A Report on Standard Chartered

Human Resource Management (MGT351)

 Acknowledgement

First of all, we are very grateful to our instructor Syed Imamuzzaman ( SYI ) Sir, Lecturer,
Department of Management, North South University, for imparting us the course contents and
lessons with such dedication, excellence and care and giving us the opportunity to implement our
learning outcomes in this project. This report has been an excellent learning opportunity for all of
us.

Secondly, we express our sincere gratitude to Mr. Ertiza Akando Shuvo for his relentless support
and information offering. Without his time and effort, it would not have been possible to conduct
the whole report itself.

We also want to thank our team members who contributed with utmost dedication and efforts to
make the report successful.
 EXECUTIVE SUMMARY

Standard Chartered is one of the most prominent bank of Bangladesh. In this given report, we
have outlined different factors of the HR practices covered in Standard Chartered as an
organization.

For the initial phase of the data collection and understanding how the organization works, we
took an interview of one the personal there through the phone. In the specific interview that took
place, we got a clear understanding of the overall organization and its business strategy. We have
collected information regarding the different Human resource-related factors including
recruitment processes, selection criteria, training and development programs, benefits and
services and also the different practices related to the Human Resource Management at Standard
Chartered. We also took data from various websites from the internet as well.

After the collection of data, we worked on the different topics of concern and tried to align it with
a strategic HR model. We have aligned the overall practices with the standard casual model of
HRM which portrays how the activities related to Human resources associates with the
organization strategy and thus leads to business performance.
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In the end, we put up the necessary outputs and gave recommendations regarding what else could
be done to improve the overall performance of the employees in accordance with new HR
practices that will benefit the overall organization and thus align with their business strategy.
Content
 s
Introduction.........................................................................................................................................1

Methodology.......................................................................................................................................1

Background information about the company......................................................................................2

Culture of interpersonal relationship...................................................................................................2

CURRENT HR FINDINGS................................................................................................................3

Implation of Strategic Human Resource Management(SHRM).........................................................5

Recommendation.................................................................................................................................6

Conclusion...........................................................................................................................................7

Reference.............................................................................................................................................8

Apendix...............................................................................................................................................9
 Introduction

Standard Chartered is the world’s command outgoing markets bank headquartered in London. Its
businesses however have constantly been overwhelmingly international. After the screen of the
subcontinent in 1947, Bangladesh became East Pakistan after that Standard Charted Bank initiated
its business in 1948 in the port city of Chittagong. It is the oldest international bank and they
arrogance their selves not only on their success as an international bank, dwelling on a rich history
of over a hundred years. Today they have 26 Branches and Booths geographically aligned to cater
to the key economic centers of the country. In 1972 SCB Bangladesh introducing the first ATM,
debit card, credit card, international debit and the first Shariah-compliant credit card, First 24-hour
contact center, online banking platform. SCB has bought out the Bangladesh actions of several
other foreign banks such as Grindlays bank and American express.

Methodology

For doing this report we collected information from both primary and secondary sources.

Primary sources: We toke phone interview with Ertiza Akando Shuvo one of the personal of
SCB Bangladesh.. He helped us in whatever query we had regarding the report.

Secondary sources: For more information of SCB Bangladesh Banks Human Resource practices
we took the help from several online, journals and websites.

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 Background information about the company

Standard Chartered was formed in 1969 through a merger of two banks. The Standard Bank of
British South Africa, founded in 1863 by John Paterson and The Chartered Bank of India,
Australia and China, founded in 1853 by James Wilson. Its headquarter is in London, England. It is
a universal bank with operations in consumer, corporate and institutional banking, and treasury
services. Despite its UK base, it does not conduct retail banking in the UK. Around 90% of its
profits come from Asia, Africa and the Middle East. It operates a network of more than 1,000
branches and outlets (including subsidiaries, associates and joint ventures) across more than 70
countries. More than 86000 people work in this company. With 150 years of business history it’s
considered as among the top 100 largest companies listed on the London Stock Exchange.

Standard Chartered Bank is the oldest international bank in Bangladesh. It opened its first branch
in the port city of Chittagong in 1948. In 1966 it opened a branch in Dhaka and shifter its
headquarter from Chittagong to Dhaka after the birth of Bangladesh in 1971. Today the bank has
26 Branches & Booths, 82 ATMs and employing over 2000 people in Bangladesh alone.

Culture of interpersonal relationship

“Bank with a soul” is a quote from the chairman José Viñals of the Standard Chartered Company.
It’s an attitude that explains their approach to everything they do, from their commitment to
sustainable growth to how they communicate with their clients and colleagues to their rich 150-
years heritage. Their global workforce helped them to define their core values, and how these can
shape their working culture. Being assertive, challenging one another, and living with integrity,
while putting the client at the heart of what they do.

The Company’s board is collectively responsible for its long-term success, and for ensuring that
the Group is led within a framework of effective controls. It sets their strategic direction, approves
their strategy and takes appropriate action to ensure that they have the resources they need to
achieve their strategic aspirations.
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The board considers the effect of the decisions it makes, and its responsibilities to all its
stakeholders, including colleagues, shareholders, regulators, clients and suppliers, as well as to the
environment and the communities where they operate.

CURRENT HR FINDINGS

Recruitment – Like every other bank, SCB also follows an efficient recruitment and selection
processto hire competent employees to meet their goals. They follow numbers of steps
thoroughly discussed below.

 Planning and forecasting – Planning and forecasting is done by the HR department

where they analyze what are the requirements of the organization. Then they pass it to
the Talent Acquisition head who asks the manager and line manager for the
requirements of the branch in detail. After the discussion of the plan out the job
description and the specifications for the position to be hired through specific
benchmark and processes.
 Sourcing – SCB has some media to find its appropriate employee. It can be both
internal and external. They have their own website where applicants can upload their
CV and after that the IT employees filter out the CVs and save it on the HRIS of the
bank for interviews. Their second source is job fair which tends to happen thrice a year.
This is mostly done is hotels and universities where applicants drop their CVs and later,
they are selected.

SELECTION PROCESS:

After the sourcing, the selection process starts. The IT department goes through all the CVs and
finds out the most competent ones. For that reason, the screening process takes place. Screening
means selecting the right candidates from all the applicants. Screening is usually done by
talented acquisition coordinated (TAC) or intern. After that evaluation takes place where the
bank judge finds out the best candidate for the desired position. Another comprehensive
interview is set for the chosen candidate that they must pass to get the job. If they pass the
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interview, they are offered an initial offer letter where all the details of the job are given and they
are asked if they have any concerns regarding their offered position and compensation. And if
the candidates are fine with their offers, they are given a final offer letter but before that, they
have to submit their details like photographs, NID, copies academic certificates, etc. verification
and medical tests are carried out as the very last step of CSB and they receive their final offer
letter.

Training and development: There is a two-day orientation program available in

CSB. The new employees are trained during these two days of orientation. The
types of training in CSB:

 Orientation training
 Product and operational process training
 Skill training
 On the job training and off-job training
 Specific competency training
 E-Learning training
 Performance-related training

Every employee is instructed how they should be doing their jobs properly in this time and they
are asked questions if they have any query. Some training programs available in CSB are:

 Go green campaign
 Training in a forex transaction
 Sport training
 Financial control policy
 Operational risk management
 Group compliance training

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 Benefit offered: SCB banks offer several benefits to all their employers. Some of them are:

 If the employee dies while working in SCB, their family is given 5lacs from group
insurance.
 Full medical support is given to the employer by LABAID under ALICO policy.
 After completion of three years, employees can apply for a loan under 3% interest
rate.
 Each month a certain amount of salary is deducted from the employee’s salary which is
5% and the bank contributes 5% too and is saved in the staff account.
 Gratuity; the current gross salary of the employee multiplied by the number of
years he/she worked in the company.

 Increment; it is based on the performance of the employee throughout the year which is
10%-15% of the salary.
 Provident fund; if the employee under SCB for 5years, he/she all these benefits.

Implication of Strategic Human Resource Management(SHRM)

The major motive of human resource management of SCB is to create and to keep the balance
between the firm’s goals and the interests of the employees. SCB conducts great customer service
where the communication skill is one of the initial factors. All the departments of SCB aim to be
more human to be more employee-oriented in their duties and goals. HR department would be able
to plan in advance for staff mobility or develop different programs to help develop potential of
their talents to another level. SCB does indeed view its employees as a strategic key assist in
churning out profits for the bank.

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 Recommendation

Standard Chartered Bank is a popular multinational banking and financial service providing
companies in Bangladesh. It is one of the best first 10th banks in Bangladesh. That means
Standard Chartered Bank obviously doing some great works to motivate people to open their
bank account in SCB. It’s just because of the good HR managing system. SCB is pretty much
conscious about their HRM practices. Their recruitment and training system is very much
influencing to the financial services in Bangladesh. SCB recruits the best applicants, regardless
of their gender or background. Which is a very good practice for the recruitment. After the
recruitment, Human resource managers of Standard Chartered Bank provide the employees with
leading-edge training. Leading-edge training helps one to increase profits in its organization by
making personal investment in its employees. By these leading-edge business consulting training
services, SCB tries to coach and train their employees to improve emotional intelligence,
mentorship, improve employee retention, handle conflict situations and to improve the
engagement to their work. Effective training programs help to increase on-the-job and off-the-
job performance of an employee that ultimately increases the organizational performance and
effectiveness. So, this can be said that Standard Chartered Bank is not only concerned about their
own profit but also they pay a great role regarding to their employees skill development. So that
the employees get a good experience from this bank which helps them in their future work and
for the organization as well. From the research I got few complexities in their management
systems and they are

 They don’t generally publish their recruitment advertisement in newspaper, so a good

amount of people are sometimes unknown to SCB's job recruitment. This can be changed
very easily and may help human resource managers to get some more talented candidates.
 SCB puts a very low preference on external hiring. For that potential candidates are not
able to prove their worth for not being appointed.
 SCB has a lack of initiating a process of evaluating potentials from the Internship for the
future possible recruitment on availability.

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 Conclusion

Standard Chartered Bank is the oldest and largest multinational commercial bank in Bangladesh.
The report represents that almost 1700 people work in SCB Bangladesh.. In Bangladesh, SCB
has 26 branches and 82 ATM booths. Their services to the people are pretty good. Standard
Chartered Bank Bangladesh providing unlimited withdrawal from the other ATMs. It’s called a
zero balance account. Many of the banks don’t provide this kind of facilities. Human resource
management sections of Standard Chartered Bank is well organized to grab the people's attention
with what people actually looking for. SCB ensuing their long term success. They are concerned
about their strategic goals, even take appropriate actions to ensure that they have the resources.
Standard Chartered Bank alone supports 12.6% of all garments industry trade. That means the
HR managers are also concerned to keep a good relationship with the garment sector as well. As
we know effective recruitment is important and recruitment process is handled by the HR
manager from every organization. Standard Chartered Bank limited has a team of effective
human resources which is efficiently managing the organization at its best.

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 Reference

1. https://www.sc.com/en/

2. https://www.sc.com/bd/

3. https://www.banksbd.org/scb/branches

4. https://en.wikipedia.org/wiki/Standard_Chartered

5.https://www.dhakatribune.com/hashtag/standard-chartered bank?
fbclid=IwAR3MLHv15nLJ3VSBMB- f5vSKkozrpgp7_khIQvTNScve4iZkXWjz5qw8-yc

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 Appendix

Questions:
1. What kind of procedure does SCB's HR manager follow during their recruitment?

2. After recruitment, do you guys train your new employees?

3. What kind of training do you guys prefer to provide?

4. Do you think Standard Chartered Bank's HR sector is strong enough to make such decisions?

5. Do you allow fresh graduates to take their internship in SCB?

6. Tell us about the company.

7. What do you think about the culture of interpersonal relationship of this company?

8. Is two days orientation enough for the new employees to understand and cope with the

organization's work?

9. What are the benefits offered to the new employees and old employees?

10. What are the strategies that SCB follows to make sure their employees stand out than other

banks?

11. What are gratuity and increment plans for the employees?