MU0017 – TALENT MANAGEMENT AND EMPLOYEERETENTION

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	Master of Business Administration- MBA
SEMESTER	4
SUBJECT CODE & NAME	MU0017 – TALENT MANAGEMENT AND EMPLOYEERETENTION
BK ID	B1869
Credit & Marks	4 CREDIT, 60 MARKS

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question.1. Explain the key elements of Talent Management System.

Answer:A talent management system (TMS) is an integrated software suite that addresses the “four pillars” of talent management: recruitment; performance management; learning and development; and compensation management.

Whereas traditional HRMS and enterprise resource planning (ERP) systems focus primarily on transaction processing and the administration of basic human resources processes such as personnel administration, payroll, time management, etc., talent management systems focus on providing strategic assistance to organizations in the

Question.2. Define Talent Management. Discuss the Talent management Approaches.

Answer:In order to get a sense of where the practice of talent management is headed, it may be helpful to explore briefly where it has come from. The notion of talent management as defined above is associated with the rise of large corporations in the 1950s. The firms that dominated the early days of industrial production had no talent management issues. The owners were the managers, but there was often little to manage, as much of the work, from sales and distribution to actual pro- duction tasks, was outsourced. That

Question.3. What is retention? Explain why retention is important. List the keys to strongretention.

Answer:Retaining a positive and motivated staff is vital to an organization's success. High employee turnover increases expenses and also has a negative effect on company morale. Implementing an employee retention program is an effective way of making sure key workers remain employed while maintaining job performance and productivity.

Manage Employee Turnover: Employers implement retention strategies to manage employee turnover and attract quality employees into the

Question.4. Explain the key Compensation principles. What do you mean by Total rewards?Describe the elements of Total rewards

Answer:The WorldatWork Total Rewards Model demonstrates the dynamic relationship between employers and employees. Originally introduced in 2000, it has evolved to depict the strategic elements of the employer-employee exchange as well as to reflect how external influences and an increasingly global business environment affect attraction, motivation, retention and engagement.

What Is Total Rewards?

Question.5. Explain the organizational issues pertaining to Talent Management.

Answer:It's important to Identify and manage the new issues in talent management in an increasingly globalized business environment. Effective talent management is the single most important factor that affects the survival and success of today’s business organization in the global economy.

Current Challenges in Talent Management: Talent management is both an art and a science that must be used effectively by an organization to

Question.6. Write short notes on:

a)Workforce Analysis

Answer:Workforce Analysis provides information regarding the current workforce across mission critical occupations, including demographic and background characteristics of the current workforce, retirement eligibility, turnover, and various workforce management issues (i.e., recruitment and retention). This information is valuable

b)Talent Review

Answer:The talent review process is centeredaround one or more talent review meetings intended to evaluate organizational trends, assess strengths, and address areas of risk for an entire organization. The people invited to participate in the meeting, who are generally managers within the organization that is being reviewed, can

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Send your semester & Specialization name to our mail id :

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