Talent Management in Software Industry

In order to achieve the specific goals and objectives, organization should develop and deploy talented people who can carry forward the passion and vision of the organization. Although organization possess marketing knowledge, technical ability, operational excellence, vitality and motivation are always important. Talent management is a term that emerged in the sass’s to integrate an increasing focus in Human Resource Management on planned and strategic management of employees, often with a focus on senior leaders. The connection between human resource development and organizational effectiveness has been established in since ass’s.

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The profession that supports talent management became increasingly formalized In the early sass with the organizations Like .NET(New Talent Management Network) emerging to support professional growth in the field. The .NET defined the boundaries of the field through surveys of those in corporate talent management department In 2009-2011 . Those surveys Indicated that actively within talent management included succession planning, assessment, development and high potential management, Talent is a word used to define highly capable workers.

These individuals possess significant lob experience In their functional areas and a strong knowledge of the industry they work in. Talent management is a set of tactical human resources methods and practices ensuring the viable effectiveness of the most capable workers within an organization. Talent management involves individual and organizational development in response too changing and complex operating environment. It includes the creation and maintenance of a supportive, people oriented organization culture.

Talent management Meaning of Talent Management The term Talent Management is being used to describe sound and integrated human source practices with the objectives of attracting and retaining the right Individuals, for the right positions, at the right time. Organizations are run by people, and the talent of these people will determine the success of organizations. Doffs businesses look increased global competition, shifting markets, and unexpected retain the skilled workers they need.

Talent management is a conscious approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organizational needs. Talent Management is on HER professionals hands these days, as HER works to obtain, attain and develop manpower. For talent management to be effective, what is important is to hire employees who seem to be the best fit in the organization. Organizations are taking steps to manage talent most effectively and also to develop their own employer brand.

These brands simplify decision-making and communicate the value they create for their customers. Likewise, employees also identify themselves with certain organization especially in the light of forecasted labor shortage. Organizations that formally decide to “manage their talent” undertake a strategic analysis of their current HER processes. This is to ensure that a co-ordinate, performance oriented approach is adopted. History Of Software Industry In India : The growth and economic development of any country depends upon service sector and the manufacturing sector.

Among all the major service sector industries, information technology industry is a vital sector for the Indian economy. IT industry has growing. 7 percent of RSI. 91,800 core in 2011-2012 from RSI. 78,600 core in the previous fiscal year. The IT sector has been growing compound annual growth (CARR) of 17% during last five years (2007 – 2012). The Indian IT industry originated under very unfavorable conditions. During olden times local markets were absent and government policy toward private enterprise was hostile.

The Indian IT Industry was begun by Bombay-based conglomerates who entered the business by supplying programmers to global IT firms located overseas. During sass’s the Indian economy was state-controlled and remained hostile to the software industry. Even the Import tariffs were high like 135% on hardware and 100% on software. Even the exporters were ineligible for bank finance. In 1984 Rajah Gandhi became Prime Minister and the Government policy towards IT sector changed. The New Computer Policy (NC-1984) consisted of a package of reduced import tariffs on hardware and software which reduced to 60%.

Even during this time the recognition of software exports as a “diligences industry”, was done so that banks were eligible for finance and freed from license-permit raja, there was even the permission for foreign firms to set up wholly-owned subsidiaries. All such policies are reasons for the the development of a world-class Indian IT industry. Today, IT companies in India such as Data Consultancy Services (TTS), Wiper, Inflows, HCI are well known in the global market for their IT competency. Indian IT Industry development and contribution to the world’s information technology sector is of highest reputation.

The active users were 52 million in September 2009 when compared to 42 million in September 2008, registering a growth of 19 % year- on-year, stated the report. Top Ten IT Hubs in India: Bangor, Achaean, Hydrated, Pun, Combaters, Delhi, Iambi, Kola, Trinitarian, Koch. These are all the top IT hubs and a pride for Indian Software industry. Need of Talent Management in Software Industry: Talent management has become a managerial technique in an organization which needs to retain its own cadre.

Now a days it is getting easier to the management in welcoming the fresher into the organization. At the same time it is difficult to retain them for a long run as new opportunities for better career come flashing to them day by day once they acquire knowledge on the system through a speculative training and practice at the cost of the employer. In this situation, the top management should create tools and techniques to retain them. According to me, the reason behind leaving the organization is “Lack of identity’ in the organization.

Employee may feel that the person who actually holds the key of his career development fails to has successfully carried out and even not mentioning his name to the people who actually matters. As we know that, organizations comprise many talented people who do not come out due to their intrinsic nature. For example, a student in the class possesses extraordinary knowledge and abilities, but he always is a back bencher. However his teacher or parents should encourage him to bring out the inner talent to achieve a bright future.

In many organizations employees try to be noticeable through references, personal contacts, networking etc. They are not supposed to be truly talented but they often be noticeable by their superiors and they gain appraisals, rewards and promotions. Hence organizations should try to hunt and boost talented people to be perceptible in gaining personal contacts, references and popularity. In the present era talent management is becoming more and more vital to the growth and profitability of today’s organizations because companies are investing a high costs on employees.

The expenses includes soliciting, training, promoting, and retaining employees takes a massive portion of the companies resources. But as the workforce remains to be viewed as an increasing strategic asset, then these costs will be considered as well – spent. Vital Elements in Talent Management: 1 . Understanding the environment in the organization: Truly understanding the environment within which we are there and some elements they can be benefit and others can be determine in your talent search. 2.

Identifying goals and objectives and clearly disseminating them to staff members: we must understand the organization goals and objectives and also department goals and objectives ideally should be organizations goals and objectives. 3. Ascertain the competencies that are necessary to achieve the goals and objectives within the organization: There are pacific skills and competencies that personnel must possess in order to achieve goals and objectives within the organization. It is important to identify these goals and objectives incompetence in truly communicate to the employee. . Clearly pinpointing the gaps between the competencies the staff possess in and the competencies to achieve the goals and objectives within your organization. We need to assist our staff, our staff has various levels of competencies, those competencies may or may not directly or indirectly align with competencies they achieve if accessory support our goals of the organization. 5. Filling the gap by developing current employee or by obtaining those competencies from the staff we have from outside.

Filling the gap between the competencies that we identify is necessary to achieve goals and objectives and the competencies that the staff possess. Filling the gaps can be done by either developing current employee or by acquiring talent from outside. Talent Management Process: 1 . Entry – The first step in talent management comprises of workforce planning, and Orientation. A. Workforce planning : It is a systematic identification of what exactly an organization needs in terms of quality and size of workforce to achieve the goals and objectives of the organization. T defines what kind of experience, skills and knowledge are required and leads to get the right number of right people in the right employee to adjust to the new environment and to take part in the continuous colonization process in an organization. Important objectives of orientation are to (1) Increase employee commitment, (2) reduce his or her nervousness, (3) help him or her to understand organization’s expectations, and (4) convey what he or she can expect from the Job and the organization. 2. Development – Career bathing, Attitude, Mentoring. A.

Career bathing: Career bathing is the process used by an employee to chart a course within an organization for his or her career path and career development. Career bathing involves understanding what knowledge, skills, personal characteristics, and experience are required for an employee to progress his or her career laterally, or through access to promotions and / or departmental transfers. B. Attitude: It helps the employees to reply positively or negatively towards a certain object, action or a situation. Four major components of attitude are (1) Affective: emotions or feelings. 2) Cognitive: belief or opinions held consciously. (3) Connotative: inclination for action. (4) Evaluative: positive or negative response to stimuli. C. Mentoring: This helps the new comer to know about the environment in the organization. Mentor acts as a guide, advisor and as a counselor to a Junior or a trainee. Mentor provides information on various departments, providing support to carry out the assigned work and to make them familiar to the organization. 3. Performance – The third step in the talent management process is the reference.