TalentManagement Presented By: Nabendu Paul M120006MS
To Understand Meaning of Talent & Talent Management Evolution of Talent Management Process of Talent Management Emphasis on Talent Management Nine Best Practices Its Strategic Importance Conclusion
What is Talent?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.
Talent Management• The ability, competency and power of employees within an organization.• The concept is not restricted to recruiting but also to exploration, development, transition according to the culture of the organization.• It is a continuous process that involves sourcing, hiring, developing, retaining and promoting them while meeting the organization’s requirements simultaneously. .
Emphasis on TM• Demonstrated relationship between better talent and better business performance.• Rapidly increasing source of value creation.• Helps in creativity, innovation and value creation in the dynamic and complex environment.• Changes of Employee Expectation. Continue
Nine Best Practices• Start with the end in mind.• Talent management professionals need to move from a seat at the table to setting the table.• You must know what you’re looking for— the role of Success Profiles.• The talent pipeline is only as strong as its weakest link. Continue
Nine Best Practices• Talent Management is not a democracy.• Potential, performance and readiness are not the same thing.• Putting the right people in the right jobs.• More about the “hows” than the “whats.”• Software does not equal talent management. Continue
Strategic Importance• Consideration to the revenue, innovation and organization effectiveness.• Cost of lost opportunities, downtime and the replacement costs of losing critical talent must be analyzed.• Consequences of wrong kind of managers in the leaders top management position.• Investment in talent management is not short term.• Talent Management is strategic and holistic approach to both HR and business planning. Continue
Conclusion• Talent Management" has become one of the most important buzzwords in Corporate HR and training today. Organizations know that they must have the best talent in order to succeed in the hypercompetitive and increasingly complex global economy. They must manage talent as a critical resource to achieve the best possible results in the long run. continue