Talent Management

Meaning of talent management:

Every person has particular talents and qualifications. Within the Talent Management module, these specific abilities are systematized and made usable for the operative process. Every remote agent can be organized into specific skill groups. These pool every individual profile which corresponds to very specific performance requirements. The distinguishing characteristic is that this organization isn’t performed in a static manner; rather, it is performed dynamically, in real-time. As such, Talent Management always puts into action just the profile which best matches a certain task.

MOTIVATION OF TALENT IN EUROPE:

Motivation is the force that initiates, guides and maintains goal-oriented behaviours. It is what causes us to take action, whether to grab a snack to reduce hunger or enrol in college to earn a degree. The forces that lie beneath motivation can be biological, social, emotional or cognitive in nature.

Researchers have developed a number of different theories to explain motivation. Each individual theory tends to be rather limited in scope. However, by looking at the key ideas behind each theory, you can gain a better understanding of motivation as a whole.

Talent support as a major topic of Hungary’s EU presidency

1. Justification

Novel concept of talent support: According to Renzulli, the famous American psychologist, talent is the interaction of intellectual ability (intelligence), high level of creativity (originality) and high level of task commitment (diligence, persistence). Optimal talent support looks like a pyramid, where exceptionally gifted young people receive possibilities, while at lower layers of the pyramid upward transitions are heavily promoted. This novel concept of talent support extends the earlier “talent-base” of the earlier top 1% ‘geniuses’, and includes at least one third of the total population greatly improving the chances of gifted, but underprivileged young people. The novel concept perceives everyone as potentially gifted, completely disqualifies the stigma of ‘untalented’ as scientifically improvable, and instead of rigid elitism greatly improves social mobility.

EU justification

Talent has become a key factor in determining the competitiveness of a country. Developing a culture to promote and foster talents helps people to find the right career, achieve success in it, stimulates and spreads innovation and creativity, economic growth, leads to higher competitiveness, reduces inequality of opportunities, increases social mobility, helps to overcome the problems of underprivileged and increases social cohesion as well.

Promotion of talent support as a major topic in the EU is justified by the achievements of the European Year of Creativity and Innovation 2009. Furthermore, talent support is also listed among the general strategic objectives of the EU Group Presidency 2010-2011 as a goal to increase competitiveness. Talent support is also in direct connection with the „European Year of Volunteering 2011” (2010/37/EC Council decision). Besides school activities talent support is often carried out by NGO-s using volunteer work.

Hungarian priority

Talent support has long traditions in Hungary, which have created a large number of successful programmes run by schools, state/local governments, churches and NGO-s. Hungarian priority of talent support is exemplified by the 20-year long National Talent Support Program me adopted by the Hungarian Parliament in 2008, which secures a continuous and long-term support of talents establishing policy guidelines and a National Talent Fund providing approximately 5 million EUR/year monetary support. All these activities were promoted and are backed by the Hungarian National Talent Support Council, which is an umbrella organization of currently 28 NGO-s established in 2006. The Council is the organizer of a 3 million EUR talent support project (called Hungarian Genius Project) aiming to make a nationwide talent support network funded by the EU Structural and Social Funds). This project also involves a 10 million EUR grant-scheme to support local activities between 2009 and 2011. Between 2008 and 2010 more than 250 Talent Points have been established in Hungary. Talent Points help young people (their teachers, parents, friends, etc.), who want to learn and develop their talents. Talent Points are forming a nationwide network helping each other.

NEED FOR MOTIVATION DUE TO THE NON-USAGE OF WOMEN’s TALENTS IN INDIA:

Although India boasts internationally recognized female leaders in the political and social spheres, its business organizations remain largely male bastions. Women are still struggling to break through the glass ceilings that keep them out of the boardroom and currently hold less than 3 percent of managerial positions in India.

According to the results of a recent study conducted by Prime Database, 6,560 individuals occupy a total of 11,391 directorship positions in 1,069 listed companies in India. Only 311 of these individuals are women.

Gender representation at the top of U.S. companies, by contrast, is far more equitable. Nearly 42% of management positions are occupied by women. Furthermore, 88 percent of Standard & Poor's 500 companies have at least one female board member, while 49 per cent have two or more women directors. The US led the way with the highest percentage of female employees (52%), while India had the lowest (23%).

Meanwhile, the UK government called for the talent and skills of women to be "properly represented".

Globally, the outlook is less rosy, with women accounting for only 10 percent of senior managers in Fortune 500 companies. Within this group, less than four percent hold top executive positions such as CEO, President, Executive Vice-President and COO.

In India, however, the picture is even bleaker. In 2006, women accounted for just over 3% of all executive positions filled by Egon Zehnder in India, versus 17% globally. On a brighter note, this figure nevertheless marks significant progress compared to previous years, but still leaves a lot of room for improvement.

Traditional stereotypes and undue emphasis on marital status are partly to blame for the under-representation of women at a senior level, as well as the fact that women are seldom groomed for leadership roles in family-run businesses. So how can Indian companies get more women into top positions?

Traditional divides

The services sector employs the greatest percentage of women, and within this sector Financial Services and Insurance (60%), Professional Services (56%) and the Media and Entertainment Industry (42%) employ the greatest proportion of women.

Somewhat unsurprisingly, sectors more traditionally viewed as "male" employed the lowest percentage of women - automotive (18%), mining (18%) and agriculture (21%).