Career Progression process across all levels of the Bank

Ref. No: AIJKBOF/2021- 04                                                         

The President,

HRD Division,

Corporate Headquarters,

M.A.Road, Srinagar, Kashmir.

March 26 2021.

 Subject: Career Progression process across all levels of the Bank.

 Sir,

 Transparency, people- oriented policies and a culture of knowledge- sharing is what management of a growing organization should be committed to. The philosophy and approach of leadership towards people’s issues is that employee oriented initiatives must include development and learning, work environment and communication, rewards and recognition, health and well-being, balancing work and professional life and financial security.

Management must be open to anything and should provide latitude to all employees to voice, their opinions, be heard, and feel valued. Everybody, in our bank will have to be accessible regardless of seniority, level and function. Any issue that employees are concerned about needs to be discussed, not just those considered by the top management but such a culture does not evolve by accident. It is developed from carefully thought out process, a conscious set of decisions, and the selection of specific policies and procedures. We all have to initiate and contribute to this cultural change.

Our bank is in the process of consolidation and strengthening the balance sheet along with far reaching changes in the business strategy, that include amalgamation of branches falling in proximity, closure/ shifting of administrative offices, lending to highly rated companies in corporate world, focus on building of retail loan book, stress on maintenance of quality of assets, up gradation  of technology and in built system based functions therefore it is also time to align our HR strategy with our business strategy. The role of management is of prime importance and all initiatives have to be designed to provide all employees of the bank with a happy and conducive environment, a planned carrier growth. These initiatives will ensure prosperity of our employees and strengthening of fundamentals and building a strong balance sheet of the bank.

Career progression is simply the means by which you move forward in your career – whatever “forward” means to you. The goal of management is to plan each of your roles so you remain motivated, engaged, satisfied and excited about your work. It’s also how you will get more responsibility and earn a higher salary. Career progression besides remunerative and competitive compensation always encourages and motivates to work hard, be innovative, explore your skills and lead your institution towards prosperity and progress.

The efforts of the Board of Directors of the Bank to fill the posts of Presidents and Vice-Presidents in the senior management band within a shortest period of time have strengthened the process of transparency and given a confidence and hope to other cadres down the level that they are in the next phase. The Publicly made announcements of the CMD in this regard were too encouraging. The Career progression process was on halt for quite some time for evident reasons and now as the things are moving forward positively, process needs to be initiated again at all levels so that employees feel connected and encouraged which will ultimately lead the bank towards growth, prosperity and progress. It is pertinent to mention here that career progression from scale III to IV and Scale II to III has already fallen overdue and early steps needs to be initiated in this regard.

Last but not least, in order to minimize the cost on account of career progression during the course of filling the vacant positions in different scales, it has been observed that bank has to incur huge costs not only to keep the interview teams comprising of various senior functionaries of the bank engaged with the interview process thus affecting the functioning and hampering the delivery channels but also involves cost on account of leaves being availed by the candidates for weeks together, affecting operational system which at this moment is unbearable for the bank. It is stressed that previous procedure and practice for promotion, purely based on seniority, merit and ability( Annual Performance Report) be restored. A survey conducted in this regard suggest that it involves at least Rs.21, 000/= per candidate based on average salary of Rs.90, 000/= per employee, for a minimum leave period of at least 7days (Preparation Purposes) besides huge administrative costs.

 Yours sincerely

 (Syed Jameel Qadri)

 Secretary