TALENT MANAGEMENT

Effective and Future Strategies

By HARSHIT BHAVSAR

LEAD to WIN Discover the leader within www.leadtowin.in

The thin line between dream and vision is EXECUTION

Success is not before failure but beyond failure

When you find a leader, follow; & When you identify a leader within, LEAD
-Harshit Bavsar

LEAD to WIN

Synopsis

1) Understanding Talent Management and Global Scenario

2) Talent Management Integration Management

3) POWERHUNT Real-life example of Integrated Talent Management

4) Building Sustainable Leadership and Futuristic Talent Management Strategy

5) Talent Acquisition, Engagement and Retention

Understanding Talent Management and The Global Scenario

www.leadtowin.in
LEAD to WIN Discover the leader within

Our assets walk out of the work place every night, and Our job is to ensure that they love coming back every morning.

Understanding Talent Management & The Global Scenario

TALENT
The sum of a person's ability to learn and grow

TALENT MANAGEMENT
Talent management refers to the skills of attracting highly skilled / profitable / performing workers, of integrating new workers, and developing and retaining current workers to meet current and future business objectives.

Understanding Talent Management & The Global Scenario

Global Talent Scenario - Demographic shifts in the workforce
Developed Markets - Aging Workforce + Less skilled workforce = TALENT CRISIS

Emerging Markets - Wage inflation and attrition Can these be an alternative labor market ?

Labor Force Make-Up Percentage Change By Age Group

(projected 2002-2012)
30% 2002 2012

Labor Force Percentage Change By Age Group

(projected 2002-2012)

Labor Force Growth Rates Percentage Change

(projected 2002-2012)

65 + 55 to 64

19% 44% 11% 35 to 44 8% 7% 12%

Total White Black Hispanic Asian

12 % 8.5 % 19.3 % 32.6 % 50.8 %

20%

45 to 54 - 9% 25 to 34

10% 0

16 to 24 Total 16-24 25-34 35-44 45-54 55+

Source: U.S. Bureau of Labor Statistics

Understanding Talent Management & The Global Scenario

Global Talent Scenario - What is likely to happen?
Automation, reengineering, innovation, high-yield based jobs in developed Markets. Out sourcing of work from developed to emerging markets. Companies migrating to developing countries. Higher growth rates in emerging markets adding to demand. Unmanaged immigration to developed countries Technology and information penetration adding to transparency & instability Diminished ambitions and enhanced expectations, dissatisfaction and instability. Birth of entrepreneurial opportunities but scalability a challenge Talent Management a GLOBAL challenge: Talent Crisis

How to WIN in this environment? 1) INNOVATION 2) MOMENTUM 3) TECHNOLOGY

Understanding Talent Management & The Global Scenario

Why Talent Management ?

Create Strategic Recruitment Plans to attract the best talent. Identify and develop LEADERS at all levels. Create great places to work - attract & retain the best talent. Direct the positive energy of people to the right areas.

Talent Management Equals Integration Management

www.leadtowin.in
LEAD to WIN Discover the leader within

Talent Management - Integration Management

Elements of Talent Management
Talent Planning Measure and Report Analyze Plan Recruiting

Succession Planning

Lead

Talent Profiles and Evaluate Objectives

Performance Management

Advance Compensation Management

Develop Learning & Development

Career Planning

Talent Management Integration Management

Key Questions for Policy Makers
Who are our top performers? How to hire and develop more people like them?

Are there Enough of them? Crisis Management? Replacement? Business Growth?

Are we Retaining the best employees? Where did we recruit them from? Is there a clear Growth / Succession plan for them ? Is there a two way Communication with them? Do workers have the Skills needed to achieve the performance goals? Are the Learning Initiatives positively impacting performance?

Where is the talent Demand outpacing Supply?

How much of the Turnover impacts Customers, Productivity, Innovation, Quality. What are the Financial consequences of talent decisions on our business? Is anyone in the Boardroom worried about the status of the talent pool ?

Talent Management Integration Management

Integrated Talent Management
Measure and Report Competency Management Career Planning Talent Planning Compensation Management Y Y Y Y

Learning and Development

Performance Management

Recruitment

Who are our top performers? How can we hire/develop/retain them?

Y Y Y Y

Y Y Y Y

Y Y Y Y

Are we retaining the best workers?

Where did they come from? Do workers have the SKILLS needed to achieve performance goals?

Succession Planning Y Y Y Y

Talent Management Integration Management

POWERHUNT
What is POWERHUNT? An in-house Recruitment / Talent Management software driving over all Business Strategy with inbuilt business intelligence.

Who can benefit from it? It can be used by any recruitment consulting firm as well as by the recruitment division of any organization. Its modules are custom designed based on the clients needs.

INNOVATION

MOMENTUM

TECHNOLOGY

Talent Management Integration Management

Business Strategy Module Business Parameters Input Module Organization Structure / Divisional Structure Learning and Development Industrial and Functional details with sample and live JDs Business Intelligence (Auto/Manual)
Job allocation / Search / Invoicing / Payroll / Attendance / Taxation / Incentive / Revenue Sharing / Legal / mailers (thank you, confirmation, interview information etc)

Admin Branch Head / Product Head Team Leader Business Development / Coordination Talent Search Franchise Management Finance / Admin Client Module

Transparent Performance and Compensation Management Short-term (daily) /long term / Across levels and functions Business Analytics Output module Short-term (daily) /long term Central Data / CV management. Linked to main website Crisis Management Business Development Coordination / Talent Search

Franchise Partners Module

INNOVATION

MOMENTUM

TECHNOLOGY

Building Sustainable Leadership And Futuristic Talent Management Strategy

www.leadtowin.in
LEAD to WIN Discover the leader within

Building Sustainable Leadership & Futuristic Talent Management Strategy

Talent Management - Simplified

Talent

Growth

Talent Management = Growth Management

Building Sustainable Leadership & Futuristic Talent Management Strategy

Talent Management - Simplified Talent Management is about
SUSTAINABLE INCLUSIVE GROWTH (Begin with the End = Well defined Business Model)
INCLUSIVE VISION Organizational SYNC Individual Developing Leaders

What do you require to implement Talent Management?

People (Mindset) Processes (Practices) Technology

Building Sustainable Leadership & Futuristic Talent Management Strategy

Key Questions for Policy Makers

Do we have enough leaders (quantity & quality) to execute ongoing and future business? Are current Leaders accountable for the cultural strategies supporting business goals? Is there any inbuilt mechanism to identify potential leaders across the organization early in their careers? Do we assess our high potential talent from the leadership perspective? Do we systematically accelerate the development of high-potential talent and improve the quality of executive leadership? Do we focus on growing better leaders at all levels from the first line upwards?

Invest in the bestFocus on the rest.

Building Sustainable Leadership & Futuristic Talent Management Strategy

Traditional Talent Management

Acquire

Develop

Deploy

Retain

Focus: Managing Best People

Futuristic Talent Management

Acquire

Develop

CONNECT
Capability

Deploy

Retain

Commitment

Enhanced Performance

Alignment
Focus: Managing Best Positions

Talent Acquisition, Engagement and Retention

www.leadtowin.in
LEAD to WIN Discover the leader within

Talent Acquisition

Organizations need to get the right people on the bus and in the right seats to succeed. Good coaching, training, mentoring, etc., is not likely to make up for bad selection. Hire hard.Manage easy!

- Collins, J. (2001). Good to great.

Talent Acquisition

Individual

Organization

Talent / Employee Engagement

Employee Engagement is inversely proportional to stress.

Effort without distress (Engagement) Working harder and deriving satisfaction

Distress without effort (Disengagement) Giving up and feeling bad about it

Effort with distress (Strain) Working harder but with fatigue and anxiety

Talent / Employee Engagement

What drives it?

Organisational Commitment

Service Commitment

Engagement

Work & Career Commitment

Job Satisfaction

Talent Retention

Who are your competitors? Colleagues / partners within the organization looking for another job

Every partner / employee asks few key questions

Am I working for a winning organization? Can I get my day-to-day job done effectively? Am I treated well? Is my work enjoyable and fulfilling?

Talent Retention

Source : Hudson / Vlerick Hipo Research Study

Talent Retention Critical Elements of Attracting and Retaining TOP Talent

Constructive Relationships at Work Workplace Flexibility

Culture of Respect and Inclusion

Wellness, Health and Safety

ATTRACTION RETENTION

Opportunities for meaningful work

Benefits, Compensation are Fair and Attractive

Learning and Development

Provision of Employment is Secure and Predictable

Talent Retention

Engaged and Motivated Workforce

Productivity Increase

Inclusive Growth

Business Growth

If you want 1 year of prosperity, grow grain. If you want 10 years of prosperity, grow trees. If you want 100 years of prosperity, grow PEOPLE.