Asian Business Review, Volume 3, Number 3/2013 (Issue 5)
ISSN 2304-2613 (Print); ISSN 2305-8730 (Online)
0
Talent Management: Three new Perceptions intended for
managing and retaining Talent in Bangladesh
Md. Abul Mohaimen
Senior Lecturer, Faculty of Business, ASA University Bangladesh, Bangladesh
ABSTRACT
This study aims at investigating the methods, importance, process, and present situation of managing talented
employees in Corporations. The study revealed that having talented employees helps organizations to drive and be
competitive but it is difficult to acquire such people. Thus, some innovative campaigns, for instance, global trainee and
management cycle star programs have been created to motivate talented graduates to join the companies and to
motivate existing talented employees to being more dedicated and engaged. In the recruitment of new employees,
personality and interpersonal skills were more important than educational background because candidates were deemed
to be proficient in specific areas, so, what a candidate must have is a personality matching the company’s culture
especially the characteristic of working as a good team member. In this study, we suggested some important steps and
methods that can be applied in the organizations which are totally running and managing by the HR Department.
Moreover, these methods and steps can become successful by managing low rate of star turnover which is quite
sensitive case now a day.
Key words: Talent, Motivation, HR
JEL Classification Code: J24
1 INTRODUCTION
T
he challenges facing profit and non-profit
organizations are enormous. One of the most
critical challenges for any organization is finding,
recruiting, and retaining talented individuals. In
the next decade, a diminishing pool of qualified
candidates for key positions will make talent
management even more essential to business success.
Companies worldwide are having trouble filling
positions. Forty percent of the employers surveyed
reported problems in filling positions because of a lack of
talent in their labor markets. Effective talent
management becomes even more important with the
forthcoming talent shortage as many experienced leaders
approach retirement. In Bangladesh, fewer and fewer
managers and professionals are ready to fill these
leadership roles, and companies worldwide find
themselves competing for a smaller pool of talent.
Businesses must have the ability to identify the most
talented individuals, provide them with the necessary
training and experiences, and retain valuable employees
long term economic benefits of talent management are
demonstrated both at individual and corporate levels. At
the corporate level, companies doing the best job of
managing their talent also deliver better results for
shareholders. An often-cited study shows that a standard
deviation
increase
in
high-performance
talent
management practices is associated with enormous
economic return. However, managing talent cannot be
Copyright © 2012, Asian Business Consortium | ABR
completed within quarter or a year because it involves
integrated planning and is not merely the responsibility
of the human resources department but other factors are
included in managing talent. Even though talent
management is difficult and time consuming, it is very
rewarding. Therefore, in our sense, the suggested
methods and approaches of talent management would
be advantageous to all organizations and practitioners
who want to become a leader in this competitive arena.
2. OBJECTIVES OF THE STUDY
To signify three diversified new ideas for managing
talents in Bangladesh.
To familiarize with the talent management methods
as a functional toolkit.
3. LITERATURE REVIEW
3.1 Talent management:
The term talent management is being used to describe
sound and integrated human resources practices with
the objectives of attracting and retaining the right
individuals, for the right positions, at the right time.
Organizations are run by people, and the talent of these
people will determine the organizations’ success, So,
talent management is management’s main priority.
Today's businesses face increased global competition,
shifting markets, and unforeseen events. No oneder they
are finding it more difficult than ever to attract, develop,
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and retain the skilled workers they need Global talent
management is also an organizational development
solution that supports the HSBC vision to be the world's
leading financial services company. To help accomplish
this, HSBC implemented a global talent management
process as one stream of a people strategy aimed at
attracting, motivating, and retaining the very best. At
HSBC global business strategy needed aligned people
and talent management strategies. The first step was to
identify the Senior Business Manager Talent pool,
including both general managers and world-class
specialists. The next steps were to expand the talent pool
beyond a senior business manager level, implement
development programs for future leaders according to
levels of experience and seniority in an organization, and
ensure the company had a customized solution to retain
our talent through the employee value proposition
(Gakovic & Yardley, 2007).
Despite the great sums of money companies dedicate to
talent management systems, many still struggle to fill
key positions-limiting their potential for growth in the
process. Virtually all human resource executives in a
2009 survey of 40 companies around the world said that
their pipeline of high-potential employees was
insufficient to fill strategic management roles. The
survey revealed two primary reasons for this. First, the
formal procedures for identifying and developing nextgeneration leaders have fallen out of sync with what
companies need to grow or expand into new markets. To
save money, for example, some firms have eliminated
positions that would expose high-potential employees to
a broad range of problems, thus sacrificing future
development opportunities that would far outweigh any
initial savings from the job cuts. Second, HR executives
often have trouble keeping top leaders' attention on
talent issues, despite those leaders' vigorous assertions
that obtaining and keeping the best people is a major
priority (Crane, 2001). A survey shows that executives do
not know some of the most basic and most important
facts about their companies' talent. Companies regularly
mismanage talent development tasks. An employee
value proposition can help management attract and
retain the talent they need (Cliffe, 1998).
3.2 Managing talent
Increasingly, companies view the ability to manage
talent effectively as a strategic priority. Yet, research
finds that senior executives largely blame themselves
and their business line managers for failing to give the
issue enough time and attention. Moreover, executives
who think that their companies' succession planning
efforts are deficient don't, on balance, see talentmanagement processes and systems as a chief problem.
Results of research suggest that obstacles preventing
talent-management programs from delivering business
value are all too human. Nearly half of the executives
interviewed expressed concern that the senior leadership
Copyright © 2012, Asian Business Consortium | ABR
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of their organizations doesn’t align talent management
strategies with business strategies.
However, (Heinen,2004) pointed out that talentmanagement processes include workforce planning,
talent gap analysis, recruiting, staffing, education and
development, retention, talent reviews, succession
planning, and evaluation. To drive performance, deal
with an increasingly rapid pace of change, and create
sustainable success, a company must integrate and align
these processes with its business strategies. By assessing
available talent and placing the right people in their best
roles, organizations can survive and thrive in today's
increasingly competitive markets. Effective talent
management becomes even more important with the
forthcoming talent shortage as many experienced leaders
approach retirement. Internationally, fewer managers
and professionals are ready to fill these leadership roles,
and companies worldwide find themselves competing
for a smaller pool of talent. Businesses must have the
ability to identify the most talented individuals, provide
them with the necessary training and experiences, and
retain valuable employee’s long term (William,2000). To
become successful, talent management require full
participation of the organization’s leaders. HR can’t do
the job alone. In short, more effective talent management
is not about better HR processes; it’s about a different
mindset.
Today's top companies, however, know that a single
department's potential effectiveness is limited; the key to
a successful program lies with the cooperation of all
departments, with all managers across the breadth of
their operations. Every manager, no matter what level,
plays a role in strengthening an organization's overall
talent. For example, line managers who are accountable
for getting work done are also accountable for
developing the people they manage and are fundamental
to making overall talent management work.
3.3 Recruiting talent
Identifying and attracting qualified candidates helps
companies select people who not only possess the skills
that are needed but also demonstrate the attitude,
personality
traits,
and
behavior
that
ensure
organizational fit and promote commitment. After
determining needs of an organization, high-performance
companies develop a profile of the ideal candidate,
aimed at hiring only the top 10 to 15 percent of the
available talent (Hale, 1998). When a selection process
begins, success factors identified for a job can provide a
basis for an interviewing strategy that will assess the
candidate's organizational fit. One of the strategies that
can be used to determine a level of success is to
incorporate behavioral-based questions that are designed
to elicit examples from candidates about their work
history and how they behaved in previous job situations.
Another significan’t strategy of ensuring the best fit is
through competency-based management which can be
described as the organization understanding its needs
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and who best fits with the organizations and then aiming
to deliver the right outcomes by determining the valued
behaviors. As a selection tool, this strategy helps with
recruitment of employees who possess the requisite skills
and behaviors to identify the long-term high potential
employees (Hale, 1998).
3.4 Motivating talent
Motivation can be regarded as the necessary drive or
energy towards achievement of some goals (Analoui,
1999). Motivation can also be compared to an engine and
steering wheel of a car because at the center of the
concept of motivation are the energy, the direction, the
drive or the factors influencing a person's behavior.
Initiatives to improve job performance by increasing
employee motivation may fail if there is a weak link
between performance and employee efforts. Two types
of motivation are commonly identified: intrinsic and
extrinsic motivation. Intrinsic motivation is an internal
driver, and extrinsic motivation is an environmental
incentive, reward and challenges. Intrinsic motivation
means a person engaged in some activity for its own
sake because it is satisfying and no reward is expected.
When someone has high intrinsic motivation, this
person's feelings are closely related to how well he or she
performs. To motivate, the talent the intrinsic motivation
such as career planning and development is one of the
effective factors.
From an HR perspective, career planning and
development focused on ensuring an alignment of
individual career planning and organization career
management processes to achieve an optimal match of
individual and organizational needs. One of the issues
facing organizations is an ability to foster a workforce
that creates organizational capabilities. Many human
resource development academicians and practitioners
(Abbasi & Hollman, 2000) have suggested and used
training and development as a means of accomplishing
this critical task. A study conducted by Hale (1998) listed
training and development as one of the top five most
effective retention strategies. Employees are more
committed to employers who are more committed to
employees' long-term career development Dessler (1999,
2000). A rationale behind this thinking is that employees
come to organizations with certain needs, desires, skills,
and so forth and expect to find a work environment
where they can utilize their abilities and satisfy many of
their basic needs,. Therefore, with failing to provide for
these basic needs, the commitment level tends to
diminish and it increases the likelihood of the employees
choosing to leave an organization.
Additionally, coaching is also one aspect of career
development that can motivate talent effectively. Since
the organization's success aligns in the talent knowledge
of its people and for organizations to survive, they must
develop current and future leaders (Blotch, 1995).
Coaching has enormous benefits for both individuals
and organizations. The potential implication for an
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organization that successfully employs an effective
coaching strategy includes increased employee retention
and satisfaction, enhanced motivation, morale,
commitment and respect, improved organizational
performance, communication and team effectiveness,
and leveraged learning and creativity at lower costs.
4. METHODOLOGY
Qualitative research methodology was employed in
order to achieve the objectives of the study. It is
necessary to adopt an interpretive methodology to
discover the details of the terms. In accordance with this
argument, it is necessary to explore the subjective
meaning of Talent Management with the ways it can be
done. The human resources managers representing
various companies had participated in the study. This
work has done through census survey and the total
population was 50. The data accuracy was accurate and
costly because all participants took part in this survey
program. The sample ages ranged from 42 to 52 years.
All the managers who participated played important
strategic human resources and personnel development
and management roles in their organizations. This was
validated from a pilot study. All managers offered to cooperate fully with the study. Three important ways and
methods of managing talent were finally articulated and
decorated with diagrams so that it can be applied in a
large scale near future.
4.1 Data collection
A semi-structured interview schedule was the main
research instrument that used in data collection. Other
instruments e.g. schedule of meetings, informal
dialogues with participants’ colleagues statements were
used to triangulate data for its factual accuracy. All
interviews were conducted in a private place of their
choice e.g. at the participant’s workplace or at a
restaurant. A pilot study was carried out with a
participant to attest the appropriateness of the questions
in the interview. The main aim was to probe participants’
experience in terms of the constructs, premises,
presumptions, presuppositions and practices that drive
what and how strategic decisions were made and
implemented in their organizations. The questions
covered participants’ perceptions on strategic talent
management contents, process and context and their
evaluation in terms of talent management program
impact on organizational activities and performance.
However, before the interview began participants were
informed of the tenets of strategic talent management to
ensure that the experiences they described were related
to issues of a talent management nature and not confined
to day-to-day operational matters. Each interview lasted
approximately 2 hours.
5. FINDINGS
Bangladesh is facing a lack of talented employees with
the boom of fast moving consumer goods industries.
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Offering a higher salary is not the only important factor
motivating talented employees working with an
organization but other kinds of motivation such as career
path, career development, and open communication are
important factors as well. This is proved by the turnover
rate of the company at merely 1% of total employees
worldwide. The main reason for leaving a job is family
condition, for instance, employees have to move to other
countries with their husband or wife. So, it is difficult to
find potential graduates to work with the company but
to retain them is more difficult. The ex human resources
director of Unilever told in the interview that that they
try every way to keep talented and high potential
employees with them because they know that by having
this people the company can grow stably and sustainably
in global market.
5.1 Recruitment of suitable people
Selection interview is the only method used in the
recruitment of new employees. Potential applicants are
invited to interview by a HR manager, and then a head
of department or a team leader. However, HR People
always looks at the experience of applicant’s rather than
their degree since experience is the most important factor
that lead to success. Experience is also concentrated
because they need experienced employees in some hitech projects.
5.2 Talent management: Suggested Methods
Method 1:
Organizations need to encourage “open communication”
.Employees have the right to communicate what they
need in order to increase productivity. Thus, talented
employees can demonstrate their ability, skill, and
knowledge as much as they can, and then their superior
will be asked to evaluate performance of subordinates.
This method is highly subjective and proper reasons for
suggesting this method are:
Assessment centers are best to justify whether a new
incumbent possess ample amount of talent or not?
Supervisors usually evaluate performance and
conductivity of the subordinates.
Potential candidates are offered with a great training
program.
Assessments centers send their reviews about the
candidates further.
This method has a EEO (Equal Employment
Opportunity) considerations.
Online performance appraisal can be possible.
The talent management process can begin with following
stages:
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(1) Superiors in every department can be asked to
evaluate performance and productivity of their
subordinate every six month;
(2) Superiors needed to provide total right to judge in
sending potential subordinates to the training
programs organized by both the group HR
department and external training programs,
However, employees can also apply for any training
programs but HR department will select potential
people with recommendation of head of department
or team manager as the first priority.
(3) In case of people who are very talented ones can be
sent to the assessment center with the external
examiner which is a 3-day program.
(4) Management appraisal, however, need to be
organize in every 2 years. Every manager can be
asked to fill in evaluation form about working
knowledge, technical, managerial, social, and
leadership skills of his or her subordinates. While,
subordinates were required to describe their
strengths and weaknesses including experiences in
that form.HR officers then evaluate information and
select talented employees and young potential staff
to take part in the process. Selected employees will
be sent to the program called “management
development circle star”. Employees who take part
in this program will be trained both on the job and
off the job in order to prepare them to be promoted
in managing positions on the next two years.
(5) As every position, each employee needs to get equal
importance. However, employees can share ideas
with
the
company
by
sending
online
recommendations
and
suggestions
to
HR
department. In addition, every appraisal system
needs to be conducted in online so that employees
can express all things without any stress.
Online
appraisal
makes
employees
more
comfortable than a paper-based one because they
can do an appraisal anywhere and anytime they
want.
(6) Finally a competitive salary scheme with a
challenging job or responsibility can be given to
talented or potential employees. Challenging
responsibility can be offered to those who
demonstrate good working performance with the
recommendation of their supervisors. The salary
level can be divided into different levels. Employees,
who are assigned to work in additional challenging
jobs, can be paid salary in higher level.
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Method 2:
Today many people apply for jobs but organizations
really need those people who are proficient in their field
of study and can work as a good team member.
1) Employees can be offered to join in a program but
seats must be limited. Participation will be allowed
according to recommendation of head of team or
department. For example, British American Tobacco is
offering potential students through campus recruitment
by their “Battle of Mind” program.
2) In this method, Potential candidates can be invited to
the interviews that are differently organized according to
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position applied. New employees will be trained and
work in a department for three months, and then will be
rotated to another. At the end of the third month, new
employees and their heads of teams or departments need
to be required to fill questionnaires. The boss of teams or
department will be asked to evaluate new employees in 3
areas; (1) professional skill; (2) potential skill; and (3)
personal skill. In addition, a mentor can be a key factor to
help a new employee work effectively and smoothly as a
team member.
3) After that, every employee needs to be promoted and
succeeded in his or her career. It is difficult to motivate
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these talented people even though offering excessive
higher salary than others in average. Thus, effective
career path can be crucial motivating factor. In this case,
a talented employee who performs a job that fit with his
or her competence does not need to work in another
position or department.
4) Training program designs, however, are always
effective. All training programs must be matched with
goal, vision, mission, and strategy of the company in case
of both short and long term.
5) Finally, a structured questionnaire is required to prepare
so that an employee can rank his or her ability, competence,
attitude toward jobs, projects, department, and company
including problems, and barriers at workplace. An
0
employee can demonstrate all things that he or she needs to
be done. While, a supervisor will also be required to
evaluate an employee about professional, practical or
technical, personal, leadership, and social skills. A
supervisor or a department manager can be the key
successful factor of performance evaluation and potential
searching process because he or she realizes and sees an
employee every day. A supervisor would be a person who
knows an employee best. However, in order to avoid bias of
performance evaluation, three to four supervisors including
a human resource staff need to judge of an employee.
This method might work as an effective toolkit to find
potential team or project talented leaders in the long run.
The proper reason for suggesting this method:
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Campus recruitment is less costly than any other
recruitment process.
This method works with unique mission, vision,
strategy and goals from the very first insight.
This method proposes a questionnaire for an
employee as well as team where Delphi or Nominal
group technique can be applied.
0
It’s a total skill/competency based approach.
This method heavily focused on succession
planning.
After selection, it came with a divergent benefit
options.
Method 3:
1) Online application is utilized as a recruiting instrument as it consumes less screening and working time.
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2)
Then shortlisted need to conduct assessment tests such
as aptitude and attitude tests as well as personality,
leadership, managerial, language, interpersonal
communication and presentation skills. The test covers
all corporate needs because an organization would like
those candidates who fit with the competencies and
corporate culture that base on four basic values: (1)
teamwork, (2) integrity, (3) excellence, and (4)
innovation. The final decision will be judged by the
management executives or appointed teams.
3) In this method, Pre-employment training can be a
vital factor. Pre-training helps to acquire talented
employees and finally arrange them with suitable
jobs. 12-15 candidates can be anticipated and
accepted into this program due to budget constrain.
4) In the mid career period a Global Trainee Program
can be offered to develop qualified graduates to
become excellent global managers. This program
will enable those working in a multi-cultural
environment that increasingly crosses geographical
and organizational boundaries.
5) During the course of the Trainee Program trainees will
learn more about the different opportunities. The
program needs to manage in such a way so that it can
enable trainees to gain insight within and beyond
trainees’ field of expertise without being specialized.
6) After that they can be used directly in company
activities through their work on projects for different
business units across the boundaries.
The proper reason for suggesting this method:
Online application system can be applied here.
A Viva Board can be formed in order to judge
personality, leadership, aptitude test to judge the
core knowledge of the employees.
Teamwork is highly encouraged in this method which
can ultimately helps to judge a person’s introvertness.
Pre-training and post-training both can be applied.
Specialization got preference during the transitional phase.
Successful employees can be capable enough to
work across the boundaries and direct the company
activities outside the territory.
6. RECOMMENDATIONS
1)
2)
3)
Talent management should be encouraged by an
executive or managing board as one of urgent
corporate agendas in every department it involved.
Obvious trainee program should be promoted in a
recruitment of graduated talents.
Active Talent relationship management should be
employed in a recruitment of graduated talents in
various kinds of universities in order to acquire
many choices. For example, British American
Tobacco Bangladesh employs active talent
relationship management in advertising, searching,
and promoting its reputation among academic
arena. A lot of talents from different fields and
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reputable universities around the world are applied
and it selects only the best ones.
4) Personality including attitude toward teamwork and
a corporate should be strictly concentrated in an
assessment process since those are talents but
working in a multinational corporation or
intercultural environment personality is more
important factor than knowledge.
5) Success of a project does not merely depend on
personal ability but personality and positive attitude
toward a team as a member as well.
6) Obvious career path and development should be
announced as one of major corporate polices in order to
motivate talents and potential employees to contribute
their resources for a company and their future.
7) Training and development program should be based
on a corporate strategy in order to manage budget
and employees efficiency and effectively.
8) Democracy in terms of open communication should
be encouraged in order to decrease employees’ stress
and increase creativity. But employees should only
be permitted to communicate with supervisors.
9) A feedback meeting after each stage with coach
might reflect strengths and enables candidates to
develop their individual plan.
10) To prepare talents in high tech projects, several topics
such as Project Management, Conflict Management,
Change
Management,
Communication
and
Teambuilding need to be given high priority.
7. CONCLUSIONS
Regarding the need of talented people, every company
agrees that having talented employees helps them drive
competitiveness but it is difficult to acquire this kind of
people since the recruiting competition of talented people in
the same industries is fierce, besides, the booming of some
industries such as telecommunication, automotive, and
financial industries is catching talented graduates and
employees from them as well. Thus, some talented
campaigns, for instance, global trainee program and
management cycle star program need to be created in order
to motivate talented graduates to join the companies and to
motivate existing potential or talented employees for
dedicating and engaging more with the firms. Tools such as
online application, screening of applications, interview,
invitation to assessment center, presentation of managerial
and language skills, personality, attitude toward the
companies, job, and society can do a remarkable job in this
case. The main purpose of recruitment will be searching
talented people who fit with the core competencies and
corporate culture. All interviewed corporations pointed that
personality and interpersonal skills are more important than
educational background because they believe that every
candidate is to be proficient in a specific science, so, what
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talented candidate must have is personality that matches the
companies’ culture especially characteristic of working as a
good team member. In the trainee program, candidates will
be trained and assigned projects both individual and team
projects as well as a mentor and a coach who advise about
works, disciplines, rules, and corporate culture. During
midlevel candidates will also needs to be rotated to
international offices as intercultural skill is the important
factor in leading competitiveness both individuals and
corporate. Talented people who can work in intercultural
environment are merely desired. This competency is always
concentrated by all companies. For current employees,
talented or high potential employees need to be searched by
self assessment and supervisor assessment methods. Many
companies offer the chance of speaking to employees that can
be called “open communication” in terms of online and
interpersonal communication. An annual discussion of
supervisors and subordinates needs to be always encourage.
HR should know the nature of subordinate best. While,
subordinate also need to evaluate themselves about
knowledge, technical, attitude toward job, leadership, social,
and interpersonal skills as well as strengths and weaknesses.
In addition, an online assessment is also employed as an
evaluating instrument since it is easy and high confidential to
assessors. To avoid bias of evaluation some companies will
use a committee to judge the result. Another method is to use
an autonomy project in order to search a potential leader is
like a team will be formed but it should not assign a team
leader. All members must have equal power and
responsibility. A person who lead a team can obtain an
ultimate goal should have good interpersonal and decision
making skills, be motivate people, and systematic thinking.
Many talented ones can be promoted to higher positions by
using this method. Moreover, challenging responsibilities can
be offered to talented and high potential employees because
the challenges are desired and can always motivate talented
employees continually. Due to the companies realize that
high skill employees need to prove their competence
constantly. All these approaches will lead successful
motivation of talented employees by ensuring the low rate of
turnover.
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