HRD Research Paper on Talent Management

Submitted By: Princy Singh Richa Sharma Rohit Anand Shalini Tiwari

skills and competency management. particularly the HR Department. as well as human resources measures and metrics. M & A activities. Talent management implies recognizing a person's inherent skills. redeployment. learning management. talent management helps companies with employer of choice initiatives. to place candidates with prudence and caution. performance management. It is the job of the Management. downsizing. A wrong fit will result in further hiring. but rather must be practiced at all levels of the organization. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. career transitions. Additionally. It cannot be left solely to the human resources department to attract and retain employees. Introduction Talent management is a process that emerged in the 1990s and continues to be adopted. Talent management is an umbrella phrase which includes employee recruitment. on ± boarding. retention. Effective talent management enables organizations to successfully complete in an increasingly global economy by effectively identifying and harnessing the human power within. 2|Page . organizational change. regulatory compliances issues. succession planning. training. career development processes. as more companies come to realize that their employees¶ talents and skills drive their business success.Abstract This paper explores the usefulness of analyzing an organizational performance on the bases of Talent Management. personality and offering him a matching job. traits. internal career centers and internal career pathing. A talent management system must be worked into the business strategy and implemented in daily processes throughout the company as a whole. re-training and other wasteful activities.

Talent can also be defined as a combination of individual¶s skills and competencies which he or she posses. and the effects of putting talent to use rarely translate into actual achievements. a better linkage between individuals' efforts and business goals.Talent Management is beneficial to both the organization and the employees. feeling or behavior that can be productively applied. reduced turnover. in a way. career development. sustained motivation and job satisfaction. A talented employee is a person who brings something into an organization that. often unexposed in its plans and strategy. 3|Page . donating their talent to other organization only temporarily. The qualities of a talented persons competency profile are in accordance with the needs of the organization at an accepted level. is in excess in that organization. That ³thing´ does not lend it self to measurement. increased bench strength and a better fit between people's jobs and skills. their action is deferred overtime and the effects are cumulative and synergistic." The emphasis here is on the word "recurring. but there is that ³thing´ that makes the person standout. Typically." Talents are basically the behaviors we find our self doing often. commitment of valued employees. The organization benefits from: Increased productivity and capability. Employees benefit from: Higher motivation and commitment. because to ascertain moment the organization is unaware of it. The employee is talented regardless of the organization. increased knowledge about and contribution to company goals. Talent Talent can be defined as "a recurring pattern of thought.

a better linkage between individuals' efforts and business goals. sustained Talent Management involves individual and organizational development in response to a changing and complex operating environment. Talent Management is beneficial to both the organization and the employees. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. For 4|Page . increased bench strength and a better fit between people's jobs and skills. The organization benefits from: Increased productivity and capability. the issue with most of the organizations is that they spend huge amount of money and great effort for attracting employees to their company. people oriented organization culture. dynamic process assessing the current managerial talent present in an organization so that action plans may be created to develop each manager to their full work potential. It is the job of the Management. A wrong fit will result in further hiring. return on investment is also not attained properly. deliberate approach undertaken to attract. increased knowledge about and contribution to company goals. It includes the creation and maintenance of a supportive. career development. Talent Management implies recognizing a person's inherent skills. reduced turnover. develop and retain people with the aptitude and abilities to meet current and future organizational needs. but spend little time into retaining and developing talent.e. Now-a-days.Talent Management Talent Management can be defined as the process of developing and integrating new workers. developing and retaining current workers. The Talent Management Process (TM) can also be defined as an ongoing. and attracting highly skilled workers to a company. re-training and other wasteful activities. It can also be defined as a conscious. The concept of ³Talent management´ emerged in 1990s and the term talent management was coined by David Watkins of Softscape. to place candidates with prudence and caution. traits. As a result the ROI i. particularly the HR Department. personality and offering him a matching job. commitment of valued employees. Employees benefit from: Higher motivation and commitment.

The business strategy must include responsibilities for line managers to develop the skills of their immediate subordinates. attracting and recruiting qualified candidates with competitive backgrounds Managing and defining competitive salaries Training and development opportunities Performance management processes Retention programs Promotion and transitioning 5|Page . including the following: y y y y y y Sourcing. Companies that focus on developing their talent integrate plans and processes to track and manage their employee talent. The practice of attracting and retaining employees should be practiced at all levels of the organization along with the human resource department. it must be worked into the business strategy and implemented in daily processes throughout the company as a whole.an effective talent management system.

y Retention: Developing and implementing practices that reward and support employees. y Employee development: Ensuring continuous informal and formal learning and development. y Culture: Development of a positive. y Workforce planning: Planning for business and general changes. y Performance management: Specific processes that nurture and support performance. organizations adopting a TM approach will focus on coordinating and integrating: y Recruitment: Ensuring the right people are attracted to the organization. progressive and high performance "way of operating". Quite often. 6|Page . including feedback/measurement.IMPORTANCE OF TALENT MANAGEMENT Talent Management (TM) brings together a number of important human resources (HR) and management initiatives. y Leadership and "high potential employee ³development: Specific development programs for existing future leaders. including the older workforce and current/future skills shortages.

´ Globalization presents more than new markets. ³In fact. Talent management involves individual and organizational development in response to a changing and complex operating environment. However. working remotely. and how companies develop internal cultures focused on highperformance. It also means new challenges in how we manage our talent. today¶s organization must be able to adapt to new. many companies have felt the need to cut expenses. operating in flatter managerial hierarchies. This should be the ideal environment to execute a talent management system as a means of optimizing the performance of each employee and the organization. In current economic conditions. Organizations are composed differently than just a decade ago ± people are geographically dispersed. These are just a few of the challenging questions being asked about talent in today¶s workforce. It includes the creation and maintenance of a supportive. within many companies the concept of human capital management has just begun to develop. shifting workforce dynamics. how employees choose to communicate and collaborate. To be successful. and faced with massive amounts of constantly changing information. how HR organizations keep leadership pipelines healthy. only 5 percent of organizations say they have a clear talent management strategy and operational programs in place today. 7|Page . people oriented organization culture.Application of Talent Management Human capital is the most valuable asset in the business and one that is increasingly being treated as a strategic imperative for long-term organizational success.

Talent Management Process A strategic talent management plan includes a process for: y y y y y Identifying Organizational Goals/Priorities Identifying Organizational Drivers and Challenges Identifying Gaps Defining HR Priorities and Goals Articulating the Talent Management Processes/Functions Your Organization Currently Performs y Measuring the Results and Communicating Successes/Contributions 8|Page .

retaining. a collaborative team 9|Page . higher pay is not the main or only criterion. growth. opportunity to make a difference. effective leadership. Businesses which are not paying attention to these processes will likely find themselves facing higher turnover and greater difficulty in recruiting the talent that they need. Challenge. why would someone want to choose one over another candidate. Attracting the right talent Given comparable job opportunities. Contrary to popular belief. developing and transitioning talent.Talent Management Cycle The ³Talent Management Cycle´. this strategy addresses four key phases that an employer needs to address: attracting. benefits.

The first step is reinforcing to the new employee that he or she has made the right decision in choosing to work for you. They are necessities for both the employee and the organization. employee focus groups.environment and family-friendly policies are all critical considerations for today¶s candidates. in-house or external seminars. organizations will need to identify and continue to cultivate those unique aspects of their culture that motivate employees to stay. Through employee satisfaction surveys. once their candidates are hired. processes and policies that will best reflect the specific retention needs of their own employees. senior management and their human resource strategic partners can design programs. Retaining talent Organizations should try to ensure that they are creating an environment that will encourage valuable talent to stay. do little to implement retention strategies right away. professional memberships and conferences. Businesses must take a much-needed look at the career aspirations of their talent pool as well as assess needed competencies within the organization and respond to them with frequent opportunities for employee development and growth. 10 | P a g e . and other sources of input. and throughout the recruitment and selection process. Developing talent ³Grow me. A well-designed orientation and on-boarding process can help to reinforce that commitment. and providing coaching or mentoring support. Organizations should be rigorous in designing a selection process that will help them in finding the best match. These can come in the form of continuing education. First and foremost. Too many organizations. develop me´ is the cry of the new generation of employees. Satisfying the learning appetite and leveraging employee knowledge to maintain that competitive edge go hand-in-hand. candidates should be treated by organizations as would be the best customer from the very first point of contact. Skill acquisition and continual learning are not just perks. For the long view. Top notch employees will want to work for an organization that sets high standards in its employment process.

In most cases. Internally.including lateral moves and traditional upward promotions ± will mark the beginning of a new cycle for those employees. reorganizing. Externally. this reinforces the ³attraction´ aspect and signals the beginning of a new talent management cycle. but serves to uphold the positive reputation of the employer within the community.Transitioning talent The final phase of the talent management cycle is transitioning: up. transitioning talent can mean exiting the organization through downsizing. With ongoing recruiting. This is not only of practical assistance to the outgoing employees. over or out. terminations or retirement. 11 | P a g e . career and succession planning . the employer will want to support outgoing employees by providing them with career transition support services.

but spend little time into retaining and developing talent. HR magazine. reviews concerned magazines. 2007]. June. HR leaders work closely with senior management to attract. 12 | P a g e . developing and integrating new workers and attracting highly skilled workers to work for a company. Lockwood In this article.e. developing and integrating new workers and attracting highly skilled workers to work for a company Any Organization needs to have a vision and a well defined strategy on hiring for the future. Now days the issue with most of the organizations is that they spend huge amount of money and great effort for attracting employees to their company. return on investment is also not attained properly and organizations are facing problems. They should have the right strategies to attract and retain the best available talent for which a number of measures for talent management are required. Talent Management: driver for organizational success. hire.Literature review A detailed survey of the concerned literature has been carried out based on various journals. As a result the ROI i. the author has focused that in today's global economy. In the role of business partner. develop and retain talent. case studies and internet are presented below: Talent Management refers to the process of developing and retaining current employees. 2006 by Nancy R. companies must continually invest in human capital. Emphasis should be paid on initiatives that can be put in place to help organization to retain and nurture the talent [PANDIT. Talent management refers to the process of developing and retaining current employees. Yet the skills shortage presents both socio-economic and cultural challenges as talent crosses borders.

Other article is ³Talent management ³ by Sandeep V . challenging and highly competitive work environment and a great future. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. A wrong fit will result in further hiring. traits. So proper manpower planning is to be done which is lacking in most of the organizations. Talent management implies recognizing a person's inherent skills. perks. So. This is giving a severe headache to the top management in general and HR department in particular. Highly demanding business environment makes it imperative for the organizations to build competence in the form of superior intellectual capital. the aging workforce and increasing global mobility.that can provide them competitiveness in the long run. It is agreed by almost all CEOs of big companies that it is the human resource . It is the job of the Management. to place candidates with prudence and caution. the author has focused on the fact that despite providing great work environment to their people .a talented one .Thus. in view of. In addition. an integrated approach to talent management offers a pathway toward sustaining outstanding business results. they will be positively positioned to succeed in a highly competitive marketplace. the attrition rate of the employees of the biggest companies is still considerable.in this article. employee engagement and leadership development have a significant impact on talent retention. personality and offering him a matching job. re-training and other wasteful activities. So it is the duty of the HR department to nurture a brigade of talented workforce. By doing so. 13 | P a g e . overseas assignments. particularly the HR Department. Taking these factors into consideration. organizational culture. global supply chains. which can win them the war in the business field and proper strategies should be maintenance by employees in order to attract and retain the best talent in their organization. this has added to the functions of the HR department a new function ±µTalent Management¶.good salary. workforce trends such as shifting demographics. forward-looking organizations must rethink their approach to talent management to best harness talent.

Rothwell: "Rothwell ignites the imagination. and in extreme situations. total burnouts. proper manpower planning is lacking. If they go parallel. and offers practical strategies any organization can use to effectively develop. i. the main reasons for attrition in this sector are as follows : Gap between organizational values and goals and the personal values and goals is one of the major reasons of the attrition rates. Most companies believe and act as though µtalent¶ is a scarce commodity in their organizations and typically use the term to describe a tiny minority of their workforce. It also leads to other health related problems. proper people are not placed at proper place. there is no way both would be satisfied and inevitably. expands the possibilities. retain and utilize talent for the benefit of an organization and enter the fluid. Dhesi: 1) In this article.The Strategic Development of Talent by William J. flexible future. 14 | P a g e . the author has focused on the fact that most organizations make in talent management is the seemingly relentless focus on a few selected ones only.e. Failure on the part of the management to provide such an environment will result in a talented employee leaving the organization.e." Bucking conventional talent management wisdom. 2) According to an article on talent management in an organization. the organization would lose out on a talented employee. Employees in the knowledge era demand creative and a democratic work environment. by Arvinder S.  The competitive world has made sure that there is high work pressure on the employees of any organization. This means that the companies are not managing their talent well i. Managers at all levels will cheer the sanity Rothwell suggests. This has led to psychological problems like stress.  Working environment is another major factor.

There is no shortage for organizations who are looking for talented employees and who are ready to shell out a hefty salary for a talented person.  The professionals have different aspirations at different times of their career. More seasoned professionals look for learning opportunities. they have good salary and foreign assignments. Next on the list is working on cutting edge technology.  Not taking proper care during the recruitment and selection process and not taking proper care to fit the right person to the right job also breeds dissatisfaction among the employees.  Bad or opaque policies from management on issues of succession planning and promotion. appointments for senior positions also is a major factor which makes the organization lose out on the talented employees. 15 | P a g e . Movement for higher salary is also common among the younger professionals. So employees tend to move to those organizations which provide them with means to fulfill their aspirations. higher posts and overseas assignments are also major factors in the attrition rates. Other lures like better job opportunities. During the initial years.

gymnasium. multidisciplinary field familiarizing technique.e. their duties and responsibilities but a significant percent of employees are unaware about the same. vision. So the organisation should focus on these issues at the time of orientation. Employee awareness The responses obtained from the survey shows that the employees of the companies are aware about their organisations mission. they are satisfied with the working environment (superior subordinate relationship. Apart from this the employees are provided with better work condition like recreation facilities. short term assignments in India/abroad.Conclusions Talent identification Talent is identified in the companies mainly through qualifications. etc). but a significant percent of employees are not satisfied with the promotion policies of the organization as well as the transparency of promotion policies of an organization. etc. etc. The employees of the company are satisfied with the personnel policies of the organisation and they consider the organization as a good place to work as compared to other organisations. Organizational Environment The responses obtained from the survey shows that the company provides good organisational environment to their employees in terms of superior subordinate relationship. goals. through feedback of colleagues as well as superiors and through results / performance. yoga. They are well aware about their job description i. 16 | P a g e . etc. mentoring. Talent management initiatives Organization has some of the talent management initiatives in place like coaching.

are at par with other competitors. Organization culture In an organization.Employee benefits The company provides good remuneration package to their employees. there is the need of Creating a culture that makes individuals want to join and stay with the organization and creating an environment/culture where employee¶s ideas are listened and valued. 17 | P a g e . It inculcates a sense of belongingness within the employees for the organization which will be beneficial for both the employees as well as the organization. Employees are satisfied with the remuneration package and other welfare facilities provided by the company to them. Employee motivation Top performing employees should be given rewards and recognition in order to boost their morale and encourage them to make them feel that their efforts are being recognized by the organization. etc. Recruitment process Most of the employees are of the opinion that candidate¶s skills should be assessed earlier in the hiring process and vacancies should be identified at the earlier stages that will be created as the company advances and expands. loans. Apart from this. child care. Employee retention Most of the employees are of the opinion that stock option to employees is a good way to retain talent. the welfare facilities provided by the company to their employees like health care.

These are some of the measures that should be taken into account to hire and retain talent in the organization. Good Working Environment It has to be accepted by the organizations that highly talented persons make their own rules. Quality people are no longer available in plenty. It would be beneficial for an organization to recruit young people and nurture them. They have to be provided with a democratic and a stimulating work environment. This will also benefit the organization in the form of highly talented workforce. Hire the Right People Proper care must be taken while hiring the people itself. Providing Learning Opportunities Employees must be provided with continuous learning opportunities on & off work field through management development Programmes & distance learning Programmes. The organizational rules must be flexible enough to provide them with freedom to carry out their part of task to their liking. Opportunities should also be provided to the employees to achieve their personal goals. as long as the task is achieved. Questions to be asked at this stage are: Whether the person has the requisite skills needed for the job? Whether the person's values and goals match with those of organizations? In short. than to substitute by hiring from other organizations so that new blood is infused in the organization with new ideas and skills. It is the demand of the time that business leaders elevate management of talent to a burning corporate priority. 18 | P a g e . 2. care must be taken to fit the right person to the right job. talent is in the driving seat. in the era of technology and knowledge. One who possesses it dictates. to be efficient and competitive in this highly competitive world: 1.Recommendation It is now proved beyond doubt that. easily replaceable and relatively inexpensive . 3.

so that they can come back refreshed to work and with increased energy. so that they are satisfied and work to their fullest capability. shared service models and production alliances.4. fun activities with in the work area will also reduce the work life stress of the employees and develop camaraderie among the workers and result in a good working environment. Recognition of Merit It is highly motivating for any person if his talent is recognized & is suitably rewarded. Promotions & incentives based on performance are another way of doing it. Work with specialists who can help you assess the operational and financial impact of environmental issues and decommissioning liabilities. They must also be encouraged to pursue their interests which are also a good way of reducing work environment stress. Another way is by providing them with challenging projects. This will achieve two objectives-it makes employee feel that he is considered important & gets the work done in a efficient manner and brings out the best in the employee. entertain Programmes. such as infrastructure partnerships. so that they can de-stress themselves. Promises made during the hiring stage must be kept to build loyalty among the employees. 19 | P a g e . 5. Shielding from High Work Pressure If an organization has to make the most of the available talent. Recreation clubs. 6. they should be provided with adequate time to relax. 7. One way is providing them with salary commensurate with their performance. It is very important to provide them with holidays and all-expenses-paid trips. Unfulfilled expectations can breed dissatisfaction among the employees and make them either leave the organization or work below their productive level. Keep the Promises Talent cannot be motivated by fake attitudes and broken promises. Benchmarking of HR Programmes and policies against international standards They should look at innovative ways to enhance collaboration with industry peers.

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