Effectiveness of Talent Management Strategies: Evidence from Indian IT Sector (original) (raw)
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Talent Management Practices and Its Impact on Intention to Stay in the Organisation
Asian Journal of Economics, Business and Accounting
In today’s dynamic business environment, organizations are looking to add new and improved or innovative capabilities to their portfolio of business. To achieve these objectives organizations need to add a very vital component called human resources. Therefore, Talent management is the buzzword in the IT sector to attract and retain a talented workforce. The current research paper aims to explore the attitude of the employees towards the major factors that influence the talent management practices in Indian IT firms intending to stay in the organization. To realize the stated objectives the researchers have collected the primary data from two hundred talented employees across the IT sector. In this context talented means one has consistently been a top performer or received the best employee or star performer reward or recognition from the employer for at least two years in a specific domain. For this purpose, the researchers have identified eight major factors such as quality of su...
Over the past decade there has been a glut of management literature around the topic of talent management. The challenge of effective talent management to support business growth has been consistently identified as a top priority among global CEOs. While the phrase "Talent Management" is relatively new as a concept, however as a management focus it has always been at the core of strategic HRM. Strategic HRM performs an enabling and investment management role for organizations. The HR leader as champion for organizational hurl\an resource management excellence is tasked with the primary responsibility of leading and strategizing comprehensive efforts to attract, develop, engage and retain a workforce that is competent to support strategy and strategic management efforts. Talent management systems and processes need to be integrated into the total HRM system of the organization. Traditional roles of HRM such as recruitment, training, performance management and compensation need to be aligned to support the achievement of talent management goals such as talent turnover, employee engagement, succession pipeline ratios, etc. This article addresses how recruitment and selection, a traditional function of HRM needs to be managed in an organizational context that has a focus on talent management. Expressed from a strategic business perspective, "Talent management may be defined as a core sub-system of an organization's strategic management system, to develop a human resource asset base that is capable to support current and future organizational growth directions and objectives". Talent management may be described as comprising three key components:-
Effectiveness of Talent Management Strategies: Evidence from Indian Manufacturing Sector
International Journal of Management Studies
In a globalized era managing and developing talent has become the critical factor in the success of any organization. In the last two decades, the theme "Talent Management" is the most explored area by both academicians and HR managers. In this competitive corporate environment and lack of availability of highly talented and skilled employees, the major challenge for the HR department is that of attracting the right talent and retaining them to achieve the objectives of the organisation. Now, the HR department is of the opinion that "it's better to develop talent rather than acquiring talents". Therefore, the current empirical study has been undertaken to understand the major drivers of the Talent Management practices in Indian manufacturing sector. Based on the exhaustive study, the researchers have identified eight major determinants that influence the intention to stay in the current organisation namely; Supervision, Compensation management, Job engagement, Innovation, Open climate, Career development path, Organisation environment, Quality of working environment. In order to realise the stated objective, a structured questionnaire was administered on 235 highly talented employee respondents across various companies. For this purpose, the instrument's reliability was adjudged by employing Cronbach's alpha. The threshold Cronbach's alpha value fixed for this purpose was 0.7. Only those items whose Cronbach's alpha value was greater than .7 was retained for further analysis. In the next phase, frequency table and cross tabulation have been run and inferential statistics have been run to arrive at the meaningful statistical inference. In the last phase, multiple regression has been run to identify the major determinates of intention to stay in the current organisation. The findings revealed that Compensation management, Job engagement, Open climate, Career development path, Quality of working environment were the major factors that drive the dependent variable Intention to stay in the organization. It is recommended to the organisations to integrate career mapping tool and career planning discussions as they help employees think strategically about their career paths and the ways to meet their career goals within the organization. Proper alignment of Talent Management strategies with organizational goals and creating a culture where employees work is valued will be helpful to sustain in the competitive environment for a long period of time. Finally the results have been compared with the possible evidence.
Talent Management: a burgeoning strategic focus in Indian IT industry
Purpose-This study is aimed at examining the talent management system in an Indian IT organization. Design-Structured interviews were conducted to collect primary data and then content analyzed to develop the case study. Findings-Recruitment, talent development, knowledge management, social media, performance management, and rewards are the main practices associated with talent management. Originality-This is first study to unravel talent management in Indian IT industry context. Limitations-We acknowledge that study's scope is limited to IT sector and there is a lack of quantitative data empirical investigation. Implications-HR managers should embrace the practices of talent management of the case organization to effectively manage their workforce.
IJMSRR, 2016
”The thing that wakes me up in the middle of the night is not the economy or competitors; it is whether we have the leadership capability”. (David Whitwan, former CEO of Whirlpool Corporation).This statement reflects the challenges we face in the new knowledge economy. Keeping good people has become a major challenge for most businesses, big or small. In the 21st century we are defining talent as the new wealth. Most organizations have become poachers of talent, instead of developers of talent. If talent is identified, it is lured with anything and everything in order to gain the competitive advantage. According to a recent Harvard Business Review article (January, 2000) organizations often revert back to the proverbial “golden handcuffs” strategy in order to prevent the often devastating impact of losing a talented employee. Global worker shortages and talented people have heightened corporate awareness of the need for innovative talent retention strategies and the ever-increasing competition for talent. The “war for talent” has become the mantra of modern Human Resources (HR) professionals, and it will stay a reality in the corporate landscape for many years to come.According to the Gordon Institute of Business Science (GIBS) the reality is that most companies are playing “Talent Management catch- up” instead of managing talent as a strategic imperative (mba.co.za, 2007). So what is Talent Management exactly? It can be defined as a dynamic, ongoing process of systematically identifying, assessing and developing talent for future critical roles to ensure continuity and optimal organizational performance (J Heidke,2006).
Couple of years back, home-grown e-commerce player Snapdeal made a claim that India lacked talented programmers to meet their needs (Thoppil, 2015). This assertion reemphasized the importance of talented employees and their skills in the success of any organisation. Understandably, a lot of research efforts have been made in last two decades to tackle issues related to employee retention. This study examined the role of talent management practices and organisational performance on employee retention in the Indian IT sector. Based on literature review, three leading hypotheses were formed. Primary data was collected from 33 IT firms, leading to a total of 68 responses. Based on statistical analysis using SPSS 21.0, correlations between the variables were studied. Additionally, regression was also performed between the dependent and independent constructs. The results revealed that significant relationship was found between talent management and employee retention. On the other hand, organisational performance, on its own, didn't emerge as a driving factor for employee retention. However, along with talent management practices, organisation performance was found to have significant effect on employee retention.
Talent Management: An Indian Perspective
One of the most critical issues of discussion and therefore redressal in the growth story of corporate India has been "How to develop and manage talent". Corporate India has been coming to terms with this challenge, i.e., attrition of talent, more recently. The diversification, expansion and forward and backward integration of businesses is putting a lot of pressure on the existing pool of human resources. Talent Management is therefore becoming a critical HR issue for Corporate India. The study being reported was an attempt to ascertain the view of the HR professionals in India vis-à-vis Talent Management, its importance, organisational engagement with Talent Management, Talent Management strategies, interventions and other important aspects. The findings of the study indicate that majority of respondents perceive Talent Management to be a critical HR issue for the rapidly growing economy of the country as well as for their own organisations. Attrition of talented workers and poaching by competitors are recognized as main reasons making Talent Management a critical HR issue. The findings also indicate that developing high potential individuals and retaining key staff are perceived by respondents as two most important objectives of Talent Management interventions.
A STUDY OF TALENT MANAGEMENT STRATEGIES IN INFORMATION TECHNOLOGY INDUSTRY AT BANGALORE CITY
Talent Management" has become one of the most significant buzzwords in Corporate HR and Training today. Talent Management is an excursion from Personnel to Strategic HR to Talent Management. To realize why Talent Management has become so important needs the need to gaze at the evolution of business HR: It was identified that majority of the employee quit the job, happens in first six months period after joining the organization. It causes serious problem and very high expenses for the organization, especially in IT industries. The Team leaders/Head and Managers are directly responsible for this turnover. To overcome this problem first the Team leaders/Head and Managers should be capable of handling Talent Management Competencies effectively, which in turn develop the organization commitment and job satisfaction which will reduce the turnover intentions. Thus an attempt is made to study about the Team Leaders/ Head and Managers Talent Management Competencies level. The organizations considered for the study are large IT companies. In order to remain market leaders in the field, their employees need to be competent to cope with continual specialized technological updates and rapidly increasing customer base. Due to the organization’s heightened awareness of the limited availability of experienced talented employees, an integrated Talent Management process has been introduced. The intention within this organization is for the managers to understand the impact of such a strategy and to take accountability for their involvement in the process. The universe of the study constitutes to leading and large IT companies in Bangalore. Top 5 IT Companies that adopted talent management practices were considered as the population of the study.
TALENT MANAGEMENT TECHNIQUES IN IT INDUSTRY WITH SPECIAL REFERENCE TO INDORE CITY
At the moment businesses are well aware that they need talent to get success in the multifaceted world economy and to stay alive in the aggressive business environment. Simultaneously the businesses recognize that they have to engage talented employees and encourage them to stay in the organization, as a result it is apparent significantly essential that talents must be handled appropriately in order to accomplish the best results. In the present day, talent management advance is perceived as the most essential aspect of business and as one of key constraints of sustainable rivalry reward in organizations. The rationale of the present research is to explore talent management practices and its intensity in IT sector in Indore City. The Population of this study comprises IT professionals working in Indore city and the sample consists of IT companies of Indore. The Data collection process involves semi-Structured opinionaire conducted with 125 IT employee. The study objectives and the purpose of this research are to study and identify the awareness and the state of talent management practices in IT companies of Indore.
Talent Management and its importance in Business Strategy: A Critical Literature Review
Zenodo (CERN European Organization for Nuclear Research), 2022
In recent years, many researchers have been interested in the topic of talent management as human resource has long been acknowledged as the most essential aspect in establishing a viable edge, and managing people has been a focus for most firms around the world. During the current economic downturn, companies are in desperate need of skills. Many authors have provided definitions and approaches for attracting the best employee for a firm, as well as for scanning the ranks of a corporation to find better performers. When hiring and promotions are on hold, it's vital to look for talent among individual employees. As a result, companies must recognize their employees' hidden abilities. The purpose of this study is to conduct a literature review on talent management in Indian enterprises. While most businesses have integrated personnel management, there are still a few issues to be addressed.