HR SCB Project

33
HR Project STANDARD CHARTERED BANK Submitted By - Dhaval Waghani 1

Transcript of HR SCB Project

HR Project

STANDARD CHARTERED BANK

Submitted By - Dhaval Waghani Roll no.149 Amity Global Business School

1

Index

Company Profile

Products & Services

Key Concern & challenges

Organisational Structure

Human Resource

Recruitment

Performance

Training & development

Other Hr policies

Recommendations

Questionnaire

2

INTRODUCTION

With a banking heritage spanning more than 150 years, Standard Chartered has

an extensive global reach and a strong position in emerging markets,

supplemented by strategic alliances and acquisitions.

Standard Chartered has a network of over 1,750 branches and outlets in more

than 70 countries across the Asia Pacific Region, South Asia, the Middle East,

Africa, Europe and the Americas. SCB is one of the world's most international

banks in terms of the diversity of our people. Our 75,000 employees,

representing 115 nationalities, are offered exciting career opportunities as a

result of our unique global footprint.

SCB’s business & strategy

3

Standard Chartered operates in many of the world's fastest growing markets, and

derives over 90 per cent of its profits from the emerging trade corridors of Asia,

Africa and the Middle East.

Principles & Values

At Standard Chartered the success is built on teamwork, partnership and the

diversity of our people.

At the heart of SCB values lie diversity and inclusion. They are a fundamental

part of the culture, and constitute a long-term priority in their aim to become the

world's best international bank.

Today, SCB employs 75,000 people, representing 115 nationalities, and we can

find 60 nationalities among their 500 most senior leaders. The bank believes this

diversity helps to fuel creativity and innovation, supporting the development of

exciting new products and services for the customers worldwide.

4

5

SCB’s Business

Listed on both the London Stock Exchange and the Hong Kong Stock Exchange,

Standard Chartered PLC is consistently ranked in the top 25 FTSE 100

companies by market capitalisation.

By combining their global capabilities with deep local knowledge, they develop

innovative products and services to meet the diverse and ever-changing needs of

individual, corporate and institutional customers in some of the world's most

exciting and dynamic markets.

SCB is one of the world's most international banks in terms of the diversity of

their people. SCB’s 75,000 employees, representing 115 nationalities, are

exposed to exciting career opportunities as a result of banks unique global

footprint.

To make Standard Chartered a great place to work, we focus on four key

commitments:

To attract, engage and retain talented employees.

To develop individuals and teams by focusing on their personal strengths.

To develop exceptional managers who engage their people.

To create a diverse and inclusive workplace that encourages employees

to achieve their full potential.

6

The Bank offers a well-rounded career that is truly global in scope. Our size and

reach facilitate exposure to international banking standards and work experience

by providing employees with opportunities to travel, interact and learn from other

cultures.

Each year as many as 20 per cent of our employees get expanded role

opportunities. Over 2,000 of our employees are on cross-border assignments at

any one time.

Nearly half of our employees are women, and almost 60 nationalities are

represented among the senior management, reflecting the bank's policy towards

providing equal opportunity for all employees.

7

Business & Strategy

Our business

Listed on both the London Stock Exchange and the Hong Kong Stock Exchange,

Standard Chartered PLC is consistently ranked in the top 25 FTSE 100

companies by market capitalisation.

By combining our global capabilities with deep local knowledge, we develop

innovative products and services to meet the diverse and ever-changing needs of

individual, corporate and institutional customers in some of the world's most

exciting and dynamic markets.

8

Product & Services

Personal Banking

Through our global network of over 1,750 branches and outlets, we offer

personal financial solutions to meet the needs of more than 14 million customers

across Asia, Africa and the Middle East.

Products offered:-

Savings & banking Services

Loan & Mortgages

Credit Cards

Insurance

Investments

International Banking

SME Banking

Our SME Banking division offers a wide range of products and services to help

small and medium-sized enterprises manage the demands of a growing

business.

Cash Management

SME Treasury Services

Trade Finance & working Capital

9

Loan & Mortgages

Wholesale Banking

Headquartered in Singapore and London, with on-the-ground expertise that

spans our global network, our Wholesale Banking division provides corporate

and institutional clients with innovative solutions in trade finance, cash

management, securities services, foreign exchange and risk management,

capital raising, and corporate finance.

Transaction Banking

Financial Markets

Corporate Finance

Principal Finance

Private Banking

Our Private Bank advisors and investment specialists provide customised

solutions to meet the unique needs and aspirations of high net worth clients.

Portfolio view & messaging

Investment Products

Wealth Management Services

10

Key Concerns and Challenges:

The following trends are being seen in recruitment:

OUTSOURCING

The outsourcing firms help the organization by the initial screening of the

candidates according to the needs of the organization and creating a suitable

pool of talent for the final selection by the organization. Outsourcing firms

develop their human resource pool by employing people for them and make

available personnel to various companies as per their needs. In turn, the

outsourcing firms or the intermediaries charge the organizations for their

services.

Advantages of outsourcing are:

Company need not plan for human resources much in advance.

Value creation, operational flexibility and competitive advantage

Turning the management's focus to strategic level processes of HRM

Company is free from salary negotiations, weeding the unsuitable

resumes/candidates.

Company can save a lot of its resources and time

POACHING/RAIDING “Buying talent” (rather than developing it) is the latest

mantra being followed by the organizations today. Poaching means employing a

competent and experienced person already working with another reputed

company in the same or different industry; the organization might be a competitor

11

in the industry. A company can attract talent from another firm by offering

attractive pay packages and other terms and conditions, better than the current

employer of the candidate. But it is seen as an unethical practice and not openly

talked about. Indian software and the retail sector are the sectors facing the most

severe brunt of poaching today. It has become a challenge for human resource

managers to face and tackle poaching, as it weakens the competitive strength of

the firm.

E- Recruitment

Many big organizations use Internet as a source of recruitment. E- recruitment is

the use of technology to assist the recruitment process. They advertise job

vacancies through worldwide web. The job seekers send their applications or

curriculum vitae i.e. CV through e mail using the Internet. Alternatively job

seekers place their CV’s in worldwide web, which can be drawn by prospective

employees depending upon their requirements.

Advantages of E-Recruitment are:

1) Low cost.

2) No intermediaries

3) Reduction in time for recruitment.

4) Recruitment of right type of people.

5) Efficiency of recruitment process

12

ORGANISATIONAL STRUCTURE

Department: Credit Card Department – Inbound Dept

13

14

1 Human Resources

15

SCB very strongly believes that 'People make the difference'. It believes in

nurturing employee potential through involvement, empowerment and continuous

learning. SCB is one of the world's most international banks in terms of the

diversity of their people. SCB’s 75,000 employees, representing 115

nationalities, are exposed to exciting career opportunities as a result of banks

unique global footprint.

SCB incorporates diversity and fair treatment of employees as a

core value.

Below was the survey conducted in the bank by Hr department of

Scb.

It can be seen that almost 80% of the employees are satisfied for working with the bank.

16

H R Policies & Procedures of SCB - For Credit Card Department

Recruitment

Recruitment means to estimate the available vacancies and to make suitable

arrangements for their selection and appointment. Recruitment is understood as

the process of searching for and obtaining applicants for the jobs, from among

whom the right people can be selected.

In recruitment, information is collected from interested candidates. For this

different source such as newspaper advertisement, employment

exchanges,internal promotion, etc.are used.

In the recruitment, a pool of eligible and interested candidates is created for

selection of most suitable candidates. Recruitment represents the first contact

that a company makes with potential employees

Sources of Recruitment:-

a) Where applicable, positions will be advertised within the organization

before exploring other external sources like advertisement, agencies, etc.

17

One of the main source of recruitment used now a days is through

referrals given by the company employees. Employees are given

Monetary incentives if the referral given by the employee is selected for

the the job. Higher the post, More the monetary incentive is given.

b) Even after that, if the position is still Vacant, Ads are given in newspapers

stating the details of the post vacant & the minimum required eligibility

criteria.The banks also has a tie up with Manpower Services

Consultancy --- A consultancy firm for short listing the candidates for

interview. Ads are given in newspapers, walk- in interviews are

conducted.

c) SCB posts its vacancies through various Job Portals such as Naukri.com,

Indiajobs.com, Monsterjobs.com, and Timesjob.com

d) The company also posts its vacancies through its home page where the

candidate can post its resumes through the link

[email protected]

Interview Process:

18

All short listed candidates are requested to fill in the Application

Form prior to the interview. The company officials carry out two rounds of

interviews. The first round is held by an officer from the dept. concerned where

the vacancy exists who fills in the interview assessment form and depending on

the form filled the candidate is either rejected or selected for another round of

interview. The second round of interview is taken over by dept. head & HR dept.

head that again fill up the same assessment form filled in during the 1st round of

interview.

After conducting the two rounds of interviews the candidate most

suitable is selected and an appointment letter is sent to the candidate. The

candidate is required to sign the appointment letter suggesting a date of joining

the company. If the candidate does not accept the appointment then the

candidate who was second best would be approached for appointment. The

company also receives applications for jobs on a day-to-day basis, these

applications are also considered while filling in vacancies and the process of

interview and appointment is carried out.

19

Performance Appraisals

scb is a performance driven organization. Super achievers move up the career

ladder, effortlessly.

The employee performance appraisals are conducted every 6 months. Each

Employee is given an appraisal form to fill up every 6 months.

The appraisal form is divided into 4 sections. These four sections are

Key Result Area: These are the Objectives that were expected to be

fulfilled by the employee in the beginning of the year. Has to be filled by

the employee

Weightage: The employee has to score himself depending on the

objectives he has completed. The scores are out of 50.

Actual Achievements: This is the actual list of objectives that are

completed by the employee from the given list of objectives. This has to

be filled by the employee.

Remarks: This section has to be filled by the appraiser. The appraiser has

to note down his comments about the employee in this section & has to go

through the records of the employee to evaluate for performance

appraisal.

20

The Completed forms are then submitted to the respective Appraiser. The

appraiser is the authority to whom the employee reports. The appraiser after

assessing the appraisal form will have a one on one session with the employee.

One on one session is very interactive. In this session the employee has to justify

the score he has allocated to himself. The employee can also put forward his

ideas, and discuss issues in this session. The appraiser will provide then give his

feedback to the employee. After this whole session the employee will receive his

final overall performance rating.

Depending on the rating the employee is subjected to the following

Future Roles

Skills to be acquired/developed

Suggested course of action

Training Required

Areas for opportunities

Promotions

Training and Development

Professional Training Programs

At SCB, standard training is an inherent element of their support system . Some

of their training and support initiative are as:

21

.

Basic Training and Induction: Independence of work experience, this training will

give perfect knowledge about the insurance industry along with comprehensive

knowledge about the insurance along with comprehensive knowledge abut SCB

SLIC Product.

Advance Training: Once employees have settled down as a professional the

company will continuously upgrade capability and knowledge through

sophisticated training program, fit for this dynamic world of financial products and

markets.

Development refers to those learning opportunities designed to help employees

grow. Development is not primarily skill-oriented. Instead, it provides general

knowledge and attitudes, which will be helpful to employees in higher positions.

Efforts towards development often depend on personal drive and ambition.

Development activities, such as those supplied by management development

programmes, are generally voluntary

Methods and Techniques of Training:

On-the-Job Method (OJT):

Majority of industrial training is on the job training type. OJT method is mainly

adopted while orienting new employees, introducing innovations in products &

services and in special skills training. OJT is conducted at the work site and in

the context of the job. Often, it is informal, as when an experienced worker shows

a trainee how to perform the job tasks.

Off-the-Job Training Method:

Off-the-job training is mainly adopted for orienting new employees, introducing

22

innovations in products and services, special skills training, safety education,

creative, technical & professional education and sales, administrative,

supervisory and managerial education. The advantages and disadvantages of

some of the important techniques of off-the-job methods are listed below:

a) Lectures:

Lecture is a verbal presentation of information by an instructor to a large

audience. This method can be made effective when combined with other means

of training.

b) Audio-Visuals:

These include television slides, overheads, video-types, films and LCD

Projectors. 

c) Programmed Instruction (PI):

Training is offered without the intervention of the trainer. Information is provided

to the trainee in blocks, either in a book form or through a teaching machine. PI

involves:

1. Presenting questions, facts, or problems to the learner.

2. Allowing the person to respond.

3. Providing feedback on the accuracy of his or her answers.

4. If the answers are correct, the learner proceeds to the next block.

d) Simulations:

A simulator is any kind of equipment or technique that duplicates as nearly as

possible the actual conditions encountered on the job. It is an attempt to create a

realistic decision – making environment for the trainee. The advantage of

simulation is the opportunity to ‘create an environment’ similar to real situations

the managers incur, but without the high costs involved should the actions prove

undesirable.

23

Other HR Practices

Mandatory off (MO)- 30 days per calendar year. (January to December).

Employee has to take minimum 15 MO’s till the end of every 6 months,

that is till the end of june, next 15 MO’s till the December End.

Travelling incentives :- employees are given travelling incentives as per the

shift they are given to work.

Afternoon Shifts:- 12pm to 9pm – Rs 100 per day

1pm to 10pm – Rs 100 per day

2pm to 11pm – Rs 100 per day

3pm to 12pm – Rs 200 per day

Night shift – 9pm to 7am - Rs 200 per day

Birthday celebrations are carried out in the organization by gifting them with

cards and gifts.

24

During the festivals the employees decorate the organization and then sweets

are also distributed to them.

On-line Human Resource Management System, which acts as an intranet, is

provided to the employees to keep them updated with all the information about

the organization & about their personal records.

Recommendations:-

Company should focus on Campus Recruitment.

It has been seen that there has been too much of work load recently results into stress. Scb should come up with stress management activities.

Refresher’s Training & updates regarding the products must be given to each employee so that they can get the proper knowledge of the products.

Front end should be there to deal with walk in customers.

25

Questionnaire

1. Could you please tell me, the organization structure of the company?

2. Could you please tell me, the products / services offered by the company?

3. Could you tell me, how does the company plan for human resources?

4. Could you please tell me, which process and methods does the company use for recruitment & selection?

5. Could you please tell me, the training process and method used by the company?

6. Could you please tell me, the performance appraisal / management process and policies?

7. Could you please tell me, what are the employee benefit programs in the company?

8. Could you please tell me, a few challenges you face in handling human resource in the company?

26