MU0017-Talent Management and Employee Retention

Winter-2015

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Master of Business Administration - MBA Semester 4

MU0017-Talent Management and Employee Retention

(Book ID: B1869)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. Explain the key elements of Talent Management System.

Answer. Key Elements of a Talent Management System

Recruitment and Selection: Recruitment is the process of finding and hiring the best-qualified candidate for a job opening, in a timely and cost effective manner. Recruitment and retention have become a big challenge for organizations 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.

Q2. Define Talent Management. Discuss the Talent management Approaches.

Answer. Talent Management

Talent Management is useful to both the organization and the employees. It is defined as a conscious and systematic approach taken up to attract, identify, develop and retain productive and engaged employees with aptitude and abilities to meet current and future organizational needs by fulfilling the business/operation critical roles. Its goal is to create a high-performance, sustainable organisation that meets its strategic and operational goals and objectives.

Q3. Define talent planning. What are objectives and steps of Talent Planning?

Answer. Definition of talent planning - A conscious, deliberate approach undertaken to attract, develop and retain people with the aptitude and abilities to meet current and future organisational needs.

Objectives of talent planning – Talent management is a key succession planning tool that provides an integrated means of identifying, selecting, developing and retaining top talent within our organization which is required for long term planning.

Q4. Explain the key Compensation principles. What do you mean by Total Rewards? Discuss the elements of Total Rewards.

Answer. Compensation is the HRM activity that deals with every type of reward that individuals receive for performing organizational tasks. It is basically an exchange relationship. Employees exchange their labour for financial and non-financial rewards. Financial compensation is both direct and indirect. Direct financial compensation consists of the pay an employee receives in the form of wages, salary, bonuses, and commissions. Indirect financial compensation (also called “benefits”) consists of all the rewards that are not included in direct compensation, such as vacation time and insurance coverage.

Q5. Explain the organizational issues pertaining to Talent Management.

Answer. Organizational issues pertaining to Talent Management

Organizational issues pertaining to talent management could arise because of focus and fit.

(i) Focus: The different types of focus are:

Step by step focus: In this, managers look for employees with potential to take one step ahead in their career. Talent management needs to have a proactive approach to both skill enhancement and career progress

Q6. Write short notes on:

A) Workforce Analysis

B) Talent Review

Answer. a. Workforce Analysis

It is a systematic process in which an organization identifies the critical jobs and competencies, needed for the current and future employees, and develops strategies to overcome any gaps.

Its main priority is using information to obtain an overview of the workforce and targeting talent management initiatives which include:

a)    Identifying critical job roles for analysis and planning.

b)    Reviewing knowledge/skills/attributes needed.

c)    Determining employee population for review.

Winter-2015

Get solved assignments at nominal price of Rs.125 each.

Mail us at: subjects4u@gmail.com or contact at

09882243490