Five companies volunteer to participate in the project

By Sanath Nanayakkare

Grievance handling in Human Resource Management (HRM) refers to the process by which employee complaints, concerns, or disputes are formally addressed and resolved. The goal is to provide a structured channel for employees to express their concerns or report issues they are facing in the workplace for the benefit of the company, the management and the employees.

True to those values, the International Labour Organization (ILO) recently invited the Employers’ Federation of Ceylon (EFC) to initiate a pilot project to launch Grievance Handling Guidelines that were formulated through several workshops conducted in 2019 in consultation with ILO constituents.

Giriulla Mills Ltd, HNB Assurance Ltd, HNB General Insurance Ltd, Cambio Software Engineering and Taj Bentota Resort and Spa, volunteered to participate in this project. They represented the manufacturing, finance, IT, and hospitality sectors respectively. The pilot project was formally launched on 20th September 2022.

EFC’s team of trainers visited these selected companies and engaged in discussions with their management to gain insights into their existing employee grievance handling systems.

They also gathered feedback from employees to assess their satisfaction with present grievance mechanisms. Based on the findings, EFC team developed customised grievance handling policies aligned with each organisation’s culture and specific requirements of each company to ensure practical implementation of the same.

All these grievance policies were designed in adherence to the Guidelines on Grievance Handling which were established for Sri Lanka in 2019 through workshops conducted by the ILO.

Following the development of these policies, four training sessions were conducted for the management teams of the participating companies. During these training sessions, the policies were presented in detail. The sessions also aimed to provide a comprehensive understanding of what constitutes employee grievances, the importance of addressing them promptly and the potential consequences if grievances are left unattended.

In addition to policy dissemination, the training sessions also focused on equipping managers with the necessary skills to effectively handle employee grievances. This included discussions on communication strategies, conflict resolution techniques, and the importance of empathy and active listening when addressing employee concerns.

The Commercial Bank has won the Marquee award for ‘Best Treasury Team’ in the Financial Institutions category at the 2023 CT Awards presented by Corporate Treasurer – the print publication in Asia dedicated to treasury teams and Chief Financial Officers (CFOs).

The CT Awards ceremony was held at the Marriot Tang Plaza Hotel in Singapore on Tuesday 21 November 2023. The event celebrated treasury professionals who operate at the top of their class across three categories – House awards, Marquee awards and Best Treasury & Finance Strategies.

“The Treasury Department’s unwavering commitment to delivering outstanding results across various dimensions is at the heart of the Bank’s exceptional performance,” Commercial Bank’s Deputy General Manager Treasury Mr Asela Wijesiriwardane commented.

Fitch Ratings expects greater divergence in the performance of banking sectors in Asia Pacific (APAC) in 2024, with five countries set to report broadly improving results and three to see deterioration. These outlooks stand in contrast to those leading into 2023, when we projected a broadly stable performance for the vast majority of APAC banking sectors, with only our outlook on Sri Lanka judged to be deteriorating at that time.

The difference in outlooks is particularly marked between banking sectors in APAC emerging markets (EM) and developed markets (DM). All five of the countries where we expect an improving performance are EMs: India, Indonesia, Sri Lanka, Thailand and Vietnam. By contrast, we expect a deteriorating performance in the DMs of Australia and New Zealand, with China the only EM where the outlook is deteriorating.

Banking sector outlooks among many APAC EMs are generally supported by our robust economic growth projections. Growth should buoy loan demand and limit

the potential adverse effects on asset quality from interest rates, which we believe have largely peaked across the region. The markets where our (relatively short-term) sector outlooks are improving align well with our view on (longer-term) bank operating environment scores, which are positive in Indonesia and Vietnam, while the score on India was raised in 2023.