final talent management
TRANSCRIPT
TALENT MANAGEMENTEffective and Future Strategies
ByHARSHIT BHAVSAR
LEAD to WIN – Discover the leader withinwww.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 BhavsarLEAD to WIN
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
Synopsis
Understanding Talent Management and
The Global Scenario
www.leadtowin.inLEAD 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.”
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
Source: U.S. Bureau of Labor Statistics
Labor Force Growth RatesPercentage Change
(projected 2002-2012)
Labor Force Percentage Change By Age Group
(projected 2002-2012)
65 +
55 to 64
45 to 5435 to 44
8%
16 to 24
Total
19%
11%- 9%
25 to 347%
12%
44%
10%
0
20%
30%
16-24 25-34 35-44 45-54 55+
20022012
Labor Force Make-Up Percentage Change By Age Group
(projected 2002-2012)
Total
White
Black
Hispanic
Asian
12 %
8.5 %
19.3 %
50.8 %
32.6 %
Labor Force Growth RatesPercentage Change
(projected 2002-2012)
Labor Force Percentage Change By Age Group
(projected 2002-2012)
65 +
55 to 64
45 to 5435 to 44
8%
16 to 24
Total
19%
11%- 9%
25 to 347%
12%
44%
10%
0
20%
30%
10%
0
20%
30%
16-24 25-34 35-44 45-54 55+
20022012
Labor Force Make-Up Percentage Change By Age Group
(projected 2002-2012)
Total
White
Black
Hispanic
Asian
12 %
8.5 %
19.3 %
50.8 %
32.6 %
Developed Markets - Aging Workforce + Less skilled workforce = TALENT CRISIS
Understanding Talent Management & The Global Scenario
Emerging Markets - Wage inflation and attrition Can these be an alternative labor market ?
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
– 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.
Why Talent Management ?
Understanding Talent Management & The Global Scenario
Talent Management Equals
Integration Management
www.leadtowin.inLEAD to WIN – Discover the leader within
Talent Profiles
and Objectives
Elements of Talent Management
Talent Management - Integration Management
• 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” ?
Key Questions for Policy Makers
Talent Management – Integration Management
Integrated Talent Management
Talent Management – Integration Management
POWERHUNT
INNOVATION MOMENTUM TECHNOLOGY
An in-house Recruitment / Talent Management software driving over all Business Strategy with inbuilt business intelligence.
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.
Who can benefit from it?
What is POWERHUNT?
Talent Management – Integration Management
INNOVATION MOMENTUM TECHNOLOGY
Talent Management – Integration Management
Building Sustainable Leadership And
Futuristic Talent Management Strategy
www.leadtowin.inLEAD to WIN – Discover the leader within
Talent Management - Simplified
Talent
Growth
Talent Management = Growth Management
Building Sustainable Leadership &Futuristic Talent Management Strategy
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
Talent Management - Simplified
Building Sustainable Leadership &Futuristic Talent Management Strategy
• 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 best……Focus on the rest.
Building Sustainable Leadership &Futuristic Talent Management Strategy
Key Questions for Policy Makers
Traditional Talent Management
Building Sustainable Leadership &Futuristic Talent Management Strategy
Futuristic Talent Management
Capability AlignmentCommitmentEnhanced Performance
Focus: Managing Best Positions
Focus: Managing Best People
Talent Acquisition, Engagement and Retention
www.leadtowin.inLEAD to WIN – Discover the leader within
“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
Talent Acquisition
Individual Organization
PersonalityValues
ExpectationsKnowledge
Skills
Interests
Strategies
Obje
ctiv
es
Values
Culture
RewardsManagement
StructureAbilities
Goals
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?
Engagement
Organisational Commitment Service Commitment
Work & Career Commitment Job Satisfaction
Talent / Employee Engagement
Who are your competitors?
Colleagues / partners within the organization looking for another job
Talent Retention
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?
Source : Hudson / Vlerick Hipo Research Study
Talent Retention
Critical Elements of Attracting and Retaining TOP Talent
Talent Retention
Inclusive Growth
Talent Retention
“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.”