Project no.
PROJECT REPORT ON HUMAN
RESOURCE MANAGEMENT
ROYAL BANK OF SCOTLAND
V/S
BANK OF BARODA
Presented on: Dec. 1, 2008
SUBMITTED TO:- SUBMITTED BY:-
Prof. AMAN AGARWAL SUMATI SETHIA :- 4108168168
Indian Institute of Finance VABHAV TIWARI :- 4108176176
SUDHIR SHARMA :- 4108166166
INDIAN INSTITUTE OF FINANCE, GREATER NOIDA
ACKNOWLEDGEMENT
It was a great pleasure and honour for us to undertake this project. This project
is been a consolidated effort of all those who directly or indirectly helped us in
completion of this and guided us at various stages of this project. We would like
to thank all of them help and support.
We are indebted to Prof. AMAN AGARWAL who has given knowledge and
guidance regarding this project, who was always available to answer our
queries, was eager to help whole heartedly anytime.
We would also like to pay sincere gratitude to Prof. J.D. Agarwal (Chairman,
IIF, Greater Noida), Prof. Deepak Bansal (Indian Institute of Finance) for
providing us this opportunity and all other facilities.
SUMATI SETHIA: - 4108168168
VABHAV TIWARI: - 4108176176
SUDHIR SHARMA: - 4108166166
INDIAN INSTITUTE OF FINANCE, GREATER NOIDA
DECLARATION
This is to certify that “Project Report” of a Human Resource Management was
carried out by us as part of requirement of management of business finance
(MBF) 2nd semester program. This study is being submitted for approval to the
Indian institute of finance.
We declare that teh form and content of above mentioned project are original
and have not been submitted in part or full, for any other degree or diploma of
this or any other organisation/institute/university.
Submitted by:
Sumati Sethia (4108168168)
Vabhav Tiwari (4108176176)
Sudhir Sharma (4108166166)
INDIAN INSTITUTE OF FINANCE, GREATER NOIDA
THE ROYAL BANK OF SCOTLAND
The Royal Bank of Scotland was established about
three hundred years ago with the objective to become the largest financial group
in the world. Established in 1727, the Royal Bank of Scotland group had been
operating in United Kingdom other part of Europe.
The present report looks deep into the human resource
policy of the Royal Bank of Scotland with a view to find out pros and cons in
the human resource policy. The present report also tries to take a comparative
view of the human resource policy of the two banks i.e. Royal Bank of Scotland
and bank of Baroda.
The Royal Bank of Scotland group specially focuses
upon their CODE OF CONDUCT which deals with integrity matters of the
members of the organisation. Integrity, we all know is an essential component
of human resource which helps in development of the organisation.
The Royal Bank of Scotland clearly recognises the
fact that no code of conduct is permanent, yet to ensure that the member of
Royal Bank of Scotland (henceforth referred as R.B.S.) act honestly and in a
trustworthy manner, this code (human resource policy) has been adopted. This
code also applies to the contractor and those engaged through external agency.
In case they fail to follow this code, disciplinary action, amounting to criminal
offence, may be initiated.
INDIAN INSTITUTE OF FINANCE, GREATER NOIDA
HUMAN RESOURCE POLICY OF
ROYAL BANK OF SCOTLAND
The Royal Bank of Scotland group has been
employing about 1,70,000 people in over 60 country, taking care of financial
activities of 40 million people belonging to various countries. The company is
operating zone is mainly the European and the American continent.
HR POLICY:
• SALARY WAGES AND BENEFITS:
The Company follows executive remuneration
policy. The objective of executive remuneration policy is to
provide in context of company business strategy, remuneration in
from of an amount which will attract, motivate and retained high
calibre executive.
In order to achieve these objectives the policy is
framed around following core principles:-
1. Total rewards will set out at level
that are competitive within the relevant market
taking each executive directors remuneration
package as a whole.
2. Total potential rewards will be
earned through achievement of demanding
target.
3. The Remuneration package will
strike as appropriate balance between fixed and
performance related rewards.
4. Performance related elements will
comprise the major part of executive
remuneration package.
INDIAN INSTITUTE OF FINANCE, GREATER NOIDA
5. Incentive plans and performance
matrix would be structured to be robust
through the business cycle.
6. Remuneration arrangement will be
designed to support the company’s business
strategy, to promote team work and to confirm
to best practice standards.
• RECRUIMENT AND SELECTION :
Every effort is made to ensure fair recruitment. The
following points give us the overview of the
recruitment and selection process followed at R.B.S.:
1. Checking the job and candidate
specification are relevant and non
discriminatory.
2. Ensuring that the working and
images used in job adverts and appeal to all
section of the society.
3. Using advertising media that reach
all sections of the society.
4. Communicating our policy to
recruitment and employment agencies.
5. Short listing only those people
whose skills and qualifications most closely
suits the job for which the recruitment notice/
advertisement have been placed.
6. Asking fair and consistent
questions to the selected persons at the
interview conducted at our various centres.
7. Keeping records of recruitments
and selection process at the interview.
8. Monetary recruitment and
selection to ensure quality of opportunity
throughout the process and if necessary taking
steps to eliminate any discriminatory practices.
INDIAN INSTITUTE OF FINANCE, GREATER NOIDA
• Promoting career and development:- Royal Bank of Scotland
focuses on employees, on individual, with particular talent and
experience, rather than making assumption based on their age,
race, gender, marital status, and disability.
• Managing diversity policy:- The R.B.S. tries to manage its
policy by virtue of following four principle these are :
1. Training
2. Grievance and Discipline
3. Disabled employees and
4. Age
1. Training:- The training is to
improve performance in the job, to develop
skills and to prepare individuals for other roles.
A range of training options; such as open
learning, computer based training & regional
seminars, will be offered to ensure that all
employees have equal access to training
irrespective of location or hours of work.
2. Grievance & Discipline:- If any
employee believes that they are unfairly
discriminated against they should make a
complaint using the groups grievance
procedure.
3. Disabled employees:- The group
recognisees its responsibility towards disabled
employees and seeks to eliminate unjustified
discrimination on ground of disability.
4. Age:- The group is fully
committed to prompting age diversity across
the group. In evaluating the contribution,
regardless of age, the group will seek to
eliminate the age stereotyping and
discrimination on the basis of age.
INDIAN INSTITUTE OF FINANCE, GREATER NOIDA
BANK OF BARODA
The Bank of Baroda was established about a
century ago in 1908 from a small business in Baroda to almost across 25
countries (in all seven continents) , is a saga of vision, mission, enterprise,
financial prudence and human resource.
Its mission statement: To be a top ranking
National Bank of International Standards committed to augmenting stake
holders' value through concern, care and competence.
Bank of Baroda seeks to be the source that helps
all its stakeholders realise their goals. To the customers, Bank seeks to be a one-
stop, reliable partner who will help them address different fin