Ch 1 introduction to talent management
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CH 1 INTRODUCTION TO TALENT MANAGEMENT. Think About this Scenario …. Did you think about how many of your staff are opened to work somewhere else? Well, at any one time more than 55% of your employees will be welling to leave you. Do you know What Talent Management is?.

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CH 1 INTRODUCTION TO TALENT MANAGEMENT

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Ch 1 introduction to talent management

CH 1INTRODUCTIONTO TALENT MANAGEMENT


Think about this scenario

Think About this Scenario …

Did you think about how many of your staff are opened to work somewhere else? Well, at any one time more than 55% of your employees will be welling to leave you...


Do you know what talent management is

Do you know What Talent Management is?

A set of business practices that manage the planning, acquisition, development, retention and advancement of talent in order to achieve business goals and optimize performance.

“Nothing is as important as Identifying, Training and Holding onto

talented people” – Jack Welch


Importance of talent management

Importance Of talent Management

  • Recruitment

  • Retention

  • Employee development

  • Leadership and "high potential employee" development

  • Performance management

  • Workforce planning

  • Culture


In good and bad times

In good and bad times

When business needs are high, people with a range of talents are added. However, When business eases, talent needs drop and workforce reductions and hiring freezes are common responses


Ch 1 introduction to talent management

  • Low productivity

  • Dissatisfaction

  • Low morale

  • -Absenteeism

  • Result: Employee is shown the door.

  • Alternative????


Ch 1 introduction to talent management

TALENT MANAGEMENT


Ch 1 introduction to talent management

Assure our success in fulfilling our Mission

FULFILLMISSION

ACHIEVE OPERATIONALEXCELLENCE

  • Help us achieve operational excellence

DEVELOP

  • Recruit, retain and develop the right talent

RETAIN

RECRUIT

Liberating the Potential of People


Benefits for organisation

BENEFITS FOR ORGANISATION

  • Increased productivity and capacity

  • Linkage between individual efforts & business goals

  • Commitment of valued employees

  • Better fit between people’s jobs and skills


Benefits for employees

BENEFITS FOR EMPLOYEES

  • Higher motivation & commitment

  • Career development

  • Increased knowledge

  • Contribution towards company goals

  • Job satisfaction


Benefits for employees1

How To Manage Talent?

BENEFITS FOR EMPLOYEES

Recognizing talent

Attracting talent

  • Selecting talent

Retaining talent

Managing succession

Change organization culture


Talent management process

Talent Management Process

PLAN

EVALUATE

DEVELOP

ADVANCE

LEAD

ANALYZE


Identify the employees

Identify The Employees

Super Keepers

  • A very small group of individuals who have demonstrated superior accomplishments, and who embody the core competencies and values of the organisation

    Keepers

  • Those who Exceed Employee Expectations

    Solid Citizens

  • Meet Organisational Expectations

    Misfits

  • Those who fall below Organisational Expectations


Recruiting talent

……..RECRUITING TALENT

A wrong fit will result in further hiring, re-training and other wasteful activities.


Developing talent

…DEVELOPING TALENT

Real world examples:

  • TCS

  • ILP: Initial Learning Program

  • CLP: Continuous Learning Program

  • LDP: Leadership Development Program

  • FLI: Foreign Language Initiative

  • Workplace learning


Motivating talent

… MOTIVATING TALENT

Real world examples:

  • Wipro : - Encore

  • Individual Level- Feather in my cap

    (On the spot recognition)

  • Organization Level – Master mind

    (Most innovation solution)


Motivating talent1

… MOTIVATING TALENT

  • Recognition & rewards

  • Acknowledgment

  • Cash incentives

  • Gifts

  • Certificate of appreciation

  • Opportunities to attend workshops/training/events

  • Membership to exclusive clubs

  • Holiday packages

  • Scholarships for children


Talent retention

… TALENT RETENTION

“90% of Indian companies have talent retention problems”.

- AIMA

“Fight to end the flight of talent professional”.

- Mr. AK Balyan

Executive Director-HR

ONGC Ltd.


Talent retention1

… TALENT RETENTION

  • Pay

  • Benefits

  • Learning and growth

  • Work culture/environment


Talent retention2

… TALENT RETENTION

  • Pay:

    Variable pay

    Real world examples

  • Wipro: 30 to 50 per cent

  • Infosys: 10 to 30 per cent

  • 2001: 85 per cent organizations

  • 2005: 89 per cent organizations


Talent retention3

… TALENT RETENTION

  • Benefits:

  • Free medical

  • Transport facility

  • Company accommodation

  • Life insurance

  • Saving and investment plans

  • Employee stock options plan (ESOP)

  • Paid holidays


Talent retention4

… TALENT RETENTION

  • Benefits:

  • Real world examples:

  • Infosys:

  • Insurance: 13000 employees-Rs. 10 Lacks-LIC

  • First Indian firm – ESOP

  • Transport : Bus service – Bangalore city to Infosys office


Talent retention5

… TALENT RETENTION

  • Benefits:

  • Real world examples:

  • TCS:

  • Housing loans

  • Personal computer

  • Automobiles

  • Medical insurance for employee and family

  • Air fare for spouse and two children


Talent retention6

… TALENT RETENTION

  • Learning and Growth:

  • Real world examples:

  • TCS:

    4 per cent of revenue spent in learning and growth


Talent retention7

… TALENT RETENTION

  • Work Culture:

  • Organization culture

  • Communication system

  • Participation

  • Recognition

  • Rewards


How to effectively manage talent

HOW TO EFFECTIVELY MANAGE TALENT?

  • Build a Winning Environment that people want to belong to

  • Establish a Talent Management Mindset, which embeds Ownership and Accountability for Optimising Talent and Potential

  • Create Tangible Means to Identify, select and deploy people of Outstanding Talent

  • Fully Engage Talent, use it and manage it Intelligently


Ch 1 introduction to talent management

Recognize

talent

Change

Organization

Culture

Attracting

Talent

WAYS TO

MANAGE

TALENT

Managing

Succession

Selecting

Talent

Retaining

Talent


Talent retention map

Measure &

Monitor

  • Track Learning and Progression

  • Quantify the Effect of Training

Talent Retention Map

Career Progression

Plan

Instruct

Reward &

Promote

  • Provide Training

  • Enable Global Learning

  • Align Workforce to Strategic Objectives

  • Retain Top Talent

  • Give Suitable Compensation and Rewards

Learning Retention


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