stm-t m module 1

7/25/2019 STM-T M Module 1

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Module ITalent Management: Meaning and significance of talentmanagement. Aligning HRM goals to business, attractingtalent, retaining talent, becoming the best employer byemployer branding activities, inculcating performanceculture, right sizing the or!force, or! life balance

initiatives, providing HR leadership to business.


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Talent - the sum of a person's abilities and his or herability to learn and grow.

The term was coined by David Watkins as Theprocess of attracting and retaining protableemployees as it is increasingly more competitivebetween rms and of strategic importance has cometo be known as !the war for talent!

Talent "anagement enables organi#ations to rapidly

align develop motivateand maintain a high-performance labor force. They also alleviate thehassle of writing performance reviews by automatingthe task and ensuring $uality of reviews and reviewedon time.

%&T(D)*T%(&


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+ conscious deliberate approach undertaken toattract develop and retain people with theaptitude and abilities to meet current and future

organisational needs.

T+,&T*("/T&*0*(""%T"&T0*(&T%1)T%(&

%&T(D)*T%(&


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Did you think about how any of your staff areo!ened to work soewhere else" #ell$ at any one

tie ore than %%& of your e!loyees will bewelling to leave you'''


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A set of business !racticesthat anage the

!lanning$ ac(uisition$develo!ent$ retentionand advanceent oftalent in order to achieve

business goals ando!tii)e !erforance'

Nothing is as important as Identifying, Training and Holding ontotalented people Jack Welch


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#hen business needs are high$ !eo!le with arange of talents are added' *owever$ #hen

business eases$ talent needs dro! and workforcereductions and hiring free)es are coon

res!onses


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Understanding requirement

Training & Development

Retention

Selecting Talent

Attracting Talent

Sourcing talent


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Competenc mapping

Training & Development

!"it

Succession planning

Career planning

#er$ormance appraisal


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+Right !erson in the right ,ob'+ Retaining the to! talent'

+ -eadershi! and .high !otential e!loyee/develo!ent'

+ 0erforance anageent'+ #orkforce !lanning'

+ Culture'

+1urture and develo!ing of !eo!le'+ Involves individual and organi)ationdevelo!ent'

+ Deliberate a!!roach undertaken'

+ 2inancial benefits'


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(12*T%34 (5 T+,&T"+&+6"&T

*apture the right talent and convert them toorgani#ation assets

%dentify various upcoming challenges of talentmanagement

stablish upcoming trendsin talentmanagement.

%dentify the ways to retainthe best talent.


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%ncreasing

EmployeeSatisfaction

WorkerProductivity

Learning

Eectiveness Service Levels

educing

EmployeeTurnover

Absenteeism.

Ne !ires.


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+TT+*T%(&

4T+T6%4 Employer branding

Employer of choice

Targeted recruitment and selection


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T+,&T +*7)%%&6

4T+T6%4


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%&T&+, 4T+T6%4


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8T&+, 4T+T6%4


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%uild a Winning !nvironment that people ant to

'elong to

!sta'lish a Talent (anagement (indset) hich em'eds

*nership and Accounta'ilit $or *ptimising Talent

and #otential

Create Tangi'le (eans to +denti$) select and deplo

people o$ *utstanding Talent

,ull !ngage Talent) use it and manage itIntelligently


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T&T%(&4T+T6%4

Factors aecting retention

Risk analysis

Analysis of reasons for leaving

Areas for action


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Change*rgani-ation

Culture

(anagingSuccession

SelectingTalent

AttractingTalent

RetainingTalent

Recogni-etalent

WA.S T* R!TA+/(A/A0!TA1!/T

"A#$ T% R&TAI' MA'A(& TA)&'T


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Plan

+ AlignWork$orceto Strategic*'2ectives

+ Retain TopTalent

Instruct

+ #rovideTraining

+ !na'le0lo'al1earning

Reward &

Promote

Give Suitable

Compensatio

n and

Rewards

1earning Retention

Career #rogression


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+,%6&%&6 1)4%&44

4T+T6%4 W%T9 T9 94T+T6%4 /erformance planning and

valuation: )niform ; standardprocedures: 6rowth add value

4trategic "anpower planning:

4trategic ecruitment ; 4election

"apping Talents: Develop nurtureand retain skill inventories

Training ; Development activities.


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34ecuting talent anageent strategy

5eing custodians of the talentanageent !rocess

0roviding guidance and fresh thinkingabout talent anageent !rogras


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Current

Required Job Skills

rgani!ationalb"e#ti$es

%orkfor#e&ompeten#ies

AlignDevelopmentith /eeds

Close 0aps &(onitor

#er$ormance

+mproveCritical

Competencies

,uture

Required Job Skills

Competenc0ap


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Su!er 6ee!ers

A very sall grou! of individuals who have deonstrated su!erioracco!lishents$ and who ebody the core co!etencies andvalues of the organisation


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6ee!ers

Those who 34ceed 3!loyee 34!ectations

Solid Citi)ens

Meet 7rganisational 34!ectations

Misfits

Thosewho fall below 7rganisational34!ectations


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"/,(


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"/,(s desires

What drives their sense of engagement orcommitment.

1etter understand the attributes which arelikely to attract.


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"/,(


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"/,(


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"/,(


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%&*),*+T%&6 /5("+&*


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%&*),*+T%&6 /5("+&**),T) *ulture is the learned assumptions on which people

base their daily actions.

(perating system! organi#ational D&+. %ntrinsic to organi#ation culture. "anaging the performance of organi#ations teams

and individuals. ,eadership and discipline are the dening elements

for performance culture. 6o beyond conventional way of employee-employer

relation. %nsanely LmadlyM dedicate to the success

&ot successfully implemented or takes too longN %nsuch cases the reason is the absence of aperformance culture.


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%&*),*+T%&6 /5("+&**),T)

%uilding blocks of a performance culture 1asis for performance culture is discipline it

recogni#es that clear boundaries. +ccountability. Decisiveness and standards of eOcellence *ommitments and eOpectations are clear. (penness and trust: 4peak reduces

defensiveness. "anaged di?erences: conPict are dealt with.

)nfullled commitments are eOposed. 6o

beyond safe talk 4implicity and focus: a#or sharp focus on

implementation. /laying to people's strengths:

)nderstanding closing gap.


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(, (5 ,+D49%/ %& 9%69


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(, (5 ,+D49%/ %& 9%69/5("+&* (6+&%Q+T%(&

&ot reside only at the top of the organi#ation.

,eadership must be combined with strategyR it must beongoing consistent and grounded in on-the-Bob learning.

9ighly disciplined organi#ation that has clearaccountabilities and demands results.

Leaders ill 'ave clarityregarding to lead(organi)ation strategy and c'ange* self* t'eir peopleand teams* t'eir organi)ation and t'eir results.

Essential ingredients of leaders'ip as follos(

Taking and managing accountability bringing consensus.

*onstantly sensing and assessingthe eOternal and internalenvironments

(, (5 ,+D49%/ %& 9%69


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(, (5 ,+D49%/ %& 9%69/5("+&* (6+&%Q+T%(& Essential ingredients of leaders'ip as follos(

&egotiating clear eOpectationsand goals. (ngoing feedbackcoaching and follow up.

+re insightful and self-aware. +dopting a coaching style of leadership.This strengthens and

supports coherence communication collaboration . *reating supportive healthy cultures which attract and retain

talent.+reating a performance culture ,troubles in practical

implications- 6et rid of traditional performance appraisals !as e kno

t'em. *omplete the total process by e#pectationsetting* ongoing feedback and coac'ing* and progress .

Deal with performance management 'olistically. !discover 'at is uni/ueabout each person and then

capitali#e on it!.


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"01!TS020N1 T!E


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"01!TS020N1 T!EW3"453"+E /rocess of monitoring and adBusting the composition of

the organi#ation>s workforce to its optimal si#e.

,ogical process of assessing the eOisting staSng levels

Tool to remove eOcess workforce reduce 9 costimprove organi#ation tness and enhance marketcompetitiveness

eorgani#ing or restructuring their business by cost-cutting reduction of workforce or reorgani#ing upper-level management.

The goal is to get the company molded properly to

achieve the maOimum prot..

!The company felt that rightsi#ing was necessary afterfour $uarters of losses.!

"01!TS020N1 T!E


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"01!TS020N1 T!EW3"453"+E ightsi#ing means downsi#ing the employee strength

through planned elimination of Bobs .

/roactive approach rather than it is reactive approach .

/rocess by which organi#ations determine and maintainonly %69T "/,(


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Voluntary early retirements Reducingnumber of organization

layers

Across the board layoffs Considering interdependent

relationships before cutting positions.

Eliminating Training & Development

activities

Asking for appropriate size of

orkforce

!verly deep orkforce reductions "dentifying high potential members and

monitor their development #lacing orking in a $ob hich they do

not have training

#rotecting education and training fund

%ore emphasize on accountability than

on involvement.

Emphasize strong leadership

Epecting the orker ho remain toork hard

Decentralizing operations andempoering retained employees.

"mplementing layoff in a gradual'

incremental manner

Emphasize team development over

individual effort

Emphasize high monitory reard for

career development

"dentifying and protecting core

competencies


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W3"4 L05E %ALAN+E

1alance between work and their private lives.

The two sides of the same coin and balancing themis the an art.

%ncreasing workpressures impactof globali#ation

and technological advancement. Work life and personal life are inter-connectedand

interdependent.

1alancingpointon the seesaw.

motionalintelligenceis re$uired to maintain abalance between private and professional.

/erson>s control over the responsibilitiesbetween

their work place family friend and self.


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W3"4 L05E %ALAN+E Work life balance policies.

ssential for proper managementofresults.

1enets of Work life balance.

educed sta? turnoverrates

1ecoming a good employer or an employerofchoice

educed absenteeismand sicklife

%mproved moraleor satisfactionand improvedproductivity.

educed 4tress burnout.

%ncreased Bob satisfaction.

%mproves concentration


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W3"4 L05E %ALAN+E0N0T0AT06ES

Work75amily %alance initiatives

0. 0nitiatives for employers8organi)ations(

*reate a culture that is supportive of work family U from thetop.

/rovide work family sensitivitytraining.

,imitthe number of workinghourseach week.

liminate4aturdayworkor provide alternate 4aturdayso?.

/rovidePeOiblework times.

/rovide PeOiblework place.

"aternityand paternityleaveU consider eOtending paidleave.

Otend careerleave.


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Work75amily %alance initiatives0. 0nitiatives for employers8organi)ations(

(?er longserviceleave on half pay.

/rovide reducedworkhoursfor older workers U on apermanent basis or for a limitedperiod.

/rovide work supportedchildcareplaces.

otateBobs.

/rovide additional nancialbenetsfor those whowork in remote locations or away from home Ltosupport children>s education relocation eOpensesfamily reunions etc.M.


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W3"4 L05E %ALAN+E0N0T0AT06ES Work75amily %alance initiatives 00. 0nitiatives for individuals8couples(

Discuss what you valueasa familyU and ensure whatyou value is rePected in what you do.

"aintaingood communicationathomeLfor eOamplediscuss sharing of tasks and responsibilitiesM.

"aintain goodcommunicationat workLfor eOamplediscuss hours work responsibilitiesM.

/lan and organi#e familytime.

/lan and organi#etimeto deal with familyandpersonal health issues and familynances.

%f partnered plan and enBoy regulartimeas a couple.


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Work75amily %alance initiatives

00. 0nitiatives for individuals8couples(

/lan and enBoy regular time with children or other familymembers.

"aintain dailyfamilyroutines for eOample mealtimesR dowork out with children homework to stay t.

Take care of self. "aintain physical mentaland socialwell-being.

1e realisticabout work hours- reviewworkcommitmentsand

career goals on a regular basis. 4cale back where needed fora shorter or longer time period.

+ppreciate otherfamilymembersand alltheyare achieving.+lso appreciate the pressures they might be under.

P"360$0N1 !" LEA$E"S!0P T3


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P"360$0N1 !" LEA$E"S!0P T3%9S0NESS.

9 ,eadership is fundamentally a business driver andenabler.

/roactively drive change to improve governanceenhance performance .

*apacityand capabilitiesfor meeting present and futureneeds of technology.

9 leaders are businessleaders as responsible as otherbusiness leader

Task of ensuringthat their organi#ation> cultureischangeable customer-focusedand stimulatesinnovation.

Task of ensuring that their organi#ation> cultureischangeable customer-focusedand stimulatesinnovation

P"360$0N1 !" LEA$E"S!0P T3


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P"360$0N1 !" LEA$E"S!0P T3%9S0NESS.

9 ,eadership is a mindset one which combinesastrategic approach with a pragmatic.

5ocus of 9 leadership is on customers individualemployeesand organi#ationfor today and tomorrow.

(rgani#ation capabilitiesre$uiredfor sustainable success.

+chievepowerand inPuencewithin organi#ations if theyare to playmeaningfulrole.

*(s are lookingfor the 9leaderswho canpushthebusiness forward and challengeeveryone at the table.

9 wasconsidered as necessaryevil but today 9 istaking the centrestageto lead the business.

3oraciousLgreedyM appetitesforbusiness professionalcompatibility with other top eOecutives

P"360$0N1 !" LEA$E"S!0P T3


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P"360$0N1 !" LEA$E"S!0P T3%9S0NESS.!" Leaders'ip can disc'arge folloing

responsibilities to contribute to businessV Driving improvements to provide eScient e?ective and

compliant 9 services aligned to business re$uirements.

V Design development and implementationof new 9

services to meet new business trends.V Developmentand implementationof business-focused

9metrics

V Deliveringreliableworkforcedatawith corresponding

workforce reporting and analyticstosupportbusinessdecisions.

V Developmentof the overall9budgetand analysisoftotal 9 spend..

P"360$0N1 !" LEA$E"S!0P T3


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P"360$0N1 !" LEA$E"S!0P T3%9S0NESS.!" Leaders'ip can disc'arge folloing

responsibilities to contribute to business 9 compliance and riskmanagement.

/roBect management including buildingcapabilitiesfor 9tomanageproBectssuch as 4iO 4igma in 9

Development and implementation of an 9technologystrategy to support the business needs.


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+&


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stm-t m module 1

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