Student Name: VIDYA VIVEK HANABAR Registration Number: 521161255 Subject Name: TALENT MANAGEMENT

Course: MBA(IV SEM) LC Code: 3305

MU0017

Subject Code:

Q1. Explain the need for talent management? Ans: Talent Management has become a state of the art managerial technique in an organisation which wants to retain its own cadre. These days its getting pretty easy from the perspective of management to get freshers inducted to its own organisation. But its gets difficult to the same extent to retain them for a long run as opportunities for betterment of their career come flashing to them day by day once they acquire some knowledge on the system through training and practice at the cost of the employer. So, to cater to the need of the situation, people working at the top of management should device out certain tools and techniques to retain them. The technique used may vary from industry to industry depending on the type of job that they are in, the nature of people that they are dealing with. The primary point, that I feel, the reason behind leaving an organisation is "The feel of detachment" in an employee from the objective and goal of an organisation. The feel that he is not being noticed by the persons who actually holds the key of his career development. The feel that someone else sitting at a level higher or somebody sitting at a proximity close to the top management is taking the credit for the fabulous job that he has recently carried out and even not mentioning his name to the people who actually matters. Its known that, In an organization, many talented persons do not come to the surface due to their inherent nature. For example, big fishes do not come to the surface of the water and like to stay in deep water. However a fisherman applies his techniques to catch big fishes and gets maximum benefit. In many organizations, persons try to be visible through networking, personal contacts, recommendations etc. They need not be truly extraordinary and talented but are often visible and are caught in the eyes of top management. They get advantage from the appraisal / promotion policies and reward system. However most successful organizations try to search and encourage talented persons to be visible irrespective of their less interest in networking, contacts, selfadvertisement and cheap popularity etc. Hence, many organizations, mostly MNCs & good private companies try to harness maximum benefit from their employees through talent search & talent management. In an organization, many talented people come and join with a dream for achievement, success and career growth. But in later phase of their career, they realize and experience the true culture of the organization and many of them feel neglected & frustrated. They gradually lose interest, become non innovative, less participative and suffer from mental depression. Through Talent Management,

attention can be given to all employees irrespective of their nature. Sincere and silent employees will not feel neglected. Fairness and transparency in the appraisal process can lead to satisfaction of employees and thereby least grievances. For this, both controlling and reviewing officers need to be fully retrained to maintain rationality in the marking system. To elaborate what may be the different ways through which this can be practiced in an organisation are : 1)Recognise talent: Notice what do employees do in their free time and find out their interests. Try to discover their strengths and interests. Also, encourage them to discover their own latent talents. 2) Attracting Talent: Good companies create a strong brand identity with their customers and then deliver on that promise. Great employment brands do the same, with quantifiable and qualitative results. As a result, the right people choose to join the organisation. 3) Selecting Talent: Management should implement proven talent selection systems and tools to create profiles of the right people based on the competencies of high performers. It's not simply a matter of finding the "best and the brightest," it's about creating the right fit - both for today and tomorrow. 4) Retaining Talent: In the current climate of change, it's critical to hold onto the key people. These are the people who will lead the organisation to future success, and one can't afford to lose them. The cost of replacing a valued employee is enormous. Organisations need to promote diversity and design strategies to retain people, reward high performance and provide opportunities for development. 5) Managing Succession: Effective organisations anticipate the leadership and talent requirement to succeed in the future. Leaders understand that it's critical to strengthen their talent pool through succession planning, professional development, job rotation and workforce planning. They need to identify potential talent and groom it. 6) Change Organisation Culture: Let us ask ourselves, "Why would a talented person choose to work here?" If the organisation wishes to substantially strengthen its talent pool, it should be prepared to change things as fundamental as the business strategy, the organization structure, the culture and even the caliber of leaders in the organisation.

Q2. List the key elements of talent management system. Explain any two of them. Ans: Talent management practices and techniques have evolved over time in response to a changing workplace. The most effective talent management processes are organisation-specific and react to an organisations distinctive business and human capital framework. Talent

management includes a range of interdependent processes and procedures that need to be properly integrated. The organisation will not achieve the desired level of human capital performance if talent management processes do not operate as a unified group. The key elements of Talent Management System are as follows: Selection. Recruitment Process. Induction and Training. Capability Development. Performance. Retention and succession

Induction and training: Induction is the formal entry of the selected candidates into the organisation and Training is to develop their knowledge, skills and competencies by teaching with respect to the organisational requirement. Employers should not assume that new hires can cover for themselves, and will only need brief introductions and a chunk of corporate information to get them started. Although lost profits due to the training of a new hire has been estimated as 1.0 2.5% of total revenue, it is clear that this induction period is vital given that 6.3% of people leave within the first 6 months of starting in a new role, which is typically due to their induction experience. A proper induction program helps to reduce employee discomfort, improve productivity and save money. After an effective, useful and timely training experience should be the progressing development chances that support the individual in the role, but also the organisation in achieving its broader objectives. Such training, where possible and practical, should be in-time rather than in-case to provide training environments and materials that change to meet individual or small group demands precisely at the time when new skills are needed. Capability development: Customised improvement opportunities for key talent are seen as an essential component for motivation and retention of these people. In the present scenario, developing the current employees is a more cost effective and efficient means of maintaining internal talent pools rather than recruiting new people and wasting vital resources on their training. Career growth also has a major impact on job satisfaction and commitment, to an organisation that relates directly to the retention of dynamic employees. Both high potentials and core contributors should be given enough opportunities to develop by the internal talent management in order to maintain operational effectiveness and output. Key performers and core contributors require different growth experiences that should be modified accordingly for maximum profit. Committed leaders are required to emphasise the idea on both groups given their competing business priorities. The Talent Development structure adopted by an organisation needs to support the talent capabilities required for the future and needs to be able to blend with ongoing changes. Good

leadership quality in a global and increasingly diverse workplace is a highly sort after competence, and this must be embedded into any comprehensive development program. Q3. List and explain the Talent Selection processes? Ans: The Talent Selection consists of five selection processes. They are: 1. Job benchmark: This process determines key responsibilities of the job which is being benchmarked, as well as individual competencies, motivation and skills required by the job. All of this can be accomplished in a three hour meeting of four to ten people who really know the job. The process is backed by a 30 minute online evaluation of the job that each participant has to attend individually to create a composite model of the key attributes required by the job for success. One important result of the process is high buy-in of all participants for the real requirements of the job. 2. Assess candidates: This process is used to Assess Candidates with the Personal Talent Report. This report reflects a candidates personal competencies, motivators and skills with very high validity and precision. 3. Compare job and talent: The third process is to compare the requirements of the job and the talents inherited by the candidate. The purpose here is not to judge the character of a person, but rather to analyse how well they fit the particular needs of a specific job. 4. Behavioral interviewing: The fourth selection process is to enhance the assessment data with effective behavioral interviewing. The key to effective interviewing is having the right questions for the particular job. 5. Selection: The last stage of the process is making the selection. Now that all the information is collected about the candidates qualifications, this process has a whole different perspective. While it may not be possible find the perfect fit for a particular job, a candidates limitations are known and importance of those particular attributes are linked to other attributes for success in the job. Once the selection is made the applicant is given proper training and developing to assure their success going forward.

Q4. Explain the components that help in developing an adaptive talent strategy. Ans: The following are the three components that help in developing adaptive talent strategy: Know the talent you have Visibility into the companys existing workforce should be easily accessible for the recruiting function. Knowing where the strengths, weaknesses and gaps exist informs external recruitment. When the talent acquisition leader has this information they can more effectively develop a recruitment strategy and direct resources by partnering with their organizational development peer to identify the key skills and competencies needed to support the organization. An internal talent management system can deliver a number of benefits. It brings efficiency to the talent planning process and facilitates the movement of talent throughout the organization to meet the

needs of employees and businesses. If employees know they have opportunities to pursue elsewhere in the organization chances are youre going to improve retention. External recruitment should always be informed by the internal gaps and talent plans to make smarter investments and decisions when pursuing new talent. Develop a talent plan
Clarity around workforce structure guides how the organization shapes thinking about talent today and in the future? Which roles need to sit in a specific geographic location and where do you have flexibility to pursue the best talent regardless of location? Where can you infuse elasticity in your workforce through part-time, contingent and job share roles? When do you build and when do you buy talent? How do you broaden reach by identifying where work can be done outside the organization and engage collective collaboration to generate ideas and drive innovation? What is your plan for knowledge transfer? How will you prepare for a maturing workforce with different needs? What does the supply and demand look like for the talent you need to support the strategic business directives? For which functional areas and roles do you have a recruiting core competency and where will you outsource recruitment to a third-party? These are just a few of the key questions that should be asked in developing a talent plan to guide recruitment. Without having clarity around these types of questions and the resulting impact on your organization, chances are youll experience significant talent pain points over time rather than operating as an adaptive, value-oriented talent function.

Leverage technology
In addition to an internal talent management system, a CRM tools is a key component to building an effective suite of recruiting technology solutions. The CRM serves a number of critical needs. It supports the recruitment functions ability to manage communications, build relationships, integrate state-of-the art sourcing capability and provide visibility into the readiness of your talent pipeline. This last benefit, visibility into the readiness of your talent pipeline, is key to supporting an adaptive talent strategy. Youll be able to provide better guidance to the business partners and make smarter decisions around how and where you allocate resources to external recruitment. The Reports screenshot to the right, courtesy of Avature, provides an example of the benefits gained when you have visibility into your talent pipeline. You know the readiness of talent and the depth of your pool by type of talent needed. This will begin to provide you with an idea of what shapes an adaptive talent strategy. The benefit to the organization is enhanced support of the strategic business directives by improving alignment, opening up an active dialogue early enough in the planning process, and anticipating the types of talent needed. The benefit to the talent function is improved clarity around strategic business directives, the ability to be more planful in developing and implementing a supporting strategy, and the ability to deliver greater value to the organization. The ROI can be significant. Youll realize the benefits of reduced third-party recruitment fees, reduced time-to-hire, increased recruiter productivity, reduced marketing / job posting costs, and increased efficiency in the movement of internal talent. The remaining elements - employment brand and networks, metrics, and internal communication will be covered soon. You might also want to take a look at the model on the home page to get a visual

image of the framework for an adaptive talent strategy.

Q5. (a) What is talent engagement? Ans: Talent engagement is a process wherein employees work by putting in more effort as their morals and interests are associated with that of the organisation. Also, Talent engagement is defined as The Extent to which the workforce identifies with the company, is committed to it and provides discretionary effort so that it can be successful. Engagement is a key leading indicator to high performance workplaces, improved employee productivity and subsequent turnover. (b) What are the objectives of talent engagement? Ans: The Objectives of Talent engagement : Creating an emotional assurance and strong two-way rapport between the employees and the organisation. Expecting the clear performance and the clear return from the company, for example, working atmosphere, growth, incentive, career opportunities, so on, which enables employees to link between their contribution and the growth of the company. Motivation and allowing people to achieve their goals and reward them based on their contribution and then provide them with excellent career opportunities. Developing a learning culture which promotes personal growth and professional quality and support ethics of professionalism, modernisation, practicality, team spirit, reliability, so on. Admiring and valuing individuals, their diversity and encouraging them to balance their professional and personal lives. Q6. Explain the role of HR in talent management. (10 marks) Ans: Talent Management involves identifying the right talents and developing those talents into personnel competencies, which is required by the organisation to have highly efficient and high performance human capital. The important areas of talent management that forms a part of HR planning are: Providing value for individuals by creating and maintaining an organisational culture. Identify the needs of an organisation. Training and developing employees to meet the organisational needs. Recruiting talented people, who are capable of providing further job needs, Conducting and managing HR activities to support talent the development of talent in an organisation. The following are also major responsibility of HR in Talent management: Getting the best employee Before hiring, the best employee the HR must have knowledge of the following: The HR must know what he is hiring for. The HR must also determine the skill and the personnel attribute required by a candidate that matches with the requirement of the job. The HR must know the tasks and the responsibilities involved in the job. This is necessary because, the HR will have to give the summary of the job tasks, responsibilities, and objectives

of the job to the employee. The HR must also have knowledge of the educational qualification and experience required for doing the job. This is because the education and experience are considered as the two most important characteristics while evaluating a candidate for a job. HR must understand the characteristics required by the personal to grown in the organisation. The best employee is the person with: The right education + the right experience + a compactable personality. Paying employees and providing benefits The HR is responsible for administrating the pay and benefits of the employees. The employees pay and the benefits provided to them play an important role in motivating them. The HR calculates and summaries the salary structure to the employee, explaining the employee the pay offered apart from the bonuses, commissions, and other performance related pay. The HR keeps track of each employees earnings and benefits. The HR maintains an extensive record for this purpose and shares the same with the management, government, employees and others in the organisation. The HR also provides employee benefits like health insurance, dental insurance, life insurance and so on. The HR also keeps a track of the vacations pay, holiday pay and the maternity leave of the employee. Training employees Employee training is important for the following reasons: Updates the skills and knowledge of employees on the recent development in tools and technologies. Updates the knowledge of employees in on other fields and areas apart from their area of specialisation. This is required in a multidimensional work place. Exposes new employees passed out from college to practical implementation of what they have studied. Provides career advancement for employees. Motivates the employees to perform well. Ensuring compliance to regulations To ensure compliance to regulations, the HR must: Have the right skills and experience to support the compliance process. Be up dated with all the laws as the laws change constantly, and communicate the same to all the employees. Create manuals on HR policy, regularly update it, and get it reviewed by the lawyer before implementing it. Train managers and review the policy with each manager, as they interact regularly with the employees. They must also ensure that the managers adhere to the policies and be role models

for other employees. Train employees, bring awareness among the employees on the issues like sexual harassment, and update employees about the new policies. Listen to all the employees when they come with an issue. This helps the HR to know the cause for the compliance risk, mange those risks, and bring it to the notice of other employees of the organisation. Provide feedback to ensure employees meet the expectation. HR must also provide employees an opportunity to correct their mistakes. Document all the policies, key decisions, and employee evaluation. A copy of the policy must be given to every employee. The failure to document can leave the HR prone to non-compliance claims. Ensuring safe work environments Ensuring safety at workplace also involves: Diversity management: this involves managing diversity issues like gender, nationality, racism, physical appearance, and so on. The HR is responsible to develop and implement diversity plan as the employees approach the HR directly if they face any such issues. Dealing with HIV/AIDS in the workplace: This is to encourage people to support individuals suffering from HIV/AIDS. It also involves fighting and prevention against HIV/AIDS. Preventing violence in the workplace: The HR is responsible to prevent violence at work place such as threatening or employees killing their colleagues by implementing policies and procedures. Sustaining high-performing employees In todays market it is not only difficult to hire an employee but it is also difficult to sustain high performing employee. These days employees working for an organisation look forward for opportunities apart from benefits and compensation. The HR believe that most of the employees look out for other companies which can offer them better environment for growth, compensation and benefits. They believe that some look out for other companies which offer better friendly environment, where they can involve in decision process and be a part of the team. The amount of job stress and the disability to balance between work and home also forces the employees to leave their jobs. Employee retention is difficult to handle because there are many factors that affects it. The HR conducts surveys to know the reason why employees leave the job. They also conduct exit interviews to get a feedback from the relieving employees on the areas of improvement. The HR improves retention by improving the communication between the management and the employees. They also conduct training and provide development opportunities to retain the employees. The HR must make sure the candidate hired fits the job and the work culture. The HR must Recognise and understand the important retention drivers, but often many HR fail to realise these factors more than they understand them. The HR must make sure the employee values the work they do, which is important for