Maybank Case Study

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Without a good management approach, the company will not be able to perform well in this competitive era. Maybank understands this concept really well and they have found a balance between both management as a science and management as an art together. Management can be classified either as a science or as an art.

Management as a science focuses on specific best practices for management. Classical management is known as the oldest form of management and it focuses on making an organization more efficient. Maybank is using administrative management which is one of the classical management to manage the whole organization rather than individual employees. Henri Fayol was the frontier in administrative management and it contains 14 principles
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It is said so because women employees have also been given equal chance on professional and personal development, and promotion. According to 2015 Maybank annual report, in 2014, women in the workforce at Maybank stood at 58% and their representation in senior management positions and critical positions have increased as compared to 2013. Esprit de corps is also practiced by Maybank and communication is a vital part of Esprit de corps in lifting up the team spirit. So, Maybank has held sessions like Teh Tarik with President and CeO, Townhalls, Ask Senior Management (ASM) and Maybank Group and Employee Engagement (MGEE) session to allow a two-way communication between top management and all levels of employees. Besides, Maybank also like employees to be initiative. In the Talent Management report, Maybank advocates staffs to be more creative and be brave in generating ideas. Remuneration of personnel will be given in either monetary and non-monetary according to Maybank’s performance based rewards strategy if the individual has achieved excellent performance. Instead of emphasizing on general interest, Maybank also underlines the individual interest via some surveys which include Value Chats (V-Chats) and Honest, Open and Trusting (H.O.T) that grant the workers to give feedbacks in order to improve the organization. Furthermore, unity of command is shown by the top management of Maybanks as refer to…show more content…
It includes 5 levels of needs which are physiological, safety, social, Esteem, and self actualization in order. Nora Abd Manaf, Group Chief Human Capital Officer of Maybank Group, said that Maybank has provided an inclusive and equitable working environment for their employees. A research on the effects of the physical work environment on physiological measures of stress done by J.F.Thayer et al. 2010 had came to the conclusion that two aspects of the physiological stress response can be influenced by the physical features of the work environment. This shows that Maybank has fulfilled the first level of the theory which is physiological needs of their employees. Besides, Maybank has also satisfied the safety needs of the workers by having a Maybank Group Staff Welfare Fund or Tabung Kebajikan Kakitangan Kumpulan Maybank (TKKKM). This fund is able to provide financial aids that covers sickness, accident, and property damage due by natural disasters to the workers and their family members. According to 2015 Maybank Annual Report, 593 staff in Maybank Malaysia received assistance totalling over RM898,773 from TKKKM in 2014,. Furthermore, Maybank has also achieved workers’ social needs by approving the environment of flexible work arrangements, 90 days maternity leave, paternity leave, and emergency leave during peak seasons. They even have a Tiger Cubs Childcare Centre (MT3C)
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