HOW TO DELEGATE TASK Type Public (BSE , NSE) Industry Banking,Capital Market Founded Madras,Feb 10,1937 Headquarters Chennai, India Key people Chairman & MD S A Bhat Products Loans,Credit Cards,Savings etc. Bank Deposits 110,000 crores (March, 2010) Advances 80,000 crores (March, 2010) Website www.iob.in DELEGATION MEANING Literally meaning – Assignment of authority and responsibility to other person. Also called deputation. The person who delegated the work remain accountable for the delegated work. DELEGATION Important management skill. • Saves time, develops workforce, and motivates. • A two way process. • Focus on your strengths and delegate weaknesses Poor Delegation will cause you • Frustration • demotivates • confuses the other person, • and fails to achieve the task or purpose itself. WHY SHOULD YOU DELEGATE? To ease the burden To develop the skills of employees. To spread accountability and trustworthy team. To respond faster to changes in business WHY DUTIES ARE FREQUENTLY CHANGED IN BANKING SECTOR? To gain experience To keep secrecy Customer relationship with employees FACTORS WHILE DELEGATING TASK? Ability / Skills Experience of person Willingness to do work Educational Qualification Current workload of employee Resources of organization The person who needs Minimum guidelines. HIERARCHY OF EMPLOYEES IN BANKING SECTOR? Head Senior Manager HOD Officers Special Cader Assistants (SCA) Clerical Staff HOW DELEGATION HELPS IN DEVELOPING INDIVIDUAL SKILLS ? Helps in career prospects. level of knowledge/skills Experience. Confidence increases. Personality development. LEVEL OF DELEGATION IN ORGANIZATION? Firstly get the information about the present situation and then mutually analyses the situation They then direct the employees WHY TO DELEGATE THE TASK IN A GROUP? If the volume of work is more. It depends upon the importance/nature of work. Timely work. Effective work. Finding different alternatives to a given problem/job. To create a feeling of well being/ oneness in organization. WHY MANAGERS AVOID DELEGATION ? long time to explain to undertrained. Not capable of doing task. If I want it done right, i have to do it myself.“ Workers already overloaded with work. Responsibility rests on manager (Head) Don’t trust on the capability of employees. BENEFITS OF DELEGATION ? Increases productivity. Perform a task faster. Learn new and valuable skills. Manage time effectively. Provide assistance to the employees to work on new assignments and challenges. Provides the role/ position he holds in organization. BARRIERS OF DELEGATION ? Unions Associations Job Knowledge Educational Qualification Ability of employee Lack of trust in subordinates LEARNING Clear Objectives Realistic Deadline Use a reminder system to ensure proper follow-up Provide Adequate Resources Appreciation THANK YOU HOUSE IS OPEN FOR QUERIES ????