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This document discusses talent management strategies for an organization with multiple businesses. It outlines three horizons for growth and emphasizes attracting, retaining, and developing the right talent. The key points are:
1) The organization aims to become a leader in its Indian and global markets by focusing on three horizons - defending current business, blending skills across businesses, and creating new capabilities.
2) Retaining talent requires offering growth opportunities. New businesses can succeed if incubated within larger, established businesses, providing early leadership experiences.
3) Managing talent across diverse businesses requires a balance between retaining high-potential employees and experienced "solid citizens". The employee value proposition focuses on world-class experience, growth opportunities, and empowerment
This document discusses talent management strategies for an organization with multiple businesses. It outlines three horizons for growth and emphasizes attracting, retaining, and developing the right talent. The key points are:
1) The organization aims to become a leader in its Indian and global markets by focusing on three horizons - defending current business, blending skills across businesses, and creating new capabilities.
2) Retaining talent requires offering growth opportunities. New businesses can succeed if incubated within larger, established businesses, providing early leadership experiences.
3) Managing talent across diverse businesses requires a balance between retaining high-potential employees and experienced "solid citizens". The employee value proposition focuses on world-class experience, growth opportunities, and empowerment
This document discusses talent management strategies for an organization with multiple businesses. It outlines three horizons for growth and emphasizes attracting, retaining, and developing the right talent. The key points are:
1) The organization aims to become a leader in its Indian and global markets by focusing on three horizons - defending current business, blending skills across businesses, and creating new capabilities.
2) Retaining talent requires offering growth opportunities. New businesses can succeed if incubated within larger, established businesses, providing early leadership experiences.
3) Managing talent across diverse businesses requires a balance between retaining high-potential employees and experienced "solid citizens". The employee value proposition focuses on world-class experience, growth opportunities, and empowerment
Developing Talent to Enhance Organizational Capability The Context A multi-business enterprise Each of our businesses must become leaders in the Indian global market by 2005 Each business must become globally competitive by 2010
The 3 Horizons How do we grow the topline and the bottomline on a sustained basis How do we invest for the future while delivering value for the shareholder in the near term How do we strategize to put in place engines of growth for the future Horizon 1 Defend & expand current products, markets, capabilities Horizon 2 Blend skills & competencies residing in different businesses to create new businesses Horizon 3 Create new capabilities for viable businesses in future. Time Profit Our Growth Strategy The Context We live in an Era of Uncertainty India has not yet experienced the full impact of globalisation but the complexion will change dramatically at 32 o F Our context makes Talent Management a strategic priority People are not your most valuable asset.. The RIGHT people are
Jim Collins To attract the RIGHT people we need to offer them a unique Employee Value Proposition Exposure to world class manufacturing & the opportunity to work with Indias most valuable brands Opportunity to grow into business leaders through cross functional & multi business exposure Early opportunities to manage SBUs / Divisions
Value add to self at a rate faster than competition Head room and elbowroom to actualise and demonstrate potential Broad canvas to experience different businesses under the same umbrella The ITC Employee Value Proposition Incubating Talent A multi-business enterprise operates in some industry segments which may not be as attractive as others The challenge therefore, is to attract talent across diversified businesses Incubating talent in attractive businesses is a useful strategy to attract talent across businesses Growth is a pre-requisite Talent can be retained with growth opportunities Growth opportunities depend on business growth New businesses are more likely to succeed if incubated in larger, more established businesses New businesses provide opportunities for business leadership early in ones career Retaining talent and growing your business are therefore interdependent Growth is therefore a pre-requisite The Delicate Balance Hi-potential talent is not always easily available. Often, established businesses need to release hi- potential talent for new business growth This is possible if established businesses can fall back on their solid citizens. Managing solid citizens and Specialists is as important as managing hi-potential talent Therefore, a delicate balance needs to be struck This balance is unique to the organization. There is no simple formula available The Importance of feeling ENGAGED Companies do not retain people People decide to stay They decide to stay when they feel engaged Engaged employees stay longer
Feeling engaged depends on the strength of the workplace not necessarily on the corporate leadership
- Buckingham & Coffman, First Break all the Rules The 12 Questions Clear Expectations: Do I know what is expected of me at work? Resources: Do I have the resources I need to do my work? Opportunity: Do I have the opportunity to do what I do best? Recognition: Have I been recognised or praised for doing good work? ..the 12 questions Care & Concern: Does my boss seem to care about me as a person? Development: Is there someone at work who encourages my development? Participation:At work, do my opinions seem to count? Purpose: Does the mission of my company inspire me and make me feel I am adding value? ..the 12 questions Quality: Are my co-workers committed to doing quality work? Camaraderie: Do I have a best friend at work? Appraisal: Does someone talk to me about my progress periodically? Learning: Do I have opportunities at work to learn and grow? If employees can answer positively to all 12 questions, then you have built a GREAT place to work The answers to more than half these questions lie with the Boss The Boss is key The Boss - not pay or perks, or a charismatic corporate leader - is the key player in building a strong work place Often, people leave managers, not companies. No talent retention strategy will work if we do not have the right managers in place. Managers who nurture and mentor Dream Create Explore Invent Pioneer Imagine Are we creating a nurturing environment for our people to
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