Human Resource Overview Of Standard Chartered Banks

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The Founder of Standard Chartered Bank is Scot James Wilson, He had the luck to establish the bank in London. The standard Chartered Bank was originally called as Standard Chart bank of British South Africa and the Chartered Bank of India, Australia and China. This bank was founded in 1853 with the group of business man and the team was led by Scot John Pearson, who traveled to Cape Province in south Africa and he became the successful merchant and had a huge capitalization to expnd the business to another countries.

Establishment of brushwood: -

When the company started to expand their business, they started the trade between the Europe, Asia and Africa. The expansion was done mainly in these area inorder to get lump some profit. In the year 1858 the first branch was established in Chennai and Mumbai and in summer tat shanghai it has it's presence too in china.

This followed to the opening of branches in Hong Kong and the agency of it opened in Singapore. The Bank got the authority to issue the bank notes from 1962 in hongkong and it let to issue notes in Singapore too. It opportunity continued to exercise up until the end of the 19th century. The standard Chartered Bank is one of the three banks issusing Hong Kong Bank Notes

Harvard map of HRM: -

This Harvard Map was devised inorder to access the Human resource policies and the routine work in the organization; they are in need of some methods to do this works effectively. So, they plan to develop Harvard Map Concept. The Main purpose of this map developed is to provide a methodical approach and provide some causal representation of the Merits and demerits of HRM policies. This Harvard Map influences the HR in two major ways,

Situational Factors: - The external or internal factors of the organization, such as Laws, Unions, Workforces, business strategies, management, finance department, development department etc. this type of different areas which are inside or outside of the industries, they are also influenced by the human resource policies.

Stake Holders: - The stake holders include the share holders of the company, who purchased the shares of the company. The share holders are also player a important role in the organization. This also includes the committee members, labours, government, unions and society. These members needs should be met by the institution, if the fail it will leads to fall of the institution.

Here the author says that the human resources policies have both immediate organizational outcomes and long-term consequences. The administrators of the organization can be affected by the decision taken by them or the policies introduced in the organization. They include the following

The overall capability of the labours.

The commitment of the workers

The degree of congruence's between workers own aims

The overall cost efficiency of HRM practices.

When we take into consideration of these goals, in the long run they would not be able to be providing overall effectiveness to the company. They can be little help ful to the changing environment and helpful to manage the resource. So, to manage the activities the HRM has to decide the policies for the long run and the policy formulation must be incorporated for the long term business.

REF:- http://www.citehr.com/12845-harvard-map-hrm.html - 3.1.2010 - 10.00p.m

Methodology: -

The standard chartered bank follows some of the methodologies, they usually collects all the methods from the Islamabad Branch. The methodologies used by the bank are,

Gathering the information's from the executive by conducting interviews in the bank

Regular Visits to the banks, to see how the works or transactions are performed.

Internet search on the details regarding the new innovation or the research on their competitors.

Keen study on the Bank's annual reports.

This extensive study on the literature has been carried out to see the methods leading the business to a dynamic banking environment.

Structure and Service of Standard Chartered Bank:-

There are different types of approaches, they are,

Service Design: -

The Challenging characteristics are the common service provided by the Standard Chartered Bank. The service of the bank is low because the products are structured or designed and delivery of the services includes the customer's interactions. The service of the company depends upon the few methodologies. In order to over come the difficulties the come has to outsource it certain operation .Now a days the company faces a huge competitions in Asia and to competite with other organization, the companies that use payment outsourcing is the only way to reduce the cost and focus on the main activities of the business unit.

Strategic Approach: -

The strategic approach has the higher power for the implementation of SSC/CAP . These processes are not stand alone process. But, It covers the whole company in global as well the regional areas of the entire organizational structure of the bank. These units are implemented with high end diagrams like ERP (Entity relationship diagram) and it also make use of another types of Programme like Oracle, SAP, which is been connected with many different element.

Pragmatic Approach: -

This method does not have any preference but instead it has a post-hoc determination. The most straight forward and efficient ways the bank ask the queries to them when they deal with this pragmatic approach.

Where are we now?

What do we want to be?

What are the different ways to reach the goal?

Limitations of Strategic Approach: -

In this strategic approach it always leaves the implementation and execution expenses in the favor of corporate strategy that geared towards centralization. The major demerit of this approach is the size and the complication.

Operations of Strategic for Banking Services:-

The main question of the bank is how to satisfy the customer needs? This plays a important in the banking department. Because the assets, tangible good in these the customer are in need of a full amount, for their personal uses and the quality of the services should be maintained and the services delivered to in any way it should be perfect, so, the Standard Chartered Banks, they try to satisfy the needs of the customer by developing new methods and ways, which impress the customers in more.

Operational Strategies:-

There are some of the principles which are been followed by the bank official,

They must concentrate on the developing the business in providing loans and at the same time they must improve the standard of the business.

In lieu of Islamic banking it aims to introduce the fee-income of the business in order to raise the non-interest revenue sources.

To actively develop the transactions between the international banking and it will help the banking business to be improved more by introducing more products and policies in the business

They aim is to provide very efficient services to the customer and trying to satisfy then needs of the customers and it leads to the development of qualified services

To incorporate the major business units in the major centers of the country.

Operation Plans: -

There are different of types of operational plans, they are,

Deposit

Loans

Treasury operation.

Domestic banking.

Strategic HRM in Standard Chartered Bank: -

In a concern, the labours or employees are the assets of the organization. The industries or the business units cannot perform without the help of employees in a organization it can be service oriented or manufacturing oriented.

When take into consideration Standard Chartered Bank, It is the world's largest up-and-coming bank. The employees details in the bank, it contain about 30,000 peoples in 500 office operating more than 50 countries in the world

The countries in which it operates

Human Resource Planning:-

In order to plan the activities of the HR planning is very important, because in order to execute the activities in the business these play a major role. In case the standard Chartered Bank, Human Resource Planning department always plans the activities i9n the organization of what work has to be provided to the customer inorder to maintain the quality if the business and increase the network structure and execute the business strategies in a better ways.

Forecasting:-

Forecasting is the chief function of the HR department activities in the organization. The commonly developed plans in the organization are,

Employee's details should be filled with sufficient details.

To make changes in the working structure of the bank.

Work-force supply- This includes the difference in the current business

Impact on budgets and funding.

Accountability for the course of action: -

The persons in the HR department, when they plan the activities in the department, the person should take correct decision regarding the works implemented in the organization. Every person in the bank are responsible for the activities an the bank should execute in all the environment in which all the advanced and new techniques are introduced help the customers to access all the information related to the bank easily.

It helps to handle the changing customer requirements.

Construction of Standard Chartered Bank: -

When we speak about the bank structure, it generally deals with the goals and the operation of an individual work teams, which are been executed in an connected area. This leads to the job satisfaction, motivation and commitment to goals as well as providing access to the career development.

Employee's examination (Supply and Demand):-

The efficient means of gathering the information on the workforces report, trends will help us to keep in mind the certain requirements for skilled and qualifies employees to meet their needs easily. The report of the workforce will help the organization to improve the efficiency of the company in many ways. This helps the company to be responsible to the activities in the organization and responsive to the needs of the customers easily.

Training and development: -

Training and development is important part of the organization this will help us to develop the organization structure in a better ways. In this Bank Training is considered to be a connecting bridge between the employee and the Bank. The bank always provides a structure for the works to be performed in the organization and the needs to be satisfied in the organization , this method will enables the employees to take all the program in the institution to be studied well and the individuals help the persons to develop their particulars development needs. In the training session when we train the employees with the sufficient t, it will be help for them to execute the process when they meet the customers who come to the organization.

Long term Training:-

The training does not stop with the initial; they always have to update with the information for the organization and to understand the internal development programs that the businesses are related with the activities for their business. The bank always provides an opportunity for the development of the organization. To develop their skills through the external accredited courses.

Product Training:-

Product Training relates to the details providing related to the Cash production training, operational training etc, which related to the employees and to make them to learn more about various product which are introduced in the organization.

Self-training: -

The also allows the peoples to have self-training for their process. This enables by providing cd's to the employees so that they can get the views about the organization without attending training class. This may helpful for the official to execute their policies in an easier. The official if they have doubt regarding any plans, they can also clarify them.

Compensations:-

In the banks the compensation activities are divided into two different ways, they are for the sales executives, who are able to compensate to the targets limits specified by their higher officials and the second thing relates to the executives inside the organization who provides job satisfaction in their activities.

Recital Management: -

In all the organization, the employees usually get the salary improvement or getting higher position is based on the performances made by them in the company works. The appraisals work on the employee are been done by the HR department, who looks after the work of the Employees and check out the day to day works in the organization. The whole organization is depending upon the performances activities of the employees and the outputs relatively, based on their work, so, this process will help the company to develop in various sectors. It will be a great opportunity for the employees two.

Validity:-

Getting higher position in the job depends upon the performance activities and in contrast to this there comes the validity, It is nothing but the deficiency element of the validity. This shows that it is one of standardized format for the judging the validity of the person or the job provided, but in certain times it may ignore the certain aspects.

Reliability:-

When we compare the performance with the reliability it can be considered as the test-retest reliability. It is for the employees who are getting the hike in their performance has to do their performance in a better way. This helps the deciding authority in the banki to decide which employee is suitable for their work.

Tackling the Financial Crime:-

The company has appointed some authorities to tackle the financial crime problem that are existing in the department. They also have some risk management rules tat the place of addressing the risk. In 2008, they launched a new group strategy to tackle laundering and extended the use of monitoring system for identifying the doubtful transaction.

Key elements for success:-

Based the following process, there are some method to be followed to achieve the success, they are

A theoretical structure has to be developed to understand all levels of activities to be executed in eth bank.

Accounting function should be clearly defined inorder to produce the best result.

Performance measurement should provide the authorities a well report to make clear decision in the organization.

Compensation and rewards and recognition should be linked together to performances measurement.

Performance evaluation should be positive and not punitive.

The report of the whole organization, regarding feedbacks on the work done the by the employees should given to improve themselves.

Lastly, the performance is main part of the industries which helpful for their development. So, this sector should not be seen as the end but as, the beginning.

Achievements in 2008:-

Strong profit has been made against the back drop of unprecedented economic confusion.

The bank exited 2008 with the liquidity; diversified balance sheet and this let to keep their business remain open for their customer.

The world spread business and the sectors helped to cope up from the worst defects of the economic events took place in 2008.

They were able to take gain merits and the strength; these were able to be added to the business and talents, whenever and wherever needed.

They were able to continue with the connection with the investment in Korea, Taiwan, and Pakistan and on global basis, American Express Bank (AEB).

Highlights of 2008: -

$3.2 billion renewable energy and it financed to the clean technology projects since 2007.

14 percent of Carbon dioxides emission has been controlled by every employee of their company.

$385 million credit and financial instruments to microfinance is been provided to the institutions.

It was one of five financial institutions to sign the climatic principles.

The Down fall in 2009: -

The bank is facing a recession not a depression.

But however the fundamental imbalance in the global economy has to be addressed.

Among the G20 summit attainments are promises are workered together, to fight for the Protectisim, reform the IMF and to avoid competitive devaluation.

But the summit has failed to review the WTO Doha development round, to secure more fiscal address the global imbalance.

The risk was still increasing which further spot the shock like emerging euros second round effects.

Plus focus on Asia, Africa, middle east, Fx and commodities and highlights on Angola, Mexico, china.

Report of 2 010: -

In this year the have introduced a new financial service research report from the business administrators in the intercontinental market is now available from the fast market explore. Here fast market research is one of the online aggregator and distributor of the market research and business information. They have told that , they are the one of the world biggest publishers and analysts and provide quick and easy acess to the best rival of the cleverness available.

Conclusion:-

Every citizens in the economic are in need well developed bank to meet their daily banking needs like saving and the provision of credit and the institutions who are responsibly aware of the role of that our organization in the hearts of the people. In this case we are proud to show our progress in our developing organization by showing the agenda in the crisis too in 2008. It is the leading international bank, so, we are trying to establish new policies that help to support the customers across the world. The new millennium has brought it two largest acquisitions in the histoty of the bank with the purchase of Grindlays Bank from ANZ group and the acquisition of the chase consumer banking operation in hongkong in 2000. This helped the bank to establish the strong market, where they see their future.

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