talent management strategies
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RESEARCH PAPERRESEARCH PAPERRESEARCH PAPERRESEARCH PAPER
ONONONON
STUDY OF STUDY OF STUDY OF STUDY OF
TALENT MANAGEMENT TALENT MANAGEMENT TALENT MANAGEMENT TALENT MANAGEMENT
STRATEGIESSTRATEGIESSTRATEGIESSTRATEGIES
SUBMITTED TO: SUBMITTED BY:
Ms. RADHIKA BHUTANI GAURAV KUMAR
LECTURER, BPIT MBA IIND SEMESTER
ENROLL. NO: 00920803909
Table of Contents
Particulars Page
No.
1. Background 1
2. Introduction 2
2.1 Definition 2
2.2 From Personnel to Strategic HR to Talent Management 3
3. TM in Present Scenario 4
3.1 TM Initiatives 4
3.2 TALENT in Present Context 5
3.2.1 Identify the Employees 5
3.2.2 Measure and Monitor Talent 5
4. How to Effectively Manage Talent 6
4.1 How does an organisation effectively manage Talent? 6
4.2 Ways to Keep hold of Talent 7
4.3 Talent Retention Map 7
5. Talent Management Strategies 7
5.1 Attract Talent 7
5.2 Keep Talent 8
5.3 Manage Talent 8
5.4 Identify Talent 8
6. Eight Steps of Talent Management Process 8
6.1 Workforce Planning 8
6.2 Recruiting 8
6.3 Onboarding 8
6.4 Performance Management 9
6.5 Training and Performance Support 9
6.6 Succession Planning 9
6.7 Compensation and Benefits 9
6.8 Critical Skills Gap Analysis 9
7. Areas of Talent Management 9
7.1 Talent Appreciation 9
7.2 Potential Enhancement 10
7.3 Acquisition of Talent 10
7.4 Knowledge Management 10
8. Advantages of Talent Management 11
9. Disadvantages of Talent Management 11
10. Recommendations 12
11. Conclusions 13
12. Bibliography 14
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 1
RESEARCH PAPER TITLE: STUDY OF TALENT MANAGEMENT STRATEGIES
NAME: GAURAV KUMAR
ENROLLMENT NO: 00920803909
EMAIL ID: gaurav.npti@gmail.com
1. Background
Talent management is a process that emerged in
the 1990s and continues to be adopted, as more
companies come to realize that their employees’
talents and skills drive their business success.
Companies that have put into practice talent
management have done so to solve an employee
retention problem. The issue with many
companies today is that their organizations put
tremendous effort into attracting employees to
their company, but spend little time into retaining
and developing talent. A talent management
system must be worked into the business strategy
and implemented in daily processes throughout
the company as a whole. It cannot be left solely
to the human resources department to attract and
retain employees, but rather must be practiced at
all levels of the organization. The business
strategy must include responsibilities for line
managers to develop the skills of their immediate
subordinates. Divisions within the company
should be openly sharing information with other
departments in order for employees to gain
knowledge of the overall organizational
objectives. Companies that focus on developing
their talent integrate plans and processes to track
and manage their employee talent, including the
following:
• Sourcing, attracting and recruiting
qualified candidates with competitive
backgrounds
• Managing and defining competitive
salaries
• Training and development opportunities
• Performance management processes
• Retention programs
• Promotion and transitioning
Talent management can also be known as HCM
(Human Capital Management), HRIS (HR
Information Systems) or HRMS (HR
Management Systems), and HR Modules.
Human capital management
Companies that engage in talent management
(Human Capital Management) are strategic and
deliberate in how they source, attract, select,
train, develop, retain, promote, and move
employees through the organization. Since the
initial hiring process is so expensive to a
company, it is important to place the individual
in a position where his skills are being
extensively utilized.
The term "talent management" means different
things to different organizations. To some it is
about the management of high-worth individuals
or "the talented" whilst to others it is about how
talent is managed generally - i.e. on the
assumption that all people have talent which
should be identified and liberated. From a talent
management standpoint, employee evaluations
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 2
concern two major areas of measurement:
performance and potential. Current employee
performance within a specific job has always
been a standard evaluation measurement tool of
the profitability of an employee. However, talent
management also seeks to focus on an
employee’s potential, meaning an employee’s
future performance, if given the proper
development of skills and increased
responsibility.
The major aspects of talent management
practiced within an organization must
consistently include:
• performance management
• leadership development
• workforce planning/identifying talent
gaps
• recruiting
This term "talent management" is usually
associated with competency-based human
resource management practices. Talent
management decisions are often driven by a set
of organizational core competencies as well as
position-specific competencies. The competency
set may include knowledge, skills, experience,
and personal traits (demonstrated through defined
behaviors).
2. INTRODUCTION
This new age economy, with its attendant
paradigm shifts in relation to the human capital,
in terms of its acquisition, utilization,
development and retention, has placed a heavy
demand on today’s HR professionals. Today HR
is expected to identify potential talent and also
comprehend, conceptualize and implement
relevant strategies to contribute effectively to
achieve organizational objectives. Hence a
serious concern of every HR manager in order to
survive this ‘War for Talent’, is to fight against a
limited and diminishing pool of qualified
available candidates to replace valuable
employees when they leave, dramatically
underscoring the difficulty to attract, motivate
and retain the best employees in an organization.
2.1 Definition
Talent management refers to the process of
developing and integrating new workers,
developing and retaining current workers, and
attracting highly skilled workers to work for a
company. The process of attracting and retaining
profitable employees, as it is increasingly more
competitive between firms and of strategic
importance, has come to be known as "the war
for talent."
Despite intense competition being the key to
market development and success, organisations
have failed to identify some of the major reasons
which highlight why ‘good performers’ leave. In
his study, Branham clearly states that one major
reason why people leave their organisation is
because of the organisation’s failure to bring
about a correlation between pay and
performance. Human Resource experts in the
industry believe matching the right blend of
talent with the right job profile can lead to
superior performance.
Human Resource Management: Research Paper
Study of Talent Management Strategies
2.2 From Personnel to Strategic HR to
Talent Management
To understand why Talent Management has
become so important, we must first look at the
evolution of corporate HR:
Stage 1: Personnel Department:
In the 1970s and 1980s the business function
which was responsible for people was called
"The Personnel Department." The role of this
group was to hire people, pay them, and make
sure they had the necessary benefits.
systems which grew up to support this function
were batch payroll systems. In this role, the
personnel department was a well understood
business function.
Stage 2: Strategic HR:
In the 1980s and 1990s organizations realized
that the HR function was in fact more important
and the concepts of "Strategic HR" emerged.
During this period organizations realized that the
VP of HR had a much larger role:
right people, training them, helping the business
design job roles and organization structures
(organization design), develop "total
compensation" packages which include benefits,
stock options and bonuses, and serving as a
central point of communication for employee
health and happiness.
The "Head of Personnel" became the "VP of HR"
and had a much more important role in business
strategy and execution. The systems which were
built up to support this new role include
recruiting and applicant tracking (ATS), portals,
total compensation systems, and learning
Human Resource Management: Research Paper
Study of Talent Management Strategies
2.2 From Personnel to Strategic HR to
To understand why Talent Management has
become so important, we must first look at the
Personnel Department:
In the 1970s and 1980s the business function
which was responsible for people was called
The role of this
group was to hire people, pay them, and make
he necessary benefits. The
systems which grew up to support this function
In this role, the
personnel department was a well understood
In the 1980s and 1990s organizations realized
that the HR function was in fact more important -
and the concepts of "Strategic HR" emerged.
During this period organizations realized that the
VP of HR had a much larger role: recruiting the
raining them, helping the business
design job roles and organization structures
(organization design), develop "total
compensation" packages which include benefits,
stock options and bonuses, and serving as a
central point of communication for employee
lth and happiness.
The "Head of Personnel" became the "VP of HR"
and had a much more important role in business
The systems which were
built up to support this new role include
recruiting and applicant tracking (ATS), portals,
otal compensation systems, and learning
management systems.
department now became more than a business
function: it is a business partner
support lines of business.
Stage 3: Talent Management:
We are now entering a new era:
of "Talent Management."
continues to be a major focus, HR and L&D
organizations are now focused on a new set of
strategic issues:
� How can we make our recruiting process
more efficient and effective by us
"competency-based" recruiting instead of
sorting through resumes, one at a time?
� How can we better develop managers
and leaders to reinforce culture, instill
values, and create a sustainable
"leadership pipeline?"
� How do we quickly identify competency
gaps so we can deliver training, e
learning, or development programs to fill
these gaps? How can we use these gaps
to hire just the right people?
Gaurav Kumar (009)
3
In this role, the HR
department now became more than a business
business partner, reaching out to
support lines of business.
Talent Management:
ering a new era: the emergence
of "Talent Management." While strategic HR
continues to be a major focus, HR and L&D
organizations are now focused on a new set of
How can we make our recruiting process
more efficient and effective by using
based" recruiting instead of
sorting through resumes, one at a time?
How can we better develop managers
and leaders to reinforce culture, instill
values, and create a sustainable
"leadership pipeline?"
How do we quickly identify competency
gaps so we can deliver training, e-
learning, or development programs to fill
How can we use these gaps
to hire just the right people?
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 4
� How do we manage people in a
consistent and measurable way so that
everyone is aligned, held accountable,
and paid fairly?
� How do we identify high performers and
successors to key positions throughout
the organization to make sure we have a
highly flexible, responsive organization?
� How do we provide learning that is
relevant, flexible, convenient, and
timely?
These new, more challenging problems require
new processes and systems. They require tighter
integration between the different HR silos -- and
direct integration into line of business
management processes. Today organizations are
starting to buy, build, and stitch together
performance management systems, succession
planning systems, and competency management
systems. The HR function is becoming
integrated with the business in a real-time
fashion.
3. Talent Management in
Present Scenario 3.1 TM Initiatives Talent management (TM) brings together a
number of important human resources (HR) and
management initiatives.
Quite often, organizations adopting a TM
approach will focus on coordinating and
integrating:
• Recruitment - ensuring the right people
are attracted to the organization.
• Retention - developing and
implementing practices that reward and
support employees.
• Employee development - ensuring
continuous informal and formal learning
and development.
• Leadership and "high potential
employee" development - specific
development programs for existing and
future leaders.
• Performance management - specific
processes that nurture and support
performance, including
feedback/measurement.
• Workforce planning - planning for
business and general changes, including
the older workforce and current/future
skills shortages.
• Culture - development of a positive,
progressive and high performance "way
of operating".
An important step is to identify the staff or
employees (people and positions) that are critical
to the organization. They do not necessarily have
to be senior staff members. Many organizations
lost a lot of "organizational knowledge" in the
downsizing exercises of a few years ago. The
impact of the loss was not immediately apparent.
However, it did not take long for many
companies to realize their mistake when they did
not have people with the knowledge and skills to
either anticipate or solve problems that arose.
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 5
3.2 “TALENT” in Present Context Talent = Competence × Commitment
× Contribution
C = COMPETENCE
• ABLE TO DO THE WORK
MEANS THE KNOWLEDGE, SKILLS,
AND VALUES THAT INDIVIDUALS
REQUIRE FOR TODAY’S AND
TOMORROW’S JOBS.
C= COMMITMENT
• MEANS THE LEVEL OF EMPLOYEE
ENGAGEMENT.
IS WHEN EMPLOYEES WORK ON
TIME, WORK HARD AND DO WHAT
IS EXPECTED OF THEM.
C = CONTRIBUTION
• FINDING MEANING & PURPOSE IN
WORK.
3.2.1 Identify the Employees
� Super keepers
• A very small group of individuals who
have demonstrated superior
accomplishments, and who embody the
core competencies and values of the
organisation.
� Keepers
• Those who exceed employee
expectations
� Solid Citizens
• Meet organisational expectations
� Misfits
• Those who fall below organisational
expectations
3.2.2 Measure and Monitor Talent
Self-Management
• Progress monitoring
• Self assessment
• Competencies update
Employee Management
• Appraisals
• Project reviews
• Performance reviews
• Progress monitoring
Career Progression Metrics
• Training completion & success rates
• Skills improvement rates
• On-the-Job Proficiencies
Human Resource Management: Research Paper
Study of Talent Management Strategies
4. HOW TO EFFECTIVELY
MANAGE TALENT?
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 profi
any other position will cause discomfort.
Talent Management is beneficial to both the
organisation and the employees.
• 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
4.1 So, how does an organisation
effectively manage talent?
1. Recognise Talent: Notice what do
employees do in their free time and find out
their interests. Try to discover their strengths
and interests. Also, encourage them to
discover their own latent talents.
instance, if an employee in the operations
department convincingly explains why he
thinks he's right even when he's wrong,
consider moving him to sales!
Human Resource Management: Research Paper
Study of Talent Management Strategies
HOW TO EFFECTIVELY
Talent management implies recognising a
person's inherent skills, traits, personality and
. Every person has a
unique talent that suits a particular job profile and
any other position will cause discomfort.
Talent Management is beneficial to both the
Build a winning environment that people
Establish a talent management mindset,
which embeds ownership and
accountability for optimising talent and
Create tangible means to identify, select
and deploy people of outstanding talent
Fully engage talent, use it and manage it
4.1 So, how does an organisation
: Notice what do
employees do in their free time and find out
their interests. Try to discover their strengths
and interests. Also, encourage them to
discover their own latent talents. For
instance, if an employee in the operations
nt convincingly explains why he
thinks he's right even when he's wrong,
consider moving him to sales!
2. Attracting Talent : Good companies create a
strong brand identity with their customers
and then deliver on that promise. Great
employment brands do the
quantifiable and qualitative results. As a
result, the right people choose to join the
organisation.
3. Selecting Talent: Management should
implement proven talent selection systems
and tools to create profiles of the right people
based on the com
performers. It's not simply a matter of finding
the "best and the brightest," it's about
creating the right fit
tomorrow.
4. Retaining Talent: In the current climate of
change, it's critical to hold onto the key
people. These are the people who will lead
the organisation to future success, and you
can't afford to lose them.
The cost of replacing a valued employee is
enormous. Organisations need to promote
diversity and design strategies to retain
WAYS TO
MANAGE
TALENT
RECOGNISE
TALENT
RETAINING
TALENT
MANAGING
SUCCESION
CHANGE
ORGANI-
SATION
CULTURE
Gaurav Kumar (009)
6
: Good companies create a
strong brand identity with their customers
and then deliver on that promise. Great
employment brands do the same, with
quantifiable and qualitative results. As a
result, the right people choose to join the
: Management should
implement proven talent selection systems
and tools to create profiles of the right people
based on the competencies of high
performers. It's not simply a matter of finding
the "best and the brightest," it's about
creating the right fit - both for today and
: In the current climate of
change, it's critical to hold onto the key
These are the people who will lead
the organisation to future success, and you
can't afford to lose them.
The cost of replacing a valued employee is
Organisations need to promote
diversity and design strategies to retain
WAYS TO
MANAGE
TALENT
RECOGNISE
TALENT
ATTRACT-
ING
TALENT
SELECTING
TALENT
RETAINING
TALENT
Human Resource Management: Research Paper
Study of Talent Management Strategies
people, reward high performance and provide
opportunities for development.
5. Managing Succession: Effective
organisations anticipate the leadership and
talent requirement to succeed in the future.
Leaders understand that it's critical to
strengthen their talent pool through
succession planning, professional
development, job rotation and workforce
planning. They need to identify potential
talent and groom it.
6. Change Organisation Culture
yourself, "Why would a talented person
choose to work here?" If the
wishes to substantially strengthen its talent
pool, it should be prepared to change things
as fundamental as the business strategy, the
organisation structure, the culture and even
the caliber of leaders in the organisation.
A rightly managed talent turns out to be a
Gold Mine. It's inexhaustible and priceless. It
will keep supplying wealth and value to the
organisation.
In turn, Management needs to realise its
worth, extract it, polish it and utilise it. Don't
hoard Talent- spend it lavishl
millionaire flashing his luxuries, because
Talent is Wealth!
4.2 Ways to keep hold of talent
• Build a path that enables the employees
to utilise their full potential
• Invest in building the psychological
contract
Human Resource Management: Research Paper
Study of Talent Management Strategies
people, reward high performance and provide
opportunities for development.
: Effective
organisations anticipate the leadership and
talent requirement to succeed in the future.
Leaders understand that it's critical to
lent pool through
succession planning, professional
development, job rotation and workforce
planning. They need to identify potential
Change Organisation Culture: Ask
yourself, "Why would a talented person
choose to work here?" If the organisation
wishes to substantially strengthen its talent
pool, it should be prepared to change things
as fundamental as the business strategy, the
organisation structure, the culture and even
the caliber of leaders in the organisation.
d talent turns out to be a
Gold Mine. It's inexhaustible and priceless. It
will keep supplying wealth and value to the
In turn, Management needs to realise its
worth, extract it, polish it and utilise it. Don't
spend it lavishly, like a
millionaire flashing his luxuries, because
4.2 Ways to keep hold of talent
Build a path that enables the employees
to utilise their full potential
Invest in building the psychological
– Individual growth
– Compelling
– Pay
– Positive workplace
4.3 Talent Retention Map
• Appreciate the contribution of all the
employees
The woods would be very silent if no
birds sang there except those that sang
best
5. Talent management Strategies
5.1 Attract Talent
1. Design a talent management system
2. Unbiased reward and recognition
3. Flexible work environment and positive
culture
4. Proper training
Attract Talent
Keep Talent
Gaurav Kumar (009)
7
Individual growth
Compelling future
Positive workplace
Talent Retention Map
Appreciate the contribution of all the
The woods would be very silent if no
birds sang there except those that sang
Talent management Strategies
management system
Unbiased reward and recognition
Flexible work environment and positive
TMS
Manage Talent
Identify talent
Human Resource Management: Research Paper
Study of Talent Management Strategies
5. Effective and meaning appraisal system
6. Design job for talented people
7. Proactive visionary management and
leadership
8. Provide proper research facility
5.2 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 ad
sports, party, contest etc
8. Compensation and Profit sharing plan
9. Eliminate non working people
5.3 Manage Talent
1. Establish effective communication and
cooperation
2. Allow talent to create and apply
knowledge
3. Build trust on talents
4. Set positive & constructive challenge
5. Performing XYZ analysis
6. Monitor talent as assets
7. Set challenging business goal
8. Take corrective action if necessary
5.4 Identify Talent
1. Identify own talent before hiring talent
2. Performance based talent tool
3. Test based
4. Scorecard entries
Human Resource Management: Research Paper
Study of Talent Management Strategies
Effective and meaning appraisal system
Design job for talented people
Proactive visionary management and
facility
Compensate talents as suppliers
Right location to attract and retain
Assign right job to right talent
Career and succession plan
Balance age, race, gender, color
Create challenging environment
Create social bond through adventure,
Compensation and Profit sharing plan
Eliminate non working people
Establish effective communication and
Allow talent to create and apply
constructive challenge
Set challenging business goal
Take corrective action if necessary
Identify own talent before hiring talent
Performance based talent tool
6. Eight steps of Talent
Management Process
Organizations are made up of people:
creating value through proven business
processes, innovation, customer service, sales,
and many other important activities.
organization strives to meet its bu
must make sure that it has a continuous and
integrated process for recruiting, training,
managing, supporting, and compensating these
people. The following chart shows the complete
process:
6.1 Workforce Planning:
business plan, this process establishes workforce
plans, hiring plans, compensation budgets, and
hiring targets for the year.
6.2 Recruiting: Through an integrated process
of recruiting, assessment, evaluation, and hiring
the business brings people into t
6.3 Onboarding: The organization must train
and enable employees to become productive and
integrated into the company more quickly.
Gaurav Kumar (009)
8
Eight steps of Talent
Management Process
Organizations are made up of people: people
creating value through proven business
processes, innovation, customer service, sales,
and many other important activities. As an
organization strives to meet its business goals, it
must make sure that it has a continuous and
integrated process for recruiting, training,
managing, supporting, and compensating these
The following chart shows the complete
6.1 Workforce Planning: Integrated with the
, this process establishes workforce
plans, hiring plans, compensation budgets, and
hiring targets for the year.
Through an integrated process
of recruiting, assessment, evaluation, and hiring
the business brings people into the organization.
The organization must train
and enable employees to become productive and
integrated into the company more quickly.
Human Resource Management: Research Paper
Study of Talent Management Strategies
6.4 Performance Management:
business plan, the organization establishes
processes to measure and manage employees.
This is a complex process.
6.5 Training and Performance Support:
course this is a critically important function.
Here we provide learning and development
programs to all levels of the organization.
6.6 Succession Planning: Succession Planning
ensures a company identifies and develops talent
in order to achieve its business strategy.
Developing internal talent can be a competitive
advantage, thus leaders need to focus on all
aspects of succession planning to ensure success.
Succession planning, a very important function,
enables managers and individuals to identify the
right candidates for a position. This function also
must be aligned with the business plan
understand and meet requirements for key
positions 3-5 years out. While this is often a
process reserved for managers and executives, it
is more commonly applied across the
organization.
6.7 Compensation and Benefits:
an integral part of people management.
organizations try to tie the compensat
directly to performance management so that
compensation, incentives, and benefits align with
business goals and business execution.
6.8 Critical Skills Gap Analysis:
process we identify as an important, often
overlooked function in many
organizations. While often done on a project
basis, it can be "business-critical."
today industries like the Federal Government,
Utilities, Telecommunications, and Energy are
Human Resource Management: Research Paper
Study of Talent Management Strategies
6.4 Performance Management: by using the
, the organization establishes
and manage employees.
6.5 Training and Performance Support: of
course this is a critically important function.
Here we provide learning and development
programs to all levels of the organization.
Succession Planning
ensures a company identifies and develops talent
its business strategy.
Developing internal talent can be a competitive
, thus leaders need to focus on all
aspects of succession planning to ensure success.
Succession planning, a very important function,
enables managers and individuals to identify the
This function also
business plan to
understand and meet requirements for key
While this is often a
process reserved for managers and executives, it
is more commonly applied across the
6.7 Compensation and Benefits: clearly this is
an integral part of people management. Here
organizations try to tie the compensation plan
directly to performance management so that
compensation, incentives, and benefits align with
business goals and business execution.
6.8 Critical Skills Gap Analysis: this is a
process we identify as an important, often
industries and
While often done on a project
critical." For example,
today industries like the Federal Government,
Utilities, Telecommunications, and Energy are
facing large populations which are retiring.
do you identify the roles, individuals, and
competencies which are leaving?
you do to fill these gaps?
Talent Management" and many organizations
are going through this now.
In the center of this process are important
definitions and data: job roles
competency models, and
7. Areas of Talent
The service and consulting areas of talent
management that thus emerge are:
7.1 Talent appreciation
TA services from Grow Talent
assessing the way individuals learn, think
to others, and act. TA
capacities, competencies and values of
individuals for assessment of potential for career
development and succession planning.
This is intricately linked to helping organizations
map their capacity and competency requirements
and then assessing talent to draw up individual
development plans. The talent profiling thus done
for organizations helps them identify critical
competencies to be develope
Areas
of TM
Talent
AppreciationPotential
Enhancement
Gaurav Kumar (009)
9
facing large populations which are retiring. How
do you identify the roles, individuals, and
competencies which are leaving? What should
you do to fill these gaps? We call this "Critical
and many organizations
are going through this now.
In the center of this process are important
job roles, job descriptions,
, and learning content.
Areas of Talent Management
The service and consulting areas of talent
management that thus emerge are:
7.1 Talent appreciation
Grow Talent are focused on
assessing the way individuals learn, think, relate
is used to evaluate the
capacities, competencies and values of
individuals for assessment of potential for career
development and succession planning.
tely linked to helping organizations
map their capacity and competency requirements
and then assessing talent to draw up individual
development plans. The talent profiling thus done
for organizations helps them identify critical
competencies to be developed and capacities to
Areas
of TM
Potential
Enhancement
Acquisition
of Talent
Knowledge
Management
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 10
be enhanced in order to meet future business
requirements and achieve plans.
7.2 Potential enhancement
The focus of PEP is to create learning
experiences and solutions for individuals that will
help convert their talent into competence. It also
involves designing learning events and processes
that enhance the potential of individuals.
Two intrinsic components of Grow Talent PEP
are:
• Capacity building modules - which focus on
enhancing the four capacities of individuals
• Competence building modules - which focus
on specific areas like consulting skills,
problem solving, and service quality,
strategic selling, process designing,
interviewing skills, etc.
7.3 Acquisition of talent
Grow Talent’s approach to helping organizations
acquire talent is based on the following:
• Helping organizations define roles for
specific leadership positions based on
'preferred futures' and strategy
• Identifying the competencies required for
each of these jobs
• Determining the levels of fundamental
capacities of learning, thinking, relating and
acting needed to acquire these competencies
• Defining the values which are needed to
display the desired behaviors
• Identifying individuals who would fit into
these positions
• Enable organizations and individuals to
establish mutually acceptable contracts for
employment and lay the foundation of win-
win relationships
7.4 Knowledge Management
Knowledge management services from Grow
Talent are aimed at leveraging knowledge for
performance by creating an environment for
sharing by building trust. The focus of
knowledge management is to connect people and
technology to capture and harness the tacit
knowledge of the organization. By making trust
the bandwidth of communication, knowledge
management enhances sharing and thereby
creates an appropriate environment for talent to
translate into performance.
With its comprehensive spectrum of services for
talent management and unique methodology,
Grow Talent is strongly positioned to help
organizations gain a competitive and sustained
talent advantage.
In an organization, there is nothing more
crucial than fitting the right employee in the
right position. Or else you would be trying to fit
a square peg in a round hole. When people do
jobs that just don't suit their liking, inclination or
temperament, the results, or rather the lack of
them will be disastrously obvious. Low
productivity, dissatisfaction, low morale,
absenteeism and other negative behavior will
become typical till the employee is shown the
door. Or perhaps, there is another option – Talent
Management:
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 11
“ A conscious, deliberate approach undertaken
to attract, develop and retain people with the
aptitude and abilities to meet current and future
organizational need”
Organization need to have a vision and a well
defined strategy on hiring for the future. India
has become the outsourcing capital of the world
and this has created its own set of HR challenges.
India’s biggest problem is that qualified
graduates are becoming scarce. Despite the large
population, the supply of engineers cannot keep
up with the sharply increased demand. So, do we
have the right talent within to attract and retain
the best available talent?
8. Advantages of Talent
Management
• Having the skills and knowledge available
for emergency situations;
• Strengthening the organisation's capabilities
by developing the skills and knowledge the
organisation needs (now and in the future);
• Having back-up staff with the knowledge and
skills that will enable organization to meet its
objectives
Talent Management Helps in
Increasing
• Competitive advantage
• Employee satisfaction
• Worker productivity
• Learning effectiveness
• Service levels
Reducing
• Employee turnover
• Time to ramp new hires
9. Problems/Issues in Talent
Management
• Motivating the talent – Demotivating for
others;
• Difficulties in selecting the right people to
develop and making an accurate assessment
of their development needs;
• Costs of training, mentoring etc. that are
inherent in Talent Management Strategies
• Lack of follow through and follow up of
development initiatives;
• Potential for grooming people for positions
that may not exist in the future;
• Possibility of staff being headhunted by other
organisations for their new skills and
knowledge;
• Potential for people to lose motivation or
resign if they do not get the job they wanted
or feel 'passed over' by the organisation;
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 12
• Difficulty in keeping staff members
motivated and employed by the organisation
when they have reached the potential for a
role but one does not yet exist or has not
become vacant;
10. RECOMMENDATIONS
• Organizations must have meaningful
descriptions of the capabilities (skills,
behaviors, abilities and knowledge) required
throughout the organization.
• Organizations must be able to relate those
skills and capabilities to a role or a center of
demand, such as a job position, project or
leadership role.
• Talent management processes must create a
comprehensive profile of their talent. They
must be able to track meaningful talent
related information about all of their people -
employees, contractors, or candidates.
• The working culture of the organization
should be improved and maintained to retain
talent in long run.
• More certified training should be given to the
employee to boost their effectiveness and
efficiency. It should be used as a tool of
motivation.
• The organization should identify the crucial
talent initiative to attract and retain the
employee. They should know which talent
management elements can have the greatest
impact on the business and therefore provide
a better basis for prioritization and
implementation.
• To create a sophisticated talent management
environment, organizations must:
o Define a clear vision for talent
management
o Develop a roadmap for technology
and process integration
o Integrate and optimize processes
o Apply robust technology to enable
processes
o Prepare the workforce for changes
associated with the new Environment
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 13
11. CONCLUSION
As organizations continue to pursue high
performance and improved results through TM
practices, they are taking a holistic approach to
talent management—from attracting and
selecting wisely, to retaining and developing
leaders, to placing employees in positions of
greatest impact.
The mandate is clear: for organizations to
succeed in today’s rapidly changing and
increasingly competitive marketplace, intense
focus must be applied to aligning human capital
with corporate strategy and objectives. It starts
with recruiting and retaining talented people and
continues by sustaining the knowledge and
competencies across the entire workforce. With
rapidly changing skill sets and job requirements,
this becomes an increasingly difficult challenge
for organizations. Meeting this organizational
supply and demand requires the right “Talent
DNA” and supporting technology solutions.
By implementing an effective talent management
strategy, including integrated data, processes, and
analytics, organizations can help ensure that the
right people are in the right place at the right
time, as well as organizational readiness for the
future.
Human Resource Management: Research Paper Gaurav Kumar (009)
Study of Talent Management Strategies 14
Bibliography
Books and Journals:
1. The Talent Management Pocketbook, By Cross, Andy - 2007
2. Best Practice in Talent management: How the world’s Leading Corporations Manage, Develop and
Retain Top Talent, By Goldsmith, Marshall and Carter, Louis
3. A handbook of Human Resource Management Practice, By Armstrong, Michael
4. Talent assessment: a new strategy for talent management, By Davis, Tony and Cutt, Maggie – 2007
News Paper:
5. The Hindu, Wednesday, July 28, 2004 on Talent Management
Websites:
6. www.scribd.com/doc/19347893/Talent-Management
7. http://en.wikipedia.org/wiki/Talent_management
8. www.scribd.com/doc/26150041/Talent-Management
9. www.ajoconnor.com/HCS8_1_TM_SucessPlan.html
10. www.sirim.my/techinfo/P3/Management/July-Aug05/july-aug05_article19.pdf
11. http://jobfunctions.bnet.com/abstract.aspx?docid=378211
12. http://blogs.payscale.com/compensation/2009/02/talent-management-strategy.html
13. www.hrexecutive.com/HRE/story.jsp?storyId=98598263&query=talent%20management
14. www.hinduonnet.com/jobs/0407/2004072800100100.htm
15. www.bpir.com/succession-planning-bpir.com/menu-id-71/expert-opinion.html
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