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hr practices in dfcc bank in Srilanka

hr practices in dfcc bank in Srilanka

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Hrm dfcc bank Document Transcript

  • 1. INDIVIDUAL ASSIGNMENTSOORIYA KARUNANITHIPROFILE OF DFCC 1 HR PRACTICES IN DFFCC
  • 2. 50 Golden years of being the wind beneath the wings of Sri Lankan enterpriseStarting from small beginnings in 1956 and enduring many a storm of change,DFCC Bank today ranks as one of Sri Lanka’s top corporate with sustainedprofits and consistent growth.Acknowledged as being one of the few successful and sustainabledevelopment financing institutions in Asia and the Pacific, the Bank has reasonto be proud of not only its own record of achievement, but also the part it hasplayed on the larger canvas of Sri Lankas economic and social development.During its years in development banking, it has been the financier of many trailblazing Lankan entrepreneurs across all sectors, particularly during their riskyearly stages. Moreover, the Bank’s relentless efforts towards developing thesmall and medium enterprise sector have yielded excellent results particularlyin the provinces fulfilling its mandate to assist SriLankan entrepreneurs realizetheir goals.DFCC Bank’s core activity has been long-term project financing to the privatesector. In response to market opportunities and demands, the Bank’s scope ofbusiness was broadened to include investment banking, fee based services,venture capital, fund management, stock broking, consulting and commercialbanking through subsidiaries and associate companies. Today, DFCC Bankoffers a gamut of financial services to its customers and is continuously lookingfor new horizons, reaching for greater heights and mapping new game plans toreach its vision of being the premier financial services group.VISION STATEMENT OF DFCC: 2 HR PRACTICES IN DFFCC
  • 3. To be Sri Lankas premier financial services groupMISSION STATEMENT OF DFCC: To Provide superior financial solutions and nurture business enterprises, adding value to our customers, shareholders, employees and the nation.VALUES AT DFCC: Accountability Be ethical Passion for innovation &excellence Respect for the individual Social responsibility Team workBRANCH OFFICES IN SRILANKA With the opening of several new branches during the past few years, DFCC Bank is now spread throughout the country. It is well poised to serve a broader segment of provincial clients, especially small and medium enterprises. DFCC’s branches currently serve over 4,300 clients.SERVICES OF DFCC 3 HR PRACTICES IN DFFCC
  • 4. LENDING INVESTMENT BANKING LEASIG DEPOSITS FUND MANAGEMENT AND UNIT TRUST VENTURE CAPITAL INDUSTRIAL ESTATESORGANIZATIONAL STRUCTURE OF DFCC Chairman Deputy Chairman Board of Directors Managing Directors Senior Management Managers Deputy Managers Assistant Manager Executive in charge Senior Executives Senior Marketing Executives Executives Junior Executives Marketing Executives Senior Operations assistant Operations assistant Junior Operations assistant Minor StaffHUMAN RESOURCE PRACTICES IN DFCC 4 HR PRACTICES IN DFFCC
  • 5. Department of human resources is responsible for all procedures related toemployees in DFCC.the HRD will implement hr processHuman resources planning:-Human resource planning or HRP is a process done by which the HRdepartment DFCC bank identifies the number of jobs vacant, whether thecompany has excess staff or shortage of staff and to deal with this excess orshortage.Job analysis & design:-Another important area of HRM is job analysis. Job analysis gives a detailedexplanation about each and every job in the company. Based on this jobanalysis the DFCC prepares advertisements.JOB ANALYSIS“The procedure for determining the duties and skill requirements of a job andthe kind of person who should be hired for it”Job Analysis includes: Job Description 5 HR PRACTICES IN DFFCC
  • 6. Job SpecificationJob Description:“A list of job’s duties, responsibilities, reporting relationships, workingconditions, and supervisory responsibilities”Job Specification:“A list of job’s human requirements,” that is, the requisite education, skills,personality, and so on “METHODS OF COLLECTING JOB ANALYSIS INFORMATION at DFCCThere are two methods of collecting Job Analysis Information:- Interviews Observation INTERVIEWS“A procedure designed to obtain information from a person through oralresponses to oral inquiries”Who Conducts Interview?“Interviews are taken by the HR head responsible for recruitment andselection” Types of Interviews Taken BY DFCC • Structured interview only • Structured Sequential Interviews • Panel InterviewCriteria for Selecting Candidates:Following is the criteria for selecting candidates in DFCC based on: 6 HR PRACTICES IN DFFCC
  • 7. Communication Skills Present Personality Educational Background (etc.) Skills & Proficiency Competence Learn ability Qualifications & Academic excellence Analytical Ability Team Working Aptitude Leadership Potential Communications Skills Innovation SkillsINTERVIEW QUESTIONS Why Should I Hire You? Why Do You Want To Work For Us? What’s Your Great Strength? What’s Your Great Weakness? How Much Salary Do You Expected From Us?RECRUITMENT “The development of a pool of applicants for jobs in the organization”Sources of Job Recruitments:Following are the some sources of Job Recruitment in DFCC By Universities By Website By Coaching By NewspaperFollowing are the recruitment processes in DFCC 7 HR PRACTICES IN DFFCC
  • 8. 1.) Assess need (strategic planning and tactical planning) 2.) Create a pool of candidates: 3.) Screen out candidates: 4.) Make selection 5.) Evaluate recruitment process1.) Assess need (strategic planning and planning)There is no fixed quota of number of employees to be recruited, it depends onneed and the strategic (organizational) and tactical (branch level)requirements.2.) Create a pool of candidates:The prospect candidates are attracted through advertisement in thenewspapers, on the website online and also the walk in.3.) Screen out candidates:Through interviews and tests they screen out the less attractive candidates.4.) Make selection:After further interviews and other processes the final candidate is selected.Questions in an interview are made by doing proper job analysis of the job.That includes identifying the job duties and requirements.5.) Evaluate recruitment process:Evaluate effectiveness of recruitment by comparing the results to expectedresults.TYPES OF RECRUITMENTThere are two types of recruitment in DFCC 8 HR PRACTICES IN DFFCC
  • 9. 1. Internal 2. External1. Internal:“Includes recruiting of already existing employees for new jobs within theorganization”2. External:“Includes bringing “new blood” in an organization. Recruiting people who arenew”INTERNAL RECRUITMENT IN DFCCDFCC normally• Less emphasis on Internal Recruitment• Existing employees can respond to new job offers as externals• Performance appraisalsEXTERNAL RECRUITMENT IN DFCCIn DFCC external recruitment is on • Need basis • No yearly or monthly recruitments • Head office sanctions recruitment for new employees • Adds in leading newspapers • College Recruitment (under planning) • Online application forms • Short listing • Interviews • Decisions made through head office • No help from recruiting agenciesThere is probation period as one year. During this probation periodapprenticeship programs are intended to give young employees the 9 HR PRACTICES IN DFFCC
  • 10. opportunity to acquire skills and obtain qualifications. And they are stronglymonitored that their performance, conduct, attendance. If management willbe satisfied on their performance work will be confirmed.Medical examination should be done before the confirmation.Management reserves the right to terminate service end of the probationaryperiod or to extend probationary period further 3 or 6 months if necessary.Management is not bound to give reason to terminate service.Employee wish to leave after probationary period who need not give any priornotice or any reason. But management appreciates employees to feedback onthe reason.Employees have to give 3 months notices tainting or paying back 3 months’salary in the view of notice.After resignation received HR department arrange for exit interview to getfeedback on employee’s tenure with the bank.COMPETITIVE ADVANTAGES:DFCC has following competitive advantages over its competitors: Strong Pay Structure Retention Program Select People From Top Universities Have 30 Years Work Experience board of directorsTo be aware their authorities &responsibilities Staff hand book, department instruction manual, HOIB and office instruction circulars which are given to the staff to study in order to get know their job. Staff can contract human resource department for any clarification. Inductions programs will be from time to timeOREINTATION AND TRAINING FOR NEW RECRUITS 10 HR PRACTICES IN DFFCC
  • 11. The orientation program of DFCC contains for new recruits: Introductory Lecture( first 3 days) Printed “ Employee Hand book” in DFCC 14.5 Weeks (Training) Tech Courses, Live Projects Time Duration Familiarize new employees with their new jobs, work units and organization in general. Soft Skills Development Best Practices. Involve Customers, Learn by Practice, Integrated learning, group learning, measure & act, curriculum review etc.TRAINING & DEVELOPMENT“The process of teaching new employee the basic skills they need to performtheir jobs.”It is done locally and abroad. The HR manager identifies training anddevelopment needs through performance appraisal process. Training anddevelopment need addressed by Assessment development center (ADC) inhead office of DFCC bank.Bank recognizes and encourages self study in areas deemed relevant by thebank job rotations and placements in companies within the group or outside.Some training methods available at DFCCClassroom trainingVideo trainingOnline trainingField training.Training has been important aspect of the strategy adopted by the Bank toenhance quality of human resources. Indeed, continued training and theprocess of learning have played a vital role towards successful accomplishment 11 HR PRACTICES IN DFFCC
  • 12. of the mandated responsibilities in recent times. By providing the memberswith an opportunities for acquisition & enhancement of skills, linking thelearning Process with result. .Basic Steps in Training:Following are the basic steps in training employees in DFCC• Need Analysis• Instructional Design• Validation• Implementation• Evaluation and follow up- Training Mangers and faculty is hired for training purposes.- Training Mangers are in their respective head officesTWO TYPES OF TRAININGOn The Job Training:“Training a person to learn a job while working on it”Off The Job Training:“Training an employee to learn a job while providing him a class roomenvironment”ON THE JOB TRAINING“On The Job Training” in DFCC is done by Making teams of new employees with a few old specialized Employees. Contribution to overall productivity. Lower cost Lower Time 12 HR PRACTICES IN DFFCC
  • 13. OFF THE JOB TRAININGIn DFCC, Off the Job Training is done by In-house training ,done at least once a year Employees from all over SRILANKA attend seminars and courses. Employees are tested after the completion of the course Specialist trainers are hired Provide a proper learning environment to the employees Professional faculty is hired Increases employee loyalty Labor productivity is zero Cost is high Time is consumedManagement Training Officers (MTO) Training Program:In DFCC MTO’s training program is 3 months On the Job Training & 9 monthsOff the Job Training.In DFCC, employee is trained & developed in following different operations: Consumer Banking Operations Credit Marketing & Credit Proposals Credit Administration/Documentation Trade Finance Operations Marketing & Selling Skills Customer Services Skills Performance Appraisal Skills (Self Appraisal) 13 HR PRACTICES IN DFFCC
  • 14. Time Management & Personal EffectivenessTraining and Development approachesPost Induction Training: All new recruits are exposed to this trainingmodule in order to familiarize them with the main functions of centralbank as well as economic management in general.Foundation Courses: These specially designed courses aimed atequipping all the officers of the DFCC bank with basic understanding ofthe Banking are mandatory. An officer cannot become eligible forpromotion to the next grade unless he/she has successfully completedall the modules prescribed in the Foundation courses.Management Training: As most of theDFCC’s staff is professionals, theyneed to be trained in the basic techniques and tools of managementtheory and practice. These courses also help in identifying potentialmanagers for the institution.Foreign Training: In order to expose their officers to latest tools oftrade, international best practices and advanced knowledge, officers arealso sent for foreign training to institutions like World Bank Institute,SEACEN, BIS, Center for Central Banking Studies, IMF Training Instituteas well as a host of other renowned international training centers. Anumber of these training Opportunities are funded through TechnicalAssistance Program from Asian Development Bank as well as WorldBank.IT Skills Training: Given the shift to an automated work environment,training in IT related skills, ranging from basic computer training toadvanced skill acquisition on banking applications, databasemanagement etc. are considered imperative. This form of training isoutsourced from training institutions.Specialized Training: Besides enhancement of general skills throughinstitutional training programs, there are many department-specifictraining needs. Here the directors of respective departments have beenauthorized to identify training needs specific to their requirements anddevelop programs, which are funded through departmental budgets.This arrangement not only provides flexibility to departments but also 14 HR PRACTICES IN DFFCC
  • 15. allows them to follow a more focused approach towards enhancement of skills necessary for specific work environment. Performance Status of Training Initiatives The results of concerted effort aimed at realizing the full potential of employees towards the objectives of professional growth & acquisition and continued enhancement of the knowledge base are beginning to show some gains. Almost all officers have been provided foundation courses, training and exposure to current knowledge in the fields relevant to the context of DFCC Bank. As cost-benefit evaluations are also at the core of choices & available options, especially in respect of training opportunities abroad, a structured approach has been adopted internally for dissemination of knowledge gained through reports, write-ups and presentations affording cross functional interactions.PERFORMANCE APPRAISAL SYSTEM“Evaluating an employee’s current and / or past performance relative to his orher performance standards”The performances of employees are appraised yearly at DFCC. HR head saidthat 15 HR PRACTICES IN DFFCC
  • 16. “Performance appraisal helps us in estimating employee’s currentperformance, setting work standards and then providing feedback toemployees with the aim of eliminating performance deficiencies”.HRD of DFCC is done evaluate process is the interview between two of staffson their individual performance, training needs and career path with the bank.The performance management process is constantly reviewed and modified tocapture every detail of employee’s performance as meaningfully as possible.As a result, the existing system and process could change from time to time.APPRAISAL METHOD AT DFCCThe Appraisal Methods at DFCC 1. Self Appraisal Method Ratting Evaluation 2. Problems during Appraisal Unfair Assessment (Bias)BEHAVIOR APPRAISALIn this service oriented industry behavior is as important as performance onjob. To manage behaviors and appraise company has devised a managingbehavior system to evaluate their core values. Each employee in such a systemis rated against the behavior performance achieved, against the requiredbenchmark applicable, depending on the Job Grade.PERFORMANCE STANDARDS AT DFCCDFCC Has laid down the following Performance Standards:1-Demonstrates Commitment2-Aligns Activities 16 HR PRACTICES IN DFFCC
  • 17. 3-Promotes DFCC Long Term Objectives.PromotionsEmployee’s merit performance will be the major deciding factor and notemployee’s seniority in the grade. And its depend on vacancies or expansion ofthe bank’s business activities.Compensation planning and remunerationPay Plans:Pay plans DFCC are establish on the basis of job ratings. All jobs are rankedfrom top to bottom, on the bases of compensable factor. Employee withhigher rank gets highest pay and incentives.Compensation Plans for Employees:In DFCC, compensation plan for employees includes: Basic Salary Bonuses Medical Facilities AllowancesIncentive Plans:In DFCC, incentive are provided to Managers and Executives Middle and Lower Level EmployeesEMPLOYEE BENEFIT & SERVICES 17 HR PRACTICES IN DFFCC
  • 18. The employee benefits & services provided by DFCC are Health & Life Insurance Paid Annual Vacations, Leaves, Holidays Health Insurance Of Parents Pension & Provident Fund Discount On Company Products Annual Bonuses Educational Plans Social Events Customized Services Creative, Learning & Healthy Environment Highly Qualified, Experienced & Committed Staff Profit & Gain Sharing Plans Remuneration Compensation package Salary + monetary benefits & non monetary benefitsSalarySalary may be adjusted by board of directors periodically after market survey.Employee should treat his/her salary confidentially.Salary is paid on 25th of every month and it is sent to the staff’s bank account.Annual salary incrementsBoard of directors determines the increment pool annually based onperformance during the year which is evaluated through a comprehensiveperformance appraisal process.Travelling reimbursement. 18 HR PRACTICES IN DFFCC
  • 19. It is depend on employee’s grade. This travelling allowance treated asemployee income and is taxed.Grade Allowance per monthVP-I 45000VPII 37500AVP 26000SPE 13800PE 11730ET/MT 7800NE-supra 6750NE-special 5250Ne-I &II 4500NE senior office aid 3960Senior office driver 2640BonusBOD decides bonus based on employee performance end of the each year.Other benefitsIt’s contribution to employee provident and trust funds. In gross salary 10% isto mercantile service provident society (MSPS).the corresponding contributionby the bank will be 15% AND 3% goes to EPF.Staff loansPermanent employees are eligible to obtain a number of financial loans.Vehicle loanVehicle loan will available from first day and its maximum repayment period is7years.Grade loan 19 HR PRACTICES IN DFFCC
  • 20. VP-I 1 200 000VP-II 1 200 000AVP 800 000PO & SPO 600 000Non executive 200 000Minor staff 100 000Housing loanPermanent employees have to completed 2 year to obtain housing loan . theinterest rate is 4%.Staff grade Maximum loanEVP& SVP 3 500 000VP 2 500 000AVP 2 000 000PO & SPO 1 500 000Non executive 1000 000Minor employees 500 000Miscellaneous loansEmployees can get allowance not exceeding 75% of the bank’s contribution toMSPS plus three months gross salary for miscellaneous purpose at fixed rate of8.5% per annum. Repayment period is 10 years.Holiday grantStaff eligible to claim a some equivalent to 25% of the gross salary as vacationallowance once in each financial year to quality for this allowance every staffshould take 5 continuous working days of annual leave during the year. 20 HR PRACTICES IN DFFCC
  • 21. Festival advanceIt is offered 5000 as festival advance either New Year or Christmas once year ineach year. This is recoverable in 10 equal monthly installments.Subscriptions to physical fitness club/social clubs.To encourage in social activities, be healthy and physically fit, the bank willreimburse all or part of subscription fees.EVP 30000SVP 25000VP-I 20000VP-II 15000All other staff 50% of subscription Reimbursement of utilities Gas, electricity, water, foreign & local telephones calls ,telephone rentals,email, and internet charges under the specified limits which will deferaccording to the grade level.EVP 15000SVP 12000VP-I 10000VP-II 6000AVP 6000Emergency medical call serviceIt available for 24 hours emergency medical service 21 HR PRACTICES IN DFFCC
  • 22. Reimbursement of educational expensesEmployee will be entitled to a reimbursement of 3000 on the successfulcompletion of examination held at the end of a course of study.MBA programmesPermanent executive staffs follow MBA, CFA, CBF, ACBF, and DBF. For whichthey will be entitled to finanancial assistance up to a maximum 100000.ths willrecoverable in 48 equal monthly installments.Reimbursement of installation cost of telephoneMembers of the management grade are entitled reimbursement of installationcost of one telephone for personal use. The cost so reimbursement should bepaid back to the bank on retirement/resignations.Provision of official vehiclesEVP,SVP and branch managers are provided with the bank expensed vehicleswith unlimited fuel.Reimbursement of allowance paid to personal drivers.EVP,SVP,VP(grade –I)and branch managers are entitled for reimbursement ofallowance paid to personal drivers.EVP 15000SVP 10000VP-I 10000 22 HR PRACTICES IN DFFCC
  • 23. Perquisites for BMVehicle- provision of company expensed vehicle with unlimited fuel.Driver-reimbursement of private driver’s salaries up to a maximum of RS 10000per month as well as ex-gratia payments for working extra hours up to amaximum of RS 1000 per month.House-provision of a house on which the monthly rent payment should notexceed RS 10000.Furniture-not exceeding 250000Cellular telephone-maximum bills RS3000Allowance-provision of branch managers‘s allowance RS 7000.and 5000respectively for BM of VP,AVP.Rent allowance for branch executiveBE will be paid rent allowance of 3600.Medical reimbursement schemeEmployees are entitled to non –contributory comprehensive outdoor medicalscheme. The bank will reimburse medical expenses when he submits doctor’sprescriptions together with the relevant receipts within 3 months.category B CEVP/SVP 24000 16000VP/AVP 20000 16000All other executives 15000 15000Non executive 13000 12000Minor staff 11000 9000B-expenses incurred on laboratory tests, dental and ophthalmic treatment.C-expenses incurred on outdoor treatment. 23 HR PRACTICES IN DFFCC
  • 24. Employees are entitled to comprehensive indoor hospitalization insurancecover from the SriLanka insurance corporation.Available benefits Scheme 1 Scheme 2 Scheme 3 Scheme 4 Scheme 5 EVP/SVP VP/AVP SPO/PO Non Minor staff executives 2500 2250 2000 1500 1000Roomcharges perdayHospital 180000 144000 102000 72000 42000and nursinghomemaintenancechargesGovernment 600000 450000 300000 200000 125000hospitalallowanceTotal limit 180000 144000 102000 72000 42000for one yearSurgical treatmentsIn every year 5 employees are entitled for surgical treatments up to maximum500000.Mentioned critical events Heart attack Coronary artery disease surgery Stroke Cancer Renal failure Paralysis Multiple sclerosis 24 HR PRACTICES IN DFFCC
  • 25. Primary pulmonary arterial hypertension Fulminal hepatitis Terminal benefitsTerminal benefitsStaff will receive EPF and their contribution to MSPS + bank’s contributionsafter deducting any dues to the MSPS and the bank.GratuityStaff must be minimum 5 years as member in welfare society to get gratuity. Ifa staff is member of welfare and recreation club for 5year,he/she will get up toRs 5ooo .Insurance Benefits:DFCC gives insurance benefits on Worker’s Compensation Complete Life Insurance Hospitalization & Medical Insurance Staff can take an insurance policy to cover unexpected events. It defer based on their grade.EVP/SVP 3000 000VP/AVP 2000 000PO/SPO/MT 1000 000Non executives 300 000Minor staff 200 000DFCC have death benevolent scheme also. That amount is not mentioned byBOD. 25 HR PRACTICES IN DFFCC
  • 26. RECOGNITIONDFCC award of excellence12 employees are selected per year if they do something exceptional, which isbeyond of normal work assigned to them adding value to the bank they coulddominated for this award.GM’s awardIf management recognize particular employee’s contribution to be ofoutstanding significance to the bank he/she could nominated.Award for team effortA dinner voucher to value of 100 is offered to each members of particular teamif they member of winning team.Suggestion plan awardIf any employee suggests that about save time, reduce & eliminate costs, andimprove product quality he/she will nominate for this award.Retirement schemeBasic pension 80% of basic salary in the month prior to retirementCommuted pension 24 times basic pension irrespective of services provided minimum unbroken services is 10 at time of death.Effect of commutation 25% reduction in basic pension for 10 years Death within 10 years no refundedDeath while in Payment of commuted pension or deathpensionable services gratuity.Age Mandatory 55 years 26 HR PRACTICES IN DFFCC
  • 27. Retirement Benefits:DFCC gives retirement benefits on the basis of Age Pension Plans Provident Fund Facility Early Retirement Window No-golden Offerings & Defined Contrib. Plan No-social Security & Deferred Profit Sharing EMPLOYEE SAFETY & HEALTH CONTRIBUTIONDFCC is Strict About Occupational Safety Laws Obeying The BANK’S Standards Major Responsibility – Br. Manager Routine Safety Audits Inspection & Citations By Head Branch Managing Proper Responsibilities & Rights Of Both Employer & EmployeeGeneral working environment conditions in DFCC In the DFCC official work time is 8.30am to 5.00pm from Monday toFriday. Employee has to get permission from line managers to stop work or leave. Lunch break will be given 45 minutes .they has to take lunch in the designated lunch room. If the customers available in the lunch break time, staff must be attended to before the lunch break. One member of division or department or unit is always available to answer to phone. 27 HR PRACTICES IN DFFCC
  • 28. Overtime Staff will be allowed to overtime work. If needed staff must be attended to the bank in weekend’s days. Non executive staffs are entitled for over time payment. Female staff will be provided transportation if they work after 7pm on approval by the head of department.Dress Staff should be smart and tidy in appearance to project of professional image. Clothes should be clean & well pressed fitting. Males wear trousers, long or short – sleeved shirts and matching ties. Females wear saree , draped neatly and modestly. No objective to choosing western attire provided the cloths are smart, well tailored and professional in appearance. They can wear jewellery with their tasteful.SmokingBranches and extension offices are non smoking areas.Personal callsPersonal calls must be avoided or briefed long conversation.TransferThe management has the authority to switch an employee from onedepartment to another or branch in any part of the Srilanka.Temporary assignmentStaff will be ordered for special work in outside related to employee’spermanent work. And they will be paid of certain allowance thatdepends on the circumstance.Business ethicsStaff must be avoid situation in which own interests will conflict withthose of bank or associate company or customers.Staffs not do that bring private interest into conflict with official duty. 28 HR PRACTICES IN DFFCC
  • 29. Insider dealing If employee is officially aware of price sensitive information in relation to such organization. So he/she should be ethically. This insider dealing is a punishable offence. Gifts and inducements Staff should not solicit gifts from clients or external parties during the course of work at bank. Unfair business practices Staff should mindful and ensure that dealing with customer, colleagues and other relevant parties are conducted in a fair manner. Employee should not go back on client their word and in the case of clients. and they make sure all information and information upfront. Credit facilities to close relatives If staff’s relatives apply for facilities from DFCC group companies ,it is incumbent upon to staff to disclose relationship to manager.LeaveAnnual leaveIt will be maximum 21 days. In the first year January to December employeesare not allowed to take annual leave.In second year they are allowed 15 days after 1st April or 10 ½ days after 1st Julyor 6 days after 1st October. Casual leaveMaximum 7 daysIn the 1st year January to December one day for each completed 2monthsperiod of service 29 HR PRACTICES IN DFFCC
  • 30. Medical leaveBank will allow 84 working days for 1st and 2nd children and only 42 days for 3rdchild. no leave for breast feeding.Duty leaveEmployees are allowed to do their personal work at the same time they haveto do their duty in outside of bank.No pay leaveStaffs are entitled to take long leave without salary payment if necessary.Encashing unutilized leaveEmployee can encash their vacation and medical leave up to a maximum of 21days. (Vacation leaves -7 days and medical leave- 14 days)The basis of encashment isNumber of working days of previous year =average working days permonth 12 30 HR PRACTICES IN DFFCC
  • 31. CONCLUSIONHRM managers at DFCC are performing a great job as far it isconcerned Motivating them and looking after the. Along with theother managers and employees.HRM managers are also doing a great job in achieving company goalsand objectives. There is a very calm and friendly atmosphere at DFCCbecause of the HRM department and their policies for keeping theiremployees happy, productive and efficient.They believe thatPositive word of mouth of employees is greatest asset ofDFCC&Future of DFFCC is on employees hands 31 HR PRACTICES IN DFFCC
  • 32. RecommendationsDFCC needs a separate HR department at regional level.Compensation Discrimination should be avoided it will provide motivated employees toDFCC.I observed that the employees were overburdened so they have to stay at branch till lateat night. In this way their efficiency is affected and hiring more employees can reducetheir work.The employees should be signed jobs for specific period and than they should shifted toother department so that they gain knowledge of other jobs.The bank’s management should give more incentives and pay scale of officers should berevised & improved.Better Career Paths should be defined to the employee of DFCCThere should be a less span of control.Performance quantification methods should be improved and should and includesbetter techniques and skillsSpecialized HR Specialist should be hired at top levelSystem and operations should be more defined and organized.Reference-I have gone directly to DFCC’S Jaffna branch to get details about human resourcepractices from assistant manager and I collect about company profile through theinternet (DFCC WED ID). 32 HR PRACTICES IN DFFCC
  • 33. 33HR PRACTICES IN DFFCC