This is because they help the organization in achieving several objectives. This includes planning and executing functions such as marketing.
Talent management program has aided the expansion of the bank in America. This has made the management of the bank tap the best talent from the market. According to Goldsmith &. Carter (2010), the bank has been successful because their talent management plan facilitates the training of employees. In the plan, several principles have assisted in devising a comprehensive program for succession at the bank. Goldsmith &. Carter (2010,) assert that the implementation of the program led to the growth of the bank. Indeed, the management engaged in consultations prior to designing programs that helped in equipping employees with skills necessary for enhancing growth at the institution.
The bank devised a seven-point program that emphasized the importance of leadership at the helm of the organization. According to the plan, the transition of roles happens at the departmental level. This handled leadership dilemmas that led to the fall of competitor banks. The bank survived by recognizing diversity in populations when designing programs that tap talent. The institution believes that success is a combination of stratagem that taps the potential of different employees (Lawler, 2008).
The human resource department designed phases for tapping talent into the firm. Initially, they recruited the best from the job market. Thereafter, they collaborated with firms that assisted in designing programs for recruiting the best. The management succeeded in their ventures because they sought advice from professional bodies and reputable recruitment agencies (Lawler, 2008). The selection process ensured that members selected to fit in the organization.