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COMPANY Ltd.
A Project Report submitted in partial fulfillment of the requirements for the degree of Master of Business Administration
By Amol Bhagwan Kasar PRN: Kalyani Ravindra Sapkal College of Management Studies, Sapkal Knowledge Hub, Kalyani Hills, Anjaneri-Wadholi, Trimbakeshwar Rd, Nashik-422212. Tel-(02594)220165. Project Guide: Mrs. Manisha Gaikwad To Pune University-Pune-411007 Year-2008-10
ACKNOWLEDGEMENT
Words put on paper are mere ink marks, but when they have a purpose there exist a thought behind them. I too have a purpose to express my gratitude towards those individuals without whose guidance the project would not have been possible.
I would like to express my thanks to Mr. G. M. Pitale (Head Personnel Division), COMPANY Ltd. Who has kindly permitted me to undertake the project in the organization.
I am also thankful to Mrs. Alka Jadhav and other members of the organization for their support and providing the required information.
It was a pleasure to be associated with COMPANY Ltd. The experience that I have garnered has had a profound impact on my career choices and has helped me realize what is requisite for success in the corporate world. I carry high regards for the complete team of COMPANY Ltd.
I also take this opportunity to express a great sense of gratitude towards our Director, Dr. B. B. Rayate and internal project guide Mrs. Manisha Gaikwad for providing me vital inputs to co-relate the present project work and hence provide a sound base to the report structure. A special word of thanks also goes to all the teaching and non teaching staff of my institute and my Friends. Date: 07-11-09 Amol B. Kasar
DECLARATION
I hereby declare that this Project Report titled Talent Management submitted by me is based on actual work carried out by me under the guidance and supervision of Mrs. Manish Gaikwad. Any reference to work done by any other person or institution or any material obtained from other sources have been duly cited and referenced. It is further to state that this work is not submitted any where else for any examination.
K. R. Sapkal college of Management Studies. Kalyani Hills, Sapkal Knowledge Hub, Anjaneri-Wadholi, Trimbakeshwar Rd, Nashik-422212. Tel-(02594) 220165.
Signature of Student
Amol. B. Kasar
Date: 07-11-09
This is certify that Amol Bhagwan Kasar has completed the Project Report on Talent Management under my guidance and supervision , and submitted the report as laid down by Pune University, Pune. The material that has been obtained from other sources is duly acknowledged in the report. It is further certified that the work or its part has not been submitted to any other university or examination under my supervision. I consider this work worthy for the award of the degree of Master in Business Administration.
K. R. Sapkal college of Management Studies. Kalyani Hills, Sapkal Knowledge Hub, Anjaneri-Wadholi, Trimbakeshwar Rd, Nashik-422212. Tel-(02594) 220165.
Signature of Guide
Name:
Date:
Chapter 1: Introduction
1.1 1.2 1.3 1.4 1.5 1.6 Object of the project Introduction of study Objectives of the study Rationale of the study Scope of the Project Limitations of the Study
12-17
18-25
26-30
Sr. No.
5
Page No.
31-42
43-49
50-60
61-69
9 10 11
Chapter 9: Conclusion and testing of hypothesis Chapter 10: Suggestions and recommendations
72-80
81-85
Appendices
I Questionnaire II Bibliography
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Chapter 1: Introduction
Chapter 1
10 1.1
Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suits a particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities. Talent Management is beneficial to both the organization and the employees. The organization benefits from: Increased productivity and capability; a better linkage between individuals' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people's jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction. In these days of highly competitive world, where change is the only constant factor, it is important for an organization to develop the most important resource of all - the Human Resource. In this globalize world, it is only the Human Resource that can provide an organization the competitive edge because under the new trade agreements, technology can be easily transferred from one country to another and there is no dearth for sources of cheap finance. But it is the talented workforce that is very hard to find. Talent signals an ability to learn and develop in the face of new challenges. Talent is about future potential rather than past track record. So talent tends to be measured in terms of having certain attributes, such as a willingness to take risks and learn from mistakes, a reasonable (but not too high) level of ambition and competitiveness, the ability to focus on big picture issues, and an awareness of their own strengths, limitations and impact on others. Several talent management processes need to be in place on a strategic level in order ensure its success. Such processes/strategies include talent identification, recruitment & assessment, competency management, performance management, career development, learning management, compensation, succession planning etc. Talent management has a number of benefits to offer such as employee engagement, retention, aligning to strategic goals in order to identify the future leadership of the organization, increased productivity, culture of excellence and much more.
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1.2 Objectives of Study:In the current scenario of cutthroat competition, every company has to survive to satisfy its customers by providing them quality products and services. The summer training at Company, was undertaken with a view to study certain fundamental as well as the commercial and operational aspects of the company. The training involved the study of the following: To understand the entire procedure of Talent management To understand the need of Talent Management To study the accuracy and quality of work of employees by talent management procedure. To suggest possible improvement in Talent Management process.
1.1
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The talent in an organization refers to the current employees and their valuable Knowledge, skills and competencies. Talent management (or succession management) is the ongoing process of analyzing, developing and effectively utilizing talent to meet Business needs. It involves a specific process that compares current talent in a department to the strategic business needs of that department. Results lead to the development and implementation of corresponding strategies to address any talent gaps or surpluses. Talent management for the HR Community is a priority of the HR Strategy for the HR Community. Not only does the HR Strategy support the HR Community as its own professional group, but it also recognizes and will support the role human resource professionals have to help their clients become skilled, committed and accountable public servants. The implementation of a talent management process that is transparent and equitable is expected to create an environment for people to develop their skills in preparation for a range of future possibilities thereby preparing the workplace for changing roles. The goal of this process is to map the business needs of the HR Community with the potential and career development needs of our people in order to develop a comprehensive Talent Management Plan.
1.2
Limitations of Study:-
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1) All the functions are only related with the personnel department. 2) Limitation about the working hour of the worker in the factory.
3) Limitation about the time and absenteeism. 4) Company not allowing to disclose confidential information 5) Time factor was the major limitation of this survey. Because during survey any activity of organization which is directly or indirectly related to the production process should not disturb due to survey.
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D N A
In fact, the following appropriately describes the role of talent management: Translating organizational vision into goals and mapping the required level of capacities and competencies to achieve goals aligning individual values and vision with organizational values and vision. Clear understanding of the varied roles within the organization and appreciation of the value-addition from self and others leading to building a culture of trust, sharing and team orientation. Assessment of talent to profile the level of capacities and set of competencies possessed within the organization. Enhancing capacities to learn, think relate and act through development initiatives. Individual growth to meet and accept varied incremental and transformational roles in
16 an overall scenario of acknowledged need for change. Gap analysis and identification of development path helping individuals realize their full potential through learning & dev. Developed individuals enabling breakthrough performance
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o o o o
Research Methodology
Research Methodology is a way to systematically solve the research problems. It may be understand as a science of studying how research is done scientifically. In it
18 we are studying his research problems along with the logic behind them. It is necessary the researcher to know not only the research method techniques but also the methodology.
Types of Research:It is descriptive type of research. Descriptive Research survey and fact finding inquiries of different kind. The major purpose of descriptive research is descriptive the state of affairs, as it exist at present. The main control over the variable; he can only report what has to discover the even when there he cannot the variable. The methods has to researcher utilized in descriptive research are survey methods of all kind.
Data Source:The source of project depends on accurate data. Thats why data collecting the appropriate data, which differ considerable in context money, cost, time and other resources at the disposal researcher. There are two types of data collection methods available:1) Primary Data Collection Method. 2) Secondary Data Collection Method.
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Alternate Hypothesis:
Employee are not able to take benefits from Talent Management System Employee can not retain successfully for the benefit of organization Employees performance can not increased by talent management. Talent Management is not affecting on employee turnover of organization
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23 communications, information, transportation, healthcare, components and lighting has become essential parts of everyday life. While Werner was a tireless inventor during his days, Company today remains a relentless innovator. With innovations averaging 18 a day, it seems like the revolution Werner started is still going strong. In 1890, the founder retired and left the company to his brother Carl and sons Arnold and Wilhelm. Company & Halske (S&H) was incorporated in 1897. In 1907 Company had 34,324 employees and was the seventh-largest company in the German empire by number of employees. In 1919, S&H and two other companies jointly formed the Osram lightbulb company. A Japanese subsidiary was established in 1923. During the 1920s and 1930s, S&H started to manufacture radios, television sets, and electron microscopes.
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Communication Systems
Power Generation
Automation
Lighting
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Medical technology
Building Technologies
Home Appliances
Fire Alarms
IT Services
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Financing
Construction
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Chapter 4: Introduction
4.1 Meaning Definition With businesses going global and competition becoming intense, there is mounting pressure on organizations to deliver more and better than before. Organizations therefore need to be able to develop and deploy people who can articulate the passion and vision of the organization and make teams with the energy to perform at much higher levels.
These people build and drive the knowledge assets of a corporation, the value of which has been established to be many times more than the tangibles. The capacity of an organization to hire, develop and retain talent is therefore the most crucial business process and priority on the CEOs agenda. The 1990s ended with a call-to-arms to fight the war for talent. While the war for talent clearly has cooled in the early stages of the 21st century, dampened by economic doldrums & concerns with global security; the rear battle to attract, motivate, development & retain talent is going to heat up considerably. A looming demographic time-bomb will make Talent Management a priority for organizations. A host of issues like: loss of human capital, talent shortages, ageism, and cultural clash has made acquiring & managing talent difficult. Talent Management describes the process through which employers of all kinds Firms, Govt., and Non-profit organizations anticipate their human capital needs & set about meeting them. Thus Talent Management refers to: getting the RIGHT PEOPLE with the RIGHT SKILLS into the RIGHT JOBS.
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It is a professional term, also known as Human Capital Management that refers to the process of developing & fostering new workers through on boarding, developing & keeping current workers & attracting highly skilled workers to work for your company. Companies that are engaged in Talent Management are strategic & deliberate in how they recruit, manage asses, develop & maintain an organizations most important resource its PEOPLE. This term also incorporates how companies drive performance at the individual level. Decisions about Talent Management shape the competencies that organizations have & their ultimate success; & from the perspectives of individuals, these decisions determine the path & pace of careers. We may thus understand that this term is usually associated with competency based HRM practices. Talent Management decisions are often driven by a set of organizational core competencies as well as position specific competencies. The competency set may include knowledge, skills, experience & personal traits.
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This term of talent management is usually associated with competency-based human resource management practices. Talent management decisions are often driven by a set of organizational core competencies as well as position-specific competencies. The competency set may include knowledge, skills, experience, and personal traits (demonstrated through defined behaviors). Older competency models might also contain attributes that rarely predict success (e.g. education, tenure, and diversity factors that are illegal to consider in relation to job performance in many countries, and unethical within organizations).
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Importance
First, let us look at some of the reasons for the importance of talent management.
Globalization:
Now for any jobseeker the whole world is the potential place to find employment. One can know the opportunities available in any part of the world easily and the number of talent seekers has also increased.
Increased Competition:
Increased competition in the market place has necessitated the need for consistently good performance on the side of organizations. These have made the companies to put in all efforts to hire and retain the best talent in the respective field of operation.
Increasing Knowledge:
The knowledge era has necessitated the retaining of those talents which have the ability to assimilate new technologies and knowledge, which are growing at a pace never seen before.
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2)
Maximum Output
Organization can make maximum out put in minimum resources.
3)
4)
Perfection increase
Due to skilled employee Perfection in work is increase. There is low probability of mistakes.
Retention
Developing and implementing practices that reward and support employees.
Employee development
Ensuring continuous informal and formal learning and development.
Performance management
Specific processes that nurture and support performance, including feedback/measurement.
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Workforce planning
Planning for business and general changes, including the older workforce and current/future skills shortages.
Culture
Development of a positive, progressive and high performance "way of operating".
37 They are mostly equipped with only the theoretical aspects of the issues and lack the application part. The educational system is faulty and does not take industry needs into consideration, resulting in a mismatch between industry requirements and educational preparation.
Cost Factor:
Recruiting new employees is becoming tougher and tougher in the developing countries, where the HR department has to sort out thousands of applications for a handful of jobs. Finding right person for the right job becomes a very difficult process. It also involves very high cost to conduct the recruitment and selection process for such a large population of applicants.
Let us look at some of the reasons behind the massive attrition rates: -
1. Gap between organizational values and goals and the personal values and goals is one of the major reasons of the attrition rates. If they go parallel, there is no way both would be satisfied and inevitably, the organization would lose out on a talented employee.
2. Working environment is another major factor. Employees in the knowledge era demand creative and a democratic work environment. Failure on the part
38 of the management to provide such an environment will result in a talented employee leaving the organization.
3. The competitive world has made sure that there is high work pressure on the employees of any organization. This has led to psychological problems like stress, and in extreme situations, total burnouts. It also leads to other health related problems.
4. Movement for higher salary is also common among the younger professionals. There is no shortage for organizations who are looking for talented employees and who are ready to shell out a hefty salary for a talented person. Other lures like better job opportunities, higher posts and overseas assignments are also major factors in the attrition rates.
5. Not taking proper care during the recruitment and selection process and not taking proper care to fit the right person to the right job also breeds dissatisfaction among the employees.
6. Bad or opaque policies from management on issues of succession planning and promotion, appointments for senior positions also is a major factor which makes the organization lose out on the talented employees.
7. The professionals have different aspirations at different times of their career. During the initial years, they have good salary and foreign assignments. Next on the list is working on cutting edge technology. More seasoned professionals look for learning opportunities. So employees tend to move to those organizations which provide them with means to fulfill their aspirations. Retaining the present employees is of the foremost importance to the organizations because; the company would have already incurred heavy costs in the form of training and development. Now if the organization has to look for a replacement for the employee who has left, it involves a lot of costs like - hiring costs, training costs and the induction costs. Also it takes some time for the new employee to adjust to the new work environment. During this time the productivity of the employee will be low. The HR department will have to fit the new employee into a proper role in the organization. Apart from causing the company a monetary loss and breaks in their day-to-day operations, attrition contributes to knowledge transfer, which is a great loss and adversely affects business.
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40 Opportunities should also be provided to the employees to achieve their personal goals.
Recognition of Merit:
It is highly motivating for any person if his talent is recognized and is suitably rewarded. One way is providing them with salary commensurate with their performance. Promotions and incentives based on performance are another way of doing it. Another way is by providing them with challenging projects. This will achieve two objectives - it makes employee feel that he is considered important (a highly motivating factor) and gets the work done in an efficient manner and brings out the best in the employee.
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Thus the domain of talent management focuses not only on development of individuals intrinsic capacities, but also on culture building and change management to provide the other elements listed above for manifestation of talent into performance.
Heightened competition for skilled workers. Impending retirement of the baby boomers. Low levels of employee engagement. Acknowledgement of the high cost of turnover. Arduous demands of managing global workforces. Importance of succession planning. Off shoring and outsourcing trends.
This requires new thinking and a new mission to achieve business success. These factorscoupled with the need to align people directly with corporate goalsare forcing HR to evolve from policy creation, cost reduction, process efficiency, and risk management to driving a new talent mindset in the organization.
42 One important distinction is the evolution of the difference between tactical HR and strategic talent management. Transactional HR activities are administrative overhead. Talent management is a continuous process that delivers the optimal workforce for your business. In this new modelinstead of being the owners of processes, forms, and complianceHR becomes the strategic enabler of talent management processes that empower managers and employees while creating business value. With this view, 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. Anecdotally, talent management is often defined as performance management, incentive compensation, or talent acquisition. Talent management is also often confused with leadership development. Although leadership development is a crucial function of your organization, focusing on it exclusively is a legacy of last century. Our modern service and knowledge economies in the talent age require a broad and holistic view. A high performance business depends on a wide range of talent. Taleos graphical representation emphasizes the mandate of talent management to respond to business goals and consequently be the driver of business performance. Talent management is depicted as a circularnot a linearset of activities.
43 rely on Taleo solutions and services to assess, acquire, develop, and align talent with business objectives while significantly reducing process costs, improving quality of hire, reducing risk, and achieving higher levels of performance. Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of successful talent management practices:
The key enabler of any organization is talent. The quality of your people is your last true competitive differentiator. Talent drives performance.
Talent management requires strong executive support, along with systems and processes all directed towards having the right talent doing the right work at the right time. Thats when talent truly drives higher business performance.
Indirect implementation of Talent Management in Company Ltd., Nasik Works. By following Steps:
Performance appraisal
Career Planning
Succession Planning
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(2)
(3) (4)
(5)
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Purpose Performance appraisal aims at attaining the different purpose. They are: (1) To create and maintain a satisfactory level of performance. (2) (3) (4) (5) (6) (7) (8) To contribute to the employee growth and development through training self and management development programs. To help the superiors to have a proper understanding about their subordinates. To guide the job changes with the help to continuous ranking. To facilitate fair and equitable compensation based on performance. To facilitate for testing and validating selection tests, interview techniques through comparing their scores with performance appraisal ranks. To provide information for making decisions regarding lat off, retrenchment etc. To ensure organizational effective through correcting employee for standard and improved performance, and suggesting the change in employee behavior.
b)
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Uses of Performance Appraisals: Performance Improvement: Performance feedback allows the employee, manager, and personnel specialists to intervene with appropriate actions to improve performance. Compensation Adjustments; Performance evaluations help decisionmakers determine who should receive pay raises. Many firms grant part or all of their pay increases and bonuses based upon merit, which is determined mostly through performance appraisals.
Placement Decisions: Promotions, transfers, and demotions are usually based on past or anticipated performance. Often promotions are a reward for past performance. Training and Development; Poor performance may indicate the need for retraining. Likewise, good performance may indicate untapped potential that should be developed. Career Planning and Development: Performance feedback guides career decisions about specific career paths one should investigate. Staffing Process Deficiencies: Good and Bad performance implies strength or weakness in the personnel departments staffing procedures.
Informational Inaccuracies: Poor performance may indicate errors in job analysis information, human resource plans, or other parts of the personnel management information system. Reliance on inaccurate information may have led to inappropriate hiring, training, or counseling decisions. Job Design Errors: Poor performance may be a symptom of ill-conceived job designs. Appraisals help diagnose these errors.
Equal Employment Opportunity: Accurate performance appraisals that actually measure job related performance ensure that internal placement decisions are not discriminatory. External Challenges: Sometimes performance is influenced by factor outside the work environment, such as family, financial, health, or other personal matters. If uncovered through appraisals, the human resource department may be to provide assistance.
48 Feedback to Human Resources: Good/bad Performance throughout the organization indicates how well the human resource function is performing.
Modern
1) Behaviorally anchored rating 2) Assessment centers 3) Human Asset accounting method 4) Management by Objectives 5) 360 Performance appraisal
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Who Appraise
Performance appraise by Head of the department or from the superior. They did not conduct performance appraisal on officers level it conduct only on officers basis. In Company Performance is appraising by head of the department, Supervisor, manager, etc.
Process:
Head of the department submit one copy of performance appraisal to HR Department and discuss with the employee whose performance is down. One copy of performance appraisal report is attached to that employees personnel file as a record. If that employees performance is going down then head of the department can talk with that employee regarding increase performance. Even Hr Manager also should talk with that employee to know his problem and HR Manager should motivate that employee to increase performance. Employees increment is depend upon there performance. Head of the department or HR manager may stop increment of employee regarding low performance.
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Career Planning.
Career planning generally use to retain skilled employee. They can find out skilled employee for skilled employees career planning from performance appraisal report.
Succession planning:
From performance appraisal Report Company can select candidate to make succession planning.
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Definition:
1) Edwin Flippo define a career as a sequence of separate but related work activities that provides continuity, order and meaning in a persons life. 2) Wreather and Davis defined various terms of career planning as given below: A career path is the sequential pattern of jobs that form a career (as per figure). Career Planning is the process by which one selects career goals and the path to these goals. Career development is these personal improvements one undertakes to achieve a personal career plan. 3) Career management is the process of designing and implementing goals, plan and strategies to enable the organization to satisfy employee needs while allowing individuals to achieve their career goals.
53 Human resource managers must understand the issues that individuals face throughout their careers. A study of career development theories, life development theories and interrelationship among career stages and life stages will provide and understanding of the issues that the individual face. Career and life stages are closely related as both are linked to age and cultural norms.
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a) Analysis of individual skills, knowledge, abilities, aptitudes etc. b) Analysis of career opportunities both within and outside of organization. c) Analysis of career demand on the incumbent of skills, knowledge, abilities, aptitude, etc., and in terms of qualifications, experience and training received etc. d) Relating specific ob to different career opportunities. e) Establishment of realistic goals both short term and long term. f) Formulating career strategy covering areas of change and adjustment. g) Preparing and implementing action plan including acquiring resources for achieving goals.
Successful Matching
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Mismatching
For organization 1) The efficient policies and practices improve the organizations ability to attract and retain highly skilled and talent employees. 2) A proper Career Planning ensures that the woman and people who belongs to the backward communities get opportunities for growth and development 3) It continuously tries to satisfy the employee expectations and such as minimizes employee frustrations.
56 4) By attracting and retaining the people from different cultures, enhances cultural diversity. Protecting employees interest result s in promoting organizational good will.
5)
Promotion
57 In career planning, promotion is also a one part. To retain the skilled employee. Company makes promotion of this kind of employee.
Transfer of worker:
They search about interest of employees in his work profile. And then they decide whether transfer of worker is suitable or not. Or change in work profile is suitable or not.
Promotion:
They decide about employees promotion if required and his training They analyses whether training is required for employee or not. As per the need of organization HR head make his career planning for promotion.
Job enrichment
Most of the time company checks job enrichment of employee, to check capacity of work within a given time as well as their skills also. Job enrichment is helpful to increase skills in employee.
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Introduction
Success, growth and survival are the most important responsibilities of the top management of the organization. Succession planning is the activity connected with the succession of incumbents to fill the key positions in the organizations hierarchy as and when a vacancy arises. Succession planning focus on identification of vacancies and locating the probable successor. It provides the succession chart in respect of a particular position. The succession planning ensures the availability of the right kind of the management staff at the right time and in the right position in order to provide for continued organizational vitality and strength.
For Example:
Suppose, Mr. A will retire within some days, from the post of Production Manager Then HR manager should place right person who will able to carry liability of that post. For selection of right person as well as to give idea about job to candidate, mostly HR Manager prepare planning, like: HR Manager will place candidate under supervision of Mr. A to learn difficult things of job, or he will give training to that candidate or he will search a candidate who already have idea about job profile of Production Manager, i.e. Succession planning. In short when any employee or candidates leave job, HR manager should prepare plan to place correct candidate on that post.
What is need for succession planning: To make succession planning following points are important. 1) 2) 3) 4) 5) Job Information Job analysis Job profile Qualification and Experience define. Etc. Availability of candidate
59 6) Analysis of Selection process Benefits of Succession planning: 1) Facilitates communication & knowledge management 2) Uninterrupted work productivity 3) Leadership continuity 1) Custom designed training programs 2) Candidate can understand job easily. 3)
NUMBER OF POSITIONS:
All but the smallest of organizations have a substantial number of positions critical to long-term performance, whether these involve leadership skills or technical expertise that would be difficult to quickly replace. Comprehensive succession planning must incorporate all such positions; yet, as the number of positions grows so too does the administrative burden.
STRATEGIC ALIGNMENT:
Succession plans need to reflect long-term organizational goals and strategies. Companies must give thoughtful consideration not only to the plan's design and implementation, but also to sustaining the process over time. As strategies and goals shift, so too must the plan if the organization is to recruit and develop the workforce its future success will require.
ORGANIZATIONAL COMPLEXITY:
Conglomerate, geographically dispersed, multi-industry, and other complex organizational forms significantly increase the challenge of succession planning.
60 Often, higher-level positions require well-designed cross training to inculcate the unique knowledge and skills success in the organization requires.
ORGANIZATIONAL CHANGE:
As companies evolve in response to marketplace threats and opportunities, the skills, talents, and expertise they will need to thrive evolve, as well.
The larger and more complex an organization, the more challenging it is to maintain an effective and efficient succession planning process. Yet, by definition, the best process is the one that enables the firm to identify the best candidate in least amount of time and at the lowest cost.
Having this process in place is vital to the success of the organization because the individuals identified in the plan will eventually be responsible for ensuring the company is able to tackle future challenges. These 'high potential' candidates must be carefully selected and then provided training and development that gives them skills and competencies needed for tomorrow's business environment. Another reason its important is because these high potentials will one day become the leaders of the Company. This is why their development needs to incorporate a broad range of learning opportunities in your organization. The individuals should also be exposed to as much of the working environment as possible so that they gain a good understanding of what the company requires to remain successful.
Officers level:
At officers level Succession planning conduct by following methods.
1) Personal meeting
61 Head of the department take the personnel meeting with the employee who is going to retire because he wants to know that employees opinion about to place new right candidate on his place. 2) Employee dialogue: Employee dialogue is a dialogue between employee (who will go to retire) and head of the department, regarding place new candidate at his post, which have ability to fulfill requirements of job. 3) Opinion of subordinate: The head of the department should consider the opinion of other staff or subordinate also.
62 employee and he should complete that task within a given time e.g. Give a presentation on specific topic within half an hour. Work of the Committee: Mainly committee observes how employee can survive in specific situation. How he can handle situation.
They try to find out the tendency of employee. They try to find out method of thinking of employee. In employee assessment they consider only an officers career planning.
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65 Benefits to the individual which in turn ultimately should benefit the organization Helps the individual in making better decisions and effective problem solving Through training and development, motivational variables of achievement, growth, responsibilities and advancement are internalized and operationised It helps to an individual to handle stress tension or conflicts. It provides information to improve leadership knowledge. Develops a sance of growth in learning Improves morale Improves impersonal skills
66 Training is also necessary when the existing employee is promoted to the higher level in the organization and when there is some new job or occupation due to transfer. Training is also necessary to equip the old employees with the advanced disciplines techniques or technology. The need for training also arises to: Increase productivity Improve quality of the product / Services Help a company to fulfill its future personnel needs. Improve organizational climate. Improve health and safety. Prevent obsolescence Effect the personnel growth Minimize the resistance to change.
Stage 2
Stage 3
Implementation.
Stage 4
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Methods of training
On-job methods
Off-job methods
Job relations Coaching Job instruction Training through Step by step Committee assignments Internship training
Lectures/Conferences Films Simulation Exercise Cases Programmed instructions Audio visual methods Computer based training E-Learning.
The most widely used methods of training used by organizations are classified into two categories: On-the-Job Training & Off-the-Job Training. ON-THE-JOB TRAINING Its given at the work place by superior in relatively short period of time. This type of training is cheaper & less time-consuming. This training can be imparted by basically four methods: Coaching It is learning by doing. In this, the superior guides his sub-ordinates & gives him/her job instructions. The superior points out the mistakes & gives suggestions for improvement. Job Rotation: In this method, the trainees move from one job to another, so that he/she should be able to perform all types of jobs. E.g. In banking industry, employees are trained for both back-end & front-end jobs. In case of emergency,
68 (absenteeism or resignation), any employee would be able to perform any type of job. OFF THE JOB TRAINING: It is given outside the actual work place. Lectures/Conferences:This approach is well adapted to convey specific information, rules, procedures or methods. This method is useful, where the information is to be shared among a large number of trainees. The cost per trainee is low in this method. Films: It can provide information & explicitly demonstrate skills that are not easily presented by other techniques. Motion pictures are often used in conjunction with Conference, discussions to clarify & amplify those points that the film emphasized. Simulation Exercise: Any training activity that explicitly places the trainee in an artificial environment that closely mirrors actual working conditions can be considered a Simulation. Simulation activities include case experiences, experiential exercises, vestibule training, management games & role-play. Cases: Present an in depth description of a particular problem an employee might encounter on the job. The employee attempts to find and analyze the problem, evaluate alternative courses of action & decide what course of action would be most satisfactory. Experiential Exercises: Are usually short, structured learning experiences where individuals learn by doing. For instance, rather than talking about inter-personal conflicts & how to deal with them, an experiential exercise could be used to create a conflict situation where employees have to experience a conflict personally & work out its solutions. Vestibule Training: Employees learn their jobs on the equipment they will be using, but the training is conducted away from the actual work floor. While expensive, Vestibule training allows employees to get a full feel for doing task without real world pressures. Additionally, it minimizes the problem of transferring learning to the job.
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Role Play: Its just like acting out a given role as in a stage play. In this method of training, the trainees are required to enact defined roles on the basis of oral or written description of a particular situation.
Management Games: The game is devised on a model of a business situation. The trainees are divided into groups who represent the management of competing companies. They make decisions just like these are made in real-life situations. Decisions made by the groups are evaluated & the likely implications of the decisions are fed back to the groups. The game goes on in several rounds to take the time dimension into account. In-Basket Exercise: Also known as In-tray method of training. The trainee is presented with a pack of papers & files in a tray containing administrative problems & is asked to take decisions on these problems & is asked to take decisions on these within a stipulated time. The decisions taken by the trainees are compared with one another. The trainees are provided feedback on their performance.
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Chapter: 9
Introduction of Data Analysis.
The word Analysis means the process of breaking down a Complex set of facts into simple element while Interpretation stands for the explanations which analyzed the statements and also make out or bring out the meaning of creative work.
73 Analysis and Interpretation are done according to department wise and according to questionnaire. This analysis and Interpretation will definitely help to the company for the future strategies. Following are the analysis and Interpretation of the results. These all analysis is imagine for general company. It is very necessary to understand the psychological tendency of employee. Because it is a quietly subjective so it will slightly deviate the opinion of the employee. The Department of the company where I conduct survey. There are 100 employees in each department. Total employees are 500. 1. Purchase 2. Finance 3. Production 4. Packing and dispatch 5. Research and Development
Table No 9.1
Survey in Purchase Department: Option Responses Yes 70 No 30 (Source: Primary data: Questionnaire)
Percentage
70 30
74
30%
Yes
No
70%
Responses 72 28
Percentage 72 28
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Graph No 9.2
28%
Yes
No
72%
Option
No
Responses 65 35
Percentage
65 35
76
65%
Highlly Satisfied
Satisfied 35%
Responses
Percentage
86 14
86 14
77
78 Yes No
72 28
73 15
28%
Good
Bad
61 52 62
39 48 38
79 R&D Dispatch
45 68
55 32
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Purchase Finance Production R & D Dispatch Bad
Good
Figure No. 9.6/7(Source: secondary data average performance appraisal report of employee.)
Good
Bad
75 90 85 80
25 10 15 20
80 Dispatch
70
30
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Purchase Finance Production R & D Dispatch Good Bad
Figure No. 9.7/7(Source: secondary data from average performance appraisal report of employee.)
INTERPRETATION: In above both diagram we can compare performance of all department, before implementing concept of talent management and after implementing concept of talent management. We can observe that, performance of all departments is increase after implementing talent management concept.
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Remark from Data of Analysis = Yes OR X = No Quality of the Product increase. Ratio of employees to left job is decrease, and new
candidate are increase in organization. Employee getting satisfaction from the job Complaints of employee reduced.
Above table show that all the criteria set for Company, to show effective talent management process, which is helpful to employee as well as organization. Therefore project is proved the its Null hypothesis & disprove the alternative hypothesis.
Null Hypothesis:
Employee taking benefits from Talent Management System Employee can retain successfully for the benefit of organization Employees performance increased by talent management Employee turnover of organization affected by Talent Management Procedure
Conclusion
Talent Management for the HR Community is an opportunity for HR professionals to develop in their areas of expertise and in their careers. A strong HR Community helps create a strong public service. The goal of talent management is to better understand our people in the HR Community so we can support professional and career development and align individual needs and goals with the business focus of HR. We also want to ensure that we as a Community have the agility to develop
83 people so that we are meeting the future needs of the community and government and our clients. This first broad sweep of the Community provides a foundation on which to ensure leadership continuity, knowledge transfer and service continuity. The initial implementation resulted in a number of important human resource priorities and strategies, such as performance management, leadership and management development, attraction and retention, employee learning and development and culture, all of which are supported by the HR Strategy for the HR Community. The critical next step in the process is the implementation of the Talent Management Plan for the HR Community. Individually, members of the community and their managers should work together to move forward individual career development plans. The HR Community must work together to promote a talent management mindset, commit to supporting development as a professional group, and integrate talent management into the daily fabric of doing business. 1) Recruitment We understand it help to ensuring the right people are attracted to the organization. 2) Retention We understand it help to developing and implementing practices that reward and support employees. 3) Employee development Talent Management ensuring continuous informal and formal learning and development. 4) Performance management Talent Management is specific processes that nurture and support performance, including feedback/measurement. 5) Workforce planning It use to make planning for business and general changes, including the older workforce and current/future skills shortages.
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1) Organization should make research to avoid talent drain. 2) HR Department should interact and expose inbound employee
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3) Perform various task to motivate employee for work, because various employee can not work with motivation they just do it, because organization pay for them.
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Company Workshop
Name of Employee:
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Designation:
Joining Date:
Qualification:
Questionnaire:
1) Do you feel satisfaction while you complete your work? Yes No
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Yes
No
Books:
1) Human Capital Management ----- Garry Desslar (P 542) 2) Human Resource Management ---- Himalaya Publications (P 386) 3) Human Resource Management --- Oxford Higher education ( p74) 4) Human Resource Management System ----- Prof. Mr. Subbarao (P, 243)
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Web Sources:
1) Oneclickhr.com 2) Weckipedia.com 3) Google.com 4) Reddiff.com