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TitleStrategic Human Resource Management Practices of Standard Chartered Bank
File Size166.3 KB
Total Pages39
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

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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

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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).

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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.

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