HR Comparison Between HSBC and SCB

8/3/2019 HR Comparison Between HSBC and SCB

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MGT 351 Project Report`

Standard Chartered PLC is a multinational financial services companyheadquartered in London, United Kingdom. This organization has now operating its business

in more than seventy countries of the world. It operates a network of over 1,700 branches and

outlets (including subsidiaries, associates and joint ventures) and employs around 80,000

people.

It is a universal bank and has operations in consumer, corporate and institutional banking andtreasury services. Despite its British base, it has only one branch in United Kingdom and around

90% of its profits come from Asia, Africa, and the Middle East.

Standard Chartered has its primary listing on the London Stock Exchange and is a constituent of

the FTSE100 Index. It has secondary listings on the Hong Kong Stock Exchange and the Indian

Stock Exchanges. Its largest shareholder is Temasek Holdings.

The name Standard Chartered comes from the two original banks from which it was founded

and which merged in 1969 The Chartered Bank of India, Australia and China, and The

Standard Bank of British South Africa.

Standard Chartered Bankhas been operating in Bangladesh for over a hundred years. After

the partition of the subcontinent in 1947, Bangladesh became East Pakistan; thereafter SCB

started its business in 1948, in the port city of Chittagong. Standard Chartered Bank is doing

exceptionally well in Bangladesh.

The head office ofStandard Chartered Bangladesh is in Gulshan 1. Standard Chartered Bank

introduces Automated teller Machine for its consumers first time in Bangladesh. It has high

brand equity in the Bangladeshi Banking industry. The workforce of Standard Chartered

About Standard Chartered

Standard Chartered Bank Bangladesh
http://en.wikipedia.org/wiki/Chartered_Bank_of_India,_Australia_and_Chinahttp://en.wikipedia.org/wiki/Standard_Bank_of_British_South_Africahttp://en.wikipedia.org/wiki/Standard_Bank_of_British_South_Africahttp://en.wikipedia.org/wiki/Chartered_Bank_of_India,_Australia_and_China


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constitutes highly skilled workers with having a good communication skill and knowledge

depth.

As we have mentioned previously Standard Chartered Bank always recruit the intelligent and

smart workers who can lead the organization in the right track in achieving the companys goal.

At present the organization has 4 types of recruitment program. They are:

Contractual Recruitment

Annual Payment

International Graduate Program

Professional Hire

Usually the Bank officials do not encourage the candidates to submit a hardcopy of their CV.They used to publish the circular into the official website. Here is the web link of SCBs career:

http://www.standardchartered.com/careers/graduates/index.html

The authority only receives hardcopy of the CV of interns. In choosing the interns Standard

Chartered Bank emphasizes on the CGPA of an intern as well as his/her co-curricular

experiences. The HR department of Standard Chartered believes that co-curricular activities

have a great impact on the team-building capability of a person.

To get recruited in SCB a candidate must have some basic skills. Like: Communication,

Presentation, and Basic Knowledge about the corporate world etc. The HR department also

The Recruitment Process of Standard Chartered Bank

ualities needed to et recruited in SCB
http://www.standardchartered.com/careers/graduates/index.htmlhttp://www.standardchartered.com/careers/graduates/index.html


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notices the behavior and talking style of a candidate to measure whether he/she is suitable for

the particular post. According to the HR managers of standard Chartered Bank a candidate

should be unique in his/her area of concentration. For example: If a candidate sits for an

interview of a post in the sales department then he/she must have a good convincing power and

communication skill. On the other hand if someone applies for credit department he/she needs to

have the knowledge of Interest rate, banks reserve ratio etc.

There is a big pool of NSU graduates among SCBs workforce so it is understandable that NSU

graduates are doing well in Standard Chartered Bank. The SCB authority also thinks that NSU

people are very good in communication skill. In the corporate sector HR department of SCB

ranks communication skill at no. 1. The HR manager Sajjadul Karim mentioned that NSU

graduates are tech savvy, thats why they can easily cope up with the newly changed Businessenvironment. Other skills he mentioned about NSUers are:

Analytical ability

Knowledge Depth

Presentation capability

Standard Chartered Bank mentioned that the top 3 business schools of Bangladesh are:

Institution of Business Administration (IBA), Faculty of Business Administration (DU), and

School of business of North South University. In differentiating them, the HR manager said that

Perce tion about NSU

Com arison between raduates from NSU and other Business


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NSU graduates are dominating in presentation and communication. It is tough to overtake them

in these 2 skills.

On the other hand IBA and DU graduates are better in knowledge depth. They have more

information about their area of concentration. Moreover they are better than the NSUers in

analytical ability.

Mr. Sajjadul Karim also mentioned that other business schools of Bangladesh are also

improving. They might throw a challenge for NSU graduates in future. So, his suggestion for

NSU students is that they should get themselves well prepared in the recruitment process. NSU

students should be ready for the upcoming challenges.

Usually the fresh graduates are recruited in the International Graduate Program of StandardChartered Bank. Also, in other departments the authority recruits some fresh graduate. The

recruited candidates in the International Graduate Program are considered as provisional

employees in the organization. These candidates salary rose from 40,000-50,000 BDT.

Standard Chartered Bank also offer internship program for the university students. The salary

for the interns is 5,000 BDT. In selecting the interns they receive hardcopies of CV of the

candidates as well as the references from the universities. Moreover, internal links are also

working effective in doing internship in Standard Chartered Bank.

Salar for a Fresh Graduate and an Intern

Conclusion


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In the end, Mr. Sajjadul Karim said that NSU graduates have a high chance to be the king in

corporate world. HE wishes all the best to NSU graduates. Also, he mentioned that the HR

department is pleased about the performance of NSU people in North South University.

With the increase in the size and complexity of business organization, man has become the most

important factor in business. Business needs people as owners, employees, and consumers.

Organizations need people to make them operated. An organization is nothing without human

resource. Of all the resources, the most important one is human resource, because human beings

play a dual role- as resource, as well as a motive force for all other resources by manipulating

them, by the way of developing, utilizing, commanding and controlling. So human resource

management (HRM) functions include recruitment, selection, training and development,

performance appraisal, compensation and industrial relation in an organization.

The HSBC Group is one of the largest banking and financial services organizations in the world,

with well-established Businesses in Europe, the Asia-Pacific region, the Americas, the Middle

East and Africa. HSBC Holdings plc is incorporated in England, with its head office in London.

Although the company started in the year 1889 .The establishment in 1999 of HSBC as a

uniform, international brand name ensured that the Group's Corporate symbol has become an

increasingly familiar sight across the world.

Human Recourse Management is a vital part of any organization. This is even more important

for a multinational company like HSBC. They have business all over the world.

About HSBC

HR PRACTICES IN HSBC


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HSBC is the bank where all the employees are monitored under an effective HR department.

This department of the organization playing the role of implied authority of HSBC. Internal and

external all the situations and considerations related to human is monitored and operated by the

HR department. Eventually this bank uses all the basic functions of HR to run the organizations.

Among those specifically:

Recruitment Selection

Training and development Compensation management HRIS HPWS is practiced

HSBC also applies some strategic HR methods for selecting the most logical and efficient

candidates.

HSBC bank has a strong HR culture in the organization, and it is maintained very

tactically. As it is said that HSBC practices all the HR basic activities, this bank also offers

strategic training sessions for its employees for the growth career. Lets have a glance of the

functions that HSBC applies:

International market competitive compensations Personal and organizational benefits and rewards European standard training sessions

HR Activities


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Performance metrics Organizational charts Diverse recruitment process Proficiency development program (PDP) Advanced HRIS (Human Resource Information System) Four Step selection process

The selection of external recruits consists of the following steps:

Potential candidates interested in joining the bank are required to send their complete

curriculum vitae. An acknowledgement of receipt is sent for all submitted applications to the

candidate's email.

The Human Resources department evaluates all incoming applications, against

prerequisite abilities and skills set for all current openings. All applications are kept based on

strengths and specialization, for future reference.

Recruitment Process

1. CV Submission

2. A lication

3. Abilit Tests


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Potential candidates will be invited to participate in aptitude tests i.e. numerical, verbal,

English and psychometric, when deemed necessary.

To ensure that our recruitment process is fair and consistent, all candidates who are

successful at the exams are invited for a capability based interview. Interviews are based againstcapabilities, required for each position for which the candidate is interviewed for. A capability

or competency is an ability described in terms of skills & behaviors that are essential to

effectively perform within a job.

At all stages of the process candidates are kept informed of the status of their application

with an email reply letter.

If a candidate successfully reaches the final stage, a position offering is made in

conjunction with a competitive reward package.

Internal selection is done through competency based recruiting, succession process.

HSBC uses some external sources for recruitment. These are:

4. Ca abilit Based Interviews

5. Re l Letters

6. Job Offer


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Internet

Off shoring

College recruiting

Referrals

Advertising

Internal recruiting is very high in HSBC. HSBCs training and development activities are very

high in quality so the recruiters emphasize to recruit internal capable candidates for the

respective post. HSBC also uses HRIS for succession planning. It also a method of the internal

recruitment of HSBC.

HSBC runs Final Selection Centers (FSCs) in a number of key global locations, including

London, Chicago, Hong Kong, Mexico and Dubai. If a candidate completes the telephone

interview successfully, they will invite to the location most appropriate to them. In Bangladesh

face-to-face selection is done in the head HR departments office where the job is described

eventually.

The FSC is a two way process. It is a candidates opportunity to meet a number of

current IMs (international Managers) and find out as much as possible about their experiences.

Selection

The final step to success


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HSBC wants candidates to be able to make an informed decision a candidate should

receive an IM offer.

The FSC consists of a number of capability based exercises, including:

Face-to-face interview

Group exercise

Written case study

Presentation

Role play

There is nothing candidates can do to prepare in advance for the FSC, other than to relax and

be you. This is our opportunity to see how candidates perform in a number of different

situations, against clearly defined criteria. HSBC also wants to get to know candidates better

and understand what drives you towards the IM programme.

Head Huntingprocess is very effective for HSBC. Through this they can easily recruit

and select top level managers, though they are offering a very attractive compensation.

HSBC believes our primary competitive advantage comes from our employees. It is their

ability to provide a superior customer experience to its customers that sets it apart from other

financial services companies. In the ever changing financial services industry, all of us must

continuously upgrade our skills and knowledge in order to maintain this competitive advantage.

Training and Development


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HSBCs goal is to attract, retain and motivate the very best, and to do that it supports training,

development, and business education through the following:

Seminars, workshops and locally tailor made training on a variety of topics are offered

directly by HSBC Training and Development Department at our training centre located atMotijheel.

Job related courses, seminars, workshops and conferences developed and presented at

HSBC Offices in Asia and also at Group Training and Management Development Centre at

Bricketwood, UK.

Web-based and multimedia self-study programmes available through our Intranet and

multimedia Learning Centers located in our HSBC offices.

Resident Management Trainee Programme (RMT Programme)

The Resident Management Trainee programme (RMT) aims to select a group of high

potential executive trainees and provide them training and development opportunities. The RMT

Internal Trainin Pro rams

External Courses

Distance


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programme gives potential executives effective and systematic training to acquire an excellent

understanding of the commercial operations and business functions.

The RMT programme ensures that successful applicants, with the right training, will

have the ability and potential to reach the highest level of management within HSBC

Bangladesh, and possibly beyond.

European training programme

Programme Overview

Providing a comprehensive insight into our retail and commercial banking businesses, it

is designed to help employees develop the skills and experience you need to embark on a

management career with HSBC in your home country through different placements overseas.

This training is a part of HSBCs performance management appraising process.

Programme Structure

In total, the programme lasts approximately 20 months, commencing at the beginning of

September 2009, with a two-week local induction course followed by a two-week UK induction

course on 14th of September 2009.

Following the induction, you will undertake three four-month placements overseas and the last

placement is for a six-month period in the home country.

2 weeks Home country induction (Greece)

2 weeks UK induction 14-25 Sept 2009

4 months 1st overseas placement

4 months 2nd overseas placement

1 week UK training


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4 months 3rd overseas placement

6 months Home country placement (Greece)

Typically these placements will take place in Europe, Canada, India, Sri Lanka or the United

Arab Emirates.

After the programme

At the end of the programme, a candidate is ready to take up a management position

with HSBC in his/her home country.

Performance Management

HSBC has a strong HR culture in their organization. Being a multinational company

(MNC) it has their own way of daily evaluation. Through different formats of evaluation they

measure their employees performance. Participant diary and observation these two methods are

applied for evaluation. After evaluation using some metrics comes out the performance

appraisal of employees. Then it is decided whether the employee need more training sessions or

developments. Succession is a very common practice in HSBC. It helps to reduce cost as well as

determine the employee performances that are being ready for the expected post.

BENEFITSANDREWARDS

HSBC continually evaluates and reviews its employee benefits to ensure that benefits are

competitive and in line with its employees needs and to manage their diverse life.

Rewards

Salaries


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Market competitive remuneration package subject to annual review where individual

performance is recognized.

Performance Bonus

Market competitive annual bonus based on results and individual performance.

Incentive Schemes

Market competitive incentive schemes in specific business areas.

Share save

Employees are entitled to buy HSBC shares at a 20 per cent discount on the market

price.

Achievement Shares

HSBC shares may be granted annually, depending on position and individual

performance.

Benefits

Private pension plan

Private medical plan for employees and dependents

Life and accident insurance

Medical check ups

Banking products with preferential pricing

Nursery and summer camp allowances

Bank car, parking space and allowances, depending on position

Eid children party, annual employee party etc

Market competitive remuneration package and annual cash bonuses.


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Health plan and routine medical allowance including optical and dental treatment.

Short and long-term disability coverage, as well as life insurance.

Paid leave for marriage, maternity, sickness and vacation.

Staff banking privileges, including special interest rates for car loans, sundry loans and

home loans.

An active Sports and Social Club.

Development opportunities and career support.

Retirement benefits.

Human resource department is a basic part of business now days. So to run a business this

department has a lot of activities to do. HSBCs HR department is the department from where

the organization is actually monitored and controlled over time. In India HSBC is operating for

150 years and have grown significantly. So after all the details it is clear that to run an

organization effectively and efficiently it must have to do some HR jobs. Coz the resource of an

organization helps it to grow. And the effective use of the resource makes the organization to

reach up to its expectations and objectives. Human resource is considered as the most important

resource of business and to use this asset HRM has no alternatives. As for saying HSBC, it uses

its most important resource by developing and satisfying every need of the employees which

helps a lot to increase the OCBs (organizational citizenship behavior) positivity.


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HR Comparison Between HSBC and SCB

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