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Presented By Aditya Sikder Kriti Upadhyay Odile J Soreng Pratibha Dinkar Rupali Saini
A conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs Talent management refers to the process of developing and integrating ,developing and retaining employees, and attracting highly talented people to work for the organisation µThe systematic attraction, identification, development, engagement/retention and deployment of those individuals with high potential who are of particular value to an organisation.¶ Talent management as a mission critical process that ensures organizations have the quantity and quality of people in place to meet their current and future business priorities
Talent Management : A cultural mindset, an inclusive change oriented approach to align business and talent needs, a collaborative effort to make people capabilities match organizational commitments
you will never fulfill the potential of your business. . Our job is to field the best players.´ .´ Bill Gates : ³ Take our twenty best people away from us and I can tell you that Microsoft would be an unimportant company. The team that wins is the team with the best players.What CEO s of the world are saying Jack Welch : ³³This business game is all about winning.´ Larry Bossidy : ³ To put it simply and starkly: If you don¶t get the people process right.
Issues faced by HR I have been in this role for last 3 years where do I go from here People occupying roles bigger for their shoes How do I keep my best guys engaged I want to fill an open position internally but have no or limited option My people do not have adequate competence to address current business challenges .
Argument for Talent Management Business faces accelerating complexity leading to uncertainty External environment Regulated Intense Competition Convergence & Commoditization of financial products Internal Customer & Distributor base & diversity Goals and aspirations of organization Nature of business ± Financial / Trust / Long Term / Regulated / Interdependent / Geographical spread Talent is a sustainable creator and differentiator of value .
Contd . Gap between supply and demand (quality & quantity ) Succession Plans at Senior Level and their Direct Repotees Critical positions vacant in higher management Retention and Engagement of Talent Compelling Value Proposition Different strokes for different folks .
make decisions and communicate priorities Role model of Organization¶s Values. High Performance Behaviors .What or who are Talent? People who Understand Business and its Key Drivers Drive Business/ performance in line with Organizational goals Bring clarity & energy around what needs to be done simplify Strategy into specific actions.
3 Key deliverables of Talent Management Process 1. Key Position Backups Provide strong future fit leaders 3. SPOT and BUILD organization's Top Talent Manage High Performers 2. Resource Classification & Investment Segment talent Build Value Proposition linked to potential and value add .
Principles of Dynamic talent Management Process Doing what matters : Spot leaders early and across levels Build segmented differentiated experience Provide Opportunities to be immersed in higher order complexities repeatedly Deploying the best talent into roles that maximise business impact Involve and equip Senior Leaders in the Talent Development processes Build responsibility of Leaders to nurture more leaders not just more numbers Supervisor as Coach Leads deployment of initiatives / process Treat Talent goals like company financials ± clear strategic goals Talent Metrics feature in Functional plans Nurturing a Talent Mindset .
Talent Management Process Step 1 Identify Key Roles Step 2 Take an Inventory of Your Talent Management Skills. Step 3 Measure the Right Things Step 4 Set Up a Process-Wide Feedback Loop .
Talent wheel .
motivation and development. appraisal and reward. ± Look for gaps in responsibilities ± Look for overlapping responsibilities ± Are the right people in the right roles? Are line managers provided with consistent and effective processes. building and sustaining relationships) map the key players and their roles and responsibilities to each stage. hiring and inculcation. guidelines and tools for managing talent? .Step 1: Identifying key roles Analyze the key steps in each part of the talent life cycle (identification and attraction.
.Step 2: Inventory of skills Identify the critical skills needed to play the key roles in the talent life cycle effectively ± Look for the extent to which your company employ people who possess them ± Look for ways to improve or develop them ± Look for areas that are being done in-house that might be better outsourced and that which are outsourced that you should be doing in-house.
etc. performance ranking.Step 3: Measure the right things Assess the measures you use to evaluate the performance of your talent management process at each life cycle stage such as offerto-hire ratios. average tenures of new hires. ± Look for data being recorded and whether it is entered in the talent scorecard ± Align with entire talent mgt strategy . skill fit to job requirements.
Step 4: Feedback Everyone managing talent needs to understand the big picture and to connect their role and responsibilities to the overall objectives of the process ± Note how data in each stage of the life cycle is reported and communicated. ± Note the information gaps and missed communication ± Suggest actions to improve feedback mechanisms . including knowledge and experiences.
Seven Talent Management Practices That Matter Job Stretch and Mobility Mentoring Not Just Managing Freedom and Stimulation Deep Immersion Teaching and Coaching Diversity of Talents and Personalities Horizontal Growth Paths .
Additionally (because of labour shortages). and will result in breaking through the glass ceiling.com Advent of software technology online screening and analysis tools like Resume analysis program. race. recruiting in the future may become more depersonalized on the one hand. Given widespread labour shortages. gender. ± As all of these tools become more sophisticated. and more personal on the other. with large volumes of applicants being screened by algorithms rather than judgment. and age-based discrimination in the workplace will occur much less often . solid managerial talent will be scarce.Future Trends In Talent Management E-recruiting job portals like monster. online pre-employment assessment tests.com. naukri. through the wide use of web phones for immediate interviews and the greater use of synchronous video conferencing. toward making teams (often virtual and sometimes global) more effective in working with each other to meet common goals. The future emphasis is likely to shift from purely individually oriented learning.
enabling the seamless flow of information to the right person at the right time. Organizations that face this problem head on will be able to reduce its impact but it will remain the number one human resources issue. Instead. All human resource information systems would be part of the enterprise-wide digital nervous system. shorten product cycles. and speed products to market. Virtual work teams will enable organizations to blend capabilities. HR professionals are focusing on understanding the future people capabilities before loosely aligning pots of talent against those future requirements . Turnover will assume crisis proportions as human capital becomes a scarce natural resource. boost productivity. Succession management: role to capability ± The traditional approach to succession management (of linking potential to leadership roles) is becoming less relevant in dynamic organizations.
. Linking Internal and external talent ± Leading organizations were increasingly seeking to build relationships with external talent and capture this pool as an explicit source of succession for key roles. Businesses are increasingly looking to quantify how inputs link to tangible results. Home grown increasingly looks more like industry grown . Conventional belief that effective talent management interventions lead to improved business outcomes is coming under challenge. Linking Talent Management Interventions to outcomes ± The ROI from talent management continues to be a major focus for organizations.
Future Trends ( contd.) How Global Companies Are Changing? Integrated functionality and usability Dynamic influences in shaping the global workforce Rapid acceptance of the on-demand model Multinational capabilities .
In case the company had employees with skills matching the criteria. . IBM often redeployed its workforce. Each of IBM's business units had its own resource board that reviewed and approved external job postings on a regular basis.The IBM way Talent Management ± To achieve a balance between talent supply and demand. they were redeployed on the new job instead of recruitment being done externally. The internal redeployment process was designed to minimize loss of productivity of skilled employees.
. Mahler was responsible in the 1970s for helping to shape the General Electric succession process which became the gold standard of corporate practice. A process for identifying and developing internal people with the potential to fill key leadership positions in the company.SUCCESSION PLANNING BACKGROUND AND DEFINITION The first book that addressed the topic fully was "Executive Continuity" by Walter Mahler.
. Fundamental to the succession-management process is an underlying philosophy that argues that top talent in the corporation must be managed for the greater good of the enterprise. Effective succession or talent-pool management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression.SUCCESSION PLANNING It increases the availability of experienced and capable employees that are prepared to assume these roles as they become available.
Pepsi and Proctor and Gamble. Studies have indicated that these companies feature high ownership by the CEO and high degrees of engagement among the larger leadership team (Kesler. Microsoft. Marriott. Companies that are well known for their succession planning and executive talent development practices include: GE. 2002). . IBM.SUCCESSION PLANNING A "talent mindset" must be part of the leadership culture for these practices to be effective. Honeywell.
. 2002).SUCCESSION PLANNING Research indicates that clear objectives are critical to establishing effective succession planning (Kesler. These objectives tend to be core to many or most companies that have well-established practices: ± Identify those with the potential to assume greater responsibility in the organization. ± Engage the leadership in supporting the development of high-potential leaders. ± Build a data base that can be used to make better staffing decisions for key jobs. ± Provide critical development experiences to those that can move into key roles.
with a future orientation ± Identify pools of talent that could potentially fill and perform highly in key roles ± Develop employees to be ready for advancement into key roles . . Most reflect a cyclical series of activities that include these fundamentals: ± Identify key roles for succession or replacement planning ± Define the competencies and motivational profile required to undertake those roles ± Assess people against these criteria .SUCCESSION PLANNING PROCESS AND PRACTICES Companies devise elaborate models to characterize their succession and development practices.primarily through the right set of experiences.
SUCCESSION PLANNING Game Planning approach to succession and talent management: Annual reviews are supplemented with an ongoing series of discussions among senior leaders about who is ready to assume larger roles. IBM and Nike . . Vacancies are anticipated and slates of names are prepared based on highest potential and readiness for job moves. Current examples are PepsiCo.
ranging from personality and cognitive testing to team-based interviewing and simulations and other assessment center methods. There is no widely accepted formula for evaluating the future potential of leaders. but there are many tools and approaches that continue to be used today.SUCCESSION PLANNING Assessment is a key practice in effective succession planning. .
.SUCCESSION PLANNING Most large corporations assign a process owner for talent and succession management. Often these staff resources are separate from external staffing or recruiting functions. Resourcing of the work varies widely from numbers of highly-dedicated internal consultants to limited professional support embedded in the roles of human resources generalists.
The Human Resources Planning Society (http://www.org/).SUCCESSION PLANNING For additional information The leading professional affiliation for succession-planning professionals is. an international association with academic and practitioner membership from around the world. . arguably.hrps.
Talent DNA Workforce Planning Career COMPENSATION Planning TALENT DNA Succession Planning Learning Management Performance Management .
Using concepts of total compensation/ total rewards Money is an important motivator. . Strategic compensation techniques for talent management.Compensation & talent Management Important for attracting talent at the facet.
TALEO Introduces Talent Grid: Cloud Computing for Talent Management The leading provider of on-demand talent management solutions. The Talent Grid. For businesses. the Talent Grid. charges our cell phones. The Talent Grid will be populated by third party solutions such as background checks. and keeps our economy running smoothly. The Talent Grid is analogous to the power grid that powers our homes. will deliver the infrastructure and resources to power organizations' future talent needs. the Talent Grid provides the infrastructure and resources to power an organization's main source of innovation and execution: its talent. social networks. talent management best practices and successful methodologies . built on Taleo's on-demand application platform. as well as content from customers' talent pools. introduced its cloud computing strategy. assessments and salary data.
Fact-based compensation: With Talent Grid. Would you like to know how your talent measures up to their peers elsewhere? Taleo has over 3. The Talent Grid can turn this around by leveraging internal and external networks. you can show an . helping to ensure you do not over pay or lose an employee due to dated. The current practice of recruiting is often inefficient. and a wider range of sourcing engines and tools.TALEO Introduces Talent Grid: Cloud Computing for Talent Management --More rational recruiting. then we think about who could fill it. company or industry. -.Keeping score on your talent. employee or candidate what the job is really worth in real time. First a job is available. to effortlessly identify people with the key attributes for success in your business as a job is posted.600 customers. but also a whole department. all tracking employee performance by a large number of metrics. The Talent Grid can give access to that aggregate information and let you analyze and compare not just an employee. -. uncompetitive compensation metrics.
At the foundation of the Talent Grid are Taleo's applications: Taleo Recruiting and Taleo Performance for the Enterprise and. Taleo Platform ± The platform ties Taleo applications together with reporting.TALEO Introduces Talent Grid: Cloud Computing for Talent Management The talent grid is made up of the following components: ± Taleo Products." and linking the bottom line to each employee's goals and measurements. analytics. Today. ± The widespread use of Taleo's products creates strong network effects.Compensation Management Solution. helping companies implement true "pay-forperformance. extend talent management processes and exchange content and services Taleo Marketplaces. global compensation capabilities to Taleo's core set of enterprise solutions. This adds robust. and will power another aspect of the Talent Grid: dynamic marketplaces of products. Taleo Business Edition Recruit and Taleo Business Edition Perform. integration and a set of web services that make it easy for customers and partners to access the Talent Grid. Taleo announced a strategic investment in Worldwide Compensation. For example: -. Inc. for the small and medium business (SMB) market. solutions and ideas .
com/publications/articles/item/33-why-the-leadership-benchnever-gets-deeper Mahler.kateskesler. 2010.html . http://ir.articlesbase.cfm?ReleaseID=397252 http://www. "Best Practices in Talent Management: How the World's Leading Corporations Manage.. L.. San Francisco: Pfeiffer. 2002. "Executive Continuity: How to Build and Retain an Effective Management Team". W. W. People & Strategy.taleo. IL: Dow Jones-Irwin.REFERENCES Goldsmith. Carter. M.com/releasedetail. Homewood.http://www. 25 (1). 1973. G.com/human-resources-articles/emerging-trends-of-talentmanagement-and-challenges-of-hrm-957837. Why the Leadership Bench Never Gets Deeper: Ten Insights About Executive Talent Development. Kesler. Wrightnour. 32 44. Develop and Retain Top Talent.
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