TALENT MANAGEMENT Effective and Future Strategies By HARSHIT

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

“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

Synopsis 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

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

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

Understanding Talent Management & The Global Scenario 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 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

Understanding Talent Management & The Global Scenario 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 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.

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

Talent Management - Integration Management Elements of Talent Management Talent Planning Measure and Report Recruiting Analyze Succession Planning Lead Plan Talent Profiles and Objectives Advance Evaluate Performance Management Develop Compensation Management Learning & Development Career Planning

Talent Management – Integration Management 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” ?

Talent Management – Integration Management Integrated Talent Management Measure and Report Succession Planning Compensation Management Career Planning Learning and Development Y Y Y How can we hire/develop/retain them? Y Y Y Are we retaining the best workers? Y Y Y Who are our top performers? Where did they come from? Do workers have the SKILLS needed to achieve performance goals? Y Recruitment Performance Management Talent Planning Competency Management Y Y

Talent Management – Integration Management 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

Talent Management – Integration Management INNOVATION MOMENTUM TECHNOLOGY

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

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

Building Sustainable Leadership & Futuristic Talent Management Strategy Talent Management - Simplified 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

Building Sustainable Leadership & Futuristic Talent Management Strategy 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 best……Focus on the rest.

Building Sustainable Leadership & Futuristic Talent Management Strategy Traditional Talent Management Acquire Develop Deploy Retain Focus: Managing Best People Futuristic Talent Management Acquire Develop Commitment CONNECT Capability Deploy Retain Alignment Enhanced Performance Focus: Managing Best Positions

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

Talent Acquisition “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 Individual Organization es Expe lity Rew ards ctatio n s Interest s Abilities Knowled ge Goals Sk il ls St ies g e rat Stru ctur ure Cult e Man agem ives ona Pers Object es lu Va ent

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

Talent Retention 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?

Talent Retention Source : Hudson / Vlerick Hipo Research Study

Talent Retention Critical Elements of Attracting and Retaining TOP Talent Constructive Relationships at Work Culture of Respect and Inclusion Workplace Flexibility Wellness, Health and Safety ATTRACTION RETENTION Opportunities for meaningful work Provision of Employment is Secure and Predictable Benefits, Compensation are Fair and Attractive Learning and Development