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Talent management cotemporary issue 2016

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JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY ANANTAPUR – 515002 DEPARTMENT OF MANAGEMENT A SEMINAR ON “TALENT MANAGEMENT” Submitted By Under the Guidance of T.Satya Deepthi Ms.K.Srilatha 140A1E0017 MBA
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JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITYANANTAPUR – 515002

DEPARTMENT OF MANAGEMENT

A SEMINAR ON “TALENT MANAGEMENT”Submitted By Under the Guidance ofT.Satya Deepthi Ms.K.Srilatha140A1E0017 MBA

TALENT MANAGEMENT

WHAT IS TALENT MANAGEMENT?

Talent management is a process that emerged in the 1990s and continues to be adopted, as more companies come to realize that their employees’ talents and skills drive their business to success.

Attracting and recruiting qualified candidates with competitive backgrounds

Managing and defining competitive salaries.

` Training and development opportunities.

Performance management processes.

Retention programs.

Promotion and transitioning.

Emergence of Talent Management In Companies

• Nearly 80% of CEOs say HR issues are core to a company's success. Around 73% of CEOs spend a fourth of their time in talent development, with a similar percentage spending it on retention of the best performers. Nearly 61% have employee satisfaction as an integral part of their goals.

• "Over the past three to four years, addressing the needs of employees and talent management has gained prime importance for CEOs, specially since unemployability remains an issue," says Modi.

Model of Talent Management

New Challenges and Trends in Talent Management• Building competitive advantage

upon employees’ knowledge and talents; knowledge management, talent management and managing key employees

• Careful choice of employee/talent recruitment model

• New approach to the selection of employees/talents

• Building employment reserves and succession plans• Change of the motivation patterns for

employees/talents]

• Combining formal and informal leadership• Introduction of employees/talents’ participation in

management

Comparison of priorities of the environment in past at present present

EMERGING OF TALENT MANAGEMENT IN 2016

•A New approach to performance reviews

•Culture

•Sourcing talent with Technology

•Getting on board with analytics

Infosys splits HR head role to focus on top talent management

• India's second largest software services firm, Infosys, wants its next human resources head to focus on leadership development and succession planning, a strategy-led position removed from routine operational hiring and employee management functions as part of a larger organizational overhaul.

• The company undertook an organization reshuffle recently that will result in current global HR head Srikantan Moorthy moving to a new delivery function role effective April 1.Executive vice president Binod Hampapur Rangadore leads overall "talent fulfillment" function, which includes mass recruitment, training, and personnel allocation

Attract & Retain Strategies at INFOSYS

• Infosys, one of the first Indian company to offer stocks to its employees in the 1990’s to roll out a new stock incentive plan for top and mid level executive as part of a strategy to attract and retain top talent.• Provides better work environ- ment .• Infosys has taken initiatives to catch the available talent pool by working with education regulators in India and abroad..

Cont..• One of them is the Company

Image. Company image of Infosys is very high in the current market, it stood 3rd among the top 10 IT companies.

• Learning opportunities are also be the reason for the retention of employee, as Infosys has a good training infrastructure.

• Working environment provided by the Infosys is also pleasant, which will motivate employee to retain in company.

• A competitive salary package is also offered by Infosys in order to retain work knowledge.

INITIATION BY • With changing employee demographics in the flat world,

the entire recruitment and deployment has changed. It has become essential to source talent where it is more cost effective. To achieve this objective, Infosys has developed an innovative work force management strategy –”THE GLOBAL TALENT PROGRAM”. • This is the largest sustained effort by any company to

recruit from campuses outside of India and develop the skills of a global work force through training assignments in India. This helps in reduced costs, high retention rates, improved customer service and increased productivity.• This initiative led INFOSYS to INITIATIVE WINNING THE

OPTIMAS AWARD in the GLOBAL Outlook Category for 2007.

CONCLUSION:• “Talent Management” has become one of the most important

buzzwords in corporate Hr and training today. Organizations know that they must have the best talent in order to succeed in hypercompetitive and increasingly complex global economy. They must manage talent in a critical resource to achieve the best possible results in long run.

• The war for talents is becoming more and more widespread. The organizations who want to acquire competitive advantage should implement appropriate strategies which bridges the gap that develops talent in organisations to meet global challenges.

Conclusion ( just read :P )Organizations that deploy effective strategic talent management practices

truly understand that talent is a key competitive advantage. Building the business case will be the hardest part for human resources professionals, however, they can help themselves by genuinely understanding the business and seek and give guidance to the executives who generally do not want to invest their time in these processes. Building the business case and coupling it with a strategy map will provide for a simple and powerful way for the human resources professional to demonstrate value and communicate visually how the strategy can be executed. Additionally, it will be critical for the human resources professional to decouple the strategy from being just a human resources initiative but instead a whole organization or business initiative. Doing this will allow for human resources to be viewed as a true strategic business partner. When organizations leverage strategic talent management practices they can project confidence to their market and remain nimble and flexible regardless of the market conditions.

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“Dig Your Well, Before You're Thirsty”


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