Workshop on Talent management16 Oct 2014
Part I
•SOME STATISTICS
Today’s Employees---
• Want a voice• Want to balance life and work• Are opportunity seeking• Are averse to transactional work activities• Want to know what is going on• Want freedom of choice
New realities in today’s workforce
• 25% global workforce looking for their next work• 45% talking to recruiters for their next job• 12% actively looking for a job• 13%casually looking a few times a week• 15 % talking to their networks• In India- 42% actively searching for new jobs.
Satisfaction levels
• 27% of employees are very satisfied• 45% are somewhat satisfied• 14% are neutral• 10% are somewhat dissatisfied• 4% are very dissatisfied
• Is satisfaction a guarantee of loyalty??
Most important factors in seeking or considering a job
• Greater opportunities for advancement• Better compensation and benefits• More challenging work• Better fit for skill sets• More learning opportunities
Other important factors
• Improved job title• Better office location• Equation with current team• Relationship with manager• Personal reasons
Factors influencing choice of company
• Company has a reputation as a great place to work in
• Reputation for great products and services• Reputation for great people• Reputation for being prestigious
An engaged employee---
• Is passionate about what he does• Constantly learns and grows at work• Comfortable promoting himself and his ideas at work• Very career focused• Actively seeks information that helps him fit better at his
job.
Top professionals----
• Engage in professional networking• Research ways to update skills and improve career path• Research new career opportunities• Apply for new job with current employer• consider starting new business/ venture
Implications for HR team
• Active engagement with prospective / current employees• Invest in strengthening talent brand• Take local attitudes into account• Don’t get complacent about current employees• Don’t sell a position on compensation and title alone• Don’t get put off by passive candidates
Source- Linkedin Global workforce survey 2014
PART II
•TALENT MANAGEMENT INPERATIVES
Systems Thinking
Mental Models
Personal mastery
Team learning
Shared Vision
The Five Disciplines of a Learning Organization
Peter Senge’s “ The Fifth Discipline”
WHAT ARE THE CHARACTERISTICS OF A TALENTED WORKFORCE?Is talent upwardly mobile? Why?
Categories of employees
• Super keeper• Keeper• Solid citizen• Misfit
Talent management
• Organizations commitment to recruit, retain and develop the most talented and superior employees in the job market
• The development and integration of Hr processes that attract, develop, engage and retain the knowledge, skills and abilities of employees that will meet current and future business needs business needs.
Org culture
sourcing
attracting
selecting
onboarding
integrating
developing
engaging
retaining
promoting
Talent management cycle
Stages of the Talent management Process
ENTRY• Recruitment• Selection• Orientation• Placement
RETENTIONCultureImmediate managerInvolvementPerson- environment fit
DEVELOPMENT• Competency Assessment• Development Opportunities• Mentoring• Challenges
PERFORMANCE• Role Clarity• Performance Agreement• Feedback• Recognition and Reward
Entry
• Anticipation of future workforce needs• Efficient recruitment programmes using various media/
sources• Testing systems• Employee referral• Orientation and onboarding
Retention
• Norms and values• 0
Four Steps to the Talent management process
Step 1- Develop assessment tools and scales
• Competency definition and measurement scale• Performance appraisal definition and measurement
scale• Talent potential forecast and measurement scale• Apply measurement scale to each job
Step 2- Develop Training and Development Application Tools• Coaching Guide• Assemble directory of best training programmes , top
books
Step 3- Evaluate each employee using assessment tools
Step 4- Prepare action reports• Create bench strength summary• Create Individual talent competency development forms
List of Competencies
• Action Orientation• Communication• Creativity/ Innovation• Critical Judgment• Customer Orientation• Interpersonal Skill• Leadership• Teamwork• Technical/ Functional Expertise
Talent management Strategies
• Coaching for retention• Outsourcing and outsourcers• Succession planning• Developing leadership through competencies• Employment branding strategies
Challenges in Talent management
• Plateaued Careers• Glass ceilings• Retirement/ Transition Planning• Outplacement Programmes