Talent ManagementSession 5: Discovery of Talent

By Prof. Pranoti ParadkarISB&M

Learning Objectives

•Strategic Talent Planning

•Difference between traditional

Recruitment and Talent Acquisition

Strategy

•Ways to arrest attrition

Discovery of Talent

• Diversity as Asset

• Identifying your talent needs

• Competency models & Assessment

Types of Workforce Planning• Traditional Headcount Planning

Can be used for stable organization

No view of available supply of Talent

No dialogue between workforce planners & business leaders on future

organizational capabilities & roles organization will need in next two, three or

five years

• Workforce Analytics

blends approaches from forecasting principles analytics blends approaches

from forecasting principles, scenario planning & traditional head count

planning to create current & future workforce forecasts for specific roles

under various business scenarios.

Can produce picture of a future business scenarios

• Strategic Workforce Planning

Generate Data analytics and insights about current & future talent

Identifies talent gaps 7 determine what actions & investments are needed

Strategic Workforce Planning

• Translate business strategy into organizational

capabilities

• Determine the talent needed to deliver on organizational

capabilities

• Confirm current talent needs & future talent forecasts

• Conduct a talent gap analysis for current & future talent

states

• Identify actions & investments to close current & future

talent gaps

Strategic talent Plan

SWP- Step 1

SWP –Step 2

SWP –Step 2

SWP (.. Contd)• Step 3: Forecasting Head Count Needs

▫ Quantitative Staffing

▫ Qualitative Staffing

• Step 4: Conducting talent Gap Analysis▫ Value to the Strategic objective

▫ Time to acquire & develop proficiency

▫ Size of the gap

• Step 5: Identifying Actions & investments▫ Building

▫ Buying

▫ Rent

New Recruitment Startegy

• Pump talent in at all levels

• Hunt for talent all the time

• Tap many diverse pools of talent

• Find ways to reach passive candidates

• Break the compensation rules to get the candidates

you want

• Recruiting is about selling as well as screening

• Develop a recruiting strategy for each type of talent.

For Assignment

•Developing Competency Matrix