TALENT MANAGEMENT

Introduction

What is Talent?
Talent is the sum of person's abilities O his or her intrinsic gifts, O attitude, O character, O skills, O creativity, O knowledge, O ability to learn O experience, and grow, to O intelligence, make decisions O judgment,

O Talents in the company are individuals, who

have demonstrated superior accomplishments, have inspired others to attain superior accomplishments, and who embody the core competencies and values of the organization. O Talents are very special,high-performing, high-potential individuals and are vital to company's future success.

What is Talent Management?

O The process of attracting, recruiting,

developing and retaining talented employees

O

Popularized by the book War for Talent by McKinsey & Company.

O Purpose :

to ensure that the right supply of talented workforce is ready to realize the strategic goals of the organization both today and in the future

Talent Management System

Systemic view of talent has five elements :
O Need the business need derived from the business O O O O

model and competitive issues. Data collection the fundamental data and intelligence critical for good talent decisions. Planning people/talent planning guided by data analysis. Activities the conversion of plans into integrated sets of activities. Results costs, measures and effectiveness criteria to judge the value and impacts of TM.

Process of Talent Management

O Identifying talent needs,
O Making company talent oriented, O Hiring employees from outside of

company, O Discovering talents in the company, O Training and developing, O Motivating, O Retaining talents, O Talent evaluation.

People decisions are the most difficult decisions in organisations. The ability to make the right decisions about people represents the most reliable source of competitive advantage because few organisations have it Peter Drucker

Objective
O Study the talent management system in

an Indian Organization.