Posted on

Human Resource Management in Organizational Context – Bank of Ceylon

  • View Count. 0

$25.00

Human Resource Management in Organizational Context – Bank of Ceylon

Word count 5513

Category: Tags: , , , , , , , , , , , ,

Description

PURPOSE:

The intent of this assignment is to assess the participants’ ability to comprehend the
key aspects of Strategic Human Resource Management and apply such in an
organizational context in a meaningful manner.

CONTENT:
Select a company of your choice where there is an established Human
Resource Department. Study and analyze the current HR policies and best
HR practices in the organization including critical discussion on the following
areas.

 HR Strategies
 Human Resource Planning
 Ethical and Legal issues in developing HR policies
 Leadership

MEANINGFULLY LINK THE FOLLOWING TO YOUR DISCUSSION:

• Company vision and mission, as they are stated or implied Business strategies in
general, leading to specific HR strategies
• Strengths and shortcomings of existing HR activities and recommendations as
appropriate
• HR performance indicators such as absenteeism, turnover etc. (wherever available
and appropriate)

THE REPORT FORMAT SHOULD HAVE THE FOLLOWING COMPONENTS

• Table of Contents (Such as figures and tables)
• Executive Summary
• Introduction
o Literature Review
o Current practices
• Issues and shortcomings in current practices
• Recommendations
• Conclusion
• References

Additional information

Table of Contents

Executive summary
1.0 Introduction
2.0 Literature review
3.0 Current HRM practices of BOC
3.1 Vision and mission and how it leads to HR strategy
3.2 Management approach
3.3 HR processes
3.3.1 Recruitment and selection
3.3.2 Retaining talents
3.3.3 Training and development
3.3.4 Performance evaluation
3.3.5 Reward management
3.3.6 Employee engagement
4.0 Issues and short coming of current practices
5.0 Recommendations
6.0 Conclusion
References
Preview

Executive summary

In current business context, Human Resource is the greatest assets of any organization. Human Resource Management (HRM) is concerned with all aspects of how people are employed and managed in the organization. HRM consists of different activities such as strategic HRM, human resource planning, human capital management, knowledge management, Corporate Social responsibility, organizational development, performance management, reward management, learning and development etc. This report analyzes comprehensively human resource polices and best practices of Bank of Ceylon PLC (BOC) including critical discussion areas such as HR strategies, human resource planning, leadership and ethical and legal issues.
Secondary research is conducted to refer theoretical background of HRM before evaluating the situation of the organization. Subject related books and journal articles were used to conduct literature review. BOC is the largest employer in the financial sector of Sri Lanka. BOC has multi-generational, multi skilled and highly diversified work force. It is the largest female representation in the banking sector. It has structured framework to conduct recruitment and selection, training and development, performance management and reward mechanism. Employee turnover is very low in BOC, which is a key indication that BOC has successful HRM processes.
This report further identifies shortcomings of HRM of BOC. One of key issues is the lack of female representation in leadership positions. Further, political influence for appointments of chairman and non-executive directors is another issue which could affects bank’s reputation negatively. This report provides recommendations to overcome these issues and provide guidance to achieve its HR strategy.

1.0 Introduction

Bank of Ceylon (BOC) is a state owned leading commercial bank in Sri Lanka. It is the largest bank of Sri Lanka based on the revenue, assets, deposits, market share, branches network and also the number of employees. BOC has the market leadership in the financial service sector by having 64% of customer penetration and having 20% of industry assets, 22% of industry deposits and 23% of industry loan (BOC annual report, 2020). It is the only bank in Sri Lanka which has more than LKR 3 trillion of assets. Currently, the bank has more than 2000 customer touch points including 582 branches (BOC annual report, 2021). All these factors give BOC a competitive edge in financial sector and its reputation and stability over eight decades have made it to number one banking brand of Sri Lanka. Complexity of human resource management has also increased parallel to the size and complexity of the operation.
Bank considers its work force as their greatest assets. BOC has established Human Resource (HR) Department and HRM is driven and implemented by HR department. BOC has 8479 employees spreading over every districts of Sri Lanka and overseas branches. Bank represents gender diversity by having 60% of female representation out of total work force, it is the largest female representation in the banking sector (BOC annual report, 2021). BOC’s work force is multi-talented, multi-generational, gender diverse team which has long term experience in the industry. BOC won Sri Lanka`s best employer brands award in 2020 and Global HR Excellence Awards in 2020 by being the best organization to work for (BOC annual report, 2021). Below charts show the age composition and experience levels of employees.

Related products