Recruitment and Selection Process in Standard Chartered Bank

CHAPTER 1 INTRODUCTION

INTRODUCTION

1.1 COMPANY’S PROFILE Standard Chartered – leading the way in Asia, Africa and the Middle East Standard Chartered PLC is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is ranked in the top 25 among FTSE-100 companies, by market capitalization. Standard Chartered has a history of over 150 years in banking and is in many of the world’s fastest growing markets. It has an extensive global network of over 1,200 branches branches (including (including subsidiaries, subsidiaries, associates associates and joint ventures) ventures) in 56 countries countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. As one of the world’s most international banks, Standard Chartered employs almost 44,000 people, representing 89 nationalities, worldwide. The strength of Standard Chartered Bank lie in its breadth, diversity and balance and is trusted across its network for its standard of governance and corporate responsibility. The Bank is committed to all its stakeholders by living its values in its approach to managing its people, exceeding expectations of its customers, making a difference in the communities that we operate in and working with its regulators. Standard Chartered uniquely derives 95% of profits from Asia, Africa and the Middle East. Serving both Consumer and Wholesale Banking customers, the Bank combines deep deep local local knowle knowledge dge with global global capabi capability lity to offer offer a wide wide range range of innova innovative tive products products and services services as well well as award winning winning solutions solutions.. Some of the major awards won in 2005 by the Bank include: •

IFR Asia’s Domestic Bond House of the Year

•

Finance Asia’s Best Local Currency Bond House & Best Securitization House

•

Asia Risk’s Interest Rates Derivatives House of the Year

•

Trade Finance’s Best Trade Finance Bank in Sub Saharan Africa

INTRODUCTION

1.1 COMPANY’S PROFILE Standard Chartered – leading the way in Asia, Africa and the Middle East Standard Chartered PLC is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is ranked in the top 25 among FTSE-100 companies, by market capitalization. Standard Chartered has a history of over 150 years in banking and is in many of the world’s fastest growing markets. It has an extensive global network of over 1,200 branches branches (including (including subsidiaries, subsidiaries, associates associates and joint ventures) ventures) in 56 countries countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. As one of the world’s most international banks, Standard Chartered employs almost 44,000 people, representing 89 nationalities, worldwide. The strength of Standard Chartered Bank lie in its breadth, diversity and balance and is trusted across its network for its standard of governance and corporate responsibility. The Bank is committed to all its stakeholders by living its values in its approach to managing its people, exceeding expectations of its customers, making a difference in the communities that we operate in and working with its regulators. Standard Chartered uniquely derives 95% of profits from Asia, Africa and the Middle East. Serving both Consumer and Wholesale Banking customers, the Bank combines deep deep local local knowle knowledge dge with global global capabi capability lity to offer offer a wide wide range range of innova innovative tive products products and services services as well well as award winning winning solutions solutions.. Some of the major awards won in 2005 by the Bank include: •

IFR Asia’s Domestic Bond House of the Year

•

Finance Asia’s Best Local Currency Bond House & Best Securitization House

•

Asia Risk’s Interest Rates Derivatives House of the Year

•

Trade Finance’s Best Trade Finance Bank in Sub Saharan Africa

•

Global Custodian’s Best Agent Bank in Asia

•

The Asset’s Best Cash Management Bank for South Asia

•

Retail Banker International’s Best Retail Bank in Asia Pacific.

The Standard Bank

Founded in the Cape Province of South Africa in 1862 by John Paterson. Commenced business business in Port Elizabeth, Elizabeth, South Africa, in January January 1863. Was prominent prominent in financing financing the development of the diamond fields of Kimberley from 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885 Expanded in Southern, Central and Eastern Africa and by 1953 had 600 offices. In 1965, it merged with the Bank of West Africa expanding its operations into Cameroon, Gamb Gambia, ia, Ghan Ghana, a, Nige Nigeria ria and and Sierra Sierra Leon Leone. e. In 1969 1969,, the the decis decisio ion n was was made made by Chartered and by Standard to undergo a friendly merger. All was going well until 1986, when a hostile takeover bid was made for the Group by Lloyds Bank of the United Kingdom. When the bid was defeated, Standard Chartered entered a period of change. Provisions Provisions had to be made against third world debt exposure and loans to corporations corporations and entrepreneurs entrepreneurs who could not meet their commitments. commitments. Standard Chartered Chartered began a series of divestments notably in the United States and South Africa, and also entered into a number of asset sales. From the early 90s, Standard Chartered has focused on developing its strong franchises in Asia, the Middle East and Africa using its operations in the United Kingdom and North America America to provide customers customers with a bridge between between these markets. Secondly, Secondly, it would focus on consumer, corporate and institutional banking, and on the provision of treasury services – areas in which the Group had particular strength and expertise. In the new millennium we acquired Grindlays Bank from the ANZ Group and the Chase Consumer Banking operations in Hong Kong in 2000.

Establishment of Standard Chartered Bank around the world

Country

Year Established

United Kingdom

1853

Australia

1964

China, India, Sri Lanka

1858

Mexico, Oman

1968

Hong Kong, Singapore

1859

Peru

1973

Indonesia, Pakistan

1863

Jersey

1978

Philippines

1872

Brazil

1979

Malaysia

1875

Venezuela

1980

Japan

1880

Falkland Islands, Macau

1983

Zimbabwe

1892

Taiwan

1985

The Gambia, Sierra Leone, Thailand

1894

Cameroon

1986

Ghana

1896

Nepal

1987

Botswana

1897

Vietnam

1990

USA

1902

Cambodia, South Africa

1992

Bangladesh

1905

Iran

1993

Zambia

1906

Colombia

1995

Kenya

1911

Laos, Argentina

1996

Uganda

1912

Nigeria

1999

Tanzania

1917

Lebanon

2000

Bahrain

1920

Cote d’Ivoire

2001

Jordan

1925

Mauritius

2002

Korea

1929

Turkey

2003

Qatar

1950

Afghanistan

2004

Brunei, UAE

1958

Chairman and Executive Directors

People

Standard Chartered Bank is committed to creating a healthy, safe and fulfilling work environment in which people can grow, individuals can make a difference and teams can win. We aim to attract, recruit and develop talented people, providing the skills and resources to succeed across our markets. Our employees are rewarded with competitive incentives to encourage them to achieve their potential within the Bank. Human Capital Roadmap

The Bank has developed a clear people agenda, reflected in our Human Capital Roadmap. It has five areas of focus, each supported by key people processes and interventions. The Roadmap provides a common and consistent framework for people management policies and practices across the Bank.

1.2 OBJECTIVES OF THE STUDY 

To collect and maintain relevant information regarding manpower planning



Familiarization with the recruitment policies of Standard Chartered Bank



To highlight the selection process



To have knowledge and understanding of job specification and job description of different positions in different grades



To study the strengths and weaknesses of present manpower planning, recruitment and selection of the organization

1.3 

SCOPE OF THE STUDY Scope of the study is to collect information regarding the manpower planning, recruitment & selection process of the Standard Chartered Bank



To analyze the level of satisfaction of the employees in respect of the process followed in the organization

1.4 RECRUITMENT Before an organization can fill a job vacancy, it must find people who not only are qualified for the position but also who want a job. Recruitment refers to organizational activities that influence the number and type of applicants who apply for a job and whether the applicants accept the jobs if offered. Thus recruitment is directly related to both human resource planning and selection. Although it can be quite expensive, organizations have not always viewed recruitment as systematically as other HR functions such as selection. During the coming years, however the importance of recruitment will increase for many organization's for at least two reasons: 

A majority of companies think that they will face shortage of employees who posses the necessary skills for the jobs.



The downsizing and cost saving measures undertaken by many companies in recent years have left recruitment budgets much smaller than before.

Thus recruiters will have to become acquainted with new and more cost-effective ways of attracting qualified applicants. A process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applications from which new employees are selected.

It is the process to discover sources of manpower to meet the requirement of staffing schedule and to employ effective measures.

Recruitment of candidates is the function preceding the selection, which helps create a pool of prospective employees for the organisation so that the management can select

the right candidate for the right job from this pool. The main objective of the recruitment process is to expedite the selection process.

1.5 METHODS OF RECRUTMENT IN STANDARD CHARTED  INTERNAL SORCES: •

JOB POSTING

•

SKILLS INVENTORY

•

JOB BIDDING

•

REFERRALS

 EXTERNAL SOURCES: •

SCHOOL AND COLLEGE RECRUTING

•

ADVERTISING

•

PRIVATE EMPLOYMENT AGENCIES

•

INTERNET AND THE WWW

1.6 METHODS OF RECRUITING Most job openings are filled with people from within the organization and entry level positions are the most likely to be filled by external sources. Methods for internal recruiting include job posting, skill inventories, job bidding and referrals. Methods of external recruiting include school and college recruiting, advertising, and using employment agencies and executive research firms and the internet. Internal versus external recruiting methods

Internal recruiting methods include posting position openings, distributing memos within the organization and searching organizational databases for a match between the

skills required to perform the job and the skills held by the current employees. This method of recruiting looks to internal sources to fill positions and encourages promotions from within. External recruiting methods include advertising position. Whether managers choose internal or external recruiting methods depends on the degree to which organization's strategy encourages promotions and transfers from within the organization.

Recruiting from within can lead to job satisfaction and

motivation if employees see new career opportunities available. In addition filling positions with existing employees ensures to large ext6ent that these employees are socialized as to the organization's culture and personality. However problems can arise if the internal promotion system is not viewed as fair. The best way to avoid negative backlash when hiring or promoting from within is to install fair practices and procedures.

If steps are taken to ensure a fair internal

promotional process, most people will accept their loss and remain productive and useful organizational citizen. External recruiting method helps bring new ideas and approaches to the organization. Internal recruiting methods Job posting

Many positions can be filled as a result of posting the job opening on the bulletin boards, announcing the opening in a company newsletter or posting announcement on the company’s intranet. A job posting procedure enables employees to strive for a better position within the company. Notices of important openings should include allimportant information about the job.

Some firms have turned to computers to make their job posting more fruitful. All employees who wish to participate to complete questionnaires about themselves, which include items concerning relocation willingness and preferences as well as training and educational backgrounds. A few skills are selected out of the total that best represent their functional skills. When a position needs to be filled the requirements are matched and candidates selected. Although positing jobs can be an efficient method of recruiting, number of problems has been associated. Example it can lead to personal bias and stiff competition.

Skills inventory

Another recruiting method is the use of skill inventories. Essentially a skills inventory includes a list of employee names, their education, training, present position, work experience, relevant job skills and abilities and other qualifications. The organization can search through the company skill inventory to identify potential candidates for the position opening.

Job bidding

These procedures typically specify that all jobs covered by the agreement must be fitted by qualified applicants from within the bargaining unit. Those interested in the vacancy bid for the job by applying if they are qualified. The individual fills the position with the highest seniority from among the qualified applicants. In some cases applicants take competitive examinations. However only current employees are eligible. Using a job bidding system is normally very easy. However it can present some difficulties. Referrals

An excellent source of information is current employees who may know someone who would be qualified and interested in the open position. To entice employees to make job referrals, some companies offer a referral bonus. People tend to associate with people like themselves, if the employee fits the organization, chances are his or her referrals will be good. Employees, whose referrals are hired, are often willing to serve as a mentor to ensure their referrals succeed in the company. EXTERNAL RECRUITING METHOD School and college recruiting

Recruiting at high school or vocational schools is often a strategic approach adopted by organizations with position openings at the entry level or internal training programs. Recruiting at the college level serves as a major source for acquiring managerial, professional and technical skills. The gap that exists between the skills that organization will need over the next several years and those currently possessed by potential employees is growing. The number of

jobs requiring a college degree is on the increase. Unfortunately for the organization it is a very time consuming and expensive exercise. But pressures from the external environment will continue to force organizations to be highly visible and active in this kind of recruiting. In college recruiting the organization sends an employee usually called a recruiter, to campus interview candidates and describes the organization to them. Coinciding with the visit, brochures and other literature about the organization are often distributed. The organization also runs ads to attract the candidates. In the typical procedure, those seeking employment register at the college placement service. This placement service is a labor market exchange providing opportunities for students and employers to meet and discuss potential hiring. Preliminary interview with employers is done. Students are given detailed influence about the job and the profile. Salaries are negotiated. The expenses are borne by the organization. Many of the changes are designed to reduce overall recruiting costs while maintaining a strong applicant's flow into the organization. The trend seems to be for an organization to develop a stronger, ongoing relationship with a relatively select number of schools. Advertising

Advertising job openings in newspapers, magazines, newsletters and other media sources is a relatively inexpensive recruiting mechanism. Advertising is useful for filling open position quickly. Advertising usually does not target a specific audience. Specified defined advertisements will attract qualified applicants, dissuade unqualified ones from applying and make the recruitment process more efficient. Private employment agencies

Private employment agencies vary considerably in size and effectiveness as good sources of employee and must be chosen carefully by employers and job seeking alike. A preliminary interview is conducted for the applicants. Unfortunately some agencies are more concerned with placing employees quickly than in effecting a good match between the employee and the organization. The discrepancy can be reduced if the HR managers give detailed and specific requirements. The lnternet and the WWW

One of the fastest growing recruitment methods is the internet and the WWW. Companies who do use the internet as a recruiting source appear to be happy with the process and the results. It allows access to broader set of people and hence broader set of expertise and skills.

It is also faster and convenient. However it may not be

accessible to all.

1.7 ALTERNATIVES TO RECRUITMENT Another strategic business decision can be made is not to recruit. Instead they can rely on alternative staffing options. Common alternative staffing options 

Traditional temporary help

A potential employee is recruited, tested, screened and employed by a temporary staffing agency. They assign qualified individuals to work at a clients site, generally to support or supplement the current work force. 

Long term temporary assignments

It is becoming increasing popular for an organization to staff part of its work force with temporary workers on an ongoing basis. These individuals are not considered short-term replacements, but more a part of the regular work force. 

Part time employees

Workers who work less than 40 hours a week are considered part time employees. They can be organization's pay roll or assigned via a temporary agency. 

Employee leasing

A Company will transfer some of its employees to a leasing firm. The leasing firm then leases back the workers to perform the same job they did for the Client Company. However the leasing firm is now responsible for cost and work associated with the typical HR functions such as Payroll, benefits and record keeping. 

Independent contractors

Independent contractors are self-employed individuals who market a specific skill they posses to a variety of companies. A Company will hire them for a specific project or contract.

Payment is usually based on the time and effort the

individuals put forth on the project and expenses are frequently reimbursed.

1.8

S.W.O.T. ANALYSIS

Business firms undertake SWOT analysis to understand the external and internal environment. SWOT, which is the acronym for Strength, Weakness, Opportunities and Threats, is also known as WOT-UP Analysis. Through such an analysis strength and weakness existing within an organization can be matched with the opportunities and threats operating the environment so that an effective strategy can be formulated. An effective organization strategy, therefore, is one that is capitalized on the opportunities and through the use of strengths and neutralizes the threats maximizing the impact of weakness.

Strengths: •

Well Reputed Bank

•

Expanding into New Location

•

Well-Covered Market in Delhi

•

Competitive Products

•

Relatively New Team

•

Appraisal techniques are used.

Weaknesses: •

HDFC Bank, ICICI Bank, SBI Bank and Citibank dominate players in the Market

•

Fewer locations as compared with HDFC and ICICI Bank

•

Service delivery / Logistics perception is weak

•

Negative Environment

•

High interest rate as compared to others housing finance institution.

•

Top management takes large amount of time to approve high value loan borrowers.

Opportunities: •

Standard Chartered Bank can offer a complete relationship

•

Advantage of large network over other bank’s

•

Opportunity to pitch in for National and International convenience

•

Special rates of interest are offered during exhibitions.

•

Product life cycle is to be reviewed.

Threats: •

Other Banks offering lower AQB

•

People looking for change (?)

•

The competition in market is very high due to the private players.

•

The rates of interest of other players are quite low.

•

Innovative schemes from other players .

CHAPTER 2 METHODOLOGY

METHODOLOGY

2.1

METHODOLOGY

Instrument used to measure the system in Standard Chartered Bank was of primary and secondary kinds. The primary source of data was through questionnaire schedule. The secondary source included brochures, annual reports, magazines, employee’s handbook, magazines and journals

DATA SOURCES

•

PRIMARY DATA

•

SECONDARY DATA

PRIMARY DATA:-

Primary data is that kind of data which is collected by the investigator himself for the purpose of the specific study. The data such collected is original in character. The advantage of third method of collection is the authenticity. A set of question s was put together in the form of questionnaire with. Question. The method of sampling was the random method as it is unbiased. Basic methods of collecting Primary Data: 1)

Questionnaire Method: The questionnaire used by us for the purpose of data

collection were of structured type( Non-disguised as well as Disguised) 2) Contact Method: In order to derive information from the intended organization, it was elementary for us to search for a link, which could enable us to conduct a research in that organization. The personal contact of one of the group members in the aforesaid organization helped us in getting an appointment soon.

SECONDARY DATA:-

When an investigator uses the data that has been already collected by others is called secondary data. The secondary data could be collected from Journals, Reports and Various Publications. The advantages of secondary data can be economical, both in the term of money and time spent. The researcher of the reporter also did the same and collected secondary from various Internet sites like google.com, altavista.com and many more. The researchers of the reporter also visited various libraries for collection of the introduction part. Basic methods of collecting secondary data:

1) Magazines 2) Books 3) Brochure 4) Web Sites

2.2 SELECTION OF SAMPLES:Sample size is 30

2.3 STATISTICAL TOOLS:It is very difficult to have detailed knowledge of employees working in Standard Chartered Bank. So the surveyor has taken 20 samples due to limited resources and time factor. The management ranks are working in different categories of different department. Thus it becomes equally justified to plan in such a way that it covers all departments.

2.4 TOOLS:⇒

Pie chart

⇒

Bar diagram

⇒

Text and statements

2.5 DATA COLLECTION:The questionnaire was served to senior manager, managers and employees. The liked scale was used for calculating scores, which is shown in every question immediately after the table. The points given for each scale are as follows •

Strongly agree (5)

•

Moderately Agree (4)

•

Strongly Disagree(3)

•

Moderately disagree(2)

•

Can’t say(1)

2.6 QUESTIONNAIRE DESIGN Questionnaires are one of the most important and commonly used research instruments to collect primary data. It Is self-administered process whereby the respondent himself reads the questions and records his answers without the assistance of an interviewer Multiple choice questions were asked from the interviewer as it consumes less time and gives us the exact answers. The main objective of choosing such question was to extract the clear picture from the customers like what they actually expect from a good banking system.

CHAPTER 3 Data Presentation & Analysis

DATA ANALYSIS AND INTERPRETATION

Q1)

In your organization the manpower requirement is identified well in advance?

%100 N I 90 S 80 E E 70 Y 60 O 50 L P 40 M E 30 F 20 O 10 . O 0 N

STRONGLY AGREE

Mode rate ly Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY

OPTIONS OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Can’t say (1)

IN NUMBER 15 70 0 15 0

IN PERCENTAGE 15% 70% 15% -

INTERPRETATION 1.

15% of the employees are strongly agreed that in our organization the manpower requirement is identified well in advance.

2.

70% of the employees are moderately agreed that in our organization the manpower requirement is identified well in advance.

3.

15% of the employees are moderately disagreed that in our organization the manpower requirement is identified well in advance.

Q2)

Is there any well defined recruitment policy?

%100 N I 90 S 80 E E 70 Y 60 O L 50 P 40 M 30 E F 20 O 10 . O 0 N

STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY


IN NUMBER 45 50 5 0 0


INTERPRETATION

1.

45% of the employees are strongly agreed that there is well defined recruitment policy.

2.

50% of the employees are moderately agreed that there is well defined recruitment policy.

3.

5% of the employees are strongly disagreed that there is well defined recruitment policy.

Q3)

Do you think present selection process is feasible for selecting the employees?


STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY

OPTIONS

OPTIONS Strongly agree (5) Moderately agree (4) Strongly disagree (3) Moderately disagree (2) Can’t say (1)

IN NUMBER 10 80 0 10 0


INTERPRETATION 1.

10% of the employees are strongly agreed that present selection process is feasible for selecting the employees.

2.

80% of the employees are moderately agreed that present selection process is feasible for selecting the employees.

3.

10% of the employees are moderately disagreed that present selection process is feasible for selecting the employees.

Q4)

Are the views of the concerned department head are given special attention while selecting the employees of the department?

YES

OPTIONS Yes No

NO

IN NUMBER 60 40

IN PERCENTAGE 60% 40%

INTERPRETATION

1.

60% of the employees said that views of the concerned department head are given special attention while selecting the employees of the department.

2.

40% of the employees said that views of the concerned department head are not given special attention while selecting the employees of the department.

Q5)

Are external sources are relied upon when requirement arises?

YES

OPTIONS Yes No

NO

IN NUMBER 60 40


INTERPRETATION

1.

60% of the employees said that external sources are relied upon when requirement arises.

2.

40% of the employees said that external sources are not relied upon when requirement arises.

Q6)

To identify the employees’ capability and aptitude psychological testing is used. Do you think it is useful to use this technique?

%100 N I 90 S 80 E E 70 Y 60 O L 50 P 40 M E 30 F 20 O 10 . O 0 N

STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY

OPTIONS


IN NUMBER 35 50 0 15 0


INTERPRETATION

1.

35% of the employees are strongly agreed that it is useful to identify the employees’ capability and aptitude psychological testing.

2.

50% of the employees are moderately agreed that it is useful to identify the employees’ capability and aptitude psychological testing.

3.

15% of the employees are moderately disagreed that it is useful to identify the employees’ capability and aptitude psychological testing.

Q7)

Is there any participation by the line manager in planning and recruitment?

%100 N I 90 S 80 E E 70 Y 60 O 50 L P 40 M 30 E F 20 O 10 . O 0 N

STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY


IN NUMBER 5 45 15 20 15

IN PERCENTAGE 5% 45% 15% 20% 15%

INTERPRETATION

1.

5% of the employees are strongly agreed that there is participation by the line manager in planning and recruitment.

2.

45% of the employees are moderately agreed that there is participation by the line manager in planning and recruitment.

3.

15% of the employees are strongly disagreed that there is participation by the line manager in planning and recruitment.

4.

20% of the employees are moderately disagreed that there is participation by the line manager in planning and recruitment.

5.

15% of the employees can’t say that there is participation by the line manager in planning and recruitment.

Q8)

Is principal of right man for the right job is strictly followed?


STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY


IN NUMBER 20 60 5 10 5

IN PERCENTAGE 20% 60% 5% 10% 5%

INTERPRETATION

1.

20% of the employees are strongly agreed that principal of right man for the right job is strictly followed.

2.

60% of the employees are moderately agreed that principal of right man for the right job is strictly followed.

3.

5% of the employees are strongly disagreed that principal of right man for the right job is strictly followed.

4.

10% of the employees are moderately disagreed that principal of right man for the right job is strictly followed.

5.

5% of the employees can’t say that principal of right man for the right job is strictly followed.

Q9)

Which internal or external source of recruitment is followed by the company?

EMPLOYMENT EXCHANGE

CAMPUS INTERVIEW

ADVERTISEMENT

PROMOTION

TRAINING

OPTIONS Employment exchange Campus interview Advertisement Promotion Training

IN NUMBER 0 30 50 10 10

IN PERCENTAGE 30% 50% 10% 10%

INTERPRETATION

1.

30% of the employees said that recruitment is made through campus interview.

2.

50% of the employees said that recruitment is made through advertisement.

3.

10% of the employees said that recruitment is made through promotion.

4.

10% of the employees said that recruitment is made through training.

Q10) Recruitment is made according to …….

IMMEDIATE NEED OPTIONS Immediate need Yearly wise Both Any other

YEARLY WISE IN NUMBER 55 10 25 10

BOTH

ANY OTHER

IN PERCENTAGE 55% 10% 25% 10%

INTERPRETATION

1.

55% of the employees said that recruitment is made according to immediate need.

2.

10% of the employees said that recruitment is made according to Yearly wise need.

3.

25% of the employees said that recruitment is made according to both the needs.

4.

10% of the employees said that recruitment is made according to any other need.

Q11) Is any traveling allowance given for outstation candidates who are called for interview?

YES

OPTIONS Yes No

NO

IN NUMBER 50 50


INTERPRETATION

1.

60% of the e mployees said t hat traveling allowance i s given f or o utstation candidates who are called for interview.

2.

40% of the employees said that traveling allowance is not given for outstation candidates who are called for interview.

Q12) Is the employee aware of the positive and negative effects of the job?

%100 N I 90 S 80 E E 70 Y 60 O 50 L P 40 M 30 E F 20 O 10 . O 0 N

STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY

OPTIONS


IN NUMBER 35 55 10 0 0


INTERPRETATION

1.

35% of the employees are strongly agreed that the employee aware of the positive and negative effects of the job.

2.

55% of the employees are moderately agreed that the employee aware of the positive and negative effects of the job.

3.

10% of the employees are strongly disagreed that the employee aware of the positive and negative effects of the job.

Q13) Do you think succession planning is done in advance?


STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY


IN NUMBER 10 60 10 5 15

IN PERCENTAGE 10% 60% 10% 5% 15%

INTERPRETATION

1.

10% of the employees are strongly agreed that succession planning is done in advance.

2.

60% of the employees are moderately agreed that succession planning is done in advance.

3.

10% of the employees are strongly disagreed that succession planning is done in advance.

4.

5% of the employees are moderately disagreed that succession planning is done in advance.

5.

15% of the employees can’t say that succession planning is done in advance.

Q14) Is induction programme is conducted immediately after the recruitment?


STRONGLY AGREE

Moderately Agree

STRONGLY DISAGREE

Moderately Disagree

CAN'T SAY


IN NUMBER 60 35 5 0 0


INTERPRETATION

1.

60% of the employees are strongly agreed that Induction programme is conducted immediately after the recruitment.

2.

35% of the employees are moderately agreed that Induction programme is conducted immediately after the recruitment.

3.

5% of the employees a re strongly disagreed that Induction programme is conducted immediately after the recruitment.

CHAPTER 4 Summary & Conclusions

FINDINGS •

Bank follow manpower planning in a very systematic way but being systematic they have to follow various steps & it is found to be very time consuming.

•

Bank has been successful in removing the surplus manpower.

•

Job specification and job description are well defined to all employees and they know what is expected of them. Everything is properly documented and gives in black and white.

•

There is no fix percentage of employees that are to be recruited for each source every year.

•

Representation of candidates belonging to minority class communities is included in the selection committee, taking care of interest of minorities.

RECOMMENDATIONS •

Standard Chartered Bank should continue using redeployment, retrenchment and instruments like VRS in order to reduce effectively its staff in areas of surplus.

•

Recruitment activities in Standard Chartered Bank could be combined with other such PSUs for the purpose of cutting on advertisement costs and cost involved in holding of interviews plus outside help could taken for organizing interviews.

•

Summer trainees should be allowed to avail various welfare facilities like travel free in company buses, subsidized food etc. so as to attract them to apply for job in Standard Chartered Bank.

•

The internal candidates though given relaxation during the selection procedure are not given preference over external candidates since Standard Chartered Bank adopts 50:50 formula. I think it should get away with this formula and encourage the present employees to opt for higher levels within Standard Chartered Bank.

LIMITATIONS

•

Fewer locations as compared with HDFC and ICICI Bank: Standard Chartered Bank has very few branches as compared to others. Customers feel difficulty to get to the bank. In emergency they have to go far from their home.

•

Service delivery / Logistics perception is weak: Its service is very slow, customers doesn’t get quick response from employees there. They doesn’t understand customers problem well.

•

Negative Environment: In Standard Chartered Bank employees doesn’t cooperate with each other, they feel jealous among themselves and with this they lack customer’s perception.

•

High interest rate as compared to others housing finance institution: Standard Chartered Bank has greater interest rate as compared to others and because of this customers doesn’t invest their money in its policy.

•

Top management takes large amount of time to approve high value loan borrowers: Its top management always take more time while approving high value loans and by this customers move to other financial institution for high value loan.

BIBLIOGRAPHY

BIBLIOGRAPHY

BOOKS

•

MAMORIA, C.B, Personnel management, Himalaya publishing house Mumbai, 1982.

•

T.N CHHABRA, Principles & practices of management, Dhanpat Rai and co. (p) Ltd, Delhi, 2000.

MAGAZINES AND BROACHERS

•

Annexure from bank.

•

Manuals, reports from the bank.

QUESTIONNAIRE

Name…………………….

Designation……………………….

Department…………………..

Q1)

In your organization the manpower is identified well in advance?

a) Strongly agree b) Moderately agree c) Strongly disagree d) Moderately disagree e) Can’t say

Q2)

Is there any well defined recruitment policy?


Q3)

Do you think present selection process is feasible for selecting the employees?


Q4)

Are the views of the concerned department head are given special attention while selecting the employee of the department?

a) Yes b) No Q5)

Are external sources are relied upon when requirement arises?

a) Yes b) No Q6)

To identify the employees’ capability and aptitude psychological testing is used. Do you think it is useful to use this technique?


Q7)

Is there any participation by the line manager in planning and recruitment?


Q8)

Is principal of right man for the right job is strictly followed?


Q9)

Which internal or external source of recruitment is followed by the company?

a) Employment exchange b) Campus interview c) Advertisement d) Promotion e) Training Q10)

Recruitment is made according to…….

a) Immediate need b) Yearly wise c) Both d) Any other Q11) Is any traveling allowance given for outstation candidates who are called for interview?

a) Yes b) No

Q12)

Is the employee aware of the positive and negative effects of the job?


Q13)

Do you think succession planning is done in advance?


Recruitment and Selection Process in Standard Chartered Bank

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