Page 35 - Banking Finance February 2022

ARTICLE

Capital Management initiative, emphases talent to achieve the maximum output the Indian banking system
management and much more understanding and should follow the following talent management practices.
executing the day to day activities of recruiting,
leadership development, strategy creation find career Talent management practices:
management are essential for successful and smooth 1. Employer branding - The first practice of the talent
running of the banking system.
management is employer branding which means having
a strong brand attracts even the best candidates.
In order to win the war on talent management the banking
sector needs to focus on the talent management strategy 2. Employer reputation - Reputation is related to employee
methods: branding which is more affected by external media.
1. Talent management metrics 3. Candidate experience - The experience of the
The talent management metrics is helpful as it enables candidate influences the employ brand.
us to measure the progress with the aspiration of the 4. Selection - Spotting in selecting the best is a critical part
organization by keeping a track of what we are doing, of talent management.
how well we are doing it.
5. Referrals - Talent referral programs are affected as they
2. The HR talent management model help to pick up candidates
The banking system sector needs to analyze that being 6. On boarding - Getting people up to speed as quickly as
a top employer requires substantial investment. This possible helps to make them more productive.
can be effective especially when you want to attract
7. In boarding - When people are promoted internally they
people from all kinds of background so the talent also need support to achieve maximum productivity.
management model serves as a helpful tool as it enables
the banking sector to map the specific activities that 8. Engagement - Engaged employees are motivated,
you want to focus on. perform well and are likely to stay.
9. Retention - Retention strategies help to keep the best
3. Beat the competition people on board.
The banking system needs to understand that beating 10. Performance management - An essential part of
a competition can be achieved through better employer managing talent is tracking and improving their
branding, retention, selection etc.
performance.
4. Requirement of capabilities
The purpose of talent management in the banking system
The Indian banking system has to focus on enhancing
the hidden talent of their employee and match them to identify, recruit and hold on to people who drive the
with the organizational goals. success of your organization. It's a top priority of the
management of the banks to carry out the strategic process
5. The key performance indicators for forward-looking people. Banks who understand that their
The final method is about tracking progress and performance depends on their workforce. Performance and
ensuring the further improvement. The key talent management becomes a key function of the modern
performance indicator enables us to judge and evaluate HR department of that Bank. The management goes out
exact performance of the employees. to nurture and develop the talent that powers their growth
and effectiveness.
The goal of talent management is to establish an
organization which is high performing and sustainable, which Talent doesn't only mean individual high performers; it can
meets the strategic and operational goals and requirements also be people whose behavior and characteristics are
of the company. Talent Management is in a way a business particularly influential in motivating and empowering their
strategy which needs to be integrated with all the employee colleagues. Collaboration and social skills can be as
related processes of the business. Talent management is all important as intellectual caliber or productivity. The Banks
about having the right person at the right place at the right should focus on creating a working environment that
time for the optimum time and at the right price. In order responds to and rewards talented employees, so they will

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