TALENT MANAGEMENT

Parveen Rana Director VBS Group, www.vbscindia.com

Consider..

..at any one time 59% of employees will be open to working elsewhere
Parveen Rana Director VBS Group, www.vbscindia.com

What is Talent Management?

A set of processes that allow a company to increase value provided by their human capital.

Key processes
Goal alignment Candidate selection Performance management Employee development Rewards delivery Workforce is more: Suitable Engaged / Committed Flexible / Adaptive Productive
Align

Comply

Automate

Parveen Rana Director VBS Group, www.vbscindia.com

Characteristics Of Good Talent Management

Ownership and involvement Business objectives permeate every aspect of the system The system is measured in real business terms and results are acted upon Hire the right people. Acclimate new employees Discuss career interests with employees Identify developmental opportunities Identify training opportunities Offer appropriate rewards and recognition Help employees to advance Create a workplace that has meaning and purpose

Parveen Rana Director VBS Group, www.vbscindia.com

MANAGING TALENT EFFECTIVELY

Identify key roles Take an inventory of your talent management skills Measure the right things Set up a process-wide feedback

Parveen Rana Director VBS Group, www.vbscindia.com

The Develop-Deploy-Connect Model

Alignment: Connecting people to work that is motivating. Commitment: Providing coaching and mentoring. Capability: Developing critical skills to ensure success.
Parveen Rana Director VBS Group, www.vbscindia.com

Talent Management Process

Building Leadership Supply Requires an integrated Approach Which Addresses the Following Areas:

Acquiring talent

Assessing new and current talent

Developing talent

Transitioning Talent

Parveen Rana Director VBS Group, www.vbscindia.com

TALENT ACQUISTION
CORE CONCEPT
Get away from the 'fill in the box' thinking to one that is more pro-active And much closer to building the skill sets required to achieve business success. Key to success in talent acquisition is the unique way that you are able to tap into the 'top performers' who are not really looking for another job IMPORTANCE Understanding workforce demographics (current and future) Identifying economic issues impacting organizational sustainability

Identifying organizational and cultural issues impacting talent acquisition

Knowledge of industry trends and emerging issues
Parveen Rana Director VBS Group, www.vbscindia.com

TALENT ACQUISITION STRATEGIES

Strengthen Your Own Direct Reports Establish a talent Standard sharp difference between poor; average and excellent performance is creating a benchmark for evaluation and promotion. Influence People Decisions Far Down the Organization Drive a Simple, Probing review of Talent

Hold Managers Accountable for the strength of their talent pools

Poaching talent
Parveen Rana Director VBS Group, www.vbscindia.com

Old Mindset
A vague notion that People are our most important asset HR is responsible for people management Two days succession planning I work with the people I inherit

Parveen Rana Director VBS Group, www.vbscindia.com

New Mindset
A new conviction that talent leads to better corporate performance All managers are accountable Talent managers is a central part I take bold actions to build the talent pool I need

BALANCING INDIVIDUAL AND ORGANIZATIONAL NEEDS

Parveen Rana Director VBS Group, www.vbscindia.com

THE CHANGING CAREER PARADIGMS

OLD PARADIGMS Job Security Longitudinal Career Paths Job/Person Fit Organizational Loyalty Career Success Academic Degree Position/Title Full-Time Employment Retirement Single Jobs/Careers Change in jobs based on fear Promotion highly tenure based NEW PARADIGMS Employability Security Alternate Career Paths Person/Organization Fit Job/Task Loyalty Work/Family Balance Continuous Relearning Competencies/Development Contract Employment Career Sabbaticals Multiple Jobs/Careers Change in jobs based on growth Promotion highly performance based

Parveen Rana Director VBS Group, www.vbscindia.com

THE PSYCHOLOGICAL CONTRACT

The overall set of expectations held by an individual with respect to what he or she will contribute to the organization and what the organization will provide in return.

Contributions from the Individual Effort Ability Loyalty Skills Time Competencies

Inducements from the Organization Pay Job security Benefits Career opportunities Status Promotion opportunities

Parveen Rana Director VBS Group, www.vbscindia.com

CAREER MANAGEMENT PROCESS

STEP 1 INDIVIDUAL Who am I? (Career Stage, Path Preference, Political Style)

ASSESSMENT
STEP 2 INTERPERSONAL ASSESSMENT STEP 3 ORGANIZATIONAL ASSESSMENT STEP 4 ACTION PLANNING How do other see me? (Selfinsight, image, political style, personality) What are my options within the organization? (Knowledge of the organization, future trends, options, opportunities) How do I achieve my goals? (Motivation, confidence, goal setting, action planning)
Parveen Rana Director VBS Group, www.vbscindia.com

CAREER STAGE SCALE

ENTRY

DEVELOPMENT

BALANCED

EXPLORATION

Parveen Rana Director VBS Group, www.vbscindia.com

STAGES OF CAREER DEVELOPMENT

Stage 5: Late Career (ages 55retirement):

Stage 4: Midcareer (ages 4055):

Stage 3: Early Career (ages 2540):

Stage 2: Organizational Entry (ages 1825):

.

Stage 1: Preparation for Work (ages 025):

LEADERSHIP MANAGEMENT

Interpersonal Skills Communications Teamwork Flexibility Build appropriate relationships Leadership Abilities Visioning Process Coach and Train Peers and Subordinates Create and Lead Teams Implement Employee Involvement Strategies

Parveen Rana Director VBS Group, www.vbscindia.com

How Do You Develop Leaders?

Experience Job change/rotation Special projects and assignments Exposure and involvement in key business challenges Task forces, committees, change initiatives Job Performance feedback Executive coaching 360-degree feedback process Developmental assessment workshops

Formal Learning

Critical skill building training programs Transition training programs Key external training programs Self-directed learning initiatives
Parveen Rana Director VBS Group, www.vbscindia.com

Ascending Value

Feedback & Coaching

EXECUTIVE COACHING
Aimed at business executives in work environment Help to improve effectiveness in terms of leadership and decision making Difference between Personal and executive coaching
Goal setting is business oriented. Business leader can discuss weakness in confidential and safe environment

Focus can be on:

Leadership Training Financial Awareness Management Training Time Management Project Management Team Building

Parveen Rana Director VBS Group, www.vbscindia.com

TEAM BULIDING
It is the process of enabling that group of people to achieve that goal Group of people common objective high quality results , who wrok together and enjoy their work. Members should be valued and have sense of belonging. Indivuduals shoukd be given challenging tasks and assignments to achieve teams objective. five key issues to be considered in team building:
Interdependence Goal specification Cohesiveness Roles and Norms

Communication

Parveen Rana Director VBS Group, www.vbscindia.com

SUCCESSION PLANNING
Definition :a process by which one or more successors are identified for key posts (or groups of similar key posts), and career moves and/or development activities are planned for these successor. Targeted only to key leadership positions How Succession Planning Helps Understanding the organization's long-term goals and objectives Identifying the workforce's developmental needs. Determining workforce trends and predictions Benefits of Succession planning:
Better Retention Valuable training goals Increased preparation for leadership Greater employee satisfaction Enhanced commitment to work and workplace Improved corporate image
Parveen Rana Director VBS Group, www.vbscindia.com

TALENT RETENTION
FACTS Over 50% of the people recruited into an organization will leave within 2 years. 1 in 4 people recruited will leave within 6 months. Nearly 70% of organizations report that staff turnover has a negative impact. Nearly 70% of organizations report having difficulties in replacing staff. Approximately 50% of organizations experience regular problems with employee retention.

Parveen Rana Director VBS Group, www.vbscindia.com

Why is retention becoming one of the top issues in HR?

The enormous cost associated with staff turnover. The difficulties experienced in replacing people (on average positions go unfilled for over 9 weeks).

Despite advances in recruitment practices recruitment is still a less than perfect science each new recruit represents risk.
Costs associated with training. The overall impact on the organizations ability to meet the needs of its customers

TALENT RETENTION TOOLS

Career development opportunity Sense of accomplishment Job security Confidence in future Good compensation Recognition Fairly evaluating job performance

Make Your CEO Understand

War for talent Starts at the top

Affects shareholder value

Turnover costs money The workforce is diversifying Workforce planning and development are critical

Parveen Rana Director VBS Group, www.vbscindia.com

The Road Ahead..

Its Only The Strategy That Will Matter.

Parveen Rana Director VBS Group, www.vbscindia.com