Fairness Policy
Name
Affiliation Question 1: Policy of Fairness for HYPERLINK “http://www.mashreqbank.com/” Mashreq Bank
It is in order to ensure that organizations have the best policies that does not only support the internal organization but also the clients side of the organization (external organization). Therefore, for the sake of this paper a policy of fairness of Mashreq Bank is going to be discussed in brief.
Fair Tax: In order to meet the current demands of the client in fair way, the bank taxes all the purchases and it has abolished the income tax. This policy has excluded discount class as well as the standard class clients. This policy is here to ensure that all the clients as well as the staff are considered equal when it comes to issues of taxation. In addition to this, the bank is ensuring that it meets the current demand of the lower class people. The tax is subjected to the people are an equal value that was approved by the government as well as the company board. This is done to ensure that all the customers have an equal share when it comes to taxation issues.
Fair Trade: The banks ensures that it undertakes all the functions especially in its functions to work in the fairest manner. The Bank undertakes its business trade with the client in trade that is open to both the customers and the government. This allows the bank to dispense its functions freely and fairly. HYPERLINK “http://www.mashreqbank.com/” Mashreq Bank never plays part in undertaking business that is not fair or has unfair roles or functionalities. For example, the business undertakes its roles as a banking business to ensure that it meets the needs of the clients when it comes to trade.
Fair Business- The bank works in accordance to the rules and regulations of UAE that allows a Fair Purchase Certified program. All the businesses in the country should work in accordance to this regulations in order to meet the needs of the customers as well as to work in accordance to the Laws of the country. Fairness Policy is the order of the day for HYPERLINK “http://www.mashreqbank.com/” Mashreq Bank.
Fair Staffing- It is the obligation of management of ensure that staffing is done in the most free and fair manner in order to meet the needs Employment laws of United Arab Emirates. This is one of the ways to ensure that best staff serve the people.
Fair Service Delivery- The business is on the eve of ensuring that service delivery to all the client are in accordance to the policies of the company. The Policy of Fairness is mainly aimed at improving HYPERLINK “http://www.mashreqbank.com/” Mashreq Bank economy, and makes it easier to do business and make a profit in the UAE.
Question 2:
HR Roles in Fairness
It is worth to note that fairness is not only a word to an organizations nor does it mean better life for both the employer and the employees, but it has various other meanings that come with the word fairness. Various department have different roles to ensure that fairness exist within the organization (to the employees as well as to the employers). Therefore, for the case of this paper I am going to address the role of Human Resource department of HYPERLINK “http://www.mashreqbank.com/” Mashreq Bank ensure that there is fairness within the organization as it dispenses its service to the client or as it undertakes its functions. The following are the roles of HR in fairness:
One of the areas that needs the HR evaluation in order to ensure that there exist fairness is the recruitment function of the HR at the bank. Here the HR department ensures that all the employees that join the organization are recruited and selected in the best way possible. This is to ensure that there exist fairness in the process. The bank ensures that a team of specialist are the recruitment board hence there is no biasness in the process. This is to ensure that all the employees have the same share in recruitment especially when it comes to gender.
The other role that the HR ensures that it adheres to have a fair policy is when it has safety environment. Workplace is maintained at the bank. This is one of the ways that there is elaborate and fair safety for the people in the workplace. It is clear that the bank is there to ensure that fairness in the safety process is implemented fairly.
The other function of the HR department is employees’ relation. Under this function, the HR ensures that all the employees in the bank have a better relationship with each other. This is to ensure that fairness in the relation process is just and to the point. Hence this is one of the ways that their exist fairness at HYPERLINK “http://www.mashreqbank.com/” Mashreq Bank.
The other role that the HR plays to ensure that there exists fairness in the bank is to ensure that the compensation and rewards are undertaken in the best interest of the Bank as well as that of the employees. The HR department ensures that all the employees are remunerated fairly and that the drafted compensation favors all the employees.
The last role of the HR in ensuring that there exist fairness in the organization is during training and development. The HR ensures that it adhere to a free and fair training program to all the employees of the bank. There should be no payment of fees for training and all the level of training must be done fairly and openly.
The HR also plays the role ensuring that it takes part in the compensation plan drafting and amending. In addition, it members are included in the compensation Commission.
Question 3: Compensation Plan
The manager of the banks must ensure that together with the board of director are able to come with a team of commissioners who will be mandated to ensure that deal with the issues of compensation plan hence all the issues will be addressed directly to this commission. The commissioners must be independent in their jurisdiction. This is done at the start of the year.
To the employees that were employed at the start of the year that is before July 1st they are given the chance to be added to the plan over which they were employed. They award or remuneration will be added based on the level of service to the bank (Gail Hepburn, Franche & Francis, 2010)
The CEO of the Bank is the one mandated to approve all employment done in the bank as well as approve any compensation awarded to the employee in the bank. Thus award is based on the employee contribution towards the company both in long-term as well as on the short term performance.
All the employees or individuals that will be in the compensation plan, must be employed at the time of the incentive plan (This is usually within the 75 days before the end of the financial year). This group will be able to receive a pay out if the compensation plan doe to their favor
All the employees that are determined by the commission and the board that are not feet or have attributed to poor performance will be removed from the compensation plan.
At the start each year the CEO in conjunction with the president of the Bank will publish all the name of those approved for incentive plan participants
Delayed compensation plan awards will get interest based on the standard index. This will be undertaken by the finance department. Employee will be selected and vote to have their rewards postponed prior to deferral payment date.
The compensation plan offers a credible information not only to employees but also the employer a platform to follow. This offers credible information for HR Analysis and evaluation.
Reference
Cooper, R. (2009). Forward with fairness? industrial relations under Labor in 2008. Journal of Industrial Relations, 51(3), 285-296.
HYPERLINK “https://books.google.co.ke/books?id=DoqV4OXwpl8C&pg=PA677&lpg=PA677&dq=Fo” https://books.google.co.ke/books?id=DoqV4OXwpl8C&pg=PA677&lpg=PA677&dq=Forward+with+fairness%3F+industrial+relations+under+Labor+in+2008.+Journal+of+%09Industrial+Relations&source=bl&ots=EEaybV1UZI&sig=siSDbnz_ZmNRg-oaBWezq2ylQ2o&hl=en&sa=X&ei=KUMAVZCON5Taasz7gMgL&redir_esc=y#v=onepage&q=Forward%20with%20fairness%3F%20industrial%20relations%20under%20Labor%20in%202008.%20Journal%20of%20%09Industrial%20Relations&f=false
Gail Hepburn, C., Franche, R. L., & Francis, L. (2010). Successful return to work: the role of fairness and workplace-based strategies. International Journal of Workplace Health Management, 3(1), 7-24.
http://www.emeraldinsight.com/doi/abs/10.1108/17538351011031902
Sengupta, I., Reno, V. P., Burton Jr, J. F., & Baldwin, M. L. (2012). Workers’ compensation: Benefits, coverage, and costs, 2010. National Academy of Social Insurance.
HYPERLINK “http://www.nasi.org/research/2012/report-workers-compensation-benefits-coverage-” http://www.nasi.org/research/2012/report-workers-compensation-benefits-coverage-costs-2010
Sutherland, C. (2009). Industrial legislation in 2008. Journal of Industrial Relations, 51(3), 297-311.
http://www.na.gov.pk/uploads/documents/1304920094_771.pdf
