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Talent Acquisition and Management

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So, the last time we have discussed that is this concept of Talent Acquisition and Management, it has been changed right from that how the personnel management, personnel management to the HR management and HR management to the talent management that we have discussed in our previous session. Now, in this session, we will talk about what talent management is, exactly the theoretical definition of talent management. So, talent management is a set of processes that allows a company to increase the value provided by its human capital. And what is human capital? As I mentioned, that human capital is a part; intellectual capital is having three-part organizational capital, human capital, and structural capital. So, therefore, in that case, this human capital is those employees, those who are having higher potential and high-performance stars. So, they are providing you know; in the book of the Wenderoth also it has been mentioned that, is how do you get, how do you use, how do you learn, how do you share and how you deliver to get the output. (Refer Slide Time: 01:38) So, these steps are very, very important. So, your contribution, the way of the contribution the employees does to an organization that creates the human capital. Now, in this treatment, the key process in talent management is goal alignment. It is very important to understand the organization's culture and the organization's goal, the vision statement of the organization. Because once you understand the culture, then it will become very easy for you that is how to behave; last time I have given the example of the daughter in law. So, when she enters and then she understands the goal, the vision statement of mother-in-law that is what is expected from e here, and she aligns that flexibility and sustainability are required. So, similarly then employees, employees having their own goals. Normally what is the goal? The talented people employees have the goal as satisfaction; because when you will have this when the talented people have this satisfaction. It means that money, position, status right all will automatically be the byproducts; because they will get satisfied only with the higher positions, higher responsibilities, higher empowerment. And when they have the high positions, high responsibility, and high empowerment, then definitely, in that case, they will have their vision mission statement align with the organizational statement. Because the vision or the mission statement of the organization is to develop an image in the society with the satisfied ROI: Return On Investment and creating a social image, business is a social entity. And therefore, the talented people, their goals, and organizational goal that alignment is called there is a goal alignment is important. Now, in this process, the selection process is very important, candidate selection; how do you select that employee? Now, again I will like to give that example from the family management; that is the selection of the daughter-in-law; how do you select that daughter-in-law? If you are going by matrimony.com and then you do not have the full information, you are not aware of the culture; but whatever information is provided to you, you take the decision on that and then that there is the risk, I have not said that is the wrong procedure, but there the risk is high. So, what is important? Important is that candidate selection has to be done methodically. What is it methodically? It is not as just you are giving the advertisement; you are just asking to apply, you are taking the interview, and you are selecting the candidate, no. Nowadays, you will find that is there are seven layers of interviews; 7 layers interview means that is that employee has to interact with the clients, the employee has to interact with the technical team, and the employee has to interact with the HR team, the employee has to interact with the chairman, the employee has to interact with other stakeholders in the market, and from all people, the feedback will come, and that will tell how is this potential employee. So, it is not just by one source you are collecting the information; whatever information is provided, you accept, and you go; no, that is not the right way. So, therefore, in that case, it becomes a very, very important talent management process that is how you are identifying the talent. We will have the different case studies also, and in these case studies, you will find that normally they are having the psychometric test, they have the group activity; they nowadays they are focusing on your social media, who are your friends, what they are doing, what are your comments, what are your friend's comments, what are your friends Facebook page, what are your LinkedIn connections, how are your tweets, how you express your emotions in the tweets all these things will be taken into consideration at the time of candidate selection. And then, it will be decided that is the candidate is to be called for an interview or not. Performance management, last time also in session 1, I have talked about performance management; performance management has to include potential management. The next part is employee development. Like learning and development are becoming very important. So, this is like we have seen in this COVID-19 time and in the COVID-19 time, we see that is work from home, the job is to be done; people are maybe under stress, they are in a different mindset, they have to perform, there are so many social issues, economic issues. And under this social and economic socioeconomic issue on condition environment, they have to deliver; they have to do best under their psychological stress. So, therefore, if you want to develop your employees, they should be able to manage the stress; because you know the relationship between stress and performance. So, you have to create that u stress point. When you create that u stress point, then only you will be able to create that particular, this is the situation, and this is the u-stress point. So, therefore, when we are talking about that is performance management, here is the performance, here is the stress right, and then you are extending these stress with the maximum performance here. But if you increase the stress more than this, then there is a decline in the performance. Now, the question arises, how to identify this u-stress? So, to identify this u-stress, there are many stress measurement scales and those when like the Stephen P Robbins book and all they have given the stress management skills are there; in otherwise also you will find in the reputed journal or the papers are published with that is the stress management, stress identification, stress level identification. And when you identify that stress, psychometric test and then you can say that is this person either his diagram will be like this or this diagram will be like this or this diagram will be like this, right. So, therefore, this person is coming immediately under stress; after a little performance, it is the stress, and the performance is going down [FL] tension [FL]. So, therefore, in that case, this is going down; here, it is moderate, and it is high. So, the stress-bearing capacity is there. So, a talented person can manage his stress; if it is a true talent, so he understands that if he can bear the stress, this human brain can bear the tremendous stress. But if one loses the confidence, even if you will tell you can be a great man and he has a strong belief, I can never be. So, that will be the stress. So, here it is becoming very, very important, that is the how you are going to concern with the performance management converting the potential management or the potential appraisal. And my submission is this that is the in the talent management process; this is becoming the critical area, which as I mentioned that three figures were there. So, therefore, you can develop the employees; employee development can be thereby increasing their performance is there, and there are rewards and delivery. So, everything moves with the carrot, and therefore, if you are having the strong the and healthy and the colourful and full of vitamins carrot; then definitely you will find that your talent that is the performing very well. (Refer Slide Time: 11:14) Now, here you will find that is, how you can work with the workforce is to be managed. In the workforce, which is to be managed, so you have to use in some organizations, they have used the bench management practices so, if the bench management practices are there. So, that will not be very much productive. However, if you find that is it is suitable, so suitable is there; so you can make the alignment. You can measure the employee's performance and alignment. With the measurement and capacity, you can be engaged, and you can get the employee commitment, committed employees. So, it will not come in the usual manner the HR department has to put the efforts to create many talented people, talented manpower into committed manpower, engagement power. Now, here also I would like to mention that is many times the leadership, leadership goes in the wrong direction. Because when the people are talented, and they do not perform, what is the reaction? The reaction is disciplinary action; that he is not performing, he is not delivering. So, throw him out of the normal organization may be the practice; but the great workplace, in a good work-place they do not do like this, they convert the diversion of the employee, talented employee towards the commitment, engagement, employee engagement, employee commitment. And how? By the learning and development, they make them learn; they make them develop, and accordingly, you will find that are these talented people, they are getting engage and committed. Many times you will find that is this what is required and that requirement is flexible and adoptive; flexibility, HR flexibility I will talk about. So, there is a Glowgift society also, so that has been established under the guidance of Professor Sushil and then from IIT Delhi Department of Management, and then you will find that is the flexibility, right. So, that flexibility, HR flexibility I will focus more on the HR flexibility; because Mott has given the scale of managerial effectiveness, and he has also talked about productivity, flexibility, and adaptability. But that is about the performance, mechanical performance; here I am talking about HR flexibility and adaptability. If your manpower is flexible enough, in time of the crisis, they understand what they have to do. Like the mothers in the house, in the corona time, they are doing themselves every job that is to be adaptive, that is the flexibility, right. So, therefore, in that case, that all house household items are managed and cleaned, and the kitchen and all everything has been taken by the mother without the help of any servant if she was used to. So, therefore, adopting that particular system without much much everybody will cry; but not much cry, crying is natural that much cry we have to bear right, but that is the adaptability. So, therefore, in that case, that, the talent management people, talented people, what they do? They are flexible and adaptive. And the next feature is that is they are productive, output; as you see, the person when he is the productive and talented organization has tolerance for that particular employee. Why am I using the word tolerance? Because even though he has certain personality characteristics which otherwise may not be acceptable, but when a talented employee is capable of running the organization in unfavourable situations, and then he is productive, he is giving the results. So, the organization will appreciate that particular employee. (Refer Slide Time: 16:12) So, we will now talk about the dimensions of talent management, transformational dimensions of talent management, and one by one, we will discuss all these dimensions. So, what are these transformational dimensions of talent management? So, you know that it starts with the HR planning, here also talent management planning; the recruitment of the talent that is the talent management, then incentivizing, incentivizing means rewards, rewards are to be provided to these employees. Then the development, that is, the training and development of the employees, and then the evaluation that is the performance evaluation, is there. So, if you remember the functions of the HR manager ASTD model American Society for Training and Development and in that model also talk about the planning. Now, what do we do in the planning? In the planning, we analyze and then the plan. So, you have to see that is the KSA; here is you will find in the centre; there is a position profile, Knowledge, Skill, and Attitude. However, I have also included the H that is the Hobby or Habit; that habit is a professional habit that is becoming very important. So, here it becomes very important that is you can analyze your manpower, evaluation. Why evaluate? Otherwise, how will you decide? Where is the talent in the organization? So, that analysis and evaluation are very important dear friends. Once you do, once you should be capable, you mean HR department, organization; organization's HR department should be capable of identifying that how to evaluate the talent, how to examine the talent, how to identify that there are so many employees in the organization, thousands of employees are there who are the real assets for the organization, all are assets. But when I say the assets, it is something more than performance. So, all are performing; all are doing their jobs, they are sincere. So, they are human resources, that manpower is a human resource, but you have seen that is we are talking about from human resource to talent management so that analysis to identify that where is human capital. So, for that purpose, what is required? Planning is required, you have to plan and that planning about, it is not only the job description and job analysis and job specifications; but this is about making the potential appraisals, identifying the stars, identifying or evaluating their potential and develop them, train them, put them into the L and D: Learning and Development department. So, you know this is a common practice basically; if you can make the correlate with the in the schools and colleges, you will find that is you will analyze, you take the examination, and then you identify that who are the talented people, and when they join you, then you are developing them, you have a professional course for them. During the professional course, including the job knowledge that is the HR skills, their analytical skills, the concepts are strong, and they are becoming creative or designing skills. So, therefore, in that case, you develop them. How do you develop them? By incentivizing, motivating them; that is the; this is the motive this is these are the incentives which will be provided to you and based on those rewards. Because talent will attract it towards the rewards, rewards may be monetary, maybe non-monetary; I am not saying that is talent will be attracted to the monetary rewards, talent may be attracted to the non-monetary rewards. An example is an empowerment to make the decisions. So, they feel delighted, enlighten themselves that is the such a high projects is given to me; management has assigned such a very important project to me, and that is also incentive, that is also the appreciation. Everybody looks at that employee [FL] important [FL] critical project [FL] critical responsibility only one can imagine who can handle who is talented, otherwise, for an ordinary person, it is very difficult. So, therefore, incentivizing is becoming very, very important, and therefore, that is development is there. In the development process, there is the advancement; because those incentivizing is coming through the development, development means up-gradation, up-gradation means of knowledge, skills, and attitudes. And therefore, you will find that advancement, that development which is becoming the key success for the talented employee; because of that reward, everybody is not getting. A simple example is a foreign trip or learning from them for a trip means not for the pleasure, for the learning process; he has been sponsored to go a particular machine making the country and learn how to that machine works, come back and develop that type of machine in India [FL]. So, that is also the appreciation and recognition of the employees. So, you have to see that is all your analysis, analysis related to the planning what you are planning; planning that you are going to create that evaluation, based on that evaluation you are recruiting the persons, those who are recruited they are getting the incentivized by the development process. And while they are developing, advancement is there, you are providing them with the reward, and that is their outcome. But gaining the reward does not finish here; because ultimately this whole circle, please do not forget that is what is coming out in these dimensions. What is the achievement? Achievement is the positions, responsible positions; automatically, it will come into the true hierarchy. But, it is not just a time being promotion; rather, this position is earned, achieved through the demonstration of talent. In a short period, big achievements, higher positions and will come through these planning, recruiting, incentivizing, developing, and evaluating. The second one is the development of the profiles; how do you develop the profiles? Now you see there are two CVs; how do you examine those CVs and you have to call for one person. How will you invite? And there should be benchmarking practices; if you can go for by those benchmarking practices, parameters what you say. For example, in the teaching, when you talk about the subject knowledge, academic background, publications, the projects, the industry connect, the social outreach that CV is having, then you find that this is the CV which is to be considered. Because your all points of the knowledge these KSAs is knowledge, skills, attitude, social outreach right, competency, academic qualifications. So, everything is matching. So, into that particular job description and job specifications, it is more than that from your expectations; whenever you have the higher expectations, you will find that this CV will be selected. So, it, so ultimately by this dimensions that how to develop the dimensions we will see further; but by this dimensions, you can create that output of the KSAs. These KSAs, what are those KSAs that I would like to explain. And then in that KSAs, you will find that is, it is becoming the technical knowledge, competency mapping. If you have the higher competency mapping, then you will be able to create that particular knowledge. So, it may be nowadays; we are talking more about this computer technology, we are talking more about IT, we are more talking about the more about social media right; we are more talking about that developing the skill jobs, skills profiles, skills profiles, rather than the semi-skilled or the unskilled profiles, everybody is looking for the skilled profile. So, that knowledge is required with that particular skills are there. As far as the attitude is concerned. So, attitudes are required in the different dimensions; for example, like in the case of the evaluation, how do you evaluate? So, in the evaluation, what is the most important is there; it is not the single persons working, rather than it is a group working. If the person is having the group working, then definitely he will have a team-building attitude. Now, we have to also understand in the team-building attitude, there is the forming, storming, norming, performing, and adjourning; these are the steps in the conversion of the group into a team. So, here when. So, how to convert that group into a team? That storming phase, forming is by the organization that is not in our hand; we do not select our boss, we do not select our colleagues, we do not select our subordinates. So, therefore, in that case, that is a forming and that forming to the storming. How do you have that storming? And that storming is done based on their value systems. So, many people are working together, they storm each other with the value systems, and based on that storming, you develop the norms. So, norms are there. So, forming, storming, and norms and when norms are developed, there is performing. So, that attitude is required. So, team building attitude is required, a positive attitude is required, and we look forward that is, they can, the talent management people can manage their stress; they can lead in unfavourable conditions. They can identify, evaluate; they can plan, they can recruit the right people, talented people, they can provide the right incentives, it should not be a mismatch of the incentives. So, naturally, in that case, you develop that particular talent. So, these are the different dimensions of talent management; each dimension we will take into detail further. Thank you.