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Documente Cultură
Abstract:
21st Century is the century of globalization due to this competition trends
continually increase in each sector of market Human resource of every
organization is one of the most valuable and critical assets that play an important
role for growth and success of organization. The world of banking has changed
drastically since last decade. In banks, employees are required to be smarter,
safer, better trained, more thoughtful and more aware and engaged to meet the
expectations of customers, colleagues, regulators and stakeholders and easy to
handle the technological changes. Hence retention management in banking
sector require more focus for success of bank This case is attempting to
investigate how Human resource management of summit bank handle the
retention problem and the what are the factor involved that provoke the
employees to switch off the job and move to other bank and to identify the key
contributor in overall retention management among job satisfaction,
empowerment, training and development, career development and planning and
organization image. This paper concludes that if the commercial banks in
developing countries like Pakistan can successfully implement HR practices, they
could achieve the maximum contribution of their employees, although, at
present, the economic and political environment within which HR practices
operate is not that conducive.
Introduction:
Banking is on of most important sector in the economy of any country. Pakistan
has a well-developed banking sector that play a vital role in economy of Pakistan
Now a days Pakistan has well organized banking structure is based on wide
verities of institution consist on Central Bank, Commercial bank and to specialized
financial institution. The central bank makes monetary policies that’s define the
interest rate money supply in market because of so much advancement in
banking system and use of technologies Pakistan banking are easily connects to
the international market easy money transfer from Pakistan to another country
without any risk of money loss this success of work promotes the banking system
and number of new commercial banks are open in Pakistan with new
advancement and technology to serve the people of Pakistan
Summit Bank LTD is one of faster growing commercial bank in a very short span of
time it expends their network across the country. Summit build infrastructure
based on state of the art “Risk Management Framework” as well as “IT
Platform.” Also, targeting to be a universal bank in terms of providing products
and services in all key segments of banking i.e. Corporate and Investment
Banking, Trade Finance, Commercial Mid-Market / SMEs, and Consumer Banking,
it commenced its operations in August 2006. On 31st March 2010, Suroor
Investments Ltd, a company incorporated in Mauritius, acquired 59.41% stake in
Arif Habib Bank Ltd from Arif Habib Securities Ltd, and on 18th August 2010, Arif
Habib Bank Ltd was rebranded as Summit Bank Ltd. Having the strong IT Plat
form of the bank offering web and SMS banking to the customer and also provide
strong “management information system” (MIS) to its management the Bank is
committed to be recognized as a preferred supplier of financial services to the
markets it serves. To achieve these goals, the Bank will strengthen itself in the
financial service industry, leverage optimal mix of technology to attain operating
cost efficiencies, achieve product and service differentiation, while at the same
time growing its footprint through further expansion of its branch network across
the country.
Retention is considered as important tool for the employer to exercise and retain
their valuable and critical resources and avoid talent drain from the organization.
Higher the association of the employee with the organization greater the
retention ratio. For more than a decade, Pakistani Banking sector is growing to
heights where they were never. They are enjoying customer legacy and
competition. Regulations are tightened day by day due to new technological
interventions and risks. In such a challenging environment, retention of quality
and skilled worker requires great effort by the top management. This study
attempts to investigate the retention issues in Summit of Pakistan and to identify
the key contributor in overall retention management among job satisfaction,
empowerment, training and development, career development and planning and
organization image. Findings of this study help the commercial banks in
understanding the key contributors in employee retention and provide the insight
to researchers to explore more factors affecting employee retention
Problem statement
Research Objective
Our research objective is to find out the main factors that effect on employment
retention in summit bank what are the key cause of employee’s turnover and
examine the role of Human resources polices of organization regarding strategy
formulation and intervention regarding improvement in retention strategies. The
main concern of our research is to find out the ways through which employees
retention issue in summit bank may reduce and have positive impact on bank
performance.
Empowerment
Job Satisfaction
Career Planning & Development
Organizational Image
Training & Development
Results and Discussion
Deposit are the key resource of bank success but for don’t impose extra
pressure to the employees to get more and more deposits for reach their
target motivate them through concealing manager of the bank must listen
and encourage them
Salary is the key variable and important thing for employees summit bank
focus on it try to improve their salary and promotion and financial benefits
polices that might be work to retain them.
Time to time training is another factor some individual may focus on
learning give time to time training session that improve employee’s skills
and knowledge and make them more competitive.