DHRM403 TALENT MANAGEMENT AND EMPLOYEE RETENTION FEB MARCH 2025

Description

SESSION	JAN – FEB 2025
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DHRM403 TALENT MANAGEMENT AND EMPLOYEE RETENTION

 

 

 

Assignment Set – 1

 

 

Q1. Explain the need for talent management in any organisation.         

Ans 1.

Need for Talent Management in Any Organisation

Talent Management

Talent management refers to the strategic process of attracting, developing, retaining, and utilizing individuals who can significantly contribute to an organization’s performance. It plays a critical role in ensuring that the right people are in the right roles, at the right time, and equipped with the right skills to meet business objectives.

Aligning Talent with Business Strategy

One of the major reasons talent management is essential is its ability to align human resources

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Q2. Describe the components of adaptive talent strategy.           

Ans 2.

Components of Adaptive Talent Strategy

Adaptive Talent Strategy

An adaptive talent strategy refers to a flexible and responsive approach to managing talent in alignment with evolving business needs, market changes, and workforce expectations. In today’s dynamic environment, organizations must shift from rigid traditional HR practices to agile talent strategies that anticipate and address future challenges effectively.

Workforce Planning and Forecasting

The foundation of an adaptive talent strategy lies in strategic workforce planning. This involves

 

 

Q3. Discuss the objectives of talent planning.                               

Ans 3.

Objectives of Talent Planning

Talent Planning

Talent planning is a strategic process that focuses on aligning the organization’s future talent needs with its business goals. It includes forecasting workforce requirements, identifying gaps in talent, and developing strategies to attract, develop, and retain employees. Talent planning ensures that an organization is well-prepared to meet both short-term and long-term human capital needs.

Ensuring Right Talent at the Right Time

One of the primary objectives of talent planning is to ensure that the organization has the right

 

 

Assignment Set – 2

 

 

Q4. Briefly explain the role of feedback in the performance appraisal feedback system.

Ans 4.

Role of Feedback in the Performance Appraisal Feedback System

Feedback in Appraisals

Feedback is a vital element of the performance appraisal process. It serves as a communication mechanism that informs employees about their performance, highlights strengths, points out areas of improvement, and guides future behavior. In a well-designed performance management system, feedback is not just a formality but a powerful tool for employee development and organizational success.

Enabling Performance Improvement

The primary role of feedback is to provide employees with actionable insights that help them

 

 

 

Q5. Explain the term retention. Discuss its importance.  

Ans 5.

Understanding the Term Retention

Retention refers to the ability of an organization to retain its employees over time, particularly high-performing and skilled individuals. It is the process of ensuring that employees remain committed to the organization and do not leave voluntarily. Retention is closely linked with job satisfaction, employee engagement, organizational culture, career growth opportunities, and effective leadership. It is not just about keeping people in the company but about keeping the right people through meaningful employment experiences.

Retention strategies are designed to minimize voluntary turnover and promote a stable and

 

 

 

Q6. Discuss the challenges in talent management.

Ans 6.

Challenges in Talent Management

Dynamic Business Environment

One of the major challenges in talent management is keeping up with the rapidly changing business landscape. As industries evolve due to technological advancements, market trends, and globalization, organizations must constantly update their talent strategies. The skills required today may not be relevant tomorrow, making it difficult to hire and retain future-ready talent.

Attracting the Right Talent

In a competitive job market, attracting skilled and culturally aligned candidates has become