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Talent Management Practices

• Introduction
Following a 1997 report McKinsey & Company coined the term "Talent Management." Talent
management is the systematic recruitment, recognition, growth, commitment, retention and
deployment of those individuals who are of particular value to an organization, either because
of their' high potential' for the future or because they perform business / operation-critical roles.
It is therefore a conscious, intentional effort to attract, cultivate and maintain individuals with
the capacity and ability to meet current and future organizational needs.

Talent management (TM) combines a number of significant human resources (HR) and
management systems. Organizations that follow a TM approach very often concentrate on co-
ordinating and integrating:
o Recruitment - ensuring the right people are attracted to the organization.
o Retention - developing and implementing practices that reward and support
employees.
o Employee development - ensuring continuous informal and formal learning and
development.
o Leadership development and high potential employee development - specific
development programs for nurturing existing and future leaders.
o Performance management - specific processes that nurture and support performance,
including feedback/measurement.
o Workforce planning - planning for business and general changes, including the older
workforce and current/future skills shortages.
o Culture - development of a positive, progressive and high performance "way of
operating".

Effective talent management includes not only hiring, maintaining and growing a high-
performing workforce but also aligning their talent management strategies with their
community, values and strategic goals and incorporating these programmers through
organizations. In talent management, an important step is to recognize the workers (people and
positions) that are vital to the organization. Many leading businesses have decided to develop
their own workforce, rather than attempting to employ fully qualified employees. To
summarise, each company will adopt the principles and strategies of talent management.

• Challenges faced by Companies

o Employee Engagement - Employee participation is fascinated at workplaces
everywhere. Committed workers are more successful, better performance, inspire others
and, perhaps most importantly, remain.
o Retention - It is interesting to note that about 75 per cent of IT employees are younger
than 45 years old. Hence, many IT administrators are in their 20s and 30s making it harder
to handle and maintain them.
o Employee Cost - The cost of replacing an employee varies from 29 per cent (non-
management) to 46 per cent (management) of the annual salary of the worker, according
to LBW Consulting.
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Talent Management Practices in TCS

• Introduction
Today, an organization's main advantages over its rivals are know-how, creativity and
experience. Those benefits are powered by the talented employees. To stay ahead in the market,
therefore, attracting, cultivating and retaining talent is vital to every organization.
In a country such as India, the IT industry reported 50 percent attrition rates. Number spikes in
the 16-24 year age bracket to 66 per cent. It is interesting to note that about 75 per cent of IT
workers are younger than 45 years old. So it is very important for a company like TCS that has
a large workforce to handle talent and that rehiring costs for employees.
The biggest factor in the IT market is human capital, and therefore the sustainability of revenue
growth in the IT Services industry depends directly on the organization's ability to attract the
right talent in the right quantity and then to develop, inspire and keep them in the company.
One of the leading software companies, Tata Consultancy Services (TCS), has adopted a
scientific and innovative approach to harnessing talent management. More than 6 per cent of
the company's annual sales have been invested in training, learning and development.

• Talent Management in TCS

Tata Consultancy Services ' human resources strategy (TCS), India's largest provider of IT and
Business Process Outsourcing (BPO) services, has helped the company to attract, integrate,
cultivate and retain the best talent needed to drive business growth. Sustained strategic focus
to improve employee capability, enhance productivity and train future leaders has helped TCS
retain its IT industry benchmark position. The Company has developed a performance focused
environment that encourages creativity, rewards success and motivates workers to realize their
potential. The relentless efforts to engage regularly with staff, to interact freely and
transparently, to provide opportunities for learning and development within the company has
yielded desired results, as is evident from the high retention rates and the enthusiasm and
dedication levels of its employees.
The attrition rate at TCS in 2006 was 10.6 per cent, the lowest in the software and IT industry
in India. In December 2006, a small project named "Ignite" started to strengthen the company's
talent base. Two batches of trainees from non-technical science background were launched to
recruit, train, and deploy. TCS modified its recruiting policy in February 2009, and began to
focus on just-in-time hiring or real-time talent management. TCS introduced a program called
the Academic Interface Program (AIP) to create a professional talent pool. In addition, TCS-
Learning and Growth, Initial Learning Programme, Continuous Learning Programme,
Leadership Development Programme, Foreign Language Initiative and Workplace Learning-
conducted various types of training programmes. TCS set up a state-of - the-art training center
at Thiruvananthapuram in 1997,' Technopark,' which provides training at various levels to new
recruits and TCS employees. Technopark' offered three forms of training programs for its
workers-technology, attitudes and management. TCS has a Manpower Allocation Task
Committee (MATC) which determines employee career paths.
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• Learning and Development

It has introduced in the learning cycle a paradigm shift which is called the next-gen learning &
development (L&D). Investing in virtual classrooms, video-based training and social media
allowed social learning changed the learning eco-system. Learning' Any Time-Any Where'
became a reality at TCS.

• Talent Management, Leadership Development and Talent Retention

Digitized systems were improved, and a' Career Center' was introduced to streamline the
process of documenting goals, recognizing high potential, mentoring and monitoring employee
career progress. TCS reward and recognition culture is enabled by' TCS Gems,' the global
reward and recognition tool, with well-defined performance enhancement requirements and
processes. A balanced leadership network is established through the complex structure of the
Leadership Development Program (LDP), which focuses on the development of competencies
for behaviour, business and people. Potential leaders are recognized and nurtured through
LDPs, and challenging roles are provided for building leadership capacity.
The open communication planning community is enabled by a highly flexible and accessible
forum for internal social networking. It empowers employees to articulate their feelings freely,
exchange ideas and contribute to the organizational growth.
Under its employee engagement program known as' Maitree' a number of non-work related
employee engagement programs such as fun events, sports, cultural activities, and volunteering
for social causes are coordinated around the globe. TCS Maitree allows its employees and their
families to see themselves as part of the extended family of TCS. The initiatives taken by TCS
Maitree develop and promote positive volunteer-driven programs for associates and their
families. Human Resources within TCS lead, steer and promote all activities and programs
related to Corporate Sustainability related to such associate participation.
Fit4Life, health awareness workshops, annual medical check-ups, office gymnasiums and
24x7' Employee Assistance Program' are some of the Company's main programs to promote
health awareness.
TCS remains a model for talent management in the industry. In 2013, the attrition rate,
including BPO, dropped to 10.60% compared to 12.20% in 2012.
Recruitment of fresh engineering graduates on campus plays a very important part in TCS '
talent acquisition strategy, so the organization is engaged in building strong partnerships with
universities around the world and improving the quality of academic training at engineering
colleges through Faculty Development Programs, Student Workshops, and Project Support and
Internships. Additionally, TCS holds "Sangam," which is an annual meeting of leading
academics from major engineering and management institutions.
At PCMM Level 5, TCS was evaluated enterprise-wide, and its retention programs are
considered the industry's best-in-class. Its career development, training, and rewards and
recognition programs ensure continued motivation for its associates.
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Talent Management Practices at ICICI Bank

Introduction
People are amongst the most important assets in a service-oriented industry such as banking.
To order to remain competitive, a bank needs to manage its employees effectively during all
stages of employment, from recruiting to training and development. Yet banks of all sizes are
facing challenges that make it very difficult to employ business assets. Such problems include
fusions that combine capital, fluctuating global economy, shorter periods of product life, and
constant demand for rapid ROI, aging workforce, and the enormous burden of selecting the
best job candidates from a multitude of candidates. At the same time, data on talent
management is often hard to access because it is distributed among a number of fragmented
IT systems. Under these circumstances, how can a bank leverage every employee's full
potential, retain talent and encourage career development while reducing costs? Experts
suggest that apart from high staff turnover rates, one of the main reasons why organisations
still face such a talent-crisis is insufficient talent nurturing. Talent management is essential
for recruiting high calibre graduates at both junior levels and senior levels. It includes
cultivating and maintaining high performers, and looking outside to find the right talent when
necessary. Good talent management benefits vary from high worker satisfaction and low

attrition rates to increased productivity and business continuity. To be honest, the need for
successful talent management is recognized by most financial institutions.
Recruitment and section process
Recruitment is the mechanism that binds the employers to the workers. This fulfills legal and
social responsibilities of the organisations on the composition of its employees. Recruiting
the right type of candidate is very critical in banking services as they are the bank's face.
ICICI Bank has special selection and recruitment processes. This creates an adequate pool of
applicants to fill the vacancies. Recruitment at ICICI is strong during the period May-June &
October-November. Attrition rate among sales managers, unit managers and mostly sales
profile managers is high. Recruitment process starts with job vacancies being recognized and
job descriptions being known for the same. It is closely followed by job design and task
system requirements. Each ICICI role has a very specific design of works. So, e.g. We try
technical knowledge and analytical skills for audit, and ability to sift through humongous data
and create a context for it.
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Programme Details
Sales Officers Programme ICICI Bank recruits young graduates to
become part of its diverse Sales Force front
line. ICICI Bank Sales Academy trains the
chosen applicants. This preparation ensures
that the candidates are well trained with job
responsibilities in sales skills, product
knowledge, and rules and regulations. The
Sales Academy is one of its kind in the
world and offers a Degree in Sales
Management to its members.
Probationary Officer Programme Probationary Officer Training Programme,
in collaboration with Manipal University, is
an initiative of ICICI bank. The
Probationary Officer Training Program aims
at attracting young talent who wishes to
pursue a banking career. It is a vocational
training program designed to build a pool of
top-level managers with banking knowledge
and skills required to perform their day-to-
day activities efficiently.
ICICI Business Leadership Programme The Post Graduate Certificate in Securities
Markets Leadership Program is a one year
program with NISM, an institution set up by
market regulator SEBI. A tailored and
comprehensive curriculum is oriented
towards providing intellectual context, skill
building and access to the industry. The
curriculum for the program is matched with
industry needs. The program's unique
design focuses on providing a high level of
market insight from the BFSI sector,
through academic and functional experts.
The program has the much-desired mix, in
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which participants experience the industry-

linked internship at ICICI Group during the
one-year course cycle for a total of three
months.
ICICI Academy for Skill ICICI Skills Academy, to empower
underprivileged youth, particularly women
across the country. ICICI Academy for
Skills has set up 22 training centers within
an accelerated timeline that can train 30 000
youth per year. Of these 10 centers, they are
exclusively for women in order to enable
young women without access to formal job
markets to address socio-cultural and
economic barriers and become significant
stakeholders in the growth story of India.
Such centers are built as friendly women's
centers run by women trainers and
employees, have convenient timing, and are
conveniently located. ICICI Academy for
Skills training model focuses on building
true marketplace competencies in
partnership with industry leaders.

Employee Retention
1. Career Development Opportunities-In-house staff hold more than 10 CEO and board level
roles. This offers horizontal growth opportunities. This program is called Your DNA Skill.
Under this is specified three kinds of leaderships.
a. Task Leadership-Capacity to coordinate, handle transition, strategic agility
b. Collaboration, Cultivating Talent Threshold
c. Citizens Leadership-Sensitivity - Dynamism, Passion, customer first, compliance with
conscience
2. Supervisor support This is an internal organizational platform to connect with senior
management. More than 400 such sessions were held this year. This platform's main agenda
is to address concerns and a cordial industrial / employee partnership.
3. Work environment- Tech-Savvy
a. Non-Hierarchical
b. Extension of Authority along with accountability
4. Work-life Policies
a. Life Policies & Some Benefits
b. Employee Salary A/c Benefits. Family Health Insurance
c. Flexibility to innovate
d. Exhibits rigidity in terms of well laid systems, processes and infrastructure
5. Rewards- ESOP’s, Annual Promotions & Bonuses
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Performance Appraisal
PA MODEL 1
Rank and Yank strategy
• Strategies for determining poor performers are the first to worst lists. The poor
performers found are then given a time-limit to demonstrate a change in their
performance.
• If the employee fails, the employee is asked to leave the company, and he is given a
severance package.
• Where an employee refuses to leave, his service shall be terminated without pay.
Advantage: To keep inspiring workers to improve their performance since no one wants to
be included in the poor performance unit.
Disadvantage: Staff are overly competitive, and the spirit of the team is not nurtured.

PA MODEL 2
Management by Objective (MBO)
• The subordinate, in coordination with the supervisor, sets short-term goals followed
by specific actions in this process.
• The goals are action-oriented, concrete, observable, realistic, worthy of examination
and time-bound, consistent with the organisation's mission.
• Duties are monitored collectively by both the subordinate and his boss.
• The targets shall be updated or revamped for the next cycle, depending on the success
of the subordinate.

Advantages of MBO:
• Self-evaluation
• Promotes communication and information sharing
• Motivates employees
Facilitates guidance MODEL 3
• Performance Evaluation Form: Employees and managers must fill out a self-
assessment form.
• Feedback cycle of 360 degree: Input from peers.
• Performance Appraisal Interview: Managers and employees undergo a formal
interview. Grooming leaders for innovative challenges-the ICICI way Leadership
growth becomes a success when vast opportunity and a meritocratic culture are
complemented by a rigorous talent management process.
Looking Ahead Experts felt that although ICICI Bank had a deep talent, it also faced the risk
of becoming a paradise for poachers. According to Kochhar, "When a company develops
over 10 years at 35-40 per cent per annum and adds 10 new businesses during that time,
young professionals get the kind of attention they wouldn't have elsewhere. We've groomed
people to build and operate banking, securities and retail businesses. So, if other players look
to develop who would they choose? The best person would be someone who already has run
the company.
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Talent Management Practices at Deloitte

In as solely human talent-based sector like consulting, talent management practices play a
special role since these are also the firms that suggest suitable talent management practices to
other companies which are their clients.
So, below are 5 key-steps to implement a robust talent management strategy in consulting
companies.

The company we have chosen - DELOITTE - is a global leader in consulting, tax, audit etc.
verticals. Deloitte has held number one position in professional services network in the world
in both revenue and number of professionals. In 2013–14, they earned a record of $34.2 billion
USD in revenue.

Old vs. new approach to performance management

Deloitte noticed their current performance improvement strategy, 360 annual reviews, wasting
a staggering 2 million hours a year. Even more importantly, they found that workers were not
at all interested in their scheme. Furthermore, performance levels dropped drastically. Deloitte
has developed something much more nimble, real-time and individualized in an effort to
combat this. They wanted something that was focused on fuelling performance in the present
rather than assessing it in the past.
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In response, Deloitte did a complete redesign, reframing the evaluations to concentrate more
on what the leader would do with and member of the team going forward, rather than on how
they will rate them on basis of their past work. They started by defining new goals for the
overall performance management. Here's what they got from here:
1. Acknowledging results.
2. Clearly see.
3. Fuelling efficiency

TALENT MANAGEMENT MATURITY MODEL (4-LEVELS)

Maturity on Four Levels:

The themes within a quadrant can be scored from one to four. The maturity model shows the
development of operational performance (level 1) all the way to strategic management (level
4). It shows the growth in maturity towards the ideal situation, which is when an organization
has optimally implemented strategic Talent Management. This organization reaches the highest
level of the maturity model in all four quadrants.
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As per 2010 report of Bersin & Associates, for US Organizations’

• 28% belonged to level 1
• 45% belonged to level 2
• 20% belonged to level 3
• 7% belonged to level 4

TALENT MANAGEMENT FRAMEWORK

In addition to this, Deloitte has also curated the “Deloitte Open Talent Community” or DOT
Community which is a gig economy platform that allows people to offer their skills for hire
without working traditional hours.
Here, Deloitte invites candidates to “join its network of independent professionals” and offer
their skills for different types of projects.
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Comparison of Different Industries

It can be pointed out that every company has its own definition of the term talent and therefore,
TM activities vary from industry to industry (Terpstra and Rozell, 1993). Nevertheless, some
similarities can also be recognized. To compare both industries in terms of Talent Management
activities, a Point Rating System may help to achieve an overview. This System enables a
quantitative comparison of certain elements where a total score forms the result of every
company.

Talent Attraction activities are nearly equal when comparing the points. TCS and Deloitte
scored 3 each and ICICI Bank scored 2 points, whereas some difference is seen in Sum Total
of the companies.
Our study shows that Talent Management is quite a complex issue. The definition and
therefore the implementation of TM in a company is tricky and needs to be planned
accordingly. There is no single solution for a company’s success through TM activities.
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Sample Interview Questionnaire

Note:
We have not conducted primary research as we did not have access to large number of
experienced professionals in any of the organisations we picked, which are required to make
any sort of conclusion from the survey.
The contacts available were not that senior and were not aware of the talent management
policies of their respective organisations.
The questionnaire designed below would have helped us in evaluating and comparing the TM
policies in a much better way.

Q1. How long have you been working for the company?
Q2. Have you been made aware of the policies and procedures? Do you know and understand
them?
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Q3. Would you benefit from further training in any of the items specified in your job profile?
Yes _______________ No ________________

Q4. What do you know about your job, and what would you like to know more about?
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Q5. Please rate your satisfaction with the employee benefits and policies.

Q6. Overall how much are you satisfied with your company’s personnel policies?
Extremely Dissatisfied
Very Dissatisfied
Neither
Extremely Satisfied
Very Satisfied

Q7. Excluding financial compensation which of the following do you believe are your
organization’s most effective means of rewarding motivating and retaining talent?
External Training Sessions
Appreciation for initiation
Innovations
Recreational Activities
Emp. Name: ________________________________________________
Emp Age: __________________________________________________
Emp Designation: ____________________________________________
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References
• www.tcs.com
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• En.wikipedia.org/wiki/talent management
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articles/ employee-retention-strategy-6242757.html
• http://www.slideshare.net/ragsroxragavendra/hr-issues-in-psu-final?related=1
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%20Organization%20Behavior/HROB157.htm
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employees113032900127_1.html h
• http://www.peoplematters.in/article/2010/01/12/leadership/grooming-leaders-for-
adaptivechallenges-the-icic-way/245
• http://www.ijsrp.org/research-paper-0114/ijsrp-p2598.pdf
• http://blogs.wsj.com/indiarealtime/2010/12/03/career-journal-what-icici-looks-for-
inemployees/