TALENT MANAGEMENT

ICICI LOMBARD
 ICICI LOMBARD
VISION: To be the leading provider of financial services in India and a major
global bank.

MISSION: We will leverage our people, technology, speed and financial

capital to:

 Be the banker of first choice for our customers by delivering high quality,
world-class products and services.
 Expand the frontiers of our business globally.
 Play a proactive role in the full realisation of India’s potential.
 Maintain a healthy financial profile and diversify our earnings across
businesses and geographies.
 Maintain high standards of governance and ethics.
 Contribute positively to the various countries and markets in which we
operate.
 Create value for our stakeholders.
Contd..
 Code of Conduct and Business Ethics

ICICI Group expects all its employees, officers and directors

to act in accordance with high professional and ethical
standards.
WHAT İS TALENT?
According to McKinsey;
Talent is the sum of
 a person’s abilities,
 his or her intrinsic gifts,
 skills, knowledge, experience ,
 intelligence,
 judgment, attitude, character, drive,
 his or her ability to learn and grow.
 TALENT MANAGEMENT:
 A set of business practices that manage the planning,
acquisition, development, retention and advancement of talent
in order to achieve business goals and optimize performance.
 Managing the ability, competency and power of employees
within an organization
 The goal of talent management is to create a high-
performance, sustainable organization that meets its strategic
and operational goals and objective
NEED FOR TALENT MANAGEMENT:
 To compete effectively in a complex and dynamic
environment to achieve sustainable growth
 To develop leaders for tomorrow from within an
organization
 To maximize employee performance as a unique source of
competitive advantage
 To empower employees
 Cut down on high turnover rates
 Reduce the cost of constantly hiring new people to
train
When business needs are high, people with a
range of talents are added. However, When
business eases, talent needs drop and
workforce reductions and hiring freezes are
common responses
Increasing Reducing
 Employee  Employee Turnover
Satisfaction
 Time to Ramp New
 Worker Productivity Hires
 Learning
Effectiveness

 Service Levels
 TRADITIONAL MODEL

ACQUIRE DEVELOP DEPLOY RETAIN

 NEW APPROACH

1. Develop 2. Deploy

Acquire Retain

3. Connect

Develop : Build capability Deploy :Broaden and deepen

through on-the-job learning capability through stretch
assignments
Connect: Create networks and high-
quality relationships that maximize
performance
 Key steps in developing overall talent
Management strategy
1. Identify and confirm business priorities
2. Identify and confirm critical workforce segments
3. Identify and confirm critical workforce trends
4. Assess existing human capital programs on how they address critical
workforce segments issues (human capital programs include Workforce
Planning, Recruitment, Organizational Learning, Performance
Management, Rewards & Recognition, and Workforce
Movement/Succession Planning)
5. Formulate and document a Talent Management strategy (generally a two-
to three-year span)
6. Execute and sustain the strategy through technology enablers, change
management, and training and by clarifying the Talent Management roles
of insurance executives, line managers, employees, and the HR function.
7. Measure, report, and track progress .
 A new model focuses on develop, deploy, connect

3. Talent Management
1. Talent Demand 2. Talent Supply
Objectives
Forecast Forecast

Internal and
Driven by business plans
external labor
and workforce attrition 4. Talent Management market factors
Programs

Serves to define:
• Future business demand for critical talent
• Opportunities presented by the external market
• Potential to maximize existing talent
TALENT MANAGEMENT MODEL:
 Important aspects of Talent Management:
 Talent Acquisition
 Talent Development
 Talent Retention
 Talent Acquisition
Talent Acquisition is the
process of attracting, Employment
finding, and selecting highly
Brand
talented individuals (those
who align with the business
strategy, possess required
competencies, and who will Definition of Need
integrate smoothly and Sourcing
productively into the
organization and its culture)
to meet current and future
employment needs. Selection
Pre-Boarding
Why is it important?
 The Commonwealth must have the right people to fill the right
needs at the right time.
 Success: Effective Acquisition sets the stage for the success of the agency
and the employee.
 Cost: Multiple sources identify the cost of a bad hire as 1.5 to 3
times/salary.
 Opportunity Loss: The amount of time a need is left unfilled results in
opportunities unrealized and costs incurred.
 What is Sourcing?
– Determining the most effective places to find the talent needed
– Includes internal and external sources
– The process includes announcing the job’s availability to the market and identifying
and attracting qualified candidates to apply.
– Includes traditional techniques like advertisements, job fairs and postings
– Also includes techniques like social networking, finding passive candidates, and targeted
functional searches
 Selection - The process used to choose the best talent to make the best fit with
the organization.
 The process involves:
 Interviewing to reveal certain desired characteristics;
 measuring applicants on those characteristics; and
 extending an employment offer
Talent Acquisition Operational
Workflow
Requisition Process

Sourcing

Application Process

Screening and Interviewing

Employment Offers Notification of

Non-selection
 TALENT ACQUISITION STRATEGIES
 Quality of Hire: Percentage of new hires that were the
organization’s top choice
 Quality of Candidates: The ability of the organization to define the
knowledge, skills and abilities needed to succeed in the job and work
environment and to source candidates that meet the competencies
 Program Satisfaction : Hiring manager satisfaction with the
recruitment and hiring process and quality of candidates
 Time-to-Hire: The time it takes to hire a candidate to fill a position
from job open until the position is offered and accepted
 Contd….
 New Hire Retention Rate : The number of new hires who remain on
the job for the first 12 to 18 months
 New Hire Failure Rate: The percentage of new hires in key jobs
that were terminated or asked to leave
 New Hire Retention Rate : The number of new hires who remain on
the job for the first 12 to 18 months
 Performance Ratings of “Contributor” or “Extraordinary
Contributor”: Whether top candidates meet or exceed expectations
on performance reviews
 TALENT ACQUISITION STRATEGIES
• Proactively build and expand the pool of candidates.
• Seek to fill positions internally, if applicable.
• Improve candidates’ pre-screening process.
• Enhance employer brand and reputation in the recruiting
market place.
• Explore new marketing outlets using Internet-based
technologies (i.e., social networking sites) to reach passive
candidates and targeted groups.
• Create efficiencies in recruitment processes and workflows.
• Obtain input from hiring managers.
• Solicit new hire feedback.
• Emphasize strategic workforce planning beyond 18-months.
• Scale back or freeze talent acquisition efforts, when the need
arises.
TALENT DEVELOPMENT
The Develop-Deploy-Connect model differentiates itself in three ways:

1. Focus on critical workforce segments —

those that generate a disproportionate share of
current or future value; they are in high
demand, low in supply, and cannot be replaced
easily.
2. Don’t just acquire talent, but Develop and
grow talent. Deploy them into projects that
engage them. Connect them to communities of
practice within the company.
3. Integrate human capital programs to create a
cohesive Talent Management strategy based on
business priorities.
Develop: Ensuring that critical workforce segments are acquiring
cutting edge skills to drive innovation

Formal training helpful for meeting

specific requirements.
Learning is social in nature - people learn
Capability through their interactions with others,
Develop Deploy
especially when tasked with real-life issues
Performance
People are more committed to the learning
Commitment Alignment that occurs when they are “tested” in ways
Connect that matter, especially when they
collaborate with or are accountable to
others
DEPLOY: Strategic deployment of critical workforce segments will enable
intensified growth

• People learn the most in jobs that stretch

them to grow, tap their unique skills, and
fuel their imaginations
Develop Deploy
Capability • The best organizations avoid
pigeonholing people based on the
Performance confines of their resumes
Commitment Alignment • They also employ formal systems to
Connect manage performance - And they offer
frequent dialogue and feedback
CONNECT: Connecting talent in critical workforce segments converts
knowledge into productive action

• People-to-People: Cultivate high-

performance networks of high-quality
relationships (i.e., CoPs, knowledge
Capability management programs)
Develop Deploy
Performance
• People-to-Purpose: Build and sustain a
sense of personal and organizational
Commitment Alignment mission
Connect • People-to-Resources: Manage
knowledge, technology, tools, capital,
time, and physical space to achieve
professional and business goals
Employee Management
 Appraisals
 Project reviews
 Performance reviews
 Progress monitoring
Career Progression Metrics
 Training completion & success rates
 Skills improvement rates
 On-the-Job Proficiencies

Self-Management
 Progress monitoring
 Self assessment
 Competencies update
 Build a Winning Environment that people want to belong to

 Establish a Talent Management Mindset, which embeds

Ownership and Accountability for Optimising Talent and
Potential

 Create Tangible Means to Identify, select and deploy people

of Outstanding Talent

 Fully Engage Talent, use it and manage it Intelligently

 Recognize
talent

Change
Attracting
Organization
Talent
Culture
WAYS TO
MANAGE
TALENT
Managing Selecting
Succession Talent

Retaining
Talent
 Career Progression

Measure &
Plan Instruct Reward &
Monitor
Promote

• Align
• Provide • Track • Give Suitable
Workforce
to Strategic Training Learning Compensation
and and Rewards
Objectives • Enable
Progression
• Retain Top Global
Talent • Quantify the
Learning
Effect of
Training

Learning Retention
•Build a path that enables the employees to utilise their full
potential.
• Invest in building the psychological contract
 Individual growth
 Compelling future
 Pay
 Positive workplace
•Provide quality feedback in a timely manner.
•provide a better work-life balance.
•Offer professional development opportunities.
•Create an environment in which employees are included more in
the business than just their job description.
CRITICAL FACTORS TO ACHIEVE THE
DESIRED RESULTS:

EXECUTIVES:
• Visible, vocal , aligned and committed to sustaining talent
management as a priority.
• Model the right behavior-spend adequate time on talent
management activities and decisions.
• Hold line managers accountable for developing organizational
talent.
LINE MANAGERS:
• Own and accept their role as people managers.
• Actively provide feedback, coach, and develop their people.
• Capable of having constructive performance and coaching
conversations
EMPLOYEES:
• Employees must take responsibility for their own career
development, using available resources for self awareness,
career planning, skill development, and involving people
who have the power to influence their opportunities.
• Actively articulate career aspirations to managers.
• Seek feedback, coaching and developmental opportunities.
KEY LEVERS TO CREATE THESE FACTORS
INCLUDE:

1. An HR function that can skillfully facilitate the process and

underline how Talent Management helps the realization of
business goals
2. Technology tools that are easy to use and enable the Talent
Management processes; timely, accurate, and open
communications across the company
3. Executives, line managers, HR, and employees trained in the
objectives, process, tools, metrics, and roles in the Talent
Management process
4. Change Management programs that create alignment within
and across functions.
“ Life is not divided into semesters.
You don’t get summer’s holidays or
off and very few employers are
interested in helping you find
yourself.”