SUBMITTED TO:

Alpa Madam
Department Of Labour Welfare
School Of Social Sciences
Gujarat University

SUBMITTED BY:

Jadeja Kuldipsinh
Jr. M.L.W
Roll No: 7

INTRODUCTION

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 Talent Management, often times referred to as Human
Capital Management, is the process recruiting, managing,
assessing, developing and maintaining an organization’s most
important resource-it’s people!

In present talent-hungry marketplace, one of the greatest

challenges that organizations are facing is to successfully attract,
assess, train and retain talented employees. Talent Management
is the end-to-end process of planning, recruiting, developing,
managing, and compensating employees throughout the
organization. The 4 pillars of talent management are: recruiting,
performance management, learning management, and
compensation management. As larger Human Resource
Management System (HRMS) vendors have shied away from
providing rich functionality in these areas, numerous best-of-breed
technology solutions have evolved. These 4 industries have now
begun to converge, providing end-to-end talent management
solutions that enable organizations to better recruit, get more out of
the employee appraisal process, manage learning to develop
employees' strategically-critical competencies, and compensate
employees fairly.

Talent management solutions relieves the stress of writing

employee performance reviews by automating the task and using
your exact workflow. Organizations can establish and
communicate critical corporate goals, measure employee
performance improvement, and ensure that all levels of the
organization are aligned – all working towards the same goals.

Definition Of Talent Management

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 Talent management is therefore all about the integrated
processes and systems by which an organization identifies,
attracts, develops and retains people with the right
competencies (knowledge, skills, behaviors) to improve
performance and move the organization forward in line with its
vision, mission and core objectives.
A conscious, deliberate approach undertaken to attract,
develop and retain people with the aptitude and abilities to
meet current and future organizational needs. Talent
management involves individual and organizational
development in response to a changing and complex operating
environment. It includes the creation and maintenance of a
supportive, people oriented organization culture.

What is Talent Management?

Talent Management, often times referred to as Human
Capital Management, is the process recruiting, managing,
assessing, developing and maintaining an organization’s most
important resource—it’s people!

Talent Management processes is typically found in

numerous parts of an organization. Thus, many organizations
struggle align their talent management under one cohesive
strategy. It may be a considerable challenge to make this happen.

In simple word talent management means

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 “Managing the flow of talent through an organization to
ensure that the right people end up in the right jobs, in the right
place, at the right time”

Talent Management and Human Capital

Management

Many authors say that TM and HCM are the same. However,
according to Donald H Taylor
The-same-as-human-capital-management/) they are not the
same. He says, “Whereas Talent Management is focused on the
individual, human capital management, with its
academic/accounting origins in aiming to understand the value of
people, includes the aggregate view. For this reason, HCM has to
include an idea of the overall value of the human asset in an
organization. It also, from this data, includes analysis of the hot
spots and problems in the current development and deployment of
employees.” However, for the purpose of our discussion we shall
take them to be synonymous. Some other closely related
terminologies are, HRIS (HR Information Systems) or HRMS (HR
Management Systems), and HR Modules. It is beyond the scope of
this paper to bring forth the subtle differences.

Scope Of Talent Management:

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 1. Identifying the Talent which is required
2. Right Selection of the Talent
3. Implementing competitive compensation plans

4. Training and continual development of Competencies

5. Practicing state-of-the–art performance appraisal systems

6. Aligning the acquired Talent.

7. Developing and nurturing the Talent, and

8. Retaining the Talent

Process of Talent Management:

The HR managers today are required to identify the talent gap and
fore cast the shortfalls in advance based on their experience and
bas don the change staking place in the organization. They have to
focus their plans and initiatives to help improve the availability of
needed talent and knowledge. Recent surveys indicate that more
than 62% HR managements are worried about the shortages of
Talent
company -wide. HR Manager should keep in mind the following
factors which are responsible for employees to change jobs
frequently.

1. Rapid changes in the world economy.

2. Strong and continuous economic growth
3. Globalization – making easy the business boundaries
4. Most competitive job market
5. New competency requirements
6. Rise in the outsourcing and off shoring
7. Unexpected economic melt down and recession.

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8. Cascading effect of the above factors on employment
potential resulting in wage cuts, lay offs, pink slips etc.

Element of Talent management

(1)Resource Strategies

Talent management streak with business

strategies and alerting Human resources planning
which defines Human capital requirement and needs
to attraction and retentive policies.

(2)Attraction and relations policies

(3)Talent Audit

A talent audit identifies those will the patens ion and

provides the basis for carrier plant and development.

(4)Role Development

Talent management is conserved with roles people

crayoned. It is calls role development chasing those roles
provides, responlibity, challenge autonomy required to create
role agnment and motivation.

(5) Talent Relationship Management

Talent relationship management is process balding

infective relationship with people in there goal.

(6) Total Reward

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 Total reward stagiest both finales and non fierceness
rewarded and can contribute to the engagement and
commitment at the people who we are talent and have
monitoring they are valued for their contribution and by
operating finally and constantly.

(7) Learning and development

Learning and development are important tools a

development of talent in the org. learning and development
activities should be relating employee success profile.

(8) Career management

Career management consist of process of career

planning of management suggestion career planning says
progression to you individual within organization in actor
done seets assignment of organization means define
employee success profile and performance relation and
preface is individual member of management success
planning takes place to that the organization to meet feeling
business man.

Creating a positive work environment

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It based on four key skills.

1. Tell people what you expect of them.

2. Show interest in your team members.
3. Create an encouraging environment.
4. Recognize and reward good performance.

State Your Expectations

Telling people what you expect of them means doing the
following:
• Communicating expectations clearly
• Having a specific job description
• Identifying specific performance standards
• Specifying deadlines
• Setting goals

Show Interest in Your Team

What behaviors convey that someone is interested in you?
• Making eye contact
• Calling you by name
• Asking your opinion
• Smiling
• Complimenting your work
• Taking your suggestions

Create an Encouraging Environment

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 Most people would agree that an encouraging work
environment is one where:
• Your ideas are valued.
• Creativity is encouraged.
• Risks are encouraged.
• Fun and laughter are valued.
• New ideas are rewarded.
• You feel appreciated.
• People thank you for your contributions.
• Flexibility is valued.
• You feel like part of the team.

Recognize and Reward Good Performance

A reinforcer is anything that happens, after a behavior, that
tends to increase the chances that the behavior will be repeated.
Included are such things as:
• Compliments
• Smiles
• Thumbs-up gesture
• Saying "Thank you"
• Public announcement of your achievement
• Positive letter in your personnel file
• Promotion
• Time off
• Special parking space
• First choice on schedule
• Dinner with the boss
• Tickets to an event
• Extra employee discount

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• Picture on the bulletin board
• Applause at a meeting

Talent Audit

A Talent Audit is a systematic management and | or

leadership review, which aims to measure, align and develop talent

against current and future business needs. The audit generates
rich, detailed information on both organizational and individual
capabilities to execute strategic imperatives. These imperatives
may include driving growth, entering new markets, transforming
organizational culture, or integrating a new acquisition.

Talent development

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 Talent development, part of human resource development, is
the process of changing an organization, its employees, its
stakeholders, and groups of people within it, using planned and
unplanned learning, in order to achieve and maintain a competitive
advantage for the organization.

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