Anda di halaman 1dari 2

1 Pay Model of ABL


1. OBJECTIVES: It is the policy of Allied Bank to administer compensation fairly and equitably based on valid classification and performance standards keeping in view the latest market trends which would lead in the formation of: 1. 2. 3. 4. Integrity: The employees will be loyal and honest in their work. Excellence in Service: The employees will effectively pursue their customers. High Performance: They will put their best effort in both task and contextual performance. Innovation and Growth: Satisfied employees lead to innovation and growth because ABLs

corporate strategy is Growth Strategy.

2. INTERNAL ALIGNMENT: ABL sets or adjusts salaries based on the market driven guidelines and other managements possible preferred decisions to increase by incremental effect or percentage rise. Pay Ranges and applicable allowances are to be kept in uniformity with peer banks. All compensation practices in the Bank shall be made fairly on the basis of merit, length of service, qualification, performance and other approved considerations/criteria. The differentials mean the difference of compensation in terms of financial or set of products offered to the staff as compared to the other banks. Differentials may include: Competitive salaries based on leading banks of the country. Rates of regular and special increments. Multi products composite with households items, cars etc.

March 28, 2012

2 Pay Model of ABL

Career path programs for qualified inductees.

3. EXTENAL COMPETITVENESS: All regular staff finances admissible under the banks rules are to be regularly differentiated under peer banks analysis for further review of the competent authority. The leverage increases, soft conditions and term structure of interest rates so proposed, will be preferably viewed on the basis of market offerings/relaxations/economic conditions to maximum safe guard the interest of employees for having the ultimate competitive edge of staff facilitation. However, the bank interest should be fully safeguarded in such cases. The following are the categories of staff finances: House Building Finance (HBF) Basic Finance Car Lease Motorcycle Finance Any other finance, as approved by the competent authority.

4. EMPLOYEE CONTRIBUTION: All compensation practices shall be made fairly on the basis of merit, length of service, qualification, performance and other approved considerations/criteria like high performance of teamwork.

5. MANAGEMENT: Employees compensation variables and other fringe benefits offered to the staff of the Bank will be adjusted and maintained from time to time to keep it transparent, uniform and competitive with the industry norms. Broadly, the Human Resource Group has a vast responsibility to ensure fair and transparent process to generate a professional corporate image of ABL as an employer.

March 28, 2012