TALENT MANAGEMENT

AKANKSHA
RATHORE

BEGINNING

The term was coined by McKinsey & Company in 1997

The profession that supports talent management
became increasingly formalized in the early 2000s
While some authors defined the field as including
nearly everything associated with human resources

WHAT IS TALENT?
According to McKinsey; talent is the sum of
a persons abilities,
his or her intrinsic gifts,
skills, knowledge, experience ,
intelligence,
judgment, attitude, character, drive,
his or her ability to learn and grow.

WHO ARE TALENTED PEOPLE?

They regularly demonstrate exceptional ability

and achievement over a range of activities
They have transferable high competence
They are high impact people who can deal with
complexity

TALENT MANAGEMENT

Talent management refers to the anticipation of

required human capital for an organization and the
planning to meet those needs

The purpose of TM is to ensure that the right supply of

talented workforce is ready to realize the strategic goals
of the organization both today and in the future

WHY ORGANIZATIONS NEED

TALENT DEVELOPMENT

To compete effectively in a complex and dynamic

environment to achieve sustainable growth
To develop leaders for tomorrow from within an
organization
To maximize employee performance as a unique source
of competitive advantage
To empower employees:
Cut down on high turnover rates
Reduce the cost of constantly hiring new people to
train

Workforce Planning: Integrated with the business

plan, this process establishes workforce plans, hiring
plans, compensation budgets, and hiring targets for the
year.
Recruiting: Through an integrated process of
recruiting, assessment, evaluation, and hiring the
business brings people into the organization.
Onboarding: The organization must train and enable
employees to become productive and integrated into
the company more quickly.

Performance Management: by using the business

plan, the organization establishes processes to
measure and manage employees. This is a complex
process

Training and Performance Support: of course this is

a critically important function. Here we provide learning
and development programs to all levels of the
organization.

Succession Planning: as the organization evolves and

changes, there is a continuous need to move people into
new positions. Succession planning, a very important
function, enables managers and individuals to identify the
right candidates for a position. This function also must be
aligned with the business plan to understand and meet
requirements for key positions 3-5 years out. While this is
often a process reserved for managers and executives, it is
more commonly applied across the organization.

 Compensation and Benefits: clearly this is an integral part of

people management. Here organizations try to tie the
compensation plan directly to performance management so that
compensation, incentives, and benefits align with business
goals and business execution.
Critical Skills Gap Analysis: this is a process we identify as
an important, often overlooked function in many industries and
organizations. While often done on a project basis, it can be
"business-critical."

 For example, today industries like the Utilities,

Telecommunications, and Energy are facing large
populations which are retiring. How do you identify the
roles, individuals, and competencies which are leaving?
What should you do to fill these gaps? We call this
"critical talent management" and many organizations
are going through this now.

TALENT MANAGEMENT STRATEGY TO CREATE A HIGHERPERFORMING WORKFORCE

Align Individual Goals with Corporate Strategy

Create Highly-Skilled Internal Talent Pools
Develop Collaboration
Create a Pay-for-Performance Culture
Right person at right place

WHY TALENT IS OVERLOOKED

Theres a problem that small-to-midsized but fastgrowing private companies often dont see coming until
the damage is done. Namely they dont recognize until
its too late just how much value is being lost owing to
immature talent development, retention, evaluation and
recruitment processes.

Prioritization - The very nature of high-growth means that

a company is so focused on opportunities that it often
doesnt notice the ways that sub-optimal talent processes
nibble or even bite at performance

TRENDS IN TALENT MANAGEMENT

Talent War
Technology and Talent Management
Promoting Talent Internally
Talent Management to rescue HR

TALENT MANAGEMENT CRISIS OF INDIA

Traditional education system which doesnt have any
relevance to the new economy. India produces 3 million
graduates and a half millions engineers annually. Indias pool
of university graduates is estimated to be 14 million-1.5 times
that of China. Yet less than th of this pool are employable
in organized industries, given poor linguistic and social skills.
Equally, the curriculums are excessively focused on learning
theories with very few skills applicable to industry of today.

 Estimates suggests that by the year 2013, Banking

industry
will
add
1.1
million
new jobs, Retailing will add 1.5 million jobs, Telecom 4.
6 million and Hospitality 33million
jobs. Widespread
thrust on humanities based education, poor quality
of vocational education and absence of vocational
education in the service sector may find it difficult to
cater to the demand for the required job holder

The Top 3 Benchmark

Firms In Recruiting and
Talent Management

 First Merit Corporation - Financial Services

company Akron, United States of
America
General Electric- Energy Technology
Infrastructure New york
Microsoft- Software Company - USA

DIFF. BETWEEN HR AND TM

Human Resource Management

Talent Management

Broad Scope (Entire Employees)

Focus on Segmentation (key group of

core employees and key positions )
Focus on potential people

Emphasis on egalitarianism
Focus on administrative functions

Focus on the attraction, development

and retention of talent

CASE STUDY

 Apple
Inc. is
an
American multinational
corporation headquartered in Cupertino, California
Apple was founded by Steve Jobs, Steve Wozniak,
and Ronald Wayne on April 1, 1976, to develop and sell
personal computers. It was incorporated as Apple
Computer, Inc. on January 3, 1977, and was renamed
as Apple Inc. on January 9, 2007, to reflect its shifted
focus towards consumer electronics.

 Apple became the most valuable corporation in the

world based on market capitalization, surpassing every
firm in the technology industry and every other industry!
As a consumer products company, its prolonged growth
spurt is even more amazing because it has continued
through economic times when consumers are reluctant
to spend what little they have. Considering that Apple
was near bankruptcy in 1997, its story is both
extraordinary and noteworthy

APPLE TALENT MANAGEMENT APPROACHES

Agility Allows for Innovation into Completely New Areas
Apple has an ability to shift into and dominate completely new
industries every few years. For most of its history, Apple was a
computer company (and its name used to be Apple Computer),
but in the last decade Apple tackled the music industry with the
iPod device and iTunes distribution channel. Next Apple
conquered and dominated the smartphone industry with the
iPhone and App Store. Most recently Apple challenged the PC
as we know it and is in the process of disrupting the publishing
industry. This ability to successfully shift from one industry to
another in a few short years is known as agility

 A great deal of Apples agility comes from the direction

and vision of its senior leadership and its corporate
culture, which reinforces the need to get ready for the
next big thing. At Apple, there is a cultural expectation
that after succeeding in one task, you will immediately
move on to something completely different. The rapidly
shifting work load means than an employee bored with
their work wont be for long because the work and the
focus will change, a major attraction factor that brings
in recruits desiring the challenge of radical change

 Build and Reinforce a Performance Culture

The rewards and recognition programs at Apple dont include a
component for effort or trying only final results. Rather than
celebrating numerous product milestones, only the final product
unveiling is worthy of a major celebration. A performance culture
requires significant differentiation based on performance, and its
clear that in this culture, the top performers and those who are
working on mission-critical products are treated significantly
differently. Treating top performers differently may cause some
employees to be irritated, but treating all employees exactly the
same will frustrate your high-impact top performers and cause them
to leave.

 Rather Than a Work/Life Balance, Emphasize the Work

Apple is proud of its long-established culture. You wont
find the term balance anywhere on the career site;
instead, Apple makes it clear it is looking for extremely
hard-working and committed individuals. It reinforces the
hard work message several times, including
Making it all happen can be hard work. And you could
probably find an easier job someplace else. But thats not
the point. And: We also have a shared obsession with
getting every last detail right. So leave your neckties, bring
your ideas.

 If you dont care about getting every precise detail

perfect, great work, and a lot of it, Apple makes it
crystal clear that this is not the place for you.

THANKS