Talent Management

Talent Management Satyendra rohit Anand

Definition’s 1. Talent is like electricity. We don't understand electricity. We use it. Maya Angelou, Peninsula school, USA 2. Talent is only starting point in business. You have got to keep working that talent. Irving Berlin 3. Talent is culture with insolence. Aristotle

Talent Vs Knowledge people Talent

knowledged people

1. Make and break the rule

Conserve the rule

2. Creates new

Implements

3. Initiate change

Support change

4. Innovate

Learn

5. Direction

Action

Source of Talent Talent management system

Internal talent

Hidden Talent

Talent from market

Hidden and Internal Talents: Often found lurking in the most unlikely places there are people within your organization who leave most signs of their talent at home! In their life outside work these people hold down positions of responsibility (e.g. volunteer youth worker, rugby coach) or they display outstanding creativity . At work however these people are frequently categorized as “someone who does a good job and then goes home. Market Talents: Talents that any organization wants to acquire from market, colleges, university, society, and from other organization

Why talent management Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. This is beneficial for both organization and employee Organization Benefits : * Increased productivity * A better linkage between individuals' efforts * Commitment of valued employees * Reduced turnover * A balance between people's jobs and skills Employee Benefits : * Higher motivation and commitment * Career development * Sustained motivation and job satisfaction.

Why talent management cont… Cost to loose a talent: Costs Salary Additional salary costs Costs for colleagues who have to deal with jobs not done by that employee* Costs for headhunter 35.000 Euro Costs for making the new hire productive** Costs for colleagues taking over add. tasks to compensate on boarding time of new hire Total

100.000 Euro 30.000 Euro 33.000 Euro 50.000 Euro 33.000 Euro 281.000 Euro

Other important purpose : 1. Transparence about our Human Capital 2. Recognition &Development of performance and potential 3. Long – term Competitiveness

Some points in managing talent 1. Talents do not respond well to command and control style 2. Talents need freedom and flexibility 3. Practice and foster a winning attitude 4. Allow participation in decision making 5. Use Talent based decision 6. Praise in public , Pan in private 7. Use total honesty 8. Grant trust 9. Focus on process not on result 10.Be a friend not a boss 11.Treat Talent as customer

Talent management system

Design Talent friendly environment

Design TMS

Talent Friendly Environment A winning organization management System has nine element to build a talent friendly environment where talent can be attracted and retained. Customer Focus System Performance And Satisfaction Measurement System Participative management system Change management system Constant Innovation system Project team formation system Employee development system Human resource management system Financial Support system

Talent Friendly Environment cont…. Performance and satisfaction measurement system 1. Talent Satisfaction Measurement System 2. Talent Action Response System 3. Talent Management system

Talent Friendly Environment cont…. Participative management system 1. Management by participation, process, project and wondering around 2. Responsibility, authority, accountability process 3. Open door practice

Talent Friendly Environment cont…. Constant Innovation System 1. Innovation Institute 2. Implement six sigma 3. Benchmarking 4. Training 5. Idea seeding and cultivation fund 6. Champion process

Talent Friendly Environment cont…. Employee Development System 1. XYZ management 2. Performance assessment and enhancement process 3. Career planning 4. Four C’s process 5. Talent scorecard

TMS: TMS is an effective tool for creation of relationship between talent and management. This deals how organization attract, keep and manage talents. TM is the process of managing the supply and demand of talent to achieve optimal business performance in alignment with organisational goals. Heidi Sprigi, President of knowledge infusion TM refers to the process of developing and interacting new workers, developing and retaining current workers, and attracting highly skilled workers to work for the company. Wikipedia

TMS

Attract Talent

1.

2. 3.

Design a talent management system Unbiased reward and reorganization Flexible work environment and positive culture

4.

Proper training

5.

Effective and meaningful appraisal system

6.

Design job for talented people

7.

Proactive visionary management and leadership

8.

Provide proper research facility

Keep Talent

1.

Compensate Talents as suppliers

2.

Right location to attract and retain Talents

3.

Assign right job to right talent

4.

Career and succession plan

5.

Balance age, race, gender, color

6.

Create challenging environment

7.

Create social bond through adventure, sports, party, contest etc

8.

Profit sharing plan

9.

Eliminate non working people

Manage Talent

Identify talent

1.

Identify own talent before hiring talent

2.

Performance based talent tool

Set positive & constructive challenge

3.

Test based

5.

Performing XYZ analysis

4.

Scorecard entries

6.

Monitor talent as assets

7.

Set challenging business goal

8.

Take corrective action if necessary

1.

Establish effective communication and cooperation

2.

Allow talent to create and apply knowledge

3.

Build trust on talents

4.

Steps to identify talents: 1. Select a jury : who examine evidence, vote and their strengths. Jury design a scorecard.

Attributes Innate Skills Intellectual strength Creativity Work hard Work smart Continuous learning Passion for work Passion for action commited to enterprise ……………. ……………. ……………. ……………. ……………. …………….

talent scorecard Type of evidence self score jury score

Steps to identify talents cont… 2. Selecting and understanding evidence: Two objective and two subjective evidence Boss + 1 or 2

Supplier peer

Talent subject

2 or 3 subordinate

Customer peer

Steps to identify talents cont… 3. Self scoring : Talent should make self assessment. 4. Jury scoring : Jury gives the score to talent on evidence 5. Average scoring of jury members 6. Analyze score : score shows whether weakness or strength 7. Normalize score to common scale: Score Position

=

Maximum count

Scale range

Steps to identify talents cont…

9 8 7 6 5 4 3

Super talent

2 1

Weak opportunity

Strong talent Talent Watch talent Average Watch for improve Questionable talent No talent

Normalize score to common scale

Challenges

solutions

Collision between talents Not compatible with change

Talent Fusion Gross root education

Talent development budget Hiring and holding Forecast return on talent Replacement cost Training cost

Knowledge generated and applied Return on talent (ROT)

=

=

Investment in talent

Project value

-

project expenses

Investment on talent

Conclusion It is agreed by almost all CEOs of big companies that it is the human resource – a talented one – that can provide them competiveness in the long run. So, it is the duty of the HR department to nurture a brigade of talented workforce which can win the war in the business field.

References The talent era by subhir chaudhary www.wikipedia.com www.management.com