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Talent Management

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Talent Management

  2. 2. Consider……..<br />..at any one time 59% of employees will be open to working elsewhere<br />
  3. 3. What is Talent Management?<br />A set of processes that allow a company to increase value provided by their human capital.<br /><ul><li>Key processes
  4. 4. Goal alignment
  5. 5. Candidate selection
  6. 6. Performance management
  7. 7. Employee development
  8. 8. Rewards delivery
  9. 9. Workforce is more:
  10. 10. Suitable
  11. 11. Engaged / Committed
  12. 12. Flexible / Adaptive
  13. 13. Productive</li></ul>Align<br />Measure<br />Comply<br />Automate<br />
  14. 14. Characteristics Of Good Talent Management<br />Ownership and involvement<br />Business objectives permeate every aspect of the system <br />The system is measured in real business terms and results are acted upon <br />Hire the right people. <br />Acclimate new employees <br />Discuss career interests with employees <br />Identify developmental opportunities <br />Identify training opportunities <br />Offer appropriate rewards and recognition <br />Help employees to advance <br />Create a workplace that has meaning and purpose <br />
  15. 15. MANAGING TALENT EFFECTIVELY…<br />Identify key roles<br />Take an inventory of your talent management skills<br />Measure the right things<br />Set up a process-wide feedback<br />
  16. 16. The Develop-Deploy-Connect Model<br />Alignment: Connecting people to work that is motivating.<br />Commitment: Providing coaching and mentoring. <br />Capability: Developing critical skills to ensure success.<br />
  17. 17. Acquiring<br />talent<br />Value Propostion<br />Education & Development<br />Talent Management Process<br />Building Leadership Supply<br />Requires an integrated Approach Which Addresses <br />the Following Areas:<br />Assessing<br /> new and <br /> current<br />talent<br />Developing<br /> talent<br />Transitioning<br /> Talent<br />Retention<br />
  18. 18. TALENT ACQUISTION<br />CORE CONCEPT<br /><ul><li> Get away from the 'fill in the box' thinking to one that is more pro-active
  19. 19. And much closer to building the skill sets required to achieve business</li></ul> success. <br /><ul><li> Key to success in talent acquisition is the unique way that you are able</li></ul> to tap into the 'top performers' who are not really looking for another job <br />IMPORTANCE<br /><ul><li>Understanding workforce demographics (current and future)
  20. 20. Identifying economic issues impacting organizational sustainability
  21. 21. Identifying organizational and cultural issues impacting talent acquisition
  22. 22. Knowledge of industry trends and emerging issues </li></li></ul><li>TALENT ACQUISITION STRATEGIES<br />Strengthen Your Own Direct Reports <br />Establish a talent Standard… sharp difference between poor; average and excellent performance is creating a benchmark for evaluation and promotion.<br />Influence People Decisions Far Down the Organization <br />Drive a Simple, Probing review of Talent <br />Hold Managers Accountable for the strength of their talent pools<br />Poaching talent <br />
  23. 23. Old Mindset<br />A vague notion that “People are our most important asset”<br />HR is responsible for people management<br />Two days succession planning<br />I work with the people I inherit<br />
  24. 24. New Mindset<br />A new conviction that talent leads to better corporate performance<br />All managers are accountable<br />Talent managers is a central part<br />I take bold actions to build the talent pool I need<br />
  26. 26. THE CHANGING CAREER PARADIGMS<br />OLD PARADIGMS<br />Job Security<br />Longitudinal Career Paths<br />Job/Person Fit<br />Organizational Loyalty<br />Career Success<br />Academic Degree<br />Position/Title<br />Full-Time Employment<br />Retirement<br />Single Jobs/Careers<br />Change in jobs based on fear<br />Promotion highly tenure based<br />NEW PARADIGMS<br />Employability Security<br />Alternate Career Paths<br />Person/Organization Fit<br />Job/Task Loyalty<br />Work/Family Balance<br />Continuous Relearning<br />Competencies/Development<br />Contract Employment<br />Career Sabbaticals<br />Multiple Jobs/Careers<br />Change in jobs based on growth<br />Promotion highly performance based<br />
  27. 27. Contributions from<br />Inducements from<br />the Individual<br />the<br />Organization<br />•<br />Effort<br />•<br />Pay<br />•<br />Ability<br />•<br />Job security<br />•<br />Loyalty<br />•<br />Benefits<br />•<br />Skills<br />•<br />Career opportunities<br />•<br />Time<br />•<br />Status<br />•<br />Competencies<br />•<br />Promotion opportunities<br />THE PSYCHOLOGICAL CONTRACT<br />The overall set of expectations held by an individual with respect to what he or she will contribute to the organization and what the organization will provide in return.<br />
  28. 28. CAREER MANAGEMENT PROCESS<br />STEP 1INDIVIDUAL<br /> ASSESSMENT<br />STEP 2 INTERPERSONAL <br /> ASSESSMENT<br />STEP 3 ORGANIZATIONAL<br /> ASSESSMENT<br />STEP 4 ACTION PLANNING<br />Who am I? (Career Stage, Path Preference, Political Style)<br />How do other see me?(Self-insight, image, political style, personality)<br />What are my options within the organization? (Knowledge of the organization, future trends, options, opportunities)<br />How do I achieve my goals?(Motivation, confidence, goal setting, action planning)<br />
  29. 29. CAREER STAGE SCALE<br /><ul><li>ENTRY
  31. 31. BALANCED
  32. 32. EXPLORATION</li></li></ul><li>STAGES OF CAREER DEVELOPMENT<br />Stage 5: Late Career (ages 55–retirement):<br /> Stage 4: Midcareer (ages 40–55):<br />Stage 3: Early Career (ages 25–40):<br />Stage 2: Organizational Entry (ages 18–25):.<br />Stage 1: Preparation for Work (ages 0–25):<br />
  33. 33. LEADERSHIP MANAGEMENT<br />Interpersonal Skills<br />Communications<br />Teamwork<br />Flexibility<br />Build appropriate relationships <br />Leadership Abilities<br />Visioning Process<br />Coach and Train Peers and Subordinates<br />Create and Lead Teams<br />Implement Employee Involvement Strategies<br />
  34. 34. How Do You Develop Leaders?<br />Job change/rotation<br />Special projects and assignments<br />Exposure and involvement in key business challenges<br />Task forces, committees, change initiatives<br />Experience<br /><ul><li>Job Performance feedback
  35. 35. Executive coaching
  36. 36. 360-degree feedback process
  37. 37. Developmental assessment workshops</li></ul>Ascending Value<br />Feedback &<br />Coaching<br /><ul><li>Critical skill building training programs
  38. 38. Transition training programs
  39. 39. Key external training programs
  40. 40. Self-directed learning initiatives</li></ul>Formal <br />Learning<br />
  41. 41. EXECUTIVE COACHING<br />Aimed at business executives in work environment<br />Help to improve effectiveness in terms of leadership and decision making<br />Difference between Personal and executive coaching<br />Goal setting is business oriented.<br />Business leader can discuss weakness in confidential and safe environment<br />Focus can be on:<br />Leadership Training<br />Financial Awareness<br />Management Training<br />Time Management<br />Project Management<br />Team Building<br />
  42. 42. TEAM BULIDING<br />It is the process of enabling that group of people to achieve that goal<br />Group of people common objective high quality results , who work together and enjoy their work.<br />Members should be valued and have sense of belonging.<br />Individuals should be given challenging tasks and assignments to achieve teams objective.<br />Five key issues to be considered in team building:<br />Interdependence <br />Goal specification <br />Cohesiveness<br />Roles and Norms<br />Communication<br />
  43. 43. SUCCESSION PLANNING<br />Definition :a process by which one or more successors are identified for key posts (or groups of similar key posts), and career moves and/or development activities are planned for these successor.<br />Targeted only to key leadership positions<br />How Succession Planning Helps<br /><ul><li>Understanding the organization's long-term goals and objectives
  44. 44. Identifying the workforce's developmental needs.
  45. 45. Determining workforce trends and predictions</li></ul>Benefits of Succession planning:<br />Better Retention<br />Valuable training goals<br />Increased preparation for leadership<br />Greater employee satisfaction<br />Enhanced commitment to work and workplace<br />Improved corporate image<br />
  46. 46. TALENT RETENTION<br />FACTS<br />Over 50% of the people recruited into an organization will leave within 2 years. <br />1 in 4 people recruited will leave within 6 months. <br />Nearly 70% of organizations report that staff turnover has a negative impact. <br />Nearly 70% of organizations report having difficulties in replacing staff. <br />Approximately 50% of organizations experience regular problems with employee retention. <br />
  47. 47. Why is retention becoming one of the top issues in HR?<br />The enormous cost associated with staff turnover. <br />The difficulties experienced in replacing people (on average positions go unfilled for over 9 weeks). <br />Despite advances in recruitment practices recruitment is still a less than perfect science – each new recruit represents risk. <br />Costs associated with training. <br />The overall impact on the organizations ability to meet the needs of its customers <br />
  48. 48. TALENT RETENTION TOOLS<br />Career development opportunity<br />Sense of accomplishment<br /> Job security<br /> Confidence in future<br /> Good compensation<br /> Recognition<br /> Fairly evaluating job performance<br />
  49. 49. Make Your CEO Understand…<br /><ul><li>War for talent
  50. 50. Starts at the top
  51. 51. Affects shareholder value
  52. 52. Turnover costs money
  53. 53. The workforce is diversifying
  54. 54. Workforce planning and development are critical</li></li></ul><li>The Road Ahead..<br />Its Only The Strategy <br />That Will Matter….<br />