TALENT MANAGEMENT UPCOMING TRENDS

& CHALLENGES

Presented By

Neha Mohan

057516

INTRODUCTION

Today HR is expected to identify potential talent and also comprehend, conceptualise and implement relevant strategies to contribute effectively to achieve organisational 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 organisation.

THE FOCUS OF TALENT MANAGEMENT

1. Capacity to learn (measured as learning quotient LQ)

2. Capacity to think (measured as conceptual quotient CQ)

To Think

Analysis

Creativity

Judgment

To Learn

Introspection

Reflection & contemplation

Flow

THE FOCUS OF TALENT MANAGEMENT

3. Capacity to relate (measured as relationship quotient RQ)

4. Capacity to act (measured as action quotient AQ)

To

Relate

Empathizing

Listening Trust

To Act

Organizing

Implementing

Work under pressure

TALENT EQUATION

The individual’s values help in discriminating amongst alternatives and act as the bedrock for decisions.

(LQ + CQ + RQ + AQ) X Values = Talent

PROBLEM IDENTIFICATION

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?

OBJECTIVES

To identify various upcoming challenges of talent management

To establish upcoming trends in talent management.

To identify the ways to retain the best talent.

NEED OF THE STUDY

The supply side puts pressure on companies to attract the best talent and ensure that employees join the company and choose to stay in the organization rather than look for opportunities elsewhere. Present study is supposed to find out the existing Indian talent scenario so as to analyze its emerging challenges and trends.

RESEARCH METHODOLOGY

PRIMARY DATA

SAMPLE SIZE : 25QUESTIONNAIRE: HR Professional http://

www.eSurveysPro.com/Survey.aspx?id=49e4bb13-faf3-424c-bdb8-b0c9d885ef60

SAMPLE SIZE : 30

QUESTIONNAIRE: EMPLOYEESfinal ppt\QUESTIONNAIRE MAJOR PROJECT Conducted By Neha Mohan - Survey powered by eSurveysPro_com.htm

RESEARCH METHODOLOGY

SECONDARY DATA– Journals and Research Paper– Newsletters– HR websites

STATISTICAL TOOLS:– Pie charts– Bar graphs– Averages

SAMPLING TECHNIQUES:– Judgmental Sampling

DATA COLLECTION

The questionnaires’ links were sent to various yahoo groups including alumni groups as well as in form of bulk messages on networking websites such as facebook and orkut.

HR PROFESSIONAL EMPLOYEES

BANKS 6

IT 11

OTHERS 8

BANKS 8

IT 11

OTHERS 11

ANALYSIS:HR PROFESSIONALS

BANKS

67%

33%

Yes

No

IT

89%

11%

Yes

No

ANALYSIS:HR PROFESSIONALS

BANKS

83%

17%

YES

NO

IT

83%

17%

YES

NO

ANALYSIS:HR PROFESSIONALS

BANKS

17%

66%

17% Bycompetences

By results

By potential

IT

33%

56%

11% Bycompetences

By results

By potential

ANALYSIS:HR PROFESSIONALS

What are the areas your organization needs to improve in terms of talent management initiatives? Aligning employees with the mission and vision of your organization 40.91% Assessing candidates skills earlier in the hiring process 50.00% Creating a culture that makes employees want to stay with the organization 40.91% Creating a culture that makes individuals want to join the organization 40.91% Creating a culture that values employees work 40.91% Creating an environment where employees are excited to come to work each day 50.00% Creating an environment where employees ideas are listened to and valued 50.00% Creating policies that encourage career growth and development opportunities 63.64% Identifying gaps in current employees and candidate competency levels 59.09% What are the areas your organization needs to improve in terms of talent management initiatives?

40.91%

ANALYSIS:HR PROFESSIONALS

In your organization who is primarily responsible for …… (tick one per statement)

No one Department head(excludes

employee supervisor)

Hr staff Internal coach(excludes

employee supervisor)

Mentor (excludes employee

supervisor)

Outside consultant

others

Recruiting individuals

0% (0) 63% (14) 63% (14) 4% (1) 4% (1) 4% (1) 4% (1)

Further developing employees

4% (1) 54% (12) 31% (7) 13% (3) 18% (4) 4% (1) 13% (3)

Retaining employees

4% (1) 63% (14) 50% (11) 9% (2) 4% (1) 9% (2) 9% (2)

ANALYSIS:HR PROFESSIONALS

BANKS

67%

33%Yes, at themanagement/executive level

No

IT

78%

22%Yes, at themanagement/executive level

No

ANALYSIS:HR PROFESSIONALS

BANKS

33%

50%

17%

Acquiring new talents

Leveraging existing talents

Retaining the currentpotential

IT

22%

45%

33%Acquiring newtalents

Leveraging existingtalents

Retaining thecurrent potential

ANALYSIS:HR PROFESSIONALS

Which broadly defined job description are the most critical in terms of attracting and retaining employees?

1 (very critical) 2 3 4 5 (not critical) 0%(0) 0%(0) 0%(0) 0%(0) 0%(0)

sales 55% (10) 33% (6) 5% (1) 5% (1) 0% (0) marketing 27% (5) 44% (8) 22% (4) 5% (1) 0% (0)

Business development 50% (10) 35% (7) 20% (4) 0% (0) 0% (0) finance 15% (3) 25% (5) 45% (9) 15% (3) 0% (0)

Field operations 5% (1) 21% (4) 36% (7) 26% (5) 10% (2) Research and development

23% (5) 38% (8) 28% (6) 4% (1) 4% (1)

innovation 25% (5) 40% (8) 25% (5) 10% (2) 0% (0) Business unit leadership 25% (5) 35% (7) 30% (6) 10% (2) 0% (0)

Senior management 38% (8) 38% (8) 19% (4) 4% (1) 0% (0) Programme management 19% (4) 23% (5) 47% (10) 9% (2) 0% (0)

ANALYSIS:HR PROFESSIONALS

18%

9%

18%

14%

9%

10%

11%

11%

Within your organization what kinds of talent development activities are carried out?

Building class room workshops

Coaching

Mentoring

Education

Developmental experience

Short terms assignments

Action learning

Others

ANALYSIS:HR PROFESSIONALS

To what extent do you agree or disagree with the following statements?

(Tick one per statement)

Strongly disagree

disagree agree Strongly agree

Aligning employees with the mission and vision of your organization

4% (1) 9% (2) 38% (8)

47% (10)

Assessing candidates skills earlier in the hiring process

9% (2) 0% (0) 76% (16)

14% (3)

Creating a culture that makes employees want to stay with the organization

5% (1) 0% (0) 35% (7)

60% (12)

Creating a culture that makes individuals want to join the organization

9% (2) 9% (2) 28% (6)

52% (11)

Creating a culture that values employees work 4% (1) 0% (0) 33% (7)

61% (13)

Creating an environment where employees are excited to come to work each day

4% (1) 9% (2) 33% (7)

52% (11)

Creating an environment where employees ideas are listened to and valued

9% (2) 4% (1) 42% (9)

42% (9)

Creating policies that encourage career growth and development opportunities

5% (1) 5% (1) 47% (9)

42% (8)

Identifying gaps in current employees and candidate competency levels

4% (1) 19% (4) 28% (6)

47% (10)

Identifying vacancies that will be created as the company advances and expands

9% (2) 14% (3) 57% (12)

19% (4)

Rewarding top performing employees 9% (2) 0% (0) 42% (9)

47% (10)

ANALYSIS:HR PROFESSIONALS

In the next three years how effective will the following elements of compensation be in terms of attracting and retaining top performers?

1(most effective) 2 3 4 5(least effective) Base pay 57% 33% 0% 9% 0%

Health care benefits 19% 42% 23% 14% 0% Retirement/education benefits 33% 33% 19% 14% 0%

Share options/equity participation

33% 14% 28% 14% 9%

Child care costs/arrangement 25% 10% 35% 30% 0% Job security 52% 19% 23% 0% 4%

ANALYSIS:HR PROFESSIONALS

Which broadly defined job description are the most critical in terms of attracting and retaining employees?

0

2

4

6

8

10

12

1 (very critical)

2 3 4 5 (not critical)

sales

marketing

Business development

ANALYSIS:HR PROFESSIONALS

BANKS

17%

83%

0%

Decrease

Increase

No change

c

IT0%

100%

0%

Decrease

Increase

No change

ANALYSIS:EMPLOYEES

Less than a year

1-2 years

2-5 years

5-10 years

More than 10 years

BANKS

25%

49%

13%

13% 0%Less than a year

1-2 years

2-5 years

5-10 years

More than 10 years

IT

37%

27%

27%

9% 0%

Less than a year

1-2 years

2-5 years

5-10 years

More than 10 years

ccc

ANALYSIS:EMPLOYEES

Not at all aware of this

Aware of this but need more information

Know and understand this

The organisation mission statement?

3% (1) 7% (2) 88% (23)

The structure of the company?

3% (1) 7% (2) 88% (23)

The aims of the company? 0% (0) 15% (4) 84% (22) Our health and safety

procedures? 3% (1) 26% (7) 69% (18)

Our equal opportunities policy?

7% (2) 15% (4) 76% (20)

Professional association membership?

19% (5) 23% (6) 57% (15)

Policy on handling any legal problems?

16% (4) 44% (11) 40% (10)

Policy on handling customer problems?

4% (1) 40% (10) 56% (14)

Staff disciplinary procedures?

4% (1) 24% (6) 72% (18)

Policy on holiday entitlement?

4% (1) 28% (7) 68% (17)

Policy on absense? 8% (2) 4% (1) 88% (22) Policy on maternity/

paternity leave? 12% (3) 16% (4) 72% (18)

Have you been made aware of the policies and procedures? Do you know and understand them?

ANALYSIS:EMPLOYEES Do you know how you can help the organisation to

achieve its aims?

Yes, I feel quite clear about this

I think so, but would like to discuss it further

No, I am not at all clear about this

BANKS

62%

25%

13%Yes, I feel quite clearabout this

I think so, but wouldlike to discuss itfurther

No, I am not at allclear about this

IT

64%

27%

9%

Yes, I feel quite clearabout this

I think so, but would l iketo discuss it further

No, I am not at all clearabout this

ANALYSIS:EMPLOYEES

Yes92%

No8%

Would you benefit from further training in any of the items specified in your job description?

BANKS

62%

38%

Yes

No

IT

82%

18%

Yes

No

ANALYSIS:EMPLOYEES

In the next three years how effective will the following elements of compensation be in terms of attracting and retaining top performers?

1(most effective) 2 3 4 5(least effective) Base pay 60% (15) 24% (6) 12% (3) 4% (1) 0% (0)

Health care benefits 24% (6) 44% (11) 24% (6) 8% (2) 0% (0) Retirement/education benefits 25% (6) 25% (6) 25% (6) 25% (6) 0% (0)

Share options/equity participation 36% (9) 32% (8) 16% (4) 12% (3) 4% (1) Child care costs/arrangement 20% (5) 28% (7) 32% (8) 16% (4) 4% (1)

Job security 44% (11) 36% (9) 8% (2) 4% (1) 8% (2)

ANALYSIS:EMPLOYEES

Please rate your satisfaction with the salary and benefits package you receive.

Extremely dissatisfied

Dissatisfied Neither satisfied nor dissatisfied

Satisfied Extremely satisfied

Medical insurance package

0% (0) 4% (1) 16% (4) 56% (14) 24% (6)

Company savings plan 8% (2) 12% (3) 33% (8) 37% (9) 8% (2) Retirement plan 4% (1) 8% (2) 50% (12) 33% (8) 4% (1)

Holiday Entitlement 4% (1) 12% (3) 25% (6) 41% (10) 16% (4) Job market

competitiveness of my salary

8% (2) 12% (3) 20% (5) 48% (12) 12% (3)

Share option plan 4% (1) 21% (5) 39% (9) 26% (6) 8% (2)

ANALYSIS:EMPLOYEES

36%

64%

Overall, how satisfied are you with your company's personnel policies?

Extremely Dissatisfied

Very Dissatisfied

Neither Satisfied nor Dissatisfied

Very Satisfied

Extremely Satisfied

BANKS

0% 13%

37%

25%

25%ExtremelyDissatisfiedVery Dissatisfied

Neither Satisfied norDissatisfiedVery Satisfied

Extremely Satisfied

IT

0%18%

46%

27%

9%Extremely Dissatisfied

Very Dissatisfied

Neither Satisfied norDissatisfied

Very Satisfied

Extremely Satisfied

ANALYSIS:EMPLOYEES

8%4%

4%

52%

32%

Overall, how satisfied are you with this company as a place to work compared to other places you have worked?

Extremely dissatisfied

Dissatisfied

Neither satisfied nor dissatisfied

Satisfied

Extremely satisfied

BANKS

11%0%

56%

33%

0% Extremely dissatisfied

Dissatisfied

Neither satisfied nordissatisfied

Satisfied

Extremely satisfied

IT

0%0% 18%

73%

9%

Extremelydissatisfied

Dissatisfied

Neither satisfiednor dissatisfied

Satisfied

Extremely satisfied

FINDINGS:BANKS

HR PROFESSIONALS EMPLOYEES

Only 67% of the banks has TM initiatives

62% are clear about their role for achieving organizational goal

Although 83% of the banks give it top priority

62% feel the necessity of training

67% of the banks has exclusive post for TM

Only 25% are very satisfied with companies’ personnel policies

50% of the banks believes in managing their current talent level

52% are neither satisfied nor dissatisfied with their organization

83% of the managers feel that TM budget is going to increase in coming years

33% are satisfied with their organization

FINDINGS:IT

HR PROFESSIONALS EMPLOYEES

89% organization has TM initiatives

64% are clear about their role for achieving organizational goal

83% organizations give it top priority

82% feel the necessity of training

Most companies (52%) identify talent by results

Only 27% are very satisfied with companies’ personnel policies

78% have exclusive post for talent management

46% are neither satisfied nor dissatisfied with their organization

45% believes in leveraging current talent

18% are neither satisfied nor dissatisfied with organization

In all organizations TM budget is going to increase

73% are satisfied with their organization

FINDINGS : HR MANAGERS

Most of the covered companies have talent specific initiative in place (81%) and they give them top priority in their organization (86%).They also have exclusive staff member for managing talent initiatives (68%)

In most of the companies the talent is identified by competencies (42%) and the HR professional view to increase career growth opportunity.

HR staffs as well as the department heads are responsible for recruiting individuals (64%)

Retaining the current talent is top priority for the organization(38%) Sales and business development are the two areas where retaining

talent is most difficult Class room workshop, mentoring and coaching are usually used by

the organization to carry out talent development activities.

FINDINGS : HR MANAGERS

More than 60% of the respondent view organizational culture as a main driving force for the new talent and for the existing talent. Even rewarding plays a important role (48%)

Base pay (57%) and Job security (52%) are the two main areas for retaining talent in coming years. Other than this, training plays an important role in motivating the employee.

Organizations are using certification for improving the training programs.

In more than 90% of the organizations budget for recruiting developing and retaining employees is going to increase over the next three years

FINDINGS:EMPLOYEES

Most the employees have a clear knowledge about the company’s vision, mission and objectives. And they know how to achieve these objectives (76%)

They are clear about their role and responsibility (85%) and they know about other staff members also.

Most of the respondent are satisfied by job description, salary review, health care benefits etc.

Base pay (60%) and Job security (44%) are in top priority for the employees in coming years.

Apart from financial benefits, employee emphasis more on career growth, work culture and international opportunities.

91% of the employees want more training in their specified job.

The employees have a mix response on benefits like Medical insurance package, Company savings plan, Retirement plan, Holiday Entitlement, Job market etc.

64% of the employees are satisfied with the company's personnel policies where as 36% are neither satisfied nor dissatisfied

Overall 32 % employee are extremely satisfied where as 52% are just satisfied with their organization.

FINDINGS:EMPLOYEES

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.

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.

RECOMMENDATIONS

More certified training should be given to the employee to boost their effectiveness and efficiency. It should be used as a tool of motivation.

To create a sophisticated talent management environment, organizations must:

– Define a clear vision for talent management– Develop a roadmap for technology and process integration– Integrate and optimize processes– Apply robust technology to enable processes– Prepare the workforce for changes associated with the new

environment

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.

RESPONSE DETAILS

UMANG SRIVASTAVA HCL INFOSYSTEMS LTD

PRASHANT SINGH THE NIELSEN COMPANY PREETI SRIVASTAVA ARMACELL INDIA PVT.LTD.

KUNAL SHARMA ABN AMRO BANK TANUPRIYA HDFC BANK LTD

POONAM NOTANI INFOSYS TECHNOLOGY

ACHINT SARAN BHATNAGAR

SATYAM COMPUTER SERVICES LTD

DEEPESH KUMAR ACNIELSEN

TARUN KUMAR SRIVASTAVA INFOSYS TECHNOLOGIES LIMITED

SUPRIYA MANOCHA

AMERICAN EXPRESS SERVICES INDIA LIMITED

V. ALAKH PRASAD MATRIX SERVICES PVT. LTD.

GAURAV SRIVASTAVA IBM INDIA PVT. LTD.

SUNIL KUMAR CUMMINS INDIA LTD.

AMAL HCL TECHNOLOGIES NANDITA SHARMA FISERV INDIA PVT INDIA LTD

SASHWATA ROY EDELWEISS CAPITAL

AMAL SINHA AMERICAN EXPRESS MAHIMA SINHA ABN AMRO (ACES)

ABHILASH R HP GLOBALSOFT LTD KANUPRIYA PRASHANT HDFC LTD

UTKARSH SRIVASTAV HCL TECHNOLOGIES

DEEPTI TIWARI HCL TECHNOLOGIES ARVIND JADAUN MECHELONIC ENGG P LTD

PUNEET PADAM V COUSTUMER CARE LTD.

ASH PARAMOUNT AIRWAYS

SHILPI MITTAL HCL

DR. PARUL RISHI

INDIAN INSTITUTE OF FOREST MANAGEMENT

DEEPAK JHAKAL HCL