Final Internship Report on Bank Alfalah Limited - baixardoc

Final Internship Report on Bank ALFALAH Limited

Presented to: sir B.Com (Hons)

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.




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.




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 bank’s 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-à-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

bank’s 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 bank’s 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:

http://www.bankalfalah.com/cltp-content/uploads/2013/02/Bank-Alfalah-Annual-Report-2013-00.pdf

http://www.bankalfalah.com/cltp-content/uploads/2013/02/Bank-Alfalah-Annual-Report-2013-00.pdf




“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 employee’s 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

HR’s 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.




Human Resource Department-Hierarchy




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 Alfalah’s HRM Management is responding to changing environment by

1. Follow Customers Needs

2. Adopt Continuous Changes

3. Decentralized Organization

COMPETITIVE ADVANTAGES:

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:




1. Job Description

2. Job Specification

Job Description:

“A list of job’s duties, responsibilities, reporting relationships, working conditions, and supervisory responsibilities”

Job Specification:

“A list of job’s 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”

Types Of Interviews Taken:

1. Structured interview only

2. Structured Sequential Interviews

3. Panel Interview

Criteria for Selecting Candidates:

Following is the criteria for selecting candidates in Bank Alfalah based on:

1. Communication Skills




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. What’s Your Great Strength?

4. What’s 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)




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




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 it’s 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 - baixardoc

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