Acquiring a desired workforce

HRM at ComBank, proactively formulate plans in keeping with the rapid business expansion, branch extension and other channel development initiatives, since acquiring a desired workforce is a key component in managing a knowledge-based organization. We closely interact with the line managers to assess any existing skill gaps and review the Bank’s skills inventory, and interact with the business heads to ascertain the knowledge gaps on emerging skills and determine any tactical and strategic HR interventions.

An efficient recruitment and selection process was implemented to procure people with the right skills, knowledge and attitude at the right time, utilizing competency based selection tools to select the most suitable and appropriate candidates with expected behaviour and values. Accordingly, 421 Banking Trainees were recruited in the year 2007. Further, the Bank was represented at many Job fairs and we organized career guidance programmes to attract, portray and also sustain the position of our image as an employer by choice. We continue to recruit batches of Management Trainees to infuse new thinking into the executive cadre of the Bank, whilst promoting the concept of fast tracking.

Job rotation and enrichment is strictly adopted to provide new knowledge and experience to our staff in addition to the systematic staff transfers. In the year 2007, 17% of the staff cadre was rotated. Further, the Bank’s career progression, fast tracking and succession plan initiatives benefited over 10% of staff at various grades in the Bank during the year 2007, whilst making one of the lowest staff attritions in the industry and country.

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Capacity Enhancement

We nurtured and built skills and competencies of our staff at various levels and grades to meet current needs, and to create a wealth of knowledge for future needs of the Bank and also to have a well prepared workforce. During the year we conducted some quality technical programmes for all categories of staff with a view to enhancing their skill levels. We continuously promoted timely and specific training to enhance knowledge in meeting current and emerging business needs, consciously developing a pool of managerial talent equipped to meet strategic needs, succession and drive organisational changes.

Our front line staff interacts with millions of customers and we have equipped them with extensive technical skills, product knowledge, customer convenience skills and developed their personalities for effective customer relations. This year too the Bank continued with the overseas Training programme including study visits to corresponding Banks to create the right exposure for our staff.

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Strategic alignment, Establishing accountabilities and rewards

The success of the Bank largely depends upon how efficiently and effectively the resources are deployed in achieving its objectives and goals which are linked to the direction of the Bank. The performance of its staff has a great impact on the success of the Bank. The Performance Management System (PMS) contributed much to establish a performance driven culture, which facilitated the achievement of targets and sustaining outstanding performance.

Having considered the need to re-look at the PMS and after much deliberation with all the stakeholders, the Bank developed a new PMS format which was implemented in early 2007 and automated in the 4th quarter. The new PMS consists of 4 pillars that are, Goal setting and accountabilities, Review and measurement, Performance feedback & coaching and Integration with other HR processes. With a view to transform corporate and annual plans into individuals and teams, we established a process that holds managers accountable for the achievement of business unit outcomes and the management of all aspects of staff performance. These included clarity in developing goals and measurement, continuous performance monitoring and forced performance ratings. In fact, we moved to the next generation of PMS by introducing an on-line PMS which commenced in 2007.

The new variable pay plan was implemented in early 2007 with a view to fuel the current growth pattern and also to be aggressive in compensation positioning in the market. The variable pay plan is based on key performance drivers, level of performance (Bank and Individual), impact groups, pre announced, earn every year, etc. 2007, marked a watershed year at ComBank where 99.26% of the pensionable employees accepted an Alternate Terminal Benefit Plan in lieu of the defined Benefit Pension Plan. This eased the Bank’s pension Fund immensely.

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Caring & well-being of Staff

We consolidated the 'One-Bank-One-Family' concept, facilitated cultural changes, created excitement in the work environment and motivated and enthused staff with a view to make the ComBank one of the best organisations to work for. We achieved all this by creating an exciting, healthy, safe, caring and productive work environment for various types of staff with high employee engagement. The Bank believes that with a high emotional connection each staff member would feel and be influenced to exert greater discretionary effort to his/her work. Evaluating existing welfare services and proposing initiatives to enhance the well being of staff, gathering information from the line managers to improve work environment of their staff and providing prompt welfare services have also been focused on during the past years.

We also deliberated the introduction of a user friendly and effective grievance communicating process and suitable methods to address such grievances. We also initiated joint events that could be carried out together with all Employee Organizations and made arrangements to obtain the support and involvement of Employee Organizations towards productivity enhancements. These efforts assisted us in maintaining a continuous dialogue, transparency and strong partnership with worker organisations to meet changing business needs and provide due recognition to employee organisations.

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