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: [email protected] or contact at
09882243490

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