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Karthika Nair (84)Karishma Sharma (100)
Bhavana Bhat (63)Bhavna Sajnani (117)Sneha Khushoo (103)
Sneha Shet (106)
INDEX
SERIAL NO. TOPICS PAGE NO.
1. DEFINING TALENT MAGEMENT
2
2. NEED FOR TALENT MANAGEMENT
9
3. STRATEGIES FOR TALENT MANAGEMENT
12
4. NEED FOR SURVEYS 18
5. TALENT MANAGEMENT ACTIVITIES
22
6. ANALYSIS OF COLLECTED DATA
24
7. ACKNOWLEGDEMENTS 29
1
DEFINING TALENT MANAGEMENT
WHAT IS TALENT?
Talent in general terms refers to the capabilities, skills or the art, a person possess in a particular
field. It also refers to those people who have high potential, scarce knowledge and skill or
who can successfully bring about transformation and change in the organization. Such
individuals are usually sought after in the market and their contributions to the business add direct value to
its strategic or competitive positioning
WHAT IS TALENT MANGEMENT?
Talent management can be defined as attracting and integrating highly skilled workers and
developing and retaining existing workers.
It is knowing:
where talent is now and in the future
what skills and experience that talent will need
what talent you currently have, where it is and how good it is
how you can best develop that talent to meet future needs.
Talent management is essentially making sure you have the right person in the right place at the right time
Brief History:
The origins of Talent Management can be traced to the 1990s with the realization of the
immense value of the Human Asset for organizational success surpassing every other
resource. Today it is a very widely used terminology with Google returning about 26,300,000
results. Many companies commit the mistake of putting a herculean effort in attracting the
best employees but fritter away this valuable resource by not making any effort to develop
or retain them. Companies have initially thought of talent management as a means to solve
high employee turnover. In course of time it has become part and parcel of the corporate
strategy itself with a key responsibility placed on the line managers. One cannot wish away
the fact that these managers have to play a pivotal role in nurturing the talents and skills
2
of those reporting to them. In other words, it is a case of joint trusteeship between the line and
staff functions. However, in Indian Companies, talent management is of fairly recent origin
Scope of Talent Management:
In the recent days, the HR Department of any organisation is vested with the responsibility of
managing the Talent in addition to its conventional function of providing good human capital
to an organization. In order to perform this function, they use the following methods viz.
1. Identifying the Talent which is required
2. Right Selection of the Talent
3. Implementing competitive compensation plans
4. Training and continual development of Competencies
5. Practicing state-of-the–art performance appraisal systems
6. Aligning the acquired Talent
7. Developing and nurturing the Talent, and
8. Retaining the Talent
The scope of Talent Management is quite wide and adopts an integrative approach to the
functions mentioned above. The purpose is to have a synergistic effect between the various
activities so as to ensure a maxi-maxi effect.
Consequences of failure in Managing Talent:
Organizations have to face the following problems, if they fail to manage talent.
Loss of key leaders - sometimes not finding even an approximate replacement.
Repeated turnover of key persons from an organization will affect the very Work
culture within the organization.
Poor performance affecting targets and productivity.
Financial crisis
3
Tools for Managing Talent:
In this process, the HR Manager has to execute 2 types of functions1. To find leaders who
will take the organization from where it is today to the next step forward – In other words, to
commanding heights of excellence.2.To put in place the existing staff in such activities
which helps in retaining and developing them. Keeping in view the budgetary constraints and
the organization size where he had to manage, few of the following tools can be used
in retaining talent.
1. Timely performance appraisals with suitable rewards and recognitions.
2. Creating an environment for staff to pursue higher education.
3. Mentoring of staff in some special and important cases in terms of attitudes,
outlook, mindset etc.
4.Providing On –the- job training for certain categories of employees, organize
development programs for executives in-house or sponsor and encourage staff to
attend workshops and seminars.
5. Implement job rotation and job enrichment wherever possible, so that staff can
become experts in multi tasking and assume higher responsibilities.
Finally to conclude the future of organizations depends on how the whole organization and
not just HR anticipates and reacts to changes in this era of talent shortages. They have a long
way to go to lead organizations implement far reaching changes and bringing about
transformation among the members of the organization. Talent Management is a continuous
process.
Talent Management in an Organisation, it refers to those special steps an organization adopts
to recruit, develop and retain its pool of top talent. The steps adopted should normally be
creative and should not project bureaucracy. Talent Management also denotes a deliberate
4
approach taken up by an organization to attract, develop and retain people with the aptitude
and abilities to meet not only the current requirements but also future organizational needs.
In today’s talent-hungry market scenario, one of the greatest challenges that organizations are
facing is to successfully attract, assess, train and retain talented employees. Talent
Management encompasses in itself the entire process of Planning, Recruiting,
Developing, Managing, and Compensating employees throughout
the organization. Organizations have realized the need for talent management and are now
focusing to develop and retain the existing talent in their organization rather than trying to
acquire a new talent because the cost of identifying, developing and retaining the talent
internally is more cost effective instead of replacing the talent which is lost from external
market. Though it may appear initially that in the process of retaining talent, we are spending
more in terms of increased wages, rewards and recognition, when we practically analyze,
the cost of acquiring a new talent is higher. Apart from higher cost of acquiring the new talent
it has to additionally face the initial hiccups of this new employee getting along with
the organizational goals and strategies.
Every business unit is making sure that they can respond and withstand the challenges of
talent crisis by developing an effective talent management strategy like identifying the
key talented people in the organization, cultivating and developing the skill of their present
workforce and retaining highly talented employees by protecting them from competitors
Talent management is a useful term when it describes an organization's commitment to hire,
manage and retain talented employees. It comprises all of the work processes and systems
that are related to retaining and developing a superior workforce.
What appears to differentiate talent management from organizations that use terminology
such as human capital management or performance management, is their focus on the
manager's role, as opposed to reliance on Human Resources, for the life cycle of an employee
within an organization.
Talent management does give managers a significant role and responsibility in the
recruitment process and in the ongoing development of and retention of superior employees.
5
In some organizations, only top potential employees are included in the talent management
system. In other companies, every employee is included in the process.
It also involves the sharing of information about talented employees and their potential career
paths across the organization. This enables various departments to identify available talent
when opportunities are made or arise.
Opportunities and risks:
There are numerous advantages of introducing the program, but it’s worth noting that there
are also certain risks, as well as necessary conditions which should be ensured before the
implementation process. The organization has to be mature and determined to undergo
change, because after the program is implemented “nothing is as it used to”. It must be
understood that the organization’s culture will be transformed permanently; promotion
processes will be based on clear and transparent criteria as well as open communication.
Valuable employees will need to be identified, which brings the risk of division between the
“better” people (Talents) and “worse” employees (remaining members of the organization).
Increased promotion expectations in the selected participants, disappointment and decreased
motivation in those who failed to qualify or were eliminated during the revision process, lack
of consistency in implementation, resistance of the managerial staff – being aware of these
risks allows to effectively prepare for the process.
First of all, the chance for promotion among the people qualified as talents (HiPo) must be
realistic. AstraZeneca calculated a ratio based on the natural staff turnover as well as the
company’s growth plans. This helped to define the optimum number of participants in the
program, so that over the next 3 years every participant would be offered concrete
development opportunities through position change.
Clear and efficient communication, as well as proper preparation of the managerial staff was
vital in the implementation process.
Benefits of having an effective talent management program are:
Right Person in the right Job: Through a proper ascertainment of people skills and
strengths, people decisions gain a strategic agenda. The skill or competency mapping
allows you to take stock of skill inventories lying with the organization. This is
6
especially important both from the perspective of the organization as well as the
employee because the right person is deployed in the right position and employee
productivity is increased. Also since there is a better alignment between an
individual’s interests and his job profile the job satisfaction is increased.
Retaining the top talent: Despite changes in the global economy, attrition remains a
major concern of organizations. Retaining top talent is important to leadership and
growth in the marketplace. Organisations that fail to retain their top talent are at the
risk of losing out to competitors. The focus is now on charting employee retention
programs and strategies to recruit, develop, retain and engage quality people.
Employee growth in a career has to be taken care of, while succession planning is
being performed those who are on the radar need to be kept in loop so that they know
their performance is being rewarded.
Better Hiring: The quality of an organization is the quality of workforce it possesses.
The best way to have talent at the top is have talent at the bottom. No wonder then
talent management programs and trainings, hiring assessments have become an
integral aspect of HR processes nowadays.
Understanding Employees Better: Employee assessments give deep insights to the
management about their employees. Their development needs, career aspirations,
strengths and weaknesses, abilities, likes and dislikes. It is easier therefore to
determine what motivates whom and this helps a lot Job enrichment process.
Better professional development decisions: When an organization gets to know who
its high potential is, it becomes easier to invest in their professional development.
Since development calls for investment decisions towards learning, training and
development of the individual either for growth, succession planning, performance
management etc, an organization remains bothered where to make this investment and
talent management just make this easier for them.
Apart from this having a strong talent management culture also determines how
organization rate their organizations as work places. In addition if employees are positive
about the talent management practices of the organization, they are more likely to have
confidence in the future of their organization. The resultant is a workforce that is more
committed and engaged determined to outperform their competitors and ensure a leadership
position in the market for their organization.
7
Apart from the above there are other advantages like:
Makes recruiting process more efficient and effective by using "competency based"
recruiting instead of sorting through resumes, one at a time.
Better develops managers and leaders to reinforce culture, instil values, and Create a
sustainable "leadership pipeline".
Helps to quickly identify competency gaps so as to deliver training, e-learning, or
development programs to fill these gaps and to use these gaps to hire just the right
people.
Helps manage people in a consistent and measurable way so that everyone is aligned,
held accountable, and paid fairly.
Identifies high performers and successors to key positions throughout the organization
to make sure to have highly flexible, responsive organization.
Provides learning that is relevant, flexible, convenient, and timely.
8
NEED FOR TALENT MANAGEMENT
Organizations know that they must have the best talent in order to succeed in the
hypercompetitive and increasingly complex global economy. Along with the understanding
of the need to hire, develop, and retain talented people, organizations are aware that they
must manage talent as a critical resource to achieve the best possible results.
Few, if any, organizations today have an adequate supply of talent. Gaps exist at the top of
the organization, in the first- to midlevel leadership ranks, and at the front lines. Talent is an
increasingly scarce resource, so it must be managed to the fullest effect.
The idea of managing talent is not new. Four or five decades ago, it was viewed as a
peripheral responsibility. Now, talent management is an organizational function that is taken
far more seriously. This emphasis on talent management is inevitable given that, on average,
companies now spend over one-third of their revenues on employee wages and benefits. An
organization can create a new product and it is easily copied. Lower the prices and
competitors will follow. Go after a lucrative market and someone is there right after you,
careful to avoid making your initial mistakes. But replicating a high-quality, highly engaged
workforce is nearly impossible. The ability to effectively hire, retain, deploy, and engage
talent—at all levels—is really the only true competitive advantage an organization possesses.
Organizations have been talking about the connection between great employees and superior
organizational performance for decades.
There are several drivers fueling the emphasis on talent management:
1. There is a demonstrated relationship between better talent and better business
performance. Increasingly, organizations seek to quantify the return on their
investment in talent. The result is a body of proof that paints a compelling picture of
the impact talent has on business performance. E.g.- A study from IBM found public
companies that are more effective at talent management had higher percentages of
financial outperformers than groups of similar sized companies with less effective
talent management. More and more research is showing the strong link between
mature, integrated talent management processes and financial results. Truly successful
organizations realize that the only true sustainable competitive advantage they have is
their people, and they use strategic talent management to maintain this advantage.
9
2. Talent is a rapidly increasing source of value creation. The financial value of the
companies often depends upon the quality of talent. Less attrition means lesser
expenditure on hiring: BPO’s and start ups, for example where the attrition rate is the
highest remain occupied in searching for people every now and then. Now this incurs
financial losses to the organization. An organization not only pays an employee for
his/her work but also spends a considerable amount on their training and
development. There is transfer of skill and expertise and when the same employee
leaves after a brief stint with the organization, it costs the latter.
The problem gets even worse when such a scenario occurs at the top level. An
unoccupied executive position can cost an organization dearly. The solution - a proper
talent management in place can solve this problem. The following facts become worth
consideration here:
New employees cost the company 30-60 % more than the existing employee
in terms of compensation only.
There is an additional cost incurred on training and developing the new
individual.
The process of recruitments itself costs an organization in a big way, right
from advertising a post, to attracting talent and finally short listing and hiring
someone for the job. Often there is a compromise in hiring when the need is
urgent.
3. The context in which the business is done is more complex and dynamic. Hyper-
competition makes it more difficult than ever to sustain a competitive advantage long
term. New products—and new business models—have shorter life cycles, demanding
constant innovation. Technology enables greater access to information and forces us
to move “at the speed of business.” Global expansion adds to these challenges—a
single company may, for example, have its headquarters in Japan, its R&D function in
China, and its worldwide sales operations based in California. Record layoffs, lower
engagement, and less opportunity for advancement all present additional challenges to
managing talent.
4. Employee expectations are also changing. This forces organizations to place a
greater emphasis on talent management strategies and practices. Employees today are:
Increasingly interested in having challenging and meaningful work
More loyal to their profession than to the organization
10
Less accommodating of traditional structures and authority
More concerned about work-life balance
Prepared to take ownership of their careers and development
If talent management is a core part of any organization—if it can be hard-wired into the
fabric and operations of an organization’s most essential functions—HR and senior
leadership must work together. The most successful initiatives are driven by HR with active
and enthusiastic support from the CEO and other senior leaders— who provide the resources,
the budget, the communication and support necessary for success.
But HR needs to step up and play a critical role—more so than in the past. One wouldn’t
question who owns the marketing process or the financial oversight of an organization—
that’s clearly the domain of the top marketing or financial officer and their teams. Likewise,
HR needs to own and put in place professional talent management processes. And they need
to get closer to the business. One way to do this: Work with line managers to develop
business plans that integrate talent plans, including advice on the ability to meet the business
goal with the talent on board. When gaps exist, talent management professionals need to offer
solutions to close them. In short, talent management professionals have to be trusted business
advisors that execute the talent management process.
Talent management has never been more of an immediate concern than it is right now. But in
the rush to fill a perceived talent management void, organizations must be careful not to rush
into implementing initiatives or programs that are more about taking action than about
implementing a well-crafted solution. Careful planning, culminating in a sound talent strategy
that is tightly connected to the organization’s overall business strategies and business needs,
is required for talent management to become ingrained in an organization’s culture and
practices. Only when this happens is it possible for talent management to be both effective
and sustainable.
11
STRATEGIES FOR TALENT MANAGEMENT
The vivacious nature of global business is putting an ever-increasing pressure on companies
to be constantly on the lookout for incomparable talent in a market where demand far exceeds
supply. Given the current focus on the linkage between talent and an organisation's business
challenges and strategies, effective strategy execution requires sufficient numbers of the right
people with the right skills and knowledge, in the right roles. Pressing business necessities,
such as increasing turnover as the economy improves, globalisation of markets and labour
forces, aggressive competition and heightened corporate oversight, have intensified the need
to acquire, develop, deploy, motivate and retain key talent. Getting the right people with the
right skills into the right jobs, a common definition of talent management is the basic people
management challenge in organizations. While the focus of talent management tends to be on
management and executive positions, the issues apply to all jobs that are hard to fill. This has
made talent management one of the most pressing issues facing senior business executives
Introduction
Distinctly called human capital management, employee relationship management and
workforce management, among others, talent management is not a new concept, but one that
in the past corporations haven't been set to finalize. In most companies functions such as
recruitment and succession planning, learning and development, performance management,
workforce planning, compensation and other HR or training functions have often been
isolated in departmental silos. While important individually, these programs are usually a
loose potpourri of HR initiatives with little relation to each other, little arrangement with the
organization's vital few business goals and little real way of measuring their bottom-line
impact.
Talent Management enables organizations to rapidly align, develop, motivate, and maintain a
high-performance labor force. They also alleviate the hassle of writing performance reviews
by automating the task and ensuring quality of reviews and reviewed on time. Organizations
can establish and communicate critical corporate goals, measure performance improvement,
and ensure that all levels of the organization are aligned to attain critical business objectives.
The six dimensions of talent management are as shown-
12
TALENT
MANAGEMENT
DIMENSIONS
DESCRIPTION
Develop strategy Establishing the optimum long term strategy for attracting,
developing, connecting and deploying the workforce
Attract and retain Sourcing ,recruiting and holding onto the appropriate skills
and capitalize, according to business needs
Motivate and develop Verifying that people's capabilities are understood and
developed to match business requirements, while also
meeting people's needs for motivation, development and
job satisfaction
Deploy and manage Providing effective resources deployment, scheduling and
work management that match skills and experience with
organizational needs
Connect and enable Identifying individuals with relevant skills , collaborating
and sharing knowledge and working effectively in virtual
settings
Transform and sustain Achieving clear measurable and sustainable change within
the organization, while maintaining day to day continuity of
operations
SIX DIMENSIONS OF TALENT MANAGEMENT
Source: IBM Institute for Business Value/Human Capital Institute.
Talent management and HR
Talent management suddenly evoked the charm and attention for the business world. Much of
the reason may be due to the fact that technology has finally begun to catch up. Human
resource management systems (HRMS) providers, already present in many businesses, have
begun to create add-on applications that provide a strategic layer on top of the more
administrative HR functionalities they already offer. It seems obvious then that the functions
that make up talent management can no longer be viewed independently, or hidden in HR or
training departments if they are to be truly successful. Rather, talent management must be
13
counterfeit from a true partnership between management and the departments that oversee the
"people function." The main characteristics of HR and TM are as shown-
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,
Technolog
y solutions
Feature rich single function
applications, designed for HR
professionals
Comprehensive , configurable cross
functional solutions designed for
business managers
CHARACTERISTICS OF HR AND TM PROCESS
The greatest talent management system on the market is worthless if the organization is not
prepared to adopt and integrate it. Each company needs to take inventory of its people and
processes, answer questions about its direction and who is responsible for getting it there.
Most importantly, companies need to break down the ever present "departmental silos" by
creating an environment in which technology can be leveraged to facilitate and maximize an
already well-thought-out program and to link it the organization's strategic goals.
Talent management challenges
Business success relies on successful talent management. If a hospital executive can't find
nurses, a retail store executive can't develop and engage store managers, or a lab director can't
keep great scientists, they will have difficulty meeting their organization's strategic business
14
objectives. The challenges of finding, keeping, developing, and motivating people in key
positions are precisely what progressive HR professionals should be focusing on. These
managers face ongoing talent management challenges that are critical to their achieving
business goals. The main challenges are as shown-
Challenges in Talent Management
Many organizations believe that effective talent management practices can be a significant
source of demarcation in today's cutthroat competition in a globally integrated economy. At
the same time, industries face their own set of unique challenges – a situation that has led
ventures to focus on different pieces of the talent management "puzzle." A recently
completed study by IBM highlights how knowledge- and service-intensive industries tend to
spend significant time and attention on talent management activities, while not-for-profit
organizations appear to struggle to make the most of their workforce. Knowledge-intensive
industries tend to focus on developing and connecting their employees. Financial services
companies tend to focus on employee attraction and retention, Retailers apply a notable
number of talent management practices overall and finally Government agencies, educational
institutions and some healthcare firms fall short in managing talent and sustaining change
Effective talent management processes and systems can have a significant positive impact on
business. The most valuable systems are those that deliver direct value to the business
manager, which are easy to use, and that are integrated across functions. Processes and
systems that meet these criteria are well-suited to help companies meet their critical talent
management challenges.
Strategies for talent management
15
Talent Management, usually referred as Human Capital Management, is the process
recruiting, managing, assessing, developing and maintaining an organization's most important
resource—it's people!
The typical strategies include:-
1. Merge talent management data by having incorporated exceptional capabilities in
learning, performance, and compensation management software.
2. Automate the talent management process into an online solution there by reducing time
and costs of performance reviews.
3. Recognize and close employee performance gaps by instantly turning automated
performances appraisals into training development plans.
4. Align training demand with performance needs and strategic goals directly there by
reducing time and money spent on non-strategic training activities.
5. Eliminate conflicting evaluation criteria by applying a standardized solution that
impose consistent language, feedback, and evaluation criteria
6. Use reliable, fair pay-for-performance initiatives
Talent Management processes is typically found in numerous parts of an organization. Thus,
many organizations struggle to align their talent management under one consistent strategy. It
may be a considerable challenge to make this happen. For example, a cohesive talent
management strategy is as shown-
16
Cohesive Talent Management Strategy
Conclusion
Failures in talent management are mainly due to the mismatch between the supplies and
demand not due to the failure in the concept. We need a new way of thinking about the talent
management challenge. A new framework for talent management has to begin by being clear
about the objectives. Talent management is not an end in itself. It is not about developing
employees or creating succession plans. Nor is it about achieving specific benchmarks like a
five percent turnover rate, having the most educated workforce, or any other tactical outcome.
The goal of talent management is the much more general, but the most important task of TM
is to help the organization to achieve its overall objectives.
17
NEED FOR SURVEYS
Gathering an accurate understanding of how employees feel about each other, their leaders,
their current positions, and the organization as a whole. Determining what aspects of your
organization are currently working effectively, what are opportunities for improvement? The
consistent measurement of these elements will instil accountability among leaders for making
progress in areas needing improvement. It also helps in capturing new areas of opportunity as
they emerge.
Survey Life Cycle
Set Up SurveyAdministration
DataAnalysis
ResultsDelivery
ActionPlanning
Surveys help determine:
• Satisfaction levels of employees
• Their willingness to be with the organization
• Their expectations
• Their discontent
• Areas of improvement for organization in order to retain employees
• Incentives and changes that would help raise productivity
• Issues not known to the management
18
Survey Sample:
Talent Management Practices-“Importance” Versus Ability to Put These “In Place”
19
All employees cant be made happy. It is necessary to check alignment of Company
goals and values to that of employee’s. It is necessary to ensure employee engagement
to the roles slated for them to fill. It is necessary to find the top performers – 21%
hardworking and talented employees. Company should invest in high potential
employees to increase output levels. Company’s should develop a leadership pipeline
and retain these key performers. Employees should be trained in domains that suit
their aptitude. Focus should be on training programs on applied learning to engage
employees and increase their productivity levels. A career graph for employees should
be made. It is necessary for employees to feel satisfied emotionally and
professionally. A good career with a healthy working environment is the key to
retaining employees.
Choose employees who perform better and invest in them by helping them gain more
domain knowledge, giving them challenging jobs and paying them well. They would
stay back with the Company and will help the Company grow as their ambitions and
interests are being directed through the right channel by the company.
20
Visibly supporting employee development can increase performance by 20%.
21
TALENT MANAGEMENT ACTIVITIES
Talent management includes following activities:
• Culture and values
Culture and values play a very important role in every organisation. It is very
necessary to portray a very clear message about Company’s mission and its work
culture to all the employees. A laid back employee would not do well with a
Company with very rigorous plans and strategies.
• Workforce planning
Workforce must be planned in a very organised and systematic manner. All the
positions should be matched appropriately so that there is no employee dissatisfied
with his work. Resources must be allocated well and on time for good performance.
22
• Recruitment
It necessary to understand how well a candidate will suit certain position. Roles
should be mapped strategically.
• On boarding new hires
New hires should be trained well and should be given enough time and resources to
work on.
• Training and development
It forms and important part of every organisation. Training and development helps
employees face new challenges and be ready for projects on various domains.
• Coaching
Time to time coaching must be given to every employee. Knowledge management
and sharing system should be in place.
• Employee Engagement
Employee engagement is very important for the growth of the organisation.
• High performer development
Performers should be identified and recognised and invested on.
• Rewards and recognition
They act as incentives for employees to work on.
• Succession planning
It is necessary to plan in advance so that things are well organised and in place.
• Talent record-keeping/reporting and analysis
Company needs to get constant feedback about practices and proceedings in the above
activities from employees at all levels in organization.
23
ANALYSIS OF COLLECTED DATA
Research Design:
We have collected primary data for our study.
Sampling Design:
Our sample size (n) is 5 and since n<30 we have used the t-test method of sampling.
We have used the paired t-test since we have compared two sets of data,each representing
certain statistics on before and after talent management practices were introduced in the
company.
Formulation of hypothesis:
H o: µ1 = µ2 i.e. there is no significant difference in the attrition rate after the adoption of
talent management practices.
H 1: µ1>µ2 i.e. there is a decrease in the attrition rate after the adoption of talent management
practices.
Data collection:
The data that we have collected for our study is primary data.
We have collected two sets of data for 5 different sectors of a company (due to privacy
concerns we have not been permitted to name the company). The five different sectors are
Accounts, Sales, HR, Marketing and IT.
One set of data represents the no. of employees who had joined one of the above five sectors
of the company in the year 2005’ and had left the company on or before 2007’ i.e. in a span
of two years from their date of joining. And this set of data pertains to the period during
which talent management polices had not been adopted by the company.
24
The second set of data represents the no. of employees who had joined one of the above five
sectors of the company in the year 2009’ and have left the company on or before 2011’ i.e. in
a span of two years from their date of joining. This set of data however pertains to the period
during which talent management policies were practiced by the company.
Data analysis:
The following graphs represent the above two sets of data.
The graph below represents the no. of employees who joined one of the five sectors of the
company in the year 2005 and left on or before 2007. And this set of data pertains to the
period during which talent management practices were not adopted by the company.
Accounts HR Sales Marketing IT0
10
20
30
40
50
60
70
The next graph represents the no. of employees who had joined one of the five sectors of the
company in the year 2009 and left on or before 2011. And this set of data pertains to the
period during which talent management practices had been adopted by the company.
25
Accounts HR Sales Marketing IT0
10
20
30
40
50
60
70
Testing of hypothesis:
Before After Difference (X) (X−X� )2
Accounts 53 30 23 0
HR 45 33 12 121
Sales 58 27 31 64
Marketing 62 35 27 16
IT 49 27 22 1
115 202
X̅U = 23
σ =√¿¿/(n-1))
σ = √202/4
26
= 7.11
t cal= (X̅U √n¿/σ
= 23 √5/7.12
t cal= 7.23
t tab:
Assuming α = 5 %
Degrees of freedom = n – 1
= 4
t tab = 2.132
t cal>t tab
Therefore we reject H o .
Results and findings:
Since t cal>t tab, we reject H oand conclude that the attrition rate of the company has decreased
after the adoption of talent management practices.
Attrition analysis for 2009
MECJAN'0
9FEB'09
MAR'09
APR'09
MAY'09
JUN'09
JUL'09
AUG'09
SEP'09
OCT'09
NOV'09
DEC'09
1Jan Count 104 104 100 99 96 96 96 95 92 91 85 83 - Leavers -4 -1 -3 -1 0 -3 -1 -1 -6 -4 -4
Average HC for 2009
95.08
Resignations in 2009 28
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Attrition % in 2009
29%
MEC JAN'10
FEB'10
MAR'10
APR'10
MAY'10
JUN'10
JUL'10
AUG'10
SEP'10
1 January Headcount 81 85 85 90 90 91 96 98 97Less - Voluntary Leavers
-4 -3 -6 -5 -1 0 -7 -3
Attrition analysis for 2010
Average HC for 2010 90.33Resignations in 2010 29Attrition % in 2010 32%
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ACKNOWLEDGEMENTS
No work can acquire the desired degree of perfection without proper assistance and guidance. We are highly indebted to our Prof. Sandeep Bhanot for his constant support and invaluable suggestions. We express our deep gratitude for providing us with an opportunity to explore this subject and in the process acquire deep insights in the said area.
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