Effective Talent Management Strategies for Barclays
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This research project focuses on identifying the talent management strategies used by Barclays, a multinational bank. It explores the significance of these strategies in improving employee performance and examines the challenges faced by Barclays in managing talent at the workplace.
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Research Project Effective talent management strategies for successful organisations i.e.Barclays
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INTRODUCTION Talent management introduces the full scope of the human resource process that includes different activities such as attraction, onboard, development, motivation, and retention of high-performing employees. It is important for each and every organisation to use effective strategies for talent management (Anton Shufutinsky and Ryan Cox, 2019). There are some essential strategies of talent management i.e. understand the power of job description, providence of continued training and development opportunities, assess candidate cultural fit etc. These are main and effective strategies that would be beneficial for multinational organisations in successfully managing talent within a workplace. For this research project, Barclays is a chosen British multinational universal bank that was founded in 1690 by different key people i.e. Nigel Higgins and Jes Staley. Barclays is headquartered in London, England, UK and specialises in producing different products i.e. retail Banking, commercial Banking etc. (Bray Jr, 2019). Main purpose of this report is to identify the main talent management strategies used by Barclays as a multinational bank through primary and secondary research. TASK 1 P1 Research proposal is an initial part of the research project that includes information about the research aim, objectives, questions and rationale for the section of the project. All these information are explained as under: Research aim: Main aim of this research project is “To identify the strategies used by multinational organizations for managing talent at workplace”. A study on Barclays in London, UnitedKingdom Research questions What are the talent management strategies using by Barclays? What is the significance of talent management strategies in improvement of employee’s performance at workplace? What are the major challenges that would be face by Barclays while managing talent at workplace? Research objectives To identify talent management strategies using by Barclays. To explore the significance of talent management strategies for improving employee’s performance at workplace of Barclays. To examine challenges facing by Barclays while managing talent at workplace. Rationale of the research Main rationale of choosing this research project or title is to recognise the talent management strategies and their significance for multinational organisations. Current research or title is highly significant for various stakeholders, including researcher, organisation and students.For students this research helps them by increasing theirknowledgeregardingtalentmanagementstrategies(Crawshaw,BudhwarandDavis,2020).For
organisations, this research facilitates them by improving their understanding about the benefits of talent management in business growth and success. For researchers, this research facilitates them by increasing their different types of research skills, which are data collection, presentation, time management etc. Thus, present study or title is extremely important in all ways. Literature review What are the talent management strategies using by Barclays? According to theElzen (2019), talent management is the exercise about retention of employees for longer period of time. This is not limited up to that extent only but also focuses over development of skills and knowledge. In actual, talent management has wide scope and has contribution in development of an overall organisation. This help in team building and creating positive working environment that directly improves the productivity of an organisation. The strategies which are using by Barclays for management of talent within an organisation includes; Talent management:This is the strategy about the development of skills and knowledge. As per the opinion ofFurusawa and Brewster (2019), this is applying by Barclays on quarterly basis where they provide training on the basis of their weaknesses through usage of tailored based programmes. This has effective role in creation of positive attitude among all employees that organisation is considering their needs and working in the direction of developing their personality. Rewards:This is the scheme of rewarding to employees on the basis of their performance. This is using by Barclays to motivate employees and improving their performance. This includes providence of monetary and non-monetary benefits as per employees working abilities and nature. What isthe significanceof talentmanagementstrategiesin improvementof employee’sperformanceat workplace? According to theGalunic (2020), The talent management strategies which are using by Barclays in very common nature at workplace includes training and development and reward. Significance of both is defined below in the direction of improving employee’s performance; Training and development:This has major concern about the creating sense of responsibility and loyalty amongemployeestowardsorganisationalfunctioningandapproaches.Developmentofpersonalityhelp employees to satisfying about personality growth and on other hand help an organisation to improve overall growth. Advance nature of skills help in gaining targets in least possible time and also eliminates the chance of errors. Rewards:This motivates the employees to perform good for earning extra monetary amount within an organisation (Garcia-Arroyo and Osca, 2019). Here, good performance also benefits the employee in form of professional growth through promotion at higher responsibilities. What are the major challenges that would be face by Barclays while managing talent at workplace? According to theGarg and et. al., (2021), there are many challenges that will be faced by Barclays while managing talent at an organisation in future time. All these are defined below;
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Employee resistance:Talent can be managed only through the adaption of changes according to the current trends and needs. In this situation, employees always resist because they became familiar with old approaches. So, stimulating their behaviour and retaining after providence of training would be a challenging task for the management of an organisation. Office politics:Exercise related to talent management increases the instances related to office politics. This is so because everyone wants growth and attaining higher responsibilities (George, Li and Hou, 2020). So, in end will resultant into the negative working environment that hampers current level performance of all employees. P2 Research philosophy It is one of the methods of research methodology to conduct research in an effective manner. It is generally divided into two types commonly known as positivism philosophy and interpretivism philosophy. As per the requirement of present project researcher has selected positivism philosophy because it evaluates in gathered information in the numerical or quantitative way (Haque, Fernando and Caputi, 2019).It also does not take maximum time period and evaluate without much cost. Interpretivism is not selected because it focuses on information that is present in qualitative way. Research approach Research approach is defined as procedure of evaluating data by using various research approaches. It is generally classified into two significant kinds that are inductive and deductive research approach. Deductive approach is selected by project manager because it helps in achieving the aim that is evaluating the concept of e- commercealongwithevaluatingtheimpactofdevelopmentof e-commercestrategiesoverperformance management of an organisation in the retail industry of United Kingdom because it focuses on measurement of quantitative data. It is very useful approach for measuring data that is available in numerical style as this type of data is more reliable and accurate. Inductive approach is not selected because it is concerned about qualitative information (Hee and Shanmugam, 2019). Research strategy Research strategy is generally known as another significant part of research methodology as it assists in collecting information with the use of approaches that are effective in nature of research strategies. It is being divided into different parts that are commonly called grounded theory, experimental research, literature review, survey, action research etc. The above mentioned approaches are very great for collecting information but by looking at the present project researcher has decided to go with survey (Helens-Hart and Engstrom, 2020). Survey is the method that is great to collect numerical information from different sources and the sources are generally first hand or raw. Another main purpose of selecting survey is it does not increase cost of research and give a lot of information in a limited period of time. Research choice
Research choice is an important type of research methodology because it facilitates in gathering information by two methods that are called by qualitative and quantitative method. With the motive of achieving objectives of present project researcher has chosen quantitative research choice because it assists investigator in collecting information available in the format of numbers (Kargas and Tsokos, 2020). Quantitative research choice has selected questionnaire as instrument because it concentrates on collection of numerical data only. Qualitative research choice is not selected as it is concerned about subjective information that focuses on providing new theory related to the topic of study. Time horizon It is one of the essential parts of research methodology as it assists in attaining every task and activity of the project in a very limited period of time. Time horizon is classified into two significant sections that are cross- sectional and longitudinal. They both have great skills to help researcher in completing project but investigator has selected cross-sectional time horizon as it focuses on completing every task and activity in a very short time duration and based on actual circumstances or situations. Longitudinal is not selected for the current study as it takes more time duration in comparison to cross-sectional (Krishna, Rao and Datta, 2019). Data collection It is the method of collecting primary and secondary data. Researcher has selected primary as well as secondary data collection method because these both are necessary for taking out needed information. Primary research is selected as it facilitates in collection of first hand data with the help of questionnaire, interview etc. In the present project questionnaire is selected because it provides outcome in less period of time. The secondary data collection is selected to take out existing information for addressing gaps and for the sources selected is articles, publications, business sites, books etc. Sampling Sampling is referred to the procedure of selecting samples out of the given large population. It is commonly divided into probability and non-probability sampling. As per the requirement of present project investigator has selectedprobabilitysampling because it facilitatesin selectinglarge number of respondentsto takeout information. Non-probability sampling is not selected as it does not allow selecting large number of participants and it also selects samples on the basis of particular criteria. 15 managers are selected to gather their opinions and views with the assistance of instrument calledquestionnaire. TASK 2 P3 It is important for researchers to conduct both primary and secondary research because it helps them in getting first hand and in-depth information about the topic. There are different sources or methods that help researchers in conducting primary and secondary research systematically. These are explained as below:
Cost:This is an important factor or source because without this, it is not possible for researchers to successfully complete both primary and secondary research.In order to complete both types of research, there is a requirement of around £150.34 (Madan and Madan, 2019). There are different activities for this researcher that require an accurate amount of capital i.e. traveling cost, stationery cost, internet cost etc. Access: This is significant for researchers to have access for collecting primary and secondary data. For primary data, there is a requirement of getting access from Barclays to collect data from their employees.For secondary research, there is a need for having access to open company websites and any other sources i.e. books, journals etc. Ethical issues:There are various ethical issues that are faced by researchers by conducting primary and secondary research. For primary research, ethical issues are informed consent, respect for confidentiality, respect for privacy and beneficence-do not harm. For secondary research, there are also main ethical issues i.e. data should be de-identified before release to the investigator, consent of study subjects can be reasonably presumed etc. These are main ethical issues but to overcome all these, there is a requirement of using principles of research ethics that avoid using deceptive practices, obtain informed consent, provide right to withdraw etc. P4 Research analytical tool is a type of technique that helps in finding and evaluating of gathered information effectively. In accordance to the current project, quantitative data has been gathered by researcher through questionnaire. Thus, for evaluating quantitative data, frequency distribution analysis is used by investigator. This is an effective analytical technique because it helps in findings and evaluation of quantitative data within less time and systematic manner. Q1 Do you know about the concept of talent management in the context of Barclays? Frequency a) Yes15 b) No0 Q2 What types of talent management strategies are used by Barclays?Frequency a) Assess candidate cultural fit5 b) Understand the power of job description5 c) Learn to become a coach5 Q3HowtalentmanagementhelpsBarclaysinimprovementofits organisational performance? Frequency a) Reduce turnover of employees6 b) Increase level of customer satisfaction4 c)Assist in accomplishment of competitive edge5 Q4Whatisthesignificanceoftalentmanagementstrategiesin improvement of employee’s performance at workplace? Frequency
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a) Attract new talent5 b) Improvement of employee engagement4 c) Building good team6 Q5 Does use of talent management strategies help Barclays in attraction and retention of highly performing employees at workplace? Frequency a) Yes13 b) No2 Q6 What types of talent management initiatives would be required to be taken by Barclays? Frequency a) Increasing remuneration and pay5 b) Temporary shifting of employees3 c)Development of e-learning programs7 Q7 What are the biggest challenges or issues that would be faced by Barclays while managing talent at the workplace? Frequency a) Higher turnover of employees7 b) lack or poor leadership4 c) Reduced business image and goodwill4 Q8 What are the essential ways that would be required for overcoming all challenges related to talent management? Frequency a) Providence of flexible work environment6 b) Development of effective leadership styles4 c)Maintaining a positive workplace5 Table1: Understanding about talent management in the context of Barclays Q1 Do you know about talent management in the context of Barclays?Frequency a) Yes15 b) No0
Interpretation: It is determined from the above graph that all the selected respondents having knowledge about talent management and they know this has been taken care in Barclays. No one was said they don’t know about the concept of talent management and its presence in Barclays. This clear the fact that talent management is important aspect for an organisation and everyone is aware of same. Table2: Talent management strategies are used by Barclays Q2 What types of talent management strategies are used by Barclays?Frequency a) Assess candidate cultural fit5 b) Understand the power of job description5 c) Learn to become a coach5 Interpretation: It has been assessed from the above presented graph that equal weightage is ascertained by all the three activities of talent management which are using at Barclays. This means all the three strategies i.e. Assess candidate cultural fit, Understand the power of job description and Learn to become a coach getting the
support of 5 respondents equally. This clears the fact that every talent management has equal nature of importance within an organisation because these will be applied after assessing the actual requirement of employees. Table3: Talent management helps Barclays in improvement of its organisational performance Q3HowtalentmanagementhelpsBarclaysinimprovementofits organisational performance? Frequency a) Reduce turnover of employees6 b) Increase level of customer satisfaction4 c)Assist in accomplishment of competitive edge5 Interpretation: It has been gathered from the above presented graph that there is huge importance of talent management exercise in development of organisational performance of Barclays. Out of total 15 respondents, 6 respondents are in favour of the benefit about reduction in the rate of employee turnover. 4 respondents having the opinion that it benefitted in form of improving customer satisfaction level. In last, 5 respondents having the opinion that benefit is ascertaining in form of gaining competitive edge in market. Table4: Significance of talent management strategies in improvement of employee’s performance at workplace Q4Whatisthesignificanceoftalentmanagementstrategiesin improvement of employee’s performance at workplace? Frequency a) Attract new talent5 b) Improvement of employee engagement4 c) Building good team6
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Interpretation: It has been assessed from the graph that there is huge importance of talent management strategies within an organisation that further leads in improvement of organisational performance. Out of all 15 respondents, 5 respondents having the opinion that talent management strategies help in attraction of new talent within an organisation. 4 respondents having the opinion that talent management strategies improve employee engagement. In last, 6 respondents having the opinion that talent management strategies help in building good teams within an organisation. Table5: Talent management strategies help Barclays in attraction and retention of highly performing employees Q5 Does use of talent management strategies help Barclays in attraction and retention of highly performing employees at workplace? Frequency a) Yes13 b) No2
Interpretation: It has been gathered from the above presented graph that there is huge contribution of talent management strategies in attraction and retention of talented employees at workplace. Out of the total 15 respondents, 13 having the opinion that there is huge contribution of talent management exercise in attraction and retention of high performing employees. While, 2 having an opinion that it does not help in attraction and retention of talented employees. Table6: Types of talent management initiatives Q6 What types of talent management initiatives would be required to be taken by Barclays? Frequency a) Increasing remuneration and pay5 b) Temporary shifting of employees3 c)Development of e-learning programs7 Interpretation: It has been ascertained from the above graph that out of all 15 respondents, 7 having the opinion that Barclays has to focus over implementing e-learning programmes. 5 respondents having the opinion that they have to focus over increasing remuneration and pay. In last, 3 respondents having the opinion that temporary shifting of employees will help an organisation towards effective talent management. So, it is clear from the overall discussion that e-learning programmes will be the best approach for Barclays to implement in future. Table7: Major challenges that would be faced by Barclays while managing talent at the workplace Q7 What are the major challenges that would be faced by Barclays while managing talent at the workplace? Frequency a) Increased employee turnover7 b) lack or poor leadership4 c) Reduced business image and goodwill4
Interpretation: It is assessed from the above graph that talent management is not easy exercise as it involves the occurrence of many challenges. Out of all 15 respondents, 7 having the opinion that exercise of talent management leads to increment of employee turnover rate as a challenge in front of an organisation. 4 having the opinion that managing talent is difficult due to the challenge of poor leadership. In last, 4 respondents having the opinion that managing talent leads to reduction of business image. Table8: Essential ways that would be required for overcoming all challenges related to talent management Q8 What are the essential ways that would be required for overcoming all challenges related to talent management? Frequency a) Providence of flexible work environment6 b) Development of effective leadership styles4 c)Maintaining a positive workplace5
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Interpretation: It has been determined from the above graph that it is necessary for an organisation to overcome the challenges related to the talent management because this help in getting effective results. Out of the all 15 respondents, 6 respondents having the opinion that the strategy which help in overcome the challenge of talent management about increased employee turnover is Providence of flexible work environment. 4 respondents having the opinion that challenge of poor leadership will be eliminated with the aid of implementing effective leadership styles. In last, the challenge related to reduced business image will be eliminated with the aid of maintaining positive workplace. TASK 3 P5 Talent management strategies using by Barclays As per the gathered information with the assistance of primary and secondary sources it has been analysed that talent management strategy is basically an exercise in the organization for retaining employees in the organizationforthelongerperiodoftime(ManaseandOmondi,2019).Inthesestrategiesemployees’ development is given attention so that they could become efficient and effective in achieving objectives of the company. Barclays focuses on providing training on the quarterly basis so that all the weak areas of employees could be improved for the development of employee and organization. Significance of talent management strategies in improvement of employee’s performance at workplace According to the gathered data by secondary and primary sources, talent management strategies used by Barclays have great importance in the workplace as well as in the mind of every employee. Employees are being training and development so that they could develop sense of responsibility towards their operation. It also assists in building loyalty among all the workers for the approaches used by organization to achieve objectives. These sessions of trainings make employees grow and develop their personality with the development of company. Employees are also given apt reward with the formation of such talent strategies (Nankervis and et. al., 2019). This ultimately increases level of motivation in employee to do their work with more dedication.
Major challenges that would be face by Barclays while managing talent at workplace There are many challenges that are faced by Barclays at the time of managing their talent because they are the people who also have needs and requirement according to the situation and they keep changing (Parekh, 2019). So, some of the challenges may include resistance of employees, politics in the working environment and many more. Employees always resist whenever anything new happens in the company as they become uncomfortable in the environment that changes continuously. Hence, at the end it results in employees leaving the company. TASK 4 P6 I am glad for receiving a chance to organise research over a broad topic i.e. “To identify the strategies used by multinational organizations for managing talent at workplace”: A study on Barclays in London, United Kingdom. For accomplishing this aim, I used different methodologies, which are quantitative research, deductive approach, positivism philosophy, questionnaire etc. All these methodologies helped in gathering of reliable and valid data that result in accomplishment of each objective within minimum time and successful manner. Questionnaire helped me in gathering primary and quantitative data that is effective for me in completing full research in given time and cost as well as effective manner. My experience behind conducting this research is good because through this, I enhanced my research skills i.e. presentation, time management and many others. Apart from this, I also faced some challenges in data collection such as out of data, lack of time, access issues and many others. All these are main challenges because these have a negative impact on my performance. Despite these, I developed a questionnaire that helped me by saving my time, cost and resources. P7 Alternative research methodologies are important for carrying out further studies in an effective manner. There are different types of alternative research methodologies that are effective for researchers in conducting further research. These are inductive approach, interpretivism philosophy, interview, qualitative research etc. These are main alternative methodologies that could be used by researchers if they get another chance (Saad and Sudin, 2020). There are various considerations of the research that will be beneficial for researchers in conducting further investigation i.e. impact of talent management on profitability of company, benefits of talent management in reduction of high employee turnover etc. For conducting further study on these topics, there will be recommendations for researchers to use qualitative methodology, interview etc. All these would facilitate them in successfully completing the full project within minimum time. CONCLUSION It has been concluded that use of talent management strategies helped companies in attainment of competitive edge within minimum time period. It has been concluded from the above research report that there is huge contribution of talent management strategies in success of an organisation. This is the reason that every organisation irrespective of their nature focusing over implementing talent management exercises. This not only
help to get success but aid in getting sustainability in market in terms of performance and fulfilment of consumer needs. There are various strategies which are using by different organisations according their need and nature of operations. Each and every strategy having their own contribution in the development of talent within an employee. Some of the strategieswhich are commonly use under global platformincludes trainingand development, reward, performance appraisal, e-learning programmes etc. These not only help in retaining employee but aid in development of their skills and knowledge. At the end, this has dual benefit where help in improving the employee engagement along with proactivity and profitability of an organisation. There are lots of benefits attached with strategies of talent management that can be ascertained by an organisation such as positive working culture, competitive edge, good working teams and higher productivity. RECOMMENDATIONS It has been recommended from the overall research that it is important for all the organisations irrespective of their size and nature of operations that implement talent management strategies. This is so because employees are the only asset that persist within an organisation help in ascertaining best results through optimum utilisation of resources. So, talent management help in improving their skills and retaining for longer period of time as a team. In respect of the talent management strategies, it is recommended to Barclays management that they have to focus over implementing current level practices such as e-learning programmes, increment as per the performance and responsibilities and rotation of work to improve engagement and skills. These three techniques will have their own level of contribution in improvement of the talent within an organisation. Also, will help in gaining all other associated benefits in least possible time.
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REFERENCES Books and Journals Anton Shufutinsky PhD, D. and Ryan Cox, M. B. A., 2019. Losing talent on day one: Onboarding millennial employees in health care organizations.Organization Development Journal.37(4). pp.33-51. Bray Jr, C. E., 2019.Doing It Right: Developing Procurement Talent for the 21st Century(Doctoral dissertation, Pepperdine University). Crawshaw, J., Budhwar, P. and Davis, A. eds., 2020.Human resource management: Strategic and international perspectives. Sage. Elzen, M. J. G., 2019.Match or Mismatch? An exploratory study into the match between talent practices- in-use by the Hospitality Industry and the expectations and characteristics of Generation Z(Master's thesis, University of Twente). Furusawa, M. and Brewster, C., 2019. The determinants of the boundary-spanning functions of Japanese self-initiated expatriates in Japanese subsidiaries in China: individual skills and human resource management.Journal of International Management.25(4). p.100674. Galunic, C., 2020. Developing Talent and Capabilities. InBackstage Leadership(pp. 187-232). Palgrave Macmillan, Cham. Garcia-Arroyo, J. and Osca, A., 2019. Big data contributions to human resource management: a systematic review.The International Journal of Human Resource Management, pp.1-26. Garg,S.andet.al.,2021.Areviewofmachinelearningapplicationsinhumanresource management.International Journal of Productivity and Performance Management. George,B.,Li,C.andHou,Y.,2020.Humanresourcemanagementstrategiesinthechinese Multinational corporations: Ideology, institutions, and culture.Ecoforum Journal.9(3). Haque,A.,Fernando,M.andCaputi,P.,2019.Perceivedhumanresourcemanagementand presenteeism.Asia-Pacific Journal of Business Administration. Hee, O.C. and Shanmugam, N., 2019. A Review of Human Resource Change Management Strategies in theDigitalEra.InternationalJournalofAcademicResearchinBusinessandSocial Sciences.9(3). Helens-Hart,R.andEngstrom,C.,2020.Empathyasanessentialskillfortalentdevelopment consultants.Journal of Workplace Learning. Kargas, A. and Tsokos, A., 2020. Employer branding implementation and human resource management in Greek telecommunication industry.Administrative Sciences.10(1). p.17. Krishna, S. M., Rao, C. H. G. and Datta, A., 2019. The Effectiveness of Human Resource Management Practices on Employee Retention–An Empirical Study of Commercial Bank of Ethiopia, Hawassa City.J. Mech. Contin. Math. Sci.14. pp.794-807. Madan, A. O. and Madan, S., 2019, April. Attracting millennial talent: a signal theory perspective. InEvidence-based hrm: A globalforumforempiricalscholarship. EmeraldPublishing Limited. Manase, G. W. and Omondi, M., 2019. Influence of Green Human Resources Management Practices on Greening TVET.Africa Journal of Technical and Vocational Education and Training.4(1). pp.33-43. Nankervis, A. and et. al., 2019.Human resource management. Cengage AU. Parekh, R., 2019. Human Resource Management Practices in Hospitals and Its Impact on Employee Satisfaction by considering Demographic factors in Surat City.International Journal.7(1). pp.8-12. Saad, Z. M. and Sudin, S., 2020. Justice in Compensation: How it affects Talent Retention in Malaysian Electric & Electronics Industry.Global Business & Management Research.12(4). Sánchez, M. A., 2020. University e-readiness for the digital transformation: the case of Universidad Nacional del Sur. Stander, F. W. and Van Zyl, L. E., 2019. The talent development centre as an integrated positive psychologicalleadershipdevelopmentandtalentanalyticsframework.InPositive
psychologicalinterventiondesignandprotocolsformulti-culturalcontexts(pp.33-56). Springer, Cham. Storey, J., Wright, P. M. and Ulrich, D., 2019.Strategic human resource management: A research overview. Routledge. Taylor, L. and Lebo, F., 2019.The talent revolution: Longevity and the future of work. University of Toronto Press. Väglund, N., 2020. Towards Understanding the Association between Digital Transformation and Talent Retention: A Managerial Perspective. Yabanci, O., 2019. From human resource management to intelligent human resource management: a conceptual perspective.Human-Intelligent Systems Integration,1(2), pp.101-109. Yu, L. and Chang, J., 2019. Construction of the Talent-Cultivation System for Business Administration Majors in the “Double First-Class” Background.
APPENDIX 1 Questionnaire Q1 Do you know about talent management in the context of Barclays? a) Yes b) No Q2 What types of talent management strategies are used by Barclays? a) Assess candidate cultural fit b) Understand the power of job description c) Learn to become a coach Q3 How talent management helps Barclays in improvement of its organisational performance? a) Reduce turnover of employees b) Increase level of customer satisfaction c)Assist in accomplishment of competitive edge Q4 What is the significance of talent management strategies in improvement of employee’s performance at workplace? a) Attract new talent b) Improvement of employee engagement c) Building good team Q5 Does use of talent management strategies help Barclays in attraction and retention of highly performing employees at workplace? a) Yes b) No Q6 What types of talent management initiatives would be required to be taken by Barclays? a) Increasing remuneration and pay b) Temporary shifting of employees c)Development of e-learning programs Q7 What are the major challenges that would be faced by Barclays while managing talent at the workplace? a) Increased employee turnover b) lack or poor leadership c) Reduced business image and goodwill Q8 What are the essential ways that would be required for overcoming all challenges related to talent management? a) Providence of flexible work environment b) Development of effective leadership styles
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APPENDIX 2 Research proposal and ethical form StudentNameStudent ID TutorDate Proposed title:Effective talent management strategies for successful organisations Section One: Title, objective, responsibilities Title or working title of research project (in the form of a question, objective or hypothesis) Research project objectives (e.g., what is the question you want to answer? What do you want to learn how to do? What do you want to find out?): Research aim: “To identify the strategies used by multinational organizations for managing talent at workplace”. A study on Barclays in London, United Kingdom Research questions: What are the talent management strategies using by Barclays? What is the significance of talent management strategies in improvement of employee’s performance at workplace? What are the major challenges that would be face by Barclays while managing talent at workplace? Research objectives: To identify talent management strategies using by Barclays. To explore the significance of talent management strategies for improving employee’s performance at workplace of Barclays. To examine challenges facing by Barclays while managing talent at workplace. Section Two: Reasons for choosing this research project Reasons for choosing the project (e.g., links to other subjects you are studying, personal interest, future plans, knowledge/skills you want to improve, why the topic is important): Main reason behind selection of current project or title is to identify the issues faced by successful organisation because of ineffective talent managementstrategies (Sánchez, 2020).This is a main reason of conducting current project on the title ofEffective talent management strategies for successful. Another reason regarding the chosen of this title is to improve my personal and professional growth. This research helps in improvement of my different types of research skills that time management, communication and many others. Therefore, my personal interest of conducting this project is to searching HR job in banking industry. Section Three: Literature sources searched Use of key literature sources to support your research question, objective or hypothesis: Literature review is the systematic and effective process of gathering secondary data from secondary sources that are articles, books, publication research etc. In this section of project, research questions will be used for achieving each objective in systematic manner. These are: What are the talent management strategies using by Barclays? According to theStander and Van Zyl (2019),talent management introduces to the full scope of human resource
process to onboard, attract, develop, motivate and retain talented and high-performing employees. Main aim of talent management is enhancing business performance via practices that make workers more productive.Barclays plc is a British multinational investment bank and financial service organisation, headquartered in London, England. As per the view presented by Ansari (2021), there are different number of talent management strategies such as understand the power of job description, assess candidate cultural fit, learn to become a coach etc. These are simple talent management strategies follow by all organisations. In case of Barclays, there are some talent management strategies such as recruitment, reward, training and development, provide continuous training and development opportunities and many others which continually used at workplace. The benefit of this arrived by an organisation in form of competitive edge in market but simultaneously facing the issues related to work completion of time due to lack of time. What is the significance of talent management strategies in improvement of employee’s performance at workplace? As per the opinionofStorey, Wright and Ulrich (2019),there are various significance of talent management strategies which are explained below: Attract new talent:By providing continuous training and development opportunities to employee’s, able to attract new talent at workplace. Effective providence of training and development is the role of Barclay’s human resource manager not only for improving knowledge of existing employees but simultaneously attraction of fresh talented candidates. The benefit of same will be ascertained in the form of good team development at workplace. Reward: This is an essential strategy for Barclays for the motivation of employees at workplace. Reward can be non- financial and financial. This is an effective talent management strategy used by Barclays for building good teams within an organization along with improving their engagement. Ultimately, this result in increment of sales and profitability of an organization. What are the major challenges that would be face by Barclays while managing talent at workplace? Accordingto theTaylor and Lebo (2019),there aresome challenges that would be face by banking sector while managing talent at workplace. These are explained as below: Increased employee turnover:This is one of the main challenge that would be face by HR of Barclays because they unable to focus over other determinants of work cycle. This happens because they feel demotivated due to non-failure of tasks important for performing regular or continuous job performance. Lack of leadership:This is another challenge that an organization face while managing talent at workplace. This is about ineffective amount of leadership to employees at different levels that diminished their ability to perform functions s per the mentioned standards. Ultimately, this reduces their confidence and impact the exercise of talent management at workplace. Section Four: Activities and timescales Activities to be carried out during the research project (e.g.,research,developmentandanalysisofideas, writing,datacollection,numericalanalysis,tutor meetings,productionoffinaloutcome,evaluation, writing the report): Project formulation and project planning Literature review Methodology Data collection and analysis Discussion of the results Reportwriting How long this will take: (See Gantt Chart below) This project will take around 24 weeks.
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Presentation of the project of the Broad of director Milestone one: Literature review Target date (set by tutor): 18-03-2021 Milestone two: Methodology Target date (set by tutor): 27-05-2021 Section Five: Research approach and methodologies What type of research approach and methodologies are you likely to use and why? What areas willllyour research cover? Research methodology is the process of gathering as well as evaluating data from specific research method. Main purpose of research methodology is to facilitate investigator by providing accurate information about the topic. There are various types of methodologies that are essential within a research project. These are: Research philosophy:There are two main types of research philosophies including interpretivisim and positivism. According to the current research project, positivism will be a chosen research philosophy (Väglund, 2020). Main aim regarding election of positivism philosophy is it helps in collection and evaluation of numerical data in less time duration. Interpretivisim is another philosophy that is not effective according to the research because it not facilitates in gathering and evaluating of quantitative information. Research approach: There are two effective approaches of data analysis that are inductive and deductive. In this research project, deductive approach will be a chosen approach because it facilitates in analyzing of numerical data about the talent management strategies used by successful organizations. Inductive approach is another approach that is not used within a project because it takes maximum time and not helps in evaluating of quantitative data. Research strategy: There are various number of research strategies which are case study, action research, experiments, survey and many others. These are significant but in accordance to the existing topic of talent management strategies, survey will be a selected strategy. This strategy of research is essential in gathering of fist hand and numerical data within minimum time period (Yabanci, 2019). Research choice: There are two significant choices of the research are known as quantitative and quantitative. In this study, quantitative is a chosen research strategy because it assists in collection of numerical data in minimum time. Qualitative is another choice that is not important within a research because it not support in getting of valid and reliable outcomes. Time horizon: Time is essential within a research project because it facilitate in completion of full project in allotted time. There are two main approaches of time horizon including cross-sectional and longitudinal. In this research project, cross- sectional approach is more valuable because it is based on actual situation and not require maximum time in research completion. Data collection: There are two important sources of data collection which are primary and secondary. Within s research project, both primary and secondary sources will be used because it facilitates in achievement of each objective of the project in successful manner. For collecting primary information about the talent management strategies, questionnaire is used by research. There are various number of secondary sources such as books, articles etc. are also used for literature review. Therefore, within a project, both primary and secondary sources are applied with purpose of attaining project aim. Sampling: This refers to the process of selecting sample from total population. There are two techniques of sample selection which are probability and non-probability (Yu and Chang, 2019). According to the current project, probability will be a chosen technique. Main purpose regarding the selection of probability sampling is it helps in recruitment of larger sample base within less time period.By using probability sampling 15 employees of Barclays, London, United Kingdom
are selected on random basis. Data analysis:This is the process of analyzing gathered information through research analytical technique that is frequency distribution analysis. According to the existing topic, quantitative data will be gathered from questionnaire and for analyzing this, frequency distribution is an effective technique (Hannaford, Cheng and Kunes-Connell, 2021). This is an effective technique because it will help investigator in evaluating of quantitative information within less time. In this technique, researcher will require in making of frequency table. This turn to impact in attainment of each objective in successful manner. Ethical Issues:There are lots of ethical issues that will be encountered in the performance of this research like selection of limited number of respondents to determine the results, chance of ascertaining biased information from respondents, inability to determine the actual and relevant information from the secondary resources, lack of time and cost due to existing nature of time and budget etc. So, all these are such ethical issues that might have impact over results of research but will definitely able to get the reliable information that suggest appropriate nature of solutions in respect ot the research topic. Comments and agreement from tutor Comments (optional) I confirm that the project is not work which has been or will be submitted for another qualification and is appropriate AgreedName:Date: Comments and agreement from project checker (if applicable) Comments (optional) I confirm that the project is not work which has been or will be submitted for another qualification and is appropriate AgreedName:Date:
Gantt Chart MilestoneProjective Activities W1W3W4W7W8W11W12W16W17W20W21W23W24 M1Project formulation and Project Planning M2Literature Review M3Methodology M4Data Collection and Analysis M5Discussion of theresults M6Report writing M7Presentation of the project to theBoard of Directors Achievement based on Gantt chart (To be completed by students) WeekActivities to achieve planned milestonesTutor’sfeedback and date W3ProblemformulationandProjectPlanning Research Problem and background to the problem Research Topic Research objectives W7Literature Review Key sources of information W11Methodology Choice of methodology Sampling Brief description of how data would be collected and analysed W16Data Collection and Data Analysis Data collection How it was collected Advantages and disadvantages of the technique Data Analysis Technique used to analyse the data
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Advantages and disadvantages of the technique Interpret the results W20Discussion of the results Whatdotheresultsmeanbasedontheliteraturereviewed? Recommendations to solve the research problem W23Report writing Appropriate structure W24Presentation of the project to the Board of Directors
Research Ethics Approval Form All students conducting research activity that involves human participants or the use of data collected form human participants are required to gain ethical approval before commencing their research. Please answer all relevant questions and note that your form may be returned if incomplete. For further support and guidance please see your respective Unit Tutor: Before completing this form, we advise that you discuss your proposed research fully with your unit tutor. Please complete this form in good time before your research project is due to commence. Section 1: Basic details: Project title:“To identify the strategies used by multinational organisation for managing talent at workplace”. A study on Barclays in London, United Kingdom Student name: Student ID number: Programme: College Name: Intended research start date: 18-03-2021 Intended research end date: 01-09-2021 Section 2 Project summary Please select all research methods that you plan to use as a part of your project: InterviewsYesNo QuestionnairesYesNo ObservationsYesNo Use of personal recordsYesNo Data AnalysisYesNo Action ResearchYesNo 1
Focus GroupsYesNo Others (Please specify) :Secondary research Section 3: Participants Please answer the following questions, giving full details where necessary. Will your research involve human participants? Yes Who are the participants? Tick all that apply: Ages 12-16:Young people aged: 17-18Adults: How will participants be recruited (identified an approached)? The participants of the current study will be recruited through simple random sampling under probability sampling. 30 employees of theBarclays in London, United Kingdom will be recruited for this project. Describe the processes you will use to inform participants about what you are doing: For informing information about the research aim and objectives, e-mail, oral and written presentation will be used as a process. How will you obtain consent from participants? Will this be written? How will it be made clear to participants that they may withdraw consent to participate at any time? In order to obtain consent from participants, all information about the topic will be provided to the research participants that is in written format. Studies involving questionnaires: will participants be given the option of omitting questions that do not wish to answer? YesNo 2
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If no, please explain why below and ensure that you cover any ethical issues arising from this Studies involving observation: Confirm whether participants will be asked for their informed consent to be observed. YesNo Will you debrief participants at the end of their participation (i.e give them a brief explanation of the study)? YesNo Will participants be given information about the findings of your study? (This could be a brief summary of your findings in general) YesNo Section 4: Data Storage and Security Confirm that all personal data will be stored and processed in compliance with the Data Protection Act (1998) YesNo Who will have access to the data and personal information? During the research: Researcher Where will the data be stored? In computer system Will mobile devices such as USB storage and laptops be used YesNo If Yes, please provide further detail 3
ls: After the research: Researcher Where will the data be stored? In computer system How long will the data and records be kept for and in what format? The data and records will be kept may be 6 months in computer system. Will data be kept for use by other researchers?YesNo Section 5 : Ethical Issues Are there any particular features of your proposed work, which may raise ethical concerns? If so, please outline how you will deal with these: It is important that you demonstrate your awareness of potential risks that may arise because of your research.Please consider/address all issues that may apply. Ethical concerns may include, but are not limited to the following: Informed consent. Potentially vulnerable participants. Sensitive topics Risk to participants and /or researchers Confidentiality/anonymity Disclosures/ limits to confidentiality Data storage and security, both during and after the research (including transfer, sharing, encryption, protection). Reporting Dissemination and use of your findings. Section 6: Declaration 4
I have read, understood and will abide by the institution’s Research and Ethics Policy: Yes No I have discussed the ethical issues relating to my research with my Unit Tutor: Yes No I confirm that to the best of my knowledge: The above information is correct, and this is a full description of the ethical issues that may arise in the course of my research Name:Date: Please submit your completed form to your supervisor and also attach to the Research Proposal when submitting to Turnitin. 5