Hatton National Bank or investment company PLC, your Partner in progress emerged as a commercial loan provider to provide reliable bank services with a view to improving the socio-economic development of the united states.
Today, HNB has the most significant network from among private commercial bankers comprising 200, with more in the pipeline and an ATM network in excess of 275 machines.
Human Learning resource are the most important assets of an organization, a business can't be successful without effectively deal with this tool. Another important concept, articulated by Michael Armstrong in his publication "A Handbook of Individual Resource Management", is that business success "is most likely to be performed if the workers policies and types of procedures of the enterprise are closely linked with, and make a major contribution to, the achievements of corporate aims and strategic ideas. " And also HR's responsibility to find, secure, guide, and develop employees whose skills and wishes are compatible with the procedure needs and future goals of the business.
Armstrong says, "HRM is a tactical method of the acquisition, drive, development and management of the organization's recruiting. It is devoted to shaping a proper corporate culture and introducing programs which mirror and support the key principles of the venture and ensure its success".
Any successful organizations have motivated and enthusiastic employees. Motivated employees tend to be productive, efficient, happier, and stick with the organization longer. Interesting work, company plans, employee pay, job enlargement, job enrichment, special offers, financial and non-monetary compensation should be important links to higher motivations.
Identification of existing techniques in motivation & Critical evaluation
To determination factor, organization must understanding employee needs, what rewards to use to stimulate them. HNB is a bank or investment company; therefore HNB has an advantage motivate their workers without any effects. Because HNB is the main one of the primary loan provider in Sri Lanka, as well as it is large and more developed. Brand and job security are the first think employees are self motivate. And social acknowledgement of when they are working in the lender, another factor to employees are motivate with no effects. Based on the Abraham Maslow's hierarchy of needs theory (370-396), Safety, Friendly and Esteem Needs match above factors. Quite simply, they feel safe becace the business won't bankrupt, concerned with social connections with others and popularity of the folks.
HNB introduced some of the strategies for motivate their employees. Salary and Allowances are one of the strategy HNB launched to encourage their employee. According to the Fredrick Herzburg's two-factor theory, hygiene factor, salary can be act as de-motivators, but if reasonable, their motivational influence is bound without motivators. Basic salary in virtually any category is a lot higher than any industries similar positions. And additionally other allowances, Medical, Oral and Vision for you and eligible family members, Paid and supplemental Life Insurance for you and qualified family members, Paid and supplemental Long-Term disability insurance, retirement savings pension plan feel basic safety from employees. And also fixed periodic salary review is another desire factor released by the lender. Every 3 years, loan provider review employees wages and increase maximum 30% of these salaries. Using these strategies will defeat the unsatisfactory of the hygiene factor, and raise the satisfaction and motivation.
Bonus is other important strategy bank or investment company use to motivate their employees. Three types of bonus offer category can be purchased in the lender, the first category, up to executive level employees are available to maximum three month reward, critically evaluate their performance by the division head. The second category, above the professional level have 'performance bonus offer', it'll critically evaluate by the lender top management. And previous benefit type is 'earnings bonus', this type of bonus qualified to receive all employees in the lender, that will give, only for standard bank director panel decide. That fulfills the Herzburg's two-factor theory; the acceptable is referred to as motivators which include progress, and performance popularity.
Career path is another drive factor standard bank introduce. HNB has plainly defined path to promote the employee.
Trainee Banking Associate -> Banking Associate -> Exec1 -> Professional2-> Professional3->Manager->Senior Manage->Main Director ->AGM ->DGM ->CEO
To proceed through this path, any employee can become the CEO of the lender. Employee can promote three ways - Upon their services, performance and academics and professional certification. Also has that is the major motivation strategy because of, all humans are prefer to go at least one step at today's step. And including expectancy theory of Victor Vroom, he says, specific provides certain degree of performance, and a desirable results is expected called 'instrumentality'.
Low interest loans, holiday and personal leave system, social activities, work place, job enrichment and development, Job rotation, team work, yearend party and trips, staff award system are some of the other motivational strategies to motivate their workers using Human Reference division.
Software builders in the bank are assigned the 'Research & Development' unit in 'ISD'. They are involved in the Non-main structure before, but that's journey is busted now in the bank some reason. Already IT fresh degree holders appointed as 'Trainee software engineer' selected in two time agreement basic. There basic salary was Rs. 20000/= no banking allowances are allowed. After deal is finished, their agreement is extend a different one 12 months and salary increase Rs. 26000/= and no their designation change. NO way to absorb them directly into banking scheme. Normally, specific software developer had to train at least six month for bank systems. Each of them in the agreement basic, therefore no bank facilities are allowed to them in HNB or any other bank or investment company. And normal banker salary is much more than those.
Comparing with software expanding company, as a rookie software designer basic salary is Rs. 40000/=. Very talented Software developer basic salary at least one shortage after three years in software producing company. But standard bank give them to Rs. 26000/=, and after three years their jobs are not certain.
According to two-factor theory's work place, management, salaries and company policies become them directly into unsatisfactory. Unsatisfactory cleanliness factors can act as de-motivators.
To stimulate them and get their maximum, they must need to clearly define route. The structure must change. I purpose contract period is must reduce to two calendar year to six month. Following the six month over, if indeed they perform well, they are simply absorbed in to banking scheme with 'Junior Professional' level and change their designation as 'junior software engineer'. And after three 12 months they perform well, they promote directly into 'Professional level' with designate with 'Software engineer'. And after each three years, considering their performance continuously promoting them, standard bank will can stimulate them and get their maximum.
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