Case Study - The strategies implemented by the National Savings Bank to enhance the psychological well-being of its employees.

 

    National Savings Bank, a prominent state-owned Savings Bank in Sri Lanka, was established in 1972 under the Banking Act No. 30 of 1988. With a network of 262 branches across the country, the bank has adopted effective strategies aimed at promoting the psychological well-being of its workforce. Recognizing that physical health alone does not encompass overall well-being, the management of NSB acknowledges the necessity of supporting mental health as well. To this end, they have implemented the following strategies to help employees maintain a healthy balance between their professional and personal lives. The management of NSB is dedicated to fostering an environment that maximizes employee potential, with a focus on:

• Work-life balance.
• Employee grievance mechanisms.
• Health and safety.
• Zero tolerance to workplace harassment.

Work-Life Balance – NSB recognizes the significance of personal life alongside professional commitments. To promote a healthy work-life balance, the following initiatives have been implemented:

• Annual events such as Colours Night, Vesak Bhakthi Geetha, Christmas Carols, Sports Day, and New Year Celebrations are organized to foster family participation.
• An in-house Medical Centre, operated by a hospital accredited by the Bank's Board, provides access to specialized medical services at the head office.
• The welfare division arranges seminars and lectures led by qualified professionals on topics including stress management.
• The Head Office Canteen offers high-quality meals at subsidized prices.
• An in-house gym, maintained by the NSB Sports Club, is available on the Bank's head office premises. 
• The NSB Arts Circle organizes recreational activities, including dramas, films, and musical performances.

Employee Grievance Mechanisms – NSB has two strategies to address grievances, aiming to identify and rectify unacceptable practices at an early stage.

    1. Step Ladder System

 

    2. Open Door Policy

   


 

    In 2022, a grievance handling committee was established specifically to address the concerns of female employees, with the aim of safeguarding their mental and physical well-being and ensuring their safety. This committee is composed of female officers and the Deputy General Manager of the HR Division, who serves as the chairperson. Any complaints related to discrimination or harassment experienced by female staff members can be submitted to the chairperson for review.

Health and Safety – The Bank's HR Policy manual clearly outlines the protocols to ensure the health and safety of employees in relation to occupational safety and health (OSH). As a result of implementing this policy, there were no significant accidents recorded in 2023, with only seven minor incidents reported on the bank's premises.

 

Zero tolerance to workplace harassment – The bank maintains a strict zero-tolerance policy regarding any form of workplace harassment, viewing it as a violation of the fundamental human rights of employees and their personal dignity, which can lead to significant mental health challenges. Consequently, the bank has established strict policies and procedures aimed at preventing such occurrences.

Employees are expressly forbidden from harassing any stakeholders associated with the bank, including customers, vendors, fellow employees, or visitors. Any employee who engages in harassment or solicits favors, including sexual favors, from an unwilling subordinate in exchange for promotions, salary increases, transfers, or similar benefits will be subject to the bank's disciplinary code. Should an employee believe they are experiencing harassment or discrimination, the bank has a well-defined procedure in place to address the matter.

Reference: Annual Reports, National Savings Bank