Talent Management in Fbn

In: Business and Management

Submitted By burnish
Words 1679
Pages 7
The continued success of any organisation depends on its ability to source, recruit, select and manage high quality staff at all levels (Djabatey, 2012). Ensuring that banks can recruit and retain qualified staff is somewhat a challenge due to the increasing difficulty in recruiting employees with the appropriate competence-organisational fit, and competition for key personnel by other national and international agencies. One approach to overcome this challenge is for banks to possess effective resourcing, recruitment, selection and human capital management framework which is quick and cost effective (Kleiman, 2005). Implementing the right framework would allow banks to review, select, build and retain the best competence in candidates thereby affording them with a workforce that can give them competitive advantages. As such HR departments have become important organisational components due to their function of recruiting, developing, and retaining quality staff (Fischer et al., 2004).

1.1 Scope
This report highlights the five step talent strategy of First Bank Nigeria (FBN) PLC, the effectiveness of the sourcing and talent management strategies, and recommendations that will potentially increase the outcome of the process.
2.0 Talent Management
Wellins et al., 2009 define talent management as a critical process that ensures organisations have the quantity and quality of people in place to meet their current and future business priorities. Therefore talent management strategies focus on five primary areas: attracting, selecting, engaging, developing and retaining employees (Lockwood, 2006).

2.1 FBN Talent Management Strategy
A talent-powered bank is one that sees workforce talent as the primary engine for sustained, competitive advantage. It's a bank that can take methodical and relentless steps to translate business strategy into talent…...

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