Talent Management in Lloyds Banking Group

TALENT MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Part 1: Talent Management Strategy...........................................................................................3
Part 2: Impact of Regularity Factors............................................................................................5
Part 3: Environmental Factors.....................................................................................................7
Part 4: Current Core Position.......................................................................................................8
Part 5: Recommendations..........................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Talent management is one of the major task to an organisation, because proper talent
management always gives opportunity to organisation for gaining an effective and talented
workforce. Currently most businesses and companies are investing very huge fund for increasing
talent and skills of their employees. In this situation, talent management is the most appropriate
way or method for different businesses to improve existing talent and abilities of its workforce.
Top-level management of each business should improve talent of their employees or people,
because management can provide it very high competitive advantage in the market. Currently
many companies have gained huge success in their respective market because of their effective
talent management steps. This report discusses talent management aspect of Lloyds banking
group. It is of the major leading baking companies within the United Kingdom. Some major
techniques and strategies also has included in this report which can support to this banking
company for increasing talent of their existing employees.
MAIN BODY
Part 1: Talent Management Strategy
Currently the Lloyds banking group follows extra-ordinary talent management strategy.
this banking company is highly able to improve talent and skills of their existing employees with
the support of this talent management strategy (Sparrow, 2019). For example; company always
give priority to such candidates in its hiring processes who has great talent and skills in personal
life. On the other side, another strategy is that, company always provides some productive
training sessions to their employees. These training sessions are highly increasing talent and
abilities of their employees. Some major aspects, which this banking company always considers
in its talent management strategy has been discussed below;
Business Strategy and HR Strategy: Lloyds banking group’s existing business and HR strategies
are too favourable for increasing levels of talent within workplace. Currently top-level
management of company has taken various productive decisions towards making their
employees highly talented and skilled. The HR department of company is mainly responsible to
manage and improve talent of existing employees. Currently the HR manager of company is too

good in its job role, because it always takes various steps towards developing various strategies
to improve talent of their employees. For example; it always invites many professional trainers
who provides various training sessions to employees. An employee can easily improve its talent
through business and HR strategies of Lloyds banking group.
Recruitment: Recruitment practices of the banking company are too effective in the terms of
promoting talent within workplace (Bogićević-Milikić, 2019). In these practices, when bank
release job advertisement for filling vacant post, in which company specially mention in
advertisements that, only talent and skilled people are able to applying for vacant post. In this
situation, only those people apply for one job who has full confident on own skills and talent.
Company mentioned some major skills and talent criteria also in job advertisement. For example;
company mostly hire such candidates into company who has effective communication skills,
decision-making skills and extra-ordinary knowledge of banking sector. That’s why currently
company has a talented workforce.
Selection: In selection practices, company always gives higher priority to those candidates who
is able to fulfil full eligibility criteria. Only those candidates are able to fulfil eligibility criteria
who has excellent skills and knowledge of banking sector. HR management always try to avoid
hire those candidates in company who has minimum talent and skills. By conducting these steps,
company is fully able to gain a productive and talented workforce (Gallardo-Gallardo, Moliner
and Gallo, 2017). Human resource manager of Lloyds bank always focuses on more improve its
selection practices, because well improved selection practices can contribute in increasing levels
of talent within organisation.
Performance Management: Performance management is another major strategy towards
develop and improve talent and skills of existing employees. Performance management
practices where HR management of company analysis of existing talent level within employees.
Through analysis, company can easily differentiate between talented employees and untalented
employees. Then company appreciate to their talented employees because of their great
contribution. On the other side, company take various productive steps towards improving talent
of untalented employees. HR manager mostly invites different trainer in the company who
provide various productive training sessions to untalented employees. There are existing talented