Contemporary Management Report: HSBC Australia Talent Management Plan

This report provides a comprehensive analysis of the contemporary management practices at HSBC Australia, focusing on its talent management plan. It explores the importance of aligning talent management with the company's strategies, leadership criteria, and functional areas to ensure optimal success in a changing business environment. The report examines key challenges faced by HSBC Australia, including globalization, digitization, and evolving customer expectations. It delves into the significance of goal alignment, employee engagement, and the role of human resource management policies in fostering a positive work environment. Furthermore, it highlights the importance of leadership approaches, employee motivation, and the promotion of a diverse workforce. The report also discusses the implementation of modern technologies and strategic planning for future growth, concluding with recommendations for continued improvement and success. The report emphasizes the need for continuous training, employee development, and the adoption of innovative technologies to maintain a competitive edge in the global market.

Running head: CONTEMPORARY MANAGEMENT
Contemporary Management
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Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Conclusion..................................................................................................................................6
References..................................................................................................................................8

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Introduction
Human resource managers and executives of a company have always focused on the
basic need of talent management plan for the organization. Talent management plan includes
hiring, retaining or acquiring talented employees. In order to reach the optimum level of
success, organizational leaders need high performing and engaging employees. It is important
to align the talent management program with the strategies of a company, its leadership
criteria and functional areas (Subsorn and Limwiriyakul 2012).
The report throws light on the importance of talent management plan to cultivate for
the continuing growth of a well known company HSBC Australia. The company has been
worried about the impact of the changes the modern business world has brought.
The report consists of a talent management plan for the company to tackle the issues
and challenges for the next ten years. The best talent managing plan is related to the strategic
plan of any company and the overall needs of a business.
Discussion
Goal alignment can be considered as a powerful tool of management, which not just
only clarifies the job roles of individual workers, but also discusses the ongoing values of the
employees in the organization. HSBC Australia is a well known bank that offers a vast range
of banking services and products to the commercial, retail, institutional and corporate sectors
(Farndale et al. 2014). It provides its customers with a huge range of financial services,
including commercial and retail banking. Recently, the company has been facing some issues
and challenges, due to the changing modern business world. The key factors can be the
knowledge economy, globalization, structural employment and skill gaps, workplace

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diversity, digitization, telecommunications and last but not the least; the growing
expectations of the customers (Thomas 2013).
Talent management plan helps in developing the company’s strategies and business
needs. At the time of engaging the workers into their work, it is to be kept in mind that
greater ownership of employees can lead to the company’s success. Through goal alignment
plans, employees become more engaged and committed to the company’s growth and
moreover, they achieve great levels of performance. For a change, HSBC Australia needs to
change their strategies to some extent, in order to satisfy the needs and demands of the
consumers. The company needs to keep under consideration, several strategic planning which
are discussed in this part of the report (Cain 2015).
The Human Resource Management policies of HSBC Australia are highly
commendable as well as appreciated. It has worked hard to provide its workers and associates
with a better working life. The company must also focus on other non-monetary factors; it
should give equal importance to other things, such as stabilizing both professional as well as
personal life, better opportunities of improvement, good leadership and a friendly
environment of working and development (Downs and Swailes 2013). Interaction with the
workers has disclosed the fact that they are quite happy working with the corporation. The
organization’s culture as well as guiding principles and policies have a notable impact on the
Human Resource policies of the enterprise, but it should also focus on manpower selection,
recruitment and also planning, training, grievance redress, development, employee retention
and welfare initiatives (Swailes 2013).
The company has gained international popularity and acclamation. The vision and
mission of the company is to offer the customers with the best banking and financial services
across the globe. It has built a good image and earned great reputation, through creating a

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safe and healthy working environment for the employees. Moreover, they must take into
account every single item and with great detail, to please the customers and check that they
don’t get offended with the services. The major concern must be the satisfaction of the
customers as well as the employees. The company has helped in framing the modern industry
banking (Elegbe 2016). However, while recruiting new employees, the company must
conduct an orientation program for them, in order to make them understand the vision,
mission, goals, strategies and planning of the organization. Such programs help the
employees to gain an understanding regarding the company policies and procedures.
Furthermore, the organization must conduct various management programs, where different
types of courses must be taught to the new employees, by certified trainers, professional
experts and others. The employees must be motivated and encouraged to interact as well as
share their views and opinions regarding banking and financial services (Kasemsap 2016).
The success of the company totally depends on how the organizational leader is
treating his/her associates. It must not be taken very lightly as it has the potential to energize
the employees, which can drive the company to something huge and greater. HSBC Australia
must always look out for new and modern measures for recruiting, developing or training
their employees. They must be provided with vast opportunities and benefits as well, in order
to assist in the profitability and productivity of the organization itself (Al Ariss, Cascio and
Paauwe 2014). The board members of the company are strictly responsible for supervising
the organizational management as well as providing the employees with strategic directions.
The Global leaders’ group is highly responsible for overall administration of the organization.
The chairman of the company, Mr. Tung Shun Wong JP maintains a quality governance
standard in the company. Mr. Antony Cripps is the Chief Executive Officer and Executive
Director of the company, who has been successfully leading the organization, for years, to the
success. Other members of the board namely, Carol Austin, Mark Johnson, Graham Bradley

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and others has made an exceptional change within the corporation and helped in its progress
(Schuler 2015).
The company has managed to earn faith and trust from their customers. However, for
a better talent management plan, they must motivate as well as encourage their workers by
offering them with opportunities of issues resolving, which arises at times. This assists in
gaining some creative as well as innovative ideas. They should motivate the associates or
employees to voice their feelings as well as share their views fearlessly. This will help HSBC
to gain a clear understanding of the problems of their workers. They should also offer their
workers with individual sessions of career counseling as well as mentor them for the
development of their personality. A leadership approach, of this sort, is highly required in
each and every company to reach the heights of appreciation (Bluen 2013).
HSBC conducts its operational management in highly efficient manner. The company
has worked hard in gaining a respectable market position and that is highly acclaimed.
However, the company must keep on encouraging skilled and diverse workforce, which will
prove beneficial for the competitive advantage of the company, on the international platform.
An organization with skilled and diverse offerings of experiences such as, cultural
understanding, ethnicity, languages and more, can provide better services and facilities to the
customers on a global platform. It also assists in the expansion of the company’s existing
service range and that is advantageous for them (Mobley, Wang and Li 2012).
A diverse group of workforce enables the employees freely communicate as well as
provide a vast range of experiences, skills and points of view. It assists the company to meet
the ever expanding needs of the customers as well as business strategies in a more proficient
manner. Multinational companies that promotes diverse workforce can prove to be an
inspiration for its workers and motivate them to give their best performance. The company’s

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operations management must support the employees to effectively execute as well as
implement organizational strategies, which results in profitability, return of investment and
profit. The company should effectively manage its employee’s attitude as well as behavior
and moreover, professional diversity trainings must be given, which will prove advantageous
for the company (Silvanto and Ryan 2014).
However, with new technologies’ invention, HSBC must consider reshuffling and
reframing its technological factors, while implementing the new ones. In recent day’s
competitive environment, information technology’s implementation in every operational area
is a very integral part for any company’s success and growth. Every company looks out for
modern and innovative measures for improving their strategies and developmental policies
(Gelens et al. 2013). The company should upgrade their existing policies and reshuffle them,
considering the leadership approach and employee behavior. They should start implementing
new policies and procedures, for competing with other companies in the global platform. The
implementations must be framed beforehand and strategically planned, keeping into
consideration the pros and cons. Therefore, HSBC Australia’s management should keep these
factors into mind for its further growth and improvement (James Sunday Kehinde 2012).
Conclusion
To conclude, HSBC Australia has successfully gained mass attention and won many
people’s hearts as well as appreciation, in terms of both banking facilities as well as loyalty.
The organization has achieved much popularity from their customers as well as the media. In
addition to this, the company can further execute more efficient strategies as well as policies,
in order to gain better benefits and mass attention. Employees must be receiving regular
trainings by management group, which in turn will act as a motivator for them. Every
employee should have a common goal and target during their sessions of training, which

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would further help in checking their efficiency. Furthermore, categorical developmental
programs must be introduced amidst the employees, who are qualified enough to move to the
upcoming stages. Introduction of feedback forms will help the organization gain a clear
understanding of their mistakes, if any. Moreover, the company should start implementing
innovative technologies, as the globalized world has become more competitive. With digital
media, marketing and promoting a company has become easier. Therefore, HSBC Australia
must focus on this segment of marketing more, in order to capture the global markets.

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References
Al Ariss, A., Cascio, W.F. and Paauwe, J., 2014. Talent management: Current theories and
future research directions. Journal of World Business, 49(2), pp.173-179.
Bluen, S., 2013. Talent management in emerging markets. Knowledge Resources Publishing.
Cain, A., 2015. Diving into the digital age. Company Director, 31(1), p.16.
Downs, Y. and Swailes, S., 2013. A capability approach to organizational talent
management. Human Resource Development International, 16(3), pp.267-281.
Elegbe, J.A., 2016. Talent management in the developing world: Adopting a global
perspective. Routledge.
Farndale, E., Pai, A., Sparrow, P. and Scullion, H., 2014. Balancing individual and
organizational goals in global talent management: A mutual-benefits perspective. Journal of
World Business, 49(2), pp.204-214.
Gelens, J., Dries, N., Hofmans, J. and Pepermans, R., 2013. The role of perceived
organizational justice in shaping the outcomes of talent management: A research
agenda. Human Resource Management Review, 23(4), pp.341-353.
James Sunday Kehinde PhD, A.C.A., 2012. Talent management: Effect on organizational
performance. Journal of Management Research, 4(2), p.178.
Kasemsap, K., 2016. Promoting leadership development and talent management in modern
organizations. Project Management: Concepts, Methodologies, Tools, and Applications:
Concepts, Methodologies, Tools, and Applications, p.178.
Mobley, W.H., Wang, Y. and Li, M. eds., 2012. Advances in global leadership. Emerald
Group Publishing Limited.
Schuler, R.S., 2015. The 5-C framework for managing talent. Organizational
Dynamics, 44(1), pp.47-56.

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Silvanto, S. and Ryan, J., 2014. Relocation branding: a strategic framework for attracting
talent from abroad. Journal of Global Mobility, 2(1), pp.102-120.
Subsorn, P. and Limwiriyakul, S., 2012. An analysis of internet banking security of foreign
subsidiary banks in Australia: A customer perspective. International Journal of Computer
Science Issues (IJCSI), 9(2), pp.8-16.
Swailes, S., 2013. The ethics of talent management. Business Ethics: A European
Review, 22(1), pp.32-46.
Thomas, R., 2013. From the CEO. InFinance: The Magazine for Finsia Members, 127(1), p.3.