Evaluation on the Effectiveness of the Support Program of Bangko Sentral ng Pilipinas on Career Development

Abstract

The purpose of this study is to examine how the support of Banko Sentral ng Pilipinas translates to the career development of its employees wherein career development, in this study, refers to the actual career movement. Data on the career development support of BSP was gathered through review of documentary sources and interview with two HRD practitioners. Their perception on the career development in BSP, various career development initiatives and roles of HRD practitioners and managers to the career development of its employees were investigated. BSP support comprises creation of specialized groups that addresses the development needs of its employees and the recognition of the important roles of the HRD practitioners and managers as career development agents and counselors. Survey questionnaires, one for managers and another for employees, were also administered. Convenience sampling was used and the sample consisted of 81 respondents, 70 employees and 11 managers, from different departments of the Monetary Stability Sector of BSP. The study proves that the support of BSP, along with its HRD practitioners and managers, translate to the career development of the respondents. Findings show that the respondents have positive perception towards their careers and the various development initiatives employed by the bank, and they are aware and responsive of such. Career information via intranet and in-house trainings/seminars prove to be most useful in their career development. As for their career development, good majority of the respondents experience career development wherein on the average they experience a number of 2.18 career developments and majority of these are vertical which is through promotions. More than half the respondents believes that the rate is neither fast nor slow, it is just right. But a ratio also thinks it is fast, both in congruence with the perception of the two HRD practitioners. Objective assessment for promotion and improved communication and implementation of the various career development initiatives were suggested by the respondents.