hi all, i am devang i don’t know the meaning of talent management? recently i heard it. can any one tell me about it??????????? thanks..........
From India, Vadodara
hi Devansh,

I had some info about it , this might help you .

TALENT MANAGEMENT

RETENTION OF TALENTS OCCURS WHEN THE MANAGEMENT

OF TALENTS IS EFFECTIVE.

Talent management is the process of ensuring that the organization attracts, retains, motivates and develops the talented people it needs.

----------------------------------------------------------------- --------------------

The talent management processes are:

*developing the organization as an 'employer of choice' ‑ a 'great place to work';

•using selection and recruitment procedures that ensure that good quality

people are recruited who are likely to thrive in the organization and stay with it for a reasonable length of time;

•designing jobs and developing roles which give people opportunities to apply

and grow their skills and provide them with autonomy, interest and challenge;

* providing talented staff with opportunities for career development ‑and growth;

* creating a working environment in which work processes and facilities enable

rewarding (in the broadest sense) jobs and roles to be designed and developed;

* developing a positive psychological contract;

* developing the leadership qualities of line managers;

recognizing those with talent by rewarding excellence, enterprise and achieve­ment;

* succession planning ‑ ensuring that the organization has suitable people to fill

vacancies arising from promotion, retirement or death;

* conducting talent audits which identify those with potential and those who might leave the organizations.

*good opportunities for development, training and career progression;

*a reasonable degree of security;

· enhanced future employability because of the reputation of the organization

as one that employs and develops high quality people,

as well as the learning opportunities it provides;

·better facilities and scope for creative employees.

· employment conditions that satisfy work‑life balance needs;

· a reward system that recognizes and values contribution,

and provides competitive pay and benefits.

All these reveal that the TALENT will thrive where there is

-freedom to show innovation

-facilities are made available

-creativity is appreciated

-creativity is given the opportunity, it deserves.

-creativity is given recognition

etc.

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Guidelines for Retaining TALENTED Employees

Develop a process to identify key individuals and positions needed in the

transition and in the new organization.

Focus on retaining the true "value creators" in the organization, not just top

management players.

Determine how long you need to keep various people on the basis of

business needs, and offer them stay bonuses as appropriate.

Assess employees against key competencies required for key positions. Use

these to objectively assess talents you will retain to meet important business

needs.

Remember‑when you dictate objectives, people show less commitment, but

when the process is collaborative, there is visibly more commitment. Involve

key talent in a "retention task force" where they can have input into

workforce planning and participate in discussions to help determine what it

will take to keep key talent in the new organization.

Determine which individuals will need to be relocated, if any, as early as

possible in the transition process.

Tell people what you know as quickly as you know it, and tell them what you

do not know.

Try to minimize the time that employees must endure a period of uncertainty

about whether they will be staying or leaving.

Consider developing a retention bonus plan for those considered absolutely

critical to the organization's success during and after the transition.

Understand up‑front that retention bonuses can have unintended

consequences and limited success. Those who get stay bonuses may be

seen as "the anointed ones" by those who don't receive such bonuses. Be

prepared to risk losing these people. Those who receive the bonuses will also

have a date by which they can voluntarily leave the organization and still

receive a bonus.

Approach all those you want to retain one‑on‑one and let them know they are

important to the organization's success. The simple phrase "I need your help"

has a kind of magic in it. "Re‑recruit" these people by letting them know what

is in it for them if they choose to stay on.

Try to retain all star performers and high performers even though their jobs

may have been eliminated in the reorganization. This is the same principle by

which professional sports teams draft "the best available athlete." However,

be mindful of the fact that if YOU cannot find a challenge that fits their talent,

you will not be able to keep them.

Regards

shubha

From United Arab Emirates, Dubai
Hi,
Talent Management is a strategic approach to Managing Human Capital- the most valuable assets of your company.
Talent Mangement helps in managing people through out the career cycle of employees:
# Recruiting
# Selecting
# Retaining
# Developing
# Transitioning, the most important assets.
This process of Talent Management can be devided into the following parts:
* Attracting talent:
Assessment & Selection
Acquisition planning
* Retaining Talent
Retantion strategies
* Developing Talent:
Career Development/ Career Management
New Job integration
Leadership Development
Executive coaching
Team Building
Succession Planning
* Transitioning Talent:
Out placement
Senior Management programs
Retirement Planning
All this can give you a comprehensive look on Talent Management.
Hope it will be of help.
Cheers
Archna

From India, Delhi
Hey there... I had recently worked on a ppt presentation on talent management...Attached the file...Go through it if you are interested Regards, Jyoti P.
From India, Mumbai

Attached Files
File Type: ppt final_942.ppt (282.5 KB, 2827 views)
File Type: ppt final_942.ppt (282.5 KB, 1643 views)

Talent Management is all about maintaining and retaining your resources by providing them opportunities to grow with the organisation.
this is done by identifying the training needs and potential development areas.
Talent Management = Retention of Best Talent available within the org
regards
Bala


Very nice presentation in the power point presentation.

I entirely agree with one of the slides which states that it increases employee satisfaction. If you have an aptitude for something but your heart is not in it, to my mind that is not talent because you may not be able to do well in all situations. For example, the director of movies like Iqbal and Dor was a chemical engineer by profession but his heart was not in it and he opted for films. Normally heart and soul are not given their due importance but some American consultants have started serious research on this- if interested, links on my blog - http://mypyp.wordpress.com/

Talent, to my mind is being able to do a task effortlessly, spontaneously and willingly and looking good while doing it.

One slide mentions that those who do not meet organization expectations exhibit a lack of talent. To my mind, they too need to be correctly placed in jobs and roles that suit their profile. The book "First, break all the rules" giving example of "Tough love" shows how employees are fired by their bosses and then correctly placed by the same bosses in other companies. Have you ever heard of the phrase "I love you and therefore I am firing you". The right placement after the person doing the firing is the finest example of talent management. The most important thing in the world is to detect latent talent or "what is uniquely you?". People can spend a lifetime without knowing that about themselves.

The birds slide is the end is also quite profound. I recently read somewhere that every Borg needs a Mcenroe(Tennis) and similar other examples of how one's own talent shines when challenged by an adversary. The singing birds reminded me of Lata Mangeshkar who had a virtual monopoly for a very long time but fortunately, others have turned up.

From India, New Delhi
In real life, Talent management also takes place by instinct when functional talent reveals the working identity.

According to Morgan and Banks(Former HRD consultant in 28 countries)General electric's famous CEO, Jack Welch hired three lawyers who were all seen to have strengths beyond GE's legal deparment. Welch recognized their abilities and encouraged them to concentrate on the business side of the corporation. One became head of GE's avaiation finacne operation: another took charge of business development and the third became President of GE Japan.

In real life, Talent Management can happen by years of experience and gut feel. I was recently watching the Amirtabh Bachchan starrer Zanjeer which was his first big hit. In between, there were captions narrating incidents in the movie. One of them said that many distributors had withdrawn money saying "Who is this tall idiot"? However, director Prakash Mehra stuck to his instincts and that movie became Bachcan's first hit after which he never looked back. Heroines used to refuse to work with him and another director(with whom he made some of his greatest hits) also told him to cut his legs and come. Very few thought much of him in his days of struggle. The same director tried the same with actor Raj Kumar's son but failed.

Though director is the captain of the ship and nobody gives a director's job without prior experience, Subhash Ghai was given such a chance and became one of the country's biggest directors.

From India, New Delhi
Hi,
This is Rachna from Mumbai doing BMS.And i have selected Talent Management as my topic for the project submission.It is a 100 marks project.Can anyone help me or guide my for the things like what is to be covered in this topic and how to go with it...
My email id is
Please help me out.
Thanks


Talent Management

In most organizations, the infrastructure of human resources systems and processes is a jumble of unconnected, incomplete, and inconsistent methodologies.

1.Identifying, selecting and cultivating Superkeepers. Superkeepers are employees who have demonstrated superior performance, who have inspired others to achieve superior performance, and who embody the core competencies of the organization. They are role models for success and the organization can neither afford to lose them nor fail to take advantage of their ability to contribute to organization excellence. Their loss or absence severely retards organization growth because of their disproportionately powerful impact on current and future organization performance. Bill Gates once said, “Take our twenty best people away from us and I can tell you that Microsoft would be an unimportant company. Typically, no more than 3% to 5% of an organization’s workforce are classified as Superkeepers.

2.finding, developing, and positioning highly qualified backups for key positions. Key positions are critical to organization continuity. They cannot be vacant for any length of time nor can they have less than a highly qualified, readily available backup. Gaps in replacement activity for key positions are highly disruptive, costly and distracting to the organization. Typically, no more than 8% to 12% of an organization’s positions are classified as key.

3.Allocating resources(compensation, training coaching,etc) to employees based on their actual and /or potential contribution to organization excellence. An organization will not accomplish anything if it invests in everything. Therefore, an organization must invest in employees based on a clear hierarchy of contribution. Poor allocation of compensation and training and development resources can lead to unwanted turnover and morale and performance problems, particularly in Superkeepers and Keepers. After superkeepers, the hierarchy of investment includes Keepers. These employees exceed performance expectations, help others to improve their performance, and exceed expectations in demonstrating organization core competencies. They represent between 20% and 25% of an organization’s workforce. Large investments should be made in this group.

4.Solid Citizens represents about 70% of the workforce. They meet expectations for performance, enhance the work of others, and meet expectations in demonstrating organization competencies. Organizations invest in enhancing this group to ensure that Solid Citizens continue to contribute to organization success. They must not invest at the same level per employee as they do for Superkeepers and Keepers.

5.Last, there are Misfits. This group contains employees who do not meet organization expectations for performance, working with others, an/or organization competencies. Some remedial investments might be made with this group, but unless a Misfit rapidly becomes a Solid Citizen, the “plug” should be pulled on all investments and the employee should be terminated. Typically no more than 5% of an organization’s employees are designated as Misfits.

From India, Nagpur
Hi, The information which others have provided is good. If I am not wrong Johnson & Johnson Medical India a division of Johnson & Johnson Ltd. are into this project. Check it out Shanti :)
From India, Mumbai

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