Talent Management Strategies and Gender Pay Gap Reporting: A Case Study of Barclays

Talent management

INTRODUCTION
Talent management is defined as the process of attracting, selecting as well as retaining
employees through implementing combination of HR process across the employee life cycle.
There are various activities are included in talent management such as workforce planning,
employee engagement, performance management, on boarding, retention as well as succession.
The main objective of talent management in to improve employee’s performance level that help
business to attain its determined goals and objectives with efficiency and effectiveness. In this
report chosen organisation is Barclays which is British multinational bank headquarter situated in
London, England, UK. It is banking financial service organisation founded in 1690 and operates
in retail banking, investment banking, private banking and others. This report is covered in two
parts, first part is related to organisational current talent management strategies, gender pay gap
reporting as well as environmental factors that impact HRM practices. In second part
recommendations of gap or shortcoming of organisation.
PART 1
Identify the firm’s current talent management strategy
There are various talent management strategies are used by organisation to manage their
talented and improve their performance level to gain competitive advantages in current
competitive business environment. Some talent management strategy in the context of Barclays
are explained below:

Business Strategy and HR Strategy: Business strategy is defined as the all decisions and
actions that are performed by the organisation to attain their determined goals and objective with
the objective of securing competitive position in market place. It is roadmap of organisation that
lead business efforts on right direction to accomplish desirable goals. HR strategy roadmap for
solving business challenge with people-centric solutions. Barclays develops various business and
HR strategies to run business operations in right direction that help to attain defined goals and
objectives with efficiency and effectiveness (Anlesinya, and Amponsah-Tawiah 2020). Barclays
HR strategy is related to governance directed at managing sheer members and as well as
diversify employees so they perform defined operations and work to achieve defined goals and
objectives. Business strategy of Barclays is to building consistent strength in investment banking,
expanding in new economic sector through equity business and merger and acquisition.
Recruitment, including recruitment channels: Recruitment is defined as the process that
is related to identifying, screening, shortlisting as well as interviewing candidates on the bases of
their skills, capabilities and qualification. Barclays adopt effective and systematic recruitment
process to get skilled and capable candidate who can contribute to attain business objective
efficiently. The process enables business to hire suitable candidates for specific job position.
There are various recruitment channels such as online job boards, organisational corporate
website, employee referrals and social media that used business to recruit skilled and qualifies
employees. Barclays uses employee’s referrals and social media to attract skilled employees that
support organisation to attain determined goals and objectives.
Selection Methods: Selection is defined as the process choosing suitable candidates for
vacant positions in organisation. In this stage, organisation weeding out unsuitable applicants as
well as selecting candidates with having prerequisite qualification and capabilities that lead
business towards growth and development. There are various selection methods such as internal
and external recruitment, internship and apprenticeship, measuring employee ability and integrity
that are used by Barclays to hire best talent in organisation.
Performance Management: Performance management tool that enable manager of
organisation to monitor and evaluate employee’s work. This process develops effective
environment in which employees are motivated to perform best of their abilities to attain high
work quality. Barclays uses various performance management techniques such as key
performance indicators, performance appraisal system, provide feedback and others to review

employee performance and manage them accordingly. These techniques and methods motivates
employees to improve their performance level.
Reward Management: Reward management is defined as the policies and strategies that
are developed by organisation to reward employees on the bases of their performance.
Organisation provides effective remuneration, compensation and other benefits that helps
business to retain skilled, capable and experienced employees with organisation. Barclays
analyse employee’s performance than offer them attractive benefits, rewards, recognition,
certificates and other benefits that motivates employees to attain the objective of higher
performance and productivity.
Training and Development (including types of training courses and identifying the
training provider): Training and development is defined as the educational activity that plays
important role in enhancing employees knowledge, skills and capabilities. Barclays provides
work related training to employees that boost their productivity, improve employee’s
performance, reduce employee turnover and maintain organisational culture. There is specific
department for training and development in organisation that provides orientation training,
technical training, on boarding training, product training and sales training that improves
employee performance and efficiency.