talent management effective and future strategy

1. TALENT MANAGEMENT
Effective and Future Strategies
By
HARSHIT BHAVSAR
LEAD to WIN – Discover the leader within
www.leadtowin.in

2. “The thin line between dream and vision is EXECUTION”
“Success is not before failure but beyond failure”
“When you find a leader, follow;
&
When you identify a leader within, LEAD”
-Harshit Bhavsar
LEAD to WIN

3. 1) Understanding Talent Management and Global Scenario
2) Talent Management – Integration Management
3) POWERHUNT – Real-life example of Integrated Talent Management
4) Building Sustainable Leadership and Futuristic Talent Management Strategy
5) Talent Acquisition, Engagement and Retention
Synopsis

4. Understanding Talent Management
and
The Global Scenario
www.leadtowin.in
LEAD to WIN – Discover the leader within

5. “Our assets walk out of the work place every night,
and
Our job is to ensure that they love coming back every morning.”

6. TALENT
“The sum of a person's ability to learn and grow”
TALENT MANAGEMENT
“Talent management refers to the skills of attracting highly skilled / profitable /
performing workers, of integrating new workers, and developing and retaining
current workers to meet current and future business objectives.”
Understanding Talent Management
& The Global Scenario

7. Global Talent Scenario - Demographic shifts in the workforce
Source: U.S. Bureau of Labor Statistics
Labor Force Growth Rates
Percentage Change
(projected 2002-2012)
Labor Force Percentage Change
By Age Group
(projected 2002-2012)
65 +
55 to 64
45 to 54
35 to 44
8%
16 to 24
Total
19%
11%
- 9%
25 to 34
7%
12%
44%
10%
0
20%
30%
16-24 25-34 35-44 45-54 55+
2002
2012
Labor Force Make-Up Percentage
Change By Age Group
(projected 2002-2012)
Total
White
Black
Hispanic
Asian
12 %
8.5 %
19.3 %
50.8 %
32.6 %
Labor Force Growth Rates
Percentage Change
(projected 2002-2012)
Labor Force Percentage Change
By Age Group
(projected 2002-2012)
65 +
55 to 64
45 to 54
35 to 44
8%
16 to 24
Total
19%
11%
- 9%
25 to 34
7%
12%
44%
10%
0
20%
30%
10%
0
20%
30%
16-24 25-34 35-44 45-54 55+
2002
2012
Labor Force Make-Up Percentage
Change By Age Group
(projected 2002-2012)
Total
White
Black
Hispanic
Asian
12 %
8.5 %
19.3 %
50.8 %
32.6 %
Developed Markets - Aging Workforce + Less skilled workforce = TALENT
CRISIS
Understanding Talent Management
& The Global Scenario
Emerging Markets - Wage inflation and attrition
Can these be an alternative labor market ?

8. Global Talent Scenario - What is likely to happen?
– Automation, reengineering, innovation, high-yield based jobs in developed Markets.
– Out sourcing of work from developed to emerging markets.
– Companies migrating to developing countries.
– Higher growth rates in emerging markets adding to demand.
– Unmanaged immigration to developed countries
– Technology and information penetration adding to transparency & instability
– Diminished ambitions and enhanced expectations, dissatisfaction and instability.
– Birth of entrepreneurial opportunities but scalability a challenge
Talent Management a GLOBAL challenge: Talent Crisis
How to WIN in this environment?
1) INNOVATION 2) MOMENTUM 3) TECHNOLOGY
Understanding Talent Management
& The Global Scenario

9. – Create Strategic Recruitment Plans to attract the best talent.
– Identify and develop LEADERS at all levels.
– Create “great places to work” - attract & retain the best talent.
– Direct the positive energy of people to the right areas.
Why Talent Management ?
Understanding Talent Management
& The Global Scenario

10. Talent Management
Equals
Integration Management
www.leadtowin.in
LEAD to WIN – Discover the leader within

11. Talent
Profiles and
Objectives
Elements of Talent Management
Talent Management - Integration Management

12. • Who are our top performers?
• How to hire and develop more people like them?
• Are there Enough of them? Crisis Management? Replacement? Business Growth?
• Are we Retaining the best employees?
• Where did we recruit them from?
• Is there a clear Growth / Succession plan for them ?
• Is there a two way Communication with them?
• Do workers have the Skills needed to achieve the performance goals?
• Are the Learning Initiatives positively impacting performance?
• Where is the talent Demand outpacing Supply?
• How much of the Turnover impacts Customers, Productivity, Innovation, Quality.
• What are the Financial consequences of talent decisions on our business?
• Is anyone in the Boardroom worried about the status of the “talent pool” ?
Key Questions for Policy Makers
Talent Management – Integration Management

13. Integrated Talent Management
Talent Management – Integration Management

14. POWERHUNT
INNOVATION MOMENTUM TECHNOLOGY
An in-house Recruitment / Talent Management software driving over all Business
Strategy with inbuilt business intelligence.
It can be used by any recruitment consulting firm as well as by the recruitment
division of any organization. Its modules are custom designed based on the clients’
needs.
Who can benefit from it?
What is POWERHUNT?
Talent Management – Integration Management

15. INNOVATION MOMENTUM TECHNOLOGY
Talent Management – Integration Management

16. Building Sustainable Leadership
And
Futuristic Talent Management Strategy
www.leadtowin.in
LEAD to WIN – Discover the leader within

17. Talent Management - Simplified
Talent
Growth
Talent Management = Growth Management
Building Sustainable Leadership &
Futuristic Talent Management Strategy

18. Talent Management is about
SUSTAINABLE INCLUSIVE GROWTH
(Begin with the End = Well defined Business Model)
INCLUSIVE VISION
Organizational SYNC Individual
“Developing Leaders”
What do you require to implement Talent Management?
People (Mindset)
Processes (Practices)
Technology
Talent Management - Simplified
Building Sustainable Leadership &
Futuristic Talent Management Strategy

19. • Do we have enough leaders (quantity & quality) to execute ongoing and future business?
• Are current Leaders accountable for the cultural strategies supporting business goals?
• Is there any inbuilt mechanism to identify potential leaders across the organization early
in their careers?
• Do we assess our high potential talent from the leadership perspective?
• Do we systematically accelerate the development of high-potential talent and improve the
quality of executive leadership?
• Do we focus on growing better leaders at all levels from the first line upwards?
Invest in the best……Focus on the rest.
Building Sustainable Leadership &
Futuristic Talent Management Strategy
Key Questions for Policy Makers

20. Traditional Talent Management
Building Sustainable Leadership &
Futuristic Talent Management Strategy
Futuristic Talent Management
Capability AlignmentCommitment
Enhanced Performance
Focus: Managing Best Positions
Focus: Managing Best People

21. Talent Acquisition, Engagement and Retention
www.leadtowin.in
LEAD to WIN – Discover the leader within

22. “Organizations need to get the right people on the bus and in the right seats to succeed.”
“Good coaching, training, mentoring, etc., is not likely to make up for bad selection.”
“Hire hard….Manage easy!”
- Collins, J. (2001). Good to great.
Talent Acquisition

23. Talent Acquisition
Individual Organization
Personality
Values
Expectations
Knowledge
Skills
Interests
Strategies
Objectives
Values
Culture
Rewards
Management
StructureAbilities
Goals

24. Employee Engagement is inversely proportional to stress.
• Effort without distress (Engagement)
– Working harder and deriving satisfaction
• Distress without effort (Disengagement)
– Giving up and feeling bad about it
• Effort with distress (Strain)
– Working harder but with fatigue and anxiety
Talent / Employee Engagement

25. What drives it?
Engagement
Organisational Commitment Service Commitment
Work & Career Commitment Job Satisfaction
Talent / Employee Engagement

26. Who are your competitors?
Colleagues / partners within the organization looking for another job
Talent Retention
Every partner / employee asks few key questions
– Am I working for a winning organization?
– Can I get my day-to-day job done effectively?
– Am I treated well?
– Is my work enjoyable and fulfilling?

27. Source : Hudson / Vlerick Hipo Research Study
Talent Retention

28. Critical Elements of Attracting and Retaining TOP Talent
Talent Retention

29. Inclusive Growth
Talent Retention

30. “If you want 1 year of prosperity, grow grain.
If you want 10 years of prosperity, grow trees.
If you want 100 years of prosperity, grow PEOPLE.”