Pm & cm


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Pm & cm

  1. 1. Performance ManagementProject on:The Bank of Punjab SAJJAD HUSSAIN (25) ABUBAKR NAZIR (2538) ABDUR REHMAN (25)Submitted to:SIR MUDASSIRInternational Islamic university Islamabad
  2. 2. Project report of performance and compensation management:-Introduction:- Performance management is the process of creating a work environment orsetting in which people are enabled to perform to the best of their abilities.Performance management is a whole work system that begins when a job isdefined as needed. It ends when an employee leaves your organization.Consultants are using the term “performance management” as a substitutionfor the traditional appraisal system. I encourage you to think of the term in thisbroader work system context. A performance management system includes thefollowing actions.* Develop clear job descriptions.* Select appropriate people with an appropriate selection process.* Negotiate requirements and accomplishment-based performance standards,outcomes, and measures.* Provide effective orientation, education, and training.* Provide on-going coaching and feedback.* Conduct quarterly or semi annually performance development discussions.* Design effective compensation and recognition systems that reward people fortheir contributions and performance in the organization* Provide promotional/career development opportunities for staff.The Bank Of Punjab-Established in 1989, in pursuance of The Bank of PunjabAct 1989 and was given the status of scheduled bank in 1994. The Bank ofPunjab is working as a scheduled commercial bank with its network of 272branches at all major business centers in the country. The Bank provides alltypes of banking services such as Deposit in Local Currency, Client Deposit inForeign Currency, Remittances, and Advances to Business, Trade, Industry,and Agriculture A wholly owned subsidiary of BOP First Punjab Modaraba(FPM) was established in 1992 and is being managed by Punjab ModarabaServices (Pvt) Ltd. This lends more stability and resilience to the Bank’s
  3. 3. financial health that portends promising prospects of rejuvenated operations,robustness in business continuity and much strengthened capacity forachievement of sustainable growth, diversity, and all-round progress in everyfacet of banking.we got the information about there performance and compensationmanagement of there employees. The bank was open in 16 November 1989.Mr.tajamal hussain was the first president of the BOP. The currently president ofBOP is Mr.naeemuddin khan.the hiararchy of the over all of the bank isChairmanPresidentDupty CEOGeneral manager GMSEVPEVPVPVPIAVPAVPIOGIOGIIOGIIICash officer COAdmin Assitant officer AAC In branchesChief managerOperational managerStaff officers(5 to 9)pionsThe departments of the BOP areChairman secretariatPresident secretariatDupty CEO officeLiability development divisionBroad base liabilityOperations divisionTrade processing centreO & M department
  4. 4. Fraud risk managementCash managementFinance managementCredit risk management divisionConsumer CellHuman resource divisionLaw departmentAudit compliance CellGeneral service divisionCredit policy departmentCommercial Banking GroupCorporate and ivestment banking groupI.T staffTraining department:-The BOP have their own training department for the improvement in theemployees and to enhance the skill levels of their employees if needed thetrining centre is OTI officers trianing institute and also there employees weretrined through other institues when needed like from IBP institute of bankerspakistan.Performanace management at Measurement method :-BOP:GOALS Objections or irragularities pointed The performnce of the employees at outbop is measured under theinstructions given by the state bank of DCFCPakistan through a certain creteria Checking problems dailywhich is: Responsible to work in thegeneral banking in accordance with Weightage is 25% for abovebank policies and procedures and SBP instructions.instructions. Implmentation of all service operational procedure SOP in true spirit and bringing improvement in the branch working by implementing policies of the SBP Ensure full compliance with risk management policies and procedures and do not follow the audit objections in future
  5. 5. Implmentation of DCFCCheck and balance of onlinebanking daily and report ITdepartment if any problem is in No of adverse transactionssystem reportedEmployees when performing Smooth flow in performance ofduties they must bring quality the dutiesto there work and KYC know No of incidence of fraud andtheir custumer and also falsificationincrease the customer This process is weighted 30%.satisfactionThen they also bring quality tocustomer services bycontinuously improving existing Service standerd of branchprocess and must dispose No of complaints receivedcustomer complants if any and TAT of each transactionalso moniter the TAT turn This process is weighted asarround time of each 15%.transaction.TQM at practice for cusmersatisfaction Achievement of individual Achievement of targets given depoit targets on the monthly time to increase the desired basis through mobilization of results the low cost deposit. This process would be rated Facilitating the branch as 20% manager BM and branch operational manager BOM by attending value customer and also persuading new customers to deposit there cash in the bank this process increase the relationship of the BOP with customers. Actively participating in the marketing activties to enchance the bank deposit among different competiters Ensuring of the decorum and Punctuality
  6. 6. disipline in the branch. Observance of dress and Timely arrival of employees at behavior eith other the branch and observance of colleagues the dress code Team work Developing the healthly This process is rated as 10% environment at office work to enhance the productivity level and have to participate with other employees which all benefited in collaborative working and team work is quit efficiently donePerformance Appraisals at their practices:- Performance appraisals at bop were taken in the mid of the year and at the end of the year in june and in december which we may called semi annually.The employees were rated by their superiors particularly in branch by their operational managers and chief managers who appraised them by short listing their reasent past performance.
  7. 7. Performance measurement categories were used which are mentioned above The annual increments of the employees were on the basis of the performance appraisal results and also the raise in the salary of the employees is also on the basis of the performance appraisal. The promotions of the employees were also done by short listing the last three (3) years performance appraisals and also the EID bonuses were increased or decreased by using relative information of the performance appraisal systems. They do not use the 360* approach because this is expensive process and also time consuming.Medical facility for employees:- BOP contracted with the Allianz EFU insurance company for facilitating the employees if their would be any uncertain health problem of the employees and as well as their familiy Shifa international hospital and maharoof international hospital were on their panel. Loan for employees:- Staff car loan House buliding finance loan General purpose loan (QCL) quick cash loan