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Talent management

Institute of Rural Management
Institute of Rural Management
Institute of Rural ManagementInstitute of Rural Management

Talent management refers to the skills of attracting highly skilled workers, of integrating new workers, and developing and retaining current workers to meet current and future business objectives.

Talent management

1 of 18
Talent management
Talent management refers to the skills of
    attracting highly skilled workers, of
 integrating new workers, and developing
   and retaining current workers to meet
  current and future business objectives.
It is also known as HCM (Human Capital
               Management).
Companies that focus on developing
their talent integrate plans and
processes to track and manage their
employee talent, including the
following:
 Sourcing, attracting, recruiting
and onboarding qualified candidates
with competitive backgrounds.
Managing and defining competitive
salaries
Training and
development opportunities
Performance management processes
Retention programs
Promotion and transitioning.
Assure our success in
                fulfilling our Mission               FULFILL
                                                     MISSION



     Help us achieve operational                     ACHIEVE
                                                   OPERATIONAL
              excellence
                                                    EXCELLENCE



  Recruit, retain and                                            DEVELOP
develop the right talent                           RETAIN
                                         RECRUIT



                                         Liberating the Potential of
                                                   People
… BENEFITS FOR ORGANISATION

  -Increased     productivity      and
  capacity

  -Linkage between individual efforts
  & business goals

  -Commitment of valued employees

  -Better fit between people’s jobs and
  skills
… BENEFITS FOR EMPLOYEES

-Higher motivation & commitment

-Career development

-Increased knowledge

-Contribution towards company
goals

-Job satisfaction

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Talent management

  • 2. Talent management refers to the skills of attracting highly skilled workers, of integrating new workers, and developing and retaining current workers to meet current and future business objectives. It is also known as HCM (Human Capital Management).
  • 3. Companies that focus on developing their talent integrate plans and processes to track and manage their employee talent, including the following: Sourcing, attracting, recruiting and onboarding qualified candidates with competitive backgrounds. Managing and defining competitive salaries Training and development opportunities Performance management processes Retention programs Promotion and transitioning.
  • 4. Assure our success in fulfilling our Mission FULFILL MISSION Help us achieve operational ACHIEVE OPERATIONAL excellence EXCELLENCE Recruit, retain and DEVELOP develop the right talent RETAIN RECRUIT Liberating the Potential of People
  • 5. … BENEFITS FOR ORGANISATION -Increased productivity and capacity -Linkage between individual efforts & business goals -Commitment of valued employees -Better fit between people’s jobs and skills
  • 6. … BENEFITS FOR EMPLOYEES -Higher motivation & commitment -Career development -Increased knowledge -Contribution towards company goals -Job satisfaction
  • 7. … MANAGING TALENT Recognizing talent Attracting talent Selecting talent How To Manage Talent? Retaining talent Managing succession Change organisation culture
  • 8. … MANAGING TALENT -Corporate identity -Recruitment and selection -Performance management and coaching -Employee development and training -Compensation, rewards and benefits -Success planning and leadership development -Compliance, policy and procedures
  • 9. Talent Inventory Succession Development Plan • Identify needed Planning • Job Rotation Competencies • Identify • Development • Identify Key Successors to key Assignments Position Positions • Formal Training • Identify High • Identify Competency Gaps • Mentoring Potential • Leadership Employees • Develop Recruitment Plans Development
  • 10. … DEVELOPING TALENT Real world examples: TCS ILP : Initial Learning Program CLP : Continuous Learning Program LDP : Leadership Development Program FLI : Foreign Language Initiative Workplace learning
  • 11. … MOTIVATING TALENT -Recognition & rewards -Acknowledgment -Cash incentives -Gifts -Certificate of appreciation -Opportunities to attend workshops/training/events -Membership to exclusive clubs -Holiday packages -Scholarships for children
  • 12. … MOTIVATING TALENT Real world examples: Wipro : - Encore Individual Level- Feather in my cap (On the spot recognition) Organisation Level – Master mind (Most innovation solution)
  • 13. “90% of Indian companies have talent retention problems”. - AIMA -Pay (variable) Wipro : 30 to 50 per cent Infosys : 10 to 30 per cent -Benefits TCS: Housing loans Personal computer Automobiles Medical insurance for employee &Family -Learning and growth - Work culture/environment
  • 14. … TALENT RETENTION Benefits: Real world examples: Infosys Insurance: 13000 employees-Rs. 10 Lacs –LIC First Indian firm – ESOP Transport : Bus service (Bangalore city to Infosys office)
  • 15. Learning and Growth: Real world examples: TCS: 4 per cent of revenue spent in learning and growth Work Culture: •Organisation culture •Communication system •Participation •Recognition •Rewards
  • 16. … TALENT RETENTION Work Culture: Real world examples: TCS: • Open house session program • One to one session • Queries and discussions are formally recorded and followed up.
  • 17. - ONGC Ltd. - GAIL (India) Ltd. - Reliance
  • 18. “Do not try to fit a square peg in a round hole”.