Professional Documents
Culture Documents
Table of Contents
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Content
Introduction Eligibility Criteria for applying HR policies followed in Barclays Recruitment Performance Appraisal Policy for employees requiring improvement Training & Development Compensation & Benefits Exit Interview
Introduction
Barclays is currently the fourth largest retail and business bank in the United Kingdom. It is also one of the top ten largest financial banks in the world. The bank has been banking for more than three hundred years ago, in the city of London. . In 1690, the bank was established by John and his associate, Thomas Gould, in Lombard Street. In 1736, the business was renamed as 'Barclays' when, James Barclays (who had married to John only daughter) became a business partner. The bank was involved in protecting their customer's (goldsmith bankers) gold deposits, and loaning money to worthy monarchs and merchants. We have been in India for nearly three decades, through Barclays Capital , a leading Investment bank and more recently with our retail and commercial banking services in Mumbai, Pune , New Delhi, Hyderabad, Kanchipuram, near Chennai, Jamnagar, Ahmednagar, Rajahmudry , and Nelamangala near Bangalore.
Company Profile:
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management. It operates through branches, offices and subsidiaries in the United Kingdom and overseas. Barclays has two business groups: Global Retailing and Commercial Banking, and Investment Banking and Investment Management. Global Retail and Commercial Banking includes UK retail banking, Barclays Commercial Bank, Barclaycard, Global Retail and Commercial Banking (GRCB)-Western Europe, GRCB-Emerging Markets and GRC-Absa. Investment Banking and Investment Management includes Barclays Capital, Barclays Global Investors and Barclays Wealth. In March 2010, the Company reorganized its activities to form three business groupings: Global Retail Banking (GRB), Corporate and Investment Banking and Wealth Management (CIBWM), and Absa. In April 2010, Barclays PLC acquired Italian credit card business of Citibank International Bank plc.
disadvantaged people who are excluded from, or have limited access to, formal or informal financial services Impact :To achieve a positive socio-economic impact on disadvantaged and vulnerable people through the provision of basic financial services within communities, the development of add-on services such as training on entrepreneurial skills, and the improvement of the existing savings-led community finance methodology Inclusion: To improve marginalized communities level of financial inclusion through the use, and trial of, informal and formal financial products, services and channels tailored to their requirements.
A strong record of academic achievements Degree holder/ masters Strength in conceptual and analytical skills Extracurricular activities Community involvement Excellence in interpersonal, communication and team skills Willingness and ability to work as part of a team Demonstrate adaptability, initiative and resourcefulness Presentation skills
HR manager (Barclays) discussed some of the important tips to make a successful hiring: Forecasting Turnover Rate Annually. How many people to be called for requirement. How many leaves within a year. Deciding for the quantity of people needed. Identifying KSA (Knowledge Skill Ability) & experience for the job. Job Description & Job specification Attracting people for available position. Recruitment Interviewing them for Position Offering Position
Some of the controllable factors that affected the employees turnover :Retirement Promotion Transfer, Termination Some of the uncontrollable factors that affected the employees turnover:Marriage Resignation Returning to college changing career.
I. Recruitment
Recruitment is the process of attracting, screening and selecting qualified people for a job in an Organisation.
Consultancies Walk-in-Interview Employee reference Campus placements Online job portals (promotion purposes)
Internal
Internal Job Posting(IJP) The main source of searching applicants for Barclays is through consultancies. Another important source is internal job postings. Barclays is dedicated to assisting employees to reach their professional goals through internal promotion and transfer opportunities. One of the tools the company makes available to employees in managing their career is internal job posting. This procedure enables current employees to apply for any available position either before or at the same time the position is advertised outside of the company.
1.
Telephonic Interview
Interactive Interview
Group Discussion
Personal Interview
1.Telephonic interview
Interview process begins with the first round of interview i-e telephonic interview. Applicants will need to go through before they are hired in the company. Barclays use this interview to satisfy the dual motive of; a. Lowering their expenses b. Screening a large no. of employees. This non automated interview is conducted to know the persons effectiveness on giving answers & focus is on tone of applicants voice. Selected candidates are called for other interview rounds.
2. Preliminary Interview
Preliminary interview, also known as screening interview, is used to weed out those candidates who do not meet the minimum criteria laid down by the organisation. General introduction of candidates is the main question to be addressed and also to check whether they meet the eligibility criteria according to Job description & job specification. HR executives select candidates meeting the eligibility criteria and they are promoted for the next round.
3. Interactive Interview
The main purpose of this interview is to test the Inter-communication skills of the applicant. As Barclays deals with International customers; this interview is of prime focus. In this interview a Senior HR executive conducts an interview of the selected applicant to test the command over language (English) of the applicant. Applicants are allowed to speak on for 4-5 minutes in the given topics.
4. Group Discussion
Applicants clearing last three rounds are have to go through a Group discussion round. It is conducted to judge the following: Ability to work in a team Communication Skills Reasoning ability Leadership Skills Initiative
Assertiveness Ability to think on ones feet. Employees & managers have to go through team work in an organisation. Therefore Interaction in an group is an important criteria for selection.
Offer Letter
Offer letter is given that confirms the details of an offer of employment to the selected candidates. The job offer letter includes details such as job description, reporting relationship, salary, and bonus potential, Benefits, vacation allotment, and more. The candidates are not allowed to disclose their details regarding packages, and their profile as per security reasons. Only Entry exit pass is issued in lieu of ID cards. Visiting cards are issued only for B2B purposes.
Mid-Term Appraisal:
When employees complete their 6 months of Probation period, they have to undergo a performance appraisal which involves following steps 1. Filling a self appraisal form. 2. One on one interview with the Team manager to assess the employees performance & also to get feedback. Employees are then rated on the basis of mid-term basis according to their performance:
Rating
A++ A+ A B+ B C
To know the strengths and weaknesses and the areas of improvement. To evaluate and compare the performance of an employee in contrast to other employees. To discover hidden skills and talent. To assess whether the employee is on the right job or not. To know about the career opportunities that should be provided to an employee.
Also from the administrative point of view: Barclays perform performance appraisal which serves as a feedback for the firm.
Annual Appraisal
Annual appraisal involves the same process as in midterm appraisal & then employees incentives are decided on the basis of rating.
Theory Implication
Vrooms Expectancy Theory
Valence Instrumentality Expectancy
Effort
Performance
Reward
Higher the effort higher will be the performance. Higher performance will lead to promotion, hence more valuable rewards Thus, Barclays motivates its employees on the basis of Vroom Expectancy. They mainly focus on giving recognition to employees for the efforts put in by them. Company is offering following benefits to its employees:
Award for Performance Star Performer- For Outstanding performance & achieving all 1 the given targets. 2 Newton Award- For the new Employees who performed well. Best Customer service award- If an employee is appraised by 3 the customers.
Apart from these awards bank also provides the following: 1. Goodies 2. Voucher of Shopper stops. 3. Money Barclays believe there employees to be committed; thus promote various events to make employees feel comfortable with the working environment. For e.g. allowing Casual wears & Flower day etc.
Team Work Building Barclays focus on building team work skills of employees ; thus organise various Team play games.
Performance Improvement Plan
Reffered HR
3. Referred to HR(RHR)
RHR would be given to the employees who are not able to make up to the standards after completing the PIP & CAP. They are asked to resign from the job.
Organisation follows RHR rather than firing employees. IV. Training & Development
For training & development of employees Barclays provides two types of training. Training is provided on weekly or monthly basis.
Process Training
Process training is provided on the basis of knowledge & technical skills required to be learned as per the job profile. It includes the following: Computer Application Skills Code of conduct Dealing with customers Dos & Donts- Very important to know the rules Power of each & every member of the organisation. Employees can anytime consult HR for any queries.
Barclays is a bank with customers overseas. Thus it provides timely training to its employees regarding voice & accent to improve it over time.
Rapport building with its customers is mainly an important task for the bank thus it focuses on providing appropriate training for regional Language mainly British English. Regional knowledge has helped Barclays in gaining customers; mainly during the time of Barclays Premier League.
Refresher Training
Refresher training is provided one week prior to the technology to be used. This would be provided as when there is new technology or software is to be implemented. Other steps in training include: Assigning projects to the employees Working in TSS (Team Support System) for assisting managers. Presentations.
SWOT Analysis
Strengths 1. HR policy is strengthening by internal job postings. The company allows the employee to
manage their career through internal job posting. They can apply to any available position which assists employees to reach their professional goals. 2. A systematic & orderly performance appraisal of the employees gives motivation to perform better. It discovers hidden skills & talent of an employee.
3. Barclays provide comfortable working environment to the employees. It values the social needs of employee thus organizing games, providing shopping vouchers. 4. Policy for improvement of employees gives a distinct position to Barclays. They offered 5 months to employee to improve & correct their performance.
Weaknesses 1. Telephonic interview cuts the expenses & screened a large no. of
employees although it is not fair for example due to illness a person could not respond properly then he will be out from the selection process. 2. Preliminary & Interactive interview are taken to check the eligibility criteria & command over language this can be checked in one interview. The interview undertaken by the operation manager can be accompanied with the personal interview. The suitability of a candidate for a department can be checked in personal interview. As this lengthen the interview process unnecessarily.
Opportunities 1. Barclays allows the employee internal job posting so that the company saves the time as well as
money regarding new vacancies. So that should be encouraged. If the position is not filled internally then they should go for the recruitment. In the internal job posting the employee already well known with the company, the time to train a new employee can be saved.
2. Performance appraisal should be promoted because the employee will perform well to achieve
good rating. This will create a competitive environment and enhance companys efficiency. 3. Barclays values the social & cultural values of employee. There is huge opportunity for the company to upgrade this to get sustainable & good working environment. Moreover, incentives in cash and kind helps the other people to attracted to get work with Barclays.
Threats
1.
Interview process should be reviewed & shorten. Eligibility and command over language should be checked in an interview. Otherwise the lengthy process will hesitate a new person to apply. This threat is to be converted into strength by company ASAP. Telephonic interview should be reviewed & revised to give the right person the right chance. Sometimes the person with good command over language and has good tone will be selected even if he is not eligible. Or maybe the eligible person will be disqualified if he is ill or have throat problem. 3. Policy for improvement although is like giving another chance to employee. But sometime person did not understand the concept and enjoys 5 months without work.
2.
Conclusion
Barclays follow a very attractive policy for selection & recruitment though its one of the toughest companies to get placed due to the long & complex interview process. As an employee of Barclays one will enjoy certain benefits as its directly related to the conscientious endeavor put in by an employee. Barclays aims at overall development of employees by providing various types of compensation & benefits. It follows a very humanitarian approach for its members. Thus, its a dream organization for anyone to work with.