Make YourCompanyA Talent Factory

Submitted by:

1. Rizowana Arbina 15070092. Mahmudul Hasan 15070303. Mohammad Jubairul Hoque 15070314. Hanifur Rahman 15070445. Arpita Barua 1507054

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Causes of talent shortage Insufficient pipelineof high potentialemployees to fillstrategic positions. Companies' talentdevelopmentstrategiesare out of sync withtheir strategic goals. Senior executives lack a deep-seated commitment

to talent management.

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ResultAn astonishingNumber of CompaniesAre struggling to fillKey positions. ThisTalent shortage isputting an Enormousstrain on theirpotential to expandinto new markets.

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Methods used by leading companies

Ready and Conger identify the methods used by HSBC and P&G to win the war on talent by implementing functionality and vitality to retain and develop internal talent.

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Methods used by leading companies

Functionality:Rigorous talentprocesses thatsupport yourcompany'sstrategic objectives. Vitality: A passion for talent cultivation

among executives.

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Building FunctionalityProcesses to helpYou put the rightpeople with theright skills in theright place atthe right time.Help people understand your strategic

objectives. For example, financial services giant HSBC holds

conferences to educate employees about the firm's strategy for increasing cross-unit collaboration and to highlight collaborative initiatives.

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Building Functionality (Cont…)Groom people for complex, challenging jobs. Consumer productscompany P&G'sgrowth strategy waswinning the emergingmarkets. To helphigh-potentialemployees advance,the company movesthem through aportfolio of senior-leveljobs categorizedaccording to strategic challenges,size of the business, and complexity of the market.

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Fostering VitalityBuild commitment to talent development.P&G hires 90% of itsentry-level managersstraight fromUniversities and growstheir careers over time.It also sponsors acollege intern programthat offers participantschances to assume real responsibility by working on important projects.

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Fostering Vitality (Cont…)Encourage engagement.HSBC requires each unit to have a talent implementation strategy. These plans explicitly link a unit's growth objectives to its people development activities. The corporate head of talent works closely with each unit to develop its proposed strategy and presents the aggregated plans to the group head office, highlighting any talent gaps that could threaten the firm's growth objectives. This process keeps talent management high on the agendas of line and corporate leaders, and prevents them from getting distracted by seemingly more pressing problems.

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Fostering Vitality (Cont…)Ensure accountability.Hold all managers andexecutives accountablefor doing their part tomake talent processeswork. For example,P&G's CEO A.G. Lafleyclaims ownership ofcareer planning for allthe general managers, vice presidents, and talent pools involved in the company's top 16 markets, customers, and brands.

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Major FindingsThe secret weaponto internal talent isto focus yourtalent managementprocesses on aspecific strategicoutcome and toembed passion for development in the organizational culture.

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Major Findings (Cont…) The vitality of an organization is a product of

commitment, engagement, and accountability. Ultimately, talent management is not just a

leadership responsibility, it is a core business practice.

While the up-front costs of creating HR processes and aggressive development initiatives may be daunting for some, the cost of not building a talent factory can significantly impede organizational growth and success.

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