Chapter 2 of Jackson HRM, These slides will cover completely the meaning and definition of strategic HRM and parallel processes.
i.e. What is Strategic HRM? How strategic HRM can become a competitive advantage for an organization? What is planning process of Strategic HRM and what are the techniques to manage human resources , make competitive advantage sustainable, managing shortage or surplus of human resources?
Chapter 2 of Jackson HRM, These slides will cover completely the meaning and definition of strategic HRM and parallel processes.
i.e. What is Strategic HRM? How strategic HRM can become a competitive advantage for an organization? What is planning process of Strategic HRM and what are the techniques to manage human resources , make competitive advantage sustainable, managing shortage or surplus of human resources?
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With 60% of employees stating that they will look to change jobs when the economy picks up, what should you be doing to manage & retain your talent?
FellowBuddy.com is an innovative platform that brings students together to share notes, exam papers, study guides, project reports and presentation for upcoming exams.
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I’m a young Pakistani Blogger, Academic Writer, Freelancer, Quaidian & MPhil Scholar, Quote Lover, Co-Founder at Essar Student Fund & Blueprism Academia, belonging from Mehdiabad, Skardu, Gilgit Baltistan, Pakistan.
I am an academic writer & freelancer! I can work on Research Paper, Thesis Writing, Academic Research, Research Project, Proposals, Assignments, Business Plans, and Case study research.
Expertise:
Management Sciences, Business Management, Marketing, HRM, Banking, Business Marketing, Corporate Finance, International Business Management
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With 60% of employees stating that they will look to change jobs when the economy picks up, what should you be doing to manage & retain your talent?
Difference Between Performance Management & Talent ManagmenttSheheryar Alvi
The presentation is about how talent management is different from performance management, advantages and disadvantages of talent management, strategic point of view of TM and talent retention strategy.
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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2008 Global Talent Management Program for SHRM Chicago
1. GLOBAL TALENT MANAGEMENT PROGRAM
Annual SHRM Conference
Chicago, USA
June 16, 2008
Developed by:
MAZHAR SYED
2. Talent Management Overview
> An effective Talent Management approach unites HR functions that build,
retain, develop, and manage a competent workforce, capable of taking the
organization into the future.
> Talent Management strategically incorporates several HR activities:
> Recruiting talent and planning for future workforce needs
> Developing talent, consistently managing their performance
> Retaining talent, creating a positive and supportive work culture
> TM initiatives retain and groom talented employees at one of these levels:
- Narrow view focuses on management level (high-potential talent)
Eg: High-Potential Employees (HiPos) are retained for Leadership Positions
- Broader view focuses on talented individuals at all levels
Eg: Retention of employees from the Front-Line to the Board Room.
3. Talent Management
Talent Management
Recruitment & Workforce Talent Development, Retention & Creation of Positive
Planning Performance Management Work Culture
Strategic Workforce Planning Talent Development Talent Retention Strategies
Staffing Programs Performance Management Positive Work Culture
Staffing Metrics & Results TD Metrics & Results TR Metrics
Global Staffing Approaches Global TD Challenges Global TR Challenges
4. Recruitment & Workforce Planning
> Strategic Workforce Planning
The goal of strategic workforce planning is to ensure the availability of qualified
employees when they are needed to achieve organization goals.
> Staffing Programs
Candidates are sourced and recruited either globally or locally, efficient selection and
screening tools are utilized to hire competent individuals.
> Staffing Metrics, Measuring Results
Workforce Planning & Employment is an HR function that lends itself more readily
to measurement than other functions.
> Global Staffing Approaches
A globally competitive organization considers several factors to build a reliable
international workforce, beginning with targeting of suitable labor markets to recruit
its employees. It requires strategy and research.
5. Strategic Workforce Planning
> Workforce Goals & Objectives: Forecasting future workforce needs
Organization leaders make decisions about how to achieve business goals and
objectives that attain a competitive advantage
Staffing needs analysis translates strategic workforce goals and objectives into a
tactical action plan
Organizational design decisions occur as part of the strategic planning process
- Eg: Reengineering, Corporate Restructuring, Mergers & Acquisitions etc.
> Job Analysis & Job Description: Job Analysis process provides the foundation
for identifying the knowledge, skills, and abilities (KSAs) needed to achieve specific
results in an organization. Such information is compiled into a Job Description to
locate individuals with relevant KSAs.
Job Competencies: Core job competencies must be developed for traits the
organization values and would like to see in all employees.
- Eg: Teamwork, Communication, Customer Focus etc.
Job Specifications: Efficient job specifications define outcomes and expectations
for performance.
Continued……
6. Strategic Workforce Planning
> Identification of Qualified Employees: Organizations have following three
options for locating the talent
Internal Talent: The first place to look for qualified employees to fill
future needs is among top performers who already work for the firm.
- Advantage: High levels of performance, employee retention
- Disadvantage: Breakdown of teamwork, jockeying for political position
External Talent: Organizations need to look for new employees of
highly specialized skills under time and business needs.
- Advantage: Diversity, new ideas /skills, revitalized operations
- Disadvantage: Lower morale of existing top performers
Alternative Staffing Methods: Wide range of alternatives provide
varying levels of flexibility to the organization
- Eg: Job sharing, part-time employees, internships, on-call workers.
7. Staffing Programs
> Sourcing & Recruiting Candidates: The sourcing and recruiting of qualified
candidates to fill open positions is critical to the success of every organization.
Recruiting Strategies
- Employer Brand
- Total Reward Packages
- Relationship Management with Candidates, Universities, Search Firms etc.
Recruiting Methods
- Internal Recruiting
- Succession Planning
- External Recruiting
- Eg: Walk-ins, Job Fairs, Internet Job Boards, Company Website
Candidate Selection Tools
- Screening Tools
- Eg: Resumes, CVs, Application forms
- Selection Tools
- Eg: Behavioral / Structured / Panel Interviews
- Candidate Testing Programs
- Eg: Aptitude / EQ / Personality / Technical Tests
8. Staffing Metrics & Measuring Results
> Business Impact Measures:
Return on Investment (ROI): [Benefits] / [Total Related Direct & Indirect Costs]
Employee Productivity Metrics: [Total Output] / [Number of Employees]
> HR’s Tactical Accountability in Staffing:
Accession Rate: [Total No. of New Employees] / [Total No. of Employees]
Quality-of-Hire: It is measured by assessing the performance of new hire.
Cost-per-Hire: [Total Costs of Hiring Employees] / [Number of New Hires]
Time-to-Hire: The time lapse between date of job posting to the date of hiring.
Replacement Cost: A sum of cost-per-hire and costs of training, lost
productivity, temporary replacements. On an average, the replacement cost of
each employee reaches 300% of his or her total annual salary.
Turnover: [Average number of Total Employees] / [Employees who exited]
9. Global Staffing Approaches
More organizations are going global more than ever before. Intelligent
organizations utilize one of the following International Staffing Strategies
in building a global workforce and competitive edge.
> Ethnocentric Approach: All of the key management positions, irrespective of
organization locations, are filled by expatriates.
> Polycentric Approach: Corporate positions in the home country are filled with
expatriates, while management positions in the host country are filled by home
country nationals.
> Regiocentric Approach: Managers are moved between business units in different
countries of the region.
> Geocentric Approach: The most competitive approach is to source and place the
best-qualified person into each position, regardless of their country of region.
10. Talent Development, Performance Management
> Talent Development
Organizations develop promoted employees with new KSAs which are required to
move forward and take on additional responsibilities.
> Performance Management
A successful performance management system provides for an employee’s
professional development within the context of organizational needs.
> TD Metrics, Measuring Results
The most important measure for talent development is how (or whether) a talent
development intervention directly affected business results.
> Global TD Challenges
Global organizations face challenges of maintaining teamwork across countries and
regions, and understanding cultural differences for relevant motivation techniques.
11. Talent Development
> Employee Development: Development of front-line employees is crucial as they are
more visible to customers and end-users; add greater impact on organization success.
Customizable Job Design: When an employee shows potential to grow, new
responsibilities, tasks, and goals could be assigned to groom new KSAs.
Skills Training: Skills training could be either job-specific like learning a new software, or
soft skills training like improving verbal communication skills.
Supervisory Training: Supervisory training usually involves topics related to interactions
with employees such as interviewing, performance appraisals.
High-potential Employees: High-potential employees are identified as future organization
leaders. They are provided with a broad view of organizational needs by job rotations.
Mentoring Programs: Mentors in formal programs receive training to develop skills in
mentoring, and both mentors and mentees set expectations from the relationship.
Coaching Programs: Specialized coaches are brought on-board to develop an employee in a
specific skill; for example leadership, goal setting etc.
> Management Development: Management development programs include exposure
to financial and technology management, internal controls, basic managerial skills.
> Leadership Development: LD programs could be a combination of classroom
training in specific areas, sponsorship of an MBA, hands-on training with mentor.
12. Performance Management
Effective performance management system is based on an agreement between
the manager and employee about what the job requires.
> Performance Appraisal: The process of reviewing how well employees perform their
duties during a specified period of time.
> Elements of Performance Appraisal: Elements of a complete performance review.
Supervisor assessment
Employee self-assessment
Assessment from others
Goal setting
Development goals
> Appraisal Methods: Elements of a complete performance review.
Comparison methods. Eg: Ranking, Paired Comparison.
Rating methods. Eg: Rating scales, Checklists.
Narrative methods. Eg: Critical incident, Essay.
Behavioral methods. Eg: Continuous feedback.
13. Talent Development Metrics & Global Challenges
> Business Impact Measures: Impact of development programs on results
Production Measures: Measures taken prior and after several months of training
Return on Investment (ROI): [Benefits] / [Total Related Direct & Indirect Costs]
> HR’s Tactical Accountability in Talent Development:
Training cost per employee: [Total Cost] / [Total No. of Full-time Employees]
Employee Satisfaction Surveys: Effectiveness of HRD programs is calibrated
> Global Talent Development Challenges: An international organization faces
following challenges in development and implementation of TD programs.
Logistical: Scheduling the delivery of an organization-wide TD intervention so
that all employees simultaneously have access to the same information, and read
or listen to it in their native languages.
Cultural Sensitivity: Presenting of business initiatives in a way that is sensitive
to the cultures of different regions and nations where the organization is located,
and how societal norms will affect the interpretation of presentations.
14. Talent Retention, Creation of Positive Work Culture
> Talent Retention Strategies
Employers retain top-talent by developing ‘employee- friendly’ policies and
programs that provide flexibility and recognize personal obligations of employees.
> Creation of Positive Work Culture
A positive work culture and organization climate is based on mutual respect, open
and honest communication, fair and equitable treatment, and mutual trust.
> Talent Retention Metrics
While talent retention or employee relations is a difficult concept to measure; two
indicators of employee satisfaction can be measured – absenteeism and turnover.
> Global Challenges
An intelligent global organization clearly understands the differences between the
employment laws and practices of those countries where its facilities are located. To
avoid costly errors, a driven HR provides this information to Senior Executives.
15. Talent Retention Strategies
Advances in technology have made non-traditional work arrangements
feasible that were not possible in the past. Organizations in return are able to
retain talent, maintain invested KSAs, save costs, energy, commute etc.
Telecommuting: It provides employees an added advantage in connecting to the
company network via Internet and communicating with co-workers and
managers via email, telephone, and fax, all from home or a remote location.
Flextime: Organizations set ‘core hours’ during which all employees are
required to be at work, while the remaining hours of work week could be
tailored by the employee according to work and personal obligations.
Compressed work weeks: Several organizations allow employees to work four
10-hour work days in a week, thus providing longer weekends to performers.
Part-time work: Employees may wish to reduce their full-time working hours
for a variety of reasons such as undertaking an educational curriculum, or caring
for parents or young children. Thus, employers provide part-time schedules.
Job sharing: When two part-time employees share one job, they enhance results
with their complimentary skills thus adding creativity. The employer can benefit
from this practice in several ways.
16. Creation of Positive Work Culture
The work culture of an organization has a long-lasting impact on
internal/external business goals. Business leaders increase productivity by
implementing the following fair employee treatment practices.
Leading: When the executive team supports employees in making decisions and
taking risks, it demonstrates trust in the competence of its employees. Employees
who are empowered to take ownership of deliverables are more productive.
Analyzing: When management listens to employee ideas and concerns and acts
on them, mutual respect is built. It helps them to listen and understand differing
points of view and in equally supporting decisions that are made together.
Communicating: The role of open and honest communication in an organization
is significant. It should be both top-down and bottom-up, and management must
be willing to act on information that may be contrary to its decisions.
Relationship Building: Relationship and trust are built over time, when
management continuously demonstrates that its actions are based on fairness
and equity. And in return provides quick input to employees regarding
decisions which affect them. The win-win relationship is strengthened when
organizational problems and challenges are honestly shared with employees.
17. Talent Retention Metrics & Global Challenges
> HR’s Tactical Accountability in Talent Retention:
Absenteeism: Excessive unplanned absences can be an indication of employee
stress, dissatisfaction with job requirements, supervisory conflicts, and feeling
undervalued by the employer.
Turnover: [Average number of Total Employees] / [Employees who exited]
> Global Talent Retention Challenges: International organizations face challenges due
to differing and conflicting labor, immigration, and employment regulations between
host and home countries where the facilities are located. Following, and other
questions specific to particular countries must be answered:
Does the host country restrict the number of expatriates (as per their citizenship,
religion, cultural background) allowed to gain employment in the country?
How does the local/national legal system view the international organization’s
employee handbook? And is it allowed or not allowed in the host country?
Does the legal system recognize at-will employment? Or is an employment
contract required?
18. Brainstorming Benefits of Talent Management
> Many business leaders might ask “Why should we build Talent
Management capabilities, when we already have an HR function?”
> A well designed and implemented Talent Management program answers
the following questions and strategically solves internal and external -
global business challenges:
What makes a successful global HR function?
How do we globally compete and win the war for talent?
How do we facilitate organizational and individual learning?
Which HR competencies have the most impact on performance?
How could we define and measure HR’s effect on the bottom-line?
Which are the best tools to measure and improve employee performance?
How could we create value and grow business in new regions and countries?