Unique Approach to Talent Management and Development
OCBC has strong talent management and development programs known as the ‘Career Best’ program and the ‘OCBC Learning-3’ program. This plan is based on the belief that human capital is its competitive advantage as the development of its employees results in greater performance. Within the first three days of recruitment, employees are required to open corporate accounts with their employer (Prandey, 2015). Learning is integrated into the organization's strategy as employees are directed to take control of their growth. The 'Career Best' program includes assisting members of staff with the evaluation of their strengths and the direction of their careers, this, in turn, assists employees in identifying the best way of integrating their capabilities and the needs of the organizations (Prandey, 2015).
The 'OCBC Learning-3' program is a three-year program for the members of staff. It clearly described strategies through which every employee can learn within the first three years within the financial institution. An OCBC academy has been structured, and the program is conducted within an entire floor of the organization, which has also been named as the 'OCBC learning centre'. This includes an integration of traditional classroom training and the use of learning technologies such as eLearning and virtual classrooms. Staff members also gain information on ways of learning and applying for new positions. After 18 to 24 months within the program, employees have the opportunity of moving on to other roles (Prandey, 2015). Through this, the firm is able to support its employees in the continuous acquisition of new experiences, skills and capabilities.
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Comparison to Other Organizations
The bank's training has a differentiated approach to other organizations as concerning their talent and development program. The OCBC banking system has some varying components and practices when compared to other firms. Among the distinctions of the firm's talent and development program when compared to other programs is the level of commitment that the firm has to its employees. The bank ensures that within three days of the recruitment of employees, their development process is started. Furthermore, the bank also provides its resources to support the growth of its employees. The bank also uses an integration of three separate programs to ensure that the members of its staff are developed to the fullest extent. Another major distinction of the bank's approach is the length of its training and development program. The 'OCBC Learning-3' program takes part in a period of three years (Prandey, 2015). This shows the significant commitment that the bank has to the development of its employees. A process that takes three years to be complete while also taking up an entire floor of the organization requires considerable determination from the management of the organization. This shows the intention of the bank to not only enhance its performance and assist in the career orientation of its members of staff.
Contribution to Success
The organization’s talent and development programs have significantly contributed to the firm’s growth and success over the years. Through the different programs, the bank’s employees are exposed to a variety of skills and capabilities across the firm. This includes being cross-trained through movement to a variety of department. Through the programs put in place, employees within the organization have gained considerable experience and variety of skills which has supported their ability to considerably perform their tasks (Jain et al., 2019). Furthermore, the presence of several talent and development programs facilitates a significant level of motivation in employees. When employees identify the concern and contribution of the firm towards their professional development, they will be more inclined to conduct their tasks efficiently (Jain et al., 2019). This efficient completion of tasks is mainly due to the belief that the firm cares about them. Hence, through these programs, the bank not only enables employees to possess the necessary skills to have a higher degree of performance but also motivates them to perform better.
Application to other Organizations
The strategy utilized by OCBC for the development and management of talent can be easily applied in other industries as it exclusively based on the employees (Jain et al., 2019). On the other hand, due to the commitment required, the OCBC talent and development program may not be easily applied to other organizations. As already stated, the bank has invested considerable resources and effort towards developing its human resources. However, not most organizations would want to practice the development of its human resources to this degree and would choose to avoid the associated expenses. While most organizations are interested in improving the capabilities and knowledge of employees, not all organizations have the same level of commitment as showcased by the OCBC bank.
Recent Performance
Aside from the development and management of talent, the HR department at OCBC has also been effective in its recruitment methods. The bank has a well-structured recruitment policy which has its focus on quality and other factors such as the diversity of its workforce (Murti, 2019). This has enabled OCBC to become a dominant player within its industry due to the recruitment of a well-designed workforce.
Conclusion
OCBC bank has a unique talent and development plan that revolves around the members of its staff. This plan is focused on addressing the individual needs and interests of every employee while also aligning them with the existing business objectives. The overall success of the bank indicates that this plan has been critical for enhancing the experience and capabilities of the employees, along with its growth.
References
Prandey, S. S. (2015). Putting the ‘person’ in personnel. Retrieved from HRM Asia: http://www.hrmasia.com/content/putting-person-personnel
Jain, S., & Ahuja, S. K. (2019). Impact of Human Capital Management Practices on Employee Job Performance. In Proceedings of 10th International Conference on Digital Strategies for Organizational Success .
Murti, A. (2019). THE PERFORMANCE IMPROVEMENT OF OCBC NISP BANK'S TRADE OPERATIONS DIVISION EMPLOYEES: APPLICATION OF ANALYTIC NETWORK PROCESS METHODS. JHSS (JOURNAL OF HUMANITIES AND SOCIAL STUDIES) , 3 (1), 15-21.
