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Our Approach to Labour Practices and Decent Work responsibility

The human capital policy of Commercial Bank of Ceylon PLC is based on the recognition that its people are its most valuable asset. Prudent development, deployment and management of its human resources have been a key contributor to the Bank’s record of success. We have found that sensitivity to the needs and aspirations of individual employees is as conducive to successful human resources management as an accurate assessment of employee capabilities, potentials and attitudes.

Our Policy The Bank aspires at all times to be the employer of first choice in its industry. This constant policy drives all human resources planning and activity.

Recruitment and Assignments

As discussed before, recruitment to the staff of Commercial Bank occurs at two entry levels. Employees join either as Banking Trainees or as Management Trainees. Mid-career recruitment takes place only in relation to specialised job positions. Please refer the Section on ‘Recruitment Methodology’.

Wages Policy and Labour Management Relations

The policy and regime adopted by the Bank with regard to wages is based on collective bargaining agreements covering specific categories of employees, and on market surveys carried out from time to time. These were discussed in detail under ‘Compensation and Benefit Strategy of the Bank’.

Occupational Health and Safety

Dealing responsibly with the issues of work-life balance of our employees requires a serious, holistic approach. The physical and mental well-being of our staff is important to us, especially considering the stressful effects of the performance driven culture. Effective counselling for needy employees plays pivotal role in this respect. For us, at Commercial Bank, promoting the well-being of our employees is considered as a long-term investment.

Towards achieving the objective of a healthy workforce, the Bank has in place a comprehensive medical insurance scheme for all permanent employees for indoor treatment in addition to reimbursement of outdoor medical bills at the Bank’s expense.

Diversity and Equal Opportunity

The Bank’s recruitment and career development policies provide equal opportunities for all citizens in the country, irrespective of their race, religion, caste or gender. Further, staff members are given an opportunity to join an employee association of their choice. These associations bring the voice of their members before the management at various forums.

Training and Education

All newly recruited employees are inducted through a comprehensive orientation programme prior to their placement. Further, they are provided with on the job training based on standard training modules in addition to customised training programmes as needed.

Gender and Wages

The Bank does not discriminate with regard to gender when remunerating employees. Basic salaries are dependent on the respective grade of the employee and performance, with no gender-based differentiation whatsoever.

Goals and Performance

Stemming from its Policy, the Bank’s goal is to aspire at all times to be ‘The Employer of First Choice’. The level of its achievement may be measured by indicators such as employee turnover, average rates of promotion and absenteeism, employee satisfaction, self-reporting, etc.

Through the compassionate management of its human capital, the Bank creates a dedicated team that is passionate about what they do. Thus our ‘optimal team’ initiates, directs and synergises its common creativity towards achieving continuous excellence and greater levels of customer satisfaction.

In this process, the Bank enacts the UNGC Principles on Labour Practice as a base from which we constantly explore further enhancement of our human capital. (See UNGC Principles.)

Organisational Responsibility

The Bank’s HR function is headed by the Deputy General Manager - Human Resources, a member of the Corporate Management team. He is assisted by a Chief Manager and two Senior Managers on aspects related to Human Resource Management and Human Resource Development.

Training and Awareness

The Bank is committed at all times to ensure that its people develop to their utmost potential and to equip them to face challenges ahead effectively and with dignity.

Towards this objective, the senior staff members of the Human Resource Management Department are regularly trained on current procedures relating to labour laws and regulations including training on diversity, equal opportunities and gender sensitisation. They guide the other members of staff who need their assistance.

Monitoring and Follow up

At the beginning of each calendar year, the Staff Development Centre (SDC) of the Bank carries out a training requirement analysis for staff at all levels on a need basis. The SDC subsequently monitors the participation of nominees and obtains feedback, which is used for future improvements and identification of new training needs to cater to the dynamic requirements of the business environment.

Key Performance Indicators of Labour Practices and Decent Work Responsibility

Employment

Total by Employee Type, Contract, Region and Gender

The tables and graphs given below provide information on total workforce by region, employment type, age analysis, service analysis, gender and contract.