Case Study On First American Bank

Published: 2021-06-21 23:42:18
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Category: Management, Business, Skills, Workplace, Goals, Employee

Type of paper: Essay

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Introduction
Talent management is a vital process that guarantees organizations have the quality and quantity of a position to meet their future and current priorities. The process includes the life cycle of the employee thus; performance management selection, development and succession .
Talent management program that led to success for the company
For the concerned stake holders and contractors, there are three stages that take place from day one and then midpoint after the first quarter and at the end of that first year. The original phase normally takes one month, and at the end, all the new managers must have mastered the business model and must understand the cultural norms and how to relate with the human resource whose work is to help the manager, state the opportunities to accomplish, enact and identify the roles of the executives (Cantrell & Smith, 2010). Talent management program helps employees to improve their skills and to polish their abilities in the benefit of an organization. It helps in personal grooming as well.
The executives’ current and future business strategies are under stood by the organization Obtaining rational objectives creates integrity that translates into leadership and many people are normally prepared even before assortment and obtainable through orientation and coaching to create a clear path and support mastery. The Human resource must make accurate promotion decisions and hiring
For a talent management to be effective, a plan is designed to identify the key gaps between places then fill all the talent gaps and integrate with strategic business plans. The development consultants present the new managers with strategies, and this led to a successful bank (BELKER, et.al 2012).
Strengths of the program and how they led to goal accomplishment
This plan integrates peer, subordinates and senior executives into reciprocal new leader to culture and culture to new the leader in First Bank of America, vertically and horizontally, upward and downward at the same time. The results depend on the achievability and clarity of short-term objectives (Effron& Ort, 2010). The main strength of talent management program is its short term objectives as they help in motivating the employee to work hard once he sees that his hard work is being appreciated by the management. Employees feel good as their management care about them and is willing to train them more and more in order to improve their skills and abilities. Employees feel motivated when such programs are announced.
For an executive to build credibility and confidence, he deploys on integrate strategic plans. It is very important to integrate the new executives together with the peers under the mentorship of the senior executives who were also cultivated under the same process. This relationship with the senior management and the executives overlaps the new managers’ purview and convey an understanding of organizational complexity within the team (BELKER, et.al 2012).
The facilitated dialog includes leadership development skills in identifying the objectives of the business, priorities and concerns between the peers, the new leaders, staff and superiors, anonym zed face to face non media groups. Executive s who understands their individual goals and how to relate perform efficiently at their work and this boost in the executives’ productivity will lead to increased operating margins and profitability for your company. The executives should take correct Measures of goals to help them execute a talent strategy . The Connections of team goals to corporate goals and individuals are giving clear prospects and reaction to administering performance.
This is a goal already achieved and, the Performance management Creates shared accountability between the employees by "cascading" goals from one employee to another when significant.
Opportunities for improvement in the talent management planning process
The executive communicates expectations in every phase of objective achievement.The multiple stage stake holder orientation culminates of the total over view seen from the CEO’s office viewed within the first months, through the leadership programs that bring all the managers that have two years tenure together for mentoring and networking as well as directing rules and expectations from the CEO’s (John Wiley & Sons, 2009).
. Development of talents enhances great performance in the executive current positions as well as preparedness for his transition to the next level. The executives’ focuses on elements required for a successful execution. Business force and personnel effectiveness measurement during and after accomplishment (Effron& Ort, 2010)
Communication is essential to an organization since it Links the business drivers to the talent management initiative and puts a vision setting expectations for the future of the organization (Effron& Ort, 2010). Every officer must have best communication skills in order to hold the attention of the second person. Every executive has accountability and knows what to do and when to do. The executives Alignment Must align talent management initiatives to the business drivers and should have the right kinds of systems identifying the high potentials, and to diagnose for development, linking to performance management, and to do behavioral development that will surely help them in better performance.
Effective approaches to meet the talent management challenges in the future
In order for an organization to be able to meet the talent management challenges in the future, the human resource should Balance grassroots involvement in talent attraction and retention with the management accountability. In addition, the executive should be aware of the company’s business plans and environment that is; the competitive climate, Known plans for growth and merging.
Nowadays, technologies have great impact on organization’s performance. Technologies, Divestiture, and new products project their impact on immediate and longer-term talent requirements. Executives should Know and understand the factors that contribute to difficulties in attraction and retention thus; based on the initiatives real concerns of Executives, rare numbers on turnover can show where retention problems are but cannot tell what they are, Therefore executives are advised to keep retention factors in balance. Balancing will enable them to keep track and a strict eye on all matters and will help to keep a track of employee’s performance as well.
Conclusion
Talent management is crucial to a business in order for it to be successful and to be maintained. Good leadership from the project managers brings profits to a company and maintains the employees. Human resource that has a wide range of expertise in executive development, global talent management, coaching and executive assessment, learning, staffing, and employee relations, shows excellent leadership. Human resource management is the most responsible department in an organization, so it should perform its duty really well. The officers involved in the department should take special care of everything as their decision holds a direct impact on organization’s performance.
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Reference
Berkun, S. (2008). Making Things Happen: Mastering Project Management. Washigton: O'Reilly Media, Inc.
Cantrell, S. M., & Smith, D. (2010). Workforce of One: Revolutionizing Talent Management Through Customization. North America: Harvard Business Press.
John Wiley & Sons. (2009). Linkage Inc's Best Practices in Leadership Development Handbook: Case Studies, Instruments, Training. washington: John Wiley & Sons, 2009.
Loren B. BELKER, Jim MCCORMICK, Gary S. TOPCHIK. (2012). The First-Time Manager. United States: AMACOM Div American Mgmt Assn.
Marc Effron; Miriam Ort. (2010). One Page Talent Management: Eliminating Complexity, Adding Value. Boston: Harvard Business Press.
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