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Talent Acquisition and Retention-PPT

Talent Acquisition and Retention-PPT

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Published by Swati Bagaria

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Published by: Swati Bagaria on May 15, 2012
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06/10/2013

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Dr. Radha.R M.Com.,M.Phil.,ACS.,Ph.d.

Ramaiah Institute of Management Studies, Bangalore

TALENT ACQUISITION AND RETENTION

possess required competencies. and selecting highly talented individuals who align with the business strategy.Talent Acquisition  Talent Acquisition is the process of attracting. finding. and fit in the organization’s culture who will integrate smoothly and productively into the organization. .

Recruitment  Recruitment is just the process of staffing  Talent acquisition is the process of hiring leaders .Talent Acquisition Vs.

Talent Acquisition and Retention  Retention is all about keeping good people and how you manage them. .

Need for the study  IT industry and hospitality industry suffer from high attrition and employee turnover  The employers often complain that the employees leave the organisation for a better salary even if the hike is very nominal  Is money alone the retention driver?  Are there any other drivers to retain the employees? .

.Objectives of the Study  To study the reasons for exit of employees from the Organizations.  To study retention strategies used by the organizations to retain Employee Talent.

graphs. pie charts . deviations.Research Methodology  Sampling Technique-Simple Random     Sampling Sample units -Private hospitality organisation in Bangalore Sample Size -52 respondents comprising of both male and female respondents Primary data -Through structured questionnaire and interview schedules Analysis of data-Simple percentages. mean score.

They would not hesitate to leave the job if the boss was a problem No growth opportunity/lack of promotion (60%) For higher Salary (80%) For Higher education (26%) Misguidance by the company (30%) Policies and procedures are not conducive (43%) No personal life (35%) Physical strains (33%) Uneasy relationship with peers or managers (28%) .Why people are leaving?  Almost all the respondents agreed that good boss         subordinate relationship is vital.

.       functionally-incompetent boss . 23% said their boss blamed others to cover-up personal mistakes or minimize embarrassment. 27% reported their boss made negative comments about them to other employees or managers. 31% said their boss gave them the "silent treatment" during the past year. 24% indicated their boss invaded their privacy.Bad Boss Virus  The respondents classified their bosses as boss from hell. 37% indicated their boss failed to give credit when due. emotionally-incompetent boss and positional boss 39% of respondents said their boss failed to keep promises.

Retention Drivers-Employee’s Perspective 60 50 40 30 20 10 0 .

flexibility. skills. training. customers) . recognition)  Personal (quality of work.Retention Drivers-Employer’s Perspective  Work environment (location. opportunities)  Relationships(owners. peers. variety. options. mentors. culture)  Financial (base salary. benefits. bonuses. managers. selfleadership. incentive.

Findings of the Research  The findings of the research indicate that Challenging and exciting work Career advancement and growth Great working environment and Fair compensation Are important from the employee’s perspective .

Findings of the Research  Work environment  Financial base  Relationships Are important from the employer’s perspective The employer’s of today have very well understood the requirements of the employees .

What should be done?  Hire the Right People  Set Clear Expectations and clarify the expectations to the employees  Fight attrition with smart training  Proper Rewarding by recognizing the efforts of the Employees  Imbibe Pride in ones work (Improving the brand image of the organisation) .

Recipe for Retention R –EMUNERATE COMPETITIVELY E -NCOURAGEMENT AND EXPECTATIONS T – RAINING AND DEVELOPMENT A -NNUAL REVIEW CYCLES I .NFORM AND INVOLVE N -URTURE .

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