|
Business span: |
20 years |
| Nature of business: |
Banking |
| Employees: |
1484 |
| Omanis: |
1344 |
| Expatriate: |
140 |
| Women: |
560 |
It
is an amazing reversal of sorts. From the
bottom of the top ten list of our annual
Best Place to Work survey last year, this
bank has vaulted straight to the top slot.
While last year BankMuscat make it to the
top five on just three of the 15 parameters
of our analysis, this year they are among
the top on all. And not just this, they are
first on 12 of the 15 parameters, just
missing out the top position on
satisfaction, strategic goal and clarity,
and client service.
What happen? "Last year, we were halfway through the merger process and the integration of staff was yet incomplete. The feedback from businesstoday came in handy to take stock of our position. The senior management of the bank had put in a lot of effort to ensure total integration of the staff and ensuring that each of the staff remains highly motivated towards achieving the ambitious goals the bank had set for itself," says Abdul Razak Ali Issa, chief executive, BankMuscat. He further adds that the bank's excellent performance this year supports the view that their efforts are paying off.
In 2001, BankMuscat had managed to gather 745.67 points, lower than the previous year's high of 792.42. In 2002, with a total score of 914.9, BankMuscat has not just jumped way above its own 2001 score, but also topped last year's number one by a good 78 points.
Issa attributes the bank's better performance on all the parameters to a number of factors. For instance, he believes that an integrated and comprehensive training programme that covers banking subjects as well as encouraging right behavioural perform better. Commenting on its top position in career development, Issa adds, "We have encouraged our staff by providing financial assistance to them for studies, both locally and abroad, thereby reinforcing the fact that BankMuscat takes care of long term career development of its employees.
In a bank that has been growing at a rather rapid pace, mainly through mergers and acquisitions, it is easy for employee sentiment to be drowned amongst all other priorities. An informal as well as formal system of feedback at BankMuscat takes care of this issue. Explains Issa, "While the annual appraisal system provides the formal avenue for feedback, the bank's senior management interacts with staff at various forums/meetings continuously to obtain their informal feedback s it enables staff members to air their views without any reservations. The senior management assiduously cultivated an open-door policy for dealing with all staff related matters."
Issa reiterates that BankMuscat fully understands that for their chosen strategy for growth, in order for it to be effective, it is vital that the bank is perceived by its staff as being the best employer. "The staff in each of the merging institutions need to be assured that BankMuscat would treat them fairly and professionally. In BankMuscat they must see an excellent employer with whom they can plan their- long-term career. While we grow, it is important to retain the current knowledge base within the bank as this forms our most important asset. Our employee motivation and morale thus forms the core of our strategy. Our adherence to this philosophy is what keeps us ahead of the competition."
Best companies for Omanis
1. BankMuscat
2. Oman United Agencies
3. Radisson SAS
4. Matrah Cold Stores
5. Al Ansari Trading
6. National Bank of Oman
7. Zubair Automotive
8. Poly Products
9. Oman & UAE Exchange
10. Oman International Bank
Best companies for Expatriate
1. Oman United Agencies
2. BankMuscat
3. Radisson SAS
4. Oman & UAE Exchange
5. Matrah Cold Stores
6. Al Bustan Palace Hotel
7. DHL
8. Oman National Dairy Products
9. United Finance
10. National Bank of Oman
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