A Role of Talent Management in MCB Bank Pakistan Ltd

By

ABSTRACT

Talent management has become an integral part of any organisation's strategic priority. Talent management can be defined as an effort to making an investment on employee development, by identifying productive individuals to develop for future roles in the organization. The process of talent management is very important for a company because it enables a company to attract and retain key employees in the company and reduce their employee turnover costs. In this research study, we have studied the role of talent management at MCB Bank Pakistan Ltd through interviewing fifteen managers from MCB Bank Ltd. We have studied the importance of talent management in MCB and the process through which they manage talent in the bank and develop their employees.

ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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TABLE OF CONTENTS

ABSTRACTII

ACKNOWLEDGEMENTIII

DECLARATIONIV

CHAPTER 1 INTRODUCTION1

1.1 Introduction1

1.2 Problem statement2

1.3 Research questions3

1.4 Significance of the study3

1.5 Rationale of the study4

1.6 Limitations of the Study5

1.7 A brief profile of MCB bank Ltd Pakistan5

1.7.1 Company overview5

1.7.2 Key facts6

1.7.3 Major products and services6

1.7.4 Top Competitors7

CHAPTER 2 LITERATURE REVIEW8

2.1 Managing talented employees8

2.2 Impetus for Change in Talent Management9

2.3 Talent Management10

2.4 Assessing Organization Talent Needs10

2.5 Sourcing, attracting, recruiting talented people11

2.6 Sourcing Talented People11

2.6.1 Competency-based Person Specifications12

2.6.2 Recruitment and Selection attracting and staffing the right talent12

2.6.3 Competence-based Approach to Recruitment and Selection12

2.7 Development of Talent13

2.7.1 Leadership Development13

2.8 Talent Development Strategy14

2.9 Employee Retention15

2.10 Succession Planning and Talent Management17

2.11 Knowledge management19

2.12 Performance management system20

2.12.1 Uses of Performance Appraisal Systems20

2.12.2 Fairness of Appraisals21

2.13 Retention Management23

2.14 Theoretical Overview of Career Development26

Self-Efficacy Theory28

CHAPTER 3 METHODOLOGY30

3.1 Introduction30

3.2 Research tool utilized30

3.3 Justification of research tool31

3.4 Participants of the research32

3.5 Overview of Qualitative and Quantitative Research Approaches32

3.6 Overview of the Mixed Method Research Approach34

3.7 Benefits and Disadvantages of Mixed Method34

3.8 Informed Consent35

3.9 Confidentiality35

3.10 Reliability and Validity36

CHAPTER 4: DISCUSSION AND ANALYSIS37

4.1 Interview analysis of MCB managers37

4.1.1 Knowledge management in MCB employees38

4.1.2 Extending the employee-employer relationship at MCB39

4.1.3 Performance assessment and management at MCB Bank40

4.1.4 Career development at MCB44

4.1.5 Talent management by MCB Bank Ltd49

4.1.6 Human Resource as a competitive advantage in MCB52

CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS55

5.1 Recommendations55

5.1.1 Growth and Development Opportunities55

5.1.2 Attracting and Retaining Talent56

5.1.3 Compensation and Incentives57

5.1.4 Promote Wellness and Self Care57

5.1.5 Coaching and Mentoring Program58

5.2 Conclusions58

REFERENCES61

APPENDIX A: INTERVIEWED MANAGERS PROFILE68

APPENDIX B: INTERVIEW QUESTIONNAIRE69

CHAPTER 1 INTRODUCTION

1.1 Introduction

Talent management is the process that develops and incorporates new members into the workforce, and also develops and retains existing human resource. Talent management in this context, refers to the management of the show. Talent Management primarily seeks out those with high potential, understood as talent within their workplace. Also retain or attract talented people is a priority. David Watkins coined the term in an article published in 1998. The process of attracting and retaining productive employees has become increasingly competitive among companies and has strategic importance than many ...