Talent Management

SINGING

MUSIC

ACTING
DANCING

DRAWING

SPORTS

Talent in general terms refers to the Capabilities Skills Art a person possess in a particular field.

Soft talent 2. Hard talent. Soft talent is in-born type and hard talent which is self-made type
1.

Talent Management 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. Nothing is as important as identifying, training, and holding onto talented people Jack Welch

IMPORTANCE OF TALENT MANAGEMENT

Recruitment Retention Employee development Leadership and "high potential employee" development Performance management Workforce planning Culture development

Acquiring talent

Assessing new and current talent

Developing talent

Transitioning Talent

OBJECTIVES
To understand the process of talent pool creation and its acquisition. To develop present working employees for their personal growth in alignment with the organizations growth. To retain the most potential employees of the organization. To identify various upcoming challenges of talent management To establish upcoming trends in talent management.

NEED OF THE STUDY The study is mainly carried out to find what initiative organization take under the head of Talent management and specially what role HR professional do in acquiring, developing and retaining talent.

SCOPE OF THE STUDY

Human Resource is considered to be a very Dynamic

asset. Organization gains competitive advantage. People and talent have emerged as most critical and strategic variables in organizational effectiveness. Talent Management therefore has become a focal strategic variable in the contemporary businesses environment.

HEALTH SECTOR

TALENT CRUNCH
RESEARCH

ENGINEERING

Engineering Sector was chosen for the study

India faces a shortage of 60,000 engineers by 2010

and 2.45 million by 2020 according to R. Venkatesan and Wilima Wadhwa of Indias National Council for Applied Economic Research in New Delhi. National University of Singapore stated that there is just 55.2% of the science and technology professionals and we would require 40,000 foreigners to fill the gap.

RESEARCH METHODOLOGY
Data Collection
Population :-

200(approx) HR executive of engineering sector. Sample Size:30 HR executives.

Sample Technique:-

Justified random Sampling

DATA ANALYSIS
Q1. What do you understand by word Talent?
Sr.No. Choices Percentage

Skill

36 Potential 26% Skill 36%

Knowledge

24

Qualification

14

Qualifica tion 14%

Potential

26

Knowled ge 24%

Q2. Does your vision of organization align with the vision of recruiter?
Sr. No. Choices Percentage

Yes

No

Dont Know

7% 3%
A Yes 90

No

Dont Know

90%

Q3. Do you have different sets of recruiters at various stages of recruitment process?
Yes No Sometime

Sr.No.

Choices

Percentage
2%

Yes

56 42%

No

56% 42

Dont Know

Q4. On which criteria you select employee?

Sr.No. Choices
A Knowledge Based

Percent age
15
Not aware 0% Knowledge 15% Qualifation 10%

Qualification

10
All of the above 39%

Experienced Based

13
Experience 13%

Talent Based

23

Talent 23%

All of the above

39

Not aware

Q5. How does your organization carry out Talent Management?

Sr.No Choices .
A Never

Percentag e
7

Always 7%
Often 20%

Never 7%

Rarely

23

Rarely 23%

Sometime

43 Sometime 43%

Often

20

Always

Not aware

TALENT ACQUISTION Q6. While selecting a person for your organization on which aspects the recruiting panel emphases more?
Sr.No. Choices Rank Freque ncy
70

Technical fit

Personality/Behavioral fit

90

Leadership fit

123

180 160 140 120 100 80 60 40 20 0

153 123 90 70 78

116

Skill fit

78

Organization fit

116

Background /Previous employment

153

Series1

Q7. From where your recruiter create Talent Pool?

Sr.No Choices .
1 Employee Referrals

Rank Frequ ency

2 86

Posting on Bulletin Board

120

Campus recruitment

112

120 100 80 60 40 20 0

120 112 86 72

120 113

Online database(Job Portal) External resume database

72

120

Recruitment Agencies or consultancy

113

Series1

Q8. Rate the following areas in order of their difficulty

Sr. Choices No.
Most Difficult

Percentage
Diffic ult Moder ate Eas y Easi est

1.

Candidate sourcing

3.33

10

3.3 3 16. 66 40

6.6 7 6.6 6 36. 6 43. 3 6.6 0

2.

Candidate Qualification & Screening Requisition Approval & Initiation Interview set-up & Execution Offer/ Pre-Employment Process

6.67

13.3 3 43.3

33.33

3.

43.3

26.6

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Easiest
Easy Moderate Difficult Most Difficult

4.

26.6

33.3

30

20

5.

20

10

20

Q9.Rate the challenges faced during the sourcing decision

Sr. Choices No .
1. Lack of Available skill set.

Ran Percenta k ges

1 55

Sourcing Challenges
Series1 118 127

2.

Job Location/Job profile

78

78 55

72

3.

Competitive Salary/Benefit

72

4.

Lack of Direct Labor pool.

118

5.

Company or Industry reputation

127

Q. 10.1. In your organization who is primarily responsible for Recruiting Individuals

Sr. Choices No .
1. No one

Percentages

Recruiting individuals
Noone 0 Immediate Supervisior Outside consultant Department Head HR Head Other

2.

Department Head

26

0% 5% 26%

3.

Immediate supervisor

4.

HR staff

60
60%

9%

5.

Outside Consultant

6.

Any Other

Q. 10. 2. In your organization who is primarily responsible for Further developing employees?
Sr.N Choices o.
1. No one

Percentages
0

Developing Employees
Noone Immediate Supervisior Outside consultant Department Head HR Head Other

2.

Department Head

11

3.

Immediate supervisor

41

14%

11%

4.

HR staff

34

34%

41%

5.

Outside Consultant

14

6.

Any Other

Q. 10.3. In your organization who is primarily responsible for retaining employees?

Sr.No . 1. No one Choices Percentages Noone 0 Immediate Supervisior Outside consultant 2. Department Head 41

Retaining Employees
Department Head HR Head Other

3.

Immediate supervisor

16

43%
4. HR staff 43

41%

5.

Outside Consultant

16%

6.

Any Other

TALENT DEVELOPMENT
Q11. Within your organization what kind of activities are carried out for employees development?
Sr.N Choices o.
1. Classroom workshops/conference/seminar Coaching/Mentoring

Percentages
23

Talent Development
Classroom workshop Job Rotation Action Learning Coaching/Mentoring Job Enlargement others

2.

21

3.

Job Rotation

16

15%

23%

4.

Job Enlargement

25

25% 21%

5.

Action Learning

15

16%

6.

Any Other

TALENT RETENTION
Q12. What retention strategies does your organization follow?
Sr.N o. Choices Percentages

Talent Retention
Exit Interview Exit Interview 34 Improving QWL/Package Improving Employess Relationship Career Development

1.

2.

Improving QWL / Package/ Benefit

23 14% 34%

3.

Improving employees Relationship

29

29% 23%

4.

Career Development

14

Q13. How do you expect your budget for recruiting developing and retaining employees to change over three years?
Sr.N Choices o. Percentages

Future Budget of Talent Management

Increase Decrease No Change

1.

Increase

77
17%

6%

2.

Decrease

17

3.

No change

77%

CONCLUSION
Whatever efforts which are taken are passive and not

active. Companies are now going for smarter recruitment process they are now emphasizing more on soft talent of people (Inborn talent) and after taking it they are further developing hard talent (creating talent). While recruiting more emphasis is given on persons skill and potential than past experience and qualification.

CONCLUSION
To reduce the process time of recruitment and to make it

more cheap and faster now most of the HR professionals are using online database (Portal) to find employees.

For retaining employees organization are now much

more serious and they are trying to find out problems behind it and if possible they try to retain talented employees in the organization by improving QWL and culture. Organization are now giving career development opportunities to talent employees.

SUGGESTION
Top management Can Confront the Talent Crunch
Role of Corporate and Education Institution in

Talent Management Role of HR in Talent Management

Other suggestions for tackling the talent crunch include the following:
Assess the competencies
Put talent management strategy on the agenda: Retain the talent of your organization

Make different strategies to attract talent from

environment Carry out different methods for the development of existing talent

Recognize talent

Change Organization Culture

Attracting Talent

WAYS TO MANAGE TALENT

Managing Succession Retaining Talent Selecting Talent

SUGGESTION
Finally it can be suggested that in organization, capital

can be created; new ideas if generated can be copied easily by others competitors. But people are the asset of organization, they are the core competency of organization which cant be mutated or generated, so in long run if you dont have finance or new innovative ideas but if you have talented people you can reach the sky.

LIMITATION
Only one sector engineering was taken from the entire sector and I was able to take only 30 respondent of different organization after visiting more than 45 companies. Area is too big so it is not possible to cover all companies of Gujarat. The survey was carried out in industrial areas of Baroda only. The project topic is a very huge issue and needs a lot of devotion to it but time spam available was not sufficient. HR department employees are not openly cooperated in some areas of their policy. Some of the respondents in spite of the request made were not ready to fill the questionnaire due to lack of time or showing disinterest The survey was done doing mid part of the day and many of the respondents

were either busy with their work or somewhat uninterested to respond so at many places response was negative. I have no previous experience in research, despite of that I have done at best of my knowledge and ability. It should be noted that in consideration with the above limitation the conclusions and suggestions have been drawn.