The document provides information about Bank ALFALAH Limited, including its vision, mission, background, human resource policies, and responsibilities of the HR department. Some key points:
- Bank ALFALAH was established in 1998 and is now owned by an Abu Dhabi-based family, with a vision to be a premier financial services organization locally and globally.
- The bank aims to deliver innovative products and exceptional service quality to strengthen its brand and maximize stakeholder value.
- Its human resource policies focus on talent acquisition, performance management, compensation, and employee engagement to position itself as an 'Employer of Choice'.
- The HR department handles recruitment, policy making, retention programs,
The document provides information about Bank ALFALAH Limited, including its vision, mission, background, human resource policies, and responsibilities of the HR department. Some key points:
- Bank ALFALAH was established in 1998 and is now owned by an Abu Dhabi-based family, with a vision to be a premier financial services organization locally and globally.
- The bank aims to deliver innovative products and exceptional service quality to strengthen its brand and maximize stakeholder value.
- Its human resource policies focus on talent acquisition, performance management, compensation, and employee engagement to position itself as an 'Employer of Choice'.
- The HR department handles recruitment, policy making, retention programs,
The document provides information about Bank ALFALAH Limited, including its vision, mission, background, human resource policies, and responsibilities of the HR department. Some key points:
- Bank ALFALAH was established in 1998 and is now owned by an Abu Dhabi-based family, with a vision to be a premier financial services organization locally and globally.
- The bank aims to deliver innovative products and exceptional service quality to strengthen its brand and maximize stakeholder value.
- Its human resource policies focus on talent acquisition, performance management, compensation, and employee engagement to position itself as an 'Employer of Choice'.
- The HR department handles recruitment, policy making, retention programs,
Presented by: Ali Tariq University of Central Punjab
Vision statement of the Company The vision statement of Bank ALFALA is to be a premier financial services organization, operating both locally and globally, offering a complete range of financial products and services to diverse segments under one umbrella.
Mission statement of the Company Mission To develop & deliver the most innovative products and deliver exceptional service quality which contribute to strengthening brand equity strength and maximize value for the stakeholders of the Bank.
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
INTRODUCTION OF THE COMPANY: Background: Bank of Credit and Commerce International (BCCI) was a Pakistan based bank, established by Mr. Agha Hassan Abdi from UBL, in association with U.A.E and Europe. BCCI has its branches in 74 different countries of the world. It had its 3 branches in Pakistan. In 1991, the BCCI was banned, when it was accused by European countries that the bank was involved in some illegal operations with Gulf countries. The major reason behind European accusation was the BCCI was of Islamic mode. Therefore, the bank was closed due to international pressure. Then, its 3 Pakistani branches were taken over by the Government of Pakistan, which were named as Habib Credit and Exchange Bank (HCEB) and these were working as subsidiary of Habib Bank Limited. Following the privatization in July 1997, Habib Credit and Exchange Banned assumed the new identity of bank Alfalah on February 25, 1998. It is now Abu Dhabi based bank as the family of Sheikh Nahayan Mubarik Al Nahayan purchased 70% of its shares and 30% shares remained with Habib Bank on behalf of Government of Pakistan. The development of various sectors in Pakistan. The bank has already made significant contribution in building and strengthening both corporate and retail banks sector in Pakistan. Assessment of the needs and wants of customer is an ongoing process at Bank Alfalah, which help to centennially develop new products of services. Designing the product portfolio in response to royal patriot, royal custodial, Alfalah car finance, Alfalah repee traveller cheques, home loans are prime example of quality innovation providing timely banking opportunities to customer. To continuously offer courteous, professional and advanced banking solution the team of bank has recently been rejuvenated by going through training programs with focus to information technology. With their key indicators of progress a steady soaring to new heights, the bank is committed to dedicate all its energies, resources and time to bring higher value and satisfaction to their customers and employers. The graph of the bank is going up and up every year. The ratio of profit is increasing at a good percentage. The bank is serving the people at high level of standard by according to expectation of customers.
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
Human Recourse policies of the Company: According to 2013 Annual report the year 2013 was a transformative, productive one for the Human Resources and learning Group at the bank. Whilst developing and strengthening one of the best trams of HR professionals in the industry, our focus remained on improving delivery channels for our internal customers in order to position ourselves as a Employer of Choice. Significant efforts were placed in the areas of Talent Acquisition, performance Management, Compensation, HR Insights, Organizational Development and learning. With the banks aggressive expansion and restructuring plans. Talent Acquisition has been the foremost priority of HRLG. While inducing resources, our focus remained on quality, skill set and experience to match job profiles. Organizational structures were reviewed to assess optional resource utilization and enhance efficiency. The policy framework for performance management and compensation was revised with the objective of inculcating a strong performance culture at the bank and benchmarking ourselves with the best in class in the market. The revised performance management framework establishes objective based performance measures, geared towards rewarding performance at all levels. HRLG also focused on Organizational Development aspects, through the initiation of the Job evaluation exercise, in order to benchmark jobs with international standards vis--vis the banking industry in Pakistan. The exercise will assist in the standardization of jobs through proper scoping skill set, knowledge, know-how and accountability levels. The bank conducted its first ever Employee Engagement Survey in collaboration with an internationally recognized firm in 2013. The objective was to determine the engagement level of the banks key asset (its human resource) and devise a roadmap for improving this score on a year on year basis. HR Insights is another key initiative of HRLG, whereby internal customers were supplied with various insights on HR activities at regular intervals, in order to facilitate them in timely and informed decision making. The banks learning and Development function has been reorganized and its policy framework has been re-visited to improve the quality of our learning programs. We are moving to a model that relies on identifying and assessing learning needs so as to provide customized learning opportunities. Looking ahead, HRLG will continue to strive to deliver upon its goal of recruiting, developing and retaining top tier talent at the bank and hence fulfil its role as a facilitator and partner for the various businesses. Source: Annual report 2013 http://www.bankalfalah.com/cltp-content/uploads/2013/02/Bank-Alfalah-Annual-Report-2013- 00.pdf
HUMAN RESOURCE MANAGEMENT:
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab The policies and practices involved in carrying out the People or Human Resource aspects of a management position, including recruiting, screening, training, rewarding, and appraising
The concepts and techniques need to carry out the people or personal aspects of management job are:-
1. Conducting job analyses (determining the nature of each employees job) 2. Planning labour needs and recruiting job candidates 3. Selecting job candidates 4. Orienting and training new employees 5. Managing wages and salaries (compensating employees) 6. Providing incentives and benefits 7. Appraising performance 8. Communicating (interviewing, counselling, disciplining) 9. Training and developing managers 10. Building employee commitment
HRs Definition at Bank Alfalah:
We Are Struggling For People.
HRM DEPARTMENT & BANK ALFALAH
Like other organizations HRM department acts as the mind of the organization. Without the HRM department Bank Alfalah cannot imagine being able to function. At Bank Alfalah, HRM has great significance, everybody depends on this department for the entire organization to work and succeed in its mission. Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
Human Resource Department-Hierarchy
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
RESPONSBILITIES OF HR OFFICER:
Following are the responsibilities of HR Officer in Bank Alfalah:-
1. Recruitment And Selection 2. Policy Making 3. Retention Program 4. Improve Working Relation Of Employees
HRM Management Responding To Changing Environment:
Bank Alfalahs HRM Management is responding to changing environment by
Bank Alfalah has following competitive advantages over its competitors:
1. Strong Pay Structure 2. Retention Program 3. All Banking System Based On It 4. Select People From Top Universities 5. Account EI Has 30 Years Work Experience
JOB ANALYSIS
The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it
Job Analysis includes:
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab 1. Job Description 2. Job Specification
Job Description:
A list of jobs duties, responsibilities, reporting relationships, working conditions, and supervisory responsibilities
Job Specification:
A list of jobs human requirements, that is, the requisite education, skills, personality, and so on
METHODS OF COLLECTING JOB ANALYSIS INFORMATION
There are two methods of collecting Job Analysis Information:-
1. Interviews 2. Observation INTERVIEWS
A procedure designed to obtain information from a person through oral responses to oral inquiries
Who Conducts Interview?
Interviews are taken by the branch HR head responsible for recruitment and selection
Following is the criteria for selecting candidates in Bank Alfalah based on:
1. Communication Skills Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab 2. Present Personality 3. Educational Background (etc.) 4. Skills And Competency INTERVIEW QUESTIONS
1. Why Should I Hire You? 2. Why Do You Want To Work For Us? 3. Whats Your Great Strength? 4. Whats Your Great Weakness? 5. 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 Bank Alfalah:
1. By Universities 2. By Website 3. By Coaching 4. By Newspapers Recruitment Process:
Following are the recruitment processes in Bank Alfalah:
1.) Assess need (strategic planning and tactical planning) 2.) Create a pool of candidates: 3.) Screen out candidates: 4.) Make selection 5.) Evaluate recruitment process:
1.) Assess need (strategic planning and tactical planning) Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
There is no fixed quota of number of employees to be recruited, it depends on need and the strategic (organizational) and tactical (branch level) requirements.
2.) Create a pool of candidates:
The prospect candidates are attracted through advertisement in the newspapers, 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 expected results.
TYPES OF RECRUITMENT
There are two types of recruitment in Bank Alfalah:
1. Internal 2. External 1. Internal:
Includes recruiting of already existing employees for new jobs within the organization
2. External:
Includes bringing new blood in an organization. Recruiting people who are new
INTERNAL RECRUITMENT IN BANK ALFALAH
Bank Alfalah normally 1. Less emphasis on Internal Recruitment 2. Existing employees can respond to new job offers as externals Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab 3. Performance appraisals
EXTERNAL RECRUITMENT IN BANK ALFALAH
In Bank Alfalah external recruitment is on
1. Need basis 2. No yearly or monthly recruitments 3. Every branch has its own HR department 4. Head office sanctions recruitment for new employees 5. Adds in leading newspapers (Dawn, Jang) 6. College Recruitment (under planning) 7. Online application forms 8. Short listing 9. Interview 10. Decisions made through head office 11. No help from recruiting agencies
DIRECT INDUCTION OF FRESH CANDIDATES
Through direct induction of fresh candidates, Bank Alfalah is able to employ fresh postgraduate candidates for its organization and the process is as follows:
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
EXPERIENCED PROFESSIONALS
Based on requirements of experienced staff, Bank Alfalah also recruits talent from the marketplace. Bank Alfalah offers competitive salary / benefits to worthy professionals at all levels who wish to join hands with Bank Alfalah. The procedure for selecting such professionals is as follows:
Executive Recruitments:
In Bank Alfalah, Executive recruitments are done by CEO.
Recruitment of MTOs (Management Training Officers):
In Bank Alfalah, recruitment of MTOs is done on Yearly Basis
Recruitment of Internees:
In Bank Alfalah, recruitment of Internees is on
1. Walk-ins 2. Letter of recommendation from college Human Resource Assessment
Bank Alfalah Ltd. has worked hard to build its human resource team and ensure that the quality of newly inducted staff is not comprised with growth. For recruitment and selection banks policy is to hire suitable candidates. By suitable candidates bank refers to candidates having proper educational qualification, experience and background.
Bank Alfalah not only is one of the fastest growing bank in Pakistan, that provides its customers with a number of financial services, but is also a great employer of human resources, that provides its Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab employees with a conducive environment that not only is challenging but also helps them in applying and gaining knowledge.
OREINTATION
The orientation program of Bank Alfalah contains:
1. Introductory Lecture 2. Printed Employee Hand book in Bank Alfalah 3. Time Duration 4. Familiarize new employees with their new jobs, work units and organization in general. BATCH TRAINEES
All employees selected through this process, have to first complete a probation period before given a complete status of a Bank Alfalah employee. The major benefit of this procedure is that Bank Alfalah can employee a large number of employees at a lower cost. The procedure for accepting a batch trainee is as follows:
TRAINING
The process of teaching new employee the basic skills they need to perform their jobs.
Basic Steps in Training:
Following are the basic steps in training employees in Bank Alfalah: 1. Need Analysis 2. Instructional Design 3. Validation 4. Implementation 5. Evaluation and follow up a. Training Mangers and faculty is hired for training purposes. b. Training Mangers are in their respective head offices
The Training Centres of Bank Alfalah:
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab Bank Alfalahs training centers are in Karachi & Lahore. These training centers are responsible for providing multi-level high quality training programs in following areas:
1. Consumer banking operations 2. Credit administration/documentation 3. Trade finance operations 4. Marketing & selling skills 5. Customer service skills 6. Performance appraisal skills 7. Time management & personal effectiveness
TWO SCENARIOS OF TRAINING
Training Calendar:
In Bank Alfalah, Head office devises a calendar according to which they train their employees
Need Basis:
In Bank Alfalah, Branch Manger realizes that specific department lacks in some skill.
TWO TYPES OF TRAINING
On 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 room environment
ON THE JOB TRAINING
On The Job Training in Bank Alfalah is done by
1. Making teams of new employees with a few old specialized Employees. 2. Contribution to overall productivity. 3. Lower cost 4. Lower Time Management Training Officers (MTO) Training Program:
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab In Bank Alfalah, MTOs training program is 3 months On the Job Training & 9 months Off the Job Training.
OFF THE JOB TRAINING
In Bank Alfalah, Off the Job Training is done by
1. In-house training ,done at least once a year 2. Employees from all over Pakistan attend seminars and courses. 3. Employees are tested after the completion of the course 4. Specialist trainers are hired 5. Provide a proper learning environment to the employees 6. Professional faculty is hired 7. Increases employee loyalty 8. Labor productivity is zero 9. Cost is high 10. Time is consumed
Training & Development:
In Bank Alfalah, employee is trained & developed in following different operations:
Evaluating an employees current and / or past performance relative to his or her performance standards Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
The performances of employees are appraised yearly at Alfalah Bank. HR head said that
Performance appraisal helps us in estimating employees current performance, setting work standards and then providing feedback to employees with the aim of eliminating performance deficiencies.
In this service oriented industry behavior is as important as performance on job. To manage behaviors and appraise company has devised a managing behavior system to evaluate their core values. Each employee in such a system is rated against the behavior performance achieved, against the required benchmark applicable, depending on the Job Grade.
PERFORMANCE STANDARDS AT ALFALAH
Alfalah Bank Has laid down the following Performance Standards:
2- 1-Demonstrates Commitment 3- 2-Aligns Activities 4- 3-Promotes Alfalah Long Term Objectives
MANAGING CAREER & FAIR TREATEMENT
In Bank Alfalah, Managing Career & Fair Treatment is based on:
1- Promotion Decision 2- How To Handle Transfer 3- Communication At Alfalah Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab 4- Manage Dismissals PAY PLANS & INCENTIVES AT ALFALAH
Pay Plans:
Pay plans Alfalah are establish on the basis of job ratings. All jobs are ranked from top to bottom, on the bases of compensable factor. Employee with higher rank gets highest pay and incentives.
Compensation Plans for Employees:
In Bank Alfalah, compensation plan for employees includes:
1- Managers and Executives 2- Middle and Lower Level Employees EMPLOYEE BENEFIT & SERVICES
The employee benefits & services provided by Bank Alfalah are
1- Health & Life Insurance 2- Paid Annual Vacations, Leaves, Holidays 3- Health Insurance Of Parents 4- Pension & Provident Fund 5- Discount On Company Products 6- Annual Bonuses 7- Educational Plans 8- Social Events 9- Customized Services 10- Creative, Learning & Healthy Environment Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab 11- Highly Qualified, Experienced & Committed Staff 12- Profit & Gain Sharing Plans Financial Benefits:
The financial benefits provided by Bank Alfalah to its employees are
Severance Pay
Severance Pay is given according to
1- Policy 2- Give Full & Final Settlement 3- Half Salary As A Complementary (Optional)
Supplemental Unemployment Benefits
Supplemental Unemployment Benefits are given
1- During Annual Routine Audits 2- Other Privileges Insurance Benefits:
Bank Alfalah gives insurance benefits on
1- Workers Compensation 2- Complete Life Insurance 3- Hospitalization & Medical Insurance Other Benefits:
Other benefits provided by Bank Alfalah to its employees are
1- Pregnancy Compensation 2- 2 Bonuses For Each Employee 3- Faster Promotion 4- Introduction Of MENTORS 5- Bank Alfalah MOHTISIB 6- Staff Suggestion Scheme Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab 7- Family Community Concept 8- Salary Of Own Choice 9- Job Rotation Facility 10- Prizes & Gifts 11- Refreshment Packages 12- Short Courses & Trainings + Training Material 13- Traveling & Stay Allowances 14- Communication Benefits Retirement Benefits:
Bank Alfalah gives retirement benefits on the basis of
1- Age 2- Pension Plans 3- Provident Fund Facility 4- Early Retirement Window 5- No-golden Offerings & Defined Contrib. Plan 6- No-social Security & Deferred Profit Sharing Services Benefits:
Following services benefits are provide by Bank Alfalah to the employees:
1- Bank Alfalah Mohtisib 2- Lunch & Learn Program 3- Employee Transportation 4- Educational & Training Subsidies 5- Flexible Benefits Programs (Few-limitations) 6- No-subsidized Child & Elder Care
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
EMPLOYEE SAFETY & HEALTH CONTRIBUTION
Bank Alfalah is
1- Strict About Occupational Safety Laws 2- Obeying The OSHA Standards 3- Major Responsibility Br. Manager 4- Routine Safety Audits 5- Inspection & Citations By Head Branch 6- Managing Proper Responsibilities & Rights Of 7- Both Employer & Employee Avoiding the Causes Of Accidents:
Bank Alfalahs management plays an important role in avoiding the three causes of accidents
1- Unsafe conditions 2- Unsafe acts 3- Accident prone people HEALTH PROBLEMS & REMIEDIES
Following are the steps that taken by Bank Alfalahs HR Department to solve the health problems in the organization and make possible remedial changes
1- Smoke Free Environment 2- Role Of Mentors ; Regarding 3- Job-stress , Burn-out , Health Conditions 4- Remedies For VDTS & Other Tools 5- Vaccinations & Health Treatments Other Precautionary Measures:
Other precautionary measures taken by Bank Alfalah for the safety of employees are
1- Personalized Attention To Employees 2- Angry Employees Management Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab 3- Temporary Stop The Working 4- Counseling 5- Real Root Problem 6- Use Of Personal Skills 7- Professional Attitude Adopted 8- Future Avoidance
References
Personal Refernces
Mr. Zulfiqar, Accounts Officer.
(Bank Alfalah Ltd., Wah Cantt Branch)
Mr. Waqas, Customer Services Officer.
(Bank Alfalah Ltd., Wah Cantt Branch)
Web Resources
Bank Alfalah (www.bankalfalah.com) Wikipedia (www.wikipedia.com) State Bank of Pakistan (www.sbp.org.pk) Google (www.Google.com) Reports & Papers
Annual Report Bank Alfalah 2008 Issues in Pakistans Economy by S. Akbar Zaidi International Finance by Maurice D. Levi Bank Alfalah Limited. (2009). Alfalah Mahana Amdan Plus [Brochure]. Bank Alfalah Limited. (2009). Alfalah Quick Finance [Brochure]. Bank Alfalah Limited. (2009). Alfalah Milkiat Finance [Brochure]. Bank Alfalah Limited. (2009). Alfalah Karobar Finance [Brochure].
Final Internship Report on Bank ALFALAH Limited Presented to: sir B.Com (Hons) Presented by: Ali Tariq University of Central Punjab
Internship Report Oninternship Report On UCB Imperial Savings Branding of United Commercial Bank LTD UCB Imperial Savings Branding of United Commercial Bank LTD