Professional Documents
Culture Documents
PDM MBA
syllabus
UNIT-I Introduction Concept of talent management, strategic importance of talent, talent imperatives, elements of talent management, workforce diversity and talent management, role of HR in talent management UNIT-II Talent Procurement and Deployment Identifying talent needs, sourcing talent; developing talent, deployment of talent, establishing talent management system, talent multiplication UNIT-III Talent Retention Cost and consequences of talent departure, diagnosing causes of talent departure, measuring and monitoring turnover and retention data, designing engagement strategies, drivers of engagements UNIT-IV Return of Talent Measuring contribution of talent to business performance, talent metrics, measuring human capital investment, transformation and reorganization of HR, new imperatives, talent forces of tomorrow
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Unit-1
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Talent Management
TM introduced by Mc Kinsey consultants, late 1990s TM is identified as the critical success factor in corporate world TM focuses on differentiated performance: A, B, C players influencing company performance and success identifying key positions in the organization !!! Surveys show that firms recognize the importance of talent management but they lack the competence required to manage it effectively
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What is Talent?
According to McKinsey; talent is the sum of a persons abilities, his or her intrinsic gifts, skills, knowledge, experience , intelligence, judgment, attitude, character, drive, his or her ability to learn and grow.
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TALENT MANAGEMENT
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There are different approaches to talent management in organizations A successful TM model has to link
TM creed (culture, values, expectations) with TM strategy and TM system. (Lance and Dorothy Berger, 2011)
should be embedded in HR systems as selection criteria, competency definitions, performance and promotion criteria and development processes.
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Multi-Rater Assessment
Employee. The owner of the career plan that is aligned with the succession plan Boss. The primary assessor Bosss boss. The key link in the vertical succession and career plan Bosss peer group. Source of potential new assignments in the same or other function
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Diagnostic Tools
SuperkeeperTM reservoir. SuperkeepersTM are employees whose performance greatly exceeds expectations, who inspire others to greatly exceed expectations, and who embody institutional competencies. Keeper Key position backups. The insurance policies that ensure organization continuity. Every key position should have at least one backup at the Keeper (exceed job expectations) level. Surpluses. Positions with more than one replacement for an incumbent. While ostensibly a positive result of the talent management process, it can be a potential source of turnover and morale problems if the replacements are blocked by a non-promotable incumbent and/or there is no realistic way most of the promotable replacements can advance. Voids. Positions without a qualified backup. Determine whether it will transfer someone from the surplus pool, develop alternative candidates, or recruit externally.
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Blockages. Non-promotable incumbents standing in the path of one or more high-potential or promotable employees. Problem employees. Those not meeting job expectations (measured achievement or competency proficiency). Give opportunity to improve, receive remedial action, or be terminated. The time frame should be no longer than six months.
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Monitoring Processes
Evaluate the results of talent management system on a regular basis for quality, timeliness and credibility
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What is competency?
Competencies are the core elements of talent management practices
They are the demonstrable and measurable knowledge, skills, behaviors, personal characteristics that are associated with or predictive of excellent job performance. Examples
Adaptability, teamwork, decision making, customer orientation, leadership, innovation etc.
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Why Competencies?
The challenge is to identify which competencies the organization expects to see in their people The starting point of the model is the creed (values, principles, expectations) and the business strategies Through a competency model the organization sends a consistent message to the workforce about what it takes to be successful in the job Helps employees understand what helps drive successful performance The Competency Model approach focuses on the How of the job. Competency model is behavioral rather than functional, focuses on the people rather than jobs Competency models are outcome driven rather than activities (Job descriptions focus on activities, competencies focus on outcomes) Integrates HR strategy with business strategy both focus on outcomes
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Why Competencies?
The competency model serves as the foundation upon which all workforce processes are built.
Competencies promote alignment of talent management systems by creating a common language that enables these systems to talk with each other! That is, results of one TM system is used as the input data for the following TM system.
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Choosing Competencies
Before choosing competencies in an organization following requirements must have been completed: Establishment of vision, mission, values Strategic business goals Identification of the tasks, responsibilities and outcomes expected from each position Identification of the superior (exemplary) performers Satisfactory competency library
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Talent Management
TALENT=COMPETENCE+COMMITMENT+CONTRIBUTI ON
Being competent is not only enough to be a talent The competent person should be committed to the causes and goals of the organization And should be able and willing to contribute to the success of the organization So, developing your talent is not enough, the organizations need to take all the measures to motivate, reward their talent pool to gain their commitment and contribution. Retention is also essential to gaurantee future alignment of the talent with the right key positions
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Analysis
Potential Candidates
Assessment
Career Potancial Candidates Committees and Succession Lists
Development
Talent Development Programs
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Integrated Functions of TM
Performance appraisals, assessments of potential, competency evaluations, career planning, and replacement planning (the core elements of talent management) should be linked to each other. Stand alone functions are destined to end with failure
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HR and TM
HUMAN RESOURCES MANAGEMENT o Broad Scope (entire employees) o Emphasize egalitarianism oFocus on administrative functions oTransactional oFocus on systems with silo approach TALENT MANAGEMENT
oFocus on segmentation (key group of core employees and key positions) o Focus on potential people oFocus on the attraction, development and retention of talent oFocus on integratation of PDM MBA 36 HR systems
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Retaining Talent
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Some beginnings
Infosys has a rock band that plays at their amphitheatre and at outside concerts Organisations have started initiatives like
Film clubs that hold screenings every month, Knowledge sharing forums Job referral programmes such Frito Lays Bring a Friend to Work Blogs
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Cont
Infosys: widespread use of intranet, tele and video conferences, employee surveys, Brown Bag Lunches etc. to ensure two way communication Phillips Software: Express Yourself and Watch this Space boards for employees to write their views Elais, Greece: Lunch with CEO at a upmarket restaurant IKEA, USA: Express Yourself Postcards to CEO Forbes Marshall: Monthly Meetings; Quarterly Video Magazine
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Performance Management
Aditya Birla Management Center: Common form and scale for all; right placement or outplacement for non-performers
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Cont
Performance Management RMSI: transparent system allows all employees to calculate their own bonus Sapient: Career Management Program: 70% turnaround rate thru PIP Honeywell: Self assessment of competencies; Higher education assistance to all employees; Annual Appraisal survey Adobe: Job rotation and alternative career path Godrej Consumer Products: Normalization by Leadership level; Total Talent Management process for assessing growth potential; use of 360 degree for senior managers
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Financial Impact of Talent Management on Recruitment and Retention: Reduces staffing costs Reduces staffing cycle times by 50-70% Reduces vacancy rates by up to 50% Reduces first-year turnover and overall turnover Improves productivity
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Few Challenges.
The changing workplace The ethical dimension Creating a retentive organisation An understanding of employee behaviour
What do they seek? What makes them stick? What makes them leave?
Emerging Markets - Wage inflation and attrition Can these be an alternative labor market ?
65 + 55 to 64
20%
45 to 54 - 9% 25 to 34
10% 0
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Source: U.S. Bureau of Labor Statistics
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Talent Management a GLOBAL challenge: Talent Crisis How to WIN in this environment? 1) INNOVATION 2) MOMENTUM
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3) TECHNOLOGY
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Succession Planning
Lead
Performance Management
Career Planning
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POWERHUNT
What is POWERHUNT? An in-house Recruitment / Talent Management software driving over all Business Strategy with inbuilt business intelligence.
Who can benefit from it? It can be used by any recruitment consulting firm as well as by the recruitment division of any organization. Its modules are custom designed based on the clients needs.
INNOVATION
TECHNOLOGY
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Admin Branch Head / Product Head Team Leader Business Development / Coordination Talent Search Franchise Management Finance / Admin Client Module
Transparent Performance and Compensation Management Short-term (daily) /long term / Across levels and functions Business Analytics Output module Short-term (daily) /long term Central Data / CV management. Linked to main website Crisis Management Business Development Coordination PDM / Talent MBASearch
INNOVATION
MOMENTUM
TECHNOLOGY
Growth
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Acquire
Develop
Deploy
Retain
Focus: Managing Best People
Acquire
Develop
CONNECT
Capability
Deploy
Retain
Commitment
Alignment
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Workforce diversity
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Source: Reprinted from April 24, 2000 issue of Business Week by special permission, copyright Inc. PDM MBA 2000 by The McGraw-Hill Companies, 15 - 65
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Dimensions of Diversity
Two dimensions
Primary Secondary
The greater the number of dimensions that are different, the more difficult it is to establish trust and respect
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Dimensions of Diversity
Primary dimensions are core characteristics of each individual that cannot be changed
Age Race Gender Physical and mental abilities Sexual orientation
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Prejudiced Attitudes
Prejudice is a premature judgment or an opinion that is formed without examination of the facts
Often based on primary or secondary dimensions
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Prejudiced Attitudes
Prejudiced people tend to think in terms of stereotypes Generalizations made about all members of a particular group
Perceptions Beliefs Expectations
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Prejudiced Attitudes
When we bring stereotypes to the workplace, we are likely to misinterpret or devalue some primary and secondary differences, even after we have been exposed to them
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Prejudiced Attitudes
Most common and powerful stereotypes focus on observable attributes
Age Gender Ethnicity
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Prejudiced Attitudes
Stereotypes exist because they provide easy and convenient ways to deal with people Stereotypes often are based on one or several real experiences in dealing with others
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Prejudiced Attitudes
Xenophobia is a fear of foreigners or other strange-seeming people
Stereotype that has evolved into an anxiety disorder
Prejudiced attitudes are more likely to change when we take time to learn about others
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Childhood Experiences
The emotions of prejudice are formed in childhood Children learn attitudes and beliefs from family, friends, and other authority figures They learn how to view and treat different racial, ethnic, religious, and other groups
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Childhood Experiences
Prejudices from childhood are alterable Prejudice continues until new information replaces old perceptions
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Ethnic Identity
Ethnic a group united by similar
Customs Characteristics Race Other common factor
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Ethnocentrism
Ethnocentrism is the tendency to regard our own culture or nation as better or more correct than others The standards or values of one culture are being used as a standard to measure the worth of other cultures
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Economic Factors
Hard to eliminate Rooted in basic survival needs Reinforced by wide wealth and income gap between whites and nonwhites
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Economic Factors
Peoples prejudice against each other increases when the economy goes through a recession or depression and housing, jobs, and other necessities become scarce
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Discrimination
Denial of
Employment Promotion Training Other job-related privileges
On the basis of
Race Lifestyle Gender Other characteristics
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Types of Discrimination
Gender Age Race Religion Disability Sexual orientation Other subtle forms
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Gender
Focus of much attention Traditional roles for women have been changing Women in the work force New roles for men
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Age
Applies to both older worker and younger workers based on perceptions
Youth for lack of practical experience Old for difficulty adapting to change
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Race
Race denotes a category of people perceived as distinctive on the basis of biologically inherited traits
skin color hair texture
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Myth of Race
The use of racial categories by the U.S. Census Bureau has been criticized Critics say they are social inventions that reinforce racism No scientific justification in human biology Suggest elimination of traditional categories
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Myth of Race
Individual difference are greater than group differences Wide variety with any group
i.e. AsianFilipino, Chinese, Japanese, Korean Linguistic, cultural and physical diversity
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Religion
Religious discrimination has been an issue throughout history Intolerance for other religions Intolerance for different denominations within a religion
i.e. ChristiansCatholics, Mormons, Southern Baptist
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3. Islam
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Disability
Mentally or physically challenged people find it difficult to enter the job market Their right to do so are protected by the Americans with Disabilities Act (ADA) of 1991
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Disability
Some employers still unwilling or unable to make reasonable accommodations Possibly loosing
Hard-working employees New customer base Economic opportunities
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Sexual Orientation
Discrimination based on a persons sexual orientation is motivated by homophobia Sexual orientation is not the big secret it once was When we are comfortable about being ourselves, we are usually more productive and creative
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Source: From USA Today, May 18, 2000. Copyright 2000, USA Today. Reprinted with permission.
MT OR ID NV CA AZ
WY
UT CO
NM
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Sexual Orientation
Progressive companies are taking steps to provide a more open atmosphere
Employee associations Nondiscrimination policies Benefits for same-sex partners Recruitment efforts
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Valuing Diversity
Valuing diversity means that an organization intends to make full use of all employees
Talents Ideas Experiences Perspectives
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Valuing Diversity
To remain competitive, organizations must recognize and hire the best talent regardless of
Skin color Gender Cultural background
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Discrimination complaints Tension, stress, low morale Absenteeism and lost time Delayed production Increased conflict among employees
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Valuing Diversity
Managing diversity as an asset can exert a positive influence on
Productivity Cooperation
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Managing Diversity
Process of creating an organizational culture where the primary and secondary dimensions of diversity are respected As workforce becomes more diverse, this becomes more challenging
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Figure 15.4
Figure 15.5
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Organizational Commitment
Diversity programs seen as an event, or quickfix can do more harm than good Organizational redesign in which diversity programs are seen as a process are more likely to be successful Objectives need to be clear in order to access outcomes
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Employment Practices
Actively recruit diversity Plug into alternative networks Foster a climate for retention
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insert table 15.5, page 379 Organizations Subject to Affirmative Action Rules and Regulations
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Protected Individuals
Sex/gender (women, including those who are pregnant) Racial or ethnic origin (not limited to those of color) Religion (special beliefs and practices) Age (individuals over 40)
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Protected Individuals
Individuals with disabilities (physical or mental) Sexual orientation (some state and city, not federal) Military experience (Vietnam-era veterans) Marital status (same-gender couples; some states, not federal)
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Summary
Work force diversity is a major issue for organizations that want to remain competitive in a global economy
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Summary
Primary dimensions of diversity include
Age Race Gender Physical and mental abilities Sexual orientation
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Summary
Secondary dimensions include
Health habits Religious beliefs Ethnic customs Communication style Relationship status Income General appearance Education and training
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Prejudice and discrimination are major barriers to effective human relations Prejudice is an attitude formed partly on ignorance, fear, and cultural conditioning
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Summary
Prejudiced people often see others as stereotypes rather than unique individuals Discrimination is a behavior based on prejudicial attitudes
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Summary
Groups protected by law from discrimination include
Gender Age Race Abilities Religion Sexual orientation Subtle forms
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The issue of valuing diversity is an economic one for most organizations Companies cannot afford to ignore the current changes in the pool of human resources
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Summary
Individuals can enhance diversity by letting go of their stereotypes and learning to critically and honestly evaluate their prejudiced attitudes Organizations must develop a culture that respects and enhances diversity
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Summary
Diversity training programs should become an internal process rather than one event Companies need to seek out and employ people from diverse backgrounds
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Summary
Affirmative action guidelines have helped bring fairness in hiring and promotion in many companies Some people believe these practices are discriminatory because of preferential treatment they were designed to protect
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Cont..
MANAGING TALENT PROCESSES Performance management, Succession planning/decision analytics, Targeted selection and talent reviews, Development planning/support (including learning management), Career development, Workforce planning, and Recruiting. TECHNOLOGY SUPPORT
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Uint-2
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Assessment Benchmarking
Define performance standards Identify appropriate assessments
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Assessment/Development Centers?
What is an assessment/development center? An assessment/development center is a process designed to identify an individuals strengths, weaknesses, and potential in a current or future role. The assessment process is characterized by: Multiple participants rated by multiple assessors on several varied exercises Many of these exercises are designed to assess competencies Data integration: a structured evaluation of the participant in which assessors present objective evidence and reach a consensus decision The outcome of an assessment/development center are: Written reports detailing a participants competencies as they relate to job requirements One-to-one sessions examining the reports
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Combine multiple assessment and business simulation methodologies to achieve the best possible predictor of future performance Offers comprehensive secondary evaluation of preferred candidate strengths and weaknesses Are the most powerful tool to predict the profile you want to hire save money over time Measure performance and potential therefore strengthening the leadership pipeline allowing organizations to develop training strategies to further develop and grow talent Hiring managers can be involved and refresh their own assessment/coaching skills Offer broad range of competencies, individually or in group Provide wealth of information available to feedback to all involved Offers great opportunity to seal psychological contract
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Technical Skills
Trainable
Discipline Understanding Knowledge & Experience Capability Demonstrated competencies Attributes Behaviours that infer potential
Untrainable
Drivers
Motivational Fit
Career Fit
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Psych Assessment
Untrainable
Motivational Fit
Behavioural Interview
Career Fit
Preferential Interview
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Assessment Centers
Advantage Most powerful tool to predict profile you hire saves money over time Hiring managers can be involved and refresh their own assessment/coaching skills Performance and potential Broad range of competences, individually or in group Wealth of information available to feedback to all involved Offers great opportunity to seal psychological contract
Disadvantage Time investment required from candidate though they get more in-depth feedback in return and can also make an informed decision Relatively expensive in short term though saves money in the long run
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Client Issue: Very high personnel turnover Young graduates selection procedure Only one interview Or a full assessment center (interview, BAQ, RAT, simulation exercises, etc.)
AC Objective: Reduce the turnover of personnel What is the percentage of young graduates who left the company within the first 3 years? What is the difference between the young graduates who were selected versus an interview and the young graduates who were selected versus an AC?
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AC Interview
Case Study B
Talent Management Assesses Future Leaders
Challenge
The client, one of the worlds largest energy companies, had a program grooming high-potential employees for career advancement opportunities and broader leadership responsibilities. In 2008, the company revamped the process used to select employees for the program, making it more systematic and rigorous. As a result, the company needed a service provider with talent assessment expertise to evaluate candidates in the United Kingdom, the United States and Asia. Hudson was selected as the companys partner because of our robust methodology, global reach, the quality of our assessors and the cost-effectiveness of our offerings.
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Case Study B
Talent Management Assesses Future Leaders
Solution
Hudsons Talent Management team conducted a series of meetings to learn about the companys culture, values and leadership framework. Based on that background, we developed assessment materials that were uniquely suited to the clients leadership development program and trained our assessors to apply their high standards during interactions with candidates. In late 2008, we conducted assessments at three sites: London, Houston and Singapore. Some candidates were at a relatively early stage in their career with the client, while others had already attained senior-level positions. The type of assessments administered varied accordingly. Overall, about 85 candidates went through a series of ability and personality tests, simulation exercises, business case studies, interviews and group discussions.
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Summary
Identifying talent is going to become more vital with the predicted skills shortage and therefore more science must be added to the selection process Although it may look like an additional cost, adding science to selection can save thousands in the future It is important to identify the right solution for your organization and the types of roles you hire Whatever you do, always start with the right competencies for each role and build from there Always remember, high potential is developed through a solid understanding of competency and behavior
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Sourcing
Instilling a new talent mindset and developing a powerful employee value proposition are important but they aren't enough. A robust sourcing strategy is crucial. That means being clear about the kinds of people that are good for the organization, using various innovative channels to bring them in, and having a complete organizational commitment to recruiting the best.
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Exhibit 4.2
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Cont
A study was conducted by LBA consulting group in1990s. The study examined organization that hadsurvived and prospered, and those had failed, over atime period of 25 years. The result of the studysuggested that six human resource condition had to bemet in employees selection and performanceevaluation processes.
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Cont..
A performance oriented culture Low turnover (particularly in premium employees groups) High level of employee satisfaction A cadre of qualified replacement Effective investment in employee compensation &development Use of institutional competencies in employee selectionand performance evaluation processes
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Outcomes
The identification, selection, development, and retentionof super keepers. The identification and development of highqualityreplacement for a small number of position designated askey to current and future organization success. The classification of and investment in each employee based on his/her actual and/or potential for adding valueto the organization.
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Recruitment:The workforce plan drives the aggressiveand strategic recruitment of diverse and qualifiedcandidates for the agency's workforce.- Attracting Retention:Leaders, managers, and supervisors create andsustain effective working relationships withemployees.
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Attracting talent
Identifies the challenges involved in attracting a high-qualityworkforce Establish competency gap reduction goals and developaction plans to address current and future competencygaps Use appropriate hiring flexibilities and tools Attract and hires applicants who possess needed mission-critical competencies
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Managing Talent
Utilize flexible compensation strategies to retain employees Develop short- and long-term strategies and targeted investments in current employees to eliminate competency gaps Train the current workforce in required competencies needed by the agency
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Cont..
Conclusion based on this study were simple: to optimize an organization's ability to achieve sustained excellence, it must recognize the need for proactive talent management and have a systematic way of accomplishing the activity. On the basis of research organization focus on three outcomes:
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Cont..
"Consider an organization whose talent primarily consists of twelve individuals: a US professional basketball team. In 2006, the Miami Heat won the National Basketball Association championship, and they won it by multiplying their collective talents. Statistical analyses of individual player performances and the teams performance with different combinations of players on the court revealed that Shaquille ONeal, one of the best basketball players ever, was not the driving force behind the teams success. In fact, he was not even part of the best five-player combination (based on point differential when players are both in and out of the game).3 It was the Heats ability to engineer the best combinations of players talents that led them to victory. "When organizations combine employees skills and knowledge in ways that foster collaboration, knowledge sharing and collective learning, they can multiply their talent and elevate the performance of all employees, as well as teams, workgroups and entire workforces."
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Unit- 3
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Lack of leadership Lack of support Lack of shared goals, vision, mission. Training or professional development Inadequate compensation Potential for career advancement/growth No employee retention investment
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5. Implementation
outline the types of roles or experiences which may be offered as accelerated development opportunities develop each individuals required capabilities through a program of learning experiences development opportunities include: targeted job assignments, managing a project, a formal training program, access to a mentor etc
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6. Evaluation
establish clear timeframes for the organisation, evaluation could be in terms of whether organisational risk has been reduced or minimised. for the individual, evaluation includes selfassessment about the degree of capability development and demonstrated changes in performance and behaviour in the workplace.
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Talent Acquisition
Organizations need to get the right people on the bus and in the right seats to succeed. Good coaching, training, mentoring, etc., is not likely to make up for bad selection. Hire hard.Manage easy!
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Talent Acquisition
Individual
Organization
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Effort with distress (Strain) Working harder but with fatigue and anxiety
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Organisational Commitment
Engagement
Job Satisfaction
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Talent Retention
Who are your competitors? Colleagues / partners within the organization looking for another job
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ATTRACTION RETENTION
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Talent retention
Productivity Increase
Inclusive Growth
Business Growth
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Retention Strategies
Maintain Company Image. Initiate Recruitment, Selection and Development. Leadership the maxim - Employees join companies and Leave Managers. Learning opportunities Engagement Performance recognition and rewards. Individual and independent projects. Individual contribution. Maintain Company Image. Initiate Recruitment, Selection and Development.
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Cont
Leadership the maxim - Employees join companies and Leave Managers. Learning opportunities Engagement Performance recognition and rewards. Individual and independent projects. Individual contribution.
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EMPLOYEE ENGAGEMENT
Companies with highly engaged employees financially outperform those with low engagement levels, tend to experience lower retention risk, and experience less absenteeism (Durgin, 2007.
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Managers have direct one-on-one relationship with employees through use of open communication. Managers are a conduct for the organisations strategic priorities, visions and values. Setting smart goals with their teams. Taking owners of continuous development of their teams through performance management. Challenge themselves and their staff to stretch performance.
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EMPLOYEE ENGAGEMENT
Become a high performance organisation
Capable Well Led Equipped Well Managed
Clear Shared vision mission values, strategies Priorities set clear/smart goals
High Performance
Committed Engaged Accountable Empowered Equipped - resources
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From the Soft Stuff Works by Heidi Brauer and Marc Drizin
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Organisations increasingly recognise the need to create a culture which makes employees feel valued, a culture that fully leverages the skills of their human capital. Organisations whose culture values the employees are in a better position to achieve the desired business results through their employees. Define the desired culture for keeping talent. Culture is dynamic and e over time. Creation of a conducive environment for success. Managers have a critical role to play in instilling the desired culture.
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Cont..
The organisation : employer branding Have resources to perform. There is recognition of performance Conducive organisational structure. Attractive employee value proposition Keeping up with technological advances
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Unit-4
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Needs Assessment
Performance Measurement
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Good measurement systems dont just measure things done according to the organizational chart. Good systems measure things done to satisfy stakeholders.
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SPEED INDICATORS
response time records turn around time records cycle time records project completion dates meeting scheduled time records
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ACCURACY INDICATORS
judgment based climate or opinion surveys
focus groups comment cards telephone surveys advisory panels
opinions of community leaders meeting design specifications or passing an inspection point that ensures the product works. Customer returns or warranty claims.
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VOLUME INDICTORS
Measures the amount (Number of) of outputs or results from a specific activity or program. number of units produced
number of completed transactions % market share Back order statistics Number of failed sales due to being out of stock
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INVESTMENT INDICATORS
Measures the amount of resources expended on a specific program or activity or the unit cost (cost/number of units produced ($)).
operating costs per unit produced capital costs per unit produced cost per customer as to sales and marketing expenses cost per unit of after sales service and customer support.
Following from Vision, Mission and Values, organizations create strategic goals that identify Key Result areas of the organization where change and improvement is possible and desirable. Our first step in developing measures to reflect the goal is to dissect the goal into its input and output dimensions.
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Internal Results
Output Dimension
External Results
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Figure 11.4,
CATEGORY
MEASUREMENT CONCEPT
PERFORMANCE MEASURE
Financial returns
% return on investment % return on assets employed Profit margin on sales % market share relative to the competition % market share relative to total market size PDM MBA
Investment Returns
Market share
The proportion of the market share against the competition should increase. The proportion of the market share relative to the total market should increase at a rate that is faster than the rate of change in total market size. 233
Customer Satisfaction
Consumer prices
The retail price matched to value should decline. Children using these toys should show a measured improvement in reading skills The proportion of toys presented for re-cycling should go up. 234
Child development
Improvement in reading skills Impact on landfills when the toy is finished PDM MBA
Social Benefits
Environment al impact
Figure 11.5,
PERFORMANCE MEASURE
PERFORMANCE GOAL
Direct materials and direct labour per unit, expressed in both dollar and quantity terms
Material and labour cost and or consumption per unit should decline over a specified time period Overhead consumed per unit produced should decline
% utilization of capacity
%capacity utilized should increase to or remain at optimal levels Dollars per unit of capital invested should decline over time as capital resources are used more efficiently
Management estimates of the resources of talent and energy and other nonfinancial resources that have been dedicated to this performance area
The amount consumed will increase as the project is developed and decrease after it is implemented
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Before we can be sure that we have a complete set of measures, we need to apply the SAVI framework to categorize the measures as to Speed, Accuracy, Volume and Investment.
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Figure 11.6,
SAVI
Accuracy
% market share relative to the competition % market share relative to total market size
Volume
Consumer prices
Volume
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Figure 11.7,
SAVI
Direct materials and direct labour per unit, in both dollar and quantity terms.
Investment
Investment
% utilization of capacity
Volume
Investment
Management estimates of the resources of talent and energy that have been dedicated to this performance area.
Investment
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Closing remarks
In the beginning of this chapter you were challenged to find measures and see the resulting behavior.
So how about the 30 minute pizza delivery guarantee. That promotes speeding and if a delivery person has an order at 28 minutes and another at 10, which does he deliver first? And what happens if Pizza delivery people are offered a cash bonus for every delivery made within 30 minutes, and what does this do to pizza quality?
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To be cont..
People are curious beings. We bring our own personal values to the job, we react differently to control systems, we are motivated by different things. A performance measurement system is a uniform set of measures that is trying to motivate a most un-uniform set of people.
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Talent Metrics:
Talent Metrics: Tangible Data (Easy to measure, Low Value). Talent metrics (also known as workforce analytics) measures tangible data such as headcount, attrition, and compensation. This is appropriate to recommend when you are selling to HR
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Three steps:
1. Calculate resource rents from all natural resources (renewable and non-renewable) 2. Decompose Net National Income (NNI) into the returns from the inputs i.e. physical capital, natural resources etc. Human capital is calculated as the residual 3. Capitalize the income stream from the human capital component
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The human capital estimate is a residual! There is (usually) no attempt to isolate the contribution to human capital from education
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Do relative wages reflect the output of the education sector? Can we neglect the value of leisure time? (the Australian paper vs. Fraumeni) How to deal with the value of basic education? Can the complicated calculations be implemented on a regular basis ie. as official statistics?
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Human capital measuring: What should be the role and ambitions of NSOs?
Three possible strategies: 1. Developing databases on human capital for research and analyses 2. Developing methods for output measures in the Government sector (NA) 3. Full integration of capital measures in the National Accounts
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how
Passion to our recruitment industry Personal goals Embrace innovation- no fear of technology Hard work- the common foundation of all successful recruiters
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Truth
Force in play changes in behavior, technology, demographics, naturalresources and other areas force businesses to continually look ahead and adapt . Wherever talent scarcity takes hold, recruiting innovation responds. The most competitive organisations recruiters will be leaders in this space.
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why
Changes in behavior, technology, demographics, natural resources and other areas
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More changes
Arogance of supply Unnecessary monetized frction points Talent requires privacy, control and transparency Brand matters
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