Faysal Bank Pvt Ltd

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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, providesefficientservices 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 viatheinternet 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 Co-

coordinators 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 candidateto 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


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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 ofa job andkind 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 andbehaviours required to performthe 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. Ifthere 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.


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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 salarysystem.

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.

Documents

Faysal Bank Pvt Ltd