TERESIAN COLLEGE

POST GRADUATE CENTER

DEPARTMENT OF STUDIES IN COMMERCE
PAPER PRESENTATION COMPETITION ON MANAGEMENT

TALENT MANAGEMENT
Presented by: Mohammad Ali Eskandary Final year MBA (HR) Mahajana PG Center Mysore

Introduction
It is not much far from now that the name of HR department gets replaced with the department of Talent Management. In present time the most important asset of an organization is people and not any more money and machinery. The reason behind this is that all other assets are not in a situation of scarcity but people. It is only people who owe the talent and talent is the only part of an organization that can affect the most to lead it to success as well as failure.

Talent
Talent is defined by so many scholars in some different ways. The main point that we can find out in all of these definitions is that talent is a set of aptitude to be useful for some particular activities or even we can refer it to the aptitudes themselves. In some other words we can say that talent is such an element that can bring change in the organization either by its immediate action or by a longer period of time. Researches show that outstanding performers performance is six time of average performers.

Talent Management
Talent management is the systematic process of identification, attraction, development, engagement/ retention and deployment of those individuals who are of particular value to an organisation, either in view of their high potential for the future or because they are fulfilling business/operation-critical roles. In a simple way of statement we can narrate that management of the talent existing in the organization and attracting the new talent from outside of the organization is called talent management.

Competencies and Talent Management

This term "talent management" is usually associated with competency-based management. Talent management decisions are often driven by a set of organizational core competencies as well as positionspecific competencies. The competency set may include knowledge, skills, experience, and personal traits (demonstrated through defined behaviors).

Current 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. Selection offers are large return on investments. Job analysis and assessment validation help enhance the predictive power of selection tools.

Components of Talent Management

Develop a plan that includes at least three growth modes Calculate your likely range of growth and shrinkage Develop the capability of shifting rapidly Develop a plan for changing direction Prioritize your services and business units Plan for a well-managed contingent labor component Learning/sharing plan Measure and improve decision making speed Plan for slack periods Plan for overflow capability Develop a backfill plan Develop effective agility metrics Use if-then scenarios Put agility in the hiring/promotion/leadership criteria

Process of Talent Management

Define Talent Identify Talent Attract and Retain Manage Nurture & Develop Evaluation

Talent Management

Advantages of Talent Management

Right

Person in the right Job Retain the top talent Better Hiring Understanding Employees Better Better professional development decisions Productivity and Capability Reduced turnover of employees Commitment from valued employees

Conclusion
There are two critical points about all resources in economy and these two points indicate the importance of such resource. Firstly being limited and constraint and secondly difficult to be recognized. Same characteristics are for human resource and this reason made it more important. Secondly we have components such as average, good and outstanding in all types of resources. In human resource also we have talent as outstanding component of this resource so thats why it must be defined well and identify to be managed well.

So Lets Begin

Thank you