Document Text Contents
Page 1
Chapter 1: Introduction
Human Resource Management is the process of developing , applying and
evaluating policies , procedures, methods and programs relating to the individual
in the organization . Human resource management includes Human Resource
Planning , recruiting , selection , training and development, compensation ,
performance management and employee development. Effective human resource
practices relate to company performance by contributing to employee and
customer satisfaction , innovation , productivity , and development of a favorable
reputation of the firm in the industry.
1.1 Objective:
The thesis has been undertaken to assess the Strategic Human Resource
Management practices of Standard Chartered Bank with the prime focus at
formulation of strategies and tactics and how it contributes in implementing
the strategies.
1.2 Methodology:
The information related to the project has been collected from the Standard
Chartered Bank , Islamabad Branch . The methodology adopted is as
follows:
Collection of data by conducting interviews of officials of the
Bank
1
Page 19
4.2.1 The Initial Two Years:
What the employee can expect to experience during initial 2 years training
is a blend of core and discretionary elements , such as:
1. Induction i.e. the processes that introduces the new entrant to the bank, the
employee’s own business or function and particular department.
2. Training in specific products or technical skills.
3. work-based assignments in respective business or function i.e. doing a job
in a particular department for a period of time.
4. Cross-functional attachments – experiencing short period of time spent in
another business or support function.
4.2.2 Long Term Training:
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
External Schools Executive Development
MBA Diploma in Management
Certificate in Management Foundation Course
Induction Course
19
Page 20
4.2.3 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.
4.2.4 Product Training:
Product training is provided e.g. cash product training, operational training
etc. to help the related staff to learn more about the products that the Bank
is providing.
4.2.5 Skill Training:
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.
4.2.6 On-job Training:
Staff members are continuously involved in the learning process in the form
of on-job training . Thus , a lot of on-job training opportunities and job
rotation to increase staff’s exposure are provided.
4.2.7 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).
20
Page 39
Chapter 6: Recommendations
Based on the study, several recommendations have been made. These
include:
1. In order to successfully conduct the performance measurement process,
Standard Chartered Grindlays Bank should formulate effective internal and
external communication mechanism.
2. A conceptual framework understood by all levels of the bank should be
developed.
3. Accountability for results must be clearly defined and well understood.
4. Performance measurement system must provide intelligence for decision
makers rather than just compiling data.
5. Compensation , rewards and recognition should be linked to performance
measurements.
6. Performance evaluation should be positive and not punitive.
7. Employees should be specific as to what is expected from them so that they
direct their efforts towards achieving those expectations.
8. Feedback on the evaluation should be provided to the employees so that
they can improve their performance.
9. Lastly, performance measurement systems should not be seen as an end ,
but a beginning.
39
Chapter 1: Introduction
Human Resource Management is the process of developing , applying and
evaluating policies , procedures, methods and programs relating to the individual
in the organization . Human resource management includes Human Resource
Planning , recruiting , selection , training and development, compensation ,
performance management and employee development. Effective human resource
practices relate to company performance by contributing to employee and
customer satisfaction , innovation , productivity , and development of a favorable
reputation of the firm in the industry.
1.1 Objective:
The thesis has been undertaken to assess the Strategic Human Resource
Management practices of Standard Chartered Bank with the prime focus at
formulation of strategies and tactics and how it contributes in implementing
the strategies.
1.2 Methodology:
The information related to the project has been collected from the Standard
Chartered Bank , Islamabad Branch . The methodology adopted is as
follows:
Collection of data by conducting interviews of officials of the
Bank
1
Page 19
4.2.1 The Initial Two Years:
What the employee can expect to experience during initial 2 years training
is a blend of core and discretionary elements , such as:
1. Induction i.e. the processes that introduces the new entrant to the bank, the
employee’s own business or function and particular department.
2. Training in specific products or technical skills.
3. work-based assignments in respective business or function i.e. doing a job
in a particular department for a period of time.
4. Cross-functional attachments – experiencing short period of time spent in
another business or support function.
4.2.2 Long Term Training:
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
External Schools Executive Development
MBA Diploma in Management
Certificate in Management Foundation Course
Induction Course
19
Page 20
4.2.3 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.
4.2.4 Product Training:
Product training is provided e.g. cash product training, operational training
etc. to help the related staff to learn more about the products that the Bank
is providing.
4.2.5 Skill Training:
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.
4.2.6 On-job Training:
Staff members are continuously involved in the learning process in the form
of on-job training . Thus , a lot of on-job training opportunities and job
rotation to increase staff’s exposure are provided.
4.2.7 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).
20
Page 39
Chapter 6: Recommendations
Based on the study, several recommendations have been made. These
include:
1. In order to successfully conduct the performance measurement process,
Standard Chartered Grindlays Bank should formulate effective internal and
external communication mechanism.
2. A conceptual framework understood by all levels of the bank should be
developed.
3. Accountability for results must be clearly defined and well understood.
4. Performance measurement system must provide intelligence for decision
makers rather than just compiling data.
5. Compensation , rewards and recognition should be linked to performance
measurements.
6. Performance evaluation should be positive and not punitive.
7. Employees should be specific as to what is expected from them so that they
direct their efforts towards achieving those expectations.
8. Feedback on the evaluation should be provided to the employees so that
they can improve their performance.
9. Lastly, performance measurement systems should not be seen as an end ,
but a beginning.
39
