talent management

1. Dr.YogeshDaudkhane
TALENTMANAGEMENT

2. DEFINING TALENT
‘Talent consists of those individuals who can make adifference to
organisationalperformance, either through their immediate
contribution or in the longer term bydemonstrating the highest
levels of potential’
Accordingto McKinsey
, talent is the sum of
⚫ aperson’sabilities,
⚫ his or her intrinsicgifts,
⚫ skills, knowledge, experience ,
⚫ intelligence,
⚫ judgment,attitude, character, drive,
⚫ his or her abilityto learn and grow

3. TALENT MANAGEMENT
Aconscious, deliberate approach undertaken to attract, develop
and retain people with the aptitude and abilities to meet current
and future organisational needs.
TALENT=COMPETENCE+COMMITMENT+CONTRIBUTION

4. What is Talent Management?
Talent management is defined as the methodically organized,
strategic process of getting the right talent onboard and helping
them grow to their optimal capabilities keeping organizational
objectives in mind.

5. Recruitment Vs Talent Acquisition
.

6. PURPOSE OF TM
⚫ To compete effectively in a complex and dynamic environment to
achieve sustainable growth
⚫ T
o develop leadersfor tomorrow from within anorganization
⚫ T
o maximize employee performance as a unique source of
competitive advantage
⚫ T
o empower employees:
Cut down on highturnover rates
Reduce the cost of constantly hiring new people to train

7. BENEFITS OF TM
⚫ Right Person in the right Job:Throughaproper ascertainment ofpeople
skills and strengths,people decisions gainastrategic agenda.The skill or
competency mapping allowsyouto take stock of skill inventories lyingwith the
organization.This is especially important both from the perspective of the
organizationaswell asthe employee becausewhen the right person is
deployed in the right position employee productivity willalways increase.Also
since there is a better alignment between an individual’sinterests and hisjob
profile the jobsatisfaction is increased.
⚫ Retaining the top talent:Despite changesin the globaleconomy
, attrition
remainsamajor concern of organizations.Retaining top talent is important to
leadership and growth in the marketplace.Organisations that failto retain their
top talent are at the risk of losing out to competitors.The focus is now on
charting employee retention programs and strategies to recruit, develop,retain
andengagequality people.Employeegrowth in acareer hasto be taken care of,
while succession planning is being performed those who are on the radar need
to be kept in loop so that they know their performance is being rewarded.

8. BENEFITS OFTM contd..
⚫ Better Hiring:The quality of an organizationis the quality of workforce it
possesses.The best wayto have talent at the top is have talent at the bottom. No
wonder then talent management programs and trainings,hiring assessments
havebecome an integral aspect of HR processes nowadays.
⚫ Understanding Employees Better: Employee assessments give deep
insightsto the management about their employees.Their development needs,
career aspirations,strengths and weaknesses,abilities,likes and dislikes.It is
easier therefore to determine what motivates whom and this helps alot Job
enrichment process.
⚫ Better professional development decisions: When anorganizationgets
to know who its high potential is,it becomes easier to invest in their
professionaldevelopment.Sincedevelopment calls for investment decisions
towards learning,training and development of the individual either for growth,
succession planning,performance managementetc, an organizationremains
bothered where to make this investment, and talent management just make this
easier for them.

9. FOCUSSES OF TM APPROACHES
⚫ Recruitment - ensuring the right people are attracted to the organisation.
⚫ Retention - developing and implementing practices that reward and support
employees.
⚫ Employee development - ensuring continuous informal and formal learning
anddevelopment.
⚫ Leadership and "high potential employee" development - specific
development programs for existingand future leaders.
⚫ Performance management - specific processes that nurture and support
performance, includingfeedback/measurement.
⚫ Workforce planning - planning for business and general changes,including
the older workforce and current/future skillsshortages.
⚫ Culture - development of apositive,progressive andhigh performance "way
of operating".

10. TM - A PROCESS

11. 1. Workforce Planning: Integrated with the businessplan, this
process establishes workforce plans,hiring plans,compensation
budgets,and hiring targets for the year.
2. Recruiting: Throughan integrated processof recruiting,
assessment,evaluation,and hiring the business brings people into
the organization.
3. Onboarding: The organization must train and enable employees
to become productive and integrated into the company more
quickly.
4. Performance Management: byusing the businessplan,the
organization establishes processes to measure and manage
employees.
PROCESS

12. 5. Training and Performance Support: Thisisacritically
important function.Learning and development programs is
provided to all levelsof the organisation.Thisfunction itself is
evolving into acontinuous support function.
6. Succession Planning: as the organization evolves and changes,
there is acontinuous need to move people into new
positions. Succession planning, averyimportant function, enables
managers and individuals to identify the right candidatesfor a
position. This function also must be aligned with the business
planto understand and meet requirements for key positions 3-5
years out. While this is often aprocess reserved for managers and
executives,it is more commonly applied across the organization.

13. 7. Compensation and Benefits: Thisisanintegral part of
people management. Here organizations tryto tie the
compensation plan directlyto performance management so that
compensation,incentives,and benefits align with business goals
and businessexecution.
8. Critical Skills GapAnalysis: This is aprocess we identify asan
important, often overlooked function in manyindustriesand
organizations.While often done on aproject basis,it canbe
"business-critical." For example,today industries like the Federal
Government, Utilities,T
elecommunications, and Energy are facing
large populations which are retiring. How do you identify the
roles,individuals,and competencies which are leaving? What
should you do to fill these gaps? Wecall this "critical talent
management" and manyorganizations are goingthroughthis now
.

14. Causes of Employee Attrition
• Poor job satisfaction and pay
• Not enough career opportunities
• Poor workplace culture
• Lack of employee motivation
• Poor work-life balance
• Bad Manager
• Lack of Recognition
• Employee Burnout
• Not fitting in and feeling a sense of belonging
• Waves like Great Resignation.. (details on next slide)

16. Consequences of Failure in Managing Talent
• Increased employee turnover
• High cost of replacement
• Productivity declined
• Poor Brand image
• Lack of consistency hampers many projects in the
organization.
• Delay in achieving organizational objective

17. Benefits of better Talent management systems
FOR EMPLOYEERS
o Better recruitment process
o Increased diversity & inclusion
o Better employee engagement
o Minimize attrition
o Better succession planning
FOR EMPLOYEES
 Better onboarding experience.
 More opportunities for training and reskilling
 Career advancement
 Improved performance management
 Improved overall employee experience & performance

18. Role & responsibilities of TM Professional
• Determine current staffing needs and produce forecasts
• Develop talent acquisition strategies and hiring plans
• Lead employment branding initiatives
• Perform sourcing to fill open positions and anticipate future
needs
• Plan and conduct recruitment and selection processes
(interviews, screening calls etc.)
• Take steps to ensure positive candidate experience
• Assist in employee retention and development
• Supervise recruiting personnel
• Organize and/or attend career fairs, assessment centers or other
events
• Use metrics to create reports and identify areas of
improvement

19. SOME TM SYSTEMS
T
alent Edge - Infosys Peoplesoft - Oracle

20. TALENT PROGRAMMES OF TCS
⚫ ILP-Initial learningprogramme
⚫ CLP-Continuouslearningprogramme
⚫ LDP-Leadership developing programme
⚫ FLI-Foreign language initiative workplace learning .
Anorganization wouldfollow it in three main steps:
1. Finding the right talent
2. Hiring that particular talent
3. Making sure that hired talent stays for alonger period of time

21. FINDING THE RIGHTTALENT
⚫ Campus Hire – SustainingLeadership Position
⚫ 94.1% Day1 slots in campuses acrossIndia
⚫ No. of InstitutesAccredited:433

22. RETAINING
⚫ Performance Driven Culture
- Recognize high performers&highpotentialemployees
⚫ Meet EmployeeAspirations
- Challenging Roles
⚫ Enhance Employee Connect
- Empowered organization units

23. ELEMENTS OF EFFECTIVE TM
⚫ Recruiting candidates who are talented and competent to support the organisation’s
goals.
⚫ Anactive dialogue between managersand employees to determine which employees
desire to grow,which are happyto be at their current levels and which are at risk of
leavingand their reasons;
⚫ Anemployee development plan that recognizes the new talents and competencies
that are needed for each employee’s internal career path to be able to prepare to
progressin the organization
⚫ Ameasurement system that will allow the organization to track progress and identify
high potential employees in each talent pool when the need for employee movement
arises.

24. RECENT TRENDS IN TM
⚫ T
alentW
ar
⚫ Technology
⚫ Increase in Employer of Choice Initiatives
⚫ PromotingTalent Internally
⚫ Population

25. RECENT TRENDS IN TM
⚫ Talent War:Findingandretaining the best talent isthe most
difficultaspect of HR management.HR survey consultanciesare
one in their view that organizationsgloballyare facingadearth of
talented employeesand it’s often more difficult to retain them.
Further research has alsoshown that there is clear link between
talent issues and overall productivity
.
⚫ T
echnology andT
alent Management:T
echnology is
increasinglygetting introduced into people development. Online
employee portals have become common place in organizations to
offer easy accessto employees to various benefits and schemes.In
addition employeescan also managetheir careers through these
portals and it alsohelps organizations understand their employees
better.

26. ⚫Talent Management to rescue HR :HR hasbeen
compelled to focus on qualitative aspects equally and even
more than quantitative aspects like the head count etc.
Through talent management more effort is now being laid on
designing and maintaining employee scorecards and
employee surveys for ensuring that talent is nurtured and
grown perpetually
.
⚫Increase in Employer of Choice Initiatives:An
organization’sperceived value as an employer ashelps
improveits brand value in the eyes of its consumer.Most
importantlyit helps it attract the right talent.

27. ⚫ Promoting Talent Internally: Anindividual ishired, when there isa
fit between his abilities or skills and the requirements of the
organization.The next step is enabling learning and development of the
same so that he/she stays with the organization.This isemployee
retention.Anenabled or empowered means an empowered
organization.It is also of interest to organizations to know their skills
inventories and then develop the right individual for succession
planning internally.
⚫ Population Worries Globally: World populations are either young
or aging. For example, stats have it that by 2050 60%ofEurope’s
working population will be over 60! On the other hand a country like
India can boast of a young population in the coming and present times.
Population demographics are thus adisturbing factor for people
managers. Still more researches have predicted that demographic
changes in United States will lead to shortage of 10 million workers in
the near future!

28. How to Master Recruiting
Mads Faurholt Jorgensen
TEDxWarwick
https://www.youtube.com/watch?v=sxjgL64czRY

29. Three basic principles
of great talent
management
https://www.youtube.com/watch?v=vxuxmUZfmpI