CPM ranks ComBank in Top Ten for ‘Best Management Practices’in COVID hit 2020-21
The Institute of Chartered Professional Managers of Sri Lanka (CPM) has ranked the Commercial Bank of Ceylon among the ten best managed companies in Sri Lanka in the two years affected by the global pandemic.
Sri Lanka’s benchmark private bank was recently presented one of the prestigious ‘Top Ten’awardsat CPM’s ‘Best Management Practices Company Awards 2022’ themed‘ Back to Business in the New Normal.’
The institutecalled for applications from corporates in Sri Lanka inviting them to showcase their best management practices which demonstrate resilience in bringing their respective organisations back to business during 2020 or 2021.CPM required applicants to present a desk review of the synopsis of the novel and value- adding best practices during these years, followed by a presentation to a panel of judges. Both were considered when selecting the Top Ten companies.
The synopsis Commercial Bank submitted outlined the stand of the Bank before the pandemic- necessitated management practices were implemented, the innovative practices that were executed thereafter, their contribution towards revitalising the business, andthe measurable outputs and outcomes among others aspects.
Some of the best HR practices the Bank listed in its submission included adapting alternative work arrangements and providing food, lodging and transport for all mission-critical staff throughout the lockdowns to ensure continued banking operations; assembling alternative operational sites equipped with infrastructure facilities and IT systems with the support of the Bank’s IT, Logistics, and Premises and Business Continuity Management units; and communicating with employees via an automated call-tree system.