Faysal Bank PVT LTD

Faysal Bank Pvt Ltd
History
Faysal Bank started operations in Pakistan in 1987, first as a branch set-up ofFaysal Islamic Bank of Bahrain and since 1995 as a locally incorporatedPakistani bank under the present name of Faysal Bank Limited. On January 1,2002, Al Faysal Investment Bank Limited, another group entity in Pakistan,merged into Faysal Bank Limited which resulted in a larger, stronger and muchmore versatile institution. In fact it has the highest share capital amongst privatebanks in Pakistan and is amongst the largest in terms of equity.Faysal Bank Limited is a full service banking institution offering consumer,corporate and investment banking facilities to its customers. The Bankswidespread and growing network of branches in the four provinces of the countryand Azad Kashmir, together with its corporate offices in major cities, providesefficient services in an effective manner.
Future Plans
THE QUICK LINK TO YOUR BANKING SERVICES
Faysal Bank is constantly endeavoring to bring to its customers new andimproved products and services that provide efficient and effective solutions.Faysal Connect is such a service for the corporate customers. Faysal Banksweb-based e-banking allows its customers to access its banking services via theinternet by using state-of-the-art secure technology.Faysal Connect empowers corporate customers to conduct their daily businesstasks from anywhere and at anytime
Human Resource Department

Main HR Department is located at Faysal Bank Head Office Karachi. There areHR Cocoordinators in each branch of Faysal Bank which supervises theapplications and practices of HR department. If in any branch of Faysal Bank, aparticular vacancy is to be filled, the applicant will make contact to the BranchManager of that particular branch which will refer the candidate to the HeadOffice. All the recruitment and selection process will be will be conducted at HeadOffice. Then the Head Office selects the candidate on the basis of informationprovided by the candidate. The selection process includes the testing andinterview process. After selection, the employees are then transferred to theirparticular branches, where the duties are assigned to them as well as training isprovided them on the basis of their nature of job.HR department sets the rewards (salaries, bonuses etc) according to theperformance and the target achievement of the
employees, If one is workingsatisfactorily and efficiently then he is awarded with such incentives that willmotivate others to do well. If the performance shows downfall, he is warned.The Manager of each branch is responsible for the appraisal of theemployees. Then on the basis of appraisal, promotion and salary increments areawarded.
Job Analysis The procedure for determining the duties and skill requirements of a job and kind of person who should be hired for it. Job analysis has two components i.e. Job Description Job specification Job Description: Job description is the process through which we determine the duties,responsibilities, supervisory responsibilities and behaviours required to perform the job Job Specification: Job specification is the process of determining the job related skills, abilities required for a job Job Analysis of Faysal Bank Basically there is no specific Job Description and Job Specification for aparticular job in Faysal Bank. Change in banking system and size of operations isaffecting the duties, responsibilities of job. Faysal Bank for writing job descriptionand job specification intensely focus on the immediate supervisor. If there is any job vacant at low level in the Faysal Bank, the immediate supervisor ofconcerned department with the assistance of Branch Manager will transfer therelevant job description and specification to the HRM Department of Faysal Banksituated at Karachi. The head office will use this written job description andspecification to select the right employee for Faysal Bank. But one thing isimportant that job related duties and responsibilities at low level can change withthe will of immediate supervisor.Practically when we talk about the Faysal Bank low level staff, about morethan 40 employees are working under the authority of operational manager.Operational manager can change the duties and responsibilities of employeesworking under his authority. At the middle level management, the operational manager and all theconcerned department head come under this part. The Branch manager of theconcerned branch will write job description and job specification of the vacant joband transfer it to the head office of Faysal bank.At the top level, the Branch manager of the concerned branch come. Inpractical side, their job analysis is done directly by the head office. And the headoffice use the mostly internal source of recruitment here to fill the vacant top level job or succession planning.
Performance Appraisal:
To compare the employees current/past performance with their standards such process is called performance appraisal. Faysal Bank adopts thetraditional appraisal method which is done on yearly basis. (Branch Manager of Faysal Bank) appraises from sweeper to operational manager and appraises ofBM is done by area manager of Faysal Bank. Branch manager appraises all theemployees by taking direct instructions from respective heads.
Flaws in Practice
Salaries are given on individual basis but the company should adopt thepolicy of performance base salary system. There is no separate human resource department in each branch ofFaysal bank. The company is not adopting the policy of direct hiring. The performance appraisal has been done on traditional basis.(yearlybasis) Transportation facility has not been provided to all the employees exceptBranch manager. No mobile facility is to be provided by Faysal bank. There is no proper job rotation in Faysal bank. No Traveling allowance is to be provided by Faysal bank. Some time the working time exceeds the limits of twelve hours.

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Human Resource Department

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