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HRM Awards 2007
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HR GOLD AWARD - COMMERCIAL BANK WAS ADJUDGED AS ONE OF THE TOP 10 COMPANIES WITH BEST HR PRACTICES
The HRM Awards 2007 was conducted by the Association of HR Professionals (HRP) together with the Hewitt Associates to benchmark the best HR practices of local companies as against the best practices in the global context. Hewitt Associates, the leading expert on human capital issues for many of the world's largest companies with more than 65 years of experience and as the content partner for the study, brought a unique approach, methodology and tools developed from years of research to help participating organisations to build effective HR systems designed and also to achieve business and people objectives. The HRM Awards 2007 - Super 10 highlighted the value and potential of human resources and the importance of equipping them with skills and competencies through which they may be strategically managed to ensure efficiency and productivity. This prestigious event on the HR calendar was concluded recently at the Hotel Cinnamon Grand in Feb 2008. The “Commercial Bank – HR” was rated as the top ten Companies and received a Gold award that emphasises the value of innovative strategies adopted and practiced by the HRM Division of ComBank. We express our sincere appreciation to all employees of the Bank who are the reason behind this achievement. Given below is a brief ouline about HR practices at ComBank.
We, at Commercial Bank of Ceylon, follow the knowledge management principles leveraging on our technological capabilities and knowledge of people, to maintain its competitiveness in the ever increasing banking & finance industry. The industry competitiveness is generally being assessed in terms of sustainable superior performance, creating greater convenience to customers and enhanced market share, whilst maximizing shareholder value creation. Hence, our deliberations synergically sum up knowledge, intelligence sharing, intellectual property and experience to create value. The HRM Division’s mission statement is vertically aligned to the mission of the Bank and horizontally aligned to the knowledge management drive of the bank, which is “Orchestrating people talents and organizational capabilities to inspire robust performance and greater convenience to people”.
HR at the Bank is built on four pillars:
Acquiring a desired workforce
Capacity Enhancement
Strategic alignment, Establishing accountabilities and rewards
Caring & well-being of Staff
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Awards for Human Resource Management
 Overall National HRM Award (Large Services Sector) - 2003
National HRM Award for Most Innovative HR Practice (Large Services Sector) - 2003
Overall National HRM Award - 2002
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Commercial Bank of Ceylon PLC, became the Overall Winner of the coveted ‘National HRM Award-2002’, at the first ever National HRM Awards Convention held recently.
The competition was jointly, organized by the Institute of Personnel Management Sri Lanka, Post Graduate Institute of Management and Association of Human Resource Management Professionals. About 47 companies including several blue chips, multinationals took part in the second and final round of this competition.
This National Achievement compliments several other national and international accolades received by the Bank, for its excellent business performance over the last few years. It also signifies the high degree of professionalism maintained by the Bank, in the management and development of its people, as well as the level of excellence of its HRM /HRD systems and procedures. Further, this coveted National HRM Award, is a recognition of its proactive, employee friendly policies as well.
Commercial Bank, has consistently maintained that people factor has always been one of their most critical contributory factors which paved the way to reach great heights. In this context, it has made significant investments to provide its people with a conducive & motivating work environment, with accent on continuous learning and improvement.
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Particularly, the Bank has a well equipped Staff Development Center (SDC)- its HRD Arm, which now caters not only to the internal staff, but also to several other banking and mercantile institutions as well”. In November 2002, the Bank signed a Memorandum of Understanding with Asian Institute of Technology (AIT) Bangkok to bring high quality programs within easy reach of the Sri Lankan corporates, under the aegis of the SDC.
Commercial Bank proposes to make use of this opportunity to review its own HRM /HRD and further improve them by benchmarking against international standards, in order to become a world class organization.
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