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TALENT

MANAGEMENT
What is talent management?
 Talent management is a process that emerged in the
1990s and continues to be adopted, as more
companies come to realize that their employees’
talents and skills drive their business success. These
companies develop plans and processes to track and
manage their employee talent, including the following:
 Attracting and recruiting qualified candidates with
competitive backgrounds
 Managing and defining competitive salaries
 Training and development opportunities
 Performance management processes
 Retention programs
 Promotion and transitioning

Why Talent Management?


 Workforce cost is the largest category spend
for most organizations. Automation and
analysis of your recruiting and hiring
processes provides the immediate
workforce visibility and insights you
need to significantly improve your
bottom line.

 Talent management requires strong


executive support, along with systems
and processes all directed towards having
the right talent doing the right work at the
right time. That’s when talent truly drives
higher business performance.

Benefits of implementing a talent-
management program

 Providing these resources helps your employees achieve


their best individual potential, and it helps your
business respond to challenges, enter new markets
and move ahead of the competition.  

A company with a talented and successful work force


can develop a public reputation for being a great place
to work, which
fosters loyalty among current employees. Talented
candidates will also be more interested in working for a
company that values its employees and gives them
opportunities for continued success.  
Strategies for talent management
Talent Management, usually referred as Human Capital Management, is the process
recruiting, managing, assessing, developing and maintaining an organization's most

important resource—it's people!

The typical strategies include:-

1. Merge talent management data by having incorporated exceptional capabilities in


 learning, performance, and compensation management software

2. Automate the talent management process into an online solution there by reducing
 time and costs of performance reviews.

3. Recognize and close employee performance gaps by instantly turning automated


 performances appraisals into training development plans.

4. Align training demand with performance needs and strategic goals directly there
 by reducing time and money spent on non-strategic training activities.

5. Eliminate conflicting evaluation criteria by applying a standardized solution that


 impose consistent language, feedback, and evaluation criteria

6. Use reliable, fair pay-for-performance initiatives


Purpose

Identifying star performers at various levels

Developing and Retaining them



Putting the Plan Into Action
 Identify the talent programs that correspond to
the recruit/develop/deploy/retain

v Recruit
 Internal / external recruiting, on-boarding programs
v Development
 Internal recruiting, learning and development,
performance management
v Retention
 On-boarding, learning and development, rewards and
recognition programs
v
Challenges of talent management

 Attracting and retaining enough employees at all levels to
meet the needs of organic and inorganic growth.
 Creating a value proposition that appeals to multiple
generations.
 Developing a robust leadership pipeline.
 Rounding out the capabilities of hires who lack the breadth
of necessary for global leadership.
 Transferring key knowledge and relationships.

CONTD…




 Redesigning talent management practices to attract
and retain Gen Y's.
 Creating a workplace that is open to Boomers in
their "second careers.“
 Overcoming a "norm" of short tenure and frequent
movement
 Enlisting executives who don't appreciate the
challenge.
The Financial Value of Talent Management

Increase Revenue
Customer satisfaction

Improve quality

Increase productivity

Reduce Cost

Reduce Cycle time

Increase Return to Shareholders

and Market Capitalization


Talent Management And HR

 Talent management suddenly evoked the charm and attention
for the business world. Much of the reason may be due to
the fact that technology has finally begun to catch up.
 Human resource management systems (HRMS) providers,
already present in many businesses, have begun to create
add-on applications that provide a strategic layer on top of
the more administrative HR functionalities they already
offer.
 It seems obvious then that the functions that make up talent
management can no longer be viewed independently, or
hidden in HR or training departments if they are to be truly
successful. Rather, talent management must be counterfeit
from a true partnership between management and the
departments that oversee the "people function.“
Conclusion

 Failures in talent management are mainly due to the
mismatch between the supplies and demand not due
to the failure in the concept.
 We need a new way of thinking about the talent
management challenge. Talent management is not an
end in itself. It is not about developing employees or
creating succession plans. Nor is it about achieving
specific benchmarks like a five percent turnover rate,
having the most educated workforce, or any other
tactical outcome.
 The goal of talent management is the much more
general, but the most important task of TM is to help
the organization to achieve its overall objectives.

Y O U
 THA N K

Team members
Deepali Pardeshi
Disha Dhanesha
Rajesh Kurmi
Chandan Nagar
Mohd Irshad Ansari