To make a choice between candidates, one has, mainly, to take into consideration the following factors: — long past professional experience and, particularly, knowledge of the bank, the way it works and its organisational culture,
Promotion A promotion is a move of an employee to a job within the organisation, which has greater importance and, usually, higher pay. Frequently the job has higher status and carries improved fringe benefits and more privileges.
European banks’ new practices concerning career management are, more and more, characterised by:
Presentation of the European banks’ traditional practices In many of the retail banks from western European countries, career management was characterised by:
Assessment and remuneration
In most western European banks’ remuneration policies, flexibilisation and performance related pay are more and more widely introduced, to increase employees’ stake in the business. They favoured some kind of variable system and performance related pay plans.
General recommendations for successful on-the-job training If on-the-job training is to be efficient, it must be organised and carried out on the basis outlined below:
How management contributes to staff training
Training aims for the three possible outcomes: — the acquisition of facts and data (knowledge) — the ability to perform certain acts (know-how) -the capacity for attitudinal and behaviour change (outlook)
Training needs analysis Training should always meet a need. Otherwise it is not efficient. The need arises from a problem situation involving skills, which may be defined as a “skills gap” (the gap between actual and desirable skills).
