Standard Chartered Bank and human resource management
Standard Chartered Bank is a British bank headquartered in London with operations in more than seventy countries. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and employs 73,000 people.
Despite its British base, it has few customers in the United Kingdom and 90% of its profits come from Asia, Africa, and the Middle East. Because the bank's history is entwined with the development of the British Empire its operations lie predominantly in former British colonies, though over the past two decades it has expanded into countries that have historically had little British influence. It aims to provide a safe regulatory bridge between these developing economies.
It now focuses on consumer, corporate, and institutional banking, and on the provision of treasury services—areas in which the Group had particular strength and expertise.
Standard Chartered is listed on the London Stock Exchange and the Hong Kong Stock Exchange and is a constituent of the FTSE 100 Index. Its largest shareholder is Temasek Holdings.
The Standard Chartered Group was formed in 1969 through a merger of two banks: The Standard Bank of British South Africa founded in 1863 and the Chartered Bank of India, Australia and China, founded in 1853.Both companies were keen to capitalize on the huge expansion of trade and to earn the handsome profits to be made from financing the movement of goods from Europe to the East and to Africa.
Tags: Staffing at Standard Charted bank, H&R at Standard Chartered Bank, Employment at Standard Chartered bank, Organizational structure of Standard Charted bank
[...] Standard Chartered recognizes that it is increasingly important to have a diverse, talented and engaged workforce to drive the many growth opportunities available in the markets. The company has made good progress in three key areas as part of its approach to managing its people: Diversity and Inclusion Employee Engagement and Health and Safety. Diversity and Inclusion The bank took several steps as part of its ongoing commitment to create an inclusive environment for its people, customers and communities. The bank has in place executive succession plans for over 200 critical leadership roles globally and its aim is to build a leadership pipeline that reflects the diversity of the markets it operates in. [...]
[...] Strategy Formulation & implementation Process “With rapid growth across our franchise and changing customer and employee demographics, the Bank believes that our innovative and sustainable approach to managing our people is a source of competitive advantage.” Tracy Clarke, Group Head of Human Resources Human Resources delivers Standard Chartered's biggest competitive advantage the people. As a strengths-based organization, the company adopts a unique approach, focusing entirely on its employees' individual talents and supporting them with opportunities to put these talents into practice. [...]
[...] The management of Standard Chartered views the system of MBO very beneficial for its operation mainly because Standard Chartered gives utmost importance to compensation packages and this is the most crucial factor for retaining key employees. The amount of bonus depends on the amount of profit Standard Chartered World makes. Stock Ownerships are given, as Performance Bonuses to employees giving high performance and whom the bank wants to retain. As the bank follows Management by Objectives specific objectives are set at the beginning of the year. [...]