1. Objective of the Study There are aims and objectives of the study. This includes: 1. To determine how HSBC selects their employees. 2. To determine what HSBC do to motivate their employees. 3. To determine the things done by HSBC to give job satisfaction to their employees. 4. To determine and assess the effects of employee motivation and job satisfaction to HSBC. To identify how successful the company is and how the employees contribute to the success of the company. 2. Scope of the Study The study intends to determine the effects of employee motivation and job satisfaction to HSBC’s business success.
The study limits itself on gathering information from employees of HSBC. They will be helpful in knowing how are they motivated and satisfied by the company. 3. Methodology Research Strategy For this research data will be gathered through collating published studies from different books, articles from different related journals and studies, and other literary instruments. The next thing that will be done is to make a content analysis of the collected documentary and verbal material.
The study will then summarize all the necessary information. By summarizing it additional knowledge of the study will be imparted to the researcher.
The study will then make a conclusion based on the said information. Data Collection and Analysis The analysis shall use interviews of selected HSBC Bangladesh Personnel. Moreover, the study shall also use previous studies and compare it to its existing data in order to provide conclusions and competent recommendations. Primary Data The primary source of data will come from an interview with an HSBC Bangladesh Personnel.. The primary source of data will give actual responses from people who encounter different kinds of things. This kind of data will give a further understanding of the situation.
Secondary Data The secondary source of data will come from research through the internet; books, journals, related studies and other sources of information. Acquiring secondary data are more convenient to use because they are already condensed and organized. This kind of data can be found anywhere and at any time that is needed. Moreover, analysis and interpretation using the secondary source of data can be done more easily. 4. Limitations In preparing this report we faced certain limitations. One of the major constraints is the confidentiality of information.
Participants in the study may not be keen to provide information. This may cause the project some wasted time. Another constraint is lack of sufficient alternative sources prevented verification of information. It also needs to be mentioned that the analysis and the future projection presented here may vary with opinions of experts in this field. Lastly a constraint for the study is the unwillingness to participate of the personnel. Some of the respondents may not be willing to join such study because they believe it is just a waste of time and energy. 5. Executive Summary
Banking Industry is the potential industry where the growth of a country depends a lot. In Bangladesh banking industry is also very influential. This industry is very big in Bangladesh and holds a lot of skilled employees. So Human Resource Management (HRM) is very much applicable as well as practiced in the banks of Bangladesh. HSBC is known as the world’s local bank. It has reached to the Bangladeshi market not only to boost up the banking system of onshore but also offshore banking. To compete with the global challenge HSBC has developed a skilled and efficient workforce.
This large employee force is managed totally by the HR department of HSBC. This HR department meets all the requirements of the employees from salary to rewards, hiring to firing employees and other important developing trainings. Moreover, they believe that to achieve the first challenge of a moral ethical society, enterprise should embrace CSR best practice that helps to maintain and raise ethical standards in business decision making. Enterprise that is conscious of CSR will not just consider its own economic well-being, but also that of the society and environment in which it operates.
One of the difficult challenges to the HR of HSBC is to effectively motivate those who are working for the organization. One of the reasons behind it is that it is as difficult as motivation can be personal. They conduct motivational session through evaluating their employees’ performance and depending on their performance, compensation, incentive, different type of loans and other facilities are provided to ensure their deserved style of living. In this report the Overall work of the human resource department will be focused and described.
To know the details of the company we interviewed some HR personnel of HSBC and other information were collected and gathered with the help of the internet. HSBC is the organization where actually the HR activities are applied with a huge effort and the outcome is also very satisfying. 6. Introduction With the increase in the size and complexity of business organization, man has become the most important factor in business. Business needs people as owners, employees, and consumers. Organizations need people to make them operated.
Our report is focused on the selection process, motivational factors and CSR activities of HSBC and how they use these to develop the organization. This report provides the details about the organizations’ : * Recruitment * Selection and testing * Benefits and rewards * Training and Development * CSR Activities Bangladesh is a potential industrial country. It has a huge human power. Unskilled labor is the main opportunity to develop a industry in this country. When this is skilled a huge profit an economic development can be achieved easily. HRM is the track by which the country’s organizational activities can be developed.
In the year 2008 Bangladesh banking industry was ranked in 59 by the World Bank. The industry analysis says: * 87. 6 scored in world banking industry * 42% growth in deposit and interest skimming * Worth more $ 92. 5 billion * GDP growth rate is 6. 56 * Remittance in FY2008 is US$ 7,940 million * Industry growth rate 6. 9% in FY2008 6. 1. History The HSBC Group is one of the world’s largest banking and financial services organizations. Many of its principal companies opened for business over a century ago and they have a history rich in variety and achievement.
The Group has around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. HSBC provides a comprehensive range of financial services through four customer groups and global businesses: Personal Financial Services (including consumer finance); Commercial Banking; Corporate, Investment Banking and Markets; and Private Banking. The HSBC Group Fact Sheet gives an overall view of the Group’s global services. Established in Hong Kong in March 1865 and in Shanghai one month later, The Hong Kong and Shanghai Banking Corporation is the founding member of the HSBC Group.
It is the Group’s flagship in the Asia-Pacific region and the largest bank incorporated in Hong Kong. Today, the HSBC group offers a comprehensive range of financial services to serve the needs of its customers. HSBC is one of the largest banking organizations in the world. In Bangladesh, the HSBC group’s history dates back to 1996 when the Hongkong and Shanghai Banking Corporation Limited opened its first branch in Dhaka. Today, the HSBC group offers a comprehensive range of financial services to serve the needs of its customers.
In Bangladesh, HSBC is operating with 9 offices and 16 ATMs in Dhaka, Chittagong and Sylhet. HSBC have 580 employees working for them. During the last 15 years Bangladesh has seen a steady increase in the economy. More foreign investment has been coming in every year. The professional and the middle class people have more buying power. They also wanted a new and improved banking system. The traditional banking system was backdated and took long time to process. HSBC provided up to date banking services to their customers. Science than they have been setting the standard for other banks. 6. Foundation and Growth The HSBC Group is named after its founding member, The Hong Kong and Shanghai Banking Corporation Limited, which was established in 1865 in Hong Kong and Shanghai to finance the growing trade between China and Europe. The inspiration behind the founding of the Bank was Thomas Sutherland, a Scot who was then working as the Hong Kong Superintendent of the Peninsular and Oriental Steam Navigation Company. He realized that there was considerable demand for local banking facilities both in Hong Kong and along the China coast and he helped to establish the Bank in March 1865.
Then, as now, the Bank’s headquarters were at 1 Queen’s Road Central in Hong Kong and a branch was opened one month later in Shanghai. Throughout the late nineteenth and the early twentieth centuries, the Bank established a network of agencies and branches based mainly in China and South East Asia but also with representation in the Indian sub-continent, Japan, Europe and North America. In many of its branches the Bank was the pioneer of modern banking practices. From the outset, trade finance was a strong feature of the Bank’s business with bullion, exchange and merchant banking also playing an important part.
Additionally, the Bank issued notes in many countries throughout the Far East. During the Second World War the Bank was forced to close many branches and its head office was temporarily moved to London. However, after the war the Bank played a key role in the reconstruction of the Hong Kong economy and began to further diversify the geographical spread of the Bank. HSBC Holdings plc, the parent company of the HSBC Group, was established in 1991 with its shares quoted on both the London and Hong Kong stock exchanges. Services Offered By HSBC HSBC offers the following services * Global Banking and Markets * Private Banking * Commercial Banking Personal Finance Services Products and services HSBC provides Corporate Banking, Payments and Cash Management, Trade Services, Treasury, Institutional Banking, Hexagon, Custody and Clearing and Personal Financial Services, Investment Banking and Services. Their services are: * current accounts * savings accounts * mortgages * insurance * credit cards * loans * pensions * investments * Consumer Services (including Finance, now a part of Personal Financial Services due to the increasing integration of these businesses Consumer Finance). They also provide student loans, car loan, small business loan, 24 hours ATM service etc.
During the last five/six years new banking services have been established. Banks like American express Bank, Standard & Chartered Bank, Dutch Bangla Bank, Mercantile Bank, Citi Bank, Dhaka Bank, Brac Bank, Eastern Bank etc are giving HSBC a steep competition. 7. Selection Process Selecting is the process of choosing from a group of applicants that individual deemed to be best qualified for particular job opening. For selecting a candidate three things must be kept in mind that is the ability to do a specific job whether the candidate is interested to do the job or not and how well the applicants fit for the organization.
Objective of Well Organized Selection Program The main objective of good employee selection is to acquire people who possess the ability and competence to accomplish successfully the duties and responsibilities not only of the job to be filled but also of the potential to grow with the company. If a person is assigned to a job to which his ability, character, and temperament are not suited, he is likely to fail and thereby create a problem for management.
It is therefore good personnel policy to attract and hire for every vacant position those who possess the ability, personality and potential to grow with the company and develop them into efficient, loyal and satisfied employee. Reason for proper selection of employees There are several reasons why employees must be well selected; some of them are: 1. Company objective are better achieved by workers who have been properly selected. 2. An incompetent worker is a liability to the company. 3. Personnel requirements vary from job to job. 4. People have varying degree of intelligence, aptitudes, and abilities. . Individuals have different interests, goals, and objectives in life. 6. Careless hiring is costly and can cause problems to the company, especially to the supervisors and managers who have to deal with the workers. 7. 1 Stages of Selection 1. Initial Screening At the first stage they collect the CV of candidates and then do the initial screening of their application form and information provided on the application is compared with the job description and specification to check whether the candidate is suitable for the specific job or not and the urpose of this initial screening is to eliminate the application forms which do not fulfill the asked requirement or have fake information; here they focus on the “red flag” areas- that is the whether the application form that has incomplete information, gaps in employment history, several job moves, short period of employment, regression in job title, obscure colleges and universities attended, questionable certificate, poor presentation of resume and also check whether the candidate has conveyed a positive image or not, evidence of contribution has given or not logical presentation carefully written or not, or whether it is generalized or specific . They try to ignore some information so that they don’t select candidates based on biasness; such as race, sex, religion, spouse children information, physical defects etc. 2. Preliminary Interview In the second stage, they take a premiliraly interview to checks if the job applicant has accomplished either the Employee Information Sheet or Application Form. Using this as a basis, the interviewer then would ask the job applicant certain questions to check, clarify, or communicate information to the job applicant.
Then, information about the company like its organizational goal and philosophies, people behind the organization, company history and products, environment for work, opportunities for growth with the organization are discussed. 3. Employment Testing (Written test) In the third stage, Employment tests are taken for job applicants to evaluate the skills characteristics that cannot be measured using references, application forms, or interviews. Written test are conducted to find out the ability, knowledge and skills of individual related to the field where he/she is going to work but special emphasis is given in English and mathematics skills. The test to give job applicants should be those that work or is relevant to the position.
Employment tests based on personal characteristics intended to be evaluated can be classified into: intelligence, aptitudes, interest, personality, and achievement or proficiency. It also includes work sample test. 4. Main Interview Types of Interview a. Structured Interview – The structured interview ask for specific information. The questions give more emphasis on the habits and character traits of the person. Here the interview questions are arranged based on the education related and the job the candidates are going to do and a structured is maintained to every candidate. b. Unstructured interview – In unstructured interview, the sequential or pattern of question vary from candidate to candidate.
Everyone is not asked the same types of questions and the interviewer randomly ask question to the candidates whatever comes in their mind to test their commonsense , intelligence, conceptual and analytical ability and so on and are open-ended and require a narrative answer. c. Group Interview – This interview is conducted by panel or committee of three or five interviewers sitting as a panel. The manager of the department concerned is usually a member of the group of interviewer. It is used for the positions where, good leadership and interpersonal skills are required, so that they can recognize the most stress taking person but this process is very much time consuming, so they are follow in very rare cases. d.
Stress Interview- Here four to five interviewers are present and do conversation with only one candidate and here the interviewer ask questions in such a way that creates a stressful situation for the candidate, like two or more interviewer ask questions at the same time to check whether the candidate has the capacity to answer all the questions with full patient or not. These sorts of interviews are normally taken for the candidates who will directly face customers for giving direct o0r face to face service. For other post they normally do not use this interview pattern. 5. Candidacy It is also known as assessment test. This test includes in basket exercise, different types of management games, leaderless group discussion to test who has more leadership skill in a group.
Case studies are also done here like different types of cases are given to the candidates to make proper judgment and solutions to check their analytical and conceptual ability. These tests are normally given for the managerial level. 6. Verification In this stage, HSBC do reference check to verify the accuracy of the data furnished, to uncover any damaging information and also the candidate has to submit a character certificate from a gazette officer or from any member of the civil society like university teacher. 7. Final Selection In this stage, HSBC offers the candidates who have successfully passed all the above tests by telephone at the initial stage and then provide the appointment letter. 8. Physical examination and background investigation
HSBC, then perform medical examinations through a certified diagnostic center or hospital to check whether the candidate have any contagious diseases like Hepatitis B, Tuberculosis or HIV/AIDS and determine whether the candidate has physical capabilities of performing the work or not, since the pressure of work at HSBC is very high. They also do this medical check up to keep a record of candidates’ health for future insurance or compensation claims. Drug and alcohol test is also done. In this stage, background investigation test is also done, to check the criminal records and credit check; since HSBC is a financial institution so it is very essential to check these records. 9. Job Offer Finally the candidate who has passed all these stages successfully is given the final job offer 7. 2 Recruitment Strategies Recruitment is the process of locating individual with sufficient qualification and number and encourages them to apply for jobs.
The purpose of recruitment is to ensure a sufficient pool of applicants from which the most qualified individual may be selected. Two types of recruitment take place at HSBC. Both the external and internal recruitment; based on the situation they take either from external or from internal employees for a specific post. External Recruitment Process The objective of external recruitment process is to identify and attract job applicants outside the organization. Based on the organizational and administrative issues, the external recruitment is done. In HSBC, they use their in-house agency ie, they don’t hire recruit employees from other external agencies; rather they have their own HR department who do the selection and recruitment activities.
In case of administrative issues, the company selects recruiter who has strong interpersonal skill, knowledge about the job and organization and the carrier development program and are enthusiasm about the organization. If required HSBC also provides the recruiter’s training, how to take proper interview , to improve interpersonal skill, laws and regulations of the company, knowledge about the job analysis, which includes job description and specification and how to select a candidate, more appropriately and they also provides reward to the recruiter, if they can select very good employees, very efficiently. And they also keep all records of the candidates being selected, and also the candidates who do not; for future reference.
Some strategies of external recruitment Open / targeted recruitment- In Open recruitment, anyone can apply for a specific position and the very little requirement is mentioned in the job specification. And it is used when large numbers of applicants are required. For example, for customer service officer, any qualified graduate can apply for them but they must have in them good skill for handling a customer. But there are some positions, where they used targeted recruitment where they mention clearly what sorts of candidates they are looking for like, years of experience, specific educational background, demographics in terms of gender, age, etc.
And most of the time they prefer targeted recruitment because open recruitment is more costly and time consuming, since it takes more time to sorting out the right application form an here also highly qualified candidates are overlook or the highly qualified candidates are often discourage to apply for a job; so they use most of the time targeted recruitment. Recruitment source- they don’t recruit any high school graduate for they don’t have any position where they can be placed; except for the peon or security guards. They mainly recruit from different colleges and universities in Bangladesh and also from abroad and also recruit from their competitors and from other organizations like telecom sector, FMCG etc.
They also often recruit from unsolicitated applicants, who physically walk into the organization and submit their resumes, without any advertisement. Recruitment method- They mainly do advertisements which they put in internet and news paper, with the job specification and description, so that the right candidates apply for the job. They also do sometime special events like job fair, by visiting different universities to attract the qualified students to apply for HSBC. And they also recruit from interns because it is less costly and less time consuming than other methods, and it also becomes easy for both parties to make the proper decision.
The candidate can understand whether he/she is suitable for the organization for the job or not and also for the organization can understand the skills knowledge and abilities and whether he/ she is suitable or not. And they also take employee referrals. Communicating the message – HSBC doesn’t use any traditional type of message where the advertisement gives avague information about the job and organizational environment. Like “unlimited growth opportunities” etc. rather they prefer a mixture of realistic job preview which explains the level of hardworking is require with the targeted like person job matching message, where job description is given in details with the job specification so that the candidate can understand whether the individual can fulfill the requirement of the job or not.
Beside this two, some sorts of attractive message are also there, like the employment branding and itself the brand of HSBC reflects as a symbol of status and they also use employee branding, ie, the position of the candidate. Internal Recruitment The objective of internal recruitment process is to identify and attract applicants from among individuals already holding jobs with the organization. At HSBC, they also hire employees for a position within the organization ie, promote an individual based on his or her performance and often shift from one department to other keeping the position same, is also done; like a marketing manager to sales manager. These are done to increase the employee’s knowledge on related departments and to gather more experience.
If the company willingly wants to promote someone or want to shift from one department to another department then they take a small informal interview, but if any one willingly want to change their department then they have to face both the written and interview. Both close and open recruitment takes place at HSBC depending on different situation. But at a time both are not used for close recruitment, the employees are not aware that the company is searching candidate for a specific position and for open system, the candidates are aware about this. Closed Internal Recruitment System Open Internal Recruitment System 8. Motivational Factors 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 their employees’ 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 reduce cost as well as determine the employee performances that are being ready for the expected post. 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. 8. 1 Monetary Transactional Cash compensation (basic pay)- Salary is as stated in the appointed letter.
Upon satisfactory completion of the probation period, a basic monthly salary is set which grows with a increment of 10% every year. Monthly salary will be credited into staff account, which he/she opens upon joining the Bank. Salaries are paid on 25th of each month in arrears, plus other allowances less deductions such as Income Tax, contribution to Provident Fund etc. Cost of living adjustment- HSBC perform periodic adjustments, that is increase in everyone’s basic wages on the basis of changes in what other competitors are paying for the same work, change in overall cost of living such as due to inflation or changes in experience or skills, regardless of performance. Incentive
Cash Incentive- HSBC also gives incentives to the employees to make them more motivated for future work behavior for example; a group is asked to prepare a feasibility study on a certain project and if that group can complete their work on time with successful outcome then that group will be entitle to get a certain incentive. Another example of HSBC could be, meeting up target in a given period, if a sales person meets the target in a given period then a certain commission will be given to that sales person since we know incentives are pre-determine in nature and are contractual. Long term incentive At HSBC long term incentive are give to the employees who perform very good continuously for few 3-4 years. It is normally given to the mid and top level employees in terms of cash or maybe they give stock ownership or options to buy stocks at low specified prices. Benefits Employee Benefits is defined as an indirect and direct cash paid to an employee.
Some benefits are mandated by law (such as social security, unemployment compensation, and workers compensation), others vary from firm to firm or industry to industry (such as health insurance, life insurance, medical plan, paid vacation, pension. ) HSBC continually evaluates and reviews its employee benefits to ensure that benefits are competitive and in line with their employees needs. Employee benefits include: * Paid leave for marriage, maternity, sickness and vacation. * Staff banking privileges, including special interest rates for car loans, sundry loans and home loans. * Health plan and routine medical allowance including optical and dental treatment. * Short and long-term disability coverage, as well as life insurance. * An active Sports and Social Club. * Development opportunities and career support. Medical
Married employees will be entitled to a medical allowance for their respective grade for their spouse & children up to the age of 19. Single employees are entitled to half of the, my medical allowance for their respective rank. In both cases medical expenses incurred will only be reimbursed when supported by approved medical vouchers. Employee Group Insurance The bank provides all permanent & contract employees with insurance via the Workmen’s compensation policy. Employee Loans The employee Loan policy has been established at preferential rates to provide financial assistance to qualified & deserving employees of the bank. The bank’s policy shall be reviewed periodically.
Employees will be eligible for the banks subsidized housing loan scheme, car loan & sundry loan Schemes upon satisfactorily completing the required number of year’s service & achievement of performance standards. Separate policies are available for employee reference & guidance from HR/ADMIN department. Applications for loans should be sent to HRC through respective Head of departments. The CEO shall approve loan applications. Retirement benefits HSBC provides a great package of retirement benefits that brings an opportunity for an employee who would serve the company for over a longer period of time. Provident Fund & Gratuity The Staff Provident Fund Scheme is a voluntary contribution scheme. The employee will be entitled to join the scheme upon completion of the probation period.
The employee will be entitled to benefit from the scheme after completion of five years service & payment will be made upon resignation, termination, and retirement. The employee will also be entitled to a gratuity payment equal to one month’s basic salary for each year of service after five years upon his/ her resignation, retirement. 8. 2 Relational Return We know money is the most powerful tool to motivate employees. But beside these, other psychological matters also needed for the employees to be productive at their work which includes recognition and status, employment security, opportunity to learn through training and practical experiences of doing job to increase KSAO and challenging work. And HSBC tries to give this psychological support to make them loyal towards the organization.
And here the name HSBC play a very important role regarding status and image of the employee, since it is the second largest retail bank in the world and a big multinational chain bank too, so they feel proud to be a part of HSBC which also motivates them to stay with the organization and work productively. Pay for Performance Plan Pay for performance plans signal a movement away from entitlement. Pay will vary with some measure of individual, team or organizational performance. And the purpose of “Pay for performance” is to attain strategic goals, reinforce organizational norms, motivate performance at the individual, group and organizational level and recognize differential employee contribution and these pay for performance motivate employees to perform better continuously. Small group incentive These are similar to gain sharing plans and are largely within a small group task orientated.
As for an example, a group of employees is asked to lunch a particular new type of services for HSBC; the outcome of that services are distributed within that group and the bonuses are gained from that task and not from the entire department or division. Profit sharing plans Profit sharing plans are only given to top management who are directors of HSBC. From this profit sharing plans, they receive an annual bonus or shares of HSBC based on company’s overall revenue. They are either paid in cash or their earnings are deferred into a retirement plan Merit pay- HSBC gives this merit pay as increment to the base pay for outstanding performance. Most often, these merit pay is given on quarterly performance for certain type of work but usually are given on yearly basis.
Group incentive- HSBC preferred group incentive rather than individual when group or team is formed to do a specific task because if they reward one member from the group, others will be de-motivated and probably will be more competitive with each other, rather than solving a problem or doing a task through group discussion. FRDERIK HERZBERG is being related with HSBC motivation theories HSBC BANK is much concerned for their employee’s satisfaction and to motivate their employees they try their best. We can relate the FRDERIK HERZBERG two- factor theory, which is also known as motivation-hygiene theory with the HSBC bank motivation theory. FRDERIK HERZBERG motivation theory: We know the traditional view for the employees in the organizational is only the satisfaction and the dissatisfaction.
However, HERZBERG said that there are two factors and they are Intrinsic factor and the Extrinsic factor. Under the intrinsic factor job satisfaction are related and extrinsic factor are related with the job dissatisfaction. Herzberg motivation theory suggests that the opposite of satisfaction is not dissatisfaction. Removing dissatisfaction characteristics from a job dose not necessary make the job satisfying. Herzberg proposes that the opposite of satisfaction is “no satisfaction” and the opposite of dissatisfaction is “no dissatisfaction”. Intrinsic factors such as achievement, recognition, the work itself, responsibility, advancement and growth, seem to be related to job satisfaction.
Frederick Herzberg’s two-factor theory, aka intrinsic/extrinsic motivation, concludes that certain factors in the workplace result in job satisfaction, but if absent, lead to dissatisfaction. The factors that motivate people can change over their lifetime, but “respect for me as a person” is one of the top motivating factors at any stage of life. He distinguished between: Motivators; (e. g. challenging work, recognition, responsibility) which give positive satisfaction, and Hygiene factors (e. g. status, job security, salary and fringe benefits) that do not motivate if present, but, if absent, result in de-motivation. According to HSBC the extrinsic factors are company policy and administration, supervision, interpersonal relations and working conditions.
And for HSBC intrinsic factors are career developments, transfer, and promotion. If a employee get all extrinsic factor then he will be not dissatisfied from his job but if he doesn’t get them, then he will be dissatisfied since every person expect the extrinsic factor like salary, job security etc. but, if the person get intrinsic factors like sense of achievement, recognition etc. then he will be satisfied towards his job but if he doesn’t get them they he will be not satisfied EXTRINSIC OR HYGIENE FACTORS: Salary and Salary Payments- security/salary Salary is as stated in the appointed letter. Upon satisfactory completion of the probation period, a basic monthly salary increment of 10% will be awarded.
Monthly salary will be credited into staff account, which he/she opens upon joining the Bank. Salaries are paid on 25th of each month in arrears, plus other allowances less deductions such as Income Tax, contribution to Provident Fund etc. Fringe benefits: Beside salary, employees also expect to get benefits from the organization and these benefits make them motivate to be a productive employee. * Paid leave for marriage, maternity, sickness and vacation. * Staff banking privileges, including special interest rates for car loans, sundry loans and home loans. * Health plan and routine medical allowance including optical and dental treatment. * Short and long-term disability coverage, as well as life insurance. Development opportunities and career support. After retirement security The bank provides pensions and retirement benefits after each employee’s retirement. Salary Administration Policy- In order to support the Bank’s wish to see employees rewarded based upon the work they do, it is necessary to establish the parameters of each job. Working conditions The internal environment of HSBC bank is very pleasant and friendly that actually help employees to feel comfortable and adjust with the environment quickly. Interpersonal0Relation: Communication and interpersonal relationship are very important for every human being and it helps people to run a normal life .
Interaction between employees and sharing of personal matters with each other help each other to overcome the stress and do work productively. So fellow feelings or helping others co-workers are important motivational factor in an organization. The bank arranges parties, picnics and other social functions for employees recreation. They also get the opportunity to get involve with other memebers of other departments. The employees also get the opportunity to sit in group discussions for improving interpersonal relationship. INTRINSIC OR MOTIVATOR FACTORS: Challenging work: employees are given a opportunity to complete a critical task within a specified period of time, which encourages them to work perfectly, and would receive an incentive afterwards as a merit pay. he challenging work can be individual or team based. Recognition and status: HSBC is a renowned multinational financial services organization and working for a MNC in Bangladesh pays a pride and respect and also dignity in people’s mind. It shows high living standard and reflects a self confident on one self. Responsibility: The level of responsibility at HSBC is extremely high in nature and demand high level of attachment with the organization. Personal growth and development: The Bank aims to offer its employees and opportunity for job rotation & advancement, and will be provided with necessary training, to develop/broaden their experience base.
They always give chance for employees to study abroad to gather more knowledge so that it would be beneficial for the organization. 8. 3 Training and Development HSBC believes that their primary competitive advantage comes from their employees. It believes that the ability of their employees to provide a superior customer experience to their customers that sets them apart from other financial services companies. In the ever changing financial services industry, all of them are continuously upgrading their skills and knowledge in order to maintain this competitive advantage. Their goal is to attract, retain and motivate the very best, and to do that they support training, development, and business education through the following: Internal Training Programs
Seminars, workshops and locally tailor made training on a variety of topics are offered directly by HSBC Training and Development Department at their training centre located at Motijheel. External Courses Job related courses, seminars, workshops and conferences developed and presented at HSBC Offices in Asia and also at Group Training and Management Development Centre at Bricketwood, UK. Distance Learning Web-based and multimedia self-study programs available through our Intranet and multimedia Learning Centers located in HSBC offices. Resident Management Trainee Programme (RMT Programme) The Resident Management Trainee program (RMT) aims to select a group of high potential executive trainees and provide them training and development opportunities.
The RMT program gives potential executives effective and systematic training to acquire an excellent understanding of the commercial operations and business functions. The RMT program 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 9. CSR Activities HSBC has shown leadership in its response and commitment to tackling climate change. With a long-term horizon and a global outlook, HSBC continues to analyse carefully policy options, risks and opportunities linked to climate change, and is pushing forward to develop products and policies in a challenging economic environment.
The HSBC Climate Change Centre of Excellence’s substantive research has made an important contribution to policy analysis and, by engaging in the public debate on climate change in developed and developing countries; HSBC is playing an important role in identifying key drivers for low-carbon economies. HSBC aims to run a sustainable business for the long term. This is about achieving sustainable profits for shareholders, building long-lasting relationships with customers, valuing their highly committed employees, respecting environmental limits and investing in communities. The current financial crisis has highlighted how important it is to look ahead to the challenges of the future. HSBC believe that by doing this, they can provide shared value for their shareholders and the wider economy, the environment and society. As a bank, HSBC manage risk and identify business opportunities every day.
They seek to embed social and environmental issues into what we do. Climate change and globalisation are critical trends shaping the way They do business in the future. These trends will affect the world’s poorest people most significantly. So, HSBC aims to mitigate the risks and maximise the opportunities associated with these shifts 9. 1 Environment Carbon Footprint Management HSBC in Bangladesh initiated a carbon footprint management study at the Bank’s Dhanmondi branch. The footprint study is being managed by Waste Concern Consultants Ltd. Carbon footprint which includes the emissions from a person’s home, car, air travel and everything we use which affects the climate.
Since 2002 the Bank has developed and implemented a number of initiatives to reduce its consumption of energy, water and waste. It is also committed to going carbon neutral in order to reduce greenhouse gas emissions to tackle climate change. Carbon Disclosure Project HSBC has been rated number one in the financial sector and third overall in the 2009 Carbon Disclosure Project (CDP). The CDP promotes awareness of business implications of climate change by encouraging the world’s leading companies to disclose information about their greenhouse gas emissions. 1. Taking effective action to manage risks and capitalise on new opportunities arising from climate change; 2. Implementing carbon reduction activities that deliver demonstrable results; and 3.
Forward planning around expected regulation World Environment Day 2009 HSBC supported the United Nations’ World Environment Day (WED) on 5 June 2009 by launching a global “Be Part of the Solution” campaign. HSBC employees around the globe were encouraged to do their part by acting on climate change. Over 70 staff of HSBC Bangladesh, lead by HSBC Chief Executive Officer, Mr Sanjay Prakash, went to the nearby park “Pantha Kunga”. There, the staff helped clean up the park of debris, waste and other materials and deposited the items to the nearby waste facility. In addition, staff also planted about 600 fruit, flower and herbal trees in the park to provide a greener look and future.
To mark World Environment Day, HSBC Bangladesh in June 08 carried out a large scale tree planting (more than 1,000 trees) program at the Osmani Udayan, which is one of the largest parks in Dhaka City. Through this tree planting program, HSBC aims to increase its green footprint in the city it operates in. Department heads and HSBC branches received a potted Bashak Tree which will be taken care of throughout the year. It was also arranged for a green branded car to roam around the city on 05 June 2008. Select branches and customer service centres were decorated on a green theme and customer-facing staff wore green t-shirts to mark this day. HSBC also launched “Go Green” campaign. Under this campaign, customers would get a special discount on the CNG conversion loan and a Certificate.
HSBC would also plant a tree on behalf of the customer for every CNG conversion loan taken. In 2005, as part of the activities on “World Environment Day”, the Bank’s staff distributed more than 1,200 of medicinal, fruit-bearing and regular trees amongst customers and staff through their branches in Dhaka and Chittagong. On the same occasion, approximately 55 staff members launched a cleaning drive at Patenga sea-beach in Chtttagong. Staffs also helped plant 2,000 mango trees and 1,000 lychee trees in 2 rural villages. DAK sent 15 staff to countries such as Vietnam, Kenya, Australia etc on the Earth watch program and each staff members were tasked with initiating a project on their return. Earth Hour
HSBC Bangladesh along with 20 countries/territories across Asia-Pacific joined millions of businesses and homes worldwide in switching off building lights for Earth Hour. HSBC Climate Champion HSBC Climate Partnership brings together HSBC, The Climate Group, Earth watch Institute, Smithsonian Tropical Research Institute and WWF. Key objectives of the Partnership is to mobilize HSBC employees to fight climate change. To achieve this, HSBC works with Earth watch Institute, a top international environmental charity, to develop employee training programmers around the world. HSBC in Bangladesh has sent a total of 28 staff since 2003 in these international environmental programs. HSBC Environment Champions HSBC Organized “HSBC Environment Champions”. It was held at a local city hotel.
HSBC Environment Champions was organised to raise awareness about the environment among the students of Bangladesh. HSBC took the 10 winning students who took part in the final round of the “HSBC Environment Champions” on an environmental field trip to Lauachara National Forest Preserve in Srimongal, Sylhet. The students were shown around parts of the national forest reserve; they learned about the ecosystem there. In addition, they visited the local indigenous villages and saw firsthand the living conditions and livelihoods of the local people. Shapla Doel Sangsad In 2007, a community conservation project was implemented by Shapla Doel Sangsad and 13 HSBC Earthwatch volunteers by setting up 175 hygienic sanitary toilets in the same area.
On the same day Earthwatch fellows, along with 600 students, villagers and volunteers participated in a rally for creating awareness about the environment. Later in the day, HSBC participated in the prize giving ceremony where it awarded 15 students from various schools who won in the essay writing competition on different environmental issues. HSBC staff also helped setup a flower garden in front of the local High school. 9. 2 Education School of Hope The School of Hope was established in January 1990, as a private initiative by Mr. Wim Bakker, a Dutchman who, at that time, was living in Bangladesh. The school provides almost free primary education, (all parents pay a token 5 Taka ($ 0. 7) per month) for children living in a slum area of Dhaka. HSBC staff joined the children of School of Hope for a daylong trip to the Dhaka Zoo. For many of the children, this was their first visit to the zoo. The exciting zoo trip was followed by lunch for the children at School of Hope. As an annual programme, about 40 staff from HSBC teamed up to Paint the School of Hope in December 2009. The children and teachers from School of Hope were thrilled to see the new look of their school and appreciated HSBC’s effort in painting their beloved school anew. HSBC held both a toy and a book drive where the staffs donated toys & a great number of books for children of School of Hope. 50 new and used toys where collected for the toy drive programme and distributed among the children. The books ranged from children story books to text books. The books were collected for the library of School of Hope. In 2008, HSBC took the children of School of Hope to the first international children’s film festival, a first of its kind in Bangladesh. Also, HSBC arranged an outing for the children of School of Hope at Wonderland Park in Gulshan. 100 children from the School of Hope were treated to rides, lunch and fun-filled activities on the day. Education Fund for SEID Trust HSBC provided an education fund for the children of SEID trust. The fund was provided for the salary of one physical therapist for 2009.
SEID trust looks after the special needs children of Bangladesh. Talent Hunt Programme for Special Children Centres for Disables Concern arranged a talent hunt program for the children with special needs which included a grand rally, drawing competition, cultural program and other events. This was sponsored by HSBC and attended by over 200 students from all over Chittagong. Liver foundation of Bangladesh HSBC provided free Hepatitis B vaccinations to the orphan children of “Sarkari Shishu Poribar” through the foundation. HSBC staff also attended a seminar organized by the foundation where its work was recognized by the foundation. Tauri Foundation
Tauri Foundation’s School for Gifted Children provides education and therapy to children with special needs. HSBC staff visited the school where they interacted with the students and handed over the yearly salary for the Art teachers of the school. Tauri Foundation also arranged a two day painting exhibition of the challenged students with a view to encourage them and create social awareness about the ability of these children. HSBC sponsored this painting exhibition to highlight the skills of these autistic children. HSBC also provided funds to Tauri Foundation to cover the cost of a part time Art teacher for 33 students with disabilities in Lalmatia.
HSBC provided free Hepatitis B vaccinations to the orphan children of “Sarkari Shishu Poribar” through the foundation. HSBC staff also attended a seminar organized by the foundation where its work was recognized by the foundation. Workshops for the Young Entrepreneurs HSBC in Bangladesh held a workshop for the 34 winning teams of the first round of the regional Young Entrepreneur Awards (YEA) 2008-2009 at a local hotel. The workshop was formally opened by the Chief Executive Officer of HSBC Bangladesh Mr Sanjay Prakash. The Young Entrepreneurs Awards 2008 (YEA), a business plan writing competition, was launched by HSBC at a ceremony on 08 January 2008.
The competition aims to provide students with access to the regional business plan writing competition so that Bangladesh continues to produce talented young entrepreneurs that could compete and win on the global stage. YEA encourages innovation and creativity amongst students and allows them to test their potential. In order to help the students learn about business disciplines, YEA also includes a series of training programs and this workshop was part of that initiative. Following the announcement of 30 first round winning teams of YEA, HSBC arranged a workshop on presentation skills. During the workshop, participants were trained on delivering effective business presentation. Seven teams were selected of the final round of HSBC Young Entrepreneur awards 2008-09 in Bangladesh Grand Finale. Three teams were selected as the Gold, Silver and
Bronze award winners. The Gold team from Bangladesh, Vila La Vida, won the Jade Award in the HSBC Young Entrepreneur Awards 2008-09 Regional Grand Finale in Hong Kong. Their business case was about solving the imminent water crisis of megacity Dhaka by harvesting rainwater, and providing clean, drinkable water for everyday use in domestic and commercial structures. HSBC Prothom Alo Language Competition Celebrates 5 Years HSBC sponsored a nationwide language competition to promote the use of the national language amongst students in 2008. The program, which first started in 2005, had more than 5500 participating students from 7 cities this year.
HSBC Prothom Alo language competition celebrated its 5th year in 2009. This year, the event was held in 8 districts with over 5500 students from 150 different schools of the region participating in the day-long programs. Sixty winners from the eight regional competitions took part in the national finals. Other Education Promotion Activities * HSBC provided funds to Play Park at Bhatiary for setting up a library for children’s education. * HSBC provided funds to Play Park at Bhatiary for setting up a library for children’s education. * HSBC provided funds to Disabled Welfare Society for the purchase of Braille writing instruments for the society. HSBC provided funds to facilitate studies and to ensure bright future for the meritorious students of Rajarbag Police Lines Higher Secondary School. * HSBC provided funds to SEID Trust for the salary for 2008, of one physical therapist to the unprivileged children of SEID Trust with intellectual and multiple disabilities * HSBC provided funds to Green Disabled Foundation (G. D. F) for the operating expenditure of the school along with a recommendation that the school bring some new initiatives in future. * HSBC provided funds to the Book Group for the printing of 2500 copies of books, with 2000 copies provided to the organisation and 500 copies for HSBC which we would distribute among the children of School of Hope and others. HSBC Group, through Future First provided funds to a project of Aparajeyo Bangladesh, titled “Reaching the unreached: Mitigate hazards of child labour in factories using non-formal education”. * HSBC provided financial assistance of BDT100000 to the Scholars Special School for Disabled Children. The fund contributes towards the salaries of the teachers. * HSBC provided scholarships for 50 visually impaired students. This is a continuation of HSBC’s support of BERDO activities from previous years. * HSBC helped Book Group to publish 1000 copies of the book titled “Fish in the Tree”. The book is a collection of folk tales from Bangladesh. It was distributed to different needy schools including School of Hope. HSBC sponsored a two-day Inter-School Debate Competition. The event was held at the St. Gregory’s High School in Dhaka * The Bank gave scholarships to 50 students at the UCEP technical school. The school strives to provide marketable skills to hardcore poor urban working children and adolescents through general education followed by vocational/trade skill training and on the job apprenticeship. * HSBC provided funds for the operating expenditure of Green Disabled Foundation (GDF) school in Sylhet. * DAK staff visited Scholars Special School and inaugurated the school’s Bengali New Year’s program. * DAK staff visited Scholars Special School and inaugurated the school’s Bengali New Year’s program. HSBC helped support 50 children of Sneho Education & Health Development Foundation, a school for slum children of Savar by financing their nutritional requirements. * HSBC provided funds to SEID Trust for accommodating a teacher for 125 underprivileged children with intellectual and multiple disabilities. * HSBC donated books to a public library in Kaligang, Lalmonirhut and for children, students and the local people of the area. The library is the only source of educational support for that surrounding area. * HSBC provided financial support to Gulshan Literacy Program, a school that provides basic education to 350 destitute children. * DAK provided annual scholarships to 30 underprivileged students of a Chittagong school run by the “Underprivileged Children’s Education Program”. DAK donated funds to set up HSBC Green Disabled Foundation (GDF) School for visually impaired children in Sylhet. * DAK sponsored 32 visually handicapped students of BERDO for their studies for 2007. 9. 3 Culture and Others Supporting the Visually Impaired HSBC in Bangladesh joined hands with Blind Education and Rehabilitation Development Organization (BERDO) to provide scholarships to a number of visually impaired students. HSBC Group Provides GBP 35,000 To ACTIONAID Bangladesh The HSBC Group has provided funding of GBP 35,000 (approximately BDT34 lacs) to Actionaid Bangladesh for one of its local programs. This amount was saved by not printing of greeting cards worldwide.
HSBC’s funding in Bangladesh would be used to provide shelter for girls without home at night and drop in support during the day for girls who find their livings on the street but return to a family or other home at night. HSBC-Kali O Kolom Tarun Kobi O Lekhak Purashkar HSBC and acclaimed monthly Bengali literary magazine Kali O Kolom jointly took an initiative to honor and encourage young writers and poets of the country with “HSBC-Kali O Kolom Tarun Kobi O Lekhak Purashkar” in 2008. Due to the tremendous response from all over the country the award has been launched for the second time in October 2009 with a total award money of BDT 3 lakh taka. Painting Exhibition by Shahabuddin HSBC in Bangladesh, sponsored a solo painting exhibition by artist Shahabuddin Ahmed, one of the prominent artists of Bangladesh, at Bengal Gallery of Fine Arts, Dhaka.
At the exhibition, Shahabuddin shared some of his solo works that bear testimony to a robust life-affirming worldview and his relentless, incessant quest for new artistic forms. Dhaka’s 400 years HSBC initiated several programmes to commemorate Dhaka’s 400 years of existence as a capital city. The programmes included the following: Drama Show: HSBC sponsored a special drama show titled “Bahanno Bazaar Tepanno Goli”. Photo Exhibition: The photo exhibition was held at Drik Gallery and displayed works of three famous photographers of Bangladesh- Babu Ahmed, Munem Wasef and Taimur. 400 years of Dhaka Map: HSBC launched a Dhaka city map containing major landmarks and historical places of Dhaka City.
Seminar: A seminar was arranged in recognition to Dhaka’s 400 years celebration where eminent historians of Bangladesh shared their views on the celebration. HSBC-Kali O Kolom Tarun Kobi O Lekhak Purashkar HSBC and monthly literature magazine ‘Kali O Kolom’ inaugurated an award programme for the talented young writers and poets of Bangladesh. The programme titled ‘HSBC Kali O Kolom Young Poet and Writers Award’ offers a cash prize of BDT100,000 each for the winning submissions of original literary works. Shoto Borsher Bangla Gaan A prestigious event to celebrate the rich heritage of Bangla songs “Shoto Borsher Bangla Gaan” was held on the 29th of February 2008, at China Bangladesh Friendship Convention Centre. This is the third and last installment of this program.
Famous artists from Bangladesh and India performed in this event. Bengali New Year 1415 HSBC staff celebrated Pohela Boishakh on the first working day of Bengali New Year 1415. Staffs wore traditional Bengali Dress and were also entertained with traditional Bengali food for lunch. HSBC staff also donated BDT 20K to provide lunch to over 200 street children through the NGO, Aparajeo Bangla on 23 April 2008. The children were accompanied by 13 HSBC staff from various departments. Bhasha Protijog The HSBC Prothom Alo Basha Protijog final round was held in Viquaroonnessa Noon High School & College on 11 April 2008. The 400 regional winners, along with HSBC staff joined this event.
Eminent celebrities including Dr Anisuzzaman, Abdullah Abu Sayeed, Dr Muhammad Zafar Iqbal, Anisul Hoque, Close Up1 (A local Talent Hunt Program) Winner Salma, Rezwana Choudhury Bonna and others were present throughout the day to join in the festivities. Centre for Disables Concern (CDC) HSBC and Centre for Disables Concern (CDC) organised sports and cultural olympiad for the disabled and disadvantaged in Chittagong. Shapla Doel Sangsad HSBC provided funds to Shapla Doel Sangsad for organising an Eye Camp in the Chadpur area, to treat 50 visually impaired patients as well as funds for the women entrepreneur project. Sir Salimullah Muslim Orphanage
HSBC staff visited Sir Salimullah Muslim Orphanage where they shared a lunch with the children. HSBC had organised lunch for over 360 orphan children of the orphanage on that day with the funds saved from non-printing of Bengali New Year’s cards. Aparajeyo Bangladesh Staff from across various departments of HSBC Bangladesh had lunch with over 200 street children at a shelter of Aparajeyo Bangladesh. The funds that were used for providing the lunch came from donations given by staff during the Bengali New Year when earthen banks had been placed at our branches in non-customer facing areas. SIDR Initiative HSBC is building 120 houses in Pirojpur and Barguna which will have been completed by June.
Senior officials from DAK visited the sites to check the progress of the construction work of the houses. Following the handover of 120 houses in Pirojpur and 10 Houses in Barguna in the Second Phase, HSBC Distributed rickshaws, sewing machines, live stocks, tree plants, seeds, fishing nets and boats to 120 families who received the houses. Liver Foundation of Bangladesh HSBC provided funds to Liver Foundation of Bangladesh for the third phase of free Hepatitis B vaccination to the poor. This is a continuation from 2006. Sneho Education and Health Development Foundation HSBC provided funds of BDT100000 to Sneho Education and Health Development Foundation for its nutrition project in Savar serving 100 children. Computer Donation
HSBC donated computers to the students of Gulshan Literacy Programme and Disabled Welfare Society. Action on Disability & Development HSBC gave away wheelchairs to 23 physically challenged people in Dhaka on International Handicap day. Sami Hafiz from MKT& GPA, in association with Action on Disability & Development (ADD) delivered the wheelchairs at the event. Flood Relief HSBC staff provided flood relief to the affected people of Kanaighat, Sylhet. HSBC staff delivered 550 packets of relief that includes rice, daal, edible oil, salt, onion, potato, oral saline and water purifying tablets in the affected area. Iftar Party at Sir Salimullah Orphanage
HSBC arranged an Iftar party at Sir Salimullah Orphanage for 500 orphan children and arranged an Iftar party for 300 street kids along with Aparajeyo Bangladesh. Liver Foundation of Bangladesh HSBC donated funds to Liver Foundation of Bangladesh to create awareness and to vaccinate hundreds of destitute children against Hepatitis B and C. Samannita Jonokallyan Kendra HSBC provided funds to SamannitaJonokallyan Kendra to install 17 arsenic free Tube wells for safe drinking water in different unions of Monirampur Upazila, and to install Slab Latrines for safe sanitation practice for the inhabitants of village Sonapur. Southern Socio-economic Development Program (SSDP)
HSBC provided funds to Southern Socio-economic development program (SSDP) to help establish a phone/fax/photostat shop. This will help 4 disabled people of SSDP to become self-sufficient. HSBC provided sewing machines and computers for training purposes to needy women of Southern Socio Economic Development Program. DAK provided funds for the salary of a physiotherapist and a trainer of Society for Intellectually Disabled Trust. DAK staff donated 20 bags of blood to the blood bank in Chittagong. Helping the Disabled/needy We provided assistance and/or financial support to Assistance for Blind Children, Bangladesh Protibondhi Foundation, Society for the Welfare of Autistic Children and Special Education of the Intellectually Disabled to name a few.
Our staff came up with the idea of installing deep tube wells for drinking Water Supply to the villagers of Bharatpur in Monirampur, Jessore. Promotion of Bengali culture HSBC issued Bengali letter adverts during special occasions in the Bengali calendar. Also, in association with Prothom Alo, we held a nationwide language competition for students of different schools and colleges to encourage the students to learn more about their mother tongue. We sponsored the prize-winning movie “Shasti”, a theatre festival, an art exhibition and many others in 2005. 10. Conclusion HSBC is very much expert both in employee selection, recruitment, motivation process and CSR activities.
If we observe their employee selection process from the beginning of scanning stage to the end of Physical examination and background investigation stage, we can find that everything is very much logical and scientific. In one side they are inspecting the educational qualification of an employee and on the other side they are checking the interpersonal skill and mental strength of an applicant to do the unoccupied job. There recruitment process is also interesting. It is consisting both external and internal face. In the case of external, they are trying to verify a person in different ways so that they can find the best one and in the case of external they are using the system of promotion. Those who have shown their better performance in the organization they are being given the opportunity of promotion.
They are also motivating their employees by providing them different kinds of tune-up like increasing their salaries, promotion facilities, retirement benefits, bonus, employee loan etc. The name and fame of HSBC as a successful ba
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