TALENT MANAGEMENT IN INDIA: ADVANTAGES & CHALLENGES

1. TALENT MANAGEMENT IN INDIA: ADVANTAGES & CHALLENGES Introduction: Gallup Study – O/g Perf. ← O/g Perf. of People etc. Further, • Appropriate Deployment of Employee’s skills/personalities • Business rise or fall on the strength of people. • Most important factor is HR.

2. What More? • 85% of organizations are experiencing recruitment difficulties • 77% of organizations are experiencing retention problems • 80% of people leave their Managers

3. So What Needs to be done? a) Attract – Sell the Organization, identify and attract, share organization's reputation. b)Develop-look at the strengths, design plans and link to business – coaching and learning. ‘Teaching an employee new skills requires preparation, explanation, showing, observation and supervision’ -Harold Hook

4. c) Retain Three R’s Recognition, Reward and Rejunevate Engagement (20% engaged, 50% cat on wall & .. 20% disengaged) What is Talent? “A recurring pattern of thought, feeling or behaviour that can be productively applied” e.g., The Wall

5. Why Talent is More Important? • can’t teach talent e.g., empathy in nurses/teachers • Skills, knowledge and experience. But now Talent i.e., Conventional Wisdom and Great Manager • Skills [that can be transferred from x to y], knowledge [factual & Experimental] and Talent ←are elements of a person’s performance.

6. Present War for talent: Talent management consultant Marc Effron 18% winning 10% defeat 72% neither win nor lose Can’t we find elsewhere? • Culture may not suit • Finding and grooming someone’s job. • So, yes but corrosive culture

7. Bersin’s study“Talent Watch @First Quarter-Global Growth Creates a new war for talent” • More than half of business feel they are being held back by a lack of talent. • While US & European companies are still recovering Indian organizations poised for 20 to 30% revenue growth [Financial Services, Manufacturing[M&M] Transportation, Food Service]

8. Other Factors • From Cost-Cutting to Innovation (lest U perish e.g., Ford).So Employee Engagement (my company, my customer-Experience at Nalli/Medi-plus) and Individual Performance. Tangible-intangible-experience. • Globalization and Expansion and the need to accelerate innovation throws/poses 3 Urgent Talent Challenges: • Creating a Performance Driven Culture e.g., SWALlvs AILtd. • Filling gaps in the LS pipeline (HR- Staff function but continues to be a line manager’s responsibility) • Developing Skills (product/business challenges-Apple

9. What is that Company Needs to do to asses their TM process and to make it a Core Competency? • Identify key roles, map key players and their roles and responsibilities. • Take an Inventory-Identify critical skills (Employ, improve/develop etc) • Measure the Right Things (offer to hire, skill fit to job) such as attitude and align with your TMP • Set up a Process ← feedback loop

10. TOM FRIEDMAN ON TALENT MANAGEMENT “Competing in a ‘flat world’ (Tom Friedman) requires (well) rounded people. Becoming a well rounded talent requires continuous learning and development of knowledge and skills-Organizations could succeed in flat world competition by creating, enriching workplace experience[SWAL/Zappos], if they wish to attract and retain the high-calibre talent they need”.

11. Presently Major Focus on Skills gaps in Supervisory/Middle level In the new war for talent ←borderless workplace Immediately companies need to address employee and customer satisfaction issues (agrarian-offering fungible, industrial-tangible, services-intangible and in the experience economy the offering has become memorable)

12. What Companies Should do? • Building Deep Skills[obsolete technology dangerous but OHR’s Disastrous] quickly among New/Senior Workers • Establishing relations with prospective employees (Ratan conducting PDP’s at Eng. college) ← Employer Branding / Social Networking • Integrated Talent Management – Internal Mobility Succession Plan • Creating a vision, highly empowered work environment (Gallup)

13. Creating a Great Work Environment is the great growth strategy • To delight your employees • Surprise your employees by meaningful initiatives • Involve,Inform,Inspire and the they will perspire.

14. 7 Tips To Create An Enriching Workplace • Job Stretch and Mobility ← challenged e.g., SEI investments • Mentoring not just Managing • Freedom and Stimulation e.g., Google –time to innovate • Deep Immersion –Trilogy's fast-track merit based • Teaching and Coaching • Diversity of Talents and Personalities ←new exp • Horizontal Growth path-Broaden their skills [ knowledge with in their disciplines and jobs e.g., salesman-vjw]

15. Creating and Delivering a value proportion (WIFM) • When you Convey You Care Retention Works Best. Story- important part in body-shoulder to share.