Oversea-Chinese Banking Corporation Talent Management and Development – Case Study Example

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The paper "Oversea-Chinese Banking Corporation Talent Management and Development" is a delightful example of a case study on human resources.   An Oversea-Chinese Banking Corporation (OCBC)  has laid a lot of emphasis on training and development of the capacity of its employees. The bank had developed several programs through which employees can learn different things  in regard to  their work and thus help them improve their careers. The bank created a learning center called the  OCBC  Learning Academy with the aim of enhancing learning and talent development for employees. The bank has dedicated a whole floor for learning and capacity development (HRM Asia, 2012).

At the  OCBC  learning academy, there are two major programs that employees have to undergo. These are Career Best and  OCBC  learning-3 programs. The Career Best program  curriculum created  to aid employees under the program to know their strengths and then relate these strengths and their talent to the bank’ s objectives.   OCBC  learning 3 programs aim at  assisting employees to  establish  a clear roadmap of their working for the bank in their first three years of work at the bank (HRM Asia, 2012). After finishing modules in the training programs, employees are  given the opportunity  to switch between departments so that they can explore their talents.

This makes the bank’ s talent development programs  very unique from other organization’ s talent development programs. (HRM Asia, 2012) states that this allows employees to stretch their talents to full potential. Question B Bank of America (BofA) is a bank which  was established  in the USA has now expanded to over 40 countries. It has a program to develop talent based on its three core beliefs (Carter, 2012). These beliefs include individual ownership and global consistencies. The talent development program runs  for one year and coaches high potential employees  to be  senior leaders of the bank (Carter, 2012).

  The program educates the participant on ways of being consistent in achieving goals of the bank globally and how to adapt to different business cultures. The program also provides a simulated assessment to the learners to help them to know  their strengths. The approach used by  OCBC  in talent development and management is well structured and has a greater impact in comparison to the approach used by  BofA. This is because the  OCBC  talent development approach is inclusive of all employees. It also has different timelines  whereas  the  BofA  approach is selective and only runs for one year.

Question C The approach  Oversea-Chinese Banking Corporation  has used  to develop the talent of employees has been a major contributor to the bank’ s success over its rivals. The talent development programs under  OCBC  have helped employees to know their strengths and how to use these strengths in achieving the organization’ s goal. As a result, it has, in turn, led to more focused efforts by employees in their various roles at the bank since the employees now know their responsibilities better.   The talent development programs have led to innovation by employees that  have assisted the bank to  achieve  its targets (HRM Asia, 2012).

Job rotation under the talent development programs at  OCBC  has contributed  significantly  to making the bank successful for the last decade. This is because it allows people from different departments to bring in new ideas that can solve other departments challenges. Job rotation has also increased cohesion among employees (HRM Asia). The talent development programs at  OCBC  have also led to low employee turnover rate. This is because these training programs have improved the capacities of employees and thus they feel entitled to give back to the organization by offering efficient services.

Talent development programs, however, have not been the only key  factor  for  OCBCs  success. Other factors that have contributed in some way to  OCBC’ s success include better employee  remuneration, acquisition of smaller banks and entry into foreign markets. OCBC has acquired some banks and merging with other financial institutions (Tan, 2013). This has led to an expansion of the bank locally thus strengthening its regional presence. Entry into foreign markets has contributed to the bank’ s success by increasing the customer base of the bank. This has increased the amount of savings and deposits in the bank.

Use of technology in service provision to customers has given the bank an edge over its rivals (Rowley & Benson, 2004). Question D OCBC  talent nurturing approach  can be  implemented in various other industries including in non-financial industries. However, in some industries such as in the manufacturing industries, some of the practices under the OCBC  approach are not  viable. Practices such as job rotation are not easy to  implement  in some other industries.     Therefore, the talent development approach requires  modification  to fit such industries (Rowley & Benson, 2004).

Failure to  modify  the talent development approach as implemented at  OCBC  can lead to the production of substandard goods in manufacturing industries. Question E OCBC  has  excelled  in different facets of the financial sector in recent years. The bank  was named  the strongest bank in the world in 2012 (HRM Asia, 2012). The bank has already been awarded more than seven awards in the year 2014 for its excellent services in supporting  SMEs, Islamic banking and in providing different financial solutions. The success  is attributed  partly to the human resource management strategies employed in the bank (Tan, 2013).   OCBC  has continued to develop the talent of its employees in its different branches by offering online courses and simulated learning.

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