Sub: MU0017: Talent Management Reg No.

: 521111726

Question 1- Explain the need for talent management? Answer: Workforce cost is the major portion of resources spends for most organisations. Automation and analysis of the recruiting and hiring processes provides the immediate workforce needs and insights required to significantly improve the bottom line. Performance management provides the ongoing processes and practices to maintain a strong workforce. Since many competitive business factors have become commoditised, talent is the ultimate driving force behind the business success and creates value. Top organisations rely on Talent Management 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. It is worthwhile to express the fundamental significance of successful talent management practices as follows: The key enabler of any organisation is talent. The quality of the people is the 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. Talent management involves individual and organisational development with respect to a varying and complex operating environment. It also includes the creation and maintenance of a supportive, people oriented organisation culture.

Question 2 - List the key elements of talent management system. Explain any two of them. Answer: Talent management practices and techniques have evolved over time in response to a changing workplace. The most effective talent management processes are organisationspecific and react to an organisations distinctive business and human capital framework. Talent management includes a range of interdependent processes and procedures that need to be properly integrated. The organisation will not achieve the desired level of human capital performance if talent management processes do not operate as a unified group. The key elements of Talent Management System are explained as follows: Selection: Selection is the process of choosing a candidate amongst a number of probable candidates. Recruitment and Retention has become a big challenge for organisations due to the continuing global talent shortage, the changing worldview of work by new generation employees entering the workforce, and the ever increasing evidence that poor recruitment decisions have a direct impact on the bottom line. Recruitment process that is not merit-based and has poor reliability and validity are a burden to an organisation and can even expose the company to discrimination claims. Poor hiring choices can affect the organisation in additional recruitment costs, training and orientation costs, loss of time, lost opportunity, lost revenue, loss of competitive advantage, tarnish image and reputation. It is about recruiting the right people in the right place at the right time. Organisations need to filter their attraction, recruitment and selection approaches to ensure they have the right talent on board to enable them to remain competitive. A global view that includes a diverse workforce is critical. Capability development: Customised improvement opportunities for key talent are seen as an essential component for motivation and retention of these people. In the present scenario, developing the current employees is a more cost effective and efficient means of maintaining internal talent pools rather than recruiting new people and wasting vital resources on their training. Career growth also has a major impact on job satisfaction and commitment, to an organisation that relates directly to the retention of dynamic employees. Both high potentials and core contributors should be given enough opportunities to develop by the internal talent management in order to maintain operational effectiveness and output. Key performers and core contributors require different growth experiences that should be modified accordingly for maximum profit. Committed leaders are required to emphasise the idea on both groups given their competing business priorities. The Talent Development structure adopted by an organisation needs to support the talent capabilities required for the future and needs to be able to blend with ongoing changes. Good leadership quality in a global and increasingly diverse workplace is a highly sort after competence, and this must be embedded into any comprehensive development program. Other elements will be established by the business strategy.

Question 3 - List and explain the Talent Selection processes? Answer: Before appointing an applicant for a job position, a company follows a step-by-step hiring process. This process has three important phases which include planning, recruitment, and employee selection. Steps involved in recruitment process: There are five major steps involved in recruitment process which include: 1. Online application. 2. CV/Resume screening. 3. Initial interview. 4. Technical and competency interviews. 5. Job offer These Steps which are involved in recruitment process can be explained as follows: 1. Online application: During this phase, the desired candidate applies for a job online or on company website. 2. CV/Resume screening: This is the second stage wherein the CV (curriculum vitae) of the applicant is screened by hiring managers to ensure if the candidate is fit enough for the post. 3. Initial interview: This is the most crucial stage wherein the candidate is asked to take up a written test. 4. Technical and competency interviews: Once the candidate clears the written test, the next stage would be technical competency round. This stage involves the recruiting managers ensuring if the candidate possesses required technical skills suitable for the position which can be in the form of either face-to-face questioning or a written test. 5. Job offer: This is the last stage of the interview process wherein the candidate receives an offer letter from recruiting manager after he clears all the interview rounds. Recruitment guidelines Below are some guidelines which would ease the recruitment process and also help in selection instructions, recruitment policies, hiring strategies, positive action and diversity goals, and problem solving. It is very essential to consider the following information in recruitment and hiring process: Preferential rehire policy: Preferential rehires who fulfil the minimum requirements and qualifications of a position are considered before any other applicants. Testing and interviewing: Applications are made accessible for online review within two working days of the closing date. The employment agent would check and approve the selected candidates before the interviews are scheduled. Reference checks: A prior consultation and authorisation by the employment agent is needed for reference checks to be done. Candidate assessment: Candidate assessments are done within the online employment system for each interviewee, and also providing reasons for selection/non-selection of candidates. Job offers: Without a prior consent by the employment agent, hiring department cannot make any job offers or hiring assurance. Notification procedure: Hiring department is accountable for notifying the unsuccessful candidates.

Question 4 - Explain the components that help in developing an adaptive talent strategy. Answer: The three main components that help in developing an adaptive talent strategy include: Knowing about the talent possessed by a person Visibility into the companys active workforce must be simply available for recruiting purpose. External recruitment mainly informs about the strengths, weaknesses, and gaps. The talent acquisition leaders can successfully develop a recruitment strategy and direct assets when they have this information. This is done by joining with their organisational growth peer to detect the required skills and abilities to support the organisation. An internal talent management system helps in delivering many benefits. One of the benefits is competency to the talent planning process. It also eases the progress of talent throughout the organisation to meet the requirements of workforce and businesses. The internal gaps must always notify the external recruitment and talent processes to help in smarter investments and decisions when pursuing new talent. Development of a talent plan Developing a talent plan is an important phase in recruitment process. There is a great chance that organisations may experience significant talent loss rather than functioning as an adaptive, value-oriented talent strategy when there is no clarity with the below-mentioned questions. Given below is the list of some important questions that are asked in forming a talent plan to help the recruitment process and they are: How the organisation thinks about talent today and in the future? Which positions are suitable for a particular geographic location? Which role or position is flexible to pursue the best talent despite of location? Where is flexibility introduced in workforce through part-time, contingent and job share roles? When do you build and when do you acquire talent? How do you broaden the reach by recognising the workplace outside the organisation? How do you initiate the combined teamwork to create new ideas and concepts and drive innovation? What is the plan for knowledge transfer? How is preparation done for a growing workforce with different needs? How is supply and demand for the talent visualised that is required to support the strategic business directives? Which functional areas and roles have recruiting core competency? Where is recruitment to a third party outsourced? Influence of technology Other than an internal talent management system, a CRM (Candidate Relationship Management) tool plays a crucial role in developing successful recruiting technology solutions. CRM helps the recruiting functions ability to administer effective communication, builds strong bonding, and combines modern sourcing capability. It also gives visibility into the readiness of talent pipeline, which enables to maintain an adaptive talent strategy. It also helps in providing better assistance to the business partners and also assists in deciding on distribution of resources to external recruitment. The advantage to the organisation is better support of the strategic business directives. This is achieved by improving arrangement, active interaction early enough in the planning process, and expecting the types of talent required. The benefits to the talent function include: 5

Enhanced clarity around strategic business directive. Improved ability to be more skilful in developing and executing a supporting strategy. Increased capability to provide greater value to the organisation with significant ROI (Return on Investment). Reduced third-party recruitment fees. Decreased time-to-hire. Increased recruiter efficiency. Reduced marketing / job posting expenses. Increased efficiency in internal talent movement.

Question 5 - (a) What is talent engagement?

(b) What are the objectives of talent engagement? Answer: (a) What is talent engagement?
Talent engagement is a process wherein employees work by putting in more efforts as their morals and interests are associated with that of the organisation. There are many examples of talent engagement in fields like service/hospitality where you to see the dedicated employees give excellent service out of true commitment. According to David C. Forman1, Chief Learning Officer of the Human Capital Institute Talent Engagement represents the extent to which the workforce identifies with the company, is committed to it and provides discretionary effort so that it can be successful. Engagement is a key leading indicator for high performance workplaces, improved employee productivity and subsequent turnover. Talent is considered to be the most essential asset of an organisation. The level of productivity of the organisation increases if the labour force is efficient and competent and therefore decides the efficiency of organisational systems and processes. Any organisation, which anticipates growth and success, must consider the talent retention as an issue and give it a top priority. If not, it results in organisational slowdown and steady loss. It is vital for an organisation to think about talent retention approaches even at the times of financial slowdown, which helps the organisation in retaining the talent and using it sensibly. HR professionals have found out many concepts including talent assessment, talent approval, and talent delight to retain talents. The latest among those concepts is "Talent Engagement", a concept which is almost similar to a level to which a talent is emotionally related to the organisation and the employees being very obsessive about their work. Talent engagement is an extent to which an employee is committed and involved towards his/her work in the organisation and its values. Talent engagement is a significant element of an individual and organisational achievement. Leadership quality and organisational features strongly control talent engagement. The talent engagement is considered to be a theoretical study. It is planned to verify if the possibility of engaging talents in the work can be predicted during their initial stages of work application. (a) What are the objectives of talent engagement? The objectives of talent engagement include: Creating an emotional assurance and strong two-way rapport between the employees and the organisation. Expecting clear performance and a clear return from the company, for example, working atmosphere, growth, incentive, career opportunities, so on, which enable employees to link between their contribution and the growth of the company. Motivating and allowing people to achieve their goals and reward them based on their contribution and then provide them with excellent career opportunities. Developing a learning culture which promotes personal growth and professional quality and supports ethics of professionalism, modernisation, practicality, team spirit, and reliability, so on. Admiring and valuing individuals, their diversity and encouraging them to balance their professional and personal lives.

Question 6 - Explain the role of HR in talent management. Answer: Talent Management involves identifying the right talents and developing those talents into personnel competencies, which is required by the organisation to have highly efficient and high performance human capital. In the recent years, as the demographics of workforces have changed, organisations of all size consider talent management as a crucial activity. The importance laid on talent management has increased the pressure on HR department in an organisation. The HR acts as a backbone for Talent Management. The HR is responsible for the training and development activities of an employee in an organisation. When it comes to talent management the HRs role is concerned with enhancing the development, attraction, and retention of their employees. The HR is responsible to establish talent management initiatives. In an organisation, apart from transactions and administrations, the HR is burdened to take more responsibility to become a talent expert. The important areas of talent management that forms a part of HR planning are: Providing value for individuals by creating and maintaining an organisational culture. Identify the needs of an organisation. Training and developing employees to meet the organisational needs. Recruiting talented people, who are capable of providing further job needs, Conducting and managing HR activities to support talent the development of talent in an organisation. It is the responsibility of the HR to view talent assets of an employee at an individual level. This helps the HR to know what skills, experience, and training each employee brings to the table or needs to acquire. For HR to evaluate the existing skill sets in the industry, they first need to understand how to go about filling current and future skill gaps. This is possible if talent is viewed enterprisewide at an aggregate level The crucial role of an HR is to attract talented personnel. These days the improvement in the economy and retirement of Baby Boomer creates competition for newer talented personnel. As majority of the employees in an organisation look out for new and better employment opportunities, the HR is responsible for retaining the employees. This can be done by following successful employee retention strategies. The HR are responsible for providing opportunities for employees who prefer to develop their skills and talent and accept challenging work along with compensation. The employees prefer to grow in their career. This can be done by the HR by organising programs for professional and entry- to mid-level managers.