Talent Management

Introduction- TM

• Identification• Nurturance• Development• Retention

Talent – ‘identifiable ability that is perceived to add immediate or future value to any prescribed activity, discipline or entrepreneur. ( Maurice )

What is Talent Management?

Comply Automate

Measure

Align

A set of processes that allow a company to increase value provided by their human capital.

• Key processes• Goal alignment• Candidate selection• Performance management• Employee development• Rewards delivery

• Workforce is more:• Suitable• Engaged/Committed• Flexible/Adaptive• Productive

Characteristics Of Good Talent Management

• Ownership and involvement• Business objectives permeate every aspect of the system • The system is measured in real business terms and results are acted

upon • Hire the right people. • Acclimate new employees • Discuss career interests with employees • Identify developmental opportunities • Identify training opportunities • Offer appropriate rewards and recognition • Help employees to advance • Create a workplace that has meaning and purpose

TM – Need of the Hour

40 % - Very critical issue. Top of the mind for Sr. Mgt.

34% - Somewhat critical issue. 23% An emerging issue, but, not yet viewed as

critical.

3% -A relatively unimportant issue.

IMPORTANCE OF TALENT MANAGEMENT

• Recruitment • Retention • Employee development• Leadership and "high potential employee"

development • Performance management• Workforce planning• Organisation Culture

Building Leadership Supply

Requires an integrated Approach Which Addresses Requires an integrated Approach Which Addresses

the Following Areasthe Following Areas:

Assessing new and current

talent

Developing talent

Transitioning Talent

Acquiringtalent

Talent Management Talent Management ProcessProcess

• Executing talent management strategy

• Being custodians of the talent management process

• Providing guidance and fresh thinking about talent management programs

Role of HR in

Talent Management

• Who is talented?Low, Average , High - Performers

• Talented Workforce- they are a set of employees who are self acting individuals, self motivated and committed to the organisation.

Which HR functions is TM present?(Broadly)

• Recruitment & Selection • Training • Career Development • Succession Planning • Performance Management

Limitations- TM

• Mismatch between the demand and supply. • The reluctance of management to spend on

employee training & development.

• The hesitation from the mgt. side to introduce changes in the company.

Parameters to measure the success of ‘TM’ processes

• Towers Perrin Study 2006

Challenges - TM

• Developing existing talent• Forecasting talent need, gaps and surpluses for

next 3 yrs.• Engaging talent• Identifying existing talent • Retaining the right technical talent• Deploying existing talent• Ensuring a diverse pool of talent • Lack of Leadership capability at the senior levels

TM & Business Strategy

Factors driving the focus on talent management :

• Changing competitive landscape • Increased focus on customer satisfaction • Need to change the culture• Need to reduce costs• Growth through acquisition• Geographical growth

Focus Areas for Alignment of Business and Talent Strategy

• Primary business of the organisation• Stakeholders• Value it delivers to its customers• Core business processes – measures• Value the organisation offers to the employees

• Track Learning and Progression

• Quantify the Effect of Training

• Track Learning and Progression

• Quantify the Effect of Training

Measure &Monitor

Measure &Monitor

PlanPlan

• Align Workforce to Strategic Objectives

• Retain Top Talent

• Align Workforce to Strategic Objectives

• Retain Top Talent

InstructInstruct

• Provide Training

• Enable Global Learning

• Provide Training

• Enable Global Learning

Reward &Promote

Reward &Promote

• Give Suitable Compensation and Rewards

• Give Suitable Compensation and Rewards

Learning RetentionLearning Retention

Career ProgressionCareer Progression

Talent Retention Map

Recruitment & Selection

TALENT ACQUISTION

CORE CONCEPT

• Get away from the 'fill in the box' thinking to one that is more pro-active

• And much closer to building the skill sets required to achieve business success.

• Key to success in talent acquisition is the unique way that you are able to tap into the 'top performers' who are not really looking for another job

IMPORTANCE

•Understanding workforce demographics (current and future)

•Identifying economic issues impacting organizational sustainability

•Identifying organizational and cultural issues impacting talent acquisition

•Knowledge of industry trends and emerging issues

TALENT ACQUISITION STRATEGIES

• Strengthen Your Own Direct Reports

• Establish a talent Standard… shape the difference between poor; average and excellent performance -creating a benchmark for evaluation and promotion.

• Influence People Decisions

• Drive a Simple, Probing review of Talent

• Hold Managers accountable for the strength of their talent pools

• Poaching talent

Attraction Drivers

• Work Life Programs• Competitive Pays• Competitive Variable Pays• ESOPs• Challenging work • Career Advancement Opportunities• Pay hikes • Subsidized canteen facilities• Flexi work• Work from home • Job rotation • Others

Performance Management

Performance Management

• Planning • Mentoring • Developing • Rating• Rewarding

Self Appraisals, KRA , Balance Score Card / Talent Score card 360 degree feedback

Superkeepers

– A very small group of individuals who have demonstrated superior accomplishments, and who embody the core competencies and values of the organisationKeepers

– Those who exceed employee expectations

Solid Citizens– Meet organisational expectations

Misfits– Those who fall below organisational expectations

Identify The Employees

Measure and Monitor Talent

Self-Management

•Progress monitoring

•Self assessment

•Competencies update

Employee Management

• Appraisals

• Project reviews

• Performance reviews

• Progress monitoring

Measure and Monitor Talent

Career Progression Metrics

• Training completion & success rates

• Skills improvement rates

• On-the-Job Proficiencies

Measure and Monitor Talent

HOW TO EFFECTIVELY MANAGE TALENT?

• Build a winning environment that people want to belong to

• Establish a talent management mindset, which embeds ownership and accountability for optimising talent and potential

• Create tangible means to identify, select and deploy people of outstanding talent

• Fully engage talent, use it and manage it intelligently

Career Planning & Succession Planning

New NomenclaturesNew Nomenclatures

• Traditional Career

Stable Dynamic

• Boundary less Career (DeFillippi & Arthur, 1994)• Intelligent Career (Arthur et al, 1995)• Post Corporate Career (Peiperl & Baruch 1997)• Web-Career (Fisher, 1997)• Protean Career (Hall, 1976, 1996, 2004)

Baruch, 2006

• Boundaryless Careers are occupational paths that are not bounded within specific organizations but grow through project-based competency development across firms in an industry network.

• Post –Corporate Career - work and careers as moving out of these organizations altogether, into smaller, more entrepreneurial firms and into individual, consultant-type roles

• Intelligent Career-know why (values attitudes, internal needs, identity and lifestyle);

• know how (career competencies, skills, expertise, capabilities, tacit, and explicit knowledge);

• know whom (networking, relationships how to find right people)

• know what (opportunities, threats & requirements),

• know where (entering, training and advancing) and

• know when (timing of choices and requirements)

Web - Career

Work today is about expanding your web bymaking more connections (knowing more people) spinning

stronger strands (gaining more experience and skills)

A Web is flexible, expandable and you can always tear it down and build a new one elsewhere

Protean Career

The career of the 21st century will be proteanA career that is driven by the person, not the organization,

and that will be reinvented by the person from time to time, as the person and the environment change

Characteristics• Focus of psychological success rather than vertical

success• Life long series of identity changes and continuous learning• Career age counts, not chronological age• Job security replaced by goal of employability• Sources of developments are work challenges and

relationships

Elements of Career ManagementElements of Career Management

1. Individual (Self) Assessment of Abilities, Interests, career need and goals

2. Organizational Assessment of employee abilities and potential

3. Communication of information concerning career opportunities with the organization

4. Career Counseling to set realistic goals and plan for their attainment

CAREER MANAGEMENT PROCESS

STEP 1 INDIVIDUAL

ASSESSMENT

STEP 2 INTERPERSONAL

ASSESSMENT

STEP 3 ORGANIZATIONAL

ASSESSMENT

STEP 4 ACTION PLANNING

Who am I? (Career Stage, Path Preference)

How do other see me? (Self-insight, image, personality)

What are my options within the organization? (Knowledge of the organization, future trends, options, opportunities)

How do I achieve my goals? (Motivation, confidence, goal setting, action planning)

CAREER STAGE SCALE

ENTRY

DEVELOPMENT

BALANCED

EXPLORATION

Broad - STAGES OF CAREER DEVELOPMENT

Stage 5: Late Career (ages 55–retirement): Stage 5: Late Career (ages 55–retirement):

Stage 4: Midcareer (ages 40–55):Stage 4: Midcareer (ages 40–55): Stage 4: Midcareer (ages 40–55):Stage 4: Midcareer (ages 40–55):

Stage 3: Early Career (ages 25–40):Stage 3: Early Career (ages 25–40): Stage 3: Early Career (ages 25–40):Stage 3: Early Career (ages 25–40):

Stage 2: Organizational Entry (ages 18–25):Stage 2: Organizational Entry (ages 18–25):..

Stage 2: Organizational Entry (ages 18–25):Stage 2: Organizational Entry (ages 18–25):..

Stage 1: Preparation for Work (ages 5–25):Stage 1: Preparation for Work (ages 5–25): Stage 1: Preparation for Work (ages 5–25):Stage 1: Preparation for Work (ages 5–25):

Succession Planning -DefinitionSuccession Planning -Definition

Strategic, systematic and deliberate effort to develop competencies in potential leaders through proposed learning experiences such as targeted rotations and educational training in order to fill high-level positions without favoritism (Mathew Tropiano, 2004)

Deliberate and systematic effort by an organization to ensure leadership continuity in key positions and encourage individual advancement A structured process involving the identification and preparation of potential successors to assume a new roles

WHAT IS SP?WHAT IS SP?•Constant change planning•An organizational journey, not a project•Ensuring continuity of leadership•Identifying gaps in existing talent pool•Identifying and nurturing future leaders

Why SP?Why SP?

Organization supersede Individuals

– visionaries are those who groom their young ones to take the lead position and to take the cause of organization forward

Ref: Troopiano, 2004

CEO/ Leadership Commitment & Involvement

Education and

Training

Self Development

Competency driven Strategically Targeted

Rotational Assignments

Future Competencies Needed Aligned with Strategic Plan

Results1. Talent Driven

culture2. Accelerated

Development3. Vision for

future advancement

AccountabilityMeasurabilit

y

Succession Planning Model

Challenges in SP

Benefits of SPBenefits of SP

Source: Aberdeen Group, September 2006

Tells aboutTells about

the extent to which leadership job openings can be filled from the internal pool

the av. no. of qualified candidates for each leadership position

the number of positions with two or more ‘ready now’ candidates

the attrition rate from the succession pool

How Do You Develop Leaders?

– Job change/rotation– Special projects and assignments– Exposure and involvement in key business

challenges– Task forces, committees, change initiatives

– Job Performance feedback– Executive coaching– 360-degree feedback process– Developmental assessment workshops

– Critical skill building training programs– Transition training programs– Key external training programs– Self-directed learning initiatives

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