Professional Documents
Culture Documents
2011©
CBI in a snapshot
After the Islamic Revolution of Iran laws and regulations pertaining to money
and banking institutions and monetary policy design and implementation were
amended to reflect the priorities and principles as set out in the Constitution of
the Islamic Republic of Iran. At present, CBI is responsible for the design and
conduct of monetary policy within the context of government's five year
development plan and annual budget. These crucial responsibilities make a
strategic approach within CIB. However, this paper tries to investigate HRD
which needs to be considered to enhance these responsibilities.
Methodology
In the context of this quantitative research, secondary data and Interview are
chosen to collect information. In detail, after gathering some focused imperial
literatures as well as preparing A pre-tested questionnaire including 16 pre-
designed questions will be used to explore and investigate through its 3 main
management levels.(more info: http://www.scribe.com)
Organizational Structure
Invariably, human resource management (HRM) issues have been major concern
for managers at all levels, because they all meet their goals through the efforts of
others, which require the effective and efficient management of people (Dessler et
al., 2000).
The central Bank of Iran (CBI) as a bureaucratic firm with 6 Vice Governors,33
General Directors, 55 Directors, and approximately 3500 employees, structurally
requests for a unique HRD format to effectively respond to the mass.
Figure 1 shows HRD in CBI:
Vice Governor
Constrction
wealth director Traing Director
irector
Head of library
3. Employee relation
CBI designs its relation with people according to “Labor Act” which is passed in
1954(katozian,2008) and level of employee.
-operation level: minimum vertical communication, maximum horizontal
communication, inter-dep relation, high-bureaucratic.
-Top level: participating in strategic decision making, more subjective than
objective, and less-bureaucratic.
-Middle level: fluctuated within this “less-high” domain.
To decrease this fatal gap between these levels,CBI has installed an Intranet to
improve communication.
4. Appraisal
In order to assess operational-level employees, “periodical assessment” will be
used by HRD. In this way, ask from any direct manager to fill up a pre-designed
questionnaire which will effect on job description, training programs, and
compensation.
-The result of training exams are effective in final score which leads to obtained
total advantages.
Middle-level and top-level employees are evaluated by their organizational
performance and the productivity of related Deps through organizational strategies
and goals as well.
5. Compensation & Reward
In terms of evaluation
In terms of Reward
-CBI shouldn’t rely on financial forms of rewards, and must launch more
organizational rewards.
-CBI must design its compensation based on recognized Behavior theories.
-financial leverages misconceptions must be tried to be vanished.(Mello,2006)
Conclusion
I my point of view, although HRD of CBI is so interactive, it needs to be
characterized as a strategic and effective unit which is managing, organizing, and
developing Human capital toward making a sustainable competitive advantages
named “Human assets”. In order that the accumulation of multi-purposed activities
and internal policies must be periodically identified, practiced and evaluated
throughout an “Investment perspective”. In general speaking, whether organization
culture trends to a strategic recognition of HRM, many HR activities, such as
appraisal, selection, reward, and development, will diverge to prepare a unique,
committed human resource with adequate, accurate, and unduplicated skills.