HR Project

STANDARD CHARTERED BANK

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

Index

Company Profile Products & Services Key Concern & challenges Organisational Structure Human Resource Recruitment Performance Training & development Other Hr policies Recommendations Questionnaire

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.

SCBs business & strategy

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.

SCBs 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. SCBs 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.

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.

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.

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 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

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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

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competent and experienced person already working with another reputed company in the same or different industry; the organization might be a competitor 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 CVs 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

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ORGANISATIONAL STRUCTURE
Department: Credit Card Department Inbound Dept

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1 Human Resources

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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. SCBs 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.

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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
interview. conducted.

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

Ads are given in newspapers, walk- in interviews are

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 Carrer@standardcharterd.com

Interview Process:
All short listed candidates are requested to fill in the Application Form prior to the interview. The company officials carry out two rounds of 18

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 1 st 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.

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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.

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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: .

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

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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.

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Other HR Practices

Mandatory off (MO)- 30 days per calendar year. (January to December). Employee has to take minimum 15 MOs till the end of every 6 months, that is till the end of june, next 15 MOs 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. During the festivals the employees decorate the organization and then sweets are also distributed to them.

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 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. Refreshers 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.

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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?

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