Karachi January 21 2022: Habib Bank Limited announce a Flexible Reward Structure for their employees where they have the option to choose and define their own benefits as per their needs.
HBL is the first Bank to promote flexibility in the benefit & reward structure, based on employee’s feedback and suggestions.
The redesign of the reward structure for Technology in 2021 was the first step in this endeavor. As HBL continue to drive flexibility in their benefits and rewards offerings, Bank will launch other plans during this year, as well as in years to come.
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To promote employee’s well-being whilst providing flexibility to the employees to choose how, where and when they work, the Flexible Work Arrangement Policy is formally being launched. HBL work cultures have adapted to this new norm of working remotely and employees would now be given option to select the way they want to work. Employees would have an option to select the mode of flexible work arrangement where their role allows it. This includes remote working, part time and flexible timing options.
Employees would now have an option to purchase additional leaves (upto 10 working days) for recreation or any personal requirement over and above their normal leave entitlement. To further improve the social security retirement benefit for staff, the existing Provident Fund contribution by the Bank is being enhanced by 1%. Employees’ contributions will also be increased to match that of the Bank.
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To secure a better future for employees and their families and encourage a habit of savings, employees would now have an option to invest in different saving options. The first offering under this for employees is to invest with HBL Asset Management with No front end or back end fees. Employees will be assisted by HBL HR to open an investment account with an option to invest either through monthly payments or regular lump sum payments. Employees would not only earn a return on the investments but also be eligible for income tax credits. Details on other saving schemes will be announced shortly.
