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Talent

Management
Presented By:
Nabendu Paul
M120006MS
To Understand
 Meaning of Talent & Talent Management
 Evolution of Talent Management
 Process of Talent Management
 Emphasis on Talent Management
 Nine Best Practices
 Its Strategic Importance
 Conclusion
What is Talent?
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

• The ability, competency and power of


employees within an organization.
• The concept is not restricted to recruiting but
also to exploration, development, transition
according to the culture of the organization.
• It is a continuous process that involves sourcing,
hiring, developing, retaining and promoting them
while meeting the organization’s requirements
simultaneously.
 .
Evolution
Process

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Emphasis on TM
• Demonstrated relationship between better
talent and better business performance.
• Rapidly increasing source of value
creation.
• Helps in creativity, innovation and value
creation in the dynamic and complex
environment.
• Changes of Employee Expectation.

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Nine Best Practices
• Start with the end in mind.
• Talent management professionals need to
move from a seat at the table to setting the
table.
• You must know what you’re looking for—
the role of Success Profiles.
• The talent pipeline is only as strong as its
weakest link.

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Nine Best Practices
• Talent Management is not a democracy.
• Potential, performance and readiness are
not the same thing.
• Putting the right people in the right jobs.
• More about the “hows” than the “whats.”

• Software does not equal talent


management.

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Strategic Importance
• Consideration to the revenue, innovation and
organization effectiveness.
• Cost of lost opportunities, downtime and the replacement
costs of losing critical talent must be analyzed.
• Consequences of wrong kind of managers in the leaders
top management position.
• Investment in talent management is not short term.
• Talent Management is strategic and holistic approach to
both HR and business planning.
Conclusion

• Talent Management" has become one of the most


important buzzwords in Corporate HR and training today.
Organizations know that they must have the best talent
in order to succeed in the hypercompetitive and
increasingly complex global economy. They must
manage talent as a critical resource to achieve the best
possible results in the long run.
THANK YOU