SlideShare una empresa de Scribd logo
1 de 8
Descargar para leer sin conexión
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
64 This work is licensed under Creative Commons Attribution 4.0 International License.
A Study on Talent Management and its Impact on Organization
Performance- An Empirical Review
Prof. Pushpa Hongal1
and Dr. Uttamkumar Kinange2
1
Assistant Professor, MBA Department, Kousali Institute of Management Studies, Karnatak University, Dharwad, INDIA
2
Professor, MBA Department, Kousali Institute of Management Studies, Karnatak University, Dharwad, INDIA
1
Corresponding Author: hongal.pushpa@gmail.com
ABSTRACT
These days organization’s talent is its primary source
of competitive advantage. Performance of organization
depends upon performance of its employees. If employees of
an organization possess unique competence, that will
differentiate them from their competitors. In this competitive
environment retention of talented workforce is a major task
for HR managers along with acquisition. Talent management
is a very complex and critical task. Right Talent acquisition
makes organization strategy more strong. The current global
economic situation has increased overall jobseekers in
employment market worldwide, but there is still notable talent
shortage in different sectors and different countries, this leads
to increase the problem of “Talent Mismatch”.As today’s
corporate world requires a person with multitasking skill,
talent acquisition is becoming very difficult. As a result,
finding the “right” person for a particular job is becoming
more challenging. Not only acquisition even retention of
talented workforce has become greatest challenge for
organization. Today’s changing landscape of business requires
its HR to act more strategically to build employee engagement
which is a great tool for talent management. Talent
Management focuses on how individuals enter; move up
across or out of the organization. Talent Management will
succeed with the support of strong organization structure. As
better talent can change the future of business, Talent
Management has to be given predominant role in
organization. If organization implements talent management
strategies effectively, that enhances employee’s engagement
which in turn helps to improve organization performance.
Higher the employee engagement higher the productivity. This
present study aims to identify the relationship between talent
management and organization performance. This study is
based on empirical research evidence build by literature
reviews carried out in this direction. Researcher is intended to
use different articles, research papers and literatures in order
to identify the positive relationship between talent
management and organization performance. This empirical
research paper will provide insights to HR managers to build
Talent management as a Strategic tool to build employee
engagement and thereby improving organization
performance.
Keywords-- Talent Retention, Employee Engagement,
Organization Performance, Competencies
I. INTRODUCTION
The war of Talent is on…..
“Companies must therefore make talent management a top
priority – create and continuously refine their employee
value proposition, and source and develop talent
systematically” (McKinsey & Co.)
Yes the war of Talent Management has begun...
Talent is a primary source of competitive advantage for
today’s corporate world. The rise in knowledge economy
has resulted in more focus on acquiring and retaining
talented workforce. The best talent is most critical to
achieve best results. An effective talent management system
builds the winning organization by proper utilization of
strategies framed at different levels. Winning organization’s
competitive advantage depends upon the ability to
effectively hire, retain, deploy and engage talent at all
hierarchical levels. Research proves that organization can
build its sustainable competitive advantage by investing in
talented workforce today. Organizations intending to apply
talent management have to strategically analyze its
relevance.
II. OBJECTIVE AND METHODOLOGY
Objective of this paper is to understand talent
management, importance of talent management in
leveraging competitive advantage of organization. This
paper also provides insight on how talent management
initiatives can complement organization’s recruitment and
retention policy.
“A Study on Talent Management and its impact on
Organization Performance- an Empirical Review” This
study aims at understanding the importance of talent
management practice in improving organization
performance. As in today’s world, identifying right talent,
retaining them is the biggest challenge. Success of
organization depend upon organizations ability to acquire,
retain and develop right talent. This study is based on
secondary data, collected from different sources such as
books, articles, websites etc.
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
65 This work is licensed under Creative Commons Attribution 4.0 International License.
Limitations of the Study
This present study is based only on secondary data
and time spent for conducting this research is too short and
using of non statistical tools to analyze and interpret the
data may not be applicable to whole market.
Talent management is defined by many authors. Such as:
“Talent management involves individual and
organizational development in response to a changing and
complex operating environment. It includes the creation and
maintenance of a supportive, people oriented organization
culture.”
“Talent Management basically requires proper
diagnose of the current employee attitudes and
organizational culture and than targeting the problem
through a suitable strategy”.
“How organization can make the best use of talent
of people they employ”
“A conscious, deliberate approach undertaken to
attract, develop and retain people with the aptitude and
abilities to meet current and future organizational needs.”
All above definitions clearly say that talent
management is one of the strategic activity which deals
with not only attracting but retaining qualified workforce.
In globalize market environment it is really very difficult
for HR managers to manage talent in most effective
manner. Talent management is considered as one of the
very important challenge for HR mangers.
Why Talent Management Is Gaining So Importance?
The concept of talent management was not new.
This concept has emerged in 1990s. But this function was
not considered as more important for HR Managers. It was
just considered as one of the additional responsibility to HR
Manager. But in today’s competitive environment corporate
have given special importance for talent management in
their organization structure.
Talent management is the most crucial factor in
the development of organization. As
 The best talent can change the future of business.
 Talent management brings together Human
resource and management initiatives.
 Hewitt Best Employers in Asia 2005 study
clearly shows that best employers record over 60
percent higher revenue growth, 30 percent higher
growth in revenue per employee and half the
recruitment costs of the rest.
 Surveys have showed clearly that there is a
relationship between best talent and better
organization result. A 2007 study from the
Hackett Group found companies that excel at
managing talent post earnings that are 15 percent
higher than peers
 The context in which business operates has
become more complex. New product, changing
technology, new market etc. are already putting
pressure on business. Talented workforce can
easily solve all these problems.
 According to a survey done by the All India
Management Association (AIMA), 90 per cent of
Indian companies have talent retention problems.
In present talent hungry market place As many study’s
clearly shows that today’s organization are facing problems
regarding talent retention and acquisition, talent
management has become one of the very important
challenge for HR practioners. In the last decade many
organizations have faced problems regarding acquiring the
right talent, increasing retention rate, decreasing attrition
etc. HR Manager has to diagnose the problem of employees
and then can start treatment. For all these reasons Talent
Management has become the greatest challenge for HR
managers.
Talent management basically involves acquiring,
retaining and managing the best talent. Talent management
in today’s context has become strategically important.
Talent management refers to the process of integrating new
workers, developing and retaining current workers and
attracting highly skilled personnel to work for your
company. It is indispensable for survival and sustainable
development of any business organization
In today’s organization talent Acquisition is considered
as one of the most challenging problem for HR managers.
To win this “War of Talents”, talent acquisition and talent
retention is most important.
III. TALENT ACQUISITION
Many business executives have rightly said that
talent is more critical factor in both domestic and global
front. Talent acquisition is the long term strategic approach
to Recruitment. It includes identifying, attracting,
developing, engaging & retaining qualified workforce.
Talent acquisition involves all the sub processes around
finding, attracting and engaging highly talented individuals
into your organization. Today more organizations have
identified Talent acquisition as a strategy to align with
organizational goal. The need for qualitative recruitment
has become the essence of Talent management strategy.
As per the survey conducted by Deloitte
Consulting in the year 2007, the biggest challenge for
organization was hiring the right people to meet their
strategy objective and retaining them.
Acquiring the right talent is always difficult.
Talent should match job requirement and must be possible
to achieve strategic goal of organization. Today world job
market is facing problem of “Talent Shortage” [i.e. talent
not matching job’s skill set and requirement]. No proper
match between demand and supply of right talent.
Today’s corporate require a person with multitasking skill.
Organizations have developed more specific and refined
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
66 This work is licensed under Creative Commons Attribution 4.0 International License.
skill set for different positions. Organizations do change job
descriptions depending upon situations and targets. This has
made finding the perfect candidate for the right job more
difficult. It clearly shows that not the availability of
employee but availability of skilled employee is very
difficult. Therefore organization has to consider “Talent
Mismatch” as the most critical task. organiastions are also
thinking to teach new skills and techniques to their
prospective candidates. This makes Talent Acquisition task
very difficult for HR managers.
Acquisition of talent will not happen only at the
time of need. Organization must follow this as a continuous
process. Traditional recruitment occurs when a vacancy
arises. When an individual resigns or retires or promoted.
The organizations recruit under pressure. Compromised are
made Talent acquisition is to get away from the “fill in the
box” thinking to one that is more pro-active and much
closer to building the skill sets required to achieve success.
Traditional recruitment is just filling open positions.
Talent acquisition takes a long term view of not
only filling positions of today, but also identify talents for
future openings. These future positions may be identifiable
by looking at the succession management plan or by
analyzing the attrition. Today, talent acquisition systems
encompass the entire pre-hire life cycle, from candidate
acquisition and interview management to contact
management and company career site branding. Today’s
organizations are using new technology in its acquisition
plan such as social networking, video tools, job matching
search engine’s etc.
Key Findings from Bersin & Associates report,
"Talent Acquisition Systems 2009: Facts, Practice
Analysis, Trends, and Provider Profiles."
“Over the last year, the talent acquisition market
has changed dramatically. During this down economy,
companies are taking the time to rethink their current talent
strategies. Solution providers have responded by increasing
their partnerships and product offerings. Changes include
innovation aimed at replacing the resume, expansion by
solution providers into global markets, availability of free
products and services in talent acquisition, integration with
social networking sites, and market consolidation. ”
To replace traditional resume innovative solution providers
have emerged in the market now. Such as Video Resume,
Vipe Power Jobfox have replaced traditional resume. Talent
acquisition system providers such as oracle, ADP,Silk Road
etc. Social media is also playing dominant role in this such
as LikedIn, Facebook, Twitter etc.
The Talent acquisition plan: the plan mainly
includes the following core components;
 Development of an existing talent inventory
 Identification of the talent needs of current
industry to support future growth
 Measurement of the gap between the two
Implementation of specific strategies to close the
talent gap to meet the needs of existing industry
and attract new business
 Identification of barriers to talent retention and
implementation of action steps to resolve those
obstacles.
The action plans for Talent acquisition plan:
Larger goal of organization: to create a stronger economic
platform through the acquisition of strong industries and the
expansion of existing industries.
Focal point: represents a center of activity which identifies
barriers and quantifies the existing inventory of talent &
create solutions to reach the larger goal.
Action plans that connect strategies to the larger goal are
as follows:
 Build an existing talent
 Create peer – to – peer strategy sessions
 Illustrate the significance of global exposure to
industries of interest
 Introduce new talent perspectives in educational,
political & business arenas.
 Increase the community’s commitment to new
standards in the workforce
 Design & implement programs to encourage in-
migration & retention.
 Integrate industry needs in key talent recruitment
& retention into city’s growth goals.
 Create targeted, change initiatives to close the
talent gap.
This plan & action plans for talent acquisition varies
from organization to organization and also depends upon
the job specifications.
Talent Acquisition - As a Strategy
Historically organizations have not treated the
recruitment process as one of strategic importance, but
latterly many are now waking up to the reality that the
world has changed dramatically. No more can the
organization pick and choose between several great
candidates for one position. Several changes in our
connected world have tipped the scales in favor of the
highly talented individual looking for a new opportunity.
Technology has made job easy for both employer and
employee. Technology and acquisition strategy is
mentioned above. It has brought significant advantages for
organizations.
A recent survey conducted by Accenture in
collaboration with the economist Intelligence Unit found
that companies are increasingly turning to global sourcing
and delivery in lower cost
Organizations need to integrate their talent
acquisition system with their existing human resource
management system (HRMS) and third-party recruitment
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
67 This work is licensed under Creative Commons Attribution 4.0 International License.
providers—during implementation. For a talent acquisition
system investment to be effective, it needs to be integrated
with third-party solutions such as background check
providers, assessment providers, and job board distributors.
Unfortunately, too many companies make technology
decisions on an ad hoc basis and fail to recognize the
importance of being able to share data among systems until
it is too late.
Based on all the research we have compiled over
the last few months, we believe that Talent Acquisition
needs to be addressed at the most senior levels within all
organizations - big or small, public or private. This means
that Talent Acquisition needs to fit 'hand in glove' with
overall organizational strategy. It needs to have the
appropriate level of resources behind it; it needs to be
monitored and reported on at all board meetings and it
needs to involve many people within the organization who
attribute to it the importance that the organization requires.
The realities of today's demographics have
elevated the issue of talent attraction and retention to
become a critical leadership concern, receiving significant
attention. Given the projected labor market and
demographic trends, an organization's approach to talent
acquisition can become a key differentiator and source of
competitive advantage. The changing market has revealed
that prevailing "one size fits all" HR practices are no longer
effective. Organizations must develop specific people
strategies for their most critical segments that directly align
with and support the business strategy. While individual
approaches are customized to the needs of each
organization, all approaches are based on key critical
success factors. This course focuses on the issues and
challenges organizations face in attracting and retaining key
talent. While introducing participants to emerging
recruitment trends in the industry, this course will also
provide participants with a selection of tools and best
practices from which to draw as they design their own
strategy to win the war for talent.
The talent acquisition systems market continues to
experience growth. Organizations recognize the
opportunities to streamline the entire recruitment process
and the benefits of investing in new talent acquisition
systems. More than ever, companies are looking to prepare
for the future—and the inevitable hiring surge that will
occur—and are focused on becoming leaner and smarter
around their technology choices. Providers of talent
acquisition systems are responding with more complete
solutions for identifying, selecting, and on boarding
candidates.
Talent Retention and Employee Engagement
Talent Management practices and policies that
demonstrate commitment to human resources result in more
engaged employees and lower turnover. Consequently,
Employee Engagement has a substantial influence on
employee productivity and talent retention. Employee
Engagement and Talent Management combined can make
or break the bottom line (Lockwood,2006).
In today’s competitive arena retaining of talented
workforce is the greatest challenge for Human Resource
Department. Now more than ever in the history of business,
it is imperative for the organizations to manage people well.
The shift from industrial age to the knowledge worker’s age
is sweeping the country, in fact the whole world. In today’s
information economy, people’s knowledge, skills, and
relationships are an organization’s biggest asset and main
source of competitive advantage. In order to have a
sustainable competitive advantage organization should have
highly talented workforce. Many surveys say that on any
given day, 76% of the workforce is seeking other
employment opportunities… There are many arguments
which says that Talent acquisition is more difficult than
retention & vie versa. But in our opinion Talent retention is
more difficult task as organization has to create loyalty
among employees People related costs have risen to more
than two thirds of organizational spending. Increasingly,
talent attraction and retention is viewed as a significant
driver of shareholder value and bottom line results.
According to a study completed by the Corporate
Leadership Council (Driving Performance and Retention
through Employee Engagement, 2004), employees who are
committed perform 20% better and are 87% less likely to
resign. The process of building Employee Engagement is
on-going. Effective Employee Engagement fosters an
environment of stimulation, development and learning,
support, contribution and recognition (Lockwood).
Lockwood (2006) concludes that it is the work
experience and ultimately, the Organizational culture that
determine Employee Engagement and retention of talent.
Effective Talent Management requires strong participatory
Leadership, Organizational buy-in and Employee
Engagement (Lockwood,2006).
Attracting and selecting the talent are only the start
and can appear to be the simplest of the phases. Although
pay and benefits may initially attract employees, top-tier
Organizations have now realized the importance of
Employee Engagement. Engagement is much more than
satisfaction. A satisfied employee is happy with current
pay, benefits and atmosphere. This contentment may cause
hesitation to show any extra initiative or achievement; thus,
it creates a worker who is comfortable with the statusquo.
Alternatively, engaged employees demonstrate
virtuous qualities like:
1. Innovation & creativity
2. Taking personal responsibility to make things happen
3. Authentic desire to make the company successful as well
as the team
4. Having an emotional bond to the Organization and its
mission and vision
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
68 This work is licensed under Creative Commons Attribution 4.0 International License.
Why Retention is so Important?
Company Reputation: Maintaining company
reputation is an effective way to attract the talented. The
organization with the using of talented employees, there is a
chance to improve its goodwill and reputation.
Costly for organization: turnover of employees is
costly for organization. The cost of employee turnover is
from 40% - 100% of an employee's annual salary, when we
consider productivity, recruiting costs, reduced efficiency in
transition and time. Worker shall continue to escalate. Each
and everyday good employees quit their employees for
better jobs.
Productivity: A talented employee is self
motivated, self driven towards the work, he acts as a
motivator to other employees in work life. That increases
total productivity of the organization.
What Makes Employee to Quit?
All companies irrespective of size, region are
facing severe problem regarding talent retention. Though
many employees say that “pay “as one of the of the factor
to change their present job, several other reasons were also
associated with this. They are:
 Lack of recognition
 Pay not matching with work
 Dissatisfaction about perk
 Lack of growth opportunity
 Lack of relationship with management and
colleagues
 Pay and other facilities
 No scope for learning new skills
 No development scope
 Ineffective mentorship
 lack of adjustment with work atmosphere
 Lack of proper allocation of authority ad
responsibility
How to Retain Talent?
As talented workforce is an asset for organization,
it is one of the greatest challenges for HR not only to attract
but also to retain the talented workforce. Organizations can
use a combination of four strategies viz., pay, benefits,
learning and development and work environment to create
and retain a pool of talented employees for the organization.
Successful companies assign the same importance to
employer branding as they give to product branding which
help them in becoming an employer of choice. They are
continuously innovating and inventing new ways to keep
talented employees stick to the organization which is
changing the face of talent management in India.
Pay
Pay is the one of the most influencing factor in
keeping talent in the company. It should be kept
competitive to ensure that the employees do not defect to
competitors. As monetary aspect plays predominant role in
keeping employee moral, organization has to keep “Pay”
matching with industry standard. It participated in a market
to market exercise done by agencies that surveys
compensation trends. It also carries out continuous quick
market exercises to validate trends in the market place and
findings of Benchmarking exercises.
IT & ITES players are using variable pay as a
strategic tool not only to retain but also for taking the best
out of their employees. At Wipro, variable component in
pay at higher levels is between 30-50 percent whereas at
lower levels, it varies between 7-15 percent. At Infosys,
Variable pay varies from 10-30 percent, whereas at Polaris
Software, it varies from 5 percent at lower levels to 25
percent at senior-most level.
Many organizations today actively differentiate
high performers, and in the 2005-06 study high performers
received double the salary increase of an average
performer. Sectors also display differentiation in their
appetite for variable pay. Hewitt’s research also shows that
the services sectors offer variable pay more than capital
intensive sectors. The success of a services company lies in
its people, and therefore service-oriented organizations are
more willing to include a higher variable pay component in
their compensation structures
In India, some 10-15 percent of companies allow
executives to make their own mix of salary packages. Take
the case of Eicher Group which has adopted a flexible pay
system in which all managerial employees can design their
own compensation package based on their individual needs
like car, furnishings, etc. Eicher Group (HR) Head, Ramesh
Shankar believes that this flexibility in compensation
structuring helps satisfy individual needs better at different
stages in his career or life. Some other companies, such as
Marico and Accenture have similar approach.
The reward management system is playing
important role in employee retention.
Benefits
Employee benefit is an area in which employers
need to look while framing the retention strategy. Welfare
of employees is one factor which creates loyalty among
employees. Welfare such as free medical & transport
facilities, company accommodation, life insurance, savings
and investment plans, employee stock option plans (ESOP),
paid holidays, tax assistance, credit cards and the list is
endless.
Infosys has a group insurance scheme for its
13000 employees in Bangalore where each employee is
covered to the tune of Rs.10 Lakhs. The provider of this
policy is LIC. The insured employees did not have to
undergo any prior medical examination. It is also the first
Indian software company to have an Employee Stock Offer
Plan (ESOP). Under the plan, about 110 top performers
have been offered 152,000 warrants, which can be
exercised to buy the company’s shares within the lock in
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
69 This work is licensed under Creative Commons Attribution 4.0 International License.
period of five years. Infosys provides Bus Service from
Bangalore city to the Infosys Office to protect employees
from a 60-minute harrowing drive through the crowded
roads
TCS offers a number of benefits to employees
such as loans for housing, personal computers, durable
consumer goods, and automobiles; medical insurance for
employees and family; Air fares for spouse and two
children; medical insurance coverage; bank extension
counters; welfare trust facilitation for higher education and
retirement benefits
Learning and Growth
The importance of Learning & Growth in order to
retain ambitious employees cannot be undermined
especially when the competitors have a well established
training system. Learning and growth opportunity not only
attracts and retain talented workforce but also develops
competitive skill among them. According to Prashant
Sachdeva, Business Analyst, IT & Research, Elixir Web
Solutions, “With the face of business changing &
knowledge worker increasing in almost all organizations,
the factor that currently retain people are opportunities to
learn and grow.”
TCS invests about 4 percent of its annual
revenues in Learning and Development, to build
competency capital within the company in cutting edge
technologies, domain and functional areas. TCS strive to
create leaders at all levels of the organization. TCS offer a
basket of Leadership Development Programs. TCS also
encourages associates to attend various programs at premier
B Schools across the globe.
Work Culture
Work atmosphere is one of the factors which
influences employee retention at organization. Factors such
as organizational climate & culture, communication system,
participation & recognition, recreation, etc form the
working environment etc are the major factors which binds
employees long term relationship with organization. A
healthy corporate culture of caring for the workers,
community and environment will strengthen the social-
spiritual values, leading to a positive work climate of
empowered and supported workers.
TCS has an open door policy in which any
employee can approach the CEO or the top management
with work related problems. Open-house sessions and
engagement programmes allow the employees at all levels
meet and discuss various work issues. Employees can also
take part in one-on-one sessions where they can interact
privately with senior management.
At Infosys, InSync is the internal communication
program focused on keeping the Infoscion abreast of latest
corporate and business developments, and equipping him or
her to be a "brand ambassador" for the company. Feedback
system also plays a major role in building positive work
culture in organizations as it provides a channel by which
the problems and grievances can be heard by the top
management and also a medium by which top management
can be updated by the market conditions by the employees
which are indirect contact with the market.
Maintaining Image
If organization has a better image it can attract
talented workforce.. Identifying the talented employees,
provide excellent package and challenging environment are
the indicators of corporate image.
Conduct Exit Interviews
Organizations strictly conduct exit interviews and
identity reasons for turnover. The information must be
ideally used to plan good retention strategy.
Concentrate on Development
Organizations adopt new policies and technologies
for development. Give freedom to new employees and build
a long-term relationship.
Employee Information
Organizations must maintain employee
information; particularly new employees should be kept in
mind even after the recruitment process over. This
information will help in identifying their strengths and
setting targets.
Employee Engagement: A Tool for Talent Management
For several years now, 'employee engagement' has
been a hot topic in corporate circles. It's a buzz phrase that
has captured the attention of workplace observers and HR
managers, as well as the executive suite. Employee
engagement is the key driver in enhancing productivity of
organization by attracting and retaining talented workforce.
Productivity of organization is measured not only in terms
of employee satisfaction but in terms of employee
commitment to their organization. Employees are said to be
engaged when they show positive attitude towards their
work.
Employee engagement is the level of commitment
and involvement an employee has towards their
organization and its values. An engaged employee is aware
of business context, and works with colleagues to improve
performance within the job for the benefit of the
organization. The organization must work to develop and
nurture engagement, which requires a two-way relationship
between employer and employee.’ Thus Employee
engagement is a barometer that determines the association
of a person with the organization.
Several research and studies were conducted on
employee engagement issue. Different studies have come
up with different issues. Some of them have concentrated
on cognitive issue and some are on emotional issue. Some
studies have accepted on following as key drivers in
employee engagement issue.
 Trust and integrity– how well managers
communicate and 'walk the talk'.
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
70 This work is licensed under Creative Commons Attribution 4.0 International License.
 Nature of the job –Is it mentally stimulating day-
to-day?
 Line of sight between employee performance and
company performance – Does the employee
understand how their work contributes to the
company's performance?
 Career Growth opportunities –Are there future
opportunities for growth?
 Pride about the company – How much self-esteem
does the employee feel by being associated with
their company?
 Coworkers/team members – significantly influence
one's level of engagement
 Employee development – Is the company making
an effort to develop the employee's skills?
 Relationship with one's manager – Does the
employee value his or her relationship with his or
her manager?
Many studies have highlighted different issues, but all
of them have considered “direct relation with manager” as
the most influencing factor in keeping employee engaged.
Some studies have listed out following points:
 Provide variety: Tedious, repetitive tasks can
cause burn out and boredom over time. If the job
requires repetitive tasks, look for ways to
introduce variety by rotating duties, areas of
responsibility, delivery of service etc
 Conduct periodic meetings with employees to
communicate good news, challenges and easy-to-
understand company financial information.
Managers and supervisors should be comfortable
communicating with their staff, and able to give
and receive constructive feedback.
 Indulge in employee deployment if he feels he is
not on the right job. Provide an open environment.
 Communicate openly and clearly about what's
expected of employees at every level - your vision,
priorities, success measures, etc.
 Get to know employees' interests, goals, stressors,
etc. Show an interest in their well-being and do
what it takes enable them to feel more fulfilled and
better balanced in work and life.
 Celebrate individual, team and organizational
successes. Catch employees doing something
right, and say "Thank you."
 Be consistent in your support for engagement
initiatives. If you start one and then drop it, your
efforts may backfire. There's a strong connection
between employees' commitment to an initiative
and management's commitment to supporting it.
Some of the advantages of Engaged employees are:
 Engaged employees will stay with the company,
be an advocate of the company and its products
and services, and contribute to bottom line
business success.
 They will normally perform better and are more
motivated.
 There is a significant link between employee
engagement and profitability.
 They form an emotional connection with the
company. This impacts their attitude towards the
company’s clients, and thereby improves customer
satisfaction and service levels
 It builds passion, commitment and alignment with
the organization’s strategies and goals
 Increases employees’ trust in the organization
 Creates a sense of loyalty in a competitive
environment
 Provides a high-energy working environment
 Boosts business growth
 Makes the employees effective brand ambassadors
for the company
 A highly engaged employee will consistently
deliver beyond expectations. In the workplace
research on employee engagement (Harter,
Schmidt & Hayes)
All these above points clearly show that employee
engagement is one of strategy in talent management.
Organization can develop a strategic model to manage
talent.
Employer
Branding
Talent
Attraction
Talent
Sourcing
Talent
Development
Talent
Retention
Talent
Management
International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-10, Issue-1 (February 2020)
www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12
71 This work is licensed under Creative Commons Attribution 4.0 International License.
IV. CONCLUSION
Talent management is identified as one of the most
HR challenge to critically meet the business demands
beyond tomorrow. It is indispensable for survival and
sustainable development of any business organization.
Neglect of talent management is suicidal for the
organization particularly in the current business scenario of
high competition.
In present talent-hungry marketplace, one of the
greatest challenges that organizations are facing is to
successfully attract, assess, train and retain talented
employees. Talent Management is the end-to-end process of
planning, recruiting, developing, managing, and
compensating employees throughout the organization.
Human resource is the only one resource which makes any
organization different from others. It creates competitive
advantage and also helps to build sustainable growth for
corporate. Corporate throughout the globe are also facing
the problem of talent shortage. Many jobs do not have right
employees with proper skill sets. Attracting a right talent
and also retaining them in a corporate is a greatest
challenge for today’s HR managers. Therefore talent
management is a great and complex task for mangers.
Employer branding and employee engagement can be used
as a strategic tool to retain and mange talents.
In the “War of Talents”, Talent has won. Therefore
Corporate today consider Talent Management as a Strategic
weapon in the battle of Talents.
REFERENCES
[1] Amit Madan. (2006). Human resource department,
Container corporation of India Ltd. The Changing Face of
Talent Management. Available at:
https://rocketreach.co/amit-madan-email_21894631.
[2] Brakeley, H., Cheese, P., & Clinton, D. (2004). The
high-performance workforce study 2004. Available at:
www.accenture.com.
[3] Deloitte. (2005). 2005 talent management strategies
survey. Available at: www.deloitte.com.
[4] Halder, U. K. & Juthika, S. (2012). Human resource
management. New Delhi, India: Oxford University Press.
[5] www.humancapitalinstitute.org.
[6] Josh, B. (2006). Talent management. Available at:
www.researchpublish.com.
[7] https://autoassembly.mckinsey.com/.
[8] Madeline Laurano. (2009). Talent acquisition trends.
Available at: https://www.ere.net/author/madeline-laurano/.
[9] R.Nancy, L. (2006). Talent management: Driver for
organisational success. Available at:
https://docplayer.net/786555-Talent-management-driver-
for-organizational-success-by-nancy-r-lockwood-sphr-gphr-
m-a-manager-hr-content-program.html.
[10] SHRM. (2006). Talent management survey report.
Available at: www.shrm.org/surveys.
[11] Suratkumari, M. & B, J. (2012). Talent Management of
south central railways. Journal of Commerce and
Management Thought, II(2).
[12] Tucker, E., Kao, T., & Verma, N. (2005). Next-
generation talent management: Insights on how workforce
trends are changing the face of talent management.
Available at: www.hewitt.com.
[13] Waheed, S., Abdiilhalim, Z., & Halil, Z. (2012). Talent
management in four stages. Available at:
http://seap.usv.ro/annals/ojs/index.php/annals/article/viewA
rticle/464.

Más contenido relacionado

La actualidad más candente

Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...
Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...
Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...ijtsrd
 
Talent management and its impact on employee engagement
Talent management and its impact on employee engagementTalent management and its impact on employee engagement
Talent management and its impact on employee engagementShoaib Lalani
 
Fast future the Future of HR Whitepaper
Fast future   the Future of HR WhitepaperFast future   the Future of HR Whitepaper
Fast future the Future of HR WhitepaperRohit Talwar
 
Human resource development strategy in a small to medium business enterprise
Human resource development strategy in a small to medium business enterpriseHuman resource development strategy in a small to medium business enterprise
Human resource development strategy in a small to medium business enterpriseService_supportAssignment
 
deloitte-high-impact-hr-operating-model
deloitte-high-impact-hr-operating-modeldeloitte-high-impact-hr-operating-model
deloitte-high-impact-hr-operating-modelKyle Ku
 
WTW-Piramal Case Study_PeopleMatters
WTW-Piramal Case Study_PeopleMatters WTW-Piramal Case Study_PeopleMatters
WTW-Piramal Case Study_PeopleMatters Shatrunjay Krishna
 
Impact of lpg on human resource department a case study of Indian industries
Impact of lpg on human resource department a case study of Indian industriesImpact of lpg on human resource department a case study of Indian industries
Impact of lpg on human resource department a case study of Indian industriesDebre Tabor University Ethiopia
 
Talent management and employee performancegrowing
Talent management and employee performancegrowingTalent management and employee performancegrowing
Talent management and employee performancegrowingAlexander Decker
 
Making talent management a priority of hr
Making talent management a priority of hrMaking talent management a priority of hr
Making talent management a priority of hrVoice Malaysia
 
Talent management in ibm
Talent management in ibmTalent management in ibm
Talent management in ibmSukalpa Das
 
Chapter 1. Fundamental Human resource Management
Chapter 1. Fundamental Human resource Management Chapter 1. Fundamental Human resource Management
Chapter 1. Fundamental Human resource Management abuun1
 
Talent Management Principles In Performance Management
Talent Management Principles In Performance ManagementTalent Management Principles In Performance Management
Talent Management Principles In Performance ManagementLakesia Wright
 
HRM Planning Final Paper.rv2
HRM Planning Final Paper.rv2HRM Planning Final Paper.rv2
HRM Planning Final Paper.rv2mandy cornell
 
PM Talent Management wp
PM Talent Management wpPM Talent Management wp
PM Talent Management wpColin Turner
 
Talent management
Talent managementTalent management
Talent managementSwetaSaroha
 
Importance of Human Resource Management in 21st Century
Importance of Human Resource Management in 21st  CenturyImportance of Human Resource Management in 21st  Century
Importance of Human Resource Management in 21st Century12inch
 
Strategic human resource management
Strategic human resource managementStrategic human resource management
Strategic human resource managementBhavi Bhatia
 

La actualidad más candente (20)

Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...
Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...
Focus on Human Resource as Improvement of the Flexible Manufacturing Operatio...
 
Talent management and its impact on employee engagement
Talent management and its impact on employee engagementTalent management and its impact on employee engagement
Talent management and its impact on employee engagement
 
Fast future the Future of HR Whitepaper
Fast future   the Future of HR WhitepaperFast future   the Future of HR Whitepaper
Fast future the Future of HR Whitepaper
 
Human resource development strategy in a small to medium business enterprise
Human resource development strategy in a small to medium business enterpriseHuman resource development strategy in a small to medium business enterprise
Human resource development strategy in a small to medium business enterprise
 
deloitte-high-impact-hr-operating-model
deloitte-high-impact-hr-operating-modeldeloitte-high-impact-hr-operating-model
deloitte-high-impact-hr-operating-model
 
WTW-Piramal Case Study_PeopleMatters
WTW-Piramal Case Study_PeopleMatters WTW-Piramal Case Study_PeopleMatters
WTW-Piramal Case Study_PeopleMatters
 
Impact of lpg on human resource department a case study of Indian industries
Impact of lpg on human resource department a case study of Indian industriesImpact of lpg on human resource department a case study of Indian industries
Impact of lpg on human resource department a case study of Indian industries
 
Talent management and employee performancegrowing
Talent management and employee performancegrowingTalent management and employee performancegrowing
Talent management and employee performancegrowing
 
Making talent management a priority of hr
Making talent management a priority of hrMaking talent management a priority of hr
Making talent management a priority of hr
 
Talent management in ibm
Talent management in ibmTalent management in ibm
Talent management in ibm
 
Chapter 1. Fundamental Human resource Management
Chapter 1. Fundamental Human resource Management Chapter 1. Fundamental Human resource Management
Chapter 1. Fundamental Human resource Management
 
Role of leaders in talent management
Role of leaders in talent managementRole of leaders in talent management
Role of leaders in talent management
 
Talent Management Principles In Performance Management
Talent Management Principles In Performance ManagementTalent Management Principles In Performance Management
Talent Management Principles In Performance Management
 
HRM Planning Final Paper.rv2
HRM Planning Final Paper.rv2HRM Planning Final Paper.rv2
HRM Planning Final Paper.rv2
 
Talent management nestle
Talent management nestleTalent management nestle
Talent management nestle
 
PM Talent Management wp
PM Talent Management wpPM Talent Management wp
PM Talent Management wp
 
Talent management
Talent managementTalent management
Talent management
 
Importance of Human Resource Management in 21st Century
Importance of Human Resource Management in 21st  CenturyImportance of Human Resource Management in 21st  Century
Importance of Human Resource Management in 21st Century
 
Ssrn id2007503
Ssrn id2007503Ssrn id2007503
Ssrn id2007503
 
Strategic human resource management
Strategic human resource managementStrategic human resource management
Strategic human resource management
 

Similar a A Study on Talent Management and its Impact on Organization Performance- An Empirical Review

A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...
A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...
A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...IAEME Publication
 
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...IAEME Publication
 
Antecedents And Outcomes Of Effective Talent Management Practices A Review O...
Antecedents And Outcomes Of Effective Talent Management Practices  A Review O...Antecedents And Outcomes Of Effective Talent Management Practices  A Review O...
Antecedents And Outcomes Of Effective Talent Management Practices A Review O...Jill Brown
 
HR Strategies to Retain Employees and Building Their Competency
HR Strategies to Retain Employees and Building Their CompetencyHR Strategies to Retain Employees and Building Their Competency
HR Strategies to Retain Employees and Building Their Competencyijtsrd
 
Hci librarypaper 79300
Hci librarypaper 79300Hci librarypaper 79300
Hci librarypaper 79300Rye Cruz
 
A Case Study On Talent Acquisition At Organisations
A Case Study On Talent Acquisition At OrganisationsA Case Study On Talent Acquisition At Organisations
A Case Study On Talent Acquisition At OrganisationsSara Alvarez
 
A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...
A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...
A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...Emma Burke
 
CHAITALI FINAL RESEARCH PROJECT
CHAITALI FINAL RESEARCH PROJECTCHAITALI FINAL RESEARCH PROJECT
CHAITALI FINAL RESEARCH PROJECTChaitali Deb
 
Employee Profile & Perception of Talent Management in Indian Organizations
Employee Profile & Perception of Talent Management in Indian OrganizationsEmployee Profile & Perception of Talent Management in Indian Organizations
Employee Profile & Perception of Talent Management in Indian Organizationsiosrjce
 
Talent management
Talent managementTalent management
Talent managementchitrini13
 
Hr leadership questionnaire
Hr leadership questionnaireHr leadership questionnaire
Hr leadership questionnaireBilcareltd
 
EMPLOYEENGAGMENT AS AN OUTCOME OF TRAINING
EMPLOYEENGAGMENT AS AN OUTCOME OF TRAININGEMPLOYEENGAGMENT AS AN OUTCOME OF TRAINING
EMPLOYEENGAGMENT AS AN OUTCOME OF TRAININGprj_publication
 
A Study On Talent Management Strategies In IT Industry
A Study On Talent Management Strategies In IT IndustryA Study On Talent Management Strategies In IT Industry
A Study On Talent Management Strategies In IT IndustryDustin Pytko
 
How The Strategic Application Of Hr Practices Improves...
How The Strategic Application Of Hr Practices Improves...How The Strategic Application Of Hr Practices Improves...
How The Strategic Application Of Hr Practices Improves...Mary Price
 
An Empirical Study of Human Capital Management and Employee Capabilities
An Empirical Study of Human Capital Management and Employee CapabilitiesAn Empirical Study of Human Capital Management and Employee Capabilities
An Empirical Study of Human Capital Management and Employee Capabilitiesijtsrd
 
A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...
A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...
A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...Naomi Hansen
 

Similar a A Study on Talent Management and its Impact on Organization Performance- An Empirical Review (20)

A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...
A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...
A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...
 
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...
 
Antecedents And Outcomes Of Effective Talent Management Practices A Review O...
Antecedents And Outcomes Of Effective Talent Management Practices  A Review O...Antecedents And Outcomes Of Effective Talent Management Practices  A Review O...
Antecedents And Outcomes Of Effective Talent Management Practices A Review O...
 
HR Strategies to Retain Employees and Building Their Competency
HR Strategies to Retain Employees and Building Their CompetencyHR Strategies to Retain Employees and Building Their Competency
HR Strategies to Retain Employees and Building Their Competency
 
Hci librarypaper 79300
Hci librarypaper 79300Hci librarypaper 79300
Hci librarypaper 79300
 
11576 34760-1-sm
11576 34760-1-sm11576 34760-1-sm
11576 34760-1-sm
 
A Case Study On Talent Acquisition At Organisations
A Case Study On Talent Acquisition At OrganisationsA Case Study On Talent Acquisition At Organisations
A Case Study On Talent Acquisition At Organisations
 
Talent Management
Talent ManagementTalent Management
Talent Management
 
A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...
A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...
A Comprehensive Study Of Talent Management Process Adopted By Tata Consultanc...
 
CHAITALI FINAL RESEARCH PROJECT
CHAITALI FINAL RESEARCH PROJECTCHAITALI FINAL RESEARCH PROJECT
CHAITALI FINAL RESEARCH PROJECT
 
Employee Profile & Perception of Talent Management in Indian Organizations
Employee Profile & Perception of Talent Management in Indian OrganizationsEmployee Profile & Perception of Talent Management in Indian Organizations
Employee Profile & Perception of Talent Management in Indian Organizations
 
7
77
7
 
Talent management
Talent managementTalent management
Talent management
 
Hr leadership questionnaire
Hr leadership questionnaireHr leadership questionnaire
Hr leadership questionnaire
 
EMPLOYEENGAGMENT AS AN OUTCOME OF TRAINING
EMPLOYEENGAGMENT AS AN OUTCOME OF TRAININGEMPLOYEENGAGMENT AS AN OUTCOME OF TRAINING
EMPLOYEENGAGMENT AS AN OUTCOME OF TRAINING
 
A Study On Talent Management Strategies In IT Industry
A Study On Talent Management Strategies In IT IndustryA Study On Talent Management Strategies In IT Industry
A Study On Talent Management Strategies In IT Industry
 
Mgt Task 1 Part 1
Mgt Task 1 Part 1Mgt Task 1 Part 1
Mgt Task 1 Part 1
 
How The Strategic Application Of Hr Practices Improves...
How The Strategic Application Of Hr Practices Improves...How The Strategic Application Of Hr Practices Improves...
How The Strategic Application Of Hr Practices Improves...
 
An Empirical Study of Human Capital Management and Employee Capabilities
An Empirical Study of Human Capital Management and Employee CapabilitiesAn Empirical Study of Human Capital Management and Employee Capabilities
An Empirical Study of Human Capital Management and Employee Capabilities
 
A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...
A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...
A STUDY ON THE CONCEPT OF PERFORMANCE MANAGEMENT SYSTEM IN IT INDUSTRY -LITER...
 

Más de Dr. Amarjeet Singh

Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...
Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...
Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...Dr. Amarjeet Singh
 
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., Bhilad
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., BhiladA Case Study on Small Town Big Player – Enjay IT Solutions Ltd., Bhilad
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., BhiladDr. Amarjeet Singh
 
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...Dr. Amarjeet Singh
 
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...Dr. Amarjeet Singh
 
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...Factors Influencing Ownership Pattern and its Impact on Corporate Performance...
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...Dr. Amarjeet Singh
 
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...Dr. Amarjeet Singh
 
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...A Study on Factors Influencing the Financial Performance Analysis Selected Pr...
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...Dr. Amarjeet Singh
 
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...An Empirical Analysis of Financial Performance of Selected Oil Exploration an...
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...Dr. Amarjeet Singh
 
A Study on Derivative Market in India
A Study on Derivative Market in IndiaA Study on Derivative Market in India
A Study on Derivative Market in IndiaDr. Amarjeet Singh
 
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...Dr. Amarjeet Singh
 
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological Fluid
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological FluidAnalytical Mechanics of Magnetic Particles Suspended in Magnetorheological Fluid
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological FluidDr. Amarjeet Singh
 
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?Crypto-Currencies: Can Investors Rely on them as Investment Avenue?
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?Dr. Amarjeet Singh
 
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...Dr. Amarjeet Singh
 
Surrogacy Ethical and Legal Implication in India
Surrogacy Ethical and Legal Implication in IndiaSurrogacy Ethical and Legal Implication in India
Surrogacy Ethical and Legal Implication in IndiaDr. Amarjeet Singh
 
Haryana's Honour Killings: A Social and Legal Point of View
Haryana's Honour Killings: A Social and Legal Point of ViewHaryana's Honour Killings: A Social and Legal Point of View
Haryana's Honour Killings: A Social and Legal Point of ViewDr. Amarjeet Singh
 
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...Dr. Amarjeet Singh
 
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...Dr. Amarjeet Singh
 
Capacity Expansion Banes in Indian Steel Industry
Capacity Expansion Banes in Indian Steel IndustryCapacity Expansion Banes in Indian Steel Industry
Capacity Expansion Banes in Indian Steel IndustryDr. Amarjeet Singh
 
Metamorphosing Indian Blockchain Ecosystem
Metamorphosing Indian Blockchain EcosystemMetamorphosing Indian Blockchain Ecosystem
Metamorphosing Indian Blockchain EcosystemDr. Amarjeet Singh
 
Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...
Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...
Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...Dr. Amarjeet Singh
 

Más de Dr. Amarjeet Singh (20)

Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...
Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...
Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...
 
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., Bhilad
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., BhiladA Case Study on Small Town Big Player – Enjay IT Solutions Ltd., Bhilad
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., Bhilad
 
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...
 
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...
 
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...Factors Influencing Ownership Pattern and its Impact on Corporate Performance...
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...
 
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...
 
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...A Study on Factors Influencing the Financial Performance Analysis Selected Pr...
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...
 
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...An Empirical Analysis of Financial Performance of Selected Oil Exploration an...
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...
 
A Study on Derivative Market in India
A Study on Derivative Market in IndiaA Study on Derivative Market in India
A Study on Derivative Market in India
 
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...
 
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological Fluid
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological FluidAnalytical Mechanics of Magnetic Particles Suspended in Magnetorheological Fluid
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological Fluid
 
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?Crypto-Currencies: Can Investors Rely on them as Investment Avenue?
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?
 
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...
 
Surrogacy Ethical and Legal Implication in India
Surrogacy Ethical and Legal Implication in IndiaSurrogacy Ethical and Legal Implication in India
Surrogacy Ethical and Legal Implication in India
 
Haryana's Honour Killings: A Social and Legal Point of View
Haryana's Honour Killings: A Social and Legal Point of ViewHaryana's Honour Killings: A Social and Legal Point of View
Haryana's Honour Killings: A Social and Legal Point of View
 
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...
 
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...
 
Capacity Expansion Banes in Indian Steel Industry
Capacity Expansion Banes in Indian Steel IndustryCapacity Expansion Banes in Indian Steel Industry
Capacity Expansion Banes in Indian Steel Industry
 
Metamorphosing Indian Blockchain Ecosystem
Metamorphosing Indian Blockchain EcosystemMetamorphosing Indian Blockchain Ecosystem
Metamorphosing Indian Blockchain Ecosystem
 
Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...
Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...
Data Analysis study based on Consumer Behavior on Soft Drinks Produced by Coc...
 

Último

Forget Fiverr : Fractional Employment the ins and outs
Forget Fiverr : Fractional Employment the ins and outsForget Fiverr : Fractional Employment the ins and outs
Forget Fiverr : Fractional Employment the ins and outsStephan Koning
 
Analyzing and Monitoring Processes through Time Value Mapping
Analyzing and Monitoring Processes through Time Value MappingAnalyzing and Monitoring Processes through Time Value Mapping
Analyzing and Monitoring Processes through Time Value MappingCIToolkit
 
Roadway to GDSC- Session 1 Powerpoint Presentation
Roadway to GDSC- Session 1 Powerpoint PresentationRoadway to GDSC- Session 1 Powerpoint Presentation
Roadway to GDSC- Session 1 Powerpoint Presentationgdscghrcem
 
Test_document_upload_SQL_minimum_fourteen
Test_document_upload_SQL_minimum_fourteenTest_document_upload_SQL_minimum_fourteen
Test_document_upload_SQL_minimum_fourteenolgaz9
 
Mapping Customer Expectations Through Kano Analysis
Mapping Customer Expectations Through Kano AnalysisMapping Customer Expectations Through Kano Analysis
Mapping Customer Expectations Through Kano AnalysisCIToolkit
 
Improving Operations through Observation and Gemba Walks
Improving Operations through Observation and Gemba WalksImproving Operations through Observation and Gemba Walks
Improving Operations through Observation and Gemba WalksCIToolkit
 
From Command Line to Reporting Line: The Diary of a First-Time EM
From Command Line to Reporting Line: The Diary of a First-Time EMFrom Command Line to Reporting Line: The Diary of a First-Time EM
From Command Line to Reporting Line: The Diary of a First-Time EMGloria Chow
 
Value Stream Map: A Visual Approach to Process Optimization
Value Stream Map: A Visual Approach to Process OptimizationValue Stream Map: A Visual Approach to Process Optimization
Value Stream Map: A Visual Approach to Process OptimizationCIToolkit
 
Performance Management Notes for MBA Students
Performance Management Notes for MBA StudentsPerformance Management Notes for MBA Students
Performance Management Notes for MBA StudentsManickam Gajapathy
 
How the Heck do you Teach Level Design? Educating in the Studio
How the Heck do you Teach Level Design? Educating in the StudioHow the Heck do you Teach Level Design? Educating in the Studio
How the Heck do you Teach Level Design? Educating in the StudioChristopher Totten
 
A3 Thinking: A Structured Approach to Problem Solving
A3 Thinking: A Structured Approach to Problem SolvingA3 Thinking: A Structured Approach to Problem Solving
A3 Thinking: A Structured Approach to Problem SolvingCIToolkit
 
HR for Non HR_Performance Management System
HR for Non HR_Performance Management SystemHR for Non HR_Performance Management System
HR for Non HR_Performance Management Systemazischin
 
HR for Non HR_Learning and Development.
HR for Non HR_Learning  and Development.HR for Non HR_Learning  and Development.
HR for Non HR_Learning and Development.azischin
 
The Role of Fishbone Diagram in Analyzing Cause and Effect
The Role of Fishbone Diagram in Analyzing Cause and EffectThe Role of Fishbone Diagram in Analyzing Cause and Effect
The Role of Fishbone Diagram in Analyzing Cause and EffectCIToolkit
 
An Important Step Toward Process Improvement
An Important Step Toward Process ImprovementAn Important Step Toward Process Improvement
An Important Step Toward Process ImprovementCIToolkit
 
Empowering Resilience & Strategic Growth: Insights for Emerging Leaders
Empowering Resilience & Strategic Growth: Insights for Emerging LeadersEmpowering Resilience & Strategic Growth: Insights for Emerging Leaders
Empowering Resilience & Strategic Growth: Insights for Emerging LeadersMahmoud Rabie
 
Making Sense of Multiple Ideas with Affinity Diagrams
Making Sense of Multiple Ideas with Affinity DiagramsMaking Sense of Multiple Ideas with Affinity Diagrams
Making Sense of Multiple Ideas with Affinity DiagramsCIToolkit
 
Tackling Fake Agility w/ Johanna Rothman
Tackling Fake Agility w/ Johanna RothmanTackling Fake Agility w/ Johanna Rothman
Tackling Fake Agility w/ Johanna RothmanStefan Wolpers
 

Último (20)

Forget Fiverr : Fractional Employment the ins and outs
Forget Fiverr : Fractional Employment the ins and outsForget Fiverr : Fractional Employment the ins and outs
Forget Fiverr : Fractional Employment the ins and outs
 
The Truth About Influence
The Truth About InfluenceThe Truth About Influence
The Truth About Influence
 
Capacity2 - Briefing and Facilitation training slides
Capacity2 - Briefing and Facilitation training slidesCapacity2 - Briefing and Facilitation training slides
Capacity2 - Briefing and Facilitation training slides
 
Analyzing and Monitoring Processes through Time Value Mapping
Analyzing and Monitoring Processes through Time Value MappingAnalyzing and Monitoring Processes through Time Value Mapping
Analyzing and Monitoring Processes through Time Value Mapping
 
Roadway to GDSC- Session 1 Powerpoint Presentation
Roadway to GDSC- Session 1 Powerpoint PresentationRoadway to GDSC- Session 1 Powerpoint Presentation
Roadway to GDSC- Session 1 Powerpoint Presentation
 
Test_document_upload_SQL_minimum_fourteen
Test_document_upload_SQL_minimum_fourteenTest_document_upload_SQL_minimum_fourteen
Test_document_upload_SQL_minimum_fourteen
 
Mapping Customer Expectations Through Kano Analysis
Mapping Customer Expectations Through Kano AnalysisMapping Customer Expectations Through Kano Analysis
Mapping Customer Expectations Through Kano Analysis
 
Improving Operations through Observation and Gemba Walks
Improving Operations through Observation and Gemba WalksImproving Operations through Observation and Gemba Walks
Improving Operations through Observation and Gemba Walks
 
From Command Line to Reporting Line: The Diary of a First-Time EM
From Command Line to Reporting Line: The Diary of a First-Time EMFrom Command Line to Reporting Line: The Diary of a First-Time EM
From Command Line to Reporting Line: The Diary of a First-Time EM
 
Value Stream Map: A Visual Approach to Process Optimization
Value Stream Map: A Visual Approach to Process OptimizationValue Stream Map: A Visual Approach to Process Optimization
Value Stream Map: A Visual Approach to Process Optimization
 
Performance Management Notes for MBA Students
Performance Management Notes for MBA StudentsPerformance Management Notes for MBA Students
Performance Management Notes for MBA Students
 
How the Heck do you Teach Level Design? Educating in the Studio
How the Heck do you Teach Level Design? Educating in the StudioHow the Heck do you Teach Level Design? Educating in the Studio
How the Heck do you Teach Level Design? Educating in the Studio
 
A3 Thinking: A Structured Approach to Problem Solving
A3 Thinking: A Structured Approach to Problem SolvingA3 Thinking: A Structured Approach to Problem Solving
A3 Thinking: A Structured Approach to Problem Solving
 
HR for Non HR_Performance Management System
HR for Non HR_Performance Management SystemHR for Non HR_Performance Management System
HR for Non HR_Performance Management System
 
HR for Non HR_Learning and Development.
HR for Non HR_Learning  and Development.HR for Non HR_Learning  and Development.
HR for Non HR_Learning and Development.
 
The Role of Fishbone Diagram in Analyzing Cause and Effect
The Role of Fishbone Diagram in Analyzing Cause and EffectThe Role of Fishbone Diagram in Analyzing Cause and Effect
The Role of Fishbone Diagram in Analyzing Cause and Effect
 
An Important Step Toward Process Improvement
An Important Step Toward Process ImprovementAn Important Step Toward Process Improvement
An Important Step Toward Process Improvement
 
Empowering Resilience & Strategic Growth: Insights for Emerging Leaders
Empowering Resilience & Strategic Growth: Insights for Emerging LeadersEmpowering Resilience & Strategic Growth: Insights for Emerging Leaders
Empowering Resilience & Strategic Growth: Insights for Emerging Leaders
 
Making Sense of Multiple Ideas with Affinity Diagrams
Making Sense of Multiple Ideas with Affinity DiagramsMaking Sense of Multiple Ideas with Affinity Diagrams
Making Sense of Multiple Ideas with Affinity Diagrams
 
Tackling Fake Agility w/ Johanna Rothman
Tackling Fake Agility w/ Johanna RothmanTackling Fake Agility w/ Johanna Rothman
Tackling Fake Agility w/ Johanna Rothman
 

A Study on Talent Management and its Impact on Organization Performance- An Empirical Review

  • 1. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 64 This work is licensed under Creative Commons Attribution 4.0 International License. A Study on Talent Management and its Impact on Organization Performance- An Empirical Review Prof. Pushpa Hongal1 and Dr. Uttamkumar Kinange2 1 Assistant Professor, MBA Department, Kousali Institute of Management Studies, Karnatak University, Dharwad, INDIA 2 Professor, MBA Department, Kousali Institute of Management Studies, Karnatak University, Dharwad, INDIA 1 Corresponding Author: hongal.pushpa@gmail.com ABSTRACT These days organization’s talent is its primary source of competitive advantage. Performance of organization depends upon performance of its employees. If employees of an organization possess unique competence, that will differentiate them from their competitors. In this competitive environment retention of talented workforce is a major task for HR managers along with acquisition. Talent management is a very complex and critical task. Right Talent acquisition makes organization strategy more strong. The current global economic situation has increased overall jobseekers in employment market worldwide, but there is still notable talent shortage in different sectors and different countries, this leads to increase the problem of “Talent Mismatch”.As today’s corporate world requires a person with multitasking skill, talent acquisition is becoming very difficult. As a result, finding the “right” person for a particular job is becoming more challenging. Not only acquisition even retention of talented workforce has become greatest challenge for organization. Today’s changing landscape of business requires its HR to act more strategically to build employee engagement which is a great tool for talent management. Talent Management focuses on how individuals enter; move up across or out of the organization. Talent Management will succeed with the support of strong organization structure. As better talent can change the future of business, Talent Management has to be given predominant role in organization. If organization implements talent management strategies effectively, that enhances employee’s engagement which in turn helps to improve organization performance. Higher the employee engagement higher the productivity. This present study aims to identify the relationship between talent management and organization performance. This study is based on empirical research evidence build by literature reviews carried out in this direction. Researcher is intended to use different articles, research papers and literatures in order to identify the positive relationship between talent management and organization performance. This empirical research paper will provide insights to HR managers to build Talent management as a Strategic tool to build employee engagement and thereby improving organization performance. Keywords-- Talent Retention, Employee Engagement, Organization Performance, Competencies I. INTRODUCTION The war of Talent is on….. “Companies must therefore make talent management a top priority – create and continuously refine their employee value proposition, and source and develop talent systematically” (McKinsey & Co.) Yes the war of Talent Management has begun... Talent is a primary source of competitive advantage for today’s corporate world. The rise in knowledge economy has resulted in more focus on acquiring and retaining talented workforce. The best talent is most critical to achieve best results. An effective talent management system builds the winning organization by proper utilization of strategies framed at different levels. Winning organization’s competitive advantage depends upon the ability to effectively hire, retain, deploy and engage talent at all hierarchical levels. Research proves that organization can build its sustainable competitive advantage by investing in talented workforce today. Organizations intending to apply talent management have to strategically analyze its relevance. II. OBJECTIVE AND METHODOLOGY Objective of this paper is to understand talent management, importance of talent management in leveraging competitive advantage of organization. This paper also provides insight on how talent management initiatives can complement organization’s recruitment and retention policy. “A Study on Talent Management and its impact on Organization Performance- an Empirical Review” This study aims at understanding the importance of talent management practice in improving organization performance. As in today’s world, identifying right talent, retaining them is the biggest challenge. Success of organization depend upon organizations ability to acquire, retain and develop right talent. This study is based on secondary data, collected from different sources such as books, articles, websites etc.
  • 2. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 65 This work is licensed under Creative Commons Attribution 4.0 International License. Limitations of the Study This present study is based only on secondary data and time spent for conducting this research is too short and using of non statistical tools to analyze and interpret the data may not be applicable to whole market. Talent management is defined by many authors. Such as: “Talent management involves individual and organizational development in response to a changing and complex operating environment. It includes the creation and maintenance of a supportive, people oriented organization culture.” “Talent Management basically requires proper diagnose of the current employee attitudes and organizational culture and than targeting the problem through a suitable strategy”. “How organization can make the best use of talent of people they employ” “A conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs.” All above definitions clearly say that talent management is one of the strategic activity which deals with not only attracting but retaining qualified workforce. In globalize market environment it is really very difficult for HR managers to manage talent in most effective manner. Talent management is considered as one of the very important challenge for HR mangers. Why Talent Management Is Gaining So Importance? The concept of talent management was not new. This concept has emerged in 1990s. But this function was not considered as more important for HR Managers. It was just considered as one of the additional responsibility to HR Manager. But in today’s competitive environment corporate have given special importance for talent management in their organization structure. Talent management is the most crucial factor in the development of organization. As  The best talent can change the future of business.  Talent management brings together Human resource and management initiatives.  Hewitt Best Employers in Asia 2005 study clearly shows that best employers record over 60 percent higher revenue growth, 30 percent higher growth in revenue per employee and half the recruitment costs of the rest.  Surveys have showed clearly that there is a relationship between best talent and better organization result. A 2007 study from the Hackett Group found companies that excel at managing talent post earnings that are 15 percent higher than peers  The context in which business operates has become more complex. New product, changing technology, new market etc. are already putting pressure on business. Talented workforce can easily solve all these problems.  According to a survey done by the All India Management Association (AIMA), 90 per cent of Indian companies have talent retention problems. In present talent hungry market place As many study’s clearly shows that today’s organization are facing problems regarding talent retention and acquisition, talent management has become one of the very important challenge for HR practioners. In the last decade many organizations have faced problems regarding acquiring the right talent, increasing retention rate, decreasing attrition etc. HR Manager has to diagnose the problem of employees and then can start treatment. For all these reasons Talent Management has become the greatest challenge for HR managers. Talent management basically involves acquiring, retaining and managing the best talent. Talent management in today’s context has become strategically important. Talent management refers to the process of integrating new workers, developing and retaining current workers and attracting highly skilled personnel to work for your company. It is indispensable for survival and sustainable development of any business organization In today’s organization talent Acquisition is considered as one of the most challenging problem for HR managers. To win this “War of Talents”, talent acquisition and talent retention is most important. III. TALENT ACQUISITION Many business executives have rightly said that talent is more critical factor in both domestic and global front. Talent acquisition is the long term strategic approach to Recruitment. It includes identifying, attracting, developing, engaging & retaining qualified workforce. Talent acquisition involves all the sub processes around finding, attracting and engaging highly talented individuals into your organization. Today more organizations have identified Talent acquisition as a strategy to align with organizational goal. The need for qualitative recruitment has become the essence of Talent management strategy. As per the survey conducted by Deloitte Consulting in the year 2007, the biggest challenge for organization was hiring the right people to meet their strategy objective and retaining them. Acquiring the right talent is always difficult. Talent should match job requirement and must be possible to achieve strategic goal of organization. Today world job market is facing problem of “Talent Shortage” [i.e. talent not matching job’s skill set and requirement]. No proper match between demand and supply of right talent. Today’s corporate require a person with multitasking skill. Organizations have developed more specific and refined
  • 3. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 66 This work is licensed under Creative Commons Attribution 4.0 International License. skill set for different positions. Organizations do change job descriptions depending upon situations and targets. This has made finding the perfect candidate for the right job more difficult. It clearly shows that not the availability of employee but availability of skilled employee is very difficult. Therefore organization has to consider “Talent Mismatch” as the most critical task. organiastions are also thinking to teach new skills and techniques to their prospective candidates. This makes Talent Acquisition task very difficult for HR managers. Acquisition of talent will not happen only at the time of need. Organization must follow this as a continuous process. Traditional recruitment occurs when a vacancy arises. When an individual resigns or retires or promoted. The organizations recruit under pressure. Compromised are made Talent acquisition is to get away from the “fill in the box” thinking to one that is more pro-active and much closer to building the skill sets required to achieve success. Traditional recruitment is just filling open positions. Talent acquisition takes a long term view of not only filling positions of today, but also identify talents for future openings. These future positions may be identifiable by looking at the succession management plan or by analyzing the attrition. Today, talent acquisition systems encompass the entire pre-hire life cycle, from candidate acquisition and interview management to contact management and company career site branding. Today’s organizations are using new technology in its acquisition plan such as social networking, video tools, job matching search engine’s etc. Key Findings from Bersin & Associates report, "Talent Acquisition Systems 2009: Facts, Practice Analysis, Trends, and Provider Profiles." “Over the last year, the talent acquisition market has changed dramatically. During this down economy, companies are taking the time to rethink their current talent strategies. Solution providers have responded by increasing their partnerships and product offerings. Changes include innovation aimed at replacing the resume, expansion by solution providers into global markets, availability of free products and services in talent acquisition, integration with social networking sites, and market consolidation. ” To replace traditional resume innovative solution providers have emerged in the market now. Such as Video Resume, Vipe Power Jobfox have replaced traditional resume. Talent acquisition system providers such as oracle, ADP,Silk Road etc. Social media is also playing dominant role in this such as LikedIn, Facebook, Twitter etc. The Talent acquisition plan: the plan mainly includes the following core components;  Development of an existing talent inventory  Identification of the talent needs of current industry to support future growth  Measurement of the gap between the two Implementation of specific strategies to close the talent gap to meet the needs of existing industry and attract new business  Identification of barriers to talent retention and implementation of action steps to resolve those obstacles. The action plans for Talent acquisition plan: Larger goal of organization: to create a stronger economic platform through the acquisition of strong industries and the expansion of existing industries. Focal point: represents a center of activity which identifies barriers and quantifies the existing inventory of talent & create solutions to reach the larger goal. Action plans that connect strategies to the larger goal are as follows:  Build an existing talent  Create peer – to – peer strategy sessions  Illustrate the significance of global exposure to industries of interest  Introduce new talent perspectives in educational, political & business arenas.  Increase the community’s commitment to new standards in the workforce  Design & implement programs to encourage in- migration & retention.  Integrate industry needs in key talent recruitment & retention into city’s growth goals.  Create targeted, change initiatives to close the talent gap. This plan & action plans for talent acquisition varies from organization to organization and also depends upon the job specifications. Talent Acquisition - As a Strategy Historically organizations have not treated the recruitment process as one of strategic importance, but latterly many are now waking up to the reality that the world has changed dramatically. No more can the organization pick and choose between several great candidates for one position. Several changes in our connected world have tipped the scales in favor of the highly talented individual looking for a new opportunity. Technology has made job easy for both employer and employee. Technology and acquisition strategy is mentioned above. It has brought significant advantages for organizations. A recent survey conducted by Accenture in collaboration with the economist Intelligence Unit found that companies are increasingly turning to global sourcing and delivery in lower cost Organizations need to integrate their talent acquisition system with their existing human resource management system (HRMS) and third-party recruitment
  • 4. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 67 This work is licensed under Creative Commons Attribution 4.0 International License. providers—during implementation. For a talent acquisition system investment to be effective, it needs to be integrated with third-party solutions such as background check providers, assessment providers, and job board distributors. Unfortunately, too many companies make technology decisions on an ad hoc basis and fail to recognize the importance of being able to share data among systems until it is too late. Based on all the research we have compiled over the last few months, we believe that Talent Acquisition needs to be addressed at the most senior levels within all organizations - big or small, public or private. This means that Talent Acquisition needs to fit 'hand in glove' with overall organizational strategy. It needs to have the appropriate level of resources behind it; it needs to be monitored and reported on at all board meetings and it needs to involve many people within the organization who attribute to it the importance that the organization requires. The realities of today's demographics have elevated the issue of talent attraction and retention to become a critical leadership concern, receiving significant attention. Given the projected labor market and demographic trends, an organization's approach to talent acquisition can become a key differentiator and source of competitive advantage. The changing market has revealed that prevailing "one size fits all" HR practices are no longer effective. Organizations must develop specific people strategies for their most critical segments that directly align with and support the business strategy. While individual approaches are customized to the needs of each organization, all approaches are based on key critical success factors. This course focuses on the issues and challenges organizations face in attracting and retaining key talent. While introducing participants to emerging recruitment trends in the industry, this course will also provide participants with a selection of tools and best practices from which to draw as they design their own strategy to win the war for talent. The talent acquisition systems market continues to experience growth. Organizations recognize the opportunities to streamline the entire recruitment process and the benefits of investing in new talent acquisition systems. More than ever, companies are looking to prepare for the future—and the inevitable hiring surge that will occur—and are focused on becoming leaner and smarter around their technology choices. Providers of talent acquisition systems are responding with more complete solutions for identifying, selecting, and on boarding candidates. Talent Retention and Employee Engagement Talent Management practices and policies that demonstrate commitment to human resources result in more engaged employees and lower turnover. Consequently, Employee Engagement has a substantial influence on employee productivity and talent retention. Employee Engagement and Talent Management combined can make or break the bottom line (Lockwood,2006). In today’s competitive arena retaining of talented workforce is the greatest challenge for Human Resource Department. Now more than ever in the history of business, it is imperative for the organizations to manage people well. The shift from industrial age to the knowledge worker’s age is sweeping the country, in fact the whole world. In today’s information economy, people’s knowledge, skills, and relationships are an organization’s biggest asset and main source of competitive advantage. In order to have a sustainable competitive advantage organization should have highly talented workforce. Many surveys say that on any given day, 76% of the workforce is seeking other employment opportunities… There are many arguments which says that Talent acquisition is more difficult than retention & vie versa. But in our opinion Talent retention is more difficult task as organization has to create loyalty among employees People related costs have risen to more than two thirds of organizational spending. Increasingly, talent attraction and retention is viewed as a significant driver of shareholder value and bottom line results. According to a study completed by the Corporate Leadership Council (Driving Performance and Retention through Employee Engagement, 2004), employees who are committed perform 20% better and are 87% less likely to resign. The process of building Employee Engagement is on-going. Effective Employee Engagement fosters an environment of stimulation, development and learning, support, contribution and recognition (Lockwood). Lockwood (2006) concludes that it is the work experience and ultimately, the Organizational culture that determine Employee Engagement and retention of talent. Effective Talent Management requires strong participatory Leadership, Organizational buy-in and Employee Engagement (Lockwood,2006). Attracting and selecting the talent are only the start and can appear to be the simplest of the phases. Although pay and benefits may initially attract employees, top-tier Organizations have now realized the importance of Employee Engagement. Engagement is much more than satisfaction. A satisfied employee is happy with current pay, benefits and atmosphere. This contentment may cause hesitation to show any extra initiative or achievement; thus, it creates a worker who is comfortable with the statusquo. Alternatively, engaged employees demonstrate virtuous qualities like: 1. Innovation & creativity 2. Taking personal responsibility to make things happen 3. Authentic desire to make the company successful as well as the team 4. Having an emotional bond to the Organization and its mission and vision
  • 5. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 68 This work is licensed under Creative Commons Attribution 4.0 International License. Why Retention is so Important? Company Reputation: Maintaining company reputation is an effective way to attract the talented. The organization with the using of talented employees, there is a chance to improve its goodwill and reputation. Costly for organization: turnover of employees is costly for organization. The cost of employee turnover is from 40% - 100% of an employee's annual salary, when we consider productivity, recruiting costs, reduced efficiency in transition and time. Worker shall continue to escalate. Each and everyday good employees quit their employees for better jobs. Productivity: A talented employee is self motivated, self driven towards the work, he acts as a motivator to other employees in work life. That increases total productivity of the organization. What Makes Employee to Quit? All companies irrespective of size, region are facing severe problem regarding talent retention. Though many employees say that “pay “as one of the of the factor to change their present job, several other reasons were also associated with this. They are:  Lack of recognition  Pay not matching with work  Dissatisfaction about perk  Lack of growth opportunity  Lack of relationship with management and colleagues  Pay and other facilities  No scope for learning new skills  No development scope  Ineffective mentorship  lack of adjustment with work atmosphere  Lack of proper allocation of authority ad responsibility How to Retain Talent? As talented workforce is an asset for organization, it is one of the greatest challenges for HR not only to attract but also to retain the talented workforce. Organizations can use a combination of four strategies viz., pay, benefits, learning and development and work environment to create and retain a pool of talented employees for the organization. Successful companies assign the same importance to employer branding as they give to product branding which help them in becoming an employer of choice. They are continuously innovating and inventing new ways to keep talented employees stick to the organization which is changing the face of talent management in India. Pay Pay is the one of the most influencing factor in keeping talent in the company. It should be kept competitive to ensure that the employees do not defect to competitors. As monetary aspect plays predominant role in keeping employee moral, organization has to keep “Pay” matching with industry standard. It participated in a market to market exercise done by agencies that surveys compensation trends. It also carries out continuous quick market exercises to validate trends in the market place and findings of Benchmarking exercises. IT & ITES players are using variable pay as a strategic tool not only to retain but also for taking the best out of their employees. At Wipro, variable component in pay at higher levels is between 30-50 percent whereas at lower levels, it varies between 7-15 percent. At Infosys, Variable pay varies from 10-30 percent, whereas at Polaris Software, it varies from 5 percent at lower levels to 25 percent at senior-most level. Many organizations today actively differentiate high performers, and in the 2005-06 study high performers received double the salary increase of an average performer. Sectors also display differentiation in their appetite for variable pay. Hewitt’s research also shows that the services sectors offer variable pay more than capital intensive sectors. The success of a services company lies in its people, and therefore service-oriented organizations are more willing to include a higher variable pay component in their compensation structures In India, some 10-15 percent of companies allow executives to make their own mix of salary packages. Take the case of Eicher Group which has adopted a flexible pay system in which all managerial employees can design their own compensation package based on their individual needs like car, furnishings, etc. Eicher Group (HR) Head, Ramesh Shankar believes that this flexibility in compensation structuring helps satisfy individual needs better at different stages in his career or life. Some other companies, such as Marico and Accenture have similar approach. The reward management system is playing important role in employee retention. Benefits Employee benefit is an area in which employers need to look while framing the retention strategy. Welfare of employees is one factor which creates loyalty among employees. Welfare such as free medical & transport facilities, company accommodation, life insurance, savings and investment plans, employee stock option plans (ESOP), paid holidays, tax assistance, credit cards and the list is endless. Infosys has a group insurance scheme for its 13000 employees in Bangalore where each employee is covered to the tune of Rs.10 Lakhs. The provider of this policy is LIC. The insured employees did not have to undergo any prior medical examination. It is also the first Indian software company to have an Employee Stock Offer Plan (ESOP). Under the plan, about 110 top performers have been offered 152,000 warrants, which can be exercised to buy the company’s shares within the lock in
  • 6. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 69 This work is licensed under Creative Commons Attribution 4.0 International License. period of five years. Infosys provides Bus Service from Bangalore city to the Infosys Office to protect employees from a 60-minute harrowing drive through the crowded roads TCS offers a number of benefits to employees such as loans for housing, personal computers, durable consumer goods, and automobiles; medical insurance for employees and family; Air fares for spouse and two children; medical insurance coverage; bank extension counters; welfare trust facilitation for higher education and retirement benefits Learning and Growth The importance of Learning & Growth in order to retain ambitious employees cannot be undermined especially when the competitors have a well established training system. Learning and growth opportunity not only attracts and retain talented workforce but also develops competitive skill among them. According to Prashant Sachdeva, Business Analyst, IT & Research, Elixir Web Solutions, “With the face of business changing & knowledge worker increasing in almost all organizations, the factor that currently retain people are opportunities to learn and grow.” TCS invests about 4 percent of its annual revenues in Learning and Development, to build competency capital within the company in cutting edge technologies, domain and functional areas. TCS strive to create leaders at all levels of the organization. TCS offer a basket of Leadership Development Programs. TCS also encourages associates to attend various programs at premier B Schools across the globe. Work Culture Work atmosphere is one of the factors which influences employee retention at organization. Factors such as organizational climate & culture, communication system, participation & recognition, recreation, etc form the working environment etc are the major factors which binds employees long term relationship with organization. A healthy corporate culture of caring for the workers, community and environment will strengthen the social- spiritual values, leading to a positive work climate of empowered and supported workers. TCS has an open door policy in which any employee can approach the CEO or the top management with work related problems. Open-house sessions and engagement programmes allow the employees at all levels meet and discuss various work issues. Employees can also take part in one-on-one sessions where they can interact privately with senior management. At Infosys, InSync is the internal communication program focused on keeping the Infoscion abreast of latest corporate and business developments, and equipping him or her to be a "brand ambassador" for the company. Feedback system also plays a major role in building positive work culture in organizations as it provides a channel by which the problems and grievances can be heard by the top management and also a medium by which top management can be updated by the market conditions by the employees which are indirect contact with the market. Maintaining Image If organization has a better image it can attract talented workforce.. Identifying the talented employees, provide excellent package and challenging environment are the indicators of corporate image. Conduct Exit Interviews Organizations strictly conduct exit interviews and identity reasons for turnover. The information must be ideally used to plan good retention strategy. Concentrate on Development Organizations adopt new policies and technologies for development. Give freedom to new employees and build a long-term relationship. Employee Information Organizations must maintain employee information; particularly new employees should be kept in mind even after the recruitment process over. This information will help in identifying their strengths and setting targets. Employee Engagement: A Tool for Talent Management For several years now, 'employee engagement' has been a hot topic in corporate circles. It's a buzz phrase that has captured the attention of workplace observers and HR managers, as well as the executive suite. Employee engagement is the key driver in enhancing productivity of organization by attracting and retaining talented workforce. Productivity of organization is measured not only in terms of employee satisfaction but in terms of employee commitment to their organization. Employees are said to be engaged when they show positive attitude towards their work. Employee engagement is the level of commitment and involvement an employee has towards their organization and its values. An engaged employee is aware of business context, and works with colleagues to improve performance within the job for the benefit of the organization. The organization must work to develop and nurture engagement, which requires a two-way relationship between employer and employee.’ Thus Employee engagement is a barometer that determines the association of a person with the organization. Several research and studies were conducted on employee engagement issue. Different studies have come up with different issues. Some of them have concentrated on cognitive issue and some are on emotional issue. Some studies have accepted on following as key drivers in employee engagement issue.  Trust and integrity– how well managers communicate and 'walk the talk'.
  • 7. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 70 This work is licensed under Creative Commons Attribution 4.0 International License.  Nature of the job –Is it mentally stimulating day- to-day?  Line of sight between employee performance and company performance – Does the employee understand how their work contributes to the company's performance?  Career Growth opportunities –Are there future opportunities for growth?  Pride about the company – How much self-esteem does the employee feel by being associated with their company?  Coworkers/team members – significantly influence one's level of engagement  Employee development – Is the company making an effort to develop the employee's skills?  Relationship with one's manager – Does the employee value his or her relationship with his or her manager? Many studies have highlighted different issues, but all of them have considered “direct relation with manager” as the most influencing factor in keeping employee engaged. Some studies have listed out following points:  Provide variety: Tedious, repetitive tasks can cause burn out and boredom over time. If the job requires repetitive tasks, look for ways to introduce variety by rotating duties, areas of responsibility, delivery of service etc  Conduct periodic meetings with employees to communicate good news, challenges and easy-to- understand company financial information. Managers and supervisors should be comfortable communicating with their staff, and able to give and receive constructive feedback.  Indulge in employee deployment if he feels he is not on the right job. Provide an open environment.  Communicate openly and clearly about what's expected of employees at every level - your vision, priorities, success measures, etc.  Get to know employees' interests, goals, stressors, etc. Show an interest in their well-being and do what it takes enable them to feel more fulfilled and better balanced in work and life.  Celebrate individual, team and organizational successes. Catch employees doing something right, and say "Thank you."  Be consistent in your support for engagement initiatives. If you start one and then drop it, your efforts may backfire. There's a strong connection between employees' commitment to an initiative and management's commitment to supporting it. Some of the advantages of Engaged employees are:  Engaged employees will stay with the company, be an advocate of the company and its products and services, and contribute to bottom line business success.  They will normally perform better and are more motivated.  There is a significant link between employee engagement and profitability.  They form an emotional connection with the company. This impacts their attitude towards the company’s clients, and thereby improves customer satisfaction and service levels  It builds passion, commitment and alignment with the organization’s strategies and goals  Increases employees’ trust in the organization  Creates a sense of loyalty in a competitive environment  Provides a high-energy working environment  Boosts business growth  Makes the employees effective brand ambassadors for the company  A highly engaged employee will consistently deliver beyond expectations. In the workplace research on employee engagement (Harter, Schmidt & Hayes) All these above points clearly show that employee engagement is one of strategy in talent management. Organization can develop a strategic model to manage talent. Employer Branding Talent Attraction Talent Sourcing Talent Development Talent Retention Talent Management
  • 8. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962 Volume-10, Issue-1 (February 2020) www.ijemr.net https://doi.org/10.31033/ijemr.10.1.12 71 This work is licensed under Creative Commons Attribution 4.0 International License. IV. CONCLUSION Talent management is identified as one of the most HR challenge to critically meet the business demands beyond tomorrow. It is indispensable for survival and sustainable development of any business organization. Neglect of talent management is suicidal for the organization particularly in the current business scenario of high competition. In present talent-hungry marketplace, one of the greatest challenges that organizations are facing is to successfully attract, assess, train and retain talented employees. Talent Management is the end-to-end process of planning, recruiting, developing, managing, and compensating employees throughout the organization. Human resource is the only one resource which makes any organization different from others. It creates competitive advantage and also helps to build sustainable growth for corporate. Corporate throughout the globe are also facing the problem of talent shortage. Many jobs do not have right employees with proper skill sets. Attracting a right talent and also retaining them in a corporate is a greatest challenge for today’s HR managers. Therefore talent management is a great and complex task for mangers. Employer branding and employee engagement can be used as a strategic tool to retain and mange talents. In the “War of Talents”, Talent has won. Therefore Corporate today consider Talent Management as a Strategic weapon in the battle of Talents. REFERENCES [1] Amit Madan. (2006). Human resource department, Container corporation of India Ltd. The Changing Face of Talent Management. Available at: https://rocketreach.co/amit-madan-email_21894631. [2] Brakeley, H., Cheese, P., & Clinton, D. (2004). The high-performance workforce study 2004. Available at: www.accenture.com. [3] Deloitte. (2005). 2005 talent management strategies survey. Available at: www.deloitte.com. [4] Halder, U. K. & Juthika, S. (2012). Human resource management. New Delhi, India: Oxford University Press. [5] www.humancapitalinstitute.org. [6] Josh, B. (2006). Talent management. Available at: www.researchpublish.com. [7] https://autoassembly.mckinsey.com/. [8] Madeline Laurano. (2009). Talent acquisition trends. Available at: https://www.ere.net/author/madeline-laurano/. [9] R.Nancy, L. (2006). Talent management: Driver for organisational success. Available at: https://docplayer.net/786555-Talent-management-driver- for-organizational-success-by-nancy-r-lockwood-sphr-gphr- m-a-manager-hr-content-program.html. [10] SHRM. (2006). Talent management survey report. Available at: www.shrm.org/surveys. [11] Suratkumari, M. & B, J. (2012). Talent Management of south central railways. Journal of Commerce and Management Thought, II(2). [12] Tucker, E., Kao, T., & Verma, N. (2005). Next- generation talent management: Insights on how workforce trends are changing the face of talent management. Available at: www.hewitt.com. [13] Waheed, S., Abdiilhalim, Z., & Halil, Z. (2012). Talent management in four stages. Available at: http://seap.usv.ro/annals/ojs/index.php/annals/article/viewA rticle/464.