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HSBC, Employee Turnover

HSBC, Employee Turnover

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Published by Mahmudur Rahman
HSBC, Employee Turnover
HSBC, Employee Turnover

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Published by: Mahmudur Rahman on Jul 31, 2010
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06/20/2013

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1. Introduction Chapter
1.1 Introduction
 The nature of the Business environment and Manager Jobhas been changed a lot in the last decades. Fiercecompetition in the market demand a very strong Humanrescores along with the quality product and services. One of the major concerns for organizations is to hire efficientemployees. Today's workers have different expectationsfrom the companies and less hesitant to leave one job foranother if they don't feel those expectations are being met.In fact, many employees see job skip as an opportunity foradvancement.Surprisingly, most people do not leave their jobs only formoney. While money usually plays some role in a person'sdecision to leave a company, it is not normally the decidingfactor. Insufficient management support is one of the majorreasons of employees leave.It is expensive to lose good employees. There are someimportant issues which organization should consider. Likethe costs of termination, the cost of hiring and training areplacement, the vacancy cost until the job is filled and theloss of productivity with a new hire. These staggering figures
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should be motivation enough for owners and managers tobegin to focus on retaining their best employees.
1.2 Origin of the report
 This report has been prepared as a requirement of theInternship program
of 
School of Business of IndependentUniversity. HSBC Bank (The Hong Kong Shanghai BankingCorporation) is the place where I have gathered experienceabout the operations of the financial institution. Theorganization has been extremely helpful in acquiringknowledge regarding various aspects and daily bankingactivities. This report is the outcome of three-monthinternship program. The research has been conducted underthe supervision of 
 
Mr. Sheikh Shiblee Sadek and AnsaraChowdhury from HSBC Bank and Mr. A. Qaiyum Chowdhuryfrom the University, has also approved the topic that Iassigned for my internship report.
1.3 Statement of the problem
Banking sector is one of the fast growing industries inBangladesh. Beside the local Bank, many foreign banks also
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operate here to provide the service. Because of the strongcompetition the banks are continuously innovating new waysto attract and satisfy their customers. So, they are the firstto interact with customers and have a huge impact on acustomer’s impression of the institution. Employee turnover, now-a-day is a common problem everywhere. A bank may face problems when its employeeturnover rate is increased. Turnover levels vary fromindustry to industry, region to region. It has many reasons;sometimes it is the attraction of a new job in a differentcompany that “pull” them out of their current organization,hence on other occasions they are 'pushed' due todissatisfaction in their present jobs seek alternativeemployment in other company. Sometimes it is a mixture of both “pull” and “push” factors. The level of employee turnover varies from hiererchy tohierechy and organization to organization and accordingly,the impact of such turnover also varies. Everything dependson the type of labour markets in which it compete. Where itis relatively easy to find and train new employees quicklyand at relatively little cost, it is possible to sustain highquality levels of service provision despite having a highturnover rate. Employee turnover is a great problem when itbears costs. Like—
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