research paper on 4t approach
DESCRIPTION
fazoolTRANSCRIPT
Integrating 4 Ts for Effective Management of Talented Employees: A Conceptual
Framework
Dr. Pooja Mehta1, Ms. Deepali Soni2
1 Assistant Professor, Punjab Technical University, Kapurthala ([email protected])
Mobile No. 94780-98057
2 Research Scholar, Punjab Technical University, Kapurthala
([email protected]) Mobile No. 9050041571
Abstract
In today’s global era, talented employees are neither fewer nor in scarce. But, the real challenge
is to identify them and manage them effectively. The most valuable asset of any institution,
business or non business, are its talent workers. Talented workers are the key source of
competitive advantage and do phenomenal performance, only if they are managed well. Human
resource managers have to understand their needs & expectations and retain them for longer
period of time for future growth of the organization. The present study is based on a thorough
literature review conducted by carefully studying research articles published in journals of
repute. This paper attempts to focus on the problems and prospects of managing the talented
employees as well as retaining them in the organization. For this purpose the study has suggested
4T integrated approach for managing talented workers in the organizations effectively. These
4Ts include talent engagement, talent promotion, talent management and talent retention. All
these aspects are interrelated to each other and have common objective to give priority to the
core talent of the organizations because it is only talented employees which respond to any
internal as well as external change derived by knowledge and technology. This particular
approach tries to catch attraction towards motivating, retaining and utilizing the talents in
organization for value addition through four Ts of Talent Management namely: Talent
engagement, Talent promotion, Talent management and Talent retention.
Keywords: Talent, talent retention, talent engagement, talent promotion, talent management.
Introduction:
Talented employees are the intrinsic gift for the organization. Talent can be defined as
sum total of ability person has for organization’s growth in terms of their skills,
knowledge, experience , intelligence, judgment, attitude, character, drive ability to learn
and grow with the organization. Talented employees are cerebral for the organization so
management of talented employees is one of the major responsibilities of organization.
They demonstrate exceptional ability and achievement over a range of activities and have
transferable high competence.Organizations operating in dyanamic environment faces
complexity which can be dealt by these high impact personnel( (Abbey, 2003)). This led
to the realization of strategic importance of talent management in maximizing
productivity and efficiency in the organization for longer period of time.
World War II led to the derivation of the concept of talent management (Cappelli, 2008).
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 to success. Companies develop plans and processes to track and manage their
employee talent through various organizational practices i.e. attracting and recruiting
qualified candidates with competitive backgrounds, managing and defining competitive
salaries, providing Training and development opportunities, Performance management
processes, Retention programs and Promotion results in to value addition to the
organizations.
Talent management system (TMS) is a strategic approach adopted by so many
organization to manage their employee talent for longer period of time.TMS includes a
range of activities the organization practices which includes dimensions like attracting
and recruiting potential candidates with strong competitive background ,providing
competent salary package, delivering healthy working environment ,providing adequate
training and development opportunities, implementing fair Performance appraisal system
to manage employee’s performance management, retention programmes, engagement
activities and providing reasonable promotion platform for grooming career of talented
employees within the organization by creating talent pipeline and reducing dependency
on outside talent. After scrutinizing all the dimension of talent management this paper
emphasizes on developing conceptual framework concluding that there are four main
aspect on which organization has to focus these main aspects are talent engagement
,talent retention, talent promotion and talent management. This Paper represents 4 T
approach of TMS for increasing organizational effectiveness and efficiency.
Review of Literature:
Aiza Hussai Rana and Abdus Sattar Abbasi[2013] in their study “Impact of talent
management and employee turnover on organizational efficiency on telecommunication sector
of Pakistan ”have observed that effectual talent management has prospective scope to reduce
employee turnover and can improve organizational efficiency. Employee turnover is correlated
to organizational efficiency. Talent management has meaningful impact on employee turnover
and organizational efficiency. They have also found that variable like gender, age, education,
experience also influence employee turnover intention and implementation of TMS. They
suggested that corporate cream of the crop call for more vigilant and conscious about practices
that retain best talent.
Peter Cappelli[2008] in his research considered talent management analogous to creating talent
pipeline preparing talent for next higher position and this is very important step towards
organizational efficiency. They said that if there is any vacancy in organization it should be filled
with internal talent instead of outside talent. He suggested that organization should try to attach
talented employees with them by giving them exigent work assignment to engage them
increasing their commitment to the organization.
Munammad Imran Haniff and Shao Yunfei[2013] in their published research paper entitled”
the role of talent management and HR generic strategies for talent retention” has examined
through applying qualitative as well as quantitative technique that It can be concluded on the
recommendations and findings of the above research that the input for retention factors are best
salary packages in industry , potential development with desired KSA, higher motivation level ,
training and development, satisfaction of employees , retirement benefits, fair performance
appraisal system , trust and integrity, personal relationship with supervisor. They suggested that
talent management practices play integral role in keeping the talent intact with the organization
along with all other HR practices. The force of talent management strategies has notable
possessions on output, efficiency and productivity of both organization and employees.
Morton (2005) said that talent management is fundamental key to engage employees in
organization. Effectual talent management helps organizations to achieve the objective of
retaining talented employees .He realized that there are various issues on which organization
have to keep their focus e.g. attracting and retaining new talent, level of job satisfaction, salary
,organizational climate ,job stress, facilities provided ,work life balance ,management attitude
tinted by employers from different managers rationing in different public and private sector
organizations.
Dr. Muhamamd Aslam Khan, Schehar Bano, Qazi Habib Ur Rehman and Asad Afzal
Humayoun have recognized schematized talent management as a core business issue.They
studied various factor impact on talent management. They revealed that talent management helps
organization to keep their talented employees engaged to increase productivity as various
research proved that employee engagement enhances loyalty and productivity of organizations.
Management at all level must be reorganized with the energy of talent management practices this
helps an organization to recognize and keep spotlight on new competitive state of affairs. They
recognized the importance of accompanying pay with social recognition or adding value by
providing timely feedback, training if required, boosting their morale; motivate them as
employees wish for motivation on continuity. Leaving of employees from organization within
short span of time was found surely challenging for organizations. Implementing Talent
management strategies for sorting out turnover problem have many supplies. Manager should
work upon the solution for the main reason for this turnover of employees realizing the value
of running their core talent, and have implemented practices which encourage the talent
management as the main concern because of enhancements in knowledge based economic
society. Researchers highlighted the consequences of talent management and suggested various
strategies to ensure the retention of key talent, employee engagement and value addition.
Deepti Sinha and Sachin Sinha[2008] have made research on talent retention in academics area
and found out that teachers are the mediator of institute for students and if they are changed in
every semester then it reflect negative image of organization and create big empty space in the
mind of the students. Teaching profession is the most important professionals its social value in
causative towards betterment of society is large so retaining best professional with a high quality
by ensuring good environmental condition for growth making them fully effective is need of an
hour especially for management institutes. In this way various talent management strategies must
be implemented in the organization.
R. V. Dhanalakshmi and Dr K BalanagaGurunathan[2014] in their study “Talent
management as a strategy to influence employee engagement and its effect on the organizational
outcome” found out that there is a strong correlation of talented employees performance with
talent management practices considering various organizational variables like turnover,
satisfaction, individual employee performance and value of the organization and employee
engagement is one of the most important outcome of talent management practices for higher
employee amount produced and customer engagement levels, as well as revenue growth.
Implementation of talent management system:
In current years, Implementation of Talent Management System has turn out to be precedence
for organizations. This is by reason of dearth of talented staff. In 2011, it was observed that
despite the high rate of joblessness as a result of the economic depression ‘more than 52% of
employers believed that competition for talent was even greater as the pool of obtainable talent
to hire fell sharply in 2010 by 41% and in 2009: 20%’ (Cannon and McGee, 2011).Three-
quarters of the employers surveyed by the CIPD decided that development of high-potential
employees is one of their organization’s main objectives, while 61% refer to cultivation of
future senior managers and leaders as another objective (CIPD, 2009). There is a general belief
that globalization and the expansion of knowledge economies are foremost to a shortage of talent
(Ford at al., 2010). The present working managers and business leaders has not augmented in the
past planning to lead to a make strategies to recruit and retain the best talent. Today’s personnel
is more movable as compared to the long-ago (Ford at al., 2010). This aspect has placed pressure
on employer to have TMS in the organization. Many experts fall out that talent development will
characterize organizational success for the future, and in the current surroundings, which is
wrought by the recent economic slump talented employees, can create a difference.
Drivers of TMS:
Talent is a swiftly mounting source of value addition to the organization.
The context of doing business is more dynamic and complex.
Organization and markets both are expecting more and more.
Evolution of employee’s demographics making Organizations to face “war for
talent” these days.
Employee expectations are also changing.
Implementation of talent management lies on the following heads:
Ensure the improvement of the skills organization requirements.
Address the skill dearth’s for future condition.
Increases organizational performance and ensures a competitive advantage.
TMS is a prime factor in attracting and retaining talented individuals.
Brings innovation to the organization.
Helps in creating sustainable development in the organization.
Helps in getting right data.
Maintain employee engagement culture enhancing commitment towards the organization.
Builds talent pipeline.
Conceptual Framework of TMS as 4T Approach:
Relationship of talent Management with engagement towards organizational efficiency:
It has been observed that higher level of employee engagement results in to longer time retention
of employees in the organization as a result, Engagement has a considerable sway on
organization and employee productivity and talent retention. Employee Engagement and Talent
Management if united can construct or shatter the bottom line (Lockwood, 2006).Regarding the
study done by the Corporate Leadership Council (Driving Performance and Retention through
Employee Engagement, 2004), employees who are devoted perform 20% better and are 87% less
likely to leave. The process of construction of Employee Engagement organization work culture
is continuing fostering culture of encouragement, expansion and knowledge, hold up,
contribution and recognition (Lockwood).these all require participatory working environment
which comes along with work experiences (Lockwood 2006). Even though monetary benefits
possibly will attract employees, studies showed realization of importance of workforce
engagement as a aspect more than satisfaction and satisfied employees remain happy with
monetary benefits and atmosphere of organization. This gratification may perhaps cause
dithering to show any extra achievement; thus, it creates a workforce who is at ease with the
present state of affairs.
TALENT ENGAGEMENT (T1)
TALENT PROMOTION (T2)
TALENT RETENTION (T3)
TALENT MANAGEMENT
SYSTEM (TMS) TALENT MANAGEMENT (T4)
Organizational efficiency
On the other hand, engaged workforce make evident standing qualities like:
1. Innovation & creativity
2. Taking individual responsibility to make things happen in favor of dynamic condition of
economy.
3. Authentic aspiration to make the organization flourishing as well as the lineup.
4. Having an emotional tie to the Organization and its strategic plan.
Employee engagement has a collision with the efficiency of the four key talent management
processes of talent development, talented employee performance Management, Talent
Recruitment and Promotion of talent.
Talented employee Performance Management and Engagement
According to the Institute of Employment Studies (IES), there is a apparent positive relationship
between those who have made contribution to their job in an appraisal and those that show
evidence of higher levels of engagement. This appraisal process let the employee know their
training needs and development gaps and organization work for the formulating and
implementing developmental strategies sincerely. Their development is being taken seriously.
The secret of an effective performance appraisal for particularly talented employee are a
unambiguous set of position-specific attribute dimensions.
Talent Development and Engagement
To a great extent many indicators of sound leadership and personnel management used in 360
reviews and those established Engagement Diagnostics. For example, 360 reviews importune
input from direct reports (in general on capabilities such as maximization of potential and
communication) providing a grade for that manager against these capabilities.
Recruitment & Selection and Engagement
The IES study confirmed that where a realistic job foretaste is provided to candidates, those who
Afterward coupled with the organization had higher level of engagement. In terms of recruitment
processes of the organization, to which extent organization make use of assessment centers to
locate clear anticipations as to the nature and requirements of the position – certainly not just a
job position description.
Talent promotion and Engagement
The IES study noticed that those who have a individual development plan for talented staff show
signs of higher engagement level in progression of employees to higher position removing the
dependency on outside talent. Exceptionally over and over again a perceived lack of
opportunities or career paths leads to dissatisfaction with the employer. Realistic career planning
sustain helps in putting up into the hands of the employee chances to grow and develop, pick up
new skills and knowledge. In work group people are assigned tasks that let them use their best
skills.
Talent Management with engagement towards organizational efficiency:
Employees can be engaged in challenging task through emotional and cognitive drive. Emotional
drivers of employees towards organization helps in building healthy work relation to other
employees and Cognitive drivers of employees make employee aware of their mission and role
in their working environment. Drafle and Kossen (2002) found that employees rate having
opportunities to learn and grow at work as one of the most important factors for employee
satisfaction, retention & engagement. Research by Butler and Waldrop (1999) indicated that the
top factors for Employee Engagement are: challenging work assignment, career progression,
relationship with other; and supportive Management. In conclusion, research undertaken by other
researchers like Buckingham and Coffman (1999) and Lawler (1996) which showed that
effective Organizations are those that empower and engage their talented workforce, build
working group in the organization , and develop human proficiency at all levels.
There is an escalating body of convincing research that has associated various talent
management and employee engagement practices with bottom line results. Hunter et al. (1990)
acknowledged that good leadership quality has been found to account remarkably an
Organization’s performance Engagement has been related with a number of important
Organizational outcomes that are directly related to talent Management such as making easy
practices of recruitment, retention and employee turnover. Other important Organizational
outcomes associated with increased levels of employee engagement with talent management
system comprises of higher level of employee performance and productivity and customer
engagement levels with revenue growth.
Relationship of talent Management with promotion or progression towards organizational
efficiency:
Senior manager often face the dilemma regarding which is better approach promote from within
or hire externally ?but research shows it is better to promote within assuming the leadership
involved in creating talent pipeline can supply the right talent in the right roles at the right times.
All these cannot be done at ease there is strong demand of an hour that companies need to
prevent the departure of high potentials and carefully groom them for future higher position
.Every organization should have a strategic, thoughtful succession plan, ensuring it has trained,
experienced talented employee ready to move up when high-level positions become available.
Many organizations equate the concept of talent management with talent promotion &
succession management believing that TMS must take in far broader portion of the employee
population. The ability of an organization to contend depends upon the performance of all its key
talent, and its ability to develop and promote that talent (making talent pipeline).
Talent Management with talent promotion towards organizational efficiency:
Available talented employees can be promoted within the organization by managing effective
TMS. It helps in creating talented employees for next higher position cutting the cost occurring
in hiring outside Talent. Studies made by Matthew Bidwell reveal that employer are not realizing
that how much more they were paying to bring in workers from the outside. In fact, after
scrutinizing seven years of employee data, from 2003-2009, from the U.S. investment banking
unit of a financial services firm, which included information on 5,300 employees in multiple
jobs, from traders and research analysts to support staff Bidwell found that not only do external
hires get paid more, but for their first two years on the job, they receive significantly lower
marks in performance reviews. External hires are also much more likely to get laid off than are
those promoted from within. Employees remain encouraged when they get the opportunity to
grow with the organization with passage of time. Talent promotion give rise to talent retention
and result in to increase productivity and performance of organization. Study made by Neetha
Mary Avanesh[2011] on IT Sector identified the outcome of promotion of talent in the
organization in terms of improve talent retention, satisfaction, better image of business increase
competence Level, widening market share ,new business expansion, better ROI improving
organizational efficiency.
Relationship of talent Management with Retention towards organizational efficiency:
Study made on Accenture [2001] found that organization strategy regarding retention of
employees mainly start from US, Europe, Asia than Australia. Retention is considered to be
cornerstone for organizational efficiency and divided in to social, mental or physical facet. Social
facet can be made by engaging employees in group task providing them platform to develop
relationship with others internally as well as externally. Mental Facet includes the satisfaction
regarding job position characteristics i.e. flexible work hours, challenging work assignment
where talented employee can use their knowledge and improving their as well as organizational
performance and physical facet can be satisfied by workplace condition and fair compensation
policy. But mainly two category of factors are considered to have more influence on retention are
organizational factor that are Management support, organizational justice, employer image,
working environment and human resource factor are employee value match with organization’s
value , training & development platform , fair remuneration & recognition , job security and
career advancement opportunity and promotion aspect. By observing these entire factor TMS is
best suited to retain talent in the organization integrating engagement, promotion and retention at
their core giving rise to develop 4 T approaches of TMS.
Talent Management with talent retention towards organizational efficiency:
Talent retention is always good for employee as well as employer .As it boosts motivation level,
satisfaction, loyalty towards organization o the part of employee and on the part of employer
contains cut cost, improving image, increasing productivity. This made retention strategies an
important deliberate aspect for the organization. Talent management strategies help in achieving
a considerable retention in the organization.
Strategies to implement 4 T Approach of TMS:
Starts TMS with the business strategy: TMS should support the strategy of organization .Start
by looking at the drivers of organization —is it sales? Research and development ?
Manufacturing? Create a sustained talent pipeline in those parts of the business? Next, identify
key player to assure that developing and promoting talent for higher roles that have noteworthy
impact on the organization's ability to achieve short- and long-term results. To assure that the
strength lies in talented employee meets the organization’s needs. Base the talent pipelines on
where the business is currently and also prepare for future scenarios.
Hire not only for now but for the future also: Many business leaders said "What we got here,
won't get there”. Looking at present talent pool is not enough but need to look at hiring practices.
Managers should know clearly that what types of skills and abilities need and hire to those at all
levels in the organization. People don’t suddenly develop the potential to lead. Talent should be
assessed not just on current needs but on future potential. Talent and the organizational needs for
talent should be reevaluated regularly.
Identify, develop, and promote “high-potential” talent: Talented employees in present job
cannot be considered talented for next higher level. TMS identify the difference. Talented
employees have the capability to keep on larger, more complex levels of responsibility and often
do it promptly. Talented employees are often insatiable learners. They take on new tasks and are
able to master them quickly. In addition to this, they are engaged on an emotional and rational
level with the organization. They aspire to rise into and succeed in more senior, critical positions.
They want to be leaders and considered as promotable talent. If in any organization senior
executives can’t name at least three talented employees then it is considered to be an inefficient
TMS.
Apply assessment tools at all level in the organization:
Competency Assessment
Performance Appraisal
Potential Forecast
Succession Planning
Career Planninng.
Targeting organizational culture as an important driver of TMS Approach.
Secure management’s commitment to make the talent management model work.
Evaluate the results of talent management system on a regular basis.
Discussion and conclusion:
Given the high level of importance to the concept of talent management over the past decade, it
is to some extent inconsistent that it remains relatively poorly defined and implemented in the
organization. After extensive review of literature it is right to state TMS is a key driver of an
organizational success and efficiency and to play business leaders role effectively one cannot
ignore the result of TMS towards organizational efficiency. The contribution of this paper is
many fold; to develop insight regarding already talent management system ,to depict
relationship of various HR practices like retention ,engagement, promotion with talent
management system and to develop conceptual framework of TMS as 4 T Approach in order to
increase organizational efficiency through enhancing morale, satisfaction, lower employee
turnover ,more productivity. The paper aims to aid future research in the area of talent
management system though helping to clarify the conceptual framework of talent management
and mentioning all four inseparable business practices engagement, promotion ,retention and
management of talented employees.
References:
Abbey, A. R. (2003). Managing Talented People. Momentum Wcze (June 30, 2003).
Aiza Hussain Rana, A. S. (2013). IMPACT OF TALENT MANAGEMENT AND EMPLOYEE TURNOVER
INTENTION ON ORGANIZATIONAL EFFICIENCY- A CASE OF TELECOMMUNICATION SECTOR OF PAKISTAN.
Science International , 665-660.
Bentley, S. (2013). An Introduction to Talent Management.
Cappelli, P. (2008). Talent on Demand: Managing Talent in an Age of Uncertainty. Wiley online library.
Deepti Sinha, S. S. (2008). RESEARCH PAPER ON TALENT RETENTION IN ACADEMICS:. MANAGEMENT
TODAY , 1-5.
Dr. Mita Mehta, A. K. (2014). Review Paper – Study on Employee Retention and Commitment.
International Journal of Advance Research in , 154-164.
Irshad, M. (n.d.). FACTORS AFFECTING EMPLOYEE RETENTION:EVIDENCE FROM LITERATURE REVIEW.
Abasyn Journal of Social Sciences , 84-102.
James A. Cannon, R. M. (2011). Talent Management and Succession Planning. Chartered Institute of
Personnel and Development.
R. V. Dhanalakshmi, D. K. (2014). A STUDY ON “TALENT MANAGEMENT AS A STRATEGY TO INFLUENCE
EMPLOYEE. IJBARR , 183-186.