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ASSIGNMENT

DRIVE SPRING 2017


PROGRAM Master of Business Administration- MBA
SEMESTER 4
SUBJECT CODE & NAME MU0017 TALENT MANAGEMENT AND EMPLOYEE
RETENTION
BK ID B1869
Credit & Marks 4 CREDIT, 60 MARKS

Note: Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.

Question. 1. What are competency characteristics? Describe some of


them.
Answer: Competence is the ability of an individual to do a job properly. A competency is a set of
defined behaviors that provide a structured guide enabling the identification, evaluation and
development of the behaviors in individual employees. The term "competence" first appeared in an
article authored by R.W. White in 1959 as a concept for performance motivation. In 1970, Craig C.
Lundberg defined the concept in "Planning the Executive Development Program". The term gained
traction when in 1973, David McClelland wrote a seminal paper entitled, "Testing for Competence
Rather Than for Intelligence". It has since been popularized by Richard Boyatzis and many others, such
as T.F. Gilbert (1978) who used the concept in relationship to performance improvement. Its use varies
widely, which leads to considerable misunderstanding.

Some scholars see "competence" as a combination of practical and theoretical knowledge, cognitive
skills, behavior and values used to improve performance; or as the state or quality of being adequately
or well qualified, having the ability to perform a specific role. For instance, management competency
might include systems thinking and emotional intelligence, and skills in influence and negotiation.

Competency is also used as a more general description of the requirements of human beings in
organizations and communities.

Competency is sometimes thought of as being shown in action in a situation and context that might
be different the next time a person has to act. In emergencies, competent people may react to a
situation following behaviors they have previously found to succeed. To be competent a person would
need to be able to interpret the situation in the context and to have a repertoire of possible actions
to take and have trained in the possible actions in the repertoire, if this is relevant. Regardless of
training, competency would grow through experience and the extent of an individual to learn and
adapt.

Competency has different meanings, and remains one of the most diffuse terms in the management
development sector, and the organizational and occupational literature.[2]

Competencies are also what people need to be successful in their jobs. Job competencies are not the
same as job task. Competencies include all the related knowledge, skills, abilities, and attributes that
form a persons job. This set of context-specific qualities is correlated with superior job performance
and can be used as a standard against which to measure job performance as well as to develop, recruit,
and hire employees.

Competencies and competency models may be applicable to all employees in an organization or they
may be position specific. Identifying employee competencies can contribute to improved
organizational performance. They are most effective if they meet several critical standards, including
linkage to, and leverage within an organizations human resource system

Core competencies differentiate an organization from its competition and create a companys
competitive advantage in the marketplace. An organizational core competency is its strategic strength.

Competencies provide organizations with a way to define in behavioral terms what it is that people
need to do to produce the results that the organization desires, in a way that is in keep with its culture.
By having competencies defined in the organization, it allows employees to know what they need to
be productive. When properly defined, competencies, allows organizations to evaluate the extent to
which behaviors employees are demonstrating and where they may be lacking. For competencies
where employees are lacking, they can learn. This will allow organizations to know potentially what
resources they may need to help the employee develop and learn those competencies. Competencies
can distinguish and differentiate your organization from your competitors. While two organizations
may be alike in financial results, the way in which the results were achieve could be different based
on the competencies that fit their particular strategy and organizational culture. Lastly, competencies
can provide a structured model that can be used to integrate management practices throughout the
organization. Competencies that align their recruiting, performance management, training and
development and reward practices to reinforce key behaviors that the organization values.

Competency Definition Any attitude, skill, behaviour, motive, or other personal characteristic that is
essential for an individual to perform a job or, more importantly, differentiates solid from
outstanding performance.

Competencies Required By Employees: Competencies Required By Employees Competencies


required by an employee for excellent performancce Adaptability Commitment Creativity Motivation
Foresight Leadership Independence Emotional Stability Analytical Reasoning and Communication Skill
s

Behavioural Competencies: Behavioural Competencies Behavioural Competencies Core


Competencies (all employees) Leadership Competencies (people managers & other leaders) Customer
Service Teamwork and Cooperation Results Orientation Accountability Judgment and Decision Making
Talent Management Transformers of Organisation Additional Behavioural Competencies
Communication Conflict Management Creativity and Innovation Cultural Awareness Flexibility
Initiative Negotiation and Influence Professional Development Project Management Teaching Others
Team Leadership

Competency Iceberg Model: Competency Iceberg Model We can think of competencies in terms of
an iceberg Technical competencies (Knowledge, Skill) are at the tip - above waterline, clearly visible &
easier to assess Behavioral competencies (Self-image, Trait, Motive) are below the waterline - more
difficult to assess & often harder to develop Behavioral competencies can be understood as
manifestations of: how a person views him or herself (self-image) how he or she typically behaves
(traits) or which gives purpose & direction to his behaviour ( motives )
Question. 2. Define Talent Management. Discuss the Talent
management Approaches.
Answer: In order to get a sense of where the practice of talent management is headed, it may be
helpful to explore briefly where it has come from. The notion of talent management as defined above
is associated with the rise of large corporations in the 1950s. The firms that dominated the early days
of industrial production had no talent management issues. The owners were the managers, but there
was often little to manage, as much of the work, from sales and distribution to actual pro- duction
tasks, was outsourced. That context first changed with the creation of executive jobs prior to World
War I. Once firms grew large enough to have specialist functions, they needed someone to manage
those functions at headquarters. These newly created jobs had enough discretion to qualify as
executive jobs.

Most companies looked externally, importing candidates to fill executive jobs. Typically this happened
by acquiring smaller companies and their founders. This was an excellent approach given that nothing
in the science of prediction and selection beats observing actual performance in an equivalent job.
One consequence of this approach, however, was that corporations were effectively prisoners to the
supply of talent available in the outside market. Internally, most employers promoted top performers
to supervisory positions, a practice that had some limited success because the supervisory jobs were
not so different from the worker jobs. But the leap from front line supervisor to middle manager was
a big one in that success in the former role did not predict success in the latter. Although a few
companies, GE foremost among them, began experimenting with approaches to developing talent
internally in the 1920s, the diffusion of these models was set back considerably by the lack of hiring
and development from the Depression through World War II. Organizations during the post World
War II boom responded just as they had at the beginning of the century, by raiding competitors for
talent.

Recognizing the need to develop an internal supply of talent, employers turned to the military. In the
short period of time leading up to World War II, the Navy began what was arguably the first truly
systematic effort at large-scale management development and succession planning. Its effort became
a blueprint used by many companies as the basis for building their own talent development programs,
and a common model of internal talent management soon emerged.

This model was designed to provide a steady supply of internal candidates capable of filling managerial
and executive jobs. It began with careful recruitment and substantial investments in identifying
individuals with the potential to become executives, including the use of psychological, vocational,
and intelligence testing. Careers and career planning unfolded within all these large corporations, with
internal advancement supported by early investments in training and regular movements within the
firm to provide development opportunities. External hiring at the executive level was virtually non
existent; one study found that by 1950, 80% of current executives had been developed from within,
and another shortly after found that few contemporary executives in any company had begun their
careers elsewhere.

This model was predicated on the stability necessary to generate long-term forecasts of human capital
demand through workforce planning. Succession plans were but a subset of these broader
workforce/manpower planning models covering entire organi- zations, described by Vetter (1967) as
manpower planning for high talent personnel. These forecasts, which in some cases extended out
a decade, were matched against estimates of the future supply of internal candidates. The assumption
was that the supply of talent for executive positions was entirely internal, with career advancement
and development centrally managed by the firm. The most sophisticated efforts attempted to model
the movement of individuals within a career system by including individual behavior and psychological
variables, supervisory practices, group norms, and labor market outcomes.

Inclusive and Exclusive Approaches to Talent Management

Inclusive approaches suggest that talent management should apply to all workers. All employees of
an organization are seen as possessing strengths that can potentially create added value for the
organization. Exclusive approaches, by contrast, see a subset of employees or jobs as creating
disproportionate value. The practical implication of these two approaches concerns the investment of
scarce resources: Is development for everyone, or should the firm differentially invest in certain
individuals or jobs?

Inclusive approaches seem to have developed more recently, possibly in response to the more
egalitarian concepts in the air during the 1960s and 1970s, as well as workplace regulations requiring
equal treatment of employees in areas such as retirement policies and health benefits.

Exclusive approaches have a longer history, no doubt inspired by the practices in the military where
hierarchical arrangements are assumed. Exclusive approaches are consistent with theories of resource
optimization in the strategy literature and the Matthew effect in the sociology literature in which
unequal investments are seen to generate greater aggregate returns.

Exclusive approaches have increasingly come to dominate the academic literature on talent
management, as reflected in the growing interest in workforce differentiation. The notion of
workforce differentiation or segmentation, a key theoretical development in the strategic human
resource management (SHRM) literature, suggests that organizations should disproportionately invest
scarce resources in the individuals or jobs from which they expect the greatest return. It differs from
older approaches, which simply assumed that the importance of an individual or job was associated
with its position in the organizational chart

Question. 3. Briefly describe the different Talent Management


Processes?
Answer: A talent management system (TMS) is an integrated software suite that addresses the four
pillars of talent management: recruitment; performance management; learning and development;
and compensation management.

Whereas traditional HRMS and enterprise resource planning (ERP) systems focus primarily on
transaction processing and the administration of basic human resources processes such as personnel
administration, payroll, time management, etc., talent management systems focus on providing
strategic assistance to organizations in the accomplishment of long-term enterprise goals with respect
to talent, or human capital. Talent management systems may also be referred to as or paired with an
applicant tracking system (ATS) in either standalone application or as a suite of products. According
to Bersin, talent management may be defined as the implementation of integrated strategies or
systems designed to improve processes for recruiting, developing, and retaining people with the
required skills and aptitude to meet current and future organizational needs.

Functional modules and their market worth


TMS solutions typically offer one or many disparate or integrated modules which provide business
functionality in areas of human capital management / human resources typically referred to as
"strategic".

Performance management
Goal management
Compensation management
Talent acquisition / recruiting
Learning management systems
Career development
Succession planning

The role of talent acquisition and performance management has increased many folds compared to
learning management systems in the talent management market. Many companies which were earlier
working on only one of these domains have moved to developing integrated talent management
systems.

Many organizations are attempting to transform their HR functions into a talent management system.
A highly effective talent management system must be aligned with the strategic needs of the
enterprise. It is essential that the process of transformation, transition or integrations be supported
by top management and involves all key stakeholders.

Most agree HR functions typically include recruiting and selection. However, many functions may not
be integrated with each stage of the employee lifecycle.

To assure a highly effective Talent Management System, the following key elements must be in place,
beginning with onboarding, which is frequently inadequate:

Onboarding: At a minimum, create a consistent onboarding process that includes: clarification of


expectations (which were likely included in the recruiting and selection phase), introductions to key
relationships, and access to all the resources and tools that newly hired employees need to feel
supported and prepared.
Employee Development: This must include the manager/team leader who has been adequately
prepared to coach employees/team members to master the essential skills of the job, particularly the
soft skills which are often overlooked.

Performance Management: Begin by creating a safe environment where employees can learn from
their mistakes. Then, provide ongoing feedbackdo not wait for the typical annual performance
review.

Career Development: The most effective career development process considers the talents and
motivators of the individual, which ideally would have been discovered in the selection process. The
most effective career development process includes the formation of a cohort of employees on a
similar path who also have mentors.

Succession Planning: An effective succession plan is integrated with the strategic requirement of the
organization that considers how the stages of growth will be managed, including the number and
types of positions required. Best practices would include benchmarking those positions to establish
the talent required for successful performance. Then, begin a talent search and inventory from those
who are in the career development process.

Question. 4. Explain the key Compensation principles. What do you


mean by Total rewards? Describe the elements of Total rewards
Answer: The WorldatWork Total Rewards Model demonstrates the dynamic relationship between
employers and employees. Originally introduced in 2000, it has evolved to depict the strategic
elements of the employer-employee exchange as well as to reflect how external influences and an
increasingly global business environment affect attraction, motivation, retention and engagement.

What Is Total Rewards?

The WorldatWork Total Rewards Model demonstrates the dynamic relationship between employers
and employees. Originally introduced in 2000, it has evolved to depict the strategic elements of the
employer-employee exchange as well as to reflect how external influences and an increasingly global
business environment affect attraction, motivation, retention and engagement.

The six elements of total rewards that collectively define an organization's strategy to attract,
motivate, retain and engage employees are:

Compensation: Pay provided by an employer to its employees for services rendered (i.e., time,
effort, skill). This includes both fixed and variable pay tied to performance levels.
Benefits: Programs an employer uses to supplement the cash compensation employees
receive. These health, income protection, savings and retirement programs provide security
for employees and their families.
Work-Life Effectiveness: A specific set of organizational practices, policies and programs, plus
a philosophy that actively supports efforts to help employees achieve success at both work
and home.
Recognition: Either formal or informal programs that acknowledge or give special attention
to employee actions, efforts, behavior or performance and support business strategy by
reinforcing behaviors (e.g., extraordinary accomplishments) that contribute to organizational
success.
Performance Management: The alignment of organizational, team and individual efforts
toward the achievement of business goals and organizational success. Performance
management includes establishing expectations, skill demonstration, assessment, feedback
and continuous improvement.
Talent Development: Provides the opportunity and tools for employees to advance their skills
and competencies in both their short- and long-term careers.

Compensation is the HRM activity that deals with every type of reward that individuals receive for
performing organizational tasks. It is basically an exchange relationship. Employees exchange their
labour for financial and non-financial rewards. Financial compensation is both direct and indirect.
Direct financial compensation consists of the pay an employee receives in the form of wages, salary,
bonuses, and commissions. Indirect financial compensation (also called benefits) consists of all the
rewards that are not included in direct compensation, such as vacation time and insurance coverage.

From the employees perspective, pay is a necessity in life. The compensation received from work is
one of the chief reasons people seek employment. Pay is the means by which they provide for their
own and their families needs. For some people, compensation may be the only (or certainly a major)
reason why they work. Others find compensation a contributing factor to their efforts. But pay can do
more than provide for employees psychological needs. It can also indicate their value to the
organization.

Compensation Policy has the objective to establish and maintain a compensation program that will:

Attract and retain qualified employees at all levels of responsibility who perform in a manner that
permits the College to achieve its objectives and goals;
Reflect the relative value of jobs;
Be externally competitive and internally consistent and fair;
Provide the flexibility (based upon availability of funds) toward employees on the basis of individual
performance and contribution to the achievement of college goals;
Foster good employee understanding and relationships; and
Comply with all Board of Regents, State, and Federal Laws and regulations.

Traditionally, the focus of compensation management has been primarily on enabling an organization
to recruit and retain employees while complying with legal and statutory requirements. Pay was
primarily related to status and hierarchical position. It is now being viewed increasingly as the key to
acquire a competitive advantage.

Innovations in compensation are considered necessary to do more with less by reducing labour cost
per unit of output, motivating employees to higher performance, providing an impetus to skill
development and higher quality and so on.

Some Basic principles

1. There general level of wages and salaries should be reasonably in line with that prevailing in the
market. The labour market criterion is most commonly used.
2. There should be definite plan to ensure that differences in pay for jobs are based upon variations
in job requirements, such as skill effort, responsibility or job or working conditions, and mental and
physical requirements.
3. The plan should carefully distinguish between jobs and employees. A job carries a certain wage rate,
and a person is assigned to fill it at that rate. Exceptions sometimes occur in very high-level jobs in
which job-holder may make the job large or small, depending upon his ability and contributions.
4. Equal pay for equal work, i.e., if two jobs have equal difficulty requirements, the pay should be the
same, regardless of who fills them.
5. An equitable practice should be adopted for the recognition of individual differences in ability and
contribution.
6. There should be a clearly established procedure for hearing and adjusting wage complains.
7. The wage should be sufficient to ensure for the worker and his family reasonable standard of living.
8. Prompt and correct payments of the dues of the employees must be ensured and arrears of
payment should not accumulate.

Executive compensation: The pay of executives is merely a special case within the topic of
compensation, but it does have several twists that deserve attention. First, the base salaries of
executives are higher than those of low-level-managers or operative personnel. Second, executives
frequently operate under bonus and stock option plans that can dramatically increase their total
compensation. A senior executive at General motors, IBM, Data General, or General Electric may in
good year earn $500000 or $1000000 or more on top of his base salary. Executives receive perquisites
or special benefits that others do not.

How do organizations justify such extraordinary salaries for their executives? The answer is simple:
economics and motivation. In economic terms, we know that top managers are expected to
demonstrate good decision making abilities. This skill is not widely held in our society. As a result, the
supply of qualified senior executives is scarce, and organizations have bid up the price for this talent.
High salaries also act to motivate both top level-managers to perform well in order to keep their jobs.

Retaining and rewarding leadership is a hot button issue facing most organizations. Increasing
complexity of hiring leadership talent in the face of burgeoning market demand is bringing companies
under pressure to retain their top talent. The only way to reward and retain top leadership is by
sharing the success of the company with them, says Piyush Mehta, senior V-P, Genpact, India.

Motivating for high performance can cost a lot of money. Not everyone can be motivated by money
alone, however much. Incentive pay plans should be designed not only to reward good performance
but also to minimize the negative side-effects, such as conflict and grievance. At times it is difficult to
develop a valid, equitable and acceptable means of performance. Many pay plans fail because of
either not being suited to the particular situation or because of poor implementation. It is essential to
consider the following aspects before designing a pay plan to motivate performance:

preference of individual employees;


size of pay rewards for high performance;
method of motivating individual job performance;
subjective

For effective and sustained motivation, the reward must be prompt and immediate. The example of
Foxboro has been quoted. In its early days, the company's very survival depended on technical
innovation. Late one evening a scientist walked into the president's office with a working prototype.
The president was dumbfounded by the elegance of the solution and sought to reward him
immediately and on the spot. Rummaging through the drawers of his desk, all he could find was a
banana and this had to suffice. This was the forerunner of the 'gold banana' concept, a very apt and
fitting reward. Likewise, Thomas Watson Snr. had made a practice of writing out a check on the spot
for any unusual achievement that he observed.

Example: Signet

Signet is the worlds largest specialty retail jeweler by sales, with stores in the US, UK, Republic of
Ireland and Channel Islands.

The Compensation Committee believes that to be effective, compensation policy must be based on
sound, clear principles which are well understood and recognize the long term interests of the Group,
its shareholders and employees.

I. Signets primary business objective is to deliver results which should consistently outperform
the average of the industry sector.
II. It is recognized that to consistently deliver above industry average performance Signet will
need to retain, and where necessary attract, executives of well above industry average ability
and leadership potential.
III. It is recognized that in order to retain or recruit senior executives of the caliber necessary to
deliver above industry average results, the Group must provide very competitive levels of total
compensation. Therefore, the total compensation of Signets senior executives will be
targeted at the median of industry compensation, with an acceptable range of + or 10
percentile points. Positioning within this range will be based on performance (both of the
Group and the executive), potential (i.e. the executives potential to grow in responsibility and
performance), and scarcity (i.e. the availability of candidates to replace the executive should
he/she leave the Group). As noted in principle (iv) below, when the Group significantly
outperforms the industry, the performance based elements of compensation should result in
significantly higher total compensation than that achieved by executives in competitor
companies.
IV. Total compensation for executive directors and other senior executives should be highly
geared towards performance with the proportion of at risk pay increasing according to: a)
the level of performance achieved, and b) the ability of the executives to influence results.
Excluding pension contributions, the provision of a company car and private health insurance,
there should only be one element of guaranteed compensation: base salary. The performance
related portion of total compensation should separately reward short term performance
(through the annual bonus) and long term performance (through share and other long term
incentive awards).
V. Surveys will be undertaken on a regular basis to ensure that total compensation packages
remain in the percentile range described in (iii) above. Recognizing that more than 70% of the
Groups sales and profits are generated in the US and that significant compensation
differences exist between the US and the UK markets, separate surveys are conducted in each
country.

The components of total compensation:

(a) Base salary: The base salary of each senior executive reflects the size and scope of his/her
responsibilities and is reviewed annually, based upon individual performance, experience, surveyed
competitive data and trends and geographic location of each position as well as the movement of base
pay in the Group.

(b) Annual bonus plan: Annual bonus targets are set by the Compensation Committee each year after
considering the Groups current business plans. There is a maximum bonus level set each year on such
awards, which is equal to twice the target level, and a threshold performance below which no
payments are made.

(c) Share option plans: The Compensation Committee believes that executive share options are an
appropriate element of compensation in order to execute the compensation principles set out above,
and are an effective tool to incentivize executives to deliver the long term performance needed to
generate strong returns to shareholders.

(d) Long term incentive plan: The Company has established a Long Term Incentive Plan. The policy to
date has been to make annual awards expressed as a percentage of salary with vesting dependent on
the achievement of challenging performance conditions set by the Compensation Committee at the
time the awards are made.

Question. 5. Explain the role of IT in Talent Management Systems.


Answer: Information technology and system have changed the way business gets conducted. Every
decision-making process is enhanced with utilization of an information system. Information systems
have been deployed by human-resource team to enhance employee employer relationship.

Companies require great deal of contribution from employee for its success though information
systems have made several processes automated.

Talent Management

Talent management and human-resource management are completely two different fields, although
the human-resource team is responsible for talent management.

Talent management is organization focus towards complete management of recruitment, retention,


development of brightest talent available. The focus of talent management is to attract best talent in
the market and convert them into efficient and effective work force. Talent management team is
responsible for hiring, maintaining and retaining the best talent.

Talent Management Evolution

Talent management finds its roots in earlier workforce management and human management
concept. Earlier concept saw intervention of human resource in managing and retaining talent.
However with talent management, this responsibility is transferred to manager.

Talent management empowers manager to take upon greater responsibility. The manager is actively
involved from talent acquisition, recruitment process, retaining and development of the employee.
Organizations have their own approach towards talent management. Certain organizations include
only their star performers as part of talent management, whereas some organizations consider all
staff within talent management.

Talent Management as a Strategic Tool

Talent management is actively used by organization as a strategic tool. Companies need to blend
talent management with business strategy as to boost employee management activities. The onus of
attracting and managing the best industry talent is on the respective managers.
Organization needs to develop a process through which employee talent can be recognized and
shared. This would enable best utilization of talent across the organization.

Employees are encouraged to manage their individual development plan.

Talent Management System

A talent management system is an information technology solution to manage four corner points of
human-resource management:

Recruitment,
Performance management,
Learning-development management and
Compensation management.

The existing enterprise resource planning systems are focused on employee transaction such as
payroll, leave management, etc. The talent management system looks at providing human-resource
solution for long-term strategic goals.

The key features and development history are as follows:

Talent management system became a reality with the advent of client/server technology. It
was now possible to electronically manage applicant base important for multi-national
companies. The Internet and data analytics also helped the development of the talent
management system.
Talent management system became important to manage high-performance work
environment, reduced top management attrition, increase employee satisfaction, create
talent pipeline, and develop better compensation models and creation of uniform
performance measure metrics.
The two driving points of the talent management system are recruitment and retention.

An organization needs to align its business strategy with human-resource strategy to develop and
manage effective talent management system. A development of the talent management system
requires the following:

Finalization of various competencies around which future development of an employee is to


take place.
Creating of a human-resource model to rank and stack the existing workforce.
Examine the current human-resource process to identify the developmental areas.
Develop tools to increase existing talent pool.
Pro-actively identifies future skill set requirements and manages the talent pool accordingly.

Question. 6. Write short notes on:

a)Promoting ethics in workplace


Answer: It is important for staffers to focus on accomplishing key company goals and developing good
working relationships in the office, but it is equally important to ensure ethical conduct among
employees. Ethical conduct ensures that your business maintains a reputation for sound professional
principles and values that are directly in line with the company mission. There are a few different ways
that you can promote ethical conduct among your staff.

Train Employees: You can't expect your staff to act ethically in accordance with your company's code
of ethics if they don't know what that code is or why it's important. Hold regular sessions on ethics
and how to approach ethical dilemmas among staff. The more training and resources you provide, and
the greater emphasis you place on being ethical and acting accordingly, the more your staff
understands exactly what you expect in the office.

Reward Ethical Behavior: Far too often, companies simply expect ethical behavior; however, if you
want to promote this as a prominent behavior among staff, then you need to show and prove, so to
speak. Provide rewards for solid ethical behavior; for example, if you have an employee that goes
above and beyond to put her personal interests aside to always do what is best for her clients, that is
considered ethical behavior and she should be rewarded and held up as an example for others to strive
to do the same. The more you reward employees for sound ethical decisions, the more likely the
masses will follow suit.

Lead by Example: Expect more of your management team; employees generally follow company
examples set forth for them by management employees. Hold your managers to a higher ethical
standard so that they are credible when they communicate expectations to their staffers to do the
same. Challenge management staff to hold regular discussions with employees to work through
potential ethical issues that may come up and find ways to brainstorm through them as a team. If
everyone is on the same page, it is more likely that the team as a whole will adopt the same types of
ethical behaviors.

Consider Work-Life Balance: According to the Accounting Web website, a 2007 Ethics and Workplace
survey by Deloitte & Touche states that 91 percent of employees surveyed said they are most likely to
make good ethical decisions at work when they have a better sense of work-life balance. Pay attention
to signs of burnout or discontent among staff, and take steps to address these types of issues when
they present themselves.

b)Talent Review
Answer: The talent review process is centered around one or more talent review meetings intended
to evaluate organizational trends, assess strengths, and address areas of risk for an entire
organization. The people invited to participate in the meeting, who are generally managers within the
organization that is being reviewed, can review and evaluate existing profile, performance, goals, and
compensation data for individuals within the organization and calibrate the data before and during
the talent review meeting. The human resource (HR) specialist (or other designated HR business
partner) is responsible for organizing and facilitating the meeting in conjunction with the
organizational business leader.

During the talent review process, you can:

View talent across an entire organization or filter to view population segments.


Calibrate performance and potential ratings.
Evaluate risk and impact of loss.
Evaluate compensation plans.
Create goals for workers.
Identify, assign, and track actions throughout the review process.
Store the results for future comparisons.

View Talent Across an Entire Organization or Filter to View Population Segments: During the talent
review meeting participants can view a box chart representing any level of the organization to
distinguish between high performers who do their job well, those with high potential who may be
ready for new opportunities, and those who are performing below expectations. Participants can view
them as an aggregate, or compare groups within the organization by filtering according to job,
location, or other categories. Drill down to view an individual's data, including performance and
potential ratings, the worker's experience, education, licenses, certifications, and willingness to
relocate.

Calibrate Performance and Potential Ratings: Based on discussions during the meeting you can create
new, calibrated performance and potential ratings for a worker. This has the effect of leveling
differences in evaluations between managers to give a clearer picture of the strengths and weaknesses
of workers across an organization.

Evaluate Risk and Impact of Loss: Compare the risk and impact of loss ratings provided by participants
for workers to ensure workers in key positions can be retained. Managers can use the data to develop
development plans or incentives for valuable workers who are likely to leave or whose loss would be
significant. Participants can create individual development plans for workers and specific action plans
to promote workers or adjust compensation.

Evaluate Compensation Plans: Review current compensation information for workers, including
salary, last increase, and stock options to determine if they are compensated fairly and adequately.

Create Goals for Workers: View current goals of workers, and create performance goals that can
become part of their performance evaluations, or development goals that are added to their
development plans to help them increase their skill set. The goals can be tracked and updated by
workers and managers on the pages where they manage their goals.

Identify, Assign and Track Actions Throughout the Review Process: Create action items and capture
notes for individuals or the organization to address issues that are identified at the talent review
meeting. Participants can also create special assignments for workers who are likely to leave or whose
loss would be significant. Track action items using the action plan to ensure completion.

Store Results for Future Comparisons: Data from the meeting is retained so that it can be used in
future meetings to compare worker progress between talent reviews. The performance and potential
updates captured in the meeting are stored as part of the worker profile data and can be marked with
the talent review as the source to distinguish it from a performance evaluation or other source.