Essay on The Approach to Talent Management at Standard Chartered Bank

7887 Words Mar 27th, 2011 32 Pages
1 Section A
1.1 Question 1
1.1.1 Personnel, human resource management and SHRM
If you want to evaluate Standard Chartered’s approach to talent management (TM) in relation to strategic human resource management (SHRM) you first have to clarify the terms related to this area such as: personnel, human resource management (HRM) and SHRM.

‘Human Resource Management is a distinctive approach to employment management which seeks to obtain competitive advantage though the strategic deployment of a highly committed and capable workforce, using an integrated array of cultural, structural and personnel techniques.’ (Storey, 1995, p.5)

Bratton and Gold argue that: ‘Human resource management is a body of knowledge and a set of practices
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1.1.3 Standard Chartered’s strategic approach to talent management
The Investors in People (IiP) organisation developed a model that can be seen as an essential feature of SHRM. The model measures the degree of learning and development of staff in order to achieve the business goals through 12 indicators. With focus on talent management the IiP Standard is applied to Standard Chartered in Figure 1. Figure 1: The IiP Standard applied to Standard Chartered's talent management
Principles Indicators Evidence in activities of Standard Chartered
Commitment 1. The Organisation is committed to supporting the development of its people. ‘Standard Chartered started revamping its talent management activities a few years ago’ 2. People are encouraged to improve their own and other people’s performance. People are categorized from ‘Hipos’ to underperformers which creates a big competition of being one of the ‘Hipos’. Therefore people are not encouraged to improve other people’s performance. 3. People believe their contribution to the organisation is recognised. The case study does not provide sufficient information to accurately evaluate this. The feedback conversation could be seen as a medium where their contribution is recognised and rewarded. 4. The organisation is committed to ensuring equality of opportunity in the development of its people. Standard

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