Talent Management: Strategies and Practices at Barclays Bank

Talent Management

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Analyse the current talent management strategy of Barclays. For this, the following
information is needed:.................................................................................................................1
PART 2............................................................................................................................................4
Analysing the relevant regulatory factors which impact on organisation and HRM practices...4
PART 3............................................................................................................................................4
Identifying environmental factors which might impact on HRM practices in Barclays.............4
PART 4............................................................................................................................................5
Analysing the current core positions that is being advertised in an organisation. Also, develop
detail information about the desired job roles, skills, behaviours, attitudes, knowledge which
is consider a key to effective performance in this role. Such includes:......................................5
PART 5............................................................................................................................................8
Recommendations.......................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Talent management refers to the commitment of organisation in order to hire, select,
retain as well as develop talented and skilled employees which are available in the market
(Wang, 2016). It is considered as a most useful term when it shows strong commitment that
helps in managing the ability, power and the competencies of workers in an organisation. Human
resource department of companies ensures that staff members along with the right set of skills as
well as qualities stay loyal and retain for the long period of time with the organisations. There are
many tool which are in used for the talent management which includes workforce planning,
strategic plan, leadership development, recruiting, recognition programs, engagement, equality
and diversity, goal alignment, retention and executive coaching as well. In this assignment,
Barclays is chosen which is a British multinational investment bank as well as financial services
company that headquartered in London, UK. As Barclays bank is a good place for the long term
savings, high interest saving account facility, certificates of deposits etc. Under this report, the
current strategies of talent management along with the business and HR strategies of company
are discussed. Also, analyse many regulatory factors that impact on the HRM practices and
organisation along with the identification of environmental factors. Lastly, discuss about the
detail description of job and persons skills and knowledge and measures their performance as
well.
PART 1
Analyse the current talent management strategy of Barclays. For this, the following information
is needed:
Business strategy:
The business strategy of Barclays bank is to deliver strong returns by building on their
own strengths as a transatlantic consumers and wholesaler bank along with the global reach. The
company Barclays also set up corporate social responsibilities policies in order to increase
employees morale and made them proud to work for company (Davis, 2016). This is mainly
helpful for addressing social issues, voluntarism and investing in community initiatives.
HR strategy:
It is about the governance directed at managing absolute numbers and diversity of
workers so that all the working and functions are performed accordingly and accomplishing
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business objectives. Also, the main purpose of HR strategy is to attract, develop and retain all the
talented people for long period of time. Some of the Barclays HR strategy are as follows:
People management: A formal learning process has been developed and puts into the
place by the HR manager of Barclays and the manager focused on developing values and
behaviour of employees in order to accomplish organisational objectives.
Democratized structure: Barclays corporate culture correspond democratized structure as
nobody has a private office as workers sit in a same size chairs and desk and use their first names
when they address each other. This type of culture creates conductive environment for
innovation and Barclays promotes inclusive cultures where workers of all backgrounds are
respected (Krishnan, 2017).
Competency based pay system: Barclays provides clarity about how workers can add
value through the respective job roles in an organisation and motivate them to perform better.
The benefits packages is consisted of financial rewards like salary, bonuses, recognition schemes
wherein workers could receive performance based perks and gifts.
Recruitment:
Recruitment refers to the process of analysing job vacancy, identifying requirements,
reviewing applications, screening and short listing and lastly selecting a candidate for a specific
job role. The recruitment process of scenario of Barclays is based on the type of work which a
candidate had carry out as a graduate recruit. Instead of asking to send CV the human resource
manager of Barclays assess candidates skills and knowledge by using assessment, face to face
interviews etc. Recruitment procedure means analysing the requirements of job, searching
prospective candidates who are then encouraged and stimulated to apply for the job within an
organisation. The recruitment process in Barclays bank includes several stage such as conduct
aptitude test, group discussion and personal interview.
Selection:
Usually in the banks the selection process comprises of three parts such as preliminary
exam, mains and interview. Candidates require to pass all the stages with the good marks
whereas, all banks has their cut off for selection of candidate. The company Barclays use
assessment test and interview process so that they easily assess the strength and cognitive
abilities, skills and traits of candidates and choose them as per the business requirements
(McDonnell, 2017).
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