Workshop on Talent management16 Oct 2014

Part I

•SOME STATISTICS

Today’s Employees---

• Want a voice• Want to balance life and work• Are opportunity seeking• Are averse to transactional work activities• Want to know what is going on• Want freedom of choice

New realities in today’s workforce

• 25% global workforce looking for their next work• 45% talking to recruiters for their next job• 12% actively looking for a job• 13%casually looking a few times a week• 15 % talking to their networks• In India- 42% actively searching for new jobs.

Satisfaction levels

• 27% of employees are very satisfied• 45% are somewhat satisfied• 14% are neutral• 10% are somewhat dissatisfied• 4% are very dissatisfied

• Is satisfaction a guarantee of loyalty??

Most important factors in seeking or considering a job

• Greater opportunities for advancement• Better compensation and benefits• More challenging work• Better fit for skill sets• More learning opportunities

Other important factors

• Improved job title• Better office location• Equation with current team• Relationship with manager• Personal reasons

Factors influencing choice of company

• Company has a reputation as a great place to work in

• Reputation for great products and services• Reputation for great people• Reputation for being prestigious

An engaged employee---

• Is passionate about what he does• Constantly learns and grows at work• Comfortable promoting himself and his ideas at work• Very career focused• Actively seeks information that helps him fit better at his

job.

Top professionals----

• Engage in professional networking• Research ways to update skills and improve career path• Research new career opportunities• Apply for new job with current employer• consider starting new business/ venture

Implications for HR team

• Active engagement with prospective / current employees• Invest in strengthening talent brand• Take local attitudes into account• Don’t get complacent about current employees• Don’t sell a position on compensation and title alone• Don’t get put off by passive candidates

Source- Linkedin Global workforce survey 2014

PART II

•TALENT MANAGEMENT INPERATIVES

Systems Thinking

Mental Models

Personal mastery

Team learning

Shared Vision

The Five Disciplines of a Learning Organization

Peter Senge’s “ The Fifth Discipline”

WHAT ARE THE CHARACTERISTICS OF A TALENTED WORKFORCE?Is talent upwardly mobile? Why?

Categories of employees

• Super keeper• Keeper• Solid citizen• Misfit

Talent management

• Organizations commitment to recruit, retain and develop the most talented and superior employees in the job market

• The development and integration of Hr processes that attract, develop, engage and retain the knowledge, skills and abilities of employees that will meet current and future business needs business needs.

Org culture

sourcing

attracting

selecting

onboarding

integrating

developing

engaging

retaining

promoting

Talent management cycle

Stages of the Talent management Process

ENTRY• Recruitment• Selection• Orientation• Placement

RETENTIONCultureImmediate managerInvolvementPerson- environment fit

DEVELOPMENT• Competency Assessment• Development Opportunities• Mentoring• Challenges

PERFORMANCE• Role Clarity• Performance Agreement• Feedback• Recognition and Reward

Entry

• Anticipation of future workforce needs• Efficient recruitment programmes using various media/

sources• Testing systems• Employee referral• Orientation and onboarding

Retention

• Norms and values• 0

Four Steps to the Talent management process

Step 1- Develop assessment tools and scales

• Competency definition and measurement scale• Performance appraisal definition and measurement

scale• Talent potential forecast and measurement scale• Apply measurement scale to each job

Step 2- Develop Training and Development Application Tools• Coaching Guide• Assemble directory of best training programmes , top

books

Step 3- Evaluate each employee using assessment tools

Step 4- Prepare action reports• Create bench strength summary• Create Individual talent competency development forms

List of Competencies

• Action Orientation• Communication• Creativity/ Innovation• Critical Judgment• Customer Orientation• Interpersonal Skill• Leadership• Teamwork• Technical/ Functional Expertise

Talent management Strategies

• Coaching for retention• Outsourcing and outsourcers• Succession planning• Developing leadership through competencies• Employment branding strategies

Challenges in Talent management

• Plateaued Careers• Glass ceilings• Retirement/ Transition Planning• Outplacement Programmes