The Approach to Talent Management at Standard Chartered Bank

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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…show more content…
Planning 5. The organisation has a plan with clear aims and objectives which are understood by everyone. ‘people aren’t told how they’ve been classified’ Fact is that Standard Chartered has a plan that everybody knows but they do not reveal the outcomes of their plan. 6. The development of people is in line with the organization’s aims and objectives. One big aim of Standard Chartered is the global scope. The TM program is aligned with the cultural characteristics in every country (360-degree feedback in Africa, 180-degree feedback in China) 7. People understand how they contribute to achieving the organization’s aims and objectives. Every employee knows the philosophy: If you play to your strengths you contribute best to the company’s success. Action 8. Managers are effective in supporting the development of people. The managers are free to decide locally how to use the provided tools best. ‘None of this would have been possible without management support – and this goes right to the top. Chief executive Peter Sands says that one of the most personally rewarding things he has done in his own career is to help talented people realize their full potential.’ 9. People learn and develop effectively. If people are rightly categorized and thus get individual support and in addition play to their strength it is

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