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Human Resource Action Plan (Rizal Commercial Banking Corporation)

This is action plan paper for Rizal Commercial Banking Corporation prepared by the students of Capitol University major in Marketing Management and Financial Management taking up Human Resource Management subject.

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Human Resource Action Plan (Rizal Commercial Banking Corporation)

  1. 1. Human Resource Management Action Plan Capitol University College of Business Administration Action Plan for Rizal Commercial Banking Corporation Bryan Agustin Oculam Cherry Mae Lobedica Junryl Ybañez Mark Tilos Mgt 2 Human Resource Management Ms. Heidi Grace P. Mendoza October 2013
  2. 2. Human Resource Management Action Plan RCBC Profile A. History Established in 1960, Rizal Development Bank started as a small development bank in the humble province of Rizal. It received the Central Bank's approval to operate as a commercial bank in December 1962, and commenced operations under its present name in January 1963. With the inauguration of its mother office at 219 Buendia Avenue (then part of Rizal), RCBC officially became the first commercial bank to ever establish its head office in that province. Judging by its spontaneous growth from Manila to Mindanao, it can be said that RCBC had a fruitful maiden year. It was already out of the red after less than two months of operations, constantly propelled by its vision of joining the ranks of industry leaders; building a strong and established brand among consumers; and delivering quality service to clients as it provides the best returns to stockholders. Further solidifying its growth was RCBC's partnership with two foreign banks in the '70s -- one in America, and the other in Japan. These critical collaborations were designed to strengthen the bank's international network. With such measures in place, the company soon passed the P1 billion mark in total resources in 1973 and hit the P2 billion mark three years later. The bank never stopped growing since. Along with rapid expansion came a steady wave of opportunities from a wide range of market segments. These integral growths were first felt in the consumer/retail segment, middle income groups, locators in the export processing zones, corporate partners, and the Filipino-Chinese market segment. RCBC also developed into one of the remittance industry's strongest players, thanks to its extensive presence that is further boosted by its remittance subsidiaries and partners in North America, Europe and Hong Kong.
  3. 3. Human Resource Management Action Plan SET IN GOLD Today, RCBC firmly holds its place among the five largest private domestic commercial banks in the Philippines. From 2007 to 2010, its interest and non-interest income have been growing at double-digit rates, triumphantly riding out the global economic crisis with a 3.31 billion net income in 2009, a growth of 54 percent from 2008. For the first quarter of 2010, it posted P975 million in net income, and its total consolidated resources have reached a staggering 282.8 billion. Equally impressive to its performance is its strategically advantageous position at RCBC Plaza, one of the most commanding, modern, and expansive buildings located at the heart of the Makati Central District. To continuously cover the diverse and constantly growing needs of the markets it serves, the RCBC Group has invested in a series of financial subsidiaries that provide investment banking services, wealth management and financial advisory, foreign exchange brokerage, comprehensive remittance channels, credit card services, microfinance/SMEs resources, electronic banking channels, and retail banking services, among others. RCBC's product diversity is also enhanced by its exceptional adherence to service excellence, which in turn is reinforced by strong investments in information technology. Altogether, these provide a solid foundational platform for delivering even more innovative offerings from one of the country's top banking institutions. Along with its thrift banking subsidiary RCBC Savings Bank, RCBC continues to boost its network of over 350 branches nationwide. It has also begun to intensify its worldwide remittance channels by being present in over 180 locations across Asia Pacific, The Middle East, US, Canada, and Europe. While it is these milestones and growing figures that have captured the attention of many financial experts time and again, RCBC knows that the company's true wealth lies in its continuous commitment to serve the best interest of its customers. Proving
  4. 4. Human Resource Management Action Plan that there's more to its riches than gold, the bank has put to heart its purpose of providing professional and personalized services to clients, corporations, and other members of the communities it serves. And this sense of duty, above anything else, sets RCBC's 50 years of service in gold. B. Owner PRESIDENT AND CEO LORENZO V. TAN ELECTED AS VICE CHAIRMAN OF ABA C. Service Banking and Financial Service D. Location Lapasan, Cagayan de Oro City, Philippines E. Industry Banking Industry F. Vision Statement of the Company To be the most admired and trusted profitable financial services group providing and adapting to our customers' and community's changing needs - for every Filipino worldwide - through innovative products, excellent services and a highly motivated, committed and impassioned team.
  5. 5. Human Resource Management Action Plan G. Mission Statement of the Company We are a leading universal bank providing quality Integrated Financial Services that best meet our clients' needs. We are committed to: Conducting our business with utmost integrity, excellence, and commitment as responsible corporate citizens; and, Providing professional growth opportunities to develop a talented base of officers and employees; achieving the best returns for our stockholders. H. Organizational Objectives The bank commits to continue establishing on full faithful compliance with laws, regulation, Bangko Sentral ng Pilipinas (BSP) Circulars release by other government regulatory agencies. Accountability involves providing adequate incentives and instilling in the business environment the discipline to act in the best interest of the company. Promote the good reputation of the bank in dealing with depositors, borrowers and other parties that transact business with bank. Sustain program of corporate social responsibility that enhances the good image of the bank before the general public.
  6. 6. Human Resource Management Action Plan Assessment based on Human Resource Management Theories Recruitment, selection and management Human Resource Management is focused on development of an integrated package of policies and procedures with the objective of effective and efficient management of people, then recruitment and selection involves the vital stages in the finalization of employees on whom the policies will be applied and those who will follow the procedures. Recruitment and Selection refers to the processes that organization employs to solicit, contact and interest potential appointees, and then establish whether it would be appropriate to appoint any of them. Recruitment and selection are two different processes undertake by the business, Recruitment is a positive initiative on the part of the business where Employer encourages more and more candidate to make application for the job posted, so that business has considerable pool of candidates to select from, whereas selection could very well be termed as a negative initiative where focus is on scrutiny and filtering the best and most suitable candidates for the jobs. The researchers decided to choose this Human Resource Management theory as one of our basis in order to obtain a resolution to the basic problem face by RCBC. The RCBC main problem is the hiring process because all branches here in Mindanao specifically located in Lapasan Cagayan de Oro city does not have Human Resource personnel, they only have a representative acting as a human resource.
  7. 7. Human Resource Management Action Plan A. Recommended Course of Action Human resource departments in banks must go the extra mile to uncover the criminal and financial history of job applicants, for the safety of their clients and their organization as a whole. Banks are highly unlikely to hire candidates with financial fraud on their records, for example, due to the sheer weight of temptation a position in a bank would place on someone with that kind of history. (http://www.ehow.com/info_7986688_role-hr-banking.html#ixzz2gV6p5eXC) Based on the statement above, the HR of RCBC should have broad knowledge of his/her field for the safety and security of the company. The Human Resource Department should undergo a cyclical process of the applicants in order to get the finest applicants that would suit the needs of the bank. Based on the problem the researchers propose that the RCBC should have a HR department located here in Mindanao. We found out the RCBC still uses the traditional way of hiring employees that is the Centralized System wherein hiring transaction only in the main office located in Cebu. Advantages of the proposal are the following:  Convenience of the applicant who cannot afford to travel in their main branch located in Cebu.  Minimize applicants’ effort and time.  Avoid fabrication about applicants personal information  High Level Of Candidate Engagement - allows candidates to get out of their shell and relax, showing their true personality.  Reduced Subjectivity - This helps reduce a level of bias towards a candidate  Face to Face contact with the applicant that helps the manager estimates the capacity and ability of the applicant. Through these advantages it will help the RCBC here in Lapasan Cagayan de Oro City that the applicants will not consumed high expenditures and it will assure the applicants are suitable in that position.
  8. 8. Human Resource Management Action Plan B. Actual Intervention The RCBCs’ major problem was on the applicants who will encounter a hiring process that will take so long.  The main office of Human Resource Department of RCBC was located in Cebu focusing areas located in Visayas and Mindanao, resulting to this problem is time consuming of hiring process.  The head of human resource department in Manila should employ reliable HR Manager here in Mindanao, specifically located in Cagayan de Oro so that the convenience of the applicants will be efficient.
  9. 9. Human Resource Management Action Plan The old HR Department Structure Cagayan de Oro Mindanao General Santos Iligan Pagadian Valencia Maramag Ozamiz Dipolog Zamboanga Butuan Davao Cotabato Negros Occidental Negros Oriental Bacolod Mandaue City Western Samar Northern Samar Iloilo Cebu Aklan Visayas Manila Cebu RCBC
  10. 10. Human Resource Management Action Plan The new HR Department Structure The researcher aims towards this proposal is to be farther deliberated by the head office of the HR Department of RCBC in applying hiring process that is accessible to all aspiring applicants. RCBC Mindanao Visayas Manila Cebu Davao Cagayan de Oro General Santos Iligan Pagadian Valencia Maramag Ozamiz Dipolog Zamboanga Butuan Cotabato Main branch of HR Main branch of HR Head of main branch Yuchengco Tower, RCBC Plaza 6819 Ayala Avenue, Makati City 0727 Philippines
  • KimAgaton

    Feb. 22, 2020
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    Jan. 30, 2018
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    Nov. 1, 2014
  • bryanoculam

    Oct. 31, 2014

This is action plan paper for Rizal Commercial Banking Corporation prepared by the students of Capitol University major in Marketing Management and Financial Management taking up Human Resource Management subject.

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