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AProject report
on
Talent Management Survey
In
COMPANY Ltd.
in partial fulfillment of the requirements for the
degree of
MASTERS OF BUSINESS ADMINISTRATION
SUBMITTED TO: SUBMITTED BY:
Ms. CHARU AGGARWAL CHAMANDEEP KAUR
GURINDER SINGHMBA 2ND A
CHANDIGARH BUSINESS SCHOOL,
GHARUAN, MOHALI.
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PREFACE
The project topic is A study on customer satisfaction level towards the
product of HUL has been conducted to fulfill the requirement as is imposed
by PUNJAB TECHNICAL UNIVERSITY, JALANDHAR in support of
MASTERS OF BUSINESS ADMINISTRATION. This system of education is
highly appreciated as it provides students with an opportunity to acquaint
themselves with various aspects in practical as have studied in courses
during post graduation. This support concern with Customer satisfaction level
towards HUL products is prepared on the basis information collected by
survey in some areas of Chandigarh. The aim of the study was to have in
depth knowledge of various aspects of customer preferences about HUL
products in their mind. This report is made by me but with the help, guidance
and suggestions of some very experience and intellectual persons. The
required information was obtained from the survey through the questionnaire
as well as the secondary sources like internet, magazines and annual reports.
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CERTIFICATE
This is to certify that this project entitled A study on the customer
satisfaction level towards the products of HUL has been completed byCHAMANDEEP KAUR DHALIWAL AND GURINDER SINGH in
partial fulfillment of the degree of MASTERS OF BUSINESS
ADMIISTRATION of PUNJAB TECHNICAL UNIVERSITY,
JALANDHAR and no other part of this project has been submitted for
any other degree.
Ms. CHARU AGGARWAL
MBA
CHANDIGARH BUSINESS SCHOOL,
GHARUAN, MOHALI.
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ACKNOWELEDGEMENT
I take this opportunity to offer my deep gratitude to all those who
have extended their valued support and advice to complete this project. I
cannot in full measure reciprocate the kindness showed and contributionmade by various persons in this endeavor.
I acknowledge my sincere thanks to Ms.
who stood behind me as a pillar of strength throughout the course of work
and under whose guidance the project arrives out successfully. I am
grateful to her for her valuable suggestions.
I owe my debt to Ms. for her regular
encouragement and time to time consideration at every stage. I would like
to thanks each and every person who helped me in this project.
(sign)
CHAMANDEEP KAUR
GURINDER SINGH
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CONTENTS
Introduction
Objectives
Review of Literature
Limitations
Analysis and Interpretation
Conclusion
Suggestions
Bibliography
Annexure
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Talent Management Survey
Index
7
Sr. No. Contents PageNo.
1 Chapter 1: Introduction
1.1 Object of the project
1.2 Introduction of study
1.3 Objectives of the study
1.4 Rationale of the study
1.5 Scope of the Project
1.6 Limitations of the Study
7-11
2 Chapter 2: Research Methodology
Review of literature
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
organization
3.3 Flow Chart of the organization
3.4 Mission of the organization
18-25
4 Chapter 4: Introduction of Talent
Management
4.1 Introduction of Talent Management
4.2 Talent Management v/s Traditional HR
Approach
4.3 Understanding Talent
4.4 Human Capital Management
26-30
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8
Sr.
No.
Name of Chapter Page
No.5 Chapter 5: Talent Management
5.1 Meaning and Definition of Talent Management,
Importance of Talent
Management.
5.2 Challenges of Talent Management,
5.3 How to Manage Talent?
5.4 Steps involved in Talent Management Process
31-42
6
Chapter 6: Performance appraisal6.1 What is Performance appraisal?
6.2 Methods of Performance appraisal
6.3 How performance appraisal conduct in Company
Ltd.
43-49
7
Chapter 7: Training and Development7.1 Training and development: Meaning, Definition,
Procedure, method.
7.2 How training is necessary for Development
7.3 Method of training
7.4 How training is conduct in Company ltd. Nasik?
Documentation and procedure for training in
Company ltd. Nasik.
61-69
8 Chapter 8: Conclusion and testing of
hypothesis
9 Chapter 9: Suggestions and
recommendations
10 AppendicesI Questionnaire
II Bibliography
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9
9
Chapter 1: Introduction
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1.1 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 suits a 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 benefits from: Increased productivity and
capability; a better linkage between individuals' efforts and business
goals; commitment of valued employees; reduced turnover; increasedbench 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 of all - 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 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.
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1.2 Objectives of Study:-
In the current scenario of cutthroat competition, every company has
to survive to satisfy its customers by 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 Management process.
1.1 Rationale of the study
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The talent in an organization refers to the current employees and their
valuable
Knowledge, skills and competencies. Talent management (or succession
management) is the ongoing process of analyzing, developing andeffectively utilizing talent to meet 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 its own professional group, but it also recognizes
and will support the role human resource professionals have to help theirclients 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 people to 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 and career
development needs of our people in order to develop a comprehensive
Talent Management Plan.
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1.2 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 duringsurvey any activity of organization which is directly or indirectly
related to the production process should not disturb due to survey.
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Chapter 2: Research
Methodology
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Research Methodology
Research Methodology is a way to systematically solve the research
problems. It may be understand as a science of studying how research isdone 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. Thats why data
collecting the appropriate data, which differ considerable in context
money, cost, time and other resources at the disposal researcher.
There are two types of data collection methods available:-
1) Primary Data Collection Method.
2) Secondary Data Collection Method.
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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 ofCompany, This data helped me to justify the statements that have made
in this project.
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.
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Chapter 3: Profile of the
Organization.
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3.1 History of Company
Founder of Company-Werner von Company
Born- 13 Dec. 1816 to 6 December 1892
Company was founded by Werner von Company on 12 October,
1847. Based on the telegraph, his invention used a needle to point to thesequence 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 Frankfurt am 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.
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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 line linking
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 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.
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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 highest standards of technological competence that
Company has been a synonym for, right since inception.
3.4 Company in India
Company association with India began in 1867 when WernerVon-
Company personally supervised the laying of the first sub marine
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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 countrys priorities its own, Company
has put its experience and expertise in areas of national importance.
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 worlds latest
developments in every field. This Combined with its experience in India
makes Company the ideal partner for catalyzing the countrys progress.
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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
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Medical technology Transportation and Automotive
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Trains and Trams Water Technologies
Building Technologies Home Appliances
Fire Alarms IT Services
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Financing Construction
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Chapter 4: Introduction of
Talent
Management.
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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 deploypeople who can articulate the passion and vision of the organization and
make teams with the energy to perform at much 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 1990s 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.
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 theRIGHT JOBS.
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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. Companiesthat are engaged in Talent Management are strategic & deliberate in how
they recruit, manage asses, develop & maintain an organizations most
important resource its PEOPLE. This term also incorporates how
companies drive performance at the individual level.
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 term talent managementmeans different things to different 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 potential.
The major aspects of talent management practiced within an
organization must consistently include.
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performance management
leadership development
workforce planning/identifying talent gaps
recruiting
This term of talent management is usually associated with
competency-based human resource management 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, 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).
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Chapter 5: Talent
Management
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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 suits a 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 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 about and contribution to company
goals; sustained motivation and job satisfaction.
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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 of all - 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, technologycan 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. The biggest problem is how to retain the present
workforce and stop them from quitting
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 needfor 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:
The knowledge era has necessitated the retaining of those talents
which have the ability to assimilate new technologies and knowledge,which are growing at a pace never seen before.
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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. Its 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
Its ensuring that right people are attracted to the organization,
due to providing exposure for there skills.
Retention
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
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Specific development programs for existing and future leaders.
Performance management
Specific processes that nurture and support performance, includingfeedback/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 tofind new people and second is how 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 organizationsgo in for massive recruitment. But, the question is where to find the best
talent which is able to fit the job description and also adjust to the
organizations values and norms. If we scan the environment, we find
there is a shortage 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 developedcountries, where a large chunk of its population is nearing the age of
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retirement or is over 50 years. 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 between industry requirements and educational preparation.
Cost Factor:
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 motivated by 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 existing employees?
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
professionals hop 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 its the people that add value to organizations. It is also a
fact that humans are a restless species who, unlike the immovable Banyan
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Tree, cannot stay rooted in one place. People need to move on for one
reason or another, and the organization stands to lose.
Let us look at some of the reasons behind the massive attrition rates:
-
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 a democratic 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 problems like 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 arelooking for talented employees and who are ready to shell out a
hefty salary for a talented person. Other lures like better job
opportunities, higher posts and overseas assignments are 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.
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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 talentedemployees.
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.
Also it takes some time for the new employee to adjust to the 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 andknowledge, talent is in the driving seat. One who possesses it dictates.
Not he who pays for it. It is the demand of the time that business leaders
elevate 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, to be efficient and competitive in this
highly competitive world: -
Hire the Right People:
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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 substitute by hiring from other organizations. Questions to be
asked at this stage are: Whether the person has the requisite skills needed
for the job? Whether the person's values and goals match with those oforganizations? 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 orwork 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.
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 is providing them with salarycommensurate 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:
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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 the available talent, they
should be provided with adequate time to relax, so that they can did-stress
themselves. It is very important to provide them with holidays and all-
expenses-paid trips, so that they can come back refreshed to 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 work area
will also reduce the work life stress of the employees and developcamaraderie 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:
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Talent+
Vision/Mission/Strategy+
Skills & Competencies+
Role & structure
+Opportunity
+Encouragement & Recognition
+Training & Development
+Coaching
+Action Plan & Goals
+
ResourcesPerformanceManagementSystem
Performance
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Thus the domain of talent management focuses not only on
development of individuals intrinsic capacities, but also on culture
building and change management to provide the other elements listed
above for manifestation of 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 factorscoupled with the need to align people directly
with corporate goalsare forcing HR to evolve from policy creation,
cost reduction, process efficiency, and risk management to driving a
new talent mindset in the organization.
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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.
With this view, talent management may be defined as the
implementation of integrated strategies or systems designed to improve
processes for recruiting, developing and retaining people with the
required skills and aptitude to meet current and future organizational
needs.
Taleos graphical representation emphasizes the mandate of talent
management to respond to business goals and consequently be thedriver of business performance. Talent management is depicted as a
circularnot a linearset 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 processesand technologies. The future of talent management is embodied in
solutions designed from the ground up to provide business-centric
functionality on a unified 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 business
objectives while significantly reducing process costs, improving qualityof hire, reducing risk, and achieving higher levels of performance.
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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. Thats when talent truly drives higher
business performance.
Indirect implementation of Talent Management in
Company Ltd., Nasik Works. By following Steps:
Performance appraisal
Career Planning
Succession Planning
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Training and Development
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6.1 What is Performance Appraisal?
Meaning: - Performance appraisal is a method of evaluating the behavior
of employees in the work spot, normally including both the quantitative
and qualitative aspects of job performance. Performance here refers to the
degree of accomplishment of the tasks that make up an individuals job. It
indicates how well an individual is fulfilling the job demands. Often the
term is confused with effort, but performance is always measured in terms
of 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 salary fixation, confirmation,
promotion, transfer and demotion are taken.
(2) Provide feedback information about the level of achievement
and behavior of subordinate. This information helps to review
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the performance of the subordinate, rectifying performance
deficiencies and to set new standards of work, if necessary.
(3) Provide information, which helps to counsel the subordinate.
(4) Provide information to diagnose deficiency in employee
regarding skill, knowledge, determine training and
developmental needs and to prescribe the means for employee
growth provides information for correcting placement.
(5) To prevent grievances and in disciplinary activities.
Purpose
Performance appraisal aims at attaining the different purpose.
They are:
(1) To create and maintain a satisfactory level of performance.
(2) To contribute to the employee growth and development through
training self and management development programs.
(3) To help the superiors to have a proper understanding about their
subordinates.
(4) To guide the job changes with the help to continuous ranking.
(5) To facilitate fair and equitable compensation based on
performance.
(6) To facilitate for testing and validating selection tests, interview
techniques through comparing their scores with performance
appraisal ranks.
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(7) To provide information for making decisions regarding lat off,
retrenchment etc.
(8) To ensure organizational effective through correcting employee
for standard and improved performance, and suggesting thechange in employee behavior.
6.2 Methods of Performance Appraisal:
The methods of performance Appraisal are basically classifiedas Traditional Methods, Modern Methods and result Oriented
Appraisal: -
a) The Traditional Methods consists of Graphic Rating Scales,
Ranking Method, Paired comparison Method, Forced
Distribution Method, Checklist method, Essay or free from
APPRAISAL, Group Appraisal and confidential Report.
b) Modern Methods of evaluating performance appraisal areBehaviorally Anchored Rating Scales, Assessment Center,
Human Resource Accounting, Management by objectives,
Psychology Appraisal.
Uses of Performance Appraisals:-
Performance Improvement: Performance feedback allows the
employee, manager, and personnel specialists to intervene with
appropriate actions to improve performance.
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Compensation Adjustments; Performance evaluations help
decision-makers determine who should receive pay raises. Many
firms grant part or all of their pay increases and bonuses based
upon merit, which is determined mostly through performance
appraisals.
Placement Decisions: Promotions, transfers, and demotions are
usually based on past or anticipated performance. Often
promotions are a reward for past performance.
Training and Development; Poor performance may indicate the
need for retraining. Likewise, good performance may indicate
untapped potential that should be developed.
Career Planning and Development: Performance feedback
guides career decisions about specific career paths one should
investigate.
Staffing Process Deficiencies: Good and Bad performance
implies strength or weakness in the personnel departments
staffing procedures.
Informational Inaccuracies: Poor performance may indicate
errors in job analysis information, human resource plans, or
other parts of the personnel management information system.
Reliance on inaccurate information may have led to
inappropriate hiring, training, or counseling decisions.
Job Design Errors: Poor performance may be a symptom of ill-
conceived job designs. Appraisals help diagnose these errors.
Equal Employment Opportunity: Accurate performance
appraisals that actually measure job related performance
ensure that internal placement decisions are not
discriminatory.
External Challenges: Sometimes performance is influenced by
factor outside the work environment, such as family, financial,health, or other personal matters. If uncovered through
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appraisals, the human resource department may be to provide
assistance.
Feedback to Human Resources: Good/bad Performance
throughout the organization indicates how well the humanresource function is performing.
Traditional and modern Methods of Performance Appraisal
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METHODS OF PERFORMANCE APPRAISAL
Traditional methods ModernMethods
1) Graphic rating scales 1) Behaviorally anchored ratingscales2) Ranking Method 2) Assessment centers3) Paired comparison method 3) Human Asset accounting method
4) Forced distribution method 4) Management by Objectivesmethod5) Checklist methods 5) 360 Performance appraisalmethoda) Simple Checklistb) Weighted checklistc) Critical incident method
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6.3 How implement performance appraisal.
Introduction
Now a days Performance appraise is very important from company
point of view. It is use to take various managerial decision. E.g.
decision regarding employees increment or decision regarding
employees future career planning etc. In Company they use Grading
and Ranking method to appraise performance of there employee.
Who Appraise
Performance appraise by Head of the department or from
the superior. They did not conduct performance appraisal on officers
level it conduct only on officers basis.
In Company Performance is appraising by head of the department,
Supervisor, manager, etc.
Process:
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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 thedepartment can talk with that employee regarding increase performance.
Even Hr Manager also should talk with that employee to know his
problem and HR Manager 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 employees career planning from
performance appraisal report.
Succession planning:
From performance appraisal Report Company can select candidate
to make succession planning.
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Benefits of employee to company
Companys employee are companys asset, it is helpful to
calculate that companys employee how much give returns to company.Or which employee is beneficial for company and which is not beneficial.
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7.1 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 theknowledge 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 employees
knowledge, skill, behavior, aptitude, and attitude towards the
requirements of the job and organization. Training refers to the teaching
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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
employees 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.
Job and organizational requirement are not static, they are 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 asset to 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 level of 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.
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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, responsibilities
and advancement are internalized and operationised
It helps to an individual to handle
stress tension or conflicts.
It provides information to improve
leadership knowledge.
Develops a sance of growth inlearning
Improves morale
Improves impersonal skills
7.2 Need for training
Need for training arises due to following reasons:
1) To match the employee specification with the job recruitment
and organizational needs:
An employees 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 employees present
specifications and the job requirements and organizational needs.
Training is needed to fill this gap by developing and molding the
employees skill, knowledge attitude behavior etc. to the tune of the
job requirements and organizational needs.
2) 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.
3) Human relations:
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Trends in approach towards personel management have
change from the commodity approach to partnership 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 themanagers are not accustomed to deal with workers accordingly. So,
training in human relations is necessary to deal with human
problems and to maintain human relations.
4) 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.
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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.
7.3 Methods of Training
Methods of training
On-job methods Off-job methods
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Job relations
Lectures/ConferencesCoaching
Films Job instruction
Simulation Exercise
Training through
Cases
Step by step Programmed
instructions
Committee 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-JobTraining.
ON-THE-JOB TRAINING
Its 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
Itis 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 job to 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
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case of 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:-
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, managementgames & role-play.
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 experientialexercise could be used to create a conflict situation where employees
have to experience a conflict personally & work out its solutions.
Vestibule Training: -
Employees learn their jobs on the equipment they will 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.
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Role Play: -
Its 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 back to 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 a tray 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.
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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
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Chapter 8:Collection, analysis &
interpretation of data
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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
Table No 8.1
Survey in Purchase Department:
Option Responses PercentageYes 70 70No 30 30
(Source: Primary data: Questionnaire)
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70%
30%
Survey in Purchace Department
Yes No
Graph No8.1
Figure No. 8.1/7(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:
(Source: Primary Data: Questionnaire)
60
Option Responses Percentage
Yes 72 72No 28 28
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72%
28%
Survey in Finance Department
Yes No
Graph No 8.2
Figure No. 8.2/7(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 department, talent
management is effective process for employee as well as organization.
Survey in Production Department:
Option Responses Percentage65 65
No 35 35
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65%
35%
Survey in Production Department
Highlly Satisfied
Satisfied
Graph No 8.3
Figure No. 8.3/7 (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 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
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Survey in packing and dispatchDepartment
86%
14%
Yes No
Figure No. 8.4/7 (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.
Survey in Research and development Department:
Option Responses Percentage
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Yes 72 73No 28 15
Survey in Research and development
Department
72%
28%
Yes No
Figure No. 8.5/7 (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 than 60% employee answering
Yes means process of talent management is effective in this department.
Employees performance before implementing Talent Management
concept:
Department Good Bad
Purchase 61 39Finance 52 48
Production 62 38
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R & D 45 55Dispatch 68 32
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Purchase Finance Production R & D Dispatch
Bad
Good
Figure No. 8.6/7(Source: secondary data average performance
appraisal report of employee.)
Employees performance after implementing Talent Management
concept:
Department Good Bad
Purchase 75 25Finance 90 10
Production 85 15
R & D 80 20Dispatch 70 30
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0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Purchase FinanceProduction R & D Dispatch
Bad
Good
Figure No. 8.7/7(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.
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suggestions
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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 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 people
so that we are meeting the future needs of the community and government
and our clients. This first broad sweep of the Community provides a
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foundation on which to ensure leadership continuity, knowledge transfer
and service continuity. The initial
implementation resulted in a number of important human resource
priorities and strategies, such as performance management, leadership and
management development, attraction and retention, employee learningand 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
Management
Plan for the HR Community. Individually, members of the community
and their managers should work together to move forward 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 implementing practices that
reward and support employees.
3) Employee development
Talent Management ensuring continuous informal and formal
learning and development.
4)Performance management
Talent Management is specific processes that nurture and
support performance, including feedback/measurement.
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5) Workforce planning
It use to make planning for business and general changes,
including the older workforce and current/future skills shortages.
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.
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Chapter 10: Appendices
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Company Workshop
Name of Employee:
Roll No.
Department:
Designation:
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Joining Date:
Qualification:
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
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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:
BIBLIOGRAPHY
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)
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Web Sources:
1) Oneclickhr.com
2) Weckipedia.com
3) Google.com
4) Reddiff.com
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