When a bank unable to conduct its day to day business as it should, then it will lose its client base to their competitors. This could also make it impossible for the bank to meet its objectives that it had set for itself. The bank that is unable to conduct its business as it should also risk being put into receivership. Another risk that could also negatively affect a bank is a reputational risk that could be caused by the activities at the bank, rumors, non-compliance with regulations, bad customer service etc. All this and more could affect the reputation of the bank negatively which could also lead to loss of clients.
This puts stress on them. It is found that maximum number of employees in banks remains in stress. 50% employees feel that they are overloaded with work. 42% employees feel tensed due to their non-achievement of their target of work. 36% employees accepted that they will obey the order of their boss by sacrificing their important domestic function.
The other factor here is bank’s financials will change with the decision. Both options will also have a different effect financially. 3. Employees: No doubt, if any action is taken in terms of laying off people on the grounds of performance the risks of degrading morale grow on every employee. Crisis is supposed to unite people and motivate people to work efficiently as a team to get out the unwanted situation.
The bank’s internal management often doesn’t know what’s going on in the trading, with the clients. “The real threat is not a bank’s management hiding things from us, it’s the management not knowing themselves what the risks are, either because nobody realises it or because some people are keeping it from their bosses.” “The biggest problem in banking is measuring performance. People are faced with immense temptations to take risks with their bank’s capital or reputation, knowing that if they don’t act on them, their colleague across the desk will. The problem with today’s banks is that those who accept the risks are no longer those who get stuck with the bill.” Power Structure: The firing has a harsh culture in the banks, who can’t perform well, will be fired, they don’t have any second chance. („Every year, prestigious banks such as Goldman Sachs and JP Morgan routinely fire their least profitable staff”, “When you can be out of the door in five minutes, your horizon becomes five
A total of 8 questions were asked from 29 respondents. Through this survey we aim to explore the investment banking sector and how satisfied the employees are in an investment bank. This research paper includes how satisfied the employees are with their companies, their current job positions, what are the major reasons for job dissatisfaction etc. This research was conducted via telephonic interviews, online survey and from the facts and data that we were able to gather from the internet. Our research was mainly focused on what factors are related to job satisfaction and what are the major reasons for job dissatisfaction at an organization.
On one hand this will help the bank to save time, cost and paper and on the other hand it will help to reduce the waiting time. 22.214.171.124 MORE STAFF DURING PEAK HOURS As actually there is trainee working on the counter therefore during peak hours, more staff should be provided in order to back these new and unexperienced employees. There should be a counter available for the short transaction such as request for a bank statement or special clearance. 126.96.36.199 MORE FOCUS ON PEOPLE THAN SALES Nowadays, bank focus more on sales than the people management and the customers feel it, there is mismanagement in the relationship between the client and the representative and there is no more this human touch. The employee are like robot which is focus on their target , if a customer is scanned and saw that it will not bring any profit to the bank, it is put aside.
There were also other interns in our department that is from another school; they started their internship last June so they were ahead of us. But unlike us, they only came to the office during their free time because they still have other classes to attend to. When I found out about this I considered myself lucky because
In 2008, we introduced a pilot to understand and address the root causes of employee turnover in the growth markets of India and the UAE. In India, employee attrition has reduced by 7% since the approach was introduced.’’ Attention should be given to the following questions, such as Do banks apply good HR practices to retain their key employees? Is there problem of high employee turnover in banking industry? Are employees satisfied with their present job? And are banks applying employee retention strategies such as engaging employees?
1. Introduction 1.1 Background Information The Banking and Financial Services 6-month internship provides an opportunity for students to gain exposure and experience in the working environment. This promotes learning beyond boundaries of classroom-theory whereby students will have a hands-on application in the working world. 1.2 Purpose The report reflects a banking student’s learning experience during the 6-month internship in the bank. This includes the student’s understanding of the bank and its operations, description of the department and the job assigned and the take-away from the internship.
It also gave the idea that there is a negative relationship between financial costs and switching costs and behavioral intentions. Also service quality, loyalty and word of mouth had positive relationship Dr Rathee Rupa et al(2014) To Identify Service Quality Gaps in Banking Sector: A Study of Private Banks International Journal of Emerging Research in Management &Technology Vol3, No.7)2014 The study used a sample size of 100 using quota sampling and SERVQUAL scale to find out service quality gaps in private sector banks.The highest gap in the quality areas was found to be in the Reliability and Empathy aspectsand the study provides usggestions to solve