A STUDY ON TALENT MANAGEMENT WITH SPECIAL REFERANCE TO

GLOBAL INNOVSOURCE SOLUTIONS PVT.LTD, CHENNAI

A Project Report

Submitted By

JOHN YABEZ.R

(Reg. No. 951015631021)

In partial fulfillment of the requirements for the award of the degree

of

MASTER OF BUSINESS ADMINISTRATION

ANNA UNIVERSITY

CHENNAI

MARCH 2017

CHAPTER I
 INTRODUCTION ABOUT THE STUDY

Talent Management, as the name itself suggests is managing the ability, competency and
power of employees within an organization. The concept is not restricted to recruiting the right
candidate at the right time but it extends to exploring the hidden and unusual qualities of your
employees and developing and nurturing them to get the desired results. Hiring the best talent from
the industry may be a big concern for the organizations today but retaining them and most
importantly, transitioning them according to the culture of the organization and getting the best out of
them is a much bigger concern.

Talent management implies recognizing a persons 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 peoples 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.

Current meanings of talent tend to be specific to an organisation and highly influenced by the
nature of the work undertaken. A shared organisational language for talent is important. There is high
level of influence of management consultants in the development of the term in managing people
with unique knowledge and skills. Practical implications Organisational talent, in order that it can
be identified and developed, must be visible, stimulated and nurtured, and the first step to this is to
have an agreed organisational definition of talent. Social implications Talent management that only
recognises a narrow definition of talent negatively impacts on the full utilisation of a nation's talents.
Originality/value There are no other articles currently published which attempt to define talent from
such a historical, linguistic, organisational and individual perspectives.
BRIEF HISTORY ABOUT TALENT MANAGEMENT

The term was coined by McKinsey & Company following a 1997 study. It was later the title
of a book by Ed Michaels, Helen Handfield-Jones, and Beth Axelrod however the connection
between human resource development and organizational effectiveness has been established since the
1970s.

The profession that supports talent management became increasingly formalized in the early
2000s. While some authors defined the field as including nearly everything associated with human
resources, the boundaries of the field through surveys of those in corporate talent management
departments in 20092011. Those surveys indicated that activities within talent management included
succession planning, assessment, development and high potential management. Activities such as
performance management and talent acquisition (recruiting) were less frequently included in the
remit of corporate talent management practitioners. Compensation was not a function associated with
talent management.

The issue with many companies today is that their organizations put tremendous effort into attracting
employees to their company, but spend little time into retaining and developing talent A talent
management system must be worked into the business strategy and implemented in daily processes
throughout the company as a whole. It cannot be left solely to the human resources department to
attract and retain employees, but rather must be practiced at all levels of the organization. The
business strategy must include responsibilities for line managers to develop the skills of their
immediate subordinates. Divisions within the company should be openly sharing information with
other departments in order for employees to gain knowledge of the overall organizational objectives.

The talent management strategy may be supported by technology such as HRIS (HR Information
Systems) or HRMS (HR Management Systems)

The origins of Talent Management can be traced to the 1990s with the realization of the
immense value of the Human Asset for organizational success surpassing every other resource.
Today, it is very widely used terminology Companies have initially thought of talent management as
a means to solve high employee turnover. In course of time it has become and parcel of the corporate
strategy itself with a key responsibility placed on the line managers. One cannot wish away the fact
that these managers have to play a pivotal role in nurturing the talents and skills of those reporting to
them. In other words, it is a case of joint trusteeship between the line and staff functions. However, in
Indian Companies, talent management is of fairly recent origin.

TALENT MANAGEMENT WHEEL

 OBJECTIVES OF THE STUDY
PRIMARY OBJECTIVE

To study the employees satisfaction towards the existing talent management practises in the
company.

SECONDARY OBJECTIVES

To determine the employee satisfaction towards talent acquisition process in global

Innovsource solutions pvt. Ltd.
To measure the level of satisfaction on talent development process in global Innovsource
solutions pvt. Ltd.
a. Training
b. Performance appraisal
c. Compensation
To identify the satisfaction level of employees on talent retention program in global
Innovsource solutions pvt. Ltd.
a. Senior management involvement
b .Utilization of employee skill
c. Motivation through reward

STATEMENT OF THE PROBLEM

In the present scenario talent management plays an vital role to improve their organization in
a better way. It 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 peoples 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. So, in this study it is been done to know about common talent
management practices been followed and also to know how much the employees are been satisfied

THE IMPORTANCE OF TALENT MANAGEMENT

The primary reason for the importance of talent management is that successful talent
management certifies the organization to attract and retain essential talents. Second reason is
employees engagement as stated by Morton (2005) who believed that talent management is
fundamental to engaging employees in the organization. Therefore, the combination of these issues
has become a primary determinant of success for organizations (Hughes &Rog, 2008).
After the 2008 global financial crisis, organizations decided to reduce their costs and focus on
competencies in order to become leaner. Many companies began to invest on long-term strategies to
hire and also develop management skills, in addition to implementing integrated talent management
development strategies. Hence, a well-planned strategy can help to overcome organizations
difficulties and boost business success (Rowland, 2011). On the other hand, the principle of talent
management can benefit and enhance the knowledge management in the organizations (Whelan
&Caracary, 2011). Knowledge is regarded as a most substantial organizational asset and it has been
considered as one of the intangible sources of competitive tools (Kiessling& Harvey, 2006).
Most of the competitive advantages are tacit in nature (McDonnell et al., 2007), it is latent in
peoples action and experience which is not easy to imitate or even formalize and spread in the
organizations. Therefore, it is high time for those entrusted with talent management to recruit these
people with tacit knowledge and experience and retain them in the organization or greatly invest in
their training and development. Thus, employees knowledge, skills and capabilities need to be
boosted and recognized as a vital source of (Colling&Mellahi,2009).

Although there are many citations based on the lack of talent management proficiency, but
organizations are placing more emphasis on talent management for the purpose of knowledge
creation, sharing and retention. Consequently, they are going to have better understanding of
interaction between talent and knowledge management (Whelan&Caracary,2011).

In this new competitive business environment, organizations not only need to be clear about
the need for a balanced number of talents to flourish but also need to be able to effectively manage
the talent. According to Williamson (2011) these dual initiatives are the most critical issue that can
determine the success or failure of an organization.

BENEFITS OF TALENT MANAGEMENT

Right person in the right job

Retaining the top talent
 Better hiring
Understanding employee better
Better professional development decisions
Increases employee productivity
Supports effective workforce planning
Supports business continuity
Richer career development and career management programmes

DEFINITION OF TALENT MANAGEMENT

According to Mc. Kinsey; Talent is the sum of a persons ability his or her intrinsic effect
skills, knowledge, experience , intelligence, judgement, attitude, character, drive, his or her ability to
learn and grow.

TALENT MANAGEMENT PROCESS

1. World force planning

2. Recruiting
3. On boarding
4. Performance management
5. Training and performance support
6. Succession planning
7. Compensation and benefits
8. Critical skills, gap analysis

1. Workforce Planning: Integrated with the business plan, this process establishes workforce plans,
hiring plans, compensation budgets, and hiring targets for the year.

2. Recruiting: Through an integrated process of recruiting, assessment, evaluation, and hiring the
business brings people into the organization.

3. On boarding: The organization must train and enable employees to become productive and
integrated into the company more quickly.

4. Performance Management: by using the business plan, the organization establishes processes to
measure and manage employees. This is a complex process .
5. Training and Performance Support: of course this is a critically important function. Here we
provide learning and development programs to all levels of the organization.

6. Succession Planning: as the organization evolves and changes, there is a continuous need to move
people into new positions. Succession planning, a very important function, enables managers and
individuals to identify the right candidates for a position. This function also must be aligned with the
business plan to understand and meet requirements for key positions 3-5 years out. While this is often
a process reserved for managers and executives, it is more commonly applied across the organization.

7. Compensation and Benefits: clearly this is an integral part of people management. Here
organizations try to tie the compensation plan directly to performance management so that
compensation, incentives, and benefits align with business goals and business execution.

8. Critical Skills Gap Analysis: this is a process we identify as an important, often overlooked
function in many industries and organizations. While often done on a project basis, it can be
"business-critical." For example, today industries like the Federal Government, Utilities,
Telecommunications, and Energy are facing large populations which are retiring. How do you
identify the roles, individuals, and competencies which are leaving? What should you do to fill these
gaps? We call this "critical talent management" and many organizations are going through this now.

COMMON TALENT MANAGEMENT PRACTISES

Senior management and involvement

Retention
Compensation
Performance management
Training and development
Succession planning
Recruitment and selection
Senior management: They must have direct involvement in their day to day activities, they should
also ensure that individuals are competent to perform their assigned work and that they understand
the consequences for safety of their activities. They must have check over the involvement in their
day to day activities . This involvement helps in building smooth relationship between the different
levels of individuals in the organization.

Employee Retention: It is a process in which the employees are encouraged to remain with the
organization for the maximum period of time or until the completion of the project. Employee
retention is beneficial for the organization as well as the employee

Compensation: It is a tool used by management for a variety of purposes to further the existance of
the company. Compensation may be adjusted according the the business needs, goals, and available
resources. Different types of compensation include:

Base Pay

Commissions

Overtime Pay

Bonuses, Profit Sharing, Merit Pay

Stock Options

Travel/Meal/Housing Allowance

Benefits including: dental, insurance, medical, vacation, leaves, retirement, taxes...

Performance Management: If is the Process through which supervisors and those they lead gain a
shared understanding of work expectations and goals, exchange performance feedback, identify
learning and development opportunities, and evaluate performance results(Steps, Individual, &
Effectiveness, n.d.). Performance management would help in retaining the best talent in the
organization.

Training and Development: There needs to be appropriate learning and development interventions
to help employees in their career path. An organization can provide both formal and informal
interventions such as conventional training and development programmes to creative alternatives
such as talent coaching and mobility (Abraham, 2011). Training and development of employees
becomes an important strategy in talent management.

Succession Planning: refers to a process whereby an organization ensures that employees are
recruited and trained to fill every key role within the company. Proactive succession assists in loss of
an employee, Expansion, Etc. Effective succession planning and management effort should address
the need for critical backups an individual development in any job category (Rothwell, W. J. 2010)

Recruitment: The ability to attract the right talent to the organization depends on how the potential
applicants view the organization and whether they share the same values of the organization
(Abraham, 2011). According to the diversed need of the company the person is been recruited .

CONCEPTUAL FRAMEWORK OF THE STUDY

 TALENT
TRAINING
ACQUISITION

TALENT PERFORMANCE
DEVELOPMENT APPRAISAL

TALENT
MANAGEMENT COMPENSATION
PRACTISES

SENIOR
MANAGEMENT
INVOLVEMENT

TALENT UTILIZATION OF
RETENTION EMPLOYEE SKILL

MOTIVATION
THROUGH REWARD

SCOPE OF THE STUDY

 The talent management practices been followed in global Innovsource solutions Private
Limited is been studied in this research, in order to provide an effective suggestion to improve the
talent management practices.The study is of great significance to the employees and the organization,
as it provides the insight to acquire the talent of the employees. It would ultimately help the
organization to know the employees satisfaction on talent management practises been followed and
also to improve its effectiveness by enhancing new practises and to enhance the existing one.

LIMITATION OF THE STUDY

The study is been performed in global Innovsource solutions Private Limited located in
Pondicherry with 562 employees. The information gathered may have biases result.
The sampling unit is chosen in all departments except the manufacturing department, so the
study may not give the complete result.
As the research is been restricted to a short period, the findings may not give the complete
view about the study.

RESEARCH METHODOLOGY

It is the process which helps to collect information and to analyze the data to make effective
decision.

RESEARCH DESIGN
In this research descriptive study is been used. The study describes the parameters such Talent
acquisition, talent development, talent retention as which helps to determine the effective talent
management practices in the company.

TYPE OF DATA
In this study primary and secondary data is been used.
Primary data: collected using self- structured questionnaire
Secondary data: collected from the websites, company records, journals, books.

SAMPLING TECHNIQUE
 The samples were chosen from the population in STERIL GENE LIFE SCIENCE PVT.LTD
by using probability sampling method in which stratified random sampling technique is used.

Stratified random Sampling Technique :

It is a sampling that involves the division of a population into smaller groups known as strata.
In stratified random sampling, the strata are formed based on members shared attributes or
characteristics.

In this research the population is been divided based on the departments and collected the
samples using lottery method

a) HR
b) FINANCE
c) ENGINEERING

DATA COLLECTION
Survey method of data collection was used in this research. Survey is been collected except
the manufacturing department as it is been restricted to the outsiders.

POPULATION
Total No.of employees in the organization = 540 employees (excluding manufacturing
department)
HR department 142
Finance department 155
Engineering department 243
Total 540
SAMPLE SIZE
Sample sizeThe sample size of a survey most typically refers to the number of units that were
chosen from which data were gathered.
In this research the sample size is 262 (using online sample size calculator)
The sample is been collected using lottery method.
STATISTICAL TOOLS

1. Chi Square Test

2. Independent Sample T Test
3. One Way Anova
4. Frequency Analysis

1.Chi-Square Test

Chi-square test is a nonparametric test. Such non parametric test has assumed great
importance in statistical analysis and statistical inference. Chi-square is a measure which evaluates
extent to which a set of the observed frequencies of a sample deviates from the corresponding set of
theoretical frequencies of the sample.

The measure of chi-square enable us to find out the degree of this discrepancy between observed
frequencies and thus to determine whether the discrepancy so obtained is due to error of sample or
due to chance.

Formula

O = observed value

E = expected value

= summation

X = chi square.

2. Independent Sample T-Test

 The independent-samples t-test (or independent t-test, for short) compares the means between
two unrelated groups on the same continuous, dependent variable.

Formula

3. One-Way Anova

The one way anova analysis of variance is used to determine whether there is any significant
difference between the means of two or more independent groups.

4.Frequency Analysis

Frequency analysis is a descriptive statistical method that shows the number of occurrences of
each response chosen by the respondents. Frequency analysis produces a table of frequency counts
and percentages for the value of an individual variable It was used in this research to provide
descriptive information of the data such as frequency, and distribution of the responses, and to
summarize the responses to each question.

INDUSTRY PROFILE
Staffing

Staffing is the process of hiring, positioning and overseeing employees in an organization.

global Staffing Innovision Pvt Ltd is a one stop-solution provider when it comes to HR &
Placement Companies in four geographies Viz .India, Middle-east, US and south East Asia
(Singapore, Philippines, Cambodia and Srilanka).We have earned great recognition for offering a
wide range of services including Training & Development Services, Manpower Recruitment
Services, Head Hunting Services, Contract Staffing Solutions, Staffing Solutions, Temping Solutions
and Executive Search. Our services are expanded across Industries like BFSI, Automobile, Education
and Training, Bio tech, Pharma, Health and Hospitals, IT and ITES, FMCG, Retail, Oil and Gas,
Infrastructure.

COMPANY PROFILE
 Innovsource is a leading manpower outsourcing company ranked among the top 4 staffing
companies in India. Established in 2004, we offer a gamut of Staffing services to our customers. In
the past years, we have emerged as a preferred Staffing service partner of several leading companies
in India.

With our corporate office in Mumbai and full-fledged offices in Delhi, Bengaluru, Chennai,
Kolkata & other cities, we have a national footprint with presence in 45 locations across the country
manned by 750 people. Our vast network of offices across the country enables us to be within reach
of clients and associates.

Offering a spectrum of services that include temporary staffing, infrastructure services,

facilities management, and caretaking services, we are the only integrated HR service providers,
offering our customers more than just Staffing services.

Today we have emerged as a powerful brand in the HR industry, offering integrated HR

solutions to our customers.

Our Vision:

To deliver high quality yet cost efficient workforce solution to our clients, giving them the qualitative
and measurable financial advantage in talent acquisition business process.

Our Mission

To build an effective and robust recruitment and assessment process enabling technology driven
recruitment decision matrix which will help our clients and the professionals who have an in-depth
knowledge of their domain to come together

Our Values:
Industry specific boutique service to our clients one hand and the industry professionals on the other
hand.Commitment to excellence by being result driven, innovative and working towards continuous
improvement in the recruitment process.

Proactive & professional approach to customers

Receptive to organisational need
Deliver with Integrity
Knowledge & Information Sharing
Focused and committed towards excellence

Exceptional recruiters| Exceptional career opportunities| Exceptional Staffing and

Recruitment Solutions.

Global Staffing Innovision is a company that strives to deliver the best in recruitment for its
clients. While companies are involved in recruitment of specific talent for their existing and new
positions, companies must distinguish career opportunities available with them from the rest of the
market including your competitors. You need recruiters who can explain why someone should join
your organization; why your career opportunities are better than your competition.

We are experts in developing that profile of your company and, more importantly, communicating
information about your careers to candidates in the language they are speaking. We attract people to
your company, culture, vision and career opportunities.

Our goal, as recruiters, is to become a specialist and an advocate in YOUR business. We surface
the skills, experience, education and mindset you are looking for, from the vast pool of job seekers
market. That enables us to recruit for your job openings and represent your company as an extended
of your recruiting staff. We have recruitment agency experience across a wide range of industries and
functional domains, and it is this fact that really sets us apart from the rest of them.

This means that you are working with recruitment professionals who act as a business partner
and as an ambassador for your business, and can address all issues or reservations that a candidate
may have about your business or career. We are always sourcing and networking to find the hidden
talent pools of candidates who are the source of your next top-performer or problem-solver.
 Extensive experience in IT, ITES Automobile, Healthcare, BFSI, oil and gas, infrastructure
and hospitality in multi location delivery model inclusive of India , Middle East and North Africa,
US , SriLanka , Philippines and South East Asian countries sets us apart as an credible business
partner for your talent actuation solutions

Staffing Solution

Global Staffing Innovision Pvt Ltd is a prominent HR, Recruitment and Placement Company with
its global presence in four geographies Viz .India, Middle-east, US and south East Asia. We are also a
Staffing Solutions Company focused on being one of the unparalleled placement bureaus providing
the corporate and organizations quality manpower in national and international space.

We provide staffing solutions which are of top quality and corporate centric.We believe that the
success of a company depends on the flexibility to staff up on business demands. We give the best
options to companies so that they can find skilled people to drive business performance and meet the
workforce fluctuations. We provide qualified candidates in every industry and at all levels by
respecting the time, energy and money of our clients. Our staff has proven expertise to find and
deliver talented individuals with the right skills and experience pertaining to the positions. We use
client specific strategies to find the right talent for the company and its business demands.

Our Clients have recognized us for our specialized recruitment for middle east region in the
automobile, Health care, oil and Gas and Construction.With a combined experience of 10 plus years
we have been recruiting top talent professional whether it be a technician, service advisor,operations
manager, Spare parts manager etc for automobile and also OT technician,Radiologist, etc in health
care as well.Hands on experience in hiring talent professional has also helped us gain a lot of
knowledge of the industries in middle east region and as well the procedures and policies prevailing
which are very important for a consultant to understand for efficient delivery of the service
Executive Search Services
Global staffing Innovision is a much sought-after HR & Placement Company in Hyderabad
offering Executive Search Services. Executive Search Services offered by us are expanded across
various industries like Automobile, Construction,Oil&Gas, Retail, Finance and Banking,Education
Training and Healthcare.
We provide a proactive and research based recruiting service to organizations wishing to find
and appoint top executive talent. We currently have a database of executive talent and our dedicated
executive recruiters proactively connect with them.

International Manpower Recruitment

Services with our presence in four geographies we aim at providing the right recruitment
opportunities and solutions to organizations from the global skill pools coupled with cultural
diversity. global Staffing Innovision Pvt Ltd aims at assisting manpower resources high in quality
equilibrium with best hiring methodology. We are a Hyderabad based company providing the right
recruitment opportunities and solutions to individuals as well as organizations. Our recruitment
procedure is rigorous, cost-effective and broken down into various steps like pre screening, and
skill-check. A minimum turn-around- time with a regular follow-up and round the clock support are
our key features, which help us to deliver at all times. The exclusive and massive database
comprising of skilled and dynamic professionals from all verticals, further amplifies our chances of
success at a faster rate.From a senior level to an entry level or a junior level position, our recruitment
process ensures proper validation check before the candidate is sent to our client. This strong
process driven approach helps only send quality candidates to our clients.

Our Services cater to :

1. Automobile
2. Construction
3. Health care
4. Oil and Gas
5. Hospitality and Hotel
6. Retail
7. BFSI
8. Education and Training.

Blue Collar Services

Blue Collar Services that we provide is widely acknowledged amongst the buyers as we find
apt person with the perfect skills required for a particular job after analyzing the demands of our
clients. In order to be sure that only that best candidates are forwarded to the clients, our team of
veterans conducts many tests to screen the candidates.
It is our motive to acquire satisfaction from both clients as well as candidates and so our
screening methods are reasonably priced and very short and snappy.

Our Services

Staffing Solutions:

Temp / Contract Staffing

Payroll & Benefits Outsourcing
HR Operations Outsourcing
Project Resourcing

HR Outsourcing:

HR Outsourcing & deployment

HR Strategy
Compensation & Benefits planning
Competency Mapping

Recruitment Solutions:
Recruitment Process Outsourcing
Senior management headhunting
Sourcing Strategy
Recruitment & advertising campaigns

Training Solutions:
Management education
Personality enrichment
Communication & Culture building
Outdoor management development programs