Talent management

1. Talent management
&
Retention management
Omid Minooee

2. Talent definition:
1. A natural ability to excel at a duty or action.
2. A group of people, such as employees, who have a
particular aptitude for certain tasks. For example, producers of a
movie might recruit local talent, actors and actresses who live
nearby, to stand in as extras in a film.
www.Business dictionary.com

3. talent management
.Talent management refers to the anticipation of required
human capital the organization needs at the time then setting a
plan to meet those needs
. Talent Management is the science of using strategic HR to
improve business value and make it possible for companies and
organizations to reach their goals.. A talent management strategy
needs to be linked to the business strategy to make sense.

4. Talent Matrix

5. Significance of talent management
• Between 40-70% of all senior execs will become eligible for
retirement in next 5 years at most major corporations
• 50% of organisations have some form of talent management
system
• 84% of managers want to be considered high potential
• 31% of managers feel their current appraisal system is capable
of identifying high potentials
• 60% of managers agree that those identified as high potential
were expected to be become senior managers/partners.
UK HR research organization 2010

6. Objectives of talent management
1.Identify the key gaps between the
talent in place and the talent required
to drive business success.
2.Develop a sound integrated talent
management plan designed to close
the talent gaps.
3.Facilitate and support management
to implement accurate hiring and
promotion decisions.
4.Develop talent to enhance
performance in current positions as
well as readiness for transition to the
next level.
5.Develop a succession and retention
plan to sustain organizational
excellence
6.Measure business impact and
workforce effectiveness during and
after implementation

7. Strategic Perspectives on Talent Management

8. Perspectives on Talent Management
1.Process: use people management processes to optimise development and
deployment of talent.
2.Cultural:belief that talent is most critical factor for success.
3.Competitive:keep talent away from the competition.
4. Developmental: Accelerate the development of high potentials.
5. HR Planning: Ensure right people in right jobs at the right time
6. Change management: Talent management used to drive change

9. Structure and systems to support talent
management

10. A framework for developing a Talent Management System

11. The 5 key processes:
• Attracting & Recruiting
• Developing
• Motivating
• Appraising
• Retaining

12. retention
Definition:
1. [noun] the act of keeping in your possession
Synonyms: keeping, holding
2. [noun] the power of retaining and recalling past experience;
"he had a good memory when he was younger"
Synonyms: memory, retentiveness
www.eLOOK.org

13. Retention management
1.refers to the various policies and practices which let the employees stick to
an organization for a longer period of time.
2.systematic effort by employers to create and foster an environment that
encourages current employees to remain at the same employer having policies
and practices in place that address their diverse needs”.

14. Principles of Retention Management
David Forrest (1999) defines five basic principles of retention
management:
1.First the employees need to feel they are appreciated, valued and
trusted. It is about respecting people and their contributions to the
company effort.
2. The second principle is development. Employees who participate in
their own growth and development plans are going to stay with the
company because they know their company wants more for them.

15. Principles of Retention Management
David Forrest (1999) defines five basic principles of retention
management:
3. The next principle is growth in responsibility. Most people want to
grow and to feel more competent and more responsible, at any level. A
good company helps people manage themselves by consistently focusing
on performance and results. The manager teaches the employee what they
are good at, what else they need to know and how to get it. As they grow
they receive higher levels of responsibility and accountability. This
attitude also encourages innovation and creativity.

16. Principles of Retention Management
David Forrest (1999) defines five basic principles of retention
management:
4.The fourth principle is a good relationship with the manager. The
supervisor represents the personal experience of a corporation of
employees and therefore reflects, for better or for worse, its underlying
attitudes toward them.
5.The fifth principle is success. The valued and successful employee
stays. This implies, of course, that the work is meaningful to the
corporate enterprise. The strong employer rewards employees for helping
to make others successful as well.

17. The procedure of Retention Management
The procedure of retention management consists of six steps:
1.Identification of the target and actual needs of the staff
2.Analysis of the fluctuation risk of the staff
3.The Analysis of factors of Motivation/Demotivation of the retention group
4.Identification of the targeted measures
5.Implementation of the measures
6.Evaluation of the measures

18. The retention management process
1) Measurement and Assessment
• Turnover measurement
• Costing of turnover
• Employee surveys
• Exit interviews
2) Retention interventions
• Selection
• Orientation training
• Compensation
3) Evaluation and Follow-Up
• Review turnover data regularly
• Track intervention results
• Adjust interventions

19. Thank you