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    publié le 11/06/2012

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    A case study of Standard Chartered Bank

    Document de 5.5 pages au format PDF

    RÉSUMÉ

    A case study of Standard Chartered Bank. An analysis of the remuneration practices at SCB after the 2008 financial crisis.

    AUTRES

    Extract:

    Employee reward is defined as "all forms of financial returns and tangible service that benefits employees receive" (Milkovich and Newman, 2004). If an organisation follows reward management we might assume that the intention of this organisation is to create reward policies that are in alignment with their human resource management to protect the strategic views of the company. Firstly, we will reflect on the Bank's reward strategy and how the external environment influences this strategy (I). Secondly, the changes agreed by the Board Remuneration Committee will be critically evaluated (II). Finally, the theoretical and ethical perspectives that the Bank might consider in relation to rewarding large annual performance awards will be discussed (III).

    [...] Firstly, the Standard Chartered Bank (SCB) put an emphasis on human capital. The human capital theory suggests that individuals invest in education and training which will increase their productivity and thus the likelihood of receiving a higher compensation (Abercrombie et al, 2000). It is acknowledged that firms invest in people in the view to increase productivity; in order to do so it is essential to develop the human capital of employees and attract and retain people with required knowledge and skills (Youndt et al, 2004). At SCB the amount of variable compensation "increases with seniority, as does the balance of cash". It is thus a measure reflecting the human capital management at SCB trying to retain their employees. There is also a human capital management strategy in place which consists of three steps: understanding, developing and taking action on key people metrics. Also, a human capital scorecard is used and the information gathered are according to SCB an "important input into rewards plans and processes" which demonstrates their human capital concern.

    Secondly, the agency theory is used at SCB. To understand what agency theory is one could explain it a contrario by describing the problem of misalignment. Lawler (1971) observed that only few company examine the impact of reward systems on organisational effectiveness and how they relate to the strategic objectives of the organisation (...)

    Table of Contents:

    Introduction

    I) The bank reward strategy

    A. The underlying theory
    B. Reward policies and practices

    II) The changes agreed by the Board Remuneration Committee

    III) Rewarding large annual performance awards at Standard Chartered Bank

    References

    5.5

    Docs en anglais publié le 11/06/2012

    5,40 €

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