A Project report on“Talent Management Survey”

In

COMPANY Ltd.

A Project Report submitted inpartial fulfillment of the

requirements for the degree ofMaster of Business Administration

By

Amol Bhagwan Kasar

PRN:

Kalyani Ravindra Sapkal College of Management Studies,Sapkal Knowledge Hub, Kalyani

Hills,Anjaneri-Wadholi, Trimbakeshwar

Rd,Nashik-422212. Tel-(02594)220165.

2

ACKNOWLEDGEMENT

Words put on paper are mere ink marks, but when they have apurpose there exist a thought behind them. I too have a purposeto express my gratitude towards those individuals without whose

guidance the project would not have been possible.

I would like to express my thanks to Mr. G. M. Pitale(Head Personnel Division), COMPANY Ltd. Who has kindly

permitted me to undertake the project in the organization.

I am also thankful to Mrs. Alka Jadhav and other members ofthe organization for their support and providing the required

information.

It was a pleasure to be associated with COMPANY Ltd. Theexperience that I have garnered has had a profound impact on mycareer choices and has helped me realize what is requisite forsuccess in the corporate world. I carry high regards for the

complete team of COMPANY Ltd.

I also take this opportunity to express a great sense of gratitude towards our Director, Dr. B. B. Rayate andinternal project guide Mrs. Manisha Gaikwad for providing me vitalinputs to co-relate the present project work and hence provide a sound base to the report structure. A special word of thanks also goes to all the teaching and non teaching staff of my institute and my Friends.

Date: 07-11-09

3

DECLARATION

I hereby declare that this Project Report titled Talent

Management submitted by me is based on actual work carried out

by me under the guidance and supervision of Mrs. Manish

Gaikwad. Any reference to work done by any other person or

institution or any material obtained from other sources have

been duly cited and referenced. It is further to state that

this work is not submitted any where else for any examination.

K. R. Sapkal college of Signature of Student Management Studies. Kalyani Hills, Sapkal Knowledge Hub,Anjaneri-Wadholi, Trimbakeshwar Rd,Nashik-422212. Amol. B. KasarTel-(02594) 220165.

Date: 07-11-09

4

5

CERTIFICATE FROM THE GUIDE

This is certify that Amol Bhagwan Kasar has

completed the Project Report on Talent Management under my

guidance and supervision , and submitted the report as laid down

by Pune University, Pune. The material that has been obtained

from other sources is duly acknowledged in the report. It is

further certified that the work or its part has not been

submitted to any other university or examination under my

supervision. I consider this work worthy for the award of the

degree of Master in Business Administration.

K. R. Sapkal college of Signature of Guide Management Studies. Kalyani Hills, Sapkal Knowledge Hub,Anjaneri-Wadholi, Trimbakeshwar Rd,Nashik-422212. Name:Tel-(02594) 220165.

6

Sr. No.

Contents Page No.

1 Chapter 1: Introduction

1.1 Object of the project1.2 Introduction of study1.3 Objectives of the study1.4 Rationale of the study1.5 Scope of the Project1.6 Limitations of the Study

7-11

2 Chapter 2: Research Methodology

2.1 Review of literature2.2 Research Design and

sample size 2.3 Primary and secondary

data and its sources

2.4 Statement of hypothesis

12-17

3 Chapter 3: Profile of the Organization

3.1 Introduction of the organization

3.2 Network/Products/Branches of organization3.3 Flow Chart of the

organization3.4 Mission of the

organization

18-25

7

4 Chapter 4: Introduction ofTalent Management

4.1 Introduction of Talent Management

4.2 Talent Management v/s Traditional HR Approach

4.3 Understanding Talent4.4 Human Capital Management

26-30

Talent Management Survey

IndexSr. No.

Name of Chapter Page No.

5 Chapter 5: Talent Management

5.1Meaning and Definition of Talent Management, Importance of Talent Management.

5.2Challenges of Talent Management,5.3 How to Manage Talent?5.4Steps involved in Talent

Management Process

31-42

6Chapter 6: Performance appraisal

6.1 What is Performance appraisal? 6.2 Methods of Performance appraisal

6.3 How performance appraisal conduct in Company Ltd.

43-49

8

7Chapter 7: Career Planning

7.1 Meaning, Definition and procedure of Career planning,

7.2 Benefits of Career Planning, 7.3 How implement career planning

in Company Ltd, Nasik.7.4 Succession Planning: Meaning,

Definition Importance.7.5 Implementation in Company of

succession planning.

50-60

8Chapter 8: Training and Development8.1 Training and development:

Meaning, Definition, Procedure, method.8.2 How training is necessary for

Development8.3 Method of training8.4 How training is conduct in

Company ltd. Nasik? Documentation and procedure

for training in Company ltd. Nasik.

61-69

9 Chapter 9: Conclusion and testing of hypothesis

72-80

10 Chapter 10: Suggestions and recommendations

81-85

9

11 Appendices I Questionnaire II Bibliography

86-89

10

Chapter 1:Introduction

Chapter 11.1 Introduction of the study

Talent Management

Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suitsa particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities. TalentManagement is beneficial to both the organization and theemployees. The organization benefits from: Increased productivity and capability; a better linkage between individuals' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people's jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge aboutand contribution to company goals; sustained motivation and job satisfaction. In these days of highly competitive world, where change is the only constant factor, it is importantfor an organization to develop the most important resource of all - the Human Resource. In this globalize world, it is only the Human Resource that can provide an

11

organization the competitive edge because under the new trade agreements, technology can be easily transferred from one country to another and there is no dearth for sources of cheap finance. But it is the talented workforce that is very hard to find. Talent signals an ability to learn and develop in the face of new challenges. Talent is about future potential rather than past track record. So talent tends to be measured in terms of having certain attributes, such as a willingness to take risks and learn from mistakes, a reasonable (but not too high) level of ambition and competitiveness, the ability to focus on ‘big picture’ issues, and an awareness of their own strengths, limitations and impact on others. Several talent management processes need to be in place on a strategic level in order ensure its success. Such processes/strategies include talent identification, recruitment & assessment, competency management, performance management, career development, learning management, compensation, succession planning etc. Talent management has a number of benefits to offer such as employee engagement, retention, aligning to strategic goals in order to identify the future leadership of the organization, increased productivity, culture of excellence and much more.

1.2 Objectives of Study:-

In the current scenario of cutthroat competition,

every company has to survive to satisfy its customers by

12

providing them quality products and services. The summer

training at Company, was undertaken with a view to study

certain fundamental as well as the commercial and

operational aspects of the company. The training involved

the study of the following:

To understand the entire procedure of Talent

management

To understand the need of Talent Management

To study the accuracy and quality of work of

employees by talent management procedure.

To suggest possible improvement in Talent Managementprocess.

13

1.7 Rationale of the study

The ‘talent’ in an organization refers to the current employees and their valuableKnowledge, skills and competencies. Talent management (orsuccession management) is the ongoing process of analyzing, developing and effectively utilizing talent tomeet Business needs. It involves a specific process that compares current talent in a department to the strategic business needs of that department. Results lead to the development and implementation of corresponding strategies to address any talent gaps or surpluses. Talent management for the HR Community is a priority of the HR Strategy for the HR Community. Not only does the HR Strategy support the HR Community as itsown professional group, but it also recognizes and will support the role human resource professionals have to help their clients become skilled, committed and accountable public servants. The implementation of a talent management process that is transparent and equitable is expected to create an environment for peopleto develop their skills in preparation for a range of future possibilities thereby preparing the workplace for changing roles. The goal of this process is to map the business needs of the HR Community with the potential andcareer development needs of our people in order to develop a comprehensive Talent Management Plan.

14

1.8 Limitations of Study:-

1) All the functions are only related with the

personnel department.

2) Limitation about the working hour of the worker

in the factory.

3) Limitation about the time and absenteeism.

4) Company not allowing to disclose confidential information

5) Time factor was the major limitation of this survey.Because during survey any activity of organization which is directly or indirectly related to the production process should not disturb due to survey.

15

Object of the project:

This “Talent Management” Project I completed from Company, For the fulfillment of the full time course of MBA of Pune university for the year 2009-2010. In CompanyI made research on Talent Management process because company want to know that, is it talent management is really beneficial for them or not. I proved them that talent management is really beneficial for company by doing this project. I completed this project because it was arequirement of our MBA full time course. I learned various things in this project, like audit, SAP HR module, personal administration. Etc.

16

17

Chapter 2: ResearchMethodology

Chapter 2: Research Methodology

Review of literature

TALENT MANAGEMENT V/S TRADITIONAL HR APPROACH

Traditional HR systems approach people development from the perspective of developing competencies in the organization. This can actually be a risk-prone approach,especially for companies operating in fast evolving industries, since competencies become redundant with timeand new competencies need to be developed. Thus, over time, the entire approach to development of people might be rendered obsolete calling for rethinking the entire development initiative.

Talent management on the other hand focuses on enhancing the potential of people by developing capacities. Capacities are the basic DNA of an organization and also of individual potential.

D Point of Departure

N

Navigation

A

Point of Arrival

18

In fact, the following appropriately describes the role of talent management:

Translating organizational vision into goals and mapping the required level of capacities and competencies to achieve goals aligning individual values and vision with organizational values and vision.

Clear understanding of the varied roles within the organization and appreciation of the value-addition from self and others leading to building a culture of trust, sharing and team orientation.

Assessment of talent to profile the level of capacities and set of competencies possessed within the organization.

Enhancing capacities to learn, think relate and act through development initiatives.Individual growth to meet and accept varied incremental and transformational roles in an overall scenario of acknowledged need for change.

Gap analysis and identification of development path helping individuals realize their full potential through learning & dev. Developed individuals enabling breakthrough performance

4.3 Understanding Talent

The idea of developing talent is not a new concept in any business. In fact every successful companythat has 'stood the test of time' has done so, Because oftheir ability to attract, retain and get the best out of their talent.Today we read of a 'war for talent’. This has emerged, not because companies have forgotten about talent, or allowed it drop off of the radar but, because in some

19

fundamental ways, the talent has changed. We have a new kind of young person entering the business world, with a very different world view, set of values, priorities and goals.

Focus 1: Attracting and recruiting Talent: In order to effectively attract and recruit talented employees you need to understand what talent is looking for in a career and how they will view your business in terms of fitting in with their needs. Your approach to each one of your potential recruits needs to be altered to suit that they are.By examining this through the perspectives of the different generations, we are able to look at their attitudes to work what kind of career, organization and benefits they are looking for and know what kind of techniques will ensure that your recruitment process is successful in each generational context.

This focus unit looks at the following:

o attitudes to worko career goalso views on organizations and how they are currently

runo what benefits each generation is looking foro Techniques to attract the different generations:

what will make your organization stand out?o Techniques to recruit the different generations: how

should the job offer be presented?

Focus 2: Retaining and developing Talent

20

In order to effectively retain and develop Talent you need to understand what the generations are looking in a future career and in an organization. Your approach to each one of your employees needs to be altered to fit individual goals and personal needs.

This focus unit looks at the following:o work ethics and valueso career planningo work environments and cultureo benefits and reward systemso ways of motivating

Focus 3: Managing Talent

An in depth look at how the generations internalize authority will enable you to adjust your management style tofit in with who they are.We are able to look at the attitudes of the different generations to leadership and management; what kind of management approaches will ensure that you gain maximum loyalty, productivity and job satisfaction from each of youremployees.

This focus unit looks at the following:

o attitudes to authorityo management styles for the different generations

including conflict managemento leadership styles used by the different generationso specific techniques to help you manage different

generations including communication and feedback preferences

o coaching and mentoring preferences including The role of coach The coaching process

How to plan for and create conversations

21

Research Methodology

Research Methodology is a way to systematically solve

the research problems. It may be understand as a science

of studying how research is done scientifically. In it we

are studying his research problems along with the logic

behind them. It is necessary the researcher to know not

only the research method techniques but also the

methodology.

Types of Research:-

It is descriptive type of research. Descriptive Research

survey and fact finding inquiries of different kind. The

major purpose of descriptive research is descriptive the

state of affairs, as it exist at present. The main

control over the variable; he can only report what has to

discover the even when there he cannot the variable. The

methods has to researcher utilized in descriptive

research are survey methods of all kind.

Data Source:-

The source of project depends on accurate data. That’s

why data collecting the appropriate data, which differ

considerable in context money, cost, time and other

resources at the disposal researcher.

22

There are two types of data collection methods

available:-

1) Primary Data Collection Method.

2) Secondary Data Collection Method.

2.3 Primary And Secondary data

1) Primary Data Collection Method.

Primary data are those that are obtain by the user

for fulfillment their purpose. I have taken Primary Data

through personal visit of HR head, and HR executive, of

Company Ltd. At all levels and observation methods to get

more reliable information. I also collected primary data

by filled, ‘Yes’ or ‘No’ format questionnaire by the

employee of Company, This data helped me to justify the

statements that have made in this project.

23

2) Secondary Data Collection Method.

The Secondary Data is that which is already collected

and stored or we can say already saved or ready data by

others. I got secondary data from their journals,

records, specimen of appraisal form etc. And from

newspapers magazines, articles, internet etc I got basic

information of Talent Management. I collect secondary

data by referring some specimen of company and by

referring some books and web sites of company from

internet.

24

2.4 Statement of Hypothesis

Hypotheses are the essential assumptions

which the researcher formulates about the possible

causes, findings and ultimate output of the issue in

under research. Under hypotheses mere assumptions or

suppositions are made which are to be proved or

disproved. For researcher it is a formal question that he

intends to resolve. A hypotheses consist either of a

suggested explanation for a phenomenon or of a reasoned

proposal suggesting a possible correlation between

multiple phenomenon. The assumptions be true or false are

to be proved through the completion of project.

The hypotheses for this project are as follows:

Null Hypothesis: Employee taking benefits from Talent Management

System

Employee can retain successfully for the benefit oforganization

Employee’s performance increased by talentmanagement

Employee turnover of organization affected by TalentManagement Procedure

Alternate Hypothesis:

Employee are not able to take benefits from TalentManagement System

25

Employee can not retain successfully for the benefitof organization

Employee’s performance can not increased by talentmanagement.

Talent Management is not affecting on employeeturnover of organization

26

Chapter 3: Profile of the Organization.

3.1 History of Company

27

Founder of Company-Werner von CompanyBorn- 13 Dec. 1816 to 6 December 1892

Company was founded by Werner von Company on 12 October, 1847. Based on the telegraph, his invention useda needle to point to the sequence of letters, instead of using Morse code. The company – then called Telegraphen-Bauanstalt von Company & Halske – opened its first workshop on October 12.

In 1848, the company built the first long-distance telegraph line in Europe; 500 km from Berlin to Frankfurtam Main. In 1850 the founder's younger brother, Sir William Company (born Carl Wilhelm Company), started to represent the company in London. In the 1850s, the company was involved in building long distance telegraph networks in Russia. In 1855, a company branch headed by another brother, Carl von Company, opened in St Petersburg, Russia. In 1867, Company completed the monumental Indo-European (Calcutta to London) telegraph line.

In 1881, a Company AC Alternator driven by a watermill was used to power the world's first electric street lighting in the town of Godalming, United Kingdom. The company continued to grow and diversified into electric trains and light bulbs.

As Werner had envisioned, the company he started grew from strength to strength in every field of electrical engineering. From constructing the world's first electric railway to laying the first telegraph linelinking Britain and India, Company was responsible for building much of the modern world's infrastructure.

Company is today a technology giant in more than 190 countries, employing some 440,000 people worldwide. Our work in the fields of energy, industry, communications, information, transportation, healthcare, components and lighting has become essential parts of everyday life.

While Werner was a tireless inventor during his days, Company today remains a relentless innovator. With

28

innovations averaging 18 a day, it seems like the revolution Werner started is still going strong.

In 1890, the founder retired and left the company to his brother Carl and sons Arnold and Wilhelm. Company & Halske (S&H) was incorporated in 1897. In 1907 Company had 34,324 employees and was the seventh-largest company in the German empire by number of employees.

In 1919, S&H and two other companies jointly formed the Osram lightbulb company. A Japanese subsidiary was established in 1923.

During the 1920s and 1930s, S&H started to manufacture radios, television sets, and electron microscopes.

29

3.3 COMPANY AG - A Strong Global Presence

Company is a world-class supplier of electrical and

electronics products and system serving one of the

longest and most diversified markets worldwide. Company

Ltd. in India is a subsidiary of Company AG, Germany.

Company AG have been closely involved with developments

that are at the leading edge of electrical and

electronics engineering ever since the pioneering

inventions of the founder of the company – Werner Von

Company.

Company strength, acquired over many decades of

pioneering research and practical experience, lies in the

development of advance technologies and in their timely

application to a wide range of high Quality, Innovative

and cost effective products. As a global company, Company

have manufacturing, sales and services facilities in more

than 170 countries. Employees worldwide in the offices,

factories, laboratories and service organizations total

to about 3, 90,600. All committed to providing the

30

highest standards of technological competence that

Company has been a synonym for, right since inception.

In today’s fiercely competitive business environment, corporate strength can be achieved and maintained only with a strong base of highly qualified and motivated employees. Qualified professional training however provides merely the basis for a successful career. Changes in technology and the business environment occur so rapidly that know-how and skills must be constantly updated, enhanced or completely supplanted. Each year more than 150000 employee at Company AG participate in over 20000 seminars and coursesdesignated to none professional and personal skills. While 10800 trainees are undergoing training in manufacturing, technical and commercial trades.

3.4 Company in India

Company association with India began in 1867 when

Werner–Von-Company personally supervised the laying of

the first sub marine telegraph line between Calcutta and

London. This historical event marked with the beginning

of a long and fruitful association. Company and India

have grown together. In making the country’s priorities

its own, Company has put its experience and expertise in

areas of national importance. Company have played an

31

active role in the technological progress experienced in

the last four decades. Company grew out of a response to

the needs of the nation. Today Company involvement

reflects the current trends in electronic and electrical

technology in switchgear, motors, drivers, automation

systems, power generation and distribution, projects,

transport, medical engineering, communications and

components.

Company have about 8000 employees in India and an

extensive network which includes 10 works, 3 training

Centers (Units), 7 sales offices, 23 representative, 300

dealers, System houses and Service Centers, all geared to

meet the requirement of customer.

Being closely associated with our principals Company

AG, Germany gives Company in India access to the world’s

latest developments in every field. This Combined with

its experience in India makes Company the ideal partner

for catalyzing the country’s progress.

32

3.2 Company Product

Founded in 1847 at Berlin, Prussia Founder(s) Werner

von Company Headquarters at Berlin and Munich.

Products and Services

Communication Systems Power Generation

Automation Lighting

33

Medical technology

Transportation and Automotive

34

Trains and Trams

Water Technologies

Building Technologies

Home Appliances

Fire Alarms

IT Services

35

Financing

Construction

36

Chapter 4: Introductionof Talent Management.

Chapter 4: Introduction

4.1 Meaning Definition

With businesses going global and competition becoming intense, there is mounting pressure on organizations to deliver more and better than before. Organizations therefore need to be able to develop and deploy people

37

who can articulate the passion and vision of the organization and make teams with the energy to perform atmuch higher levels.

These people build and drive the knowledge assets of a corporation, the value of which has been established to be many times more than the tangibles. The capacity of anorganization to hire, develop and retain talent is therefore the most crucial business process and priority on the CEO’s agenda.

The 1990’s ended with a call-to-arms to fight “the war for talent”. While the war for talent clearly has cooled in the early stages of the 21st century, dampened by economic doldrums & concerns with global security; the rear battle to attract, motivate, development & retain talent is going to heat up considerably. A looming demographic time-bomb will make Talent Management a priority for organizations.

A host of issues like: loss of human capital, talent shortages, ageism, and cultural clash has made acquiring & managing talent difficult.

Talent Management describes the process through which employers of all kinds – Firms, Govt., and Non-profit organizations – anticipate their human capital needs & set about meeting them. Thus Talent Management refers to:getting the RIGHT PEOPLE with the RIGHT SKILLS into the RIGHT JOBS.

It is a professional term, also known as “Human Capital Management” that refers to the process of developing & fostering new workers through on boarding, developing & keeping current workers & attracting highly skilled workers to work for your company. Companies that are engaged in Talent Management are strategic & deliberate in how they recruit, manage asses, develop & maintain an organization’s most important resource – its PEOPLE. This term also incorporates how companies drive performance at the individual level.

38

Decisions about Talent Management shape the competencies that organizations have & their ultimate success; & from the perspectives of individuals, these decisions determine the path & pace of careers. We may thus understand that this term is usually associated with competency based HRM practices. Talent Management decisions are often driven by a set of organizational core competencies as well as position – specific competencies. The competency set may include knowledge, skills, experience & personal traits.

4.2 Human capital management

Companies that engage in talent management (Human Capital Management) are strategic and deliberate in how they source, attract, select, train, develop, retain, promote, and move employees through the organization. Research done on the value of such systems implemented within companies consistently uncovers benefits in these critical economic areas: revenue, customer satisfaction, quality, productivity, cost, cycle time, and market capitalization. The mindset of this more personal human resources approach seeks not only to hire the most qualified and valuable employees but also to put a strongemphasis on retention. Since the initial hiring process is so expensive to a company, it is important to place the individual in a position where his skills are being extensively utilized.

The term talent management means different things todifferent organizations. To some it is about the management of high-worth individuals or "the talented" whilst to others it is about how talent is managed generally - i.e. on the assumption that all people have talent which should be identified and liberated. From a talent management standpoint, employee evaluations concern two major areas of measurement: performance and

39

potential. Current employee performance within a specificjob has always been a standard evaluation measurement tool of the profitability of an employee. However, talentmanagement also seeks to focus on an employee’s potential, meaning an employee’s future performance, if given the proper development of skills.

The major aspects of talent management practiced withinan organization must consistently include.

performance management leadership development workforce planning/identifying talent gaps recruiting

This term of talent management is usually associatedwith competency-based human resource management practices. Talent management decisions are often drivenby a set of organizational core competencies as well asposition-specific competencies. The competency set may include knowledge, skills, experience, and personal traits (demonstrated through defined behaviors). Older competency models might also contain attributes that rarely predict success (e.g. education, tenure, and diversity factors that are illegal to consider in relation to job performance in many countries, and unethical within organizations).

40

41

Chapter 5: Talent Management

Chapter 5: Talent Management

5.1 Meaning and definition

Talent management implies recognizing a person's inherent skills, traits, personality and offering him a matching job. Every person has a unique talent that suitsa particular job profile and any other position will cause discomfort. It is the job of the Management, particularly the HR Department, to place candidates with prudence and caution. A wrong fit will result in further hiring, re-training and other wasteful activities.

Talent Management is beneficial to both the organization and the employees. The organization benefitsfrom: Increased productivity and capability; a better linkage between individuals' efforts and business goals; commitment of valued employees; reduced turnover; increased bench strength and a better fit between people's jobs and skills. Employees benefit from: Higher motivation and commitment; career development; increased knowledge about and contribution to company goals; sustained motivation and job satisfaction.

In these days of highly competitive world, where change is the only constant factor, it is important for an organization to develop the most important resource ofall - the Human Resource. In this globalize world, it is only the Human Resource that can provide an organization the competitive edge because under the new trade agreements, technology can be easily transferred from onecountry to another and there is no dearth for sources of cheap finance. But it is the talented workforce that is very hard to find. The biggest problem is how to retain the present workforce and stop them from quitting

42

Importance

First, let us look at some of the reasons for the importance of talent management.

Globalization:

Now for any jobseeker the whole world is the potential place to find employment. One can know the opportunities available in any part of the world easily and the number of talent seekers has also increased.

Increased Competition:

Increased competition in the market place has necessitated the need for consistently good performance on the side of organizations. These have made the companies to put in all efforts to hire and retain the best talent in the respective field of operation.

Increasing Knowledge:

43

The knowledge era has necessitated the retainingof those talents which have the ability to assimilate newtechnologies and knowledge, which are growing at a pace never seen before.

How Talent Management important for an Organization:

1) Cost cutting:

One experienced & skilled employee can replace instead of two or more employees. Organization can save hundreds of thousands of dollars.

2)Maximum Output

Organization can make maximum out put in minimum resources.

3)Time Saving technique

It is a time saving technique. Because for every job a skilled person can place. It’s helpful to complete job in minimum time

4)Perfection increase

Due to skilled employee Perfection in work is increase. There is low probability of mistakes.

How Talent Management important for an Employee:

Recruitment

It’s ensuring that right people are attracted to the organization, due to providing exposure for there skills.

Retention

44

Developing and implementing practices that reward and support employees.

Employee development

Ensuring continuous informal and formal learning and development.

Leadership and "high potential employee" development

Specific development programs for existing and future leaders.

Performance management

Specific processes that nurture and support performance, including feedback/measurement.

Workforce planning

Planning for business and general changes, including the older workforce and current/future skills shortages.

Culture

Development of a positive, progressive and high performance "way of operating".

5.2 The Challenge

The challenge of talent management has two faces. First is how to find new people and second is how

45

to retain the present workforce. Each of the challenges has to be tackled in the most efficient way possible so that the organization can achieve its objectives.

The First Challenge - Where to find new talent?

All the organizations are finding loads of business opportunities and consequently, their revenues are growing at a rapid pace. The increasing business opportunities has necessitated that these organizations go in for massive recruitment. But, the question is whereto find the best talent which is able to fit the job description and also adjust to the organization’s values and norms. If we scan the environment, we find there is ashortage of skilled workforce that can be employed.

Some of the possible reasons that have led to the shortage are: -

Demographic Constraints:

This is a common problem faced by many of the developed countries, where a large chunk of its population is nearing the age of retirement or is over 50years. USA, Germany and Japan are facing the same problem. All these countries will see a decline in their workforce and talent. In the coming years, they will see a great shortage in their skilled professionals.

Existing Educational System:

The graduates and the postgraduates that are being churned out of the universities are found to be ill-equipped to handle the challenges of the workplace. They are mostly equipped with only the theoretical aspects of the issues and lack the application part. The educational system is faulty and does not take industry needs into consideration, resulting in a mismatch betweenindustry requirements and educational preparation.

Cost Factor:

46

Recruiting new employees is becoming tougher and tougher in the developing countries, where the HR department has to sort out thousands of applications for a handful of jobs. Finding right person for the right job becomes a very difficult process. It also involves very high cost to conduct the recruitment and selection process for such a large population of applicants.

Attracting the Best Talent:

This is another challenge. As was the case in the past, the best available talent is not just motivatedby the name and fame of the organization. Not any more. They have a new set of motivators like - challenging work, conducive work environment and freedom from bureaucratic structure.

The Second Challenge - How to retain the existingemployees?

Gone are the days when a person would join an organization in his mid-20s and would work till his retirement in the late-50s. Today the young professionalshop jobs, especially during the first 4-5 years of their work life. Though the Indian service industry is basking in the light of outsourced jobs from the developed countries, they also cannot ignore the fact that the BPO industry is also facing one of the highest attrition rates, in fact never heard before in India, of around 35%.

It is a fact that it’s the people that add value to organizations. It is also a fact that humans are a restless species who, unlike the immovable Banyan Tree, cannot stay rooted in one place. People need to move on for one reason or another, and the organization stands tolose.

Let us look at some of the reasons behind the massive attrition rates: -

47

1. Gap between organizational values and goals and the personal values and goals is one of the major reasons of the attrition rates. If they go parallel,there is no way both would be satisfied and inevitably, the organization would lose out on a talented employee.

2. Working environment is another major factor. Employees in the knowledge era demand creative and ademocratic work environment. Failure on the part of the management to provide such an environment will result in a talented employee leaving the organization.

3. The competitive world has made sure that there is high work pressure on the employees of any organization. This has led to psychological problemslike stress, and in extreme situations, total burnouts. It also leads to other health related problems.

4. Movement for higher salary is also common among the younger professionals. There is no shortage for organizations who are looking for talented employeesand who are ready to shell out a hefty salary for a talented person. Other lures like better job opportunities, higher posts and overseas assignmentsare also major factors in the attrition rates.

5. Not taking proper care during the recruitment and selection process and not taking proper care to fit the right person to the right job also breeds dissatisfaction among the employees.

48

6. Bad or opaque policies from management on issues of succession planning and promotion, appointments for senior positions also is a major factor which makes the organization lose out on the talented employees.

7. The professionals have different aspirations at different times of their career. During the initial years, they have good salary and foreign assignments. Next on the list is working on cutting edge technology. More seasoned professionals look for learning opportunities. So employees tend to move to those organizations which provide them with means to fulfill their aspirations.

Retaining the present employees is of the foremost importance to the organizations because; the company would have already incurred heavy costs in the form of training and development. Now if the organization has to look for a replacement for the employee who has left, it involves a lot of costs like - hiring costs, training costs and the induction costs.

Also it takes some time for the new employee to adjust tothe new work environment. During this time the productivity of the employee will be low. The HR department will have to fit the new employee into a proper role in the organization. Apart from causing the company a monetary loss and breaks in their day-to-day operations, attrition contributes to knowledge transfer, which is a great loss and adversely affects business.

5.3 How to Manage the TALENT?

It is now proved beyond doubt that, in the era of technology and knowledge, talent is in the driving seat. One who possesses it dictates. Not he who pays for it. Itis the demand of the time that business leaders elevate

49

management of talent to a burning corporate priority. It is not a walk in the park for the talent market. Quality people are no longer available in plenty, easily replaceable and relatively inexpensive.

These are some of the measures that should be taken into account to hire and retain talent in the organization, tobe efficient and competitive in this highly competitive world: -

Hire the Right People:

Proper care must be taken while hiring the people itself. It would be beneficial for an organization to recruit young people and nurture them, than to substituteby hiring from other organizations. Questions to be askedat this stage are: Whether the person has the requisite skills needed for the job? Whether the person's values and goals match with those of organizations? In short, care must be taken to fit the right person to the right job.

Keep the Promises:

Good talent cannot be motivated by fake platitudes, half-truths and broken promises. Unfulfilled expectations can breed dissatisfaction among the employees and make them either leave the organization or work below their productive level. Promises made during the hiring stage must be kept to build loyalty among the employees, so that they are satisfied and work to their fullest capability.

50

Good Working Environment:

It has to be accepted by the organizations that highly talented persons make their own rules. They have to be provided with a democratic and a stimulating work environment. The organizational rules must be flexible enough to provide them with freedom to carry out their part of task to their liking, as long as the task is achieved. Opportunities should also be provided to the employees to achieve their personal goals.

Recognition of Merit:

It is highly motivating for any person if his talent is recognized and is suitably rewarded. One way isproviding them with salary commensurate with their performance. Promotions and incentives based on performance are another way of doing it. Another way is by providing them with challenging projects. This will achieve two objectives - it makes employee feel that he is considered important (a highly motivating factor) and gets the work done in an efficient manner and brings out the best in the employee.

Providing Learning Opportunities:

Employees must be provided with continuous learning opportunities on and off work field through management development programs and distance learning programs. This will also benefit the organization in the form of highly talented workforce.

Shielding from High Work Pressure:

If an organization has to make the most of theavailable talent, they should be provided with adequate time to relax, so that they can did-stress themselves. Itis very important to provide them with holidays and all-expenses-paid trips, so that they can come back refreshedto work and with increased energy. They must also be encouraged to pursue their interests which are also a good way of reducing work environment stress. Recreation clubs, entertain programs, fun activities with in the

51

work area will also reduce the work life stress of the employees and develop camaraderie among the workers and result in a good working environment.

TALENT & PERFORMANCE

Organizations provide individuals the opportunity and space for physically manifesting their talent into performance for achieving individual and organizational vision. Talent manifests into performance as follows:

52

Talent+

Vision/Mission/Strategy+

Skills & Competencies+

Role & structure+

Opportunity+

Encouragement & Recognition+

Training & Development+

Coaching+

Action Plan & Goals+

ResourcesPerformanceManagementSystem

Thus the domain of talent management focuses not only on development of individual’s intrinsic capacities,but also on culture building and change management to provide the other elements listed above for manifestationof talent into performance.

The New HR Mission and Talent Management Processes

Many challenging workforce issues confront HR, including:

Heightened competition for skilled workers.Impending retirement of the baby boomers.Low levels of employee engagement.Acknowledgement of the high cost of turnover.Arduous demands of managing global workforces.Importance of succession planning.Off shoring and outsourcing trends.

This requires new thinking and a new mission to achieve business success. These factors—coupled with theneed to align people directly with corporate goals—are forcing HR to evolve from policy creation, cost reduction, process efficiency, and risk management to driving a new talent mindset in the organization.

One important distinction is the evolution of the difference between tactical HR and strategic talent management. Transactional HR activities are administrative overhead. Talent management is a continuous process that delivers the optimal workforce for your business.

In this new model—instead of being the owners of processes, forms, and compliance—HR becomes the strategic enabler of talent management processes that

53

empower managers and employees while creating business value.

With this view, talent management may be defined as the implementation of integrated strategies or systems designed to improve processes for recruiting, developingand retaining people with the required skills and aptitude to meet current and future organizational needs.

Anecdotally, talent management is often defined as performance management, incentive compensation, or talent acquisition. Talent management is also often confused with leadership development. Although leadership development is a crucial function of your organization, focusing on it exclusively is a legacy of last century. Our modern service and knowledge economiesin the talent age require a broad and holistic view. A high performance business depends on a wide range of talent.

Taleo’s graphical representation emphasizes the mandate of talent management to respond to business goals and consequently be the driver of business performance. Talent management is depicted as a circular—not a linear—set of activities.

5.4 Why Talent Management?

Workforce cost is the largest category of spend for most organizations. Automation and analysis of your recruiting and hiring processes provides the immediate workforce visibility and insights you need to significantly improve your bottom line. Performance management provides the ongoing processes and practices to maintain a stellar workforce.

Today, many organizations are struggling with silos of HR processes and technologies. The future of talent management is embodied in solutions designed from the

54

ground up to provide business-centric functionality on aunified talent management platform.

Since nearly all competitive business factors have become commoditized, talent is what ultimately drives business success and creates value. Leading organizations rely on Taleo solutions and services to assess, acquire, develop, and align talent with businessobjectives while significantly reducing process costs, improving quality of hire, reducing risk, and achieving higher levels of performance.

Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of successful talent management practices:

The key enabler of any organization is talent. The quality of your people is your 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. That’s when talent truly drives higher business performance.

Indirect implementation of Talent Management in Company Ltd., Nasik Works. By following Steps:

Performance appraisal

55

Career Planning

Succession Planning

Training and Development

56

57

Chapter 6: Performance Appraisal

Chapter: 6 Performance appraisals6.1 What is Performance Appraisal? Meaning: - Performance appraisal is a method ofevaluating the behavior of employees in the work spot,normally including both the quantitative and qualitativeaspects of job performance. Performance here refers tothe degree of accomplishment of the tasks that make up anindividual‘s job. It indicates how well an individual isfulfilling the job demands. Often the term is confusedwith effort, but performance is always measured in termsof results and not efforts.

Need of Performance Appraisal: -Performance appraisal is needed in order to:

(1) Provides information about the performance ranks,basing on which decision regarding salaryfixation, confirmation, promotion, transfer anddemotion are taken.

(2) Provide feedback information about the level ofachievement and behavior of subordinate. Thisinformation helps to review the performance of thesubordinate, rectifying performance deficienciesand to set new standards of work, if necessary.

(3) Provide information, which helps to counsel thesubordinate.

(4) Provide information to diagnose deficiency inemployee regarding skill, knowledge, determinetraining and developmental needs and to prescribethe means for employee growth provides informationfor correcting placement.

(5) To prevent grievances and in disciplinaryactivities.

58

Purpose

Performance appraisal aims at attaining thedifferent purpose. They are:(1) To create and maintain a satisfactory level of

performance.

(2) To contribute to the employee growth anddevelopment through training self and managementdevelopment programs.

(3) To help the superiors to have a properunderstanding about their subordinates.

(4) To guide the job changes with the help tocontinuous ranking.

(5) To facilitate fair and equitable compensationbased on performance.

(6) To facilitate for testing and validating selectiontests, interview techniques through comparingtheir scores with performance appraisal ranks.

(7) To provide information for making decisionsregarding lat off, retrenchment etc.

(8) To ensure organizational effective throughcorrecting employee for standard and improvedperformance, and suggesting the change in employeebehavior.

59

6.2 Methods of Performance Appraisal: The methods of performance Appraisal arebasically classified as Traditional Methods, ModernMethods and result – Oriented Appraisal: -

a) The Traditional Methods consists of ‘GraphicRating Scales’,’ Ranking Method’,’ Pairedcomparison Method’, ‘Forced Distribution Method’,‘Checklist method’, ‘Essay or free fromAPPRAISAL’, ‘Group Appraisal and ‘confidentialReport’.

b) Modern Methods of evaluating performance appraisalare ‘Behaviorally Anchored Rating Scales’,Assessment Center’, Human Resource Accounting’,Management by objectives’, Psychology Appraisal’.

Uses of Performance Appraisals:-

Performance Improvement: Performance feedbackallows the employee, manager, and personnelspecialists to intervene with appropriate actionsto improve performance.

Compensation Adjustments; Performance evaluationshelp decision-makers determine who should receivepay raises. Many firms grant part or all of theirpay increases and bonuses based upon merit, whichis determined mostly through performanceappraisals.

Placement Decisions: Promotions, transfers, anddemotions are usually based on past or anticipatedperformance. Often promotions are a reward forpast performance.

60

Training and Development; Poor performance mayindicate the need for retraining. Likewise, goodperformance may indicate untapped potential thatshould be developed.

Career Planning and Development: Performancefeedback guides career decisions about specificcareer paths one should investigate.

Staffing Process Deficiencies: Good and Badperformance implies strength or weakness in thepersonnel department‘s staffing procedures.

Informational Inaccuracies: Poor performance mayindicate errors in job analysis information, humanresource plans, or other parts of the personnelmanagement information system. Reliance oninaccurate information may have led toinappropriate hiring, training, or counselingdecisions.

Job Design Errors: Poor performance may be asymptom of ill-conceived job designs. Appraisalshelp diagnose these errors.

Equal Employment Opportunity: Accurate performanceappraisals that actually measure job – relatedperformance ensure that internal placementdecisions are not discriminatory.

External Challenges: Sometimes performance isinfluenced by factor outside the work environment,such as family, financial, health, or otherpersonal matters. If uncovered through appraisals,the human resource department may be to provideassistance.

61

Feedback to Human Resources: Good/bad Performancethroughout the organization indicates how well thehuman resource function is performing.

Traditional and modern Methods of Performance Appraisal

62

METHODS OF PERFORMANCE APPRAISAL

Traditional methods Modern Methods

1) Graphic rating scales 1) Behaviorally anchored rating scales2) Ranking Method 2) Assessment centers3) Paired comparison method 3) Human Asset accounting method4) Forced distribution method 4) Management byObjectives method

6.3 How implement performance appraisal.

Introduction Now a day’s Performance appraise is very importantfrom company point of view. It is use to take various managerial decision. E.g. decision regarding employee’sincrement or decision regarding employee’s future career planning etc. In Company they use “Grading and Ranking “method to appraise performance of there employee. Who Appraise

63

Performance appraise by Head ofthe department or from the superior. They did not conductperformance appraisal on officer’s level it conduct only on officer’s basis. In Company Performance is appraising by head of the department, Supervisor, manager, etc.

Process:

Head of the department submit one copy of performance appraisal to HR Department and discuss with the employee whose performance is down. One copy of performance appraisal report is attached to that employees personnel file as a record. If that employees performance is going down then head of the department can talk with that employee regarding increase performance. Even Hr Manager also should talk with that employee to know his problem and HRManager should motivate that employee to increase performance.

Employees increment is depend upon there performance. Head of the department or HR manager may stop increment of employee regarding low performance.

General use of performance report in Any Company:

Need of training.

Head of the department or HR manager can decide whether employee needs training for good performance or not.

Career Planning.

Career planning generally use to retain skilled employee. They can find out skilled employee for skilled

64

employees career planning from performance appraisal report.

Succession planning:

From performance appraisal Report Company can select candidate to make succession planning.

Benefits of employee to company Company’s employee are company’s asset, it is helpful to calculate that company’s employee how much give returns to company. Or which employee is beneficial for company and which is not beneficial.

65

66

Chapter 7: Career Planning

Chapter: 7 Career Planning

7.1 Introduction and meaning

Introduction

The career is all the jobs that are held during onesworking life. According to ‘E.B. Flippo’, career is a sequence of separate but related work activity’s that provides continuity, order and meaning in a person’s life.

Definition:

1) Edwin Flippo define a career as a sequence of separate but related work activities that provides continuity, order and meaning in a persons life.

2) Wreather and Davis defined various terms of career planning as given below:

67

A career path is the sequential pattern of jobs that form a career (as per figure). Career Planning is the process by which one selects career goals andthe path to these goals. Career development is thesepersonal improvements one undertakes to achieve a personal career plan.

3) Career management is the process of designing and implementing goals, plan and strategies to enable the organization to satisfy employee needs while allowing individuals to achieve their career goals.

Life and career Stages

Human resource managers must understand the issues that individuals face throughout their careers. A study of career development theories, life development theories and interrelationship among careerstages and life stages will provide and understanding of the issues that the individual face. Career and lifestages are closely related as both are linked to age and cultural norms.

Need for career planning

Career planning is necessary due to following reasons

1) Attract competent person

68

To retain the competent person or to attractthem company need career planning, because thiskind of person are company’s asset. Competitorscan try to hire this person so, company always try to retain these person.

2) Provide suitable promotional opportunities

To give exposure for employee’s knowledge and talent, Career planning is important.

3) Training for future challenges

Enable employee to develop and make them ready to meet the future challenges.

4) reduce job dissatisfaction

It helps to increase job satisfaction for employee.When employee get exposure to show skill and when he learn more from job profile at that time job satisfaction automatically increase.

5) Improve motivation and morale

Career Planning is useful to improve motivationand morale of employees.

7.2 Process of Career Planning.

a) Analysis of individual skills, knowledge, abilities,aptitudes etc.

b) Analysis of career opportunities both within and outside of organization.

c) Analysis of career demand on the incumbent of skills, knowledge, abilities, aptitude, etc., and interms of qualifications, experience and training received etc.

69

d) Relating specific ob to different career opportunities.

e) Establishment of realistic goals both short term andlong term.

f) Formulating career strategy covering areas of changeand adjustment.

g) Preparing and implementing action plan including acquiring resources for achieving goals.

Varies stages of career planning and development are shown in figure.

Successful Matching

70

Mismatching

Advantage of Career planning and developmentFor individuals

1) It helps to the individuals to have the knowledge ofvarious career opportunities, his priority’s etc.

2) It helps to select career which is suitable for his life styles, preferences, family environment, scope for self-development etc.

3) It helps the organization identify internal employees who can be promoted.

4) Internal promotions, up-gradations and transfers motivate the employees; boost up their morale and also satisfaction.

5) Increase job satisfactions enhance employee commitment and create a sense of belongingness and loyalty to the organization.

6) Employee will await his turn of promotion rather than changing to another organization.

7) It helps to improve employee performance on the job by taping their potential abilities and further employee growth.

8) It satisfied employee esteem needs.

71

For organization

1) The efficient policies and practices improve the organization’s ability to attract and retain highly skilled and talent employees.

2) A proper Career Planning ensures that the woman and people who belongs to the backward communities get opportunities for growth and development

3) It continuously tries to satisfy the employee expectations and such as minimizes employeefrustrations.

4) By attracting and retaining the people from different cultures, enhances cultural diversity.

5) Protecting employee’s interest result s in promoting organizational good will.

7.3 Implementation of Career Planning

72

Career Planning is generally done by every organization. But method of career planning can differ.career planning for company’s employee, as follows:

Activity for Career Planning:

Training and development:

Most of the time company can try to retain the skilled employee, therefore company provide various type of knowledge or training, for company benefits as well as employee.

Transfer department to department or unit to unit

If any employee would like to work in specific department or unit for his skilled work and if it will beneficial for company then it’s also part of career planning.

Promotion

In career planning, promotion is also a one part. Toretain the skilled employee. Company makes promotion ofthis kind of employee.

Career planning at Officer’s levels:☻

For career planning company refer report of Performance appraisal, from that report they sort out an employee whose performance is above expectations. For this kind of employee they conduct career planning to retain that particular employee.

73

Analyze skill of worker:

They analyze skill of worker by performance appraisal’s report, and then they decide career planning of employee.

Transfer of worker:

They search about interest of employees in his work profile.And then they decide whether transfer of worker is suitable or not. Or change in work profile is suitable or not.

Promotion:

They decide about employee’s promotion if required and his trainingThey analyses whether training is required for employeeor not.As per the need of organization HR head make his careerplanning for promotion.

Use of performance appraisal report:

By Performance appraisal report, company can decide whether that employee should promote or not,

They can study about employee’s job satisfaction, his job skills, his talent etc.

Job enrichment

Most of the time company checks job enrichment of employee, to check capacity of work within a given time as well as their skills also. Job enrichment is helpful to increase skills in employee.

74

7.4 Succession Planning

Introduction

Success, growth and survival are the most importantresponsibilities of the top management of the organization. Succession planning is the activity connected with the succession of incumbents to fill the key positions in the organizations hierarchy as and when a vacancy arises. Succession planning focus on identification of vacancies and locating the probable successor. It provides the succession chart in respect ofa particular position. The succession planning ensures the availability of the right kind of the management staff at the right time and in the right position in order to provide for continued organizational vitality and strength.

What is Succession Planning?

Succession planning is the systematic identification and professional development of internal talent. Its goal is to cultivate internal human capital in preparation for assuming leadership roles and other key positions that may become vacant due to retirement, expected or unexpected separations.

For Succession planning for management staffing plans are required to be developed properly on an individual basis for all anticipated needs in the immediate year a head and also for key positions. The business plans must be reviewed to determine there effects on managerial needs. Succession planning is oneof the important functions of the top management. In fact the direct responsibilities of the chief executiveand the top management group.

For Example:

75

Suppose, Mr. A will retire within some days, from the post of “Production Manager” Then HR manager shouldplace right person who will able to carry liability of that post. For selection of right person as well as to give idea about job to candidate, mostly HR Manager prepare planning, like: HR Manager will place candidateunder supervision of Mr. A to learn difficult things ofjob, or he will give training to that candidate or he will search a candidate who already have idea about jobprofile of “Production Manager”, i.e. “Succession planning.”

In short when any employee or candidates leave job, HR manager should prepare plan to place correct candidate on that post.

What is need for succession planning: -

To make succession planning following points are important.

1) Job Information2) Job analysis3) Job profile4) Qualification and Experience define. Etc.5) Availability of candidate6) Analysis of Selection process

Benefits of Succession planning:1) Facilitates communication & knowledge management2) Uninterrupted work productivity3) Leadership continuity

1) Custom designed training programs

2) Candidate can understand job easily.3)

Challenges of Effective Succession Planning

76

Successful succession planning, as we've seen, is an ongoing and complex endeavor that is necessarily broad inscope. It therefore presents significant barriers to bothimplementation and long-term maintenance. Here are some of the more challenging obstacles:

MULTIPLE OWNERS:

Traditionally, HR has been considered owner of the succession planning process, but meaningful success really requires a genuine sense of ownership and commitment at many levels of the organization. While HRmay be best positioned to oversee the process, it can never fully know or evaluate every process participant the way managers and supervisors can.

NUMBER OF POSITIONS:

All but the smallest of organizations have a substantial number of positions critical to long-term performance, whether these involve leadership skills ortechnical expertise that would be difficult to quickly replace. Comprehensive succession planning must incorporate all such positions; yet, as the number of positions grows so too does the administrative burden.

STRATEGIC ALIGNMENT:

Succession plans need to reflect long-term organizational goals and strategies. Companies must give thoughtful consideration not only to the plan's design and implementation, but also to sustaining the process over time. As strategies and goals shift, so too must the plan if the organization is to recruit anddevelop the workforce its future success will require.

ORGANIZATIONAL COMPLEXITY:

Conglomerate, geographically dispersed, multi-industry, and other complex organizational forms significantly increase the challenge of succession planning. Often, higher-level positions require well-designed cross training to inculcate the unique

77

knowledge and skills success in the organization requires.

ORGANIZATIONAL CHANGE:

As companies evolve in response to marketplace threats and opportunities, the skills, talents, and expertise they will need to thrive evolve, as well.

EFFECTIVENESS & EFFICIENCY:

The larger and more complex an organization, the more challenging it is to maintain an effective and efficient succession planning process. Yet, by definition, the best process is the one that enables the firm to identify the best candidate in least amountof time and at the lowest cost.

Having this process in place is vital to the successof the organization because the individuals identified in the plan will eventually be responsible for ensuringthe company is able to tackle future challenges. These 'high potential' candidates must be carefully selected and then provided training and development that gives them skills and competencies needed for tomorrow's business environment.

Another reason its important is because these high potentials will one day become the leaders of the Company. This is why their development needs to incorporate a broad range of learning opportunities in your organization. The individuals should also be exposed to as much of the working environment as possible so that they gain a good understanding of whatthe company requires to remain successful.

78

7.5 Implementation of Succession Planning:

Succession panning is the planning to place a person on another employee’s place who will retire after one or two year. Succession planning is conduct in every organization. It is a part of Career planning.

Officer’s level:

At officer’s level Succession planning conduct by following methods.

1) Personal meeting Head of the department take the personnel meeting with the employee who is going to retire because he wants to know that employee’s opinion about to place new right candidate on his place.

2) Employee dialogue: Employee dialogue is a dialogue between employee (who will go to retire) and head of the department, regarding place new candidate at his post, which have ability to fulfill requirements of job.

3) Opinion of subordinate: The head of the department should consider the opinion of other staff or subordinate also.

Employee assessment centre

Introduction

79

This method was first applied in Germany Army in 1930. Later business and industrial houses started using this method. This is not a technique of aperformance appraisal by itself. In fact it is a systemor organization, where assessment of several individuals is done by various experts by using varioustechniques. In these approach, individual from various department are bought together to spend two or three days, working on an individual or group assignment similar to the ones they would be handling when promoted. Observers rank the performance of each and every participant in order of merit. Since assessment centre are basically meant for evaluating the potential of candidates to be consider for promotion, training and development, they offer an excellent means for a conducting evaluation process in an objective way. All assess get an equal opportunity to show their talent and capabilities and secure promotion based on merit. Since the evaluators know theposition requirements intimately and are trained to perform the evaluation process in an objective manner, the performance rating may find favor with majority of the employees. A considerable amount of research evidence is available to support the contention that people chosen by this method prove better than those chosen by other methods. The centre enable working in alow status department to compete with people from well-known departments and enlarge there promotional chances. Such opportunities, when created on regular basis, will go a long way in improving the morale of promising candidates working in less important positions.

Employee assessment centre:

Employee assessment is a committee of a Psychiatrist, advocate, consultant etc. there are 3 to 5 people on the committee. They give a one task to the

80

employee and he should complete that task within a given time e.g. Give a presentation on specific topic within half an hour.

Work of the Committee:

Mainly committee observes how employee can survive in specific situation. How he can handle situation.

They try to find out the tendency of employee.

They try to find out method of thinking of employee.

In employee assessment they consider only an officers career planning.

81

82

Chapter 8: Training and Development

Chapter 8: Training and Development

8.1 Meaning and Definition

Introduction

After an employee selected, placed and introduced her or she must be provided with training facilities. Training is the act of increasing the knowledge and skills of an employee for doing a particular job. Training is a short-term educational process and utilizing a systematic and organized procedure by which employees learn technical knowledge and skills for a definite purpose. Dale S. Beach Define training, “The organized procedure by which people learn knowledge and/or skill for a definite purpose.”

In other words training improves, changes, moulds the employee’s knowledge, skill, behavior, aptitude, and attitude towards the requirements of the job and organization. Training refers to the teaching and learning activity carried on for the primary purpose of helping members on an organization, to acquire and apply the knowledge, skills, abilities and attitudes needed by a particular job and organization.

Thus, training bridges the difference between job requirement and employee’s present specifications.

No organisat5ion matches the candidate who exactly matches with the job and the organizational requirements. Hence, Training is important to develop the employee and make him suitable to the job.

83

Job and organizational requirement are not static, theyare changed from time to time in view of technological advancement and change in the awareness of the total quality and productivity Management(TQPM). The objective of the TQPM can be achieved only through training as training develops human skills and efficiency. Trained employees would be a valuable assetto an organization.

Benefits of training

For organization

Lead to prove profitability and/or more positive attitudes towards profit orientation

Improves the job knowledge and skills at all levelof the organization

Improves the morale of workforce Helps people identify with organizational goal Helps create a better corporate image Aids in organizational development Learns from the trainee Helps to prepare guideline for work Organization gets more effective decision making

and problem solving It helps to improve labor-management relations.

Benefits to the individual which in turn ultimately should benefit the organization

Helps the individual in making better decisions and effective problem solving

Through training and development, motivational variables of achievement, growth, responsibilitiesand advancement are internalized and operationised

It helps to an individual to handle stress tensionor conflicts.

It provides information to improve leadership knowledge.

Develops a séance of growth in learning Improves morale Improves impersonal skills

84

8.2 Need for training

Need for training arises due to following reasons:4) To match the employee specification with the job

recruitment and organizational needs: An employee’s specification may not exactly suit to the requirement of the job and the organization irrespective of his past experience, qualifications, skills knowledge, etc. Thus every management finds deviation between employee’s presentspecifications and the job requirements and organizational needs. Training is needed to fill thisgap by developing and molding the employee’s skill, knowledge attitude behavior etc. to the tune of the job requirements and organizational needs.

5) Technological advances: Every organization in order to survive and to be effective should adopt the latest technology, i.e. mechanization, computerization, automation. Adoption of the latest technology means and methods will not be complete until they are manned by employees possessing skill to operate them.So, organization should train the employee to enrich them in the areas of changing technical skills and knowledge from time to time.

6) Human relations: Trends in approach towards personel management have change from the commodity approach topartnership approach, crossing the human relations approach. So, today, management of most of the organization has to maintain human relations besides maintaining sound industrial relations although hitherto the managers are not accustomed to deal withworkers accordingly. So, training in human relations is necessary to deal with human problems and to maintain human relations.

85

7) Change in the job assignment: Training is also necessary when the existing employee is promoted to the higher level in the organization and when there is some new job or occupation due to transfer. Training is also necessary to equip the old employees with the advanced disciplines techniques or technology.

The need for training also arises to:

Increase productivity Improve quality of the product / Services Help a company to fulfill its future personnel

needs. Improve organizational climate. Improve health and safety. Prevent obsolescence Effect the personnel growth Minimize the resistance to change.

Stages in training as follows

Stage 1 Assessment of training needs

Stage 2 Design the training program

Stage 3 Implementation.

Stage 4 Evaluation of training program.

86

8.3 Methods of Training

Methods of training

On-job methods Off-job methods

Job relations Lectures/ConferencesCoaching Films Job instruction Simulation Exercise

87

Training through CasesStep by step Programmed instructionsCommittee assignments Audio visual methodsInternship training Computer based training E-Learning.

The most widely used methods of training used by organizations are classified into two categories: On-the-Job Training & Off-the-Job Training.

ON-THE-JOB TRAINING It’s given at the work place by superior in relatively short period of time. This type of training is cheaper & less time-consuming. This training can be imparted by basically four methods: -

Coaching It is learning by doing. In this, the superior guides his sub-ordinates & gives him/her job instructions. The superior points out the mistakes & gives suggestions for improvement.

Job Rotation: - In this method, the trainees move from one jobto another, so that he/she should be able to perform all types of jobs. E.g. In banking industry, employees are trained for both back-end & front-end jobs. In caseof emergency, (absenteeism or resignation), any employee would be able to perform any type of job.

OFF THE JOB TRAINING: -

It is given outside the actual work place.

Lectures/Conferences:-

88

This approach is well adapted to convey specific information, rules, procedures or methods. This method is useful, where the information is to be shared among a large number of trainees. The cost per trainee is low in this method.

Films: -

It can provide information & explicitly demonstrate skills that are not easily presented by other techniques. Motion pictures are often used in conjunction with Conference, discussions to clarify & amplify those points that the film emphasized.

Simulation Exercise: -

Any training activity that explicitly places the trainee in an artificial environment that closely mirrors actual working conditions can be considered a Simulation. Simulation activities include case experiences, experiential exercises, vestibule training, management games & role-play.

Cases: -

Present an in depth description of a particular problem an employee might encounter on the job. The employee attempts to find and analyze the problem, evaluate alternative courses of action & decide what course of action would be most satisfactory.

Experiential Exercises: -

Are usually short, structured learning experiences where individuals learn by doing. For instance, rather than talking about inter-personal conflicts & how to deal with them, an experiential exercise could be used to create a conflict situation where employees have to experience a conflict personally & work out its solutions.

89

Vestibule Training: - Employees learn their jobs on the equipment theywill be using, but the training is conducted away from the actual work floor. While expensive, Vestibule training allows employees to get a full feel for doing task without real world pressures. Additionally, it minimizes the problem of transferring learning to the job.

Role Play: - It’s just like acting out a given role as in a stage play. In this method of training, the trainees are required to enact defined roles on the basis of oral or written description of a particular situation.

Management Games: - The game is devised on a model of a business situation. The trainees are divided into groups who represent the management of competing companies. They make decisions just like these are made in real-life situations. Decisions made by the groups are evaluated & the likely implications of the decisions are fed backto the groups. The game goes on in several rounds to take the time dimension into account.

In-Basket Exercise: - Also known as In-tray method of training. The trainee is presented with a pack of papers & files in atray containing administrative problems & is asked to take decisions on these problems & is asked to take decisions on these within a stipulated time. The decisions taken by the trainees are compared with one another. The trainees are provided feedback on their performance.

90

8.4 Implementation of training and Development:

Method of training: Method of training is totally depending upon the profile of training. E.g. for technical training if possible then they give on-job training otherwise company use method of off job training.

Procedure of training:

Assessment of need of training:

It is the first step of training procedure. Head of the department and HR department assess the need whether employee need training or not. They find employee who require training.

91

Prepare budget for training:

HR manager decide budget for training by considering its cost from the market. And benefits for the company.

Search for Internal or External trainer:

Internal Trainer: After assessment of need of training, they search for a trainer in theirs company who can train there employee. They search trainer amongtheir employees.

External trainer:

If they didn’t find internal trainer then they gofor External trainer. They try to find external professional trainer from their personnel contact, by giving advertisement in news paper etc.

Design program for training:

HR manager or head of the department present there need to trainer. They assess type of training and design training program by the help of trainer within the budget.

Report to head of the plant: HR manager give the details about training to head of the plant and sanction the approvalof training.

Implementation: After designing the program for training, they implement in practical in their employee.

92

93

Chapter: 9

94

Chapter 9: Collection,

analysis & interpretation of

Introduction of Data Analysis. The word Analysis means the process of

breaking down a Complex set of facts into simple element

while Interpretation stands for the explanations which

analyzed the statements and also make out or bring out

the meaning of creative work.

Analysis and Interpretation are done according

to department wise and according to questionnaire. This

analysis and Interpretation will definitely help to the

company for the future strategies. Following are the

analysis and Interpretation of the results.

These all analysis is imagine for general company.

It is very necessary to understand the psychological

tendency of employee. Because it is a quietly subjective

so it will slightly deviate the opinion of the employee.

The Department of the company where I conduct

survey. There are 100 employees in each department. Total

employees are 500.

1. Purchase

2. Finance

3. Production

4. Packing and dispatch

5. Research and Development

95

Table No 9.1

Survey in Purchase Department:

Option Responses PercentageYes 70 70No 30 30(Source: Primary data: Questionnaire)

96

Figure No. 9.1/7(Source: primary data survey

questionnaire)

INTERPRETATION: -

The above pie-diagram shows that 70% of employees of

purchase department are highly satisfied with the Talent

Management process. Hence, we can say in Purchase

department talent management is effective process for

employee as well as organization.

Survey in Finance Department:

Option Responses PercentageYes 72 72

97

No 28 28(Source: Primary Data: Questionnaire)

Figure No. 9.2/7(Source: primary data survey

questionnaire) INTERPRETATION: -

The above pie-diagram shows that 80% of employee of

finance department are highly satisfied with the Talent

Management process, 10%are satisfied, 6% are natural,

4%are dissatisfied. Hence, we can say in Finance

98

department, talent management is effective process for

employee as well as organization.

Survey in Production Department:

Option Responses PercentageYes 65 65No 35 35

Figure No. 9.3/7 (Source: primary data survey

questionnaire) INTERPRETATION: -

In Production department we

can observe that 65% employee are answering ‘Yes’, they

getting exposure to show there talent in company. And

99

35% employees are answering ‘No’. means here, more than

60% employee answering ‘Yes’ means process of talent

management is effective in this department.

Survey in packing and dispatch Department:

Option Responses Percentage

Yes 86 86No 14 14

100

Figure No. 9.4/7 (Source: primary data survey

questionnaire)

INTERPRETATION: -

In Production department we

can observe that 86% employee are answering ‘Yes’, they

getting exposure to show there talent in company. And

14% employees are answering ‘No’. means here, more than

60% employee answering ‘Yes’ means process of talent

management is effective in this department.

101

Survey in Research and development Department:

Option Responses Percentage

Yes 72 73No 28 15

Figure No. 9.5/7 (Source: primary data survey

questionnaire) INTERPRETATION: -

In Production department

we can observe that 72% employee are answering ‘Yes’,

they getting exposure to show there talent in company.

And 28% employees are answering ‘No’. means here, more

102

than 60% employee answering ‘Yes’ means process of talent

management is effective in this department.

Employee’s performance before implementing Talent

Management concept:

Departme

nt

Good Bad

Purchase 61 39Finance 52 48

Production 62 38R & D 45 55

Dispatch 68 32

103

Figure No. 9.6/7(Source: secondary data average

performance appraisal report of employee.)

Employee’s performance after implementing Talent

Management concept:

Departme

nt

Good Bad

Purchase 75 25Finance 90 10

Production 85 15

104

R & D 80 20Dispatch 70 30

Figure No. 9.7/7(Source: secondary data from

average performance appraisal report of

employee.)

INTERPRETATION: -

In above both diagram we can compare performance of

all department, before implementing concept of talent

management and after implementing concept of talent

management. We can observe that, performance of all

departments is increase after implementing talent

management concept.

105

106

Chapter 9: Conclusionand testing of hypothesis

9.1 Testing of Hypothesis

Talent Management has been developed as a platform for

corporate world to manage talents of employee, for

company benefits.

From above surveys and changes in performance report

getting follows information:

For company talent management is effective

process.

Talent management is effective for

Company if:

Remark from “ Data of Analysis”

= Yes OR X = No

Quality of the Product increase.

Ratio of employees to left job is

decrease, and new candidate are

increase in organization.

Employee getting satisfaction from the

job

Complaints of employee reduced.

107

Above table show that all the criteria set for

Company, to show effective talent management process,

which is helpful to employee as well as organization.

Therefore project is proved the its Null

hypothesis & disprove the alternative hypothesis.

Null Hypothesis: Employee taking benefits from Talent Management

System

Employee can retain successfully for the benefit oforganization

Employee’s performance increased by talentmanagement

Employee turnover of organization affected by TalentManagement Procedure

Conclusion

Talent Management for the HR Community is an opportunity for HR professionals to develop in their areas of expertise and in their careers. A strong HR Community helps create a strong public service. The goal of talent management is to better understand our people in the HR Community so we can support professional and

108

career development and align individual needs and goals with the business focus of HR. We also want to ensure that we as a Community have the agility to develop peopleso that we are meeting the future needs of the community and government and our clients. This first broad sweep ofthe Community provides a foundation on which to ensure leadership continuity, knowledge transfer and service continuity. The initialimplementation resulted in a number of important human resource priorities and strategies, such as performance management, leadership and management development, attraction and retention, employee learning and development and culture, all of which are supported by the HR Strategy for the HR Community.The critical next step in the process is the implementation of the Talent ManagementPlan for the HR Community. Individually, members of the community and their managers should work together to moveforward individual career development plans.The HR Community must work together to promote a talent management mindset,commit to supporting development as a professional group,and integrate talent management into the daily fabric of doing business.

1) Recruitment

We understand it help to ensuring the right people are attracted to the organization.

2) Retention

We understand it help to developing and implementingpractices that reward and support employees.

3) Employee development

Talent Management ensuring continuous informaland formal learning and development.

4) Performance management

109

Talent Management is specific processes that nurture and support performance, including feedback/measurement.

5) Workforce planning

It use to make planning for business and general changes, including the older workforce and current/future skills shortages.

110

Chapter 10: Suggestion and recommendatio

Chapter 10: Suggestion and Recommendation

1) Organization should make research to avoid talent drain.

2) HR Department should interact and expose inbound employee

3) Perform various task to motivate employee for work, because various employee can not work with motivation they just do it, because organization pay for them.

111

112

Chapter 11: Appendices

(In this project following form are prepare for survey.)

Company Workshop

113

Name of Employee:

Roll No.

Department:

Designation:

Joining Date:

Qualification:

114

Questionnaire:

1) Do you feel satisfaction while you complete your work?

Yes No

2) Can you complete your work within a time?

Yes No 3) Can you perform work with interest?

Yes No

4) At any time do you feel that you wasting your time?

Yes No

5) Anywhere do you feel that, you doing a bullock work?

Yes No

6) Do you feel that you select wrong field to work?

Yes No

Any other feedback or suggestions by employee:

115

Chapter 11: Bibliography

I am overwhelmed in presenting my summer project

report in

Company LTD, Nasik works for this I wish to express my

deep sense of gratitude for following web sources and

authors to take there references for these project.

Books:

1) Human Capital Management ----- Garry Desslar (P

542)

2) Human Resource Management ---- Himalaya Publications

(P 386)

3) Human Resource Management --- Oxford Higher

education ( p74)

4) Human Resource Management System ----- Prof. Mr.

Subbarao (P, 243)

116

Web Sources:

1) Oneclickhr.com

2) Weckipedia.com

3) Google.com

4) Reddiff.com

117