talent managementrole of hr

3 types of employees

Those who know what is happening

– Educated, but not experience and skills

Those who don’t know what is happening

– No Education, experience and skills

Those who makes things happen

– Education, Experience and Skills

7 Biggest Challenges for HR Chief

Talent

Acquisition

Managing

Critical

Workforce

Career

Planning

Compensa

tion

package

Employee

Engagement

Leadershi

p Developme

nt

Talent

Retention

Sources: Economic Times, 3rd September, 2011, p: 4. Deloitte Compensation Survey, 2011

Top Workforce Challenges

related to Talent Management

1. Attracting and retaining skilled professional workers

2. Developing manager capability

3. Retaining high performers

4. Developing succession pool depth

5. Addressing shortages of management or leadership

talent

talent !!!

………..talent: smart, sophisticated business people who are technologically literate, globally astute, and operationally agile

And even as the demand for talent goes up, the supply of it will go down

• Experience

• Knowledge

• Education

• Skills

• Competency

What is Critical Talent !!!!

The Small Group of Individuals, who drive a disproportionate share of their company's business performance and generate greater-than-average value for their customers and share holders

talent !!!

Collins English Dictionary defines talent as

innate ability, aptitude, or faculty, especially when unspecified; above average ability

talent is…….

some combination of a sharp strategic mind, leadership ability, emotional maturity, communications skills, the ability to attract and inspire other talented people, entrepreneurial instincts, functional skills and the ability to deliver results

Talent Management !!!

Talent Management– Concerned with enhancing the attraction, long-term development,

and retention of key human resources

“talent” refers to

individuals who have the capability to make a significant difference to the current and future performance of the company

Globalization - Employee Mobility

Lowered trade barriers

More democratic countries

Rising skill levels of labor

More investment worldwide

Growth of MNCs

What does it Mean for HR?

roles of HR

PMIR

Lab Welfare

HRD

HRM

HR…………….Talent Management

What does it Mean for HR?

• Global war for talent will heat up

• Business leaders to look to HR for expertise

• Look to HR for people strategies to help their companies prepare for growth

• HR professionals will come under increasing pressure to retain and develop their top talent

Persona

• High Potential / Low Performance

• High Potential/Medium Performance

• High Potential/High Performance

• Medium Potential/Low Performance

• Medium Potential/Medium Performance

• Medium Potential/ High Performance

• Low Potential / Low Performance

• Low Potential/ Medium Performance

• Low Potential/ High Performance

Talent Management Process

• Workplace Planning

• Talent Gap Analysis

• Recruiting

• Staffing

• Education and Development

• Retention

• Talent review

• Succession planning

Integrating the Four Key Elements of Talent Management

– Plan

• Attract

• Recruit

• Assess Perform

– Develop

• Retain

Talent Management Strategy

Comprehensive employee development system / Individual career management

Compensation & Benefits

Performance Management system

Training and development

“Fueling the Talent Engine: Findingand Keeping High Performers: A Case Study of Yahoo Inc.,”

• how Yahoo views talent as an integrated function that is incorporated into the company’s central organizational strategy

• Talent management at Yahoo is observed from the time candidates consider joining the organization throughout their entire career and even after they depart

Talent Management Practices and Strategies

• Building a deeper reservoir of successors at every level

• Creating a culture that makes employees want to stay with the organization

• Identifying gaps in current employee and candidate competency levels

• Creating policies that encourage career growth and development opportunities

• Identifying vacancies that will be created as the company advances and expands

• Locating the kind of qualified professionals needed

• Rewarding top-performing employees

• Creating an environment where employees are excited to come to work each day

• Aligning employees with the mission and vision of the organization

• Assessing candidates’ skills earlier in the hiring process

• Creating a culture that values employees’ work

• Creating a culture that makes individuals want to join the organization

• Creating an environment where employees’ ideas are listened to and valued

Impact of Talent Management Practices and Strategies

Benefits

Creates a culture that makes individuals want to join the organization

Creates a culture that values employees’ work

Creates an environment where employees’ ideas are listened to and valued

Creates a culture that makes employees want to stay with the organization

Allows them to do their jobs well

Creates a culture where employees passionately believe in what they are doing

Feel empowered to make decisions without that impact their work

Creates an environment where employees are excited to come to work each day

Challenges Facing Talent

Person - Job - Fit

Person - Organization - Fit

A Look Ahead: A Future View of Talent Management

Talent Acquisition

Talent Management

Talent Retention

Talent Engagement

Question for reflection

• How to acquire talent

• How to manage high performance employees

• What model of motivation and engagement to be planned/ used

• What would be the Performance parameter