MUSLIM COMMERCIAL BANK
ContentsAcknowledgement3Executive Summary4History of
Banking5Company Name:5Introduction of MCB Bank
Limited6Ownership6Business Volume6Vision Statement7Mission
Statement8Organizational Structure.8External Environment of
MCB:10Products and Services:10Corporate Banking12Personal
Banking13Personal And Corporate Banking15Competition:17Internal
Environment:18SWOT
Analysis18Strengths:18Weaknesses:18Opportunities:19Threats:20Human
Resource Management:21Activities performed by HR department:21HR
Department Hierarchy:21Strategic Human Resource Management22Job
Analysis22Recruitment and Selection Procedure:22Orientation and
Training Development:24Performance Appraisals:25Compensation
Management:26Health and Safety Conditions:26Career
Management:27Flaws in HR
practices:27Recommendations:27References:28
Acknowledgement
Person is not a perfect in all the contexts of his life, He has
a limited mind and mind thinking approaches. It is the guidance
from Almighty Allah that shows the man light in the darkness and
the person find his way in the light. Without this helping light,
person is nothing but a helpless creation.I also owe my thanks to
my teachers. We feel so richly blessed to have them as our
instructors, whose strength and wisdom we learn up to and no doubt
experience of studies with them is far better than I believed
possible. I appreciated the way of Supervised, explained and guided
me. They are really a source of inspiration for us and for every
student of University of Management and Technology.We also very
thankful to all our honorable staff members of MCB New Alamgir
Market,Lahore for there co-operation and guidelines for preparing
this report. I tried my level best to prepare this event with high
level of accuracy but no one claim to perfect other than ALMIGHTY
ALLAH.Last but not the least; ordinary words of gratitude do not
encompass the true love and guidance extended to my loving and
caring parents. Their constant interest, prayers and encouragement
have been a very strong support for me and have enabled us to
finish this task.
Executive Summary
Muslim commercial bank limited was incorporated in Pakistan and
is engaged in commercial banking and related services. It is
serving the nation as one of the leading Banks in Pakistan. The
bank is listed on all the stock exchanges in Pakistan, in
accordance with the directives of the federal government regarding
the shifting of the banking system to Islamic modes; the State Bank
of Pakistan has issued various circulars from time to time. Muslim
commercial bank provided quality financial services in the country
with profitability and responsibility and to be the best place to
work. has a solid foundation of over 60 years in Pakistan MCB's
operations continued to be streamlined with focus on
rationalization of expenses, realignment of backend processing to
increase productivity, enhancement of customer service standards,
process efficiency and controls. The Bank has taken the lead in
introducing the innovative concept of centralizing Trade Services
in the country by providing centralized foreign trade services to
branches with a view to improve efficiency, expertise and reduce
delivery cost. With a network branches all over the Pakistan and a
team of dedicated professionals, MCB is Pakistans largest private
sectors commercial bank.Further MCBs organizational structure,
design, advantages, charts and hierarchies are discussed. Whereas,
on the other hand, its competitors, external and internal
environment and background are discussed too.
History of Banking
The word Bank is said to have been derived from the words Bancus
or Banque or Bank.This history of banking is traced to as early as
2000 B.C. The priests in Greece used to keep money and valuables of
the people in temples. These priests thus acted as financial
agents. The origin of banking is also traced to early goldsmiths.
They used to keep strong safes fro storing the money and valuables
of the people. The persons who had surplus money found it safe and
convenient of deposit their valuables with them. The first stage in
the development of modern banking, thus, was the accepting of
deposits of cash from those persons who had surplus money with
them.The goldsmiths used to issue for the money deposited with
them. These receipts began to pass of transactions form hand to
hand in settlement because people had confidence in the integrity
and solvency of goldsmiths. When it was found that these receipts
were fully accepted in payment of debts; then the receipts were
drawn in such a way that it entitled any holder to claim the
specified amount of money form goldsmiths. A depositor who is to
make the payments may now get the money in cash form goldsmiths or
pay over the receipt to the creditor. These receipts were the
earlier bank notes. The second stage in the development of banking
thus was the issue of bank notes. The goldsmiths soon discovered
that all the people who had deposited money with them do not come
to withdraw their funds in cash. They found that only a few persons
presented the receipts for encashment during a given period of
time. They also found that most of the money deposited with them
was lying idle.
(en.wikipedia.org/wiki/Bank) Company Name: MUSLIM COMMERICAL
BANK LIMITED
Introduction of MCB Bank Limited
MCB is one of the top banks of Pakistan founded by ISFHANI and
ADAMJEE families on July 1947 under the Indian Companies Act. In
1974 MCB was nationalized along with all other private sector
banks. After the Indo-Pak partition, bank moved to Dhaka and then
bank transferred its registered office to Karachi in 1948. The head
office of MCB was shifted to Lahore in 2008. The new headquarter
located at Jail Road and the building called MCB house. MCB
headquarter is still in Karachi serving the nation. The MCB tower
in Karachi is the tallest building in Pakistan. The Bank has more
than 5.2 million customers nationwide and have network of more than
1,700 branches and 500 ATMs in the market.
OwnershipThe ownership of the bank was changing with the passage
of time. Bank was nationalized by the Bhutto Government in January
1974 and then Premier Bank limited merged with MCB. In the late
1991, the bank get privatized and purchased by a Pakistani
corporate groups named as Nishat Group, founded in 1948. Nishat
group is the most diversified business group in Pakistan, including
banking sector, textile sector, and insurance and cement sectors.
NCB was the first bank of Pakistan who gets privitized. Chairman of
the Nishat group and NCB is Mian Mohammad Mansha and hi did his
best and play the most import role in the success of the bank as
well as group. .
Business VolumeMCB is the Pakistans largest Bank according to
the market share which is 18% in 2011. Its assets are worth of PKR
605 billion in the same year. Its network is wised consisting of
1,221 branches around all over the Pakistan including eight Islamic
banking branches, 689 ATMs with a market of 200 million. The Bank
is also doing its operations in SriLanka, Bahrain ad Dubai, UAE.
MCB Also incorporates an Asset Management Company known as MCB
asset Management Company in 2005. The bank also establishes a
private company in Hong Kong which is the subsidiary of MCB with
the partnership of Standard Chartered Bank. MCB is growing very
quickly specially in Pakistan by setting high performance standards
and innovativeness in their product and services. Bank is also
leading in the technology and providing its customers best
technical services as compare to all competitor banks. Its
extensive network of branches helps its customers to avail best
services of the customer. Fully Owned Subsidiaries of MCB include :
Muslim Commercial Financial Services (Private) Limited MNET
Services (Private) Limited MCB Trade Services Limited MCB Asset
Management Company Limited MCB leasing (Closed Joint Stock Company)
The Bank has achieved this success, especially in the last few
years, through consolidating corporate banking operations,
strengthening retail banking, launching diversified and innovative
products, giving more focus to consumer financing and investing in
IT..MCB reported net profit of PKR 15.5 billion or approximately
US$183 million in 2009 and generated a return on average equity of
27.35% and a return on assets of 3.25%. The Banks asset quality is
strong with a gross NPL ratio of 8.62%.Vision Statement
To be the leading financial services provider, partnering with
our customers for a more prosperous and secure future.
Mission Statement
We are a team of committed professionals, providing innovative
and efficient financial solutions to create and nurture long-term
relationships with our customers. In doing so, we ensure that our
shareholders can invest with confidence in us.
Organizational Structure.
External Environment of MCB:
Products and Services:
FULL DAY BANKING:To satisfy the customers banking needs at all
MCB Full Day Banking branches across the country enjoy the
convenience of extended banking hours 9 to 5, even on Saturdays.
MCB now serve the wide range of services throughout the day. 365
DEPOSIT ACCOUNTS:365 deposit accounts is an account for the
customers with substantial balances, offering profit on daily
product basis with the facility of unlimited withdrawals. MCB
LOCKERS: MCB provides the lockers for the customers to protect the
valuables documents and other things. Lockers of different
capacities are available nationwide. MCB ISLAMIC BANKING:MCB
Islamic banking provides Riba Free and Shariah Complaint Solutions
to various customer segments in a growing number of cities. With
the help of Shariah Specialists, Lawyers and professional
Commercial Bankers, MCB have the best solutions to cater to
customers needs the Islamic way. MCB ENHANCED SAVING ACCOUNT:MCB
Enhanced Savings Account is meant for small-savers who are looking
for higher returns on their savings. CALSSIC AND GOLD CREDIT
CARDS:A suit of classic and Gold Credit Cards are focusing
primarily on providing superior services, convenience, safety,
shopping pleasure and security that is giving a different feel to
the world of Credit Cards through innovative features. These
include comprehensive insurance plans, installment plans, reward
points, upfront loyalties and much more. MCB MOBILE BANKING:Banking
at customers finger tips. You can message any time or from anywhere
to get information regarding balance and statements. Cash
withdrawal, balance inquiry and unlimited shopping can be done by
MCB mobile banking. CORPORATE FINANCING:Providing access to
diversified financing options, including working capital loans,
term loans, trade finance services and investment banking. MCB
SABZAZAAR:MCB Sabzazar is an agricultural financing scheme for
farmers that offer financing plans. MCB Shadabi Plan for short-term
financial needs and MCB khushali Plan for long-term financial
needs. Other schemes are tractor finance scheme, Baghbani scheme,
Growers finance, Dairy and MeatPlan, Murghabi scheme, Aabiari
scheme, and Mahigeri scheme.
Corporate Banking WORKING CAPITAL LOANS:Based on the customer's
specific needs, the Corporate Bank offers a number of different
working capital financing facilities including Running Finance Cash
Finance Export Refinance Pre-shipment and Post- shipment Tailor-
made solutions are developed keeping in view the unique
requirements of your business. TERM LOANS:Individual can gain and
benefit the most through MCB Consumer Banking. In MCB you get
friendly, efficient and attentive personalized banking services - a
unique banking relationship experienced by each MCB client.
INVESTMENT BANKING:Our Investment Banking Team has emerged as a
leading player in Pakistan's Investment Banking arena. The Team
handles advisory, corporate finance and capital markets related
transactions. Within these areas, the team has developed expertise
in: CASH MANAGEMENT:Our network of over 900 branches in Pakistan
enables us to collect and disburse payments efficiently with our
cash management services. This also enables us to offer you a
choice of paper based or electronic fund transfer solutions
including collection amounts, cross branch on- line transactions
etc MCB PERSONAL LOANS:MCB Personal loan is a simply a clean cash
facility extended for personal use. It offers a fixed installment
loan that provides the access to cash instantly without any
collateral. Financing available is up to 5 years for amount up to
Rs. 1 million.
Personal Banking ONLINE SERVICES:One of the largest networks of
over 700 online branches in the country and are growing with the
passage of time. Providing customers with 24/7 real time online
transaction facilities. MCB ATM 24 HOUR CASH:MCB ATM Smart Card is
accepted at over 4,500 ATMs nationwide. MCB ATM Smart Card enables
you to access fast cash, inquire account balance, transfer funds
and pay utility and mobile bills/mobile top-ups from any of over
550 MCB ATMs in the country.Get 24-hour convenience of cash
withdrawal, mini-statement, utility bill payment, funds transfer
services and much more. Welcome to a world of convenience with the
MCB ATM Smart Card. MCB ATM Regular Card:MCB ATM Classic Card
allows withdrawal of up to Rs.15, 000 per day and a maximum of 3
withdrawals per day per card. MCB ATM Gold Card:The MCB ATM Gold
Card allows withdrawal up to Rs. 25,000 per day and a maximum of 6
withdrawals per day per card. The cardholder has to make at least
two transactions to withdraw the full amount of Rs. 25,000.
MCB VIRTUAL BANKING:MCB Virtual Internet Banking offers you the
convenience to manage and control your banking and finances; when
you want and where you want. BILL PAYMENTS:MCB easy bill pay offers
unmatched convenience to pay your utility and mobile phone bills or
re-charge your prepaid mobile phone accounts anywhere, anytime with
security and peace of mind.
MCB is the only bank that offers you 3 convenient options of
making bill payments to PTCL, SSGC, SNGPL, KESC, Mobil ink,
Supernet, IESCO, HESCO,and Ufone. So, save your precious time by
avoiding long queues and pay your bills through MCB Easy Bill
Pay.
MCB Smart Card or MCB ATM Card Holder can easily pay their bills
or re-charge their prepaid mobile phone account through the
following convenient options of MCB easy bill pay. MCB Car4U:MCB
CAR4U gets you not only a car of your own choice but leads you to
the best in life. It is affordable with competitive mark-up,
flexible conditions, easy processing and above all, no hidden
costs. "Kahin Na Kahin Tau Hai1 Car 4 You". Smart card / DEBIT
CARDS:
MCB now brings you MCB Smartcard -a secure and convenient
instrument of payment with unmatched functionalities. It provides
24-hour direct access to your bank account.The convenience and
flexibility of MCB Smartcard will help you live a smarter life. It
not only helps you manage your expenses, but also eliminates undue
interest on your day to day credit card transactions. Your balance
is always within your reach and you spend accordingly. MCB VISA:MCB
Visa is not just another card in your wallet. It not only provides
the conventional credit card services in a manner that is superior
in comparison, but goes an extra mile.
Personal And Corporate Banking CURRENT ACCOUNTDiscover the
quick, easy, and convenient way to manage and use your money with
an MCB Current Account. SAVINGS ACCOUNT:MCB Savings Account offers
you one of the most suitable ways to manage your hard-earned money.
So start saving and earning profit today. BASIC BANKING
ACCOUNT:Look after your money the simple way, with MCB Basic
Banking Account.
FOREIGN CURRENCY ACCOUNT:Enjoy the confidence of operating an
international account, locally. MCB Foreign Currency Account offers
you the option of earning attractive returns on your Foreign
Currency Investment. SMART DOLLAR ACCOUNT:Discover a sensible
solution that helps make more of your dollar savings. MCB Smart
Dollar Account is a sensible way to maintain or grow your US Dollar
deposit across USD Current, Savings or Term Deposits. BUSINESS
ACCOUNT:MCB Business Account lets you build your business through
the accrued savings from discounted transaction fees, and more.
SAVINGS XTRA:Grow with MCB Xtra by saving more and earning greater
profit. MCB Savings Xtra Account offers you a wide range of
attractive profit rates. BancAsssurance:Your policy will be
selected from the most reliable insurance companies. You will feel
confident that your policy has already passed MCBs strict standards
for selection unparalleled protection. Its products are: Dream
wedding Capital Sure Edu-care Life partner
Competition:
The transition period is having a positive impact on commercial
banks. Muslim Commercial Bank (MCB) seems to be one of the banks
capable of taking advantage of these dynamics. MCB is the largest
private bank and third largest commercial bank in Pakistan. They
had been improving over the last two years so much.The Bank
accounts for 10 per cent of total assets, 10 per cent of deposits
and 11 per cent of loans in the banking sector. It enjoys an
competitive edge over smaller banks due to advantage of much lower
cost of funds and higher capital base. MCB has CHANGED management
restructuring in the past three years. MCB is now in a position to
have greater control over administrative expenses. Right sizing of
staff and closure of loss making branches will result in
significant cost savings. MCB has plans to have greater focus on
consumer banking. It is probably one of the first local banks to
extensively explore the opportunities in this area.MCB has the
largest ATM network in Pakistan. It has also launched an innovative
nationwide service called MCB Switch whereby any bank in Pakistan
will be able to utilize Bank's ATM network. All MCB Switch members
will also be able to use ATMs worldwide through Master Card's
International 'clients' network; MCB seems to be in an increasingly
sound financial position. The banking competition is very stiff in
market now days. To target top client is the most important thing
to do in banking and to target these clients you have to have a
strong relation with them and facing competition with many other
banks like Al-falah Faysal etc
Internal Environment:SWOT AnalysisStrengths: One of the major
strengths of MCB is that it has very stable deposit base. MCB is
largest private bank in Pakistan with more than 1000 branches
domestic (including 8 Islamic branches and over 550 ATM's) and 5
foreign branches. The bank enjoys competitive advantage and
competitive profitability over other banks in Pakistan. MCB has the
accounts of big organizations like OGDCL, PTCL, EFU, PTC etc. MCB
is Successive and Market oriented. MCB investing huge sums on HR
development and training. Customer default rate is lower as
compared to other banks. MCB has the largest ATM network in the
country. Meeting the challenges of latest Technology by introducing
Smart card remit express, mobile banking etc. 24 hours cash access
through ATM. Easy access to the customers at their residential
localities through a large number of branches. Best and optional
policies and attractive compensation packages, for employees, which
has really improved their commitment, dedication and hard work,
towards the accomplishment of banks objectives. Conservative
financial institution operated by expatriate executives. Offers a
wide variety of services to its customers and has a customer base
of 4 million The bank has efficient IT infrastructure and network
of on line branches.
Weaknesses: Decision making process is very slow. It is not
having greater no. of branches abroad. Though ATM network is the
largest in Pakistan, still some potential areas dont have the ATM.
Some management positrons needed are not professional. Low
motivational level; non-aggressive marketing. Employees
dissatisfaction due to ill treatment and improper reward system.
Favoritism and Nepotism in recruitment. Interest rate is very
higher. A sense Insecurity of jobs, with the downsizing, among the
employees is found. Financial weaknesses i.e. excess operating
cost. No training for advances in-charge. Not many advances to
agriculture sector and small and medium enterprises. Political
interference
Opportunities:
Leasing sector is growing in Pakistan for the last few years
which provide opportunity to MCB to go ahead in this area as well.
MCB is providing Consumer Finances at comparatively lower rates
which paves a way to grab more customers Financing to small/medium
cottage industries will definitely increase its advances and
profitability as well. Islamic Trading Based Banking can enhance
the business of the bank. Targeting of Hundi/Hawalla through
networking and IT potential of MCB. Ongoing development on energy
sector of the country. Due to largest ATM network, MCB can expand
its 24 hours cash facilities to the far off cities of the growing
market demand. Increasing focus/target on different types of
customers, MCB can open women branches, especially in those areas
where women class want to get involved but couldnt due to
environmental restriction. Growing policies of government on
business and commerce sector provides MCB and opportunity to
efficiently meet with the business peoples requirement of instant
cash and financing facilities. New schemes can be introduced to
finance commodity operations. The formation of new and energetic
marketing teams can increase the disbursement of loans and new
customers can be searched out. Low exposure to consumer banking
providing opportunity to explore the segment.Threats: Other private
commercial bank with sound profitability is also a threat to MCB
e.g. UBL, Alfalah, HBL etc. For the last of many years, Pakistan is
facing economic and political instability which is a big threat.
Foreign banks are flourishing in field of consumer financing.
People dont prefer banking culture.They mostly prefer cash
transactions. Increasing foreign banks in the country.
Privatization of other domestic banks has also increased their
services. Highly specialized and attractive services provided by
foreign banks to their customers. Inconsistency in government
policies regarding to business and economic sector. Growing global
technological advancement. Slower economic growth rate of the
country. Return on deposits is very low. Inflation rate is high.
GNP and GDP rates are low and so the savings are low. Decline in
private and public sector credit due to tight monetary policy.
Participation of foreign banks in local market that can hurt the
market share. Mergers & acquisition activities (M&A)
consolidating the banking sector and MCB is also vulnerable to
it.
Human Resource Management:
Activities performed by HR department: Establishing Policies for
Human Resource Human resource planning and forecasting Aligning
employees work with the banks goals. Performing Job analysis and
developing JD and JS. Recruitment. Orientation and Training.
Performance appraisal Compensation management Setting pay plans
Employee benefits Reward and Recognition programs Establishing and
maintaining workforce relationship Communicating organizational
goals and strategiesHR Department Hierarchy:
Strategic Human Resource Management Branch HR manager have to be
very conscious about the employees performance. HR manager strictly
need to Job AnalysisJob analysis is every important as job analysis
information is used in Selecting and recruiting, compensation,
performance appraisal, training and in resolving other issues which
MCB faces. They mostly collect job analysis information through
observation, questionnaire and interviews. These entire tasks are
performed by HR manager assistants. Recruitment and Selection
Procedure:The recruitment process followed by MCB HR department is
clearly understandable by the following diagram.
The procedure starts with the requirement of job, they analyze
and identify candidates of their interest that full fill their
requirements specified by JD & JS. Then the pre-screening
process undergoes. Screening focuses on creating a qualified pool
of candidates to share with the hiring manager. Common activities
include resume/application reviews for select qualifications,
supplemental questionnaires, and formal testing. After
pre-screening and short listing, they call candidates for test and
interview. A panel of interviewer conduct interview of the
candidates. The interview content is very complex and covering all
factors that they need to evaluate before hiring a person for job.
Like they identify candidate's behavioral aspects, e.g; if he/she
face a situation where he/she have to deal with the annoyed
customers? what was his/her reaction? etc. Similarly they took
cognitive test to identify person's intelligence level, knowledge
regarding banking and achievements since yet etc. Then they did the
back ground investigation and physical exams.For executives and
higher level posts, 90% of recruitments were made from leadings and
foreign banks and the other lower levels posts were filled with
professionally Qualified candidates i.e. MBAs , M. Coms, Computer
Programming etc from well recognized National and international
universities. Sources include internal hiring as well as external
hiring. External hiring mostly done in case of new or low or middle
level positions in banks. The job posting mostly done by using the
sources like newspaper, website, social media and magazine of
Lahore chamber of Commerce. They also engage with placement
agencies sometimes for the recruitment and pay them for this task.
The selected candidates come from this source are no further
interviewed from the HR department of the Bank. While Internal
hiring mostly done on the basis of performance and promotion if
there a higher post get need to fill, In this case, instead of
hiring a new person, they prefer to hire existing employee who know
the bank's culture and everything about it and have experience with
the bank.
Orientation and Training Development:
After selection, orientation is conducted for selected employees
where all new recruits are provided with the background information
about MCB. Mostly in orientation, they provide information about
employee's benefits, personnel policies. The daily routine,
organization and operations and Safety measures and regulations.
These are the basic info that provided to new recruits in the time
of orientation. After orientation, new recruits do On-the-Job
Training (OJT). Bank assign them task under coaching of
professionals who trained them and assign task to them on the daily
basis. Managerial level trainees work direct with the senior
management or with who he/she is going to replace. For existing
employees, the training programs are offered for different
purposes. For example, in Feb 2014, relation building workshop has
been organized for the every employee in the bank and provide
certificate to them as well. Old employees are also trained through
this method like when some new innovation is introduced, old
employees are trained in order to learn and handle that new
innovation. All senior managers have been trained to operate Misys
Software (Automation of service provision and book management) in
2008 and relation building workshop in 2014. Job rotation is also
done at the managerial level in order to keep them motivated and
allow them opportunities to learn and experience more and
diversified things. It is obligatory for each employee of the Bank
to attend at least one training course (of a minimum duration of
one full day) in a calendar year. MCB uses following programs for
training and development Management Trainee Management associate
Cash officers Internships
Performance Appraisals:
HR manager set departmental goals with the help of departments
heads. Supervisory staff is evaluated by the Branch Manager and
Units Heads directly. When observed an employees performance,
supervisor usually makes a judgment about whether that performance
is acceptable or not. The process of appraisal process is modified,
improved and upgraded with the passage of time with the banks
requirements. HR department notifies all units of the Bank of the
PA system and procedure currently in use. Branches are notified
deadlines for goal setting, form filling, monitoring and final
appraisals. The increments in sales are based on performance
evaluation of employees annually. Grade promotions are based on:
Availability of higher position Employees ability to fill those
positions Sustain high performance during last few yearsThis
decision has been taken in second quarter of each year.
Performance appraisal tool that is used by MCB is ACR (Absolute
Category Rating) which contain information such like the employee
background, nature of his work, performance of employee,
performance rating as compare to evaluation factors and
recommendations. A branch manager writes the ACRs of employees in
his branch, regional manager writes the ACRs for the various branch
managers working under him. These ACRs are sent to the Gm office
from where they are forwarded to the human resource division.
Compensation Management:
MCB awards their employees compensation in return of their tough
mental labor. Apart from basic salaries they are offered many other
benefits like:
Utility Allowance, Medical Allowance Overtime Allowance
Education Allowance House Rent Allowance Bonuses Cash Prizes House
Building Loans Non Interest Loans
Employees, who pass IBP part 1 exam in first attempt, are
offered Rs.60, 000 cash prize or two increments. Employees those
who pass part 2 exams are offered Rs.100, 000 or three increments
and those who pass both examinations within one year of training
are promoted to OG 2, and those who get the gold medal in the exam,
are promoted to OPERATING GRANT.
Health and Safety Conditions:
Employees are specially get training regarding health and safety
conditions in which instructor provides them all kind of
information and tips to get healthy. They also informed about
emergency issues and their solutions. Fire extinguishers and other
emergency tools are ready available at every branch.
Career Management:The career of employees developed after
working Pakistans best bank. In MCB, employees get trained very
well and bank compensate them with educational allowances and
arranging workshops and training programs for employees which made
the employee comparable more professional, knowledgeable and
experienced than all others. One of HRD's key responsibilities is
to encourage growth and career development of employees by coaching
and by helping employees achieve their personal goals in our
organization and beyond that.
Flaws in HR practices:
As such our study about MCBs HR department practices, there are
not such kind of flaws that important or highly concerned. As they
are having best HR expertise and using best HR practices,
strategies and tools in order to utilize best their human resources
to achieve goals. The one problem that was high in past few years
is the turnover rate of employees after getting experience from the
bank. Due to growth in the banking sector, those employees get jobs
in other banks. So this is the major problem for MCB as per their
practices.
Recommendations:MCB is also did work to reduce turnover by doing
some strategies. They increase the incentive and benefits plan for
employees as well as providing them solution of their problems.
They started to involving employees into different events and
activities. Multinational banks are moving rapidly to our banking
industry and if MCB will not adopt new procedures, the productivity
can suffer. The solution that we are proposing is to use the
job-rotation technique for employees so that they work in new
environment and learn and experience more and diversified. 26