Talent Management Strategies and Practices
Added on 2020-05-16
23 Pages4865 Words34 Views
|
|
|
Running head: HUMAN RESOURCE MANAGEMENTHuman Resource ManagementName of the Student Name of the University Author Note
1HUMAN RESOURCE MANAGEMENTTable of Content1.0 Introduction................................................................................................................................21.2 Scope of the Study.................................................................................................................31.3 Aims and Objectives..............................................................................................................41.4 Justifying stated aims and objectives.....................................................................................42.0 Literature Review......................................................................................................................5Literature-........................................................................................................................................52.1 Defining and explaining talent management:........................................................................52.2 Key drivers of talent management:........................................................................................62.4 Effective Talent Management processes...............................................................................73.0 Research Design......................................................................................................................113.1 Research philosophy:...........................................................................................................123.2 Data Collection Method.......................................................................................................123.3 Sampling strategy:...............................................................................................................133.4 Limitation:...........................................................................................................................143.5 Ethical Issues.......................................................................................................................144.0 Research Plan...........................................................................................................................154.1 Organization of the study.....................................................................................................154.2 Project Plan( Grantt Chart)......................................................................................................15References and Bibliography.........................................................................................................17
2HUMAN RESOURCE MANAGEMENT
3HUMAN RESOURCE MANAGEMENTTopic- Developing an Effective Talent Management System for Managers at Bank of theBahamas1.0 IntroductionThe purpose of the report is to develop an effective talent management system formanagers at the Bank of Bahamas as a lever for enhanced organizational performance,competitive advantage and sustainable growth. Bank of Bahamas is aware of the fact that theyneed to acquire the best talent to gain success and sustain in a “hyper-competitive” andgrowingly complex global economy. Besides understanding the necessities of hiring, developingas well as retaining skilled workforce, the firms know that they should manage talent as a criticalresource to gain the best outcome. According to Stahl et al., (2012) some firms in today’senvironment have a stable supply of talent to a lower level of organizational hierarchy but thegap existing on the top of the firm, particularly, at the managerial level. Al Ariss, Cascio andPaauwe (2014) also mentioned that talent is increasingly becoming deficient so it needs to bemanaged to the fullest effect. It is worth mentioning when introducing talent management here that during theeconomic fall, marketers or the banking industry could observe a short ceasefire in the war fortalent. However, the industry is experiencing new challenges such as lack of regional talents thatare certainly creating additional pressure for organizations. The forces include the questions like whether the leaders or managers are capable of doing morewith less. There needs to be a clear strategic focus on keeping those managers or leaders andenhancing their successors. The importance of conducting a research on this context lies on thefact that whether the leaders today are able to leverage their existing talents. Oladapo (2014)
4HUMAN RESOURCE MANAGEMENTmentioned that few organizations have been observed to be cutting off the workforce but thefirms need to be cautious about the layoff, as going too deep in terms of workforce lay off causeresource crisis. Talent is scarce and if the economy bounces back, firms again observeoperational challenge caused by deficiency of workforce. Keeping in view the increasing importance of talent management, this proposed researchsets out to develop an effective talent management Bank of Bahamas. A talent managementsystem is required in Bank of the Bahamas because the firm is currently facing some significantperformance issues and the source of the issues is improper or absence of talent management.Thereby, by gaining an insight about the potential issues related to talent management faced byorganizations in the banking industry, a suitable talent management system will be developed inthe proposed research. So therefore, the purpose of the research is to identify the potentialissues in managing key talents involving managers, executives, line managers, senior managersand middle managers and develop an effective talent management system for Bank of theBahamas. 1.2 Scope of the Study There are hardly a number of studies conducted on talent management and till nowwhatever periodic scholars have performed, are the survey to identify the perception ofemployers regarding talent management. As the need of talent management is crucial almost inall organizations, only a few scholars outside the corporate management have attempted toresearch talent management system. However, the global banking industry is yet to pay attentionto talent management. Here, unlike the previous papers, the proposed piece of research is anempirical study focusing on the issues in managing key talents caused by ineffective managerial
5HUMAN RESOURCE MANAGEMENTpractices. The study particularly focuses on talent management, key dimensions of talentmanagement, drivers of talent management and best practices of talent management. 1.3 Aim and Objectives The aim of the research is to develop an effective talent management system formanagers at Bank of Bahamas geared towards enhanced organizational performance andsustainable business growth. The study would reveal the desired impact of talent managementon organization and help to understand how Bank of the Bahamas resolves the issue of talentscarcity through the proposed talent management program. The following are the key objectivesof achieving of the stated aim. 1.To identify relevant theories, concepts and models that will inform the primaryresearch 2.To identify significant challenges faced by the organizations in managing talents 3.To investigate the drivers of talent management at managerial level within the Bankof the Bahamas 4.To identify the perceptions and opinions of key stakeholders regarding theeffectiveness as to how the Bank of the Bahamas could implement and sustain aneffective TM system for managers1.4 Justifying stated aim and objectives The aims and objectives stated above are appropriate and relevant to the context ofproposed research, as Bank of the Bahamas faces the issue of retaining the key talents and poororganizational performance. Thus, the aim of identifying the existing issues in managing talent isnoteworthy because without learning the existing concepts, theories and models talent
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents