Preview

Novartis Hr Management System

Better Essays
Open Document
Open Document
1705 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Novartis Hr Management System
Novartis International AG-- a Swiss multinational pharmaceutical company based in Basel, Switzerland, was created in 1996 through the merger of Ciba-Geigy and Sandoz, two companies with a rich and diverse corporate history. In 2010, it ranked No.2 in sales (46.806 billion US$) among the world-wide industry. (Wiki, Novartis) With mission to discover, develop and market innovative products, provide a shareholder return that reflects outstanding performance and adequately reward people who invest ideas and work in the company (The Novartis Mission), Novartis under the direction of its CEO Daniel Vasella, M.D., built its own highly efficient global talent management system to facilitate reaching its goals.

1. The GTM system at Novartis Companies all around the world are facing the challenge of managing talent pipeline. (Günter K. Stahl, 2012) The GTM system at Novartis is built based on three central tasks and responsibilities for the company and every manager: talent identification, the use of systematic talent development, and strong pay for performance principle. (Jordan Siegel, 2008) For “talent identification”, Novartis prefers development talent for leadership positions from within and insists moving individuals to their desired positions before they were solicited from the outside; for “systematic talent development”, CEO Vasella implemented a far-reaching and globally standardized incentive system with two branches: one is for rating performance system and another is for assessing human potential. For “pay-for-performance”, Novartis adopted a compensation system paying mix with market-level base pay and large proportion of incentive pay which is highly associated with their performance. Over the years, the company had instilled a culture in which employees had no sense of entitlement, and were motivated to work hard for large gains in compensation contingent on high performance, aligning with company’s talent management strategy. (Jordan Siegel, 2008)



References: 1. Wiki, Novartis: http://en.wikipedia.org/wiki/Novartis 2. The Novartis Mission: http://www.novartis.com/about-novartis/our-mission/index.shtml 3. Günter K. Stahl, 2012: Günter K. Stahl, Ingmar Björkman, Elaine Farndale, Shad S. Morris, Jaap Paauwe, Philip Stiles, Jonathan Trevor and Patrick Wright (2012). Six Principles of Effective Global Talent Management. MITSloan Management Review, VOL. 53, NO.2. 4. Jordan Siegel, 2008: Global Talent Management at Novartis. Harvard Business School Publishing. 5. Schuler, Jackson and Tarique, 2010: Randall S. Schuler, Susan E. Jackson and Ibraiz Tarique (2010). Global Talent Management Initiatives for Global Talent Challenges. 11th International Human Resource Management Conference, Aston University, Birmingham, England, June 9-12, 2010. 6. Susan E Jackson, 2012: Susan E Jackson, Randall S Schuler, Steve Werner (2012). Managing Human Resources 11th edition 7. Novartis.com: http://www.novartis.com/careers/compensation-benefits/index.shtml 8. Millar, 2006: Roderick Millar (2006). A Conversation with Lucy Hughes, Novartis- -Employee Engagement. IEDP.

You May Also Find These Documents Helpful

  • Best Essays

    Business Environment of Asda

    • 2959 Words
    • 12 Pages

    Farndale, E.,Scullion, H.& Sparrow, P.R. ( 2010) The Role of the Corporate HR functions in Global Talent Management. Journal of word Business. 45 (2): 161-168. Journal of World Business Paper.…

    • 2959 Words
    • 12 Pages
    Best Essays
  • Powerful Essays

    Robert L. Mathis, John H. Jackson. (2011). Human Resource Management (13th ed.). Mason, OH: Cengage.…

    • 2866 Words
    • 12 Pages
    Powerful Essays
  • Powerful Essays

    I had the pleasure last week of moderating a panel of senior talent development officers representing three very different industries and diverse geographies: Deb Wheelock of Mercer (a high-end professional services firm, recruiting highly educated knowledge workers), Pamela Stroko of The Gap (a retailer faced with the classic industry challenges of creating a differentiating employee proposition and enhancing retention of its large workforce), and Sujaya Banerjee of the Essar Group (a diversified India-based enterprise participating in a variety of industrial sectors, including steel, energy, and communications).…

    • 936 Words
    • 4 Pages
    Powerful Essays
  • Best Essays

    5. A broad set of experiences and assignments is the best classroom; yet, a balanced approach is necessary for development.…

    • 1493 Words
    • 6 Pages
    Best Essays
  • Powerful Essays

    Assignment 2

    • 1952 Words
    • 8 Pages

    Carter, M. G. (2005). Best Practices in Talent Management. In M. Effron, Avon Products, Inc (p. 16). San Francisco.…

    • 1952 Words
    • 8 Pages
    Powerful Essays
  • Better Essays

    Job Analysis HRM530

    • 895 Words
    • 3 Pages

    Stewart, G. L., & Brown, K. G. (2012). Human resource management (2nd ed.). Danvers, MA: John Wiley & Sons, Inc.…

    • 895 Words
    • 3 Pages
    Better Essays
  • Better Essays

    In order to overcome issues such as hiring manager conflicts, compensation issues, job incentives and employee retention. Managers and leaders have to think global today; they have to understand different cultural backgrounds. This is a fantastic opportunity for Human Resources. The global HR policies drive processes in different countries, but the processes produce comparable results (Rosenfeld, 2008).…

    • 1113 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    Stiles , P., Trevor, J., Paauwe, J., Farndale, E., Wright, P., Morris, S., . . . Bjorkman, I. (2006). Best practice and Key Themes in Global Human Resource Management: Project Report. Cambridge: SANYO.…

    • 4500 Words
    • 18 Pages
    Powerful Essays
  • Best Essays

    5eeg Summative Assessment

    • 4237 Words
    • 17 Pages

    Frank, F.D., Finnegan, R.P. and Taylor, C.R. (2004) ‘The race for talent: retaining and engaging workers in the 21st century’, Human Resource Planning, Vol 27, No 3, pp. 12-25.…

    • 4237 Words
    • 17 Pages
    Best Essays
  • Powerful Essays

    Monday, R.W., Noe, R.M. & Premeaux, S.R. (2002) Human Resource Management, Eighth Edition. N.Y: Prentice Hall.…

    • 1889 Words
    • 8 Pages
    Powerful Essays
  • Best Essays

    A key objective of the UK government's energy policy is to reduce rapidly and radically the country's dependence on fossil fuels and particularly on energy supplies provided from overseas. An ambitious target has been set for the development of renewable sources of energy, the current target being that a third of the total demand for electricity in England and Wales should be met from renewable sources by 2020.…

    • 2039 Words
    • 9 Pages
    Best Essays
  • Satisfactory Essays

    Global Expansion

    • 563 Words
    • 3 Pages

    Lockwood, N. (2011). Talent Management: driver for organizational success. Retrieved June 4th 2011 from, www.findarticles.com…

    • 563 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    In order for organizations to meet the growing demands of business sustainability and maintain a competitive advantage over the competition, businesses are encouraged to take a hard look at their talent pool (Urlaub, 2011). This process aims to retain employees and foster their continuing development of skills and competencies to achieve the organization’s immediate performance goals and long-term strategic objectives. This often requires managers to incorporate a wide variety of perspectives in their talent appraisals. The ability for an organization to identify, select, develop, and retain highly valued skill sets can set a company apart. Talent Management Strategy is defined as an organizations commitment to recruit, retain, and develop the most talented and superior employees available in the job market through goal-setting, performance management, assessment, compensation management, learning, career planning and succession planning processes. This paper will discuss a few topics surrounding sustainable talent management which will include; determining which performance management process can be used to measure employee talent, analyze key concepts related to the talent review process, develop appropriate talent management objectives to measure functional expertise, asses key elements of global talent management as they apply to my organization, and recommend a process that optimizes a sustainable talent management process.…

    • 1387 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The research is based on pr-existed data from a larger case study of nine organizations that represent a variety of sectors adopting talent management in the United Kingdom. Data was mainly collected from transcribed interviews with talents from different…

    • 1144 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Hello Motto

    • 1075 Words
    • 5 Pages

    With the rapid globalization of markets, as evidenced in part by the ascendance of emerging economies, sustainable growth is increasingly dependent on a company’s ability to secure and foster talented human resources with the ability to thrive on a global stage. Recognizing that its efforts to offer innovative products, services and content that enhance consumers’ lives depend on its ability to attract and retain talented employees, Sony ac tively pursues diversit y in recruitment and has created a global framework that enables talented employees to bring their capabilities into full play.…

    • 1075 Words
    • 5 Pages
    Good Essays