TALENT MANAGEMENT

Consider this…..at any one time 59% of employees will be open to working elsewhere

What is Talent Management? A set of business practices that manage the planning, acquisition, development, retention and advancement of talent in order to achieve business goals and optimize performance. “Nothing is as important as identifying, training, and holding onto talented people” – Jack Welch

IMPORTANCE OF TALENT MANAGEMENT Recruitment Retention Employee development Leadership and "high potential employee" development Performance management Workforce planning Culture

In good times and bad When business needs are high, people with a range of talents are added. When business eases, talent needs drop and workforce reductions and hiring freezes are common responses

Executing talent management strategy Being custodians of the talent management process Providing guidance and fresh thinking about talent management programs Role of HR in Talent Management

Talent Management Helps in Increasing Employee satisfaction Worker productivity Learning effectiveness Service levels Reducing Employee turnover Time to ramp new hires

Talent Management At a Glance Current Required Job Skills Organizational Objectives Workforce Competencies Align Development with Needs Close Gaps & Monitor Performance Improve Critical Competencies Future Required Job Skills Competency Gap Competency Gap

Talent Management Process PLAN LEAD ANALYZE ADVANCE DEVELOP EVALUATE

Identify The Employees Superkeepers –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 Identify The Employees

Measure and Monitor Talent Self-Management Progress monitoring Self assessment Competencies update

Employee Management Appraisals Project reviews Performance reviews Progress monitoring Measure and Monitor Talent

Career Progression Metrics Training completion & success rates Skills improvement rates On-the-Job Proficiencies Measure and Monitor Talent

HOW TO EFFECTIVELY MANAGE TALENT? 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

Change Organisation Culture Managing Succession Selecting Talent Attracting Talent Retaining Talent Recognize talent WAYS TO MANAGE TALENT

ways to keep hold of talent Build a path that enables the employees to utilise their full potential Invest in building the psychological contract –Individual growth –Compelling future –Pay –Positive workplace

Track Learning and Progression Quantify the Effect of Training Track Learning and Progression Quantify the Effect of Training Measure & Monitor Measure & Monitor Plan Align Workforce to Strategic Objectives Retain Top Talent Align Workforce to Strategic Objectives Retain Top Talent Instruct Provide Training Enable Global Learning Provide Training Enable Global Learning Reward & Promote Reward & Promote Give Suitable Compensation and Rewards Learning Retention Career Progression 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

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