MANAGEMENT DEVELOPMENT TALENT MANAGEMENT

What is Talent Management?  It is a process of managing aptitude, abilities & skills of a person or an employee for his personal as well as organizational development.  The word managing means identifying the competencies required and present; doing Gap analysis & finding training needs, & sketching overall career path for the employee.  It also means developing certain skills in an employee & sketching his career path.

Talent Management also means…. “Creating Organizational Excellence by Identifying, Developing, and Positioning Your Best People”

Talent Management Results into…. 1. A performance-oriented culture. 2. Low turnover (especially in premium employee groups). 3. High levels of employee satisfaction. 4. A cadre of qualified replacements. 5. Effective investment in employee compensation and development.

Career Planning  Devising an organizational system of career movement and growth opportunities from the point of entry of an individual in employment to the point of his retirement  A management technique for mapping out the entire career of young employees in higher skilled, supervisory and managerial positions.

Career Planning Process & Activities 1. Preparation of Personnel Inventory of the Organization. 2. Building career paths or ladders for various categories of employees 3. Locating or identifying employees with necessary potential for career planning: 4. Formulation and Implementation of Training and Development Plans and Programmes

Process Contd… 5. Maintaining age balance while taking employees up the career path. 6. Review of career development Plans in action.

Talent Anchors  There are certain attitudes & talents formed at early stage of your life, guide people throughout their career.  They “anchor” an individual to one or few related types of careers.  Knowledge of these careers anchors helps in planning career development.

Five types of Talent Anchors 1. Managerial Competence: capacity to take responsibility, ability to influence & take control & skills in problem solving. 2. Technical-Functional competence: functional work, remain experts rather than become managers. 3. Search for security: more attached to organization or a location than a work. 4. Desire for creating and developing something new 5. Freedom of Independence.

Career Developmental Cycle  Exploratory Stage  Establishment Stage  Maintenance Stage  Stage of Decline

Talent Identification  Most important aspect of Talent Management is identifying talent in an employee or an individual.  This is the first and the most crucial step in the entire process.

Talent Identification Tools  Simulation: employees are exposed to hypothetically real life situations. This test reveals abilities of persons with high predictive validity since they perform on job tasks. Eg. In-basket exercises & role play.  Job-Knowledge Tests: measures the level of knowledge a person possesses in the given area/field. These are based upon job analysis reports.  Personality Tests: this is used to identify the personality characteristics. General behaviour & overall attitude.

Tools contd… Skill Inventory Tests: to understand the areas of interest of a person, this method is used. Cognitive Aptitude Tests: these are used to determine reasoning abilities, memory and numerical n linguistic competencies. Eg. Employment & competitive tests which are conducted during recruitment. Psychomotor abilities tests: these are used to measure dexterity & coordination abilities. Depending upon the job requirement, the tests are designed.

Competency…Part of Talent Management  Competencies are defined as knowledge, skills, attributes, and behavioral traits required for individual and organizational success.  Competencies can relate directly to an individual’s success in a particular job family that involves demonstrating knowledge in a technical, professional, occupational, vocational, or process area.

Competency Model  CORE COMPETENCIES MODEL.  JOB FAMILY SPECIFIC COMPETENCY MODELS.  CLERICAL/SUPPORT/STAFF/PARAPRO FESSIONAL COMPETENCY MODEL.  RESEARCH/TECHNICAL COMPETENCY MODEL  ADMINISTRATIVE/PROFESSIONAL COMPETENCY MODEL  SUPERVISORY COMPETENCY MODEL

Why Talent Management ??  Identify, select, and cultivate "Superkeepers"—the employees your organization can not afford to lose.  Locate and develop highly qualified backups for key positions, which are critical to organizational continuity.  Allocate resources to employees based on actual and/or potential contribution to organizational excellence.

Tips For Better Talent Management Effective talent management starts at the top. Strategic talent management will impact profits. Retention of top talent can boost cost savings. Understanding the needs of your talent pool is key to retention.

Thank You !!!