Talent Management Assignment 2022

Running head: TALENT MANAGEMENT IN BEST CAR BANK
Talent Management in Best Car Bank
Name of the student
Name of the University
Author note

TALENT MANAGEMENT IN BEST CAR BANK1
Table of Contents
Introduction.................................................................................................2
Current Situation in BCFS Best Car Bank.....................................................2
Talent management approach in Best Car Bank.........................................3
Recommended measures............................................................................5
Conclusion...................................................................................................6
References..................................................................................................7

TALENT MANAGEMENT IN BEST CAR BANK2
Introduction
Talent management refers to the commitment of a company of
recruiting and hiring the talented employees which are available within
job market. It consists of work process along with the systems that aids in
the development of the superior workforce. It is indicative of a business
strategy that aids an organization in retaining the talented along with the
skilled employees (Collings, Scullion and Caligiuri 2018). Best Car
Financial Services (BCFS) provides the customers with the full range of the
automotive financial services which is inclusive of the financing, leasing
along with the insurance. The organisation is a subsidiary of Best Car
Group (BCG) which has the mission of promoting the sales of the vehicles.
It operates in more than that of 30 countries that has made it a global
automotive financial services provider. This report discusses about the
current situation prevailing in BCFS and the present talent management
approach within the company. This report elucidates on the short-term
along with the long-term measures that can be used by BCFS and the Best
Car Bank that can help it in the area of talent management.
Current Situation in BCFS Best Car Bank
BCFS was impacted by financial services that turned into the global
recession. The company had to face immense amount of loss in the year
2009 when the car market shrank by 20 to the 40 percent. The company
had to face the burden of the loss which made the management take
recourse to the countermeasures that can help in cutting the costs of the
company. The company stalled a large number of the activities and only
the activities related to the technology development were encouraged in
the company. The leadership in BCG did not react to the crisis in the right
manner and there was no vision in the company that can address the
fundamental issues in the company. The leadership of the company was
not visible and they did not adopt the right strategies that can help the
company in overcoming the crisis (McDonnell et al. 2017). In the year
2009, the sales of the company fell by that of 15 percent that weakened
the scope of the business. The sale of non-automotive portfolio caused a