393 Archana Dasgupta

8/12/2019 393 Archana Dasgupta

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TALENT MANAGEMENT RETENTION OFTALENT IN ORGANIZATION

BY- ARCHANA DASGUPTA SDMIMD


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As the clock ticks, the next TICK can either be a MINUTE or a MOMENT, amoment of a vital contribution , that can take the organization to great heights.

How can we have an ongoing flow of such vital contributions that lead theorganization to success ??

By understanding- How can we BETTER

manage TALENT?


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TALENT MANAGEMENT

Is all about three stepsTalent Acquisition, Talent Development and Talent Retention.

Is important to be understood because Organization can build its unique core competency around it.

o It can improve productivity , inspire innovation, be fundamental in buildingan outstanding organizational culture.

If not understood , if mismanagedOrganization can loose its most talented people.It may not effectively strategize in building a talent pool, it may never have oneIt may not be able to attract talent needed to fulfill the organizational goals.It may end up stagnating and mismanaging the human assets.


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TRENDS OBSERVED IN TALENT POOL

Global izat ion has m ade wo rkfo rce plannin g d i ff icul t .

Jo b sp ecial iza t ion imp os es di ff icul ty on ta lent developm ent

Econ om ic f luctuat ion s cons t ra int the execut io n of talent s t ra tegies

Work place a t t r ibu tes determine re tent ion .

Increased use of so cia l media in ta lent acqu is i t ion.Spending on IT by HR depar tments have increased.

Choice be tween o u tsou rc ing /insourc ing

Creat ing b alance b etween s hor t -term ch al lenges and lo ng -termchallenges.

Workfo rce Divers i ty


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QUESTIONS ADDRESSED BY VARIOUS BOOKSAND ARTICLES

Employees psyche and what they expect?

Is absolute retention possible?

Can organizations expect loyalty in this

competitive and growth oriented era ?

What makes employees quit?


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KEY ISSUES

HOW CAN TALENT BE PRESERVED?

Some Strategies inTalent AcquisitionTalent DevelopmentTalent Retention

WHY HR DEPARTMENTS FAIL TO PRESEVE TALENT?

WHY PEOPLE QUIT ORGANIZATION?


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WHY is there SO much of TALENT DRAIN.???

FINDINGS OF VARIOUS SURVEYS


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WHY PEOPLE QUIT ORGANIZATIONS?

Forbes Survey

InstabilityCompensationDisrespectNo health benefitsImproper work life balanceOrganization/employee has no vision

Lacks connection to the big pictureNo empathyNo futureNo fun


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WHY PEOPLE QUIT ORGANIZATIONS?

Human Resource survey

Relationship with the bossRelationship with the co workersBored and unchallenged by work itselfNo opportunities to use skills and abilitiesLess Contribution of work to the organizations businessgoalsLack of desired autonomy and independenceOverall corporate cultureFrom management no recognition of job performance andcontribution madeOrganizational financial instability


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SURVEY ONEMPLOYEES

PSYCHE


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Q3. HOW LONG HAVE YOU BEEN WORKING AT YOURCURRENT WORKPLACE ?

0-2 years

71 %

2-5 years 24%

5-7 years 0% more than 7years

5%

45% of those who have more than 2 yrs of workexperience are working in the current organizationsince past 0-2 yrs. That shows in how many yearspeople have changed organization in which they hadbeen working within the span of less than 7 years.


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exposure to challenge 23% pay scale 23%

allowances and benefits 5%

respectable designation 2%

growth opportunities 26%

job security 5%

diverse experience 12%

other 5%

Q3.The process of finding better job opportunity has over theperiod of time given you better/more

Most of the people change jobs for better growth opportunities.Exposure to challenge and pay scale are equally good reasons ofswitching jobs in career of less than a decade or 7 yrs.


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Q3.What are your most basic expectations from yourorganization?

good work place culture 22% perks and good salaries 17%

reward and appreciation 16%

time to time training 10%

ease of insurance and loans 1%

better projects 13%

the organization be a big name 3%

better conflict handling mechanism 1%

you get to feel valued and get to directly contribute 12% Other 4%

The primary expectation employees hold is good work culture.Tangible and intangible appreciation or rewards/perks are equallyexpected by employees.


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Q6 IS YOUR ORGANIZATION DOING ENOUGH FOR STRESSMANAGEMENT SUPPORT?

While it is ethical for organizations toprovide stress management support it is inpractice in very few organizations. I found itto be just30%.


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SOME ANSWERS TO- WHAT MOTIVATES PEOPLEAT WORK?

I like what I do and I want to achieve any goals during my career.

Customer delight.

My kind of work New Learnings during job and satisfactory salary

according to work and position

Better role and challenging work, good work environment andapproachable colleagues, greater percent of hike, frequent teamoutings or team lunches and last but not least a good projectmanager.

Appreciation and rewards and good appraisals Do your Part nicelyas rest everything going to be in favor, hopefully. - Learning -Autonomy to implement my learning - Challenge - Freedom to getthe job done the need to earn a living


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CONCLUSION

An organization where employees are happy is alsothe same organization where it is not difficult toextract maximum from peoples expertise and talentrichness to be able to survive in the competitivearena and make the business processes justified andprofited.Today talent has great economic value thoughbusiness cycles are getting more volatile as its a

globally connected world, but dismal approaches donot help.For e.g.- a small fish in bowl grows big, the problem tofix is to replace the bowl with a bigger bowl or aquarium

and not to kill the fish.


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393 Archana Dasgupta