TALENT MANAGEMENT Effective and Future Strategies

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TALENT MANAGEMENTEffective and Future Strategies
By HARSHIT BHAVSAR
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• 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
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• 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

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• Understanding Talent Management
• and
• The Global Scenario

www.leadtowin.in LEAD to WIN Discover the
leader within
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• Our assets walk out of the work place
  every night,
• and
• Our job is to ensure that they love coming back
  every morning.

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• 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.

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Global Talent Scenario - Demographic shifts in
the workforce
Developed Markets - Aging Workforce Less
skilled workforce TALENT CRISIS
Emerging Markets - Wage inflation and attrition
Can these be an alternative labor market ?
Source U.S. Bureau of Labor Statistics
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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
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Why Talent Management ?

• 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.

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• Talent Management
• Equals
• Integration Management

www.leadtowin.in LEAD to WIN Discover the
leader within
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Elements of Talent Management
Talent Profiles and Objectives
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Key Questions for Policy Makers

• 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 ?

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Integrated Talent Management
Measure and Report Measure and Report Measure and Report Measure and Report Measure and Report Measure and Report Measure and Report
Competency Management Competency Management Competency Management Competency Management Competency Management Competency Management Competency Management
Talent Planning Recruitment Performance Management Learning and Development Career Planning Compensation Management Succession Planning
Who are our top performers? Y Y Y Y Y
How can we hire/develop/retain them? Y Y Y Y Y
Are we retaining the best workers? Y Y Y Y Y
Where did they come from? Y Y Y Y Y
Do workers have the SKILLS needed to achieve performance goals? Y Y Y Y Y
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POWERHUNT
What is POWERHUNT?
An in-house Recruitment / Talent Management
software driving over all Business Strategy with
inbuilt business intelligence.
Who can benefit from it?
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.
INNOVATION MOMENTUM TECHNOLOGY
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INNOVATION MOMENTUM TECHNOLOGY
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• Building Sustainable Leadership
• And
• Futuristic Talent Management Strategy

www.leadtowin.in LEAD to WIN Discover the
leader within
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Talent Management - Simplified
Talent
Growth
Talent Management Growth Management
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Talent Management is about
Talent Management - Simplified

• 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
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Key Questions for Policy Makers

• 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 bestFocus on the rest.

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Traditional Talent Management
Focus Managing Best People
Futuristic Talent Management
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• Talent Acquisition, Engagement and Retention

www.leadtowin.in LEAD to WIN Discover the
leader within
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• 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.

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• 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

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What drives it?
Organisational Commitment
Service Commitment
Work Career Commitment
Job Satisfaction
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• Who are your competitors?
• Colleagues / partners within the organization
  looking for another job

• 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?

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Source Hudson / Vlerick Hipo Research Study
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Critical Elements of Attracting and Retaining TOP
Talent
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Inclusive Growth
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• 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.