Standard Chartered today

Today Standard Chartered is the world's leading emerging markets bank employing 30,000 people in over 500 offices in more than 50 countries primarily in countries in the Asia Pacific Region, South Asia, the Middle East, Africa and the Americas.

The new millennium has brought with it two of the largest acquisitions in the history of the bank with the purchase of Grindlays Bank from the ANZ Group and the acquisition of the Chase Consumer Banking operations in Hong Kong in 2000.

These acquisitions demonstrate Standard Chartered firm committed to the emerging markets, where they have a strong and established presence and where we see our future growth.

Globalization Of Business And Hr Policies

It is clear that SCB has acquired a globalization character and the business of the bank has more or less spread all over the world. The bank has formulated its HR globalization polices depending on the following factors to get the maximum result in the countries it is operating.

· Legal & Political Factors: Before setting up operations in any country SCB studies the prevalent legal and political system in that country. Countries with relatively stable constitutional and democratic governments having defined labor laws are not difficult to manage. In countries where the government is not stable, legal system not effective, handling of labor unions and employee relations becomes a bit more difficult. It is always important for the bank or any foreign institution to study the legal and political environment prevailing in the country.

· Economic Factors: The economy of the country where SCB wants to operate or conduct its business needs a careful study. In a growth oriented economy where GDP ratio and production level is high, the chances of deposit mobilization and lending operations are favorable. The wages in a country with growing economy would be higher because of the almost full employment conditions.

· Cultural Factors: The importance of cultural forces affects the bank’s HR Management cannot be over emphasized. Culture in fact represents values, beliefs and actions prevailing in the country. For example; if a bank has to operate in a predominantly Muslim country like Pakistan, the break for Friday prayers to the employees will become necessary as it is apart of strong religious belief.

· Individual vs. Group Values: In some of the counties including USA, the individual performance is rewarded without any implications. In contrast, the Bank with their operation in some Asian countries including Japan, the group oriented performance is preferred. These cultural strategies help the SCB to have its operations more effective all over the world.

Global Staffing Policies:

SCB as a matter of global employment policy prefers to employ locals in the country of operations and only senior employees are either expatriate or from the host country. This policy is appreciated in most of the third world countries where a bank is able to provide the employment opportunities to the citizens of that country.


Attracting & Retaining the Best Talent at SCB:

Working at Standard Chartered provides the opportunity to:

· Work for an organization operating across 56 countries.

· Be part of an organization with a 150-year history and a reputation for excellence across the Bank’s businesses and markets.

· Benefit from our unique approach to people management which recognizes values and develops individual strengths and talents.

Harnessing Diversity through Inclusion:

Standard Chartered employ over 33,000 people across 56 countries and territories. The workforce comprises over 80 nationalities (including 45 at senior management level) and close to half is female. We want to lead by example in building a multi-talented, diverse and representative workforce and leadership. The simple logic behind our commitment to diversity and inclusion is to attract and retain the best talent and harness the differences individuals bring, enabling them to realize their full potential. We see individual differences as strengths, allowing us to deliver higher performance and true competitive advantage. Our Diversity Council provides a strategic, global focus to diversity and inclusion in the Bank.

Attracting new Talent:

We work hard to attract and select employees with the talent and skills to achieve outstanding performance. Internal and external research clearly shows that the closer the fit between an employee’s strengths and those required for the job, the greater their success. Robust assessment tools and processes are used to benchmark candidates against the talents required for exceptional performance.

Identifying future Leaders:

The Bank's on-line global graduate recruitment site provides an effective method of attracting and recruiting talented graduates. Successful applicants join a two-year International Graduate Program which stretches them through on-the-job learning and rotations, in-depth business training, performance coaching and three international, residential workshops. Following the completion of the program, our graduates receive continued support in building their careers.

Helping people to make a difference:

We work alongside employees to support career growth. This includes personal development planning, strengths identification, mentoring and structured learning and development is encouraged for all staff and is essential to enhance and develop our employee capabilities.


Recruitment Website:

Standard Chartered follow the application procedure online within its recruitment site. Applicants can review current job openings by running a search using the job finder tool. Once they have identified positions of interest, complete and submit the online resumes. If their qualifications and experience are found to be suitable for the position applied, they will be contacted for interview within 6 weeks.

Applicants can also post their resume to explore other job opportunities, which have not been publicized, on the web page. Their skills can also be matched against future job openings and they will be notified if their skills and qualifications match the requirements for these openings. All applications will be treated in strict confidence. Submitted resumes will be kept for a period of six months and will only be used for recruitment purposes.



Following the recruitment process, the selection process begins by choosing the individuals who have a required qualification to fill in the job in the organization. Selecting the right people is of paramount importance and SCB realizes the necessity of making right selection and placing them in the right job. The time allocation in the process of selection though high but considering the importance of hiring the most appropriate employees in the bank, the cost and time involved is ignored.

Number of Interviews conducted before a Job offer:

On an average there are 3 stages - one interview with Human Resources and two with the business hiring for the position. This process gives a more selection responsibility to the concerned manager, whereas the HR department conducts a single interview primarily to screen out the undesirable candidates.


Placement and selection are in a way part and parcel of the same process. Placement of the selected employees in the bank must be done on a job most suitable to the selected employee.

SCB takes pains and the selected individuals are assigned the right job considering the man’s specifications. Generally the fresh MBA’s selected are trained in a group and those with outstanding results are given extensive training on specialized fields such as treasury, corporate finance, etc. In order to place them directly in the treasury or the financial control division.

Training Human Resources

SCB’s Philosophy of Learning & Development:

· Everyone is uniquely talented.

· People are most effective when they are able to identify and develop their individual strengths.

· People thrive when they take ownership of their own development and are provided with the right support and encouragement to do so.

Our approach to developing people’s strengths is simple. We believe:
This strengths-based approach lies at the core of the Bank’s development philosophy. Managers are encouraged to help employees identify and develop individuals’ strengths to help themselves and their teams to deliver sustainable performance. A large percentage of employees have benefited from formally identifying their strengths using an on-line self-assessment system. This is supported by our trained in-house experts, or Strengths Coaches, who facilitate the development of action, plans to help individuals and teams improve their effectiveness.

Training provided to Fresh Graduates:

Fresh graduates willing to work in the bank must clear a test and then the successful applicants have to go through a two-year international training program which includes stretching job rotations on a permanent basis which stretches them through on-the-job learning in depth business training, on going performance coaching, three international residential workshops and support tools such as e-learning and a buddy process. This program is known as “Graduate Development Program”.

The Bank offers exceptional international exposure to our Graduates during and following the program, whether it be working in a global project, attending the residential programs or just talking to colleagues on the other side of the world!

Graduate Development Program:

The graduate development program consists of following four programs:

1. Local Induction:

Graduates journey in their home country and has been designed to give them a clear understanding of the organization, an in-depth view of their country's businesses and functions and details of on-the-job training. It will also give them an opportunity to network with business managers and to clarify their development plan at the outset.

2. International Induction Program:

This program has been described as ‘a survival kit’ for new Graduate Associates. In fact it is much more than that. Firstly they will get the opportunity to build an international network and develop friendships within the Graduate Associates community. Secondly, they will learn about the organizations strategy, market challenges, risks and opportunities and how that translates to their business and country. They will also have the opportunity to build their own self-awareness and learn more about the SCB’s core values.

3. International Career Development Program:

The Graduates roughly one year into their career with SCB attend a second residential workshop focusing on their individual career development. SCB help them to identify their strengths and understand how it can best leverage them. Graduates will go through a series of challenging activities aimed at understanding their own motivations and drivers, building upon their networking and personal effectiveness skills.


International Graduation:

This workshop marks the end of Graduates time as a Graduate Associate and helps them to take full ownership of their career. SCB provide them with structured opportunities for self-assessment, looking in-depth at what they’re good at and where their aspirations lie. It helps them to take control of their career goals and look forward to a long lasting, successful future with Standard Chartered! At the end of the two-year program SCB take a close look at graduates individual development needs and career aspirations and start to match these with challenging career opportunities available - these may including cross-functional and cross-geography moves, if appropriate.


Our mission at Standard Chartered is to be the world’s best international bank, leading the way in Asia, Africa and the Middle East. We strive to be the best, to be the Right Partner for our customers and to do that we are focused on attracting, developing and engaging the best talent in the marketplace. As Chief Executive, I see the International Graduate Program as a critical component of Standard Chartered talent strategy.

I firmly believe we offer exceptional graduates a unique proposition. First and foremost, the program is one of the most international, if not the most international, you’ll find - anywhere. Yes, we have a network of Graduate Associates growing their careers in 25 countries around the world. But it’s more than just our geographical reach. Our ‘international’ value is part of the fabric of the organization, the way we do business. It’s about open-mindedness, creativity, diversity, ambition and personal leadership – all embodied in our graduate program and all strengths I am looking for in leaders of the future.

I encourage you to find out more from these pages about our distinctive offering – our enduring values, passion for our customers’ success and ambitious strategic intentions. You will learn that we are a leading organization in growing and vibrant economies. The future is exciting.

If what you read intrigues you and if you believe you can really make a difference, I invite you to apply and explore the possibility of a stimulating, dynamic career with Standard Chartered.


Standard Chartered being a foreign bank is disciplined and performs tasks rigorously. It is disciplined because following objectives are considered very essential i.e. what, when and how things must be done. Every person is monitored and commented on his performance and thus given a rating accordingly. There’s no strict system of hierarchy being followed.

Evaluation System:

Individual & Team based appraisal

The corporate managers directly talk to every individual about his performance and achievements. They analyze each individual on the basis of his potential, the enormity of task assigned, and how much effort is being put into it.

Individual appraisal

Weekly flow meetings are held but full-fledged appraisal is done on yearly basis. During the appraisal the salaries are set and the names of employees eligible for bonuses are decided.

Team based Appraisal

Monthly appraisals are done for analyzing teams. Reporting is done region wise. Sales campaigns are organized and it is this time when every team is under strict observation. Whichever team performs best i.e. wins is rewarded. Latest campaign organized was “Sky is the limit”.

On the whole the appraisals are done keeping in mind what you do (Grades A-E) and how you do it (Grades 1-5). The best rating you can get is 1a.

Appraisal Process

Performance is reviewed and discussed with the supervisor. Each objective has to be completed in a specific time period. The employee is told which work he has to do, how the work is going to be done, which ways or means he is supposed to use to accomplish his task and if the employee has any sort of problem the head of the department is there to help them.

Employee Recognition Program

Employee’s recognition is very important to encourage and mould the employee towards better performance in his job. SCB runs an employee of the month program which is intended to highlight and name the best employee for the month. Apart from encouraging the winner of this program, it helps in creating a competition among employees where each employee would try to earn the title of best performer of the month.

Employee Involvement Program

Employees can easily take their problems to their seniors including the top management. They have an open door policy. Meetings are held on need basis usually it takes place once a month not weekly in which employees can share their views and ideas. They do encourage the ideas of the employees and if they are suitable then these ideas are implemented and employees whose ideas are selected for implementation are also rewarded.

Historically in Standard Chartered employees were give increment as other banks gives to their employees. That is according to following standard grades:

A--- Which signifies Excellent, given e.g. 10% increment

B--- Which signifies Above Average, given e.g. 7% increment

C--- Which signifies Average, given e.g. 5% increment

But the disadvantage of this reward system was that the difference between the increment given to B grade employees and C grade employees was very narrow i.e. only 2%, which means that even an employee who does not work well was given 5% increment. This eventually also leaded to high cost to the organization.

Later the company came up with a new concept of Pay for Performance reward system in which apart from basic salary a handsome amount was given on the basis of performance.

For example, few years’ back one of the employee who had come up with a new project design was rewarded with PKR 35 hundred thousands. With results of unexpected pay for performance reward supported by a letter of appreciation also motivated those employees who previously did not perform well.

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