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Employee engagement hdfc bank

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Employee engagement hdfc bank

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Employee engagement hdfc bank

  1. 1. 1 PROJECT REPORT ON “A STUDY ON EMPLOYEE ENGAGEMENT HDFC BANK LUCKNOW” UNDER THE GUIDANCE OF Mr. VIPIN SINGH SUBMITTED BY: SAHAR SHAFI Roll No. MBA IVth Semester IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF MBA SIKKIM MANIPAL UNIVERSITY, SIKKIM SESSION- 2013-15
  2. 2. 2 ACKNOWLEDGEMENT It is an event of great pleasure in submitting this project work entitled, "EMPLOYEE ENGAGEMENT HDFC BANK LUCKNOWIN" a project. I express my sincere gratitude to my guide Mr. VIPIN SINGH for his able guidance, continuous support and cooperation throughout my project, without which the present work would not have been possible. I would also like to thank to my parent for their regular support and help in the successful completion of my project. (SAHAR SHAFI) (MBA IV SEMESTER)
  3. 3. 3 BONAFIDE CERTIFICATE Certified that this project report titled “Employee Engagement HDFC Bank Lucknow in” is the bonafide work of Ms. SAHAR SHAFI who carried out the project work under my supervision in the partial fulfillment of the requirement for the award of the MBA degree. (Mr.) (Mr.) Director Faculty in Charge Lucknow
  4. 4. 4 ABSTRACT This project entitled “Employee EngagementHDFC Bank Lucknow in aimed at studying the TQM of any organization are very important functions because these decide the most suitable management which steers the industry to its desired goals. This project was undertaken as a part of the curriculum of MBA course, which is compulsory for each student to have the training in any organization to their respective specialization, as to gain firsthand knowledge of the organization. This exposure enables the trainees to learn effective and efficient ways and means to solve the real problems faced by the organization and also to understand its dynamics.
  5. 5. 5 CONTENTS 1. Objective of study 2. Introduction 3. Company profile 4. Research Methodology 5. Finding and Data Analysis 6. Data Interpretation 7. Finding 8. Recommendation 9. Limitation 10. Conclusion 11. Bibliography 12. Annexure
  6. 6. 6 CHAPTER-1 INTRODUCTION
  7. 7. 7 INTRODUCTION Success today requires a good bit more than good attendance. Yet, multiple studies in different countries and across industries show that employees who are passionate about their jobs and the organizations in which they work are in the minority. Some of the Survey conducted by few organization revealed that approximately 19% of the employees are highly engaged The Corporate Executive Board, looking at levels of engagement across 50,000 employees around the world, placed only 11 percent in what they dubbed “true believer” category.1 Towers Perrin’s recent “Talent Report” is slightly more optimistic, finding just 17 percent of the 35,000 employees surveyed to be highly engaged. 40 to 70 percent of employees can be classified as neutral, middle of the road, or agnostic. Worse yet, an alarming 10 to 20 percent of employees are actively “disengaged”—just putting in their time or, worse yet, undermining or badmouthing their organizations and bosses. The economic impact of low engagement can be staggering. The global survey shows that 34 per cent of the employees in India are fully engaged and 13 per cent disengaged. As many as 29 percent are ‘almost engaged’. What makes these numbers especially discouraging is that, supposedly, we have evolved from the dark ages of “personnel management.” On one hand, for the past two decades we have been trying to realize the benefits of empowerment, teamwork, recognition, people development, performance management, and new leadership styles. Evidently, there is a big difference between putting in place initiatives that have the overall goal of increasing employee engagement and truly seeing the payoffs. And, on the other hand, one might easily attribute
  8. 8. 8 low engagement to persistent downsizing, which leads to an erosion of loyalty and commitment. Definition of Employee Engagement Employee engagement can be defined as an employee putting forth extra discretionary effort, as well as the likelihood of the employee being loyal and remaining with the organization over the long haul. Research shows that engaged employees: perform better, put in extra efforts to help get the job done, show a strong level of commitment to the organization, and are more motivated and optimistic about their work goals. Employers with engaged employees tend to experience low employee turnover and more impressive business outcomes. Employee engagement is more than just the current HR 'buzzword'; it is essential. In order for organizations to meet and surpass organizational objectives, employees must be engaged. Research has proven that wholly engaged employees exhibit, Higher self-motivation. Confidence to express new ideas. Higher productivity. Higher levels of customer approval and service quality. Reliability. Organizational loyalty; less employee turnover. Lower absenteeism.
  9. 9. 9 Need of Employee Engagement The general principles of employee engagement have been around for decades. During the past five years, though, there has been a surge in the popularity of employee engagement. There are four primary drivers. 1. People have become the primary source of competitive advantage. The Brookings Institute (2003) examined the primary source of market value in today’s organizations and how it has changed over time. In 1982, 62 percent of an organization’s market value came from tangible assets and 38 percent from intangible assets. Tangible assets include things like machinery, products, facilities, etc. Intangible assets, on the other hand, include factors such as brand, intellectual property, and, most important, the quality of the workforce. By 2002, 20 years later, the source of value had almost totally flipped. Almost 80 percent of market value today comes from the intangible with a scant 20 percent coming from tangible assets. As we all have heard before, products can easily be copied, a technological edge can prove fleeting, and more facilities can be built, but the quality of an organization’s talent, its passion and commitment, is nearly impossible to replicate. Engagement is the fuel that drives the value of intangible assets. 2. Retention and the war for talent. The landmark 1998 McKinsey study, The War for Talent, was among the first to talk about the potential for workforce shortages due to the aging population. The study’s authors called upon organizations to take more seriously their efforts to attract and retain talent, to assure that they would be able to survive and thrive in the future. In the late 1990s and early 2000s, the slump in the global economy quickly took the spotlight off of the anticipated talent shortage. And some predict that a portion of today’s aging workers will delay their retirements out of necessity,
  10. 10. 10 attenuating the expected talent shortage. Since 2003 the picture is once again changing, albeit not as quickly as expected. For example, the Society for Human Resources Management reported that 48 percent of the employees it polled are actively seeking new jobs. Additionally, the workforce is getting older, with many of the baby boomers hitting 60 in 2006 and ready to retire. Over and above the workforce cost of increased retirements, companies are beginning to take heed of the enormous financial costs of turnover and increasingly viewing employee engagement as an imperative for keeping their key employees— and attracting new ones—as the war for talent heats up once again. 3. Popular appeal. Remember the reengineering wave? Even those who used it as more than just a guise for massive layoffs found it painful. Six Sigma implementations are invaluable to business performance, but most companies are finding them too complex to implement well. Engagement is a different matter altogether. While it still takes patience to implement, engagement gets to the “hard stuff” by focusing on the “softer stuff.” As one manager said: “It’s about appealing to the head and the heart.” Engagement is about creating passion, it’s about focusing on what people do well, and it’s about development and recognition. Some have called employee engagement a form of positive psychology which, on the whole, is an easy pill for organizations and their employees to swallow. 4. Overwhelming impact. The human resources function has been under pressure for decades to prove that it makes a difference. While CEOs may espouse the importance of their workforces in their annual reports, when times get tough, HR is among the first to get the budget axe. Why? A lack of convincing evidence on the value of HR initiatives. HR professionals are scrambling, according to a recent Conference Board report, to prove that their activities and investments are both efficient and positively influential to
  11. 11. 11 business strategy. The positive relationship between engagement and performance (documented in hundreds of studies, with the evidence mounting every day) provides a way for HR to prove its contribution. It’s a fact: The higher the level of engagement, the higher the performance of the business. The research is not inconclusive, not limited to one country or industry, and not contained to a few hundred people—it’s overwhelming. How to Make Employees Engage Growth and development - An exciting position, with plenty of opportunity for growth, learning, and advancement for employees is always helpful in retaining employees. Support and recognition - Giving those rewards and recognition. In many instances, employee retention starts just as soon as an employee is hired. If a company sees an unusual amount of potential in a new hire, management could make them feel appreciated right off the bat. In a way, this practice can be considered a combination of recruitment and retention tools. Employee Participation in decision making is also a very effective engagement activity in the organization. Aligning effort with strategy—Engagement begins with employees’ clear understanding of what they should be doing on the job. Each employee needs a solid job description and a clear set of performance expectations. Empowerment—Empowerment is a feeling of job ownership and commitment brought about through the ability to make decisions, be responsible, be measured by results, and be recognized as a thoughtful,
  12. 12. 12 contributing human being rather than a pair of hands doing what others say. Teamwork and Collaboration - In the context of engagement, teamwork and collaboration require good relationships both within the work group and across work groups. Many organizations have strong teams with members who work well with each other. The Benefits of Employee Engagement The power of employee engagement is that it is closely connected to business results. When employees work in an environment in which they can focus their attention on their work and have a drive to do their best, organizations experience higher levels of productivity and profitability. Engaged employees look for better ways to do their work, spend less time on wasted activities, and make effective use of resources. In the end, companies deliver better products or services and have more resources left to invest in further improvements. Although it is an important consideration, high financial compensation is not the only driver of increased employee retention. As addressed previously, employees decide to stay with organizations for other reasons, such as growth and development opportunities, strong leadership, and meaningful work. Turnover costs organizations millions of dollars each year, and engagement has a proven relationship to employee retention. No one likes going into a store where the sales clerks are sullen, absent, or uncooperative. It’s easy to see why customers notice engaged employees and are more satisfied and willing to purchase again. E.g., Tom Labadie, director of training and development at CompUSA states, “When you walk into a store with high engagement scores, you can sense the positive tone. Employees whistle and smile, they approach
  13. 13. 13 customers, and the store gives off that elusive approachable feeling that customers appreciate.” Organizations with engaged employees have more satisfied customers, but it’s not just because employees have better interactions with customers. Engaged employees are more likely to improve other critical factors affecting customer satisfaction, such as responsiveness, product quality, thought leadership, innovation, etc. Finally, higher engagement translates into higher and faster revenue growth. Engaged employees are more innovative and place more emphasis on meeting customer needs. The “what can I do better or differently” attitude of engaged employees versus the “it’s not in my job description” attitude of the unengaged simply leads to better financial performance. ASSESSING ENGAGEMENT Over the past eight years, The Gallup Organization has been conducting exhaustive studies of employee engagement to try and answer these fundamental questions. One of a handful of engagement evangelists, Gallup has promoted the value of measuring employee engagement through a series of books, seminars and programmers; it has also taken the lead in identifying and managing the factors that impact engagement levels. In order to rate the engagement of a workforce, first Gallup assesses employees to determine whether they are engaged, not engaged or actively disengaged. Engaged employees: are the stars in a company. Passionate about what they do, they feel a strong connection to their company and perform at high levels every day while looking for ways to improve themselves and the company as a whole. Not engaged employees, according to Gallup, are the company zombies who show up every day and put in just enough effort to meet the basic requirements
  14. 14. 14 of their jobs. Without passion or innovation, these employees neither commit to the company’s direction, nor do they work against it. Actively disengaged employees are those who present a big problem for businesses. Negative by nature, these people are unhappy in their work and they compound their lack of productivity by sharing this unhappiness with those around them. They are the proverbial bad apples who revel in their discontent while undermining the accomplishments of others; as a result, not only do they achieve little themselves, they also prevent others from being productive too. HISTORICAL BACKGROUND OF EMPLOYEE ENGAGEMENT Over the past decade, the way in which people are managed and developed at work has come to be recognized as one of the primary factors in achieving improvement in organizational performance. This is reflected by popular idioms such as “people are our most important assets”. Back in the good old days of corporate world, things were pretty simple. Companies put people on career tracks straight out of college; they gave employees a job for life and waved them goodbye with a gold watch at retirement. The promise of the stable life as a company employee kept both morale and productivity high. Then things changed. Competition increased, margins shrank and shareholders got more demanding. Suddenly, company staff were finding the very job security they’d counted on was disappearing, and at speed. This upheaval meant companies had to find new ways to motivate their employees in order to make them more productive since, without stability, employees were looking for something else from their employers. And thus, Engagement was born.
  15. 15. 15 In itself, engagement isn’t really a new idea; owners and managers have been talking about engagement, in one form or another, for centuries… they just used different words to express it. In former times, engagement focused more on productivity and achieving results through threat of punishment or by means of reward. But common sense - and good communication - eventually won out and, today, organizations everywhere are spending serious money on all forms of employee engagement. Boiled down, it simply means ‘developing a happy and loyal workforce’. Enlightened managers now realize that any company as a whole will benefit when its employees know what’s going on and they feel part of the team. The tricky part is in defining what makes a workforce happy, and in understanding how this good will translates into company success. From the extant literature review, it is acknowledged that successful organizations share a fundamental philosophy of valuing and investing in their employees. In fact many research studies have described human resource management as a means of achieving competitive advantage. Consistent with this it is an equally important issue for the organization to retain their critical (core) employees. Most organization today continues to struggle with retention because they are relying on salary increases and bonuses to prevent turnover. Essentially more organizations are now realizing that retention is a strategic issue and continues to be a competitive advantage. The term “engagement” stems from the work of Kahn (1990) who distinguished between being engaged and disengaged at work. Putting the humanistic factors together, Beer, Specter, Lawrence, Quinn-Mills and Walton (1984) created the ‘Harvard Business School’ model of HRM which focused on people in an organization to be the key resource. In light of such critical emphasis being placed on human capital, Paula Katter has aptly noted, “Engagement is all about creating a culture where people do not feel misused, overused, underused or abused.”
  16. 16. 16 At a very basic level, employee engagement draws from the tenets of the ‘Hierarchy of Needs’ as conceptualized by Maslow, the highest stage of which is self-actualization; the pinnacle of an individual’s fulfillment of talent and potential. This theory of ‘higher order needs’ was largely overlooked in the heydays of scientific ‘assembly line’ manufacturing. EMPLOYEE ENGAGEMENT IN INDIA The recent Work Asia research study by Watson Wyatt Worldwide indicates that India has the highest percentage of highly engaged workers at 78% in Asia as compared to Japan, which has the lowest employee engagement level at 39%. Head to head with China, the engagement level of the Indian worker is 20% more than his Chinese counterpart. These are all encouraging signs - but the challenges and the opportunities ahead are manifold. The imminent US slowdown, shrinking of talent pool, slowdown in hiring, larger employee expectations are all challenges for internal communicators to cope with. The Gallup Organization describes employee engagement as the "the involvement with and enthusiasm for work". The challenges faced by organizations in India are around attrition, communication, career development and engagement while trying to keep pace with the explosive growth. Outsourcing outfits have the highest attrition rates losing staff at a rate of between 100% and 200% a year. It is widely believed that organizations spend an average of 36% of their revenues on their employees but do not have a tangible way to measure its impact. A Mercer study – ‘What’s Working’ – a series of national research on worker insights, highlights factors that make a difference to employee engagement. The survey’s 125 questions elicit views in the areas defined by Mercer’s Human Capital Strategy Model and cover training and development, work environment,
  17. 17. 17 leadership, performance management, work/life balance, communication, compensation, benefits, and engagement. The India study throws up some fascinating directions for HR and internal communication professionals. Employee engagement is no more just about the employee’s intent to leave. The employee’s commitment to the organization and motivation to contribute to the organization’s success plays a significant role. The top three drivers in India are trust in senior management, how the organization is perceived for customer service and fair pay. Surprisingly, from an Indian context, the least valued factors in the continuum were benefits, compensation and performance management. In India, having a long-term career is considered positive and stable. Frequent job changes are viewed negatively and therefore the high scores around the commitment count are in line with the mindset. Internal communication and HR professionals need to take note of the employee’s need for giving feedback and to observe action taken from this. Employees seem to be getting very little information on the organization’s vision and future plans, a cause of concern. Other areas for action include the organization’s reputation in the market – congruent to other research in this space which believes that organization’s which are socially responsible are considered better places to work. In the talent management bracket, managers fare poorly for their involvement, understanding and support as well as for merit based appraisals. In India, with a large number of global players entering the market, the talent pool has now a plethora of choices and even these multinationals are finding it tough to retain staff. The Canadian HR Reporter writes that employees want to know where their careers are heading and that is a critical component of the
  18. 18. 18 talent retention strategy organizations need to focus on. Softer styles of leadership have a better impact in India and China leaving organizations to develop or seek leaders who can fill this need. LITERATURE REVIEW Employee retention continues to remain a top priority at many organizations and one that companies increasingly view as a driver of business strategy. Business-critical knowledge can walk out the door when an employee leaves the company. While employee retention figures have long been used by companies as a measure of their performance in developing an effective organization, this view of employee retention is not only outdated, but these figures may not be comprehensive enough to truly determine the organization's effectiveness. The concept of employee retention is more complex than simply evaluating employee turnover from one year to the next. These figures of employee retention can be somewhat misleading — it isn't necessarily the number of employees an organization loses, it's the number of top-performing employees that leave the company that should be of concern. For example, management is one of the key reasons employees decide to stay or leave an organization. If there is high turnover among the management ranks, employees may also feel unstable in this ever-changing environment. Yet, on the other hand, it may not be the best business strategy to retain a manager that is disliked by employees. The business strategy of employee retention actually lies with employee engagement; retention is an outcome of engagement. What most organizations fail to realize is that employee engagement is the biggest retention factor they have control over. Engaged employees not only stay longer with the organization, they are more productive, more conscientious, make fewer errors, and take better care of customers. The business strategy of employee retention
  19. 19. 19 must incorporate methods that achieve a high level of employee engagement among the organization's top performers, not necessarily the entire workforce. The Importance of Retaining Top Performers Many organizations ponder the questions, "What should the goal be for retention?" and "What is an appropriate level for employee turnover?" Yet, in asking these questions, many organizations don't realize that there are no set answers. If, for example, an organization loses five percent of its top performers every year, the results from this turnover could be potentially devastating to the company. On the other hand, if the company is losing 20 percent of its least productive employees, this could actually be very beneficial for the organization and an opportunity to increase the strength of its workforce each year. In other words, it's not just about retention anymore — it's about retaining the very best people at each level within the organization. The key to effective retention of top performers is to determine the factors that currently do, and will, keep them engaged. The Starting Point an organization must first determine who the top performers and high potentials are within their workforce. Of the many ways this can be accomplished, some include involving management at every level to create a list of those employees who are performing at levels that exceed expectations and those who exhibit the potential to become top performers, or utilizing the results from employee performance reviews to separate those who scored the highest from those who scored the lowest. This method of gaining a clear understanding of who the top performers are within an organization is called employee segmentation. Once an organization has segmented its workforce, it can then start to measure retention among its highest potential and highest rated, or most productive, employees. By viewing each segment separately, organizations are creating a more appropriate
  20. 20. 20 benchmark to measure employee retention, i.e., is the organization retaining or losing a high percentage of its best people? Understanding Employee Engagement Employee engagement can be defined as an employee putting forth extra discretionary effort, as well as the likelihood of the employee being loyal and remaining with the organization over the long haul. Research shows that engaged employees: perform better, put in extra efforts to help get the job done, show a strong level of commitment to the organization, and are more motivated and optimistic about their work goals. Employers with engaged employees tend to experience low employee turnover and more impressive business outcomes. Employee engagement is more than just the current HR 'buzzword'; it is essential. In order for organizations to meet and surpass organizational objectives, employees must be engaged. Research has proven that wholly engaged employees exhibit, Higher self-motivation. Confidence to express new ideas. Higher productivity. Higher levels of customer approval and service quality. Reliability. Organizational loyalty; less employee turnover. Lower absenteeism. Current studies show that organizations are focusing on the meaning of employee engagement and how to make employees more engaged. Employees
  21. 21. 21 feel engaged when they find personal meaning and motivation in their work, receive positive interpersonal support, and operate in an efficient work environment. What brought engagement to the forefront and why is everyone interested in it? Most likely, the tight economy has refocused attention on maximizing employee output and making the most of organizational resources. When organizations focus attention on their people, they are making an investment in their most important resource. You can cut all the costs you want, but if you neglect your people, cutting costs won’t make much of a difference. Engagement is all about getting employees to “give it their all.” Some of the most successful organizations are known for their unique work environments in which employees are motivated to do their very best. These great places to work have been recognized in such lists as Fortune’s 100 Best Companies to Work For. The concept of engagement is a natural evolution of past research on high- involvement, empowerment, job motivation, organizational commitment, and trust. All of these research streams focus on the perceptions and attitudes of employees about the work environment. In some ways, there are variations on the same fundamental issue. What predicts employees “giving their all?” Obviously, all organizations want their employees to be engaged in their work.
  22. 22. 22 Hierarchy of Engagement Employee Engagement at Each Level In addition, employee segmentation is an important method to utilize when evaluating employee engagement at each level. For instance, the factors that engage the most productive employees in an organization may not be the same as the factors that engage the least productive employees. Those employees who receive the highest rankings on their performance reviews may tend to express higher levels of job satisfaction when they are presented with challenging opportunities that allow them to grow and learn. Those that receive the lowest rankings might be more focused on issues surrounding work/life balance and job security. While some factors, such as good communication, are important among all employees, the attempt to focus on the full spectrum of factors that engage the entire workforce may cause an organization to omit some of the factors that are the most important to the company's most productive people.
  23. 23. 23 Employee Satisfaction Does Not Equal Engagement While organizations may be aware "through the grapevine" that employees are unsatisfied, it's the reasons for the dissatisfaction that elude them. While employee satisfaction is important, it's not the end game — it is only one piece of employee engagement. Satisfaction is imperative in that, for those individuals who are top performers, satisfaction may be derived from their achievement orientation, their ambition, or their sense of responsibility. On the other hand, the attempt to satisfy an under-performer who will only be content with a lightened workload may not be a worthy cause. Again, the focus is on ensuring that those individuals who have been identified as top performers and high potentials are engaged in the organization. As stated, employee engagement incorporates employee satisfaction, but also includes the essential elements of pride, commitment and loyalty in the organization. Engaged employees aren't concerned with meeting the minimum requirements to complete a task, they are focused on what they can do to better the company. Essentially, they take ownership in the company despite whether or not they actually own a share of stock. Drivers of engagement A two-way relationship between the employer and employee The importance of the individual being able to align themselves to the products, Services and values of the organization The ability of the organization to communicate its vision, strategy, objectives and values to its staff so that they are clearly understood Management give staff sufficient ‘elbow room’ and autonomy to let them fulfill their potential
  24. 24. 24 The employer is highly effective at engaging in two-way communication with its staff, in particular encouraging upward communication. Lastly, that management from the top to the bottom of the organization is ‘Committed leaders’ and that the key role of the immediate line Manager/supervisor is recognized as one of the most important conduits to achieving effective employee engagement. Elements of Engagement Some researchers conclude that personal impact, focused work, and interpersonal harmony comprise engagement. Each of these three components has sub-components that further define the meaning of engagement. Personal Impact-Employees feel more engaged when they are able to make a unique contribution, experience empowerment, and have opportunities for personal growth. Past research concurs that issues such as the ability to impact
  25. 25. 25 the work environment and making meaningful choices in the workplace are critical components of employee empowerment. Some research on retaining talent found that the perception of meaningful work is one of the most influential factors determining employees’ willingness to stay with the organization. Focused Work-Employees feel more engaged when they have clear direction, performance accountability, and an efficient work environment. Aside from the personal drive and motivation to make a contribution, employees need to understand where to focus their efforts. Without a clear strategy and direction from senior leadership, employees will waste their time on the activities that do not make a difference for the organization’s success. Additionally, even when direction is in place, employees must receive feedback to ensure that they are on track and being held accountable for their progress. In particular, employees need to feel that low performance is not acceptable and that there are consequences for poor performance. Finally, employees want to work in an environment that is efficient in terms of its time, resources, and budget. Employees lose faith in the organization when they see excessive waste. For example, employees become frustrated when they are asked to operate without the necessary resources or waste time in unnecessary meetings. Interpersonal Harmony-Employees feel more engaged when they work in a safe and cooperative environment. By safety, we mean that employee trust one another and quickly resolve conflicts when they arise. Employees want to be able to rely on each other and focus their attention on the tasks that really matter. Conflict wastes time and energy and needs to be dealt with quickly. Some researchers also find that trust and interpersonal harmony is a fundamental underlying principle in the best organizations. Employees also need to cooperate to get the job done. Partnerships across departments and
  26. 26. 26 within the work group ensure that employees stay informed and get the support they need to do their jobs. Making Use of Engagement Measurement of employee engagement can have many applications in the organization. Earlier, it is mentioned that engagement could serve as a general index of HR effectiveness in an HR scorecard. Also, engagement measures serve as an easy way to benchmark the work climate against other organizations. Other uses include: Needs Analysis-The fundamental issues measured in engagement provide a quick index of what leaders and HR need to do to make things better. In addition, items in engagement surveys tend to be very actionable. This means that leaders or others in the organization can take action that will affect the score on a single item. Evaluation-Many learning and performance interventions are designed to impact some aspect of engagement. When an engagement measure is used as a pre-implementation baseline, the impact of the intervention can be gauged by measuring post-implementation changes in engagement. Climate Survey-Some organizations like to use engagement measures as simple indexes of the workplace culture. While more extensive surveys are valuable, sometimes it’s easier to focus attention on a few simple and proven factors. Leader or Department Feedback-Depending on the demographic information collected when the engagement measure is implemented, one can create breakout reports by department or leader. This means departments and leaders can gain a better understanding of how engagement in their groups differs from
  27. 27. 27 the rest of the organization. This information can be used to create development plans or plans for larger-scale interventions. Measuring the Impact of Employee Engagement
  28. 28. 28 HSBC GLOBAL RESOURCING The companies try to make a match of it by positioning their organizations as a ‘fun workplace’ to engage employees. Speaking to the youth in the language they understand, companies organize ‘dress down’ days based on festival themes, distribute soft sports equipment which can be used inside the processing floor and organize regular trips to movies as well as dining out. Acknowledging that recognizing employees for a job well done is a key retention tool, HSBC Global Resourcing has regular rewards and recognition programmers where outstanding agents get to bask in the glory of their achievements. Leadership development is taken very seriously with first line managers getting to hone their skills in various tools required to lead a team successfully. Empowerment is a key ingredient in engaging employees and ensuring they stay that way. On cue almost all BPO outfits organize regular focus group discussions and interaction with the senior management to ensure everyone is heard. Internal communication channels like intranets and message boards are liberally used to reach out and branded goodies are regularly distributed to foster a sense of belonging Sun Microsystems At Sun the virtual nature is partly due to flexible working practices. While flexible working arrangements are a plus for many employees and reduces facility costs for the organization, that flexibility comes with some downsides like; isolation, loneliness and an increase in personal distractions. Isolation, especially when paired with the demands of work in an increasingly competitive environment, can wear down the sense of connection, commitment and excitement about any job. Thus a critical challenge for managers of virtual teams is how to keep remote employees engaged.
  29. 29. 29 At Sun, the concept of employee engagement starts right from the top: o The CEO interacts with Sun employees through WSUN, a forum on Sun’s intranet. He uses this to sustain an active an ongoing dialogue on the corporate goals and direction. Through this interactive on-line resource he also solicits their feedback and opinions o Other senior management members engages with employees on technology directions through his personal blog o Business Unit Heads and Executive Vice-presidents have a target of holding six ‘town halls’ with employees every year across the globe o At the country level, Senior Management is tasked with constantly engaging employees through various forums, communication media and events to build excitement and passion including some that also reach out to the employees’ families. Standard Chartered Group They believe in the importance of building a work environment where every employee feels highly engaged to apply their individual talents to deliver sustainable business performance. They have been measuring employee engagement worldwide since 2000 with a voluntary response rate consistently over 95%. In 2007, the survey covered all 57 countries with 95% of employees participating voluntarily. This is a significant achievement and a clear indication that employees are committed to improving individual and team performance. They have a continuous rise in both the number of engaged employees and teams since the survey was introduced. We provide team-specific data to each manager, which they use to discuss and develop action plans with their teams to increase engagement
  30. 30. 30 CHAPTER-2 COMPANY PROFILE
  31. 31. 31 COMPANY PROFILE HDFC BANK LTD was incorporated in August 1994 in the name of 'HDFC Bank Limited’, with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. If ever there was a man with a mission it was Hasmukhbhai Parekh, Founder and Chairman- Emeritus, of HDFC Group. HDFC BANK LTD was amongst the first to set up a bank in the private sector. The bank was incorporated on 30th August 1994 in the name of ‘HDFC Bank Limited’, with its registered office in Mumbai. It commenced operations as a Scheduled Commercial Bank on 16th January 1995. The bank has grown consistently and is now amongst the leading players in the industry . HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment In a milestone transaction in the Indian banking industry, Times Bank was merged with HDFC Bank Ltd., effective February 26, 2000.
  32. 32. 32 MISSION I. World Class Indian Bank II. Benchmarking against international standards. III. To build sound customer franchises across distinct businesses IV. Best practices in terms of product offerings, technology, service levels, risk management and audit & compliance VISION STATEMENT OF HDFC BANK The HDFC Bank is committed to maintain the highest level of ethical standards, professional integrity and regulatory compliance. HDFC Bank’s business philosophy is based on four core values such as:- 1. Operational excellence. 2. Customer Focus. 3. Product leadership. 4. People. The objective of the HDFC Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one-step window for all his/her requirements. The HDFC Bank plus and the investment advisory services programs have been designed keeping in mind needs of customers who seeks distinct financial solutions, information and advice on various investment avenues. BUSINESS STRATEGY I. Increasing market share in India’s expanding banking II. Delivering high quality customer service III. Maintaining current high standards for asset quality through disciplined credit risk management IV. Develop innovative products and services that attract targeted customers and address inefficiencies in the Indian financial sector.
  33. 33. 33 BOARD OF DIRECTORS PERSON DESIGNATION Mr. Jagdish Kapoor Vice President Mr. Aditya Puri Managing Director Mr. Paresh Sukthankar Executive Director Mr. Harish Engineer Executive Director Mr. Keki M. Mistry Director Mr. Ashim Samanta Director Mr. Arvind Pande Director Mrs. Renu Karnad Director Mr. C M Vasudev Director Mr. Gautam Divan Director Dr. Pandit Palande Director Product and Services Banking should be effortless. With HDFC Bank, the efforts are rewarding. No matter what a customer's need and occupational status, we have a range of solutions that are second to none. Whether you're employed in a company and need a simple Savings account or run your own business and require a robust banking partner, HDFC Bank not only has the perfect solution for you, but also can recommend products that can augment your planning for the future. It includes these services: -
  34. 34. 34 Saving account. Current account. Fix deposits. Debate account. Safe deposits lockers. Savings Accounts These accounts are primarily meant to inculcate a sense of saving for the future, accumulating funds over a period of time. Whatever person’s occupation, bank have confident that person will find the perfect banking solution. There some saving accounts like: - Regular Saving Account: An easy-to-operate savings account that allows you to issue cheques, draw Demand Drafts and withdraw cash. Check up on your balances from the comfort of your home or office through Net Banking, Phone Banking and Mobile Banking. If you need money urgently then you can take money from the ATM machine. There are 1977 ATM centers across the country.
  35. 35. 35 Saving plus Account Introducing the best banking option for you with HDFC Bank Savings plus Account. Now you can get access to some of the finest banking facilities with HDFC Bank's Savings plus Account. All you have to do is maintain an Average Quarterly Balance of Rs. 10,000/-. Saving Max Account Welcome to a world of convenience. Presenting Savings Max account, loaded with maximum benefits to make your banking experience a pleasure. By maintaining an average quarterly balance of just Rs. 25,000/- you get a host of premium services from HDFC Bank absolutely free. Senior Citizen Account HDFC Bank appreciates your needs and endeavors, which is why, they present an account especially dedicated to customer, which like a dutiful child will help you fulfill your needs in the bestmanner possible. No frills Account In an effort to make banking simpler and more accessible for customers, bank has introduced the 'No Frills' Savings Account, which offers customer all the basic banking facilities. Customer can even avail of services like Net Banking, Mobile banking free of cost. In this customer can put Zero Initial Pay-in and a Zero Balance account Institutional saving accounts A specially designed account that offers twin benefits of a savings as well as a current account. Customer’s funds continue to earn you interest while he enjoys
  36. 36. 36 hassle-free banking & a host of other features. All this and more in a Zero. Balance account. Salary Accounts In this account customer can get salary from where he/she doing such job and organization or company at where the customer of the bank in doing job deposit their salary in to the salary account a person can get salary. There are various kinds of saving accounts in the HDFC Bank like: -  Pay roll account.  Classic salary account.  Regular salary account.  Premium salary account.  Defense salary account.  No frills salary account.  Reimbursement salary account.  Kid’s advantage account Start saving for your child today and secure his/her future a sentence tells by the HDFC bank. Open a Savings Account and transfer money every month into customer’s Kids Advantage Account and watch the savings grow as customer’s
  37. 37. 37 child grows. The accumulated savings in the Kids Advantage Account can over the years help in meeting customer child's needs. Main features and benefits of this account are as follow:- Current accounts HDFC Bank Current Account gives the power of inter-city banking with a single account and access to more than cities. From special cheques that get treated at par with local ones in any city where branch, faster collection of outstation cheques (payable at branch locations), free account to account funds transfer between HDFC Bank accounts to Free inter-city clearing of up to 100 lakhs per month, bank’s priority services have become the benchmark for banking efficiency. Now, with an HDFC Bank Current Account, experience the freedom of multi- city banking. Person can have the power of multi-location access to his account from any of our 761 branches in 327 cities. Not only that, he can do most of his banking transactions from the comfort of his office or home without stepping out. There are various kinds of current account in this bank like: - Plus current account HDFC Bank plus Current Account gives the power of inter-city banking with a single account and access to more than cities. Plus Current Account requires maintaining an average quarterly balance of Rs. 100,000. Trade current account In today's changing business requirements, you need to transfer funds across cities, and time is of the essence. HDFC Bank Trade Current Account gives power of inter-city banking with a single account.
  38. 38. 38 From special cheques that get treated at par with local ones in any city where bank have a branch, to free account to account funds transfer between HDFC Bank accounts, to free inter-city clearing of up to 50 lakhs per month, bank’s priority services have become the benchmark for banking efficiency. Trade Current Account requires maintaining an average quarterly balance of Rs. 40,000. Premium current account Business needs a partner who can manage finances while concentrate on growing business. Form this account customer can avail benefits of inter-city banking account that requires an average quarterly balance of only Rs. 25,000, offers Payable-At-Par cheque book facility & FREE inter-city clearing transactions across our network up to Rs.25 Lacks per month. A Current Account with the benefits of accessing account from a large network of branches, and through direct access channels - the phone, mobile, Internet and through the ATM. Regularcurrent account A Current account is ideal for carrying out day-to-day business transactions. With the HDFC Bank Regular Current Account, customer can access account anytime, anywhere, pay using payable at par cheques or deposit cheque at any HDFC bank branch. It also facilitates FREE NEFT transactions & FREE RTGS collections for faster collections in account. Regular Current Account requires maintaining an average quarterly balance of only Rs. 10,000. With a vast network of branches in cities all over the country, and access to a multitude of ATM's, customer can keep track of all transactions anytime.
  39. 39. 39 Reimbursement Current Account No more paperwork, no more receipts to keep track of - a hassle-free account that allows deposit the reimbursements receive from company/organization on a monthly basis. To open this account a person has to follow these processes: Procure an Account Opening Document (AOD) from HDFC Bank. (If person has just joined, first request to company to open up a Salary Account for particular person). Mention Salary Account number and Debit Card number on the AOD so that Debit card can be linked to both, Salary Account as well as new Reimbursement Account. Request company to directly credit cash payments to the Reimbursement Account. RFC – Domestic Account Full name of this account is Resident foreign currency account. Have you accumulated foreign currency from travelling abroad frequently? Received gifts from relatives in foreign currency? Or earned it by any other means as approved by the Reserve Bank of India? If so, open Resident Foreign Currency Domestic Account and manage foreign currency efficiently. Person can choose to set up your account either in US Dollar, Great Britain Pound or Euro. To open this accounts a person as to follow this process: -
  40. 40. 40 Choose the currency in which person wish to operate. Open account with an initial amount as per the following-US Dollar = 250 Great Britain Pound = 200 Euro = 250 and maintain an Average Quarterly Balance of the same amount. Flexi current account Tired of static transaction limits during peak seasons? HDFC Bank Flexi Current Account is the answer to changing banking needs during peak seasons. With HDFC Bank Flexi Current Account Cash Deposit and Anywhere Transaction limits are a multiple of the balance you maintain in Current Account. So, during peak seasons, customer get the benefit of higher transaction limits due to the higher average balances maintained in account. What’s more, during lean seasons, person need not worry about maintaining huge balances to enjoy high transaction limits, which person anyway may not need. Flexi Current Account requires maintaining a minimum Average Monthly Balance (AMB) of just Rs. 75,000. Apex current account The top position is always the desirable position. With the Apex current account, take business to a new high. On maintaining an average quarterly balance of Rs. 10 lakhs, this account makes sure person make the most of every business opportunities coming his way. Unlimited, free, anywhere Banking experience at the APEX is reserved for person who joints this. Max current account Maximum benefits and minimum hassles for customer with Max Current Account with a Rs. 5 lakhs average quarterly balance requirement, bank present to world of privileges that helps business expand and grow. Features like maximum free transaction limits including other beneficial features on this current account truly enhances business potential to the Maximum.
  41. 41. 41 Fix deposits service Long-term investments form the chunk of everybody's future plans. An alternative to simply applying for loans, fixed deposits allow to borrow from own funds for a limited period, thus fulfilling needs as well as keeping savings secure. People can invest his/her money into either in security market or gold or mutual fund or into a fix deposits. People always go to that way where he/she can get more benefits and minimum risks. So, for this purpose he has a better chance to deposits money in to the fix deposit. If people believe in long-term investments and wish to earn higher interests on his/her savings, now is the time to invest money in HDFC bank Fixed Deposit. Get up to 9.75% on HDFC Bank Fixed Deposit with an additional 0.50% for Senior Citizens. What's more NO PENALTY if withdraw part of the FD in times of need. Flexibility, Security and High Returns all bundled into one offering. Regularfix deposit As per the rules and regulation of the bank a person can deposit their money in to a fix deposit in the bank and can get the benefits of these facilities. . Five year tax saving fix deposit In 2006, it was announced for the first time that Bank fixed deposits booked by an Individual/HUF for 5 years & up to Rs. 1,00,000/- will be allowed exemption under Sec 80C of the Income Tax Act,1961 subject to necessary declarations taken from the Customer.
  42. 42. 42 Super saver facility Customer can enjoy a high rate of interest along with the liquidity of a Savings Account by opting for a Super Saver Facility on his or her savings account. Avail of an overdraft facility of up to 75% of the value of his or her Fixed Deposit. Sweep-infacility Do you wish to avoid taking overdrafts, and still take advantage of your Fixed Deposits? Then what you need is a Sweep-In Facility on savings account. Link Fixed Deposit to Savings or Current Account and use it to fall back on in case of emergencies. A deficit in Savings or Current Account is taken care of by using up an exact value from Fixed Deposit. Since deposits are broken down in units of Re 1/-, customer will lose interest only for the actual amount that has been withdrawn. . Demat account service Nowadays share market is becoming is the main occupation of the person. So to avoid faulty processes demat account is really most important for the share market and for the safety of shares it is most important. HDFC BANK is one of the leading Depository Participant (DP) in the country with over 8 Lac demat accounts. HDFC Bank Demat services offers a secure and convenient way to keep track of securities and investments, over a period of time, without the hassle of handling physical documents that get mutilated or lost in transit.
  43. 43. 43 HDFC BANK is Depository participant both with -National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL). Safe deposit locker A Safe Deposit Locker with HDFC Bank is the solution to person’s fear. Located at select branches in cities all over the country, bank’s lockers ensure the safe keeping of valuables. o Eligibility An individual (not minor), firms, limited company, associations, clubs, trusts, societies, etc may hire a locker. Advantages of safe deposit locker in HDFC bank o Wide Availability Lockers available in various sizes. i.e. Small, Medium, Large and Extra Large with varying rents. Lockers are rented out for a minimum period of one year. Rent is payable in advance. No deposits are required to avail a locker. Just open an account and get the locker facility. There is a nominal annual charge, which depends on the size of the locker and the centre in which the branch is located. o Nomination for Safe Deposit Locker The Lockers and their contents can be nominated to people near and dear to you.
  44. 44. 44 Nomination facility is available to individual hirer of Safe Deposit Locker. In the case of a sole hirer of a safe deposit locker, nomination can be made in favor of only one individual. Where the safe deposit locker is hired in the name of a minor, the nomination shall be made by a person lawfully entitled to act on behalf of the minor. o Terms & Conditions For obtaining a Locker at HDFC Bank you must be an account holder with Bank. o Lockers can be allotted individually as well as jointly. The Locker holder is permitted to add or delete names from the list of persons who can operate the Locker and can have access to it. Loss of Key is to be immediately informed to the concerned Branch. LOAN SERVICES In today’s competitive world everything happens only with the help of money or through the banks every personneeds money. But some time a person has not cash on hand at that time he needs lone either from any friend or from any financial institute. Lone does not mean that only lower class person needs it but also upper class person it is needed. As per the requirement of the every person there are much type of loans are there in the HDFC bank. Personalloan A person has so many dreams but some time due to scarcity of money a dream can’t be satisfy. So, here one solution for that person this is personal loan. From this he/she can fulfill their needs or requirement. It can be anything either a
  45. 45. 45 dream of vacation or son/daughter’s admission to college or any wedding, so personal loan can be helpful in this entire requirement. As person ordered in the hotel for tea or coffee and it is immediately came fast, same over here any person want to get a personal loan with the nominal documents he can get the loan. Home loan HDFC Bank brings, HDFC home loans to doorstep. With over 30 years of experience, a dedicated team of experts and a complete package to meet all housing finance needs, HDFC Home Loans, help people realize dream. Vehicles loan Nowadays the life is being so fast, time value is becoming more important so to reach at the destination of any business related occasion or for a boy to reach college or anywhere at the fix time there are so many requirement of vehicles. But every people have no capacity to purchase vehicles with cash so for that here in the HDFC bank vehicles loan is available. There are many types of vehicles loan. Types of vehicles loan: o Two wheeler loans. o New car loan. o Used car loan. o Tractor loan (for agree culture business). o Commercial vehicle loan. So, as per the requirement of the person there are these types of loans are available this are at the chip rate and Hassel free from more documentation and
  46. 46. 46 other procedure. And commercial businessman can get the benefits of the commercial vehicles loans. Thus as per the need of different people there are vehicle loans available. And also terms and condition are different as per the requirement. Express loan plus Bank offer Express Loans Plus at person Doorstep to help fulfill all his/her needs. The procedure is simple, documentation is minimal and approval is quick. It is helpful to person in repairing of house, School admission or also in the family holiday. Gold loan With HDFC Bank's Gold Loan, person can get an instant loan against gold jewelry and ornaments. The procedure is simple, documentation is minimal and approval is quick. A person can get 70% loan on the value of the gold jewelry and ornaments. There is also availability of the overdraft on the gold jewelry. With this a customer can get free additional services like free personalized cheque book, free international debit card, and free net banking phone banking services. Educationalloan Nowadays important of education becoming very high. As its important becoming high it is becoming costly. So in the higher education some time people cannot effort a high price at a same time. So, there is education loan is also available for the student. A person can get loan up to 10 lakhs to study in India and 20 lakhs if he wants to study in abroad. Loan available up to tenure of 7 years including moratorium period.
  47. 47. 47 Loans disbursed directly to the educational institution. It is released as per fee schedules of institutes. Exclusive Telegraphic Transfer facility available for courses at abroad. Loans available for short duration/ job oriented courses also. Loan againstsecurity With HDFC Bank's Loan against Securities, person can get an overdraft against securities like Equity Shares, Mutual Fund Units(Equity, Debt, FMPs), Gold Exchange Traded Fund(ETF),NABARD's Bhavishya Nirman Bonds, Policies issued by LIC & Select Private Insurance Companies, NSC, KVP, UTI Bonds (ARS & US64 Bonds)and Gold Deposit Certificates, while still retaining ownership. And the best part is that he can continue to enjoy all his shareholder benefits such as rights, dividends and bonuses Loan available to NRIs against Shares, Mutual Funds (equity, Debt, FMPs), US64 Bonds, Insurance Policies, NSC, and KVP. Loan againstproperty HDFC Bank brings Loan against Property (LAP). Person can now take a loan against residential or commercial property, to expand his business, plan a dream wedding, and fund his child's education and much more. He can depend on bank to meet all his business requirements even to purchase a new shop or office for business. Loan to purchase Commercial Property (LCP) is a specially designed product to help person expand his business without reducing the capital from his business. These are loans services providing by HDFC bank which are very hassle free and really benefits for most of customer and most of customer are satisfied by
  48. 48. 48 the loan services providing by the bank. CARD SERVICES In today’s competitive and fast time card services providing by the banks are really very important to every person and every business needs or to take meal in to the hotel or to purchase jewelry from the jewelry shops cards are playing good role in the banking sectors. Bank ranges of Cards help to meet financial objectives. So whether persons are looking to add to his buying power, conducting cashless shopping, or budgeting his expenditure, he will find a card that suits him. Credit cards A person wants many things like, a trip to Bali, a diamond ring for wife's dreams. Some dreams can't wait. If there's something person has always wanted. If a person wanted to fulfill his wants he can get benefits from the HDFC bank’s credit cards facilities.  Different types of credit o Classic cards o Silver Credit Card. o Value plus Credit Card. o Health Plus Credit Card. o Premium Cards: o Gold Credit Card
  49. 49. 49 o Titanium Credit Card o Woman's Gold Card o Platinum Plus Credit Card o Visa Signature Credit Card o World MasterCard o Commercial Cards o Corporate Credit Card Debit card HDFC Bank Debit Cards give personcomplete and instant access to the money in his accounts without the risk or hassle of carrying cash. Types of debit card: -  Classic card  Easy shop international Debit card.  Premium card  Easy shop gold Debit card.  Specialized card  Easy Shop International Business Debit Card.  Easy Shop Woman's Advantage Debit Card.  Easy Shop NRO Debit Card.  Kisan Card.
  50. 50. 50 Prepaid card Besides offering convenience, Prepaid Cards have been tailored to answer travel and gifting needs. ForexPlus Cards Prepaid Travel Card. Gift plus Cards Prepaid Gift Card. Food Plus Cards Prepaid Food Plus card. Money Plus Card The CorporatePayment card INVESMENT AND INSURANCE SERVICE Nowadays a ward investment is becoming more popular. Personinvest their money in to various schemes or in to the gold or share market etc. but some time he is in to the difficult situation, for that bank help personinvest wisely through financial and investment services. Types of investment: -  Mutual Funds Invest through the Mutual Fund route to meet varied investment objectives.  Insurance
  51. 51. 51 Traditional Plans Unit Linked Plans HDFC children's PLAN. HDFC Unit Linked Young Star Plus II. HDFC Money Back Plan. HDFC Unit Linked Young Star Suvidha. HDFC Savings Assurance Plan. HDFC Unit Linked Young Star Suvidha Plus HDFC Assurance Plan. HDFC Unit Linked Pension. HDFC Term Assurance Plan. HDFC Unit Linked Pension Plus. HDFC Loan Cover Term Assurance Plan. HDFC Unit Linked Endowment Plus II. HDFC Endowment Assurance Plan. HDFC Unit Linked Endowment Suvidha. HDFC Single Premium Whole of Life Insurance HDFC Unit Linked Endowment Suvidha HDFC Unit Linked Enhanced Life Protection
  52. 52. 52 GENERAL AND HEALTH INSURANCE Complete protection for business, health, travel & more.  Bonds A secure investment avenue giving stable returns with tax benefits.  Financial Planning Start Now Plan investments to meet financial goals.  Knowledge Centre Profit from research and make informed investment decisions.  Equities & Derivatives Leverage bank’s vast information repository and transact online.  Mudra Gold Bar Buy 24 Karat gold bars made in Switzerland and certified by Assay.
  53. 53. 53 FOREX AND TRADE ERVICE Nowadays businesses becoming worldwide e.g. India to America but main problems are about monitory transaction because at every country the currency become changed so for that banks are playing a very important for the businesses. If people need to deal in foreign currency and keep tabs on exchange rates every now and then, transfer monies to India, make payments etc., HDFC Bank has a range of products and services that people can choose from to transact smoothly, efficiently and in a timely manner. Bank offering following Foreign Exchange Products and Services. Foreign Exchange and Trade Services The following are different methods of transacting in Foreign Exchange and remitting money. o Travelers Cheques. o Foreign Currency Cash. o Foreign Currency Drafts. o Cheque Deposits. o Remittances. o Cash to Master. o Trade Services. o Forex Services Branch Locator. Important guidelines and schedules All Foreign Exchange transactions are conducted by strictly adhering to RBI guidelines. Depending on the nature of
  54. 54. 54 transaction or point of travel, people will need to understand his Foreign Exchange limits. RBI Guidelines. Forex Limits. Non HDFC Bank Account Holders. FAQs PAYMENT SERVICE Nowadays life of a person become very stressful and he/she becoming busy with their own business, but they have to payment for something so for that reason bank’s payment services become started. With HDFC Bank's payment services, person can bid goodbye to queues and paper work. Bank’s range of payment options make it easy for pay for a variety of utilities and services. Verified By Visa Do you want to be worry free for your online purchases? Now you can shop securely online with your existing Visa Debit/Credit card. Net Safe Now shop online without revealing your HDFC Bank Credit Card number. What more, you can now use your HDFC Bank Debit Card also for online purchases. MerchantServices Accept all Visa, MasterCard, credit and Debit cards at your outlets through state of the art POS Machines or through your website and experience hassle free payment acceptance.
  55. 55. 55 Prepaid Mobile Refill If you are an HDFC Bank Account holder, you can now recharge your Prepaid Mobile Phone with this service. Bill Pay Pay your telephone, electricity and mobile phone bills at your convenience. Through the Internet, ATMs, your mobile phone and telephone - with Bill Pay, our comprehensive bill payments solution. Visa Bill Pay Pay your utility bills from the comfort of your home! Pay using your HDFC Bank Visa credit card and forget long queue and late payments forever Pay Now Use your HDFC Bank Credit Card to pay your utility bills online, make subscriptions and donations; no registration required. Enjoy credit free period and reward points as per your credit card features. Insta Pay Pay your bills, make donations and subscribeto magazines without going through the hassles of any registration. DirectPay Shop or Pay bills online without cash or card. Debit your accountdirectly with our Direct Pay service! Visa Money Transfer Transfer funds to any Visa Card (debit or credit) within India at your own convenience through HDFC Bank's Net Banking facility.
  56. 56. 56 E-Monies National Electronic Funds Transfer Transfer funds from your account to other Bank accounts across India - FREE of cost. Online Payment of Excise & Service Tax Make your Excise and Service Tax payments at your own convenience through HDFC Bank's Net Banking facility. Religious Offerings Now donate to your favorite temple easily and securely using HDFC BANK's Net Banking. IMPERIA/PREFERRED/CLASSIC BANKING As a special customer bank providing a TAJ to customer with name imperia/preferred customer. For that bank provide a special service to their customer. HDFC Bank's preferred/imperia Programmed is the royal decree that enhances the exclusivity that you are accustomed to. It makes you feel special at every step, pampering with services those others can only dream about. This service goes beyond the obvious, rises above the expected, so that the whole world can see, that even today, the grandeur and magnificence of royalty is alive and well. Thus as retail banking service bank providing really good and beneficial services to their customer and as family member they are providing good services to every customer either they are came business related or anything. So for this reason HDFC bank playing a good role in the customer’s life for their monitory transaction.
  57. 57. 57 NRI BANKING With a view to attract the savings and other remittance into India through banking channels from the person of Indian Nationality / Origin who are residing abroad and bolster the balance of payment position, the Government of India introduced in 1970 Non-Resident(External) Account Rules which are governed by the Exchange Control Regulations. The funds held in Non-Resident (External) Accounts (NRE Accounts) qualify for certain benefits like exemptions from taxes in India, free repatriations facilities, etc. Deposit types NRI-Banking facilitates the NRI customer to open the following account types. NRE (Non Resident External Accounts) It can be in the form of Savings, Current or fixed deposits in Indian rupees. The funds in this account are fully repairable. NRO (Non Resident Ordinary Accounts) It can be in the form of Savings, Current or Fixed Deposits in Indian Rupees. The funds in this account are not repairable (only interest accrued is repairable). FCNR (Foreign Currency Non Resident Accounts) It can be in the form of fixed Deposits only, in the five major currencies, namely US Dollars, GBP, DM, Euro, and Japanese Yen. The funds in this
  58. 58. 58 account are fully repairable. WHOLESALE BANKING Wholesale banking is the provision of services by banks to the like of large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses and institutional customers, such as pension funds and government entities/agencies. Also included is banking services offered to other financial institutions. In essence, wholesale banking services usually involve high value transactions. Wholesale banking compares with retail banking, which is the provision of banking services to individuals Wholesale banking services. Corporate service Corporate Banking reflects HDFC Bank's strengths in providing our corporate clients in India, a wide array of commercial, transactional and electronic banking products. We achieve this through innovative product development and a well-integrated approach to relationship management. Large Corporate Supply Chain Partners Agricultural Lending Small & medium term enterprises HDFC Bank understands how much of hard work goes into establishing a successful SME. Bank also understands that business is anything but "small" and as demanding as ever. And as business expands and enters new territories and markets, person need to keep pace with the growing requests that come in, which may lead to purchasing new, or updating existing plant and equipment, or
  59. 59. 59 employing new staff to cope with the demand. That's why HDFC Bank has assembled products, services, resources and expert advice to help ensure that your business excels. The following links will help identify individual needs. o Funded Services. o Non-Funded Services. o Specialized Services. o Value Added Services. o Internet Banking. o Financial institutions & trusts o Banks. o Financial Institutions. o Mutual Funds. o StockBrokers. o Insurance Companies. o Commodity Businesses. o Trusts. Government sector HDFC Bank acts as an active medium between the government and the customers by means of various services. These services include: Tax Collection wherein customers can directly pay their taxes like Direct taxes, Indirect taxes and Sales Tax collections at their local HDFC Bank.
  60. 60. 60 E-Ticketing - Helps the customer by providing him a direct access to book a Railway Ticket online and get it home delivered. Opening of L/C's is done by the bank on behalf of Government of India, Mints and Presses, thus facilitating imports for the Government. Collection of levies and taxes on behalf of Municipal Corporations i.e. Kalyan - Dombivli Municipal Corporation, is undertaken by the Bank. Collection of stamp duty is done via franking mode in the states of Maharashtra & Gujarat. The Stamp Duty Franking Facility is available at following branches in Maharashtra Fort, Chembur, Lower Parel, Mira Road, Thane (Talao Pali), Panvel, Ratnagiri, Pune(FC Road), Kolhapur, Nagpur, Pimpri. The Stamp Duty Franking Facility is available at following branches in Gujarat Disbursement of Pension to retired Employees of Central Govt and Defense is directly done by HDFC Bank along with the disbursement of pension to the members of EPFO (Employees Provident Fund Organization). Electronic Collection of fees on behalf of DGFT is done by the bank too.
  61. 61. 61 OBJECTIVE OF THE STUDY
  62. 62. 62 OBJECTIVES OF STUDY 1 PRIMARY OBJECTIVE:  To open new savings accounts by convincing customers and to promote the benefits of those which are provided by the bank.  To find the different way of convincing customers.  To study brand image of the bank.  To increase the business of the bank. SECONDARY OBJECTIVES:  To determine the need and purpose of a sales executive.  To understand the deciding criteria for people to become sales executive.  To offer suggestions based upon the findings.
  63. 63. 63 SCOPE OF THE STUDY
  64. 64. 64 SCOPE OF THE STUDY : The same problem was with the all other branches of HDFC Bank even out of the Lucknow city. The management is conducting the same research on a big ground while my contribution is tiny. Though my sample size and geographical area was defined and confine to a particular territory but the application of out put from the research are going to be wide. PRODUCT SCOPE:  Studying the increasing business scope of the bank.  Market segmentation to find the potential customers for the bank.  To study how the various products are positioned in the market.  Corporate marketing of products.  Customers’ perception on the various products of the bank.
  65. 65. 65 RESEARCH METHODOLOGY RESEARCHOBJECTIVES AND SCOPE OF RESEARCH PROJECT PROBLEM DEFINATION: Sales Executives were with good background human being and through rigorous process of recruitment but still not able to perform up to the expectation level of company, HR is not able to sort out the problem why the performance is not coming even after giving the full marketing support. The communication technique and dealing with the customers is also a problem to the sales executives. All the findings and conclusions obtained are based on the survey done in the working area within the time limit. I tried to select the sample representative of the whole group during my job training. I have collected data from people linked with different profession at Lucknow. RESEARCH PLAN: Preliminary Investigation: In which data on the situation surrounding the problems shall be gathered to arrive at  The correct definition of the problem.  An understanding of its environment. Exploratory Study: To determine the approximate area where the problem lies. RESEARCH DESIGN: Research was initiated by examining the secondary data to gain insight into the problem. By analyzing the secondary data, the study aim is to explore the short comings of the present system and primary data will help to validate the analysis of secondary data besides on unrevealing the areas which calls for improvement. DEVELOPING THE RESEARCH PLAN: The data for this research project has been collected through self Administration. Due to time limitation and other constraints direct personal interview method is used. A structured questionnaire was framed as it is less time consuming, generates specific and to the point information, easier to tabulate and interpret. Moreover respondents prefer to give direct
  66. 66. 66 answers. In questionnaires open ended and closed ended, both the types of questions has been used. COLLECTION OF DATA: 1: Secondary Data: It was collected from internal sources. The secondary data was collected on the basis of organizational file, official records, news papers, magazines, management books, preserved information in the company’s database and website of the company. 2: Primary data: All the people from different profession were personally visited and interviewed. They were the main source of Primary data. The method of collection of primary data was direct personal interview through a structured questionnaire. SAMPLING PLAN: Since it is not possible to study whole universe, it becomes necessary to take sample from the universe to know about its characteristics.  Sampling Units: Different professionals Chartered Accountants, Tax Consultants, Lawyers, Business Man, Professionals and House Wives of Lucknow.  Sample Technique: Random Sampling.  Research Instrument: Structured Questionnaire.  Contact Method: Personal Interview. SAMPLE SIZE: My sample size for this project was 200 respondents. Since it was not possible to cover the whole universe in the available time period, it was necessary for me to take a sample size of 100 respondents. DATA COLLECTION INSTRUMENT DEVELOPMENT: The mode of collection of data will be based on Survey Method and Field Activity. Primary data collection will base on personal interview. I have prepared the questionnaire according to the necessity of the data to be collected. RESEARCH LIMITATIONS:  It was not possible to understand thoroughly about the different marketing aspects of the Financial Consultant within 60 days.
  67. 67. 67  As stipend, money was not given it was difficult to continue the project work.  All the work was limited in some limited areas of Lucknow so the findings should not be generalized.  The area of research was Lucknow and it was too vast an area to cover within 60 days.
  68. 68. 68 DATA INTERPRETATION AND ANALYSIS
  69. 69. 69 Q1. Do you know what is expected of you at work? Strongly Agree b) Agree c) Disagree d) Strongly Disagree Not Applicable Analysis: 68% of the sample agreed to the fact that they are aware about the work which they have to perform while 32% are strongly agree on this fact. 32% 68% 0% 0% 0% Q1 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  70. 70. 70 Q2 At work, do you have the opportunity to do what you do best every day? Strongly Agree b) Agree c) Disagree d) Strongly Disagree Not Applicable Analysis: Majority (53%) of the employees get the opportunity to do best of their work everyday while 28% of them disagreed on this and 18% of them strongly agreed. 18% 53% 29% 0% 0% Q2 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  71. 71. 71 Q3 In the last three months, have you received recognition or praise for doing good work? Strongly Agree b) Agree c) Disagree d) Strongly Disagree Not Applicable Analysis: 84% of the employees have received recognition or praise in the last three months for doing good work while 11% of the employees are highly satisfied with recognition in their organization and 5% of them has not received any praise in the last 3 months. 11% 84% 5% 0% 0% Q3 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  72. 72. 72 Q4 Is there someone at work who encourages your development? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Analysis: Generally people feel sense of belongingness when someone is their at their workplace to support them and 84% of the employees agreed on this fact while 8% have strongly agreed and the other 8% disagreed. 8% 84% 8% 0% 0% Q4 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  73. 73. 73 Q5 At work, do your opinions seem to count? Strongly Agree b) Agree c) Disagree d) Strongly Disagree Not Applicable Analysis: Employees participation in decision making is again a criteria of measuring employee engagement. 87% of the employees have agreed that their decision seems to count, 10% strongly agreed to this and only 3% have disagreed. 10% 87% 3% 0%0% Q5 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  74. 74. 74 Q6 Are your associates (fellow employees) committed to doing quality work? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Analysis: 79% of the sample agreed that their fellow employees are committed to do quality work while 11% have disagreed on this fact. 5% of them have chosen strongly on this and the other 5% has given no comments on this. 5% 79% 11% 0% 5% Q6 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  75. 75. 75 Q7 In the last year, have you had opportunities at work to learn and grow? Strongly Agree b) Agree c) Disagree d) Strongly Disagree Not Applicable Analysis: Learning and Development is one of the most important aspect to find out the employee engagement in the organization. 66% have agreed that they get the opportunity to learn and grow in the organization while 21% of them have strongly agreed on it. 8% of the employee have not given any reply and 5% were disagree. 21% 66% 5% 0% 8% Q7 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  76. 76. 76 Q8 Are the pay and benefits in your organization comparable to similar companies? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Analysis: 42% of the sample is satisfied with pay and packages of their organization while 32% are highly satisfied with it. 16% disagree on the competitive pay and benefit packages. 39% 42% 16% 0% 3% Q8 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  77. 77. 77 Q9 Are job promotions in this organization fair and objective? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Analysis: Half the percentage (50%) of the employees believe that the promotions are done objectively, 31% strongly agree to the fairness of the same while 13% doubt the fairness and objectivity of the process. 31% 50% 13% 3% 3% Q9 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  78. 78. 78 Q10. Are organization policies clearly communicated in the organization? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Analysis: 47% of the sample has agreed to be clear on the policies that prevail in their respective organizations. A good proportion of 42% strongly agreed on the clarity while only 11% reported ambiguity on the policies. 42% 47% 11% 0% 0% Q10 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  79. 79. 79 Q11. Do you see yourself continuing to work for this organization two years from now? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Analysis: A majority of 50% has agreed to continue to serve in the same organization for next two years, 24% are very much willing to do the same whereas a stricking 26% of the employees are those who are on the verge to leave the organization since they are not even commiting for next two years. 24% 50% 26% 0%0% Q11 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  80. 80. 80 Q12. Do you recommend your friends/relatives in your organization? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Analysis: 24% of the sample surveyed strongly believe in recommending friends and relatives to their organizations, 63% agreed to this while 13% has disregarded the option. 24% 63% 13% 0% 0% Q12 Strongly Agree Agree Disagree Strongly Disagree Not Applicable
  81. 81. 81 Q13. Select and rank the following engagement tools applicable in your organization. Please rate the options, from 1- 8 (1 being the lowest and 8 being the highest). a) Stress Management b) Work life balance c) Career development d) Employees Participation in decision making e) Counselling/ Feedback f) Rewards and Recognition Schemes g) Employee Referral Scheme h) Retirement Plans Analysis: Rewards and recognition schemes to be the most popular engagement tool amongst the employees, next is efforts on Career develoment. Employee participation in decision making and Counseling/ Feedback seem to be equally effective, next in line is Employee referral scheme. Stress management is then regarded as important but Retirement plans and Work life balance surprisingly seem to be of least effective. 0 1 2 3 4 5 6 7 8 Stress Management Work life balance Career development Employees Participation in decision making Counseling/ Feedback Rewards and Recognition Schemes Employee Referral Scheme Retirement Plans Q13
  82. 82. 82 FINDINGS To engage the workforce, most of the organization surveyed periodicaly recognise employees and provides flexible working hours. 1. Nowadays employees are involved in decision making in the organization and majority of the employees agreed on this fact. 2. Most of the organizations allow their employees to participate in performance appraisals and to set their own Key Performance Areas. 3. Compensation & Benefit programs are observed as the most effective rewards scheme 4. For team building companies generally do small team recreational activities and social activities. 5. Majority of the sample are loyal towards their organization and they also recommend their friends and relatives to join the organization. 6. Stress management, Retirement plans and Work life balance surprisingly seem to be of least effective engagement strategies according to the employees. 7. Majority of the organizations agreed that the engagement strategies of their organization help in retaining the employees in the organization. 8. Majority has observed 5-10% of reduced attrition rate due to the implementation of engagement strategies in the organizations.
  83. 83. 83 CONCLUSION
  84. 84. 84 CONCLUSIONS Employee retention continues to remain a top priority at many organizations and one that companies increasingly view as a driver of business strategy. Business-critical knowledge can walk out the door when an employee leaves the company. While employee retention figures have long been used by companies as a measure of their performance in developing an effective organization, this view of employee retention is not only outdated, but these figures may not be comprehensive enough to truly determine the organization's effectiveness. The concept of employee retention is more complex than simply evaluating employee turnover from one year to the next. These figures of employee retention can be somewhat misleading — it isn't necessarily the number of employees an organization loses, it's the number of top-performing employees that leave the company that should be of concern. For example, management is one of the key reasons employees decide to stay or leave an organization. If there is high turnover among the management ranks, employees may also feel unstable in this ever-changing environment. Yet, on the other hand, it may not be the best business strategy to retain a manager that is disliked by employees. The business strategy of employee retention actually lies with employee engagement; retention is an outcome of engagement. What most organizations fail to realize is that employee engagement is the biggest retention factor they have control over. Engaged employees not only stay longer with the organization, they are more productive, more conscientious, make fewer errors, and take better care of customers. The business strategy of employee retention must incorporate methods that achieve a high level of employee engagement among the organization's top performers, not necessarily the entire workforce. If effective engagement practices are in place, the organizations can curb the growing attrition rates especially in IT and Banking sectors. Thus the research study proves the significance of engagement activities as a part of retention strategy in an organization.
  85. 85. 85 SUGGESTIONS
  86. 86. 86 SUGGESTIONS 1. As contrary to what managers believe that decision making is the most effective tool, the employees still prefer rewards and recognition. The Managers should focus on the rewards and recognition schemes in their organization. 2. Practically people don’t give much importance to stress management programs, work life balance and retirement plans so there is scope of improvement in this area. 3. To increase employee engagement, the organizations should : a. Provide variety: Tedious, repetitive tasks can cause burn out and boredom over time. If the job requires repetitive tasks, look for ways to introduce variety by rotating duties, areas of responsibility, delivery of service etc. b. Conduct periodic meetings with employees to communicate good news, challenges and easy-to-understand company financial information. Managers and supervisors should be comfortable communicating with their staff, and able to give and receive constructive feedback. c. Indulge in employee deployment if he feels he is not on the right job. Provide an open environment. d. Communicate openly and clearly about what's expected of employees at every level - your vision, priorities, success measures, etc. e. Get to know employees' interests, goals, stressors, etc. Show an interest in their well- being and do what it takes enable them to feel more fulfilled and better balanced in work and life. f. Celebrate individual, team and organizational successes. Catch employees doing something right, and say "Thank you." 4. As we have got a very good response from employees so the companies should have the engagement strategies to retain the employees.
  87. 87. 87 LIMITATIONS
  88. 88. 88 LIMITATIONS Every work has its own limitation. Limitations are extent to which the process should not exceed. Limitations of this project are:-  The project was constrained by time limit of two months.  Mindset of people may vary depending upon their age, gender, income etc.  Getting appointment from the concern person was very difficult.  People mind set about the survey was an obstacle in acquiring complete information & positive interaction.  Respondents were very busy in their schedule. So it was very time consuming for them to answer all the questions properly.
  89. 89. 89 BIBLIOGRAPHY
  90. 90. 90 BIBLIOGRAPHY 1.BOOKS AUTHORS Marketing Management (10th Edition) Philip Kotler Marketing Management (3rd Edition) V.S. Ramaswamy Research Methodology (2nd Edition) Research Methodology C.R.Kothary S.P. Kasande 2. NEWS PAPERS Times of India Financial Express 3. WEBSITES www.hdfcbank.com www.google.com
  91. 91. 91 ANNEXURES
  92. 92. 92 QUESTIONNAIRE FOR EMPLOYEES ORGANIZATION NAME DESIGNATION EMAIL ID Q 1.Do you know what is expected of you at work? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 2. At work, do you have the opportunity to do what you do best every day? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 3.In the last three months, have you received recognition or praise for doing good work? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 4.Is there someone at work who encourages your development? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 5.At work, do your opinions seem to count? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 6.Are your associates (fellow employees) committed to doing quality work? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 7.In the last year, have you had opportunities at work to learn and grow? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 8.Are the pay and benefits in your organization comparable to similar companies? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 9.Are job promotions in this organization fair and objective? Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable
  93. 93. 93 Q 10.Are organization policies clearly communicated in the organization? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 11.Do you see yourself continuing to work for this organization two years from now? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q 12.Do you recommend your friends/relatives in your organization? a) Strongly Agree b) Agree c) Disagree d) Strongly Disagree e) Not Applicable Q13. Select and rank the following engagement tools applicable in your organization. Please rate the options, from 1- 8 (1 being the lowest and 8 being the highest). a) Stress Management b) Work life balance c) Career development d) Employees Participation in decision making e) Counseling/ Feedback f) Rewards and Recognition Schemes g) Employee Referral Scheme h) Retirement Plans “THANK YOU”

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