Talent Management : Recruitment Selection & Succession Planning

HRM CORE SYSTEM Manpower Planning Compensation -Salary & Benefits -Increases & Incentives Recruitment & Selection Orientation Performance Management Exit Training & Development Human Resource Flow Information Flow .

. Productivity etc) Adapted from Beer et al. Motivation. [Harvard µmap of HRM territory].HRM Analytical Framework Internal Context HRM System Stakeholder Interests yFit and Flexibility (contextual fit & flexibility to change) Employee Outcomes yEmployment Contract yPsychological Contract (Employment/Employability) Organizational Outcomes External Context yHuman Capital Readiness & Performance (Ability. . (1984).

Tale Of Two Markets ‡ Internal Labor Markets (Make) ± ± ± ± Advancement: Tournaments Organizational Commitment Cradle to Grave Contract Career Development: Organizational Responsibility ‡ External or Open Labor Market (Buy) ± ± ± ± Advancement: Job Hopping Career or Professional Commitment Boundary less Careers Career Development: Individual Responsibility .

Attitudes Internal Skill Building Firm Specific Developmental Behavior/Process oriented Job / Seniority based Internal Equity Very Low. Slightly Higher at entry Prospector Innovation. Flexibility. Loose work planning External Labor Market External Supply Chain management Acquire (Buy) Transactional Professional Commitment Weak All Levels. detailed work planning Internal Labor Market Internal Succession Planning Build (Make) Relational Organizational Commitment Strong Entry level.Career Systems and Business Strategy HRM System Work Flow Defender Efficient production. job descriptions. control emphasis. broad job classes. Skills External Skill Acquisition General Management Control Oriented Outcome Based Performance Based External Equity Comparatively Higher Career Path Basic HRM Strategy Psychological Contract Organizational Culture Recruitment/Selection Training & Development PMS Compensation Attrition .

HRM Customization HI Alliance Collaborative HR Make Commitment Based HR Uniqueness Contract Compliance Based HR Buy Market Based HR Lo Lo Strategic Value Hi Source: Lepak & Snell (1999) .

Definition :Succession Planning ‡ Ascertaining the demand supply gap for replacements of key positions. ‡ For organization it may be succession planning (SP) but for individual it is career planning and management (CP). and developing human resources to fill up the gap. .

Recruitment & Selection ‡ Realistic Job Previews ± Screening & Signaling ‡ Hiring for Attitudes or Behaviors ± Competency Maps ± Reliable and Valid Selection Procedures ± Clarification of Psychological Contract ‡ Socialization ‡ Mentors .

Career Development Decisions PerformancePotential Matrix HI Potential Problem Children Star Laggards Solid citizens Lo Lo Performance Hi .

teams. 360 degree feedback sources. Performance on projects. Mentor¶s and coaches. Assessment centers. assignments.Sources of performance information ‡ ‡ ‡ ‡ ‡ Performance appraisals. .

‡ Tournaments ± Initial career growth history has impact on later career growth. ± Pygmalion effect. . ‡ Fast Track Careers. ± Some more methods to develop: Coaching. ± Special assignments. job rotation. ± High profile mentors have been found to influence protégés career growth positively. Understudies. Mentors.Promotion policies ‡ Up and Out Policies. shadow board of directors.

Career Development Issues ‡ Fast Track ± Burnout ± Jealousy ± Undeveloped People Skills ‡ ‡ ‡ ‡ Plateau Poor Performers Dual Career Couples Retention ± Golden Handcuffs vs Golden handshakes ± Job Redesign ± Social ties .

. ± Act on your commitment (Emotional competencies are not optional). ± Deepen 360 deg feedback. ± Cultivate informal networks.Sometimes fast is too fast? ‡ Young managers tend to be excellent in technical skills but often lack in people management skills. ± Interrupt the ascent. ± Institutionalize personal development.

± General Purpose Training S=B (e. ± S: Additional Salary needs to be paid after trg.Where should organizations put there training money? ‡ Human Capital Theory ‡ Basic Equation : Net benefit = (B-S)-C ± B: Gross Benefit accrued to Firm due to trg. OJT). ‡ Individual ± Enhances Employability ‡ S=0 and S=B Cases ± Enhances Individual Performance and Rewards ± Enhances Employee Org Commitment ‡ Employee Tenure Post Training . ± C: Cost of trg. Leadership skill).g.g. ‡ Two cases ± Firm Specific Training S=0 (e.

Retention strategies ‡ ‡ ‡ ‡ ‡ ‡ Paying for skills Deferred compensation Job design and customization Social ties Location Hiring. .

Improve ROI in employee development.Talent Management in 21st century ‡ Additional principles: ± ± ± ± Make and Buy to Manage risk. Adapt to uncertainty in demand. ‡ (Refer reading) . Preserve investment by balancing employee and employer interest.

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