TALENT MANAGEMENT

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

• Executing talent management strategy

• Being custodians of the talent management process

• Providing guidance and fresh thinking about talent management programs

Role of HR in Talent Management

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

CurrentCurrent

Required Job SkillsRequired Job Skills

Organizational Objectives

Organizational Objectives

Workforce Competencies

Workforce Competencies

Align Development with Needs

Align Development with Needs

Close Gaps & Monitor

Performance

Close Gaps & Monitor

Performance

Improve Critical

Competencies

Improve Critical

Competencies

FutureFuture

Required Job SkillsRequired Job Skills

Competency Gap

Competency Gap

Talent Management Process

PLAN

LEAD

ANALYZE

ADVANCE

DEVELOP

EVALUATE

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

Keepers– Those who exceed employee expectations

Solid Citizens– Meet organisational expectations

Misfits– Those who fall below organisational expectations

Identify The Employees

Measure and Monitor Talent

Self-Management

•Progress monitoring

•Self assessment

•Competencies update

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

Measure and Monitor Talent

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

Change Organisation

Culture

Managing Succession

Selecting Talent

Attracting Talent

Retaining Talent

Recognize talent

WAYS TO MANAGE 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

• Track Learning and Progression

• Quantify the Effect of Training

• Track Learning and Progression

• Quantify the Effect of Training

Measure &Monitor

Measure &Monitor

PlanPlan

• Align Workforce to Strategic Objectives

• Retain Top Talent

• Align Workforce to Strategic Objectives

• Retain Top Talent

InstructInstruct

• Provide Training

• Enable Global Learning

• Provide Training

• Enable Global Learning

Reward &Promote

Reward &Promote

• Give Suitable Compensation and Rewards

• Give Suitable Compensation and Rewards

Learning RetentionLearning Retention

Career ProgressionCareer Progression

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

THANK YOU...