Case Study: Bank of America
Running Head: BANK OF AMERICA
Assignment 1: Bank of America Case Study
Sylvia Armstrong
Dr. Marie-Line Germain
HRM 532 – Talent Management
January 22, 2012
1. Outline the talent management program that led to success for the company.
Bank of America has always been a leader in the financial services industry. Its
philosophy of talent management and development is driven by seven guiding principles that create a mindset that is pervasive across the bank’s executive ranks. They are:
1. Leaders really do matter in managing and driving accountability, results and culture.
2. Performance rules: Top performers, then high potentials
3. Talent is an enterprise resource.
4. Today’s top-performing leaders are not necessarily tomorrow’s.
5. A broad set of experiences and assignments is the best classroom; yet, a balanced approach is necessary for development.
6. Today’s top 100 must leave a legacy of future talent by teaching, mentoring and serving as role models to others on what it takes to succeed.
7. Invest in the best and focus the rest.
Bank of America’s talent management and development efforts are structured around a
core set of frameworks that includes the Bank of America core values, a 70-20-10 development frameworks that includes experience based development, 70 percent, coaching and feedback, 20 percent, and learning, 10 percent; targeted transition development for leaders at each turn of the leadership pipeline; and regular assessment to gain deeper insight into the experiences, leadership capabilities and vulnerabilities, and ambition of senior executives. (Knighton, 2009). This combination of philosophy and structure provides an integrated approach to talent management and leadership development that focuses on enhancing performance today and preparing leaders for the future. With these solid foundations for developing leaders
Assignment 1: Bank of America Case Study
Sylvia Armstrong
Dr. Marie-Line Germain
HRM 532 – Talent Management
January 22, 2012
1. Outline the talent management program that led to success for the company.
Bank of America has always been a leader in the financial services industry. Its
philosophy of talent management and development is driven by seven guiding principles that create a mindset that is pervasive across the bank’s executive ranks. They are:
1. Leaders really do matter in managing and driving accountability, results and culture.
2. Performance rules: Top performers, then high potentials
3. Talent is an enterprise resource.
4. Today’s top-performing leaders are not necessarily tomorrow’s.
5. A broad set of experiences and assignments is the best classroom; yet, a balanced approach is necessary for development.
6. Today’s top 100 must leave a legacy of future talent by teaching, mentoring and serving as role models to others on what it takes to succeed.
7. Invest in the best and focus the rest.
Bank of America’s talent management and development efforts are structured around a
core set of frameworks that includes the Bank of America core values, a 70-20-10 development frameworks that includes experience based development, 70 percent, coaching and feedback, 20 percent, and learning, 10 percent; targeted transition development for leaders at each turn of the leadership pipeline; and regular assessment to gain deeper insight into the experiences, leadership capabilities and vulnerabilities, and ambition of senior executives. (Knighton, 2009). This combination of philosophy and structure provides an integrated approach to talent management and leadership development that focuses on enhancing performance today and preparing leaders for the future. With these solid foundations for developing leaders
References: Goldsmith, M., & Carter L. (2010). Best Practices in Talent Management: How the World’s Leading Corporations Manage, Develop, and Retain Top Talent. San Francisco: Pfeiffer. Knighton, T., & Krupp, S. (2009). Next Generation Leadership at Bank of America. Oxford University Press. Roberts, J. (2004). The Modern Firm: Organizational Design for Performance and Growth. Oxford University Press. Silzer, R., & Dowell, B. (2010). Strategy-Driven Talent Management: A Leadership Imperative. San Francisco: Jossey-Bass.