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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)
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