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