HUMAN RESOURCE MANAGEMENT

TALENT MANAGEMENT IN GODREJ

ABSTRACT

Talent management is an organization's ability to recruit, retain, and produce the most
talented employees available in the job market. Talent consistently uncovers benefits in these
critical economic areas: revenue, customer satisfaction, quality, productivity, cost, cycle time,
and market capitalization. Having good talent management is when one has good skills,
knowledge, cognitive abilities, and the potential to do well. Talent management is also an
important and necessary skill for people in the workforce to acquire. Finding good and
talented people is not a hard thing to do, but making sure that they want to stay working for
the same business is the challenge. If someone has so much talent and they are good at what
they do, businesses will want them to stay and work there forever.

MEANING

Talent management is the science of using strategic human resource planning to

improve business value and to make it possible for companies and organizations to reach
their goals. Everything done to recruit, retain, develop, reward and make people perform
forms a part of talent management as well as strategic workforce planning. A talent-
management strategy should link to business strategy to function more appropriately. Talent
management refers to the anticipation of required human capital for an organization and the
planning to meet those needs.

Talent management systems are generally considered to be comprised of four modules:

recruitment, performance management, corporate learning and compensation management.

SIGNIFICANCE

The most important functions of Talent Management are as follows −

 Establishing a high-performance workforce.

 Attracting individuals with high potential and retaining them through proper training
and refreshment.

 Increasing the productivity of the organization.

 Proper time management, as untrained and unskilled workforce lead to wastage of

time and commitment of errors, which is not cost-effective.

 Retain talented and high-performing employees.

  Ensuring growth and innovation in the organization.

 Developing skills and competencies in employees.

A requisite pool of qualified and talented employees can simplify the process of achieving
the organizational goal and help focus on issues that really matters in the interest of the
organization. Therefore, the overall purpose of talent management is to maintain a skilled
and efficient workforce for the organization.

WHY IS IT NEEDED FOR AN ENTERPRISE?

Talent management is not just a simple human resource key term one will come across. It is
also committed to hire, manage, develop, and retain the most talented and excellent
employees in the industry. In fact, talent management plays an important role in the business
strategy since it manages one of the important assets of the company—its people.

That is why companies should make the effort to effectively manage the employees to help
them develop their skills and capabilities in order to retain them.

For Godrej, the most important consideration while hiring is a cultural fit. Our earlier campus
recruitment process provided limited opportunity to evaluate potential team members. Given
the rush of the hiring process, it was not possible to judge aspects like initiative, creativity
and problem solving skills of the applicants. Initiating new recruits is always important. Since
they did not have a robust recruitment pipeline of management trainees who had interned
with them, the onboarding process was tedious and took very long.

It became evident that if they didn’t increase their intake through our campus recruitment
programs and didn’t convert summer interns into full time hires, they would have to depend a
lot more on lateral hires, a proposition that was both expensive and not feasible in the long
run. This lead the organization to implement talent management programme which helped
them to gather the best suitable and talented people without having to rush through the
recruitment process. Organization LOUD became their alternative to hiring through a
standard summer process.

HOW IS IT IMPLEMENTED?

A talent management system is suggested to be used in business strategy and implemented in

daily processes throughout the company as a whole. The business strategy must include
responsibilities for line managers to develop the skills of their immediate subordinates. The
talent management strategy may be supported by technology such as HRIS (HR Information
Systems) or HRMS (HR Management Systems).

Some of the eminent practices that Godrej follows are mentioned below.

LOUD programme: It is a unique campus engagement program targeted at the students

from leading business school. Live Out Ur Dream (LOUD) program gives an opportunity to
the students to realize their personal dreams which would have been inside them and did not
get an chance to materialize due to some constraints. This program is run during the summer
internship period of the business schools where the students who win will get a sponsorship
of Rs. 1.5 lack to turn their dreams into reality through continuous mentorship support from
senior executives of Godrej followed by pre-placement offer. This program aims to find the
hidden leadership qualities among the potential students.

100 leaders programme: In this innovative initiative, top 100 employees are identified
across the organisation having the leadership potential in them. These employees are
differentiated, trained and their careers are tracked for their grooming in the leadership roles
in future.

Careers 2.0: This is a unique opportunity for women who are willing to come back to restart
their corporate life after a break for whatever reasons may it be. This program gives potential
women a second career having a minimum of two years of experience in any function of
management. They are assigned for live business projects across functions and sectors
initially from 3 to 6 months. It can be a part time or even full time. During this project period,
guide or the co-owner will support the project trainee as well as the trainee will be under the
mentorship of a senior leader.

Bedhadak Bolo: This practice encourages the employee to speak up and express their views
and opinion frankly and fearlessly without any hesitation. This practice has enabled many
employees to come forward and bring changes which lead to meaningful innovations in
product, services and processes making the company shine. When any employee raises its
voice for a betterment of the organizational policies and processes, other employee also feel
encouraged and come out with relevant innovative solutions. This creates a culture of
openness and transparency.
Agile working Culture: Godrej offers flexible options to work from home with part time
working opportunities too. In fact the Godrej is one the exceptional Indian company having a
policy of paternity leave of up to 2 weeks. All area sales managers will be entitled for 5 days
working for two weeks in a month.

Godrej Fellows Program: Under this HR practice, 12 to 15 people, under 30 years of age is
being handpicked by Godrej who possess exceptional innovative proposals that will help the
company to progress. The organisation would provide learning opportunity, financial
resources and mentorship under senior leaders who can bring positive change to the
company.

OUTCOMES

Godrej consumer products ltd has been voted as the one the best places to work according to
‘Aon Hewitt Best Employers 2015’ survey, right after the organization has mastered them in
talent management.

Godrej has developed a TA strategy which weaves campus recruitment and innovation just
perfectly. However, the company had first identify what they needed and then developed a
concept which is completely innovative in the space of recruitment re-eingineering.

Godrej's LOUD has become a key recruitment channel for the company. Today. LOUD
accounts for almost 50% of Gurukul, Godrej's internship program. This year, Godrej received
over 2,300 applications, a 500% increase from 2012. While last year, they received over 500
applications as part of the wild card process, the number rose to 950 in 2015. The last four
years have been a testimony of the growing popularity of LOUD. It has generated a lot of
buzz in the media circles.

CONCLUSION

Talent Management has become one of the most important strategy in corporate HR
and training today. Organizations know that they must have the best talent in order to succeed
in the hypercompetitive and increasingly complex global economy. They must manage talent
as a critical resource to achieve the best possible results in the long run.