talent management strategies

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: [email protected]

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



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



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?



� 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.



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



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!



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



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



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



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



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.



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



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



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:



“ 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;



• 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



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.



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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