PRESENTED BY : SHIVANI VINDHANE
ROLL NO : 65
GUIDED BY : DR. SUNITA SHAH
TALENTMANAGEMENT

DEFINING TALENT
‘Talent consists of those individuals who can make adifference to
organisationalperformance, either through their immediate
contribution or in the longer term bydemonstrating the highest
levels of potential’
Accordingto McKinsey
, talent is the sum of
⚫ aperson’sabilities,
⚫ his or her intrinsicgifts,
⚫ skills, knowledge, experience ,
⚫ intelligence,
⚫ judgment,attitude, character, drive,
⚫ his or her abilityto learn and grow

TALENT MANAGEMENT
Aconscious, deliberate approach undertaken to attract, develop
and retain people with the aptitude and abilities to meet current
and future organisational needs.
TALENT=COMPETENCE+COMMITMENT+CONTRIBUTION

PURPOSE OF TM
⚫ To compete effectively in a complex and dynamic environment to
achieve sustainable growth
⚫ T
o develop leadersfor tomorrow from within anorganization
⚫ T
o maximize employee performance as a unique source of
competitive advantage
⚫ T
o empower employees:
Cut down on highturnover rates
Reduce the cost of constantly hiring new people to train

BENEFITS OF TM
⚫ Right Person in the right Job:Throughaproper ascertainment ofpeople
skills and strengths,people decisions gainastrategic agenda.The skill or
competency mapping allowsyouto take stock of skill inventories lyingwith the
organization.This is especially important both from the perspective of the
organizationaswell asthe employee because the right person is deployed in the
right position and employee productivity is increased.Alsosince there is a
better alignment between an individual’sinterests and his job profile the job
satisfaction is increased.
⚫ Retaining the top talent:Despite changesin the globaleconomy
, attrition
remains amajor concern of organizations.Retaining top talent is important to
leadership and growth in the marketplace.Organisations that failto retain their
top talent are at the risk of losing out to competitors.The focusis now on
charting employee retention programs and strategies to recruit, develop,retain
andengagequality people.Employeegrowth in acareer hasto be taken care of,
while succession planning is being performed those who are on the radar need
to be kept in loop so that they know their performance is being rewarded.

Contd..
⚫ Better Hiring:The quality of anorganizationis the quality of workforce it
possesses.The best wayto have talent at the top is have talent at the bottom. No
wonder then talent management programs and trainings,hiring assessments
havebecome an integral aspect of HR processes nowadays.
⚫ Understanding Employees Better: Employee assessments give deep
insightsto the management about their employees.Their development needs,
career aspirations,strengths and weaknesses,abilities,likes and dislikes.It is
easier therefore to determine what motivates whom and this helps alot Job
enrichment process.
⚫ Better professional development decisions: Whenanorganizationgets
to know who its high potential is,it becomes easier to invest in their
professional development.Sincedevelopment calls for investment decisions
towards learning,training and development of the individual either for growth,
succession planning,performance management etc, an organizationremains
bothered where to make this investment and talent management just make this
easier for them.

FOCUSSES OF TM APPROACHES
⚫ Recruitment - ensuring the right people are attracted to the organisation.
⚫ Retention - developing and implementing practices that reward and support
employees.
⚫ Employee development - ensuring continuous informal and formal learning
anddevelopment.
⚫ Leadership and "high potential employee" development - specific
development programs for existingand future leaders.
⚫ Performance management - specific processes that nurture and support
performance, includingfeedback/measurement.
⚫ Workforce planning - planning for business and general changes,including
the older workforce and current/future skillsshortages.
⚫ Culture - development of apositive,progressive andhigh performance "way
of operating".

TM - A PROCESS

1. Workforce Planning: Integrated with the businessplan, this
process establishes workforce plans,hiring plans,compensation
budgets,and hiring targets for the year.
2. Recruiting: Throughan integrated processof recruiting,
assessment,evaluation,and hiring the business brings people into
the organization.
3. Onboarding: The organization must train and enable employees
to become productive and integrated into the company more
quickly.
4. Performance Management: byusing the businessplan,the
organization establishes processes to measure and manage
employees.
PROCESS

5. Training and Performance Support: Thisisacritically
important function.Learning and development programs is
provided to all levelsof the organisation.Thisfunction itself is
evolving into acontinuous support function.
6. Succession Planning: as the organization evolves and changes,
there is acontinuous need to move people into new
positions. Succession planning, averyimportant function, enables
managers and individuals to identify the right candidatesfor a
position. This function also must be aligned with the business
planto understand and meet requirements for key positions 3-5
years out. While this is often aprocess reserved for managers and
executives,it is more commonly applied across the organization.

7. Compensation and Benefits: Thisisanintegral part of
people management. Here organizations tryto tie the
compensation plan directlyto performance management so that
compensation,incentives,and benefits align with business goals
and businessexecution.
8. Critical Skills GapAnalysis: This is aprocess we identify asan
important, often overlooked function in manyindustriesand
organizations.While often done on aproject basis,it canbe
"business-critical." For example,today industries like the Federal
Government, Utilities,T
elecommunications, and Energy are facing
large populations which are retiring. How do you identify the
roles,individuals,and competencies which are leaving? What
should you do to fill these gaps? Wecall this "critical talent
management" and manyorganizations are goingthroughthis now
.

RECENT TRENDS IN TM
⚫ T
alentW
ar
⚫ Technology
⚫ Increase in Employer of Choice Initiatives
⚫ PromotingTalent Internally
⚫ Population

RECENT TRENDS IN TM
⚫ Talent War:Findingandretaining the best talent isthe most
difficultaspect of HR management.HR survey consultanciesare
one in their view that organizationsgloballyare facingadearth of
talented employeesand it’s often more difficult to retain them.
Further research has alsoshown that there is clear link between
talent issues and overall productivity
.
⚫ T
echnology andT
alent Management:T
echnology is
increasinglygetting introduced into people development. Online
employee portals have become common place in organizations to
offer easy accessto employees to various benefits and schemes.In
addition employeescan also managetheir careers through these
portals and it alsohelps organizations understand their employees
better.

⚫Talent Management to rescue HR :HR hasbeen
compelled to focus on qualitative aspects equally and even
more than quantitative aspects like the head count etc.
Through talent management more effort is now being laid on
designing and maintaining employee scorecards and
employee surveys for ensuring that talent is nurtured and
grown perpetually
.
⚫Increase in Employer of Choice Initiatives:An
organization’sperceived value as an employer ashelps
improveits brand value in the eyes of its consumer.Most
importantlyit helps it attract the right talent.

⚫ Promoting Talent Internally: Anindividualishired, whenthere isafit
between his abilities or skills and the requirements of the organization.The next
step is enabling learning and development of the same so that he/she stayswith
the organization.Thisisemployeeretention.Anenabledor empoweredmeans
anempowered organization.It is alsoof interest to organizations to know their
skills inventories and then develop the right individual for succession planning
internally.
⚫ Population Worries Globally: Worldpopulationsare either youngor aging.
Forexample, stats have it that by 2050 60%ofEurope’s workingpopulation
will be over 60! On the other hand acountry like India can boast of ayoung
population in the coming and present times.Population demographics are thus a
disturbing factor for people managers.Still more researches havepredicted that
demographic changesin United States will lead to shortage of 10 million
workersin the near future!