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TALENT MANAGEMENT

Road Map to ResourceOptimization

by

Human Resource Division© HRD – M&P

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“War for Talent”

The process of attracting & retaining protable employees; as it is increasinglycompetitive between rms and of strategicimportance

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Purpose of  Talent Management

Identify and manage the talent in our

organization evelop and apply strategies for developing

our sta! 

To ma"imize retention of high performers

evelop e!ective succession plans

#"change talent across functions

$locations% business% departments

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Financial Value of  Talent Management

Seven critical economic areas:

Increase revenue

'ustomer satisfaction

Improve (uality 

Increase productivity 

Reduce cost 

Reduce turnaround time

Increase return to shareholders

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Identify Talent Type

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 Talent Type

)eadership & #"pert* #(ual to or more than +,- ratings

in both ob.ective achievement &

 performance competencies /enerally ready for the ne"t move

within or outside their wor0 units Must be assigned additional .ob responsibilities

 1 .ob rotation% may be considered   for promotion sub.ect to availability of opportunityor identied as eligible successor 

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 Talent Type

Expert: #(ual to or more than +,- rating in ob.ective

achievement & rating within the range of

23- 4 25- in performance competencies #"pert in their current .obs 6eers consult them for advice 6refer status (uo% lac0 initiatives 1 

futuristic approach 7ormal coaching 1 development plan 6ersistent motivational interventions

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 Talent Type

#merging Talent* Ratings within the range of 23- 4 25-

  in ob.ective achievement & e(ual to or more

than +,- in performance competencies 7uture leaders in the ma0ing and may

re(uire 89: years to be ready for the ne"t move

aluable asset for the organization & hence

  must be identied for potential development 

On9the9.ob coaching% supporting% team participation% appreciation & recognition

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evelopment Planning

evelopmentalassignments

 

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Scope of Focus !roup 7ocus /roup would comprise

Functional Heads only 

 =ll cases identied as successors for M4 & above will be discussed

More than One successor must be identied

Quarterly meetings will be held to review the progress beingmade on the development plans of these identied successors

 =ll cases of promotions will be discussed at the time of6erformance =ppraisal e"ercise

 =ll cases of ob rotation or addition in ob responsibilities willbe discussed with /eneral Manager >uman Resources andManaging irector  

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 "onclusion ?e must focus on the @est 6ractices that fosters

individual career growth & improvement 

Organizations that do not want to be left behindmust identify% adopt and invest in talentmanagement 

 =lternatives are not so attractiveA

!v"i"# one time increments$

 promotions$ c%ange o titles$

grades etc 'ould only serveas s%ort (xes)