The talent management at Standard Chartered is unique and it accordingly adapts to the environment in the organization but it does purport to the features of SHRM as well. Banks are based on numbers and they count their success and achievements in numbers as well. Standard Chartered implemented a talent management program to analyze its workforce and also its contribution to the success of the organization. SHRM has three main features organizational level, focus and framework.
Organizational level illustrates the major policies, key goals and allocation of resources of an organization since they support the implementation of the strategy so this feature of SHRM has to be considered on top of all during strategy implementation. Talent management in Standard Chartered was much needed regarding their current position in the market especially with the financial downturn. The talent program at Standard chartered is well tuned with the organizational policies, aims and allocation of resources since they provide a service and for a service organization the most important factor of the marketing mix is “people.” Since talent is limited in the market so the bank aims to build its own people via training. The bank wants to increase its leadership capacity by 2011 which is an aim and the talent management program is assisting in achieving this strategic aim.
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