A PROJECT REPORT ON

TALENT MANAGEMENT AT

BY DEEPIKA SANGHI MBA 3rd SEM

CONTENT

ACKNOLEDGEMENT . 03 CERTIFICATE .. 04 PREFACE. 05 COMPANY PROFILE 06 INTRODUCTION. 24 LITERATURE REVIEW. 32 RESEARCH METHEDOLOGY. 35 ANALYSIS AND INTERPRETATION 38 CONCLUSION 41 SUGGESTION42 APPENDIX-I 45. APPENDIX-II..... 47

ACKNOLE

E ENT

It is privilege to express my gratitude & sincere thanks to BVM College of Management Education Gwalior has given me the opportunity for summer training report on the topic TALENT MANAGEMENT I am thankful to Mrs Savita Singh (chair person),Mr. Manoj S. kushwah (Director), Prof. A K saxena (Director Academic) Dr. V K GUPTA (Principal), Dr. Ajay Phaltankar (HOD),Mr. Vikas Gupta (Head Training & Placement) and faculty guide Mrs. Richa Benarjee for her valuable guidance and support throug hout report preparation.

It was a great privilege for me to get an opportunity to complete my summer training at J.K. TYRES on the subject of TALANENT MANAGEMENT This project work is not only a proof of my sincere effort but also an outcome of inspiration and moralsupport given by the employees as well as the management of J.K. TYYRES .

First and foremost I take this opportunity to express my sincere gratitude to Mr Omkar Singh for providing me an oppourtunity to complete summer training project entitled TALANT MANAGEMENT in their organisation for period of forty five days . I am indebted to Mr. Vishnu Bandil for his continuous support and guidance , which sharpened by vision on this project.

My sincere thanks and respect to all the senior officer and partic ipants who formed the basis of this study and who were extremely cooperative during data collection deserve my hart felt thanks.

DATE : . LACE :-

DEE KA SANGHI MBA II sem

CERTIFICATE
This is to certify that Deepika Sanghi is a student of MBA II SEM BVM college of MANAGEMENT Education Gwalior MP. We have no objection for him to carry out a project work titled TALENT MANAGEMEN in our Organisation and for submmiting the same to the Jiwaji University as a part of fulfilment of the MBA Program. During the training he has shown intrest in learning various things and given good Suggesssion , She has done his proect on TALENT MANAGEMENT

WE wish her successful carrier For. J.K. INDUSTRIAL LIMITED

B .D. ROY (CHIEF H.R & Admin)

PREFACE
A project is a scientific and systematic study of real issues on a problem with the application of management concept and skills. The study can deal with small or big issues in any division of an organization. It can be case study where a problem has been dealt w ith, through the process of management. The essential equipment of a project this that, it should contain scientific collection of data, analysis and interpretation of data leading to valid conclusion Summer Training is an essential part in M.B.A curriculum. It enables the student to share the real experience in industry. My summer training has placed in J.K TYRES for the period of Eight weeks in GWALIOR. The topic of my project was Talent management This project report tends to give a sharp picture of sense of INDUSTRIAL RELATOION among employees of JK TYRE.

INDUSTRIAL PROFILE

INDUSTRIAL PROFILE
J.K. Tyre About the Company
J.K. Organizations flagship company, J.K. Tyre, is the countrys leading four-wheeler tyre manufacturer, and the 18th largest tyre manufacturer in the world. Set up in 1977, foreseeing the advent of an automotive revolution in the country,J.K. Tyre was set up in technical collaboration with General Tyre international co, USA. There has been no looking back since then, with J.K. Tyre racing ahead year after year, registering growth rates of over double that of the industry average. Ever since its inception it has been J.K. Tyre's belief in the value of technological superiority that has made it grow by leaps and bounds. This division produces and sells tyres and tubes under the brand name "J.K. Tyre" for Truck, Buses, Passenger Cars, Jeeps, Light Commercial Vehicles, Multi Utility Vehicles and Tractors. The company pioneered Steel Radial Technology in India in 1977 and continues to be the industry leader in the Radial segment in India. J.K. Tyre is the only Tyre Manufacturer in the country to produce high performance 'T' & 'H' -rated steel radial tyres. J.K. Tyre has consciously followed a policy of continuously modernizing and expanding its tyre manufacturing facilities to retain its edge in the market place. Our customer base covers virtually the entire Original Equipment Manufacturers (OEMs) in India together with Replacement Market for four wheeler vehicles, Defense and State Transport Units. Besides India, we have a worldwide customer base in over 45 countries across all 6 continents. To keep pace with the market demand as well as technological leadership in Indian market, J.K. Industries acquired Vikrant Tyres Limited, Mysore in 1997.
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J.K. Industries and Vikrant Tyres Limited are the only tyre companies in India to have received all three ISO 9001, QS 9000 and ISO 14001 certificates. This indeed is a true reflection of our commitment to system oriented approach. The company has a technical collaboration with M/s Continental AG, Germany, which is among the top five tyre manufacturers in the world to keep pace with latest technological developments. To stay at the forefront of technological advancements a state of art Research & Development Centre, HASETRI, was set up, which remains the nerve centre for providing cutting edge technology. In a short span of time it has emerged as the 17th largest tyre manufacturer in the world an achievement in itself. With three plants located in Rajasthan, Madhya Pradesh and Karnataka, J.K. Tyre is the largest manufacturer of truck and bus tyres in India. The truck and bus tyres produced account for nearly 74% of the total tyre business in India, thus giving J.K. Tyre an undisputed position. Additionally, J.K. Tyre is the only manufacturer of truck/ bus steel radial tyres, and the second largest manufacturer of 4-wheeler tyres in the country.

Location
In 1991 J.K. Industries setup a plant at Banmore, since it has been a symbol of quality for millions of people. Today it is very well known for its punch line J.K. TYRE - TOTAL CONTROL. Banmore plant is located 25 Kms. short of Gwalior on AB road. Banmore Tyre Plant manufactures and markets under the supervision of highly qualified technicians. The quality control standards are adhering to, at this modern manufacturing unit equipped with advanced machinery and technology. Research is ongoing process at JK Tyres well equipped laboratory. So, its development keeps pace in changing needs and trends.
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Organizati nal Structure

Vice President

Unit ead

B i

Unit 1

Support Service Unit 1 Support Service Unit 2 Support Service Unit 3 Support Service Unit 4 Support Service Unit 5

B iness Unit 2 B siness Unit 3 B siness Unit 4

BU # 1 - Mi ing & Di

ing

BU# 2 - Bias Tyre Processing BU# 3 - Radial Tyre Processing BU # 4 - Legal Excise & Dispatch (Logistics) SSU # 1 - Technical Services SSU # 2 - Engineering Services SSU # 3 - Commercial & Accounting Services Including Finance & Administration SSU # 4 - Personnel & R & Security SSU # 5 MIS & Industrial Engineering.

Company History
1951
y

y y

The company was incorporated as a private limited company in West Bengal in 14th February, 1951. Until 31st March 1970, the company was engaged in the managing agency business. Thereafter the company decided to undertake manufacturing activities and obtained a letter of intent in February 1972 for the manufacture of automobile tyres and tubes. The letter of intent was converted into an industrial licence in February 1974 for the manufacture of 4 lakh nos. each automobile tyre and tubes per annum. The company was converted into a public limited company on 1st April 1974. The manufacturing project was promoted by Straw Products Ltd and J.K. Synthetics Ltd. The company entered into technical collaboration with General Tire International Co., U.S.A., (a subsidiary of General Tire & Rubber Co., U.S.A.) for technical services for a period of 5 years and sales agreement for the supply of technical know-how, engineering and documentation for operational facilities (for a period of 8 years from 23.8.73). Under the collaboration agreement, the company has the right to use on its products the wording Made in collaboration with General Tire International Co., USA. The company's technical collaboration agreement with General Tire International Co., was renewed for a further period of 5 years. The overall working resulted in substantial profits despite a51-days strike as well as go-slow from 14th October. The strike had since then been resolved and amicable settlement was reached. Efforts were on to launch a new pattern in steel belted radial tyres. New steel radial tyres for Maruti Gypsy and Tata mobile were introduced The Company proposed to incur an expenditure of Rs300 lakhs for installation of latest and sophisticated R&D equipment. Several new patterns and sizes of tyres were introduced including a semi-lug Nylon Truck tyre, all of which were well received in the market. Investment, Ltd., Hidrive Finance Ltd., Panchanan Investment Ltd., and Radial Finance Ltd., J. K. International Ltd., Shivdham Properties Ltd., and J.K. Asia Pacific, Ltd., are subsidiaries of the company

1982 y 1987 y

1988 y

1989 y 1991 y

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1992 y

The J.K. International division expanded its activities by opening its office in Moscow besides starting Company's subsidiaries in U.K. & Honkong. The radial tyres for tractors and business launched in the previous year were well received. New radial tyres `Brute' and `Ultima' were introduced. The Company was in the process of developing steel belted radial tyres for the prestigious cars in the Mercedes Benz, Peugeot Daewoo race and Opel Astra. A new pattern developed for bus and trucks `PE-T8' was well received in the market. The company maintained its pace of growth, despite steep rise in raw material and input costs and competition. The Company effected an all round cost reduction and attained higher capacity utilization at both the tyre plants at Jaykaygram and Banmore. The T-rated Ultima tyres launched for new generation cars Found its acceptance in DCM Daewoo's `Ceilo'. Also J.K. Steel radial was chosen for Mercedes Benz India. The Company undertook to develop steel radials for GM' `Astra'. PAL's `Peugekot' FIAT's, `UNO' and M & M's `Ford'. The Company launched a premium truck tyre `Jet Trak' 39 which was introduced to meet the need of the heavy load market. The new tractor rear tyre `SONA' was well received in the market.

1993 y

1994 y

y y

1996 y During this period, a new Car tyre Jet Drive XS, the widest nylon car tyre for Maruti 800 was launched. Along with new semi-lug and heavy duty lug tyre for trucks, a new lug tyre for super heavy load applications Jet Trak 39 was also introduced. In the Radial category, Ultima XR Radial, a terrain tyre was introduced. All these products were well received in the market. y Both the tyre plants operated to full capacity. In line with JK tyre, the radials unit introduced the dual contact high traction and high performance Aquasonic steel radial car tyre. The unit also developed India's first and only H-rated ultima Xs' specially for Mercedes - Benz Cars. 2000 y The Company proposes to reduce its debt by Rs 125 crore in the current fiscal from the current level of Rs 635 crore by way of loan repayment.

y The Company and Indian Oil Corporation have entered into a marketing alliance for
installing digital air pressure gauges and setting up sales and services outlets at IOC petrol stations throughout the country. 2001 y Raghupati Singhania managing director of J K Industries has been appointed the 19th Chairman of Automotive Tyre Manufacturers Association, the representative body of tyre industry in India.

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2002 y 2003 y

J.K.Industries Ltd has informed BSE that CRISIL has assigned a P1+ rating to the commercial Paper programme of the company. J. K. Industries Ltd (JKI) has a new Marketing Director in Mr Ajay Kapila. Before joining JKI, Mr Kapila was Senior Vice-President (Sales and Marketing) at Kinetic Engineering Ltd. He was also Director on board and operational head of Kinetic's direct selling arm - Kinetic Marketing Services Ltd. Completes its comprehensive restructuring exercise of businesses that leads to its emergence as a pure automotive tyre company. Along with the de-merger of its nontyre business, Sugar and Agri Seeds, into separate companies namely JK Sugar Ltd and JK Agri-Genetics Ltd, JKI also completes the merger of Vikrant Tyres Ltd with itself J. K. Industries delists from Jaipur Stock Exchange divested its wholly-owned subsidiary called J.K. Drugs and

y y

y Pharmaceuticals Ltd to TEVA Pharmaceuticals of Israel.

2004 y 2007 y J K Industries Ltd has informed that its securities are delisted from Delhi Stock Exchange Association Ltd (DSE) w.e.f. January 29, 2004. JK Industries Ltd has informed that the name of the company has been changed from J K industries Ltd to JK tyre &Industries Ltd w.e.f. April 02, 2007.

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Core Values
JK Organization has been a forerunner in the economic and social advancement of India. It always aimed at creating job opportunities for a multitude of countrymen and to provide high quality products. It has striven to make India self reliant by pioneering the production of a number of industrial and consumer products, by adopting the latest technology as well as developing its own know-how. It has also undertaken industrial ventures in several other countries. JK Organization is an association of industrial and commercial companies and charitable trusts. Its member companies, employing nearly 50,000 persons are engaged in the manufacture of a variety of products and in diverse fields of commerce. 0 Trusts are devoted to promoting industrial, technical and medical research, education, religious values and providing better living and recreational facilities. With the spirit of social consciousness uppermost in mind, J.K. Organization is committed to the cause of human advancement. In short companys core values are 1. Caring for people. 2. Integrity including intellectual honesty, openness, fairness and trust. 3. Commitment to Excellence.

Mission & Vision Vision

To be amongst the most admire companies in India committed to be excellence.

Mission
1. 2. 3. 4. 5. 6. Be a customer obsessed company. No.1 Tyre brand in India. Deliver enhanced value at all stakeholders. Most profitable Tyre Company in India. Enhance global presence through acquisition. Motivated and committed team development for high performance organization.

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Functional Departments of JK Industries

There are the functional departments at JK Industries [JK] they are follows. 1) 2) 3) 4) 5) 6) 7) 8) 9) Production Engineering Technical Quality Assurance Materials Human Resource Management Production Planning Personal & Administration Secretarial Internal audit

10) Electronic Data Processing (EDP) 11) Industrial Engineering 12) Finance 13) Marketing 14) Technical services.

1. Production Department The production department has 1532 workers who are looking after production of tyres, tubes & Flaps at VTP. VTP presently has a production capacity of 10.30 lakhs tyres per annum and 8.10 lakhs tubes per annum. It has entered into a collaboration agreement with M/S continental tyres, Germany in 1998 for technology up gradation. 2. Marketing Department Products of J.K. Tyre have good acceptance both in domestic and international markets. Broadly, the customers are categorized into & segments like:  Original Equipment manufactures (Domestic & Exports)  Overseas Markets  Institutional sales &  Replacement Markets.

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It has been the supplies for tyres for VOLVO, ASHOK Leyland and Tata Motors. It is the largest exporter from India accounting 30% of the total quantity exported. Exports JK industries are exported to over 68 countries. Major countries include United States of America, Australia, United Kingdom New Zealand, Hong Kong Netherlands and most of Middle East, Africa and Asian countries. Marketing Strategy J. K. Tyres has adopted Total control campaign beginning with print campaign, which will focus on the companys research and development. The Company has targeted 17 top cities which accounts for more than 60 percent of radial tyre sales for its outdoor media involving billboards and double Decker buses in Mumbai. For joint promotions, JK Tyre will partner with Maruti Udyog Ltd Brands, Tata India & Fiat Uno for cars & Ashok Leyland & Tata for trucks, among others. Moreover, it will intensely pursue customer contact program and organize go-Karting events in 13 cities like Delhi, Indore, and Ahmadabad & Hyderabad. 3. Human Resource Management The main functions of HR Dept- of JKI at VTP is  Recruitment and Selection  Training & Development  Performance Appraisal  Implementing Incentive Schemes  Coordinating among different departments.  Maintenance of Industrial Relationship. 4. Finance Department Finance and Accounts  Preparation of MIS & BRR (Business Review Report)  Finalization of monthly, quarterly, half-yearly and annual reports of the  Co-ordination with statutory auditors & tax auditors  Finalization of cost accounts.
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company.

 Cost reduction and cost of quality report.  Review of books of accounts  Preparation of trial balance  Overhead position of BRR. 5. Quality Assurance Department The people of JK Tyre will have an organization committed to quality in everything they do. They continuously anticipate and understand customers requirements, convert these into performance standards for products and services and meet these standards every time. Full customer satisfaction is the motto.

Management Style
y y y y y y

Open & Free Communication Man Power Development Training Needs & Fulfillment CSR Active Participation Quality Excellence concept & Customer Care Integration to OE Supplies

Each Business and Support Service Unit work keeping in view the statutory requirements and companys profitability. Company has been awarded with number of Quality Awards.

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Financial performance
Particulars ------------------- in Rs. Cr. ------------------Sep '03 Sep '04 Sep '05 Sep '06 Sep '07

Liabilities Equity Share Capital Reserves Secured Loans Unsecured Loans Current Liabilities Provisions Total Liabilities 37.46 856.53 738.19 37.46 818.76 656.51 37.46 745.14 671.28 30.79 560.93 724.77 30.79 503.13 686.82

99.87

94.16

159.22

219.10

228.13

577.64 20.96 2330.65

641.54 21.42 2269.85

686.44 25.90 2325.44

784.08 27.59 2347.26

927.78 35.90 2412.55

Assets Gross Block Less: Accum. Depreciation Net Block Capital Work in Progress Investments Inventories 1,855.6 3 590.80 1,264.8 3 7.02 252.02 211.31 1,884.2 6 677.15 1,207.1 1 16.43 252.26 178.17 1,938.7 2 764.74 1,173.9 8 61.63 250.04 244.03 2,084.2 2 860.03 1,224.1 9 22.51 61.46 368.59 2,156.0 7 957.27 1,198.8 0 20.34 62.60 502.85

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Sundry Debtors Cash and Bank Balance Total Current Assets Loans and Advances Fixed Deposits Total CA, Loans & Advances Miscellaneou s Expenses Total Assets

412.59

449.52

411.79

477.89

435.52

14.39

26.83

30.22

33.03

23.87

638.29

654.52

686.04

879.51

962.24

143.15

112.71

134.92

144.14

155.00

10.93

11.40

5.89

6.29

5.35

792.37

778.63

826.85

1,029.9 4

1,122.5 9

14.41 2330.65

15.42 2269.85

12.94 2325.44

9.16 2347.26

8.22 2412.55

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Product & Market

Product JK Tyre manufactures tyres, tubes and flaps of various ranges. Market Their customer base covers virtually the entire original equipment manufacturers (OEMS) in India together with replacement market for four wheeler vehicles, defence and state transport undertakings. Besides India they have world wide customer base.

KEY CUSTOMERS

COMPANIES/ INSTITUTIONS BASE

BUSINESS (%)

Replacement Market (Dealers/ 3500 Spread all across the 53 Distributors) country OEMS MUL, M&M, Telco, HM, Bajaj 32 Tempo, Ashok Leyland 50 countries continents across the six 11

Export

Institutions

Defence, STU, Fleets

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Competitors Since 1991 with the opening of Indian economy, the business is facing fierce competition from MNCs.

Product Passenger Car Tyre Bus and Truck Tyre Agriculture Tyre Others (Tube & Flap)

Competitors Bridgestone MRF, Apollo MRF, Ceat MRF

Factors International Brand Image Marketing and Product mix Product Range Brand Loyalty

Various Product Range J.K. Tyre is the leader in the Truck/Bus segment. With its customer oriented state-of-the-art product offerings, it has outpaced the industry growth rate and surged ahead of its competitors. Our tyres are specifically designed in accordance to the different loading and applicati n o requirements of our valued customers. The "Unique SEV System" in its Truck/Bus and LCV range of tyres ensures a highly efficient and uniform tyre curve - the best option for a wide variation of road and load conditions under which trucks operate in our country. The SEV System offers the outstanding advantages of Super Mileage, Greater Strength and Higher Retreadability - They Run More to Earn More. International Domestic

y y

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SWOT Analysis
Strength  Over six decades of experience in tyre manufacturing  Self sufficient in tyre production  Successful & fast absorption of international technology to suit Indian condition & needs.  Well knit distribution network.  Tyre is easily available & serviced even in remotest parts of the country.

Weakness  In comparison with the global standards, smaller size of plant & hence less economic units.  Lower productivity of labor in comparison to world standards.  Out dated labor laws  Proliferation of units  High cost of raw materials. Opportunities  Robust economic growth, particularly vehicle production growth resulting in health demand growth for tyre in the feature.  Export culture inculcated enabling participation in world tyre market.  Excellent brand equity of Indian cross ply/bias truck Tyres in the world market can open market opportunities for radial tyre.  Emergence of Indian as a hub for production of small car is expected to give a thrust to auto component & tyre segment.  Improved road infrastructure especially on the golden quadrilateral & north-south, castwest national highway project will result in significant increase in movement of goods & passenger traffic through roads with resultant growth in demand for tyres.

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Threats  Faster pace of opening up of the economy will increase import of tyre.  Reduction in important duties will lead to high volume of type imports.  Multinationals with financial muscle setting do manufacturing facilities in the country.  Confessionals import tariffs for countries like china & South Korea under regional trade agreements will lead to additional imports.

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JK Industries (VTP) Board of Directors:

Chairman Vice Chairman & Managing Director

Hari Shankar Singhania Raghupathi Singhania

LIC Nominees

Arvind Morotoom Lalbhai Arvind Singh Mewar Bakul Jain B.G.Jose

IDBI Nominees

Om Prakash Khaitan Dr. Vinashil Gautam

Managing Director

Bharath Hari singhania

Deputy Managing Director

Vikrampati singhania

Whole-time Director

Swaroop chand Sethi

Auditors

Lodha & Co chartered Accountants.

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INTRODUCTION

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INTRODUCTION
This new age economy, with its attendant paradigm shifts in relation to the human capital, in terms of its acquisition, utilisation, development and retention, has placed a heavy demand on todays HR professionals. Today HR is expected to identify potential talent and also comprehend, conceptualise and implement relevant strategies to contribute effectively to achieve organisational objectives. Hence a serious concern of every HR manager in order to survive this War for Talent, is to fight against a limited and diminishing pool of qualified available candidates to replace valuable employees when they leave, dramatically underscoring the difficulty to attract, motivate and retain the best employees in an organisation. To analyse the reasons, we first need to understand what TALENT means. People have different views and definitions. According to Leigh Branham, vice president, consulting service at Right Management Consultants and author of the book, 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. As someone once said, you can teach a turkey to climb a tree, but it is easier to hire a squirrel. Vice President, HR of Seagram, Mr. Gopi Nambiar, says talent can be best described as a combination of abilities and attitudes. The real trick is to match the right motivated talents to the right role, individually and collectively, harnessing and harmonizing this crucial attribute to achieve the objectives of your company. Today, companies have become fiercely competitive when it comes to attracting and retaining talent. According to Branham, 75 per cent of the senior executives admit that employee retention is a major concern today, 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. It is an accepted truth that turnover will happen and companies need to device a strategy to curb unprecedented turnover from affecting organisational success. As the Director, HR (Asia) of Bausch & Lomb, Mr. P.G. George declares, achieving zero percent turnover is neither realistic nor desirable. People tend to seek change for a variety of reasonsmore money, better benefits, the appearance of a greener pasture- and this has been a practice from the very beginning. Then, what is it that has really changed? 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. In his study, Branham clearly states that one major reason why people leave their organisation is because of the organisations 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 .The present scenario with abundant opportunities has triggered a wave of employees, perpetually on the move, forever seeking better opportunities whenever, wherever and however they can. What is behind the restlessness of these hard to keep employees? By focusing on productivity, organisations are
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realising that it is imperative to hire employees who can do the job and be successful at it. The organisation no longer wants to just hire to hire, in fact they are striving to find the right people, bring them into the organisation and retain their services. One of the critical functions of HR is a sound Human Resource Planning through which they are able to project the demand for human resource and thereafter formulate strategies for acquiring them. As the leading HR heads of the country point out, the solution is not just about finding the correct retention mechanisms , but it starts from the very beginning by devising ways to acquire the right people for the right jobs.

Talent Management v/s Traditional HR Approach

Traditional HR systems approach people development from the perspective of developing competencies in the organization. This can actually be a risk-prone approach, especially for companies operating in fast evolving industries, since competencies become redundant with time and new competencies need to be developed. Thus, over time, the entire approach to development of people might be rendered obsolete calling for rethinking the entire development initiative. Talent management on the other hand focuses on enhancing the potential of people by developing capacities. Capacities are the basic DNAof an organization and also of individual potential. In fact, the following appropriately describes the role of talent management: Point of Departure Point of Arrival Clear understanding of the varied roles within the Aligning individual organization and values and vision with appreciationof the valueorganizational values addition from self and others and vision leading to building a culture of trust, sharing and team orientation Individual growth to meet and accept varied, Enhancing capacities to incremental and learn, think relate and act transformational roles in through development an overall scenario of Initiative acknowledged need for change Helping individuals Developed individuals realize their full enabling breakthrough potential through performance learning and development
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Navigation

Translating organizational vision into goals and mapping the required level of capacities and competencies to achieve goals

Assesment of talent to profile the level of capacities and set of competencies possessed within the organization

Gap analysis and identification of development path

The focus of talent management

At the heart of talent management is developing the following intrinsic human capacities:
1. Capacity to learn (measured as learning quotient LQ) Enhancing an individuals capacity to learn improves the persons awareness. It adds to the persons quest to know more and delve into newer areas. This capacity is developed by holistic education that teaches how to learn, an enabling environment and good mentoring. Capacity to learn comprises of the following:
y y y

Introspection is the individuals willingness to look back and learn ability to learn from mistakes and identifying areas of improvement. Reflection and contemplation is the individuals ability to observe his own thoughts, actions and emotions/feelings and using the awareness to improve further and perform better. Getting into the flow is the individuals ability to get into a new experience and flow with the experience. It is the persons child-like ability to derive joy out of learning.

2. Capacity to think (measured as conceptual quotient CQ)

y

y y y y y

An individuals quest to know more leads his mind to create images. Enhancing an individuals capacity to think helps the person not only take learning to a higher level of intellect but also improves creativity. Capacity to think comprises of the following: Analysis is about asking the right questions and breaking complex things into simpler elements. Creativity is about generating new thoughts and breaking the existing patterns of thought. Judgment requires both. This is what helps an individual take quality decisions.

3. Capacity to relate (measured as relationship quotient RQ) It is important for an individual to be able to relate to his learning and thoughts. This leads the person to be able to relate to other individuals and the environment around him. The

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outcome is indeed a sense of belongingness and an environment of trust at the organizational level and team spirit at the individual level. Capacity to relate comprises of the following: Listening is the individuals ability to listen with warmth and respect. Active listening is free of biases, evaluation and pre-conceived notions. Empathizing is the ability to put self in someone elses shoes and getting out of ones own shoes. Trust requires a combination of both empathizing and listening. It is about authenticity, openness and genuineness. 4. Capacity to act (measured as action quotient AQ) Action is how the above three capacities of an individual are manifested. It is the individuals ability to enact his intentions. Following are components of capacity to act: Organizing refers to the individuals ability to organize his time and resources so as to enable him to convert intentions into reality. Implementing means delegating, attention to detail, and focus on the right process. Perform under pressure means the ability to work under pressure and time constraints and handle multiple tasks without negative stress. The individuals values help in discriminating amongst alternatives and act as the bedrock for decisions. They act as multipliers in enhancing the individuals capacities, a sigma of which reflects the individuals true talent. Thus: (LQ + CQ + RQ + AQ) X Values = Talent Organizations provide individuals the opportunity and space for physically manifesting their talent into performance for achieving individual and organizational vision. Talent manifests into performance as follows : Talent + Vision/Mission/Strategy + Skills & Competencies + Role & structure +

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Opportunity + Encouragement & Recognition + Training & Development + Coaching + Action Plan & Goals + Resources

Performance Management System Performance Thus the domain of talent management focuses not only on development of individual s intrinsic capacities, but also on culture building and change management to provide the other elements listed above for manifestation of talent into performance. The service and consulting areas of talent management that thus emerge are: Talent appreciation Potential enhancement Acquisition of talent Knowledge management Grow Talent offers services in all the above areas. Grow Talent s offerings are based on the models discussed above and follow a unique methodology. Talent appreciation (TAPTM) TAPTMservices from Grow Talent are focused on assessing the way individuals learn, think, relate to others, and act. Tap is used to evaluate the capacities, competencies and values of individuals for assessment of potential for career development and succession planning.

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This is intricately linked to helping organizations map their capacity and competency requirements and then assessing talent to draw up individual development plans. The talent profiling thus done for organizations helps them identify critical competencies to be developed and capacities to be enhanced in order to meet future business requirements and achieve plans. Potential enhancement (PEPTM) The focus of PEPTMis to create learning experiences and solutions for individuals that will help convert their talent into competence. It also involves designing learning events and processes that enhance the potential of individuals. Two intrinsic components of Grow Talent PEPTM are: Capacity building modules - which focus on enhancing the four capacities of individuals Competence building modules which focus on specific areas like consulting skills, problem solving, service quality, strategic selling, process designing, interviewing skills, etc. Acquisition of talent (ACTTM) Grow Talents approach to helping organizations acquire talent is based on the following: Helping organizations define roles for specific leadership positions based on 'preferred futures' and strategy Identifying the competencies required for each of these jobs

Determining the levels of fundamental capacities of learning, thinking, relating and acting needed to acquire these competencies Defining the values which are needed to display the desired behaviors Identifying individuals who would fit into these positions Enable organizations and individuals to establish mutually acceptable contracts for employment and lay the foundation of win-win relationships

Knowledge Management
As said earlier, the domain of talent management includes culture-building and change management. Knowledge management services from Grow Talent are aimed at leveraging knowledge for performance by creating an environment for sharing by building trust. The focus of knowledge management is to connect people and technology to capture and harness the tacit knowledge of the organization. By making trust the bandwidth of communication, knowledge management enhances sharing and thereby creates an appropriate environment for talent to translate into performance.

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With its comprehensive spectrum of services for talent management and unique methodology, Grow Talent is strongly positioned to help organizations gain a competitive and sustained talent advantage.

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LITRATURE REVIEW

32

LITERATURE REVIEW
A detailed survey of the concerned literature has been carried out based on various journals, reviews concerned magazines and internet and presented below: Any Organization needs to have a vision and a well defined strategy on hiring for the future. We should have the right talent to attract and retain the best available talent for which a number of measures for talent management are required. [KARTHIKEYAN,2007]. Emphasis has been paid on initiatives that can be put in place to help organization to retain and nurture the talent [PANDIT, 2007]. The fundamental aspects about the definitions of human recourses have been discussed and planning of new models has been discussed. The need to disband the conventional school of thoughts about organizational behavior has been advocated and a new approach has been suggested for HR [ANANDARAM, 2007.] The Strategic Development of Talent by William J. Rothwell "Rothwell ignites the imagination, expands the possibilities, and offers practical strategies any organisation can use to effectively develop, retain and utilise talent for the benefit of an organisation and enter the fluid, flexible future. Managers at all levels will cheer the sanity Rothwell suggests." The Talent Management Handbook: Creating Organizational Excellence by Identifying, Developing, and Promoting Your Best People by Lance A. Berger "This is an outstanding reference work that succinctly explains a simple and practical approach to the identification, assessment and management of talent in the current, dynamic operating business environment. The book plainly gives advice on how to avoid high staff turnover, poor morale, and poor performance." NEWSLETTER Sriiddar S Preetham (July 2007), Managing talent, HRD Newsletter, vol23 issue -4 Focusing on the challenge of attracting and retaining talent faced by Indian HR mangers, the article outlines initiative that can be put in place to help organization retain nurture and retain the talent

33

PROBLEM IDENTIFICATION
IT TAKES Talent to spot Talent! A tone deaf will never be able to appreciate the music of maestros. Only a seasoned jeweler would know that all that glitters is not real! And, only those who can recognize the worth of a diamond can value it, for others it's just a stone! Talent is doing easily what others find difficult. In an organization, there is nothing more crucial than fitting the right employee in the right position. Or else you would be trying to fit a square peg in a round hole. When people do jobs that just don't suit their liking, inclination or temperament, the results, or rather the lack of them will be disastrously obvious. Low productivity, dissatisfaction, low morale, absenteeism and other negative behavior will become typical till the employee is shown the door. Or perhaps, there is another option - Talent Management A conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organi ational need Organization need to have a vision and a well defined strategy on hiring for the future. India has become the outsourcing capital of the world and this has created its own set of HR challenges Indias biggest problem is that qualified graduates are becoming scarce. Despite the large population, the supply of engineers cannot keep up with the sharply increased demand. So, do we have the right talent within to attract and retain the best available talent

34

RESEARCH METHODOLOGY

35

RESEARCH METHODOLOGY

OBJECTIVES
y y y

To identify various upcoming challenges of talent management To establish upcoming trends in talent management. To identify the ways to retain the best talent.

NEED OF THE STUDY

The supply side discussed puts pressure on companies to attract the best talent and ensure that employees join the company and choose to stay in the organization rather than look for opportunities elsewhere. Present study is supposed to find out the existing Indian talent scenario so as to analyze its emerging challenges and trends.

PRIMARY DATA
For the purpose of collection of primary data two web administered questionnaire were prepared. One questionnaire was made for HR professionals or the people involve with the talent management in the organization and other one was for the employees of the organizations.

QUESTIONNAIRE HR Professional
The researcher focused on a comprehensive set of workplace practices that influence employee motivation, commitment and willingness and desire to achieve at work. The researcher identified these practices and a deep understanding of typical organizational programs to ensure that the questionnaire covered the broadest spectrum of tangible and intangible aspects of the work environment. As a result, the questionnaire included items about the full range of rewards practices, leadership and management effectiveness, communication, culture and attributes related to these tangible and intangible aspects. Respondents came from a range of industries, including telecommunications and technology, financial services, education, health care, energy, retail, transportation, consumer products and manufacturing. Sample Size: 25

36

QUESTIONNAIRE EMPLOYEES
The prime focus of this questionnaire was to compare with the responses obtained by above questionnaire. The talent management initiative is taken by the HR professionals but the implication of this initiative is on the employees. By this questionnaire, the researcher tried to find out the effectiveness of such talent management initiative as well as the satisfaction level of the employees. Sample Size: 30

SECONDARY DATA
 Journals and Research Paper  Newsletters  HR websites

STATISTICAL TOOL:
 Bar graphs  Averages

SAMPLING TECHNIQUES Judgmental Sampling

37

ANALYSIS AND INTERPRETATION

38

ANALYSIS
Finance Deptt Marketing Deptt Production Deptt Quality Assured Deptt H.R. Deptt RP TS FE 6.2 6 7 6 5 6.2 7 5.3 5.6 5 6 4 7.4 6.4 7.2

7
6

5
4 RP

3
2

TS


1 0
De De
       

c e De

Q y Ass e De


As I have prepared my questionnaire on the basis of three parameter namely a) Relation with people b) Thinking style c) Feeling and Emotion And on the basis of that I have taken a survey on employees of different department namely a) b) c) d) e) Finance department Marketing department Production department Quality assured department Human Resources department

39

Dptt

INTERPRETATION
Now I have plot the graph on the basis of means of parameter score for each Department as it can be seen in the above table. Any score above 3 can be considered Good while a score below 3 can be considered Poor. I found that the employees talent managed well in all departments in JK TYRE.

40

CONCLUTION

41

CONCLUTION
As organizations continue to pursue high performance and improved results through TM practices, they are taking a holistic approach to talent managementfrom attracting and selecting wisely, to retaining and developing leaders, to placing employees in positions of greatest impact. The mandate is clear: for organizations to succeed in todays rapidly changing and increasingly competitive marketplace, intense focus must be applied to aligning human capital with corporate strategy and objectives. It starts with recruiting and retaining talented people and continues by sustaining the knowledge and competencies across the entire workforce. With rapidly changing skill sets and job requirements, this becomes an increasingly difficult challenge for organizations. Meeting this organizational supply and demand requires the right Talent DNA and supporting technology solutions. By implementing an effective talent management strategy, including integrated data, processes, and analytics, organizations can help ensure that the right people are in the right place at the right time, as well as organizational readiness for the future.

42

SUGGESTION

43

SUGGESTION

Organizations must have meaningful descriptions of the capabilities (skills, behaviours, abilities and knowledge) required throughout the organization. Organizations must be able to relate those skills and capabilities to a centre of demand, such as a job position, project or leadership role. role or a

Talent management processes must create a comprehensive profile of their talent. They must be able to track meaningful talent related information about all of their people - employees, contractors, or candidates. The working culture of the organization should be improved and maintained to retain talent in long run. More certified training should be given to the employee to boost their effectiveness and efficiency. It should be used as a tool of motivation. The organization should identify the crucial talent initiative to attractant retain the employee. They should kno w which talent management elements can have the greatest impact on the business and therefore provide a better basis for prioritization and implementation. To create a sophisticated talent management environment, organizations must: Define a clear vision for talent management Develop a roadmap for technology and process integration Integrate and optimize processes Apply robust technology to enable processes Prepare the workforce for changes associated with the new environment

44

Appendix -1

45

Bibliography
Books
1. Talent Management: Overview: Talent Management Series Part I," Nancy R. Lockwood, SPHR, GPHR, Society for Human Resource Management, July 2005. 2. Talent Management: Employee Engagement: Talent Management Series Part III," Nancy R. Lockwood, SPHR, GPHR, Society for Human Resource Management, July 2005. 3. Talent Management: Leadership Development: Talent Management Series Part II," Nancy R. Lockwood, SPHR, GPHR, Society for Human Resource Management, July 2005.

4. "Strategies for Recruiting Workers Over Age 50," Society for Human Resource
Management, Cathy Fyock, December 2005. Taking Action against the Quiet Crisis in Recruitment and Retention," AFT. Public Employees, AFL-CIO. 2005

Search Engine
y Google Websites
y y y y y y y y y y y

http://books.google.co.in/books?id=SBNbFCBtcFsC&pg=PA168&dq=Talent management=#PPA167,M1 http://books.google.co.in/books?id=J2eRTQXWQlQC&pg=PA1&dq=talent management=#PPA13,M1 http://books.google.co.in/books?id=6OCD-tSU1nwC&pg=PA1&dq=talent management=#PPA11,M1 http://books.google.co.in/books?id=keiVwGxm3i0C&pg=PA363&dq=talent management=#PPA371,M1 http://books.google.co.in/books?id=qUbqdAIOA9YC&printsec=frontcover&dq=talen t management #ppr9,m1 http://www.google.co.in/search?q=talent management+filetype:pdf&hl=en&lr=&start=10&sa=N http://www.answers.com/topic/employee-Talent management-systems http://www.google.co.in/search?q=talent management filetype:pdf&hl=en&lr=&start=20&sa=N http://wilderdom.com/OEcourses/PROFLIT/Class6Qualitative1.htm http://www.socialresearchmethods.net/kb/qualmeth.php http://en.wikipedia.org/wiki/Quantitative_research

46

APPENDIX-II

47

RP

RP1

RP2

RP3

OPQ32 Normative Indian Managerial & Professional Norm Group Profile [a] RELATIONSHIP WITH PEOPLE Persuasive Rarely pressures others Enjoys selling, to change their views comfortable using 1 2 3 4 5 6 7 8 9 10 ,dislikes ,selling, less negotiation, likes to comfortable using change other peoples negotiation views Controlling Happy to let others take Likes to be in charge, charge, dislikes telling takes the lead, tells 1 2 3 4 5 6 7 8 9 10 people what to do, others what to do, unlikely to want to take takes control of the lead situations Outspoken Holds back form Freely expresses 1 2 3 4 5 6 7 8 9 10 criticising others may opinions, makes not express own views, disagreement clear, unprepared to put prepared to criticise forward own opinions others Accepts majority decisions, prepared to follow the consensus Quiet and reserved in groups, dislikes being the centre of attention Comfortable spending time away from people, values time spent alone, seldom misses the company of others Makes strengths and achievements known, talks about own personal success Makes strengths and achievements known, talks about own personal success Prepared to make decisions without consultation, prefers to make decisions alone 1 2 3 4 Independent minded 5 6 7 8 9 10 Prefers to follow own approach, prepared to disregard majority decisions Lively and animated in groups, talkative, enjoys being the focus of others attention Enjoys others company , likes to be around people, likely to miss the company of others Feels comfortable when meeting people for the first time, at ease in formal social situations Dislike discussing own achievements, keeps quiet about own personal success Consults widely if possible, involves others in decision making, less likely to make decisions in isolation Sympathetic and considerable towards others, helpful and supportive, gets involved in others problems

RP4

RP5

Outgoing 6 7

10

Affiliative 5 6 7

10

RP6

Socially confident 5 6 7 8

10

RP7

RP8

Modest 5 6

10

Democratic 1 2 3 4 5 6 7 8 9 10 RP9

RP10

Selective with sympathy and support, remains detached from others personal problems

Caring 5 6

10

48

OPQ32 Normative Indian Managerial & Professional Norm Group Profile TS Prefers dealing with opinions and feelings rather than facts and figures, unlikely to advocate use of statistics 1 2 3 4 [b] THINKING STYLES Data Rational 5 6 7 8 9 10 TS1 Influenced by facts and figures and hard data, tends to disregard feelings and intuition

TS2

Does not focus on potential limitations dislikes critically analysing information, rarely looks for errors or mistakes

Evaluative 6 7

10

Critically evaluates information, looks for potential limitations and flaws, focuses upon errors

TS3

Does not question the reasons for peoples behaviour, tends, not to analyse people

Behavioural 6 7

10

Tries to understand others motives and behaviour, enjoys observing and analysing people

TS4

Favours changes to work methods, prefers new approaches and solutions, less conventional Prefers to deal with practical rather than theoretical issues, dislikes dealing with abstract concept

Conventional 6 7

10

Prefers well established methods and solutions, favours a more conventional approach Thinks of issues in terms of theories, models and trends, enjoys discussing abstract concepts Generates many new ideas, enjoys the creative process, comes up with original solutions

TS5

Conceptual 6 7 Innovative 6 7

10

TS6

More likely to build on than generate ideas, less inclined to be creative and inventive

10

TS7

Prefers routine, is prepared to do repetitive work, does not seek variety Behaves consistently across situations, unlikely to behave differently with different people More likely to focus upon immediate than long-term issues, less likely to create a strategic perspective

Variety Seeking 5 6 7

10

Seeks novelty and variety, tries out new things, can be easily bored by routine and repetitive work Changes behaviour to suit the situation, adapts approach to suit different people Takes a long term view, sets goals for the future, more likely to take a strategic perspective

Adapted 1 2 3 4 5 6 7 8 9 10

TS8

TS9

Forward Thinking 1 2 3 4 5 6 7 8 9 10

TS10

Unlikely to become preoccupied with detail, less organised and systematic, dislikes tasks involving detail Sees deadline as flexible, prepared to leave some tasks unfinished

Detail Conscious 5 6 7

10

Focuses on detail, tends to be methodical, organised and systematic, may become preoccupied with detail Focuses on getting things done, persists until the job is done, takes deadlines very seriously Follows rules and regulations, prefers to have clear guidelines, reluctant to deviate from protocol

TS11

10

TS12

Not restricted by rules and procedures prepared to break rules, tends to dislike bureaucracy

10

49

OPQ32 Normative Indian Managerial & Professional Norm Group Profile [c] FEELINGS AND EMOTIONS FE1 Tends to feel tense, finds it difficult to relax, can find it hard to unwind after work

Relaxed
1 2 3 4 5 6 7 8 9 10

Finds it easy to relax and switch off, rarely feels tense, generally calm and untroubled

FE2

Feels calm before important occasions, less affected by key events, free from worry

Worrying
1 2 3 4 5 6 7 8 9 10

Feels nervous before important, occasions, worries that things will fail or go wrong

FE3

Sensitive, easily hurt by criticism, upset by unfair comments or insults

Tough Minded
1 2 3 4 5 6 7 8 9 10

Not easily offended, can ignore insults, may be insensitive to personal criticism

FE4

Concerned about the future, expects things to go wrong, focuses on negative aspects of a situation Wary of others intentions, finds it difficult to trust others, unlikely to be fooled by people Openly expresses feelings, finds it difficult to conceal feelings, displays emotions clearly

Optimistic
1 2 3 4 5 6 7 8 9 10

Expects things to turn out well, focuses on the positive aspects of a situation, optimistic in outlook Trusts people, sees others as reliable and honest, believes what others say Conceals feelings from others, rarely displays emotion, difficult for others to read

FE5

Trusting
1 2 3 4 5 6 7 8 9 10

FE6

Emotionally Controlled
1 2 3 4 5 6 7 8 9 10

FE7

Likes to take things at a steady pace, dislikes excessive work demands

Vigorous
1 2 3 4 5 6 7 8 9 10

Thrives on activity, likes to be busy, enjoys having a lot to do

FE8

Dislikes competing with others, feels that taking part is more important that winning

Competitive
1 2 3 4 5 6 7 8 9 10

Has a need to win, evaluates own performance in terms of being better than others, dislikes losing Ambitious and career centred, sets and strives towards demanding goals and targets for self 10

FE9

Sees career progression as less important, looks for achievable rather than higher ambitious targets 1 2 3

Achieving

FE10

Tends to be cautious when making decisions, likes to take time to reach conclusions

Decisive
1 2 3 4 5 6 7 8 9 10

Makes fast decisions, reaches conclusions quickly, less cautious in decision making Has been less self -critical in responses, may be unrealistic or concerned to make a good impression

SDE

Has been more self -critical in responses, is less concerned to make good impression

50

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