This essay Introduction has a total of 664 words and 7 pages.
Bank of Maldives Plc (BML) is the national bank of the Maldives , established on November 11, 1982. The main business of the bank is retail banking , in addition to handling development banking activities in all the atolls . Its services include electronic banking , loan facilities, credit cards and debit cards .
BML has 27 branches, including four in Male, the capital, one in Ibrahim Nasir International Airport ( Hulhule ' Island) and one each in both Villingili ward and Hulhumale
LO 4.1 Reasons for cessation of employment.
The voluntary termination of employment upon reaching a certain age. Applying to drafts to redeem by paying out sum of money, to withdraw from the market by buying back a voluntary leaving of public office or other form of employment, a leaving the court room by the jury to consider the case or by the judge to her chambers
Reasons for retirement in bank of Maldives are due to the age of the employee, that is 65 years but if the employee is willing to work they can stay in the organization but that is also if there was not enough employees in the organization to take his/her position.
Resignation is the process by which an employee gives notice of his or her intention to terminate the employment.
There are several reasons for employment resignations. They are:
In bank of Maldives the reasons that are being used are due to the long working hours, and not getting enough salary and also the employees can't spend the time with their family due to long hours of work.
Employees feeling underappreciated- the organization not reminding the employees their contributions are a value to the organization.
Workload- due to the heavy workload employees tend to resign
Job offers- due to the better job offers employees tend to leave their job
Strict rules and regulations- If the employee is late for work their salary will be deducted and if the employee get absent for the work for three days they will be dismissed.
Illness- due to the illness that makes the job impossible for the employee to do the job
To go to abroad for a better education dues to not getting opportunities for further education in Bank of Maldives.
Dismissal simply means termination of employment by the employer. There must be a good reason for a dismissal and the dismissal must be carries out fairly otherwise the employee may have a personal grievance claim against the employee.
Can be dismissed for gross misconduct without the employer going through the normal disciplinary procedures. This can happen if the employee is violent towards a colleague, to a customer or to the property of the organization.
Illness- can be dismissed if the employee have an illness that can make the job to be impossible to do.
If an employee is dismissed he/she has the right to ask the employer for a written statement of the reasons for dismissal. This requests can be made up to 60 days after they find out about the dismissal. The employer must provide the written statement within 14 days of such a request. If not the employee may consequently be able to raise a grievance after the required 90 day limitation period.
A substantial reason- you may be dismissed fairly if you are sent to prison
LO 4.2 Employment Exit procedures for Resignation
This procedure is a guide for Bank of Maldives staff in managing the cessation of a staff member's employment with the organization. The employee exit procedure is followed to ensure both bank of Maldives and the employee understand the reason for discontinuing the employment, that no security breaches occur and to gain valuable feedback from the departing employee.