Diversity and Organization-HSBC

Presented By: Saad Zafar M.Babur Farrukh Omar Maged
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HSBC Stands for “Hong Kong and Shanghai Banking Company” Located in London HSBC's international network comprises around 7,500 offices in over 80 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. 221,000 shareholders in 127 countries and territories and are traded on the New York Stock Exchange.

(sited from: http://www.nyse.com/)

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HSBC Financial Services
HSBC provides financial services to around 89 million customers through four global businesses:

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HSBC Financial Services cont’d
• • • • Retail Banking and Wealth Management Commercial Banking Global Banking and Markets Private Banking
(cited from: http://www.hsbc.com/1/2/)

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At HSBC, “Diversity is a source of opportunity, whether in employment or customer markets. Appreciation of the rich mosaic of difference within the workforce fuels group dynamics and helps create an environment where teams can perform to their full potential”. (HSBC Chairman, Stephen Green)

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• HSBC is world‟s local bank! How? • HSBC believe the world is a rich and diverse place full of interesting cultures and people, who should be treated with respect and from whom there is a great deal to learn. • HSBC dynamic environment

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HSBC workforce diversity
HSBC embraces and manages difference in the changing workforce to gain the best from its people and to provide the best service to its customers. HSBC diversity is regarded as a competitive differentiator, in both employment and customer markets (John, K 2003). At HSBC workplace:
• The diverse workforce • Innovation and creativity are rewarded and recognised

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Difference of opinion

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HSBC diversity, Employer & Customer Value
• HSBC Diversity demonstrates that they are a socially responsible organisation. • Embracing diversity puts HSBC in an excellent position to face the future with confidence. • A respect for diversity helped HSBC to attract, understand and retain customers better. • Maximise and develop existing pools of talent and skills within HSBC

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Diversity issues in-HSBC
• The bank has gone for a broad interpretation, equating diversity with an attitude of open-mindedness, and a willingness to value the contributions of employees regardless of their background and lifestyle

• HSBC wants the best working environment for its people
• Harassment Policy

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Diversity issues in-HSBC cont‟d
• Circulation of material/ news/ notices amongst employees is equal • HSBC bank tracks its progress on diversity and inclusion and measures employee engagement.

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HSBC Diversity as a business strategy
• Flexible working practices are made available, as there is an appreciation that not everyone can and will work the same hours and in the same way. • A commitment to diversity helps attract and retain talented staff. They want the best people to help meet their business priorities and they want those already working for them to realise their full potential . (Steve, 2006)

• Using diversity as a business strategy demonstrate that HSBC are a socially responsible organisation. Image and brand value is enhanced when they are seen to treat employees, customers, communities and shareholders the way they want to be treated.

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HSBC Diversity as a business strategy cont‟d
Family Friendly Policies- The bank offers a range of family friendly policies to assist employees in balancing their work and home responsibilities. Employee Networks and Assistance Services-A variety of race and faith networks e.g. the Islamic Society and the Jewish Society -A disability and carers network called Choices -A working parents network -GLOBE, for Gay and lesbian employees

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Leadership approach to diversity management in HSBC
• Multicultural approach - emphasizes and increasing peoples consciousness and appreciation of differences between groups as well as representing the uniqueness of each individual.
http://www.business.hsbc.co.uk/1/2/multicultural-banking/home

• the company promotes good environmental practices and sustainable development. More than the usual definition of leadership as communicating the need to the people • Such attitude considers transparency as part of effective leadership. Integrity, in addition, is another key term for HSBC as a central idea of ethical leadership.

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Leadership approach to diversity management in HSBC cont‟d
• HSBC thrives toward ethical leadership wherein customers are served to generate reasonable return for owners and shareholders • provides stable jobs for their employees in a progressive and responsive manner and help communities where the bank operates while staying within boundaries of regulations

• Since HSBC is operating under „Key Business Value‟ principle, the company expects and demands the highest of standards among the employees. HSBC is very particular with commitment, loyalty, hard work and integrity

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Example of HSBC Key Business Value

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Methods of Date Gathering
• Face to Face approach • HSBC Company website • HSBC Advertisement campaigns

• Word of Mouth –Customer feedback

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Theories and Models
• Iceberg Model • Hofstede‟s Intercultural dimensions
(http://www.scribd.com/doc/41808230/Final-HSBC-as-on-21-Sept)

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Iceberg Model
• The popular 'Iceberg model' of culture was developed by Selfridge and Sokolik, 1975 and W.L. French and C.H. Bell in 1979

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Iceberg Model points kept in view by HSBC
http://www.hsbc.com/1/2/careers/diversity

• Values & Beliefs:-Special working hours for
Muslims during Ramadan (Hari Raya)

• Unbiased:- Example Hong Kong University
• 22 Students called up for the 2nd interview. • 4 made it to the final interview

• 2 Pakistani’s, 1 Indian, 1 Chinese!!!!

• Feelings:- Passing away of a close relative
http://en.wikipedia.org/wiki/Mourning
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Hofstede‟s intercultural dimensions
• Uncertainty Avoidance
• Omar Maged’s experience with HSBC in Singapore

• Masculinity/Feminity
• Examples of Middle East and Australia

(http://www.hcamag.com/resources/diversity/diversity-at-hsbc/114612/)

• Long Term Orientation
• The contract offer from HSBC to my brother, Hamza Farrukh (http://www.123helpme.com/view.asp?id=122263 http://www.bitcdiversity.org.uk/best_practice/exemplar_employers/tr aining_and_development/case_studies/hsbc_bank_plc.html)

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Recommendation
• They should try and implement all 5 of Hofstede’s cultural dimension • Power Distance : Measures inequality • Individualism: is the degree to which individuals are integrated into groups

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Conclusion

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References
• Antonakis, J., Cianciolo, A. T. & Strenberg, R. J. (2004). The Nature of Leadership. Sage Publications, Inc. • Bass, B M 1990, Bass and Stogdill’s Handbook of Leadership: Theory, Research and Management Applications, 3rd ed., Free Press, New York.

• Bittel, L. B. (1992). What Every Supervisor Should Know. McGraw-Hill Professional.
• http://zestnzen.wordpress.com/category/cross-cultural/ • http://farewellslavianka.wordpress.com/2011/10/08/post-5-hsbcintercultural-communication/
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Website References
• http://www.hcamag.com/resources/diversity/diversity-at-hsbc/114612/ • http://www.123helpme.com/view.asp?id=122263 • http://www.bitcdiversity.org.uk/best_practice/exemplar_employers/training _and_development/case_studies/hsbc_bank_plc.html • http://www.hsbc.com/1/2/careers/diversity • http://en.wikipedia.org/wiki/Mourning • http://www.scribd.com/doc/41808230/Final-HSBC-as-on-21-Sept

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Class Activity

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Questions 

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