Thu, 08-Jan-2009
Talent management is not HR's responsibility
Published: Jun 24, 2008
Singapore - Human resources practitioners should not be entirely responsible for talent management, several financial industry heavyweights said during last Friday's Institute of Banking & Finance panel discussion.
When it comes to the financial sector's talent management, director of human resources for Citi Global Wealth Management International, Mark Morgan, emphasised to a group of CEOs that companies should not push the entire responsibility of developing talent and building a strong talent pipeline to HR.
Instead, he said, senior management should be responsible for the retention and development of the company's best staff.
Morgan elaborates that even if a company has the best processes and systems, if line managers and senior management are not invested in the programme, the talent pipeline will not succeed.
Robert Stead, CEO of Allianz Insurance Company, noted that talent now also expect CEOs to take a vested and genuine interest in their careers.
CEO of DBS Bank, Richard Stanley, said in order to build a strong succession pipeline, it is not enough that companies identify its best talent; the company must also have the culture of promoting from within.
Stanley also added that the bank was looking for more than just talent with "great technical skills" but with a rounded skillset as well. He added that the company was looking for employees who seek diverse range of challenges, so as to constantly be stretched and pulled in their career.
"People who are happy being stagnant are the people you don't want," Stanley noted.
When it comes to the financial sector's talent management, director of human resources for Citi Global Wealth Management International, Mark Morgan, emphasised to a group of CEOs that companies should not push the entire responsibility of developing talent and building a strong talent pipeline to HR.
Instead, he said, senior management should be responsible for the retention and development of the company's best staff.
Morgan elaborates that even if a company has the best processes and systems, if line managers and senior management are not invested in the programme, the talent pipeline will not succeed.
Robert Stead, CEO of Allianz Insurance Company, noted that talent now also expect CEOs to take a vested and genuine interest in their careers.
CEO of DBS Bank, Richard Stanley, said in order to build a strong succession pipeline, it is not enough that companies identify its best talent; the company must also have the culture of promoting from within.
Stanley also added that the bank was looking for more than just talent with "great technical skills" but with a rounded skillset as well. He added that the company was looking for employees who seek diverse range of challenges, so as to constantly be stretched and pulled in their career.
"People who are happy being stagnant are the people you don't want," Stanley noted.
