Our business needs are diverse, and a comprehensive skills profile among our staff is needed to cater to these needs. While satisfying these needs, our staff have the opportunity to develop and grow themselves. We endeavour to build a culture that fosters customer service and facilitates digital enablement. The Bank manages its talent pool so that people are placed in the correct positions to use their talents best and ensure their career growth. We also have procedures to ensure that each role is remunerated commensurately to its contribution.

We believe that together, we can grow. Our employees have the privilege and the opportunity to join hands with our customers in making dreams come true and realising aspirations.

Our customers come to us with financial needs, wants, dreams, and aspirations. We can provide innovative and responsible financial solutions to develop individuals and businesses sustainably. For this purpose, every employee in the Bank is committed to delivering. As we fulfil this purpose, we allow our staff to develop and grow. We value the diversity and unique skill set that each employee brings to the organisation, and we are committed to enhancing those capabilities whilst embracing the values and persona of DFCC.

Employees can grow their capabilities through formal training and development programmes, cross-functional projects, job rotations, and other informal experiences. Our focus on health and wellness programmes, as well as social events, ensures that we create a balanced working environment that facilitates our employees to keep growing, both professionally and personally.

HR Strategy

Customer Centricity and Digital Enablement are two key focus areas for the Bank. Our HR Strategy is designed around creating a sustainable culture that fosters a service mindset and facilitates digital enablement while ensuring optimum productivity and employee engagement. We believe that by focusing on these key elements, we will achieve the following outcomes:

  • Be amongst the top 5 banks in terms of Profit per employee/Revenue per employee.
  • Maintain top talent attrition below 8% in the next 2 years and 5% thereafter.
  • Maintain an employee engagement score above the industry average by 2025.

Structure and Organisation

At a granular level, the HR Strategy is achieved through the development of a Human Capital Architecture based on 6 key pillars:

1. Organisation Structure and Design

A streamlined organisation design ensures optimum efficiency by creating workforce structures that enhance process efficiency and employee productivity. This directly correlates to increasing the revenue and profit per employee indicators. A significant step taken this year in this context is forming an Organisation Design and Workforce Planning function. This unit undertook the Branch Operating model review in collaboration with stakeholders related to the branch banking business to enhance customer centricity. Complementing this initiative, workforce planning undertook an in-depth analysis of types of transactions, number of transactions, customer interactions, etc., and scientifically ascertained the number of staff required at a particular branch unit to ensure that the correct number of staff is available in the right roles.

In addition, the Lean Management function spearheaded the revamping of core processes to enhance the customer experience. To facilitate this, the organisation structures of key customer support units were reviewed and revamped.


2. Talent Management

Talent Management ensures that people are placed in the correct function and at the right level to ensure that the productivity we receive is commensurate with the remuneration we pay.

The evaluation of jobs to ensure that each role is placed at the right level and compensated in line with the value it delivers continued throughout the year, with 30 jobs evaluated during the year. Complimenting this, a detailed market study was carried out with the support of external consultants to assess the standing of the Bank in terms of Total Rewards. As an outcome, a market adjustment was made for selected grades (as the 1st phase) to ensure that employees are compensated well for value delivered. Employees’ aspirations differ; therefore, rather than managing their careers, a process has been implemented to facilitate employees to manage their careers themselves.

The Expression of Interest (EOI) process advertises each vacancy internally, allowing employees to apply for roles at parallel and higher levels. They will then go through a selection process, and the right candidate is allowed to move to the role of their choosing. This gives each employee the power to manage their own career, facilitating job enrichment based on individual aspirations. 232 EOIs were issued during the year. Furthermore, complementing this process, to effectively manage risk and provide job variety to employees, 500 transfers were implemented.

3. Talent Development

Developing people to optimise their potential remains a high priority in the Talent Development agenda. In this context, 90,678 learning hours have been delivered to 24,795 participants. A new initiative in the sphere of Talent Development is the launch of role-based training. The majority of the workforce is in the Branch network. Hence, role-based training was initially introduced to the branch network. Under this initiative, the training and certifications required to perform optimally in a specified role were identified and mapped to each unique role. Based on this, the key certifications were developed and rolled out in the initial phase. Technical and soft skills training are also being delivered to ensure the unique role holder is “role-ready”. Leadership Development also forms a key component of the Talent Development strategy.

The leadership development initiatives were reviewed and revamped, with three new initiatives scheduled to be launched in the first quater of 2024. The groundwork and selection process was completed, considering the revisions to the succession plan.

4. Policies and Processes

An annual review was carried out on all HR Policies and Processes, ensuring that the policies implemented align and support the business objective, meet regulatory requirements and enhance value to employees. Based on the implementation of the HR Roadmap, periodic review of policies continues to take place, as and when required.

5. Engagement and Wellness

Prioritising physical and mental health has been consistently recognised as a catalyst for improved productivity. Accordingly, the Bank has dedicated efforts towards fostering a culture of health and wellness throughout the year. Continuing its commitment, the Bank sustained various health and wellness initiatives, including monthly cycling, walking, and exercise programmes.

To enrich these offerings, new additions to the calendar included a 4km walking session and a “Bike and Bond’’ distance bicycle excursion. Moreover, yoga sessions and rhythmic dancing lessons for beginners, initiated in 2022, were carried forward into the 1st quarter of 2023. Notably, the second quarter saw the introduction of social dancing sessions, allowing staff to learn styles such as the Jive, Ballroom Merengue, and Bachata.

Furthermore, organised hikes to scenic destinations such as Yakdessagala, Narangala, and Kanneliya witnessed enthusiastic participation, with over 30 staff members joining each excursion. These initiatives have been instrumental in promoting health and wellness while fostering camaraderie among employees.

Complementing these efforts, the Bank’s social calendar remained vibrant under the guidance of the Welfare Committee. Events such as the Avurudu Pola, Sports Day, Annual Trip, and Day Outing at Pearl Bay were organised to provide relaxation and social interaction opportunities. Additionally, as sub-activities, the Welfare Committee collaborated with merchants to offer discounts and freebies, further enhancing the overall employee experience.

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6. HR Enablers

To facilitate the above, key HR processes were reviewed and revamped. The above initiatives, working in unison, ensure that the Bank builds an engaged workforce, focuses on continuous development and delivers optimum value through a structure that enables efficient and effective delivery of customer solutions.

Guidance from the Leadership

The HR function has multi-faced responsibilities. It is responsible for championing the Bank’s vision, representing and being the voice of the people/employees, ensuring that stakeholder value is enhanced and being true to the HR Profession. In formulating HR strategies and developing a roadmap, the HR function is mindful of these four responsibilities. The roadmap is validated and approved by the Board Human Resources and Remuneration Committee, of which the Chairman is a member and the CEO is an invitee. Furthermore, if there are any changes to a key policy, it is presented to this Board Subcommittee for recommendation and submitted to the Board for approval. All important initiatives are executed in consultation with the Board Human Resources and Remuneration Committee.

Staff Attrition

The challenging economic environment has had a direct impact on the real incomes of the employees. This has been a significant contributing factor to the high level of attrition, with notably high numbers of staff migrating. Nevertheless, while good people leave, the better and more resilient will remain, working towards the light at the end of the tunnel. The challenges have also brought employees together due to the need to perform with extra rigour, ensuring higher collaboration across the organisation.

Transparency and Anti-corruption

The Bank has a rigid code with no tolerance for bribery and corruption. The Anti-bribery and Corruption (ABC) policy is a public document published on the Bank’s website. It is also available on the corporate intranet for staff to easily reference. It is reviewed annually by the HR Subcommittee that recommends the Policy and, thereafter, approved by the Board. This highlights the fact that the Policy is authorised at the highest levels.

The Policy is binding on all employees, Members of the Board, and those authorised to act on behalf of the Bank. Authorised persons include parties such as agents and any other representatives. In any agreements we sign with such parties, the non-disclosure sections of such contracts would also have safeguards against corruption. As a policy, no direct or indirect contributions to any political party are made by DFCC Bank.

A training programme on Anti-corruption was conducted for all Directors in November 2023, and significant training on this subject has been provided to department heads and unit heads. The Bank also has laid down policies on gifts, hospitality, and expenses, which are part and parcel of the ABC Policy. This lays down the proper code of conduct when an employee receives a gift and the acceptable limits in terms of value. It will also recommend the course of action when the limits are exceeded. The Policy also prohibits receiving facilitation payment for providing routine services.


The Bank also has a whistleblowing mechanism where an employee can report suspected cases of corruption. There is also an Independent Director, the channel of contact for whistleblowing. This reporting may be done anonymously if the employee wishes so. Any employee may use this channel without fear of reprisals. Even if the allegation or suspicion turns out to be unfounded, if it was made in good faith, there will be no adverse consequences for the employee. The employee will also be informed confidentially of the outcome; depending on the circumstances, he may be informed of why it was found to be incorrect. We also have other mechanisms, such as open days with the Chairman and the CEO, where employees can raise their concerns.

Additionally, the CEO Hangout, held quarterly, is an opportunity for staff members at different levels to discuss directly with the CEO. There is also another initiative, the listening wall, where employees can post any comments anonymously or openly. Regarding any contributions of a political nature, the Bank has a policy that this should be disclosed and reported separately. There were no contributions of a political nature made during the year.

Diversity, Equity and Inclusion

DFCC Bank is committed to fostering an inclusive environment where difference is encouraged and all stakeholders are treated equitably. It has been further reinforced by the inclusion of DEI as a core value of the Bank since 2022, with the introduction of DEI Policy. This demonstrates our social responsibility and contribution to a more innovative, productive, and resilient workplace culture.

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We have created a space for people with different abilities by broad-basing the employment opportunities available. As a part of the implementation, working groups have been established to drive goals in the upcoming year.

In April 2023, the Bank partnered with Enable Lanka Foundation to conduct an accessibility audit for the Head Office building and the Ramanayake Mawatha building to assess the accessibility and shortcomings that may hinder the mobility of Persons With Disabilities (PWDs). After prioritizing the identified issues, we expect to develop a remediation plan to address them.

Performance Appraisal

All permanent employees go through an annual performance appraisal process. The bonus and increments are based on the outcome of performance.

Gender and Non-discrimination

Any form of discrimination based on gender is also explicitly prohibited by the Secure Environment Policy and the Diversity, Equity, and Inclusion Policy. All recruitments and promotions are essentially gender-neutral.

Procedures for Operation Change

When there is a change in an employee’s responsibilities, and this involves a change in work location, the Bank usually gives the employee a reasonable period of notice. This will generally be at least two weeks and up to a month, where possible. However, exceptions sometimes have to be made where there is an urgent requirement, for instance, at another branch. Here, too, attempts are made to minimise the hardship to the employee by selecting someone from the closest branch.

When an employee needs to travel to another location for work above a specified kilometre range, a special allowance to meet this travelling expense is offered. This applies to moves due to an emergency and to regular transfers. For selected roles, a rent reimbursement is also provided.

Employees on Contract

The Bank employs a certain number of staff who are not permanent employees but on fixed-term contracts. These employees are not entitled to certain facilities that the average staff are entitled to, such as loan schemes.

As at the end of the year, the services of 30 employees at the Contact Centre and eight employees at the PFS department were outsourced.

Benefits provided to full time employees which are not provided to contract, temporary or part time employees

Company Employment
Exam* Professional
Social Club
staff loan
DFCC Permanent

* Executive trainees and management trainees on fixed term contracts and staff on contract above one year will also be provided

** Only for non-executive staff

*** Based on the offer of employment, may also be provided to contract staff

Career Endings

Employees are given certain special benefits at the end of their careers with the Bank(retirement). They are entitled to a one-time reimbursement of certain expenses by the Bank as a token of appreciation for long service.

Certain employees who joined the Bank before 1 May 2004 are entitled to pensions as there was a pension scheme operating across Banks. During the financial crisis, special consideration was given to our pensioners receiving a pension below a certain amount. They were paid a special hardship allowance, which is still being continued.

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Organisational Knowledge and Handover Procedures

The Bank has a cherished repository of knowledge among its employees, which should be nurtured and passed on. There is a formal handover process when a staff retires or is even transferred to another branch. Completing a handover document is a mandatory process, even on retirement. This ensures that knowledge transfer from a person to his successor is effectively carried out.

Occupational Health and Safety (OHS)

The Bank holds a paramount commitment to the health and safety of its employees, underpinned by a comprehensive Occupational Health and Safety (OHS) policy. To facilitate ongoing learning and awareness, an e-learning module is accessible via the corporate intranet, encouraging regular engagement from employees. Information on healthy diets and lifestyles is also disseminated to promote overall well-being.

Moreover, the Bank has implemented various amenities to minimise workplace health risks. The option for remote work and flexible hours remains available as deemed necessary. DFCC acknowledges its duty to uphold health and safety standards across all properties, ensuring a safe and secure environment throughout its assets.

To uphold these standards, effective safety systems, standards, and practices are consistently applied across the Group, tailored to comply with local legislation. Our overarching objective is to provide and sustain a safe and healthy environment for all stakeholders, including staff, business partners, visitors, and others.

Throughout the year, no significant non-compliance with health and safety guidelines was reported, underscoring our steadfast commitment to maintaining high health and safety standards across all operations.

Training and Development

A total of 90,698 learning hours have been delivered covering 24,795 participants. Details pertaining to the training delivered during the year is as follows:

Training hours by type

Number of programmes Training hours
Online training 127 17,309
Onsite training 199 25,453
E-learning 64 47,936
Total 90,698

Total number of staff attended for training programmes by staff category and gender

Male Female Total number
of participants
Management 373 151 524
Executive 4,802 3,062 7,864
Supervisory staff 3,429 3,027 6,456
Junior staff 4,896 5,055 9,951
Total 13,500 11,295 24,795

Note: The above number of participants is a cumulative figure, it consists of the same employee attending multiple training programmes.

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Average Training

Total Male Female
Total number of non-executives in the Bank 1,439 728 711
Total number of programmes non-executives attended 18,059 9,074 8,985
Average programme per non-executive 12.46 12.64
Total number of executives in the Bank 670 429 241
Total number of programmes executives attended 6,736 4,426 2,310
Average programme per executive 10.32 9.59

Gender Analysis

Total number of female employees 952
Total number of programmes females attended 11,357
Average programmes per female employee 11.93

We also have programmes that are conducted specially for the members of the Board. A special programme on IT security was conducted in October 2023, and one on bribery and corruption was conducted in November 2023 for the Board of Directors.

Employment Profile

Workforce by employment type/province

Age Group Permanent Contract Total number of employees
Male Female Total Male Female Total Male Female Total
Central 57 41 98 10 9 19 67 50 117
East 36 15 51 12 5 17 48 20 68
North 28 16 44 6 4 10 34 20 54
North Central 37 21 58 9 3 12 46 24 70
North Western 46 40 86 3 10 13 49 50 99
Sabaragamuwa 48 30 78 8 11 19 56 41 97
South 84 57 141 13 20 33 97 77 174
Uva 44 20 64 11 6 17 55 26 81
Western 580 474 1,054 125 170 295 705 644 1,349
Total 960 714 1,674 197 238 435 1,157 952 2,109

Note: No temporary/non-guaranteed/part time employees in employment

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New Employees

New employees joining in the current Financial Year
Grade Age Group Gender
Less than
30 years
30-50 years
50 years
Total Male Female Total
Management 9 1 10 8 2 10
Executive 6 106 6 118 70 48 118
Supervisory staff 38 38 2 78 47 31 78
Junior staff 436 22 1 459 202 257 459
Total 480 175 10 665 327 338 665

Note: Staff re-joining after retirement have been excluded


* In the permanent cadre, excluding terminations/retirements/contract expiries/involuntary resignations

Employees by Seniority and Gender

Male Female Total Male % Female %
Below 1 year 264 273 537 22.8 28.7
1-5 322 226 548 27.8 23.7
5-10 283 145 428 24.5 15.2
10-15 168 170 338 14.5 17.9
15-20 75 99 174 6.5 10.4
Above 20 45 39 84 3.9 4.1
Total 1,157 952 2,109 100.0 100.0
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Male:Female Salary Ratio by Employee Category

Grade Number of employees Basic salary ratio,
Male Female Total
Management 83 30 113 52:48
Executive 346 211 557 51:49
Supervisory staff 279 278 557 50:50
Junior staff 449 433 882 52:48
Total 1157 952 2109 51:49

Retention of New Hires

Retention 2023
Total New
Number of
Retained Retention
Management 10 0 10 100
Executive 118 10 108 92
Supervisory staff 78 4 74 95
Junior staff 459 70 389 85
Total 665 84 581 87

Note: Excludes contract expiries, terminations and involuntary resignations

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Parental Leave

Return to work after parental leave

Indicator Male Female Total
Number of employees entitled to parental leave during previous
reporting period (2022)
n/a 851 851
Number of employees who took parental leave and due to return during 2023 n/a 50 50
Number of employees who returned to work after parental leave during 2023 n/a 49 49
Employees who returned to work out of those due to return during 2023 n/a 98% 98%
Number of employees due to return to work after parental leave during 2022 n/a 43 43
Number of employees who returned to work after parental leave during 2022 n/a 41 41
Employees who returned to work out of those due to return during 2022 n/a 95% 95%
Number of employees who returned to work after parental leave during 2022,
who were still employed 12 months after return to work
n/a 30 30
Retention rate n/a 70% 70%

Culture and Values

Two new values were introduced to the Bank’s core value framework: stewardship and diversity, equity, and inclusiveness (DEI). Multiple programmes were conducted to orient the staff on these new values, and implementation is closely reviewed at the highest level. The values of the Bank are discussed in the orientation programme, focusing on how they need to be practically implemented.

Looking Ahead

The business environment is volatile, and an agile approach is required to navigate it. The roadmaps and plans developed have multiple review points and are implemented in sprints to maintain the flexibility needed to react fast and change course when required.