Professional Documents
Culture Documents
COMPANY OVERVIEW:
China, South Africa , Zimbabwe, Malaysia and even during the siege of
Marketing in South Africa. Today Standard Chartered is still one of the
three banks, which prints Hong Kong’s bank notes.
1.2 PAKISTAN
The new millennium bas brought with it two of the largest acquisitions in
the history of the bank with purchase of Grindlays Bank from the ANZ
Group and the acquisition of the Chase Consumer Banking operations in
Hong Kong in 2000.
2. INTRODUCTION:
2.1 OBJECTIVE:
The Research has been undertaken to assess the Training & Development
practices of Standard Chartered Bank with the prime focus at how these
formulation of strategies and tactics contributes in enhancing the
employee’s performance.
2.2 METHODOLOGY:
The information related to the project has been collected from the
Standard Chartered Bank, Imperial Court. The methodology adopted is as
follows:
3. LITERATURE REVIEW
“Choose always the way that seems the best, however rough it may be,
custom will soon render it easy and agreeable.” Pythagoras Intuitively,
there are numerous benefits to regionalizing the payments function of
Standard Chartered Bank. This is particularly true where it has the critical
mass to justify an undertaking of considerable size and complexity.
Frequently mentioned benefits include: economies of scale, increase
control managed by a small, high quality team and standardization of
processes, amongst others.
Banks may be guilty of reinforcing the ad hoc approach if they do not take
the time to understand their customer’s strategies, objectives and type of
businesses, and make recommendations that may not have been originally
considered. This can be a function of whether the service provider
considers the implementation of capabilities as simple sale or the start of a
long-term implementation.
To steadily develop the lending business and upgrade the quality of loan
assets.
In lieu of Islamic banking the Bank aims to aggressively promote fee-
income business to raise non-interest revenue sources.
To provide efficient services to fulfill customers needs and create a high-
quality service image.
To actively set up business units in major business centers of the country.
To aggressively develop international banking operations and seek
opportunities to develop strategic alliances with other banks to create new
products and services.
4 Deposits
5 Loans
6 Domestic Banking
7 Trust Operation
8 Treasury Operations
5.2 Forecasting:
It’s easy to shift responsibility and say that personnel and human resource
departments should carry out HR planning, but it should be the concern of
every manager. As the Bank operates in a dynamic environment where
new and advanced practices are frequently emerging resulting in changing
customer’s requirements.
What the employee can expect to experience during initial 2 years training
is a blend of core and discretionary elements, such as:
Induction i.e. the processes that introduces the new entrant to the bank,
the employee’s own business or function and particular department.
Training in specific products or technical skills.
Work-based assignments in respective business or function i.e. doing a job
in a particular department for a period of time.
Development and training does not stop after two years. After this initial
training, the employees are faced with internal development programs,
business-related studies and professional qualifications, and the bank also
offers the opportunity to develop skills through externally accredited
courses. These are designed in conjunction with top universities and
business schools including postgraduate, MBA.
Accreditation Internal
Induction Course
11.1 Orientation:
Every staff member joining Standard Chartered Bank has to attend a 2-day
comprehensive orientation to get a feel about the Bank and its business.
This orientation program provides a good chance to meet with seniors &
colleagues and to build up the team spirit.
The bank provides a lot of skill related training e.g. credit workshop, sales
& negotiation skills, project management, etc. to help staff enhance their
skill in particular aspects.
11.5 Self-learning:
The bank sends out CDs and books to staff for them to study on trade
knowledge, credit knowledge, etc. and staff will decide when he/she will
attend the Trade Skill Assessment (TSA) and Credit Skill Assessment
(CSA).
Standard Chartered recognizes that it is essential that they have the best
people equipped with the right skills and knowledge to perform their roles
to the highest standards. They went talented professionals, who seek self-
development opportunities including continuing professional development.
In return the Bank offers excellent training and development. They focus
development on where they believe that they will get the greatest return,
by developing employee’s strengths.
12. Recruitment:
Bright, young graduate or a postgraduate, who cannot wait to start his/ her
career in the financial services industry.
Consistent academic performer throughout his/her education.
Career-oriented person
Energetic, ambitious, innovative and business-oriented person.
Recruitment Criteria:
Standard Chartered Bank recruits the most talented individuals from the
external market to supplement their internal pipeline of talent. Their Human
Resources department provides guidance on the us of psychometric tests
and has robust recruitment criteria to ensure that all candidates are treated
fairly, equally and with respect. It has a global Graduate Recruitment
Program; where in the region of 150 graduates are recruited each year on
a management trainee program across all businesses, functions and
countries.
12.2 Selection:
each individual brings to the roles they carry out and the development of
these strengths.
Standard Chartered Bank believes that the health and well-being of their
employees and their families is important. They are concerned not only
about the physical health of their employees, but also their mental and
emotional well- being. Standard Chartered has policies & practices that
provide for a safe and healthy working environment. They place
importance on the safety and well-being of their staff, communities and on
the effect it’s working and operational processes have on the environment.
They are continually developing policies and practices designed to
maintain the highest appropriate standards.
Standard Chartered Bank aims to reward the talented and high performing
employees competitively. They regularly conduct salary surveys to ensure
that the reward package remains competitive in the market place. They
encourage continuous discussion; encourage regular review of employee’s
performance and development. This provides feedback to the staff about
how they are doing. The management links this to both financial and non-
financial recognition.
In addition to this, the bank provides various incentives in the form of
bonuses to encourage the employees and motivate them to continue with
their high performance. These include:
♣ Spot Award + Rs. 5000 as cash prize
♣ Surprise Award
This means a job that not only is reasonably safe but also for which the
pay is equitable. At Standard Chartered Bank every employee in confident
of his job security and has the assurance that he would remain on the job
for the agreed period. In addition to this, the workload is equitable divided
between the employees and therefore, they work with peace of mind and
tranquility, resulting in the overall enhanced performance of the
employees.
Both the employees and the management try to meet the common
objectives. They coordinate their activities to ensure that they are heading
towards achieving the established goals and meeting the set targets within
the specified time frame.
The Bank aims at hiring specialized people and their recruiting criteria are
based on their knowledge, expertise, past working experience and their
exposure to the professional fields. Employee wages are set in accordance
with the aforesaid recruitment criteria and most of them are intent with
what they earn at Standard Chartered Bank
The Bank improves the quality of work life by assigning various tasks to
the employees so as to equip them with the different services offered by
the Bank. Job expansion includes job enlargement, rotation, enrichment
and empowerment.
For enhancing the skills and abilities of the work force, the psychological
components of job design are also catered for by Standard Chartered
Bank. These psychological components focus on how to design jobs that
meet some minimum psychological requirements of the employees. These
♣ Skill Variety
♣ Job Identity
♣ Job Significance
♣ Autonomy
♣ Feedback
19. Analysis
19.1 Training