Indore Management Journal
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Indore Management Journal Volume 12 Issue 1 January-June 2020 Indore Management Journal The Indore Management Journal (IMJ) is a biannual journal published by the Indian Institute of Management Indore, with an objective to provide a diverse perspective on management functionalities to its readers as well as a medium to share experiences, knowledge and practices with the wider community. IMJ publishes empirical and theoretical investigations that enhance the understanding of various phenomena related to Business and Management. The journal is structured to include one general and one special issue every year. We welcome proposals for special issues of IMJ from potential guest editors. Please share your suggestions with us. Editorial Team Editorial Advisory Board Pawan Budhwar, Aston Business School, UK Ramesh Rao, Oklahoma State University, USA Rajagopal, EGADE Business School, Mexico Vikas Kumar, University of Sydney Business School, Australia Atreyi Kankanhalli, National University of Singapore, Singapore Rupa Chanda, Indian Institute of Management Bangalore, India Tathagata Bandyopadhyay, Indian Institute of Management Ahmedabad, India Editor Srinath Jagannathan Associate Editors Gaurav Singh Chauhan Joysankar Bhattacharya Prashant Salwan Rajhans Mishra Saripalli Bhavani Shankar Shweta Kushal Sujay K. Mukhoti Editorial Staff Abhishek Koshti © 2015, Indian Institute of Management Indore All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in anyform or by any means, electronic, mechanical or photocopying or otherwise, without prior permission in writingfrom llM Indore. The editor, editorial team and the printer do not hold any responsibility for the views expressed in the Indore Management journal or for any error or omission arising from it. CONTENTS Articles 01. Human Resource Customisation and Talent Management: An Empirical Study Based on Organizational Commitment, Job Satisfaction and Intention to Quit of Employees Working in Public and Private Sector Organisations Santhosh VA and Alex Koshy 22. Capabilities of Decision Making: Among Women in the Working Poor Population Sohini Basu 35. Relevance of Government Audit: Evidence from Tripura Rajat Deb, Rescue Debbarma and Kiran Sankar Chakraborty 56. Making of a Politician Brand in India: A Curious Case of Sardar Vallabhbhai Patel and BJP Kalim Khan and Tapish Panwar 76. Honda Activa– The Revival of Scooters in India Anuj Verma and Meenakshi Verma 86. Retail Store Image and Consumer Behavior Linkages -A review-based discussion framework Meenu Mathur and Sanjeevni Gangwani 103. Impact on Increasing Retail Credit On Consumption Expenditure in India (With Special reference to Household Consumption Expenditure) Vidya Telang, Shailendra Gangrade, Shail Shri Sharma and Satnam Ubeja Human Resource Customisation and Talent Management: An Empirical Study Based On Organizational Commitment, Job Satisfaction and Intention to Quit of Employees Working In Public and Private Sector Organisations Santhosh VA1* and Alex Koshy2 1Professor & Associate Dean (Operations), TKM Institute of Management, Kollam, Kerala, India 2Assistant Professor, TKM Institute of Management, Kollam, Kerala, India Abstract Talent Management is the most challenging task for organisations, as they require talented workforce to compete and sustain in the current globalized environment. Management strategies at different levels have been developed by corporate houses with an intention to recruit, train and retain their talented employees. Utilizing the full potential of talents available is also a major task for human resource departments. One such strategy adopted by the management is the customisation of services. It is a process of providing tailor made work experiences to the employees taking into consideration their skills, competencies and specific requirements. Only few literatures are available to associate the relationship between these two broad concepts. A concrete study signifying the impact of HR customisation on talent management is the need of the hour. This empirical study tries to explore the extent to which organisations customize their HR services and its relationship with the variants of talent management that includes organizational commitment, job satisfaction and intention to quit. The study, descriptive in nature, follows simple random sampling method covering 400 employees from 30 organisations (both private and public sector). The study, in general, reveals a moderate negative relationship between HR customisation (IV) and talent management (DV). The influence of type of organisations on the IV-DV relationship is worth noting where the talents in private sector demands more customisation when compared to their counter parts working in public sector. The study also infers a minimal partial influence of age, experience and perception towards the relationship between IV and DV, with an exemption to age in public sector organisations. Key Words: Human Resource Customisation, Talent Management, Organizational Commitment, Job Satisfaction, Intention to Quit, Public and Private Sector Organisations 1. Introduction human resource management, human capital management Employee's vis-à-vis human resources are the key for every and talent management. Organization's transition from a organisation in achieving success. In today's competitive traditional industrial phase to the technologically world, management of human resources becomes very advanced, change sensitive knowledge phase, has made dynamic and challenging. The importance of human different changes in the approach of human resource resource management is within the belief that only people, management. Organisations, in the current globalized among other resources, have the capacity to generate value environment, find difficult to sustain and compete without (Bratton & Gold, 2009). The success of human resource well trained, motivated and talented employees. According department is in generating value ahead of its competitors, to Jack Welch, former GE's chairman, the only way to get utilizing the human assets. Human Resource Management more productivity is by getting people involved and excited (HRM) has seen various transitions from its initial concept about their jobs (Stewart, 1991). When an organization of industrial welfare to the recently evolved strategic hires an employee with diversified skills and competencies, *Corresponding Author IMJ 01 Santhosh VA and Alex Koshy Volume 12 Issue 1 January-June 2020 there must also be a mechanism to manage them. Talent talent. Even though there exists different definitions for management thus becomes the most challenging function talents, Buckingham & Clifton refer it as a 'natural of a Human Resource Department. In order to utilize the recurring pattern of thought, feeling or behavior that can full potential of talented people, appropriate management be productively applied' (Buckingham & Clifton, 2001). strategies also have to be generated. It is said that, 'having The Chartered Institute of Personal Development defines talented individuals on the payroll is one thing, leveraging talent as 'those individuals with high potential who are of their capabilities to secure competitive advantage is particular value to an organization' (CIPD, 2006) another' (Lawler, 2009). One significant aspect of talent Different scholastic studies have been conducted relating management is that the talented employees demand value talent's to different business prospects. A major study propositions that are difficult to generalize. As they are conducted endorsed the relationship between people with specialized knowledge, their need will be employability and organizational success, where unique and to a certain extent novel. To satisfy these employability is taken on a broader perspective of talent diversified requirements, organisations have recently (Nilsson & Ellstrom, 2011). T he sur vey of adopted the strategy of customizing the services provided. PricewaterhouseCoopers (PwC) indicating the concern of Carefully designed packages for each employee or group CEO's of talent shortage affecting organizational growth of employees would ensure their economic, social and (PricewaterhouseCoopers, 2011) is another indicator of behavioral requirements. Appropriate design of different impending role of talents in a firm's functioning. The schemes and their fair administration impose various survey also emphasize on the cost incurred due to low challenges for the human resource (HR) professionals productivity, and employee retention associated with talent during the process of HR customisation. Employee's turnover. Studies indicate that the availability of talents in perception regarding customisation of their services in lieu organisations have come down drastically resulting in of different equity principles adds oil to the fire making the increased competition between firms for talents (Canon & process more complicated. Here comes the importance of McGee, 2011). Ultimately, competitive advantage that is a study to understand the extent of customisation offered crucial for an organization's success is the result of better by different organisations to their talented workforce and performance from an employee who is selected, placed and its impact on talent management. trained carefully, considering the strategic objectives of an 2. Literature Review organization (Tarique & Schuler, 2010). The importance of management of talents comes at this 2.1 Talent Management juncture, which