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Report on Importance of Talent Management Plan

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Added on  2020-04-29

Report on Importance of Talent Management Plan

   Added on 2020-04-29

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Running head: CONTEMPORARY MANAGEMENTContemporary ManagementName of the Student:Name of the University:Author note:
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1CONTEMPORARY MANAGEMENTTable of ContentsIntroduction................................................................................................................................2Discussion..................................................................................................................................2Conclusion..................................................................................................................................6References..................................................................................................................................8
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2CONTEMPORARY MANAGEMENTIntroductionHuman resource managers and executives of a company have always focused on thebasic need of talent management plan for the organization. Talent management plan includeshiring, retaining or acquiring talented employees. In order to reach the optimum level ofsuccess, organizational leaders need high performing and engaging employees. It is importantto align the talent management program with the strategies of a company, its leadershipcriteria and functional areas (Subsorn and Limwiriyakul 2012).The report throws light on the importance of talent management plan to cultivate forthe continuing growth of a well known company HSBC Australia. The company has beenworried about the impact of the changes the modern business world has brought.The report consists of a talent management plan for the company to tackle the issuesand challenges for the next ten years. The best talent managing plan is related to the strategicplan of any company and the overall needs of a business. DiscussionGoal alignment can be considered as a powerful tool of management, which not justonly clarifies the job roles of individual workers, but also discusses the ongoing values of theemployees in the organization. HSBC Australia is a well known bank that offers a vast rangeof banking services and products to the commercial, retail, institutional and corporate sectors(Farndale et al. 2014). It provides its customers with a huge range of financial services,including commercial and retail banking. Recently, the company has been facing some issuesand challenges, due to the changing modern business world. The key factors can be theknowledge economy, globalization, structural employment and skill gaps, workplace
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