Talent Management.....an Overview
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Transcript of Talent Management.....an Overview
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8/13/2019 Talent Management.....an Overview
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Effective and efficient recruitment processes
Develop leaders and create a sustainable leadershippipeline
Identifying competency gaps and ways to fulfilling it Identifying high performers and successors to key
positions
Managing people in a consistent and measurable way
Hiring, managing and retaining talented workforce
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Talentthe most sort after resource in the times tocome.
Managing talent is the most challenging issue in the
arena of Human Resources today
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Talent entails having those skills that provide the
edge and differentiation to the organizationTalent = Potentiality + Performance
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Talent pool is now a nations prime strategic resource
A countrys talent pool is again measured not in termsof number but by quality and depth of talent possessedby each of them
India though demographically a sweet spot comparedto other nations yet is affected by talent shortage
Inadequate skills imparted to technical & managerialpeople
Talent Management is what organization has devisedas a solution to the problem of talent crunch
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Attracting the best people
Applying their strengths productively
Creating work environment for growth and
development
Retain the talent that has been acquired and
developed.
Making a company successful, profitable andproductive
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Talent Management is theprocess of developing andnurturing new employeesthough on boarding, developingand retaining current
employees and attracting highlyskilled individuals to work foryour company.
-Mckinsey
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(LQ+CQ+RQ+AQ)X Values = Talent
LQ= Capacity to Learn (Learning Quotient)
CQ= Capacity to Think (Conceptual Quotient)
RQ= Capacity to Relate (Relationship Quotient)
AQ= Capacity to Act (Action Quotient)
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Improve competitiveness by hiring, retaining,and empowering the best people
Achieve goals by aligning staffing practices
with corporate strategy Profit from more effective and efficient global
operations
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Examples of companiesfocusing on talentmanagement and have
started practicing it areinclude, Capgemini,Eastman Chemical,Kimberly-Clark,PitneyBowes, SCI,Seagate, Steelcase,Textron,.
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Tapping talent is a difficult task hence organizationsmust innovate on how and where they can locate talentother than through conventional recruitment methods
Poaching is the best and quickest approach to sourcetalent while using compensation as a tool for managingacquired talent is easy but short lived
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Talent acquisition is a strategy which enablescompanies to build its competitive advantage and beproactive and prepared for future performance with aready now workforce.It involves-:
Finding Attracting Engaging Developing
Retaining Transition of the workforce
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Three- pronged approach
1. Companies should showcase their businessphilosophy and their niche ventures
2.
Companies should work hard to achieve credibilityamong the internal and external stakeholders
3. Companies should showcase its thought and executiveleadership through forums
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HP reputation in imaging and printing in themarket made it attract the best talent in Japan
TCS conducts interactive programmes andeducates the students about the company andattracts talent through awareness.
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GE identifies global leaders from a localtalented pool
ICICI observes the same method as that of GE
Sap has introduced a global talent managementprogramme which identifies talented staff andprepares them for leadership
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Cross-border rotation of employees isencouraged by SAP and TCS which enhancestheir capabilities
Global Communication Job Rotation Program& Maitree are programmes and forums whichfacilitates employees
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Retaining acquired talent isthe next biggest challengethat Companies are facing
Measures could be
Well designed and dynamiccompensation & benefitsystem
Well drafted career planningand succession planningmodel
Creating conducive &proactive work culture in theorganization