We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

On-Boarding Invervention in Bank of America - Case Study Example

Comments (0) Cite this document
Summary
On-boarding Intervention in Bank of America Name: Institution: ON-BOARDING INTERVENTION IN BANK OF AMERICA The Bank of America is a financial services and multinational banking corporation, which has its headquarters in North Carolina, in the city of Charlotte…
Download full paperFile format: .doc, available for editing
Polish This Essay95.8% of users find it useful
On-Boarding Invervention in Bank of America
Read TextPreview

Extract of sample
"On-Boarding Invervention in Bank of America"

Download file to see previous pages Its 2008 Merrill Lynch acquisition made it the largest corporation in wealth management in addition to making it a crucial player in investment banking. As of 2009, it held at least 12.2% of all US bank deposits. Its main competitors are wells Fargo, JP Morgan Chase, and Citigroup. As well as operating in all 50 states, it its retail banking footprint covers at least 80% of the United State’s population and serves up to 57 million consumers. The premise of this paper is to study the Bank of America’s talent management program that has a vital part to play in the bank’s phenomenal success, identify its strengths, how it can be improved, and finally to suggest other effective approaches to meet future challenges. In today’s corporate market, the bank of America probably has the best approach to on-boarding, its main form of executive talent management (Goldsmith& Carter, 2009). This has led to a 12% turnover in hiring of executives, having fired 24 out of 196. Some higher corporations have a 405-turnover rate for hiring. The program is designed to aid just hired executives in learning facility, build, and leverage relationship networks for company initiative implementation and career success. On taking the job, the executive, is faced with three dilemmas: mastering a demanding ad complex role, high expectations, and a high derailment probability. On-boarding interventions are underpinned by fundamental assumptions (Goldsmith& Carter, 2009). The baseline assumption contends that it occurs over time that is, specifically in the executive’s initial 12-18 months. Interventions occur at given intervals in the 12-18 month period, not the first couple of months on the job. The on-boarding also should be supported via multiple resources, that is, stakeholder resources. Finally, these interventions are dependent on the stakeholder- executive interaction. On-boarding consists of four major phases. The first is the selection phase, which consists of the selection process. At the Bank of America, cultural fit and leadership ability are added dimensions to the usual criterion of experience and expertise. The HR function thus gives added attention to its executive search firm’s partnerships to avoid derailment of executives lacking cultural sensitivity, interpersonal skills, and leadership ability. The bank’s leadership development partner assesses the candidate’s leadership approach, team value, and cultural fit. The LD partner then formulates questions for the interviewers that provide insight into the misfit or fit potential of the candidate into the bank’s culture, and their leadership credibility. On hiring, the candidate is given the interview questions and answers, though the feedback source is kept anonymous. The LD partner acquires a calibrated and clear job specification supported and spelled out by the stakeholders about what is required for the job (Goldsmith& Carter, 2009). The next phase is the entry phase. The first few weeks are critical for the new executive. He or she must complete four outcomes: develop specific business acumen for the role, learn the culture of the organization, master leadership demands of the role, and build relationships critical to the organization. In order for these demands to be met, three intervention categories are utilized. These are support and coaching, operational forums, and processes and tools. There are three primary givers of support and coaching; the LD collaborate, HR generalist, and hiring executive. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“On-Boarding Invervention in Bank of America Case Study”, n.d.)
On-Boarding Invervention in Bank of America Case Study. Retrieved from https://studentshare.org/management/1449150-bank-of-america
(On-Boarding Invervention in Bank of America Case Study)
On-Boarding Invervention in Bank of America Case Study. https://studentshare.org/management/1449150-bank-of-america.
“On-Boarding Invervention in Bank of America Case Study”, n.d. https://studentshare.org/management/1449150-bank-of-america.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Bank of America
It has it’s headquarter at Charlotte in North Carolina. The Bank of America principally functions in the United States, the Latin America, Canada and the Europe and employs over 288,000 people throughout the world (Data Monitor, 2011) The Bank of America caters the requirements of individual clients, small business organizations as well as large business corporations with a variety of banking and financial services.
8 Pages(2000 words)Essay
Empowerment Strategies in the Service Sector: Bank of America Corporation
Within the human resources field, there is a broad definition in the provision of services. Every company in the service sector always manoeuvres to meet the needs of people via a knowledge base that is interdisciplinary. For instance, the managers of such companies have often focused on preventing and citing problems before they surface up fully, besides carrying out good maintenance of commitment to the improvement of the quality of service from their staff.
6 Pages(1500 words)Case Study
Umpqua Bank
Also, the unique management strategy of the President and CEO, the incentives to employees as well as the approach that the company used to maintain their partnership with people and other financial institutions were also presented. This paper aims to present an analysis on the President’s/CEO’s visions for the company, the prevailing culture within the company’s organization, factors that helped shape and accomplish their goals, and the strategies used in the expansion of the company.
4 Pages(1000 words)Case Study
Barclays Bank
In the year 1736 James Barclay became a partner in the business and this where the organization derived its name and was known as Barclays since then. In 1895 there was a merger between a number of banks which were all ran by different families. The main reason for the merger was that they feared the competition that was coming and saw a possibility of a take over from the larger banks especially the joint stock banks.
5 Pages(1250 words)Case Study
Bank Failure
What caused this crisis is an issue of significant importance however; question also arises as to whether such crises were predicted by different pieces of literature produced prior to the crisis' Tracing the history of bank failure and the subprime mortgage crisis, it will be evident that the era after 1970s resulted into the de-regulation of the economic system of the modern world which minimized the role of governments into the affairs of the markets.
7 Pages(1750 words)Case Study
HSBC Bank Development
The company prides itself as the "World's Local Bank" and uses the words in all its sites. Throughout its long history, it can be seen that it was one of growth through banking strategy, innovation and acquisitions and only the major setback to the bank happened during World War II.
9 Pages(2250 words)Case Study
(Bank) Case study
Rather than attempting to hold onto older modes of customer service, it is recommended that the bank embrace these new cultural shifts. In these regards, customer
2 Pages(500 words)Case Study
Bank of America
Currently, the bank employs about 267,000 people. Brian Moyniham is the current Chief Executive Officer of the bank. BOA is a leading financial institution in America’s Small Business Administration (SBA) program. They provide an extensive
5 Pages(1250 words)Case Study
Commerce Bank
Over time, other competing banks have adopted Commerce Bank strategies of wooing the customers. The Bank has developed retailtertainment strategy as a way of further differentiating itself from its competitor.
3 Pages(750 words)Case Study
Country report on the monetary policy of a central bank in the UK
Researcher contrasted the UK financial scenario during the post 2008 recessional period. Moreover, different factors like the redundancy, credit market fluctuations and inflation of cost. On the contrary, currency exchange rates will be imposed on the trading operations. In the study, researcher has emphasised on the collective demand of the currency exchange rate in the UK.
5 Pages(1250 words)Case Study
Let us find you another Case Study on topic On-Boarding Invervention in Bank of America for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us