Bank of Ceylon, Sri Lanka

Recognition and Reward systems

Prabhath Patabendi

International Center for Research & Development

Bank of Ceylon –An Introduction

Bank of Ceylon is the largest employer in the banking and financial services sector in Sri Lanka

( Top 1000 Banks)

Employee Strength 8,883 employees located in 567 branches throughout the country

Overseas branches : United Kingdom, India, Maldives and Seychelles.

Retention rate : 99%.

http://www.youtube.com/watch?v=zvcHPmh0Bsg

Key to Financial strength &

Sustainability

Connected to People ,

Environment & Social life of all

Sri Lankans Banks environment action program

https://www.facebook.com/bankofceylon.lk

Promoting education as an opportunity to empower people..

http://www.youtube.com/watch?v=ZxDeir7hmzM

Recognition and Reward

systems & Talent

Management

Performance Based Appraisal

& Rewarding System

Recognition and Reward

systems…..Benefits package

Pension plans

Loan schemes at concessionary rates to cater to a variety of needs

Medical schemes covering family members including dental

Payment of fees for higher education and training programes

Zero % vehicle loan

Fully furnished staff quarters

Cost of living allowances (COL)

Travelling allowances

Holiday homes

Reimbursement of funeral expenses

Recognition and Reward

systems Profit related bonuses ( Branch level &

overall)

Product development Ideas ( Bottom

top approach)

Creation of a new financial products

Creation of new working systems (

branch wise)

Process improvement Ideas (IT)

Thank you