An

Assignment
on

Talent Management and Corporate Culture

Submitted in Partial Fulfilment of the Post Graduate Diploma in Management-
Information Technology

2018-2020

By

Shikha Mishra

Roll no.:19

Under the Guidance of

Prof. Dr. Satya Narayan Singh

Information Technology Programme

Xavier Institute of Social Service, Ranchi

 ACKNOWLEDGEMENT

Through this acknowledgment, I would like to express my deep sense of gratitude to the
people who have helped me to complete the assignment on time successfully.

At the outset, I would like to express sincere thanks to my guide and mentor Prof. Dr. Satya
Narayan Singh and the faculty members at XISS for their constant inspiration and critical
evaluation in the college which has made me complete the assignment on time.

I would like to thank Prof. Dr. M. Banerjee (HOD, IT) for recognizing the potential in me
and guiding me through the assignment.

I am very much thankful to the seniors and team members for their support and guidance
during the assignment who have helped me to complete it from start till the end.

Last but not the least I would like to thank the efforts of my teachers, parents, and well-
wishers who have been a constant source of strength and confidence throughout the
assignment. Their motivation and guidance helped me complete the assignment on time.

Thank You!

Shikha Mishra
Roll no. 19
PGDM-IT (2018-20)
 TABLE OF CONTENTS

INTRODUCTION....................................................................................................................1
TALENT MANAGEMENT....................................................................................................2
What Is Talent Management?.................................................................................................2
Talent Management as a Business Strategy...........................................................................2
Differences Depending on Stated Talent Strategy.................................................................2
What Processes Are Part of a Talent Management System?..................................................3
Manager's Key Role in Talent Management..........................................................................4
Integrate Talent Management Fully into your Organization..................................................4
CORPORATE CULTURE......................................................................................................5
EMERGENCE AND CHARACTERISTICS........................................................................5
CULTURE IN SMALL BUSINESSES.................................................................................6
CONCLUSION.........................................................................................................................9
 INTRODUCTION

True talent management is about more than finding and keeping the right people. It’s also
about making smart decisions that benefit both the workforce and the organization. The goal
of talent management is to create a high-performance, sustainable organization that meets its
objectives and strategic and operational goals. You can utilize an intranet collaboration
tool to create culture and channel talent.

Google has a culture, Facebook has a culture, and Zappos has a culture! How do we know
about these cultures if we have never worked there? Simple, by the stories we have read and
heard about these workplaces. Culture is the environment for people at work. It is how things
get done or don’t get done in an organization. Culture manifests every day in every
transaction that happens in our workplaces. Although organizational culture has always had
an impact on performance, its intelligent management from a business intranet has never
been more critical. Since 2013, organizational culture has emerged as the distinguishing asset
for every organization.

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 TALENT MANAGEMENT
What Is Talent Management?

Talent management is just another one of those pesky Human Resources terms, right?
Wrong. Talent management is an organization's commitment to recruit, hire, retain, and
develop the most talented and superior employees available in the job market.

So, talent management is a useful term when it describes an organization's commitment to

hire, manage, develop, and retain talented employees. It comprises all of the work processes
and systems that are related to retaining and developing a superior workforce.

Talent Management as a Business Strategy

Talent management is a business strategy that organizations hope will enable them to retain
their topmost talented and skilled employees. Just like employee involvement or employee
recognition, it is the stated business strategy that will ensure the attraction of top talent in
competition with other employers.

When you tell a prospective employee that you are dedicated to a talent management strategy
that will ensure that he or she will have the opportunity to develop professionally, you attract
the best talent. This is because studies show consistently that the opportunity to continue to
grow and develop their professional and personal skills is a major motivator for why
employees take and stay at a job.

Differences Depending on Stated Talent Strategy

What appears to differentiate talent management focused practitioners and organizations from
organizations that use terminologies such as human capital management or performance
management is their focus on the manager's role, as opposed to reliance on Human
Resources, for the life cycle of an employee within an organization.

Practitioners of the other two employee development and retention strategies would argue
that, for example, performance management has the same set of best practices. It is just called
by a different name.

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Talent management does give managers a significant role and responsibility in the
recruitment process and in the ongoing development of and retention of superior employees.
In some organizations, only top potential employees are included in the talent management
system. In other companies, every employee is included in the process.

In some companies, the talent management system is accessible via computer programs; in
others, informal communication among managers and HR staff is the approach used. 

What Processes Are Part of a Talent Management System?

You can include the following systems when you approach talent management as your
overall business strategy to recruit and retain talented employees.

 Recruitment planning meeting
 Job description development
 Job post writing and recruiting location placement for the posting
 Application materials review
 Phone or online screening interview
 In-house interviews that can involve multiple meetings with many of your current
employees
 Credential review and background checking
 Making the job offer to the selected person
 Agreeing on the amount of the offer
 Employee starting day and onboarding process
 New employee welcome information and introductions
 On-the-job training
 Goal setting and feedback
 Coaching and relationship building by the manager
 Formal feedback systems such as performance management or an appraisal process
 Ongoing employee development
 Career planning and pathing
 Promotions, lateral moves, transfers
 Employment termination by choice of the employee or cause by the employer

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Manager's Key Role in Talent Management

As stated, the majority of these work systems are squarely in the hands of the employee's
manager. HR can provide support, training, and backup, but the day-to-day interactions that
ensure the new employee's success comes from the manager. Developing and coaching the
employee comes from his or her active, daily interaction with the manager.

HR can take the lead in some of the activities you see on this list, especially in recruiting and
selecting new employees, and in the case of employment termination. HR is also deeply
involved in the performance management system, career planning, and so forth leading the
development of the systems.

But managers are the means to carry them out for the overall recognition of the employee's
work and ongoing retention of the employee. Take the responsibility seriously; it's that
important.

Integrate Talent Management Fully into your Organization

Talent management is a business strategy and you must fully integrate it within all of the
employee-related processes of the organization. Attracting and retaining talented employees
in a talent management system is the job of every member of the organization, but especially
managers who have reporting staff (talent).

An effective strategy also involves the sharing of information about talented employees and
their potential career paths across the organization. This enables various departments to
identify available talent when opportunities are made or arise.

An organization that does this kind of effective succession planning makes sure that the best
talent is trained and ready to assume the next position in their career path. Succession
planning benefits the employees and it benefits the organization. Managers across the
organization are in touch with the employees you are grooming for their next big role.

In larger organizations, talent management requires Human Resources Information Systems

(HRIS) that track the career paths of employees and manage available opportunities for
talented employees.

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 CORPORATE CULTURE

Corporate culture refers to the shared values, attitudes, standards, and beliefs that characterize
members of an organization and define its nature. Corporate culture is rooted in an
organization's goals, strategies, structure, and approaches to labour, customers, investors, and
the greater community. As such, it is an essential component in any business's ultimate
success or failure. Closely related concepts, discussed elsewhere in this volume, are corporate
ethics (which formally state the company's values) and corporate image (which is the public
perception of the corporate culture). The concept is somewhat complex, abstract, and difficult
to grasp. A good way to define it is by indirection. The Hagberg Consulting Group does just
that on its Web page on the subject. HCG suggests five questions that, if answered, get at the
essence:

 What 10 words would you use to describe your company?

 Around here what's really important?
 Around here who gets promoted?
 Around here what behaviours get rewarded?
 Around here who fits in and who doesn't?

As these questions suggest, every company has a culture—but not all cultures (or aspects of
them) help a company reach its goals. The questions also suggest that that companies may
have a "real culture," discernible by answering these questions, and another one which may
sound better but may not be the true one.

EMERGENCE AND CHARACTERISTICS

The concept of corporate culture emerged as a consciously cultivated reality in the 1960s
along-side related developments like the social responsibility movement—itself the
consequence of environmentalism, consumerism, and public hostility to multinationals.
Awareness of corporate culture was undoubtedly also a consequence of growth, not least
expansion overseas—where corporations found themselves competing in other national
cultures. The U.S. competition with Japan, with its unique corporate culture, was yet another
influence. So was the rise to prominence of management gurus the dean of whom was Peter
Drucker. As corporations became aware of themselves as actors on the social scene,

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corporate culture became yet another aspect of the business to watch and to evaluate—
alongside the "hard" measures of assets, revenues, profits, and shareholder return.

Corporate culture by definition affects a firm's operations. It is also, by definition, something

that flows from management downward and outward. In many corporations, the "culture"
was set very early on by the charismatic activity and leadership of a founder. But as major
tendencies become deeply institutionalized, corporate culture also becomes an institutional
habit that newcomers acquire. In actual practice "reinventing" the corporation from the top
down, therefore, is difficult to achieve, takes time, and happens only under strong leadership.

Observers and analysts of the phenomenon tend to subdivide culture into its various
expressions related either to major constituencies (employees and workers, customers,
vendors, government, the community) or to methods or styles of operation (cautious,
conservative, risk-taking, aggressive, innovative). A corporate culture may also, by
overstepping certain bounds, become suicidal—as the case of Enron Corporation, the energy
trader, illustrates. In the Enron culture an aggressive, creative, high-risk style led to fraud and
ultimate collapse. Analysis is helpful in understanding how a corporate culture expresses
itself in specific areas. However, the concept is social and culture, as the phrase itself implies.
It does not lend itself to reorganization by a rearrangement of standard building blocks.

CULTURE IN SMALL BUSINESSES

Culture can be a particularly important consideration for small businesses. A healthy

company culture may increase employees' commitment and productivity, while an unhealthy
culture may inhibit a company's growth or even contribute to business failure. Many
entrepreneurs, when they first start a new business, quite naturally tend to take on a great deal
of responsibility themselves. As the company grows and adds employees, however, the
authoritarian management style that the business owner used successfully in a very small
company can become detrimental. Instead of attempting to retain control over all aspects of
the business, the small business owner should, as consultant Morty Lefcoe told Nation's
Business, strive to "get everybody else in the organization to do your job, while you create an
environment so that they can do it."

In a healthy culture, employees view themselves as part of a team and gain satisfaction from
helping the overall company succeed. When employees sense that they are contributing to a

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successful group effort, their level of commitment and productivity, and thus the quality of
the company's products or services, are likely to improve. In contrast, employees in an
unhealthy culture tend to view themselves as individuals, distinct from the company, and
focus upon their own needs. They only perform the most basic requirements of their jobs, and
their main—and perhaps only—motivation is their paycheck.

Since every company is different, there are many ways to develop a culture that works.
Following are several main principles that small business owners should consider in order to
create a healthy corporate culture:

Prevailing corporate culture begins at the top. Entrepreneurs need to explain and share their
vision of the company's future with their workers. "Let your vision for the company become
their vision for the company," stated John O'Malley in his article "How to Create a Winning
Corporate Culture." He goes on to say that "a company without a vision is reactive in nature,
and its management is seldom confident addressing competitive threats and stepping into the
future." In addition, small business owners should be aware that their own behavior and
attitudes set the standard for the entire workforce. Small business owners who set poor
examples in areas such as lifestyle, dedication to quality, business or personal ethics, and
dealings with others (customers, vendors, and employees) will almost certainly find their
companies defined by such characteristics.

Treat all employees equally. Entrepreneurs should treat all employees equally. This does not
mean that business owners cannot bestow extra rewards on workers who excel, but it does
mean that interactions with all employees should be based on a foundation of respect for
them. One particular pitfall in this area for many small business owners is nepotism. Many
small businesses are family-owned and operated. But bloodlines should be irrelevant in daily
operations. "Successful '¦ businesses constantly place 'you are no different' expectations on
family members they employ," noted O'Malley. "Doing otherwise quickly undermines
employee’s' morale. Showing favouritism in the workplace is like swimming with sharks—
you are destined to get bitten."

Hiring decisions should reflect desired corporate culture. The wise small business owner will
hire workers who will treat clients and fellow employees well and dedicate themselves to
mastering the tasks for which they are responsible. After all, "good attitude" is an essential
component of any healthy corporate culture. But entrepreneurs and their managers also need

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to make sure that hiring decisions are not based upon ethnic, racial, or gender issues. Besides,
businesses typically benefit from having a diverse workforce rather than one that is overly
homogeneous.

Two-way communication is essential. Small business owners who discuss problems

realistically with their workforce and enlist employees' help in solving them will likely be
rewarded with a healthy internal environment. This can be an important asset, for once a
participatory and engaging culture has been established, it can help propel a small business
ahead of its competition.

On the other hand, problems with the corporate culture can play a major role in small
business failures. When employees only perform the tasks necessary to their own jobs, rather
than putting out extra effort on behalf of the overall business, productivity declines and
growth comes to a halt. Unfortunately, many entrepreneurs tend to ignore the developing
cultures within their businesses until it is too late to make needed changes.

In an article for Entrepreneur, Robert McGarvey outlined some warning signs of trouble with
the company culture, including: increased turnover; difficulty in hiring talented people;
employees arriving at work and leaving for home right on time; low attendance at company
events; a lack of honest communication and understanding of the company mission; an "us-
versus-them" mentality between employees and management; and declining quality and
customer satisfaction. A small business exhibiting one or more of these warning signs should
consider whether the problems stem from the company culture. If so, the small business
owner should take steps to improve the culture, including reaffirming the company's mission
and goals and establishing a more open relationship with employees.

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 CONCLUSION

In the last decade or so organization’s culture has shifted from hierarchy command and
control structures to that of co-creation. The three key trends that define the work today are:

  Frequent change.
 More independent work.
 An increase in knowledge work.
As per a CEB research and study” Employees today have more ambiguous objectives and are
working with larger groups of stakeholders, making both flexibility and the ability to
collaborate ‘must-have’ competencies for companies seeking higher levels of performance,”
said Conrad Schmidt, global research officer, CEB. “Important business decisions are also
being made lower in the organization, putting an even higher premium on good judgment.
Building the next generation of high-performers will require organizations to cultivate these
skills within their employee base and to be keenly aware of the dramatic shifts occurring in
today’s work environment.”

Another CEB study reported the growing impact of collaboration on employee

productivity. “People know that work is becoming more collaborative, but the surprise is that
50% of successful performance now depends on this — where ten years ago 80% of the
outcome of any task would have been down to the individual. It is the magnitude of the shift
that we didn’t expect.”