - Where to find new talent? All the organizations are finding loads of business opportunities and consequently, their revenues are growing at a rapid pace. The increasing business opportunities has necessitated that these organizations go in for massive recruitment. But, the question is where to find the best talent which is able to fit the job description and also adjust to the organization’s values and norms. If we scan the environment, we find there is a shortage of skilled workforce that can be employed. Some of the possible reasons that have led to the shortage are: - Demographic Constraints: This is a common problem faced by many of the developed countries, where a large chunk of its population is nearing the age of retirement or is over 50 years. USA, Germany and Japan are facing the same problem. All these countries will see a decline in their workforce and talent. In the coming years, they will see a great shortage in their skilled professionals. Existing Educational System: The graduates and the postgraduates that are being churned out of the universities are found to be ill-equipped to handle the challenges of the workplace.
  • 36. 36 They are mostly equipped with only the theoretical aspects of the issues and lack the application part. The educational system is faulty and does not take industry needs into consideration, resulting in a mismatch between industry requirements and educational preparation. Cost Factor: Recruiting new employees is becoming tougher and tougher in the developing countries, where the HR department has to sort out thousands of applications for a handful of jobs. Finding right person for the right job becomes a very difficult process. It also involves very high cost to conduct the recruitment and selection process for such a large population of applicants. Attracting the Best Talent: This is another challenge. As was the case in the past, the best available talent is not just motivated by the name and fame of the organization. Not any more. They have a new set of motivators like - challenging work, conducive work environment and freedom from bureaucratic structure. The Second Challenge - How to retain the existing employees? Gone are the days when a person would join an organization in his mid-20s and would work till his retirement in the late-50s. Today the young professionals hop jobs, especially during the first 4-5 years of their work life. Though the Indian service industry is basking in the light of outsourced jobs from the developed countries, they also cannot ignore the fact that the BPO industry is also facing one of the highest attrition rates, in fact never heard before in India, of around 35%. It is a fact that it’s the people that add value to organizations. It is also a fact that humans are a restless species who, unlike the immovable Banyan Tree, cannot stay rooted in one place. People need to move on for one reason or another, and the organization stands to lose. Let us look at some of the reasons behind the massive attrition rates: - 1. Gap between organizational values and goals and the personal values and goals is one of the major reasons of the attrition rates. If they go parallel, there is no way both would be satisfied and inevitably, the organization would lose out on a talented employee. 2. Working environment is another major factor. Employees in the knowledge era demand creative and a democratic work environment. Failure on the part
  • 37. 37 of the management to provide such an environment will result in a talented employee leaving the organization. 3. The competitive world has made sure that there is high work pressure on the employees of any organization. This has led to psychological problems like stress, and in extreme situations, total burnouts. It also leads to other health related problems. 4. Movement for higher salary is also common among the younger professionals. There is no shortage for organizations who are looking for talented employees and who are ready to shell out a hefty salary for a talented person. Other lures like better job opportunities, higher posts and overseas assignments are also major factors in the attrition rates. 5. Not taking proper care during the recruitment and selection process and not taking proper care to fit the right person to the right job also breeds dissatisfaction among the employees. 6. Bad or opaque policies from management on issues of succession planning and promotion, appointments for senior positions also is a major factor which makes the organization lose out on the talented employees. 7. The professionals have different aspirations at different times of their career. During the initial years, they have good salary and foreign assignments. Next on the list is working on cutting edge technology. More seasoned professionals look for learning opportunities. So employees tend to move to those organizations which provide them with means to fulfill their aspirations. Retaining the present employees is of the foremost importance to the organizations because; the company would have already incurred heavy costs in the form of training and development. Now if the organization has to look for a replacement for the employee who has left, it involves a lot of costs like - hiring costs, training costs and the induction costs. Also it takes some time for the new employee to adjust to the new work environment. During this time the productivity of the employee will be low. The HR department will have to fit the new employee into a proper role in the organization. Apart from causing the company a monetary loss and breaks in their day-to-day operations, attrition contributes to knowledge transfer, which is a great loss and adversely affects business.
  • 38. 38 5.3 How to Manage the TALENT? It is now proved beyond doubt that, in the era of technology and knowledge, talent is in the driving seat. One who possesses it dictates. Not he who pays for it. It is the demand of the time that business leaders elevate management of talent to a burning corporate priority. It is not a walk in the park for the talent market. Quality people are no longer available in plenty, easily replaceable and relatively inexpensive. These are some of the measures that should be taken into account to hire and retain talent in the organization, to be efficient and competitive in this highly competitive world: - Hire the Right People: Proper care must be taken while hiring the people itself. It would be beneficial for an organization to recruit young people and nurture them, than to substitute by hiring from other organizations. Questions to be asked at this stage are: Whether the person has the requisite skills needed for the job? Whether the person's values and goals match with those of organizations? In short, care must be taken to fit the right person to the right job. Keep the Promises: Good talent cannot be motivated by fake platitudes, half-truths and broken promises. Unfulfilled expectations can breed dissatisfaction among the employees and make them either leave the organization or work below their productive level. Promises made during the hiring stage must be kept to build loyalty among the employees, so that they are satisfied and work to their fullest capability. Good Working Environment: It has to be accepted by the organizations that highly talented persons make their own rules. They have to be provided with a democratic and a stimulating work environment. The organizational rules must be flexible enough to provide them with freedom to carry out their part of task to their liking, as long as the task is achieved.
  • 39. 39 Opportunities should also be provided to the employees to achieve their personal goals. Recognition of Merit: It is highly motivating for any person if his talent is recognized and is suitably rewarded. One way is providing them with salary commensurate with their performance. Promotions and incentives based on performance are another way of doing it. Another way is by providing them with challenging projects. This will achieve two objectives - it makes employee feel that he is considered important (a highly motivating factor) and gets the work done in an efficient manner and brings out the best in the employee. Providing Learning Opportunities: Employees must be provided with continuous learning opportunities on and off work field through management development programs and distance learning programs. This will also benefit the organization in the form of highly talented workforce. Shielding from High Work Pressure: If an organization has to make the most of the available talent, they should be provided with adequate time to relax, so that they can did-stress themselves. It is very important to provide them with holidays and all-expenses-paid trips, so that they can come back refreshed to work and with increased energy. They must also be encouraged to pursue their interests which are also a good way of reducing work environment stress. Recreation clubs, entertain programs, fun activities with in the work area will also reduce the work life stress of the employees and develop camaraderie among the workers and result in a good working environment. Talent + Vision/Mission/Strategy + Skills & Competencies + TALENT & PERFORMANCE Role & structure + Opportunity Organizations provide individuals the opportunity and space for physically + manifesting their talent into performance for achieving individual and organizational Encouragement & Recognition vision. Talent manifests into performance as follows: + Training & Development + Coaching + Action Plan & Goals + Resources Performance Management System Performance
  • 40. 40 Thus the domain of talent management focuses not only on development of individual’s intrinsic capacities, but also on culture building and change management to provide the other elements listed above for manifestation of talent into performance. The New HR Mission and Talent Management Processes Many challenging workforce issues confront HR, including: • Heightened competition for skilled workers. • Impending retirement of the baby boomers. • Low levels of employee engagement. • Acknowledgement of the high cost of turnover. • Arduous demands of managing global workforces. • Importance of succession planning. • Off shoring and outsourcing trends. This requires new thinking and a new mission to achieve business success. These factors—coupled with the need to align people directly with corporate goals—are forcing HR to evolve from policy creation, cost reduction, process efficiency, and risk management to driving a new talent mindset in the organization.
  • 41. 41 One important distinction is the evolution of the difference between tactical HR and strategic talent management. Transactional HR activities are administrative overhead. Talent management is a continuous process that delivers the optimal workforce for your business. In this new model—instead of being the owners of processes, forms, and compliance—HR becomes the strategic enabler of talent management processes that empower managers and employees while creating business value. With this view, talent management may be defined as the implementation of integrated strategies or systems designed to improve processes for recruiting, developing and retaining people with the required skills and aptitude to meet current and future organizational needs. Anecdotally, talent management is often defined as performance management, incentive compensation, or talent acquisition. Talent management is also often confused with leadership development. Although leadership development is a crucial function of your organization, focusing on it exclusively is a legacy of last century. Our modern service and knowledge economies in the talent age require a broad and holistic view. A high performance business depends on a wide range of talent. Taleo’s graphical representation emphasizes the mandate of talent management to respond to business goals and consequently be the driver of business performance. Talent management is depicted as a circular—not a linear—set of activities. 5.4 Why Talent Management? Workforce cost is the largest category of spend for most organizations. Automation and analysis of your recruiting and hiring processes provides the immediate workforce visibility and insights you need to significantly improve your bottom line. Performance management provides the ongoing processes and practices to maintain a stellar workforce. Today, many organizations are struggling with silos of HR processes and technologies. The future of talent management is embodied in solutions designed from the ground up to provide business-centric functionality on a unified talent management platform. Since nearly all competitive business factors have become commoditized, talent is what ultimately drives business success and creates value. Leading organizations
  • 42. 42 rely on Taleo solutions and services to assess, acquire, develop, and align talent with business objectives while significantly reducing process costs, improving quality of hire, reducing risk, and achieving higher levels of performance. Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of successful talent management practices: • The key enabler of any organization is talent. • The quality of your people is your last true competitive differentiator. • Talent drives performance. Talent management requires strong executive support, along with systems and processes all directed towards having the right talent doing the right work at the right time. That’s when talent truly drives higher business performance. Indirect implementation of Talent Management in Company Ltd., Nasik Works. By following Steps: Performance appraisal Career Planning Succession Planning
  • 43. 43 Training and Development Chapter 6: Performance Appraisal
  • 44. 44 Chapter: 6 Performance appraisals 6.1 What is Performance Appraisal? Meaning: - Performance appraisal is a method of evaluating the behavior of employees in the work spot, normally including both the quantitative and qualitative aspects of job performance. Performance here refers to the degree of accomplishment of the tasks that make up an individual‘s job. It indicates how well an individual is fulfilling the job demands. Often the term is confused with effort, but performance is always measured in terms of results and not efforts. Need of Performance Appraisal: -Performance appraisal is needed in order to: (1) Provides information about the performance ranks, basing on which decision regarding salary fixation, confirmation, promotion, transfer and demotion are taken. (2) Provide feedback information about the level of achievement and behavior of subordinate. This information helps to review the performance of the subordinate, rectifying performance deficiencies and to set new standards of work, if necessary. (3) Provide information, which helps to counsel the subordinate. (4) Provide information to diagnose deficiency in employee regarding skill, knowledge, determine training and developmental needs and to prescribe the means for employee growth provides information for correcting placement. (5) To prevent grievances and in disciplinary activities.
  • 45. 45 Purpose Performance appraisal aims at attaining the different purpose. They are: (1) To create and maintain a satisfactory level of performance. (2) To contribute to the employee growth and development through training self and management development programs. (3) To help the superiors to have a proper understanding about their subordinates. (4) To guide the job changes with the help to continuous ranking. (5) To facilitate fair and equitable compensation based on performance. (6) To facilitate for testing and validating selection tests, interview techniques through comparing their scores with performance appraisal ranks. (7) To provide information for making decisions regarding lat off, retrenchment etc. (8) To ensure organizational effective through correcting employee for standard and improved performance, and suggesting the change in employee behavior. 6.2 Methods of Performance Appraisal: The methods of performance Appraisal are basically classified as Traditional Methods, Modern Methods and result – Oriented Appraisal: - a) The Traditional Methods consists of ‘Graphic Rating Scales’,’ Ranking Method’,’ Paired comparison Method’, ‘Forced Distribution Method’, ‘Checklist method’, ‘Essay or free from APPRAISAL’, ‘Group Appraisal and ‘confidential Report’. b) Modern Methods of evaluating performance appraisal are ‘Behaviorally Anchored Rating Scales’, Assessment Center’, Human Resource Accounting’, Management by objectives’, Psychology Appraisal’.
  • 46. 46 Uses of Performance Appraisals:-  Performance Improvement: Performance feedback allows the employee, manager, and personnel specialists to intervene with appropriate actions to improve performance.  Compensation Adjustments; Performance evaluations help decision- makers determine who should receive pay raises. Many firms grant part or all of their pay increases and bonuses based upon merit, which is determined mostly through performance appraisals.  Placement Decisions: Promotions, transfers, and demotions are usually based on past or anticipated performance. Often promotions are a reward for past performance.  Training and Development; Poor performance may indicate the need for retraining. Likewise, good performance may indicate untapped potential that should be developed.  Career Planning and Development: Performance feedback guides career decisions about specific career paths one should investigate.  Staffing Process Deficiencies: Good and Bad performance implies strength or weakness in the personnel department‘s staffing procedures.  Informational Inaccuracies: Poor performance may indicate errors in job analysis information, human resource plans, or other parts of the personnel management information system. Reliance on inaccurate information may have led to inappropriate hiring, training, or counseling decisions.  Job Design Errors: Poor performance may be a symptom of ill-conceived job designs. Appraisals help diagnose these errors.  Equal Employment Opportunity: Accurate performance appraisals that actually measure job – related performance ensure that internal placement decisions are not discriminatory.  External Challenges: Sometimes performance is influenced by factor outside the work environment, such as family, financial, health, or other personal matters. If uncovered through appraisals, the human resource department may be to provide assistance.  Feedback to Human Resources: Good/bad Performance throughout the organization indicates how well the human resource function is performing.
  • 47. 47 METHODS OF PERFORMANCE APPRAISAL Traditional and modern Methods of Performance Appraisal Traditional methods Modern Methods 1) Graphic rating scales 1) Behaviorally anchored rating scales 2) Ranking Method 2) Assessment centers 3) Paired comparison method 3) Human Asset accounting method 4) Forced distribution method 4) Management by Objectives method 5) Checklist methods 5) 360° Performance appraisal method a) Simple Checklist b) Weighted checklist c) Critical incident method 6) Essay from appraisal 7) Group appraisal 8) Confidential reports.
  • 48. 48 6.3 How implement performance appraisal. Introduction Now a day’s Performance appraise is very important from company point of view. It is use to take various managerial decision. E.g. decision regarding employee’s increment or decision regarding employee’s future career planning etc. In Company they use “Grading and Ranking “method to appraise performance of there employee. Who Appraise Performance appraise by Head of the department or from the superior. They did not conduct performance appraisal on officer’s level it conduct only on officer’s basis. In Company Performance is appraising by head of the department, Supervisor, manager, etc. Process: Head of the department submit one copy of performance appraisal to HR Department and discuss with the employee whose performance is down. One copy of performance appraisal report is attached to that employees personnel file as a record. If that employees performance is going down then head of the department can talk with that employee regarding increase performance. Even Hr Manager also should talk with that employee to know his problem and HR Manager should motivate that employee to increase performance. Employees increment is depend upon there performance. Head of the department or HR manager may stop increment of employee regarding low performance. General use of performance report in Any Company:
  • 49. 49 Need of training. Head of the department or HR manager can decide whether employee needs training for good performance or not. Career Planning. Career planning generally use to retain skilled employee. They can find out skilled employee for skilled employees career planning from performance appraisal report. Succession planning: From performance appraisal Report Company can select candidate to make succession planning. Benefits of employee to company Company’s employee are company’s asset, it is helpful to calculate that company’s employee how much give returns to company. Or which employee is beneficial for company and which is not beneficial.
  • 51. 51 Chapter: 7 Career Planning 7.1 Introduction and meaning Introduction The career is all the jobs that are held during ones working life. According to ‘E.B. Flippo’, career is a sequence of separate but related work activity’s that provides continuity, order and meaning in a person’s life. Definition: 1) Edwin Flippo define a career as a sequence of separate but related work activities that provides continuity, order and meaning in a persons life. 2) Wreather and Davis defined various terms of career planning as given below: A career path is the sequential pattern of jobs that form a career (as per figure). Career Planning is the process by which one selects career goals and the path to these goals. Career development is these personal improvements one undertakes to achieve a personal career plan. 3) Career management is the process of designing and implementing goals, plan and strategies to enable the organization to satisfy employee needs while allowing individuals to achieve their career goals. Life and career Stages Human resource managers must understand the issues that individuals face throughout their careers. A study of career development theories, life development theories and interrelationship among career stages and life stages will provide and
  • 52. 52 understanding of the issues that the individual face. Career and life stages are closely related as both are linked to age and cultural norms. Need for career planning Career planning is necessary due to following reasons 1) Attract competent person To retain the competent person or to attract them company need career planning, because this kind of person are company’s asset. Competitors can try to hire this person so, company always try to retain these person. 2) Provide suitable promotional opportunities To give exposure for employee’s knowledge and talent, Career planning is important. 3) Training for future challenges Enable employee to develop and make them ready to meet the future challenges. 4) reduce job dissatisfaction It helps to increase job satisfaction for employee. When employee get exposure to show skill and when he learn more from job profile at that time job satisfaction automatically increase. 5) Improve motivation and morale Career Planning is useful to improve motivation and morale of employees. 7.2 Process of Career Planning. a) Analysis of individual skills, knowledge, abilities, aptitudes etc.
  • 53. 53 b) Analysis of career opportunities both within and outside of organization. c) Analysis of career demand on the incumbent of skills, knowledge, abilities, aptitude, etc., and in terms of qualifications, experience and training received etc. d) Relating specific ob to different career opportunities. e) Establishment of realistic goals both short term and long term. f) Formulating career strategy covering areas of change and adjustment. g) Preparing and implementing action plan including acquiring resources for achieving goals. Varies stages of career planning and development are shown in figure. Successful Matching Mismatching
  • 54. 54 Advantage of Career planning and development For individuals 1) It helps to the individuals to have the knowledge of various career opportunities, his priority’s etc. 2) It helps to select career which is suitable for his life styles, preferences, family environment, scope for self-development etc. 3) It helps the organization identify internal employees who can be promoted. 4) Internal promotions, up-gradations and transfers motivate the employees; boost up their morale and also satisfaction. 5) Increase job satisfactions enhance employee commitment and create a sense of belongingness and loyalty to the organization. 6) Employee will await his turn of promotion rather than changing to another organization. 7) It helps to improve employee performance on the job by taping their potential abilities and further employee growth. 8) It satisfied employee esteem needs. For organization 1) The efficient policies and practices improve the organization’s ability to attract and retain highly skilled and talent employees. 2) A proper Career Planning ensures that the woman and people who belongs to the backward communities get opportunities for growth and development 3) It continuously tries to satisfy the employee expectations and such as minimizes employee frustrations. 4) By attracting and retaining the people from different cultures, enhances cultural diversity. 5) Protecting employee’s interest result s in promoting organizational good will.
  • 55. 55 7.3 Implementation of Career Planning Career Planning is generally done by every organization. But method of career planning can differ. career planning for company’s employee, as follows: Activity for Career Planning: Training and development: Most of the time company can try to retain the skilled employee, therefore company provide various type of knowledge or training, for company benefits as well as employee. Transfer department to department or unit to unit If any employee would like to work in specific department or unit for his skilled work and if it will beneficial for company then it’s also part of career planning. Promotion In career planning, promotion is also a one part. To retain the skilled employee. Company makes promotion of this kind of employee. ☻Career planning at Officer’s levels:
  • 56. 56 For career planning company refer report of Performance appraisal, from that report they sort out an employee whose performance is above expectations. For this kind of employee they conduct career planning to retain that particular employee. • Analyze skill of worker: They analyze skill of worker by performance appraisal’s report, and then they decide career planning of employee. • Transfer of worker: They search about interest of employees in his work profile. And then they decide whether transfer of worker is suitable or not. Or change in work profile is suitable or not. Promotion: They decide about employee’s promotion if required and his training They analyses whether training is required for employee or not. As per the need of organization HR head make his career planning for promotion. Use of performance appraisal report: By Performance appraisal report, company can decide whether that employee should promote or not, They can study about employee’s job satisfaction, his job skills, his talent etc. Job enrichment Most of the time company checks job enrichment of employee, to check capacity of work within a given time as well as their skills also. Job enrichment is helpful to increase skills in employee. 7.4 Succession Planning Introduction Success, growth and survival are the most important responsibilities of the top management of the organization. Succession planning is the activity connected with the succession of incumbents to fill the key positions in the organizations hierarchy as and when a vacancy arises. Succession planning focus on identification of vacancies and locating the probable successor. It provides the succession chart in respect of a particular position.
  • 57. 57 The succession planning ensures the availability of the right kind of the management staff at the right time and in the right position in order to provide for continued organizational vitality and strength. What is Succession Planning? Succession planning is the systematic identification and professional development of internal talent. Its goal is to cultivate internal human capital in preparation for assuming leadership roles and other key positions that may become vacant due to retirement, expected or unexpected separations. For Succession planning for management staffing plans are required to be developed properly on an individual basis for all anticipated needs in the immediate year a head and also for key positions. The business plans must be reviewed to determine there effects on managerial needs. Succession planning is one of the important functions of the top management. In fact the direct responsibilities of the chief executive and the top management group. For Example: Suppose, Mr. A will retire within some days, from the post of “Production Manager” Then HR manager should place right person who will able to carry liability of that post. For selection of right person as well as to give idea about job to candidate, mostly HR Manager prepare planning, like: HR Manager will place candidate under supervision of Mr. A to learn difficult things of job, or he will give training to that candidate or he will search a candidate who already have idea about job profile of “Production Manager”, i.e. “Succession planning.” In short when any employee or candidates leave job, HR manager should prepare plan to place correct candidate on that post. What is need for succession planning: - To make succession planning following points are important. 1) Job Information 2) Job analysis 3) Job profile 4) Qualification and Experience define. Etc. 5) Availability of candidate 6) Analysis of Selection process Benefits of Succession planning: 1) Facilitates communication & knowledge management 2) Uninterrupted work productivity 3) Leadership continuity 1) Custom designed training programs
  • 58. 58 2) Candidate can understand job easily. 3) Challenges of Effective Succession Planning Successful succession planning, as we've seen, is an ongoing and complex endeavor that is necessarily broad in scope. It therefore presents significant barriers to both implementation and long-term maintenance. Here are some of the more challenging obstacles: • MULTIPLE OWNERS: Traditionally, HR has been considered owner of the succession planning process, but meaningful success really requires a genuine sense of ownership and commitment at many levels of the organization. While HR may be best positioned to oversee the process, it can never fully know or evaluate every process participant the way managers and supervisors can. • NUMBER OF POSITIONS: All but the smallest of organizations have a substantial number of positions critical to long-term performance, whether these involve leadership skills or technical expertise that would be difficult to quickly replace. Comprehensive succession planning must incorporate all such positions; yet, as the number of positions grows so too does the administrative burden. • STRATEGIC ALIGNMENT: Succession plans need to reflect long-term organizational goals and strategies. Companies must give thoughtful consideration not only to the plan's design and implementation, but also to sustaining the process over time. As strategies and goals shift, so too must the plan if the organization is to recruit and develop the workforce its future success will require. • ORGANIZATIONAL COMPLEXITY: Conglomerate, geographically dispersed, multi-industry, and other complex organizational forms significantly increase the challenge of succession planning. Often, higher-level positions require well-designed cross training to inculcate the unique knowledge and skills success in the organization requires. • ORGANIZATIONAL CHANGE: As companies evolve in response to marketplace threats and opportunities, the skills, talents, and expertise they will need to thrive evolve, as well.
  • 59. 59 • EFFECTIVENESS & EFFICIENCY: The larger and more complex an organization, the more challenging it is to maintain an effective and efficient succession planning process. Yet, by definition, the best process is the one that enables the firm to identify the best candidate in least amount of time and at the lowest cost. Having this process in place is vital to the success of the organization because the individuals identified in the plan will eventually be responsible for ensuring the company is able to tackle future challenges. These 'high potential' candidates must be carefully selected and then provided training and development that gives them skills and competencies needed for tomorrow's business environment. Another reason its important is because these high potentials will one day become the leaders of the Company. This is why their development needs to incorporate a broad range of learning opportunities in your organization. The individuals should also be exposed to as much of the working environment as possible so that they gain a good understanding of what the company requires to remain successful. 7.5 Implementation of Succession Planning: Succession panning is the planning to place a person on another employee’s place who will retire after one or two year. Succession planning is conduct in every organization. It is a part of Career planning. Officer’s level: At officer’s level Succession planning conduct by following methods. 1) Personal meeting Head of the department take the personnel meeting with the employee who is going to retire because he wants to know that employee’s opinion about to place new right candidate on his place. 2) Employee dialogue: Employee dialogue is a dialogue between employee (who will go to retire) and head of the department, regarding place new candidate at his post, which have ability to fulfill requirements of job. 3) Opinion of subordinate:
  • 60. 60 The head of the department should consider the opinion of other staff or subordinate also. Employee assessment centre Introduction This method was first applied in Germany Army in 1930. Later business and industrial houses started using this method. This is not a technique of a performance appraisal by itself. In fact it is a system or organization, where assessment of several individuals is done by various experts by using various techniques. In these approach, individual from various department are bought together to spend two or three days, working on an individual or group assignment similar to the ones they would be handling when promoted. Observers rank the performance of each and every participant in order of merit. Since assessment centre are basically meant for evaluating the potential of candidates to be consider for promotion, training and development, they offer an excellent means for a conducting evaluation process in an objective way. All assess get an equal opportunity to show their talent and capabilities and secure promotion based on merit. Since the evaluators know the position requirements intimately and are trained to perform the evaluation process in an objective manner, the performance rating may find favor with majority of the employees. A considerable amount of research evidence is available to support the contention that people chosen by this method prove better than those chosen by other methods. The centre enable working in a low status department to compete with people from well-known departments and enlarge there promotional chances. Such opportunities, when created on regular basis, will go a long way in improving the morale of promising candidates working in less important positions. Employee assessment centre: Employee assessment is a committee of a Psychiatrist, advocate, consultant etc. there are 3 to 5 people on the committee. They give a one task to the employee and he should complete that task within a given time e.g. Give a presentation on specific topic within half an hour. Work of the Committee: • Mainly committee observes how employee can survive in specific situation. How he can handle situation. • They try to find out the tendency of employee.
  • 61. 61 • They try to find out method of thinking of employee. In employee assessment they consider only an officers career planning.
  • 62. 62 Chapter 8: Training and Development Chapter 8: Training and Development 8.1 Meaning and Definition Introduction After an employee selected, placed and introduced her or she must be provided with training facilities. Training is the act of increasing the knowledge and skills of an employee for doing a particular job. Training is a short-term educational process and utilizing a systematic and organized procedure by which employees learn technical knowledge and skills for a definite purpose. Dale S. Beach Define training, “The organized procedure by which people learn knowledge and/or skill for a definite purpose.” In other words training improves, changes, moulds the employee’s knowledge, skill, behavior, aptitude, and attitude towards the requirements of the job and organization. Training refers to the teaching and learning activity carried on for the primary purpose of helping members on an organization, to acquire and apply the knowledge, skills, abilities and attitudes needed by a particular job and organization. Thus, training bridges the difference between job requirement and employee’s present specifications.
  • 63. 63 No organisat5ion matches the candidate who exactly matches with the job and the organizational requirements. Hence, Training is important to develop the employee and make him suitable to the job. Job and organizational requirement are not static, they are changed from time to time in view of technological advancement and change in the awareness of the total quality and productivity Management(TQPM). The objective of the TQPM can be achieved only through training as training develops human skills and efficiency. Trained employees would be a valuable asset to an organization. Benefits of training For organization • Lead to prove profitability and/or more positive attitudes towards profit orientation • Improves the job knowledge and skills at all level of the organization • Improves the morale of workforce • Helps people identify with organizational goal • Helps create a better corporate image • Aids in organizational development • Learns from the trainee • Helps to prepare guideline for work • Organization gets more effective decision making and problem solving • It helps to improve labor-management relations. Benefits to the individual which in turn ultimately should benefit the organization • Helps the individual in making better decisions and effective problem solving • Through training and development, motivational variables of achievement, growth, responsibilities and advancement are internalized and operationised • It helps to an individual to handle stress tension or conflicts. • It provides information to improve leadership knowledge. • Develops a séance of growth in learning • Improves morale • Improves impersonal skills 8.2 Need for training Need for training arises due to following reasons: 4) To match the employee specification with the job recruitment and organizational needs: An employee’s specification may not exactly suit to the requirement of the job and the organization irrespective of his past experience, qualifications, skills
  • 64. 64 knowledge, etc. Thus every management finds deviation between employee’s present specifications and the job requirements and organizational needs. Training is needed to fill this gap by developing and molding the employee’s skill, knowledge attitude behavior etc. to the tune of the job requirements and organizational needs. 5) Technological advances: Every organization in order to survive and to be effective should adopt the latest technology, i.e. mechanization, computerization, automation. Adoption of the latest technology means and methods will not be complete until they are manned by employees possessing skill to operate them. So, organization should train the employee to enrich them in the areas of changing technical skills and knowledge from time to time. 6) Human relations: Trends in approach towards personel management have change from the commodity approach to partnership approach, crossing the human relations approach. So, today, management of most of the organization has to maintain human relations besides maintaining sound industrial relations although hitherto the managers are not accustomed to deal with workers accordingly. So, training in human relations is necessary to deal with human problems and to maintain human relations. 7) Change in the job assignment: Training is also necessary when the existing employee is promoted to the higher level in the organization and when there is some new job or occupation due to transfer. Training is also necessary to equip the old employees with the advanced disciplines techniques or technology. The need for training also arises to: • Increase productivity • Improve quality of the product / Services • Help a company to fulfill its future personnel needs. • Improve organizational climate. • Improve health and safety. • Prevent obsolescence • Effect the personnel growth • Minimize the resistance to change. Stages in training as follows Stage 1 Assessment of training needs
  • 65. 65 Stage 2 Design the training program Stage 3 Implementation. Stage 4 Evaluation of training program. 8.3 Methods of Training Methods of training On-job methods Off-job methods Job relations Lectures/Conferences Coaching Films Job instruction Simulation Exercise
  • 66. 66 Training through Cases Step by step Programmed instructions Committee assignments Audio visual methods Internship training Computer based training E-Learning. The most widely used methods of training used by organizations are classified into two categories: On-the-Job Training & Off-the-Job Training. ON-THE-JOB TRAINING It’s given at the work place by superior in relatively short period of time. This type of training is cheaper & less time-consuming. This training can be imparted by basically four methods: - Coaching It is learning by doing. In this, the superior guides his sub-ordinates & gives him/her job instructions. The superior points out the mistakes & gives suggestions for improvement. Job Rotation: - In this method, the trainees move from one job to another, so that he/she should be able to perform all types of jobs. E.g. In banking industry, employees are trained for both back-end & front-end jobs. In case of emergency, (absenteeism or resignation), any employee would be able to perform any type of job. OFF THE JOB TRAINING: - It is given outside the actual work place. Lectures/Conferences:- This approach is well adapted to convey specific information, rules, procedures or methods. This method is useful, where the information is to be shared among a large number of trainees. The cost per trainee is low in this method. Films: - It can provide information & explicitly demonstrate skills that are not easily presented by other techniques. Motion pictures are often used in conjunction with Conference, discussions to clarify & amplify those points that the film emphasized. Simulation Exercise: - Any training activity that explicitly places the trainee in an artificial environment that closely mirrors actual working conditions can be considered a
  • 67. 67 Simulation. Simulation activities include case experiences, experiential exercises, vestibule training, management games & role-play. Cases: - Present an in depth description of a particular problem an employee might encounter on the job. The employee attempts to find and analyze the problem, evaluate alternative courses of action & decide what course of action would be most satisfactory. Experiential Exercises: - Are usually short, structured learning experiences where individuals learn by doing. For instance, rather than talking about inter-personal conflicts & how to deal with them, an experiential exercise could be used to create a conflict situation where employees have to experience a conflict personally & work out its solutions. Vestibule Training: - Employees learn their jobs on the equipment they will be using, but the training is conducted away from the actual work floor. While expensive, Vestibule training allows employees to get a full feel for doing task without real world pressures. Additionally, it minimizes the problem of transferring learning to the job. Role Play: - It’s just like acting out a given role as in a stage play. In this method of training, the trainees are required to enact defined roles on the basis of oral or written description of a particular situation. Management Games: - The game is devised on a model of a business situation. The trainees are divided into groups who represent the management of competing companies. They make decisions just like these are made in real-life situations. Decisions made by the groups are evaluated & the likely implications of the decisions are fed back to the groups. The game goes on in several rounds to take the time dimension into account. In-Basket Exercise: - Also known as In-tray method of training. The trainee is presented with a pack of papers & files in a tray containing administrative problems & is asked to take decisions on these problems & is asked to take decisions on these within a stipulated time. The decisions taken by the trainees are compared with one another. The trainees are provided feedback on their performance.
  • 68. 68 8.4 Implementation of training and Development: Method of training: Method of training is totally depending upon the profile of training. E.g. for technical training if possible then they give on-job training otherwise company use method of off job training. Procedure of training: Assessment of need of training: It is the first step of training procedure. Head of the department and HR department assess the need whether employee need training or not. They find employee who require training. Prepare budget for training: HR manager decide budget for training by considering its cost from the market. And benefits for the company. Search for Internal or External trainer: Internal Trainer:
  • 69. 69 After assessment of need of training, they search for a trainer in theirs company who can train there employee. They search trainer among their employees. External trainer: If they didn’t find internal trainer then they go for External trainer. They try to find external professional trainer from their personnel contact, by giving advertisement in news paper etc. Design program for training: HR manager or head of the department present there need to trainer. They assess type of training and design training program by the help of trainer within the budget. Report to head of the plant: HR manager give the details about training to head of the plant and sanction the approval of training. Implementation: After designing the program for training, they implement in practical in their employee.
  • 70. 70 Chapter 9: Collection, analysis & interpretation of data
  • 71. 71 Chapter: 9 Introduction of Data Analysis. The word Analysis means the process of breaking down a Complex set of facts into simple element while Interpretation stands for the explanations which analyzed the statements and also make out or bring out the meaning of creative work. Analysis and Interpretation are done according to department wise and according to questionnaire. This analysis and Interpretation will definitely help to the company for the future strategies. Following are the analysis and Interpretation of the results. These all analysis is imagine for general company. It is very necessary to understand the psychological tendency of employee. Because it is a quietly subjective so it will slightly deviate the opinion of the employee. The Department of the company where I conduct survey. There are 100 employees in each department. Total employees are 500. 1. Purchase 2. Finance 3. Production 4. Packing and dispatch 5. Research and Development
  • 72. 72 Table No 9.1 Survey in Purchase Department: Option Responses Percentage Yes 70 70 No 30 30 (Source: Primary data: Questionnaire) S urvey in P urc hac e Department G raph No 9.1 30% Y es No 70% Figure No. 9.1/7(Source: primary data survey questionnaire) INTERPRETATION: -
  • 73. 73 The above pie-diagram shows that 70% of employees of purchase department are highly satisfied with the Talent Management process. Hence, we can say in Purchase department talent management is effective process for employee as well as organization. Survey in Finance Department: Option Responses Percentage Yes 72 72 No 28 28 (Source: Primary Data: Questionnaire)
  • 74. 74 S urvey in F inanc e Department G raph No 9.2 28% Y es No 72% Figure No. 9.2/7(Source: primary data survey questionnaire) INTERPRETATION: - The above pie-diagram shows that 80% of employee of finance department are highly satisfied with the Talent Management process, 10%are satisfied, 6% are natural, 4%are dissatisfied. Hence, we can say in Finance department, talent management is effective process for employee as well as organization. Survey in Production Department: Option Responses Percentage 65 65 No 35 35