SIKKIM MANIPAL UNIVERSITY-DE Vernacular Programs Assignment

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Student Name: Usha Bai
Registration Number: 581121098
Subject Name: Talent Management and Employee retention

Course: MBA
LC Code: 3034
Subject Code: MU0017

Question1. What is the importance of talent management?

Answer 1. Like human capital, talent management is gaining increased attention. Talent management
(TM) brings together a number of important human resources (HR) and management initiatives.
Organisations that officially decide to manage their own talent carry out a strategic analysis of their
current HR processes. This is to make sure that a co-ordinated, performance oriented approach is
adopted.
Many organizations are adopting a TM approach which focuses on co-ordinating and integrating
methods which are given as:
Recruitment: To ensure the right people are attracted to the organisation.
Retention: To develop and implement practices that reward and support employees.
Employee development: To ensure continuous informal and formal learning and development.
Leadership and "high potential employee" development: Specific development programs for
existing and future leaders.
Performance management: Specific processes that nurture and support performance, including
feedback/measurement.
Workforce planning: To plan for business and general changes, which include the older workforce
and current/future skills shortages?
Culture: To develop of a positive, progressive and high performance way of operating.
Question 2 Explain the five stage approach for Building a competency model?
Answer 2:- The five stage approach for building a competency model is as follows:
Assemble the focus team and create a list of processes:
The first stage in building a Leadership Competency Model is to assemble a Focus Team composed of
a cross-functional mix of first-line leaders, middle leaders, and senior leaders. Big organizations
might want to build different competency models for the upper and lower line of leadership. These
individuals are Expert Practitioners who are the best people in their fields. With the help of
interviews, surveys, observations and other activities, a list is created of the major processes and the
requirements needed by leaders to carry them out in an correct fashion.
It needs to be ensured that any observations or interviews are performed on Expert Practitioners.
Competencies depend on what an expert does to get his or her job done but not on what others think.
Build behavioural indicators for each process:
This is the second stage where in the major behavioural indicators for each competency are identified
by the members of the HR team that needs to be performed to produce the desired outputs. The
behavioural indicators (Skills, Knowledge, Attitudes) needed for greater performance must be listed
after going through each competency.
These behavioural indicators must be:
Future-oriented rather than problem-oriented as they are creating a powerful tool to guide the
organisation.
A component of a strategic planning or organisational planning process model. The best results are
often achieved when built in along with other processes.
Categories the data:
In this stage, categorisation of data takes place. The competency of leadership is divided into three
classes which are Core, Leadership, and Professional.
Question 3. List the Key elements of talent management system?
Answer 3:- Talent management practices and techniques have evolved over time in response to a
changing workplace. The most effective talent management processes are organization-specific and
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react to an organizations distinctive business and human capital framework. Talent management
includes a range of interdependent processes and procedures that need to be properly integrated. The
organization will not achieve the desired level of human capital performance if talent management
processes do not operate as a unified group.
The key elements of Talent Management System are explained as follows:
Selection: Selection is the process of choosing a candidate amongst a number of probable candidates.
Recruitment and Retention has become a big challenge for organizations due to the continuing global
talent shortage, the changing worldview of work by new generation employees entering the
workforce, and the ever increasing evidence that poor recruitment decisions have a direct impact on
the bottom line.
Recruitment process that is not merit-based and has poor reliability and validity are a burden to an
organization and can even expose the company to discrimination claims. Poor hiring choices can
affect the organization in additional recruitment costs, training and orientation costs, loss of time, lost
opportunity, lost revenue, loss of competitive advantage, tarnish image and reputation. It is about
recruiting the right people in the right place at the right time. Organisations need to filter their
attraction, recruitment and selection approaches to ensure they have the right talent on board to enable
them to remain competitive. A global view that includes a diverse workforce is critical.
Induction and training: Induction is the formal entry of the selected candidates into the organization
and Training is to develop their knowledge, skills and competencies by teaching with respect to the
organisational requirement. Employers should not assume that new hires can cover for themselves,
and will only need brief introductions and a chunk of corporate information to get them started.
Although lost profits due to the training of a new hire has been estimated as 1.0 - 2.5% of total
revenue, it is clear that this induction period is vital given that 6.3% of people leave within the first 6
months of starting in a new role, which is typically due to their induction experience. A proper
induction program helps to reduce employee discomfort, improve productivity and save money.
After an effective, useful and timely training experience should be the progressing development
chances that support the individual in the role, but also the organisation in achieving its broader
objectives. Such training, where possible and practical, should be in-time rather than in-case to
provide training environments and materials that change to meet individual or small group demands
precisely at the time when new skills are needed.
Capability development: Customised improvement opportunities for key talent are seen as an essential
component for motivation and retention of these people. In the present scenario, developing the
current employees is a more cost effective and efficient means of maintaining internal talent pools
rather than recruiting new people and wasting vital resources on their training. Career growth also has
a major impact on job satisfaction and commitment, to an organisation that relates directly to the
retention of dynamic employees.
Both high potentials and core contributors should be given enough opportunities to develop by the
internal talent management in order to maintain operational effectiveness and output. Key performers
and core contributors require different growth experiences that should be modified accordingly for
maximum profit. Committed leaders are required to emphasise the idea on both groups given their
competing business priorities.
The Talent Development structure adopted by an organisation needs to support the talent capabilities
required for the future and needs to be able to blend with ongoing changes. Good leadership quality in
a global and increasingly diverse workplace is a highly sort after competence, and this must be
embedded into any comprehensive development program. Other elements will be established by the
business strategy.
Performance: A performance management system increases the productivity and confidence in an
organisation, if planned and implemented effectively. An example of the problems in performance
management is that, 34% of surveyed Australian organisations using appraisals had no formal
performance management policy in place.
The increasing number of new generation employees in the workforce adds thrust to the importance of
a transparent, objective performance management process as they perform best in a culture that
encourages feedback. Performance management systems should be visibly related to training or
development and recognition or compensation systems within the organisation in order to increase
productivity and retention. Organisations can also defend themselves against legal action resulting
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from discrimination or unfair claims through use of a legitimate and fair performance management
system.
Retention and succession: Retention is the measure taken to encourage the employees to remain in the
organisation for longer period of time. Succession helps an organisation to ensure that employees are
hired and trained to fill each key position within the organisation. Employee retention is an important
issue for top leaders in organisations all over the world. In todays world an abundance of jobs are
available in the market for a job seeker and therefore employers must compete to attract and retain the
talent they need to fulfil their organisational objectives. Talent retention is necessary to good quality,
customer satisfaction and operational efficiency.
Typically, companies prefer to induct 85% of their leaders through internal placement. For example,
Hewitts Top 10 Companies in the Asia Pacific develop 76% of their leaders internally while a global
survey found a 30% failure rate when placing highly sought after external talent.
It is evident that organizations with high quality strategic improvement programs and succession
management programs have greater business results. In addition, increasingly rigid labor markets
make succession management a business necessity and force organizations to identify and accelerate
the development of future leaders from within. The stable organizations under such pressure need to
have an effective succession management policy in place, with a particular focus on the continuity of
key specialists and leaders.
Other key elements of talent management
Besides the four above elements of talent management, some other elements are also available that
help to characterise the relationship between talent management and conventional recruiting. They
include:
A focus on high impact positions: A talent management policy requires managers and HR to
determine an organisations success by filling top talent in the appropriate jobs.
Accountability: Talent management assigns accountability to the chief talent executive for managing
the talent pool, who is responsible for results, not effort.
Rewards and metrics: Talent management builds support and relationship between earlier
independent efforts through its common objectives, metrics and rewards. Thus, no independent effort
can be considered successful unless the overall talent management effort is also successful.
Balanced metrics: Talent management attracts managers attention by instituting a system of methods
and rewards that ensures every executive is acknowledged and rewarded for excellence in human
resource management. It simultaneously evaluates employee commitment to ensure that managers
reach their productivity goals while using the appropriate organisation behaviours.
Business approach: The talent management approach is not taken from an overhead or
administration model. It is created from and replicates other successful business process models, like
supply chain management, finance, and lean manufacturing.
Recognition of the business cycle: The talent management strategy involves identifying the different
types of talent required with respect to changing business situations. Consequently, talent
management requires the constant internal movement of talent in and out of jobs and business units
based on current business needs and where the company is in its business cycle.
Truly global: Talent management encourages attracting, retaining, and developing the best talent no
matter where it is.
Focus on service: Flawless service is the expectation of talent management. Customer satisfaction,
process speed, quality, and commitment are continually measured.
Anticipation: While conventional recruiting and retention tend to be reactive, talent management is
forward looking. It predicts and alerts managers about upcoming problems and opportunities. It
indicates managers to act before the need arises in talent management issues.
The overall objective of this unit helps you to understand the Talent Management System and how it
is implemented in an organisation. It also explains the critical success factors used to ensure the
organisations have the right people in the right jobs. This unit provides a list of primary and applicable
merit principles to state the responsibility and role of an organisation and workforce productivity. You
also came to know about the key elements which are required for an effective Talent Management
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Question.4 Describe the important steps involved in assessing talent management process?
Answer4: The assessment of Talent management process covers three main phases, which are given
as:

Discovery: To carry out a detailed review of all aspects of the talent operations, evaluating
the people, processes and technology across talent acquirement and talent management
systems. The process includes comprehensive study, and interviews with major stakeholders
as needed to gain a complete knowledge of the talent management system.
Analysis: An extensive study on talent management operations is conducted, based on the
result of the discovery process. A talent management analysis is done against the findings,
industry standards, market condition and competitive setting.
Recommendation: Depending on the findings from the discovery and analysis process, the
strengths and gaps in the talent management strategy can be identified. Specific
recommendations in a structured action plan are provided to address identified gaps in the
operations and align the strategy with business goals.
Promotional assessments: assessment can also be used to prepare job holder for
promotions, again, compatibility between the individual and the new position is assessed, as
well as the core skills and competencies needed to be successful in the job.
Talent development: job related traits, performance, and leadership measurement can be
used to strengthen an employees core competencies. Employees can then create active plans
based on these assessments to address particular strengths and developmental areas for use
with a teacher, mentor, or their manager. These types of assessments can also be used as part
of an array to select and or place supervisory, managerial, and leadership talent.

Q5 Explain the methods adopted to control recruitment and hiring process.

Ans: Recruiting or recruitment is a method of looking for skilled candidates for employment and
motivating them to apply for jobs in an organization. Recruitment acts as a connector between the
recruiters and the job hunters. Some definitions of recruitment include:
It is a process of detecting and attracting competent candidates for employment. The process starts
when new employees are required and ends when their applications are submitted. As a result, there is
a pool of applications from which new employees are chosen.
It is a method adopted to determine workforce sources to meet the needs of recruitment schedule. In
this method, effective measures are utilised to attract that workforce in sufficient members and also to
help in successful selection of a capable working force.
Hiring process: Before appointing an applicant for a job position, a company follows a step-by-step
hiring process. This process has three important phases which include planning, recruitment, and
employee selection.
Steps involved in recruitment process:
There are five major steps involved in recruitment process which include:
1. Online application.
2. CV/Resume screening.
3. Initial interview.
4. Technical and competency interviews.
5. Job offer.
Figure illustrates the steps involved in recruitment process-

Online Application

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CV/ Resume
screening

Initial interview

Technical and
competency
interviews

Job offer

These Steps which are involved in recruitment process can be explained as follows:
1. Online application: During this phase, the desired candidate applies for a job online or on
company website.
2. CV/Resume screening: This is the second stage wherein the CV (curriculum vitae) of the applicant
is screened by hiring managers to ensure if the candidate is fit enough for the post.
3. Initial interview: This is the most crucial stage wherein the candidate is asked to take up a written
test.
4. Technical and competency interviews: Once the candidate clears the written test, the next stage
would be technical competency round. This stage involves the recruiting managers ensuring if the
candidate possesses required technical skills suitable for the position which can be in the form of
either face-to-face questioning or a written test.
5. Job offer: This is the last stage of the interview process wherein the candidate receives an offer
letter from recruiting manager after he clears all the interview rounds.
Methods to control recruitment and hiring process
Most of the organisations irrespective of fact whether they are small, medium, or big scale companies
have their own methods of hiring the candidates for the required positions. Sometimes, this process is
dealt within the company itself or it is handled by some subcontractors or recruiting agencies.
Following are some of the aspects of the recruiting process:
Get the candidates resume/CV from different job portals.
Classify the candidates based on different criteria like experience, technology, so on.
Send automated mails to sorted candidates for the interview.
Schedule/reschedule the interviews.
Manage many rounds of interviews for the candidate.
Manage interviewers for different rounds of interview.
Send automated mails and SMS alerts to keep the interviewers informed about the interview
schedule.
Handle interviewers remark and rating for the interviews.
Send alerts for the scheduled interviews, hold candidates, joining candidates, so on.
Get the soft copy of documents like experience letter, relieving letter, resignation letter, so on from
previous company once the selection process ends.
Manage backgrounds check result for the candidates.
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Get feedback report for ex-employees, ex-employee documents like experience letters, pay slips
etc.
Support different reports like hold candidates, selected candidates, candidate feedback report so
on.
Candidate information management
Personal information of a candidate is collected from various sources like job portals, employee
referrals so on. Personal information include full name, contact number, address, email ID,
designation, so on. The resume or CV (curriculum vitae) of candidate is also managed, and the soft
copies of these resumes are uploaded in different formats.
Q.6 Explain the five key steps in strategic talent planning?
Ans: The five key steps in strategic talent planning include:
1. Talent planning workforce
2. Imaging and branding
3. Sourcing methods.
4. Screening and assessing candidates.
5. Marketing and communicating.
1. Talent planning workforce: It involves clear understanding of the organizations business
objectives and the competitive environment that particular organization works in. This
process is a mixture of understanding and predicating demand, simultaneously being
knowledgeable and conscious about talent supply situation from the existing sources. This
step also involves listing the jobs expected in the annual budgeting process and factoring in
revenue. It is developing and most dynamic process, and is one of the most critical stages of
any strategic process.
2. Image and brand: It is a very difficult job to make people aware of the organizational image
and brand. It involves constant interaction and also a plan to create general awareness via
advertisements to let people know that it is a best place to work. The organizations must be
able to answer questions like, what makes it different or unique? or Why would people
like to come and work for them? it is also necessary for the organizations to ensure their
advertisements, web presence, and overall corporate promotions to support this image.
3. Sourcing methods: This includes developing a versatile sourcing tactic. It is essential to
think about the candidates who are very active and responsive to the organizations brand and
image building messages. At the same time, it is also necessary to improve the skills to tap
inactive candidates.
Many sourcing methods like referrals from existing employees, web based search, search
through companys website are adopted to interact with potential candidates who are not
designated but may be given designation some time later.
4.

Screening and assessing candidates: This step talk about the heavy investment on
educating managers in behavioural interviews and the recruiters who are considered to be the
main screeners. It also tells about the role of recruiters in screening and assessing the
candidates. Automate screening lessens the volume of candidates and really increases
candidates satisfaction.
5. Market and communication: Organizations website acts as a precious tool in helping
candidates to know about their status and also to get feedback and information. It is a
important to create systems to constantly interact with candidates personally and also send
newsletters and e-mails. CRM (candidate relationship management) systems provide
information to candidates about the existing openings and also let them know about their
status. it is necessary to ensure the systems selected fit the strategy and make economic sense.

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