Staff Motivation & Retention
Presentated By:
Aamir Altaf
G.R.NO:MEN-2201254
Rehan Khan
G.R.NO:MEN-2201084
Farhan Ali Khan
G.R.NO:MEN-2201186
History
Standard Chartered Bank History of over 150 years in banking. Extensive Global Network of over 1700 branches in over 70 countries. Almost 75,000 employees, representing over 115 nationalities worldwide. Standard Chartered Bank Pakistan Limited Largest and fastest growing International bank in Pakistan with 162 branches in 41
cities. Employs a workforce of over 7,000 people (including 3,282 permanent employees)
across Pakistan.
Introduction of PSPL
•Price Solution Pakistan (Pvt.) Ltd. was incorporated on Monday, March 20, 2006
•Price Solution is a wholly owned subsidiary of Stan Chart Nominees Limited •Price Solution has a principal to principal relationship with SCB •Price Solution has an agreement with SCB for managing its Sales Task Force.
Standard Chartered PLC
Vision
To have the best-managed sales organization in the Banking Industry
Our Values
•Courageous
•Responsive
•International
•Creative
•Trustworthy
Structure of HR Department
Employee Motivation at Standard Chartered
If Employee has done well Deserve for some incentives and
benefits
If Employee Performance go down
HR Roles comes why he or she has not perform well
Performance Grade
E ExcellentS SatisfactoryA AverageU Unsatisfactory/Underperformer
Treatment of different grades
E Provide more incentive than person having grade S
S Provide incentive (less than Grade E)
A Provide him more training
U Fine out reason why it is so …..?
Motivational Factor
•Promotion Criteria
•Performance management process.
•Employee engagement strategy
Promotion Criteria
DSR GL TL RSM
Normal Track
Fast Track
1.5 - 2.0 yrs 1.5 - 2.0 yrs 2.0 - 3.0 yrs
1 - 1.5 yrs 1 - 1.5 yrs 1.5 - 2.0 yrs
NSM
3.0 – 4.0 yrs
2.5 – 3.0 yrs
DSR GL TL RSM
Normal Track
Fast Track
1.5 - 2.0 yrs 1.5 - 2.0 yrs 2.0 - 3.0 yrs
1 - 1.5 yrs 1 - 1.5 yrs 1.5 - 2.0 yrs
NSM
3.0 – 4.0 yrs
2.5 – 3.0 yrs
Performance Management Process
•All reward on the basis of performance
•Depends on the nature of role and product category being sourced by sales staff
Annual appraisal cycle will cover all the employees who have been in the organization on or before September 30.
Annual appraisal cycle will cover all the employees who have been in the organization on or before September 30.
The appraisal formats and timelines are sent to all the employees by November 15 by HR
The appraisal formats and timelines are sent to all the employees by November 15 by HR
The employee to do a self-appraisal on their Job Objectives and values by December 15.
The employee to do a self-appraisal on their Job Objectives and values by December 15.
The supervising manager is expected to complete the appraisal form and close the discussions with the employee by January 15.
The supervising manager is expected to complete the appraisal form and close the discussions with the employee by January 15.
The final ratings are then to be discussed by the HR managers and the supervising managers. This entire exercise is expected to be closed by February 28.
The final ratings are then to be discussed by the HR managers and the supervising managers. This entire exercise is expected to be closed by February 28.
Final increment letters and ratings will be handed over by the Area HR Managers to the supervising managers by April 15.
Final increment letters and ratings will be handed over by the Area HR Managers to the supervising managers by April 15.
Promotion recommendations are made during the appraisal cycle. Half-year promotion recommendations can be granted but they will be treated as an exception and will require the approval of the BoD, CEO and HoHR.
Promotion recommendations are made during the appraisal cycle. Half-year promotion recommendations can be granted but they will be treated as an exception and will require the approval of the BoD, CEO and HoHR.
All completed forms are to be sent by the supervising manager to the HR managers by January 30
All completed forms are to be sent by the supervising manager to the HR managers by January 30
Objectives / Targets for the next year are also discussed and agreed upon by the supervisor with the employee
Objectives / Targets for the next year are also discussed and agreed upon by the supervisor with the employee
Engagement Activities
•Dunk of the Day
•Good Morning
•Morning Huddle
•Hello
•Movie Mania
•Quiz Wiz
•One on one
•The Wall of Fame
•Sultans of Sales
•Sales Hangama
REWARD POLICY
•Our reward programs should support and drive our business strategy and reinforce our values.
•Recognize world-class performance and behavior in support of our values.
•Attract & retain the best.
Objectives - Pay for performance
The objective of the compensation policy is to define:
•Salary structure •Reward high performers•Be competitive and retain talent
Salary Structure
The salary structure of PSPL can be broadly categorized into:
•Fixed Pay
•Variable Pay
Components
•Basic •Utility Allowance•House Rent Allowance•Consolidated Allowances - This is a basket of allowances/reimbursements, which are paid to all employees as per their grade/level. For Sales staff this amount is fixed. For Level 1 and above it can be claimed as reimbursement to avail tax benefits•Retrials – PF ( 10 % of Basic – after the probation period)and Gratuity after 5 years of services
Employee Retention Strategy
•Salaries / retainers – based on the market environment.•Variable compensation – based on performance management process base on EASU •Benefits – according to regulation and market environment•Recognition programs – informal or formal rewards, career advancements etc.•Training – tailored programs to provide necessary brand awareness and product knowledge.
THANK YOU