Hrm Project Final1

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HUMAN RESOURCE MANAGEMENT PRACTICES IN MNC BANK

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Table of contents

Page No.

1: Introduction 2

2: MNC banks in India 5

3: HR practices of MNC bank 3

4: HR practices in Standard Chartered Bank 11

5: Highlights of HR practices bank in America 21

6: Highlights of HR practices in HSBC bank 29

7: Highlights of HR practices in Citi bank 38

8: Bibliography and References 40


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1.Introduction

An organization is made up of a number of people who strive to achieve the

organizations goals. Human resources have a significant bearing on the

profitability, efficiency and overall organizational effectiveness. Human beings

differ from one another in their basic mental abilities, skills, approaches,

qualifications and also behavior which account for their complex behavior patterns

and psychological makeup. Such difference gets multiplied when they interact with

one another in a group or in an organization. This generates different styles of

management, values, feelings, beliefs and opinions of the employees. They must be

groomed in order to take risks, think innovatively, and handle new problems. In the

competitive environment, employees of any business organization are the key

factor for deciding the success of the firm, in general, and cooperatives in

particular. It is understood that cooperative banks approach human resource

management (HRM) from the wrong perspective and their financial performance

suffers as a result. Instead of focusing on how to execute strategy through the

performance of the employees in m a n y banks, the first priority is cost control

and the focus often begins with the HR function. HRM becomes a valuable tool for

management to ensure success.


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The Evolving Business Paradigm

One of the factors behind organizations giving a lot of attention to their people is

the nature of the firms in the current business environment. Given the fact that

there has been a steady movement towards an economy based on services, it

becomes important for firms engaged in the service sector to keep their employees

motivated and productive. Even in the manufacturing and the traditional sectors,

the need to remain competitive has meant that firms in these sectors deploy

strategies that make effective use of their resources. This changed business

landscape has come about as a result of a paradigm shift in the way businesses and

firms view their employees as more than just resources and instead adopt a people

first approach.

Strategic Management and HRM

There is a need to align organizational goals with that of the HR strategy to ensure

that there is alignment of the people policies with that of the management

objectives. This means that the HR department can no longer be viewed as an

appendage of the firm but instead is a vital organ in ensuring organizational

success. The aims of strategic management are to provide the organization with a

sense of direction and a feeling of purpose. The days when the HR manager was


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concerned with administrative duties is over and the current HRM practices in

many industries are taken as seriously as say, the marketing and production

functions.

Importance of HRM for Organizational Success

The practice of HRM must be viewed through the prism of overall strategic goals

for the organization instead of a standalone tint that takes a unit based or a micro

approach. The idea here is to adopt a holistic perspective towards HRM that

ensures that there are no piecemeal strategies and the HRM policy enmeshes itself

fully with those of the organizational goals. For instance, if the training needs of

the employees are simply met with perfunctory trainings on omnibus topics, the

firm stands to lose not only from the time that the employees spend in training but

also a loss of direction. Hence, the organization that takes its HRM policies

seriously will ensure that training is based on focused and topical methods.

In conclusion, the practice of HRM needs to be integrated with the overall strategy

to ensure effective use of people and provide better returns to the organizations in

terms of ROI (Return on Investment) for every rupee or dollar spent on them.

Unless the HRM practice is designed in this way, the firms stand to lose from not

utilizing people fully. And this does not bode well for the success of the

organization.


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2. Multinational Banks in India

Standard Chartered Bank Citi Bank HSBC Royal Bank of Scotland BankAbu Dhabi Commercial BankBankof Ceylon BNP Paribas Bank China Trust Commercial Bank Deutsche Bank JPMorgan Chase Bank Scotia Bank Taib Bank
http://finance.indiamart.com/investment_in_india/standard_chartered_bank.htmlhttp://finance.indiamart.com/investment_in_india/citi_bank.htmlhttp://finance.indiamart.com/investment_in_india/hsbc_bank.htmlhttp://finance.indiamart.com/investment_in_india/abn_amro.htmlhttp://finance.indiamart.com/investment_in_india/abu_dhabi_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/abu_dhabi_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/bank_of_ceylon.htmlhttp://finance.indiamart.com/investment_in_india/bnp_paribas_bank.htmlhttp://finance.indiamart.com/investment_in_india/china_trust_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/deutsche_bank.htmlhttp://finance.indiamart.com/investment_in_india/jpmorgan_chase_bank.htmlhttp://finance.indiamart.com/investment_in_india/jpmorgan_chase_bank.htmlhttp://finance.indiamart.com/investment_in_india/scotia_bank.htmlhttp://finance.indiamart.com/investment_in_india/taib_bank.htmlhttp://finance.indiamart.com/investment_in_india/taib_bank.htmlhttp://finance.indiamart.com/investment_in_india/taib_bank.htmlhttp://finance.indiamart.com/investment_in_india/taib_bank.htmlhttp://finance.indiamart.com/investment_in_india/scotia_bank.htmlhttp://finance.indiamart.com/investment_in_india/jpmorgan_chase_bank.htmlhttp://finance.indiamart.com/investment_in_india/jpmorgan_chase_bank.htmlhttp://finance.indiamart.com/investment_in_india/deutsche_bank.htmlhttp://finance.indiamart.com/investment_in_india/china_trust_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/china_trust_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/china_trust_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/bnp_paribas_bank.htmlhttp://finance.indiamart.com/investment_in_india/bnp_paribas_bank.htmlhttp://finance.indiamart.com/investment_in_india/bnp_paribas_bank.htmlhttp://finance.indiamart.com/investment_in_india/bank_of_ceylon.htmlhttp://finance.indiamart.com/investment_in_india/bank_of_ceylon.htmlhttp://finance.indiamart.com/investment_in_india/abu_dhabi_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/abu_dhabi_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/abu_dhabi_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/abu_dhabi_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/abu_dhabi_commercial_bank.htmlhttp://finance.indiamart.com/investment_in_india/abn_amro.htmlhttp://finance.indiamart.com/investment_in_india/hsbc_bank.htmlhttp://finance.indiamart.com/investment_in_india/hsbc_bank.htmlhttp://finance.indiamart.com/investment_in_india/citi_bank.htmlhttp://finance.indiamart.com/investment_in_india/citi_bank.htmlhttp://finance.indiamart.com/investment_in_india/standard_chartered_bank.html


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3. HR practices of MNC bank in India

Human resource policies are systems of codified decisions, established by an

organization, to support administrative personnel functions, performance

management, employee relations and resource planning. Functions of the HR

Department in MNC Banks

The functions of HR department are:

1. Pre-Recruitment Process:

a. Receipt of requirement of manpower from various department heads.

b. Scrutinize them and take approval from concerned authorities if the post is new.

c. Prepare a recruitment budget and CTC for the employee and take approval.

d. Select the appropriate Recruitment process.

2. Recruitment Process

a. Prepare Advertisements etc. for the recruitment.

b. Scrutinize and shortlist the applications received.

c. Send interview call letters/mails as required.

d. Conduct Interviews through panels.

e. Preparation of offer letters as required.


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3. Joining Formalities:

a. Administrating Joining formalities.

b. Pre-Employment Reference checks.

c. Preparation of Appointment Advice and intimating the same to other

departments.

d. Preparing and entering new hire paperwork.

e. Co-coordinating to get Employee ID Cards.

f. Handing over the new hire to the concerned HOD/Manager.

g. Preparation of Job Profiles co-ordination with HOD/Managers for new posts.

4. Employee Personal File Maintenance:

a. Opening new file and Closing the Resigned employees File.

b. Make sure all Employee files are maintained safely with care.

c. Make sure all personal records are available in the files.

d. Periodic Personal File Auditing.

5. Employee Data Base:

a. Keeping Track of Knowledge Management Software.

b. Maintenance of HRIS.


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6. Confirmation Formalities:

a. Intimating the concerned HOD/Manager about the due dates for confirmation.

b. Conducting Confirmation Appraisals.

c. Coordinating for Skill Gap Analysis.

d. Coordinating to set Quality Objectives for each job profile.

e. Ensuring updation of the existing Job Profiles.

f. Processing the Confirmation.

7. ISO Compliance:

a. Ensuring all the updation of the ISO documentation and HR Formats.

b. Learning and enforcing Standard Operating Procedures (SOP).

c. Facing the Internal and External Audits, accountable to enforce the correctional

actions.

8. Statutory Compliance:

a. Handling PF and ESI formalities and co ordinating with other departments.

b. Handling Apprentice Training, Submitting Periodic Returns to Board.

c. Submitting other returns to the labour Department as per Shops and

establishment Act.


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9. Training And Development:

a. Conducting Induction Training for new hires.

b. Training Need Analysis based on Skill Gap Analysis, Appraisal Feedback and

suggestions.

c. Co-ordinating External and Internal Training Programs.

d. Maintaining Training Records.

e. Analysis of Training Feedback.

10. Performance Appraisal:

a. Prepared the new Appraisal Form.

b. Educated employees about self-appraisal.

c. Provided inputs to HODs for Appraisals.

d. Prepared Appraisal Letters.

11. Employee Relation:

a. Having formal and Informal counselling with employees.

b. Prepared Event Calendar of monthly recreation to motivate employees.

c. Handling Corporate Medical Insurance.

d. Processing required letters on employees request.


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12. Report Generation:

a. Generating and analyzing Employee Attrition Reports, Training Evaluation, and

Manpower Status.

b. Weekly and monthly recruitment reports

c. Report generation of Pre appraisal, Appraisal and Post Appraisals.

d. Salary Details Reports to Accounts Department.

e. Reports as per the HODs request.

13. Exit Formalities:

a. Administering Exit paper work including all Statutory requirements.

b. Conducting Exit Interviews.

c. Preparing Exit Interview Summary.

d. Giving post employment reference for relieved employees.

e. Processing File to Accounts Department for final settlement


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4.Human Resources (HR) practices in Standard CharteredBank

SCB very strongly believes that 'People make the difference'. It believes in

nurturing employee potential through involvement, empowerment and continuous

learning. SCB is one of the world's most international banks in terms of the

diversity of their people. SCBs 75,000 employees, representing 115 nationalities,

are exposed to exciting career opportunities as a result of banks unique global

footprint.SCB incorporates diversity and fair treatment of employees as a core

value. Below was the survey conducted in the bank by HR department of SCB.

It can be seen that almost 80% of the employees are satisfied for working with the

bank.


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H R Policies & Procedures of SCB

Recruitment

Recruitment means to estimate the available vacancies and to make suitable

arrangements for their selection and appointment. Recruitment is understood as the

process of searching for and obtaining applicants for the jobs, from among whom

the right people can be selected.

In recruitment, information is collected from interested candidates. For this

different source such as newspaper advertisement, employment exchanges,internal

promotion, etc.are used.

In the recruitment, a pool of eligible and interested candidates is created for

selection of most suitable candidates. Recruitment represents the first contact that a

company makes with potential employees

Sources of Recruitment:-

a) Where applicable, positions will be advertised within the organization beforeexploring other external sources like advertisement, agencies, etc. One of the

main source of recruitment used now a days is through referrals given by the

company employees. Employees are given Monetary incentives if the


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referral given by the employee is selected for the the job. Higher the post,

More the monetary incentive is given.

b) Even after that, if the position is still Vacant, Ads are given in newspapersstating the details of the post vacant & the minimum required eligibility

criteria. The banks also has a tie up with Manpower Services Consultancy

--- A consultancy firm for short listing the candidates for interview. Ads are

given in newspapers, walk- in interviews are conducted.

c) SCB posts its vacancies through various Job Portals such as Naukri.com,Indiajobs.com, Monsterjobs.com, and Timesjob.com

d) The company also posts its vacancies through its home page where thecandidate can post its resumes through the link

[email protected]
mailto:[email protected]:[email protected]:[email protected]


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Interview Process:

All short listed candidates are requested to fill in the Application Form prior to the

interview. The company officials carry out two rounds of interviews. The first

round is held by an officer from the dept. concerned where the vacancy exists who

fills in the interview assessment form and depending on the form filled the

candidate is either rejected or selected for another round of interview. The second

round of interview is taken over by dept. head & HR dept. head that again fill up

the same assessment form filled in during the 1st round of interview.

After conducting the two rounds of interviews the candidate most suitable is

selected and an appointment letter is sent to the candidate. The candidate is

required to sign the appointment letter suggesting a date of joining the company. If

the candidate does not accept the appointment then the candidate who was second

best would be approached for appointment. The company also receives

applications for jobs on a day-to-day basis, these applications are also considered

while filling in vacancies and the process of interview and appointment is carried

out.


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Performance Appraisals

SCB is a performance driven organization. Super achievers move up the career

ladder, effortlessly. The employee performance appraisals are conducted every 6

months. Each Employee is given an appraisal form to fill up every 6 months.

The appraisal form is divided into 4 sections. These four sections are

Key Result Area: These are the Objectives that were expected to be fulfilledby the employee in the beginning of the year. Has to be filled by the

employee

Weightage: The employee has to score himself depending on the objectiveshe has completed. The scores are out of 50.

Actual Achievements: This is the actual list of objectives that are completedby the employee from the given list of objectives. This has to be filled by the

employee.

Remarks: This section has to be filled by the appraiser. The appraiser has tonote down his comments about the employee in this section & has to go

through the records of the employee to evaluate for performance appraisal.

The Completed forms are then submitted to the respective Appraiser. The appraiser

is the authority to whom the employee reports. The appraiser after assessing the

appraisal form will have a one on one session with the employee. One on one


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session is very interactive. In this session the employee has to justify the score he

has allocated to himself. The employee can also put forward his ideas, and discuss

issues in this session. The appraiser will provide then give his feedback to the

employee. After this whole session the employee will receive his final overall

performance rating.

Depending on the rating the employee is subjected to the following

Future Roles Skills to be acquired/developed Suggested course of action Training Required Areas for opportunities Promotions

Training and Development

Professional Training ProgramsAt SCB, standard training is an inherent element of their support system . Some

of their training and support initiative are as:

Basic Training and Induction: Independence of work experience, this training will

give perfect knowledge about the insurance industry along with comprehensive


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knowledge about the insurance along with comprehensive knowledge abut SCB

SLIC Product.

Advance Training: Once employees have settled down as a professional the

company will continuously upgrade capability and knowledge through

sophisticated training program, fit for this dynamic world of financial products and

markets.

Development refers to those learning opportunities designed to help employees

grow. Development is not primarily skill-oriented. Instead, it provides general

knowledge and attitudes, which will be helpful to employees in higher positions.

Efforts towards development often depend on personal drive and ambition.

Development activities, such as those supplied by management development

programmes, are generally voluntary

Methods and Techniques of Training:

On-the-Job Method (OJT):

Majority of industrial training is on the job training type. OJT method is mainly

adopted while orienting new employees, introducing innovations in products &

services and in special skills training. OJT is conducted at the work site and in the

context of the job. Often, it is informal, as when an experienced worker shows a

trainee how to perform the job tasks.


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Off-the-Job Training Method:

Off-the-job training is mainly adopted for orienting new employees, introducing

innovations in products and services, special skills training, safety education,

creative, technical & professional education and sales, administrative, supervisory

and managerial education. The advantages and disadvantages of some of the

important techniques of off-the-job methods are listed below:

a) Lectures:

Lecture is a verbal presentation of information by an instructor to a large audience.

This method can be made effective when combined with other means of training.

b) Audio-Visuals: These include television slides, overheads, video-types, films

and LCD Projectors.

c) Programmed Instruction (PI): Training is offered without the intervention of the

trainer. Information is provided to the trainee in blocks, either in a book form or

through a teaching machine. PI involves:

1. Presenting questions, facts, or problems to the learner.

2. Allowing the person to respond.

3. Providing feedback on the accuracy of his or her answers.

4. If the answers are correct, the learner proceeds to the next block.


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d) Simulations:

A simulator is any kind of equipment or technique that duplicates as nearly as

possible the actual conditions encountered on the job. It is an attempt to create a

realistic decisionmaking environment for the trainee. The advantage of

simulation is the opportunity to create an environment similar to real situations

the managers incur, but without the high costs involved should the actions prove

undesirable.

Other HR Practices

Mandatory off (MO)- 30 days per calendar year. (January to December).Employee has to take minimum 15 MOs till the end of every 6 months, that

is till the end of june, next 15 MOs till the December End.

Travelling incentives:- employees are given travelling incentives as per theshift they are given to work.

Birthday celebrations are carried out in the organization by gifting them withcards and gifts.

During the festivals the employees decorate the organization and thensweets are also distributed to them.


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On-line Human Resource Management System, which acts as an intranet,is provided to the employees to keep them updated with all the

information about the organization & about their personal records.

Recommendations:-

Company should focus on Campus Recruitment. It has been seen that there has been too much of work load recently

results into stress. Scb should come up with stress management activities.

Refreshers Training & updates regarding the products must be given toeach employee so that they can get the proper knowledge of the products.

Front end should be there to deal with walk in customers.


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5.HR practices of Bank of America

Bank of America Corporation (NYSE: BAC) is a financial services company, the

largest bank holding company in the United States, by assets, and the second

largest bank by market capitalization. Bank of America serves clients in more than

150 countries and has a relationship with 99% of the U.S. Fortune 500 companies

and 83% of the Fortune Global 500. The company is a member of the Federal

Deposit Insurance Corporation (FDIC) and a component of both the S&P 500

Index and the Dow Jones Industrial Average.

As of 2010, Bank of America is the 5th largest company in the United States by

total revenue, as well as the second largest non-oil company in the U.S. (after Wal-

Mart). In 2010, Forbes listed Bank of America as the 3rd "best" large company in

the world.

The bank's 2008 acquisition of Merrill Lynch made Bank of America the world's

largest wealth manager and a major player in the investment banking industry.

Human resource is considered as the most important resource of any organization.

That is the reason why there are different strategies and plans that are being


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implemented by different companies in order to make sure productivity. The

management of people is considered as one of the most vital and challenging areas

of business management and most of the organization believe that it is taken very

seriously (Gennard & Judge 2005).

Employee relations consists of all the important areas of human resource

management or HRM that involve the general relationship with the employees, in

the course of collective agreement where in the trade unions are recognized, and/or

through generally applied policies for the involvement and communications of the

employee (Armstrong 2000 ).

Different employee relations strategies defines the entire intensions of the

organization regarding what needs to be done and what are the needs to be changed

in the ways in which the organization will enable to manages their relationship and

communications with the employees as well as their respective trade unions.

Unlike the HR strategy, the employee relations strategies focus from the business

strategy and also aim to support

Human Resource Management exists just for this purposeto bridge the gap

between staff and upper management. In doing so, compromises have been


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attained which preclude the need for unions or outside arbitration, and thus provide

the services that employees feel is their right to have

A company which is not so progressive, on the other hand, neglects HR and the

philosophy that goes with it. The result is, employees abandon any thought of

fidelity towards their employer in favor of businesses that reward their service in

greater ways. Examples of this begin at the most basic level of appreciation.

Certificates of recognition awarded on a monthly, bi-yearly, or even yearly basis,

for instance, are all that many employees wish.

Now, pay close attention. What you're about to read will help you save hours of

frustrating, wasted hunting, and let you hone in on some of the best material on this

subject!

Of course, on a more pecuniary basis, more constant raiseswhether structured

and awarded based on time and/or merit, are always welcomed. Likewise, health

benefits are probably the second most important factor, besides these well-earned

raises. The HR department is very often responsible for such aspects in the

workspace.


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Yet, this is only the tip of the iceberg. Surely, the aforementioned has been a part

of the American workspace for decades. What staff in HR try to instill are

programs and emotional support that make employees feel a part of a winning,

caring teameven a family?

This has been actualized by programs such as after-work softball and bowling

leagues, on-site day care, free fitness memberships, and even after hours bar

hopping and social events with the office staff and the boss. At work, people in HR

have implemented office parties where before there were none, office pools, after-

hour bingo (for charity or just for fun), and other such activities that create a

cohesion within a workforce that makes it extremely difficult for an employee to

ever consider leaving. It is just this feeling that managers and owners are looking

for and why HR is so important.

Recruitment Criteria:

Recruits the most talented individuals from the external market to supplement their

internal pipeline of talent. Their Human Resources department provides guidance

on the use of psychometric tests and has robust recruitment criteria to ensure that

all candidates are treated fairly, equally and with respect. It has a global Graduate

Recruitment Program; where in the region of 150 graduates are recruited each year


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on a management trainee program across all businesses, functions and countries.

Selection:

selects employee based on knowledge, skills and talent. They are committed to

providing equality of opportunity to all employees, regardless of gender, race,

nationality, age, disability, ethnic origin, or marital status. They are committed not

just providing equality of opportunity to all employee, but also identifying what

unique strengths each individual brings to the roles they carry out and the

development of these strengths.

Employee health, well-being and safety:

believes that the health and wellbeing of their employees and their families is

important. They are concerned not only about the physical health of their

employees, but also their mental and emotional well-being. has policies &

practices that provide for a safe and healthy working environment. They place

importance on the safety and well-being of their staff, communities and on the

effect its working and operational processes have on the environment. They are

continually developing policies and practices designed to maintain the highest

appropriate standards.


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Compensation:

At , the compensation package provided to the employees can be divided into two

categories. One comprises of the sales personnel who are compensated on their

ability to meet their targets. Second is compensating the executives who are

responsible for the overall functions of the Bank.

Compensating the Sales Force:

How the Bank presents itself to its corporate as well as individual customers is

dependant upon the ability of its sales force. These are the individuals who take

and active approach is getting the message out about the Banks products and

services. How effectively the sales team markets the Bank and in run, how

successful it is, is directly related to the sales compensation program.

The key to a successful sales compensation program is achieved in three steps:

1. Clearly defining sales goals that are realistic but challenging

2. Tracking and measuring performance against goals

3. Rewarding achievement with competitive and motivational compensation

Sales compensation packages typically comprise one or more of the following

components:

1. Base Salary


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2. Periodic incentives tied to short-term goals

3. Annual Incentives tied to longer-term sales activities

4. Commission-based incentives

5. Perquisites to facilitate sales efforts

Executive Compensation:

The way the Bank pays its top management plays an important role in motivating

the critical performance needed to run it effectively. Base salary is not the only

component of the typical executives compensation package. Executive

compensation packages typically comprise the following components:

1. Base Salary

2. Annual Incentives

3. Long-Term Capital Accumulation

4. Deferred Compensation Arrangements

5. Supplement Benefits and Perquisites

6. Special Severance and Retirement Arrangements

7. Employment and Change of Control Agreements


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Reward & Recognition:

aims to reward the talented and high performing employees competitively. They

regularly conduct salary surveys to ensure that the reward package remains

competitive in the market place. They encourage continuous discussion; encourage

regular review of employees performance and development. This provides

feedback to the staff about how they are doing. The management links this to both

financial and non-financial recognition.

In addition to this, the bank provides various incentives in the form of bonuses to

encourage the employees and motivate them to continue with their high

performance. These include Spot Award, Surprise Award, Best Performer Award,

Service Quality Award, and Year of Excellent Services Award.


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6.Highlights of HR practices in HSBC Bank

Powering the balance sheet

Cutting-edge technology solutions are used by us to keep pace with the rapidly

changing spectrum of customer needs to provide relevant suite of products and

services. However, our people remain the backbone on which technology rides. In

fact, it's their insight and initiative that has allowed us to recognise financial

opportunities first. The objective is constant - create an environment that stimulates

challenges and rewards a person.

In each one of our staff we value their need for personal growth along with

professional development.

HSBC also recognises the importance of ethical business values, creativity and

diversity in a workplace and is an equal opportunity organisation. Innovations and

ideas are shared throughout the HSBC network between our people, so that every

customer of HSBC benefits. You may think of it as local knowledge that happens

to span the globe.


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Basic HR practices in HSBC

Planning and recuitment Testing and selection Benefits and reward Training and development

CV SubmissionApplication

EvaluationAbility Test

CapabilityBased

Interviews

Reply LetterJob Offer


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Face to Face interview

Group Interview

Written Case Study

Presentation

Role Play

Selection

Training and development

Resident Management Trainee Programme (RMT Programme):

The Resident Management Trainee programme (RMT) aims to select a group of

high potential executive trainees and provide them training and development

opportunities. The RMT programme gives potential executives effective and

systematic training to acquire an excellent understanding of the commercial

operations and business functions. The RMT programme ensures that successful

applicants, with the right training, will have the ability and potential to reach the

highest level of management within HSBC Bangladesh, and possibly beyond.


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European training programme:

Providing a comprehensive insight into our retail and commercial bankingbusinesses, it is designedto help employees develop the skills and experience you

need to embark on a management careerwith HSBC in your home country through

different placements overseas. This training is a part of

HSBCs performance management appraising processProgramme Structure:

In total, the programme lasts approximately 20 months, commencing at the beginning of

September 2009, with a two-week local induction course followed by a two-week UK

induction course on 14th of September 2009.Following the induction, you will undertake

three four-month placements overseas and the last placement is for a six-month period in the

home country.

HSBC has a strong HR culture in their organization. Being a multinational company (MNC)

it has their own way of daily evaluation. Through different formats of evaluation they

measure theiremployees performance. Participant diary and observation these two methods

are applied for evaluation. After evaluation using some metrics comes out the performance

appraisal of employees .Then it is decided whether the employee need more training

sessions or developments. Succession is a very common practice in HSBC. It helps to


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reduce cost as well as determine the employee performances that are being ready for the

expected post.

Posting and Transfer:

An employee first joins in the Human Resource Department (HRD) in the CorporateOffice. After accept his/her joining s/he is posted to Branch Office. Before to get the

posting order employee

doesnt know in which Branch s/he will be posted.

All jobs are transferable in this HSBC. The Competent Authority has the right totransfer employees of the Bank from one department to anther department or from

one branch to another branch of the Bank. Human Resource Department keeps

one copy of posting in employees personal file and the copy of posting order

distribute among employee, the FVP and manager of employees branch, DMD and

head of Corporate Affairs and Administration, Managing Directors Secretariat Bank

Asia Limited, the FVP and manager of branch where employee will be posted and IT

Department

Benefits and Rewards:

HSBC continually evaluates and reviews its employee benefits to ensure that benefits are

competitive and in line with its employees needs and to manage their diverse life.


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Rewards:

Salaries: Market competitive remuneration package subject to annual review where

individual performance is recognized.

Performance Bonus: Market competitive annual bonus based on results and individual

performance

Incentive Schemes: Market competitive incentive schemes in specific business areas.

Share saves: Employees are entitled to buy HSBC shares at a 20 per cent discount on the

market price.

Achievement Shares: HSBC shares may be granted annually, depending on position and

individual performance.

Benefits:

Private pension plan Private medical plan for employees and dependents Life and accident insurance Medical check ups Banking products with preferential pricing Nursery and summer camp allowances Bank car, parking space and allowances, depending on position


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Children party, annual employee party etc Market competitive remuneration package and annual cash bonuses. Health plan and routine medical allowance including optical and dental treatment. Short and long-term disability coverage, as well as life insurance. Paid leave for marriage, maternity, sickness and vacation. Staff banking privileges, including special interest rates for car loans, sundry loans

and home loans.

An active Sports and Social Club. Development opportunities and career support. Retirement benefits.

Promotion

The criteria for promotion to a specified post usually merit-cum-seniority. A person will

be eligible for promotion if he has the satisfactory records of service, meets the criteria

for promotion, and has clear recommendation for promotion in his/her Annual

Confidential Report(ACR). If there is any departmental proceeding in underway against

him/her or any penalty other than censure or warning has been imposed on him/her

within the last three years then the employee will not be promoted.


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Leave

HSBC grants different kinds of leave for their employees. But all of the leave must be

logical and necessary. HSBC grants only limited leave. The bank mainly offers earn

Leave, disability leave, study leave, maternity leave and casual leave . If an employee

enjoys excessive leave or without prior notice, he/she will have to show cause to the

proper authority. He/she even may be punished by cutting salary.

Resignation

In case of resignation, an employee has to inform to Human Resource Department.

He/she should notice Human Resource Department before a proper time period. If

he/she fail to inform before a proper time period then his/her salary would be cut. After

an employee applying for resignation Human Resource Department will query all the

branches that the employee has any transaction with any branch or not. If the branches

reports are ok then the Head of HRD approve his/her resignation and send to the

employees Branch Manager.


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Conclusion

Human resource department is a basic part of the banks now days. So to run a bank well,

this department has a lot of activities to do. The HR department of the Banks is the

department from where the organization is actually monitored and controlled over time.

The HRM departments of this Bank is highly organized and well equifed with necessary

number of personnel and others. Almost the entire banks practise almost the same kind

of HR activities like compensation; arrangement of training program and seminar and so

on


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7.Highlights of HR practices in CitiBank

Recruitment Process

Citi bank recognize that the recruitment and retention of our employees is

crucial to the ongoing success of our business. Our aim is thus to ensure that all

candidates for roles within Citi experience a recruitment process that is of the

highest quality.

All India MA applicants typically go through the following recruitment process:

Stage 1- CV Submission

Stage 2- Application Submission by shortlisted candidates

Stage 3- First Level Interviews

Stage 4- Case Study Based Group Discussions (Business Specific)

Stage 5- Final Interview.

What sort of training does Citi offer new hires?

On-the-job training


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People who join citi benefit from a rigorous and structured development

program, which is reinforced through on-the-job training and further development

opportunities. Many business areas have developed mentor programs to smooth the

transition period for new employees and help them manage their careers.

Throughout the company, training is a formal part of the appraisal process at every

level.

What sort of appraisal system does Citi have?

Manager will be responsible for carrying out objective goal setting,development planning and an individual formal appraisal with you at least

once a year.

8.Bibliography and references

1. http://www.citibank.co.in/2. https://www.bankofamerica.com/3. http://www.managementparadise.com/forums/human-resources-

management-h-r/213917-human-resource-management-bank-america.html
http://www.citibank.co.in/https://www.bankofamerica.com/http://www.managementparadise.com/forums/human-resources-management-h-r/213917-human-resource-management-bank-america.htmlhttp://www.managementparadise.com/forums/human-resources-management-h-r/213917-human-resource-management-bank-america.htmlhttp://www.managementparadise.com/forums/human-resources-management-h-r/213917-human-resource-management-bank-america.htmlhttp://www.managementparadise.com/forums/human-resources-management-h-r/213917-human-resource-management-bank-america.htmlhttp://www.managementparadise.com/forums/human-resources-management-h-r/213917-human-resource-management-bank-america.htmlhttp://www.managementparadise.com/forums/human-resources-management-h-r/213917-human-resource-management-bank-america.htmlhttps://www.bankofamerica.com/http://www.citibank.co.in/


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4. http://www.rbs.in/India/index.htm5. http://www.authorstream.com/Presentation/hasnat1988-332998-hrm-

practices-bangladesh-hsbc-final-business-finance-ppt-powerpoint/
http://www.rbs.in/India/index.htmhttp://www.authorstream.com/Presentation/hasnat1988-332998-hrm-practices-bangladesh-hsbc-final-business-finance-ppt-powerpoint/http://www.authorstream.com/Presentation/hasnat1988-332998-hrm-practices-bangladesh-hsbc-final-business-finance-ppt-powerpoint/http://www.authorstream.com/Presentation/hasnat1988-332998-hrm-practices-bangladesh-hsbc-final-business-finance-ppt-powerpoint/http://www.authorstream.com/Presentation/hasnat1988-332998-hrm-practices-bangladesh-hsbc-final-business-finance-ppt-powerpoint/http://www.authorstream.com/Presentation/hasnat1988-332998-hrm-practices-bangladesh-hsbc-final-business-finance-ppt-powerpoint/http://www.authorstream.com/Presentation/hasnat1988-332998-hrm-practices-bangladesh-hsbc-final-business-finance-ppt-powerpoint/http://www.rbs.in/India/index.htm

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