Description
From the Goldsmith & Carter textbook, select either the Bank of America (Chapter 2) or McDonald’s (Chapter 9) case study for this assignment.
Write a five to seven (5-7) page paper in which you:
- Outline the talent management program that led to success for the company.
- Identify strengths of the program and how they led to goal accomplishment.
- Describe opportunities for improvement in the talent management planning process.
- Create at least two (2) more effective approaches to meet the talent management challenges in the future.
- Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Explanation & Answer
Attached.
Running head: BANK OF AMERICA TALENT MANAGEMENT
Bank of America Talent Management
Student’s name
Institution
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BANK OF AMERICA TALENT MANAGEMENT
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Introduction
Turnover costs are some of the most significant expenses which businesses have to incur
which negatively impact on their profitability. Whenever a salaried employee quit an
organization, the business incurs costs related to recruiting and training the new replacement.
Other than these, the organization tends to incur huge losses associated with loss of productivity
and interruptions of operation during this period. Customers might also fell less valued during
this transition period which could affect the relationship the organization enjoys with the
customers. As a result, most reputable organizations have invested in talent management, a
process which helps them identify the most competent employees, train them, and put in place a
mechanism of retaining them within the organization (Amy Wong, & Sixl-Daniell, 2017). One of
the processes of talent management is on-boarding. In human resource management, onboarding
is the process of integrating a new employee into an organization to adapt to its processes and
culture. Bank of America is one organization that has over the years invested heavily in talent
management. We shall review the executive onboarding process implemented by Bank of
America as part of its talent management.
Talent Management Program at Bank of America
Compared to other large organization, Bank of America continues to record a relatively
low turnover rate at 12 percent compared to other organizations which record an average of 40
percent. To achieve this fete, Bank of America has consistently invested in a robust onboarding
program which is made up of several phases which see new hires accriminated to the processes
and the culture of the organization. The Bank of American executive onboarding program is one
that is made up of a multi-phased approach supported by comprehensive feedback and coaching
mechanisms. With such an approach to ensuring employees are fully integrated to the
BANK OF AMERICA TALENT MANAGEMENT
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organization, the Bank of America on-boarding programs has proven highly effective at both
pre-empting leadership failures and for accelerating the knowledge and relations...
