CONCEPTUAL BACKGROUND

CONCEPTUAL BACKGROUND

3.1 Creating a Competitive Advantage Through Talent Management:-

The employee base can provide a substantial and renewable resource for corporate success and a
competitive advantage when well-managed. Leaders spend a great deal of time considering how
to improve organizational output by leveraging the assets they manage. An underappreciated
variable lies in a company’s human assets, which have been empirically linked with improved
financial, customer and operational outcomes. The clear message is the employee base can provide
a substantial and renewable resource for corporate success and a competitive advantage when
well-managed.

Leadership and organization development processes often focus on one aspect of highly
performing companies, such as quality leadership, talent management or an engaged workforce.
However, excellence in any one or two of these components is not sufficient to ensure long-term
success. Added value is gained by integrating all three components together in a synergistic effort.
The integration of efforts has received attention from leading management thinkers. For example,
David Ulrich, Jack Zenger and Norman Smallwood� assert that successful leaders focus
simultaneously on strategic direction, leadership, garnering employee commitment, creating
organizational capability and balancing the outcomes of each competency. Similarly, maximizing
work force impact on organizational outcomes over time lies in understanding and proactively
managing three elements of an organization’s talent: leadership, staff capabilities and employee
engagement. Quality stewardship of these creates a powerful and measurable drive for
organizational performance.

Workforce Capability: The Foundation of Success

Workforce capability refers to an organization’s ability to accomplish objectives through its

employees. Comprised of the aggregated talent base, the capacity necessary to carry out the
mission and achieve the vision, and the appropriate deployment of staff, this capability is defined
as:
 Employee knowledge, skills and abilities as evidenced by education, years of relevant experience,
certifications, specialized skills, functions performed and tenure in current position. It also can
include measures of “ability to contribute,” such as performance evaluations and competency
model assessments.

 The number and levels of people with various skill sets in the workforce and their projected
turnover, recruitment and retention. “Restocking” consideration also is given here, including
recruitment goals, development needs and plans, and retirement projections that typically fall into
talent management planning.

 Immediate and projected availability of given talent pools at stated capacity levels in a time frame
required to achieve business goals and strategies.

This is the “right number, right skills, right time” conversation that line managers concern
themselves with when new or evolving staffing needs emerge Effective measurement requires a
focus on understanding, predicting and tracking organizational readiness to accomplish critical
strategic objectives. It starts with understanding organizational strategy related to product mix and
timing decisions, and then assessing the attendant talent demographics and needs.

Measurement includes an assessment of critical skill turnover and net hiring, education and
experience blend by job family, product line or facility. Further, an assessment of the relationship
between critical employee performance and unit outcomes—employee success ratio — helps
identify who to place on given efforts or product lines.

Engagement: Making Employees Owners

The element in the model refers to the extent to which employees are fully occupied and focused
on their work and the company’s mission. There is compelling evidence — including a 2006
global employee engagement study by ISR — that employee engagement is linked to
organizational outcomes, including productivity, profitability, retention, customer satisfaction,
operating margin, net profit margin, operating income, net income and earnings per share.
 Organizations with employees who understand and believe in the company’s mission, customer
proposition, values and standards enjoy greater success on a range of business outcomes. Various
models and formulations exist, with survey questions asking whether an employee would refer a
friend to the company, if one is considering leaving the company, etc. Models also have been
developed to measure employees’ engagement in the company’s business and outcomes. Three
aspects of employee engagement emerge from these models:

 Personal connection, enthusiasm and pride with the mission and values of the organization.

 The opportunity to use one’s skills, learn and develop professionally.

 Commitment to excellence in work effort and product.

In the form of an employee survey, data is collected and analyzed to identify both strengths and
opportunities for improvement. Whether one chooses to use an existing in-house survey or one
specially tailored for this purpose, a key element of engagement measurement is recurring
administration, both as a pre- and post-test of an intervention and as an ongoing scorecard for
management tracking and attention.

It is best to survey a random sampling of employees across the enterprise on a regular basis so that
every employee is polled once per year. These will keep the dashboard data fresh in leaders’ and
managers’ minds

Performance

The objective of the model is improved organizational performance. It is important to note that
meta-measures such as stock price, profitability and other primarily financial measures are
indictors of overall outcomes, and the influences driving them encompass much more than just
the workforce. To establish workforce impact, one must measure the extent to which
organizational performance is specifically driven by employees. For this reason, using
performance measures directly linked to each of the three model components is crucial to
demonstrate the impacts of any interventions on them. This is most easily achieved at the business-
unit level, where the cause and effect and/or correlation relationships with specified efforts
happen. The direct influence of the workforce on performance outcomes is more clearly articulated
in strategy-targeted metrics, rather than global performance metrics that are impacted by other
factors such as stock-market trends.

Measurement: Linking the Pieces

Linking leadership performance to workforce capability and employee ownership via clearly
communicated measurement connects the workforce factors that affect the bottom line. This
improves performance by not only ensuring the proper mix of necessary workforce requirements,
but by improving accountability. Efficiency is gained by directing the focus of efforts to aspects
of the model that contribute to enhanced organizational success. Results, reported via an integrated
dashboard, provide a basis to focus on activities that indicate a need to either change course or
rebalance priorities.

The Power of Three

Each of the three aforementioned components of the model is linked to quality of organizational
outcomes. The competitive advantage is gained by integrating the management of all three
together. Putting this into practice requires not only the multidimensional focus on leaders,
capabilities and engagement, but also an attention to the specific impact of the combination of the
three, measured and evaluated through clearly reported analysis to identify organizational
strengths, weaknesses and resulting action plans. While companies seek improvement and market
leadership through a variety of avenues, only a handful have achieved greatness by leveraging
human assets. However, by integrating, measuring and focusing efforts on leadership, workforce
capability and employee engagement simultaneously, the employee base can be turned into a
competitive advantage. Disciplined approaches to understanding and managing these, with a
course of action designed to improve the company position, will lead to a workforce that is
prepared, deployed and motivated to make an impact on organizational strategies.
3.2 Company Retention policy:-
Some of the measures undertaken by Beekaylon Synthetics Pvt. Ltd. to hire and retain talent in
the organization, to be efficient and competitive in this highly competitive world are

Hire the Right People:

Proper care must be taken while hiring the people itself. It would be beneficial for an organization
to recruit young people and nurture them, than to substitute by hiring from other organizations.
Questions to be asked at this stage are: Whether the person has the requisite skills needed for the
job? Whether the person's values and goals match with those of organizations? In short, care must
be taken to fit the right person to the right job.

Keep the Promises:

Good talent cannot be motivated by fake platitudes, half-truths and broken promises. Unfulfilled
expectations can breed dissatisfaction among the employees and make them either leave the
organization or work below their productive level. Promises made during the hiring stage must be
kept to build loyalty among the employees, so that they are satisfied and work to their fullest
capability.

Good Working Environment:

It has to be accepted by the organizations that highly talented persons make their own rules. They
have to be provided with a democratic and a stimulating work environment. The organizational
rules must be flexible enough to provide them with freedom to carry out their part of task to their
liking, as long as the task is achieved. Opportunities should also be provided to the employees to
achieve their personal goals.

Recognition of Merit:

It is highly motivating for any person if his talent is recognized and is suitably rewarded. One way
is providing them with salary commensurate with their performance. Promotions and incentives
based on performance are another way of doing it. Another way is by providing them with
challenging projects. This will achieve two objectives - it makes employee feel that he is
considered important (a highly motivating factor) and gets the work done in an efficient manner
and brings out the best in the employee.

Providing Learning Opportunities:

Employees must be provided with continuous learning opportunities on and off work field through
management development programs and distance learning programs. This will also benefit the
organization in the form of highly talented workforce.

Shielding from High Work Pressure:

If an organization has to make the most of the available talent, they should be provided with
adequate time to relax, so that they can did-stress themselves. It is very important to provide them
with holidays and all-expenses-paid trips, so that they can come back refreshed to work and with
increased energy. They must also be encouraged to pursue their interests which are also a good
way of reducing work environment stress. Recreation clubs, entertain programs, fun activities with
in the work area will also reduce the work life stress of the employees and develop camaraderie
among the workers and result in a good working environment.

TALENT & PERFORMANCE

Organizations provide individuals the opportunity and space for physically manifesting their
talent into performance for achieving individual and organizational vision. Talent manifests into
performance as follows