Professional Documents
Culture Documents
SUBMITTED TO:
SUBMITTED BY:
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ACKNOWLEDGEMENT
A
ll the praises and thanks are to ALLAH the most beneficent, ever merciful
and king of Day of Judgment. We offer our humblest thanks and special
praise to the HOLY PROPHET MUHAMMAD (PBUH) whose moral and
spiritual teaching a forever source of guidance and knowledge for humanity as a whole
enlightened. We heart and mind and flourished out thoughts towards achieving high ideas
of life.
We feel out first and foremost duty to express our grateful appreciation and thanks to our
teacher, Mr.Ghulam Hussain his illustrious advice, keen interest, encouragement and
constructive criticism were the real source of inspiration during the completion of the
project.
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Table of Contents
EXECUTIVE SUMMARY.................................................................................................4
Chapter No. 1.......................................................................................................................5
Introduction of National Bank of Pakistan..........................................................................5
1.1 History of National Bank of Pakistan..............................................................5
1.2 Vision.........................................................................................................................6
1.3 MISSION STATEMENT ...........................................................6
1.4 Core Values............................................................................................................6
1.5 Functions of NBP ......................................................................................................7
1.6 Departments of National Bank of Pakistan..............................................................10
2.1 History of HR Department.......................................................................................18
2.2 HR Mission .............................................................................................................20
2.3.1 HR Planning:.........................................................................................................20
Chapter# 03........................................................................................................................21
RECRUITMENT & SELECTION....................................................................................21
3.1 NBP Policies:...........................................................................................................21
Chapter # 04.......................................................................................................................24
TRAINING AND DEVELOPMENT................................................................................24
4.1 Orientation:..............................................................................................................24
4.2 Training Policy:.......................................................................................................25
4.3 Training Budget:......................................................................................................28
4.4 Training and Development: ....................................................................................28
4.5 Training Centers of National Bank of Pakistan.......................................................29
PERFORMANCE MANAGEMENT SYSTEM IN NBP.................................................30
5.1 Performance appraisal cycle:...................................................................................31
5.2 Appraisal criteria......................................................................................................31
Chapter No. 6.....................................................................................................................33
REWARD AND REMUNERATION................................................................................33
6.1 Grading structure:....................................................................................................33
6.1 Performance Management:......................................................................................33
6.2 Compensation & Benefits:.......................................................................................34
6.3 Benefits:...................................................................................................................34
Chapter No. 7.....................................................................................................................36
Industrial relationship........................................................................................................36
Discipline Procedure:.....................................................................................................36
Profanity or Indecent Conduct......................................................................................38
Motivation:.....................................................................................................................39
Motivational factors.......................................................................................................40
References..........................................................................................................................41
EXECUTIVE SUMMARY
The NBP was established vide NBP Ordinance No. National Bank of Pakistan maintains
its position as Pakistan's premier bank determined to set higher standards of
achievements. Growth in Deposits was accompanied by increase in Bank portfolio in
advances. NBP advances reached Rs.554.4 million by December 1959, which was one
third of the total schedule bank credit National Bank of Pakistan is the largest commercial
bank operating in Pakistan . In today's competitive business environment, NBP needed to
redefine its role and shed the public sector bank image, for a modern commercial bank.
National Bank of Pakistan is today a progressive, efficient, and customer focused
institution. The Bank has expanded its range of products and services to include Shariah
Compliant Islamic Banking products.
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Chapter No. 1
The normal procedure of establishing a banking bank under the Companies Law
was set aside and the Bank was established through the promulgation of an Ordinance
due to the crisis situation that had developed with regard to financing of jute
Trade. The Bank commenced its operations from November 20, 1949 at six important
jute centers in the then east Pakistan and directed its resources in financing of jute crop.
The Bank’s Karachi and Lahore offices were subsequently opened in December 1949.
State bank of Pakistan after its formation demanded from the Indian Reserve
Bank the assets against the Indian currency retired from Pakistan territory. Government
of India refused to hand over the assets worth about five hundred million rupees. The
dispute is still unsettled and these assets are still not delivered to Pakistan. Until June
1950, the Bank was engaged exclusively on jute operation. Thereafter, it was felt that it
could expand its business to include other commodities as well. Bank took a
big stride in 1952, when it replaced the Imperial Bank of India, as an agent of State Bank
of Pakistan.
With the passage of time its functioning diversified as they take over the function
of different institution with the passage of time like in past they took over the function of
Imperial bank of India and now of NDFC (national development finance corporation)
It is working as the agent of the state bank of Pakistan and performs its functions
wherever state bank of Pakistan is not present.
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The government floated its 10 % of the shares in the open market in past and the
ratio became 60: 40 and in future they trying to make it 55: 45.
In 1999 national bank celebrated its golden jubilee during the last fifty years bank
has made substantial strides in the financial services industry in Pakistan.
In 1999 its market share was around 22% and it remains the largest financial institution in
Pakistan.
1.2 Vision
“To make the Bank complete and competitive with all international
Standard in performing, quality of, operations, staff, financial strength. And products
and services To develop a culture of excellence in every spare of activity of the bank”
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Prudence to guide our business conduct.
Practice integrity, honesty and hard work. We believe that these are
measures of true success.
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Like other commercial banks, NBP is engaged in financing international trade. Its other
major functions include receiving deposits, advancing loans and discounting of exchange.
The functions performed by NBP are:
Accepting Deposits
This function is important because banks largely depend on the funds deposited with
them by its customers. Deposits are of many types:
i. Current deposits
Current deposits are also called demand liability on current deposits. NBP pays
practically no interest on current deposits. Businessmen usually open current accounts. In
NBP current account can be opened with a minimum amount of Rs.500/-.
Profit and loss sharing deposits (PLS) are also called checking accounts. One can deposit
and draw money easily. Profit on PLS is calculated every month but paid after six
months. PLS account can be opened with a minimum amount of Rs.500/-
Fixed term deposits are deposits with the bank for certain fixed period before the expiry
of which they cannot be withdrawn unless giving due notice. In this case the rates of
profit will be different depending upon the time period.
Discounting of bill is practically speaking lending for exchange at their market rate i.e. it
pays to holder of the bill an amount equal to the face value after deducting interest at the
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current market rate for the period. This bill has to be mature. This is the common way
used for keeping a part of assets of the bank in a liquid form.
Agency service
NBP also provides best and unique service to its valued customers. NBP provide the
following agency services to the customers:
i. Collection of dividends
As NBP deals with the purchase and sale of various types of securities, therefore NBP
also provide dividend or interest earned on share or bonds or invested money.
In the collection and payment of Cheques, bills and promissory notes etc. National bank
of Pakistan acts as an agent for its customers.
NBP also acts as an agent correspondent or representative for its customer at home or
abroad.
NBP provides the service of clearing the utility bills i.e. electricity, gas and telephone
bills of its customers. For this purpose it also provides evening banking services.
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b. Lockers facility
National bank of Pakistan also provides locker facilities to its customers to keep their
valuable assets in it. The charges of different size of lockers are different.
c. Acts as a referee
NBP provides useful services to its customers by acting as a referee to their credit
worthiness.
d. Supply of information
NBP provides operational and advisory service for foreign exchange accounts/activities.
As part of their daily business activity, banks receive cheques and other financial
instruments from their customers drawn on other banks, to be collected and credited to
their accounts. Similarly, banks receive cheques/instruments from other banks, deposited
by customers of the banks drawn on the customers of the drawee banks. Therefore, the
banks act as Collecting Banks when they send cheques/instruments for collection and as
paying Banks, when they receive cheques/instruments for collection from other banks.
Since each bank receive and sends cheques/instruments for collection to and from an
number of banks, the process of settlement would clearly be very cumbersome and time
consuming if every cheques/instrument had to be sent by the collection bank to each of
the drawee banks or branch upon which different collection items are drawn and to
individually pay the proceeds to each of the bank sending cheques/instrument in for
collection. Therefore, the banks have evolved what is called the Bankers Clearing
arrangement.
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1.6.2 Remittance Department
The Remittance department deals with the transfer of money from one place to another.
Funds transfer facility or remittance of funds is on of the key functions of the banks all
over the world. Remittances through banking channels save time, costs less and eliminate
the risks involved in physical transportation of money from one place to another.
National Bank of Pakistan transfers money in the following ways.
• Pay Order
• Demand Draft
• Mail Transfer
• Telegraphic Transfer
• Pay Slip
• Letter of Credit
• Traveler’s Cheque
• Must ensure that the activities are carried out strictly in accordance with the laid
down procedures/processes, and SBP/Compliance guidelines
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• Responsible for Cash, Clearing, Inland remittances including Demand Drafts and
Pay Orders
• Ensure high standards of customer services within the assigned turn around time
• handling cash, clearing, local remittances, and other related activities at branch
level
The group chief of Human resource management & administration group is Mr. Dr.
Mirza Abrar Baig. This Division is responsible for fresh induction of employees and
other professionals through a rigorous induction process in order to ensure presence of
quality professionals. Following units and areas of work are the part of this division. This
group is responsible to develop annual manpower plan for National Bank of Pakistan,
conduct job analysis, prepare job descriptions, and conduct job evaluation process. The
other functions of this group include attracting, selecting and recruiting the right people
from the market. The group firmly works on adopting latest organizational theories &
change management processes to bring in efficiency. This group also performs following
functions:
• Deals from placing job advertisements to timely recruitment of competent
personnel by using modern selection techniques.
• Systematically observes & measures employee’s/candidate’s performance for the
purpose of recruitment, selection and promotions.
• Facilitates in establishing successful productive working relationships through
effectively orienting new employees to their respective departments/divisions and
to their positions.
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• Encourages employees to seek promotion/transfers to fill internal openings and
meet employees’ personal objectives.
• Foster a culture of acknowledgement and appreciation amongst employees for
introducing innovative business practices, showing extra ordinary efforts for
achievement of goals and enhancing Bank’s corporate image uses various
methods of recognition ranging from simple “Thank you” letters to elaborate
celebrations and monetary rewards.
• Conducting motivation surveys and developing market based employee
satisfaction & retention strategies.
• Conduction of evaluation of positions and grades to ascertain employees’ position
in the grade structure.
• This Group supervises all the staff colleges, at Karachi, Islamabad, Lahore and
Peshawar.
The primary function of National Bank of Pakistan is to accept and receive surplus
money from the people, which they willingly deposit with the Bank. Like all other Banks,
National Bank of Pakistan also take incitation to attract as much depositor’s as it can. The
deposit department accepts/collects deposit from accountholders.
The National Bank of Pakistan offer different deposit schemes to its customers, which
includes the following:
• Current Deposits
The bank is profit seeking institution. It attracts surplus balance from the customer at low
rate of interest and makes advances at a higher rate of interest to the individuals and
business firms. Credit extensions are the most important activity of all the financial
institutions, because it is the main source of earnings. Advances department is one of the
most sensitive and important department of the bank. The major portion of the profit is
usually earned through this department. The job of this department is to make proposals
about the loans; the credit management division of head office directly controls all the
advances.
The advances Department receive application from intending borrowers. After receiving
application the advance department processes it further. After analyzing and detailed
investigation, they decide whether to approve the loan or not. Some loan approvals are
made by the Manager of the branch within his powers as prescribed by the bank’s higher
authorities, while some loan applications are submit to higher authorities for their
approval. Some advances are of the following nature
• Loan against Gold
The National Bank of Pakistan offer following products (Advances) to its customers
• NBP Saibaan
• NBP Karobar
Accounts Department of the bank can be considered the most important department. This
department is basically concerned with processes and activities of recovering, sorting,
summarizing and reporting data resulting from the whole day transactions of all the
departments. Actually the process of this activity starts from the preparation of all the
required vouchers by different related departments. When these vouchers are prepared,
these are posted into respective computer terminals by the relevant departments. Before
merging, a batch list is printed out by Computer Department and duly checked by the
respective departments. After this, merging stage comes, after which a proof list is
printed out. This is the stage, where Accounts Department starts performing its function.
Proof list is checked by the Accounts Department. The account department prepare
following vouchers and reports
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• Monthly Profit & Loss account- F48
• General Ledger
• General Ledger- Abstract
• Check Book Issue Register
• Western Union payments Register
• Demand Notices
• Miscellaneous Book
• Bank Transfer scroll
• Posting NBP Advance Salary
• Daily Statement- F21
• General Ledger- Head wise
• Hash Value Register
• End of Day register
• Posting National Income Daily Account (NIDA)
• Monthly return register
• Charges A/c register
• P-L-S Profit list
• Weekly Telegram
• Mail Transfer Register
• Government Scroll
• Provident file
• Government Scroll Debit & Credit
• Transfer Responding Advice Dispatched Register-F15
• Cash Remittance IN
• Cash Remittance OUT
• NBP General Account
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• Utilities register
• Statement of affairs
• Closing entries
• Daily activity checking
• Minor expense recording
All physical movement of cash in the bank is made through the cash department. As bank
is borrowing and lending institution, therefore cash is the top most priority of Bank.
Another aspect is that cash department is for the security purpose, security in a sense that
there should be no embezzlement of funds or in money leaded to bank by any party or
person. The efficiency of bank is also related to this department the more efficient the
bank is the stronger and busy is the cash department. Cash department perform following
functions
Cash department owes its important to the fact that it is a major point of contract between
the bank and the customer, the bank’s most valued relationships. This department is the
showcase of the bank and conveys the first impressions about the bank’s commitment to
professionalism in its systems and procedures and to courteous and efficient customer
service.
Normally cash department performs following functions
• Collection of funds
• Acceptance of deposits
• Payment of checks
• Remittances
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• Act according to any standing instructions
• Verification of signatures
• Posting
The National Bank of Pakistan was Pakistan’s leading institution which performs the
function of pension payments or disbursements to pensioners. The pension disbursement
department is responsible for making pension payments to Government Pensioners. The
person who wants to receive his/her pension from National Bank of Pakistan can open an
account with any branch of National Bank of Pakistan. The bank performs this function
through Demand Draft Purchase or simply called DD Purchase. This department
performs following functions:
• Making Pension Payments
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The group chief of Human resource management & administration group is Mr. Dr.
Mirza Abrar Baig. This Division is responsible for fresh induction of employees and
other professionals through a rigorous induction process in order to ensure presence of
quality professionals. Following units and areas of work are the part of this division. This
group is responsible to develop annual manpower plan for National Bank of Pakistan,
conduct job analysis, prepare job descriptions, and conduct job evaluation process. The
other functions of this group include attracting, selecting and recruiting the right people
from the market. The group firmly works on adopting latest organizational theories &
change management processes to bring in efficiency. This group also performs following
functions:
• Deals from placing job advertisements to timely recruitment of competent
personnel by using modern selection techniques.
• Systematically observes & measures employee’s/candidate’s performance for the
purpose of recruitment, selection and promotions.
• Facilitates in establishing successful productive working relationships through
effectively orienting new employees to their respective departments/divisions and
to their positions.
• Encourages employees to seek promotion/transfers to fill internal openings and
meet employees’ personal objectives.
• Foster a culture of acknowledgement and appreciation amongst employees for
introducing innovative business practices, showing extra ordinary efforts for
achievement of goals and enhancing Bank’s corporate image uses various
methods of recognition ranging from simple “Thank you” letters to elaborate
celebrations and monetary rewards.
• Conducting motivation surveys and developing market based employee
satisfaction & retention strategies.
• Conduction of evaluation of positions and grades to ascertain employees’ position
in the grade structure.
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• This Group supervises all the staff colleges, at Karachi, Islamabad, Lahore and
Peshawar.
2.2 HR Mission
“Provide more talented Human Resource in all NBP functional areas in relation to
competition keep motivated all the employees and maintain total industrial harmony”.
2.3.1 HR Planning:
NBP made HR Plan enables organization to align resources to corporate strategy.
It provides information on how the HR function will support the goals and strategies of
the organization and ensures that HR planning and practices are consistent across the
organization. It made preplanned according to future needs of human resource
requirement. It outlines how the gaps between future and present capability will be
addressed.
At NBP growth is not a function of time but rather of performance. As your performance
improves, the role that you play within the organization will accelerate to reflect your
input.
NBP focus is on attracting, developing and retaining the best in the business by offering
market driven compensation and benefits packages. Its compensation and benefits
strategy combines the need to maintain a high performance culture along with market
competitiveness.
Chapter# 03
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marketplace. Their dynamic culture offers diverse growth opportunities across Pakistan
and in countries around the world.
NBP fosters a work environment where employees can realize their potential whether
locally or in the international arena. Thus, employees are able to achieve their
professional goals while keeping in synch with the bank’s overall objectives.
Meritocracy is an integral part of NBP’s recruitment policy. Their merit-based
recruitment process incorporates the principles of equal opportunity and leads to the
appointment of the most capable candidate. This ensures openness and transparency,
allowing greater confidence in the outcome of the selection process.
The merit principle at NBP aims to identify the most suitable person for the job assessed
on the basis of the following parameters:
Educational background
Skills and competencies
Abilities and attitude
Experience
Interpersonal / communication skills
Specialist expertise.
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When the NBP offer internally Jobs than check the job competencies and conducts the
different test and exams to the relevant job requirements. If the employees full fill the
targeted result requirement the offer the job or to promote the next job.
The diagram below represents the process on which we base our selection. This gives an
overview to potential candidates as to the steps involved in becoming a part of the NBP
team.
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Chapter # 04
4.1 Orientation:
When the applicant becomes the employee of the NBP then it conducts the
orientation of the employee. Introduction all about job environment in which employees
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are introduce HR policies, department, colleagues, boss and subordinates. In the end
employee is introduce his current position and his duties which he has to perform. NBP
provide a hand book to the new employee at the time of orientation in which all the
information about task and job responsibilities is described.
Cash Officers:
NBP’s Cash Officers Program involves an extensive 1 month training period based on
branch banking operations before placement in the branches.
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Hire people from HEC recognized institutions with good communication and
interpersonal skills qualify for their Cash Officers Program.
Experienced Professionals:
NBP recruit experienced professionals in all areas of the bank and encourage the people
who are competent. NBP dynamic work environment offers diverse opportunities to
stimulate ongoing employee needs and supports career enhancement opportunities.
Management Associates:
NBP Management Trainee (MT) program looks for highly motivated individuals who
want good future. The program is for select individuals from reputable universities.
On job the MT program offers extensive interactive classroom training, comprehensive
learning experience. The objective is that to trained peoples in banking sector future.
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NBP Internship Program offers promising students with the exciting opportunity to apply
their classroom learning experience to real life corporate assignments. This program can
support their career goals by using the internship as a identifying their own competencies
to build a successful career with NBP.
When the present performance evaluated by NBP and judges that the desired goals are
not meet according too the requirement or when new product/service launch for the
customer. NBP judge that training need and according to the requirement NBP design
training and development program.
NBP assessed in many ways for training and development In the first NBP place through
the regular supervision sessions that all staff have with their respective line managers.
NBP also discussions around training needs should be a core part of each supervision
session and the training received by each staff member should be annually reviewed.
NBP Staff are often in the best position to put forward suggestions for appropriate
training courses to their line manager. NBP also to facilitate this, copies of training
brochures and other information on training will be made readily available to all staff.
NBP is committed to fostering an environment that encourages individuals to seek
opportunities for professional growth and enrichment and encourages supervisors,
managers, and employees to identify educational, training, and development
opportunities that will improve job performance and develop employee potential in
current or prospective positions. This policy establishes processes for implementation of
training and development programs.
Training expenses may include salary, registration fees, travel expenses and training
materials. Any reimbursement for travel expenses associated with seminars workshops or
similar training events must comply with all applicable ravel policies rules and statutory
provisions.
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4.3 Training Budget:
NBP have best strategy to achieve the goals. But with the passage of time when new
technology are new requirement of training and development feel that have establish a
certain amount or budget that meet the need of training and development. It up to the
quantity and training nature of the people to meet the desired goals of the organization in
better way.
NBP overall aim of the development function is to provide that proper trained personnel
in NBP are capable to fulfill their goals, as well as to contribute to better performance
and growth with their work .The development of NBP employees can be treated as a
special field of human resource management that includes planned individual learning,
education, organization development, career development and training.
NBP also adopt a decentralized approach, training is on a local basis, When training is
decentralized, the cultural backgrounds of the trainers and trainees are usually similar.
Local people develop training materials and techniques for use in their own area of
braches network.
Once the induction training program has been successfully completed, then training and
development initiatives will take place, as appropriate. Individuals are responsible for
keeping their Training & Development Record up to date and discussing them with their
line manager at supervision/appraisal meetings.
On job training:
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When the managers of NBP think that it is necessary for an employees to achieving the
goals then it refer to the training during the job.
• JNMDC:
Karachi South, Karachi West, Hyderabad , Sukkur, Larkana, Gwadar, Quetta and
Regional Audit Office Karachi
Lahore Central, Lahore East, Multan , Sahiwal, D.G Khan, Gujranwala , Sialkot ,
Bahawalpur and Regional Audit Office Lahore .
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Chapter# 05
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To enhance a continuous development and growth culture in the NBP, an interview based
competencies, was introduced. This system is a developmental tool, through which the
appraisers provide feedback on the employee’s performance and rates his or her
performance, inputs received through structured interviews with the users and general
NBP’s performance management and reward systems ensure that goals are met in an
effective and efficient manner. NBP define a clear path for the employees contribute to
the organization’s overall goals, peppered with regular reviews and feedback to enhance
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NBP focus is on attracting, developing and retaining the best in the business by offering
market driven compensation and benefits packages to the employee. NBP compensation
and benefits strategy combines the need to maintain a high performance culture along
with market competitiveness. NBP have also a book for Performance Management
System that consists of different form with differ performance evaluation criteria like
flowing.
NBP was introduced the concept of grade wise comparative ranking of performance
within the departmental clusters (banking, foreign reserve management, HRD, Research).
NBP is using performance appraisal in which the top 10 percent employees in each Grade
of respective clusters were ranked as “A” performers and the next 20 percent as “B+”,
NBP made better practice through performance management system and made the high
compensation to the employee and achieve the desired goals with high value of top
performer employees in over all organization goals and achieve high market share &
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Chapter No. 6
NBP’s performance management and reward systems ensure that goals are met in an
effective and efficient manner. They define a clear path for employees to contribute to the
organization’s overall goals, peppered with regular reviews and feedback to help them
gauge for measuring their progress.
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6.2 Compensation & Benefits:
NBP focus is on attracting, developing and retaining the best in the business by offering
market driven compensation and benefits packages. Their compensation and benefits
strategy combines the need to maintain a high performance culture along with market
competitiveness. Annual benchmarking exercises are conducted to stay abreast with
industry standards.
6.3 Benefits:
NBP provide benefits to their employees so that they can live their remaining life after
service happily and with our financial problem. So that it operates the following post
retirement schemes for its employees.
Pension scheme:
Pension is based on basic salary and it is given on monthly basis and duration of this
pension is up to death of employer and after the death of employer half amount of
pension amount is given to his wife if she is alive.
NBP also provides post retirement medical benefits to its clerical employees and
pensioner.
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Benevolent fund:
NBP operates funded benevolent schemes for its executives / officers and clerical / non-
clerical employees. Under this scheme, the employees of the Bank are entitled to receive
defined grants during their service and after retirement. The benevolent fund plan covers
all the employees of the Bank.
Medical Facilities:
Medical facilities of every type are given employer and his/her family (wife and
children). If medical treatment is not available in Pakistan then NBP send in another
Country on the recommendation of medical board at the certain limit.
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Chapter No. 7
Industrial relationship
It is the bank policy to ensure that the required standards of performance and conduct are
maintained. The disciplinary procedure is intended only as a statement of Bank policy
and management guidelines. It does not form part of the contract of employment or
otherwise have contractual effect.
Discipline Procedure:
Warning may be addressed to the employees verbally and in written through their
immediate supervisor. The warning shall refer to the contraventions committed by the
employee and will serve to remind the employees the he/she abide by the bank rules and
regulations in performing his/her work, and that this contravention should not be repeated
in future.
• The employee may be suspended from performing his or her duties for a period of
time as conveyed in written.
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• Unauthorized absence of more then two times in Six month can result in
termination of employment.
• An employee who is absent from the job with out satisfactory explanation is
considered to be an unauthorized unpaid absence.
• Discrimination, intimidation and harassment based on sex, race, religion, age,
color, disability, sexual orientation and cultural background is prohibited at the w
• These time periods may however be extended in appropriate circumstances taking
into account the nature of the offence.
• The time period will commence from the date of the letter/memorandum
confirming the warning, even though any specified time for improvement has
expired.
Penalties:
Dishonesty
Falsification of any official bank records will subject to the termination without prior
notice.
Violence
Intoxication
Coming to work under the influence of drugs or bringing drugs into the facility.
Unauthorized absence from work for one day without notifying employer.
Misrepresentation
Taking advantage of one’s positions to accept money or gift is against the rules of bank.
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Motivation:
As we know NBP is highly aware of how to motivate its employees in the best way. This
can be judged by the enthusiasm and good spirit that people show in performing their
jobs. There is a well-devised system that MOBILINK follows for the purpose of
motivation. It includes both financial and non-financial rewards along with the major
motivators and dissatisfies. The bank recognizes the importance of making people drive
towards their goals and the basic step towards this is made through recognizing the value
of importance that the bank gives to its employees. NATIONAL BANK OF PAKISTAN
has a set of financial rewards, medical, dental, vision and life insurance, retirement plan,
educational refund assistance, paid vacation days, family and work life balance benefits
and profit sharing plan, Annual bonus opportunities, bank cars etc. other ways in which
employees are motivated are:
• Employees are safe in knowing that they will be rewarded for any exceptional
work. This reward is not only monetary. It is accompanied by the employee being
given recognition and greater empowerment.
• Employees are given a very beautiful and healthy work environment. Special
attention is given to make the physical environment most productive. This is why
NBP offices are considered to be the best decorated and organized.
• As we know NBP has a desire to promote the high achievers from with in the
bank. Positions are given on merit and are transparent and fair in nature. There is
no special treatment. Therefore each employee knows that he can aim for the top
and actually get there. This has proved to be a great source of motivation for the
employees of NBP
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Motivational factors
NBP is a leading telecom bank and all the employees working there feel pride in
affiliating them with the organization. It’s the biggest intangible motivational factor.
Affiliating with organization, employees are self motivated to work and loyalty
comes from within. However they have other factors too. They believe in praising the
good work done by employees and reward them on that. Reward may be tangible or
intangible. They also arrange parties in which star performers are highlighted. Also
they have informal meetings after performance evaluation and supervisors,
subordinates, colleagues talk about there success and are motivated through intrinsic
factors. Delegation of authority and empowerment re the tools which they use to
motivate employees and that is how they keep up the good work.
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References
http://www.nbp.com.pk/careers/index.aspx
http://www.nbp.com.pk/AboutUs/Vision.aspx
http://www.nbp.com.pk/AboutUs/Awards.aspx
http://www.nbp.com.pk/advancesalary/index.aspx
Kotler, P., Armstrong, G., Brown, L., and Adam, S. (2006) Marketing, 7th Ed.
Principles of marketing 8 ED by Kotler & Armstrong
www.insourceadvisors.com
www.consultace.com/
www.pakistanibusiness.com
www.privatisation.gov.pk
www.privatisation.gov.pk
www.wikipedia.org
www.edp.com.pk
www.people.com.pk
www.brecorde.com
http://mymba.jimdo.com
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