Assignment Set- 1

Q.1 Write a Note on Scope of Talent Management? Ans:The emergence of talent management as a separate technology category can partly be related to the success of HR departments in successfully creating basic technology systems to simplify the processes such as payroll and leave management. As Talent Management has evolved, some design issues have been identified. Targeting jobs: The first issue is to identify the types of jobs that will be the focus of Talent Management. In some organisations Talent Management focuses on the CEO and other executive jobs, rather than focusing on a broader category. Other organisations target primarily senior management jobs, mid level managers and other key jobs. One study found that out of the groups and individuals considered as Talent, 86% were senior leaders, 82% were mid managers, and 75% were key technical and other contributors. However, these three groups only represent about one third of the total workforces of many organisations. Targeting high-potential individuals: Another issue associated with talent management is its importance to individuals in organisations. The problem with implementing effective talent management system is that managers at all departments are not committed to the required time and effort, which limits successful activities. Some organisations concentrate talent management efforts primarily on high potential individuals, often referred to as high-pos. Attracting retaining and developing high-pos has become the main priority of senior managers and HR efforts. Some organisations classify individuals as being among the top 10% and then set restrictions on the number of people who can participate in intensive talent management efforts. For example, IBM restricted participation in its leadership development programs to only those who were likely to become executives within 18 months. Targeting primarily high-pos may lead to many of the other employees feeling isolated. Thus, talent management needs to include more than the top 10%. Need of talent management Workforce cost is the major portion of resources spends for most organisations. Automation and analysis of the recruiting and hiring processes provides the immediate workforce needs and insights required to significantly improve the bottom line. Performance management provides the ongoing processes and practices to maintain a strong workforce. Today, many organisations are facing a lot of problems of HR processes and technologies. The future of talent management is enclosed in solutions designed from the ground level to provide business-centric functionality on a unified talent management platform.

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Since many competitive business factors have become commoditised, talent is the ultimate driving force behind the business success and creates value. Top organisations rely on Talent Management solutions and services to assess, acquire, develop, and align talent with business objectives while significantly reducing process costs, improving quality of hire, reducing risk, and achieving higher levels of performance. Though it may seem spontaneous, it is worthwhile to express the fundamental significance of successful talent management practices as follows: The key enabler of any organisation is talent. The quality of the people is the 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. Talent management involves individual and organisational development with respect to a varying and complex operating environment. It also includes the creation and maintenance of a supportive, people oriented organisation culture. Importance of talent management Like human capital, talent management is gaining increased attention. Talent management (TM) brings together a number of important human resources (HR) and management initiatives. Organisations that officially decide to manage their own talent carry out a strategic analysis of their current HR processes. This is to make sure that a co-ordinated, performance oriented approach is adopted. Many organisations are adopting a TM approach which focuses on co-ordinating and integrating methods which are given as: Recruitment: To ensure the right people are attracted to the organisation. Retention: To develop and implement practices that reward and support employees. Employee development: To ensure continuous informal and formal learning and development. Leadership and "high potential employee" development: Specific development programs for existing and future leaders. Performance management: Specific processes that nurture and support performance, including feedback/measurement.

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 Workforce planning: To plan for business and general changes, which include the older workforce and current/future skills shortages. Culture: To develop of a positive, progressive and high performance way of operating. .

Q.2 What are the key elements of talent Management system. Elaborate? Ans:Talent management practices and techniques have evolved over time in response to a changing workplace. The most effective talent management processes are organisation-specific and react to an organisations distinctive business and human capital framework. Talent management includes a range of interdependent processes and procedures that need to be properly integrated. The organisation will not achieve the desired level of human capital performance if talent management processes do not operate as a unified group. The key elements of Talent Management System are explained as follows: Selection: Selection is the process of choosing a candidate amongst a number of probable candidates. Recruitment and Retention has become a big challenge for organisations due to the continuing global talent shortage, the changing worldview of work by new generation employees entering the workforce, and the ever increasing evidence that poor recruitment decisions have a direct impact on the bottom line. Recruitment process that is not merit-based and has poor reliability and validity are a burden to an organisation and can even expose the company to discrimination claims. Poor hiring choices can affect the organisation in additional recruitment costs, training and orientation costs, loss of time, lost opportunity, lost revenue, loss of competitive advantage, tarnish image and reputation. It is about recruiting the right people in the right place at the right time. Organisations need to filter their attraction, recruitment and selection approaches to ensure they have the right talent on board to enable them to remain competitive. A global view that includes a diverse workforce is critical. Induction and training: Induction is the formal entry of the selected candidates into the organisation and Training is to develop their knowledge, skills and competencies by teaching with respect to the organisational requirement. Employers should not assume that new hires can cover for themselves, and will only need brief introductions and a chunk of corporate information to get them started. Although lost profits due to the training of a new hire has been estimated as 1.0 2.5% of total revenue, it is clear that this induction period is vital given that 6.3% of people leave within the first 6 months of starting in a new role, which is typically due to their induction experience. A proper induction program helps to reduce employee discomfort, improve productivity and save money. After an effective, useful and timely training experience should be the progressing development chances that support the individual in the role, but also the organisation in achieving its broader objectives. Such training, where possible and practical, should be in-time rather than in-case to provide training environments and materials that change to meet individual or small group demands precisely at the time when new skills are needed. MU0017 Talent Management Page 3

Capability development: Customised improvement opportunities for key talent are seen as an essential component for motivation and retention of these people. In the present scenario, developing the current employees is a more cost effective and efficient means of maintaining internal talent pools rather than recruiting new people and wasting vital resources on their training. Career growth also has a major impact on job satisfaction and commitment, to an organisation that relates directly to the retention of dynamic employees. Both high potentials and core contributors should be given enough opportunities to develop by the internal talent management in order to maintain operational effectiveness and output. Key performers and core contributors require different growth experiences that should be modified accordingly for maximum profit. Committed leaders are required to emphasise the idea on both groups given their competing business priorities. The Talent Development structure adopted by an organisation needs to support the talent capabilities required for the future and needs to be able to blend with ongoing changes. Good leadership quality in a global and increasingly diverse workplace is a highly sort after competence, and this must be embedded into any comprehensive development program. Other elements will be established by the business strategy. Performance: A performance management system increases the productivity and confidence in an organisation, if planned and implemented effectively. An example of the problems in performance management is that, 34% of surveyed Australian organisations using appraisals had no formal performance management policy in place. The increasing number of new generation employees in the workforce adds thrust to the importance of a transparent, objective performance management process as they perform best in a culture that encourages feedback. Performance management systems should be visibly related to training or development and recognition or compensation systems within the organisation in order to increase productivity and retention. Organisations can also defend themselves against legal action resulting from discrimination or unfair claims through use of a legitimate and fair performance management system. Retention and succession: Retention is the measure taken to encourage the employees to remain in the organisation for longer period of time. Succession helps an organisation to ensure that employees are hired and trained to fill each key position within the organisation. Employee retention is an important issue for top leaders in organisations all over the world. In todays world an abundance of jobs are available in the market for a job seeker and therefore employers must compete to attract and retain the talent they need to fulfil their organisational objectives. Talent retention is necessary to good quality, customer satisfaction and operational efficiency. Typically, companies prefer to induct 85% of their leaders through internal placement. For example, Hewitts Top 10 Companies in the Asia Pacific develop 76% of their leaders internally while a global survey found a 30% failure rate when placing highly sought after external talent. It is evident that organisations with high quality strategic improvement programs and succession management programs have greater business results. In addition, increasingly rigid labour markets make succession management a business necessity and force organisations to identify and accelerate the development of future leaders from within. The stable organisations under such pressure need to have an effective succession management policy in place, with a particular focus on the continuity of key specialists and leaders. MU0017 Talent Management Page 4

Other key elements of talent management Besides the four above elements of talent management, some other elements are also available that help to characterise the relationship between talent management and conventional recruiting. They include: A focus on high impact positions: A talent management policy requires managers and HR to determine an organisations success by filling top talent in the appropriate jobs. Accountability: Talent management assigns accountability to the chief talent executive for managing the talent pool, who is responsible for results, not effort. Rewards and metrics: Talent management builds support and relationship between earlier independent efforts through its common objectives, metrics and rewards. Thus, no independent effort can be considered successful unless the overall talent management effort is also successful. Balanced metrics: Talent management attracts managers attention by instituting a system of methods and rewards that ensures every executive is acknowledged and rewarded for excellence in human resource management. It simultaneously evaluates employee commitment to ensure that managers reach their productivity goals while using the appropriate organisation behaviours. Business approach: The talent management approach is not taken from an overhead or administration model. It is created from and replicates other successful business process models, like supply chain management, finance, and lean manufacturing. Recognition of the business cycle: The talent management strategy involves identifying the different types of talent required with respect to changing business situations. Consequently, talent management requires the constant internal movement of talent in and out of jobs and business units based on current business needs and where the company is in its business cycle. Truly global: Talent management encourages attracting, retaining, and developing the best talent no matter where it is. Focus on service: Flawless service is the expectation of talent management. Customer satisfaction, process speed, quality, and commitment are continually measured. Anticipation: While conventional recruiting and retention tend to be reactive, talent management is forward looking. It predicts and alerts managers about upcoming problems and opportunities. It indicates managers to act before the need arises in talent management issues. The overall objective of this unit helps you to understand the Talent Management System and how it is implemented in an organisation. It also explains the critical success factors used to ensure the organisations have the right people in the right jobs. This unit provides a list of primary and applicable merit principles to state the responsibility and role of an organisation and workforce productivity. You also came to know about the key elements which are required for an effective Talent Management System. .

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Q.3 What are the five selection processes in talent management? Ans:Having the right person in the right job is the key to the success of any business, while having the wrong person in a key position adversely affects an organisation. Every key job or position has a number of complex requirements that might be difficult to identify. Talent Selection is an enduring procedure that requires proper planning in order to achieve the expected results. The Talent Selection consists of five selection processes. They are: 1. Job benchmark: This process determines key responsibilities of the job which is being benchmarked, as well as individual competencies, motivation and skills required by the job. All of this can be accomplished in a three hour meeting of four to ten people who really know the job. The process is backed by a 30 minute online evaluation of the job that each participant has to attend individually to create a composite model of the key attributes required by the job for success. One important result of the process is high buy-in of all participants for the real requirements of the job. 2. Assess candidates: This process is used to Assess Candidates with the Personal Talent Report. This report reflects a candidates personal competencies, motivators and skills with very high validity and precision. 3. Compare job and talent: The third process is to compare the requirements of the job and the talents inherited by the candidate. The purpose here is not to judge the character of a person, but rather to analyse how well they fit the particular needs of a specific job. 4. Behavioural interviewing: The fourth selection process is to enhance the assessment data with effective behavioural interviewing. The key to effective interviewing is having the right questions for the particular job. 5. Selection: The last stage of the process is making the selection. Now that all the information is collected about the candidates qualifications, this process has a whole different perspective. While it may not be possible find the perfect fit for a particular job, a candidates limitations are known and importance of those particular attributes are linked to other attributes for success in the job. Once the selection is made the applicant is given proper training and developing to assure their success going forward.

Q.4 Discuss some strategies to improve employee retention? Ans:The organisations are facing many issues when the recruiters find it tough to identify skilled and more challenging younger workforce, and an increasing number of older workforces heading towards retirement. The complexity in identifying and maintaining talented people is having a disastrous impact on many businesses throughout the world. According to the investigations, one out of every three people plan on quitting their jobs every year. The biggest challenge that the employers face is the risk of losing their best and skilled talent to the competition.

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Money and benefits are essential, but still according to the survey; it is evident that most employees leave their jobs for different reasons. Apparently, some turnover is inevitable, but still with a small amount of organisational effort can make a huge difference. Top 20 strategies to improve employee retention It is evident that turnover is expensive. According to the recent survey done, it is found that the average expense to substitute a leaving employee is 30 percent of that employees salary. The full amount includes expenses incurred while the position is vacant, for example, overtime expenses for other employees or the expense of hiring temporary employees; the expenses associated with identifying and choosing a substitute employee (including advertisements, interviews, and referral bonuses); and expenses on training the new employee. Given below is the list of 20 main strategies adopted to build dedication and loyalty among employees and enhancing the departments retention rate: 1. Propose reasonable and competitive salaries: Employee loyalty is assured by both reasonable compensation and offering reasonable salary. Regular salary reviews are conducted for various job designations entry-level and experienced workforce to retain employees. 2. Consider the benefits: Although benefits are not the main reasons for employees to work in a company, the benefits offered must not be obviously worse than those offered by the opponent companies. 3. Guide supervisors, managers, and administrators: It is not often true that employees stay or quit the company because of their bosses and not because of their companies. It is very crucial to have a good employee/manager rapport for employee satisfaction and retention. The managers should be properly trained to develop good supervisory and people-management skills. 4. Clearly the job roles and responsibilities: Prepare an official job description for all the positions in the department. Ensure that employees have a clear idea about what is expected from their job and what kind of own decisions they are allowed to make, and to whom they are supposed to report. 5. Offer sufficient improvement opportunities: Implement a career ladder and ensure that employees know what to do to get promoted and this in turn encourages employee loyalty. Regular performance reviews need to be conducted to recognise employees strengths and weaknesses. This enables them to progress in areas that are essential for job advancement. A clear and advanced professional growth plan helps employees earn their incentive based on their performance. 6. Propose retention bonuses instead of offering sign-on bonuses: The employees are provided with longevity allowance and are normally rewarded with an annual raise and added vacation time after three, five or 10 years. Offering other seniority-based incentives would be a better option for developing a retention rate, for example, providing a paid membership in the employees professional union, a paid membership to a local sports club, and full compensation for the expense of the employees uniforms. Sign-on bonuses support technologists to change their jobs, whereas retention bonuses offer incentives for staying.

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7. Hold somebody answerable for retention: Determine the turnover rate and hold someone responsible for reducing it. 8. Perform employee satisfaction review: An unspecified employee satisfaction review must be performed on a regular basis to determine the pulse of workplace. 9. Promote a teamwork environment: Although more time and effort is required to build an efficient team, but the output will be improved productivity with better usage of resources and enhanced customer service and increased confidence. Given below are some ideas to promote a teamwork environment in a particular department: Ensure that all employees realise the departments purpose, task or goal. Encourage conversation, participation and contribution of ideas. Rotate leadership tasks and roles based on employees abilities and the team requirements. Engage employees in decision making and allow them to make decisions through agreement and teamwork. Support team members to appreciate their colleagues for their advanced performance or achievement. 10. Avoid the paperwork trouble: Paperwork pressures can make employees feel more stressful and burnout. Reduce needless paperwork; change more paperwork to an electronic format; and appoint nonclinical organisational staff to look after the paperwork burden. 11. Have some fun: Recognise when the targets are achieved and celebration for successes are necessary in a fun-filled environment. Team lunch or dinner, birthday parties, team outings, and creative contests will make people think that the company is a great place to work. 12. Develop a mission statement for all the departments: All the employees must work towards a meaningful and valuable goal or mission. Hence, develop a departmental goal statement working with the staff and later publicise it for everyone to see. Ensure that employees understand their contribution to the organisation is very crucial. 13. Offer a variety of tasks: Identify employees talents and then motivate them to widen their abilities into new fields. A variety of challenging assignments or tasks assist in keeping the workplace inspiring. 14. Ensure an open communication: It is evident that most of the employees are dedicated to a company when they believe that their managers keep them informed about major organisational issues. Hence, an open interaction between the employees and the managers is necessary, and it is nearly impractical for a manager to "over-communicate." 15. Promote learning: Provide opportunities for the technical team to grow and learn. Provide them compensation for seminars and professional meetings; talk about current journal articles with them; allow them to explore a new scheduling technique for the department. Inspire employees to know about at least one new thing regularly, and create a work force that is energised, encouraged, and committed. MU0017 Talent Management Page 8

16. Be flexible: It is a known fact that todays employees are committed outside their job, which often includes responsibility for children, aging parents, persistent health conditions, and other problems. They will be dedicated to workplaces only when their lives are made more convenient by providing them onsite childcare centres, onsite hair styling and dry cleaning, flexible working hours, part-time positions, job-sharing, so on. For example, employees who have children of school-age would like to work nine months a year and would like to spend the summer vacation with their children. 17. Create an efficient orientation program: Adopt an official orientation program which includes a methodical overview of all the areas of department and an introduction to other departments. Allot a senior staff member as a tutor to the new employee during the orientation period. Create a checklist of topics with the employees to ensure that all the topics related to orientation are effectively addressed. 18. Hire aides: Consider hiring aides who can carry out non-clinical tasks in the radiology department to enhance both confidence and productivity among the technical team. These aides help in office duties, transport patients and process films. 19. Provide employees the best equipment and supplies: No employee would prefer to work with equipment that is old or that is facing continuous breakdown problems. Ensure that the equipment is in suitable working condition, and frequently upgrade machines, computers and software. Additionally, provide employees with the best quality resource materials that are affordable. 20. Ensure employees that they are valued: Identify excellent achievements promptly and openly. Also, focus on small achievements that employees make on a daily basis to the organisations mission.

Q.5 Discuss the role of HR in Talent Management? Ans:Talent Management involves identifying the right talents and developing those talents into personnel competencies, which is required by the organisation to have highly efficient and high performance human capital. In the recent years, as the demographics of workforces have changed, organisations of all size consider talent management as a crucial activity. The importance laid on talent management has increased the pressure on HR department in an organisation. The HR acts as a backbone for Talent Management. The HR is responsible for the training and development activities of an employee in an organisation. When it comes to talent management the HRs role is concerned with enhancing the development, attraction, and retention of their employees. The HR is responsible to establish talent management initiatives. In an organisation, apart from transactions and administrations, the HR is burdened to take more responsibility to become a talent expert. The important areas of talent management that forms a part of HR planning are: Providing value for individuals by creating and maintaining an organisational culture. Identify the needs of an organisation. MU0017 Talent Management Page 9

 Training and developing employees to meet the organisational needs. Recruiting talented people, who are capable of providing further job needs, Conducting and managing HR activities to support talent the development of talent in an organisation. It is the responsibility of the HR to view talent assets of an employee at an individual level. This helps the HR to know what skills, experience, and training each employee brings to the table or needs to acquire. For HR to evaluate the existing skill sets in the industry, they first need to understand how to go about filling current and future skill gaps. This is possible if talent is viewed enterprise-wide at an aggregate level The crucial role of an HR is to attract talented personnel. These days the improvement in the economy and retirement of Baby Boomer creates competition for newer talented personnel. As majority of the employees in an organisation look out for new and better employment opportunities, the HR is responsible for retaining the employees. This can be done by following successful employee retention strategies. The HR are responsible for providing opportunities for employees who prefer to develop their skills and talent and accept challenging work along with compensation. The employees prefer to grow in their career. This can be done by the HR by organising programs for professional and entry- to mid-level managers. The following figure 5.3 shows the roles of a HR in talent management.

Figure 5.3: Roles of a HR in Talent Management Let us now discuss each of these roles in detail. 5.1.1 Getting the best employee

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The HR is responsible for implementing the planned workforce in an organisation. Workforce planning is getting "the right number of people with the right skills, experiences, and competencies in the right jobs at the right time." The HR is responsible to attract the employee with the right talent by considering the organisations goals, strategic plan, budget, resources, and a set of desired workforce competencies. Getting the best employee is nothing but hiring the right talent. Here Right talent means candidates with relevant skill sets and qualifications. Hiring the right employee creates a foundation for more effective performance by the employees, teams, and the company on the whole. Hiring an employee with irrelevant skill sets and qualifications reduces the quality of work and increases the cost of rework. It also reduces the performance of the team and in turn the company. Before hiring, the best employee the HR must have knowledge of the following: The HR must know what he is hiring for. The HR must also determine the skill and the personnel attribute required by a candidate that matches with the requirement of the job. The HR must know the tasks and the responsibilities involved in the job. This is necessary because, the HR will have to give the summary of the job tasks, responsibilities, and objectives of the job to the employee. The HR must also have knowledge of the educational qualification and experience required for doing the job. This is because the education and experience are considered as the two most important characteristics while evaluating a candidate for a job. HR must understand the characteristics required by the personal to grown in the organisation. For example, the interpersonal skill that is required by an individual to be a team leader. HR must have knowledge of the organisations culture. For example giving the hired employee teamorientation, explaining the process followed in the company, the reward system, mission, needs, and goals of the company. The best employee is the person with: The right education + the right experience + a compactable personality. 5.1.2 Paying employees and providing benefits The HR is responsible for administrating the pay and benefits of the employees. The employees pay and the benefits provided to them play an important role in motivating them. The HR calculates and summarises the salary structure to the employee, explaining the employee the pay offered apart from the bonuses, commissions, and other performance related pay. The HR keeps track of each employees earnings and benefits. The HR maintains an extensive record for this purpose and shares the same with the management, government, employees and others in the organisation. The HR also provides employee benefits like health insurance, dental insurance, life insurance and so on. The HR also keeps a track of the vacations pay, holiday pay and the maternity leave of the employee. 5.1.3 Training employees MU0017 Talent Management Page 11

These days we see that many companies offer some sort of introductory training or orientation for their new employees. The training programs are an integral part of the HR department to achieve the objectives of the organisation. The HR organises and conducts training programs for the employees. This helps them develop the required capabilities and skills to perform the tasks assigned to them in a consistent manner. Successful implementation of the training programs increases the performance and the overall productivity of the organisation. Training programs help the employees to develop a greater sense of self-worth, dignity, and well-being. Through training they become more valuable to the firm and to the society. As training increases the productivity of the employee, they can obtain pay benefits, appraisals and obtain better share of material gains. Employee training is important for the following reasons. It: Updates the skills and knowledge of employees on the recent development in tools and technologies. Updates the knowledge of employees in on other fields and areas apart from their area of specialisation. This is required in a multidimensional work place. Exposes new employees passed out from college to practical implementation of what they have studied. Provides career advancement for employees. Motivates the employees to perform well. Helps the organisation to bridge the gap between the requirement of skills and the availability of skills. Helps in employee retention. 5.1.4 Ensuring compliance to regulations HR compliance is important for any business in the present days legal environment. Effective HR compliance programs need to be integrated into any business strategies. It is a process of telling the proper behaviours of an individual or a group in an organisation. The process also assures that the employees properly understand and follow all the laws and processes set by the organisation. The HR must know all the laws and the appropriate policies developed by the organisation. The HR is responsible to communicate all the policies to every level of employees in the organisation. They must also explain them the consequences for non adherence of the policies. The non adherence of policies results in investigation and punishment procedures. The HR must not only communicate the policies but also make sure that the policies are properly implemented and followed by the employees. To ensure compliance to regulations, the HR must: Have the right skills and experience to support the compliance process. Be up dated with all the laws as the laws change constantly, and communicate the same to all the employees. MU0017 Talent Management Page 12

 Create manuals on HR policy, regularly update it, and get it reviewed by the lawyer before implementing it. Train managers and review the policy with each manager, as they interact regularly with the employees. They must also ensure that the managers adhere to the policies and be role models for other employees. Train employees, bring awareness among the employees on the issues like sexual harassment, and update employees about the new policies. Listen to all the employees when they come with an issue. This helps the HR to know the cause for the compliance risk, mange those risks, and bring it to the notice of other employees of the organisation. Provide feedback to ensure employees meet the expectation. HR must also provide employees an opportunity to correct their mistakes. Document all the policies, key decisions, and employee evaluation. A copy of the policy must be given to every employee. The failure to document can leave the HR prone to non-compliance claims. The policies developed by an organisation depend on the nature and needs of the organisation. An organisation may possess the following policies: Policies on work schedule like working hours per day, lunch breaks, holidays, sick leaves, personal leaves, loss of pay (LOP) leaves and so on. Compensation policies like overtime compensation, increase in salary due to promotional, reduction in salary increase due to poor performance, and so on. An organisation adopts laws to govern matters like employee job security, pay, health and safety, opportunities, benefits, and so on. 5.1.5 Ensuring safe work environments Every employee in an organisation that is, from supervisor to workers has a right for safe and healthy workplace. The HR managers must develop safety programs, policies, and a clear workable plan for having a safe workplace. The safety programs like seasonal vaccinations and training the employee in handling emergency situations must be carried out. The management must be train employees on safety issues with the help of safety programs. This helps in bringing in accountability and compliance. The best way to make employees excited with safety issues is to involve them in safety committees, make the part of safety inspection, set goals and so on. Doing this helps the employee feel free to communicate these safety issues to their colleagues and others in the organisation. Ensuring safety at workplace also involves: Diversity management: this involves managing diversity issues like gender, nationality, racism, physical appearance, and so on. The HR is responsible to develop and implement diversity plan as the employees approach the HR directly if they face any such issues.

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 Dealing with drugs in the workplace: some employees get into the habit of taking drugs or alcohol due to the constant work pressure as well as some personal issues. It is the responsibility of the HR to ensure drug-free work place by implementing drug free policy or conducting drug tests for employees. Ergonomics for employee safety: the employees can be trained to use ergonomics in order to overcome work pressure and work safely. Dealing with HIV/AIDS in the workplace: This is to encourage people to support individuals suffering from HIV/AIDS. It also involves fighting and prevention against HIV/AIDS. Preventing violence in the workplace: The HR is responsible to prevent violence at work place such as threatening or employees killing their colleagues by implementing policies and procedures. Supporting spirituality in the workplace: Realising that every employee has his/her own belief, respecting their beliefs, and allowing them to hold on to their beliefs is the responsibility of the HR. this helps in creating a friendly environment. 5.1.6 Sustaining high-performing employees In todays market it is not only difficult to hire an employee but it is also difficult to sustain high performing employee. These days employees working for an organisation look forward for opportunities apart from benefits and compensation. The HR believe that most of the employees look out for other companies which can offer them better environment for growth, compensation and benefits. They believe that some look out for other companies which offer better friendly environment, where they can involve in decision process and be a part of the team. The amount of job stress and the disability to balance between work and home also forces the employees to leave their jobs. Employee retention is difficult to handle because there are many factors that affects it. The HR conducts surveys to know the reason why employees leave the job. They also conduct exit interviews to get a feed back from the relieving employees on the areas of improvement. The HR improves retention by improving the communication between the management and the employees. The also conduct training and provide development opportunities to retain the employees. The HR must make sure the candidate hired fits the job and the work culture. The HR must recognise and understand the important retention drivers, but often many HR fail to realise these factors more than they understand them. The HR must make sure the employee values the work they do, which is important for retention. The HR must possess strong leadership and strong leadership and sound management practices to convince and retain the employee.

Q.6 Define the elements of total rewards? Ans:All of the tools available to the employer that may be used to attract, motivate and retain employees can be termed as Total Rewards. Total rewards include everything the employee perceives to be of value resulting from the employment relationship. The general elements of total rewards include salary, bonuses, stock options or MU0017 Talent Management Page 14

participation in the equity of the organisation. All these elements involve financial investments. Rewards which do not result in monetary benefit can also be used. Examples of such rewards are developing skill, putting into practice ones ideas. These help in reducing the financial investments of the company and provide a higher degree of satisfaction to certain individuals. The Elements of total rewards include the following: 1. Compensation. 2. Benefits. 3. Work-Life. 4. Performance and Recognition. 5. Development and Career Opportunities. Now let us consider each element and explain them: 1. Compensation: Providing monetary value in return for the work performed is known as compensation. Job performance and job satisfaction can be improved by providing compensation. The business needs, goals and available resources are factors that govern compensation plans. Compensation may be used to: - Recruit and retain qualified employees. - Increase or maintain morale/satisfaction. -Reward and encourage peak performance. - Achieve internal and external equity. - Reduce turnover and encourage company loyalty. -Modify (through negotiations) practices of unions 2. Benefits: Benefits provided by the organisation can be either due to law or other benefits which the company is willing to provide to employees though not mandated by law. Facilities such as minimum wage, overtime, leave under Family Medical Act, unemployment and workers compensation and disability are enjoyed by employee since they are made mandatory by law. Benefits such as Hazard Pay, Health Care, Maternity, Paternity, and Adoption Leave, Paid Holidays, Pay Raise, Severance Pay, Sick Leave, Termination, Vacation Leave, Work Breaks and Meal Breaks are benefits provided by employers to employees in order to retain them within the organisation. 3. Work-life: Attracting, recruiting, motivating, and methods employed to retain the workforce determine the success of an organisation. Organisations need to be really flexible in order to retain and develop the workforce and so as to enjoy their commitment and loyalty towards the organisation. Organisations need to constantly work on improving the quality of work life of the employees. MU0017 Talent Management Page 15

4. Performance and recognition: Recognition for performance is an integral and important component of the total rewards portfolio and provides a high return on investment. Workers value recognition for achievement more than any financial reward. Awards directly associated with performance further motivate individuals to perform better. These recognition programs are highly cost effective and valued by employees and are able to reinforce desired behaviour among employees. It is a proven fact that there is a strong link between non cash incentives and improved job performance. 5. Development and career opportunities: Career opportunities can be defined as Providing employees an opportunity to grow, especially to those employees who deliver performance. [3] Development could be in terms of a promotion, increase in pay, acquiring higher skills and opportunity to avail certain exclusive perks. Career development cannot be viewed as a managerial responsibility but it is a composite process. Factors that need to be considered are the people involved, their ambitions, generating roles in accordance with their potential, and creating job positions to satisfy the growth and development ambition of employees.

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