Engaging and Retaining Employee Talent

Identification and Management of Talent

Talent identification and management consists of the ways by which an organization spots talent and develops it.
1.

Assess talent pool needs

2.Spot talent 3.Develop talent

Each organisation will have a different resourcing requirement for its current and future talent pipeline, as well as different issues concerning how best to meet these requirements. These are the building blocks around which the company must build its Talent Identification strategy.

Core competencies
Core competencies are those capabilities that are critical to a business achieving competitive advantage.


The key to improving the performance of your organization is ensuring that your workforce has the skills and knowledge they need to achieve your organizations goals. Use a competency-based skills assessment to identify gaps in skills and competencyknowledge that diminish the performance and overall potential of an organization. Understanding the current competencies of your workforce is critical for improving the performance of your organization.

Steps in identification of core competencies:

  

Define the competency model. model. Assess your employees skills. Analyze the skills inventory and individual and organizational skill gaps.

Benefits of Using a Competency Management System  Identify Tomorrows Leaders  Align Training with Corporate Goals  Build Better Project Teams  Identify Critical Skill Gaps  Optimize Your Workforce / Performance Management  Prepare for the Unexpected  Retiring Workforce

Retaining Key Talent



Why do they leave? Opportunities for growth and advancement. Quality of compensation package. Amount of job stress. Quality of relation with manager. Ability to balance work and Home Life.

Engagement keys
According to HR professionals ratings, the five most valued retention interventions are: 1. Conducting internal studies (surveys, focus groups)
to understand why employees leave/stay. 2. Improving the openness of communication between management and employees. 3. Expanding or improving training and development opportunities.

Steps to retain talent



Tell them they are high potential employees.

Develop an innovative employee program.

Talent Development strategy:



Company communication Performance plans and assessments Mentoring and coaching. Training programs

Retaining talent, the TCS way



How does Tata Consultancy Services (TCS), which accounts for the largest workforce among IT companies in India, also enjoys the lowest attrition rate 10.8 per cent in the sector?

Strategy in place
One was the way it kept building the competencies of its people.


The company studied the type of engagements the people were currently doing and what kind of work they were needed to do. Thus, there was a "very systematic effort of investment and training people and building their competencies." He described this as "one big exit barrier for our employee."

Also, the company has a good rotation plan to move people across geographies and technologies. The three strategies adopted by TCS building competencies, engaging people at all levels and giving them continuous technology domain capability across multiple geographies helped it to keep employee motivation high and maintain high retention.

EMPLOYEE ENGAGEMENT AND EMPLOYEE SATISFACTION

EMPLOYEE ENGAGEMENT EMPLOYEE SATISFACTION


Employee engagement is the level of commitment and involvement an employee has towards their organization and its values. Engaged employees care about the future of the company and are willing to invest the discretionary effort Engaged employees feel a strong emotional bond to the organization that employs them.

Employee satisfaction is a measure of how happy workers are with their job and working environment. Satisfied employee may or may not care about the future of the company. Satisfied employee feel an emotional bond to the organization is not necessary as he is satisfied because of certain factors available in that particular organization.

EMPLOYEE ENGAGEMENT An engaged employee is always a satisfied employee.



EMPLOYEE SATISFACTION A satisfied employee is not always an engaged employee.

EMPLOYEE ENGAGEMENT


According to New Bersin & Associates Research Companies with Integrated Talent Management Strategies See 26% More Revenue Per Employee and 41% Lower Turnover among High Performers. The latest research from Bersin & Associates reveals that talent management processes has a significant impact on an organization.

An organizations productivity is measured not in terms of employee satisfaction but by employee engagement. Employees are said to be engaged engagement. when they show a positive attitude toward the organization and express a commitment to remain with the organization.

Organizations that believe in increasing employee engagement levels focus on:

INCREASING EMPLOYEE ENGAGEMENT



Conduct periodic meetings with employees to communicate good news, challenges and easy-to-understand company financial information

Indulge in employee deployment if he feels he is not on the right job. Provide an open environment.

Communicate openly and clearly about what's expected of employees

THE MAIN DRIVERS OF ENGAGEMENT

..MEANINGFULNESS OF THE WORK. .ALLOWING VOICE N BEING ABLE TO FEED YOUR .VIEWS UPWARD . SENIOR MANAGEMENT COMMUNICATION N VISION . SUPPORTIVE WORK ENVIORNMENT . PERSON JOB FIT