TALENT MANAGEMENT

PRESENTED BY:

MICHELLE I. HERRERAM.P.S. – PUBLIC ADMINISTRATION

DEFINING TALENTTalent  - consists of those individuals who can make a difference to organizational performance either through their immediate contribution or, in the longer-term, by demonstrating the highest levels of potential.

According to McKinsey, talent is the sum of a person’s abilities, his or her intrinsic gifts, skills, knowledge, experience , intelligence, judgment, attitude, character, drive, his or her ability to learn and grow

useful term when it describes an organization's commitment to hire, manage and retain talented employees.

(HUMAN CAPITAL MANAGEMENT)

STAGES INCLUDED IN TALENT MANAGEMENT

STAGES INCLUDED IN TM Understanding the requirement :

determine the requirement of talent (developing job description and job specifications)

Accounting AssistantFEDERAL LAND, INC.

Job Requirements:• College graduate of BS Accountancy• CPA is preferred• 1-3 years work experience in accounting• Real estate background is preferred but not

required

Job Description:• Responsible in handling cost per project• Tracking of construction cost per project• Monitors actual project construction cost against budget per project• Coordinates with the accounts payable team to ensure that all billings are paid on time• Need to develop and enhance cost per project reporting• Work with Project Managers on billing verification for project charging• Does administrative tasks assigned by immediate superior

STAGES INCLUDED IN TM Sourcing the Talent: targeting the best

talent of the industry (Searching for people according to the requirement)

Attracting the Talent: it is important to attract the talented people to work with you as the whole process revolves around this only.

“Good compensation awaits for theRight candidates”

STAGES INCLUDED IN TM Recruiting the Talent: The actual process

of hiring starts from here. This is the stage when people are invited to join the organization.

Selecting the Talent: Candidates who qualify this round are invited to join the organization.

STAGES INCLUDED IN TM Training and Development: they are

trained and developed to get the desired output.

Retention: Retention programs focus on the relationship between management and their worker.

Employees once being trained have a tendency to move to other organizations for better prospects.

STAGES INCLUDED IN TM Promotion: Job enrichment plays an important role

Performance Appraisal: Measuring the actual performance of an employee

STAGES INCLUDED IN TM Career Planning: If the individual can handle the

work pressure and extra responsibilities well, the management needs to plan his or her career so that he or she feels rewarded.

Succession Planning: developing potential future leaders or senior managers who will replace whom in near future.

Exit: when an individual gets retired or is no more a part of the organization.

• Right Person in the right Job:  the right person is deployed in the right position and employee productivity is increased.

BENEFITS OF TALENT MANAGEMENT

Contd..• Retaining the top talent: Retaining top

talent is important to leadership and growth in the marketplace. Organizations that fail to retain their top talent are at the risk of losing out to competitors.

“Employees want to feel valued”

Using Non-Monetary Rewards to Retain Top Talent

Using Non-Monetary Rewards to Retain Top Talent1) Verbal Praise - They also give praise  or even a simple thanks when someone does a good job. This is sincere praise and thanks, not just given as a matter of fact.

2) Achievement Awards - These achievement awards are earned and not everyone can get.

Using Non-Monetary Rewards to Retain Top Talent3) Learning and Development - This might include giving them some time off to attend classes, bringing a topic expert in to speak to a group, allowing them to attend a workshop, have an on-line training program they can complete, or encouraging involvement in professional association and trade associations

4) Fun and Recreational Events - Some examples include, a putting contest in the office, a lunch out etc. To the workers this is worth making a few dollars less because they enjoy the people and their efforts are recognized.

REASONS TOP TALENT LEAVES

1. They don't feel appreciated

Companies lose sight of their employees' value. Employees express good fortune at being employed, but they also express a desire to belong to an organization that cares about their well being.

“People need jobs, can easily replace by everyone”

2. They aren't innovating

Businesses should talk with their employees to learn about how they can contribute to these new opportunities and provide them with training to work in these new, exciting arenas.

3. They aren't properly trained

Employees want to be set-up for success and not failure. A lack of training often results in unnecessary errors, reprimands and low employee morale.

4. They feel like they're in a toxic work environment

Employees leave when they perceive their work environment as an unhealthy one. Managers and employees must learn how their words and actions can set the tone for an unhealthy workplace, how to determine whether their department is on the verge of toxicity and how to implement techniques to boost morale and foster a healthy workplace.

5. They don't have work-life balance

Employees dislike when work bleeds into their personal time. When workers feel there is no balance between work and home, and they are always on call miss out on touching moments in their family members life, they will likely quit regardless of financial compensation.

Talent Edge - InfosysPeoplesoft - Oracle

SOME TM SYSTEMS

Addresses the entire HR lifecycle helping companies their HR Processes and reduce operational costs. Their flat form is build on Oracles industry-leading PeopleSoft Human Capital Management Suite.

• Campus Hire - More and more companies are focusing their attention on campuses to add human capital to their organizations and to lure the younger generation to replace the retiring baby boomers. 

PROBLEM FINDING THE RIGHT TALENT

• Talent War: Finding and retaining the best talent is the most difficult aspect of HR management.

• Technology and Talent Management: Technology is increasingly getting introduced into people development..

RECENT TRENDS IN TM

• Promoting Talent Internally: An individual is hired, when there is a fit between his abilities or skills and the requirements of the organization.

• Population Worries Globally: World populations are either young or aging. Still more researches have predicted that demographic changes in United States will lead to shortage of 10 million workers in the near future!

• Talent Management to rescue HR : HR has been compelled to focus on qualitative aspects equally and even more than quantitative aspects like the head count etc. through talent management more effort is now being laid on designing and maintaining employee scorecards and employee surveys for ensuring that talent is nurtured and grown perpetually.

• Increase in Employer of Choice Initiatives: An organization’s perceived value as an employer as helps improve its brand value in the eyes of its consumer. Most importantly it helps it attract the right talent.