2. Course objective
1. This course focuses on the attraction, acquisition, and
retention of talent in organizations
2. A clear understanding of talent management and its linkage
with organizational strategy and other HR practices.
3. To provide the understanding of acquiring and retaining the
talent in the organization.
4. To provide them the process of identifying and developing
the potential talent to fulfil the present and future need of
the organization.
5. In addition, the course will cover the negotiation problems
that managers may face in decision-making processes; for
example, the hiring negotiation, the promotion negotiation,
the firing decision, and HR-relevant cross-cultural
negotiation issues.
3. Unit 1 (6 hours)
Introduction to Talent Management: Concept, Meaning
& Objectives, Role of Talent Management in building
Sustainable Competitive Advantage to a firm;
Key Processes of Talent Management: Recruitment,
Selection, Human Resource Planning, Retention,
Talent vs. Knowledge, Consequences of Failure in
Managing Talent,
Identifying and Assessing High-Potential Talent:
Current Organizational Practices . Case Studies
4. What is talent management?
Talent management has three components:
The full scope of HR processes: Talent management is about a
set of HR processes that integrate with each other. This means that
talent management activities are larger than the sum of the
individual parts. This also means that a talent management strategy
is required to capitalize on its full potential.
Attract, develop, motivate and retain: This is not a
comprehensive list. Talent management touches on all key HR
areas, from hiring to employee on boarding and from performance
management to retention.
High-performing employees: The purpose of talent management
is to increase performance. It aims to motivate, engage, and retain
employees to make them perform better. This is why the
importance of talent management is so significant.
5. When it’s done right, companies can build a sustainable
competitive advantage and outperform their competition
through an integrated system of talent management
practices that are hard to copy and/or imitate.
6. Talent may be defined as the inherent ability of an
individual to do a particular task in a particular way.
Talent management incorporates attracting, retaining
and developing the talent pool available to an
organization in association with the other functions of
management. Competence, capability and talents are
human assets of organizations.
Talent management is a systematic process of identifying,
assessing, developing and retaining people with critical
knowledge, skills and competencies.
7. Talent = Competence × Commitment × Contribution
C = competence :- able to do the work means the
knowledge, skills, and values that individuals require
for today’s and tomorrow’s jobs.
C = commitment :- means the level of employee
engagement is when employees work on time, work
hard and do what is expected of them.
C = contribution :- finding meaning & purpose in work.
8. Why is talent management important?
Businesses that take the time to develop their employees
and keep them engaged tend to be innovative and profitable.
Conversely, those that are unable to source or retain talent
generally have poor customer satisfaction and limited
growth potential.
What are some key components of talent management?
Building the kind of talent strategy that drives an
organization forward generally requires employers to:
Align talent goals with larger business objectives
Fulfill employee expectations and deliver on hiring
promises
Rely on data to make better workforce decisions
9. Benefits of talent management
Employers who create a culture that empowers employees
to be their best may be able to:
Recruit in-demand talent
Businesses become employers of choice and attract talent
organically by making their brand a central component of
their talent strategy.
Minimize disruptions
Unexpected departures cause gaps in coverage, but with a
talent pipeline, it’s possible to fill open positions quickly
and keep operations running smoothy.
10. Improve productivity
Continuous strengths-based coaching helps employees
develop skills and reach their full potential, thereby
increasing efficiency.
Reduce costs
Retaining valued team members and keeping them
engaged is usually more cost effective than sourcing and
training new hires.
Innovate
Talented teams are more likely to develop new methods
of problem solving and make the most of advancements
in technology.
Benefits of TM Contd.
11. Benefits of Talent Management
1. It helps the organization fulfill its vision with the help
of efficient and promising talented people.
2. Talent management also assists the organization to
build a talent pool comprising a list of talented
people to meet future exigencies.
3. It makes the organization more competitive and
progressive.
4. It paves the way for future leadership. It helps
automate the core processes and helps capture data
for making better decisions.
5. Automates repetitive tasks like creating salaries
thereby releasing time and resources for making
strategies and more critical decisions.
12. Benefit for Organization
1. Enhances individual and group productivity and capacity to
compete effectively in a complex and dynamic environment
to achieve sustainable growth.
2. Assists in hiring quality workforce.
3. Establishes better match between jobs and skills.
4. Helps retain top talent thereby reducing the cost of hiring
new recruits.
5. Helps in understanding the employees better.
6. Keeps employees engaged constructively.
7. Effective use of available man-hours.
8. Helps develop leaders for tomorrow within the
Organization.
9. Helps in evaluating employee’s readiness to take up new
roles.
13. Benefit for Employees
1. Promotes long-term association with the
organization.
2. Persistent and higher productivity of
employees.
3. Keeps the employees motivated which helps
in career development.
4. Helps the employees get job satisfaction
from their work.
14. What is the talent management process?
The talent management process consists of finding the right
people and helping them discover and apply their strengths so
they can work and lead more effectively. Employers who do it
well generally follow these steps:
1. Recruit
Source candidates from outside or within the organization
using the most appropriate method, i.e., employee referrals,
social networks, job boards, etc.
2. Hire
Use analysis tools, prescreening questionnaires, skills tests
and interviews to narrow the list of candidates and make an
offer.
15. What is the talent management process?(contd.)
3. Engage: Keep teams connected and focused with
engagement tools that help identify potential retention risks
and retain top performers.
4. Perform: Monitor employee performance and collect data to
make more informed workforce decisions.
5. Recognize: Manage compensation equitably and reward top
performers.
6. Plan: Create succession plans that allow employees to
advance their careers when openings become available.
7. Develop: Make learning and development resources
accessible and relevant to employee expectations and needs
so they can do their jobs more effectively.
17. TALENT MANAGEMENT STRATEGY :
Executives and HR management have always been
focused on basic talent management—acquiring, hiring
and retaining talented employees. But, to drive optimal
levels of success, business leaders need engaged, high-
performing employees.
The key to inciting a workforce to greatness is to align
your talent management with company strategy, define
consistent leadership criteria across all functional areas,
and identify specific competencies (analytical, technical,
education, experience) to cultivate for continuing
growth.
18. The talent management Strategy can be
divided in to four main functions :
1. Acquire : It includes to find out the sources,
communicating to source, selection & its
placement.
2. Develop : it includes establishment of
performance standard to measure and manage
employee’s Performance, learning &
development programmed for all
organizational level.
19. 3. Align: Here organizations try to tie the
compensation plan directly to performance
management so that compensation, incentives, and
benefits align with business goals and business
execution. In this organization try to align
individual goals with the goals of unit.
4. Assess : It includes to find out the gap between
desire level of talent pool and actual level of talent
pool.
20. Implement a Talent Management Strategy :
Talent Management is a natural evolution of
HR.
It is a series of business processes -- not a
“product” or “solution” you can buy.
Talent Management is a “forward-looking”
function.
Not only should talent management improve
organization’s flexibility and performance, it
should give the information and tools to plan for
growth, change, acquisitions, and critical new
product and service initiatives.
21. Importance of talent management :
Developing Leaders through Talent Management.
Diversity in the Workplace.
Growth and Innovation Agenda.
Talent Management and Skills Development.
Productivity and Management Practices.
Limited flexibility of organizations to train from scratch,
which encourages a search in the labour market for
experienced staff.
Management Practices Tied to Several Measures of
Corporate Success.
Improving employee engagement.
Organizational excellence through talent management.
22. Challenges of TM:
Attracting and retaining enough employees at
all levels to meet the needs of organisations.
Creating a value proposition that appeals to
multiple generations. Most companies are
struggling to create an employee experience that
appeals to individuals with diverse needs,
preferences and assumptions.
Developing a robust leadership pipeline.
Creating a workplace that is open to Boomers
in their “second careers.
Gender diversity also represents a talent barrier.
23. Keys for Effective Talent Management :
Every employer needs to understand the importance of talent
management and should develop a strategy to attract and retain the
talent that the organization needs to succeed.
Organizations can gain a competitive advantage by actively
engaging the core components of talent management– performance,
compensation, and learning management; succession planning; and
active collaboration with your social networking resources.
you should measure the success of your talent management strategy
with metrics that are strategically relevant to your business.
Organizations should use talent management technologies to view
and set talent management roadmaps, but not rely on them to make
talent management decisions.
Tools that automate and integrate the administrative aspects of the
talent management help to streamline processes and engage
Corporate-Level decision-makers.
24. Role of Talent management in building SCA
(sustainable competitive advantage)
Talent management is of strategic importance & by
developing the talent, organizations may develop strong
leadership teams which will help to take competitive
advantage and that will enable the organization to achieve
its goals & organizational success.
the new advantage lay with acquiring, developing and
retaining talented employees faster and more efficiently
than the competitors.
Is it any wonder that the next brave frontier for
competitive advantage has shifted to Talent
Management with the new millennium?
TM for SCA
25. Human capital is one of the most valuable Assets of the
organization. Now a Day it may possible that all of the
competing organization have the same kind of resources
but the one thing which differentiate the one organization
from others is its talent.
Talent represents the best people for the job in an
organization and who would contribute to most to the
achievement of its strategic goals and helps to earn
Competitive advantage.
Talent Management is a set of integrated organizational
HR processes designed to attract, develop, motivate, and
retain productive, engaged employees.
TM for SCA
26. Organizations know that they must have the best talent in
order to succeed in the hypercompetitive and increasingly
complex global economy.
Companies that can identify and match an applicant’s
inherent talents with their jobs and culture will enjoy a
competitive advantage by building a much more solid
foundation for tomorrow.
TM for SCA
27. Talent is a composite state made up of various
elements.
Talent is a set of unique abilities possessed by
individuals.
An Individual is said to be talented when he/she
possesses or acquires the following elements.
Skills, knowledge, intelligence, and experience
Ability to learn and grow
Judgment, attitude, character
Perseverance and self-motivation
28. Skill and Knowledge
Skill and knowledge both are the abilities of individuals.
Knowledge is information-based and skill is the ability to
perform a particular task in the required time frame.
Knowledge: It is the theoretical and practical understanding of any
subject. It provides the foundation to gain skills on any subject
or action. For example, an employee having good knowledge of
English language and grammar may not be able to speak in
good English, because communicating in English is a distinct
skill.
Skill: One can develop skills through experience, training, and
continuous effort. For example, an employee can develop
communication skills while continuously practicing and
communicating with colleagues or subordinates
29. TALENT KNOWLEDGE
A marked natural ability or skill. The fact of knowing about something;
general understanding or familiarity with
a subject, place, situation etc.
IS an innate understanding of the intricacies of
their field, and can produce something
impressive, even if they lack an ability at times to
explain it.
Knowledge, conversely, is
an understanding that is acquired through
study and experience.
talents break the rules, create, initiate, invent,
direct, and send—talents take initiative, they are
proactive.
Knowledge workers, in general, do not.
Knowledge workers take orders. They are
studious and obedient people.
Although talents, skills, and knowledge are each
important for building a strength, talent is always
the most important.
The reason is that your talents are innate
and cannot be acquired, unlike skills and
knowledge.
Knowledge and Talent both depend upon a very
important factor called Hard work.
If you really have high goals and if you really want
to achieve something than you must need to
work hard as Hard work beats talent when talent
doesn’t work hard.
Knowledge comes from hard work and
only talent can’t take you to the ladder of
success
So work hard , become knowledgeable
,be talented.
