Karthika Nair (84)Karishma Sharma (100)

Bhavana Bhat (63)Bhavna Sajnani (117)Sneha Khushoo (103)

Sneha Shet (106)

INDEX

SERIAL NO. TOPICS PAGE NO.

1. DEFINING TALENT MAGEMENT

2

2. NEED FOR TALENT MANAGEMENT

9

3. STRATEGIES FOR TALENT MANAGEMENT

12

4. NEED FOR SURVEYS 18

5. TALENT MANAGEMENT ACTIVITIES

22

6. ANALYSIS OF COLLECTED DATA

24

7. ACKNOWLEGDEMENTS 29

1

DEFINING TALENT MANAGEMENT

WHAT IS TALENT?

Talent in general terms refers to the capabilities, skills or the art, a person possess in a particular

field. It also refers to those people who have high potential, scarce knowledge and skill or

who can successfully bring about transformation and change in the organization. Such

individuals are usually sought after in the market and their contributions to the business add direct value to

its strategic or competitive positioning

WHAT IS TALENT MANGEMENT?

Talent management can be defined as attracting and integrating highly skilled workers and

developing and retaining existing workers.

It is knowing:

where talent is now and in the future

what skills and experience that talent will need

what talent you currently have, where it is and how good it is

how you can best develop that talent to meet future needs.

Talent management is essentially making sure you have the right person in the right place at the right time

Brief History:

The origins of Talent Management can be traced to the 1990s with the realization of the

immense value of the Human Asset for organizational success surpassing every other

resource. Today it is a very widely used terminology with Google returning about 26,300,000

results. Many companies commit the mistake of putting a herculean effort in attracting the

best employees but fritter away this valuable resource by not making any effort to develop

or retain them. Companies have initially thought of talent management as a means to solve

high employee turnover. In course of time it has become part and parcel of the corporate

strategy itself with a key responsibility placed on the line managers. One cannot wish away

the fact that these managers have to play a pivotal role in nurturing the talents and skills

2

of those reporting to them. In other words, it is a case of joint trusteeship between the line and

staff functions. However, in Indian Companies, talent management is of fairly recent origin

Scope of Talent Management:

In the recent days, the HR Department of any organisation is vested with the responsibility of

managing the Talent in addition to its conventional function of providing good human capital

to an organization. In order to perform this function, they use the following methods viz.

1. Identifying the Talent which is required

2. Right Selection of the Talent

3. Implementing competitive compensation plans

4. Training and continual development of Competencies

5. Practicing state-of-the–art performance appraisal systems

6. Aligning the acquired Talent

7. Developing and nurturing the Talent, and

8. Retaining the Talent 

The scope of Talent Management is quite wide and adopts an integrative approach to the

functions mentioned above. The purpose is to have a synergistic effect between the various

activities so as to ensure a maxi-maxi effect.

Consequences of failure in Managing Talent:

Organizations have to face the following problems, if they fail to manage talent.

Loss of key leaders - sometimes not finding even an approximate replacement. 

Repeated turnover of key persons from an organization will affect the very Work

culture within the organization.

Poor performance affecting targets and productivity.

Financial crisis

3

Tools for Managing Talent:

In this process, the HR Manager has to execute 2 types of functions1. To find leaders who

will take the organization from where it is today to the next step forward – In other words, to

commanding heights of excellence.2.To put in place the existing staff in such activities

which helps in retaining and developing them. Keeping in view the budgetary constraints and

the organization size where he had to manage, few of the following tools can be used

in retaining talent.

1. Timely performance appraisals with suitable rewards and recognitions.

2. Creating an environment for staff to pursue higher education.

3. Mentoring of staff in some special and important cases in terms of attitudes,

outlook, mindset etc.

4.Providing On –the- job training for certain categories of employees, organize

development programs for executives in-house or sponsor and encourage staff to

attend workshops and seminars.

5. Implement job rotation and job enrichment wherever possible, so that staff can

become experts in multi tasking and assume higher responsibilities.

Finally to conclude the future of organizations depends on how the whole organization and

not just HR anticipates and reacts to changes in this era of talent shortages. They have a long

way to go to lead organizations implement far reaching changes and bringing about

transformation among the members of the organization. Talent Management is a continuous

process.

Talent Management in an Organisation, it refers to those special steps an organization adopts

to recruit, develop and retain its pool of top talent. The steps adopted should normally be

creative and should not project bureaucracy. Talent Management also denotes a deliberate

4

approach taken up by an organization to attract, develop and retain people with the aptitude

and abilities to meet not only the current requirements but also future organizational needs.

In today’s talent-hungry market scenario, one of the greatest challenges that organizations are

facing is to successfully attract, assess, train and retain talented employees. Talent

Management encompasses in itself the entire process of Planning, Recruiting,

Developing, Managing, and Compensating employees throughout

the organization. Organizations have realized the need for talent management and are now

focusing to develop and retain the existing talent in their organization rather than trying to

acquire a new talent because the cost of identifying, developing and retaining the talent

internally is more cost effective instead of replacing the talent which is lost from external

market. Though it may appear initially that in the process of retaining talent, we are spending

more in terms of increased wages, rewards and recognition, when we practically analyze,

the cost of acquiring a new talent is higher. Apart from higher cost of acquiring the new talent

it has to additionally face the initial hiccups of this new employee getting along with

the organizational goals and strategies.

 Every business unit is making sure that they can respond and withstand the challenges of

talent crisis by developing an effective talent management strategy like identifying the

key talented people in the organization, cultivating and developing the skill of their present

workforce and retaining highly talented employees by protecting them from competitors

Talent management is a useful term when it describes an organization's commitment to hire,

manage and retain talented employees. It comprises all of the work processes and systems

that are related to retaining and developing a superior workforce.

What appears to differentiate talent management from organizations that use terminology

such as human capital management or performance management, is their focus on the

manager's role, as opposed to reliance on Human Resources, for the life cycle of an employee

within an organization.

Talent management does give managers a significant role and responsibility in the

recruitment process and in the ongoing development of and retention of superior employees.

5

In some organizations, only top potential employees are included in the talent management

system. In other companies, every employee is included in the process.

It also involves the sharing of information about talented employees and their potential career

paths across the organization. This enables various departments to identify available talent

when opportunities are made or arise.

Opportunities and risks:

There are numerous advantages of introducing the program, but it’s worth noting that there

are also certain risks, as well as necessary conditions which should be ensured before the

implementation process. The organization has to be mature and determined to undergo

change, because after the program is implemented “nothing is as it used to”. It must be

understood that the organization’s culture will be transformed permanently; promotion

processes will be based on clear and transparent criteria as well as open communication.

Valuable employees will need to be identified, which brings the risk of division between the

“better” people (Talents) and “worse” employees (remaining members of the organization).

Increased promotion expectations in the selected participants, disappointment and decreased

motivation in those who failed to qualify or were eliminated during the revision process, lack

of consistency in implementation, resistance of the managerial staff – being aware of these

risks allows to effectively prepare for the process.

First of all, the chance for promotion among the people qualified as talents (HiPo) must be

realistic. AstraZeneca calculated a ratio based on the natural staff turnover as well as the

company’s growth plans. This helped to define the optimum number of participants in the

program, so that over the next 3 years every participant would be offered concrete

development opportunities through position change.

Clear and efficient communication, as well as proper preparation of the managerial staff was

vital in the implementation process.

Benefits of having an effective talent management program are:

Right Person in the right Job: Through a proper ascertainment of people skills and

strengths, people decisions gain a strategic agenda. The skill or competency mapping

allows you to take stock of skill inventories lying with the organization. This is

6

especially important both from the perspective of the organization as well as the

employee because the right person is deployed in the right position and employee

productivity is increased. Also since there is a better alignment between an

individual’s interests and his job profile the job satisfaction is increased.

Retaining the top talent: Despite changes in the global economy, attrition remains a

major concern of organizations. Retaining top talent is important to leadership and

growth in the marketplace. Organisations that fail to retain their top talent are at the

risk of losing out to competitors. The focus is now on charting employee retention

programs and strategies to recruit, develop, retain and engage quality people.

Employee growth in a career has to be taken care of, while succession planning is

being performed those who are on the radar need to be kept in loop so that they know

their performance is being rewarded.

Better Hiring: The quality of an organization is the quality of workforce it possesses.

The best way to have talent at the top is have talent at the bottom. No wonder then

talent management programs and trainings, hiring assessments have become an

integral aspect of HR processes nowadays.

Understanding Employees Better: Employee assessments give deep insights to the

management about their employees. Their development needs, career aspirations,

strengths and weaknesses, abilities, likes and dislikes. It is easier therefore to

determine what motivates whom and this helps a lot Job enrichment process.

Better professional development decisions: When an organization gets to know who

its high potential is, it becomes easier to invest in their professional development.

Since development calls for investment decisions towards learning, training and

development of the individual either for growth, succession planning, performance

management etc, an organization remains bothered where to make this investment and

talent management just make this easier for them.

Apart from this having a strong talent management culture also determines how

organization rate their organizations as work places. In addition if employees are positive

about the talent management practices of the organization, they are more likely to have

confidence in the future of their organization. The resultant is a workforce that is more

committed and engaged determined to outperform their competitors and ensure a leadership

position in the market for their organization.

7

Apart from the above there are other advantages like:

Makes recruiting process more efficient and effective by using "competency based"

recruiting instead of sorting through resumes, one at a time.

Better develops managers and leaders to reinforce culture, instil values, and Create a

sustainable "leadership pipeline".

Helps to quickly identify competency gaps so as to deliver training, e-learning, or

development programs to fill these gaps and to use these gaps to hire just the right

people.

Helps manage people in a consistent and measurable way so that everyone is aligned,

held accountable, and paid fairly.

Identifies high performers and successors to key positions throughout the organization

to make sure to have highly flexible, responsive organization.

Provides learning that is relevant, flexible, convenient, and timely.

8

NEED FOR TALENT MANAGEMENT

Organizations know that they must have the best talent in order to succeed in the

hypercompetitive and increasingly complex global economy. Along with the understanding

of the need to hire, develop, and retain talented people, organizations are aware that they

must manage talent as a critical resource to achieve the best possible results.

Few, if any, organizations today have an adequate supply of talent. Gaps exist at the top of

the organization, in the first- to midlevel leadership ranks, and at the front lines. Talent is an

increasingly scarce resource, so it must be managed to the fullest effect.

The idea of managing talent is not new. Four or five decades ago, it was viewed as a

peripheral responsibility. Now, talent management is an organizational function that is taken

far more seriously. This emphasis on talent management is inevitable given that, on average,

companies now spend over one-third of their revenues on employee wages and benefits. An

organization can create a new product and it is easily copied. Lower the prices and

competitors will follow. Go after a lucrative market and someone is there right after you,

careful to avoid making your initial mistakes. But replicating a high-quality, highly engaged

workforce is nearly impossible. The ability to effectively hire, retain, deploy, and engage

talent—at all levels—is really the only true competitive advantage an organization possesses.

Organizations have been talking about the connection between great employees and superior

organizational performance for decades.

There are several drivers fueling the emphasis on talent management:

1. There is a demonstrated relationship between better talent and better business

performance. Increasingly, organizations seek to quantify the return on their

investment in talent. The result is a body of proof that paints a compelling picture of

the impact talent has on business performance. E.g.- A study from IBM found public

companies that are more effective at talent management had higher percentages of

financial outperformers than groups of similar sized companies with less effective

talent management. More and more research is showing the strong link between

mature, integrated talent management processes and financial results. Truly successful

organizations realize that the only true sustainable competitive advantage they have is

their people, and they use strategic talent management to maintain this advantage.

9

2. Talent is a rapidly increasing source of value creation. The financial value of the

companies often depends upon the quality of talent. Less attrition means lesser

expenditure on hiring: BPO’s and start ups, for example where the attrition rate is the

highest remain occupied in searching for people every now and then. Now this incurs

financial losses to the organization. An organization not only pays an employee for

his/her work but also spends a considerable amount on their training and

development. There is transfer of skill and expertise and when the same employee

leaves after a brief stint with the organization, it costs the latter.

The problem gets even worse when such a scenario occurs at the top level. An

unoccupied executive position can cost an organization dearly. The solution - a proper

talent management in place can solve this problem. The following facts become worth

consideration here:

New employees cost the company 30-60 % more than the existing employee

in terms of compensation only.

There is an additional cost incurred on training and developing the new

individual.

The process of recruitments itself costs an organization in a big way, right

from advertising a post, to attracting talent and finally short listing and hiring

someone for the job. Often there is a compromise in hiring when the need is

urgent.

3. The context in which the business is done is more complex and dynamic. Hyper-

competition makes it more difficult than ever to sustain a competitive advantage long

term. New products—and new business models—have shorter life cycles, demanding

constant innovation. Technology enables greater access to information and forces us

to move “at the speed of business.” Global expansion adds to these challenges—a

single company may, for example, have its headquarters in Japan, its R&D function in

China, and its worldwide sales operations based in California. Record layoffs, lower

engagement, and less opportunity for advancement all present additional challenges to

managing talent.

4. Employee expectations are also changing. This forces organizations to place a

greater emphasis on talent management strategies and practices. Employees today are:

Increasingly interested in having challenging and meaningful work

More loyal to their profession than to the organization

10

Less accommodating of traditional structures and authority

More concerned about work-life balance

Prepared to take ownership of their careers and development

If talent management is a core part of any organization—if it can be hard-wired into the

fabric and operations of an organization’s most essential functions—HR and senior

leadership must work together. The most successful initiatives are driven by HR with active

and enthusiastic support from the CEO and other senior leaders— who provide the resources,

the budget, the communication and support necessary for success.

But HR needs to step up and play a critical role—more so than in the past. One wouldn’t

question who owns the marketing process or the financial oversight of an organization—

that’s clearly the domain of the top marketing or financial officer and their teams. Likewise,

HR needs to own and put in place professional talent management processes. And they need

to get closer to the business. One way to do this: Work with line managers to develop

business plans that integrate talent plans, including advice on the ability to meet the business

goal with the talent on board. When gaps exist, talent management professionals need to offer

solutions to close them. In short, talent management professionals have to be trusted business

advisors that execute the talent management process.

Talent management has never been more of an immediate concern than it is right now. But in

the rush to fill a perceived talent management void, organizations must be careful not to rush

into implementing initiatives or programs that are more about taking action than about

implementing a well-crafted solution. Careful planning, culminating in a sound talent strategy

that is tightly connected to the organization’s overall business strategies and business needs,

is required for talent management to become ingrained in an organization’s culture and

practices. Only when this happens is it possible for talent management to be both effective

and sustainable.

11

STRATEGIES FOR TALENT MANAGEMENT

The vivacious nature of global business is putting an ever-increasing pressure on companies

to be constantly on the lookout for incomparable talent in a market where demand far exceeds

supply. Given the current focus on the linkage between talent and an organisation's business

challenges and strategies, effective strategy execution requires sufficient numbers of the right

people with the right skills and knowledge, in the right roles. Pressing business necessities,

such as increasing turnover as the economy improves, globalisation of markets and labour

forces, aggressive competition and heightened corporate oversight, have intensified the need

to acquire, develop, deploy, motivate and retain key talent. Getting the right people with the

right skills into the right jobs, a common definition of talent management is the basic people

management challenge in organizations. While the focus of talent management tends to be on

management and executive positions, the issues apply to all jobs that are hard to fill. This has

made talent management one of the most pressing issues facing senior business executives

Introduction

Distinctly called human capital management, employee relationship management and

workforce management, among others, talent management is not a new concept, but one that

in the past corporations haven't been set to finalize. In most companies functions such as

recruitment and succession planning, learning and development, performance management,

workforce planning, compensation and other HR or training functions have often been

isolated in departmental silos. While important individually, these programs are usually a

loose potpourri of HR initiatives with little relation to each other, little arrangement with the

organization's vital few business goals and little real way of measuring their bottom-line

impact.

Talent Management enables organizations to rapidly align, develop, motivate, and maintain a

high-performance labor force. They also alleviate the hassle of writing performance reviews

by automating the task and ensuring quality of reviews and reviewed on time. Organizations

can establish and communicate critical corporate goals, measure performance improvement,

and ensure that all levels of the organization are aligned to attain critical business objectives.

The six dimensions of talent management are as shown-

12

TALENT

MANAGEMENT

DIMENSIONS

DESCRIPTION

Develop strategy Establishing the optimum long term strategy for attracting,

developing, connecting and deploying the workforce

Attract and retain Sourcing ,recruiting and holding onto the appropriate skills

and capitalize, according to business needs

Motivate and develop Verifying that people's capabilities are understood and

developed to match business requirements, while also

meeting people's needs for motivation, development and

job satisfaction

Deploy and manage Providing effective resources deployment, scheduling and

work management that match skills and experience with

organizational needs

Connect and enable Identifying individuals with relevant skills , collaborating

and sharing knowledge and working effectively in virtual

settings

Transform and sustain Achieving clear measurable and sustainable change within

the organization, while maintaining day to day continuity of

operations

SIX DIMENSIONS OF TALENT MANAGEMENT

Source: IBM Institute for Business Value/Human Capital Institute.

Talent management and HR

Talent management suddenly evoked the charm and attention for the business world. Much of

the reason may be due to the fact that technology has finally begun to catch up. Human

resource management systems (HRMS) providers, already present in many businesses, have

begun to create add-on applications that provide a strategic layer on top of the more

administrative HR functionalities they already offer. It seems obvious then that the functions

that make up talent management can no longer be viewed independently, or hidden in HR or

training departments if they are to be truly successful. Rather, talent management must be

13

counterfeit from a true partnership between management and the departments that oversee the

"people function." The main characteristics of HR and TM are as shown-

HR process TM Process

Goals Greater efficiency , obedience Better management of people to

achieve strategic business goals

metrics Shorter time to hire , lower cost to

fill, higher percentage of

employees reviewed

Higher quality hires , stronger

leadership pipeline

benefits More efficient HR performance Better business performance

users HR professionals / power users Business managers , HR

professionals

Decision

makers

HR specialist HR specialist, senior executives,

business managers,

Technolog

y solutions

Feature rich single function

applications, designed for HR

professionals

Comprehensive , configurable cross

functional solutions designed for

business managers

CHARACTERISTICS OF HR AND TM PROCESS

The greatest talent management system on the market is worthless if the organization is not

prepared to adopt and integrate it. Each company needs to take inventory of its people and

processes, answer questions about its direction and who is responsible for getting it there.

Most importantly, companies need to break down the ever present "departmental silos" by

creating an environment in which technology can be leveraged to facilitate and maximize an

already well-thought-out program and to link it the organization's strategic goals.

Talent management challenges

Business success relies on successful talent management. If a hospital executive can't find

nurses, a retail store executive can't develop and engage store managers, or a lab director can't

keep great scientists, they will have difficulty meeting their organization's strategic business

14

objectives. The challenges of finding, keeping, developing, and motivating people in key

positions are precisely what progressive HR professionals should be focusing on. These

managers face ongoing talent management challenges that are critical to their achieving

business goals. The main challenges are as shown-

Challenges in Talent Management

Many organizations believe that effective talent management practices can be a significant

source of demarcation in today's cutthroat competition in a globally integrated economy. At

the same time, industries face their own set of unique challenges – a situation that has led

ventures to focus on different pieces of the talent management "puzzle." A recently

completed study by IBM highlights how knowledge- and service-intensive industries tend to

spend significant time and attention on talent management activities, while not-for-profit

organizations appear to struggle to make the most of their workforce. Knowledge-intensive

industries tend to focus on developing and connecting their employees. Financial services

companies tend to focus on employee attraction and retention, Retailers apply a notable

number of talent management practices overall and finally Government agencies, educational

institutions and some healthcare firms fall short in managing talent and sustaining change

Effective talent management processes and systems can have a significant positive impact on

business. The most valuable systems are those that deliver direct value to the business

manager, which are easy to use, and that are integrated across functions. Processes and

systems that meet these criteria are well-suited to help companies meet their critical talent

management challenges.

Strategies for talent management

15

Talent Management, usually referred as Human Capital Management, is the process

recruiting, managing, assessing, developing and maintaining an organization's most important

resource—it's people!

The typical strategies include:-

1. Merge talent management data by having incorporated exceptional capabilities in

learning, performance, and compensation management software.

2. Automate the talent management process into an online solution there by reducing time

and costs of performance reviews.

3. Recognize and close employee performance gaps by instantly turning automated

performances appraisals into training development plans.

4. Align training demand with performance needs and strategic goals directly there by

reducing time and money spent on non-strategic training activities.

5. Eliminate conflicting evaluation criteria by applying a standardized solution that

impose consistent language, feedback, and evaluation criteria

6. Use reliable, fair pay-for-performance initiatives

Talent Management processes is typically found in numerous parts of an organization. Thus,

many organizations struggle to align their talent management under one consistent strategy. It

may be a considerable challenge to make this happen. For example, a cohesive talent

management strategy is as shown-

16

Cohesive Talent Management Strategy

Conclusion

Failures in talent management are mainly due to the mismatch between the supplies and

demand not due to the failure in the concept. We need a new way of thinking about the talent

management challenge. A new framework for talent management has to begin by being clear

about the objectives. Talent management is not an end in itself. It is not about developing

employees or creating succession plans. Nor is it about achieving specific benchmarks like a

five percent turnover rate, having the most educated workforce, or any other tactical outcome.

The goal of talent management is the much more general, but the most important task of TM

is to help the organization to achieve its overall objectives.

17

NEED FOR SURVEYS

Gathering an accurate understanding of how employees feel about each other, their leaders,

their current positions, and the organization as a whole. Determining what aspects of your

organization are currently working effectively, what are opportunities for improvement? The

consistent measurement of these elements will instil accountability among leaders for making

progress in areas needing improvement. It also helps in capturing new areas of opportunity as

they emerge.

Survey Life Cycle

Set Up SurveyAdministration

DataAnalysis

ResultsDelivery

ActionPlanning

Surveys help determine:

• Satisfaction levels of employees

• Their willingness to be with the organization

• Their expectations

• Their discontent

• Areas of improvement for organization in order to retain employees

• Incentives and changes that would help raise productivity

• Issues not known to the management

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Survey Sample:

Talent Management Practices-“Importance” Versus Ability to Put These “In Place”

19

All employees cant be made happy. It is necessary to check alignment of Company

goals and values to that of employee’s. It is necessary to ensure employee engagement

to the roles slated for them to fill. It is necessary to find the top performers – 21%

hardworking and talented employees. Company should invest in high potential

employees to increase output levels. Company’s should develop a leadership pipeline

and retain these key performers. Employees should be trained in domains that suit

their aptitude. Focus should be on training programs on applied learning to engage

employees and increase their productivity levels. A career graph for employees should

be made. It is necessary for employees to feel satisfied emotionally and

professionally. A good career with a healthy working environment is the key to

retaining employees.

Choose employees who perform better and invest in them by helping them gain more

domain knowledge, giving them challenging jobs and paying them well. They would

stay back with the Company and will help the Company grow as their ambitions and

interests are being directed through the right channel by the company.

20

Visibly supporting employee development can increase performance by 20%.

21

TALENT MANAGEMENT ACTIVITIES

Talent management includes following activities:

• Culture and values

Culture and values play a very important role in every organisation. It is very

necessary to portray a very clear message about Company’s mission and its work

culture to all the employees. A laid back employee would not do well with a

Company with very rigorous plans and strategies.

• Workforce planning

Workforce must be planned in a very organised and systematic manner. All the

positions should be matched appropriately so that there is no employee dissatisfied

with his work. Resources must be allocated well and on time for good performance.

22

• Recruitment

It necessary to understand how well a candidate will suit certain position. Roles

should be mapped strategically.

• On boarding new hires

New hires should be trained well and should be given enough time and resources to

work on.

• Training and development

It forms and important part of every organisation. Training and development helps

employees face new challenges and be ready for projects on various domains.

• Coaching

Time to time coaching must be given to every employee. Knowledge management

and sharing system should be in place.

• Employee Engagement

Employee engagement is very important for the growth of the organisation.

• High performer development

Performers should be identified and recognised and invested on.

• Rewards and recognition

They act as incentives for employees to work on.

• Succession planning

It is necessary to plan in advance so that things are well organised and in place.

• Talent record-keeping/reporting and analysis

Company needs to get constant feedback about practices and proceedings in the above

activities from employees at all levels in organization.

23

ANALYSIS OF COLLECTED DATA

Research Design:

We have collected primary data for our study.

Sampling Design:

Our sample size (n) is 5 and since n<30 we have used the t-test method of sampling.

We have used the paired t-test since we have compared two sets of data,each representing

certain statistics on before and after talent management practices were introduced in the

company.

Formulation of hypothesis:

H o: µ1 = µ2 i.e. there is no significant difference in the attrition rate after the adoption of

talent management practices.

H 1: µ1>µ2 i.e. there is a decrease in the attrition rate after the adoption of talent management

practices.

Data collection:

The data that we have collected for our study is primary data.

We have collected two sets of data for 5 different sectors of a company (due to privacy

concerns we have not been permitted to name the company). The five different sectors are

Accounts, Sales, HR, Marketing and IT.

One set of data represents the no. of employees who had joined one of the above five sectors

of the company in the year 2005’ and had left the company on or before 2007’ i.e. in a span

of two years from their date of joining. And this set of data pertains to the period during

which talent management polices had not been adopted by the company.

24

The second set of data represents the no. of employees who had joined one of the above five

sectors of the company in the year 2009’ and have left the company on or before 2011’ i.e. in

a span of two years from their date of joining. This set of data however pertains to the period

during which talent management policies were practiced by the company.

Data analysis:

The following graphs represent the above two sets of data.

The graph below represents the no. of employees who joined one of the five sectors of the

company in the year 2005 and left on or before 2007. And this set of data pertains to the

period during which talent management practices were not adopted by the company.

Accounts HR Sales Marketing IT0

10

20

30

40

50

60

70

The next graph represents the no. of employees who had joined one of the five sectors of the

company in the year 2009 and left on or before 2011. And this set of data pertains to the

period during which talent management practices had been adopted by the company.

25

Accounts HR Sales Marketing IT0

10

20

30

40

50

60

70

Testing of hypothesis:

Before After Difference (X) (X−X� )2

Accounts 53 30 23 0

HR 45 33 12 121

Sales 58 27 31 64

Marketing 62 35 27 16

IT 49 27 22 1

115 202

X̅U = 23

σ =√¿¿/(n-1))

σ = √202/4

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= 7.11

t cal= (X̅U √n¿/σ

= 23 √5/7.12

t cal= 7.23

t tab:

Assuming α = 5 %

Degrees of freedom = n – 1

= 4

t tab = 2.132

t cal>t tab

Therefore we reject H o .

Results and findings:

Since t cal>t tab, we reject H oand conclude that the attrition rate of the company has decreased

after the adoption of talent management practices.

Attrition analysis for 2009

MECJAN'0

9FEB'09

MAR'09

APR'09

MAY'09

JUN'09

JUL'09

AUG'09

SEP'09

OCT'09

NOV'09

DEC'09

                         1Jan Count 104 104 100 99 96 96 96 95 92 91 85 83 - Leavers   -4 -1 -3 -1 0 -3 -1 -1 -6 -4 -4

Average HC for 2009

95.08

Resignations in 2009 28

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Attrition % in 2009

29%

MEC JAN'10

FEB'10

MAR'10

APR'10

MAY'10

JUN'10

JUL'10

AUG'10

SEP'10

                   1 January Headcount 81 85 85 90 90 91 96 98 97Less - Voluntary Leavers

  -4 -3 -6 -5 -1 0 -7 -3

Attrition analysis for 2010

Average HC for 2010 90.33Resignations in 2010 29Attrition % in 2010 32%

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ACKNOWLEDGEMENTS

No work can acquire the desired degree of perfection without proper assistance and guidance. We are highly indebted to our Prof. Sandeep Bhanot for his constant support and invaluable suggestions. We express our deep gratitude for providing us with an opportunity to explore this subject and in the process acquire deep insights in the said area.

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