The paper “ The Impact of Human Resource Management on Organizational Performance” is a spectacular example of the assignment on human resources. The standard chartered bank approach to talent management displays the features of the Society for Human Resources Management. Just like the Society for human resource management which uses hard data to drive its process the standard chartered bank human resource team knew that the process of talent management in that financial institution can only be achieved through the availability of hard data. The need to avail of any figures and facts was the main feature of the principles it adopted in order to initiate any proposed talent management activities.
The next feature is the establishment of a talent management program that functions on the foundation of detailed information. This information contained in its data files is about the word wide workforce that is analyzed office by office, team by team from all the continents where the bank has its operations. The information is very crucial because it helps managers in defining the type of employees under them in order for them to channel resources to help where necessary.
(Dyer and Reeves, 1995). This is the case with the society for human resource management which advocates for the fact that resources should be allocated to employees who seem to lag behind in order to make them move at the same speed with others. This should be done by training those employees. The SHRM similarly believes that talent management is an important issue that faces many human resource managers in their workforce. In its pursuit to accomplish comprehensive talent management, the financial institution applies the principle of the SHRM of defining as a talented employee as an individual who has the capacity to bring about a significant difference both to the current and the future performance of an institution.
Five key areas are addressed by both the financial as well as the SHRM in the quest for the need to have an inclusive talent management program. These are, attracting talent, developing, spotlighting talent, averaging talent, and strengthening the talented organization. The issue of attracting talents is one of the most challenging features of any organization.
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