Talent Management Practices and Trends

This assignment delves into the complexities of talent management, examining various practices and trends shaping the field globally. It requires an in-depth understanding of talent acquisition, development, retention, and the psychological aspects influencing talent management decisions. The analysis draws upon academic research and case studies to highlight best practices and address contemporary challenges faced by organizations worldwide.

Talent management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Identification of firm's current Talent management strategy......................................................1
Regulatory factors which impacts on HRM practices and organisation.....................................3
Environmental factors that impacts on HRM practices..............................................................4
Identification and analysis of core positions...............................................................................6
Recommendation.........................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Talent management can be described as to manage the human resource of an organisation
as per their skills or abilities while allocating tasks or procedures. It also includes to recruit well
qualified and experienced candidates according to required capabilities of specific vacant
designation in company. This will facilitate to complete roles and responsibilities of particular
position in company to fulfil desired targets successfully on times (Wamba and et .al., 2015).
This report is based on Barclays Plc which is British multinational investment bank and financial
services whose headquarter is situated at London. It deals in over 40 counterspies having
numbers of staff members approximately 120,000 to conduct various operational activities
properly. This assignment will discuss about current talent management strategy including
training or rewarding along with regulatory factor like equality legislation or diversity.
Identification of environmental factors which impacts of practices of human resource
management and analysis of core positions liker attitudes, knowledge skills etc. are given below.
TASK
Identification of firm's current Talent management strategy
Talent management is basically to manage staff members of organisation in appropriate
manner to improve outcomes on regular basis which results in completing desired targets. It
includes to conduct several training or learning programmes for enhancing efficiency of
employees through improving skills or capabilities for increasing daily outputs properly.
Barclays Plc have to focus on several activities which should be carried out in accurate way to
achieve desired outcomes are described below:
Recruitment and selection :- The term recruitment and selection refers to carrying out
an effective procedure by Human Resource team of an organisation to hire appropriate
candidates (Stahl and et. al., 2012). It is important to recruit an individual as per skills or
experience according to vacant designation so that hired employees can fulfil roles or
responsibilities for generating desired outcomes. Barclays Plc have to conduct an efficient
recruitment of employees to completed regular targets of investments and banking aspects to
fulfil them properly. Various designations are required to be completed like clerks, managers.
Assistant- managers etc. having expertise in specific field to fulfil desired tasks.
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Performance management :- This can be described as to observe, analyse and evaluate
performance of staff members on regular basis to know about threats or issues in completing
daily outcomes through efforts of employees. Generally, performance management is tasks of
superiors like manager or leaders in company (Dries, 2013). They are required top first set
accurate standards of performance and then calculate actual working of workers to identify gap
between desired targets and exact outcomes. It is essential to appraise people for their excellent
performance and tell about problems along with techniques to solve them for improving working
efficiency. Barclays Plc have to evaluate working of staff members and identify threats to solve
them for increasing productivity as well as profitability of an organisation.
Rewarding :- The term rewarding refers to provide awards or incentives to employees
for heir excellent performance for encouraging them to improve their regular productivity. There
are different types of appraising preprogramme organised by various companies as per their own
criteria of appraisal through rendering certificates, compensation, bonuses, rewards an so on. It
will make people feel valuable and loyal to enterprise as they thought positive and remain there
for a long time. Barclays Plc have to conduct effective rewarding or appraising events to
motivate human resource to increase their daily outcomes and reduce employee turnover as well.
Training and development :- Training or learning procedures are essential to be carried
out in more effective as well as efficient manner for increasing capabilities and skills of staff
members. This will facilitate to improve employee abilities which provide support to attain
growth in personal as well as professional career. Training and development activities are
mandatory to be organised in Barclays Plc for introducing new innovative strategies to improve
qualities of services and gain better profitability as well. In current scenario of technology, firms
are utilising various technological software for carrying out regular activities with creating
desired outcomes (Zhao, de Pablos and Qi, 2012). To implement such fresh techniques,
manpower should be trained to work on them properly for improving profits
Equality and diversity :- The term equality is all about to treat each and very individual
in equal manner without behaving partially. It includes that company have to provide several
types of opportunities with equality to all the staff members working there. It is mandatory
according to law that every single person must b e treated in correct manner so that they feel to
be equal to others performing in organisation. Diversity can be defined as people belongs to
different culture or religion working in particular organisation. Barclays Plc have diversity of
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work force which must be treated with fact of equality in company. People belongs from
differentiated religion having dissimilar thoughts or values which results into some of issues or
conflict amongst them. It is necessary to establish a particular culture of enterprise to reduce
problems between employees and render equal opportunities to everyone in Barclays Plc.
Regulatory factors which impacts on HRM practices and organisation
There are different types of human resource activities which are necessary to be carried
out to complete daily tasks or procedures in accurate manner (Dettmer, Knackendoffel and
Thurston, 2012). Different HRM practices are essential to be conducted for fulfilling regular
targets to generate desired outcomes. It includes several types of procedures like recruitment &
Selection, training & development, performance appraisal and so on. Several kind of factors
which impacts on HRM practices of Barclays Plc are given below.
Equality legislation :- The rule of equality is applied by government authorities to treat
staff members properly including aspect of working hours, compensation, incentives,
opportunities and behaviour of superior with sub ordinates. There are various types of
legislations are made by legal agencies which are compulsory to be followed by all firms as per
their limitations or operational activities. Barclays Plc have to apply law of equality and render
benefits or profits to different workers in equal manner. It is necessary to retain employees I n
company and make them loyal so that they will put their all efforts to for improving productivity
as well as profitability.
Diversity of workforce :- The term diversity of work force can be described as people
working in an organisation belongs to different culture and religion. It means that these
employees have dissimilar thoughts ideas, values, beliefs and concepts which may results into
conflicts between the. To get rid off such problems, companies are required to maintain an
effective culture of an organisation which is mandatory to be followed by employees working
there properly (Festing and Schäfer, 2014). Barclays Plc have to establish their own rules or
regulations in enterprise to decrease conflicts and increase benefits in accurate manner. Every
worker have to believe in specific policy of firm besides of their own religion.
Economic conditions :- The term economy is related to stability of an organisation in
respect of money or funds. Each and very business is running to earn desired profits through
building an appropriate plan of action along with efficient strategies to fulfil regular targets.
Economic condition of a country impacts on HRM Practices in order to organise learning
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programs which cannot be conducted properly that effects profits of company. Barclays Plc have
to maintain margin of capital to carrying out several tasks while economic fluctuations takes
place. Bad economy impacts in negative manner on various firm's so that it is essential to
maintain funds of company to reduce these problems.
Technological advancements :- There are different types of technologies which are
utilised by organisations such as manufacturing machineries, software, applications and many
more. Use of technology provide support to perform tasks or activities easily and make an
accurate outcomes (Cole and Kelly, 2011). HR team have to look after to implement new
techniques and try to apply them in correct way for earning estimated outputs from it. Barclays
Plc have to establish an effective system to adopt fresh technology in easy manner to get better
outcomes. It is important to accept new software for increasing productivity to enhance brand
image in market trends in front of customers.
The above mentioned factors impacts on HRM practices of an organisation as they are
required to apply new technical methods to conduct tasks or processes through innovative ideas.
Creativity helps to improve benefits but needs little bit more efforts of human resource in order
to implement new concepts in an enterprise for attaining success.
Environmental factors that impacts on HRM practices
There are different types HRM practices such as recruitment & selection, learning &
training, motivation events and many more. To carrying out all these activities by human
resource team, effective decision- making is necessary along with considering impacts of
environmental factors on HRM practices and organisation. Several these elements which effects
procedures of Barclays Plc are described below.
Customers and Suppliers :- Clients are responsible to facilitate any change
implemented into products or services. HRM team is required to be analysed in appropriate way
of decision- making to apply new concept of innovation for improving quality of services
(Vaiman, Scullion and Collings, 2012). HR department of Barclays Plc have to make an efficient
plan of action to fulfil needs or demands of customers. Suppliers of raw material or other needed
things for providing accurate services for gaining satisfaction of clients and make efficient
relation with suppliers.
Political and legal rules :- There are several political ethics and legal norms made by
government authorities which are compulsory to be considered by HR team of an enterprise
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while making any policy or strategy of conducting any procedure. For example, some techniques
of marketing should be executed in such manner so that it will harm values of political parties or
laws of nation. Barclays Plc have to take care of all legal and political aspects while conducting
several tasks of HRM practices properly.
Competitors :- Different types of organisations are carried out heir tasks and run in
current scenario of changing trends of market. It is essential to determine various competitive
firms in order to grab more market share and reduce negative impacts of policies of other
enterprises (Armstrong andTaylor, 2014). Barclays have to observe present strategies adopted by
competitors for building better techniques to maintain strong position in competition of market to
gain competitive advantage. HR team have to make an effective policy to achieve desirable
targets for getting profits.
Changes in technology :- Various kinds of technologies are used in companies for
making their regular activities to be carried out easily. Several soft wares are helpful to improve
brand image, profits, sales, numbers of customers etc. HR team have to make sure that new
technologies should be utilised in appropriate manner and modifications should be done to
increase profitability of Barclays Plc. Changes are must to be applied for maintain brand image
in market competition for attracting more clients to improve profits.
Changes in international economy :- International economy refers to stability of
economic growth in terms of money or funds which are utilised for welfare of people living all
over the world. Imbalance of international economy impacts of countries and organisations. HR
team of Barclays Plc have to establish back up plan to overcome with these instabilities to reduce
negative impacts of changes occurs in international economy.
Social and cultural :- There are various types of cultures or societal norms which are
mandatory to be followed by an organisation for carrying out several processes. It is necessary to
analyse that events conducting by company should not harm values of any culture, religion and
social rule (Gallardo-Gallardo, Dries and González-Cruz, 2013). Barclays Plc have to execute
marketing to promotional activities to increase sales or profits but make sure that it will nor hurt
any cultural beliefs.
The above mentioned environmental factors are responsible for put effects on practices of
human resource management. It is important to observe, analyse and evaluate impacts of external
elements relevant to environment by HRM practices to get desired results.
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Identification and analysis of core positions
There are different types of positions which are required to identify and analyse
according to desired qualities or abilities for fulfilling roles or specific designations (Guerci and
Solari, 2012).
Job description For HR Manager
Job description
Post  HR Manager
Department  Human Resource Department
Responsible to  Recruitment and other activities of HR team
Task and activities
 Working hours up to 8 to 9 hours per day.
 Recruitment and selection of appropriate candidates through analysing capabilities.
 Fulfil desires of staff members expected from HR team like performance appraisal etc.
 Transfers and promotions as per excellent performance of employees.
 Solve issues regarding compensation or incentives.
 Employee management and retention strategies.
Person specification for HR manager
Essential Desirable
Skills  Excellent communication skills
and identify abilities into
people quickly.
 Listen to every employee and
solve their issues properly.
 Supportive to employees of
company.
 Try to solve problems of
workers carefully.
Knowledge  Must have degree of Master in
business administration
 Internship in Bank and
knowledge about its aspects.
Experience  4 to 6 years in field of Human
resource management
 Worked with team or panels to
recruit candidates.
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Attitude  Positive and willing attitude to
sort our challenges and get
desired outcome.
 Presence of mind.
 Decision making with positive
sense.
Recruitment channels :- There are various kinds of sources which are used to provide
information about vacancies to candidates so that desired people can apply for particular job.
Barclays plc can adopt several channels of recruitment which are given below. Company websites :- Companies are utilise the technique of providing information about
vacant designations along with necessary details on their official websites on regular
basis (Cooke, 2011). Candidates have to check the websites of organisation regularly to
grab opportunity of job. Barclays plc can render such knowledge about recruitment on
their website so that applicable candidates can apply for job and vacant position can be
fulfilled in accurate manner. Employee referrals :- Various companies ask from their present employees to given
reference of their friends, relatives and known persons so that they can select candidates.
It is quite percha as company should not implement much amount and just conduct
interview or necessary criteria for selection. Barclays plc may adopt this technique to
select desired candidate for specific position.
 Agencies and consultancies :- There are several agencies and consultancies which
worked as connecting link between candidate and company. They provide job
opportunity to person and render candidate to organisation to gain commission from both.
Selection methods
 Interviews :- The term interview refers to exchange ideas, views, thoughts to each other
for specific purpose. In criteria of selecting a person for HR manger position of Barclays
Plc, it is mandatory to conduct an interview for determining mind set ups, confidence and
quick decision ability for particular designation.
 Tests of capabilities :- Several types of tests are taken to select an candidate such as
medical, written, psychological and may more (Santhoshkumar and Rajasekar, 2012).
Performance management criteria :- HR manager of Barclays plc have to first set
standards of performance and then calculate actual working outcomes of staff members. This
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will facilitate to determine gap of threats into performance and make policies to improve
efficiencies of employees to get desired productivity on regular basis.
Recommendation
The above report had mentioned various strategies that can be utilised by companies to
mange their human resource for carried out different aspects of business to run it successfully.
Barclays Plc can apply several strategies to conduct talent management in accurate manner.
 Work force planning is recommended to do by an appropriate planning of man power by
allocating tasks or processes as per their field of expertise so that they can fulfil duties in
more effective way to generate desired outcomes efficiently (Jones and et. al., 2012).
Barclays Plc have to appoint employees at position of their specialisation to perform
properly.
 Career developmental is suggested that firm is required to be focussed on skills or
abilities of staff members because their efficiencies decide growth of personal as well as
professional career. It is mandatory to conduct effective learning activities in Barclays
Plc so that workers can improve their capabilities to perform more effectively in an
organisation.
 Retention planning is recommended because people are working at same place and they
have to fulfil single duty on regular basis which makes them feeling bored after
sometime. Apart from this, employees get frustrated from the pressure of specific job and
decide to give resignation. Barclays Plc have to apply effective events to motivate staff
members and make them feel valuable which retain them into company for a long time.
 Employee engagement is suggested in which involvement of workers into certain
meetings and conferences relevant their working field. It is required to ask for
suggestions to them that may helps to make an effective decision for making an accurate
strategies or policies to carried out various tasks or processes in correct way for getting
desired results (Swapna and Raja, 2012).
The above mentioned strategies can be implemented into operational activities of
Barclays plc through making an effective as well as efficient plan of action. These policies are
beneficial for organisation as it provide support to improve productivity and profitability in more
proper manner. It is essential to first conduct meeting for implementing these strategies and
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convey about benefits to manpower of an enterprise. Human resource is responsible for adopting
nay concept because they have to work on that so it is necessary to make them convinced for
applying fresh policies for gaining benefits in Barclays Plc.
CONCLUSION
The above report had concluded that talent management can be described as to manage
the human resource of an organisation as per their skills or abilities while allocating tasks or
procedures. It includes to conduct several training or learning programmes for enhancing
efficiency of employees through improving skills or capabilities for increasing daily outputs
properly. Different HRM practices are essential to be conducted for fulfilling regular targets to
generate desired outcomes. To carrying out all these activities by human resource team, effective
decision- making is necessary along with considering impacts of environmental factors on HRM
practices and organisation. There are different types of positions which are required to identify
and analyse according to desired qualities or abilities for fulfilling roles or specific designations.
Strategies can be implemented into operational activities of Barclays plc through making an
effective as well as efficient plan of action.
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REFERENCES
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management with special reference to service sectors. Advances in Management.
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