You are on page 1of 27

History

Standard Bank Limited (SBL) was incorporated as a Public Limited Company on May 11, 1999 under the Companies Act, 1994 and the Bank achieved satisfactory progress from its commercial operations on June 03, 1999. SBL has introduced several new products on credit and deposit schemes. It also goes for Corporate and Retail Banking etc. The bank currently has 68 branches all over the country. The Bank also participated in fund Syndication with other Banks. Through all these myriad activities SBL has created a positive impact in the Market.

Vision
To be a modern Bank having the object of building a sound national economy and to contribute significantly to the Public Exchequer.

Mission
To be the best private commercial bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability.

Core Values

Our Shareholders: By ensuring fair return on their investment through generating stable profit. Our customer: To become most caring bank by providing the most courteous and efficient service in every area of our business. Our employee: By promoting the well being of the members of the staff. Community: Assuring our socially responsible corporate entity in a tangible manner through close adherence to national policies and objectives.

1|Page

Organizational Hierarchy of Standard Bank limited:

GM DGM AGM
Manager
Assistant manager Senior officer
Officer Officer

Manager
Assistant manager Senior officer
Officer Officer

Manager
Assistant manager Senior officer
Officer Officer

Products/Services
As a commercial bank Standard Bank provides all general banking services like Savings Account, Current Account and STD Account. It issues Demand Draft, Pay Order for transfer of money. It has provisions for other Deposit Schemes as well. The deposit schemes offered by SBL are appended below.

SBL Regular Deposit Program (SRDP) SBL Regular Income Program (SRIP) SBL Double Income Plus (DI+) SBL 5(Five) Lacs Savings Scheme SBL 10(Ten) Lacs Savings Scheme SBL Lakhopati Plus (SLP+) SBL Millionaire Plus (SMP+)
2|Page

As special products Standard Bank has provisions for Consumer Credit Scheme and House Building Loan for its customers. Other Fields of Activity In addition to above SBL performs Corporate Banking, SME Banking, Merchant Banking, Islami Banking and Remittance Services. Corporate Banking SBL furnish assistance to deserving candidates in Export and Import businesses. For importers it ensures documentary credit to you through L/C. It may also arrange back to back L/C in appropriate case. For export traders Standard Bank provide verities of services to enhance the business. Standard Bank distributes term loan for industries. This loan is for Large, Medium and Cottage industries of the country. SME Banking SBL extends financial cooperation to small and medium scale enterprises of the country at the time of necessity. As the SMEs contribute substantially for the national economy these program enhances the overall progress of the country. Remittance and Services For providing services to Bangladeshis working abroad Standard Bank maintains three Exchange Houses, one in the U.K and two in US. Treasury Unit of Standard Bank operates in foreign exchange market and money market of the country. The daily products in foreign exchange are: Spot Dealing, Forward Dealing, SWAPS, Forex. Islami Banking Standard Bank provides different deposit accounts and deposit schemes under Islami banking head. All these schemes and products are designed in compliance with sariah and Islamic values. Other Products and Services SBL has Locker Service for safe keeping of your valuables. Most of the major branches provide this service. Debit and Credit card services are presented by SBL to its clients at a very reasonable charge. It provides cards for Local, International and Dual services.
3|Page

Main body of the Report:


A. Strategy & HRP
A.1. Staffing strategies (levels and quality) taken by the Standard Bank:

Standard Bank Limited used to go for both acquire & development process .They basically choose acquire for lower level employees, as they are mostly new in organization & the number of such kind employees are always high. But in terms of higher level, Standard bank always follow development process, so to motivate their existing employees as well as reward the deserving candidates. That means, they recruit internally for higher level position. They always follow lead system so that the scarcity of workforce can not hinder their growth or success. They only offer full time workforce in their organization to do the tasks. All of the employees of Standard bank are Bangladeshi citizen.

A.2. Initial decisions taken before starting HRP

Before doing human resource planning Standard bank first choose whether they will go for plan or project based. Generally they always prefer long term decisions, means plan based process. They took it as a part of their core business plan. But sometime they go for project based planning such as opening SME banking to any area far from capital city. They follow project base process to identify whether there are any possibilities of achieving their goal or not. Thats the reason they sometime go for project based but in most of the cases they go for plan based process, and usually the time frame is more than 3 years.

4|Page

B. Job Analysis

Theory

Job analysis is the process of analyzing subdivided work in the organization, both at the level of the individual job and for the entire flow of the production process. Job analysis is important as an organization can examine the jobs with a view to documenting the knowledge, skills and abilities.

Practice by Standard Bank


Standard bank follows job analysis process after every six months. They conduct job analysis in each and every posts they have in different departments they have in their organization to measure the job accuracy and job performance.

B.1. Methods used to data collection

i) Questionnaires: Numerous standardized questionnaires are used for job analysis. Standard
Bank also follows this method. They basically use this method for their managerial posts. They use different types of questions here. Some of the questions concern the followinga. Education, training and skill requirements to be successful in the job. b. Responsibility or accountability with regard to specific duties and tasks performed. c. Working conditions like whether the work is done by an individual or team, the job context, the working hours etc.

5|Page

ii) Observation: Standard bank follows this method. Observation of a job can be direct or
indirect. Standard bank basically follows the direct observation. Here the analyst observes the worker behaviors and the skills required for the job.

B.2. Role of job analysis information in HR activities


Job analysis information plays a vital role in the HR activities of an organization. Standard Bank Limited also gets benefit from this information in taking other decisions regarding HR activities. The sectors that get benefit of job analysis in Standard Bank are given below Recruitment and selection: Job analysis helps Standard Bank to attract a pool of candidates for recruitment if there is any vacancy and select the right person to the right position at right time. Performance appraisal: Standard Bank uses job analysis information to compare the actual job performance to the expected job performance. To motivate the employees they offer promotion if the employees fulfill the targeted job performance. They also provide corrective actions to the employees if needed to enhance the job performance and achieve the targeted goal. Job evaluation: Standard Bank use job analysis information to evaluate the jobs. They evaluate the jobs based on challenges, difficulty levels, required skills etc. On the basis of this they fix the salaries of their employees. Thus job analysis helps Standard Bank.

6|Page

C.1. Recruitment
Theory
Recruitment is a process of locating, identifying, and attracting capable applicants for vacant position of any organization. The purpose of recruitment is to ensure a sufficient pool of applicant from which the most qualified candidate is select. For recruitment, manager of any company publish advertisement in the print media. Recruitment employees through internet are known as E-recruitment. For this type of recruitment, manager uses website of their company and other online website. It is very cost effective process.

Practice by Standard Bank


Standard Bank Limited usually publishes advertisement in the print media, their web sites and other website such as bd. Jobs to attract the qualified employee for the vacant job. There is an icon available in their website named career where applicants find information about recruitment of Standard Bank Limited. They use a Bengali newspaper and an English newspaper for publishing their advertisement.

Standard Bank recuritment

Print Media

E-recuritment

Bengali newspaper

English newspaper

org. websites

Other website

7|Page

C.2. Internal Recruitment

Theory
Internal recruitment is a process of recruiting people within the organization. It is also defined as the practice of selecting candidates among present company workers to fill a position that becomes vacant. Workers in organization come to know about internal vacancies through many ways. The vacancies are generally advertised within the organization through a variety of media like Staff notice boards, Intranets, In-house magazines / newsletters, weekly staff magazine dedicated completely for advertising jobs within the organization, and Staff meetings.

C.2.a. Planning phase

The first step in this process is recruitment planning, which addresses both organizational and administrative issues. Organizational issues include mobility paths and mobility path policies. Administrative issues include requisitions, number and types of contacts, budgets, and the recruitment guide.

Organizational Issues

In the organizational issues Standard Bank limited follow the formal way for the internal recruitment of the candidate for the vacant position. In the mobility paths the company follows the traditional way for the internal recruitment. It include the upward movement such as executive get promotion to become senior executive, follow the promotional ladders and also internal employee who are skill enough for the position they compete for the vacant position. The bank follows this process as it is easy to identify the potential applicant for the vacant job as they are already known.
8|Page

Administrative Issues

Administrative issues include for the internal recruitment of the Standard Bank Limited are requisitions, number and types of contacts, budgets, and the recruitment guide line. Requisitions are a formal document that authorized the filling of a job vacancy mainly with the permission of the top management. In the number and types of contract the company follow how many applicant they need for filling the vacant position through analyze the historical data and what are the qualification the applicant need to have to perform the job are clearly established. The recruitment budgets are given by the HR department based on the number of applicant need. Finally the recruitment guide line is a formal document that details the process to be followed to attract applicant for the job. It includes details such a time, costs, staff and steps in recruiting to ensure consistency.

C.2.b. Strategy taken


For the internal recruitment the Standard Bank Limited follow the closed internal recruitment system. In this only the person who are been selected for promotion are known about it. As result the unwanted competition among the employee are reduces. That creates a positive impact on the environment of the organization. Another reason to follow this system is that, it takes less time compare to the open internal recruitment system.

C.2.c. Sources of candidates


As the Standard bank follow the closed internal recruitment system so the sources of candidate for the vacant position is skills inventories. The bank maintains their own HRIS (Human resource information system) to gather the adequate and relevant employee information for giving the promotion the employee. They always updated the information regularly, so they can have the information to give the promotion to the right person. This informations are kept secure so that everyone is not able to browse it.
9|Page

C.2.d.Communication Message

To communicate the job vacancy the bank follows the targeted system. Where the bank looking for the better person jobs matched and specifies the KSAOs to meet the requirement for the job. In that case HRIS software helps them much for find out the best suited candidate.

C.2.d. Communication Medium

The company mainly does it through the potential supervisor who provides the information to the employee about the vacant position and for fill up the vacant position. As a result only the employees who are selected for the vacant position are known about it.

10 | P a g e

C.3. External Recruitment


Theory
External recruitment is the process to identify and attract job applicants from outside of the organization. In external recruiting, the organization is trying to sell itself to potential applicants, so many principles from marketing are applied improve recruiting yields. Among these applicants hiring decisions are to be made.

C.3.a. Planning phase

The external recruitment process begins with a planning phase including both organizational and administrative issues. Organizational issues include in-house versus external recruitment locations, individual versus cooperative recruitment alliances, and centralized versus decentralized recruitment functions. Administrative issues include requisitions, timing, number, and types of contracts; the recruitment budget; and development of a recruitment guide.

Organizational Issues

The Standard Bank Limited has their, own in-house recruitment agency. As they have their own HR department so they maintain this. Also as the bank has the motivation of the growth so they develop their own HR department. Another thing they follow the individual recruitment , as in the banking sector there are not such a kind of cooperative culture are not develop in our country. As a result the competitors are not having the opportunity to get aware about their competitive advantage. The bank also takes the decision for the recruitment centralized basis. As it reduce the duplication of the task. It ensures the consistency and also the compliance with the law.

11 | P a g e

Administrative Issues
Administrative issues include for the external recruitment of the Standard Bank Limited are requisitions, number and types of contacts, budgets, the recruitment guide line, process flow and record keeping and selecting recruiters . Requisitions are a formal document that authorized by the top management with the permission of filling of a job opening. In case of number contract the bank analyze the historical data to find out pool of candidate the company need to have to fill up the vacant position. In case of types of contract the bank established the specific KSAOs the applicant needs to have to fulfill the job requirement. In the recruitment guideline the bank established a formal procedure that will be following at the time of recruitment. That ensures the consistency at the time of recruitment. In the process flow and record keeping, the bank keeps the record of every single task the recruiters and applicant perform at the time of recruitment. By keeping the record of this information the bank can able to cope up with the further recruitment task. As some time the candidate who have been selected for the job may not be interested to perform it. In that case the organization can offer the job to the second best candidate. In the final administration task the bank select the recruiters who will be perform the task of recruitment. It is very important to select the recruiters, because their efficiency will be determine the effectiveness of the total recruitment procedure. In the case of selecting recruiters they select them from the HR department and also from the department where the vacant position create. In that case they look whether the recruiters have good communication skill, good listening skill, and extroversion and have good knowledge about the job to select the best person for the job opening.

C.3.b. Strategy taken


The external recruitment for the job opening the Standard bank follows the targeted recruitment strategy to select the applicant for the job. In this case the bank identifies the particular segment where the qualified applicants like to be found. Like for the fresh graduate the bank targeted the university CSO. The Standard bank takes this approach to find out the applicant with specific characteristics. That will create the better person-job match. It also reduces the cost. As the recruiters need to screen the less amount of candidate resume.
12 | P a g e

C.3.c. Sources of candidates

Generally for the external recruitment the Standard bank find out the applicant through employee referrals and employee networks from the existing employee for the higher position. They also find the applicant from the online website. As in some website the candidates drop their resume. In case of getting the fresh graduate the career service office of the university also play a vital role. The major sources of finding the applicant are advertising on the newspaper and putting the job opening in their website and other online job recruiting website to find out the applicant. Some time the Standard bank also recruiting through the job fair, but the amount is very much low.

C.3.d. Communication Message


In the time of external recruitment the Standard Bank Limited communicate the message with the applicant through provide a realistic recruitment message and giving the targeted message. In the realistic recruitment message the bank provide what the task the applicant needs to perform in the job. They also specify what KSAOs the employee needs to have to apply on the job. Such as for the higher position they want the previous experience from that particular sector.

C.3.d. Communication Medium

To attract the applicant from the outside the Standard Bank Limited mainly uses the advertisement on the newspaper and the organization website and other online job recruiting website for the bottom level employee. For the mid and top level employee at first they call them or send email to drop the resume for the position. Sometime they arrange an informal meeting with them.

13 | P a g e

C.4. Selection

Theory
Selection is an exercise of prediction. The process of screening job applicants to ensure that the most appropriate candidates are hired is known as the selection process. It seeks to predict which applicants will be successful if hired. Here, successful means performing well on the criteria of the organization uses to evaluate employees. Any selection decision can result in four possible outcomes. Two of these outcomes would be correct and two would indicate errors.

Selection Decision
Accept Reject

Later job performance

Successful

Correct Decision

Reject Error

Unsuccessful

Accept Error

Correct Decision

Validity and reliability


The managers use selection processes that are both valid and reliable. Validity means the proven relationship that exists between a selection device and some job relevant criterion. Reliability refers to the ability of a selection device to measure the same thing consistently.

14 | P a g e

Practice by Standard Bank Limited

In Standard Bank Limited, managers select candidates by reliability. They select those applicants whose have done well in every part of the Selection examinations.

Analysis

Standard Bank Limited only follows reliability.

Selection devices

Selection Devices

Application From Written Test Performance Simulation Test Interview Background investigation Physical test

15 | P a g e

Application From
Theory
A well fill up application form is consisting of employees name, phone number, personal experience, skills and accomplishments. This is the first method for any employee to send a request to human resource manager for the selection process.

Practice by Standard Bank Limited

To fill up a correct application form is a common selection process for most of the organization. Standard Bank Limited follows this process to select their employee. With the application form they ask for Curriculum vitae including name, phone number, history profile, personal activities and achievements, skills and accomplishments.

Analysis
No gap was found.

Written Test

Theory
Typical written test include Intelligence to see how smart you are. Aptitude to know can you learn to do it.
16 | P a g e

Ability to see your capacity to do any work. Interest to see your eagerness to do any work.

Practice by Standard Bank Limited


After verification application form and before written test they call the applicants for a general conversational interview. Then they call those applicants who done well in this interview. They mainly take their written test based on four criteria. These are given below: Math Analytical ability General knowledge English

They take the math test to see an employees ability to perform necessary calculations. Analytical test to see an employees ability to cope up critical situation General knowledge test to see an employees knowledge in a broader sense English test to see employees ability in written and oral English.

Analysis
Some gap was found. They dont include any question regarding an employees feelings and aptitude. Standard bank limited mainly emphasizes on applicants intelligences.

17 | P a g e

Performance simulation test


Testing an applicants ability to perform actual job behaviors, use required skills and demonstrate specific knowledge of the job. Work sampling: Requiring an applicant to actually performs a task or set of tasks that are central to successful job performance. Assessment Centers: Dedicated facilities in which job candidates undergo a series of performance simulation tests to evaluate their managerial potential.

Practice by Standard bank limited


Standard bank limited does assessment centers rather than work sampling. They only do assessment centers for evaluating the performance of higher level job position.

Analysis
Some gap was found. They do not do work sampling because of high cost.

Interviews
Interview test is a very common selection process for all sort of organization. But a new approach that some companies are using is situational interviews means where candidates are evaluated on how well they handle role play in mock scenario. In this situational interview section the interviewers watch the candidates reaction of18 | P a g e

How he or she posses the information. How he or she interacts with the clients. His or her body language. Which words he or she chooses.

Practice by Standard bank limited

Though this selection process is a common selection process for any sort of organization, Standard bank limited also follows this process. But they do not take any situational interviews. The question asked by interviewers is mainly based on two areas General knowledge. His or her background related question. Some basic question about his/her educational background

They give chance to the candidates to ask some question to them at the end of the interview session

Analysis
Some gap was found. They do not take any situational interviews because This system is costly. Take time This system is complicated

19 | P a g e

Background Investigation

Theory
Background investigations are two types. Verification of application data that was filled by the applicant Reference check

Practice by Standard bank limited


They also follow these two systems for background investigation.

Analysis:
No gap was found.

Physical Examination

Theory

Useful for certain physical requirements and for insurance purposes related to pre existing conditions.

20 | P a g e

Practice by Standard bank limited


They take General Physical test such as Blood test, Random blood sugar- to screen diabetes, HIV 1&2 to screen AIDS etc. they do it for all level of employee.

Analysis:
No gap was found

Realistic job preview


Theory

Realistic job previews are strategy which is used in the early stages of personnel selection to provide potential applicants with information on both positive and negative aspects of the job

Practice by Standard bank limited


Although they do not follow this system but they said their employee that sometime they have to work overtime accept office hours. But they do not say any negative information about the job and the company.

Analysis
They do not follow this process

21 | P a g e

Selected Applicant

Physical Examination
Background investigation

Interview

Performance simulation test (higher level position)

Written test

Application Form

Figure: Standard Bank Limited Selection Process

22 | P a g e

Summary of the selection devices that are followed by Standard bank limited Numbers 1. 2. Selection Devices Application Form Written Test Performance 3. 4. 5. 6. 7. Simulation Interview Test Background Investigation Physical Examination Realistic Job Preview
Work sampling Assessment center

Practice by SBL

Gap NO NO YES NO NO NO NO YES

23 | P a g e

D. Human Resource Forecasting

Theory
It is an estimation of the number (quantity) and kind (quality) of employees the organization will need at future dates to meet its objectives. There are two important points related with the Human Resource Forecasting and those are-(a) A forecast that provides a total number and does not furnish a breakdown of that number, job by job, is an incomplete forecast. (b) Even with the most sophisticated computerized statistical technique, forecasting is an imprecise endeavor at best. Judgment plays a sizable role in forecasting. Common factors which have an impact on forecasting demand are- Seasonal Fluctuations, Interest Rate, Currency Exchange Rate, Competition, Industry and Economy. Human Resource Forecasting techniques may be divided into two broad categories: Subjective and Quantitative.

D.1. Demand forecasting

Standard Bank Limited mainly follows the Delphi Technique for their demand forecasting. This forecasting technique is a carefully designed program of sequential, individual interrogations (usually conducted through questionnaires) interspersed with information feedback on the opinions expressed by the other participants in previous rounds. The advantage of Delphi Technique is that it avoids any problems associated with face-to-face groups (i.e.; shyness, perceived lower status or authority, perceived communication deficiencies, issues of individual dominance and groupthink.). The main disadvantage of Delphi Technique is the time and cost factor which is high, selection of experts and facilitator is key factor. Standard Bank Limited mainly follows six steps for their demand forecasting which are in the Delphi Technique.

24 | P a g e

D.2. Supply forecasting

There are two types of supply forecasting and Standard Bank Limited follows the both to forecast the supply. For Judgmental/Qualitative, they follow skill inventories and manager judgment. For Statistical/Quantitative, they follow vacancy analysis. : Judgmental/Qualitative forecasting Skill inventories: For skill inventories Standard Bank Limited finds out the supply of employees by listing of abilities, capacities, qualifications and career goal of the employees to identify suitable candidates for internal recruitment or promotion. Manager judgment: For manager judgment Standard Bank Limited see the current staffing level and then forecast the supply.

Statistical/Quantitative forecasting:
Vacancy analysis: In vacancy analysis, Standard Bank Limited does the supply forecasting by collecting the information about how many employees are leaving the organization, how many are fired or a how many employees died and also the number of transfer, promotion and demotion. From this information they do the calculations and find out the supply forecasting.

D.3. Actions taken to minimize the gap

If there is any kind of gap between demands and supply, Standard Bank Limited takes some major steps as they said. For long-term options in employee shortage, Standard Bank Limited goes for recruitment, recalls, permanent in-transfers, and retrain to fill the vacant positions. As it is a bank, so they do not have any short-term options for employee shortage. For long-term options in employee surplus, Standard Bank Limited goes for retirement incentives, permanent out-transfer, layoffs, retrain, and transfer work-in. For short-term options in employee surplus, Standard Bank Limited goes for temporary shutdown or layoff, excused absences, retrain or train, transfer work-in.
25 | P a g e

Recommendations
1. Standard Bank Limited does not usually attend job fairs around the country. But this can be better options for them to select a skilled employee because different types of go there in the job fairs. 2. Standard Bank Limited does not go for work sampling because of the cost factor but it can be a useful tool for them to judge the candidate though banking job has so many cash handling issues. 3. Standard Bank Limited does not go for situational interviews because of several factors likecost, complicated method etc. But it should be followed by them because it will help them to understand how the candidates will perform in the real job situation. 4. Standard Bank limited only follows the closed internal recruitment system. But they should go for targeted recruitment system where everyone of the organization will get the equal chance to be selected and the organization will find the best person through the process. 5. For collecting the information about the job Standard Bank Limited mainly follow the questionnaire and observation. They can also follow the interview, journals and diaries for colleting the information about the job. Sometime the jobs which have needed more mental works may overlook the complete by the employee. So by using the interview, journals and diaries method they can collect more relevant information about the job.

Conclusion
An organization cannot run without the workforce, an efficient and effective workforce leads to organizations greater achievement. So, selecting workforce is important for an organization to operate successfully. In this term paper we tried to evaluate and analyze the staffing strategy, job analysis process, and recruitment and selection process of Standard Bank Limited. In doing so we came across about the services which they provide in Bangladesh and also their strategy of recruitment and selection. Our understandings after the term paper about the Standard Bank Limited staffing strategy, job analysis process, recruitment and selection process is clear with reference to our text. Standard Bank Limited being one of the developing Bank in the banking
26 | P a g e

sector in our country. That follows the principles of management effectively and tries to acts as a pioneer in banking sector.

References

http://www.standardbankbd.com/ http://www.standardbankbd.com/index.php/about/mission http://www.standardbankbd.com/index.php/about http://www.mozilla.org/en-US/firefox/9.0.1/firstrun/ http://bankinfobd.com/banks/42/Standard_Bank http://www.scribd.com/doc/8480651/Internal-Recruitment

27 | P a g e

You might also like