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Human resources are the key fuel to the Company’s incredible growth and a key element in attracting and retaining talent. The Human Resource function has over the year fully developed its capabilities and improved a scalable recruitment and human resources management process, which enables us to attract and retain higher caliber employees and contribute to the Company in its role as a Strategic Business Partner. |
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Running a Microfinance Institution is a labor-intensive business. The basic challenge is to find a large pool of people with the right skill sets and aptitude, followed by additional challenges of retention, talent management and development. At the end of December 31, 2010, the number of employees at Company stood at 69 (15 female) across the branches. Field staffs numbered 26 (37.68%); Office staffs 21(30.43%); and Management staffs were at 9 (13.04%). |
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| 1. | Major Achievements | ||||||||||||||
a. Streamlining and smooth functioning of HR functions and interventions. This provided a one-point contact for the employees at the Head Office to address and resolve routine issues. |
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| b. Optimisation of the organisational structure for role clarity. | |||||||||||||||
| c. Review of the HR policy and manual to meet our stakeholders’ expectations. | |||||||||||||||
| d. Improving the Performance Evaluation procedure. | |||||||||||||||
| e. Upgrading the Compensation and Incentive system. | |||||||||||||||
| f. Enhance the staff orientation/induction program. | |||||||||||||||
| g. New Competency-based performance management for operations geared toward Department Managers, Branch Managers and Assistant Managers. | |||||||||||||||
| h. Development of the staff survey, working environment, staff satisfaction, training needs. | |||||||||||||||
| i. Staff Capacity Building. | |||||||||||||||
| j. Opportunities have been made available for employees to get a range of skills though internal job rotations. | |||||||||||||||
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| 2.Staff Flow |  |
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| a. New recruitment 19 staff b. Promoting 3 staff c. Resignation: 13 staff d. Termination: 4 staff e. Staff Turnover rate: 19.8% f. Training: 10 courses, 28 staff (11 female) |
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3. Human Resources Development 4. Staff Educational Support CBIRD is highly committed to revising and developing employees’ capabilities and this was evidenced in 2010 by the company’s support of the continuation of a staff member’s higher education in pursuit of his BBA, in the faculty of law. 5. Employment Chances The strengthening of CBIRD’s financial services and further new expansion into target areas during 2010 generated nineteen new staff positions and resulted in the promotion of three members of our staff in our branch and head offices during the year. For example, CBIRD MFI encourages others within our organisation to strive for excellence. 6. Compensation The Company adopted a performance-linked compensation program that links compensation to the individual performance as well as the Company’s performance. Top performers will be promoted or escalated by 1-3 levels of salary. Performance evaluation is done for all the employees in the Branch Offices and Head Office once a year. The process is found to be very effective and is seen as a process of feedback and also for assessing the potential of employees for handling newer and bigger roles. 7. Incentives Incentives are paid to all employees at the year end. The organisation has a performance based incentive system for the staff. The incentives depend on branch performance on portfolio quality and profitability. 8. Bonus program During the year, employees were provided with a two-time special bonus for Khmer New Year and Phchum Ben. 9. Succession planning Attract, develop and retain the best talent. We build on that advantage with best learning and development offerings that support employees in their current jobs and prepare them for future roles. We are developing future leaders, building our pipeline of leadership talent to execute our strategy and fuel our growth in the future. 10. Orientation program An orientation/induction program is held for all employees to acclimatise them to the culture and working of the organization. This has reduced the time taken for people to be effective in their new roles. Employees from the Head Office are taken for branch visits to familiarise them with the Operational processes and also to help them understand the way the business operates. 11. Building an inclusive organization The year ahead will be crucial for the Company in terms of growth and the focus of HR is to have an engaged workforce. Creating and cultivating a talented workforce will help us in our mission. Major efforts will also be made to build scalable HR systems to move the organization from good to great. HR process automation and Employee Engagement would be the key to achieving this goal. The focus for this year will also be on building and retaining talent using performance consulting and competency based approaches. Building leadership talent will continue to be a focus area from a training perspective. Several behavioural programs for different groups and functions will be launched. A scientific process to identify training needs and catering to those will be mapped out. Competency awareness campaigns will be rolled out across the organisation for different functional levels. High Potential employees will be identified and groomed through learning interventions for Succession Planning, Career growth and Self-Development. 12. Joining to improve the Human Capital:
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