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CH 1 INTRODUCTION TO TALENT MANAGEMENT

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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  1. CH 1INTRODUCTIONTO TALENT MANAGEMENT

  2. 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...

  3. 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

  4. Importance Of talent Management • Recruitment • Retention • Employee development • Leadership and "high potential employee" development • Performance management • Workforce planning • Culture

  5. 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

  6. Low productivity • Dissatisfaction • Low morale • -Absenteeism • Result: Employee is shown the door. • Alternative????

  7. TALENT MANAGEMENT

  8. 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

  9. 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

  10. BENEFITS FOR EMPLOYEES • Higher motivation & commitment • Career development • Increased knowledge • Contribution towards company goals • Job satisfaction

  11. How To Manage Talent? BENEFITS FOR EMPLOYEES Recognizing talent Attracting talent • Selecting talent Retaining talent Managing succession Change organization culture

  12. Talent Management Process PLAN EVALUATE DEVELOP ADVANCE LEAD ANALYZE

  13. 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

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

  15. …DEVELOPING TALENT Real world examples: • TCS • ILP : Initial Learning Program • CLP : Continuous Learning Program • LDP : Leadership Development Program • FLI : Foreign Language Initiative • Workplace learning

  16. … MOTIVATING TALENT Real world examples: • Wipro : - Encore • Individual Level- Feather in my cap (On the spot recognition) • Organization Level – Master mind (Most innovation solution)

  17. … 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

  18. … 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.

  19. … TALENT RETENTION • Pay • Benefits • Learning and growth • Work culture/environment

  20. … 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

  21. … TALENT RETENTION • Benefits: • Free medical • Transport facility • Company accommodation • Life insurance • Saving and investment plans • Employee stock options plan (ESOP) • Paid holidays

  22. … 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

  23. … 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

  24. … TALENT RETENTION • Learning and Growth: • Real world examples: • TCS: 4 per cent of revenue spent in learning and growth

  25. … TALENT RETENTION • Work Culture: • Organization culture • Communication system • Participation • Recognition • Rewards

  26. 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

  27. Recognize talent Change Organization Culture Attracting Talent WAYS TO MANAGE TALENT Managing Succession Selecting Talent Retaining Talent

  28. 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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