TALENT MANAGEMENT

IN MANUFACTURING

T. Sairam Singh

Rajeev

Durga

Michael Jackson

AGENDA Introduction

Talent Management. What is it? Why now?

Talent management by workforce planning.

Best practices for meeting manufacturing’s global talent

challenge .

Managing the talent crisis in global manufacturing.

Conclusion

INTRODUCTION:What is Talent Management?

Talent management refers to the anticipation of required human capital for an organization and the planning to meet those needs.Right talent at Right place.

Talent management includes a series of integrated systems of

recruiting, performance management, maximizing employee potential, managing

their strengths and developing retaining people with desired skills and aptitude

Talent ManagementTM introduced by Mc Kinsey

consultants, in 1997’s.TM is identified as the critical

success factor in corporate world.TM focuses on

Differentiated performance: A, B, C players influencing company performance and success.

Identifying key positions in the organization.

!!! Surveys show that firms recognize the importance of talent management but they lack the competence required to manage it effectively.

What is Talent?According to McKinsey; talent is the sum of

a person’s abilities, his or her intrinsic gifts, skills, knowledge, experience , intelligence, judgment, attitude, character, drive,

his or her ability to learn and grow.

Why Organizations Need Talent Development?

To compete effectively in a complex and dynamic environment to achieve sustainable growth.

To develop leaders for tomorrow from within an organization.

To maximize employee performance as a unique source of competitive advantage.

To empower employees:Cut down on high turnover rates.Reduce the cost of constantly hiring new people to

train.

HR and TM:HUMAN RESOURCES

MANAGEMENTTALENT MANAGEMENT

o Broad Scope (entire employees)o Emphasize egalitarianismo Focus on administrative functionso Transactionalo Focus on systems with silo approach

o Focus on segmentation (key group of core employees and key positions)o Focus on potential people o Focus on the attraction, development and retention of talento Focus on integratation of HR systems

Future talent pools:

Deficit countries

Surplus countries

At equilibrium

Source: Global Talent 2021 Study conducted by Oxford Economics and Towers Watson, 2012.

IVEY BUSINESS JOURNAL 

BEST PRACTICES FOR MEETING MANUFACTURING’S GLOBAL TALENT CHALLENGE 

by Ashok Divakaran , Matt Mani, and Laird PostFeatured | September / October 2012

THE CHALLENGE IN DEVELOPED ECONOMIES…

▪ In mature economies, manufacturers are grappling with aging workforces; talent shortages in science, technology, engineering, and math (STEM); and outdated employee value propositions.

▪ In the U.S., Japan, Germany, and the U.K., more than half the working population will be older than 40 by 2015, posing a significant loss of institutional knowledge as older workers retire and their seniority commands higher wages and benefits.

▪ To add to this conundrum, more expertise is needed on the factory floor than ever before. Manufacturing itself is becoming more technologically complex with the adoption of ever more sophisticated machinery, robotics, and process-control software

…AND THE CHALLENGES IN EMERGING ECONOMIES

▪ The talent pools in the BRIC nations (Brazil, Russia, India, and China) are becoming shallower, with companies in every industry reporting that the lack of skilled employees and rapidly rising salary expectations are crimping their ability to operate and expand. In high-growth manufacturing centers like Shanghai, the war for talent is further fueled by consistently high employee attrition rates, despite large pay increases and other perks.

▪ Leadership pipelines are under developed, as a result, manufacturers are being forced to bid up for the few qualified local candidates or import highly expensive expatriate managers. Emerging-economy manufacturers are further challenged by the knowledge management requirements of globally dispersed business models

▪ By 2025, 60-75 percent of the workforce in the BRIC countries will be members of Generation Y, people born roughly between the late 1970s and the late 1990s who bring drastically different priorities and expectations to work than older population segments.

1. Innovation in talent sourcing

▪ Employ specialized headhunters: Specialized headhunters are playing an increasingly active role within corporate human resource organizations in manufacturing firms. For instance, the automotive supplier and building efficiency product manufacturing company, Johnson Controls (JCI), has a specialized global talent research team charged with proactively identifying candidates for essential jobs in advance of openings. This team continually scours all possible sources of talent, mines passive talent, and aggressively sells the employer brand to ensure that JCI has a ready supply of job candidates.

▪ Partner with academia: University partnerships are an increasingly important means of filling the STEM talent pipeline. These partnerships extend well beyond on-campus recruiting days to developing custom curricula, integrating working experience with schooling, and identifying and developing promising candidates early in their academic careers.

CONTINUED..

▪ Pursue alternative sourcing: More and more manufacturers are recognizing that talent does not always need to be on the company payroll or in one of its buildings. Some are using services for sourcing and leveraging globally dispersed pockets of skilled talent. One such service is offered by InnoCentive, based in Waltham, Massachusetts. Founded in 2001, InnoCentive acts as an open innovation facilitator, providing a Web-based platform to engage a global network of creative problem solvers to work on critical projects, as needed, for monetary rewards.

▪ Partner with outsourcing service providers: GE Healthcare, for example, has partnered with Bangalore, India-based outsourcing services provider Wipro Technologies to develop ultrasound and imaging products. The scale of the partnership extends across the value chain, including research, product development, product testing, and even sales and service for select products. This innovative partnership has enabled GE to gain access to untapped sources of talent in emerging markets and get new products to market quickly.

2. Investment in global talent competencies

▪ Globalize training and development: Training—including formal classes, informal mentoring, on-the-job experiences, rotational development, special assignments, and international project experiences—is a significant element in the employee value proposition. It can also help manufacturers to develop the global workforce skills without necessarily requiring relocation or having to spend large sums on expatriate packages.

▪ Create a global knowledge management system: Knowledge management and sharing tools are fundamental to how work gets done and how innovations are leveraged and sustained in a global business environment. Cognizant, a technology solutions provider with global operations, has grown revenues 50-fold since it went public in 1998 by relentlessly perfecting its approach to knowledge management and sharing.

3. The cultivation of ‘glocal’ organizational cultures, brands, and employee value propositions

▪ Sell the career and the company: One German electronics manufacturer promotes its employer brand and careers in manufacturing using a variety of tactics. For example, it starts sending a steady stream of company and career information to students in the engineering departments at target universities two years before they graduate.

▪ Create a ‘glocal’ brand: Global manufacturers must go the extra mile to tailor their branding in a way that is locally relevant and compelling. Unilever, for example, not only maintains a strong global brand, but also tailors it to the local market in India, where it operates under the name Hindustan Lever. In this way, the company achieves positive recognition as a global giant with a strong local commitment.

▪ Tailor the employee value proposition: A value proposition encompasses more than pay and benefits; it also includes the organization’s behaviors, mind-sets, norms, commitments, and informal networks. In a global company, many of these cultural elements vary with the prevalent local culture.

A REPORT BY DELOITTE.

TALENT MANAGEMENT BY WORKFORCE PLANNING

REASONS FOR WORKFORCE PLANNING

Workforce planning helps companies focus on proactively understanding the future talent and business environment they need to meet future talent requirements.

In developed markets, science and engineering graduation rates are not keeping pace with baby boomer retirements.

Workforce expectations of employment are changing dramatically, jobs require more complex skill sets.

In emerging market, manufacturers have little knowledge or experience to guide their talent management decision making.

In a nutshell, workforce planning can help manufacturers find people, with the right skills, in the right places, at the right time, and for the right price.

Effective talent management has its roots in three principles:

Aligned talent strategy. Effective solutions. Supportive talent infrastructure.

Aligned talent strategy

The most important ways in which the workforce will contribute to the achievement of the business strategy are clearly understood.

The workforce segments and skills they need have been closely analyzed.

Effective solutions

Investment decisions translate into well-designed programs that can produce desired attraction, development, productivity.

Supportive talent infrastructure

The service delivery model, technology, knowledge and behaviors of leaders, organizational culture, and engagement of employees all directly contribute to the execution of the talent strategy and solutions.

Building blocks of a workforce plan in Talent Management

1. Critical workforce segments and corresponding competencies - identifying the workforce segments that create value.

2. Talent demand and supply forecasts - 3. Alignment of talent management

solutions and infrastructure - Creating alignment relies on the ability of HR professionals to operate as business partners, providing skilled analysis and articulating costs and benefits.

Managing the Talent Crisis in Global Manufacturing- Strategies to attract and engage generation Y

•Depleting talent pipeline in global manufacturing

•Lack of employability•China : plenty of oysters, few pearls

• India: Fighting off the competition•Connecting to Gen Y•Develop-deploy-connect

Conclusion:

Talent management is a continuous process.

Talent management is a new rat for the hungry cats.

The application has increased in many

manufacturing companies but it is a very crucial

part of management.

This will able to make any organization competent,

sustainable, develop leaders and many more.

THANK YOU