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Objectives of Talent Objectives of Talent ManagementManagement
Capture the right talent and convert it
Identify various upcoming challenges of talent management
Establish upcoming trends in talent management.
Identify the ways to retain the best talent.
Essentials of Talent Essentials of Talent Management Management
Activity of identifying, realizing, and guiding untapped potential in people.
Nurturing and developing of people
Involves individual and organization development
Supportive people oriented organizational culture.
Deliberate approach undertaken
THE ELEMENTS OF TALENT THE ELEMENTS OF TALENT MANAGEMENTMANAGEMENT
The resourcing strategy
Attraction and retention policies and programmes
Talent audit
Role development
Talent relationship management
Performance management
Total reward
Learning and development
Career management
HR process TM Process
Goals Greater efficiency , obedience
Better management of people to achieve strategic business goals
Metrics Shorter time to hire , lower cost to fill, higher percentage of employees reviewed
Higher quality hires , stronger leadership pipeline
Benefits More efficient HR performance
Better business performance
Users HR professionals / power users
Business managers , HR professionals
Decision Makers
HR specialist HR specialist, senior executives, business managers,
CHARACTERSTICS OF HR AND TM PROCESS
TALENT MANAGEMENT TALENT MANAGEMENT PROCESSPROCESS
ClarifyingExpectations
Coaching
Feedback
Appraisal of Talent Usage
ATTRACTION STRATEGIESATTRACTION STRATEGIES
Employer branding
Employer of choice
Targeted recruitment and selection
RETENTION STRATEGIESRETENTION STRATEGIES
Factors affecting retention
Risk analysis
Analysis of reasons for leaving
Areas for action
TALENT ACQUISITION TALENT ACQUISITION STRATERGIESSTRATERGIES
INTERNAL STRATERGIESINTERNAL STRATERGIES
EXTERNAL STRATERGIESEXTERNAL STRATERGIES
Components to Talent Components to Talent ManagementManagement
Strategic Plan
Competencies Required
Talent Inventory
Succession Plan
Recruitment Plan
Development Plan
Successful Talent ManagementSuccessful Talent Management
Senior management’s support
Readiness
Ability to link people and processes
Understandable
Evaluation and review
Talent ManagementTalent Management
Phase 1 Phase 2 Phase 3
Talent Inventory
SuccessionPlanning
DevelopmentPlanning
Identify neededcompetencies
Identify successorsto key positions
Job Rotation
Identify keypositions
Identifycompetency gaps
Developmentassignments
Identify highpotential employees
Developrecruitment plans
Formal training
Mentoring
LeadershipDevelopment
Talent InventoryTalent InventoryIndividual Talent AssessmentIndividual Talent Assessment
Work history
Special Contributions
Major Accomplishments
Key Attributes / Strengths / Special Skills
Aspirations
Development
Development PlanningDevelopment Planning
POSSIBLE SOLUTIONSPOSSIBLE SOLUTIONS
Ways To Manage TalentWays To Manage Talent
Connecting corporate strategy with the quantity and quality of leadership required to execute it.
Driving leader’s accountability for the cultural strategies that support business goals.
Identifying those individuals with the highest leadership potential across the organization early in their careers.
Assessing high-potential talent against a holistic and future-facing definition of leadership
Accelerating the development of high-potential talent and improving the quality of executive leadership
Enhancing the focus on growing better leaders at all levels from first line upwards
Talent ManagementTalent Managementshould be about…should be about…
Enabling employees to deliver business success
Ability to direct the positive energy of people to the right areas.
How it will achieve the specific goals of the organisation
Valuing the natural talents and aspirations of the employees
Understanding what blockages can spoil all the hard work
Operating people processes that join together with one another and with the business’s goals
Understanding how to manage people for alignment as well as ability
Start with the end in mind—talent strategy must be tightly aligned with business strategy
Talent management professionals need to move from a seat at the table to setting the table
One must know what one is looking for—the role of Success Profiles
The talent pipeline is only as strong as its weakest link
Talent Management is not a democracy
Potential, performance and readiness are not the same thing
Talent management is all about putting the right people in the right jobs
Talent management is more about the “hows” than the “whats.”
Software does not equal talent management
Job Stretch and Mobility
Freedom and Stimulation
Deep Immersion
Teaching and Coaching
Diversity of Talents and Personalities
Horizontal Growth Paths
DDI’s Talent Management DDI’s Talent Management Model Model
Tackling Talent Shortages
Managing Talent and Improving Leadership Development
Category 1: Developing and Retaining the Best Employees
Category 2: Anticipating Change
Category 3: Enabling the Organization
Mastering the Fundamentals of HR
Sustainability and Corporate Social Responsibility
HOW CAN HR TACKLE THESE HOW CAN HR TACKLE THESE CHALLENGES?CHALLENGES?
Focus on Managing Talent
1. Analyze the age of their workforce down to the job-function level
2. Develop plans for individual career management
3. Develop plans for knowledge management for the firm
4. Encourage lifelong learning to renew skills and keep them update
5. Develop a better understanding of staffing needs and trends, and develop tools to acquire, develop, retain and reward talent based on workforce demands
6. Grow comfortable in a global world with geographically dispersed workforce
Role of HR in Talent Role of HR in Talent ManagementManagement
Executing talent management strategy
Being custodians of the talent management process
Providing guidance and fresh thinking about talent management programs
Talent Management Helps inTalent Management Helps in
Increasing
Employee satisfaction
Worker productivity
Learning effectiveness
Reducing
Employee turnover
Time to ramp new hires
Executing Talent Executing Talent ManagementManagementStrategies through People, Strategies through People, ProcessProcessand Technologyand Technology
PeoplePeople
From
HR owned function/ process
Siloed HR functions based on process
Limited by of HR competencies, history & assumptions
To
Business-owned strategy that the HR Business partner develops
Unified talent organization models
Capability to manage talent
ProcessesProcesses
From
Siloed & integrated
Peanut butter approach same for everyone
To
Unified & fluid
Enables different strategies for “All & Few”
TechnologyTechnology
From
Modules
Process support
Developed to serve HR
To
Unified & fluid
Business decision support
Developed to serve the business and employees
ConclusionConclusion
..at any one time 59% of employees will be open to working elsewhere
“Talent Management” has become one of the most important buzzwords in Corporate HR and Training today.
THANK YOU!!!THANK YOU!!!
Neha Taneja
Pallavi Singhvi
Swati Pasricha
Siloni Sangra
Bhavisha Sharma
Lovleen Bhola
Nidhi Bhandari