Talent management

& talent retention

through employee
engagement

Management Research Program INTERIM

PRESENTATION
 Interim objectives
To learn :-


 what is talent?

 What is talent management?

 What is the need for talent management?

 Benefits of strategic talent mgmt?

 Evolution of HR function?

 Talent mgmt & corporate strategy?

 Talent mgmt process?

 Case Analysis:- THE GE WAY TO TALENT

MGMT
1.Talent management


“ AN IDEA CAN TURN TO DUST

OR MAGIC, DEPENDING ON THE
TALENT THAT RUBS AGAINST IT.
”
 - WILLIAM BERNBACH
WHAT IS TALENT?

TALENT
=COMPETENCE X
COMMITMENT X
CONTRIBUTION.
 coined by(Ulrich, Allen, Brockbank, Jon Younger, & Mark Nyman)


C = COMPETENCE

MEANS THE KNOWLEDGE,
SKILLS, AND VALUES THAT
INDIVIDUALS REQUIRE FOR TODAY’S
AND TOMORROW’S JOBS.


 -(ABLE TO DO THE WORK)

C= COMMITMENT

MEANS THE LEVEL OF
EMPLOYEE ENGAGEMENT.
 IS WHEN EMPLOYEES WORK ON
TIME, WORK HARD AND DO WHAT
IS EXPECTED OF THEM.
 VOI2C2E
 V – VISION (a sense of direction)
 O- OPPORTUNITY ( an ability to grow)
 I – INCENTIVES( fair wage for work done)
 I – IMPACT (an ability to see the outcome of
work done)
 C – COMMUNITY ( peers, bosses, and leaders
who build a sense of shared purpose,
identity, & experience)
 C – COMMUNICATION ( knowing what is going
on & why)
 E – ENTREPRENEURSHIP (arrange of choices
about terms & conditions of work)

C = CONTRIBUTION
 FINDING MEANING & PURPOSE IN
WORK.

NEED OF TALENT
MANAGEMENT
 Talent shortage
The Old Reality The New Reality
 PEOPLE NEED COMPANIES.  COMPANIES NEED PEOPLE.

MACHINES, CAPITAL AND TALENTED PEOPLE ARE THE



GEOGRAPHY ARE THE COMPETITIVE ADVANTAGE.

COMPETITIVE ADVANTAGE.
BETTER TALENT MAKES SOME BETTER TALENT MAKES A HUGE


DIFFERENCE. DIFFERENCE.
 JOBS ARE SCARCE.  TALENTED PEOPLE ARE SCARCE.

EMPLOYEES ARE LOYAL AND JOBS PEOPLE ARE MOBILE AND THEIR


ARE SECURE. COMMITMENT IS SHORT – TERM.

PEOPLE ACCEPT THE STANDARD
  PEOPLE DEMAND MUCH.
PACKAGE THEY ARE OFFERED.
 Talent management
 Definition :-
 “ A conscious, deliberate approach
undertaken to attract, develop and retain
people with the aptitude and abilities to
meet current and future organizational
needs.”
 “ Talent mgmt involves individual and
organizational development in response to
a changing and complex operating
environment. It includes the creation and
maintenance of a supportive, people
DEFINITION BY CIPD(Chartered Institute
of Personnel Development)


 “ Talent management is the

systematic attraction, identification,
development, engagement \ retention
and deployment of those individuals
with high potential who are of particular
value to an organization. ”
The talent management loop
 Benefits of strategic
talent management
Building a high performance
workplace.
Encouraging a learning
organization.
Adding value to the employer of
choice and branding agenda.
Contributing to diversity
management.
EVOLUTION OF THE HR
FUNCTION
 TALENT MANAGEMENT &
CORPORATE STRATEGY
 Should be closely related.
 Develop a performance culture where
individuals take responsibility for the
continuous improvement of business
processes & their own skill development.
 Fairness & Consistency must be applied in
all talent mgmt processes.
 Talent management –
demand & supply factors


 Diversity considerations must also be

taken into account to draw from the
widest pools of talent possible.
 Give importance to talent, coaching
and mobility.
 Learning and development
interventions are required at
relevant stages in a career path for
talented individuals to achieve their
maximum potential.
TALENT MANAGEMENT
PROCESS
 1.  Workforce Planning:  Integrated
with the business plan, this process
establishes workforce plans, hiring
plans, compensation budgets, and
hiring targets for the year.
 2.  Recruiting:  Through an integrated
process of recruiting, assessment,
evaluation, and hiring the business
brings people into the organization.
 3.  On boarding:  The organization must
train and enable employees to become
productive and integrated into the
company more quickly.
 4.  Performance Management:  by
 5.  Training and Performance
Support:  Here we provide learning
and development programs to all levels
of the organization. 
 6.  Succession Planning:  enables
managers and individuals to identify
the right candidates for a position.  This
function also must be aligned with the
business plan to understand and meet
requirements for key positions 3-5
years out.  While this is often a process
reserved for managers and executives,
it is more commonly applied across the
 7.  Compensation and Benefits:an
integral part of people
management. Here organizations try to
tie the compensation plan directly to
performance management so that
compensation, incentives, and benefits
align with business goals and business
execution.
 8.  Critical Skills Gap Analysis: While
often done on a project basis, it can be
“business-critical.” 
 For example, today industries like the
Federal Government, Utilities,
Telecommunications, and Energy are
facing large populations which are
What does talent management mean to
organizations
 It changes the way company is organized,
use technology, resources are allocated,
and measure what company do.
 Talent management will impact the role of
a training manager, director, or
CLO,. They may be asked to integrate
learning programs with the company’s
performance management initiative. 
 Many organizations have a new job:  The
VP of Talent Management.  This role
typically includes Learning &
Development, Performance and
Case analysis:- the ge
way


 “I want to make sure that GE is always the

Employer of Choice. This has to be a place
where people want to come to work and
where they want to stay and they come
here because we do leading – edge work.
We allow people to live their dreams in an
open and fair diverse environment. We
treat everybody with respect, the best get
paid like the best in a performance
culture.”
 - JEFFERY IMMELT, CEO, GE
INTRODUCTION
 “The most admired company”
 GE emphasized on continuous reinvention
of itself.
 Innovative talent mgmt practices- key
attribute
 Employees a major contributor to
company’s productivity & profitability.
 Hr practices aimed at high level intellectual
leadership achievement.
 Principles of organizational design based
on Managerial Talent.(1892- 1912)
 “Blue Books”
 Changing paradigm of hr
practices st
 Charles Coffin(1892 to 1912), 1 GE
President, created a rigid hierarchical
organizational structure & implemented
product departmentalization.
 President Gerard Swope (1922- 1940, 1942-
1945) emphasized on improvement of
industrial relations. Many beneficial
schemes for employees (group insurance, profit
sharing, bonus, pension, stock purchase option etc:).

 Unemployment pension to laid off

workers.
CONTINUED…………
 President Charles E Wilson(1940-1942, 1945-
50) undid changes that hampered
peaceful industrial relations.
 Ralph Cordiner (1958-1963) initiated
organizational restructuring. He
created SBUs.
 Initiatives such as MBO, SWOT, &
Strategic Planning.
 Reginald Jones (1972-1981) invested in
office automation for increased
employee productivity.
 Continued………..
 Jack Welch (1981- 2000) dismantled existing
unproductive mgmt practices, & pulled
down bureaucratic system of co. SIX
SIGMA. Spin off unprofitable businesses.
Neutron Jack.
 Jeffery Immelt (2000) transformed “hard-
driving , process- oriented co. to one
steeped in creativity & wired for
growth.”
 Talent mgmt in GE was an organized
process.
 It comprised of attraction, recruitment,
Recruitment and selection
 Policy – to recruit from leading
universities worldwide.
 Internship & co-ops programs for fresh
graduates.
 Strict criteria of selection of internees &
coops. Full- time students with
excellent academic records were only
eligible.
 Conducive working environment for
continuous learning by interaction with
co. managers & other internees.
Continued………
 Lucrative compensation packages(salary,
relocations assistance, other benefits)
depending on performance.
 Online application facility (“Careers at
GE”)
 Applicant’s profiles matched with
company’s job eligibility criteria & job
description of the position.
 45 mins interview (behavioral-based).

 Selected candidates are informed within 7

business days & called for second round
 Continued……….
 Promote- from- within policy.
 Training &
development
Focus on developing leadership
qualities.
 “ACTION LEARNING
TECHNIQUE”(training methodology)
 Reimbursement of tuition fees.

 Continuous training for KSA

development.
 “Entry Level Programs” for fresh
graduates.
 “Experienced Level Programs” for
 Performance appraisal


 Techniques based on nature of work.



 VitalityCurve, 9 Block & Accomplishment

Analysis (for evaluating managerial & non-
managerial employees).


 Promotion & incentives strictly on the

basis of PRs.

 Compensation management


 Compensation goals:-
 attract world class executive talent;
retain key leaders; reward past
performance; incent future performance;
align GE executive’s long-term interests
with company objectives.


 Compensation = base salary, annual

bonuses, contingent long – term
performance awards, stock options,
restricted stock units, performance share
units, supplementary pension plans etc:
 Continued………
 CP neither followed any stipulated formula
nor varied with short-term company
gains.
 Individualistic in nature.

 Parameters of appraisal:-

a)Performance compared to financial,

operational & strategic objectives set at
year beginning,
b)Contribution to company’s CF, revenue,
ROIetc:,
c)The nature & degree of responsibility held,
d)Contribution to company’s CSR initiatives,
Continued…..
 Compensation surveys of 30 co listed in
Dow Jones.
