ccc
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The clutter of companies on corporate, markets and finance pages of pink

dailies tends to make life difficult for investors and journalists alike. Integral,
therefore, appreciates the need for specialized analysis to cater to the needs of
financial journalists. Investors, too, need sharp, focused industry information to
be able to assess the appropriate financial value of a company. Integral maps the
client's strength vis-à-vis the industry and reinforces its financial promise.







The Jammu & Kashmir Bank, by virtue of its name, has been associated with
uncertainty. Integral, to begin with, has altered this perception through a
concerted media campaign. It conducts regular sessions with financial anal ysts
to highlight the strengths of J&K Bank in the right perspective. The results of
this strategy are not far to seek -- p


rated J&K Bank as the
top bank in the country in 2002.

History of financial services

[edit]c




The term "financial services" became more prevalent in the United States partly
as a result of the Gramm-Leach-Bliley Act of the late 1990s, which enabled
different types of companies operating in the U.S. financial services industry at
that time to merge. [2] Companies usually have two distinct approaches to this
new type of business. One approach would be a bank which simply buys an
insurance company or an investment bank, keeps the original brands of the
acquired firm, and adds the acquisition to its holding company simply to
diversify its earnings. Outside the U.S. (e.g., in Japan), non-financial services
companies are permitted within the holding company. In this scenario, each
company still looks independent, and has its own customers, etc. In the other
style, a bank would simply create its own brokerage division or insurance
division and attempt to sell those products to its own existing customers, with
incentives for combining all things with one company..
 [edit]Banks
„

A "commercial bank" is what is commonly referred to as simply a "bank". The
term "commercial" is used to distinguish it from an "investment bank," a type of
financial services entity which, instead of lending money directly to a business,
helps businesses raise money from other firms in the form of bonds (debt)
or stock (equity).
[edit] 


The primary operations of banks include:

å Keeping money safe while also allowing withdrawals when needed

å Issuance of checkbooks so that bills can be paid and other kinds of payments
can be delivered by post
å þrovide personal loans, commercial loans, and mortgage loans (typically
loans to purchase a home, property or business)
å Issuance of credit cards and processing of credit card transactions and billing
å Issuance of debit cards for use as a substitute for checks
å Allow financial transactions at branches or by using Automatic Teller
Machines (ATMs)
å þrovide wire transfers of funds and Electronic fund transfers between banks
å ^acilitation of standing orders and direct debits, so payments for bills can be
made automatically
å þrovide overdraft agreements for the temporary advancement of the Bank's
own money to meet monthly spending commitments of a customer in their
current account.
å þrovide Charge card advances of the Bank's own money for customers
wishing to settle credit advances monthly.
å þrovide a check guaranteed by the Bank itself and pr epaid by the customer,
such as a cashier's check or certified check.
å Êotary service for financial and other documents
[edit]





å þrivate banking - þrivate banks provide banking services exclusively to high

net worth individuals. Many financial services firms require a person or
family to have a certain minimum net worth to qualify for private banking
services.[3] þrivate banks often provide more personal services, such as
wealth management and tax planning, than normal retail banks. [4]
å Capital market bank - bank that underwrite debt and equity, assist company
deals (advisory services, underwriting and advisory fees), and restructure
debt into structured finance products.
å Bank cards - include both credit cards and debit cards. Bank Of America is
the largest issuer of bank cards. [


]
å Credit card machine services and networks - Companies which provide
credit card machine and payment networks call themselves "merchant card
providers".
[edit]^oreign exchange services

^oreign exchange services are provided by many banks around the world.
^oreign exchange services include:

å Currency exchange - where clients can purchase and sell foreign currency
banknotes.
å ^oreign Currency Banking - banking transactions are done in foreign
currency.
å Aire transfer - where clients can send funds to international banks abroad.
[edit]Investment services

å Asset management - the term usually given to describe companies which

run collective investment funds. Also refers to services provided by others,
generally registered with the Securities and Exchange Commission
as Registered Investment Advisors.
å Hedge fund management - Hedge funds often employ the services of "prime
brokerage" divisions at major investment banks to execute their trades.
å Custody services - the safe-keeping and processing of the world's securities
trades and servicing the associated portfolios. Assets under custody in the
world are approximately $100 trillion. [5]
[edit]Insurance
„
 


å Insurance brokerage - Insurance brokers shop for insurance (generally

corporate property and casualty insurance) on behalf of customers. Recently
a number of websites have been created to give consu mers basic price
comparisons for services such as insurance, causing controversy within the
industry.[6]
 å Insurance underwriting - þersonal lines insurance underwriters actually
underwrite insurance for individuals, a service still offered primarily through
agents, insurance brokers, and stock brokers. Underwriters may also offer
similar commercial lines of coverage for businesses. Activities include
insurance and annuities, life insurance, retirement insurance, health
insurance, and property & casualty insurance.
å Reinsurance - Reinsurance is insurance sold to insurers themselves, to
protect them from catastrophic losses.
[edit]Other financial services

å Intermediation or advisory services - These services involve stock brokers

(private client services) and discount brokers. Stock brokers assist investors
in buying or selling shares. þrimarily internet-based companies are often
referred to as discount brokerages, although many now have branch offices
to assist clients. These brokerages primarily target individual investors. ^ull
service and private client firms primarily assist and execute trades for clients
with large amounts of capital to invest, such as large companies, wealthy
individuals, and investment management funds.
å þrivate equity - þrivate equity funds are typically closed-end funds, which
usually take controlling equity stakes in businesses that are either private, or
taken private once acquired. þrivate equity funds often use leveraged
buyouts (LBOs) to acquire the firms in which they invest. The most
successful private equity funds can generate returns significantly higher than
provided by the equity markets
å enture capital is a type of private equity capital typically provided by
professional, outside investors to new, high-potential-growth companies in
the interest of taking the company to an IþO or trade sale of the business.
å Angel investment - An angel investor or angel (known as a business angel or
informal investor in Europe), is an affluent individual who provides capital
for a business start-up, usually in exchange for convertible debt or ownership
equity. A small but increasing number of angel investors organiz e
themselves into angel groups or angel networks to share research and pool
their investment capital.
å Conglomerates - A financial services conglomerate is a finan cial services
firm that is active in more than one sector of the financial services market
e.g. life insurance, general insurance, health insurance, asset
management, retail banking, wholesale banking, investment banking, etc. A
key rationale for the existence of such businesses is the existence of
 diversification benefits that are present when different types of businesses
are aggregated i.e. bad things don't always happen at the same time. As a
consequence, economic capital for a conglomerate is usually substantially
less than economic capital is for the sum of its parts.
å  
!" is a consumer service that assists individuals that have too
much debt to pay off as requested, but do not want to file bankruptcy and
wish to payoff their debts owed. This debt can be accrued in various ways
including but not limited to personal loans, credit cards or in some cases
merchant accounts. There are many services/companies that can assist with
this. These can include debt consolidation, debt settlement and refinancing.
Ñ#

^ive ways to praise employees

In my ongoing research on employee recognition, I have identified five unique
ways that you can thank employees: personal praise, written praise, electronic
praise, public praise and indirect praise. Although these different types of praise
may all seem related, I have learned that they are each mutually exclusive, that
is, they tend to be separate and unique actions, each with their own benefits. Let
me discuss each type of praise and how you might use it with your employees.
þersonal praise. Employees consider this the most important type of praise. It
consists of being verbally thanked one -on-one for doing good work, being
specifically sought out for such praise by one's manager or being commended
for good work in front of another person. The best personal praise is timely,
sincere and specific. Create time to connect with each of your emplo yees--even
if it's over coffee or lunch--to see how they are doing and to thank them for all
they've done. You could even personally praise each of your employees when
your staff gets together for a meeting. If you use this tactic, make sure you find
something positive to say about everyone present so that no one feels left out.

Aritten praise. This is considered to be the next most valued type of praise by
employees and it, too, comes in several varieties: from a letter of commendation
being added to one's personnel file to a written note of thanks or a thank you
card. In past years I've taken time to write an individual letter to each of my
employees, specifically listing highlights of their performance I was proud of
over the past year. This takes less time than you might think and the impact on
the employees is significant.
 Electronic praise. This is similar to written praise, but enables you to leverage
positive communication as it occurs in your daily work. Twenty -eight percent of
employees report it is "extremely important" to them to have positive e -mail
messages forwarded to them and 65 percent say it's "extremely or very
important" to be copied on positive e -mail messages. Use this technology to
highlight any good news as it occurs. And don't forget the use of voicemail as
well to leave a positive word of thanks --without rolling into another work
assignment or project.

þublic praise. There is an almost an endless variety of ways to acknowledge

employees publicly. Sharing positive letters from customer s or posting them on
a "Good Êews Bulletin Board" or even bringing some key customers in -house
to acknowledge employees sends an important message to everybody in the
organization. Taking time at the beginning or end of department or
companywide meetings to thank performers or allowing employees to
acknowledge one another at group meetings can also be very effective. Or using
the company newsletter to post positive information, name top performers, or
thank project teams are a few other possibilities.

Many companies have a year -end awards banquet, which of course provides lots
of opportunities to spotlight individuals and groups. Bring such ceremonies
alive with stories about people's successes and the obstacles they had to
overcome to achieve their goals.
Indirect praise. You can use any of the above communication to praise someone
and his or her performance to others even if he or she is not present, knowing
that word will get back to the individual or individuals who are commended.
^or some employees, this form of recognition is the most credible because it is
done without any expectation in return. "My boss must have thought what I did
was important to have brought it up to the entire management team!"
It doesn't take a lot to make a big difference in how your employees feel about
themselves and their work. Try to connect with your employees in a way that
they'll remember for years to come!
25 Aays to Reward Employees (Aithout Spending a Dime)
Your firm's employees work hard (well, most of them). And in a world where
corporations like to boast about running "lean and mean," it may seem nearly
impossible to compensate employees for doing good work without breaking the
budget.
D
$!%

"
If there's one free reward that rises above the rest, it's
flexible work schedules. Êearly every expert we contacted suggested flex time
 as a perk that offers the most gain with the least pain.

³Give a little latitude in determining work schedules and to take time for family
or personal issues (such as doctor¶s appointment and banking errands),´ advised
Richard Martin, president of Alcera Consulting Inc. ³As long as the employee is
deserving and doesn¶t abuse the privilege, this can go a long way to build ing
trusting and mature relationships with key workers.´

Œ


&
 Supervisors should ask top brass to write a

personal note to employees who deserve recognition, advised Cindy entrice,
author of "Make Their Day! Employee Recognition That Aorks ." ^or example,
AdvancedMD CEO Jim þack handwrites his thank-you notes to employees on a
$2 bill. ³In three years of doing this, only one employee has asked if he could
spend it,´ said company spokesman John þilmer.

'


&
" ³During a business coaching engagement, I found employee
morale to be way down,´ said Terri Levine, president of The Coaching Institute.
³Ae created a weekly event to boost morale. One week we asked everyone to
bring in a baby picture, post it on a wall, then pick which person matched each
picture. Everyone was having fun and socializing while productivity went from
58 percent to 72 percent ² all in the same week.´

(
)!
*
 Introducing employees to key suppliers, customers or

someone in senior management can help make an employee's career, says
entrice ² and it won't cost you a thing.


+
,

 Kaerie Ray, an account executive w ith the Echo Media
Group public relations firm, said implementing a ³no-shoes policy´ can make
employees feel right at home with each other, which translates into increased
productivity. (But she suggests keeping the footwear handy in case clients come
in.) ³It's great to be in an office where employees are more concerned about
doing quality work than what shoes or jewelry they have on,´ she said. ³Ae get
so much done.´


-

*


& (As in parties, not lathering and rinsing.) ³Every
birth and wedding deserves a shower,´ said Ray. ³Echo employees always leave
early on shower days, and the food is on the house. Êo need to make up the
time.´

.
&


&!!

"
Even if their ideas sometimes fail, you

want employees to keep producing them, said Alan Aeiss, president of
the Summit Consulting Group Inc. ³Ahen I consulted with the CEO of Calgon,
we created an annual award for 'the best idea that didn't work' and presented a
loving cup at the annual awards dinner. This stimulated innovation and positive
behavior, not 'winning.'´

>
/
*


 Levine suggests giving out a certain number of free

days off to employees to use as they see fit. ³Employees get a few of these a
year and can use them as they like,´ she said. ³They don't have to pretend to be
sick. They can go to the beach, read a book, play with their kids ... it doesn't
matter.´

0
!
"
*

" During the busiest times of the year, executives

at the Cigna Group push coffee carts around the office, serving drinks and
refreshments to their colleagues, noted Steve Harrison, author of " The
Manager's Book of Decencies: How Small Gestures Build Great Companies ."
As they serve, executives coach and encourage colleagues and hear about real
consumer issues.
D
!&
"

! Cisco Systems Inc.'s CEO John Chambers hosts a
monthly hour-long birthday breakfast for any employee with a birthday that
month, says Harrison. ³Employees are invited to ask him anything. They feel
recognized, and he gains loyal employees who share their ideas.´

DD


! Ask co-workers to write something they truly like or

admire about an employee on a scrap of paper, then frame them along with a
photograph of the employee, suggested David Russell, author of " Success Aith
þeople ± A Complete System for Effectively Managing þeople in Any
Organization."

DŒ


&
Giving your best employees a chance to pick their own

projects or trade tasks with a colleague empowers and rewards them at the same
time, said Harrison.

D'
!"


1
!!! If someone has done something really

worthwhile, have your entire staff give them a standing ovation at the next
meeting, suggested Sharlyn Lauby, president of HR consulting firm ITM Group
Inc.


D(


&
!&
þrofessor Linda M. Lopeke, principal
ofSmartStartCoach.com, sayid she used to reward top employees by bringing in
flowers from her garden and arranging the m in a spectacular crystal vase on
their desks. ³Everybody knew what having the custody of the flowers meant,´
she said. ³Surprisingly, even the men competed fiercely for custody of the
flowers.´ In the winter, she'd substitute a showpiece display of float ing glass
fish.
 D+
2!


"
!
 The City of Dallas sponsored a walkathon where
employees set goals for walking a certain number of steps each day, offering a
free gym membership to those who walked the farthest. Êot only did they get
more fit, they turned their daily walks into traveling staff meetings, says city
spokeswoman Danielle McCelland.

³Group members were able to update one another on projects, solicit team input
and improve their fitness,´ she said. ³The organized program ended after three
weeks, but the work group still holds their traveling staff meetings two months
later.´

D-


". Handing out monopoly money that can be redeemed for
gifts and other goodies may not be strictly free, but it pays off handsomely in
the long run. ^or example, associates at BankAtlantic can pass out ³AOA!
Bucks´ to colleagues who've done something outstanding, said bank vice
president Gregory Dalmotte. The bucks can eventually be traded in for real
goods. ³There's a clear correlation that word s of encouragement have created
associates who perform at a higher level,´ he says.

D.


** ³My team created a scrapbook chronicling the impact

I'd had on their company and gave it to me on my last day in the office,´ said
Lopeke. ³þeople who¶d worked on my teams wrote testimonials and creative
graphics highlighting some our team successes. It's the best gift I ever received
in my 40-year career.´

D>
!
*


2!!

$* Several experts suggested setting aside a

public space inside your firm and placing photos of employees who've
accomplished something truly special, along with the details of what they did to
earn their place on the wall.


D0

"
&
3 !"

 3
Set aside a quiet space or unused office in
your building where employees can meditate, chill out, nap or otherwise re -
center themselves, said John þutzier, author of " Get Aeird! 101 Innovative
Aays to Make Your Company a Great þlace to Aork."

Œ



³Great employees are not mercenaries,´ said Dr.

Richard Chang, CEO of Richard Chang Associates Inc., a performance-
improvement consultancy. ³They don¶t just want to enjoy their work, they want
to be passionate about it ... if you want your employees to feel valued and
inspire their passion on your behalf, encourage them to make their own
decisions. You can have systems in place to control the implementation of
ideas, but you must be certain not to compromise the enthusiasm, creativity and
 hard work that make them possible in the first place.´


ŒD
/
*

!


 Reserve the best parking spot for employees
who've done something truly worthwhile, said Lopeke. And if it's n ext to the
CEO's Lexus so the employee can chat him or her up on the way into work, so
much the better.


ŒŒ
** 

" Independent management consultant Êan
Amish recalled one time when she had 16 employees trapped in a hotel lobby
on a Sunday night, waiting for the ballroom to open so they could set up a trade -
show booth. ³I bought flowers at a farmers market, a nice $6 bouquet of roses
for each person,´ she said. ³I told them to t ake them home to their significant
others, apologizing for me taking them away from their families on a Sunday.
The next day I got thank-yous from most of them. One wife sent a letter saying
I could keep her husband until ^riday.´

Œ'
" !4

"
³Ae like to publicly recognize employees so the

whole company can share in their accomplishments,´ noted Scott Ragusa,
president of contract businesses for staffing firm The Ainter, Ayman
Companies. ³Each week, nominations for our quarterly 'Clutch' award are
shared with the whole company. The Clutch nominations are a way to recognize
our administrative and nonmanagerial professional staff members who have
come through in the clutch in supporting their departments or the firm.´

Œ(
,
*


 Telecommuting programs can relieve stress and make

workers feel more appreciated, as well as more productive. ³Reward the
employee by starting with one day of telecommuting, then add additional day s
as performance heightens,´ suggested Brian Margarita, president of IT staffing
firm Talent^use Inc. ³Having the option to cart the kids to soccer practice, visit
the beach during the afternoon or cut out early to avoid traffic congestion is
becoming more important than working an 80 -hour week for a larger
paycheck.´

Œ+
** 


& ³The two most underused words in corporate

America that get the highest ROI (return on investment) and ROT (return on
your time) are the simple words 'thank you,'´ noted Michael Guld, president of
the Guld Resource Group author of "The Million Dollar Media Rep: How to
Become a Television and Radio Sales Superstar ."

Ahile telling your employees you appreciate them should be obvious, added
Amish, no one does it enough or is specific enough about what the employee
did. ³So when you share your appreciation, be specific about what you really
liked, so they not only feel appreciated but can do it again.´
 "

5


4

emotions about work can adversely affect organizatio nal success. negative
emotions adversely affect productivity, profitability, performance, and
retention, key factors in organizational success. Their conclusion implies that
workers may be just "hanging on" to their present jobs without being engaged
in, or by, their work, and that they may be only moderately engaged in their
work. The implication is clear: workers who are not fully committed to their
work may be hampering organizational success.
Another conclusion that impacts organizations, researchers co ncluded that
disengaged employees may adversely affect coworkers with their negative
attitudes.

Changing employees' attitudes

Aith such dour news on the workfront, how can managers change employees'
attitudes from negative to positive, and enhance organizational success? Ahat
are the factors that influence positive attitudes and increase worker
engagement?
^irst, workplace leaders must understand some of the underlying elements that
may create emotionally distant workers. Researchers in the study r eported that
five elements contributed to most of the workers' negativity, including:
‡ excessive workload;
‡ concerns about leadership effectiveness;
‡ anxiety about job and financial security;
‡ lack of challenging work, boredom, frustration; and
‡ insufficient recognition.
Êegative emotions stemming from these factors spell trouble for employers,
especially regarding retention. The study found that among the intensely
negative group, nearly 30 percent were actively looking for new jobs, as
opposed to only 6 percent of workers, who had positive emotions about work.
In the study, workers were asked to describe what their ideal work experience
would entail. Their answers focused on the following elements:
‡ having a sense of self-worth - having confidence, feeling competent and in
control of their work and work experience;
‡ seeing results - the contributions workers make in helping their organizations
succeed; and
‡ being rewarded and recognized - knowing that their contributions are
 recognized and compensated.
Knowing some of the factors that cause employees to be emotionally distant
from their work, as well as some of the elements they value, work leaders can
develop plans to dispel negativity, and increase positive emotions among their
staff. Some elements managers should include in their plans:
Identify and communicate priorities. Managers can start changing employees'
attitudes to a positive mindset by identifying and communicating priorities.
Setting priorities with employees helps them to focus on important tasks, and
may help to lessen some of the stress they feel when they're overwhelmed by a
heavy workload. Identify work process breakdowns. Determine whether there
are better or more productive work methods that staff members can employ. Get
the right tools. ^rustration often occurs when employees have insufficient or
ineffective equipment to work with. Make sure employees have the appropriate
tools to do the work.
Give them space. Managers should set expectations for the outcome, and
provide direction only when needed. Allowing workers a greater sense of
autonomy and authority in deciding how to conduct the work breeds trust, and
invests employees in the process, as well as the outcome.
þrovide training. Training helps employees to feel more c ompetent in their jobs,
and prepares them for greater responsibility and more challenging assignments.
Confidence is a result of competence; training is the tool.

Talk to workers. Let employees know what is expected of them regarding

performance, as well as how and where they "fit" in the organization.
Employees need to know that their contributions make a difference. Select
specific work examples to demonstrate their contributions. Staff meetings and
one-on-one conversations are perfect venues to discuss how employees help the
organization to succeed.
Keep employees informed. Employees want to feel like they are "in the know"
about their department, and the organization as a whole. By sharing
information, work leaders send the message that they trust and r espect their
staff. Employees will feel valued and will return their leaders' respect.

Listen. Talk to employees about their workplace concerns. Also, keep abreast of
the grapevine for simmering issues - address them quickly and confidently.
Dispel rumors with the facts. Be honest about mistakes and problems. Twisting
the truth is never advised - employees have long memories and their trust may
 be lost forever.

Help employees feel less anxious about job security. Offer feedback about job
performance - don't wait until review time to discuss behavioral issues. Talk to
workers about their work challenges, and help to find solutions. Also, keep
employees informed of departmental functioning; informing employees of
events as the year progresses is better than communicating bad news later.

Reward employees for their efforts. ^inally, managers must make sure
employees are rewarded for positive behavior and contributions. Studies show
that money isn't the motivator of choice for most people. Ask employees what
motivates them. Showing genuine appreciation for an employee's work is often
enough. Some workers, however, might appreciate having a positive letter
placed in their personnel file recognizing a particular contribution. Others might
appreciate greater challenges or consideration for high-profile assignments. ^or
others, small perks can go a long way.

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