TALENT MANAGEMENT

Ritika AgarwalSwetha G.k.Ankit SahneyJaydeep GhoshRakesh PatawariSiddharth Kumar

DEFINITION

• Talent management implies recognising a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort.

Benefits

• The Organisation benefits from: Increased productivity and capability; a better linkage between individuals' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people's jobs and skills.

• Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction.

INTRODUCTION

• Traditional method of talent management is usually understood to mean systematic efforts to recruit, develop and retain highly productive and promotable people.

• But the needs of business really go beyond that. There is a need to think beyond traditional talent management to Next Generation Talent Management (NGTM).

The NGTM…….• The NGTM goes beyond considering

identifying ,developing and retaining productive and promotable people.

• It includes…..• Considering how the work is performed (which will

change performance and promotability requirements)• Inventorying in-house experts(known as high

professionals).• Considering ethics and values as well as performance,

preparing for the transfer of specialized knowledge, and preparing for the transfer of social networks.

• The NGTM is often integrated with career planning programs.

A Model of the Next Generation Talent Management

Step 1 : Get Commitment.

Clarify Roles and Build

Accountabilities

Step2: clarify What Work People Do , What People

Successfully Do the Work and Who Possess special Knowledge and

Special Social Relationships

Step 3: Evaluate Present

Performance

Step 4 :Recruit and Select Appropriate People from Inside

and Outside the Organization

Step 5 :Formulate Future Talent

Requirements and align with Strategic

Objectives

Step 6: Assess Individual

Potential for Promotions and Individual Values

and Ethics

Step 7: Inventory Existing Talent

Step 8: Plan for individual

Development

Step 9: Systematically Retain People and Transfer

Knowledge and Social

Relationships

Step 10 : Evaluate Results

• Step 1: Get commitment, clarify Roles and Goals and Build Accountabilities.

• Have full commitment of top ,middle ,and low level managers.

• Roles of each and every manager , groups of stakeholders, has a role to play which has to be clarified and communicated .

• TM efforts may , of course have many goals . These must be clarified and prioritized. Managers must agree on them so that the TM does not try to be all things to all people.

TM Goals are …….• Preparing sufficiently well qualified replacements

before key leaders retire.• Preparing sufficient numbers of well qualified

people to support business expansion.• Recruiting high potentials from outside the

organization.• Developing high potentials inside the

organization.• Role- modeling TM efforts by developing self and

others.

STEP 10: EVALUATE RESULTS

• Talent Management can be evaluated by metrics established from the initial goals identified for the program.

• It can evaluate by using a Rating Chart as a instrument to check how well an organization perform.

Rating Your Organization

IMPLEMENTATION OF TALENT MANAGENENT

• There are 3 basic ways to start a Talent Management Program:-

1)Focus On Replacement Planning. 2)Focus On Top-Down Talent Management. 3)Focus On a Trouble Spot in Organization.

Conclusion

• Organizational leaders should specify the talent that is required for the organization.

• Organization should provide an environment of creativity and innovation.

• Never attempt to force creativity.• Involve the citizens of an organization in

solutions to problem.• Potential solutions may come if dealt in a

creative manner.

BIBLOGRAPHY

• HRM REVIEW (The Icfai University Press)• GOOGLE