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A
PROJECT REPORT
ON
TALENT MANAGEMENT
AT
BY
DEEPIKA SANGHI
MBA 3rd SEM
CONTENT
ACKNOLEDGEMENT ………………………………. 03
CERTIFICATE ……………………………………….. 04
PREFACE………………………………………………. 05
COMPANY PROFILE………………………………… 06
INTRODUCTION………………………………………. 24
LITERATURE REVIEW………………………………. 32
RESEARCH METHEDOLOGY………………………. 35
ANALYSIS AND INTERPRETATION……………… 38
CONCLUSION………………………………………… 41
SUGGESTION……………………………………………42
APPENDIX-I…………………………………………… 45.
APPENDIX-II…………………………………………..... 47
2
ACKNOLEDGEMENTIt is privilege to express my gratitude & sincere thanks to BVM College of Management Education Gwalior has given me the opportunity for summer training report on the topic “TALENT MANAGEMENT” I am thankful to Mrs Savita Singh (chair person),Mr. Manoj S. kushwah (Director), Prof. A K saxena (Director Academic) Dr. V K GUPTA (Principal), Dr. Ajay
Phaltankar (HOD),Mr. Vikas Gupta (Head Training & Placement) and faculty guide Mrs. Richa Benarjee for her valuable guidance and support throughout report preparation.
It was a great privilege for me to get an opportunity to complete my summer training at J.K. TYRES on the subject of “TALANENT MANAGEMENT” This project work is not only a proof of my sincere effort but also an outcome of inspiration and moral support given by the employees as well as the management of J.K. TYYRES .
First and foremost I take this opportunity to express my sincere gratitude to Mr Omkar Singh for providing me an oppourtunity to complete summer training project entitled “TALANT MANAGEMENT” in their organisation for period of forty five days . I am indebted to Mr. Vishnu Bandil for his continuous support and guidance , which sharpened by vision on this project.
My sincere thanks and respect to all the senior officer and participants who formed the basis of this study and who were extremely cooperative during data collection deserve my hart felt thanks.
.
3
DATE :-
PLACE :-
DEEPIKA SANGHI
MBA II sem
CERTIFICATE
This is to certify that Deepika Sanghi is a student of MBA II SEM BVM college of MANAGEMENT Education Gwalior MP.
We have no objection for him to carry out a project work titled “TALENT MANAGEMEN”
in our Organisation and for submmiting the same to the Jiwaji University as a part of fulfilment of the MBA Program.
During the training he has shown intrest in learning various things and given good Suggesssion , She has done his proect on “TALENT MANAGEMENT”
WE wish her successful carrier
For. J.K. INDUSTRIAL LIMITED
B .D. ROY
(CHIEF H.R & Admin)
4
PREFACE
A project is a scientific and systematic study of real issues on a problem with the
application of management concept and skills. The study can deal with small or big issues in
any division of an organization. It can be case study where a problem has been dealt with,
through the process of management. The essential equipment of a project this that, it should
contain scientific collection of data, analysis and interpretation of data leading to valid
conclusion
Summer Training is an essential part in M.B.A curriculum. It enables the student to share the
real experience in industry. My summer training has placed in J.K TYRES for the period of
Eight weeks in GWALIOR.
The topic of my project was Talent management
This project report tends to give a sharp picture of sense of INDUSTRIAL RELATOION among employees of JK TYRE.
5
INDUSTRIAL PROFILE
6
INDUSTRIAL PROFILE
J.K. Tyre – About the Company
J.K. Organization’s flagship company, J.K. Tyre, is the country’s leading four-wheeler tyre
manufacturer, and the 18th largest tyre manufacturer in the world. Set up in 1977, foreseeing
the advent of an automotive revolution in the country,J.K. Tyre was set up in technical
collaboration with General Tyre international co, USA. There has been no looking back since
then, with J.K. Tyre racing ahead year after year, registering growth rates of over double that
of the industry average.
Ever since its inception it has been J.K. Tyre's belief in the value of technological superiority
that has made it grow by leaps and bounds. This division produces and sells tyres and tubes
under the brand name "J.K. Tyre" for Truck, Buses, Passenger Cars, Jeeps, Light Commercial
Vehicles, Multi Utility Vehicles and Tractors.
The company pioneered Steel Radial Technology in India in 1977 and continues to be the
industry leader in the Radial segment in India. J.K. Tyre is the only Tyre Manufacturer in the
country to produce high performance 'T' & 'H' -rated steel radial tyres. J.K. Tyre has
consciously followed a policy of continuously modernizing and expanding its tyre
manufacturing facilities to retain its edge in the market place.
Our customer base covers virtually the entire Original Equipment Manufacturers (OEMs) in
India together with Replacement Market for four wheeler vehicles, Defense and State
Transport Units. Besides India, we have a worldwide customer base in over 45 countries
across all 6 continents. To keep pace with the market demand as well as technological
leadership in Indian market, J.K. Industries acquired Vikrant Tyres Limited, Mysore in 1997.
7
J.K. Industries and Vikrant Tyres Limited are the only tyre companies in India to have
received all three ISO 9001, QS 9000 and ISO 14001 certificates. This indeed is a true
reflection of our commitment to system oriented approach. The company has a technical
collaboration with M/s Continental AG, Germany, which is among the top five tyre
manufacturers in the world to keep pace with latest technological developments. To stay at
the forefront of technological advancements a state of art Research & Development Centre,
HASETRI, was set up, which remains the nerve centre for providing cutting edge technology.
In a short span of time it has emerged as the 17th largest tyre manufacturer in the world an
achievement in itself.
With three plants located in Rajasthan, Madhya Pradesh and Karnataka, J.K. Tyre is the
largest manufacturer of truck and bus tyres in India. The truck and bus tyres produced
account for nearly 74% of the total tyre business in India, thus giving J.K. Tyre an undisputed
position. Additionally, J.K. Tyre is the only manufacturer of truck/ bus steel radial tyres, and
the second largest manufacturer of 4-wheeler tyres in the country.
Location
In 1991 J.K. Industries setup a plant at Banmore, since it has been a symbol of quality for
millions of people. Today it is very well known for its punch line “J.K. TYRE - TOTAL
CONTROL”. Banmore plant is located 25 Kms. short of Gwalior on AB road. Banmore
Tyre Plant manufactures and markets under the supervision of highly qualified technicians.
The quality control standards are adhering to, at this modern manufacturing unit equipped
with advanced machinery and technology. Research is ongoing process at JK Tyre’s well
equipped laboratory. So, its development keeps pace in changing needs and trends.
8
Organizational Structure
Business Unit 1
Business Unit 2
Business Unit 3
Business Unit 4
BU # 1 - Mixing & Dipping
BU# 2 - Bias Tyre Processing
BU# 3 - Radial Tyre Processing
BU # 4 - Legal, Excise & Dispatch (Logistics)
SSU # 1 - Technical Services
SSU # 2 - Engineering Services
SSU # 3 - Commercial & Accounting Services Including Finance & Administration
SSU # 4 - Personnel & HR & Security
SSU # 5 – MIS & Industrial Engineering.
9
Support Service Unit 1
Support Service Unit 2
Support Service Unit 3
Support Service Unit 4
Support Service Unit 5
Vice President
Unit Head
Company History
1951
The company was incorporated as a private limited company in West Bengal in 14th February, 1951. Until 31st March 1970, the company was engaged in the managing agency business. Thereafter the company decided to undertake manufacturing activities and obtained a letter of intent in February 1972 for the manufacture of automobile tyres and tubes.
The letter of intent was converted into an industrial licence in February 1974 for the manufacture of 4 lakh nos. each automobile tyre and tubes per annum.
The company was converted into a public limited company on 1st April 1974. The manufacturing project was promoted by Straw Products Ltd and J.K. Synthetics Ltd. The company entered into technical collaboration with General Tire International Co., U.S.A., (a subsidiary of General Tire & Rubber Co., U.S.A.) for technical services for a period of 5 years and sales agreement for the supply of technical know-how, engineering and documentation for operational facilities (for a period of 8 years from 23.8.73).
Under the collaboration agreement, the company has the right to use on its products the wording Made in collaboration with General Tire International Co., USA.
1982 The company's technical collaboration agreement with General Tire International Co.,
was renewed for a further period of 5 years.1987
The overall working resulted in substantial profits despite a51-days strike as well as go-slow from 14th October. The strike had since then been resolved and amicable settlement was reached. Efforts were on to launch a new pattern in steel belted radial tyres.
1988 New steel radial tyres for Maruti Gypsy and Tata mobile were introduced The
Company proposed to incur an expenditure of Rs300 lakhs for installation of latest and sophisticated R&D equipment.
1989 Several new patterns and sizes of tyres were introduced including a semi-lug Nylon
Truck tyre, all of which were well received in the market.1991
Investment, Ltd., Hidrive Finance Ltd., Panchanan Investment Ltd., and Radial Finance Ltd., J. K. International Ltd., Shivdham Properties Ltd., and J.K. Asia Pacific, Ltd., are subsidiaries of the company
10
1992 The J.K. International division expanded its activities by opening its office in
Moscow besides starting Company's subsidiaries in U.K. & Honkong. The radial tyres for tractors and business launched in the previous year were well received.
1993 New radial tyres `Brute' and `Ultima' were introduced. The Company was in the
process of developing steel belted radial tyres for the prestigious cars in the Mercedes Benz, Peugeot Daewoo race and Opel Astra. A new pattern developed for bus and trucks `PE-T8' was well received in the market.
1994 The company maintained its pace of growth, despite steep rise in raw material and
input costs and competition. The Company effected an all round cost reduction and attained higher capacity utilization at both the tyre plants at Jaykaygram and Banmore.
The T-rated Ultima tyres launched for new generation cars Found its acceptance in DCM Daewoo's `Ceilo'. Also J.K. Steel radial was chosen for
Mercedes Benz India. The Company undertook to develop steel radials for GM' `Astra'. PAL's `Peugekot' FIAT's, `UNO' and M & M's `Ford'.
The Company launched a premium truck tyre `Jet Trak' – 39 which was introduced to meet the need of the heavy load market. The new tractor rear tyre `SONA' was well received in the market.
1996 During this period, a new Car tyre Jet Drive XS, the widest nylon car tyre for Maruti 800
was launched. Along with new semi-lug and heavy duty lug tyre for trucks, a new lug tyre for super heavy load applications Jet Trak 39 was also introduced. In the Radial category, Ultima XR Radial, a terrain tyre was introduced. All these products were well received in the market.
Both the tyre plants operated to full capacity. In line with JK tyre, the radials unit introduced the dual contact high traction and high performance Aquasonic steel radial car tyre. The unit also developed India's first and only H-rated ultima Xs' specially for Mercedes - Benz Cars.
2000 The Company proposes to reduce its debt by Rs 125 crore in the current fiscal from the
current level of Rs 635 crore by way of loan repayment. The Company and Indian Oil Corporation have entered into a marketing alliance for
installing digital air pressure gauges and setting up sales and services outlets at IOC petrol stations throughout the country.
2001 Raghupati Singhania managing director of J K Industries has been appointed the 19th
Chairman of Automotive Tyre Manufacturers Association, the representative body of tyre industry in India.
2002
11
J.K.Industries Ltd has informed BSE that CRISIL has assigned a P1+ rating to the commercial Paper programme of the company.
2003 J. K. Industries Ltd (JKI) has a new Marketing Director in Mr Ajay Kapila. Before
joining JKI, Mr Kapila was Senior Vice-President (Sales and Marketing) at Kinetic Engineering Ltd. He was also Director on board and operational head of Kinetic's direct selling arm - Kinetic Marketing Services Ltd.
Completes its comprehensive restructuring exercise of businesses that leads to its emergence as a pure automotive tyre company. Along with the de-merger of its non-tyre business, Sugar and Agri Seeds, into separate companies namely JK Sugar Ltd and JK Agri-Genetics Ltd, JKI also completes the merger of Vikrant Tyres Ltd with itself
J. K. Industries delists from Jaipur Stock Exchange divested its wholly-owned subsidiary called J.K. Drugs and Pharmaceuticals Ltd to TEVA Pharmaceuticals of Israel.
2004 J K Industries Ltd has informed that its securities are delisted from Delhi Stock
Exchange Association Ltd (DSE) w.e.f. January 29, 2004.2007
JK Industries Ltd has informed that the name of the company has been changed from J K industries Ltd to JK tyre &Industries Ltd w.e.f. April 02, 2007.
Core Values
12
JK Organization has been a forerunner in the economic and social advancement of India. It always aimed at creating job opportunities for a multitude of countrymen and to provide high quality products. It has striven to make India self reliant by pioneering the production of a number of industrial and consumer products, by adopting the latest technology as well as developing its own know-how. It has also undertaken industrial ventures in several other countries.
JK Organization is an association of industrial and commercial companies and charitable trusts. Its member companies, employing nearly 50,000 persons are engaged in the manufacture of a variety of products and in diverse fields of commerce.0Trusts are devoted to promoting industrial, technical and medical research, education, religious values and providing better living and recreational facilities. With the spirit of social consciousness uppermost in mind, J.K. Organization is committed to the cause of human advancement.
In short company’s core values are 1. Caring for people.2. Integrity including intellectual honesty, openness, fairness and trust.3. Commitment to Excellence.
Mission & Vision
Vision
To be amongst the most admire companies in India committed to be excellence.
Mission
1. Be a customer obsessed company.2. No.1 Tyre brand in India.3. Deliver enhanced value at all stakeholders.4. Most profitable Tyre Company in India.5. Enhance global presence through acquisition.6. Motivated and committed team development for high performance organization.
13
Functional Departments of JK Industries
There are the functional departments at JK Industries [JK] they are follows.
1) Production
2) Engineering
3) Technical
4) Quality Assurance
5) Materials
6) Human Resource Management
7) Production Planning
8) Personal & Administration Secretarial
9) Internal audit
10) Electronic Data Processing (EDP)
11) Industrial Engineering
12) Finance
13) Marketing
14) Technical services.
1. Production Department
The production department has 1532 workers who are looking after production of tyres,
tubes & Flaps at VTP. VTP presently has a production capacity of 10.30 lakhs tyres per
annum and 8.10 lakhs tubes per annum. It has entered into a collaboration agreement with
M/S continental tyres, Germany in 1998 for technology up gradation.
2. Marketing Department:
Products of J.K. Tyre have good acceptance both in domestic and international markets.
Broadly, the customers are categorized into & segments like:
Original Equipment manufactures (Domestic & Exports)
Overseas Markets
Institutional sales &
Replacement Markets.
14
It has been the supplies for tyres for VOLVO, ASHOK Leyland and Tata Motors. It is the
largest exporter from India accounting 30% of the total quantity exported.
Exports
JK industries are exported to over 68 countries. Major countries include United States of
America, Australia, United Kingdom New Zealand, Hong Kong Netherlands and most of
Middle East, Africa and Asian countries.
Marketing Strategy
J. K. Tyres has adopted Total control campaign beginning with print campaign, which will
focus on the company’s research and development. The Company has targeted 17 top cities
which accounts for more than 60 percent of radial tyre sales for its outdoor media involving
billboards and double Decker buses in Mumbai. For joint promotions, JK Tyre will partner
with Maruti Udyog Ltd Brands, Tata India & Fiat Uno for cars & Ashok Leyland & Tata for
trucks, among others. Moreover, it will intensely pursue customer contact program and
organize go-Karting events in 13 cities like Delhi, Indore, and Ahmadabad & Hyderabad.
3. Human Resource Management:
The main functions of HR Dept- of JKI at VTP is
Recruitment and Selection
Training & Development
Performance Appraisal
Implementing Incentive Schemes
Coordinating among different departments.
Maintenance of Industrial Relationship.
4. Finance Department Finance and Accounts
Preparation of MIS & BRR (Business Review Report)
Finalization of monthly, quarterly, half-yearly and annual reports of the company.
Co-ordination with statutory auditors & tax auditors
Finalization of cost accounts.
15
Cost reduction and cost of quality report.
Review of books of accounts
Preparation of trial balance
Overhead position of BRR.
5. Quality Assurance Department:
The people of JK Tyre will have an organization committed to quality in everything they do.
They continuously anticipate and understand customer’s requirements, convert these into
performance standards for products and services and meet these standards every time. Full
customer satisfaction is the motto.
Management Style
Open & Free Communication
Man Power Development
Training Needs & Fulfillment
CSR – Active Participation
Quality Excellence concept & Customer Care
Integration to OE Supplies
Each Business and Support Service Unit work keeping in view the statutory requirements and
company’s profitability. Company has been awarded with number of Quality Awards.
16
Financial performance
Particulars ------------------- in Rs. Cr. -------------------
Sep '03 Sep '04 Sep '05 Sep '06 Sep '07
Liabilities
Equity Share Capital
37.46 37.46 37.46 30.79 30.79
Reserves 856.53 818.76 745.14 560.93 503.13
Secured Loans
738.19 656.51 671.28 724.77 686.82
Unsecured Loans
99.87 94.16 159.22 219.10 228.13
Current Liabilities
577.64 641.54 686.44 784.08 927.78
Provisions 20.96 21.42 25.90 27.59 35.90
Total Liabilities
2330.65 2269.85 2325.44 2347.26 2412.55
Assets
Gross Block1,855.63
1,884.26
1,938.72
2,084.22
2,156.07
Less: Accum. Depreciation
590.80 677.15 764.74 860.03 957.27
Net Block1,264.83
1,207.11
1,173.98
1,224.19
1,198.80
Capital Work in Progress
7.02 16.43 61.63 22.51 20.34
Investments 252.02 252.26 250.04 61.46 62.60
Inventories 211.31 178.17 244.03 368.59 502.85
17
Sundry Debtors
412.59 449.52 411.79 477.89 435.52
Cash and Bank Balance
14.39 26.83 30.22 33.03 23.87
Total Current Assets
638.29 654.52 686.04 879.51 962.24
Loans and Advances
143.15 112.71 134.92 144.14 155.00
Fixed Deposits
10.93 11.40 5.89 6.29 5.35
Total CA, Loans & Advances
792.37 778.63 826.851,029.94
1,122.59
Miscellaneous Expenses
14.41 15.42 12.94 9.16 8.22
Total Assets 2330.65 2269.85 2325.44 2347.26 2412.55
18
Product & Market
Product
JK Tyre manufactures tyres, tubes and flaps of various ranges.
Market
Their customer base covers virtually the entire original equipment manufacturers (OEM’S) in
India together with replacement market for four wheeler vehicles, defence and state transport
undertakings. Besides India they have world wide customer base.
KEY CUSTOMERSCOMPANIES/ INSTITUTIONS BASE
BUSINESS (%)
Replacement Market (Dealers/ Distributors)
3500 – Spread all across the country
53
OEM’S MUL, M&M, Telco, HM, Bajaj Tempo, Ashok Leyland
32
Export 50 countries across the six continents
11
Institutions Defence, STU, Fleets 4
19
Competitors
Since 1991 with the opening of Indian economy, the business is facing fierce competition
from MNC’s.
Product Competitors FactorsPassenger Car Tyre Bridgestone International Brand Image
Bus and Truck Tyre MRF, Apollo Marketing and Product mix
Agriculture Tyre MRF, Ceat Product Range
Others (Tube & Flap) MRF Brand Loyalty
Various Product Range
J.K. Tyre is the leader in the Truck/Bus segment. With its customer oriented state-of-the-art
product offerings, it has outpaced the industry growth rate and surged ahead of its
competitors.
Our tyres are specifically designed in accordance to the different loading and application
requirements of our valued customers. The "Unique SEV System" in its Truck/Bus and
LCV range of tyres ensures a highly efficient and uniform tyre curve - the best option for a
wide variation of road and load conditions under which trucks operate in our country. The
SEV System offers the outstanding advantages of Super Mileage, Greater Strength and
Higher Retreadability - They Run More to Earn More.
International Domestic
20
SWOT Analysis
Strength:
Over six decades of experience in tyre manufacturing
Self sufficient in tyre production
Successful & fast absorption of international technology to suit Indian condition &
needs.
Well knit distribution network.
Tyre is easily available & serviced even in remotest parts of the country.
Weakness:
In comparison with the global standards, smaller size of plant & hence less economic
units.
Lower productivity of labor in comparison to world standards.
Out dated labor laws
Proliferation of units
High cost of raw materials.
Opportunities:
Robust economic growth, particularly vehicle production growth resulting in health
demand growth for tyre in the feature.
Export culture inculcated enabling participation in world tyre market.
Excellent brand equity of Indian cross ply/bias truck Tyres in the world market can
open market opportunities for radial tyre.
Emergence of Indian as a hub for production of small car is expected to give a thrust to
auto component & tyre segment.
Improved road infrastructure especially on the golden quadrilateral & north-south, cast-
west national highway project will result in significant increase in movement of goods
& passenger traffic through roads with resultant growth in demand for tyres.
21
Threats:
Faster pace of opening up of the economy will increase import of tyre.
Reduction in important duties will lead to high volume of type imports.
Multinationals with financial muscle setting do manufacturing facilities in the country.
Confessionals import tariffs for countries like china & South Korea under regional trade
agreements will lead to additional imports.
22
JK Industries (VTP) Board of Directors:
Chairman Hari Shankar Singhania
Vice Chairman & Managing Director Raghupathi Singhania
LIC Nominees Arvind Morotoom Lalbhai
Arvind Singh Mewar
Bakul Jain
B.G.Jose
IDBI Nominees Om Prakash Khaitan
Dr. Vinashil Gautam
Managing Director Bharath Hari singhania
Deputy Managing Director Vikrampati singhania
Whole-time Director Swaroop chand Sethi
Auditors Lodha & Co chartered Accountants.
23
INTRODUCTION
24
INTRODUCTION
This new age economy, with its attendant paradigm shifts in relation to the human capital, in terms of its acquisition, utilisation, development and retention, has placed a heavy demand on today’s HR professionals. Today HR is expected to identify potential talent and also comprehend, conceptualise and implement relevant strategies to contribute effectively to achieve organisational objectives. Hence a serious concern of every HR manager in order to survive this ‘War for Talent’, is to fight against a limited and diminishing pool of qualified available candidates to replace valuable employees when they leave, dramatically underscoring the difficulty to attract, motivate and retain the best employees in an organisation. To analyse the reasons, we first need to understand what “TALENT” means. People have different views and definitions. According to Leigh Branham, vice president, consulting service at Right Management Consultants and author of the book, “Keeping People Who Keep You in Business”, a talent is not rare and precious. Everyone has talent – too many to possibly name all. Talent is behavior; things we do more easily than the next person. We speak of “natural born talent” but those with a gift, knack, ability or flair for something can refine and develop that talent through experience. Talent, however, cannot be taught. As someone once said, “you can teach a turkey to climb a tree, but it is easier to hire a squirrel”. Vice President, HR of Seagram, Mr. Gopi Nambiar, says talent can be best described as a combination of abilities and attitudes. The real trick is to match the right motivated talents to the right role, individually and collectively, harnessing and harmonizing this crucial attribute to achieve the objectives of your company. Today,
companies have become fiercely competitive when it comes to attracting and retaining talent. According to Branham, 75 per cent of the senior executives admit that employee retention is a major concern today, the obvious reason being the ‘increasing rate of turnover’. This dynamically changing and volatile demand-supply equation with such erratic attrition trends and cut throat competition has led organisations to focus on mechanisms pertaining to attracting and retaining talent. It is an accepted truth that turnover will happen and companies need to device a strategy to curb unprecedented turnover from affecting organisational success. As the Director, HR (Asia) of Bausch & Lomb, Mr. P.G. George declares, achieving zero percent turnover is neither realistic nor desirable. People tend to seek change for a variety of reasons—more money, better benefits, the appearance of a greener pasture- and this has been a practice from the very beginning. Then, what is it that has really changed? Despite intense competition being the key to market development and success, organisations have failed to identify some of the major reasons which highlight why ‘good performers’ leave. In his study, Branham clearly states that one major reason why people leave their organisation is because of the organisation’s failure to bring about a correlation between pay and performance. Human Resource experts in the industry believe matching the right blend of talent with the right job profile can lead to superior performance .The present scenario with abundant opportunities has triggered a wave of employees, perpetually “on the move”, forever seeking better opportunities whenever, wherever and however they
25
can. What is behind the restlessness of these hard to keep employees? By focusing on productivity, organisations are realising that it is imperative to hire employees who can do the job and be successful at it. The organisation no longer wants to just hire to hire, in fact they are striving to find the right people, bring them into the organisation and retain their services. One of the critical functions of HR is a sound Human Resource Planning through which they are able to project the demand for human resource and thereafter formulate strategies for acquiring them. As the leading HR heads of the country point out, the solution is not just about finding the correct retention mechanisms , but it starts from the very beginning by devising ways to acquire the right people for the right jobs.
Talent Management v/s Traditional HR Approach
Traditional HR systems approach people development from the perspective of developing
competencies in the organization. This can actually be a risk-prone approach, especially for
companies operating in fast evolving industries, since competencies become redundant with
time and new competencies need to be developed. Thus, over time, the entire approach to
development of people might be rendered obsolete calling for rethinking the entire
development initiative.
Talent management on the other hand focuses on enhancing the potential of people by
developing capacities. Capacities are the basic DNAof an organization and also of individual
potential. In fact, the following appropriately describes the role of talent management:
Point of Departure Navigation Point of Arrival
Translating organizational vision
into goals and mapping the
required level of capacities and
competencies to achieve goals
Aligning individual
values and vision with
organizational values
and vision
Clear understanding of the
varied roles within the
organization and
appreciationof the value-
addition from self and others
leading to building a culture
of trust, sharing and
team orientation
Assesment of talent to profile the
level of capacities and set of
competencies possessed within
the organization
Enhancing capacities to
learn, think relate and act
through development
Initiative
Individual growth to meet
and accept varied,
incremental and
transformational roles in
an overall scenario of
acknowledged need for
changeGap analysis and identification of development path
Helping individuals
realize their full
Developed individuals
enabling breakthrough
26
potential through
learning and
development
performance
The focus of talent management
At the heart of talent management is developing the following intrinsic human capacities:
1. Capacity to learn (measured as learning quotient LQ)
Enhancing an individual’s capacity to learn improves the person’s awareness. It adds to the
person’s quest to know more and delve into newer areas. This capacity is developed by
holistic education that teaches how to learn, an enabling environment and good mentoring.
Capacity to learn comprises of the following:
Introspection is the individual’s willingness to look back and learn ability to learn from mistakes and identifying areas of improvement. Reflection and contemplation is the individual’s ability to observe his own thoughts,
actions and emotions/feelings and using the awareness to improve further and perform better.
Getting into the flow is the individual’s ability to get into a new experience and flow with the experience. It is the person’s child-like ability to derive joy out of learning.
2. Capacity to think (measured as conceptual quotient CQ)
An individual’s quest to know more leads his mind to create images. Enhancing an
individual’s capacity to think helps the person not only take learning to a higher level
of intellect but also improves creativity. Capacity to think comprises of the following: Analysis is about asking the right questions and breaking complex things into simpler elements. Creativity is about generating new thoughts and breaking the existing patterns of thought. Judgment requires both. This is what helps an individual take quality decisions.
3. Capacity to relate (measured as relationship quotient RQ)
It is important for an individual to be able to relate to his learning and thoughts. This leads
the person to be able to relate to other individuals and the environment around him. The
27
outcome is indeed a sense of belongingness and an environment of trust at the organizational
level and team spirit at the individual level. Capacity to relate
comprises of the following: • Listening is the individual’s ability to listen with warmth and respect. Active listening is free of biases, evaluation and pre-conceived notions. • Empathizing is the ability to put self in someone else’s shoes and getting out of one’s own shoes. • Trust requires a combination of both empathizing and listening. It is about authenticity, openness and genuineness. 4. Capacity to act (measured as action quotient AQ)
Action is how the above three capacities of an individual are manifested. It is the individual’s
ability to enact his intentions. Following are components of capacity to act:• Organizing refers to the individual’s ability to organize his time and resources so as to enable him to convert intentions into reality. • Implementing means delegating, attention to detail, and focus on the right process. • Perform under pressure means the ability to work under pressure and time constraints and handle multiple tasks without negative stress.
The individual’s values help in discriminating amongst alternatives and act as the bedrock for
decisions. They act as multipliers in enhancing the individual’s capacities, a sigma of which
reflects the individual’s true talent. Thus: (LQ + CQ + RQ + AQ) X Values = Talent
Organizations provide individuals the opportunity and space for physically manifesting their talent into performance for achieving individual and organizational vision. Talent manifests into performance as follows :
Talent
+
Vision/Mission/Strategy
+
Skills & Competencies
+
Role & structure
28
+
Opportunity
+
Encouragement & Recognition
+
Training & Development
+
Coaching
+
Action Plan & Goals
+
Resources
Performance Management System
Performance
Thus the domain of talent management focuses not only on development of individual’s
intrinsic capacities, but also on culture building and change management to provide the other
elements listed above for manifestation of talent into performance. The service and consulting areas of talent management that thus emerge are: • Talent appreciation • Potential enhancement •
Acquisition of talent • Knowledge management Grow Talent offers services in all the above areas. Grow Talent’s offerings are based on the models discussed above and follow a unique methodology. Talent appreciation (TAPTM)
TAPTMservices from Grow Talent are focused on assessing the way individuals learn, think,
relate to others, and act. Tap is used to evaluate the capacities, competencies and values of
individuals for assessment of potential for career development and succession planning.
29
This is intricately linked to helping organizations map their capacity and competency
requirements and then assessing talent to draw up individual development plans. The talent
profiling thus done for organizations helps them identify critical competencies to be
developed and capacities to be enhanced in order to meet future business requirements and
achieve plans. Potential enhancement (PEPTM)
The focus of PEPTMis to create learning experiences and solutions for individuals that will
help convert their talent into competence. It also involves designing learning events and
processes that enhance the potential of individuals. Two intrinsic components of Grow Talent PEPTM are: • Capacity building modules - which focus on enhancing the four capacities of individuals • Competence building modules – which focus on specific areas like consulting skills, problem solving, service quality, strategic selling, process designing, interviewing skills, etc. Acquisition of talent (ACTTM) Grow Talent’s approach to helping organizations acquire talent is based on the following: • Helping organizations define roles for specific leadership positions based on 'preferred futures' and strategy • Identifying the competencies required for each of these jobs
•
Determining the levels of fundamental capacities of learning, thinking, relating and acting needed to acquire these competencies • Defining the values which are needed to display the desired behaviors • Identifying individuals who would fit into these positions • Enable organizations and individuals to establish mutually acceptable contracts for employment and lay the foundation of win-win relationships
Knowledge Management As said earlier, the domain of talent management includes culture-building and change
management. Knowledge management services from Grow Talent are aimed at leveraging
knowledge for performance by creating an environment for sharing by building trust. The
focus of knowledge management is to connect people and technology to capture and harness
the tacit knowledge of the organization. By making trust the bandwidth of communication,
knowledge management enhances sharing and thereby creates an appropriate environment for
talent to translate into performance.
30
With its comprehensive spectrum of services for talent management and unique
methodology, Grow Talent is strongly positioned to help organizations gain a competitive
and sustained talent advantage.
31
LITRATURE REVIEW
32
LITERATURE REVIEW:
A detailed survey of the concerned literature has been carried out based on various journals, reviews concerned magazines and internet and presented below:
Any Organization needs to have a vision and a well defined strategy on hiring for the future.
We should have the right talent to attract and retain the best available talent for which a
number of measures for talent management are required. [KARTHIKEYAN,2007]. Emphasis
has been paid on initiatives that can be put in place to help organization to retain and nurture
the talent [PANDIT, 2007]. The fundamental aspects about the definitions of human
recourses have been discussed and planning of new models has been discussed. The need to
disband the conventional school of thoughts about organizational behavior has been
advocated and a new approach has been suggested for HR [ANANDARAM, 2007.] The Strategic Development of Talent by William J. Rothwell
"Rothwell ignites the imagination, expands the possibilities, and offers practical strategies
any organisation can use to effectively develop, retain and utilise talent for the benefit of an
organisation and enter the fluid, flexible future. Managers at all levels will cheer the sanity
Rothwell suggests." The Talent Management Handbook: Creating Organizational Excellence by Identifying, Developing, and Promoting Your Best People by Lance A. Berger
"This is an outstanding reference work that succinctly explains a simple and practical
approach to the identification, assessment and management of talent in the current, dynamic
operating business environment. The book plainly gives advice on how to avoid high staff
turnover, poor morale, and poor performance."
NEWSLETTER
Sriiddar S Preetham (July 2007), Managing talent, HRD Newsletter, vol23 issue -4
Focusing on the challenge of attracting and retaining talent faced by Indian HR mangers, the
article outlines initiative that can be put in place to help organization retain nurture and retain
the talent…………
33
PROBLEM IDENTIFICATION
IT TAKES Talent to spot Talent! A tone deaf will never be able to appreciate the music of maestros. Only a seasoned jeweler would know that all that glitters is not real! And, only those who can recognize the worth of a diamond can value it, for others it's just a stone! Talent is doing easily what others find difficult.
In an organization, there is nothing more crucial than fitting the right employee in the right position. Or else you would be trying to fit a square peg in a round hole. When people do jobs that just don't suit their liking, inclination or temperament, the results, or rather the lack of them will be disastrously obvious. Low productivity, dissatisfaction, low morale, absenteeism and other negative behavior will become typical till the employee is shown the door. Or perhaps, there is another option - Talent Management “A conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational need”
Organization need to have a vision and a well defined strategy on hiring for the future. India has become the outsourcing capital of the world and this has created its own set of HR challenges India’s biggest problem is that qualified graduates are becoming scarce. Despite the large population, the supply of engineers cannot keep up with the sharply increased demand. So, do we have the right talent within to attract and retain the best available talent
34
RESEARCH METHODOLOGY
35
RESEARCH METHODOLOGY
OBJECTIVES
To identify various upcoming challenges of talent management
To establish upcoming trends in talent management.
To identify the ways to retain the best talent.
NEED OF THE STUDY
The supply side discussed puts pressure on companies to attract the best talent and ensure that employees join the company and choose to stay in the organization rather than look for opportunities elsewhere. Present study is supposed to find out the existing Indian talent scenario so as to analyze its emerging challenges and trends.
PRIMARY DATA
For the purpose of collection of primary data two web administered questionnaire were prepared. One questionnaire was made for HR professionals or the people involve with the talent management in the organization and other one was for the employees of the organizations.
QUESTIONNAIRE: HR Professional The researcher focused on a comprehensive set of workplace practices that influence employee motivation, commitment and willingness and desire to achieve at work. The researcher identified these practices and a deep understanding of typical organizational programs to ensure that the questionnaire covered the broadest spectrum of tangible and intangible aspects of the work environment. As a result, the questionnaire included items about the full range of rewards practices, leadership and management effectiveness, communication, culture and attributes related to these tangible and intangible aspects. Respondents came from a range of industries, including telecommunications and technology, financial services, education, health care, energy, retail, transportation, consumer products and manufacturing. Sample Size: 25
36
QUESTIONNAIRE: EMPLOYEES The prime focus of this questionnaire was to compare with the responses obtained by above questionnaire. The talent management initiative is taken by the HR professionals but the implication of this initiative is on the employees. By this questionnaire, the researcher tried to find out the effectiveness of such talent management initiative as well as the satisfaction level of the employees. Sample Size: 30
SECONDARY DATA Journals and Research Paper Newsletters HR websites
STATISTICAL TOOL: Bar graphs Averages
SAMPLING TECHNIQUES: Judgmental Sampling
37
ANALYSIS AND INTERPRETATION
38
ANALYSIS
RP TS FEFinance Deptt 6.2 6 7Marketing Deptt 6 5 6.2Production Deptt 7 5.3 5.6Quality Assured Deptt 5 6 4H.R. Deptt 7.4 6.4 7.2
Finan
ce Dep
tt
Marketi
ng Dep
tt
Producti
on Deptt
Quality
Assured
Deptt
H.R. Dptt
0
1
2
3
4
5
6
7
8
RPTSFE
As I have prepared my questionnaire on the basis of three parameter namely
a) Relation with peopleb) Thinking stylec) Feeling and Emotion
And on the basis of that I have taken a survey on employees of different department namely
a) Finance departmentb) Marketing departmentc) Production departmentd) Quality assured departmente) Human Resources department
39
INTERPRETATION
Now I have plot the graph on the basis of means of parameter score for each Department as it can be seen in the above table. Any score above 3 can be considered “Good” while a score
below 3 can be considered “Poor”. I found that the employees talent managed well in all departments in JK TYRE.
40
CONCLUTION
41
CONCLUTION
As organizations continue to pursue high performance and improved results through TM practices, they are taking a holistic approach to talent management—from attracting and selecting wisely, to retaining and developing leaders, to placing employees in positions of greatest impact. The mandate is clear: for organizations to succeed in today’s rapidly changing and increasingly competitive marketplace, intense focus must be applied to aligning human capital with corporate strategy and objectives. It starts with recruiting and retaining talented people and continues by sustaining the knowledge and competencies across the entire workforce. With rapidly changing skill sets and job requirements, this becomes an increasingly difficult challenge for organizations. Meeting this organizational supply and demand requires the right “Talent DNA” and supporting technology solutions. By implementing an effective talent management strategy, including integrated data, processes, and analytics, organizations can help ensure that the right people are in the right place at the right time, as well as organizational readiness for the future.
42
SUGGESTION
43
SUGGESTION
Organizations must have meaningful descriptions of the capabilities (skills, behaviours, abilities and knowledge) required throughout the organization.
Organizations must be able to relate those skills and capabilities to a role or a centre of demand, such as a job position, project or leadership role.
Talent management processes must create a comprehensive profile of their talent. They must be able to track meaningful talent related information about all of their people - employees, contractors, or candidates.
The working culture of the organization should be improved and maintained to retain talent in long run. More certified training should be given to the employee to boost their effectiveness and efficiency. It should be used as a tool of motivation.
The organization should identify the crucial talent initiative to attractant retain the employee. They should know which talent management elements can have the greatest impact on the business and therefore provide a better basis for prioritization and implementation.
To create a sophisticated talent management environment, organizations must:• Define a clear vision for talent management• Develop a roadmap for technology and process integration• Integrate and optimize processes• Apply robust technology to enable processes• Prepare the workforce for changes associated with the new environment
44
Appendix -1
45
Bibliography
Books
1. Talent Management: Overview: Talent Management Series Part I," Nancy R. Lockwood, SPHR, GPHR, Society for Human Resource Management, July 2005.
2. Talent Management: Employee Engagement: Talent Management Series Part III," Nancy R. Lockwood, SPHR, GPHR, Society for Human Resource Management, July 2005.
3. Talent Management: Leadership Development: Talent Management Series Part II," Nancy R. Lockwood, SPHR, GPHR, Society for Human Resource Management, July 2005.
4. "Strategies for Recruiting Workers Over Age 50," Society for Human Resource Management, Cathy Fyock, December 2005. Taking Action against the Quiet Crisis in Recruitment and Retention," AFT. Public Employees, AFL-CIO. 2005
Search Engine
Websites
http://books.google.co.in/books?id=SBNbFCBtcFsC&pg=PA168&dq=Talent management=#PPA167,M1
http://books.google.co.in/books?id=J2eRTQXWQlQC&pg=PA1&dq=talent management=#PPA13,M1
http://books.google.co.in/books?id=6OCD-tSU1nwC&pg=PA1&dq=talent management=#PPA11,M1
http://books.google.co.in/books?id=keiVwGxm3i0C&pg=PA363&dq=talent management=#PPA371,M1
http://books.google.co.in/books?id=qUbqdAIOA9YC&printsec=frontcover&dq=talent management #ppr9,m1
http://www.google.co.in/search?q=talent management+filetype:pdf&hl=en&lr=&start=10&sa=N
http://www.answers.com/topic/employee-Talent management-systems http://www.google.co.in/search?q=talent management
filetype:pdf&hl=en&lr=&start=20&sa=N http://wilderdom.com/OEcourses/PROFLIT/Class6Qualitative1.htm http://www.socialresearchmethods.net/kb/qualmeth.php http://en.wikipedia.org/wiki/Quantitative_research
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APPENDIX-II
47
OPQ32 Normative – Indian Managerial & Professional Norm Group ProfileRP [a] RELATIONSHIP WITH PEOPLE
RP1
Rarely pressures others to change their
views ,dislikes ,selling, less comfortable using
negotiation
Persuasive Enjoys selling, comfortable using
negotiation, likes to change other peoples
views
1 2 3 4 5 6 7 8 9 10
RP2
Happy to let others take charge, dislikes telling
people what to do, unlikely to want to take
the lead
Controlling Likes to be in charge, takes the lead, tells others what to do, takes control of
situations
1 2 3 4 5 6 7 8 9 10
RP3
Holds back form criticising others may
not express own views, unprepared to put
forward own opinions
Outspoken Freely expresses opinions, makes
disagreement clear, prepared to criticise
others
1 2 3 4 5 6 7 8 9 10
RP4Accepts majority
decisions, prepared to follow the consensus
Independent minded Prefers to follow own approach, prepared to
disregard majority decisions
1 2 3 4 5 6 7 8 9 10
RP5Quiet and reserved in groups, dislikes being the centre of attention
Outgoing Lively and animated in groups, talkative,
enjoys being the focus of other’s attention
1 2 3 4 5 6 7 8 9 10
RP6
Comfortable spending time away from people, values time spent alone,
seldom misses the company of others
Affiliative Enjoys other’s company , likes to be around people, likely to miss the company
of others
1 2 3 4 5 6 7 8 9 10
RP7
Makes strengths and achievements known,
talks about own personal success
Socially confident Feels comfortable when meeting people for the first time, at ease in formal social
situations
1 2 3 4 5 6 7 8 9 10
RP8
Makes strengths and achievements known,
talks about own personal success
Modest Dislike discussing own achievements, keeps
quiet about own personal success
1 2 3 4 5 6 7 8 9 10
RP9
Prepared to make decisions without
consultation, prefers to make decisions alone
Democratic Consults widely if possible, involves others in decision
making, less likely to make decisions in
isolation
1 2 3 4 5 6 7 8 9 10
RP10
Selective with sympathy and support, remains detached from others
personal problems
Caring Sympathetic and considerable towards others, helpful and
supportive, gets involved in others
problems
1 2 3 4 5 6 7 8 9 10
OPQ32 Normative – Indian Managerial & Professional Norm Group Profile
TS [b] THINKING STYLES
48
TS1
Prefers dealing with opinions and feelings rather than facts and figures, unlikely to advocate use of statistics
Data RationalInfluenced by facts and figures and hard data, tends to disregard feelings and intuition
1 2 3 4 5 6 7 8 9 10
TS2
Does not focus on potential limitations dislikes critically analysing information, rarely looks for errors or mistakes
EvaluativeCritically evaluates information, looks for potential limitations and flaws, focuses upon errors
1 2 3 4 5 6 7 8 9 10
TS3Does not question the reasons for people’s behaviour, tends, not to analyse people
Behavioural
Tries to understand other’s motives and behaviour, enjoys observing and analysing people
1 2 3 4 5 6 7 8 9 10
TS4
Favours changes to work methods, prefers new approaches and solutions, less conventional
Conventional Prefers well established methods and solutions, favours a more conventional approach
1 2 3 4 5 6 7 8 9 10
TS5
Prefers to deal with practical rather than theoretical issues, dislikes dealing with abstract concept
Conceptual Thinks of issues in terms of theories, models and trends, enjoys discussing abstract concepts
1 2 3 4 5 6 7 8 9 10
TS6More likely to build on than generate ideas, less inclined to be creative and inventive
Innovative
Generates many new ideas, enjoys the creative process, comes up with original solutions
1 2 3 4 5 6 7 8 9 10
TS7Prefers routine, is prepared to do repetitive work, does not seek variety
Variety Seeking Seeks novelty and variety, tries out new things, can be easily bored by routine and repetitive work
1 2 3 4 5 6 7 8 9 10
TS8
Behaves consistently across situations, unlikely to behave differently with different people
Adapted Changes behaviour to suit the situation, adapts approach to suit different people
1 2 3 4 5 6 7 8 9 10
TS9
More likely to focus upon immediate than long-term issues, less likely to create a strategic perspective
Forward Thinking
Takes a long term view, sets goals for the future, more likely to take a strategic perspective
1 2 3 4 5 6 7 8 9 10
TS10
Unlikely to become preoccupied with detail, less organised and systematic, dislikes tasks involving detail
Detail Conscious Focuses on detail, tends to be methodical, organised and systematic, may become preoccupied with detail
1 2 3 4 5 6 7 8 9 10
TS11Sees deadline as flexible, prepared to leave some tasks unfinished
Focuses on getting things done, persists until the job is done, takes deadlines very seriously
1 2 3 4 5 6 7 8 9 10
TS12
Not restricted by rules and procedures prepared to break rules, tends to dislike bureaucracy
Follows rules and regulations, prefers to have clear guidelines, reluctant to deviate from protocol
1 2 3 4 5 6 7 8 9 10
OPQ32 Normative – Indian Managerial & Professional Norm Group Profile
[c] FEELINGS AND EMOTIONS
FE1 Tends to feel tense, finds it Relaxed Finds it easy to relax and
49
difficult to relax, can find it hard to unwind after work
switch off, rarely feels tense, generally calm and untroubled
1 2 3 4 5 6 7 8 9 10
FE2 Feels calm before important occasions, less affected by key events, free from worry
Worrying Feels nervous before important, occasions, worries that things will fail or go wrong
1 2 3 4 5 6 7 8 9 10
FE3 Sensitive, easily hurt by criticism, upset by unfair comments or insults
Tough Minded Not easily offended, can ignore insults, may be insensitive to personal criticism
1 2 3 4 5 6 7 8 9 10
FE4 Concerned about the future, expects things to go wrong, focuses on negative aspects of a situation
Optimistic Expects things to turn out well, focuses on the positive aspects of a situation, optimistic in outlook
1 2 3 4 5 6 7 8 9 10
FE5 Wary of other’s intentions, finds it difficult to trust others, unlikely to be fooled by people
Trusting Trusts people, sees others as reliable and honest, believes what others say
1 2 3 4 5 6 7 8 9 10
FE6 Openly expresses feelings, finds it difficult to conceal feelings, displays emotions clearly
Emotionally Controlled Conceals feelings from others, rarely displays emotion, difficult for others to read
1 2 3 4 5 6 7 8 9 10
FE7 Likes to take things at a steady pace, dislikes excessive work demands
Vigorous Thrives on activity, likes to be busy, enjoys having a lot to do
1 2 3 4 5 6 7 8 9 10
FE8 Dislikes competing with others, feels that taking part is more important that winning
Competitive Has a need to win, evaluates own performance in terms of being better than others, dislikes losing
1 2 3 4 5 6 7 8 9 10
FE9 Sees career progression as less important, looks for achievable rather than higher ambitious targets
Achieving Ambitious and career- centred, sets and strives towards demanding goals and targets for self
1 2 3 4 5 6 7 8 9 10
FE10 Tends to be cautious when making decisions, likes to take time to reach conclusions
Decisive Makes fast decisions, reaches conclusions quickly, less cautious in decision-making
1 2 3 4 5 6 7 8 9 10
SDE Has been more self-critical in responses, is less concerned to make good impression
Has been less self-critical in responses, may be unrealistic or concerned to make a good impression
50
51