Professional Documents
Culture Documents
Introduction Chapter
1.1 Introduction
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should be motivation enough for owners and managers to
begin to focus on retaining their best employees.
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operate here to provide the service. Because of the strong
competition the banks are continuously innovating new ways
to attract and satisfy their customers. So, they are the first
to interact with customers and have a huge impact on a
customer’s impression of the institution.
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• Employee recruitment costs
• Employee selection costs
• Cost of covering during the period in which there
is a vacancy
• Administration of the recruitment and selection
process
• Induction training for the new employee.
• Leak of business informatio/secrecy.
Specific objectives
1.5 Methodology:
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1.5.1 Sampling Plan:
• Sample size: 30
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1. Questionnaire Method.
2. Direct Interview Method.
Secondary Data:
The secondary data have been collected from the
“Employees Job Enlist Record” of HSBC Bank, and from some
journals. Also some important information is collected form
Internet for the report.
2. Percentage.
3. Cross tabulation
1.5.4 Survey period
The survey is being conducted from March 10th to April 15th
2008.
1.6 Scope:
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The scope of the report is limited to all the personnel of
HSBC CGE Branch. The report will explore the reasons of
employee turnover in HSBC.
1.7 Limitations:
Objective of the practical orientation program is to have
practical exposure for the students. Our tenure was for only
three months which was some how not sufficient for
analyzing such a matter. Moreover, it was too difficult for me
to give time for preparing this report after working whole day
in the bank.
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• Because of the limitation of information, some
assumptions were made. So, there may be some
mistakes in the report.
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2. Organization overview
2.1 PROFILE
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2.2 Vision
Is to become the world’s leading financial services
company. “Leading” means preferred, admired dynamic and
being recognized for giving the customer a fair deal.
2.3 Mission
Is to grow earnings over the long run which will place it
favorably in comparison to its peer group.
Brand
HSBC, a symbol of one of the world’s leading brand for
customer, experience and corporate responsibility.
Massage
“THE WORLD’S LOCAL BANK”
Parent Company
“The Hong Kong and shanghai Banking Corporation
Limited is wholly owned subsidiary of HSBC Holdings Plc, the
holding company of the HSBC Group.
HSBC Group maintains one of the world’s largest private
data communication network and is reconfiguring its
businesses for the e-age. Its rapidly growing e-commerce
capability includes the use of the internet, PC banking over a
private network, interactive TV, fixed and mobile telephones.
HSBC Group
The HSBC group is named after its founding member,
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“The Hong Kong and shanghai Banking Corporation Limited”
which was established in 1865 to finance the growing trade
between china and Europe.
HSBC Network
HSBC’s international network comprises over 10000
offices in 83 countries and territories in Europe, the Asia-
pacific region, the Americas, the Middle East and Africa.
Quality
Emphasis on long term, ethical client relationships.
High productivity through teamwork.
A confident and ambitious sense of excellence.
International in outlook, and character.
Creativity and customer focused marketing.
HSBC in Bangladesh
HSBC incorporated in Bangladesh in December 1996.
Started its journey in Bangladesh from anchor tower in
December 1996.
Now HSBC has 9 offices and 8 branches in
• 1. Dhaka
• 2. Chittagong
• 3. Sylhet
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o Custody And Clearing
o Trade Services
Commercial Banking
o Leasing, Finance and Factoring
o Payment and Cash Management
o Trade Services
Insurance Services
Network Service Center
• Home Loan
• Home Equity Loan
• Car Loan
• Personal Installment Loan
Travel loan
Student loan
Life style loan
Wedding loan
Furniture loan
Motorbike loan
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CNG conversation loan
Current Account
Savings Account
Savings Plus
Power vantage
Amanah Account
Time Deposit Account
Monthly Interest Bearing Time Deposit
Account
HSBC Savings Plan
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Family Protection Plan
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• Personal secured loan:
A fixed loan secured by foreign currency time deposit,
WEDBs or USDBs.
3. Literature Review
Conceptual Learning:
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employer is said to have a high turnover, it most often
means that employees of that company have a shorter
tenure than those of other companies in that same industry.
Similarly, if the average tenure of employees in a particular
sector is lower than that in other sectors, that sector can be
said to have a relatively high turnover.
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replacement costs to the organization, as well as resulting in
a competitive disadvantage to the business. (TAYLOR, 2002)
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The use of exit interviews is widespread yet they are
notoriously unreliable, particularly when conducted by
someone who may later be asked to write a reference for the
departing employee. They are reluctant to voice criticism of
their managers, colleagues or the organization generally,
preferring to give some less contentious reason for their
departure. (Robbins, 2005)
Empirical learning:
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“high” today, it should be accepted that some normalized
rate in the 10% – 15% range would be expected for even a
high performer. The good news about turnover is that the
economy is doing well and employees have options. Great
companies do achieve lower turnover. While turnover is a
fact of life, some companies have simply put this issue to
bed. Low turnover alone does not drive better performance –
While great companies typically have low turnover, it’s
important to note that low turnover does not necessarily
make you a great company. It is found that there is no
mathematical correlation between a bank’s turnover rate
and its ROA or efficiency ratio. Performance has too many
variables for turnover alone to be a primary driver.
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the universal truths in business is that no one likes to work
for a wicked person. While the Human Resources
department cannot be expected to solve the employee
turnover issue, it certainly can be the coordinator and
catalyst for going after the problem. However to face this
problem the first thing HR can do is to make the turnover
issue visible and the costs real. Making visual report will
keep management focused quarter to quarter on the issue.
Another practice the HR can do is to conduct exit interviews
with employees to learn and to know the reason behind their
leave. (TAYLOR, 2002)
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replaced by a more effective employee, and can happen
when a senior retirement allows the promotion or acquisition
of a young, energetic employee
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4. Findings and Analysis:
Frequency Percentage
Yes 3 10%
No 9 30%
N=30 100%
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Relationship between nature of job and the
related
satisfaction level—
natur
e of
job
Highly 33.33 33.33% 33.33% ------
Satisfied %
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employees perceive their job as stressful. This high job
stress is one of the major causes for employee turnover. In
addition there is a prevalence of a group to whom the job is
just boring. This group may propel the level of turnover in
long run.
Involuntary turnover---
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Year No Of Average
Employees turnover
2006 5 6
2007 7
5. Recommendation
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loss is even graver if the efficient employees of the
organization switch to their major competitors.
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To get more work out of the employee, HSBC can make a
provision of Bonus. By this employee will be able to relate
himself with the company’s profit and hence will work hard.
This bonus should be productivity based.
Employee empowerment
HSBC Management can increase sense of belongingness of
each employee so that they can also feel themselves as
important as their officers in higher hierarchy. If employees
can develop this sense of belongingness then, they will
reconsider leaving the company.
Loyalty Bonus
HSBC can introduce a Loyalty Bonus Program in which
Management can reward employees after a successful
completion of a specified period of time. This can be in the
form of Money or Position.
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Involve in the decision making
Surveys
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the employee turnover and create a bond with the
employees.
5. Conclusion
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Appendix—
Questionnaire:
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Thank you for your time and cooperation.
Sincerely
a. Male b. Female
…………………………..
a.Top
b.Mid
c. First line (low).
a.1-2 years
b.2-3 years
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c. 3-4 years
d.4-5years
e.5years above
a. Yes b. No
a.Incompatible salary
b.Job position
c. Limited opportunity for personal growth
d.Other (specify) ______________.
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a.Target oriented
b.Routine work
c. Both
a.Stressful
b.Challenging
c. Interesting
d.Boring
5 4 3 2
1
| | | |
|
5 4 3 2
1
33
| | | |
|
5 4 3 2
1
| | | |
|
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Employees intention about switching the
existing job-
Frequency Percentage
Yes 3 10%
No 9 30%
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Emplyees intention
60%
50%
40%
30% Percentage
20%
10%
0%
Yes Not sure No
nature
of job
Highly 33.33% 33.33% 33.33% ------
Satisfied
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Dissatisfied 67% ------ ------ 33%
Highly Satisfied
Satisfied
Highly Dissatisfied
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Hectic work schedule
30%
Target Oriented
50% Routine work
Both
20%
Involuntary turnover---
Year No Of Average
Employees turnover
2006 5 6
2007 7
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Involuntary turnover
8
7
6
5
4
3
2
1
0
2006 2007
No Of Employees
Reference:
• www.hsbc.com
• www.gmi.org/research/websites.htm
• www.cipd.co.uk/surveys
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• TAYLOR, S. (2006) ‘Are you keeping your
employees happy?’ The HR Director. . London:
Chartered Institute of Personnel Development.
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