Human Resource at SBP- Organization's strength

State Bank of Pakistan (SBP), the central bank of the country, delivers on its multiple and often competing objectives in the national interest to ensure monetary and financial stability, financial inclusion and sustainable economic development. Requisite institutional capacity in the form of optimal professional talent is critical for SBP in undertaking its unique and critical role in the economic development of the country. Selection of the right people for the job is the first step towards developing an efficient institution. Great stress is, therefore, laid on ensuring that the recruitment process at the State Bank and all of its subsidiaries i-e Banking Services Corporation (BSC), National Institute of Banking and Finance (NIBAF), Pakistan Security Printing Corporation (PSPC), Deposit Protection Corporation (DPC) is highly competitive, transparent, and merit based.

As a result of this focused policy, SBP is known as the employer of choice and has been able to attract some of the top talent in the country at entry level positions as well as at the senior levels in the fields of Economics, Finance, Business Administration, Information Technology, Media and other relevant disciplines. The competitive hiring procedure involves setting criteria on minimum level of qualification, skills and competencies needed for the job and nation-wide announcement of job opportunities. It allows SBP and its subsidiaries to tap a diverse and inclusive pool of people from different background and region; screening through recruitment testing conducted by independent agencies and interview by a panel of experts. As an equal opportunity employer, SBP consciously seeks diversity in terms of education, geographical representation and gender.

Although consistency and fairness in recruitment are the key to attract skilled people, retaining this talent is more challenging as it requires continuous efforts and investment. SBP adopts a strategy where it ensures market based compensation to people; makes considerable investment for building their capacity; provides them opportunities to learn and grow; and recognizes their efforts and good work. This strategy has created an environment that encourage employees to own the institution.

At SBP, consistent efforts are made to provide conducive work environment to foster professionalism and high quality performance. It enables the Bank to achieve its strategic goals and ensure enhanced employee engagement levels. SBP also strives to ensure leadership development and effective grooming of line managers to facilitate effective capacity building.

Thus, training has been an important aspect of the strategy adopted by the Bank to enhance the quality of its human resource base. Indeed, continued emphasis on learning and development has played a vital role towards successful accomplishment of SBP’s mandate. By providing the employees with opportunities for acquisition and enhancement of skills, linking the learning process with results and making learning an inherent part of the Performance Management System, SBP has transformed training into a requirement of preference, rather than compulsion.

As regards work environment,  a value driven culture is promoted at SBP and its subsidiaries. SBP's values of Integrity, Accountability, Teamwork, Courage, Excellence and Result Orientation are brought to life in the attitudes and behavior of the employees.

The Bank values work-life balance and offers opportunities for out of office and informal gatherings of employees with families to provide an occasion to relax, rejoice and socialize. An annual “Fun Gala and Musical Event” is one of those gatherings. In addition, a mandatory and paid ‘Rest & Recreation’ leave is availed by the employees every year.

Professional development is incentivized at SBP and its subsidiaries. Employees are rewarded for acquiring foreign and domestic professional certifications and encouraged to pursue higher studies. Scholarships for PhD or Master’s leading to PhD are allowed. Currently, SBP has a considerable number of PhDs working at various hierarchical levels. In order to support research, training and learning endeavors of employees of SBP and its subsidiaries, SBP library offers rich collection of books, periodicals and other publications.

Being an equal opportunity employer, SBP recognizes the evolving role of women and strategic significance of their inclusion in workforce for achieving organizational objectives. To encourage female participation in the Banks’ workforce, children Day Care Centre is available within SBP that is equipped with professional staff to look after the children. Although the facility is generally utilized by female employees, it is equally permissible to male employees.

State Bank looks after employees of the Bank and its subsidiaries and provides medical care to them and their dependent family members which includes spouses and children. Medical facility includes examination by the Bank’s doctors; provision of medicines from the Bank’s dispensaries; consultation with specialists on the approved panel of the Bank and hospitalization in approved hospitals.

In order to provide a timeout for recreational and healthy activities, a state-of-the-art Health Club and Gymnasium within the Banks premises with latest equipment for physical fitness is available to Bank employees. Cricket, badminton, football and table tennis tournaments are organized regularly around the year. Local and regional teams participate in these events. To institutionalize sports activities, SBP organizes these tournaments separately for its employees.

State Bank firmly believes that the principal source of our strength as an organization is our human resource base. Managerial attention at the Bank has, therefore, focused on the need to continuously invest in people, provide them with the right incentives to perform better and to make merit and performance the criteria for professional and career development. SBP endeavors to develop and sustain a work environment in which each employee is empowered, is provided with opportunities for professional growth and is recognized and rewarded for the contribution made towards achievement of organizational objectives. SBP values diversity in terms of the unique characteristics that each member of the team brings to the organization as reflected in diverse educational and professional backgrounds, cultural and gender perspectives. This mix positively impacts institutional approach and decision-making processes by providing a broader horizon and helping the institution to be a more robust and dynamic organization.