The talent management program at Standard Chartered aims to manage its human resources in order to meet the strategic business goal that is to develop a limited pool of talent and leadership capacity within the Bank since the availability of talent is limited and existing employees if are talented shall be retained or the rest can be trained. But the underperformers have to be removed and planted in some other profession or what may suit.
Simply placing employees in jobs does not ensure their success. They need guidance to understand their roles and responsibilities. Training helps a person do his/her current job but training has benefits a person throughout the career path and helps to develop a person overall for future responsibilities. The bank has also had an effective recruiting program implemented which is called “Right Start” and this further helps find new talent and achieve the strategic business goals of the Bank. Talent management has helped Standard Chartered create a focus that will assist in achieving their strategic business aims and goals. The Program fits the second feature of SHRM as well and quite appropriately.
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