Talent Management in Banking: Barclays PLC Strategy Report

This report provides a comprehensive analysis of talent management within Barclays PLC, a multinational investment bank. It begins with an introduction to human resource management and the specific context of Barclays PLC in the UK banking sector. The report then delves into Barclays' current talent management strategy, detailing various HR functions such as recruitment (internal and external sources), selection processes, performance management, reward systems, training and development initiatives, and the bank's approach to equality and diversity. Furthermore, the report identifies and examines the impact of various regulatory factors, including the Equality Act 2010 and the Employment Rights Act 1996, on Barclays' HR practices. It also explores the influence of different environmental factors, encompassing political, economic, social, technological, legal, and environmental considerations, on the human resource department. A significant portion of the report is dedicated to the identification and analysis of a core position within Barclays, specifically the HR executive role, including a detailed job description and person specification. Finally, the report concludes with recommendations for improving talent management practices within Barclays PLC.

Talent management
system

Table of Contents
INTRODUCTION...........................................................................................................................5
TASK...............................................................................................................................................5
Part 1: Identification of the firm’s present talent management strategy................................5
Part 2 Identification of various regulatory factors that can poses impact on the organisation7
Part 3 Different environmental factors that are impacting the HRM practises of the
organisation............................................................................................................................7
Part 4: Identification and analysis of present core position....................................................8
Part 5: Recommendations:....................................................................................................13
CONCLUSION..............................................................................................................................15
REFERNCES.................................................................................................................................16

INTRODUCTION
Human resource management can be defined as a function that is used for management of
talent in a organisation. The present report is based on the banking sector of UK that is Barclays
PLC (Rozario, Venkatraman and Abbas, 2019). Barclays PLC is a multinational investment bank
that is having headquarters in London. There is discussion of the present talent management
strategy of the organisation and various regulatory factors that are affecting the functioning of
this organisation. Apart from this there discussion of different societal factors also that posses a
impact on the human resource department of the organisation. Further the core position of the
organisation is analysed and lastly various recommendations are being provide for purpose of
effective management of human resources.
TASK
Part 1: Identification of the firm’s present talent management strategy
In every organisation there ius a particular strategy that is in concern with management of
talent of their human resource stat is being adopted to ensure smooth functioning. In present case
of Barclays also there is a particular strategy that is being used in each human resource functions
and aspects. Such different strategies in concern with human resource functioning is discussed
below:
HR strategy: It is the basic human resource strategy that used by Barclays in which
employees are hired by use of certain recruitment and selection approaches (Saks, ., 2017.)
Recruitments: In every organisation success of recruiters is measured by amount of
positions they are able to fill and asoscietd time with each function. In Barclays both internal and
external sources of recruitment are used by the human resource managers. Such as in case if
external recruitment different identified sources like employment changes and campus
recruitment are two commonly used approaches. On other hand in case of internal sources of
recruitment there is promotion & transfers that are use for rotation of employees internally in the
organisation is applied in order to fulfil the requirements
Selection: selection is a process or a final decision that is made after smooth completion of
the recruitment function. In this after a detailed analysis of a candidate based on certain skills
they are selected or rejected by the interviewer. There are different processes that can be used by
a organisation for selection of employees. In case of Barclays, there is use of interviews as a

most commonly used approach for final selection of employees that includes a aptitude or a
written test and after that a face to face interview round takes place between the prospective
employees and human resource executives. The result of interview actually defines whether a
candidate will be selected or not finally (Stewart. and Brown, 2019). If selected then an offer
letter is send to the candidate and if nit then a mail of rejection is sent.
Performance management: It is the utmost responsibility of the human resource
department of organisation to manage the performance of their employees. In Barclay’s
performance of employees is managed in such a way that if it is seen that employees are less
motivated or not able to proved higher contribution in increasing productivity then there are
certain tools and techniques that are being used such as monetary and non monetary tools are
used in such cases. In monetary bonus, higher compensation are offered and in non monetary
courses there is offering of several medical or insurance benefits that are additionally offered to
employees. These cat as a great tool for providing motivation to employees and thus, raising
their overall productivity level.
Reward: Rewarding is a very commonly used methods of increasing employee
motivation, it is also used for retaining of an employee and reduction of employee turnover
(World Health Organization, 2016). The overall reward framework in Barclays is for various
psychological and relational outcomes. Various rewards that are offered by this bank includes
Bonuses, Job security, growth opportunities and informal and formal development opportunities
are some of the rewards that are offered by Barclays PLC to their employees.
Training and development: there is always a possibility that employees that is being
selected may and may not posses the skills that is actually required to perform their assigned job
roles and responsibilities. In such situations there is a requirement for training session that have
to be provided to employees. So, in case of Barclays PLC timely sessions are organised like
twice in each month such sessions are organised so that employees can learn something near
from their existing skills. It leads to their individual development.
Equality and Diversity: Diversity is a very common aspect that can be seen in mostly all
organisations today. The main reason behind having a diverse workforce is that employees from
different culture, background, caste are part of evry organisation (Slavić, Bjekić, . and Berber,
2017). They all together constitute the whole workforce of the organisation. In Barclays also
there is a workforce that is from different backgrounds, caste culture and many peoples of other

countries are also part of their organisation. Human resource department is making adequate
attempts to ensure that all such employees are provided equal treatment in terms of
compensation, salary and other benefits. They are making sure that there are complete equality 7
diversity practises that are being followed across all different departments.
Part 2 Identification of various regulatory factors that can poses impact on the organisation
There are different legislations that have been developed by government of every country
and those have to be completely followed and implemented. All such legislations also impact the
various HR practises and strategies that have to be formed in course of functioning of the
business as discussed below:
Equality Act 2010: It is an act that was enacted buy the parliament of United Kingdom.
The primary objective of this cat is consolidation and updating of the different other acts that
have been implemented before this act (Collings, ., Wood. and Szamosi, 2018). It consists of
various restrictions that all employees have to be treated equally in the organisation irrespective
of the caste, creed, culture or background to which they belong.
Employment right act 1996: It is an act that gives certain special rights top employees
such as it gives them a right to have flexible working hours and leaves at time of requirements or
additional benefits. All such rights are provided to employees and they can be exercised by
employees in Barclays PLC whenever they feel the requirement that there is some unfairness that
is being practise on part of the organisation.
Part 3 Different environmental factors that are impacting the HRM practises of the organisation
Macro environment factors are those that are part of external business environment that is
impacting the overall functioning of human resource department. Such as there are certain
factors that are discussed as below:
Political factors: Political factors consist of different factors that are related to different
political scenario of a country that can have an impact on business (Bratton, and Gold, 2017). In
case of Barclays PLC it is present in UK and the political conditions of UK have been impacted
by the referendum of Brexit. In case of human resource department there is limited number of
options as there is increased number of people of other countries.
Economic factors: There are certain economic conditions such as in case of recession or at
the time when time when the growth of economy is slow then it may lead to difficulty in
maintaining of the exiting workforce for human resource department for a organisation. In

Barclays there is a policy that human resource department has to manage from internal source of
recruitment in such situations and there is no use of external sources of recruitment for the
purpose of hiring of employees.
Social factors: Social factors of an economy are those that are related to changing
preferences and patterns in the people living in society. In case off Barclays PLC when there are
changing preferences of people as they are willing to make more investment or in situations of
investment when everything is at high peak then in these cases there is more pressure on the
human resource departments to hire more employees as there is requirements of more workforce
to handle to work pressure in a organisation.
Technological factors: There is great impact of various technological factors that can
posses’ impact on human resource functioning. Such as with the advent of technology there has
been a complete change in way banks are using their functions such as there has been a rise in
digital mode of banking transactions (Akter, 2019). It leads to less requirements of human labour
as costly functions are taking place by use of online modes of opening of accounts etc. So, it has
lead to complete shift of the skills that are required for employees that have to be hired in
Barclays by the human resource department.
Legal factors: There are certain legal regulations that have to be adopted by every
organisation. Such as, legal laws and acts like anti discrimination laws have been implemented
by the human resource department. In this situation, all such human resource department has to
make all policies that have to be in accordance with all such legal laws that there has to be no
discrimination made on part of the organisation.
Environmental factors: External environment consist of many factors that are helping in
smooth functioning of organisation. They all provide the resources fir smooth functioning of the
organisation.
Above discussed are some of the factors that are affecting the human resource department
and the way they are functioning.
Part 4: Identification and analysis of present core position
Job description: Job description is a basically a document that is used for the purpose of
describing in detail the associate job roles & responsibilities of a particular job position in a

organisation. In present scenario, there is job description of a human resource executive required
in Barclays PLC.
Job Description for Barclays abnk
Job information
 Position: HR executive
 Organisation: Barclays PLC
 The HR department of Barclay Bank has a vacancy of a HR executive.
Roles & Responsibilities:
Designing and making of overall plans for the process of recruitment of employees for various
positions, resolving internal conflicts, orientation of employees, training session organisation
etc.
Key Requirements:
 A minimum period of two years of experience on field of HR.
 Knowledge of application of HR theories and models in making various decisions.
Person specification: It is associated with specific requirement in a candidate that have to be
compulsorily and some that are desirable and can help a employee in getting additional points for
a perspective candidate. Below discussed os the person specification of a human resource
executive in Barclays PLC:
Person Specification:
Person Specification
 Post: human resource executive
 Department: Administration
 Key: This shows the basic requirements as an evidence for post while in the overall
process of recruitment :
(A) : Application form, (I) : Interview, (R) : Role
Attributes Essential Desirable
Qualification &
Experience
 Graduation in human
resource management
 Advanced course in
transformational or a specific

 Post graduation in
management human resource
the specialisation
style of leadership
Skills or
Abilities
 Interpersonal skills and
organisational
 Experience of handling
various conflicting situations
 Experience of working in
human resource department
for at least a period of one
year
 Assessment of perspective
risk and desires of their
workforce
 Skills to handle employee
conflicts and reduction of
resistance to changes taking
place in a organisation.

Recruitment channels:
Recruitment is a process on which a pool of talent is created by a human resource department so
that competent and skilled employees can be hired in Barclays PLC. There are two major sources
that is internal and external sources of recruitment that can be used as mentioned below:
Internal sources of recruitment: In this there is internal transfer of employees from one
position to another to fill various vacancies.
Strengths There is saving a lot of resources that has to be
spending on use of external sources
recruitments such as time & cost efficiency can
be achieved while using internal sources of
recruitment.
Weakness This process offers a very limited availability
of choices for the recruiters.
External sources of recruitment are in concern with sue of sources outside the organisation for
filling of vacant positions
Strengths This method is very helpful in selecting a

candidate with required amount of skills as
only those candidates who fulfil the criteria
actually apply.
Weakness There is requirement of large amount of
financial resources and is a long procedure
sometimes there are many days that have to be
invested in filling of one position by HR
managers of Barclays PLC.
While selecting a employee in Merrill Lynch any of these methods can be used for
getting a detail view of a employees and asses them according to key skill requirements of the
job.
Selection methods:
Selection is referred to as a method that is used for the purpose of hiring and selection of
candidates it come just after the process of recruitment gets over (Nolan, and Garavan, 2016). In
this step there is a detailed screening of a candidate based on their existing level of skills. In case
of Barclays, this screening is done based on capabilities of employee’s that they actually posses.
The basic sources of selection that are used by the human resource department in Barclays PLC
are discussed below:
Interviews: In this process there is selection of a candidate based on asking various direct
questions to employees. This method has certain strengths and weakness that are associated with
as mentioned below:
Strength This method is very helpful in selection of a
suitable Candidate as a detailed analysis can be
done by assessment of their communication
skills, overall personality and how they react in
certain situations of business can be heard
directly by the interviewer.
Weakness This method has a weakness that it is
completely based on the nature and decision of

the interviewer and there is very high chances
that based nature of a interviewer can posses a
impact on the fair procedure of selection of a
employee.
Assessment & selection test it is also a very popular method of selection that can be
adopted by organisations and is commonly used by Barclays PLCs as most of their job position
require a high knowledge base of their candidates so part from their educational qualifications
there is a need to assess their general aptitude and decision making skills with help of a written
test that is designed by senior officials in their organisation.
Strength This method is very helpful in making a
detailed assessment of their candidate or
prospective employees as their general aptitude
can be analysed based on their overall score of
the written test.
Weakness In amount times this method cannot be suitable
if there is large number of applicants so it can
lead to lot of wastage of time, cost and other
resources of Barclays.
Performance management criteria: There are certain criteria’s that are sued by organisations
for the purpose of management of employee performance in every organisation (Mann2018)
(Mertens, . and Wilson, 2018). It is a very important aspects and is helpful in ascertainment of
how and what ways can employee performance be improved. Performance management is
basically a process that is helping organisations in evaluation and continuous monitoring of the
performance accordance with their pre set targets and goals. There are certain measures that can
be used for the purpose of performance management in case of Barclays as mentioned below:
Strategic congruence: It is a level that is used for the purpose of management of a system. In
this the performance of employees are managed and measured based on how much a employee is
making a contribution towards achievement of laid down business objectives. There have been