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Bank of America or McDonald's Case Study - Research Paper Example

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Talent Management Program Course/Number Date Abstract That talent management is inextricably interwoven into an organization’s lifeline is a matter that is underscored by the fact that organizations must possess the best talent to thrive and succeed in an increasingly complex and hypercompetitive economy…
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Bank of America or McDonalds Case Study
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"Bank of America or McDonald's Case Study"

Download file to see previous pages 1. Outlining the Talent Management Program That Led to Success for the Company McDonald's talent management program is behind the company's success, and its multipronged nature can be divided into five stages, as shall be seen. The first step of McDonald's talent management program is the redesigning of the company's performance development system for McDonald's rank and file, as a way of instilling accountability (Goldsmith and Carter, 2010). According to Goldsmith and Carter (2010), the second step of McDonald's talent management program involved designing the global talent review process, in order to help the company's staff align itself with changes that are taking place in the global market. There is the diagnosing of individual employees' ability and actual performance in different circumstances, as a way of determining an employee's inherent skills. The step above will be followed up with the analysis of the results that have been displayed by the employee being examined in order to interpret the actual extent of the employee's talents and skills. The final step may involve action planning which portends, factoring the manner in which the displayed talents and skills by a particular employee can be consolidated and nurtured, so that newer skills are acquired without nascent talents being forfeited. This step may also involve integrating the talents detected into organizational (or McDonald's) synergy and operations. 2. Identifying Strengths of the Program and How They Led to Goal Accomplishment According to Handfield-Jones, Michaels and Axelrod (2001), the strengths attributable to the programs above led to the accomplishment of McDonald's goals. Particularly, redesigning the company's performance development system for McDonald's employees helped foster accountability at the intrapersonal level. Thus, this paves way for the eradication of abuse of office, underperformance, and professional negligence. In the same manner, the step served as an important artifice to encourage efforts towards the attainment of goals relevant to a particular office and officer, since these officers are accountable. All these are factors that fast-track optimal performance and thereby helping in the realization of the previously set performance target. Designing the global talent review process also serves as a point of strength, for talent management, since it gives talent management a wider and more global scope. Instead of focusing on employees' performance ability and skills at the intra-organizational level, employees' talents and abilities are weighed against global expectations and thereby helping McDonald's employees focus on maintaining the competence that is needed to thrive in a competitive global business environment. In the same wavelength, embarking on the global talent review process empowers employees to be abreast with the challenges and requirements that characterize the global market. In this case, by engaging its employees in the global talent review process will help McDonald employees navigate complex matters in the global market, with these matters ranging from cultural restrictions on diet, local trade laws and commercial laws on multinationals, regional technological disparity, the local market's structure, competition and purchasing power. Another strength in engaging employees in designing the globa ...Download file to see next pagesRead More
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