TALENT MANAGEMENT

BY
RITU KARN
(PESIT)
 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.
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.
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
 Talent War
 Technology
 Increase in Employer of Choice Initiatives
 Promoting Talent Internally
 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.
 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.
 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!