Post by Madhurima Acharya

madhurima said...
Towers Perrin is a global professional services firm that helps organizations around the world optimizes performance through effective people, risk and financial management.

The firm provides innovative solutions to client issues in the areas of human resource strategy, design and management; actuarial and management consulting to the financial services industry; and reinsurance intermediary services.

The firm has served large organizations in both the private and public sectors for over 70 years. Our clients include three-quarters of the world’s 500 largest companies and three-quarters of the Fortune 1000 U.S. companies.

Starting from business plan to the performance, the Towers Perrin Total Rewards Effectiveness Blueprint talks about attracting and retaining talent on a broader organizational level. One read through the pictorial representation would make you feel that this is mostly same in one and all companies.

So, From Understanding to Action Plans: what do multinationals do differently? That would, and will be, a debatable topic.

Some points I could lay my hands on are :

Organise HR to support§ an integrated approach to Talent Management: dedicated TM function or senior professional within corporate HR, ensuring process visibility and status in the organisation

Establish Leadership Competencies and a clear definition of§ talent to build common language and a favourable environment for talent development

Core Talent Management requirements lived in the same way by§ all operating units in multinationals (timeline, process, tools).

Talent§ Management Councils (cross functional, cross regional) owned by senior line management supported by HR to share talent information in an integrated way.

Utilising Technology as a Talent Management Integrator (to combine and§ record consistently performance management and potential evaluation, succession planning and reward) Measure Talent Management Effectiveness (scorecards,§ employee surveys, metrics)

The IT industry being people-oriented, what differentiates the best from the rest is the “quality of human capital” in every organization. While there is plenty of talent available, the difficulty comes in finding the talent with the “best fit” to the organization. Potential employees would like to associate themselves with companies which have a “brand” of success, leadership, people development initiatives and also instill a deep sense of pride and commitment.

With increasing global competition and a more mature work environment, Indian IT companies have also started looking at this facet of branding.

This branding, called Employer branding is all about the company’s value in the market, a timeless process that, in today’s scenario has gained even more significance. It is essentially a combination of the reputation of the organization, the career offer and the corporate culture existing in the company.
August 9, 2008 8:58 PM