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1.

EXECUTIVE SUMMARY

SerandiB Bank was a well reputed and one of the oldest privately owned banks in the country
which was founded by Mr. Leon De Zilva. The bank has 9800 workforce and also operates a
branch in each leading town including two overseas branches. On the same day SerandiB bank
celebrated its 50th anniversary and appointed a new CEO, Ms Maya Robins. Though Ms Maya
was a well experienced top executive in 02 multinational banks, many senior executives of
SerandiB were extremely unhappy with the new CEOs new approach.
SerandiB achieved a higher growth rate in financial terms during first two years tenure of new
CEO. After 02 new foreign banks launched their branches in the country with wider publicity
and latest banking trends, SerandiB lost their customers and some senior employees too. Within
06 months SerandiB lost 50% of its customer base and turnover rate increase to 22% since many
senior staff members joined the new foreign banks for better perks.
In the first quarter of the next year SerandiB had to close down their 22 branches and also
divested 02 overseas operations. After that the board decided to replace CEO to gain the
profitability and reputation they had before.

QUESTION 01
SerendiB Bank celebrated its 50 th anniversary and appointed new CEO Maya Robins fell on
same day.
Actually SerendiB Bank was one of the oldest privately owned banks in the country. The bank
enjoyed a monopoly with 2 other leading state banks mainly due to the government regulations
discouraging the operations of foreign banks in the country.
So many senior executives were extremely unhappy with the CEOs new approach. Actually
when the new CEO came he did more changes in this bank. So that previously to the employees
gave the promotions, non- financial rewards for the individual efforts and enjoyed traditional
banking activities depend on the seniority based.
In the 50th anniversary there was a new Chief Executive Officer (Mr. Maya Robins) appointed to
the SerendiB bank. Before come to the SerendiB bank Maya was a successful top executive in
two multinational banks based in abroad. When the time new CEO come to the bank they have
9800 employee base and also operates in each leading town including two overseas branches.
CEO brings changes to the bank with his foreign experience and practices, before Maya comes
the bank practiced a non-financial rewarding system. But since Maya appointed as the CEO he
changed that system into a financial rewarding system, because he believed only on the financial
rewards for motivating employees. He also brings some other changes to the SerendiB, such as;

Corporate vision and strategies for next 05 years


Creating customer friendly processes
Introduction of latest technology
Motivating internal staff through extrinsic motivation
Promoting team work and achieving goals through team dynamism

QUESTION 02

SerendiB bank faced several situations in very short period of time; to resolve these situations
the HRM department can use SHRM procedures in their business. SHRM practices can support
the business through all functioning areas in HRM.

Employee Resourcing
Resourcing means employee recruitment procedure of the organization, according to above two
situations SerendiB bank has to recruit new employees for their company immediately.
Resourcing help the management to identify what are the areas needs to be recruit and what the
profile of the job is. Another objective of resourcing is promote the company through employees
(Employee Branding), also employee resourcing support the company to maintain a continues
flow. In this case we need to recruit
people who can work with latest technology and compete in competitive market.

TRAINING AND DEVELOPMENT

When the employees adapt the new CEOs new approach we should give the training to move
the new changes in the bank. The new CEO introduce the new banking processes such as ATMs,
Telebanking, Personal Loans, Credit Cards, Premium banking etc. So that we organize the
training program how to use that new banking processes and how to adapt that processes well.
And develop the employees skills and attitudes to move the new banking changes.
Reward management
Rewards should give according to the skills and competencies, contribution, market
worth in accordance with their value to the bank. And also it should be concerned with
the formulation and implementation of strategies and policies the purpose of which are to
reward employees in the SerandiB bank.
Fairly
Equitably

Consistently

Compensation should concern with financial & non-financial rewards.

QUESTION 03

There are 03 steps in talent management.

Talent identification
We should identify current talents and past performance of the employees of
SerendiB. And also we should identify future potential. Along with future

potential we can identify their self aspiration.


Talent development
Talent development is competency based, long term and continuous effort. If
employees had good technological knowledge they will easily understand the new
banking system. So I think improving their talents will help to compete with their

competitors and increase their performance and profits too.


Talent retention
Talent retention is all about retaining the best talent. After the senior staff left the
SerendiB, the main challenge to the management was retain the best talent to gain
past performance. For that they can have a retention plan. It helps to recognize
employees and reward them to meet their expectations. When employees meet
their expectations they will retain within the company.

Acknowledgement

I would like to thanks to the Institute of Personnel Management of Sri Lanka for the given
opportunity to write this assignment on module 10.
Also I would like to thank all the lecturers for the support, especially Mr.rukmal bandaranayaka
for the guidance, commitment and knowledge given throughout the sessions in module 10.

REFERENCES

Books

George W. Bohlandar and Scott A. Snell (2013) Principles of Human

Resource Management (16th edition), New Delhi: CENGAGE Learning

SHRM handouts

Web sites
http://en.wikipedia.org/wiki/

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