Annual Report 2012 - National Savings Bank

161BRANCHING OUT INTO NEW VENTURESSUSTAINABILITY REVIEWEmployee BenefitsWe believe employee satisfaction isan integral element of corporatesustainability. Therefore, we ensuremany welfare benets for our employeeswhile also focusing on attracting thebest talent and skills.Non Financial Benefits Grantedto EmployeesPermanent employees enjoy a range ofbenets from the Bank. These include astaff medical scheme, loan schemes atconcessionary rates, overseas and localtraining opportunities and the use ofholiday bungalows at concessionaryrates.The Bank also recognises the academicand sports achievements of the childrenof employees. On Annual AchieversDay, children with the best results in theGrade 5 Scholarship Examination, GCE(O/L), GCE (A/L) and outstandingperformance in sports and other areasare recognised and rewarded. Further,at this event, long serving employeesare recognised. To strengthen employeerelations, the Bank hosts an annual“Employees benefi tfrom a strong medicalwelfare scheme thatcontributes to ahealthier workforce.”sports day and special events like VesakBhakthi Gee and Christmas carols.Medical FacilitiesEmployees benet from a strongmedical welfare scheme that contributesto a healthier workforce. An EmployeesMedical Assistance scheme is availableat NSB where employees and theirfamilies can obtain medical assistance.The scheme covers a wide range ofsituations and includes routine medicalexpenses, specialist charges, dental care,eye care, hospital charges, continuedmedication for critical illnesses andspecial treatment for critical areas.Compensation Benefit Scheme forPersonal Accidents and DeathsNSB maintains a highly advantageouscompensation scheme for employeesand their dependents to be used inthe case of accidents, illness or naturalcauses, that may result in bodily injuryor death. To get the compensationunder this scheme it is not necessary forthe victim to be at work at the time ofthe accident.Labour RelationsAt NSB, we believe in mutualcooperation between employees andmanagement for sustainable and smoothday-to-day operations. Therefore,we adhere to International LabourStandards (ILS) in our operations. ILSembraces numerous aspects of labourmarkets, ranging from minimum wagesand equal pay, to health and safetyregulations. These standards can beclassied into six main categories.a. Respect for fundamental humanrightsb. Protection of wagesc. Employment securityd. Working conditionse. Labour market and social policiesf. Industrial relationsNATIONAL SAVINGS BANK . ANNUAL REPORT 2012