Homework Title / No.

: TERM PAPER Course Code: MGT-512

Course Instructor : MR. DEV DHAR SHETTY Course Tutor (if applicable) :

Date of Allotment : OCTOBER Date of submission : 10-12-2009

Student’s Roll No. B 35 Section No. : RS 1901

Declaration:
I declare that this assignment is my individual work. I have not copied from any other
student’s work or from any other source except where due acknowledgment is made
explicitly in the text, nor has any part been written for me by another person.

Student’s Signature :

FARAZ ALAM

Evaluator’s comments:
___________________________________________________________________
__

Marks obtained : ___________ out of ______________________

Content of Homework should start from this page only:

 2009
TALENT MANAGEMENT

FARAZ ALAM
LOVELY PROFESSIONAL
UNIVERSITY
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10/12/2009
 ON

(TALENT MANAGEMENT)

Submitted in the partial fulfillment of the Degree of masters of business

administration

SUBMITTED BY:- GUIDED BY :-

Name : Faraz Alam Mr. Devdhar Shetty

Regd. No : 10906032

Roll no. : RS1901B35

SUBMITTED TO

Department of Management , Lovely Professional University Phagwara

ACKNOWLEDGEMENT
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I take this opportunity to present my votes of thanks to all those guidepost who
really acted as lightening pillars to enlighten our way throughout this project that
has led to successful and satisfactory completion of this study.

We are really grateful to our COD Mr.Devdhar Shetty for providing us with an
opportunity to undertake this project in this university and providing us with all the
facilities. We are highly thankful to our teacher for his active support, valuable
time and advice, whole-hearted guidance, sincere cooperation and pains-taking
involvement during the study and in completing the assignment of preparing the
said project within the time stipulated.

Lastly, We are thankful to all those, particularly the various friends , who have
been instrumental in creating proper, healthy and conductive environment and
including new and fresh innovative ideas for us during the project, their help, it
would have been extremely difficult for us to prepare the project in a time bound
framework.

Name : Faraz Alam

Regd.No : 10906032

Roll No. : RS1901B35

Talent management

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Before going into the discussion on Talent Management, it would be apt to
understand the word “Talent”. Talent in general term refers to the capabilities, skills
or the art, a person possess in a particular field. It also refers to those people who
have high potential, scarce knowledge and skill or who can successfully bring about
transformation and change in the organization “Keeping People Who Keep You in
Business”, a talent is not rare and precious. Everyone has talent – too many to
possibly name all. Talent is behavior; things we do more easily than the next person.
We speak of “natural born talent” but those with a gift, knack, ability or flair for
something can refine and develop that talent through experience. Talent, however,
cannot be taught.

Coming to the word Talent Management in an Organisation, it refers to those special

steps an organization adopts to recruit, develop and retain its pool of top talent. The
steps adopted should normally be creative and should not project bureaucracy.
Talent Management also denotes a deliberate approach taken up by an organization
to attract, develop and retain people with the aptitude and abilities to meet not only
the current requirements but also future organizational needs.

Talent management refers to the process of developing and integrating new workers,
developing and retaining current workers, and attracting highly skilled workers to
work for your company. Talent management in this context does not refer to the
management of entertainers. The term Talent Management was coined by David
Watkins. The process of attracting and retaining profitable employees, as it is
increasingly more competitive between firms and of strategic importance, has come
to be known as "the war for talent."

It is an accepted truth that turnover will happen and companies need to device a
strategy to curb unprecedented turnover from affecting organisational success.
Today, companies have become fiercely competitive when it comes to attracting and
retaining talent. In today’s scenario about 75 per cent of the senior executives admit
that employee retention is a major concern , the obvious reason being the
‘increasing rate of turnover’ . This dynamically changing and volatile demand-supply
equation with such erratic attrition trends and cut throat competition has led
organisations to focus on mechanisms pertaining to attracting and retaining talent.

In today’s talent-hungry market scenario, one of the greatest challenges that

organizations are facing is to successfully attract, assess, train and retain talented
employees. Talent Management encompasses in itself the entire process of
Planning, Recruiting, Developing, Managing, and Compensating employees
throughout the organization.

Organizations have realized the need for talent management and are now focusing
to develop and retain the existing talent in their organization rather than trying to
acquire a new talent because the cost of identifying, developing and retaining the
talent internally is more cost effective instead of replacing the talent which is lost

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from external market Despite intense competition being the key to market
development and success, organisations have failed to identify some of the major
reasons which highlight why ‘good performers’ leave . One major reason why people
leave their organisation is because of the organisation’s failure to bring about a
correlation between pay and performance. Human Resource experts in the industry
believe matching the right blend of talent with the right job profile can lead to superior
performance.

Now every business unit is making sure that they can respond and withstand the
challenges of talent crisis by developing an effective talent management strategy like
identifying the key talented people in the organization, cultivating and developing the
skill of their present workforce and retaining highly talented employees by protecting
them from competitors. Although the need for talent management is critical, many
organizations flounder when it comes to effectively leveraging a state-of-the-art
technology solution. The primary difficulty lies in sharply diminished business
benefits when organizations fail to take advantage of talent solutions that integrate
fully with the core human resources (HR) system of record and with each other. As a
result, organizations often miss a decided competitive advantage when it comes to
areas such as user adoption, the optimal use of technology and employee
development, which is so critical in the talent shortage. Often this failure stems from
poor strategic planning and—as statistics show.

An integrated approach is ideal for the forward-thinking organization expanding its

talent management scope or for an organization exploring talent management for the
first time. Real-time integration that optimizes all aspects of talent management can
best be achieved with a solution from the same vendor that provides the core HR
system.

History
Talent management is a process that emerged in the 1990s and continues to be
adopted, as more companies come to realize that their employees’ talents and skills
drive their business success. Companies that have put into practice talent
management have done so to solve an employee retention problem. The issue with
many companies today is that many organizations put tremendous effort into
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attracting employees to their company, but spend little time into retaining and
developing talent. A talent management system must be worked into the business
strategy and implemented in daily processes throughout the company as a whole. It
cannot be left solely to the human resources department to attract and retain
employees, but rather must be practiced at all levels of the organization. The
business strategy must include responsibilities for line managers to develop the skills
of their immediate subordinates. Divisions within the company should be openly
sharing information with other departments in order for employees to gain knowledge
of the overall organizational objectives. Companies that focus on developing their
talent integrate plans and processes to track and manage their employee talent,
including the following:

• Sourcing, attracting and recruiting qualified candidates with competitive

backgrounds

• Managing and defining competitive salaries

• Training and development opportunities

• Performance management processes

• Retention programs

• Promotion and transitioning

Talent management is also known as HCM (Human Capital Management), HRIS

(HR Information Systems) or HRMS (HR Management Systems), and HR Modules.

Human capital management

Companies that engage in talent management (Human Capital Management) are
strategic and deliberate in how they source, attract, select, train, develop, retain,
promote, and move employees through the organization. Research done on the
value of such systems implemented within companies consistently uncovers benefits
in these critical economic areas: revenue, customer satisfaction, quality, productivity,
cost, cycle time, and market capitalization. The mindset of this more personal human
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resources approach seeks not only to hire the most qualified and valuable
employees but also to put a strong emphasis on retention. Since the initial hiring
process is so expensive to a company, it is important to place the individual in a
position where his skills are being extensively utilized.

The term talent management means different things to different organizations. To

some it is about the management of high-worth individuals or "the talented" whilst to
others it is about how talent is managed generally - i.e. on the assumption that all
people have talent which should be identified and liberated. From a talent
management standpoint, employee evaluations concern two major areas of
measurement: performance and potential. Current employee performance within a
specific job has always been a standard evaluation measurement tool of the
profitability of an employee. However, talent management also seeks to focus on an
employee’s potential, meaning an employee’s future performance, if given the proper
development of skills.

The major aspects of talent management practiced within an organization must

consistently include:

• Performance management.

• Leadership development

• Workforce planning/identifying talent gaps

• Recruiting

This term of talent management is usually associated with competency-based

human resource management practices. Talent management decisions are often
driven by a set of organizational core competencies as well as position-specific
competencies. The competency set may include knowledge, skills, experience, and
personal traits (demonstrated through defined behaviors). Older competency models
might also contain attributes that rarely predict success (e.g. education, tenure, and
diversity factors that are illegal to consider in relation to job performance in many
countries, and unethical within organizations).

Marketplace of talent management

A talent marketplace is an employee training and development strategy that is set in
place within an organization. It is found to be most beneficial for companies where
the most productive employees can pick and choose the projects and assignments
that are most ideal for the specific employee. An ideal setting is where productivity is
employee centric and tasks are described as “judgment-based work,” for example, in
a law firm. The point of activating a talent marketplace within a department is to
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harness and link individuals’ particular skills (project management or extensive
knowledge in a particular field) with the task at hand. Examples of companies that
implement the talent marketplace strategy are American Express and IBM.

Application of talent management

In current economic conditions, many companies have felt the need to cut expenses.
This should be the ideal environment to execute a talent management system as a
means of optimizing the performance of each employee and the organization.
However, within many companies the concept of human capital management has
just begun to develop. “In fact, only 5 percent of organizations say they have a clear
talent management strategy and operational programs in place today.

Aligning your leadership and workforce with strategic business objectives is critical
for competition in the global marketplace. A strategic approach to talent
management requires companies to put in place the incentives and compensation to
quickly attract top talent, the training and coaching to develop a productive
workforce, and the mechanisms to efficiently deal with turnover and succession.
Real-time insight into the precise nature and status of your existing workforce and
the needs for near-term and long-term hiring is also paramount. Without real-time
data, your talent management decisions will either be based on guesswork, or be
delayed until IT can pull together and analyze the appropriate information. For many
leading companies, the key to managing their workforce effectively and strategically
is the talent management software solution from Authoria. Authorial has developed
software for talent management.

Software for managing talent

Talent management software integrates the solutions you need to attract, retain and
develop a nimble and productive workforce. This automates the management of
recruitment, performance evaluation, compensation, succession planning and
benefits communication, and helps you to better align your workforce with
organizational needs and objectives. Dashboards customized to the needs of
managers and decision-makers throughout the organization enable you to better
predict market trends and respond with the appropriate talent decisions. Access to a
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central repository of actionable intelligence provides management with the
information to make timely and strategic hiring decisions. And comprehensive
reporting and analytic tools allow managers to make more informed decisions,
improving efficiency, consistency and compliance throughout the organization.

The advantages of an integrated approach to

management of organizational talent

Talent management provides many advantages for an organization seeking to

improve competitiveness through more strategically managed workforce:

Identify top performers — It helps you analyze and understand the characteristics of
your top-performing employees, so you can more easily find and attract similar
talent.

Improve decision-making — by accessing real-time insight into the skill sets of

existing talent, the status of available talent and the current and future needs of the
organization, you can make more effective hiring decisions.

Increase efficiency — by streamlining management tasks and pooling data on

people, profiles and positions within a single database.

Enhance performance — support the strategic objectives of the organization by

aligning the skills and assignments of your workforce with the needs of your
company.

Managing talent is not something that a company falls into - it's a deliberate
undertaking that can be advantageous to the company and each of the individuals
within the organization. To begin the process, Human Resources must strategically
analyze the current process and integrate the following:

Recruitment - presenting the company so that the right people will be attracted and
desire employment.

Retention - initial a reward and support program for existing employees.

Employee Development - constant learning and development.

Leadership Development - development programs for employees with high potential.

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Performance Management System - feedback and measurements that nurture and
support employee performance.

Workforce Planning - keeping up with changing workforce; include older workforce

and plan for future skills shortages.

Business Culture - presenting a positive way of performing.

Companies can benefit from developing and retaining the workforce they have and
individuals can benefit from a company that encourages and develops them to meet
their aspirations. A Performance Management System is vital to achieving the goals
of both the company and the individuals. The specific needs are different for each
company but the common elements include -

Employee Development - focus on personal development and plans for formal and
informal training.

Salary Review - compensation can be linked to performance and review should be in

the process.

Personal Performance - related to tasks, responsibilities that can all be linked to

compensation review.

Business Performance - Individuals/Teams - track business goals as related to

groups and teams within an organization.

Organizations can save hundreds of thousands of dollars by not only retaining the
talent that are already working for the company, but increasing performance of the
same individuals by working with them and initiating a performance management
system. If the employee feels valued and on a career path where they will personally
benefit - production tends to increase and the employee is far less likely to seek
employment elsewhere.

Initiating a talent management plan can also be used to attract the types of
employees that you want to join your organization. This process will enable you to
learn what types of people work best in the organization; where improvements can
be made and how to make adjustments as business and culture change.
Performance Management System and Talent Management plan can work hand in
hand to improve the overall environment of the organization.

Hiring and retaining talent has become more difficult. Talent management is a
necessary resource. Worksites offers competency models and workshops on
building a competency model. Develop and retain your best talent.

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 Financial Value of the Talent Management
Variables (leadership competencies, experience, skill, interest, rewards) that
motivate people to succeed have been identified and successfully put into practice.
Talent management is no longer a cutting-edge field being solely tapped by
pioneers. It is a viable path toward improving organizational performance. Contents

Increase Revenue Companies that want to grow and improve their systems and
processes must focus on the people practices that allow or foster that growth and
improvement. The best practices are known to be -

• Increase Revenue

• Customer Satisfaction

• Improve Quality

• Increase Productivity

• Reduce Cost

• Reduce Cycle Time

• Increase Return to Shareholders & Market Capitalization

Integrated, strategically aligned human capital asset management systems have

provided significant economic benefits to companies that have embraced them as
ongoing processes instead of one-time events. Research done on the value of such
systems to companies consistently finds benefits in these seven critical economic
areas: revenue, customer satisfaction, quality, productivity, cost, cycle time, and
market capitalization. This clearly shows that adopting and investing in best-practice
talent management systems results in bottom-line improvement in each of these key
areas.

Increase Revenue

It was initially thought that companies that make more money were associated with
better talent management practices only because they could afford them (.19
correlation), but the 2001 Watson Wyatt Human Capital Index Study showed that
talent management practices actually increase financial performance (.41
correlation).

According to Watson Wyatt’s research 15% of profit performance is driven by:

• Management participation

• Open management style

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 • Taking some risks, but not too many

• Top managers spending 20% of time with customers

• Around 20% of top management should be outsiders

• Management training is deemed important

• Top managers are effectively incentivized

• Succession planning is done

• A good appraisal system is in place

• Employees get feedback

In addition to supporting Becker and Huselid’s 1998 results, the 2001 Watson Wyatt
Human Capital Index study showed precisely which HR practices have an impact on
the bottom line. 49 specific HR practices across 6 dimensions played the greatest
role in creating shareholder value. The research quantified exactly how much an
improvement in each practice could be expected to increase a company’s market
value. For example, a company that makes a significant improvement (one standard
deviation) in all of the practices categorized under “Total Rewards and
Accountability” should see its value improve by 16.5 percent, and a significant
improvement in 43 key HR practices is associated with an increase of 47 percent in
market value. Results included:

• 16.5% impact on company market value from total rewards and accountability

• 9% impact from a collegial, flexible workplace

• 7.9% impact from recruiting and retention excellence

• 7.1% impact from the integrity of communications

• 6.5% impact from the implementation of focused HR service technologies

• 33.9% loss from non-prudent use of resources

Careful inspection of all the data shows that for every available correlation calculated
over time, the relationship between past HR practices and future financial
performance is stronger than the relationship between past financial outcomes and
future HR practices. This is the first study to show that HR practices actually
increase financial performance (.41 correlation) instead of inferring that companies
that make more money can afford better HR practices (.19 correlation).
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Given companies of comparable size, those who’s CEOs exhibited more emotional
intelligence competencies showed better financial results as measured by both profit
and growth.

The divisions of leaders with a critical mass of strengths in emotional intelligence

competencies outperformed revenue targets by a margin of 15-20 percent.

Customer Satisfaction

Knowing and using the critical competencies associated with success creates
results.

The 1998 Watson Wyatt study, Competencies and the Competitive Edge, showed
that when an organization identifies and communicates the core competencies that it
needs to be successful in the present and the future, it has developed a powerful tool
to help meet its goals. Competencies define and communicate an organization’s
strategy and help employees to understand that strategy and achieve its goals. The
many roles that competencies can play in an organization include:

• Articulating what the organization values

 Providing a common language for employees and managers to describe value

creation

• Establishing a new paradigm for human capital management programs

(organizational levers)

• Focusing on the development of the individual instead of an organizational

structure

• Linking pay, promotions and growth directly to what the organization values to
be successful

Guiding employees and managers to what is expected and how value is defined
even in times of dramatic change and restructuring

Competencies serve as a powerful communication vehicle to focus all members of

the organization on the skills and activities that will create both value and wealth.
Competency-based programs can make a difference to the bottom line. Analysis of
the financial data clearly shows that companies with competency- based programs
perform better in the marketplace. Such programs help focus the organization and all
the individuals in it on what they can do to add value to the organization.

Contributions are role-related rather than position-related. Adopting this view of

contribution to value will help organizations think differently about their human
resource and development programs. Organizations can focus on competencies
needed for the future and identify the roles that employees do and must play.

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Programs that build employee commitment can bring great returns. Data from this
and other Watson Wyatt studies clearly demonstrate that both individual and
organizational performance increase when employees are committed to their
companies. Ensuring that organizational levers that build employee commitment are
in place and working will affect the bottom line. This was most notable when the
competencies focused on attributes and behaviors that promoted customer
satisfaction.

Training is important, but it is no substitute for good management. A large majority of

the organizations participating in Watson Wyatt’s study identified training and
development as the driver of future corporate success. The high-performing
companies identified it slightly more often than the others.

Putting people first by adopting high performance management practices translates

into improved morale, more innovation, better customer service, higher productivity,
greater cost reduction, greater flexibility, and increased skills development.

Improve Quality

Motor vehicle manufacturing firms implementing flexible production processes and

associated practices for managing people enjoyed 47 percent better quality and 43
percent better productivity than firms relying on traditional mass-production
approaches, according to a worldwide study by Wharton School's John Paul
MacDuffie.

Overall financial performance improved 3.8% per year for ten years when companies
stayed with traditional talent management practices, 6.8% when they realized they
needed to re-design their talent management practices, and 10.1% when they
launched a completely new talent management system

Increase Productivity

Initial research on 740 companies’ HR practices found that those using high
performance work systems (HPWS are defined as integrated talent management
practices) had economically and statistically significantly higher levels of company
performance. One standard deviation of improvement on their bell curve of
integrated talent management systems was associated with changes in market value
from Rs 7,50,000 to Rs 30,00,000 per employee.

Employee productivity was calculated as the logarithm of net sales per employee
using gross rate of return on assets (GRATE), which is less sensitive to depreciation
and other non-cash transactions, and Tobin’s q, a future-oriented and risk-adjusted
capital-market measure of performance that reflects both current and anticipated
profitability and often mirrors the price that the market will pay for intangible assets
(goodwill).
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Further research that included three US surveys and the experience of more than
2,400 companies continued to show significant impact of systems that select,
maintain, develop, and reinforce employee performance on both market-based and
accounting-based measures of company performance (while statistically controlling
for R&D investment, industry market changes, capital improvements, sales growth
trends, etc.). Moving from the 60th percentile of integrated HPWS to the 80th
percentile improved market valuation by $20,000 per employee. This reflects both
operational excellence and alignment with the company’s strategy. When the
elements are present, but not aligned with the company strategy there is a 27% drop
off in measured gains.

Gallup Management Journal reported the following in 2001:

• 19% of all employees are actively disengaged from their jobs

• 55% of all employees are not engaged in their jobs and

• 26% of all employees are engaged in their jobs

at a cost of $292-355 Billion per year to the US economy.

Great people management equals great shareholder value: European companies

with the best human capital management deliver around twice as much shareholder
value as their average competitors.

Reduce Cost

ASTD and SHRM studied companies that are renowned for their ability to retain top
talent (Linbeck, Kennedy& Rossi, Zachary, Dow Chemical, Edward Jones, Great
Plains, Sears, and Southwest Airlines). One key finding was that all of these
companies implemented competency-based position profiles so that employees
understood the skills and abilities required to move into leadership positions.

You must also avoid wasting your money on bad human capital investments:

The 2001 Watson Wyatt Human Capital Index study showed precisely which HR
practices have an impact on the bottom line. 49 specific HR practices across 6
dimensions played the greatest role in creating shareholder value. Additionally, one
dimension, "Prudent Use of Resources" identifies six practices that diminish
shareholder value (e.g. training that is not connected to the business objectives and
not evaluated for ROI).

A new book shows how Microsoft, Intel, Nokia, Starbucks, Singapore Airlines and 20
other world-class organizations are luring and holding high-quality employees. One
senior executive said, "Microsoft has a market capitalization of $450 billion, the
largest in the world. If you add up every desk and chair, every computer, every
building, every piece of land, everything we own, including the $17 billion or so we

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have in the bank, it comes to about $30 billion. If you then add in things like goodwill
and other financial assets, maybe you'll come up with another $70 billion, if you
really struggle. But that means that there is $350 billion more that people have given
us credit for that is not there. What is it? Well, it's the stuff in smart people's heads.“
With that knowledge Microsoft has built and maintains a human capital management
system very similar to Mundo Strategies’ system to prevent employees from wanting
to leave the company even as the stock took a beating in the past few years.

Supervisors who received training in how to listen better and resolve employee
problems found that lost-time accidents were cut by 50 percent, formal grievances
were reduced from 15 to 3 per year, and productivity goals were exceeded.

Retention is one of the more obvious areas that effective talent management
practices can affect. What attracts and retains high performers?

• 79% stay because of opportunities for advancement

• 69% stay because their job is redesigned

• 65% stay because they are learning new skills in their current job.

Why do high performers resign?

• 56% leave because they are dissatisfied with company management

• 56% leave due to inadequate opportunity for promotion

• 50% leave due to dissatisfaction with pay

Reduce Cycle Time

There is very little research into the impact of talent management practices on
company cycle time. One classic work on cycle time showed that steel mini-mills
using a high-commitment approach to management required 34 percent fewer labour
hours to make a ton of steel and had a 64 percent better scrap rate than mini-mills
using a command and control approach.

Increase Return to Shareholders & Market Capitalization

The five highest return to shareholders from 1972-1992 (Southwest Airlines Co.
21,775%, Wal-Mart Stores, Inc. 19,897%, Tyson Foods, Inc. 18,118%, Circuit City
Stores, Inc. 16,410%, and Plenum Publishing 15,689%) differentiated themselves
from their competitors and the market only through the way they managed their
people during the infancy of talent management.

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Whereas at the start of the 1990s studying its earnings and fixed assets and adding
a token amount for goodwill invariably gauged a company’s stock market valuation,
by the end of the decade a seismic shift had taken place. When accountants Ernst &
Young came to look at the issue, they found that the largest slice of most companies'
market capitalization was held in intangibles - primarily, the talent, knowledge and
teamwork of its staff. In high-tech companies like Nokia, the percentage was as high
as 95 per cent; but even 'old economy' stalwarts like BP, despite its huge
investments in oil platforms and exploration equipment, notched up a significant 74
per cent.

The upshot was that even companies operating in the same sector with similar
earnings could experience widely differing stock valuations. Those ignoring the new
emphasis on 'intangibles' invariably found themselves penalized by the markets.

Watson Wyatt also reported that a 26% increase in market value in 2000 was driven
by common talent management best practices:

• Use of knowledge and contract workers

• Recruiting excellence

• Consistent pan-European HR practices

• Good union-management relations

• Lack of hierarchy, clear leadership

• Teamwork and 360° feedback

• Customer-focused environment

• Remuneration

• Sharing information with employees

The difference between a non-strategic HR system and one that has removed the
barriers to performance is dramatic. Improving the relative sophistication of the HR
system by adopting best practices does not provide measurable value (20%-60%
adoption of a strategic HR system). Integrating the strategic elements of HR into the
broader fabric of the organization provides a significant improvement in shareholder
value (60%-80%).

When HR systems have adopted best practices and aligned those systems with
business priorities and initiatives they return the greatest shareholder value (80%-
100%).

The five-year survival rates of initial public offering showed that firms whose talent
management practices scored in the top one-sixth of IPO firms had a 33 percent
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higher probability of surviving than those in the lowest one-sixth. Firms in the upper
one-sixth in providing financial rewards to all employees, not just managers, had
almost twice as much chance of surviving for five years, according to research by
Theresa Welbourne of Cornell and Alice Andrews of Vanderbilt.

Conclusion
Companies that want to grow and improve their systems and processes must focus
on the people practices that allow or foster that growth and improvement. The best
practices are known. The key variables (leadership competencies, experience, skill,
interest, rewards) that motivate people to succeed have been identified and
successfully put into practice. Talent management is no longer a cutting-edge field
being solely tapped by pioneers. It is a viable path toward improving organizational
performance. Organizations that don’t want to be left behind must identify, adopt,
and invest in talent management. The alternatives are not very attractive.

Identifying and developing talent in a complex environment requires talent managers

to take a singular approach. There is no one size to fit all organizations and across
all time frames. While there are some common principles of good practice ,
peoples’s understanding of talent and how they manage it will be tightly defined to
their particular organization and its business strategy.

Page | 19
References

Abstract 1

Most large companies talk about talent management but few have effectively defined
and executed a fully integrated plan. There are many benefits of taking on the
complicated multi-layered project of creating an integrated talent management
structure .

Ramesh C. Manghirmalani

Thu, Jun 26, 2008 09:28:56 IST

URL :- http://www.merinews.com/article/talent-management/136416.shtml

Abstract 2

Talent management

Page | 20
IT TAKES Talent to spot Talent! A tone deaf will never be able to appreciate the
music of maestros. Only a seasoned jeweller would know that all that glitters is not
real! And, only those who can recognise the worth of a diamond can value it, for
others it's just a stone! Talent is doing easily what others find difficult.

SALMA ALIAKBAR

URL :- http://www.hinduonnet.com/jobs/0407/2004072800100100.htm

Abstract 3
Dec 07, 2009 – Following fairly severe economic slowdown across global
economies, cost reduction efforts naturally took centre stage as organisations sought
to maintain profitability and remain competitive.

A shift is underway, however, because organisational reactions to the downturn have

had major unintended consequences for the relationship between organisations and
their employees from both a brand and talent management perspective.

It’s important to recognise that the decisions you make in regards to talent
management this year have far reaching consequences, often setting the tone for
the relationship with potential employees for years to come. Basically, the only thing
more worrisome than the prospect of too much change is too little change, especially
in a downturn where many competitors are chasing too few customers and dollars .

URL:- http://www.24-7pressrelease.com/press-release/retention-and-talent-
management-following-a-downturn-127905.php

Abstract 4

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By Mitch Betts

November 16, 2009 06:00 AM ET

Surveys show that "talent management" -- the process of attracting, developing

and retaining highly skilled workers -- will be one of the top priorities for human
resources managers in 2010, yet only 20% of HR managers say they do a very good
job of it.

URL:-

http://www.computerworld.com/s/article/345163/Talent_Management_Yields_Dramat
ic_ROI

Abstract 5

Money alone cannot buy job satisfaction

Martin Dewhurst, Matthew Guthridge and Elizabeth Mohr

Last Updated: December 08. 2009 7:12PM UAE / December 8. 2009 3:12PM GMT

URL:-

http://www.thenational.ae/apps/pbcs.dll/article?
AID=/20091208/BUSINESS/712089944/1137

Abstract 6

Talent management: driver for organizational success

HR Magazine, June, 2006 by Nancy R. Lockwood

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In today's global economy, companies must continually invest in human capital. In
the role of business partner, HR leaders work closely with senior management to
attract, hire, develop and retain talent. Yet the skills shortage presents both socio-
economic and cultural challenges as talent crosses borders. Thus, in view of
workforce trends such as shifting demographics, global supply chains, the aging
workforce and increasing global mobility, forward-looking organizations must rethink
their approach to talent management to best harness talent. By doing so, they will be
positively positioned to succeed in a highly competitive marketplace. In addition,
organizational culture, employee engagement and leadership development have a
significant impact on talent retention. Taking these factors into consideration, an
integrated approach to talent management offers a pathway toward sustaining
outstanding business results.

URL:- http://findarticles.com/p/articles/mi_m3495/is_6_51/ai_n26909340/

Abstract 7

Talent Management: Strategies and Challenges

The vivacious nature of global business is putting an ever-increasing pressure on

companies to be constantly on the lookout for incomparable talent in a market where
demand far exceeds supply. Given the current focus on the linkage between talent
and an organisation's business challenges and strategies, effective strategy
execution requires sufficient numbers of the right people with the right skills and
knowledge, in the right roles. Pressing business necessities, such as increasing
turnover as the economy improves, globalisation of markets and labour forces,
aggressive competition and heightened corporate oversight, have intensified the
need to acquire, develop, deploy, motivate and retain key talent. Getting the right
people with the right skills into the right jobs, a common definition of talent
management is the basic people management challenge in organizations. While the
focus of talent management tends to be on management and executive positions,
the issues apply to all jobs that are hard to fill. This has made talent management
one of the most pressing issues facing senior business executives.

By - Dr. Vidyeswari V Jitha G. Nair

Lecturer (HR)
SCMS, Cochin

Abstract 8

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Talent Management Made Simple

So you're trying to wind your way through the tangled web of Talent Management?
Your Uncle Paul is here to help you. As a Talent Management Consultant, I've seen
and heard a lot of things. The best ones are highlighted here, for your reading
pleasure!

January 23, 2009

URL:- http://talent-management.jp3.com/

Abstract 9

Talent management: driver for organizational success.

Publication: HR Magazine
Publication Date: 01-JUN-06

In today's global economy, companies must continually invest in human capital. In

the role of business partner, HR leaders work closely with senior management to
attract, hire, develop and retain talent. Yet the skills shortage presents both socio-
economic and cultural challenges as talent crosses borders. Thus, in view of
workforce trends such as shifting demographics, global supply chains, the aging
workforce and increasing global mobility, forward-looking organizations must rethink
their approach to talent management to best harness talent. By doing so, they will be
positively positioned to succeed in a highly competitive marketplace. In addition,
organizational culture, employee engagement and leadership development have a
significant impact on talent retention. Taking these factors into consideration, an
integrated approach to talent management offers a pathway toward sustaining
outstanding business results.

Abstract 10
Managing talent in a downturn

Liz Grime, Renie den Herder. Training and Development in Australia. Surry Hills:
Aug 2009. Vol. 36, Iss. 4; pg. 6, 2 pgs

Abstract (Summary)
Page | 24
The payoff from this change in focus is reflected, not just in a significant boost in
employee competencies, but also in greater employee engagement. This feeds into
the culture of the organisation, and leads to commitment to the organisation's
performance that is freely given rather than a forced show of commitment. Richard
Goyder of Wesfarmers says: "You don't get growth simply by demanding it; you get it
by creating a culture where employees want to see growth happen, and see their
part in it".

In addition, leaders need to provide clarity to employees about the organisation's

strategic direction. And they need to address employees' fundamental concerns, as
well as being willing to "share the pain" with employees. Beyond this, they need to
find that point of balance where they provide positive leadership and yet they are
willing to listen to employees.

Liz Grime is a member of Hay Group's consulting team in Sydney. She holds a
Masters in Organisational Psychology from UNSW and a first class Bachelor of Arts
(Hons. Psychology) from the University of Manchester, U.K. She possesses
expertise in the impact of organisational factors on human behaviour. Her current
consulting work covers leadership development, performance management, team
effectiveness and coaching.

Renie den Herder is a member of Hay Group's consulting team in Sydney. Her
experience with Hay Group was gained in The Netherlands and Australia. She holds
a Masters in Organisational Psychology from Utrecht University, The Netherlands.
She has particular expertise in developing and facilitating (custom-made) training
and development programs, for the development of management, HR professionals
and employees.

Abstract 11

Talent Management Continues to Go High Tech

Anonymous. HR Focus. New York: Oct 2009. Vol. 86, Iss. 10; pg. 8, 2 pgs

Abstract (Summary)

As the economy continues to move toward recovery, talent management remains a

key initiative. Many employers are planning to replace their manual talent
management processes with automated ones that integrate compensation,
recruiting, performance management, learning management, career development,
and succession planning, according to a survey by Watson Wyatt. The survey also
found that 37% of companies have made talent management a higher priority as a
Page | 25
result of the economic crisis, while only 15% of employers have made it a lower
priority.

Abstract 12

Talent management
Sarah Cook, Steve Macaulay. Training Journal. Ely: Sep 2009. pg. 44, 5 pgs

Abstract (Summary)

Tim Richardson, head of leadership development and talent management, said in a

podcast in 2007: "We've got an active pipeline management going on, so we're
looking at them and tracking them through their career from a manager, through to
senior manager, director and partner

Abstract 13

Success through succession at Hudson's Bay Company; Talent-management

system proves its worth in a takeover
Anonymous. Human Resource Management International Digest. Bradford: 2009.
Vol. 17, Iss. 5; pg. 6

Abstract (Summary)

This paper aims to highlight the success of the Hudson's Bay Company (HBC)
talent-management and succession strategies. It describes the origins of the talent-
management and succession strategies and the advantages they brought during a
hostile takeover. It reveals that the top team selected to report directly to the new
HBC was made up completely of internal HBC executives, that internal promotions to
supervisory roles rose by 40 percent in the first year after the takeover, and that the
downward trend in staff turnover continued. The paper highlights the importance to
Page | 26
the company of having leadership profiles and regular talent-review sessions, and
using them to ensure individualized development plans and support. It demonstrates
how to engage top talent through a sound talent-management and succession
strategy.

Abstract 14

Talent Management Takes On New Urgency

Bill Leisy, Dina Pyron. Compensation and Benefits Review. Saranac Lake: Jul/Aug
2009. Vol. 41, Iss. 4; pg. 58

Abstract (Summary)

Talent management has a direct and quantifiable connection to overall business risk
management, business improvement and cost management. In fact, there are
serious potential pitfalls in not having the right people with the right skills in the right
jobs at the right time. An amalgam of forces is bringing talent management to the
forefront of today's human resource risk concerns--forces that include the ongoing
crisis in financial and economic markets, changing business strategies, ups and
downs in recruitment as well as retention and an aging workforce. But perhaps the
most powerful force at play is globalization. With many organizations now viewing
the entire world, not just a single country or region, as the milieu in which they
conduct business, managing talent optimally is an increasingly complex and critical
goal. The most basic talent management programs focus almost entirely on filling
open positions with qualified individuals. But at the other end of the continuum, and
far more likely to contribute to an organization's success, is a fully integrated
approach that addresses all segments of the talent management life cycle--
recruitment, development, retention and transition--and aligns each segment with the
organization's vision, mission and values. Also, any organization that maintains a
global presence needs to maintain a truly global perspective, striving for consistent
implementation of an integrated talent management program throughout the world.

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 Abstract 15

A Supply Chain Model for Talent Management

Peter Cappelli. People and Strategy. New York: 2009. Vol. 32, Iss. 3; pg. 4, 4 pgs

Abstract (Summary)

Talent management is the process through which employers anticipate and meet
their needs for human capital. Getting the right people with the right skills into the
right jobs -- a common definition of talent management -- is the basic people-
management challenge in any organization. Failures in talent management may be
more recognizable than the concept itself. Helping the organization achieve its goals
begins with recognizing that the most important problem faced by virtually all
employers is uncertainty. This results in a need for a more rapid response to
changes in competitive environments. The risk-management problem facing talent
management is analogous to problems already analyzed in the field of operations
research. The most important approach to developing employees increases the
value of employee contributions by speeding the process that gets them to jobs that
add greater value to the organization. Career decisions used to be the most
important task performed by the executives and managers in charge of talent
management.

Abstract 16

Talent Management: Quantifying Risks and Returns

Richard Arvey. People and Strategy. New York: 2009. Vol. 32, Iss. 3; pg. 15, 1 pgs

Page | 28
Abstract (Summary)

Peter Cappelli makes several observations and remarks that are quite insightful. He
argues that there is a new way to think about talent management, and he particularly
discusses the role of risk in viewing possible mismatches between the talent needed
in an organization and the talent available to meet the organization's needs. Cappelli
suggests using multiple choices and strategies (a mix and match perspective). The
technique is fairly straightforward where what is needed is quantitative data on the
variance, the returns and the covariances or correlations between different assets
with regard to their returns.

Abstract 17

Creating an Innovative Talent Pool

Denis Fred Simon, Cong Cao. The China Business Review. Washington: Nov/Dec
2009. Vol. 36, Iss. 6; pg. 34, 5 pgs

Abstract (Summary)

Intense international competition and an increased emphasis on innovation as the

key to economic and technological leadership has made talent a primary
differentiator for countries and companies alike. This helps to explain why over the
last decade so much attention has been focused on the training, cultivation, and
retention of critical talent around the world. Millions of Chinese students have
received degrees in science, engineering, and management since 1999, when
undergraduate and graduate enrollments expanded significantly. Government
officials have tried to upgrade the existing Chinese science and technology (S&T)
workforce and improve research and development performance by dispatching many
talented individuals overseas for advanced education and research experience to
expose them to top international standards of science and technological know-how.
Despite high demand for S&T talent, close to one-third of Chinese college graduates
over the last three years have been unable to find satisfactory employment.

Abstract 18
The fall and rise of talent management
Guy Sheppard. Personnel Today. Sutton: Oct 27, 2009. pg. 10, 2 pgs

Abstract (Summary)

Nurturing talent is a long-term, often resource-hungry exercise that may be difficult to

justify during a recession. Over the past three years, the proportion of employers

Page | 29
undertaking talent management activities has fallen from about half to just over one-
third, according to research carried out for the Chartered Institute of Personnel and
Development (CIPD). It concludes that cost is creating a barrier to their use.
However, one trend that emerged in the CIPD research suggests that effective use
of talent management is being made in response to the recession. Philip Clarke co-
owner and director of HR consultancy Independent, is optimistic that the importance
of talent management is recovering, partly because the recession has resulted in a
marked shift away from big salaries to secure talent. Clarke argues that the starting
point for the long-term nurturing of talent must be to question the organization's
vision and values. Once you understand that, you can start to build a long-term talent
strategy.

Abstract 19
Talent Management at Homeland Security: A Corporate Model Suggests a
Recipe for Success
Thomas D Cairns. Employment Relations Today. Hoboken: Fall 2009. Vol. 36, Iss.
3; pg. 19

Abstract (Summary)

The downturn in the US economy and rising unemployment have not slowed the
talent wars. Instead, the talent wars have escalated, as the need to hire, promote,
and retain talent increases and the supply of talented people decreases. This article
reviews the essential elements of General Electric's effective talent-management
process and compares them with those of a federal government agency. The
purpose of this exercise is to highlight the key factors of success and determine how
they can be transferred to obtain successful outcomes in other organizations. Talent
management encompasses a broad range of HR practice areas -- recruiting and
staffing, performance management, succession planning, professional development,
diversity, and culture. The authors examine the elements of Senior Executive
Service's talent management using criteria from the third largest federal agency, the
US Department of Homeland Security. The culture of the federal government varies
widely by agency.

Abstract 20
BRINGING TALENT INTO FOCUS
Jennifer J Salopek, Paul Harris, Paula Ketter, Michael Laff, et al. T +
D. Alexandria: Oct 2009. Vol. 63, Iss. 10; pg. 40, 3 pgs

Abstract (Summary)

After a period of phenomenal growth more than doubled the company's employees
and increased its retail locations five-fold, the need for internal leadership candidates
became dire. The pipeline was dry, says Mary Pater, director of talent management
and learning strategy at Luxottica Retail. The known talent pool was down to about
30 people when the training and development organization became involved. Now
Page | 30
directed by performance and potential, the training and development team targets a
pool of 5% to 10% of associate's with highly focused career development plans,
cross-functional training sessions, simulations and action learning, mentoring,
coaching, and follow-up in a seven-week "Leadership Challenge" program that
enjoys exceptional executive involvement and support. The training and
development organization employs 60 professionals who are mostly field-based. By
leveraging Web-based delivery and reusable learning objects, time to deploy the
new initiative was cut from the five to nine months per module to eight months for the
entire program of 12 basic and five intermediate modules.

Abstract 21

Comprehensive research, proven strategies, and business-driven talent

management solutions for HR and Training executives.
Based on Bersin & Associates analysis of more than 1 million data elements from
700+ global corporations.

"The Bible of Today's Corporate Talent Management solutions."

URL:- http://store.bersinassociates.com/hitm.html

Page | 31
Web-Addresses -

1. URL :-

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2. URL:-

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3. URL:-

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4. URL:-

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Cg&sa=X&oi=book_result&ct=result&resnum=2&ved=0CAwQ6AEwATge#v=o
nepage&q=talent%20management%20abstract%20articles&f=false

5. URL:-

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http://www.entrepreneur.com/tradejournals/article/192352084_4.html

6. URL:- http://toostep.com/insight/talent-management-during-recession

7. URL:-http://testfunda.com/examprep/mba-resource/current-
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THANK YOU.....!

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