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• Why, What and How of Talent Management
• Pillars of Talent Management
• New Language of Talent Management
• Questions and Answers
Download this presentation from Rajiv Sharma LinkedIn Profile
This year so far has been full of challenges forcompanies, countries and individuals.
However in spite of downward economic trendselect organizations are growing and making soundprofits.
That is the reason we needmore than ever before aMulti-skilled and QualifiedTalent to Run thecorporations.
Talent has become
scarce resource, so it
must be managed to the
fullest effect.
That is why Management of
Talent has become vital.
Attract Talent
Develop Talent
Motivate People
Retain Talent
Engage People
Talent Management is a set of HR processes
designed to:
The goal of talent management is to create a
High-performance
Sustainable organization
that meets its strategic and operational goals
and objectives.
Talent
Management rests
on fundamental
pillars.
These foundational pillars
decide the future and trends of
Talent Management.
Succession
Planning
Goals &
Performance
Learning
Management
Rewards &
Compensation
Recruitment
Career
Development
Recruiting in the Past
20th Century candidates were judged on a resume
of standard accomplishments.
Skill requirements for specific jobs were well-
defined, and paramount.
Years of experience were a measure of ability.
81% of CEOs say
that their business
always looks to
equip employees
with new skills
Source: PwC - 2015 Annual Global CEO Survey
Recruiting For the Future
Recruiting for the Future
For every job, though, the No. 1 thing we look for is
general cognitive ability, and it’s not I.Q. It’s learning
ability. It’s the ability to process on the fly. It’s the ability
to pull together disparate bits of information.
- Laszlo Block, Google’s senior VP of people operations
2. Learning Development
From extracurricular activity to a strategic
recruitment and development tool
Traditional learning programs were usually
driven by the needs of the employer, with
the aim often being to establish conformity
across the workforce.
One-third of new
generation rank training
and development
opportunities as a
prospective employer’s
top benefit
Source: “Multi-Generational Worker Attitudes” - Millennial
Branding and monster.com
If They’re Not Learning,
They’re Leaving...
Core Values
Growth-orienting Companies Make
Learning Part of the Culture
1.Deliver WOW Through Service
2.Embrace and Drive Change
3.Create Fun and A Little Weirdness
4.Be Adventurous, Creative, and Open-Minded
5.Pursue Growth and Learning
6.Build Open and Honest Relationships
7.Build a Positive Team and Family Spirit
8.Do More With Less
9.Be Passionate and Determined
10.Be Humble
Tony Hsieh, Zappos CEO
Finally, one can only hope that future will see thedeath of the annual performance review. Thesebloated, over-engineered, mandatory rituals are awaste of time, are hated by everyone and actuallydo nothing to foster high performance. - Patty McCord,
chief talent officer at Netflix
Business Moves too Fast for the
Annual Performance Review
58% of executives
believe that their
current
performance
management
approach drives
neither employee
engagement nor
high performance
Source: Global Human Capital Trends 2015 by
Deloitte
Current Review Systems are Broken
It’s liberating people. It has really helped to create teamwork instead of individualism, which is critical in a creative company. This is an opportunity for us to not just say that our people are our most important asset, but to actually live those words.Donna Morris, senior vice president of global people resources at Adobe
Adobe has Replaced Annual Reviews
with Regular Check-Ins
4. Career Development
From check the box corporate-driven org. charts to outside
the box employee-focused experiences
Traditional career development was
driven by tenure. Reaching the next
rung on the corporate ladder meant
managing people doing the job they
used to do.
Young professionals who now makes up more than half the workforce,
are taking center stage. Their expectations are vastly different from
those of previous generations. They expect accelerated responsibility
and paths to leadership. They seek greater purpose in their work. And
they want greater flexibility in how that work is done.
Meeting the New Generation Mindset
New-age Companies Create Employee
Tours of Duty
For each tour, the employee and the company clarify what each
side gets out of the relationship, offering a number of different
types of tours to guide employees at different stages of their
career. The Alliance by Reid Hoffman (co-founder of LinkedIn), Ben Casnocha, and Chris
Yeh
In traditional organizations, compensation is often
a zero-sum game. Individual rewards for individual
performance. Salary, bonuses, stock options and
pension plans linked to individual output,
increasing exponentially as employees progress up
the org. chart.
Show Me the Money
While millennial workers are ambitious and strive for
financial success, 88% prefer a collaborative work-
culture to a competitive one.
They also understand the value and the inherent potential
of transparency, and they are perplexed at the secrecy and
“need to know” cultures that were the norm in The
Industrial Economy. - Forbes: 10 Ways Millennials Are Creating The
Future Of Work
Rewarding Collaboration not Competition
• Clear career paths, including
future earning potential are
especially attractive in Brazil
• Stock options or other forms of
equity- based pay and high future
earnings had a higher rank in
China than other countries
suggesting a long-term
orientation
• Secure and steady income in
the present is particularly
important in Russia
Tailor Compensation Packages to
Global Workforces
- EY:Differentiating forSuccess- Securing TopTalentin theBRICs
6. Succession Planning
From finding clones to fill retirees’ shoes to
opening up the multicultural boardroom
In the Industrial Economy succession planning was
about ensuring continuity at the top. It was about
staying the course, not rocking the boat. Executives
were often judged against their predecessor’s strengths,
and groomed to follow in their footsteps.
Finding Clones to Fill Retirees’ Shoes
With three decades of experience in the consumer packaged
goods industry, it’s clear to me that diversity will become a
competitive advantage in a global economy for companies that
are willing to open their minds and embrace change. The best
companies will build culturally-diverse leadership teams and
workforces with divergent backgrounds, perspectives and ideas.Denise Morrison, President & CEO at Campbell Soup Company
Global Economies Require Diversity of Leadership
A McKinsey study of
European and Asian
businesses revealed that
companies with a higher-
than-average number of
female executives were as
much as 47% more
profitable than their
competitors.
A study by the American
Management Association
found that companies with
senior managers from non-
European descent reported
sales growth 13% higher
than their competitors.
Source: HBR - 7 Traits of Companies on the Fast Track to International
Growth
How the Talent World has Changed“Our candidates today are
not looking for a career…”
“They’re looking for an
Experience.”