Attracting, developing, and retaining talent
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The document discusses the company's talent supply chain which includes three facets: talent acquisition, talent management, and talent retention. Talent acquisition involves selection, assessment, interviewing, onboarding, and diversity programs. Talent management covers performance management, leadership development, succession planning, assessments, and employee development. Talent retention focuses on compensation, rewards, culture, and surveys. The company aims to align its talent processes with business objectives.
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This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/team-management-models-1212
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The document discusses key aspects of developing compensation plans, including identifying appropriate compensation policies, establishing internal pay equity, and understanding different approaches such as job-based versus skill-based compensation. It also outlines the components of compensation systems, types of compensation, total compensation packages, criteria for developing plans, and tools for setting compensation.
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This document provides an overview of compensation management. It begins with introducing compensation management including its history, definition, perspectives, purposes, how compensation is used, and the relationship between compensation, performance, motivation, engagement, and turnover. It then discusses compensation systems including definitions of compensation, relational returns, and total compensation. Finally, it outlines compensation models including policies, techniques, and objectives.
Employee motivation,incentives and fringe benefits
The document discusses various theories and approaches to motivating employees, including incentives and fringe benefits. It describes motivation as being driven by needs and desires and influenced by both intrinsic and extrinsic factors. A number of prominent motivation theories are examined, including Maslow's hierarchy of needs, Herzberg's two-factor theory, and McClelland's achievement motivation theory. The document also outlines different types of incentive plans that can be used to motivate employees, such as financial incentives like bonuses and profit sharing, as well as non-financial incentives like recognition and flexible work schedules. Finally, it defines and discusses the purpose of providing fringe benefits to employees.
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Company Recruitment Strategy
Recruitment involves attracting and hiring qualified talent for current and future openings. Small businesses can use internal and external strategies to recruit applicants and fill vacancies. The recruitment process begins with planning and continues through recruitment, interviews, and staff selection.
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Role of HR Manager
The HR Manager is the most critical role in the HR Organization. The HR Manager represents Human Resources and shares responsibilities with the HR team and the internal client.
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The document discusses key topics in human resource management including gaining competitive advantage through people, the impact of globalization and technology, managing change, developing human capital, responding to market pressures, containing costs, and addressing demographic and employee concerns. It outlines objectives for understanding how these factors influence HR strategies and the roles and competencies of today's HR managers.
Challenges of Human Resource Management
This document discusses the challenges of human resource management in modern organizations. It begins with an introduction on the importance of human resources to an organization's success. It then identifies several challenges HR faces, including globalization, workforce diversity, technological advances, changes in the political/legal and economic environments, information technology revolutions, and organizational restructuring. Additional challenges discussed include professional mobility, the growing importance of strategic HR, and factors like accommodating worker needs, increased managerial complexity, legislation/litigation, consistency, expertise, and human resource costs. The document emphasizes that effective HR management is needed to help organizations adapt to these ongoing changes in the business environment.
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The document provides an introduction to human resource management. It discusses key points such as the definition of HRM, the history and evolution of HRM approaches, functions of HRM including strategic and operational functions, emerging roles of HRM, and challenges faced by HR professionals. Organizational structure and its relationship to HRM is also examined, including differences between formal and informal organizations as well as line and staff functions. The roles of HR executives are outlined.
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Summary of a report that looked at the state-of-the-art in performance management. It identifies the top 5 tools used today to manage performance and adds some words of advice.
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This document discusses international human resource management. It begins by defining IHRM and explaining why global organizations develop international HR strategies due to factors like global competition and differences in business environments across countries. It then describes four types of international organizations and discusses some key aspects of IHRM like differences between domestic and international HRM, external factors that influence IHRM, and common IHRM practices such as international staffing, training for international assignments, repatriation, and compensation considerations. The document concludes that understanding cultural differences and workforce issues is important for HR managers and success in global business situations.
International hrm
The document discusses international human resource management (IHRM), defining it as managing organizational human resources at an international level to achieve objectives and competitive advantage globally. It outlines the IHRM model and characteristics distinguishing it from domestic HRM, including more activities, broader perspectives, and external influences. Reasons for growing IHRM interest include globalization, effective management, minimizing overseas risks, and implementing international strategies. Key IHRM steps and cultural differences are also presented.
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The document discusses recruitment and selection strategies. It outlines the program objectives which include becoming an expert in the employment process, creating an effective recruitment strategy, employing valuable recruitment methods, selecting the right employees through an objective process, benchmarking against competitors, and attaining higher retention rates. It then defines recruitment as the process of attracting, screening, and selecting candidates, and discusses using competencies to assess candidates. The remainder of the document provides guidance on developing a recruitment strategy including aligning stakeholders, considering market conditions, methods for recruiting, evaluating applications, interviews and references, making a final selection, assessing strategies, addressing legal issues, and next steps.
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Performance management is the systematic process of planning, monitoring, and developing employee work to achieve organizational goals. Talent management is a set of integrated HR processes to attract, develop, motivate, and retain productive employees to create a high-performance organization. Key differences include performance management focuses on ongoing feedback while performance appraisal assesses employees annually, and talent management ensures the right employees are ready to achieve strategic goals both currently and in the future. Effective talent management requires assessing employees, developing a talent strategy and system, and monitoring processes to retain key talent.
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Succession planning is a systematic approach to ensure leadership continuity by building a talent pool, developing potential successors based on their strengths, and identifying the best candidates for positions. It recognizes that some jobs are too critical to leave vacant and aims to create an effective process for growing and retaining top leaders through identifying long-term strategic needs, analyzing talent gaps, developing a succession strategy, and continually monitoring and evaluating the process. When done effectively, it is linked to strategic planning and critical for organizational success.
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The performance management system of TCS is built on core values of excellence, leading change, learning and sharing, integrity, and respect. It aims to help employees be more competitive by setting clear objectives, providing developmental feedback, ensuring fair performance appraisals, and motivating and managing talent. Performance appraisals are the core of the system and include periodic and project end appraisals. The appraisal process consists of performance planning, self-evaluation, evaluation and feedback, and rationalization. Performance is enabled through opportunities for continuous learning and competency management.
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Louise Agyeman-Barning gave a presentation on performance appraisal. She defined performance appraisal as a process where management evaluates and provides feedback on an employee's job performance and steps for improvement. She discussed the objectives of performance appraisal which are developmental, like providing feedback and determining training needs, and administrative, like linking rewards to performance. She also outlined the benefits, types, elements of an effective system, and process of performance appraisal.
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The document discusses competency frameworks and their development and use in human resource management. It defines competency as a combination of skills, attitude, and knowledge reflected in observable job behavior. An effective competency framework serves as the basis for people functions like recruitment, development, and performance management. It should be aligned with business strategy. Developing a competency model involves gathering job data, analyzing it to identify core, leadership, and specific competencies, validating the model, and linking it to HR applications. Challenges include ensuring specific, measurable competencies and gaining commitment to their use.
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The document discusses various topics related to strategic human resource management. It defines strategic HR as aligning people processes with business strategy objectives. It discusses using the HR business partner role to drive HR operations at the business unit level and represent business interests at the corporate level. It also summarizes various HR topics covered including performance management, compensation and benefits, recruitment, training, workforce planning, and policy implementation. The overall purpose seems to be providing an overview of strategic HR and how various HR functions can be leveraged to support business strategy.
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Staffing involves identifying, assessing, placing, evaluating, and developing individuals at work. It includes analyzing human resource needs, recruiting, selecting, placing, training, developing, appraising, career planning, and compensating employees. Performance appraisals are a key part of staffing and involve systematically evaluating employee job performance against set standards to provide feedback and determine eligibility for rewards, promotions, and compensation. The appraisal process includes laying out job expectations, designing the appraisal system, appraising performance, and using appraisal data to make decisions about employees.
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Attracting, developing, and retaining talent
- 2. TALENT SUPPLY CHAIN There are three facets that support our Talent Supply Chain…
- 3. TALENT ACQUISITION Talent Acquisition includes: Selection Methodology Assessment (Statistical Validation of external and internal tools) Behavioral Based Interviewing On-Boarding Diversity Program
- 5. TALENT MANAGEMENT Talent Management includes: Performance Management Leadership and Training Development Succession Planning Talent Assessment/Planning Executive Coaching Employee Development Program
- 6. PERFORMANCE MANAGEMENT STRATEGY Total Rewards Strategy Development Planning Performance Reviews (Mid & End of Year) Goal Setting (OGTM) Quarterly Plan and Reviews Performance Management Strategy
- 7. TALENT PLANNING OBJECTIVES Align beliefs around talent (Talent Philosophy) Agree on talent rankings by function (Talent Assessment) Classify jobs into categories (Position Identification) Set ratings goals for job categories (Position Evaluation) Identify training and development needs across the organization (Organizational Training Matrix) Determine rewards and recognition philosophy (Talent Retention Philosophy)
- 8. POSITION IDENTIFICATION A Position STRATEGIC B Position OPERATIONAL C Position STAPLE DEFINING CHARACTERISTICS Has a direct strategic impact AND Exhibits high performance variability among those in the position, representing upside potential Has an indirect strategic impact by supporting strategic positions and minimizes downside risk by providing a foundation for strategic efforts OR Has a potential strategic impact, but exhibits little performance variability among those in the position May be required for the firm to function but has little strategic impact Scope of Authority Autonomous decision making Specific processes or procedures typically must be followed Little discretion in work Primary determinant of compensation Performance Job level Market price Effect on value creation Creates value by substantially enhancing revenue opportunities are greater loss to the firm Supports value-creating positions Has little positive economic impact Consequences of mistakes May be very costly, but missed revenue opportunities are greater loss to the firm May be very costly and can destroy value Not necessarily costly Consequences of hiring wrong person Significant expense in terms of lost training investment and revenue opportunities Fairly easily remedied through hiring of replacement Easily remedied through hiring of replacement
- 9. TALENT PLANNING OBJECTIVESPotentialAssessment High High Low A Jobs - Strategic B Jobs - Operational C Jobs - Staple Performance: an assessment of how an individual is doing in their current position. - This typically includes the assessment of the individual’s technical capability in their given field. Potential: an assessment of an individuals ability to move to higher levels of leadership. - Should have a solid foundation of leadership skills on which to build. - Should have potential to take on new roles/responsibilities - Not necessarily one specific job, but any number of roles within the company - Assess against leadership characteristics NOTE: It’s important to differentiate between high performance and high potential – but to consider both Peach Bob Tam Derek Kim Sarjit Kun Phil Mark Performance Results
- 10. TALENT RETENTION Talent Retention includes: Compensation Strategy Values/Rewards and Recognition program Organizational Survey Culture
- 11. TOTAL REWARDS STRATEGY The Total Rewards Strategy aligns our pay for performance strategy to each of our compensation tools: Salary Structure Semi-Annual Promotion Program Semi-Annual Pay Adjustment Program Annual Merit Program Annual Performance Bonus
- 12. METRICS FOR SUCCESS Talent Architect Success can be analyzed through the following Metrics: Performance (Mid and End of Year) Performance to Leadership Competencies Employee Potential Productivity Job Satisfaction Attrition (Voluntary and Involuntary) Development Planning Training Success Metrics/Evaluations Program Evaluation(s)