Talent DNA- A Mechanism to Make Accurate Decision on Talent Needs
Mr. A.K. Jha1, Dr. Sanjay Awasthi2, Dr. Shantanu Paul3
1H.O.D and Asst. Professor, Dept. of Management,
Vivekanand Mahavidyalaya, Raipur (C.G.)
2H.O.D. and Asst. Prof., Dept. of
Management, Pt. Harishankar Shukla College, Raipur
3H.O.D. and Asst. Prof., Dept. of Commerce,
Pt. Harishankar Shukla College, Raipur
*Corresponding Author E-mail: ashokjha2007@rediffmail.com;
awasthi_sanjay@yahoo.com
ABSTRACT:
In today’s global economy,
companies must continually invest in human capital. In the role of business
partner, HR leaders work closely with senior management to attract, hire,
develop and retain talent. A talent management system must be worked into the
business strategy and implemented in daily processes throughout the company as
a whole. The term Talent Management
was coined by McKinsey and Company following a 1997 study. For this research
descriptive type of research design will be used. Research done on the value of
talent management consistently uncovers benefits in these critical areas:
revenue and talent quality. Three views are important for talent management. A
second perspective on talent management focuses primarily on the concept of
talent pools. Talent pool is a long term asset for organization today.
Effective talent management system is
fully based on the concept of talent
DNA. In this regards talent DNA play an important role and fulfill aspiration
of all corporate heads.
The
issue with many companies today is that their organizations put tremendous
effort into attracting employees to their company, but spend little time into
retaining and enhance talent..In today’s global economy, companies
must continually invest in human capital. In the role of business partner, HR
leaders work closely with senior management to attract, hire, develop and
retain talent. Yetthe skills shortage presents both
socio-economic and cultural challenges as talent crosses borders. A talent
management system must be worked into the business strategy and implemented in
daily processes throughout the company as a whole. It cannot be left solely to
the human resources department to attract and retain employees, but rather must
be practiced at all levels of the organization. The business strategy must
include responsibilities for line managers to develop the skills of their
immediate subordinates. Divisions within the company should be openly sharing information
with other departments in order for employees to gain knowledge of the overall
organizational objectives. Research done on the value of talent management
consistently uncovers benefits in these critical areas: revenue and talent
quality.
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
strong emphasis on retention.
Emergence of "Talent
Management
The term Talent
Management was coined by McKinsey and Company following a 1997 study. It was
later the title of a book by Ed Michaels, HelenHandfield
-Jones, and Beth Axelord however the connection
between human resource development and organizational effectiveness has been
established since the 1970s.It is difficult to identify the precise meaning of
“talent management” because of the confusion regarding definitions and terms
and the many assumptions made by authors who write about TM. The terms “talent
management”, “talent strategy”, “succession management”, and “human resource
planning” are often used interchangeably. Consider, forinstance,
the following statements regarding processes for managing people in
organizations:
…ensure the right person is in the right job at the right time
(Jackson and Schuler, 1990, p. 235);
…a deliberate and systematic effort by an organization to ensure
leadership continuity in key positions andencourage
individual advancement (Rothwell, 1994, p. 6);
…managing the supply, demand, and flow of talent through the human
capital engine (Pascal, 2004, p. ix),
-“talent management” as “a mindset” (Creelman,
2004, p. 3);
- A key component to
effective succession planning (Cheloha and Swain,
2005);
-An attempt to ensure that
“everyone at all levels works to the top of their potential” (Redford, 2005, p.
20)
Olsen offers a characteristic view, “A company's traditional
department-oriented staffing and recruiting process needs to be converted to an
enterprise wide human talent attraction and retention effort”. (Olsen, 2000, p.
24).
Perspective on Talent management
In the first view Talent
management implies that companies are strategic and deliberate in how they
source, attract, select, train, develop, retain, promote, and move employees
through the organization. From a talent management standpoint, employee
evaluations concern two major areas of measurement: performance and
potential. Current employee performance within a specific job has always
been a standard evaluation measurement tool of the profitability of an
employee.
A second perspective on talent management focuses primarily on the
concept of talent pools. TM, to these authors, is a set of processes designed
to ensure an adequate flow of employees into jobs throughout the organization (Kesler, 2002; Pascal, 2004; “The changing face of talent
management”, 2003). These approaches are often quite close to what is typically
known as succession planning/management or human resource planning (Jackson and
Schuler, 1990; Rothwell, 1994) but can also include
typical HR practices and processes such as recruiting and selection (Lermusiaux, 2005).
A third perspective on TM focuses on talent generically; that is,
without regard for organizational boundaries or specific positions. Within this
perspective two general views on talent emerge. The first regards talent (which
typically means high performing and high potential talent) as an unqualified
good and a resource to be managed primarily according to performance levels.
Objectives of the Study
1. To find out the value and
advantages the organization can get through talent management.
2. To evaluate the need of Talent
DNA in organization..
3. To highlight the usages and impacts of Talent
DNA in organizations.
Research Methodology
For this research descriptive type of research design will be
used. The source of DATA is collected from secondary sources which were collected
from various magazine, survey reports, websites, and journal articles.
Growth Drivers of Effective
Talent Management
1. Develop an integrated,
proactive strategy: in the current corporate sectors, HR manager want to
give best work for organization .in his/her view “employer of choice” status as
an outcome of coherent corporate culture rather than ad-hoc programs.
2. Involvement in talent
attraction and retention-Balance grassroots involvement in talent
attraction and retention with management accountability.
3. The competitive climate-Know
the company’s business environment and plans for growth, merger, divestiture,
new products or technologies and project their impact on immediate and
longer-term talent needs.
4. Difficulties in
attraction and retention-Know what factors contribute to: make base
initiatives on the real concerns of employees. Raw numbers on turnover can show
where retention problems are but not what they are.
5. Balancing retention
factors in definite place in organization, especially in strategy formulation
stage t he mix of compensation and nonfinancial motivators.
6. Track turnover: Know
its costs and where they are the greatest and convey them to management to
support the business case for retention.
7.Current employees
branding–pick Market share for the company and its Current employees
branding to as vigorously as to the outside talent pool.
FIG.1.
Growth Drivers of talent
management
Transforming idea into action- In the beginning time human
resources department carried out their
business function like payroll, benefits ,but due to the evolution and technology up gradation
these personnel department changing dynamically their factions in strategic HR
functions like recruiting, org. design etc. and furthermore it converts role of
talent in talent management through
transform idea into action phenomenon.
FIG.2. Evolution of HR[idea into action] Chart
Concept of Talent DNA
Effective talent management system is fully based on the concept
of talent DNA, for balancing the notion of organizational demand and talent
supply, and further more capabilities and need are two core elements are must.
The Talent DNA model provides a mechanism to make accurate decision on Talent
Needs. The blue print of talent management comprises of two parts, one is
talent DNA which is the gist and the
second one is \ performance management, career planning, compensation,
learning, workforce planning, succession is the integral part of talent
management. For the support, one example can be cited here that notable script
writers expressed in their views that it
was only Mr. Amithabh Bacchan
the sole actor who could performed angry
young man role in zanzeer picture successfully. One another
example is also being cited here ie Mr. Sachin Tendulkar renowned cricket player, at very early
age his elder brother Mr. Ajeet Tendulkar
clearly identified the special character [talent DNA] present in him for Cricket. Record are broken by him and create new history .it
shows the everybody has specific DNA
which exhibit nature to do justice with games and best return in the realm of cricket to society in the lifetime. This concept adopted by so
many organization in the world for achieving best talent pool in corporate area
and give best to society and nation. Sachin Tendulkar was not fully success in other sports. So talent
DNA plays an important role in searching talent for organization.
Component of talent DNA
Talent DNA consist of three component: ie
1. Capability
2. Role or center of demand
3. Talent or people
Capability-Every organization required some
element which is essential for organizational development are as follows:
1. Skillful and capable talent pool,
2. Every organization demanded nice
behavior employees.
3. Able to do work perfectly and
having a lot of knowledge.
Fig. 3. Component
of Talent DNA
Role–Every talent plays an important role for
an organization time to time for smooth conduction.
1.
Every organization searched those type of talent that fulfill the
job position.
2.
Fulfilled the leadership role time to time for organization.
Talent or People
1. Talent management demands
comprehensive talent profile for organizational Purpose.
2. Talent must have fulfilled all
education, skill, experiences and competences need.etc.
CONCLUSION:
When HR process fulfill the need of organization timely and
effectively then there is no need to search new and best talent for
organization. But now a days talented people in any organization they retain it or have it , build it or buy it for
organizational development perspective. Every employees is an assets for
organization but this assets is not retained for a long time due to heavy
competition, technological advancement and facilities provided by organization.
Talent pool is a long term asset for organization today, in this regards talent
DNA play an important role and fulfill aspiration of all corporate heads.
REFERENCES
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Gandossy, R.,
and Kao, T. (2004). Talent wars: Out of mind, out of practice. Human Resource
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SHRM HR Glossary, www.shrm.org
The changing face of talent management.
(2003). HR Focus 80, 1−4.
www.google.com
Received on 20.01.2014 Modified on 31.01.2014
Accepted on 10.02.2014 © A&V Publication all right reserved
Asian J. Management 5(2):
April-June, 2014 page 218-220