Talent Management Module-1

1. Talent Management
Module-1
Asst. Prof. Ashita Savsani

2. Module 1 Content

6. Role of Talent Management in building
sustainable competitive advantage to a firm
• Each organization works to achieve organizational objectives, it
requires thorough understanding of resources required for achieving
the same.
• Resources: Financial & Non financial
• Technically divided into : non contingent capabilities & differentiating
capabilities
• Non contingent capabilities are basics that enable an organization to compete
and exist in marketplace.
• Differentiating capabilities are those that differentiate an organization from
that of the other and offer competitive advantage.

7. Conti…

8. Conti…

10. HR Planning process involves following steps:
• Current HR supply
• Future HR demand
• Demand Forecast
• HR sourcing strategy & implementation

11. Recruitment

14. Selection

15. Employee selection process
• Announcing the job
• Reviewing Applications
• Initial Screening
• In-person interview
• Final Selection
• Testing

17. Need & Importance of Employee Retention
• Hiring is not an easy process
• An organization invests time and money in grooming an individual an make
him ready to work and understand the corporate culture
• When an individual resigns from his present organization, it is more likely
that he would join the competitors
• The employees working for longer period of time are more familiar with
the company’s policies, guidelines and thus they adjust better
• Every individual needs time to adjust with others
• It has been observed that individuals sticking to an organization for a
longer span are more loyal towards the management and the organization
• It is essential for the organization to retain the valuable employees showing
potential

18. Strategies to retain employees
• The responsibilities must be delegated according to the individual’s
specialization and interests.
• Constant disputes among employees encourage them to go for a change
• The human resource department must ensure that it is hiring the right
candidate
• Employee recognition is one of the most important factors which go a long
way in retaining employees
• Performance appraisals are also important for an employee to stay
motivated and avoid looking for a change
• The salary of the employees must be discussed at the time of interview
• The company’s rules and regulations should be made to benefit the
employees

22. Source of Talent
• Referrals
• Career sites and job boards
• Social networks
• Attend events and constantly network
• Become an employer of choice
• Consistent communication
• Leverage your current employees
• Expand your candidate pool
• Headhunters and recruiters

23. Consequences of Failure in Managing Talent
• Causes for Talent Attrition
• Long working hours
• Unsupportive management
• Lack of coordination and
communication
• Higher personal aspirations
• Unsatisfactory monetary and non-
monetary rewards
• Consequences of Talent Attrition
• Declined Productivity
• Increased Turnover
• Poor Industrial Relations
• Inability to accept change
• Remedial Measures for Talent
Management
• Creating opportunities for growth
• Relate the recruitment policy with
organizational needs
• Employee counselling