Research Bank Sohar

advert for Project confine Table ContentsPage safe turn Acknowl pungencyment abridgment Action Plan Chapter 1 design 1. 1Introduction 1. 2Rationale of the Study 1. 3Objectives of the Study Chapter 2 check over OF LITERATURE 2. 1 Introduction to the ships lodge 2. 2 Meaning of the topic 2. 3 Objectives and investigate of the topic 2. Different types of employee indigence Chapter 3 METHOD OF RESEARCH 3. 1 Design of the claim 3. 2 Methods of accumulate in fundamental law 3. 3 Types of look 3. 4 savor size used in interrogate 3. 5 limit 3. 6 Analyzing the information Chapter 4 FINDINGS & RECOMMENDATIONS 4. 1 Findings 4. 2 Recommendations culture Bibliography ACKNOWLEDGEMENTSAt the out bunch, I would desire to thank my Guide who explained to me to the full(prenominal)est degree this Research Project in a truly clear manner and assisted me at e genuinely step in complementary it successfully, and my thanks be especi eithery collectable to for all his cooperation , in spite of his massive schedules of accomplishment, and the Trainer who was really overhaulful in providing me with accurate information to use in this Research, and I convey my thanks to all the colleagues who cooperated with me by go awayicipating in the look by appearance of responding to my interviews and to the indecisionnaires which helped to lead me to findings and conclusions. in conclusion I thank all the volume whoalways helped me and stood by me to brook all the mandatory assistance to my commandment. ABSTRACT The productivity of the round depends upon many factors for the avow. Humans atomic subroutine 18 interlinking beings which need sustained pauperization to score out without being burdened. Therefore, the Human Resources surgical incision should non nonwithstanding impart penuryal triggers exactly too should encourage the divers(a) radicals of the round to brinytain a sinewy argument these ensure a continuous boosting of the cater s energy takes.Dedication and truth to the company groundwork to a fault be cultured by providing ply with encourage means to develop themselves as hygienic as the company. The ply which feels comfortable with the bound depart unlikely shift to former(a) patoising companys. Dedicated employees uncoercedly work for the commit. By comparing with new(prenominal) trusts, the chamfer should qualify its policys and purposes so as to non only attract to a greater extent than guests solely likewise attract much supply from the some opposite swans. Motivation gum olibanum plays an important role thus in maintaining a arable provide. A move over lag pass on anticipate non only customers needs entirely also try to develop bank make innovative ideas. This research is conducted to study the motivational smells of assert Sohar.The findings of the study demonstrate that proper(ip) strategies and right procedures atomic number 18 followed in this lodge Sohar. ACTION PLAN ID Task cypher Start Finish Duration 1 Introduction Discussion with the guide close to the topic. throttle the requirement and objective. Prep ar questionnaires. readying for interview and making interview. De bourneinaline and relieve the research regularityology. 2 Literature study 3 information prayer Determine and justify the research methodology. Collection of roughly(prenominal) primary and secondary dates by as indisputable methods. Selection and preparing detailed and pertinent objectives. 4 psychoanalysis of the research discover Analysis and interpretation of selective information and carry the research into specified aras. Making preservevasss with the guide regarding the project. 5 Documentation Prep be the full project in unmatched accept format. founder and evaluate findings and recommendations. 6 Presentation Chapter 1 1. 1 Introduction brim Sohar was open up on 9 April 2007. Although it is a really short metre since it s tarted its operations, it has been an extraordinary prison term as this new bank changed the backdrop rules for banking in Oman. Dr Mohammed Abdul Aziz Kalmoor, the CEO of the bank tell this course of instruction that their in develop of operating profit showed up a 31. 3% subjoin in 2010 from that of 2009. The banks net loans and mounts grew by 14% in the last year. node deposits live with augmented by 20% in 2010. brink Sohar has introduced friendly pecuniary solutions for e actuallything from the purchase of cars to spunkyer education. Their increased intercommunicate has given it an added presence and opportunity to filter out their customers. Their new branches in prime(a) locations of the county have given the bank an edge in the market and talentened its flavour in the banking sector of the economy. b pronounce Sohar has create a tradition of meeting the customers from contrary parts of the country at cozy gatherings and road shows. This has turned out to b e a model for modern marketing. situate Sohar believes that customer atonement is the critical amount of money for banks success. alto holdher the decision-making processes at assert Sohar argon taken up by its finance team which assists the executive director direction and the board in planning and provides information and critical analysis of the desires executing on a continuous basis. It is connected to providing quality banking solutions to help customers pass their financial goals. A dinky pillowcase is that it is the wedge Sohar which introduced for the graduation m the cash deposit facility by dint of their ATMs. whole other banks in Oman emulated this bank soon. By stick toing a lifecycle approach to the kinfolk sector they have created value-added operate much(prenominal) as unhomogeneous savings deposits options, mortgages, consumer lending, insurances and wealthiness management products and so forth In addition, they admit open their clientele o f small and medium entrepreneurs wellnessy informed of the market studys that whitethorn coin their enterprises. affirm Sohar always tries to tailor its services to suit the requirements of not only singular customers but also potential customer groups like the business communities. Thus they adopt sector- particular approach to incorporate banking. As the profit of the bank has increased by means of orifice of several new branches, lag strength has automatically increased to over cholecalciferol by the end of 2010. rims Omanisation ratio has steadily improved to 88% year after year. These strikements ar receivable to the efficient management of human resources at the bank. The Human Resource Management (HRM) of marge Sohar has been streng thusing the profile of the bank by implementing its strategic goals through best external practices in human resource management.The bank encourages its cater to expose to the new and promptly changing areas of banking industry. Facilities for learning and developing maestro experience are regularly set up by the lag at contrasting levels. In short, savings bank Sohar can be described as a bank, deep committed to delivering excellent services with gimmick and integrity to their customers. In no time it is sure to give their vision avowal One stop financial highly mall having boutiques of products and services across various segments, each with a unique set of pro come outs 1. 2 Study the rationale As an employee in the bevel Sohar, I have the personal knowledge and understanding of the banks organization and its activities. cant Sohar is he fastest upcoming bank in our country. It follows its own strategy to deal with the customers directly. E very(prenominal)body operative in this bank like me is do by respectfully and cordially. Their treatment can be said to be the main bring up for the progress of our bank during this short hybridize of five years. 1. 3 Goals of the study The main goa l of this study is to recognize the methods of prompt and encouraging the lag at beach Sohar. Also it is to commit what makes the Bank Sohar achieve success in all branches in general and in Ruwi subsection in particular. Chapter 2 2. 1 Introduction to the company At Bank Sohar, banking is made easy.All the employees in the bank are committed to making the banking experience much silver and efficient. Bank Sohar is well-reputed for its open and communicative family with the customers. They know that you are the best realistic source to inform them the best way to cater your needs. Here you get narrow down divisions ready to serve you. Customers requirement and queries are met by specialized Relationship motorcoach of the concerned division. They also try to solve all your banking issues with a click. With their e-Channels, your bank has become portable. Accessing your bank explanation has been made easy as you can access through the ATMs, Internet.Customers can also have on frontier connectivity to their account through sprightly phones. They offer a wide carry of treasury services to elephantine corporate clients, small and medium enterprises and various organisation departments and fund managers. RO clearing and settlement RO openments to Bank Sohar accounts as well as to accounts at other banks having a presence in Oman Treasury and Foreign Exchange imply services Local cheque assembling Prompt query handling heights degree of automation and straight-through processing online view only access to your account 2. 2 The meaning of the topic Employee motivation plays live role in the development of the company in many ways. ttp//www. managementstudyguide. com/importance_of_motivation. htm 2. 3Objectives and research of the topic Bank Sohar provides the opportunities improvement to the productive supply. Its in general essay to recognize the achievements and to earn more remunerative results which depends on the on the quality of stave motion, thats why it always tries to provide their employees a devout environment in order to promote personal growth. Bank Sohar gives importance to the group interest which is pose above the individual level. The officials at the bank always treat their customers, suppliers and even their colleagues very pretty and objectively.Behind all of the mentioned above, the future(a) points are the main objectives of Bank Sohar which they are always trying to keep specific principles to help in improving their implementation Provide healthful and safe work guide. turn over sure that the work environment is preventing the disenable people work practices and dont present the prejudices and unreasonable barriers for which they are commensurate inside the bank. Decrease the number of component for employees which can be made to the organization. put up and return the right round at the right time to the right place to work. Promote the qualified and expertnessed faculty ba sed on in that respect performance very middlingly, which go forth gain their intrust of fair treatments. 2. Different types of employee motivation 1. thank award letter Bank Sohar awards their staff calendar monthwise by choosing the employee of the month, quarter and end of the year ,so that it provides them a voucher and including a Shukran (Thank You) distribute Letter. Example Mr / Ms Bank Sohar, Danq subsection NSC plane section ,Oman 20 February 2010 Dear, Shukran (Thank You) for your initiative and obedient moderate. Congratulations and thank you for your hard work. We trust that your get outingness and initiative serve as an ideal to your colleagues. We appreciate your commitment and dedication in cooperating the department in the absence of devil staff who have re sign(a).You demonstrated that you were go forthing to shoulder additional responsibility and support the smooth running of the department. In type of our appreciation, this Bank Sohar awards you a Shukran Certificate, Smiley Badge and a Gift voucher. Yours Sincerely, HEAD HUMAN choice DEPT. 2. Long Term Services deliver Upon the completion of 10, 20 and 30 years, staff go away be given the next awards 30 geezerhood Certificate signed by the Group Chairman, a bequest of the employees choice (Approximately cost USD 1,000) and one months basal salary. 20 age Printed Certificate signed by the alternate Chairman & CEO, Bank Sohar. 10 Years Printed Certificate signed by the line of business CEO. 3. Training Overall AimTo ensnare and maintain a key war-ridden advantage, Bank Sohar is committed to investing in human resources development through relevant ,planned and musical arrangementatic educate and other activities, which ordain contribute directly to the achievements of Banks business objectives, as well as meeting the demands of the Omanisation process. The basic teaching leave be conducted by the Learning and suppuration Manager. Where requisite, regional breeding centre trainers at Muscat leave behind conduct courses throughout Oman depending on the training needs. In addition, staff may be nominated to attend various training course held in Muscat and the group training at the Management breeding Centre, Liverpool ,UK.External training may also be provided mainly through College of Banking and pecuniary Studies and other local institutes in Muscat, Salalah etc. On the origin training may also be arranged, if line managers come upon any much(prenominal)(prenominal) needs. Details of the training courses are available on the intranet or may be obtained from the Learning and Development Manager. 4. Career Development Employees retiring within two years from the date of drawing off up or followuping the rotation plan will be exempt from that job rotation un slight it is deemed necessary to accept the rotation of others. Should line managers be otiose to rotate any of their staff in accordance with these guidelines he or she essential justify the exceptions ensuring that the department head supports the exceptions made. In small or specialist departments such as HR,TSY, Legal, IT or for translators ,job rotation may have to be less frequent than the guideline suggested above. 5. Retirement Staff will retire from Banks participation on attaining 60 years (for male person staff) and 55 years (for female staff). This is not applicable to temporary employees. Your age is the number of years elapsed since the date of your assume as stated in your invest cards, birth certificate or passport. The bank will write to you not less than one month in advance confirming the date on which you will retire. End of services benefits will be handled in accordance with the laws regulations of Public potential for Social Insurance. 6. End of services benefits For the Omanis indemnity Scheme Bank will pay 10% of the monthly deducted salary and contributes to the pension off scheme of the retired Omani employees who w ill be receiving their monthly pension as per the rules and regulations of PASI. For the bear employees Terminal Benefit Bank will pay the expatriate employee a largess at the of half a months basic salary for the first five years of service, which will be granted at the time of quitting the job. 7. occupational Health & Safety at break Making sure that they protect there staff health and safety at work is essential . We make the equivalent commitment to our customers and any other visitors who come into our branches or offices.Its the Banks objective is to promote a healthy working environment and a high level of safety management and resurrect prevention. As an employee of the bank, you have a major responsibility for maintaining health ,safety and fire management guidelines of the work place. These are essentially to need reasonable care for your own health and safety and those who may be modify by your action. To follow any set(p) down procedures and guidelines communic ated to you. To bring to the attention of management any defects in the building, electrical trunk and machinery. Chapter 3 3. 1 Design of the study Primary Data This is the selective information acquired through the distribution of questionnaires and from the personal interviews.The personal interviews are always not attainable and require more time. Therefore, Primary entropy is the un-analysed data obtained from research methods. Secondary Data The data which on analysis gives perception and information to the grounds of research is called Secondary data. This data is classified into qualitative and quantitative accordingly the Secondary data is important for the formation of new grounds in the research. 3. 2 Methods of the collecting data Primary Data 1. Questionnaire It is a list of questions containing all the possible parameters that the tec wants to consider. It is the easiest and fastest way to do a research.The advantage is that only in demand(p) palm are considere d and hence the data obtained is more focused. 2. Interview In this type, the police detective communicates with the employee or customer for their opinions and thus researcher can obtain personal opinions of the fields that the researcher wants consider. But the data is not focused. 3. Observation Observation is the method in which the researcher prises the fields without interfering with the process. The researcher deduces the data from his observation. This does not require search for contacts. 4. Experimentation Its a proficiency used to do the investigations, which will observe the changing and find out where the influences are including the regards. Secondary Data magazine publishers -Business Today magazine (April 2011) Times of Oman (dated 23 April 2011) Internet websites www. banksohar. com www. zawya. com www. ameinfo. com (http//www. humanresources. hrvinet. com/questionnaire-method/) Books brochure of summery review of Bank Sohars Brand and Values in 2009 (Provi ded by the HR) 3. 3 Types of research Questionnaires In Bank Sohar, the service quality is of ut some importance. To achieve this many strategies are used. The Human Resources part of Bank Sohar mostly uses questionnaires to collect the data from both the employees and customers. This method, as mentioned above, is easy and efficient.The data thus collected is then get on analysed. Such method helps the bank to review its performance and also to know of the popularity of its various services. 1. In comparison with other banks does Bank Sohar provide you best way to get staff motivation A. Yes B. Some generation C. No D. At all 2. What do you think Bank Sohar should focus to achieve more staff motivation? A. Promotions B. honor remains C. Salary review D. All above 3. Is Bank Sohar providing the side by side(p) selections to their employees fairly? A. Yearly bonus B. Promotions C. Increment of allowances D. aid 4. Compared with other local banks, Bank Sohar provides good condit ions to ts staff? A. Yes B. No C. No comments D. No answer 5. What makes you feel noble to work for Bank Sohar? A. Work environment B. Policies and conditions C. team Work D. Rewards system 6. Does your current position satisfy your motivation level employ the specific conditions? A. Yes B. No C. Sometimes D. No comments 7. Which of the following banks would you like to apply in future? A. Current bank (Bank Sohar) B. Bank Muscat C. HSBC D. Nothing from the above. 1. Do you think that the bank is providing you a very fair performance appraisal? Yes they are discussing with us before confirming Human Resources close to(predicate) the final performance results. They are using a very fair system where you can load what you have done during the year including the extra improvements, so it will be very clear for them to dismiss each one among the bank. 2. Is Bank Sohar desktop a fair targets for each staff? Actually there are some people in the management departments dividing the work not in order to be covered by all staff, so in this some of the staff will feel de instigated as he will be pressurized in compare with others. 3. Does you line manager update you about your performance from time to time? Yes, whenever any computer error is done he will keep me updated and insure that it wont elapse again. 4. Does Bank Sohar provide you a see to develop your skills? Actually, they are always promoting an online courses which you can go through it any time, but before the due dates. They are move their staff for external courses in the College of Banking and Finance. In addition they also provide us chances to graduate with higher diploma certificates for such specialized subjects. They are recognize their staff annually one person from one department by sending them for an adjunct to one of the Europe branches, in order to learn more and gain more knowledge. 4. What are the returns which you can provide to the bank if you are satisfied with them? I will do my best to increase the number of quality customers which will help in increasing the profit of the bank.Also I will be proud in front of my family and friends to work for the bank in order to keep a good view for people who are thinking to apply for the equal bank particularly qualified and experienced people. 3. 4 Sample size used in interview method as follows Sl NoOrganisationDesignationName of the Employee 1. 2. 3. 4. 5. Loan Department Salary & Deposit Cards Department Corporate Department Remittance colleague Officer Manager Officer Manager Ibrahim Issa Ibrahim Al Zidjali Yusuf Suleiman capital of Oregon Al Wahibi genus Anas Hamad Seif Al Wahibi Juma Rashid Juma Al Saadri Fahma Al Mugheini Sl. noLocationCustomer/StaffName of the Employee 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 primary(prenominal) secernate primary(prenominal) tell master(prenominal) setoff Qurum counterbalance Qurum Branch Main Branch Al Sarooj B ranch Al Khuwair Branch Al Khuwair BranchMain Branch Al Khuwair Branch Al Seeb Branch Al Khuwair Branch Al Khuwair Branch MQ Branch Main Branch Al Khuwair Branch Qurum Branch Qurum Branch Main Branch MQ Branch MQ Branch MQ Branch Main Branch Al Seeb Branch Al Seeb Branch Main Branch Main Branch Main Branch Qurum Branch Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Employee Eyas Sayid Saud Al Mashri Sara Teasdale Iman Seif Al Lamki Tariq Mohd. Al Balushi Assim Ahmed Ali Al WahibiAbdul Aziz Abdullah Al Wahibi Abdullah Ahmed Al Wahibi Abdullah Siddik Al Balushi Narjees Saad Al Harthy Abdullah Mohd. Al Balushi Amina Seif Al Mussallum Majd capital of Oregon Saleem Al Wahibi Mohd. capital of Oregon Khamis Al Saithani Mohd. Salem Mohd. Al Wahibi Mohd. Mubarak Sayid Al Oufi Mohd. Mousa Yahya Al Harbi Mohd Nasser Humeid Al Badaae Masoud Salem Al Harthy Frhat Ali Al Zidjali Nadia Issam Al Balushi Dawood Ibrahim ASalmi Ali Salem Al Shammaqi Salem Manal Al Tourqi Juma Rashid Juma Al Saadri Hussain Sayid Al Lawati Saad Salem Al Balushi Sayid Rashid Mohd Al Oufi Saifuddin Hisham Aziz Diwidaar Seif Sayid Nasser Al Wahibi Yusuf Yaqub Al Alaawi 3. 5 LimitationNo matter what method the researcher uses, there are always certain disadvantages. And moreover, in most cases the time is confine and therefore it becomes hard to manage the collection and analysis of data. Other limitations that I face are Some information about the bank is not accessible and is voiceless to find As I chose the method of interview I got mixed up answers. As the level of knowledge and skill differ from one person to another, the responses varied greatly. In order to trace the course in my data, I had to use large numbers of samples or interviewees. 3. 6 Analyzing the data 1. In comparison with other banks does Bank Sohar provide you best way to get staff motivation? culture In the above chart it shows that most of the staff was satisfied with the motivational level which is been provided by Bank Sohar, as the negative answers are least chosen by the employees question (represented by C and D serial in graph) are not very satisfied with motivation. 2. What do you think Bank Sohar should focus more in order to achieve staff motivation inference Bank Sohar, staff are not intelligent with their salary as it wasnt a good review for their salaries, but at least the rewarding system was playing a good part in their emotions. This can be easily understood by looking at the number who was ingenious with their salaries. 3.Is Bank Sohar providing the following selections to their employees fairly? Conclusion Bank Sohar staff are not happy at all with the pension policies,where the level of satisfaction in the yearly bonuses was covering that function of motivation leve l which follows the promotion level, then it decreased again in the allowances increments. 4. Compared with other local banks, Bank Sohar provides good conditions to its staff? Conclusion Bank Sohar staff is happy with the conditions which are provided to them as the calculation was very high in that level. Where some of them only are not satisfied at all, and at the lowest level was reckon in no nswers as most of them didnt answer the question. 5. What makes you feel proud to work for Bank Sohar? Conclusion The level of team work satisfaction was very high amongst Bank Sohar staff as one of the banks aims is to create a good environment and a warm team work, as it shown in the results that they are happy with that strategy. 6. Does your current position satisfy your motivation level using the conditions? Conclusion Bank Sohar staff are very happy with the conditions provided to them in their current furor where it was fluctuating between no answers and no comments, but in gener al they are happy with the conditions provided to them. 7.Which of the following banks would you like to apply in future? Conclusion The staff are mostly satisfied and indirect request to continue working in the same environment in Bank Sohar. They are not satisfied to work with other banks in comparison. The highest result was calculating for Bank Sohar, so in general they are satisfied with the future chances which are provided to them. Chapter 4 4. 1 Findings On referring the observation pictured in the graphs, the human resources department of Bank Sohar is taking appropriate steps for maintaining the motivational levels of the employees. It closely monitors the employees and then relates their levels to their performances.The staff is happy with the policies and conditions provided to them and the staff satisfaction is in high levels. Highest levels of staff satisfaction in the bank can be achieved through continuous comparison the facilities which are provided to their staff w ith those of other banks, thus the bank will be able to identify the positive triggers which attract employees and consumers. The bank through this can identify its weak areas. Therefore the bank should look after other banks issues seriously and try to learn to not commit same mistakes and plan sagely to leap in the market. Some other measures to ensure staff motivation embarrass The bank should do salary review from time to time. By improving the level of motivational facilities such as increase the level of allowances, promotions, more development skills programs and rewarding system show positive levels of motivation. passim the year, the staff is to be updated regularly about their performance. The bank needs to do more comparison with its competitor banks in term of motivating their staff. In general Bank is doing a very good job and they are always trying to motivate their staff and try to keep them for ever specially the experienced and skilled people. 4. 2 Recommendation 1. Regular surveying is necessary to measure the motivational levels of the staff. This enables management to update various hindrances which exercise de-motivation. 2.Personal opinion gatherings are essential to make the bonds between the management and employees which is essential for long term performance development. 3. By increasing the factors that cause the motivation, the company can instill motivation. For example vouchers limit can be enhanced. 4. By involving various levels of employees in the meetings to induce motivation into the lower levels of employees and help in boilers suit staff development. 5. By sending the staff to other institutions for development and other educational programs, the motivation levels can be increased. Conclusion Motivation level can be developed easily in Bank, as the management should keep in their minds that they are dealing with humans who need a special and very respective bar level.Generally management should follow a proper strate gy in treating their staff by following the right procedures so as to intensify motivation and competition. Bank Sohar prioritizes the motivation of the employees as an important aspect in the whole banks functioning. The Human Resources Department of the bank regularly surveys and finds various ways to ensure the tenaciousness of the motivational levels among the staff. The bank well understands that healthy competition and motivational are vital for dedicated performance. Bibliography www. banksohar. com www. zawya. com www. ameinfo. com http//www. humanresources. hrvinet. com/questionnaire-method/ Business Today Magazine (April 2011) Times of Oman (dated 23 April 2011)