Study On Human Resources Management Localization Of Foreign Banks

In about thirty years of reform and opening up, with the rapid economic development, China has become a hot spot for investment to foreign companies. The trend of investing in China cannot be hold any more. Especially, under deregulation of foreign exchange policy, foreign banks get more space to develop.Financial market in China is growing prosperously and Chinese banks are also exploring the way of development.In order to stand firm in China, foreign banks accelerate their process in network expansion, product development, optimizing service and localization in all aspects. Human resource as a key part can help banks to develop further. Most foreign banks hire a lot of Chinese which takes about90%of total employees. Hiring local people not only can improve their business efficiency and cost benefit ratio, but also can make contributions to the serious unemployment problem in China. As a part of financial market in China, foreign banks have their advantages, but they also face the problems of multinational operation.This paper is about the research of foreign banks operation in China through literature analysis and questionnaire. This research summarizes the motivation of entering Chinese financial market, their development process and the present situation. It also analyzes the characters of human resource management. In the paper, Standard Chartered Bank Hohhot Branch is used as an example. This paper sates the specific localization process of Standard Chartered Bank Hohhot Branch through analyzing30questionnaires from the president of Hohhot Branch, business managers, financial managers, bank tellers and interns etc. It is found that they had a lot of problems in management of human resource, such as unreasonable allocation, undifferentiating training materials, low salary, unmatched performance objective and actual capacity of employees. Suggestions on strategic human resource management are provided for Standard Chartered Bank Hohhot Branch at the end of this paper as well as significant guidance for Chinese banks to go out.