TALENT MANAGEMENT

DEFINING TALENT
‘ Talent consists of those individuals who can make a difference to
organisational performance, either through their immediate
contribution or in the longer term by demonstrating the highest
levels of potential’
According to McKinsey, talent is the sum of
 a person’s abilities,
 his or her intrinsic gifts,
 skills, knowledge, experience ,
 intelligence,
 judgment, attitude, character,drive,
 his or her ability to learn and grow
TALENT MANAGEMENT

A conscious, 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
PURPOSE OF TM
 To compete effectively in a complex and dynamic environment to
achieve sustainable growth

 To develop leaders for tomorrow from within an organization

 To maximize employee performance as a unique source of

competitive advantage

 To empower employees:
 Cut down on high turnover rates
 Reduce the cost of constantly hiring new people to train
 BENEFITS OF TM
 Right Person in the right Job: Through a proper ascertainment of people skills and
strengths, people decisions gain a strategic agenda.The skill or competency mapping allows
you to take stock of skill inventories lying with the organization.This is especially
important both from the perspective of the organization as well as the employee because
the right person is deployed in the right position and employee productivity is increased.
Also since there is a
better alignment between an individual’s interests and his job profile the job satisfaction
is increased.

 Retaining the top talent: Despite changes in the global economy, attrition remains a
major concern of organizations. Retaining top talent is important to leadership and growth
in the marketplace. Organisations that fail to 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 and engage quality people. Employee growth in a
career has to 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.
CONTD…..
 Better Hiring: The quality of an organization is the quality of workforce it
possesses.The best way to have talent at the top is have talent at the bottom. No
wonder then talent management programs and trainings, hiring assessments have
become an integral aspect of HR processes nowadays.

 Understanding Employees Better: Employee assessments give deep insights to

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 a lot Job enrichment
process.

 Better professional development decisions: When an organization gets to

know who its high potential is, it becomes easier to invest in their professional
development. Since development calls for investment decisions towards learning,
training and development of the individual either for growth, succession planning,
performance management etc, an organization remains bothered where to make this
investment and talent management just make this easier for them.
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 and
development.
 Leadership and "high potential employee" development - specific
development programs for existing and future leaders.
 Performance management - specific processes that nurture and support
performance, including feedback/measurement.
 Workforce planning - planning for business and general changes, including the
older workforce and current/future skills shortages.
 Culture - development of a positive, progressive and high performance "way
of operating".
TM - A PROCESS
 PROCESS
1. Workforce Planning: Integrated with the business plan, this
process establishes workforce plans, hiring plans,
compensation budgets, and hiring targets for the year.

2. Recruiting: Through an integrated process of 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: by using the business plan, the

organization establishes processes to measure and manage
employees.
CONTD…..

5. Training and Performance Support: This is a critically

important function. Learning and development programs is
provided to all levels of the organisation.This function itself is
evolving into a continuous support function.

6. Succession Planning: as the organization evolves and changes,

there is a continuous need to move people into new
positions. Succession planning, a very important function, enables
managers and individuals to identify the right candidates for a
position. This function also must be aligned with the business
plan to understand and meet requirements for key positions 3-5
years out. While this is often a process reserved for managers and
executives, it is more commonly applied across the organization.
 CONTD…..
7. Compensation and Benefits: This is an integral part of people
management. Here organizations try to tie the compensation plan
directly to performance management so that compensation, incentives,
and benefits align with business goals and business execution.

8. Critical Skills Gap Analysis: This is a process we identify as an

important, often overlooked function in many industries and
organizations. While often done on a project basis, it can be "business-
critical." For example, today industries like the Federal
Government, Utilities,Telecommunications, 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? We call this "critical talent management" and many
organizations are going through this now.
SOME TM SYSTEMS

Talent Edge - Infosys Peoplesoft - Oracle

TALENT PROGRAMMES OF TCS

 ILP-Initial learning programme

 CLP-Continuous learning programme
 LDP-Leadership developing programme
 FLI-Foreign language initiative workplace learning .

An organization would follow it in three main steps:

1. Finding the right talent
2. Hiring that particular talent
3. Making sure that hired talent stays for a longer period of time
FINDING THE RIGHT TALENT

 Campus Hire – Sustaining Leadership Position

 94.1% Day 1 slots in campuses across India
 No. of Institutes Accredited:433
 RETAINING

 Performance Driven Culture

- Recognize high performers & high potential employees

 Meet Employee Aspirations

- Challenging Roles

 Enhance Employee Connect

- Empowered organization units
 ELEMENTS OF EFFECTIVE TM
 Recruiting candidates who are talented and competent to support the organisation’s
goals.

 An active dialogue between managers and employees to determine which employees desire
to grow, which are happy to be at their current levels and which are at risk of leaving and
their reasons;

 An employee 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 progress in
the organization

 A measurement 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.
RECENT TRENDS IN TM
 TalentWar

 Technology

 Increase in Employer of Choice Initiatives

 Promoting TalentInternally

 Population
 RECENT TRENDS IN TM
 Talent War: Finding and retaining the best talent is the most difficult aspect
of HR management. HR survey consultancies are one in their view that
organizations globally are facing a dearth of talented employees and it’s
often more difficult to retain them. Further research has also shown that
there is clear link between talent issues and overall productivity.

 Technology and Talent Management: Technology is increasingly

getting introduced into people development. Online employee portals have
become common place in organizations to offer easy access to employees to
various benefits and schemes.In addition employees can also manage their
careers through these portals and it also helps organizations understand
their employees better.
CONTD…..
 Talent Management to rescue HR : HR has been 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’s perceived value as an employer as helps improve its
brand value in the eyes of its consumer. Most importantly it helps
it attract the right talent.
 CONTD…..
 Promoting Talent Internally: An individual is hired, when there is a 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
is employee retention. An enabled 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% of Europe’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 a disturbing 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!