TALENT & KNOWLEDGE MANAGEME IS IMPORTANTT.pptx

TKM

1. INTRODUCTION TO TALENT MANAGEMENT

2. Talent management Talent management can be defined as  a deliberate approach implemented to recruit or hire, develop and retain people with required aptitude or skills to meet the present and future goals or needs of the organization .

3. CONCEPT Talent management is  the attraction, selection, and retention of employees, which involves a combination of HR processes across the employee life cycle . It encompasses workforce planning, employee engagement, learning and development, performance management, recruiting, onboarding , succession and retention. The term was coined by  McKinsey & Company  following a 1997 study.

4. Objective of talent management The primary objective of the process is  to bridge the gap between the talent present in the organisation and the talent required to accomplish a goal . This requires developing a sound integrated talent management plan that not only aids individual employee growth but also the growth of the company as a whole.

5. importance of talent management Attract top talent  . Employee motivation . Continuous coverage of critical roles.  Talent management equips companies with the tasks that require critical skills to plan and address the important and highly specialized roles in the workforce to its employees. This means that the company will have a continuous flow of employees to fill critical roles to help companies run their operations smoothly and avoid extra workload for others, which could lead to exhaustion. Increase employee performance . Engaged   employees  Talent management allows companies to make systematic and consistent decisions about the development of staff, which guarantees the employees’ skills and development. Retain top talent.  Well-structured on-boarding practices create higher levels of retention which saves the company on its recruitment and performance management cost in the long run. Improve business performance . Higher client satisfaction . When systems are more integrated, client satisfaction rates are usually higher, since they are dealing with fewer people and their needs are met more rapidly. Investing in talent management surely is a great help for the company, now the question is, how will companies

6. FUNCTIONS

7. PROCESS Talent Management Process:-- Step 1: Specify What Skills You Need. ... Step 2: Attract the Right People. ... Step 3: Onboard and Organize Work. ... Step 4: Organize Learning and Development. ... Step 5: Hold Performance Appraisals. ... Step 6: Strategize to Retain Your Best Talent. ... Step 7: Plan for Successions.

8. TALENT MANAGEMENT PROCESS

9. IDENTIFY TYPE OF TALENT Identify What You Love to Do. Write down a list of activities you enjoy. ... Know Your Interests. ... Identify Previous Successes. ... Take Some Tests. ... Interview Someone. ... Know Your Weaknesses. ... Start Putting it Together. ... Practice, and Practice Well.

10. Talent can be of various types— God gifted / natural talent by birth. Skill based talent which you have learnt (after birth) through training & practice. Unique talent. Physical talent—based on body. Intelligence based talent. Creativity based talent. Performance based talent. Aptitude based talent.

11. TALENT GAP The talent gap is  the space between your employees' current level of talent, skill, or competencies and where you'd need them to be to meet your organization's goals . This often happens because technology advances so quickly, it's hard for employees to keep up—especially when they're not actively trying

12. Talent gap simply refers to a  lack of skilled personnel in an organization . Every organization occasionally faces the tough issue of talent gap.  ANALYSING TALENT GAP :- Step 1: Plan. You can perform a skills gap analysis on two levels: ... Step 2: Identify important skills. Some employers say they have difficulty filling jobs because of skill gaps. ... Step 3: Measure current skills. To measure skill levels, you could use: ... Step 4: Act on the data

13. STRATEGIES TO FILL TALENT GAP Following are some of the strategies that can help reduce the talent gap in an organization − Develop a Culture of Talent Development Organizational culture should be so nurtured that it will facilitate to retain, sustain, and grow talent. Act as a Role Model Be transparent about your own needs to learn, develop and share. Embrace openness. Leaders are never more powerful than when they are shown to be learning. Reinforce the Value of Learning Go beyond the preliminary conversation about goals. Ask employees what they want to accomplish and what they feel their gaps are.

14. STRATEGIES TO FILL TALENT GAP Build Sustainable Processes Managers should coach and develop their people. Every employee knows what areas they need to improve, and for those with particularly high potential, career tracks should be developed that give them a sense of a sustainable relationship with the organization. Strengthen Shared Values Every employee should be able to connect their daily work productivity and responsibilities to the values of the organization. They need to understand the job and the reason for completing the job successfully. Leverage Problems as Opportunities Problems in the workplace should be seen by employees as opportunities to develop their skills and hone their talent for future performance. Learning the causes and stresses inherent in the problems can be helpful for both the organization and the employees.

15. TO PREVET TALENT GAP Learn How To Identify Skill Gaps. The first step towards eliminating skill gaps is to identify them. ... Teach Employees To Train Themselves. ... Keep An Eye On Your Competitors. ... Inject New Talent Into Your Company. ... Embrace Continuous Learning.

16. TALENT V/S KNOWLEDGE

17. Main Elements of Talent Management Talent acquisition –recruiting, negotiating, and onboarding new employees Talent retention –maintaining staff once hired Performance management –evaluating staff and subsequent changes in role or salary Career development –providing opportunities for professional growth Offboarding & Succession Planning –processing individuals that leave your employ, initiating the hiring cycle, and making short-term workflow adjustments until a replacement is found

18. Consequence of failure in managing talent? Failing to enhance employee productivity can result in  unmet business targets, lower profits and higher HR costs  as organisations scramble to replace less productive workers. It can also foster an organisational culture lacking in performance-oriented work processes and systems, further dampening performance levels