HRM IN STANDARD BANK

SHRI CHINAI COLLEGE OF

COMMERCE & ECONOMICS

TYBBI

GROUP NO - 7

PROJECT ON –
HRM IN STANDARD BANK

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 HRM IN STANDARD BANK

GROUP MEMBERS
No. PARTICULARS PAGE-
NO
1
NAMES INTRODUCTION
ROLL4 NO
2 ROLE OF HRM IN BANKING 5
3
SWATI PADHIYAR
OBJECTIVE OF HRM IN STANDARD BANK
26 6-7
4 JEET PARMAR
PROCEDURE OF HRM IN STANDARD BANK 288-14
5
ASHISH PATHAK
ROLE OF HR MANAGER IN STANDARD BANK
30
15-16
6 CONCLUSION 17
PRATIK PUJARA 34
SHREYANSH SHAH 42

CONTENT

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1. INTRODUCTION

STANDARD Bank is a commercial bank established in 2001.The STANDARD Commercial

Bank Ltd. was born with its Registered and Head Office at MUMBAI. It comprises of
professionals like accountants, management experts, economists, in its Board of Directors.
Commercial Bank has stretched out to of all segments of the economy - be it agriculture,
industry, trade and commerce, services or infrastructure. Within short Period Bank expanded
rapidly.
Branches & ATM Services:
STANDARD Bank has about 28 Regional Offices spread all over India. STANDARD bank has
a total of 123 ATMs across the Major cities of India.

Banking products:
Current Account
Savings Account
Fixed Deposit
Recurring Account.

Advances
i. Loans – a) Salaried loans b) Business Loans
ii. Overdraft
iii. Consumer loans

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2. ROLE OF HRM IN BANKING:

• Human Resource Management is the function within an organization that focuses on

recruitment, management and providing direction for the people who work in the
organization.
• Human Resource Management is the organizational function that deals with issues
related to people such as compensation, hiring, performance management, organization
development, safety, wellness, benefits, employee motivation, communication,
administration, and training.
• Service sector like bank are entirely dependent on knowledge, skills, expertise, attitudes
& quality of human resource for growth & success. Hence effective management of
human resources is extremely critical in banks.
• Human resource management in banking concentrates on building employee capabilities.
Employee capabilities serve as the trigger and create growth opportunities for the
organization.
• As employee capability is the key link to success in bank the HR department becomes a
“strategic capabilities unit”. Some key functions of the HR department in banks are :
1. The use of individual team & organizational learning for serving the customer in
the better way.
2. Ensuring that employee’s knowledge & skills are kept up to date.
3. Aliening the HR development & learning strategies with the overall strategies’ of
the banks.
4. Devising strategies to motivate the employees by means of suitable compensation
structure.

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3. OBJECTIVE OF HRM IN STANDARD BANK

• AVAILABILITY OF COMPETENT MANPOWER

The primary objective of STANDARD bank is to ensure the availability of competent
and dedicated manpower. Therefore bank is most concern with scientific recruitment &
selection of manpower.

• EFFECTIVE USE OF MANPOWER

After selecting employees we placed them at the right place of work. Proper placement
helps to make effective use of manpower.

• MOTIVATION OF MANPOWER
Manager constantly try to motivate manpower by providing rewards & incentives &
make attempt to device the best possible compensation package to employee.

• BUILDING MORALE OF EMPLOYEES

As teamwork is vital to the success of the banking organization Hr manager
constantly make efforts to improve employees morale by inviting suggestion from
members and providing incentives.

• DEVELOPMENT OF EMPLOYEES
The Hr manager makes efforts to create the right environment to develop the careers of
employees within the organization.

• INTEGRATION OF INDIVIDUALS & GROUPS

Bank creates an environment where individual & groups feel a sense of commitment,
involvement & dedication.

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• WORKING RELATIONSHIP
We have clearly defined the Authorities & Responsibility of each employee clearly & its
relations with other jobs in the organization.

• CORPORATE IMAGE
The Practices adopted by Manager have a direct impact on the corporate image of the
bank.

• SOCIAL OBJECTIVES
Nowadays we have to fulfill social responsibilities by taking appropriate measures
towards social development including environment conservation.

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4. PROCEDURE OF HRM IN STANDARD BANK

I. HR PLANNING AT STANDARD BANK

There are three recourses that are critical for each & every Bank to be successful & attain
goal are:

1) FINANCIAL RESOURCES (MONEY)

2) PHYSICAL RESOURCES (BUILDING & EQUIPMENT)

3) HUMAN RESOURCES (PEOPLE)

While managers pay a great deal of attention in the planning of first and second
resources, human resources are often neglected or taken for granted. This is the terrible
mistake because no organization can be successful in the long run without having a right
number and a right kind of people doing the right jobs at the right time.
Hence in order to become successful STANDARD Bank has adopted effective
strategies of human resource management

OBJECTIVE OF HR PLANNING.

• To ensure optimum use of existing HR.

• To forecast future requirements for HR.

• To provide control measures.

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• To link HRP with Organisational Planning.

• To determine levels of Recruitment and Training.

• To estimate cost of Hr and Housing needs of Employees.

• To meet the needs of Expansion and Diversification programmes.

• To assess shortage and surplus of Hr.

II. RECRUITMENT AT STANDARD BANK

Recruitment is the process of gathering a group of qualified applicants. It includes tasks like
writing a job description and job postings, and going through the steps of posting it internally
(e.g. bulletin boards, intranet, email notification), externally (e.g. newspaper ads, temp agencies,
internet), or both. The recruitment process for branch managers at STANDARD bank begins
with the placing of advertisement in popular national and regional newspapers across the
country.

Candidates applying for the post of branch managers should be between 25 to 35 years of age.

They should hold a graduate/post graduate degree , MBA in marketing or finance or in HR

Candidates from certain backgrounds (sc, st, obc) are given some concessions with regard to age
and marks.

Short listed candidates are asked to appear for an entrance examination. The entrance
examination has two papers

One is of objective type and the other one is an essay type. The objective type paper tests
intelligence, aptitude, mathematical knowledge, logical reasoning, general knowledge, and
awareness of political and cultural events.

After the written test, candidates have to appear for interviews, which are conducted by our bank
across the country. Based on their overall performance, candidates are selected.

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III. SELECTION AT STANDARD BANK

Selection is the process designed to determine the most qualified candidate from the group of
applicants. It includes tasks like reviewing resumes, interviewing, work related testing, reference
checks and the final employment offer .

PRELIMINARY INTERVIEW

APPLICATION BLANK

SELECTION TEST

EMPLOYEMENT INTERVIEW

MEDICAL EXAMINATION

REFERENCE CHECKS

FINAL SELECTION

IV. INDUCTION AT STANDARD BANK

STANDARD bank has recognized the importance of induction. Evidence of this can be seen in
the HRD handbook of the bank. The handbook has a chapter that advices manager on the
objectives of induction and the system to be followed.

SYSTEM

The Branch managers/ section In-charge conducts the entry interview of the new employee on
the first day immediately on his joining the Branch/Office.

The interview has to be conducted in a friendly atmosphere and the employee is made to feel at
ease.

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Through the interview the manager elicits the background of the employee- family and
profession , his goals in life, his capabilities and potentials.

The manager finds out the needs of the employee at the new place and helps him to settle.

The manager introduces the new employee to his colleagues.

A handbook “ step into the family for an enriching partnership” is given to the employee.

V. PLACEMENT AT STANDARD BANK

STANDARD BANK carries out placement function by placing the right person for the right
place of work. This facilitates not only job satisfaction but also result in higher efficiency of the
employees. As placement is the assignment of individual to jobs, Standard bank carry out an
placement function in order to provide job satisfaction & gain higher efficiency, as well as
proper placement reduces absenteeism & employee turnover.

VI. TRAINING AT STANDARD BANK

The STANDARD BANK training philosophy is proactive, planned and continuous. It is an

integral part of organizational development. It seeks to impart knowledge, improve skills and
reorient attitudes for individual growth and organizational effectiveness.

The HRD mission of STANDARD BANK is to enable every individual to realize and activate
his potential, as to the achievement of the BANK’S goals and derive satisfaction there form.

At the apex level, an academy has been established at Gorgon near Delhi. This academy provides
to the top management of STANDARD BANK and also to officials forms other banks. Every
training center is equipped with modern infrastructure facilities and has a suitably trained faculty.

The management of the training system is overseen by the chief General Manager at the Central
Office of the bank in Mumbai.

At each training center, various programs are conducted throughout the year for employees in
various cadres. The programs are designed in such a manner so as to help develop the

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employees’ ability to work more efficiently and without mistakes. This ultimately benefits the
employee as well as the institution.

VII. PERFORMANCE APPRAISAL BY STANDARD BANK

Performance appraisal refers to identification of strength &weakness of the
employees, relating to their jobs. The performance Appraisal function is
conducted by the standard bank manager in order to find out whether the existing
employee has the necessary quality as per the jobs requirement. If there are
weakness, then additional training or some other measures are undertaken by the
bank.
The manager of Standard bank is involve in designing or undertaking
performance appraisal programmes in the organization, proper performance
feedback given by the manager to the employees helps to correct their weakness
& to consolidate their strength.

VIII. TRANSFERS IN STANDARD BANK:-

In the STANDARD banks, the transfer of officers in the junior management and
senior management grades are governed by government regulation.

The rules and regulations that govern the transfer of officers in STANDARD banks:-

1. Every officer is liable for transfer to any office or branch of the bank or to any place
in India.
2. In case of administrative exigencies the bank has the right to effect any transfer
whether or not in conformity with the transfer guidelines.
3. Transfer may take place at regional, zonal or inter-regional level.
4. Inter region transfers are usually decided by the central office.
5. The normal tenure / term of an officer is 3 to 5 years. However for ‘specialized’
officers this would be 5 years.
6. No officer is to be transferred before the completion term of at least 3 years.

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7. An extension beyond 5 years is considered only in exceptional cases. Even in such

cases maximum extension is of 1 years

IX. COMPENSATION FUNCTION:

Standard bank provides compensation & incentives refers to money & other benefits given to
an employees for his services to the bank. Standard bank provides various packages of
compensation to their employees such as:

• Salary.
• Bonus
• Incentives
• Special incentives
• Perquisites
• Profit sharing
• Skill based pay

X. BUILDING GOOD RELATION:

The primary function of the standard bank is to build good relationship with employees &
create a goodwill & corporate image in the minds of the customers. As in today’s modern
globalized business world building good relationship as well as maintaining the same, help
the bank to achieve their goal effectively. So Standard bank maintain good relationship with
customer/client by solving their grievance as soon as possible.

XI. SAFETY/SECURITY FUNCTION:

Standard banks have taken major steps regarding safety & security for the employee as well
as bank. Proper job analysis which is done by standard bank which leads to discover unhealthy
& hazardous environmental condition in various jobs. Heat, noise, dust etc are the example of
such condition. Such information collected from analysis helps the manager to take corrective
steps by minimizing or avoiding the possibility of Accident & thus to ensure safety &security of
employees.

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XII. CAREER DEVELOPMENT:

STANDARD BANK facilitates career development of the employees. It means continuous
effort to match long term individual &bank needs. Standard bank also fulfill career aspiration
of the employees in the light of the organizational goal. Career development conducted by
Standard bank not only helps the employees concerned but also the organization to become
dynamic & growth oriented.

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5. ROLE OF HR MANAGER IN STANDARD BANK

1)Managers act as a bridge between its functions & strategies.

We follow integrated function approach with its corporate strategies it means we play a
coordinated role between functions & strategies.

2) Developing integrated HR system

We ensure that all the policies & programs are designed and integrated with each other so as
to create a highly dedicated and committed work force.

3)Collecting information from researchers.

We collect all the required information from researches to solve problems relating to banking
activity. It also helps in making policies and strategies.

4)Manages the workforce diversity.

Managing diverse workforce is the challenge before managers therefore manager need to
design effective programme to get best out of diverse workforce.

5)Multidisciplinary approach

Manager aims to improve individual, group & organizational effectiveness it involves the
use of various discipline of social science.

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6)Proactive actions.

Hr Managers of STANDARD bank take proactive action rather than reactive actions.
Proactive actions helps to handle activities or issues effectively before any issue become a
problem for the bank.

7)Work to gain long term benefit

Hr manager brings long term benefits not only to banks but also to its employees and
customers.

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6. CONCLUSION

Human resources management has played an important role in the STANDARD BANK to a
great extend by providing various benefits to the employees, banks .HRM act as a bridge
between its function & strategies. Effective management has helped the bank to gain the extra
benefit in today’s competitive business world by utilizing the human resources in a significant
manner. Nowadays STANDARD bank emphasis is to implement an innovative steps in order to
manage Financial, Physical & Human resources in a significant manner.

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