ms-talent management on 03.08

8/8/2019 MS-Talent Management on 03.08

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TALENTMANAGEMENTIt takes talent to spot talent!

Submitted by:Rohan Kaple, Swapnil Kharde, Avinash Khirwar, Pranav Kolhe, Amey


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What is Talent?"Talent" is a term you hear in a variety of contexts.

It's used constantly in reference to

Celebrities: in show business, performers are oftenreferred to as "the talent." Sports analysts will talk about an outstanding

athlete's "raw talent." Grade-school kids impress audiences full ofparents at talent shows.

While the existence of talent agencies and talent

brokers implies that talent is a rarefied commodity,something to be bought and sold.


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Carefully examining and refining the concept oftalent may make it easier for you to recognize it inyourself and others, in order to make the most of itin your daily life. What is it, for example, thatdistinguishes talent from related -- but verydifferent -- concepts, such as competency or style?

For many recruiters, talent is synonymous withanyone who says yes. For others, it is any hirethat stays for six months or a year. And for stillothers, it is any hire that a manager finds

satisfactory.


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some define talent as those employees whosecontributions are vital to our ability to produce our

product or deliver our service. Excellent talent thenrefers to those who produce an above-averageamount of our product and poor talent means thosewho do much less than average. Sports teamsmeasure talent this way all the time. When a team

manager speaks of quality talent, he is talkingabout those individuals who make the most points,block the other team most often, or who the fansand players identify as essential for success.

Knowledge and skills can be learned, buttalent is enduring


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Talent reflects howyou're hard-wired.

Talent dictates yourmoment-by-momentreactions to yourenvironment. Talent results in

consistently recurringpatterns of thought orbehavior. To deviate from thosepatterns requiresconscious effort, and suchdeviations are difficult tosustain.

Talent Knowledge Skills

T

al

e

nt

Imply learned behavior,actions that require more

active cognitiveprocessing.

What you know revealsmore about your

experiences andeducation than about whoyou are at the core.

Behavior derived fromknowledge and skills canbe changed far moreeasily than talent-basedbehavior.

K

now

le

dg

e

&S

kil l


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A tone deaf will never be able to appreciate themusic of maestros. Only a seasoned jeweler would

know that all that glitters is not real! And, onlythose who can recognize the worth of a diamondcan value it, for others it's just a stone!

Talent is doing easily what others find difficult.

philosophy


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What is Talent Management?

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 around hole. When people do jobs that just don't suittheir liking, inclination or temperament, the results,or rather the lack of them, will be disastrously

obvious. Low productivity, dissatisfaction, lowmorale, absenteeism and other negative behaviorwill become typical till the employee is shown thedoor. Or perhaps, there is another option

Talent Management.


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BenefitsThe Organization Benefits

Increased productivity and capability A better linkage between individuals' efforts andbusiness goals Commitment of valued employees Reduced turnover

Increased bench strength and a better fit betweenpeople's jobsand skills

Employees benefit

Higher motivation and commitment Career development Increased knowledge about and contribution tocompany goals Sustained motivation and job satisfaction


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1. Transparence about our Human Capital

2. Recognition & Development of performance andpotential

3. Long term Competitiveness

ther Important purpose:


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1. Talents do not respond well to command and control

style2. Talents need freedom and flexibility

3. Practice and foster a winning attitude

4. Allow participation in decision making

5. Use Talent based decision

6. Praise in public , Pan in private

7. Use total honesty

8. Focus on process not on result9. Be a friend not a boss

me points in managing talent


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nt Management System - Overview

Talent Management System

Design Talent FriendlyEnvironment

Design & Up gradationOf TMS


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Talent management system:Talent management system is a process to fit a rightcandidate in a right job & retention of talent.

Design Talent Friendly Environment:Create talent friendly environment

Design & Up gradation of TMS:Research & development of employee benefit policies


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Talent Friendly EnvironmentA winning organization management System hasnine element to build a talent friendly environment

where talent can be attracted and retained.

Customer FocusSystem

Participative management system

Constant Innovation system

Project team formation system

Employee development system

Human resource management system

Financial Support system

Performance And Satisfaction Measurement System

Change management system


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Talent Friendly Environment

cont.

1. Talent Satisfaction Measurement System

2. Talent Action Response System

3. Talent Management system


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Talent Friendly Environmentcont.

1. Participative management involves sharinginformation with employees and involving them indecision-making. Employees are encouraged torun their own departments and make decisions

regarding policies and processes. It has often beenpromoted as the quick cure for poor morale andlow productivity. It is not, however, appropriate inevery organization and at every level.


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2. Employees must have the skills and abilities toparticipate. Employees must have the technicalbackground, communication skills, and intelligence

to make decisions and communicate thosedecisions effectively. The organization's culturemust support employee involvement and theissues in which employees get involved must berelevant to them.

3. Representative participation allows workers to berepresented by a small group who actuallyparticipate. The goal of representativeparticipation is to redistribute power within the

organization. Employees' interests become asimportant as those interests of management andstockholders.


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Talent Friendly Environmentcont.Constant Innovation System

1. Innovation Institute

2. Implement six sigma

3. Benchmarking

4. Training

5. Idea seeding and cultivation fund

6. Champion process


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Talent Friendly Environmentcont.

1. XYZ management

2. Performance assessment and enhancement process

3. Career planning

4. Four Cs process

5. Talent scorecard


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Purpose of TMS

There are different systems in any company like HRMS

and ERP system which deal with transaction andadministration of basic human resource .

In a same way talent management system (TMS) focuson providing strategic assistance to an accomplishment

of long term goals organization in the accomplishmentof long term goals


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Good companies create a strong brand identitywith their customers and then deliver on thatpromise. Great employment brands do the same,with quantifiable and qualitative results. As aresult, the right people choose to join the

organization

Attracting talent


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Management should implement proven talent

selection systems and tools to create profiles of theright people based on the competencies of highperformers.

Selecting talent


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In the current climate of change, it's critical to holdonto the key people. These are the people who willlead the organization to future success, and you can'tafford to lose them.

The cost of replacing a valued employee is enormous.

Organizations need to promote diversity and designstrategies to retain people, reward high performanceand provide opportunities for development.

Retaining talent


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Notice what do employees do in their free time and

find out their interests. Try to discover their strengthsand interests. Also, encourage them to discover theirown latent talents

Recognizing talent


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1. Design a talent

management system

2. Unbiased reward andreorganization

3. Flexible work

environment and

positive culture

4. Proper training

5. Effective and

meaningful appraisalsystem

6. Design job for talented

people

7. Proactive visionary

management and

leadership

8. Provide proper

research facility

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

environment7. Create social bond

through adventure,

sports, party, contest etc

8. Profit sharing plan

9. Eliminate non working

people

1. Establish effective

communication and

cooperation

2. Allow talent to create andapply 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

1. Identify own

talent before

hiring talent

2. Performancebased talent tool

3. Test based

4. Scorecard

entries

TMS

Attract Talent RecognizeTalent

SelectingTalent

RetainingTalent


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Steps to identify talents:

1. Select a jury : who examine evidence, vote and their strengths. Jury design a

scorecard.

Attributes Type of evidenceself score jury scoreInnate Skills

Intellectual strength

Creativity

Work hard

Work smart

Continuous learning

Passion for work

Passion for action

commited to enterprise.

.

.

.

.

.

.

talent scorecard


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Steps to identify talents cont

2. Selecting and understanding evidence: Two objective and two subjective

evidence

Talent subject

Boss + 1 or 2

CustomerSupplier

2 or 3 subordinate


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3. Self scoring : Talent should make self assessment.

4. Jury scoring : Jury gives the score to talent on evidence

5. Average scoring of jury members

6. Analyze score : score shows whether weakness or strength

7. Normalize score to common scale:

Position =

Score

Maximum count

Scale range


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9

8

7

6

5

4

3

2

1

Super talent

Strong talent

Talent

Watch talent

Average

Watch for improve

Questionable talent

Weak opportunity

No talent

Normalize score to common scale


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Talent management is a name for a human resourceprogram that applies to more than just computinghours and taking care of legal aspects of employment.

Rather, talent management applies to the strategy ofrecruitment and retention, compensation andassessment and review.

In some cases, talent management is a processhandled over multiple departments. In other cases, itmay be solely handled by human resources.


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Once the formal education is completed, people are highlylikely to be subject to an employment screening test. Theactual configuration of these types of assessment tests willvary between employers as well as from one industry to

another. Often, the employment tests seek to not only assessthe amount of knowledge the applicant possesses, but alsowhat type of people skills and work habits the applicant islikely to exhibit. In a sense, the employment screening testalso acts as a placement test, in that it will help determine ifthe applicant is right for a particular position within thecompany.

Assessment testing does not end once the applicant landsthat first job. Throughout the course of any career, there will

be opportunities for advancement. Often, assessment tests ofsome kind are utilized to determine if the individual has theskills and knowledge necessary to secure a promotion. One ofthe benefits of these tests is that the employee can use theresults to identify areas where there is a need to broaden the

skill set and knowledge base in order to earn a promotion at a


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Challenges solutions

Collision between talents

Talent FusionNot compatible with change Gross

root educationTalent development budget

Forecast return ontalent

Hiring and holding

Replacement cost

Training cost


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Return on talent (ROT) =

Knowledge generated and applied

Investment in talent

= Project value - project expenses

Investment on talent

Calculating ROT


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Conclusion

Talent is not a rare commoditypeople are talented in manyways: it is simply rarely released. To make talent happen,

organizations must give it strategic and holistic attention.

It's not simply a matter of finding the "best and thebrightest," it's about creating the right fit - both for todayand tomorrow.

A rightly managed talent turns out to be a Gold Mine. It'sinexhaustible and priceless. It will keep supplying wealthand value to the organization.

In turn, Management needs to realize its worth, extract it,polish it and utilize it. Don't hoard Talent- spend it lavishly,like a millionaire flashing his luxuries, because Talent isWealth!


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References

The Hindu (indias national newspaper)

What is talent and how we can measureit, by kevin wheeler

Talent management on wisegeek.com

Talent management related topics.


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Thank you

ms-talent management on 03.08

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