Project Report: Analyzing Talent Management Strategies at HSBC Bank

This project report investigates talent management strategies employed by HSBC, a leading British multinational investment bank, focusing on attracting and retaining skilled employees. The report is structured into four tasks. Task 1 defines aims, objectives, and conducts a literature review on talent management strategies, challenges, and potential solutions. Task 2 involves small-scale research using qualitative and quantitative methods. Task 3 evaluates research findings and data, offering recommendations based on the analysis. Task 4 reflects on the project's value and the student's learning. The project includes a project management plan, work breakdown structure, Gantt chart, research findings, and a conclusion, providing a comprehensive analysis of talent management practices within HSBC. The report also includes a project logbook and performance review template in the appendix.

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1: Devise aims and objectives for case scenario..................................................................3
P2: Produce a project management plan containing description of different aspects............6
P3 Work breakdown structure and a Gantt chart....................................................................9
TASK 2..........................................................................................................................................12
P4 Small scale research by implementation qualitative and quantitative research..............12
TASK 3..........................................................................................................................................13
P5 Evaluation research and data using appropriate tools and techniques............................13
P6. Appropriate recommendation as a result of data and research analysis.........................23
TASK 4..........................................................................................................................................24
P7 Reflect on the value of undertaking the project to meet stated objectives and own learning
and performance...................................................................................................................24
CONCLUSION..............................................................................................................................25
REFERENCES..............................................................................................................................27
APPENDIXES...............................................................................................................................29
Project Logbook...................................................................................................................29
Performance review template...............................................................................................32

INTRODUCTION
The purpose of conducting this study is to understand the concept of talent management
and their strategies along with challenges that they faced in retaining and attracting the
employees within a business enterprise. Therefore, human resources are very crucial asset for
each and every business enterprise because they are working for attaining targets for generating
more profitable outcomes (Sheehan, Grant and Garavan, 2018). In a firm retaining and
attracting talent helps in building reputation in marketplace due to which firm will survive for a
longer time period and also enjoy productive and proficient results for enhancing company
visibility. Talent management is a full scope essential concept of HR processes that is used to
attract, retain, onboard, motivate high performing employees. The main aim of talent
management is to develop business performance through practices that makes talented
employees more productive. To complete this report, HSBC investment banking company is to
be undertaking that is a leading British multinational investment bank with a total asset around
US $2.984 trillion. In this organisation around 226,059 employees are working in all over the
world where the company has their presence. HSBC was founded on 3 March 1865 with the
motive of offering financial services to clients, business organisation, people etc. This is
possible by hiring talented workforce in working place due to this retaining and attracting talent
is more significant for firm sustainability. This report based on aims and objectives along with
project management plan. It also includes methodology and data analysis that helps in drawing
recommendation and conclusion at the end of project. all this aspects assist in preparing
reflection of whole project work.
TASK 1
P1: Devise aims and objectives for case scenario
Background of the research
This research is based on strategies used by giant businesses in respect of talent
management. In current time talent management strategies are used by every business in order
to satisfy business objectives and to involve employees in vast manner. This research report is
providing specific edge to giant organisation so that to attract and retain talent and to unleash

various opportunities (Boselie and Thunnisse, 2017). For gaining high employee engagement
this is necessary for the business to use talent management strategies so that to minimise such
difficulties from the business. For dealing with various discrepancies talent management
strategies are used within organisations in which objectives can be accomplished in shorter
range of time. With the help of using talent management strategies overall performance can be
improvised which is helpful in enhancing efficacy of the business as well. For HSBC being a
financial sector business their employees are playing front role for the business and these
strategies are helping the business to cover their objectives and business benefits as well. Talent
management strategies are helping the business to get such insights by which overall motivation
can be rendered to employees and resultantly they can be retained within the organisation for
longer period of time. In this manner employee engagement can also be enhanced and in such
aspect overall business development can be seen. HSBC is a British multinational investment
bank and financial services Provider Company which is the largest bank in Europe and
headquartered in London, UK. In order to manage their business and functions the company is
using talent management strategies to wide manner so that to minimise business complexities
and to execute business functions in smooth manner.
Aim
“To investigate numerous talent management strategies undertaken by giant businesses
for attracting and retaining skilled workforce”. A study on HSBC.
Objectives
 To examine various talent management strategies used by HSBC for retaining and
attracting skilled employees.
 To inspect various challenges faced by HSBC while implementing talent management
strategies.
 To explore the ways that can be used by HSBC in order to mitigate challenges of
implementing talent management strategies.
Literature Review

To examine various talent management strategies used by HSBC for retaining and attracting
skilled employees.
According to viewpoint of “Karim Ansari, (2021)”, there are several strategies that are used
under talent management within an organisation. The concept of talent management is about
dedication to doing all them to retain, develop and attracts talent in market. It involves few
talent management strategies that help in selecting right people that helps in flourish
organisation growth and sustainability. Some of them are presented below:
 Offer regular training opportunity- Training to employees is all about increasing
potential for achieving targets in company. It is essential strategy to hold training and
regular meetings with employees for improving the weak areas so that organisation
would enjoy more sustainable results. It helps in attracting and retaining talent for
longer time period.
 Cultivate honest career path- In a business enterprise cultivate a genuine career path is
very tricky because due to this employees feel engaged when they show impression that
sky is limit for them. In this firm offers several essential tools like career advancement
opportunity etc. so that workforce is attracted and retain for more time period.
To inspect various challenges faced by HSBC while implementing talent management
strategies.
As per the viewpoint of “Andre, (2021)” talent management in an organisation faces several
challenges that are presented below:
 Unappealing company culture- It is one of major challenge that was faced under talent
management in organisation like HSBC. If an organisation culture is unappealing that is
stick working schedule, one way communication policy etc. than it creates an
atmosphere of employee turnover.
 Lack of leadership- It is another challenge that is faced under talent management of
HSBC Company. Lack of leadership creates problem related to conflict arising, not
understanding the vision clearly etc. due to this employees are facing trouble in
managing task and attaining profits that creates employee turnover.

 Higher total compensation demands- This is a major challenge in a company talent
management department. If employees are feeling that they cannot received fair
compensation for their productive work than they create dissatisfaction among
employees. Due to this more and more employees are focus on leaving organisation and
it affects company profitability and sustainability for a longer time period.
To explore the ways that can be used by HSBC in order to mitigate challenges of
implementing talent management strategies
According to “Top Echelon, (2021)”, viewpoint several ways are to be presented for
business organisation in overcoming challenges that was highly faced by company in relation to
manage talent in terms of attracting and retaining them. These are discussed below:
 Work with effective leadership- It is a crucial way of overcome challenge that was
faced under HSBC in their talent management department. Effective leadership
managing employee needs and requirements so that they are satisfied with firm policy.
It helps in attracting and retaining talent for longer time period.
 Friendly culture- in terms of overcoming challenge related to employee turnover and
low attraction of employee it is very essential to adopts friendly culture at workplace
where every employee are working in team due to which task are attained on time. It
also creates reputation of human resources and company in marketplace.
P2: Produce a project management plan containing description of different aspects
The project management is defined as such road map which is associated with various
steps which are being followed with project in order to deal with and fulfil major requirements
as well (Maamari and Alameh, 2016). Project management plan is outline of such strategies
which are going to take place in project and helps the researcher to attain objectives in
prominent manner. The project management plan is accumulation of such activities which are
being used within a project and leads to its succession. With the help of project management
plan this is easier for project manager to eradicate barriers and deal with succession as well.

The major aim of the project is to reach out to its objectives so that with the help of project
management plan this could be easier to accomplish objectives in most smooth manner. There
are various constraints of project management plan which are elaborated as under:
Time: Time is categorised as such aspect which is helpful aspect in the project to get
finished in significant time and efficacy. This is an essential aspect which could assist the
project in gaining differential benefits so that delays can be avoided. With the help of deciding
such timelines discrepancies can be avoided within project and coming barrier can be
eliminated. Timelines is defined as such date of completion of project which is assigned prior to
starting to the project. There are different processes which are involved in the project so that
time for each activity is being allocated prior to initiation of the project so that risk and delays
can be avoided. Time within a project is association of such activities which helps the he
project to attain its aim and objectives in optimal manner. For completion of this project 50
days are being taken.
Cost: Cost is another aspect of the project which is regarded as the major element of
project management plan. In this calculation of overall expenses are done so that all the
activities in most effective manner. This helps the researcher to manage all the activities in
equal manner so that control can be rendered over the same and research activities can be
carried out for attaining its objectives in smooth manner. Cost is defined as that amount of
money which is needed in order to finish particular project in most significant manner in which
objectives can be attained. This is regarded as such constraint which lead the project to cover all
those significant areas which are required for gaining edge within project and to attain its
primal objective in order to achieve path of succession. In order to complete the current project
£800 is taken as sum of money which is sufficient to deal with all the objectives and to finish
the project in given time frame.
Quality: Quality in a project is defined as such tool which is dimension and helps the project to
maintain its standard in appropriate manner. This helps the researcher to manage various
dimensions at once so that process of project execution can be made easier and effective as well
(Iles and Preece, 2016). In order to manage standards within project appropriate quality
standards are required to be introduced and all the working should be adhered to these standards
so that with the help of up-keeping higher quality standards project objectives can be attained.

By maintaining higher quality within project various discrepancies can be eliminated and in this
manner all the efforts put by researcher can be used to attain research objectives in prominent
manner. There should be no scope of compromising over quality as this is the only way to
accomplish objectives in desired manner and time.
Scope: The project scope is defined as the area of research in which future gain can be
exerted to various people so that to assist them in obtaining knowledge. In the context of
current research as this is based over examining talent management strategies which are used by
giant businesses so the scope of this study is associated with developing knowledge regarding
talent management and its implication in various businesses and industries (Butt, Naaranoja,
and Savolainen, 2016). This study is going to assist various SME’s that using these types of
talent management strategies may lead them with higher amount of success and market
prominence as well. Scope within project provides greater insight to the project so that overall
objectives can be attained. With the help of implicating project scope in most significant
manner this may lead to acquire prominence within project in sufficient manner.
Communication: Communication is the integral part of the project which helps to send
different messages to all the associated parties with in project. Communication plays vital role
in meeting objectives in such a way that various discrepancies and confusion can be eliminated.
With the help of effective communication this will be easier to convey such messages to
various parties which are related with research. When communication is appropriate chances of
errors and challenges may be minimised in which higher efficacy can be maintained. Proper
communication channels help in dealing with project objectives in such a way that all the
efforts can be utilised in dealing with the project in most effective manner. Under this research
communication is playing significant role in developing aspects in relation to supervisor,
project manager and other parties associated with this project.
Risk: Risk is something which is not predictable in nature and may hamper succession
opportunities of a project. In the presence of higher risk chances of project failure may be
increased due to which all rendered efforts may be wasted. Risk is not regarded as positive
insight which is advantageous for the project so this is required to put such preventive measures
which could lead the project to attain its aims and objective in smooth manner. Risk
management is a backup plan which is covering all those unplanned objects that may provide

adverse impact on succession of the project. In such case when risk is not identified on timely
manner this may lead wasting of such efforts and resources. So in order to attain higher success
in project this is imperative to have risk management on prior basis.
Resources: Resources are defined as such essential component of research project
which helps the management to plan and organise various activities in such manner that using
such efforts project objectives can be attained on timely manner. Under this an appropriate
resource plan is required to be prepared in the initial stage of project so that various activities
can be exerted in most effective manner. When resources are utilised in fuller manner then
chances of project succession may increase and due to which without facing any delays
objectives of the project can be attained.
P3 Work breakdown structure and a Gantt chart
Work breakdown structure
The WBS is regarded as a structure which is used within project in order to divide each
and every activity in most possible parts so that overall attainability of objectives can be
enhanced. With the help of WBS, this can be easier to focus on every activity and finding out
ways to finish the same. In the context of the current project as this is associated with talent
management and its strategies used within HSBC so using WBS this project may be divided
into various parts and leads to the same into succession opportunities. By breaking down the
project into smaller activities this will lead into developing and attaining project aims in most
effective manner (Zecheru and Olaru, 2016). For HSBC, WBS is having wide role in gaining
project objectives in most accurate manner so that each activity can be understood by every
single person associated within project in direct or indirect manner. For HSBC WBS is
explained as under:

Gantt chart
A Gantt chart is defined as a tool which is used to set timeline to various activities and
in this manner completion time for each activity. This is a helpful tool which could lead to trace
various activities in appropriate manner so that various discrepancies can be analysed which are
causing delays in project and creating challenges in project as well. In the context of HSBC and
the current project Gantt chart is elaborated as under:

TASK 2
P4 Small scale research by implementation qualitative and quantitative research
Research is a deep dive systematic process consisting of several activities such as data
collection, data analysis, data interpretation and data documentation. Effective execution of all
these activities is required to ensure that overall objectives are attained. It is necessary for gain
of research that all the steps are adequately followed so that appropriate conclusion can be
achieved. Below described are two common methods of research:
 Qualitative Research: This is a non-numerical method of research carried on with a
purpose to sum information in scattered way. In this, ideas and logics of a single person
are collected in form of words (Aspers and Corte, 2019). This research is mostly used to
understand experience of a person and his ideas so that effective conclusions can be
derived. Open-ended questions and observations are methods of conduction qualitative
research. HSBC generally doesn’t follow this method of research as it is considered time
taking and may lead towards misrepresentation of data certain times.
 Quantitative Research: This is reciprocal of above method were numerical data is
collected by researcher with the purpose of presenting and analysing the same using
various statistical techniques and mathematical questions. This research is generally
conducted with close ended questions to gather numerical data and conclude (Samii,
2016). With context of this current research, project quantitative method is followed by
asking set of questionnaires to ensure errors are reduced and subjectivity as well. The
research is with respect to knowledge regarding talent management with objective of
attaining overall knowledge gain through quantitative research.
 Data Collection: It is process of gathering and collecting data from various sources in
required format and manner so that goals set can be achieved. Data collection can be
divided into two parts I.e. Primary and Secondary both of which are highly accurate and
lead to knowledge gain. In this research both methods of data collection are used for
HSBC. In primary collection, questions are directly asked to respondents and they form
basis of conclusion whereas secondary method contains magazines, publications, and
articles are used to draw information that assists in forming conclusion based on
primary information (Flick, 2018). These methods help in achieving efficiency in data