Oversea-Chinese Banking Corporation (OCBC) has been recognized to be one of the most famous banks, which is specifically situated in Singapore. It is widely known by the people across the world because of its uniqueness approaches to not only talent management and but also the overall development. The bank has put across some strategies, which is unique in major organizations. Some of this uniqueness are; establishment of several educational centers, increasing the wages of their employees, shifting of workers from one place to another, the close relationship between employers and the employees, and the provision of a favorable working environment to the entire organization. The paper will, therefore, discuss the unique approaches of OCBC to talent management and development, its comparison with other organizations, how it approaches their employees, the extension of its approaches so as to fits other organizations, for instance, industries and some of their limitations. Moreover, it will highlight recent research, which has been conducted on OCBC based on talent management and its development.
OCBC is considered unique since it has taken a step forward and built more learning institutions within their region as a way of fostering talent, especially on the side of their employees. Managers, together with the entire organization, have established more educational centers with the aim of providing knowledge to their workers. This learning institution has also helped the workers to gain more skills in which they can later use it to explore their work.
In addition, the organization has put into consideration the issue of employees' salaries. OCBC has agreed to increase the wages of their employees. The increase in the employees' wages, has motivated them to work to their best hence generation of more income to the bank and provision of better services to their workers (Lai, & Daniels, 2015).
Moreover, OCBC is unique in terms of how it nurtures talent management and, more so, its development because it offers a chance of job shifting to their workers. Managers of the organization have aided in transferring workers from one place to another. As a result of this, it has enabled the workers to gain more knowledge and experience in various fields in which they can use them whenever one of their colleagues is unwell as compared to other organizations, which may tend to depend on specific individuals to handle their respective tasks.
Furthermore, a close relationship between workers and employees has been at the forefront of OCBC. A good relationship within the organization has led to the smooth running of the organization since employers, and the employees have been involved in the sharing of their ideas and even their problems without any fear of being harassed. In addition, the close relationship, which has existed within the organization, has boosted the general work of the workers since the workers are committed to doing their work due to fair treatment. OCBC has also created a favorable environment for both employers and their employees. The organization has emphasized the issue of creating a conducive environment for their workers, so it has to help them to effectively perform their duties, leading to a better outcome for the entire organization.
OCBC differs as compared to other organizations in various ways, especially when it comes to matters relating to talent management and its development.This is simply because the employers in the organization vary on their ideas when it comes to the treatment of their workers. All workers in the organization are being treated equally in terms of wages and their living conditions. In addition, OCBC is a bit different from other organizations, as seen in cases of its approaches to talent management and more so how it cares about employee's development (Tsui-Auch & Yoshikawa, 2015).They usually care about the careers of their employees through means such as offering adequate training in which it will help them to gain more skills in how to operate in various fields of the organization as compared to other organizations where they lack training ground for their workers. This will helped them nurture their talents hence leading to the overall success of the organization.
OCBC has also come up to the extent of sharing their ideas with other organizations such as industries specifically on how to approach talent management and its development. The organization has opened up small industries within their regions. As a result of this, they have taught them how to nurture the talent of their workers in order to achieve their goals.
The current research shows that OCBC has come up with techniques that would help ease their work of talent management and its development as compared to earlier. Firstly, the organization has conducted a regular assessment of their workers and took initiative actions upon areas, which need to be rectified hence incurring the cost of future maintenance. Also, the organization has considered establishing houses for their workers within the institution leading to time management. Finally, it has offered adequate training ground to not only the workers but also the officials of the organization leading to better provision of services to their customers.
Lai, K. P., & Daniels, J. A. (2015). Banking on finance in Singapore: The state-led financialization of banking firms. GPN Working Paper Series. Global Production Networks Centre, Singapore.
Tsui-Auch, L. S., & Yoshikawa, T. (2015). Institutional change versus resilience: A study of the incorporation of independent directors in Singapore banks. Asian Business & Management, 14(2), 91-115.
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