Talent Management

TALENT MANAGEMENT TAC PRESENTATION Presented by: Dhananjay Gotmare

Consider this…

..at any one time 59% of employees will be open to working elsewhere

What is Talent Management? A set of business practices that manage the planning, acquisition, development, retention and advancement of talent in order to achieve business goals and optimize performance. “Nothing is as important as identifying, training, and holding onto talented people” – Jack Welch

IMPORTANCE OF TALENT MANAGEMENT • • • •

Recruitment Retention Employee development Leadership and "high potential employee" development • Performance management • Workforce planning • Culture

In good times and bad When business needs are high, people with a range of talents are added. When business eases, talent needs drop and workforce reductions and hiring freezes are common responses

Role of HR in Talent Management • Executing talent management strategy • Being custodians of the talent management process • Providing guidance and fresh thinking about talent management programs

Talent Management Helps in Increasing • Employee satisfaction • Worker productivity • Learning effectiveness • Service levels

Reducing • Employee turnover • Time to ramp new hires

Talent Management At a Glance Current Organizational Objectives

Workforce Competencies

Competency Gap Required Job Skills

Align Development with Needs

Future

Improve Critical Competencies Close Gaps & Monitor Performance

Required Job Skills

Talent Management Process PLAN EVALUATE DEVELOP ADVANCE LEAD ANALYZE

Identify The Employees Superkeepers – A very small group of individuals who have demonstrated superior accomplishments, and who embody the core competencies and values of the organisation

Identify The Employees Keepers – Those who exceed employee expectations Solid Citizens – Meet organisational expectations Misfits – Those who fall below organisational expectations

Measure and Monitor Talent Self-Management •Progress monitoring •Self assessment •Competencies update

Measure and Monitor Talent Employee Management • Appraisals • Project reviews • Performance reviews • Progress monitoring

Measure and Monitor Talent Career Progression Metrics • Training completion & success rates • Skills improvement rates • On-the-Job Proficiencies

HOW TO EFFECTIVELY MANAGE TALENT? • Build a winning environment that people want to belong to • Establish a talent management mindset, which embeds ownership and accountability for optimising talent and potential • Create tangible means to identify, select and deploy people of outstanding talent • Fully engage talent, use it and manage it intelligently

Recognize talent Change Organisation Culture

Attracting Talent

WAYS TO MANAGE TALENT Managing Succession

Selecting Talent Retaining Talent

ways to keep hold of talent •Build a path that enables the employees to utilise their full potential •Invest in building the psychological contract –Individual growth –Compelling future –Pay –Positive workplace

Talent Retention Map Career Progression

Plan

• Align Workforce to Strategic Objectives • Retain Top Talent

Instruct

• Provide Training • Enable Global Learning

Measure & Monitor

• Track Learning and Progression • Quantify the Effect of Training

Learning Retention

Reward & Promote

• Give Suitable Compensation and Rewards

Appreciate the contribution of all the employees

The woods would be very silent if no birds sang there except those that sang best

THANK YOU...