Recognition & Reward Systems

1. Bank of Ceylon, Sri Lanka
Recognition and Reward systems
Prabhath Patabendi
International Center for Research & Development

2. Bank of Ceylon –An Introduction
 Bank of Ceylon is the largest employer in the
banking and financial services sector in Sri
Lanka
( Top 1000 Banks)
 Employee Strength 8,883 employees
located in 567 branches throughout the
country
 Overseas branches : United Kingdom,
India, Maldives and Seychelles.
 Retention rate : 99%.
 http://www.youtube.com/watch?v=zvcHPmh0

3. Key to Financial strength &
Sustainability

4. Connected to People ,
Environment & Social life of all
Sri LankansBanks environment action program
 https://www.facebook.com/bankofceyl
on.lk
Promoting education as an opportunity
to empower people..
 http://www.youtube.com/watch?v=ZxD
eir7hmzM

5. Recognition and Reward
systems & Talent
Management

6. Performance Based Appraisal
& Rewarding System

7. Recognition and Reward
systems…..
Benefits package
 Pension plans
 Loan schemes at concessionary rates to cater to a
variety of needs
 Medical schemes covering family members including
dental
 Payment of fees for higher education and training
programes
 Zero % vehicle loan
 Fully furnished staff quarters
 Cost of living allowances (COL)
 Travelling allowances
 Holiday homes
 Reimbursement of funeral expenses

8. Recognition and Reward
systems
 Profit related bonuses ( Branch level &
overall)
 Product development Ideas ( Bottom
top approach)
 Creation of a new financial products
 Creation of new working systems (
branch wise)
 Process improvement Ideas (IT)

9. Thank you