Professional Documents
Culture Documents
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.
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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+)
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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.
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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.
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.
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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.
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.
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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.
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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.
Print Media
E-recuritment
Bengali newspaper
English newspaper
org. websites
Other website
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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.
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.
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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.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.
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.
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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.
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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.
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.
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.
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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
Successful
Correct Decision
Reject Error
Unsuccessful
Accept Error
Correct Decision
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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
Selection devices
Selection Devices
Application From Written Test Performance Simulation Test Interview Background investigation Physical test
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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.
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.
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Ability to see your capacity to do any work. Interest to see your eagerness to do any work.
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.
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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.
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
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Background Investigation
Theory
Background investigations are two types. Verification of application data that was filled by the applicant Reference check
Analysis:
No gap was found.
Physical Examination
Theory
Useful for certain physical requirements and for insurance purposes related to pre existing conditions.
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Analysis:
No gap was found
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
Analysis
They do not follow this process
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Selected Applicant
Physical Examination
Background investigation
Interview
Written test
Application Form
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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
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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.
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.
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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.
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.
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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
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sector in our country. That follows the principles of management effectively and tries to acts as a pioneer in banking sector.
References
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