Talent Management.....an Overview

8/13/2019 Talent Management.....an Overview

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Effective and efficient recruitment processes

Develop leaders and create a sustainable leadershippipeline

Identifying competency gaps and ways to fulfilling it Identifying high performers and successors to key

positions

Managing people in a consistent and measurable way

Hiring, managing and retaining talented workforce


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Talentthe most sort after resource in the times tocome.

Managing talent is the most challenging issue in the

arena of Human Resources today


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Talent entails having those skills that provide the

edge and differentiation to the organizationTalent = Potentiality + Performance


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Talent pool is now a nations prime strategic resource

A countrys talent pool is again measured not in termsof number but by quality and depth of talent possessedby each of them

India though demographically a sweet spot comparedto other nations yet is affected by talent shortage

Inadequate skills imparted to technical & managerialpeople

Talent Management is what organization has devisedas a solution to the problem of talent crunch


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Attracting the best people

Applying their strengths productively

Creating work environment for growth and

development

Retain the talent that has been acquired and

developed.

Making a company successful, profitable andproductive


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Talent Management is theprocess of developing andnurturing new employeesthough on boarding, developingand retaining current

employees and attracting highlyskilled individuals to work foryour company.

-Mckinsey


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(LQ+CQ+RQ+AQ)X Values = Talent

LQ= Capacity to Learn (Learning Quotient)

CQ= Capacity to Think (Conceptual Quotient)

RQ= Capacity to Relate (Relationship Quotient)

AQ= Capacity to Act (Action Quotient)


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Improve competitiveness by hiring, retaining,and empowering the best people

Achieve goals by aligning staffing practices

with corporate strategy Profit from more effective and efficient global

operations


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Examples of companiesfocusing on talentmanagement and have

started practicing it areinclude, Capgemini,Eastman Chemical,Kimberly-Clark,PitneyBowes, SCI,Seagate, Steelcase,Textron,.


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Tapping talent is a difficult task hence organizationsmust innovate on how and where they can locate talentother than through conventional recruitment methods

Poaching is the best and quickest approach to sourcetalent while using compensation as a tool for managingacquired talent is easy but short lived


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Talent acquisition is a strategy which enablescompanies to build its competitive advantage and beproactive and prepared for future performance with aready now workforce.It involves-:

Finding Attracting Engaging Developing

Retaining Transition of the workforce


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Three- pronged approach

1. Companies should showcase their businessphilosophy and their niche ventures

2.

Companies should work hard to achieve credibilityamong the internal and external stakeholders

3. Companies should showcase its thought and executiveleadership through forums


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HP reputation in imaging and printing in themarket made it attract the best talent in Japan

TCS conducts interactive programmes andeducates the students about the company andattracts talent through awareness.


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GE identifies global leaders from a localtalented pool

ICICI observes the same method as that of GE

Sap has introduced a global talent managementprogramme which identifies talented staff andprepares them for leadership


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Cross-border rotation of employees isencouraged by SAP and TCS which enhancestheir capabilities

Global Communication Job Rotation Program& Maitree are programmes and forums whichfacilitates employees


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Retaining acquired talent isthe next biggest challengethat Companies are facing

Measures could be

Well designed and dynamiccompensation & benefitsystem

Well drafted career planningand succession planningmodel

Creating conducive &proactive work culture in theorganization

Talent Management.....an Overview

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