ms-talent management on 03.08
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TALENTMANAGEMENTIt takes talent to spot talent!
Submitted by:Rohan Kaple, Swapnil Kharde, Avinash Khirwar, Pranav Kolhe, Amey
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What is Talent?"Talent" is a term you hear in a variety of contexts.
It's used constantly in reference to
Celebrities: in show business, performers are oftenreferred to as "the talent." Sports analysts will talk about an outstanding
athlete's "raw talent." Grade-school kids impress audiences full ofparents at talent shows.
While the existence of talent agencies and talent
brokers implies that talent is a rarefied commodity,something to be bought and sold.
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Carefully examining and refining the concept oftalent may make it easier for you to recognize it inyourself and others, in order to make the most of itin your daily life. What is it, for example, thatdistinguishes talent from related -- but verydifferent -- concepts, such as competency or style?
For many recruiters, talent is synonymous withanyone who says yes. For others, it is any hirethat stays for six months or a year. And for stillothers, it is any hire that a manager finds
satisfactory.
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some define talent as those employees whosecontributions are vital to our ability to produce our
product or deliver our service. Excellent talent thenrefers to those who produce an above-averageamount of our product and poor talent means thosewho do much less than average. Sports teamsmeasure talent this way all the time. When a team
manager speaks of quality talent, he is talkingabout those individuals who make the most points,block the other team most often, or who the fansand players identify as essential for success.
Knowledge and skills can be learned, buttalent is enduring
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Talent reflects howyou're hard-wired.
Talent dictates yourmoment-by-momentreactions to yourenvironment. Talent results in
consistently recurringpatterns of thought orbehavior. To deviate from thosepatterns requiresconscious effort, and suchdeviations are difficult tosustain.
Talent Knowledge Skills
T
al
e
nt
Imply learned behavior,actions that require more
active cognitiveprocessing.
What you know revealsmore about your
experiences andeducation than about whoyou are at the core.
Behavior derived fromknowledge and skills canbe changed far moreeasily than talent-basedbehavior.
K
now
le
dg
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&S
kil l
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A tone deaf will never be able to appreciate themusic of maestros. Only a seasoned jeweler would
know that all that glitters is not real! And, onlythose who can recognize the worth of a diamondcan value it, for others it's just a stone!
Talent is doing easily what others find difficult.
philosophy
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What is Talent Management?
In an organization, there is nothing more crucial
than fitting the right employee in the right position.Or else you would be trying to fit a square peg in around hole. When people do jobs that just don't suittheir liking, inclination or temperament, the results,or rather the lack of them, will be disastrously
obvious. Low productivity, dissatisfaction, lowmorale, absenteeism and other negative behaviorwill become typical till the employee is shown thedoor. Or perhaps, there is another option
Talent Management.
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BenefitsThe Organization Benefits
Increased productivity and capability A better linkage between individuals' efforts andbusiness goals Commitment of valued employees Reduced turnover
Increased bench strength and a better fit betweenpeople's jobsand skills
Employees benefit
Higher motivation and commitment Career development Increased knowledge about and contribution tocompany goals Sustained motivation and job satisfaction
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1. Transparence about our Human Capital
2. Recognition & Development of performance andpotential
3. Long term Competitiveness
ther Important purpose:
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1. Talents do not respond well to command and control
style2. Talents need freedom and flexibility
3. Practice and foster a winning attitude
4. Allow participation in decision making
5. Use Talent based decision
6. Praise in public , Pan in private
7. Use total honesty
8. Focus on process not on result9. Be a friend not a boss
me points in managing talent
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nt Management System - Overview
Talent Management System
Design Talent FriendlyEnvironment
Design & Up gradationOf TMS
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Talent management system:Talent management system is a process to fit a rightcandidate in a right job & retention of talent.
Design Talent Friendly Environment:Create talent friendly environment
Design & Up gradation of TMS:Research & development of employee benefit policies
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Talent Friendly EnvironmentA winning organization management System hasnine element to build a talent friendly environment
where talent can be attracted and retained.
Customer FocusSystem
Participative management system
Constant Innovation system
Project team formation system
Employee development system
Human resource management system
Financial Support system
Performance And Satisfaction Measurement System
Change management system
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Talent Friendly Environment
cont.
1. Talent Satisfaction Measurement System
2. Talent Action Response System
3. Talent Management system
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Talent Friendly Environmentcont.
1. Participative management involves sharinginformation with employees and involving them indecision-making. Employees are encouraged torun their own departments and make decisions
regarding policies and processes. It has often beenpromoted as the quick cure for poor morale andlow productivity. It is not, however, appropriate inevery organization and at every level.
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2. Employees must have the skills and abilities toparticipate. Employees must have the technicalbackground, communication skills, and intelligence
to make decisions and communicate thosedecisions effectively. The organization's culturemust support employee involvement and theissues in which employees get involved must berelevant to them.
3. Representative participation allows workers to berepresented by a small group who actuallyparticipate. The goal of representativeparticipation is to redistribute power within the
organization. Employees' interests become asimportant as those interests of management andstockholders.
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Talent Friendly Environmentcont.Constant Innovation System
1. Innovation Institute
2. Implement six sigma
3. Benchmarking
4. Training
5. Idea seeding and cultivation fund
6. Champion process
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Talent Friendly Environmentcont.
1. XYZ management
2. Performance assessment and enhancement process
3. Career planning
4. Four Cs process
5. Talent scorecard
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Purpose of TMS
There are different systems in any company like HRMS
and ERP system which deal with transaction andadministration of basic human resource .
In a same way talent management system (TMS) focuson providing strategic assistance to an accomplishment
of long term goals organization in the accomplishmentof long term goals
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Good companies create a strong brand identitywith their customers and then deliver on thatpromise. Great employment brands do the same,with quantifiable and qualitative results. As aresult, the right people choose to join the
organization
Attracting talent
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Management should implement proven talent
selection systems and tools to create profiles of theright people based on the competencies of highperformers.
Selecting talent
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In the current climate of change, it's critical to holdonto the key people. These are the people who willlead the organization to future success, and you can'tafford to lose them.
The cost of replacing a valued employee is enormous.
Organizations need to promote diversity and designstrategies to retain people, reward high performanceand provide opportunities for development.
Retaining talent
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Notice what do employees do in their free time and
find out their interests. Try to discover their strengthsand interests. Also, encourage them to discover theirown latent talents
Recognizing talent
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1. Design a talent
management system
2. Unbiased reward andreorganization
3. Flexible work
environment and
positive culture
4. Proper training
5. Effective and
meaningful appraisalsystem
6. Design job for talented
people
7. Proactive visionary
management and
leadership
8. Provide proper
research facility
1. Compensate Talents as
suppliers
2. Right location to attract
and retain Talents
3. Assign right job to right
talent
4. Career and succession
plan
5. Balance age, race,
gender, color
6. Create challenging
environment7. Create social bond
through adventure,
sports, party, contest etc
8. Profit sharing plan
9. Eliminate non working
people
1. Establish effective
communication and
cooperation
2. Allow talent to create andapply knowledge
3. Build trust on talents
4. Set positive & constructive
challenge
5. Performing XYZ analysis
6. Monitor talent as assets
7. Set challenging business
goal
8. Take corrective action if
necessary
1. Identify own
talent before
hiring talent
2. Performancebased talent tool
3. Test based
4. Scorecard
entries
TMS
Attract Talent RecognizeTalent
SelectingTalent
RetainingTalent
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Steps to identify talents:
1. Select a jury : who examine evidence, vote and their strengths. Jury design a
scorecard.
Attributes Type of evidenceself score jury scoreInnate Skills
Intellectual strength
Creativity
Work hard
Work smart
Continuous learning
Passion for work
Passion for action
commited to enterprise.
.
.
.
.
.
.
talent scorecard
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Steps to identify talents cont
2. Selecting and understanding evidence: Two objective and two subjective
evidence
Talent subject
Boss + 1 or 2
CustomerSupplier
2 or 3 subordinate
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Steps to identify talents cont
3. Self scoring : Talent should make self assessment.
4. Jury scoring : Jury gives the score to talent on evidence
5. Average scoring of jury members
6. Analyze score : score shows whether weakness or strength
7. Normalize score to common scale:
Position =
Score
Maximum count
Scale range
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Steps to identify talents cont
9
8
7
6
5
4
3
2
1
Super talent
Strong talent
Talent
Watch talent
Average
Watch for improve
Questionable talent
Weak opportunity
No talent
Normalize score to common scale
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Talent management is a name for a human resourceprogram that applies to more than just computinghours and taking care of legal aspects of employment.
Rather, talent management applies to the strategy ofrecruitment and retention, compensation andassessment and review.
In some cases, talent management is a processhandled over multiple departments. In other cases, itmay be solely handled by human resources.
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Once the formal education is completed, people are highlylikely to be subject to an employment screening test. Theactual configuration of these types of assessment tests willvary between employers as well as from one industry to
another. Often, the employment tests seek to not only assessthe amount of knowledge the applicant possesses, but alsowhat type of people skills and work habits the applicant islikely to exhibit. In a sense, the employment screening testalso acts as a placement test, in that it will help determine ifthe applicant is right for a particular position within thecompany.
Assessment testing does not end once the applicant landsthat first job. Throughout the course of any career, there will
be opportunities for advancement. Often, assessment tests ofsome kind are utilized to determine if the individual has theskills and knowledge necessary to secure a promotion. One ofthe benefits of these tests is that the employee can use theresults to identify areas where there is a need to broaden the
skill set and knowledge base in order to earn a promotion at a
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Challenges solutions
Collision between talents
Talent FusionNot compatible with change Gross
root educationTalent development budget
Forecast return ontalent
Hiring and holding
Replacement cost
Training cost
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Return on talent (ROT) =
Knowledge generated and applied
Investment in talent
= Project value - project expenses
Investment on talent
Calculating ROT
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Conclusion
Talent is not a rare commoditypeople are talented in manyways: it is simply rarely released. To make talent happen,
organizations must give it strategic and holistic attention.
It's not simply a matter of finding the "best and thebrightest," it's about creating the right fit - both for todayand tomorrow.
A rightly managed talent turns out to be a Gold Mine. It'sinexhaustible and priceless. It will keep supplying wealthand value to the organization.
In turn, Management needs to realize its worth, extract it,polish it and utilize it. Don't hoard Talent- spend it lavishly,like a millionaire flashing his luxuries, because Talent isWealth!
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References
The Hindu (indias national newspaper)
What is talent and how we can measureit, by kevin wheeler
Talent management on wisegeek.com
Talent management related topics.
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Thank you
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