Human Resource Management and the Banking Sector Essay

tHuman resource management and the banking sector By Imran Samad Human resource management (HRM) has long been overlooked in the corporate sector in the country where a small section, comprising mostly the multi-national companies was practising the same. With the growing realization of proper HRM in the corporate sector, it has grown into an important activity. Now the head of HRM is an important member of the senior teams of any thriving business. Although the idea is new for many local businesses where entrepreneurs are at the beginning of the learning curve yet in reality the theme is getting support from the organized entrepreneurs. The banking sector has grown from a few institutions primarily involved in deposit acceptance and trade finance into a complex multi player markets where large number of commercial banks, financial institutions and specialized banks are operating with various products and activities. The banking has become a complex activity within the financial market linked directly and indirectly with an over-all national growth and its impact as an integral part of regional segment of a global banking environment. Almost every bank and financial institution is involved in various functions in a day’s job and thus requires a highly effective team and appropriate manpower to run the show. Corporate goals are translated into viable realities and profits only with human element who play their due role in achieving the desired results. Thus even the high automation would require proper man behind the machine to make things happen. This idea has been realized by top managements in progressive banks. Like many other organized sectors, banking requires a multi layer manpower for its various requirements of professionals and support staff. The range may require reasonably educated security guards on the one end and a highly educated and trained professional as head of corporate finance at the other. With liberalization of activities within the banking sector, for example, more emphasis on consumer and house finance and personal loans, etc. banking has turned itself into a more market-based business where banks have expanded their reach more to customers’ door steps in a big way making banking more practical. This has further highlighted the need for proper deployment of man-power to run banks efficiently. For many years, HRM banks like other institutions have been handling this sensitive activity through respective personnel departments. This means human resources were managed like other physical assets e. g. pieces of furniture, calculators, equipment and appliances. Personnel departments were primarily engaged in approval of leaves, handling of staff loans, issuance of show cause, conducting disciplinary enquiries and termination from service. Recruitment was a routine function and was done in a mechanical way to hire people with specific educational background irrespective of their real value to the institution. Success stories of large banking companies have been evident of the fact that HRM is quite different from management of physical assets. Human brain has its own peculiar chemistry. Its strong sensory and decision-making capacity has to be greatly emphasized by the employers. The work force constituting all levels of employees are constantly thinking in many dimensions. On the one hand it is the assigned duty and task they are to perform and for which they are paid by their employer, on the other they think of their long run goals and objectives. By no means, their brains can be controlled to think beyond the current situation of employment. Managing this educated, skillful and trustworthy work force is not an easy job. A few of the current challenges faced by the banking industry in terms of human resource management may be the following: Effective work force:Â  A time-consuming and hectic job is to hunt the right talent. Its just sitting by the river and waiting for the right fish to catch. Higher the professional value of the vacancy, tougher is the search. Identifying the right stuff followed by negotiation is the element which makes the job tough for the employer. Banks are keenly interested to fill up two types of breads of professionals. Ones who are outstanding professionals with high job hopping attitude – these are those who come in – work for some time and then leave for better prospects. Others are those who are keenly picked-up, trained and are some how retained to be developed as future management within the bank. Management trainees are a growing popular phenomenon where freshly qualified business graduates are engaged by banks and a certain percentage of these well equipped professionals stay back within the organization to grow into the footsteps of senior managers. Banking jobs being apparently lucrative for many, attract a large number of candidates against advertised vacancies in media creating a large data base management problem. This has been facilitated by specialised hiring agencies who may take up the job of hiring in case of large number of vacancies. Right people:Â  The most difficult agenda of HRM across the banking sector is to retain the right people. Sudden growth of retail banking and other services has put pressure on HR mangers in banks to engage more professionals within shorter span of time thereby attracting manpower in other banks on attractive packages has made the job market very competing. A bank in a normal course invests time and money to hire and train the appropriate work force for its own operations. This ready-made force is often identified and subsequently picked-up on better terms by others. Compensation:Â  How much to pay to the right employee and how much to the outstanding performer. Banks have traditionally followed pay scales with predetermined increments, salary slabs, bonuses and time-based fringe benefits like car and house advance, gratuity, pension, etc. The situation is not the same anymore. An increment of Rs500-800 per annum is no more a source of attraction for a professional anymore. A basic pay with traditional formulas of linkage with medical and other facilities has no soothing effect today. A promise of future growth, learning culture and corporate loyalty is out of dictionary and does not mean anything to this energetic and competent performer today. A waiting period of 3-4 years in each cadre haunts the incumbents who strongly believe in immediate compensation. There are examples to this. Thanks to the car financing modalities car is no more a fantasy item any more. A freshly hired professional requires a brand new car or car loan on resuming office quite contrary to his previous breed of bankers who would wait for the job seniority to qualify for a car loan. Job satisfaction: Everybody in the bank wants to work in the preferential department, preferential location, city of his own choice and boss of his liking. An administrative deviation from any of these results in lowered job satisfaction. Although hiring is normally based on regional requirement matching the area of activity with that of employee’s nativity yet other elements like appointment in the department of choice and preference makes the job of HR manager quite challenging. What the HR manger cannot afford is the dissatisfied employee who not only disrupts the smooth working himself but also spreads the negativity to others by his de-motivated attitude. Morale boosting:Â  What has long been overlooked is the morale boosting of the employees by the organizations. Human beings even if satisfied of material wellbeing need to be appraised and encouraged constantly. Smart banks have realized this need and have taken steps to keep their work force motivated through proper encouragement like man of the month awards, repeat get-togethers, conferences, sports events, dinners, company sponsored travel, reunions, etc. This is the way employees create a feeling of belongingness.

Useful Phrases for Structured Structured Monologue

Useful Phrases for Structured Structured Monologue M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Structuring When delivering a structured monologue, one of the ways to begin your presentation is to outline its structure, using one of the following phrases: I’ve divided my presentation/speech into three (main) parts. In my presentation/speech I’ll focus on three major issues. M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Effective Openings In order to grab the attention of the audience you may employ one of the following devices: Rhetorical questions;Interesting facts; Stories and scenarios; Problems to think about; Quotations. M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Rhetorical questions Is market research important for product development? Do we really need time management seminars? Interesting facts According to an article I read recently, †¦ Did yo u know that †¦ ? I’d like to share an amazing fact / figure with you. M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Stories and Scenarios Let me tell you what happened to me †¦ Suppose †¦ Imagine †¦ Problem Problem to think aboutSuppose you wanted to †¦ . How would you go about it? Imagine you had to †¦ . What would be your first step? M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Quoting a well-known person As †¦ once said, †¦ To quote a well-known writer, †¦ To To put it in the words of †¦ M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Introducing a Point When delivering the presentation on the particular subject it is relevant to introduce the key points. You may use one of the following phrases: First First of all I'd like to point out †¦ The main problem is †¦ The question of †¦Speaking of †¦ M . Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Enumeration of points If you are asked to provide several reasons, factors or arguments in a row, you have to organize them in the logical way. In order to structure your answer properly enumerate the main points using one of the suggested phrases: first first of all, I’d like to say †¦ in addition to that †¦ moreover, †¦ furthermore, †¦ another example of this is †¦ first, second, third †¦ Finally, †¦ M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Moving to the next pointThis leads directly to my next point. This brings us to the next question. Let’s now move on / turn to †¦ After examining this point, let’s turn to †¦ Let’s now take a look at †¦ M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Going back As I said / mentioned earlier, †¦ Let me come back to what I said before †¦ Let’s go back to what we were discussing earlier. As I’ve already explained, †¦ As I pointed out in the first section, †¦ M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Stating something as a fact Do not be afraid to state some information as a well-known act, if it is justified by the subject of discussion. However, you should be very careful when applying one of the following phrases: As As everyone knows †¦ It is generally accepted that †¦ There can be no doubt that †¦ It is a fact that †¦ Nobody will deny that †¦ Everyone knows that †¦ M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Giving Your Opinion There exist a variety of ways how to express your opinion when speaking English. The choice of an expression to be used in the particular situation depends on how strong your opinion is, i. e. how sure you are about a artic ular thing. M. Platonova „Materials for the Speaking Part of the Centralised Exam† Giving Your Opinion Neutrally I think†¦ I feel that†¦ In my opinion†¦ As As far as I'm concerned†¦ As I see it†¦ In my view I tend to think that†¦ From my point of view†¦ M. Platonova „Materials for the Speaking Part of the Centralised Exam† Giving a Strong Opinion I'm absolutely convinced that†¦ I'm sure that†¦ I strongly believe that†¦ I have no doubt that†¦ There is no doubt that †¦ I am absolutely certain that †¦ M. Platonova „Materials for the Speaking Part of the Centralised Exam† Expressing Uncertainty I definitely doubt if that †¦I am not sure that †¦ I am not certain that †¦ As far as I know †¦ It is very doubtful whether †¦ M. Platonova „Materials for the Speaking Part of the Centralised Exam† Giving reasons These standard phrases are useful in a variety o f situations, when you are asked to explain something providing additional information or giving the reasons. The reason for this is (that) †¦ I base my argument on †¦ I tell you all this because †¦ M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Rephrasing Expressions Sometimes we say things that other people don't understand, or we give the wrong impression.If you are asked to explain or clarify your idea, do not use the same expressions and/or phrases, try to reformulate it starting your answer using one of the following phrases: M. Platonova „Materials for the Speaking Part of the Centralised Exam† What I meant to say was†¦ Let me rephrase that†¦ Let me put this another way†¦ Perhaps Perhaps I'm not making myself clear†¦ The basic idea is†¦ One way of looking at it is†¦ Another way of looking at it is†¦ What I want to say is†¦ M. Platonova „Materials for the Speaking Part of the Centralised Exam† Indicating the end of your talk I’m now approaching / nearing the end of my resentation. Well, this brings me to the end of my presentation. That covers just about everything I wanted to say about †¦ As a final point, I’d like to †¦ Finally, I’d like to highlight one key issue. M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam† Drawing conclusions and sum-ming up The obvious conclusion is †¦ Last but not least †¦ The only alternative (left) is †¦ The The only possible solution/conclusion is †¦ In conclusion we can say that †¦ To cut a long story short, †¦ Just to give you the main points again, †¦ M. Platonova â€Å"Materials for the Speaking Part of the Centralised Exam†

Correspondence

It was a pleasure to meet you at the convention for trial attorneys In New York last week. In addition to the interesting program highlights of the regular sessions, the informal discussions with people like you are an added plus at these meetings. Your contribution to the program was very beneficial and highly Informative.You may recall that I had Just been appointed by the court to defend a woman here n Providence who has been charged with embezzling large sums of money from her previous employer. The defendant had been employed at a large department store for more than 25 years. Because of her valuable years of experience In accounting with the store, she was In charge of accounts receivable at the store. Her previous employer, the plaintiff In the case, claims that she embezzled $18,634 three years ago, $39,072 two years ago, and $27,045 last year.You mentioned that you had represented defendants In similar cases In previous years. Your assistance would be Invaluable as I prepare for this defense. If you are willing to lend your professional expertise In this case, here Is what Is needed: 1 . Within the next week, send the appropriate citations for all similar trials In which you participated. 2. Provide any other case citations that you think might be helpful In this case. 3. Meet with me In approximately two weeks for a case consultation.At hat time we can discuss compensation for your work on this matter. A copy of the formal complaint Is enclosed for your review. I will call you In about a week to arrange a time and place for our meeting. Please let me know If there Is additional Information that would be helpful In preparing for this case. Of experience will be invaluable.

Analysis Of Super Juniors Strengths And Weaknesses

Analysis Of Super Junior's Strengths And Weaknesses Super Junior is a 13-year-old idol group with a lot of guaranteed strengths, which made them to be one of the most successful artists of South Korean. Firstly, Super Junior is a group of 13 members with diversified talents who can update and adopt to the changing demands and tastes of the local and global environment. They are individual artist who are continuously working to enhance their multiple skills in entertainment industry by taking acting, singing, dance and foreign language class to communicate with international fans. With diverse abilities in different types of entertainment, Super Junior members can readily absorb local entertainment and identify their strength to fit into the gap of local artists; the large number of members (13 at their peak, 11 now) is also both strength and weakness. Secondly, their flexibility of member number (sub-unit groups) allow different experiments in new markets (such as Super Junior M, Super Junior KRY, etc.) and new genre of music performance (ballad songs, dance RB music or fascinating fierce performances, etc.). Besides, instead of operated and managed with other artists under SM Entertainment (SMEnt), Super Junior has been promoted under SJ Label a sub company of SMEnt with separated investment, staff teams and activities since 2015, which brought them more chance to shine not only domestically but internationally. With the management of SJ Label, they do not have to compete with other artists within SMEnt to get investment and resources. More than 10 years in the industry, they have elaborated themselves with relationship, reputation, experiences and power as well as experiences to attract new group of audiences and countries; good relationship within the entertainment market. Moreover, the fact that all members are above teenagers could be their chance to be easier recognized among young and early debut boy bands especially for international taste of appearance. Now, their initial contracts, so-called â€Å"slave contracts†, were expired so that they are now pursuing their own desire rather than being forced to fill the tight schedule made by the firm. Last but by no mean least, loyal fans and followers who have been supported them for a long time could be the intermediators to their friends, families or colleagues and not mentioning that they are growing up and have improved income so that these audiences shall be taken into account with special conditions; they have engaged fandom who are dedicated and devoted (like buying SMEnt stock to support their rights, buying billboard and advertising to help promote their album and concert, doing volunteers under Super Junior name) Beside their strengths, they also have weakness, some of which are the common of South Korean artists, but the rest might be from their own problems. Language and culture barrier to enter new markets out of their traditional zones (China, Japan or South East Asia).

Cons of Auto Bailout Article Example | Topics and Well Written Essays - 250 words

Cons of Auto Bailout - Article Example Consequently, that will implement fewer brands and dealers; along with that the taxpayers are bound fund failure. Also, an auto bailout only considers saving a single industry thus, the money may eventually go down the drain without having a chance on having a stronger and leaner industry otherwise. One of the major disadvantages of an auto bailout is that oil crisis would still be looming overhead, fuel would still go up. Hence, expensive cars like SUVs wouldn't sell as they call for more costly automobile fuels. Taking into account that the Big Three were already losing share of the market due to soaring costs, unimaginative designs and image problems an auto bailout surely cannot be of any help. Therefore, an auto bailout is not a practicle answer to the automotive industry as they will probably continue to produce hybrid or electric automobiles to get ahead in the comptetion which will not be advantagious in the long run.

Nuclear Power Industry Coursework Example | Topics and Well Written Essays - 750 words

Nuclear Power Industry - Coursework Example This reduction in total electricity contribution by the nuclear plants is largely due to the fact that many power plants have been shut down over the past. As constructing more nuclear stations is not considered economically viable, so any such plans are largely abandoned. The supplies of standard quality carbon-free electricity have also increased as a result of fuel reprocessing from nuclear stations in UK. Advantages of using nuclear power to generate electricity: One of the greatest all time advantages of nuclear power is that only a small portion of it can be generated into large amounts of electricity to boost a nation’s economy. Another worth mentioning benefit is that nuclear fuel doe not result into polluting the environment by releasing a lot of poisonous greenhouse gases. Technology provides ready means to reprocess nuclear fuel for generating carbon-free electricity. Recycling used fuel is a great achievement and many â€Å"commercial reprocessing plants operate i n France, UK, and Russia with a capacity of some 5000 tones per year† (World Nuclear Association, 2011). Another advantage of nuclear electricity source is that fuel is inexpensive and waste produced is markedly compact. The acid rain effects are also marginal compared to other electricity sources (Nuclear Tourist, 2009). ... The environmental impact of uranium mines is also less disastrous compared to other fossil fuels. Nuclear power stations also do not emit carbon dioxide and sulphur among other toxicants and sulphur emissions are principally responsible for acid rains. Disadvantages of using nuclear power to generate electricity: Meeting costs for emergency purposes and radioactive waste forms one of the biggest disadvantages of nuclear source of electricity. A large capital cost is required to meet such ends. Waste storage issue is another big problem and large capital is also required for that to be invested in storage systems. The waste produced by using nuclear fuel is highly radioactive. The nuclear wastes are radioactive and capable of posing a health threat owing to emission of radiations unlike the coal wastes which can pose threat to humanity only on grounds of chemical activity (Cohen, 2011). The more nuclear stations there are, the more there is the risk for nuclear attacks and sabotages a lso. Despite the reality-based claims that nuclear power generated wastes can be highly toxic and lethal for the world at large, still handling the radioactive waste is not that much of a big issue and the net amount of nuclear waste produced from nuclear operation based on one year â€Å"would occupy a volume of half a cubic yard, which means that it would fit under an ordinary card table with room to spare† (Cohen, 2011). This means that the quantity of waste produced by nuclear plants is so small unlike the massive wastes produced by coal-burning sources that it can be taken care of very sophisticatedly. The probability of acid rains also increases with millions of tons of waste generated by the

Quality improvement in clinical practice Essay Example | Topics and Well Written Essays - 2500 words

Quality improvement in clinical practice - Essay Example Sufficient application of patient safety within various organisations contributes to overall quality of services offered within a specified establishment. Patient safety and healthcare quality, therefore, remain two components which affect each other directly. This paper seeks to analyse the element of patient safety within various healthcare organisations. The paper presents a discussion of the various factors influencing the occurrence of patient safety incidents within a hospital setting. Patient safety incidents become significantly affected by three major factors; human factors, medical complexity and system failures within healthcare organisations. Majority of issue leading to the occurrence of these instances could be regulated through adoption of efficient patient safety framework and policies, enhancing patient safety. The current framework includes guidelines provided by government organisations regarding processes of implementing sufficient patient safety policies. Numerou s organisations continue to follow the government provisions; however, modifications enhancing safety become necessary in increasing the efficiency of the safety systems. These modifications, however, must conform to the provisions of regulating government authorities, charged with overseeing implementation of patient safety. ... ons 13 References 14 Introduction Patient safety refers to the prevention of erroneous occurrences, related to healthcare provision, which could present adverse effects on patients. Comprehensive safety includes the capacity for employees to operate within stipulated regulations, seeking to minimise occurrence of medical mistakes (Hughes, 2008). Such medical errors could potentially harm patients through presenting a hazard to patients. The inclusion of these regulations within different healthcare establishments ensures that patients remain unexposed to dangers, while residing within these establishments. Patients commonly attribute patient safety to quality healthcare; hence seek healthcare from organisations where they feel safe. Safety of patients remains fundamental to establishing a good reputation for various healthcare organisations. Enhanced safety operation ensures minimal cases of injuries and deaths of patients while residing within hospitals. The inclusion of safety proc edures within the healthcare sector remains fundamental in improving the quality of services offered within healthcare organisations. Patient safety has been identified as an indistinguishable component of overall patient safety (CokerGroup, 2008). Through patient safety, the balance realised between the realised operational procedures and provided guidelines comprise patient safety. The quality of healthcare resides within the perception of individuals receiving the care. This perceived quality could become enhanced through ensuring patient safety while receiving medical services, within a medical organisation. Enhanced patient safety, therefore, signifies quality healthcare to the recipients of the services. While safety procedures can become clearly defined, quality cannot be defined,