Dr. Ajay Kr. Singh
Associate Professor & Coordinator –MHROD Program
Faculty of Commerce & Business
Delhi School of Economics
University of Delhi
Ms. Sonia Sabharwal
Dept. of Commerce
(University of Delhi)
presentation in the technical session
“Talent Management in the Globalised Scenario”
63rd All India Commerce Conference
The Indian Commerce Association
Goa University, Goa
Oct. 1-3, 2010
Talent Quotient Model for Effective Talent Management: An Empirical Study Dr. Ajay Kr. Singh & Ms. Sonia Sabharwal
In business, due to the current emphasis on intangible assets such as brand names, innovation, creativity, and entrepreneurship, greater than in the past, the arenas of today cater to companies that can harvest the potential of their key resources. In fact research suggests that not even the vision and strategy of a company are as important as the people that eventually will drive the company into the future. Regardless of the perspective taken, the fundamental question of what is and what is not considered to be talent needs to be addressed. Talent management requires HR professionals to understand how they define talent, who they regard as ‘the talented’. Based on a sample study of 70 respondents from the public and private service sector employees using factor analysis, seven important factors were found which constitute talent. It was also found after applying non-parametric Mann Whitney test that there is no significant difference between the opinion of public and private sector respondents. A model has been developed based on the primary data collected through structured questionnaire (the reliability of which was tested by using Cronbach alpha coefficient) followed by data analysis and findings of the study. The Talent Quotient model shows the constituents of talent in the form of a diagram and equation which can be used to manage the talent in an effective manner.
Key words: Talent, Talent Variables, Talent Quotient, Talent Quotient Model, Effective Talent Management
Organizations have long known that they must have the best talent in order to succeed in the hypercompetitive and increasingly complex global economy. Now, however, along with the understanding of the need to hire, develop, and retain talented people, there also is awareness that Organizations must approach talent as a critical resource that must be managed in order to achieve the best possible results.
In other words, organizations no longer can afford to assume that they always will have the talent they need to execute business strategy. Instead it’s necessary that they be proactive and addresses the reality that few, if any, organizations today have an adequate supply of talent. The question arises whether it’s at the top of the organization, in the mid-level leadership ranks, or at the frontline. Talent has become a resource that must be managed because it is an increasingly scarce resource.
The idea of managing talent is not new. But in the past, in the 1960s and 1970s, it was viewed as a peripheral responsibility best relegated to the personnel department. Now, it is an organizational function which permeates the entire organization, and hence taken up far more seriously.
The important dimensions which constitute the concept of talent management are attraction, retention, motivation and engagement, development, and succession planning. But they are bundled together to produce a more coherent whole that can be a vehicle for the development and implementation of coordinated and mutually supporting activities that help the...