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Phases of Transformational Dimensions

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So, last time we have discussed Talent Acquisition and Management in the introduction. And then, we have talked about that there are different types of dimensions. What are these dimensions? So, here we have started with the planning. (Refer Slide Time: 00:38) So, how to plan the transformational dimensions of talent management? The transformational dimensions of talent management go through recruiting, incentivizing, developing, and evaluating are there. (Refer Slide Time: 00:48) So, first I would like to take the planning. In planning, we talk about the right mix under the constraints. So, what does the right mix mean? Right mix means that is what will be the workhorses, what will be the stars, those who are having the high potential and high performance, and those who are having high performance, but low potential. So, we have to take the right mix of these types of candidates. So, whenever we are planning for the talent management, we should be able to understand how we will be converting this mix, maybe the 80-20 maybe the 70-30, how we are going to use this percentage so that there will be the right mix because only talented employees will not be enough, they will require certain workhorses also. A combination of talented employees with workhorses will solve our problem. Now, here it requires strategies for the public and private sectors. Now, different organizations have different types of these practices. So, whenever we are talking about the private sectors, the private sectors have the strategies that the chances of the retention of the talent are less, comparatively less as compared to the public sector. Because the people who are joining the public sector have one of the major factors that are job security, so, if they are going for the public sectors for the job security for talented people, then, in that case, there is very little chance that they will leave the organization, a very low percentage will be there. But when we talk about the private sectors, it has been observed that talented employees leave fast because they are getting more opportunities for growth at the other places, as a result of which the strategies for the public and private sectors have to be different. So, in the talent management of the private sector, the strategy is to retain them for maybe a short period but get the maximum output from them. So, their input for the organization may be in a short period that might be valuable, and it is worth of the talent. While in the public sector, you know that an employee is going to live for a long period, and as a result of this, you will go for slow and steady progress. And that is a reason that is in the public sectors you will find that is the employees they are continuing for the long hours, long time in at the working place and then and also for the many years. So, that is making their growth slow and steady. Now, here we will also see that is demographic shifts are there. In the demographic shifts, in India also you will find that is the now the percentage of the woman employees have increased. So, what is the demographic variable? A demographic variable is an age, and we know in the Indian companies, the normal age of the employees at their entry-level is between, they are 23 to 26. And as a result of which you know the employees who are entering the organization, are very young and bright, and as a result, you have to manage their management practices differently. Another one is that is gender. After age, gender, and it has become the trend now that is the gender that is female employees, women employees they are also increasing in a number at large. As a result of this, I will not be surprised like especially in the service industries that it goes up to 40 per cent is the female, 60 per cent is the male workers are there, or in some organizations, even it is the 50-50 per cent right. So, therefore, in that case, in the demographic shifts, now the women employees are also joining the organizations in an equal number, you have to find out what will be the talent management practices. The planning for the talent management has to be done keeping in mind your rules, regulations, HR policies, HR manual that has to be prepared. So, there will be a requirement for the rules, regulations for the women employees also. And the third one is the income. Now, in India, dual-income families are increasing. As a result of which the employees know that even if they lose their job, there is another partner who will take care of the family. So, their demands, their style of working and their terms and conditions are changing. These demographic shifts of age, gender, income has different planning for the acquisition of talent management. If you are hiring very young employees, you have to adopt those recruiting processes which will attract them; talent has to be attracted. And therefore, as a result of the strategies and policies, the decisions will be taken accordingly. At the macro level, we will predict the competencies. Competencies are based on the knowledge, attitude, skills, and habit that is a KASH model, which I always keep on talking about. So, therefore, in that case, you have to predict what type of knowledge, what type of attitude, what type of skills, and what type of habits is the employee having. So, talented employees definitely will be having a different horizon for the KASH model; knowledge, attitude, skill, and habits. And then, the HR department has to plan accordingly to attract and retain the talent. The second very important aspect is to determine the personnel per job that is called personality job fit as per Holland's model. Every personnel is joining the job with a particular personality and his persona that will decide the retention and success of the employee in the organization. And at the macro level in the planning, we have to also judge, and thus, many organizations have started with the psychometric test. And as a psychometric test, they are judging the personality and then identifying whether the person is fit or not. Then model budget impacts are there. Everything is working under the PESTEL analysis that is the political, social, economic, technological, and legal. So, these budget impacts are those you cannot ignore. If an organization is recruiting the talent again and again because the talent retention is low, then it has a budget impact. And if you are hiring a very highly talented employee, then the pay scale, the investments which your organization is going to make on that particular employee will be very high as compared to the report on the accuracy. So, here the chances of the accuracy report will be very high because talented employees' accuracy rate is very high. So, here it becomes very important that when we are going for these macro level, the dimensions that predict competencies, determine the personnel per job; personality, model budget impacts; what is the budget and report on accuracy that means what the level of the accuracy is. When we talk about the micro-level, determine the characteristics of the MCOs. The micro-level competencies observation has to be decided based on the individual's personality, individuals performance, and individuals potential. Once you analyze that you are making career plans, suggesting career plans to the employees, and then this career plan will lead the employee to a higher position. Develop the succession plans, but right from the beginning, I am talking that the life of the talented employee in one the organization is very short. His retention is for a short period, he has to go, and he will go because he is getting more opportunities. And therefore, suggest the career plans accordingly and develop the succession plans accordingly. So, when one goes next has to be ready, and this process is a vicious circle; it will keep on going like this. So, in the planning dimension, we have to take care of the acquisition and then also the career plans and succession planning. Now, the second dimension is recruiting. (Refer Slide Time: 10:30) Nowadays, it is becoming highly challenging. In those organizations which are highly reputed, you will find thousands of applications. And as a result of which you can find out good number or enough number of employees in the organization. But those organizations which are not carrying a very high brand image employer branding in the market, and therefore, they will require that is the how the recruitment is to be done. And then, that recruitment is called the Candidate Gateway to invite the candidate, to get in the talented employee into the organization how it is to be done. Now, I would like to mention the examples of the automobile industries for the first point, that is job opening is there. It depends on the nature of the organization, technology management, how you can develop that particular organizational structure. If your technology management is very strong, the number of employees required will be less. I would like to take the example of the Maruti vis a vis Hyundai. When I visited Maruti, I found in that plant the number employees were much more as compared to Hyundai, Seoul, which I visited after three months and then there I found the manpower use, manpower planning is different because they are using artificial intelligence and many jobs especially high-risk job, high safety jobs that have been done by the robot. So, how many job openings do you have? And accordingly, you have to recruit these talented people. Many job postings are also very important. I would like to take an example. In one of my training programs in the cement industries, I found that young trainees were not very happy. The reason was that they were on campus selected for an x profile, and they have been placed on the y profile. To be specific, they have been selected for the plant technical jobs, but when they joined, they have been given the marketing job. So, many of them were not happy. Now, why this thing happened? Because the organization has failed to manage the job postings, that means where the job postings are to be done. For some percentage, it is fine. So, therefore, there can be an adjustment, but if it is in large number, then it shows the failure of manpower planning. But multinational companies and top-notch companies get thousands of applications, and they have to manage the applications. Now, many software's also available, through we which are making the screening of the keywords and those who are having these keywords their CVs are considered those which are not having those keywords so, those CVs are not considered. Then the searching; searching of the right type of people. Now, the searching can be done as we have seen in the HRM also. So, searching is done either internal or external, internal is through any of our employee's references, employee referral or external that is an advertisement is there, a consultant is there. So, these types of practices the organizations can adopt. So, it is managing job postings. So, manage the after the managing the applications then there will be the searching, searching for these type of these right people those who can work for the organization is there. And when you are getting those applications, the screening is there. Here I would like to mention one thing that is eligibility criteria are different, and screening criteria are different. What is a screening criterion? Screening criteria means there are hundreds of applications for those who are eligible as per the advertisement, but when you talk about the quality, you have to also see that how you are going to manage those applications. So, that searching of the applications can be done with the help of software by the keywords, and if those keywords are there, then those CVs will be considered. Based on that search, the screening will be done about the academic background and experience background if it is required. And the employees will be classified based on these screening of the applications with the help of software. Then routing is done to the right department, right people that have been sent and then they will go through the CVs, they will find out the right persons understanding the how many persons for one position, how many persons; 5 persons, seven persons they will like to call and that is called the routing is will be done. And then, based on that, the interviews will be conducted. I will not go into much detail about the interviews, but interviews mean when you are going to identify whether the talent is a true talent or not or it is only on the paper. So, a candidate should not be talented on the paper [FL]. So, that candidate is very good on the papers, but when you interact, you do not find that the employee can do something. So, that is why the interviews are there then offers. Based on the selection through the interviews, the offers will be made to these candidates, and they will be placed on the job, and onboarding will take place. So, this is all about the recruitment process. Now, the question arises about the difference between the recruitment of talented employees and the recruitment of HRM. So, here I would like to mention that job openings are common. Managing job postings depends on the organization's requirements. Managing the applications is done here, and from here, the talent management recruitment starts. The talent acquired during the Candidate Gateway, if you see on the left-hand side of the slide, you will find the Candidate Gateway. Candidate Gateway manages the applications. Managing the application starts from searching the keywords; screening criteria, as I mentioned, is much higher than the eligibility criteria because several applications are more you have to screen less. And therefore, you have to adapt the screening criteria to interviews and then offers, and the onboarding will take place. The third function is incentivizing E-compensation core HR. Why are employees working? Employees are working for motivation. What is their motivation? Their motivation is recognition, money, rewards, appreciation. So, how to incentivize the talent? What do you think that what will be talent incentivizing? Yes, it depends on the individual to individual, but mostly it is the financial rewards plus challenging job. (Refer Slide Time: 18:31) So, compensation as an incentive is there in incentivizing. Talent will accept the offer only when the incentives are attractive. If incentives are attractive, then they will be paid for performance. And when there is pay for performance, then compensation is decided that is called the ESOP nowadays you know variable pay, employee shares on profit. So, if two persons working in the same position; one is earning very high other is not earning that high, why? The reason is performance. So, there is performance pay. Perform more; you will get more; perform less; you will get less that is the principle of natural justice. So, therefore, pay for performance will be decided. Non-monetary incentives are also there. Already I mentioned, that many times what is seen; that is, incentivizing is based on money, and therefore, in that case, the talent will is attracted. But here I would like to mention that many times the talent is looking for appreciation, awards, positions, recognitions which are non-monetary incentives. So, non-monetary incentives are critical, and their driving force is very high. Then, in HPI interventions, first is training. Employees are supposed to have proper training. When you find that if a person has high potential but the performance is low, training should be given. So, therefore, such an employee becomes the problem children, and before he becomes the problem children, you should provide them with the training, and the training will make them more motivated towards the organizational goal. Hence, training is required. Job redesigning: as soon as you go for this type of human intervention, you will find that you are managing the job according to the capabilities of the talent. So, it is like adjusting the skill levels, adjusting the knowledge level, and naturally, here, the skill levels and knowledge level are very high. So, therefore, the job redesigning is there. Then better hire selections. Naturally incentivizing if your incentives are very strong, you will be having the better hire selection of those who are highly talented, those who are highly promising, because your incentives are very strong, so you will recruit them. In ample resource provisioning, when the employees will start their job at their workplace, they will require many resources. Resources are men, machines, material, money, method, and minutes; six M's are important in management. And therefore, you will find that is these ample resource provisioning has been done. Better match worker that is the work money manipulation easiest. So, it becomes very important that is incentivizing is matching with the right type of worker is there, and that is why the E compensation or the core HR dimension that works. (Refer Slide Time: 21:40) The next dimension is Developing. In developing, now you see in the training and development this becomes very important that is you identify the training needs. And what are the training needs? That depends on the job profile. What type of job profile you have? If your job profile and job description that requires a core competency so, the talent has to be developed. Like management trainees are taken, that in which direction they will be kept on the probation and confirmation. For 18 months, you provide the training, and then in those 18 months, whatever close competency gaps you identify, which are required to perform at the workplace, has to be developed. Also, asynchronous training is there, not necessarily these all should be having synchronization. Many times employees want themselves to develop something, and they do not want to go into the rut of the system, and here those organizations which are leading organizations, professional organizations what they do? They allow asynchronous training. Link to personnel file: it is always better for the employees to know their personnel file and personnel file are linked to further development. So, what is in the personnel file? The strengths and weaknesses, performance appraisal, potential appraisal, comments of the supervisor, feedback from the subordinates. If you are using 360 degrees, then there is feedback from the subordinates also. So, therefore, asynchronous training will be there. Link to personnel file individual not only individuals file personal; it is not personal, it is personnel file. So, it is not only about the individual, but he learns from others' peer learning, and he understands that there is a link to other files. Then the ADDIE model, so that awareness development model is also very important. Then the Kirkpatrick evaluation: so, Kirkpatrick evaluation is done based on how you are evaluating that particular procedures and capturing the ROI; Return on Investment. So, when you are developing those particular types of manpower, then definitely you are making the investments and based on the investments, you are going for the ROI; Return on Investment. So, whatever you have a plan, you have to recruit, and then you have incentivized them, you have developed them accordingly. Now, on the whole process, ultimately, it will be called enterprise learning management. (Refer Slide Time: 24:36) In this enterprise learning management, finally, we will talk about the evaluation. How do we evaluate? In evaluating what we do? The analysis, appraisal of what? Of the present, past, and future. Yesterday, today, and tomorrow. So, what is yesterday? Yesterday's performance is done. Nowadays, it is quarterly. So, in the last quarter what was the performance of the employee? That will be seen. And the talented employee's performance will be compared, and it will be found that whether there is a gap or there is progress, or there is retardation, whatever it is there. So, appraising the actual work which has been done by the employee in the past, then difficult task will be given to him. In the evaluation nowadays, what the multinational companies are doing? They are asking the candidate to go to the clients and perform there, solve their complaints and therefore, in that case, that is the difficult task they are supposed to perform. Marginal performance types, then those who are high performers they have been identified and informed. In evaluation, the employee may be judgmental. What is required is that the organization will judge based on this evaluation and analysis, that is, if the talent is talented if the talent is having any problem, talent has any particular dimension in which he is very strong, and therefore, the judgments will be taken, and it will be analyzed what type of the employee is there. Then normally, the talent may be judgmental. So, if it is talented, it will be very positive with high potential, and that is why development will be there. Development is taking care of the overall development of the employee, and those who are talented employees, then a holistic approach will be taken to develop it. It is personal, and it is a professional development also. On a personal and professional basis, the development will be there. The final point in the evaluation is multiple evaluation processes. Like you see for the MBA students, what we do? We keep on giving them the midterm, then the case study analysis, then the quizzes, presentations, then the live projects, then the written assignments are there. So, why do we keep these different components? This is the multiple evaluation process. Based on the multiple evaluation processes, we understand what is right and what is wrong, what is high, what is low, how is the employee, the mental and physical health of the employee can be evaluated. And the HR department will take care of the employees, that whatever the difficult task was given to them, what was the normal comment on those particular tasks and whether it was judgmental or it was developmental. If it is judgmental, then we take the judgments based on their yesterday and today and development the plan for their tomorrow. If the multiple evaluating processes become successful, then all these dimensions of talent management, that is, planning, analyzing the talent and planning the talent, recruiting. When we see in the observations, evaluations, case studies that the employee is good into all, then what type of incentives are to be given, what type of monetary benefits are to be given, or non-monetary benefits are to be given is seen. Then development is there, that is how to develop, and finally, there is evaluation. So, these are the dimensions of talent management. An effective organization, which is highly professional they ensure if they can separate HRM from talent management. The functions are the same, but they focus on those employees, who are found to be very high at the time of entry. So, in the entry process, if it is going to be decision-making, what type of process we have to follow. And then, we suggested the process. So, please plan your requirement of the talent according to the detail discussed in the first slide. Then in recruitment and then incentivizing the talent. Their motivation must be kept high and then slowly and matching with their personality, matching with the job, matching with the performance and potential they are supposed to go for a particular developmental process. Now, here the one warning or limitation is that is the organization. When the talent is hired, they are talented, but if the proper environment is not given, if the work culture is not proper, then, in that case, you will find the talent will not demonstrate its talent. And there might be the feeling that we have not selected the right person or the candidate. To avoid this, it is always better to evaluate the talent from time to time. When you are evaluating them from time to time, you will find that their performance has been increasing, and once their performance increases, then the e-Performance and e-Development process will be creating the solutions. So, this is all about the dimensions of talent management. Thank you.