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TALENT MANAGEMENT
Code: KMBNHR01
Credit: 3
Teaching Hours: 36
Course objective
1. This course focuses on the attraction, acquisition, and
retention of talent in organizations
2. A clear understanding of talent management and its linkage
with organizational strategy and other HR practices.
3. To provide the understanding of acquiring and retaining the
talent in the organization.
4. To provide them the process of identifying and developing
the potential talent to fulfil the present and future need of
the organization.
5. In addition, the course will cover the negotiation problems
that managers may face in decision-making processes; for
example, the hiring negotiation, the promotion negotiation,
the firing decision, and HR-relevant cross-cultural
negotiation issues.
Unit 1 (6 hours)
Introduction to Talent Management: Concept, Meaning
& Objectives, Role of Talent Management in building
Sustainable Competitive Advantage to a firm;
Key Processes of Talent Management: Recruitment,
Selection, Human Resource Planning, Retention,
Talent vs. Knowledge, Consequences of Failure in
Managing Talent,
Identifying and Assessing High-Potential Talent:
Current Organizational Practices . Case Studies
What is talent management?
Talent management has three components:
The full scope of HR processes: Talent management is about a
set of HR processes that integrate with each other. This means that
talent management activities are larger than the sum of the
individual parts. This also means that a talent management strategy
is required to capitalize on its full potential.
Attract, develop, motivate and retain: This is not a
comprehensive list. Talent management touches on all key HR
areas, from hiring to employee on boarding and from performance
management to retention.
High-performing employees: The purpose of talent management
is to increase performance. It aims to motivate, engage, and retain
employees to make them perform better. This is why the
importance of talent management is so significant.
When it’s done right, companies can build a sustainable
competitive advantage and outperform their competition
through an integrated system of talent management
practices that are hard to copy and/or imitate.
Talent may be defined as the inherent ability of an
individual to do a particular task in a particular way.
Talent management incorporates attracting, retaining
and developing the talent pool available to an
organization in association with the other functions of
management. Competence, capability and talents are
human assets of organizations.
Talent management is a systematic process of identifying,
assessing, developing and retaining people with critical
knowledge, skills and competencies.
Talent = Competence × Commitment × Contribution
C = competence :- able to do the work means the
knowledge, skills, and values that individuals require
for today’s and tomorrow’s jobs.
C = commitment :- means the level of employee
engagement is when employees work on time, work
hard and do what is expected of them.
C = contribution :- finding meaning & purpose in work.
Why is talent management important?
Businesses that take the time to develop their employees
and keep them engaged tend to be innovative and profitable.
Conversely, those that are unable to source or retain talent
generally have poor customer satisfaction and limited
growth potential.
What are some key components of talent management?
Building the kind of talent strategy that drives an
organization forward generally requires employers to:
Align talent goals with larger business objectives
Fulfill employee expectations and deliver on hiring
promises
Rely on data to make better workforce decisions
Benefits of talent management
Employers who create a culture that empowers employees
to be their best may be able to:
 Recruit in-demand talent
Businesses become employers of choice and attract talent
organically by making their brand a central component of
their talent strategy.
 Minimize disruptions
Unexpected departures cause gaps in coverage, but with a
talent pipeline, it’s possible to fill open positions quickly
and keep operations running smoothy.
 Improve productivity
Continuous strengths-based coaching helps employees
develop skills and reach their full potential, thereby
increasing efficiency.
 Reduce costs
Retaining valued team members and keeping them
engaged is usually more cost effective than sourcing and
training new hires.
 Innovate
Talented teams are more likely to develop new methods
of problem solving and make the most of advancements
in technology.
Benefits of TM Contd.
Benefits of Talent Management
1. It helps the organization fulfill its vision with the help
of efficient and promising talented people.
2. Talent management also assists the organization to
build a talent pool comprising a list of talented
people to meet future exigencies.
3. It makes the organization more competitive and
progressive.
4. It paves the way for future leadership. It helps
automate the core processes and helps capture data
for making better decisions.
5. Automates repetitive tasks like creating salaries
thereby releasing time and resources for making
strategies and more critical decisions.
Benefit for Organization
1. Enhances individual and group productivity and capacity to
compete effectively in a complex and dynamic environment
to achieve sustainable growth.
2. Assists in hiring quality workforce.
3. Establishes better match between jobs and skills.
4. Helps retain top talent thereby reducing the cost of hiring
new recruits.
5. Helps in understanding the employees better.
6. Keeps employees engaged constructively.
7. Effective use of available man-hours.
8. Helps develop leaders for tomorrow within the
Organization.
9. Helps in evaluating employee’s readiness to take up new
roles.
Benefit for Employees
1. Promotes long-term association with the
organization.
2. Persistent and higher productivity of
employees.
3. Keeps the employees motivated which helps
in career development.
4. Helps the employees get job satisfaction
from their work.
What is the talent management process?
The talent management process consists of finding the right
people and helping them discover and apply their strengths so
they can work and lead more effectively. Employers who do it
well generally follow these steps:
1. Recruit
Source candidates from outside or within the organization
using the most appropriate method, i.e., employee referrals,
social networks, job boards, etc.
2. Hire
Use analysis tools, prescreening questionnaires, skills tests
and interviews to narrow the list of candidates and make an
offer.
What is the talent management process?(contd.)
3. Engage: Keep teams connected and focused with
engagement tools that help identify potential retention risks
and retain top performers.
4. Perform: Monitor employee performance and collect data to
make more informed workforce decisions.
5. Recognize: Manage compensation equitably and reward top
performers.
6. Plan: Create succession plans that allow employees to
advance their careers when openings become available.
7. Develop: Make learning and development resources
accessible and relevant to employee expectations and needs
so they can do their jobs more effectively.
• Talent engagement through CSR
TALENT MANAGEMENT STRATEGY :
Executives and HR management have always been
focused on basic talent management—acquiring, hiring
and retaining talented employees. But, to drive optimal
levels of success, business leaders need engaged, high-
performing employees.
The key to inciting a workforce to greatness is to align
your talent management with company strategy, define
consistent leadership criteria across all functional areas,
and identify specific competencies (analytical, technical,
education, experience) to cultivate for continuing
growth.
The talent management Strategy can be
divided in to four main functions :
1. Acquire : It includes to find out the sources,
communicating to source, selection & its
placement.
2. Develop : it includes establishment of
performance standard to measure and manage
employee’s Performance, learning &
development programmed for all
organizational level.
3. Align: Here organizations try to tie the
compensation plan directly to performance
management so that compensation, incentives, and
benefits align with business goals and business
execution. In this organization try to align
individual goals with the goals of unit.
4. Assess : It includes to find out the gap between
desire level of talent pool and actual level of talent
pool.
Implement a Talent Management Strategy :
 Talent Management is a natural evolution of
HR.
It is a series of business processes -- not a
“product” or “solution” you can buy.
Talent Management is a “forward-looking”
function.
Not only should talent management improve
organization’s flexibility and performance, it
should give the information and tools to plan for
growth, change, acquisitions, and critical new
product and service initiatives.
Importance of talent management :
 Developing Leaders through Talent Management.
 Diversity in the Workplace.
 Growth and Innovation Agenda.
 Talent Management and Skills Development.
 Productivity and Management Practices.
 Limited flexibility of organizations to train from scratch,
which encourages a search in the labour market for
experienced staff.
 Management Practices Tied to Several Measures of
Corporate Success.
 Improving employee engagement.
 Organizational excellence through talent management.
Challenges of TM:
Attracting and retaining enough employees at
all levels to meet the needs of organisations.
Creating a value proposition that appeals to
multiple generations. Most companies are
struggling to create an employee experience that
appeals to individuals with diverse needs,
preferences and assumptions.
Developing a robust leadership pipeline.
Creating a workplace that is open to Boomers
in their “second careers.
Gender diversity also represents a talent barrier.
Keys for Effective Talent Management :
Every employer needs to understand the importance of talent
management and should develop a strategy to attract and retain the
talent that the organization needs to succeed.
Organizations can gain a competitive advantage by actively
engaging the core components of talent management– performance,
compensation, and learning management; succession planning; and
active collaboration with your social networking resources.
you should measure the success of your talent management strategy
with metrics that are strategically relevant to your business.
Organizations should use talent management technologies to view
and set talent management roadmaps, but not rely on them to make
talent management decisions.
Tools that automate and integrate the administrative aspects of the
talent management help to streamline processes and engage
Corporate-Level decision-makers.
Role of Talent management in building SCA
(sustainable competitive advantage)
Talent management is of strategic importance & by
developing the talent, organizations may develop strong
leadership teams which will help to take competitive
advantage and that will enable the organization to achieve
its goals & organizational success.
the new advantage lay with acquiring, developing and
retaining talented employees faster and more efficiently
than the competitors.
Is it any wonder that the next brave frontier for
competitive advantage has shifted to Talent
Management with the new millennium?
TM for SCA
Human capital is one of the most valuable Assets of the
organization. Now a Day it may possible that all of the
competing organization have the same kind of resources
but the one thing which differentiate the one organization
from others is its talent.
Talent represents the best people for the job in an
organization and who would contribute to most to the
achievement of its strategic goals and helps to earn
Competitive advantage.
Talent Management is a set of integrated organizational
HR processes designed to attract, develop, motivate, and
retain productive, engaged employees.
TM for SCA
Organizations know that they must have the best talent in
order to succeed in the hypercompetitive and increasingly
complex global economy.
Companies that can identify and match an applicant’s
inherent talents with their jobs and culture will enjoy a
competitive advantage by building a much more solid
foundation for tomorrow.
TM for SCA
Talent is a composite state made up of various
elements.
Talent is a set of unique abilities possessed by
individuals.
An Individual is said to be talented when he/she
possesses or acquires the following elements.
Skills, knowledge, intelligence, and experience
Ability to learn and grow
Judgment, attitude, character
Perseverance and self-motivation
Skill and Knowledge
Skill and knowledge both are the abilities of individuals.
Knowledge is information-based and skill is the ability to
perform a particular task in the required time frame.
Knowledge: It is the theoretical and practical understanding of any
subject. It provides the foundation to gain skills on any subject
or action. For example, an employee having good knowledge of
English language and grammar may not be able to speak in
good English, because communicating in English is a distinct
skill.
Skill: One can develop skills through experience, training, and
continuous effort. For example, an employee can develop
communication skills while continuously practicing and
communicating with colleagues or subordinates
TALENT KNOWLEDGE
A marked natural ability or skill. The fact of knowing about something;
general understanding or familiarity with
a subject, place, situation etc.
IS an innate understanding of the intricacies of
their field, and can produce something
impressive, even if they lack an ability at times to
explain it.
Knowledge, conversely, is
an understanding that is acquired through
study and experience.
talents break the rules, create, initiate, invent,
direct, and send—talents take initiative, they are
proactive.
Knowledge workers, in general, do not.
Knowledge workers take orders. They are
studious and obedient people.
Although talents, skills, and knowledge are each
important for building a strength, talent is always
the most important.
The reason is that your talents are innate
and cannot be acquired, unlike skills and
knowledge.
Knowledge and Talent both depend upon a very
important factor called Hard work.
If you really have high goals and if you really want
to achieve something than you must need to
work hard as Hard work beats talent when talent
doesn’t work hard.
Knowledge comes from hard work and
only talent can’t take you to the ladder of
success
So work hard , become knowledgeable
,be talented.

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TM Unit 1 12-10-22.pptx

  • 2. Course objective 1. This course focuses on the attraction, acquisition, and retention of talent in organizations 2. A clear understanding of talent management and its linkage with organizational strategy and other HR practices. 3. To provide the understanding of acquiring and retaining the talent in the organization. 4. To provide them the process of identifying and developing the potential talent to fulfil the present and future need of the organization. 5. In addition, the course will cover the negotiation problems that managers may face in decision-making processes; for example, the hiring negotiation, the promotion negotiation, the firing decision, and HR-relevant cross-cultural negotiation issues.
  • 3. Unit 1 (6 hours) Introduction to Talent Management: Concept, Meaning & Objectives, Role of Talent Management in building Sustainable Competitive Advantage to a firm; Key Processes of Talent Management: Recruitment, Selection, Human Resource Planning, Retention, Talent vs. Knowledge, Consequences of Failure in Managing Talent, Identifying and Assessing High-Potential Talent: Current Organizational Practices . Case Studies
  • 4. What is talent management? Talent management has three components: The full scope of HR processes: Talent management is about a set of HR processes that integrate with each other. This means that talent management activities are larger than the sum of the individual parts. This also means that a talent management strategy is required to capitalize on its full potential. Attract, develop, motivate and retain: This is not a comprehensive list. Talent management touches on all key HR areas, from hiring to employee on boarding and from performance management to retention. High-performing employees: The purpose of talent management is to increase performance. It aims to motivate, engage, and retain employees to make them perform better. This is why the importance of talent management is so significant.
  • 5. When it’s done right, companies can build a sustainable competitive advantage and outperform their competition through an integrated system of talent management practices that are hard to copy and/or imitate.
  • 6. Talent may be defined as the inherent ability of an individual to do a particular task in a particular way. Talent management incorporates attracting, retaining and developing the talent pool available to an organization in association with the other functions of management. Competence, capability and talents are human assets of organizations. Talent management is a systematic process of identifying, assessing, developing and retaining people with critical knowledge, skills and competencies.
  • 7. Talent = Competence × Commitment × Contribution C = competence :- able to do the work means the knowledge, skills, and values that individuals require for today’s and tomorrow’s jobs. C = commitment :- means the level of employee engagement is when employees work on time, work hard and do what is expected of them. C = contribution :- finding meaning & purpose in work.
  • 8. Why is talent management important? Businesses that take the time to develop their employees and keep them engaged tend to be innovative and profitable. Conversely, those that are unable to source or retain talent generally have poor customer satisfaction and limited growth potential. What are some key components of talent management? Building the kind of talent strategy that drives an organization forward generally requires employers to: Align talent goals with larger business objectives Fulfill employee expectations and deliver on hiring promises Rely on data to make better workforce decisions
  • 9. Benefits of talent management Employers who create a culture that empowers employees to be their best may be able to:  Recruit in-demand talent Businesses become employers of choice and attract talent organically by making their brand a central component of their talent strategy.  Minimize disruptions Unexpected departures cause gaps in coverage, but with a talent pipeline, it’s possible to fill open positions quickly and keep operations running smoothy.
  • 10.  Improve productivity Continuous strengths-based coaching helps employees develop skills and reach their full potential, thereby increasing efficiency.  Reduce costs Retaining valued team members and keeping them engaged is usually more cost effective than sourcing and training new hires.  Innovate Talented teams are more likely to develop new methods of problem solving and make the most of advancements in technology. Benefits of TM Contd.
  • 11. Benefits of Talent Management 1. It helps the organization fulfill its vision with the help of efficient and promising talented people. 2. Talent management also assists the organization to build a talent pool comprising a list of talented people to meet future exigencies. 3. It makes the organization more competitive and progressive. 4. It paves the way for future leadership. It helps automate the core processes and helps capture data for making better decisions. 5. Automates repetitive tasks like creating salaries thereby releasing time and resources for making strategies and more critical decisions.
  • 12. Benefit for Organization 1. Enhances individual and group productivity and capacity to compete effectively in a complex and dynamic environment to achieve sustainable growth. 2. Assists in hiring quality workforce. 3. Establishes better match between jobs and skills. 4. Helps retain top talent thereby reducing the cost of hiring new recruits. 5. Helps in understanding the employees better. 6. Keeps employees engaged constructively. 7. Effective use of available man-hours. 8. Helps develop leaders for tomorrow within the Organization. 9. Helps in evaluating employee’s readiness to take up new roles.
  • 13. Benefit for Employees 1. Promotes long-term association with the organization. 2. Persistent and higher productivity of employees. 3. Keeps the employees motivated which helps in career development. 4. Helps the employees get job satisfaction from their work.
  • 14. What is the talent management process? The talent management process consists of finding the right people and helping them discover and apply their strengths so they can work and lead more effectively. Employers who do it well generally follow these steps: 1. Recruit Source candidates from outside or within the organization using the most appropriate method, i.e., employee referrals, social networks, job boards, etc. 2. Hire Use analysis tools, prescreening questionnaires, skills tests and interviews to narrow the list of candidates and make an offer.
  • 15. What is the talent management process?(contd.) 3. Engage: Keep teams connected and focused with engagement tools that help identify potential retention risks and retain top performers. 4. Perform: Monitor employee performance and collect data to make more informed workforce decisions. 5. Recognize: Manage compensation equitably and reward top performers. 6. Plan: Create succession plans that allow employees to advance their careers when openings become available. 7. Develop: Make learning and development resources accessible and relevant to employee expectations and needs so they can do their jobs more effectively.
  • 16. • Talent engagement through CSR
  • 17. TALENT MANAGEMENT STRATEGY : Executives and HR management have always been focused on basic talent management—acquiring, hiring and retaining talented employees. But, to drive optimal levels of success, business leaders need engaged, high- performing employees. The key to inciting a workforce to greatness is to align your talent management with company strategy, define consistent leadership criteria across all functional areas, and identify specific competencies (analytical, technical, education, experience) to cultivate for continuing growth.
  • 18. The talent management Strategy can be divided in to four main functions : 1. Acquire : It includes to find out the sources, communicating to source, selection & its placement. 2. Develop : it includes establishment of performance standard to measure and manage employee’s Performance, learning & development programmed for all organizational level.
  • 19. 3. Align: Here organizations try to tie the compensation plan directly to performance management so that compensation, incentives, and benefits align with business goals and business execution. In this organization try to align individual goals with the goals of unit. 4. Assess : It includes to find out the gap between desire level of talent pool and actual level of talent pool.
  • 20. Implement a Talent Management Strategy :  Talent Management is a natural evolution of HR. It is a series of business processes -- not a “product” or “solution” you can buy. Talent Management is a “forward-looking” function. Not only should talent management improve organization’s flexibility and performance, it should give the information and tools to plan for growth, change, acquisitions, and critical new product and service initiatives.
  • 21. Importance of talent management :  Developing Leaders through Talent Management.  Diversity in the Workplace.  Growth and Innovation Agenda.  Talent Management and Skills Development.  Productivity and Management Practices.  Limited flexibility of organizations to train from scratch, which encourages a search in the labour market for experienced staff.  Management Practices Tied to Several Measures of Corporate Success.  Improving employee engagement.  Organizational excellence through talent management.
  • 22. Challenges of TM: Attracting and retaining enough employees at all levels to meet the needs of organisations. Creating a value proposition that appeals to multiple generations. Most companies are struggling to create an employee experience that appeals to individuals with diverse needs, preferences and assumptions. Developing a robust leadership pipeline. Creating a workplace that is open to Boomers in their “second careers. Gender diversity also represents a talent barrier.
  • 23. Keys for Effective Talent Management : Every employer needs to understand the importance of talent management and should develop a strategy to attract and retain the talent that the organization needs to succeed. Organizations can gain a competitive advantage by actively engaging the core components of talent management– performance, compensation, and learning management; succession planning; and active collaboration with your social networking resources. you should measure the success of your talent management strategy with metrics that are strategically relevant to your business. Organizations should use talent management technologies to view and set talent management roadmaps, but not rely on them to make talent management decisions. Tools that automate and integrate the administrative aspects of the talent management help to streamline processes and engage Corporate-Level decision-makers.
  • 24. Role of Talent management in building SCA (sustainable competitive advantage) Talent management is of strategic importance & by developing the talent, organizations may develop strong leadership teams which will help to take competitive advantage and that will enable the organization to achieve its goals & organizational success. the new advantage lay with acquiring, developing and retaining talented employees faster and more efficiently than the competitors. Is it any wonder that the next brave frontier for competitive advantage has shifted to Talent Management with the new millennium? TM for SCA
  • 25. Human capital is one of the most valuable Assets of the organization. Now a Day it may possible that all of the competing organization have the same kind of resources but the one thing which differentiate the one organization from others is its talent. Talent represents the best people for the job in an organization and who would contribute to most to the achievement of its strategic goals and helps to earn Competitive advantage. Talent Management is a set of integrated organizational HR processes designed to attract, develop, motivate, and retain productive, engaged employees. TM for SCA
  • 26. Organizations know that they must have the best talent in order to succeed in the hypercompetitive and increasingly complex global economy. Companies that can identify and match an applicant’s inherent talents with their jobs and culture will enjoy a competitive advantage by building a much more solid foundation for tomorrow. TM for SCA
  • 27. Talent is a composite state made up of various elements. Talent is a set of unique abilities possessed by individuals. An Individual is said to be talented when he/she possesses or acquires the following elements. Skills, knowledge, intelligence, and experience Ability to learn and grow Judgment, attitude, character Perseverance and self-motivation
  • 28. Skill and Knowledge Skill and knowledge both are the abilities of individuals. Knowledge is information-based and skill is the ability to perform a particular task in the required time frame. Knowledge: It is the theoretical and practical understanding of any subject. It provides the foundation to gain skills on any subject or action. For example, an employee having good knowledge of English language and grammar may not be able to speak in good English, because communicating in English is a distinct skill. Skill: One can develop skills through experience, training, and continuous effort. For example, an employee can develop communication skills while continuously practicing and communicating with colleagues or subordinates
  • 29. TALENT KNOWLEDGE A marked natural ability or skill. The fact of knowing about something; general understanding or familiarity with a subject, place, situation etc. IS an innate understanding of the intricacies of their field, and can produce something impressive, even if they lack an ability at times to explain it. Knowledge, conversely, is an understanding that is acquired through study and experience. talents break the rules, create, initiate, invent, direct, and send—talents take initiative, they are proactive. Knowledge workers, in general, do not. Knowledge workers take orders. They are studious and obedient people. Although talents, skills, and knowledge are each important for building a strength, talent is always the most important. The reason is that your talents are innate and cannot be acquired, unlike skills and knowledge. Knowledge and Talent both depend upon a very important factor called Hard work. If you really have high goals and if you really want to achieve something than you must need to work hard as Hard work beats talent when talent doesn’t work hard. Knowledge comes from hard work and only talent can’t take you to the ladder of success So work hard , become knowledgeable ,be talented.