151 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Cleaning process and tidiness Sanitised the premises always by using the required chemicals. Ensured the building’s cleanliness, at all times. Fixed motion sensor lights for cafeteria entrance and back door. Service Level Agreements Serviced all the equipment, on time. Signed all the service agreement, on time. Implementing renewable energy applications The process commenced to install a Solar System to fulfil a quarter of electricity bills, at minimum. Removed the old outdoor rooftop AC to install solar panels. Generals Fixed a net for STP. Conducted Pest control activities. Supported all hall hires, classes, meetings and exams. Structural and behavioural modifications applied to prevent any viral infection The Standing Committee on Infrastructure Development, Premises & Facilities Management and Quality Assurance Division has taken many precautionary steps to mitigate possible risks and detrimental circumstances of COVID-19 Pandemic and any possible viral risks. Some of THE steps regulated were: Implementation of sanitiser bottles at the premises Installed paddle tap with foot sanitiser Disinfection and sanitizing the entire space of the CIPM main building and surroundings, daily. Projects to be completed 1. Solar Project for CIPM Head office 2. Implementation of an organised, clean cafeteria within CIPM premises. 3. Modification of the Boardroom 4. Modification of the workshop room 5. Implementation of dedicated examination hall at CIPM Gampaha. The Finance and Administration Committee played a significant role in achieving all these results. The Committee convened monthly meetings without defaulting on even a single meeting and made very crucial and important decisions to drive better outcomes for the Institute.
152 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 STANDING COMMITTEE ON SUSTAINABILITY, DIVERSITY AND INCLUSIVITY The Overview of the Committee was to create a sustainable future for CIPM and its stakeholders, partners and HR professionals as well as ensure diversity and inclusivity among all stakeholders. Committee Members Air Cdre. Manoaj Keppetipola Chairman Mr. Chandima Premachandra Deputy Chairman Ms. Rajee Ravichandran Deputy Chairperson Mr. Shanaka Fernando Committee Member Mr. Jeevan M. Premasara Committee Member Ms. R. A. S. Nadeeshani Rathnaweera Committee Member Mr. K. A. C. Dias Committee Member Ms. D. J. Indrajit Committee Member Ms. M. L. Imali A. Jayawardene Committee Member Ms. P. A. P. Nadeeshani Panditharathna Committee Member Ms. P. D. T. N. Yasaratna Committee Member Mr. Samiddha Rathnayake Committee Member Staff Representatives Himali Dasanayake Ruwani Senavirathna Laihiru Bandara Keshani Perera Vidya Ekanayake Staff Coordinators Lahiru Bandara Keshani Perera Objectives 1) Creating a comprehensive manual as a guideline for adapting a culture that accepts diversity, inclusivity and LGBTQ 2) Making CIPM the model organization for sustainability 3) Creating awareness about sustainability among HR professionals and other professions. Committee report To achieve the above-mentioned objectives, the committee was allocated key action areas, such as carrying out the energy audit for CIPM, conducting a statistical analysis on energy consumption in order to suggest energy saving solutions for the Head office and regional centres, solar power project for CIPM head office, conduct a Sustainability competition for CIPM Student and Members. Accordingly, the committee arranged three competitions, namely: 1) Most innovative energy server (for members) 2) Green Gardening Competition (For Students and Members) 3) Introducing an urban Green garden project for CIPM staff All three competitions were successful, and many members, students and staff members participated in the competitions. All the objectives assigned to the committee were updated in the new dashboard on the CIPM web. Accordingly, the committee was able to achieve >80% success. Developing Policy Manual for Sustainability, Diversity, Equity and Inclusivity In accordance with the strategic plan for the years 2022- 2025, the Sustainability, Diversity, and Inclusivity Committee has embarked on a journey to foster a culture that embraces diversity, inclusivity, and LGBTQ rights. As part of this initiative, the committee has undertaken and already assigned consultants for the development of two distinct policy manuals: Developing Policy Manual on Diversity, Equity, and Inclusion: The committee recognizes the importance of creating an inclusive and equitable environment that values diversity in all its forms. This policy manual will serve as a comprehensive guideline for promoting diversity, equity, and inclusion within the organization. It will outline strategies, best practices, and actionable steps to cultivate a workplace culture that respects and appreciates individual differences, fosters equal opportunities, and ensures fair treatment for all members, regardless of their backgrounds, identities, or abilities. The manual will address recruitment and hiring practices, professional development opportunities, antidiscrimination policies, and procedures for addressing grievances related to diversity and inclusion.
153 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Developing Policy Manual for Sustainability: Aligned with the organization’s commitment to sustainability, the committee aims to develop a policy manual that outlines the principles, objectives, and strategies for promoting sustainable practices within the organization. This manual will provide guidance on incorporating environmentally responsible practices, reducing ecological footprints, and embracing sustainable approaches across various aspects of the organization’s operations. It will cover areas such as waste management, energy efficiency, responsible procurement, green initiatives, and employee engagement in sustainability efforts. The manual will serve as a resource to foster a culture of environmental consciousness and contribute to the organization’s broader sustainability goals. By developing these policy manuals, the committee endeavors to create a framework that supports and guides the organization’s efforts in fostering diversity, equity, inclusion, and sustainability, thus ensuring a progressive and socially responsible work environment. Preview of the Dash Board Report
154 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 STANDING COMMITTEE ON HR PROFESSION AS A LEADING STRATEGIC PARTNER FOR ORGANISATIONAL EXCELLENCE Overview The Standing committee on HR Profession as a leading strategic partner for organisational excellence at CIPM, we have set several key objectives to support this vision. We aim to enhance our understanding of how HR supports the business, particularly in light of the challenges posed by the pandemic. We strive to develop the skills necessary to become effective HR Business Partners, equipped with the expertise to provide valuable internal consulting services. By combining HR and business acumen, we seek to elevate our awareness of the financial drivers that underpin organisational performance. Furthermore, we are dedicated to aligning our HR function with the strategic direction of our business. Committee Members Mr. Priyantha Ranasinghe Ms. Davina Kern Major Anura Pandithage Mr. M. G. T. Dhananjaya Ms. Kalani Collure Dr. Samantha Rathnayake Mr. E. L. Samuel Mr. R. A. U. K. Rajapaksha Group Captain Vajira Senadheera Ms. J. N. Jeevakumaran Mr. A. S. de Alwis Dr. Nalin N.P. Jaysuriya Ms. P. T. Chathurika Gayathri Ranasinghe Ms. V. S. C. Vithanage Dr. Lalith A. P. Wijetunge Dr. Heather Fernando Objectives 1. Conduct HR Awards for corporates and public sector organisations once in two years 2. Design CIPM HR Audit framework/programme 3. Develop an action plan to groom HR professionals to serve at C suite level Committee Report In our pursuit of organisational excellence, we recognise the crucial role of Human Resources (HR) as a strategic partner. HR acts as a bridge between the dedicated work of our HR team and the overarching goals of our organisation, ensuring alignment and driving our mission forward. CIPM understands the competitive forces that demand exceptional performance and believe that HR departments have the potential to make a tangible contribution to any business. By adding value and mitigating risks, HR can establish itself as a unique strategic business partner, fully supporting the goals of our organisation. However, HR teams often operate in isolation, disconnected from senior leadership discussions and decision-making processes. This disconnection creates misalignment and hampers HR’s ability to provide the necessary support for strategic business outcomes. To address this, CIPM strives to foster alignment across teams and departments, recognizing HR’s unique position to facilitate effective team engagement. By working closely with senior leadership as strategic partners, HR can enable and promote high-performance collaboration throughout the organisations. CIPM firmly believes that HR is the binding force that brings employees and organisation together, holding the potential for significant impact. With HR’s critical role in shaping company culture and fostering employee engagement, it can ultimately drive a company’s growth agenda. CIPM is committed to developing HR professionals as strategic partners who can make a real difference for both HR initiatives and overall business success. Through our endeavours, we are confident that CIPM will continue to empower HR professionals, enabling them to contribute significantly to our HR efforts and the overall success of our business.
155 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 CEO’s Forum CIPM Sri Lanka successfully held a CEOs’ Forum on “People First Culture inspired by CEOs” on 23rd March 2023 at the Shangri-La Hotel. The event emerged as a grand success, with 100+ CEOs from multiple industries gracing the occasion. The keynote speaker, Bingumal Thewarathanthri, the CEO of Standard Chartered Bank, Sri Lanka, delivered an inspiring and excellent keynote address focusing on the People First Culture emphasizing the role of HR in Business particularly at a time when Sri Lanka had experienced a pandemic followed by the most recent episodes such as political unrest, economic downturn, high inflation which had far-reaching consequences on the country. The salient aspect of the keynote speaker’s presentation inspired the rest of the panel members who also made strong contributions during interactive discussions with a highly knowledgeable audience of CEOs from multiple organisations. The panel of experts comprised Mr. Bingumal Thewarathanthri, the CEO –of Standard Chartered Bank PLC, Dr Samitha Perera, CEO – of CBL Foods International Pvt Ltd, Ms Shiromal Cooray, Chairperson and Managing Director of Jetwing Travels (Pvt) Ltd, and Mr Chevaan Daniel, Executive Group Director – Capital Maharaja Group. The discussion was moderated by Dr Nalin Jayasuriya – Chairman & Managing Director, Mcquire Rens & Jones (Pvt) Ltd. Board Room Exposure for CQHRM Students In line with our commitment to developing competent C-suite HR professionals, CIPM implemented a significant initiative aimed at granting selected CQHRM students a valuable opportunity for boardroom exposure. The objective of this initiative was to provide these students with a first - hand understanding of strategic decision-making processes and foster their growth as future HR leaders. As part of this initiative, a carefully selected group of outstanding CQHRM students were given the privilege to attend the esteemed Council Meeting. This allowed them to observe and learn from the diverse perspectives shared by esteemed council members, who possess extensive experience and expertise in the field of HR management. Attending the Council Meeting provided the selected CQHRM students with a unique and insightful experience, immersing them in the high-level discussions and decisionmaking processes that shape the direction and policies of our institute. By witnessing the different perspectives presented and deliberated upon during the meeting, the students were exposed to the complexities and nuances of strategic governance in the HR domain. The objective of this initiative was to empower the CQHRM students with practical insights and knowledge that will aid them in their future roles as HR leaders. By gaining exposure to the boardroom environment and the decision-making dynamics within it, these students were equipped with a deeper understanding of the challenges and responsibilities that come with executive HR positions. We firmly believe that offering such valuable learning opportunities to our students enhances their educational journey, facilitates the application of theoretical knowledge in real-world contexts, and prepares them for successful careers as C-suite HR professionals. This initiative aligns with CIPM’s mission of nurturing and developing HR talent that can contribute effectively to organisational success. CIPM is proud to have taken this initiative to grant boardroom exposure to selected CQHRM students, reflecting our commitment to excellence and the continuous development of future HR leaders. We remain dedicated to exploring further avenues to provide transformative learning experiences and opportunities for our students, enabling them to thrive in the ever-evolving HR landscape. This initiative underscores our steadfast commitment to fostering a culture of excellence, knowledge sharing, and professional growth within the HR community. We look forward to witnessing the significant contributions these students will make to the HR profession as they apply the valuable insights gained from their boardroom exposure experience. Other initiatives In line with the main objectives of the committee, we also have started working on designing a HR audit framework which will be introduced in the near future targeting the National HRM awards ceremony to be held in 2024.
156 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 STUDENT GROOMING AND ENGAGEMENT COMMITTEE Overview of the Committee The Student Grooming and Engagement Committee is dedicated to fostering a supportive and efficient learning environment for all students. We focus on several key objectives to enhance communication, resolve grievances, maintain a code of conduct, assess student satisfaction, and organise annual events. We are committed to making students’ experience in learning exceptional, and we strive to create an all-encompassing and conducive learning environment that improves student success and satisfaction. Committee Members Ms. Shiwanthi Wijesuriya - Chairperson Mr. Pulasthi Weerasinghe Mr. Koshitha Shyamal Perera Mr. Harshana Seneviratne Mr. Charith Gallage Ms. Rasika Darshani Mr. Nishantha Dilruksha Staff Representative Mr. Arjuna Ranasinghe Staff Coordinator Ms. Heshyanthi Perera Committee Objectives 1. Encourage the learners to use the Learning Management System and the Help Desk for communication purposes. 2. Minimising students’ grievances/complaints through an effective and efficient process improvement & implementation for all the services/deliveries to students. 3. Ensure that the code of conduct is followed closely by all the students, lecturers, and Invigilators. 4. Carry out student satisfaction surveys. Committee Report The CIPM Cricket Fiesta The CIPM Cricket Fiesta, organized by the Student Grooming and Engagement Committee, was a highly anticipated and memorable event that captivated cricket enthusiasts. Held on March 4th, 2023, at the prestigious Moors Ground in Colombo, the tournament featured 20 teams competing with zeal and camaraderie. The exemplary leadership of Ms. Shiwanthi Wijesuriya as the committee Chairperson and the efficient project management of Mr. Pulasthi Weerasinghe played pivotal roles in the resounding success of the event. The presence of special guest Mr Dasun Shanaka, Captain of the Sri Lanka cricket team, elevated the prestige and excitement of the CIPM Cricket Fiesta. Motivated by his attendance, the teams delivered their best performances, aiming to impress both the spectators and the esteemed chief guest. Team ‘Hit & Run’ emerged as the champions, displaying exceptional sportsmanship and skill throughout the tournament. Their triumph added to the overall excitement, while Team Pepsi secured the runners-up position, showcasing their outstanding capabilities. In addition to the team awards, individual players were recognised for their remarkable achievements in various categories, including Best Bowler (Male/Female), Best Batsman (Male/Female), and Man of the Series (Male/ Female). These accolades celebrated the talent, dedication, and hard work demonstrated by the players, motivating them to continue honing their skills and striving for excellence. The Student Grooming and Engagement Committee take immense pride in organising events like the CIPM Cricket Fiesta. It provided a valuable platform for students to showcase their cricketing abilities, fostering healthy
157 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 competition and camaraderie among participants. The event promoted physical activity and sportsmanship and recognised the outstanding efforts of individual players, highlighting the committee’s commitment to holistic student development and nurturing sporting talent. The CIPM Cricket Fiesta will be remembered as an unforgettable milestone in the journey of promoting sports and nurturing talent within the CIPM community. The hard work and dedication of the Student Grooming and Engagement Committee, along with the enthusiasm and skills demonstrated by the participating teams, made this event a true success. It served as a testament to the power of sports to unite, inspire, and celebrate the spirit of sportsmanship. The CIPM Fun Quiz The CIPM Fun Quiz, organised by the Student Grooming and Engagement Committee, was an outstanding success on 25th February 2023. Guided by the exemplary leadership of Ms Shiwanthi Wijesuriya, the committee chairperson, and the dedicated efforts of Ms Venya Jayasekara, the project manager, the quiz attracted the enthusiastic participation of over 100 students who eagerly took part in the online quiz, conducted through the user-friendly platform, Kahoot. The quiz provided an engaging and inclusive experience for all participants. Utilising the convenience of the Kahoot platform, students accessed the quiz from the comfort of their homes. The quiz’s format comprised multiple-choice questions on a wide range of subjects, including HR, sports, IT, general knowledge, current affairs and business-related topics. This approach not only tested the participants’ knowledge but also encouraged continuous learning and fostered a healthy spirit of competition. The response to the CIPM Fun Quiz was overwhelming and demonstrated the students’ enthusiasm for extracurricular activities that seamlessly blend entertainment and education. Participants showered the event with highly positive feedback, praising the quiz for its enjoyable and challenging nature. They expressed their appreciation for the opportunity to engage with their peers and enhance their knowledge through friendly competition, making the event truly memorable for all involved. At its core, the primary objective of the CIPM Fun Quiz was to provide a platform for talent development. By incorporating a diverse range of questions, the quiz encouraged students to expand their knowledge beyond the confines of their academic curriculum. The quiz not only tested their subjectspecific knowledge but also fostered critical thinking, decision-making, and time management skills. Furthermore, the quiz’s format facilitated the identification of students with exceptional knowledge and quick thinking, which helped effectively highlight their potential for future leadership roles. To acknowledge the outstanding performances of the participants, three winners were selected based on their scores and completion time. These deserving winners were presented with prizes of achievement, which not only celebrated their talent but also served as motivation for them to continue honing their skills. The selection process adhered to pre-established criteria, ensuring fairness, transparency, and equal opportunities for all participants. The overwhelmingly positive feedback received from the participants unequivocally affirmed the resounding success of the CIPM Fun Quiz in achieving its objectives. The Student Grooming and Engagement Committee takes immense pride in organising an event that provided both entertainment and contributed to the holistic development of the students. By creating an enjoyable and enriching experience, the quiz effectively nurtured the talents and potential of the participants, leaving a lasting positive impact on their educational journey. The CIPM Talent Show The Student Engagement and Grooming Committee at the Chartered Institute of Personnel Management (CIPM) organised a remarkable talent show on June 17th, 2023, at the prestigious Nada Auditorium in Colombo 07. Led by the committee chairman, Ms Shiwanthi Wijesuriya, the event was a resounding success, showcasing the immense talent and creativity of the students.
158 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 The talent show was graced by the presence of distinguished individuals who added to the grandeur of the occasion. Mr Ken Vijakumar, President of CIPM Sri Lanka and a prominent figure in the industry, honoured the event as the esteemed Chief Guest, while Dr Rohana Weerasinghe, a renowned musician, held the position of Guest of Honor. Their presence added prestige and encouragement to the aspiring performers. The event was skilfully hosted by the charismatic Mr Sumiran Gunasekara, who captivated the audience with his engaging stage presence and lively interaction. His seamless transitions and energetic appearance ensured a smooth flow of the talent show, keeping the audience thoroughly entertained throughout the evening. A panel of esteemed judges, including Dr. Kishu Gomez, Mr. Channa Jayawardena, and Mr. Peshala Manoj, evaluated the performances and determined the winners. Their expertise and discerning eyes provided valuable feedback and constructive criticism to the talented participants. In the singing competition, Mr Amesh Ranwala emerged as the winner, who mesmerised the audience with his powerful and soulful rendition. Ms Naomi Weerakoon claimed the runner-up position, impressing the judges with her captivating voice and stage presence. The dancing competition set the stage ablaze with extraordinary performances. Ms Bhagya Silva took home the winner’s title, displaying incredible grace, skill, and an impeccable sense of rhythm. Mr Raveen Kumarasiri secured the runner-up position, leaving the audience in awe of his dynamic and energetic dance moves. The talent show provided a platform for students to showcase their artistic abilities, boosting their confidence and nurturing their talents. It was a testament to the commitment of the CIPM Student Engagement and Grooming Committee in providing opportunities for personal growth and development among the student body. The event not only celebrated the exceptional talent within the CIPM community but also provided a memorable evening of entertainment for all attendees. Under the guidance of Ms Shiwanthi Wijesuriya, and with the support of the esteemed Chief Guest, Guest of Honour, event host, and judges, the talent show created an unforgettable experience, inspiring and encouraging the participants to continue pursuing their passions and honing their skills. STUDENT GROOMING AND ENGAGEMENT COMMITTEE
159 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 STANDING COMMITTEE ON ‘DEVELOP GLOBALLY COMPETENT HR PROFESSIONALS Committee Members Mr. Ken Vijayakumar - Chairman Mr. Priyantha Ranasinghe Mr. B. K. E. D. Abeywickrama Mr. R. A. M. P. Jayamadu Mr. T. G. Rukman Kumara Mr. U. L. M. Resha Ms. C. H. Silva Mr. M. W. N. Ferdinando Ms. B. A. S. A. Ferdinandes Mr. Rohitha Amarapala Mr. D. M. Kobbekaduwe Ms. Champika Gurusinghe Mr. B. S. Kotinkaduwa Ms. K. L. UdaPiumie Perera Mr. Sumanadasa Gamage Mr. Venuje Salinda Weerasekara Mr. Senaka Muhandiramge Mr. Dillon Gomez Ms. Radika Lalani Perera Objectives of the ‘Develop Globally Competent HR Professionals’ Review the current assessment structure and design examiner competency framework (ECF) Undertake CQHRM Syllabus & standard study text for every level of CQHRM Programme Global Quality Standards – Conduct an external audit to identify gaps Strengthen the Internship Programme, Develop Competencies and Skills Manual a) Review current assessment structure and design examiner competency framework (ECF) Examiner Competency Framework Designing an Examiner Competency Framework (ECF), implementing it, and ensuring that all the examiners of CIPM undergo the ECF training is set as a prominent strategic objective under Role 4, i.e., ‘Develop Global Competent HR Professional” in the CIPM’s Strategic Plan 2022 – 2025. The assessment procedure significantly impacts the quality of the CQHRM graduates. Therefore, making continuous improvements to assessment is necessary for maintaining the academic quality assurance of the study programs. Further, developing a competent panel of examiners is a responsibility of CIPM as it directly impacts the outcomes of the assessment process. The current LCF focuses on improving teaching (lecturers), while the ECF focuses on enhancing the assessments. Hence, the strategic plan has Identified these two activities as crucial tasks that should be implemented to uplift the quality of the CQHRM program, which is the primary income source of CIPM. All the examiners will be provided training based on the Examiner Competency Framework by a reputed panel of resource persons. The Professional and Academic Affairs Technical Committee developed an Examiner Competency Framework and the syllabus. Action will be taken to train examiners and assessors on this framework after receiving the validated examiner competency framework from the resource person assigned this validation task. b) Undertake CQHRM Syllabus & standard study text for every level of CQHRM Programme This project was temporarily suspended on the instruction given by the council due to financial constraints. However, action will be taken to initiate this project in the next council year. Business School Committee (2022- 2023) Business School Committee is chaired by the President of CIPM Sri Lanka. Objectives Achieve annual 12% revenue targets as planned, manage the costs and monitor progress. Ensure that the targeted student Numbers are enrolled with respective payments. Promoting CQHRM in Bangladesh and continuing the business as an International Study Centre as per the MOU. Establish continuous communication with the CIPM Faculty Establish the Business ‘Customer Relationship Management’ (CRM) system to automate the enrolment process. Business School Expansion Affiliate with a recognised University to commence a Master’s in Business Administration (MBA). Expand the Sales Agent network
160 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Committee Report The committee convenes on a monthly basis to engage in comprehensive discussions regarding the Business School, Marketing Activities, and the key responsibilities outlined in the CIPM New Strategic Plan. One of the primary objectives of this plan is to Develop Globally Competent HR Professionals. During these meetings, the Committee diligently examines the various facets of the Business School, meticulously scrutinizing its operations and practices. This thorough analysis enables the Committee to provide valuable recommendations on how to proceed, thereby shaping a strategic direction that ensures optimal performance. The evaluation process encompasses multiple dimensions, including financial aspects such as income, student registrations, and cost-effectiveness. Additionally, the Committee assesses lecture delivery standards, student feedback and complaints, faculty development initiatives, the efficacy of both offline and online instruction methods, and market trends, among other factors. Through this rigorous and multifaceted evaluation process, the Committee aims to drive continuous improvement and facilitate the attainment of the Business School’s objectives. By offering informed recommendations, the Committee plays a pivotal role in steering the institution toward enhanced performance, thereby maintaining its competitiveness and relevance in the ever-evolving landscape of the HR profession. Study Programmes Business School is proud to offer a diverse range of study programs catering to various segments of the country. Our professional study courses in Human Resource Management are designed to benefit practising HRM personnel across different industries, as well as beginners and school leavers who aspire to embark on their professional journey in HRM. Our comprehensive curriculum covers all the major courses necessary to build a solid foundation in HRM. From entrylevel foundation and certificate courses to advanced programs leading to a Chartered qualification in HRM, we ensure that our students receive a well-rounded education. # Course Duration 1. Foundation Course in Human Resource Management (FCHRM) 2 Months 2. Advanced Certificate in Human Resource Management (ACHRM) 3.5 Months 3. Diploma in Professional Human Resource Management (DPHRM) 12 Months 4. Chartered Intermediate in Human Resource Management (CIHRM) 11 Months 5. Chartered Qualification in Human Resource Management Final (CQHRM) 10.5 Months Business School offers separate specialized courses at both the diploma level and executive certificate level, catering to the diverse demands of HRM professionals. These courses have gained immense popularity, especially among HRM practitioners, line managers, supervisors, and other individuals seeking to enhance their skill sets. # Course Duration 1. Diploma in Training and Human Resource Development (DTHRD) 12 Months 2. Diploma in Industrial Relations and Employment Law (DIREL) 12 Months 3. Diploma in Occupational Safety & Health (DOSH) 12 Months 4. CMI level 07 Professional consulting programme 12 Months 5. Executive Certificate in Employment Law (ECEL) 03 Months 6. Executive Certificate in HR Analytics (ECHRA) 03 Months 7. Executive Course in Reward Management 03 Months STANDING COMMITTEE ON ‘DEVELOP GLOBALLY COMPETENT HR PROFESSIONALS
161 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Student Registration English Medium Vs Sinhala Medium 71% 29% English Medium vs Sinhala Medium Sinhala English Record of Student Registration: Council Year 2022/2023 Course 2022/23 FCHRM 568 CCHRM/ACHRM 2181 PQHRM/CQHRM 3205 NDTHRD/DTHRD 71 ECEL 119 ECHRA 82 DOSH 61 Total 6287 The Chartered Qualification in HRM Composition Advanced Certificate in Human Resource Management (ACHRM) 2,539 Diploma in Professional Human Resource Management (DPHRM) 1,872 Chartered Intermediate in Human Resource Management (CIHRM) 187 Chartered Qualification in Human Resource Management Final (CQHRM) 411 Total 5,009 Last Five Years Comparison of Student Registration Course 2018/19 2019/20 2020/21 2021/22 2022/23 FCHRM 816 314 725 627 568 CCHRM/ ACHRM 3161 2457 2958 NA 2181 PQHRM/ CQHRM 4912 4471 4680 6330 3205 NDTHRD/ DTHRD 50 11 64 63 71 MSc 58 70 28 34 NA ECOSH 38 59 NA NA NA ECEL 25 85 158 167 119 ECHRA NA 8 74 101 82 BSc NA 7 4 NA NA DIREL NA NA 20 25 NA DOSH NA NA 16 19 61 Total 9060 7482 8727 7366 6287
162 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Empowering Futures: CIPM’s Open Days & Career Guidance Programme CIPM aims to foster widespread knowledge and awareness of its Foundation Courses and Advanced Certificate courses, catering to O/L and A/L students. To achieve this objective, CIPM organizes Open Days & Career Guidance sessions that are conducted either virtually or physically, ensuring participation from across the island. The following provides an overview of the Open Days & Career Guidance Sessions held by CIPM from July 2022 to 2023. Open Days & Career Guidance Sessions serve as an excellent platform for CIPM to engage with potential students and offer comprehensive insights into the available courses. These events enable students to make informed decisions about their academic and professional paths. During the sessions, CIPM meticulously presents detailed information about its Foundation Courses and Advanced Certificate courses. Expert faculty members deliver engaging presentations, highlighting the course content, learning outcomes, and the diverse career opportunities that await students upon completion. By sharing this knowledge, CIPM equips attendees with the necessary understanding to select the courses best suited to their interests and aspirations. 30.09.2022 Career Guidance Session at Dudly Senanayake Vidyalaya, Gampaha 50 Participants 28.02.2023 Career Guidance Session at Royal College 300 Participants 04.03.2023 Open Day – Gampaha 31 Participants 11.03.2023 Open Day - Galle 25 Participants 04.03.2023 Open Day - Kandy 43 Participants 11.03.2023 Open Day - Kurunegala 33 Participants 14.03.2023 Open Day - Colombo 92 Participants 25.03.2023 Open Day 40 Participants 25.03.2023 Career Guidance Session at KIU 250 Participants 20.05.2023 Open Day (Online) 50 Participants Faculty The faculty at CIPM Sri Lanka is a diverse and esteemed group of professionals and academics who bring a wealth of knowledge and experience to the institute. With a total of 227 visiting faculty members, our team is actively engaged in delivering exceptional lectures and fostering a conducive learning environment for our students. Among these faculty members, we are proud to have 124 individuals who are esteemed members of CIPM. Their membership showcases their dedication to the field of human resource management and their commitment to upholding the highest professional standards. These CIPM member faculty contribute their expertise and practical insights to enhance the learning experience of our students. STANDING COMMITTEE ON ‘DEVELOP GLOBALLY COMPETENT HR PROFESSIONALS
163 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 In addition to our CIPM member faculty, we are privileged to have 103 outstanding faculty members who are nonmembers. These individuals bring a diverse range of perspectives and experiences from various sectors, enriching the educational offerings at our institute. Their contributions further enhance the depth and breadth of knowledge available to our students, ensuring a wellrounded educational experience. The composition of the CIPM faculty is a testament to our commitment to excellence in human resource management education. By bringing together professionals and academics from both within and outside the institute, we ensure that our students receive a comprehensive and industry-relevant education. CIPM Faculty 124 Master holders 15 PhD. holders 68 NDHRM/PQHRM/CQHRM holders 85 other professional qualification holders CIPM’s continuous approach to training and developing resource persons - Lecturer Competency Framework (LCF) The Lecturer Competency Framework (LCF) offered by the Business School is a highly specialized program designed to enhance the competency of resource personnel. This comprehensive framework comprises three key topics: Andragogy/Adult Learning, Effective Communication, and Presentation Skills. Participants who successfully complete the LCF program are required to demonstrate their skills by delivering a presentation to the training panel. Lecturer Competency Framework (LCF) Training – Completion Status Completed 148 Partially attended 17 Exempted 148 International Study Centre CIPM has successfully established its inaugural international study centre in Bangladesh. The promotional campaign for this endeavour was launched by CIPM Sri Lanka. Currently, CIPM and BIPD are collaboratively working towards commencing their first study program, which focuses on the Chartered Final level. Customer Relationship Management (CRM) system With the aim of delivering an exceptional customer experience, the Committee and the Executive Council have strategically decided to automate the primary functions of CIPM. In this regard, a comprehensive ‘Customer Relationship Management’ (CRM) system has been developed in collaboration with Zillione (Pvt) Ltd. Powering this system is Microsoft Dynamics 365, a cutting-edge platform. Currently, the Business School has successfully launched two phases and is actively working on its third phase. The implementation of Microsoft Dynamics 365, renowned for its advanced capabilities, has revolutionized and automated our student enrolment process. By optimizing our operations and creating a seamless experience for our students, the CRM system has significantly elevated our customer service standards while enhancing the productivity of the entire Business School team.
164 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Microsoft Dynamics 365 CRM STANDING COMMITTEE ON MARKETING OVERVIEW The Standing Committee on Marketing develops policies to maintain and enhance the brand value of CIPM Sri Lanka. Its goal is to cement CIPM’s position as the “Nation’s Leader in HRM.” The committee will monitor and assess the performance of all internal and external promotional and communication initiatives covering Above the Line (ATL), Below the Line (BTL) and Through the Line (TTL) platforms in order to accomplish this main goal. The committee examines competitor activity on a regular basis to ensure that CIPM Sri Lanka stays ahead of the competition and retains its leading position. The overall goal is to ensure that CIPM Sri Lanka’s brand image and core message are delivered consistently to all stakeholders while maintaining its dominating brand presence. The committee will supervise and assess the performance of all internal and external promotional and communication activities conducted on print, electronic, digital, and social media platforms, as well as public relations initiatives, in order to achieve this main purpose. On a monthly basis, the committee examines rival actions to ensure that CIPM Sri Lanka remains ahead of the pack and retains its leading position. The major goal of the Standing Committee on Marketing is to actively contribute to the preservation of CIPM Sri Lanka’s brand equity and image, allowing the organization to retain its immaculate reputation as the country’s leading professional HR body. To fulfill this duty, the committee oversees both internal and external communication activities, ensuring that marketing and communication objectives are fulfilled, as well as quality and presentation standards, across all platforms. The committee, which serves as a conduit between the institution and the general public, ensures that CIPM Sri Lanka’s stakeholders are always given the proper message in a consistent and implicit manner. The committee will also examine current processes and procedures, as well as the governance model, and provide suggestions for how to improve the institute’s corporate brand, both locally and globally. OBJECTIVES Formulating a standing committee budget in line with the strategic plan, obtaining approval from the CIPM Council and work within the same throughout the year Pursue the brand-enhancing exercises of the CIPM brand Provide marketing support for the following Roll out the entire marketing plan to promote all programs To enhance the image of the institute among stakeholders To promote initiatives developed by PMS Division To successfully complete NHRC, Great HR Quiz, and other corporate events Ensure student engagement activities in collaboration with Business School To help attract and retain members through a strategic marketing approach oTo help attract the budgeted No. of students to the business school for all programs through a strategic marketing approach Digital Marketing – Identify new digital media platforms to promote the CIPM brands and the Product portfolio Revamping the Website, Social media presence, Blog, and newsletters. Liaising with the Standing Committee on Business School and provide with marketing support for all their programmes The progress report of the Standing Committee on Marketing for the Council year 2021/2022 is resented below: COMMUNICATION MEDIA CIPM Sri Lanka, as a leader in HR education, uses a number of communication channels to reach out to a variety of consumer groups, both specific and broad. The most often utilized platforms are public relations, print media, electronic media, social media and other online platforms. PUBLIC RELATIONS AND PRINT MEDIA CIPM is publishing at least two (2) paper articles every month via its media relations, as well as publicize the study programs provided by CIPM in the periodicals. It’s also worth mentioning that public relations activities have grown in recent years. CIPM’s communications contain articles on workshops, seminars, conferences, webinars, brand development, CSR activities, corporate events, and news relating to human resources best practices that improve organizational performance, in addition to messaging about study courses. CIPM was able to build brand recognition while also satisfying the public’s need for current HRMrelated updates by publishing timely relevant articles in magazines, rather than confining its publications to newspapers. STANDING COMMITTEE ON ‘DEVELOP GLOBALLY COMPETENT HR PROFESSIONALS
165 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 ELECTRONIC MEDIA The CIPM has had a notable presence in broadcast media, with major events receiving substantial coverage on television and radio. To maintain brand awareness among the general public, CIPM Sri Lanka promotes its study programs on radio stations and major local television networks. To bring spectators’ attention to the institution, CIPM is considering posting ads on digital displays in prominent areas near chosen key junctions. The fundamental objective of digital screen advertising is to increase CIPM’s awareness. ONLINE MEDIA In addition to conventional media, CIPM promotes its flagship events and study programs on social media and via online media platforms. As a consequence of these activities, the institution was able to market and promote its events and programs to the young and tech-savvy audience. For CIPM, this has proved tobe an effective medium, as it has allowed the Institute to save marketing costs while improving brand recognition among potential customers. CIPM’s online communications are promoted via Facebook, Instagram, LinkedIn, Twitter, YouTube, and Google Ads. CIPM Sri Lanka’s Facebook page currently has over 74,000 followers, while CIPM’s Sri Lanka LinkedIn profile has over 25,000 connections, and both are continually expanding. The recently set up CIPM’s Instagram page is reaching almost 5,000 followers and the TikTok page is reaching 1,000 followers. CIPM AWARENESS PROGRAMMES During the Council year, CIPM Sri Lanka held online Open Days to assist O/L and A/L students and their parentswith a better understanding of career and further study routes. This was supported by leaflet distribution and newspaper insertion efforts aimed at Colombo and regional centers. On the other hand, CIPM takes the initiative to create awareness among university students and academics by hosting free career guidance workshops on relevant timely topics.
166 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 BRAND BUILDING By employing long-term branding strategies that encompassed both ATL and BTL advertising, CIPM was able to keep its brand top-of-mind throughout the year. Consumers and other stakeholders trust the institute’s corporate identity, goods, and services when it has a favorable brand image, according to the committee. As a result, the institute hired digital screens at strategic locations covering Head Office and its regional centres which enabled CIPM to reach a larger market segment at a reduced cost. These billboards are currently being used to promote CIPM corporate brand, academic programs and main events. MERCHANDISING Attractively designed leaflets, dockets, and prospectuses containing details of study programs offered by CIPM’s Business School and services offered by People Management Solutions were circulated on a regular basis to keep the relevant target groups informed about upcoming HR programs and other activities. EVENTS AND EXPERIENCES The institute participated in main education exhibitions, career fairs, and other relevant events held across the country allowing prospective students to meet and interact with the Institute’s staff and members without having to travel all the way to Colombo to do so. STANDING COMMITTEE ON ‘DEVELOP GLOBALLY COMPETENT HR PROFESSIONALS
167 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 STANDING COMMITTEE ON BUILD UP INTERNAL CAPABILITIES AND THE RIGHT CULTURE TO FULFILL CIPM OBJECTIVES (PEOPLE DEVELOPMENT) Committee Members Mr. Priyankara Seneviratne – Chairman Air Cdre. K. M. K. Keppetipola – Deputy Chairman Ms. K. A. C. K. Premarathne Mr. B. K. E. D. Abeywickrama Ms. A. Shalomi Ferdinando Ms. K. D. Sumali Shathika Mr. Tyrell S. Premachandra Mr. Sanjeewa Bogodage Staff Representative Mr Kushan Subasinghe Staff Coordinator Ms Dinali De Silva Objectives 1. Organisational Structure to facilitate the new strategic plan. 2. Develop second level management team. 3. Introduce the Quarterly Reward and Recognition Programme. 4. Mid-level staff development plan for career progression. 5. To formulate comprehensive training plan in line with results of TNA. 6. Prepare guideline for work life balance. 7. Prepare a competency framework for each job position in CIPM. 8. Identify the competency gap of each staff member and recommend the individual required training Committee report Staff Residential Programme The splendid Annual Staff Residential Programme took place on September 9th and 10th October 2022. The chosen destination for this year’s event was the enchanting Aliya Resort Dambulla. It was a joyous occasion that brought together a fantastic group of fifty-four (54) dedicated staff members from both the Head Office and the esteemed Regional Centers, including Kandy, Galle, Gampaha and Kurunegala. The Annual Staff Residential Programme held at Aliya Resort Dambulla was a remarkable event that showcased the talents and camaraderie of our dedicated staff members. The staff talent show was a highlight, where our team members presented a diverse range of entertainment items, including soulful solo singing, captivating drama performances, harmonious group singing, and energetic group dancing. This display of talent added vibrancy and enthusiasm to the gathering, fostering a sense of unity and appreciation among our workforce. The following day offered a refreshing change of pace as our staff engaged in various sports activities, including invigorating swimming pool sessions and spirited team gatherings. These activities provided a platform for staff members to connect on a more personal level and fostered a healthy work-life balance culture within our organisation. The two days spent at the enchanting Aliya Resort not only provided a picturesque backdrop for our event but also served as a catalyst for team building and collaboration. The opportunity to mingle with colleagues from different offices, including the Head Office and Regional Centers in Kandy, Galle, and Kurunegala, proved invaluable in strengthening relationships and enhancing teamwork. Overall, the Annual Staff Residential Programme at Aliya Resort Dambulla was a resounding success. It fostered an atmosphere of unity, encouraged the exploration and appreciation of diverse talents, and motivated our staff towards creating a harmonious work-life balance culture. The memories and connections forged during this event will undoubtedly have a lasting positive impact on our organisation as we continue to strive for excellence. The Standing Committee on International Affairs of CIPM Sri Lanka serves as a vital link between the local and international HR community. Their mission is to garner global recognition for the Institute’s endeavors and elevate its status as the premier HR body in Sri Lanka. Through dedicated efforts, the committee has strengthened international relations, fostering knowledge sharing and networking with HR counterparts worldwide. Active participation in renowned HR associations, such as the Asia Pacific Federation of Human Resource Management (APFHRM), has enabled CIPM to stay updated with the latest global HR practices. This knowledge empowers them to provide contemporary HR products and services to their valued stakeholders.
168 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Medical Centre In line with the visionary leadership of CIPM President, Mr. Ken Vijayakumar, a significant initiative was undertaken to prioritise the well-being of our staff members. Commencing from December 19th, 2022, all staff at CIPM were introduced to enhanced medical services to cater to their health needs. This proactive step aimed to ensure that our valued employees have access to essential medical care and support. To facilitate this initiative, we were privileged to welcome Dr. T. Munasingha, a highly esteemed medical practitioner, who now visits CIPM every Monday. Dr. Munasingha’s regular presence at our organisation allows our staff members to conveniently seek medical advice and receive necessary treatments, ensuring their physical and mental well-being. This initiative reflects our commitment to creating a supportive and nurturing work environment, where the health and welfare of our staff members remain paramount. By providing access to medical services, we empower our employees to prioritise their health and address any medical concerns in a timely and efficient manner. The introduction of this medical service initiative is a testament to our dedication towards fostering a holistic approach to staff well-being. It not only demonstrates our commitment to the welfare of our employees but also serves as a valuable resource that contributes to their overall job satisfaction, productivity, and engagement. Moving forward, we will continue to explore opportunities to further enhance our staff well-being initiatives, ensuring that our employees feel valued, supported, and cared for. By prioritising their health, we strive to create an environment where they can thrive both personally and professionally. Staff Training and Development Throughout the year, CIPM continued to foster a culture of continuous learning and professional development for its staff members. This commitment was exemplified through various initiatives aimed at enhancing their skills and knowledge. Some of the notable training sessions held during the year exemplify this dedication: Date Training programme Participants Resource person 19th August 2022 Managing WorkLife balance during a crisis All Staff Mr. Mahendra Jayasekera (Lanka Tile CEO) 23rd August 2022 Appreciative Inquiry workshop Managerial level staff Mr. C. Hewapattini 24th August 2022 The Smart ProfessionalCustomer service and Corporate Etiquette 10 numbers of Staff (Based on TNA) Mr. Kuma De Silva 31st August 2022 Lead without Titles – WIM Leadership Series (External) Ms. Lashika Liyanarachchi Panel of Speakers 13th September 2022 Appreciative Inquiry workshop Assistant Manager and Executive Level staff Mr. C. Hewapattini 16th September 2022 Urban Agriculture training session All Staff Mr. Roshan Jayasundara (Agriculture Officer) 17th September 2022 Advance Excel Training – Session 01 17 Staff members (Based on TNA) Mr. S.C. Kaluarachchi (CIPM Lecturer) 10 Continues weeks Executive Development Programme 06 Number of Staff (Based on TNA) Panel of Lecturers 04th October 2022 Programme on Fire Safety & Emergency Evacuation All Staff Mr. Gamini Galagamage 12th and 13th October 2022 National IT conference (External Training) IT staff Panel of Speakers 14th October 2022 Standards for Sustainable Development Goals (SDG) All Staff Mr. Uchitha De Soysa 27th October 2022 Toastmaster Club Ms. Piumi Liyanarachchi By Toastmaster Club 24th November 2022 Ways to Improve Your Presentation Skill Manager and AM Level Staff (Based on TNA) Mr. Shameer Rasooldeen STANDING COMMITTEE ON BUILD UP INTERNAL CAPABILITIES AND THE RIGHT CULTURE TO FULFILL CIPM OBJECTIVES (PEOPLE DEVELOPMENT)
169 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Date Training programme Participants Resource person 19th August 2022 Managing WorkLife balance during a crisis All Staff Mr. Mahendra Jayasekera (Lanka Tile CEO) 11th January 2023 How to Conduct a Performance Appraisal Discussion Manager and above grades Mr. C. Hewapattini 13th February 2023 Introduction to Quality Control Circles and how to implement it successfully in your workplace All Staff Mrs. Sakunthala Goonathileke 14th -15th February 2023 Workshop on “Internal auditing for ISO 9001:2015 quality management systems” Vishan, Vidya, Ravindu and Sanjeewa SLSI These initiatives to develop the skills of our staff members exemplify our commitment to fostering a learning culture within CIPM. By providing targeted training opportunities, we empower our employees to excel in their respective roles, broaden their horizons, and contribute to the organisation’s overall success. Moving forward, we will continue to identify and implement such development programs to support the professional growth of our staff, enabling them to reach new heights of achievement and excellence. International Women’s Day Celebrations International Women’s Day, celebrated on the 8th of March, provided an opportune moment for CIPM to acknowledge and express gratitude for the invaluable contributions of our female staff members. On this special day, each female staff member was presented with a delightful cupcake, accompanied by a heartfelt appreciation note. This gesture served as a token of our profound appreciation for their unwavering dedication, perseverance, and exceptional efforts that have played a pivotal role in the continued success of CIPM. Recognising the immense value they bring to the organisation, we aimed to convey our gratitude and admiration for their contributions. By celebrating International Women’s Day in this manner, we sought to reinforce the importance of gender equality and inclusivity within our organisation. We firmly believe in nurturing a work environment where all individuals are respected, valued, and provided equal opportunities to thrive and succeed. The cupcake and appreciation note presented to each female staff member on this significant occasion symbolised our commitment to recognising and honouring their remarkable achievements. It also served as a reminder of the vital role they play in driving our organisation forward. As we reflect upon the year, this heartfelt gesture on International Women’s Day stands as a testament to our enduring appreciation for the dedication, skills, and unique perspectives brought by our female staff members. Their contributions continue to shape the vibrant and diverse tapestry of CIPM, inspiring us all to strive for excellence. Moving forward, we remain committed to fostering an inclusive and supportive environment where each member of our team can thrive, irrespective of gender, and where their efforts are consistently acknowledged and celebrated. Employee Recognition In continuation of its commitment to employee recognition, CIPM introduced the Employees Recognition Scheme to recognise exceptional contribution of employees, quarterly. This scheme aims to acknowledge and reward exceptional performance, motivating our workforce to surpass conventional expectations and strive for extraordinary achievements. CIPM values its employees as the driving force behind the organisation’s journey in advancing the HR discipline within the country, as mandated by the Act of incorporation No. 24 of 1976. In line with this vision, the implementation of the Quarterly Employees Recognition Scheme will serve as a formal policy to honor and appreciate employees who consistently demonstrate exceptional performance. Recognising the significance of talent retention, CIPM management acknowledges that maintaining a highperforming staff is essential to avoiding a high attrition rate. By fostering a culture of recognition and reward, we aim to boost morale, inspire positive performance, and enhance overall productivity within the organisation. As time passed, the staff at CIPM eagerly gathered at the CIPM Auditorium for a momentous event. The occasion was graced by the esteemed presence of the CIPM President, Members of the CIPM Executive Council, the CEO, and the entire staff. Mr. Obeyesekere, in his welcoming address, set the tone for the gathering, and the CIPM President extended warm wishes for a prosperous new year to everyone in attendance. Adding vibrant colors to the event, the awards for the joint winners of the Employee of the Quarter Competition,
170 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Mr. Ganishka Botheju and Ms. Chanu Gamlath, were presented. Their outstanding achievements and the inspiring stories they shared served as a source of motivation and encouragement to all present. In the second quarter, Shehan Dinelka stood out for his remarkable contributions and exemplary performance. His dedication and commitment to excellence made him a deserving recipient of recognition within the Quarterly Employees Recognition Scheme. These initiatives to recognise outstanding employees underscore CIPM’s unwavering commitment to fostering a culture of appreciation and excellence. By formally acknowledging exceptional performance through schemes like the Quarterly Employees Recognition Scheme, we aim to motivate and empower our workforce to achieve their full potential, fueling the organisation’s growth and success. As we continue on our journey, we look forward to further celebrating the accomplishments of our exceptional staff and driving the HR discipline forward in Sri Lanka. New Year Celebrations Embarking on a fresh chapter, CIPM commenced the year with a joyous staff gathering on January 2nd, 2023, at the CIPM Cafeteria. The event was graced by the presence of the esteemed CIPM CEO, Mr. UAC Obeyesekere, who extended warm wishes for a prosperous New Year to all staff members. During the gathering, the entire CIPM team came together to pledge their commitment to performing to the best of their abilities in the upcoming year. This collective dedication to excellence set the tone for a year filled with motivation, enthusiasm, and shared goals. Following the pledge, a delightful “kiribath table” awaited the staff, providing a delightful culinary experience for all. The well-arranged spread was enjoyed by everyone, fostering a sense of camaraderie and celebration as the CIPM family gathered to mark the first working day of 2023. This special event symbolised the unity and determination of the CIPM staff as they embraced the opportunities and challenges of the year ahead. It set a positive tone for the organisation and reinforced the shared vision of driving the HR discipline forward in Sri Lanka. As we move forward, we carry the spirit of this memorable gathering, with a renewed sense of purpose and commitment to delivering excellence in all our endeavors. The first working day celebration served as a reminder of the collective strength and dedication of the CIPM team, and we look forward to achieving great heights together in the year ahead. Leadership Development and Management Development Programme CIPM recognises the critical role of effective leadership in driving organisational success. To foster the growth and development of our current and emerging leaders, we have implemented a comprehensive Leadership Coaching Programme. This program aims to enhance leadership skills, promote strategic thinking, and cultivate a culture of innovation and excellence within our organisation. Accordingly, Ms. Himali Dasanayake was nominated to follow this Leadership Coaching Programme at Colombo Leadership Academy. Through a combination of interactive workshops, experiential learning, and Coaching opportunities, able to gain valuable insights into leadership best practices, effective communication, decision-making, and change management. Management Development Programme Further, we understand the importance of equipping our managers with the necessary skills and knowledge to effectively lead their teams and drive organisational success. To fulfill this objective, we have established a robust Management Development Programme. The Management Development Programme offers comprehensive training and development opportunities to enhance managerial competencies and equip managers with the tools needed to excel in their roles. The program covers various key areas, including effective communication, team building, conflict resolution, performance management, and strategic decision-making. Through a combination of classroom sessions, case studies, group discussions, and practical exercises, participants in the Management Development Programme gain valuable insights and develop practical skills to address realworld managerial challenges. They learn to leverage their strengths, navigate complexities, and foster a culture of highperformance within their teams. By investing in the development of our managers, we strengthen their ability to lead, inspire, and motivate their teams towards achieving organisational goals. The Management Development Programme plays a vital role in cultivating a talent pool of competent and confident managers who contribute to the sustainable growth and success of CIPM. The following Staff Members were nominated to follow this customised management development programme which was conducted by the Colombo Leadership Academy. Mr. Anushka Earskin – Head of Business School Mr. Wathsala Nadeeshani- Head of Finance Mr. Indika Wijayasriwardana -Head of Shared Services STANDING COMMITTEE ON BUILD UP INTERNAL CAPABILITIES AND THE RIGHT CULTURE TO FULFILL CIPM OBJECTIVES (PEOPLE DEVELOPMENT)
171 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Mr. Chandima Pinsiri – Chief Manager -PMS Performance Management and Rewards and Recognition CIPM places a strong emphasis on performance appraisal to ensure that our staff members are recognised and rewarded for their contributions towards organisational success. We employ the Balanced Scorecards method, a comprehensive approach that aligns individual performance with strategic objectives. Throughout the year, Key Performance Indicators (KPIs) were assigned to each staff member, providing a clear framework to measure their performance against predetermined goals. Regular performance reviews were conducted at both midyear and year-end to assess individual achievements and provide constructive feedback for growth and improvement. As part of our commitment to recognising and incentivising exceptional performance, CIPM has implemented a performance-based reward and recognition system. Staff members who received an “A” rating in their performance appraisal were awarded a 20% increment, reflecting their outstanding contributions and dedication to excellence. Those rated as “B” received a 16% increment, while “C” raters were granted a 12% increment. This tiered approach ensures that rewards are proportionate to individual performance, motivating our staff members to consistently strive for excellence. In addition to salary increments, our Annual Bonus scheme is also tied to performance. Based on individual achievements and overall organisational success, the Annual Bonus serves as an additional incentive to drive high performance and encourage a culture of continuous improvement. By adopting a performance-driven approach and providing tangible rewards and recognition, CIPM aims to motivate and engage our staff members, fostering a high-performance culture and ensuring that their efforts are duly acknowledged. We firmly believe that a welldefined performance appraisal system, coupled with fair and transparent rewards, plays a crucial role in attracting, retaining, and developing top talent. Moving forward, we remain committed to refining and strengthening our performance appraisal processes to ensure alignment with organisational goals, drive individual growth, and create a workplace environment where excellence is celebrated and rewarded.
172 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 STANDING COMMITTEE ON NATIONAL HR CONFERENCE Overview Demonstrating an unwavering dedication to fostering learning, knowledge exchange, and the development of human resources, CIPM Sri Lanka consistently introduces a wide range of learning and development initiatives annually. Among these initiatives, the National HR Conference holds a pivotal role. As the flagship event in the CIPM’s event calendar, the National HR Conference draws an audience of over one thousand participants, including esteemed business leaders, strategists, policy makers, academia, HR practitioners, and professionals from across the globe. Notably, the conference also attracts the leadership of regional HR bodies and esteemed members of the Asia Pacific Federation of Human Resource Management (APFHRM). Committee Members Mr. Priyankara Seneviratne - Chairman Great HR Debate Air Cdre. K. M. K. Keppetipola- Deputy Chairman NHRC 2023 Mr. Kasun Nahallage - Chairman National HR Exhibition 2023 Mr. Ken Vijayakumar - President CIPM SL / Committee Member Ms. M. N. Wannakuwatte- Committee Member Mr. R. T. Pereira - Committee Member Mr. Tyrell S. Premachandra- Committee Member Mr. A. A. C. Amarasinghe- Committee Member Technical Committee on National HR Conference Mr. C. Hewapattini - Chairman - Technical Committee Prof. Ajantha Dharmasiri - Committee Member Mr. Jayantha Amarasinghe - Committee Member Mr. Ken Vijayakumar- Committee Member Mr. Priyantha Ranasinghe - Committee Member Mr. Dhammika Fernando - Committee Member Dr. Lalith A. P. Wijetunge - Committee Member OBJECTIVES a) Finalizing the Venue, Conference Theme, Event Agenda & final budget with Council approval by December 2022. b) Creating hype for the event as South Asia’s Largest HR Event while effectively managing the cost. c) Obtaining strategic partnerships/ sponsorships to cover all the expenditures. d) Attracting well-known Foreign and Local Resource Personnel. e) Organizing other parallel events such as Great HR Debate, National HR Exhibition. f) Creating awareness of the event around the country before, during, and after the event, and therefore, make it a point to budget for post-publicity as well. Post-publicity has been a weak area so far in the history of NHRC. National HR Conference (NHRC) The recently concluded National Human Resource Conference (NHRC) 2023, organized by the Chartered Institute of Personnel Management Sri Lanka (CIPMSL), was a highly successful event with over 950 participants. Taking place on June 21st and 22nd at the Monarch Imperial in Sri Jayewardenepura, the conference focused on the theme “Navigating Dire Straits.” After a three-year break, the NHRC made a triumphant return, attracting HR professionals and industry representatives from around the world. The NHRC 2023 offered a comprehensive program, including technical sessions, panel discussions, the Great HR Debate, a national exhibition, and the esteemed CIPM Lifetime Gold Award ceremony. Keynote speaker Mr. Rolf Blaser emphasized the need for critical evaluation, identifying factors within our control and navigating challenging times. Distinguished resource personnel from various countries, such as Bangladesh and the Maldives, participated in the conference, demonstrating global interest in CIPM Sri Lanka’s activities. The conference addressed pressing people management challenges, including the role of people management practices in dire situations, the impact of economic downturns on people practices, coping with skilled migrations, lessons from the Covid-19 pandemic, sustainable practices, and the significance of Employee Assistance Programs (EAPs) in economic crises. CIPM Sri Lanka president Ken Vijaykumar expressed delight in hosting the NHRC after a three-year gap, highlighting its importance in bringing together the HR community to discuss challenges and find practical solutions. Expert speakers and panelists contributed valuable insights, raising the standards for the HR community in navigating these difficult times. The NHRC 2023, chaired by Priyanka Seneviratne, Honorary Secretary of CIPM Sri Lanka, served as a valuable platform for HR professionals to connect and exchange ideas on company challenges. Mr. Seneviratne expressed confidence in the program organized by the committee, highlighting its ability to provide participants with added value. The conference itself provided HR professionals and stakeholders with a rewarding experience, featuring insightful sessions, thought-provoking discussions, and
173 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 ample networking opportunities. It successfully fostered dialogue, collaboration, and innovation within the HR community, establishing a strong foundation for future endeavors in human resource management. The NHRC 2023 expressed gratitude to its strategic partners and cosponsors, recognizing their support and collaboration in contributing to the event’s resounding success. Introduction to Theme Navigating Dire Straits During the economic downturn, organisations faced threats to their profitability such as reduced profit margins, limited credit access, declining sales, and disruptions in supply chains. To survive, organizations are implementing costcutting measures, including reducing capital spending and laying off employees. The human resources (HR) department is facing unprecedented challenges in managing compensation, retaining talent, and maintaining employee morale in remote and hybrid work arrangements. HR must also effectively manage industrial and employee relations to ensure a healthy work environment. The Great HR Debate – 2023 The CIPM Sri Lanka recently concluded its highly anticipated annual debating competition, known as The Great HR Debate 2023. This prestigious event welcomed both private and public sector organizations from across the country to showcase their debating prowess. The first round of debates took place on May 22nd, 2023, at the esteemed CIPM venue. Prior to this, a debriefing session was held on May 12th, 2023, to ensure all participating companies were wellprepared for the competition. During the first round, nine prominent companies, including CDB and Toyota, engaged in captivating debates on June 22nd, 2023. The participating teams were as follows: 1. St. Anthonys Ventures (Pvt) Ltd 2. Airtel Lanka (Pvt) Ltd 3. A. Baur & Co. (Pvt) Ltd 4. Aitken Spence 5. Citizens Development Business Finance PLC 6. Ceylon Tobacco Company PLC 7. David Pieris Group 8. ITX 360 (Pvt) Ltd 9. Toyota Lanka The preliminary rounds consisted of 14 exhilarating debates, leading up to the highly anticipated semi-finals on June 16th, 2023. The semi-final matchups were as follows: 1. St. Anthonys Ventures (Pvt) Ltd vs Ceylon Tobacco Company PLC - (Ceylon Tobacco Company PLC emerged victorious) 2. Airtel Lanka (Pvt) Ltd vs Aitken Spence - (Airtel Lanka (Pvt) Ltd emerged victorious)
174 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 The grand finale of this prestigious competition took place on June 21st, 2023, at the Monarch Imperial. The final showdown witnessed a battle between Ceylon Tobacco Company PLC and Airtel Lanka (Pvt) Ltd. Ultimately, Ceylon Tobacco Company PLC emerged as the deserving winners, while Airtel Lanka (Pvt) Ltd. Emerged as Runners Up. CIPM Lifetime Gold Medal - 2023 The CIPM Lifetime Gold Award in Sri Lanka stands as the pinnacle of recognition within the realm of Human Resource Management (HRM). This esteemed accolade serves to honor individuals who have made remarkable contributions to the advancement of the HR profession, while simultaneously championing the highest standards of HR practices. It is bestowed upon those who have demonstrated visionary leadership and unwavering dedication in strategic, operational, and advocacy roles within HRM for a minimum of ten years. We are delighted to announce that the recipient of this prestigious award is none other than Mr. Dhammika Fernando, a distinguished Chartered Fellow Member of CIPM. Mr. Fernando’s outstanding achievements have not only elevated the HR profession but have also left an indelible impact on the lives and careers of countless professionals. National HR Exhibition – 2023 We are delighted to announce that the Chartered Institute of Personnel Management (CIPM) Sri Lanka hosted the highly anticipated 19th National HR Exhibition on June 21st and 22nd, 2023 at the prestigious Monarch Imperial, Sri Jayewardenepura. This annual event conceded with the esteemed National HR Conference 2023, creating a unique and valuable experience for all attendees. With over 900 participants, including both local and international delegates, the gathering consisted of HR leaders and professionals from various private and public sector organizations. This presented an exceptional opportunity for all to showcase the products and services offered by their organization. STANDING COMMITTEE ON NATIONAL HR CONFERENCE
175 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 STANDING COMMITTEE ON GLOBALLY RECOGNIZED MEMBER CENTRIC ORGANIZATION Overview The Chartered Institute of Personnel Management (CIPM) acknowledges the importance of attracting competent HR professionals to join as members to advance the HR profession in the country. The Standing Committee on Globally Recognized Member Centric Organization 2023 actively engages in efforts to enlist qualified professionals as CIPM members for the institute’s growth. Initiatives like personalised coaching and mentoring programs have been introduced to support aspiring and existing HR professionals in their membership journey and professional development. Continuous upgrading of membership is encouraged for members to enhance their professional standing and stay updated with HR trends and best practices. The CIPM has made updates to different member categories, reflecting a commitment to meet the evolving needs of HR professionals. By fostering professional growth, networking opportunities, and recognition, the CIPM aims to elevate HR practice standards and drive excellence in the profession. Committee Members Mr. Jayantha Abeyratne - Chairman Mr. Kasun Nahallage - Deputy Chairman Ms. W. S. N. Pathberiya - Committee Member Mr. M. K. S. Patrick Perera - Committee Member Mr. N. W. Rasika Prasanna - Committee Member Mr. A. M. Anurasiri Adikari - Committee Member Ms. A. M. Wishwani Amarakoon - Member Ms. Deepani Ranaweera - - Committee Member Mr. Nishantha Premaratne - - Committee Member Major. J. A. B. S. Karunaratna - Committee Member Mr. H. M. N. A. Herath - Committee Member Mr. Upul Siriwardhana - Committee Member Mr. P. D. Liyanage - Committee Member Ms. A. G. G .P. Kariyawasam - Committee Member Ms. K. M. Shiroma Priyadharshani - Committee Member Objectives a) Lobby with BSHRM, MAHRP, AHRI for CIPM members to obtain membership. b) Introduce International short-term programmes for CIPM members at a concessionary rate. c) Member grievance procedure and dispute resolution procedure. d) Approach the Head of HR who satisfy the entry criteria of companies with 2 billion PAT. e) Obtain reciprocal membership from CIPD. Induction Ceremony of New Members 2022 In November 2022 and June 2023, 120 new members were warmly welcomed into the esteemed HR Fraternity of CIPM Sri Lanka. They were honored with certificates during a special ceremony where they learned about the institute’s rich history and the benefits it offers to members and their families. This event was a significant milestone, as it provided the new members with the necessary knowledge and preparation to become valued contributors within the institute. To foster fellowship, a delightful dinner was hosted, creating an ideal environment for the new members to interact and forge connections with the institute’s leaders. CDP Sessions, Guest Lecture and Management Movie Conducted by CIPM Sri Lanka. CPD Sessions The Standing Committee on Globally Recognized Member Centric Organizations organized several CDP (Continuous Professional Development) sessions at the CIPM Auditorium. On 16th November 2022, Mr. C. Hewapattini led a session on appreciative inquiry, attracting more than 70 CIPM Members. The event was highly successful. Another session on HRM in a BANI World, led by Prof. Ajantha Dharmasiri, took place on 19th January 2023, with the participation of over 70 CIPM Members. This session focused on sustainability strategies. On 27th January 2023, Dr. Asoka Jinadasa conducted a session titled “Future-Proofing Your Career: What Got You Here Won’t Get You There!” This session had more than 50 CIPM Members in attendance and was well-received. Lastly, on 3rd March 2023, Mr. Duminda Perera presented a session called “Work with Passion and Passion Will Work for You,” initiated by the Standing Committee. The session was held at the CIPM Auditorium, and it continued to uphold the committee’s commitment to providing valuable CPD opportunities for its members. Guest Lecture conducted by Mr. Chevaan Daniel at CIPM Sri Lanka A guest lecture titled “Working My Way Up” was delivered by Mr. Chevaan Daniel, Group Director of the Capital Maharaja Group, to all members of the CIPM (Chartered Institute of Personnel Management). This event was organized by the Standing Committee on Globally Recognized MemberCentric Organization and took place on December 2nd, 2022, from 6:00 pm to 8:00 pm in the Auditorium. In this insightful lecture, Mr. Chevaan Daniel shared his personal journey of professional growth and success. As the Group Director of the esteemed Capital Maharaja Group, his expertise and experience provided valuable insights for the CIPM members in attendance. The event was meticulously organized by the Standing Committee on Globally Recognized Member-Centric Organization, ensuring a seamless and enriching experience for all participants. The Auditorium provided a fitting venue for this prestigious lecture, offering a conducive environment for learning and networking.
176 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Mr. Chevaan Daniel’s lecture shed light on the strategies and principles he employed to ascend the corporate ladder. His captivating storytelling and practical advice resonated with the audience, inspiring them to strive for excellence in their own careers. The lecture commenced promptly at 6:00 pm, with CIPM members eagerly gathering to gain wisdom from Mr. Daniel’s vast knowledge and experience. The session lasted for two hours, during which attendees were encouraged to actively engage in the discussion and ask questions. Management Movie “The Management Film, presented by Dr. Samantha Rathnayake, was an exclusive event tailored for CIPM Members and Students. Titled ‘HR is Up in the Air and Upfront,’ this engaging session offered a unique blend of discussion and movie-based management learning. On Friday, 28th April 2023, at 6.00 pm, the CIPM Auditorium came alive with Dr. Rathnayake’s insightful presentation. Attendees were treated to a thought-provoking exploration of HR practices, all delivered in a professional and captivating manner. This event was meticulously designed to cater to the needs of CIPM Members and Students, with the sole purpose of fostering their professional growth. It served as a platform for individuals to expand their knowledge and gain valuable insights into the dynamic world of management. Dr. Rathnayake’s expertise and passion for the subject shone through, making this event an unforgettable experience for all who attended. By combining the power of film and the wisdom of management, participants were able to grasp complex concepts in a more relatable and engaging manner. Paduru Party 2023 The eagerly awaited Paduru party, which took place on March 10, 2023, exceeded all expectations by attracting an impressive crowd of over 80 distinguished individuals. Going beyond mere entertainment, the Paduru party offered a distinctive opportunity for members to partake in meaningful conversations, thereby promoting the growth and fortification of their professional connections. This unforgettable gathering facilitated valuable interactions among attendees, fostering collaboration, the exchange of knowledge, and a profound sense of camaraderie within the member community. PhD Grant The CIPM implemented a PhD grant program to encourage research, publications, and conference participation among its members. This initiative promotes professional development and provides support for academic pursuits. Dr. Tharindu Gunathilake, a deserving corporate member, was awarded the PhD grant after a thorough evaluation process. The recognition and financial aid will assist them in advancing their doctoral research and professional expertise. The CIPM remains dedicated to offering valuable opportunities and support for its members’ academic and professional endeavors, recognizing the significance of research, knowledge dissemination, and scholarly contributions in the field of human resource management. Life and Critical Illness Cover The Life and Critical Illness coverage provided by the committee has proven to be highly beneficial for CIPM members. It offers extensive insurance coverage that supports members facing critical illnesses by providing financial assistance for medical expenses. This cover has been well received by members who appreciate the peace of mind it brings, ensuring their medical needs are met without administrative hassle or financial stress. It exemplifies the CIPM’s commitment to member well-being and demonstrates meaningful support in times of need. The Life and Critical Illness cover has positively impacted numerous members’ lives, relieved financial strain and allowing them to focus on recovery. This valuable resource is part of an inclusive benefits package that enhances the overall membership experience and emphasizes the institute’s dedication to professional and personal growth. Two critical illness covers were granted in the past year, and the CIPM remains dedicated to continually evaluating and improving member services to meet evolving needs. Members’ Day 2023 The CIPM Members Day 2023, organized by the committee, took place on July 16, 2023, at the picturesque Barn House in Panadura. It was a highly anticipated event that attracted a large number of enthusiastic members. The organising committee planned a day filled with excitement and entertainment for members of all ages. The event featured toe-tapping music, thrilling games, and engaging activities, creating a vibrant atmosphere. The gathering brought together a diverse cross-section of members, encouraging interactions and networking. With 220 participants, including corporate and affiliate members and their families, the event offered delectable food, refreshing beverages, and the chance to win fabulous prizes. Each member received a specially branded gift as a token of appreciation. The CIPM Members Day 2023 exemplified the institute’s dedication to inclusive events that foster enjoyment, camaraderie, and a sense of belonging within the CIPM community. STANDING COMMITTEE ON GLOBALLY RECOGNIZED MEMBER CENTRIC ORGANIZATION
177 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 COLLEGE OF PAST PRESIDENTS The College of Past Presidents serves a crucial role as the Advisory Body to the leaders of the institute, including the President and the Council. Recognising the valuable expertise, knowledge, and advice of the past presidents, the President and Council readily seek their consultation whenever necessary. Regular meetings of the College of Past Presidents are conducted once every two months, utilising a hybrid mode for efficient communication. Past Presidents Mr. D. P. Bollegala Dr. Ranjith Cabral Mr. K. T. G. R. De Silva Ms. S. N. Fernando Mr. M. P. Galapathy Mr. M. N. J. Jayaratna Mr. Janaka Kumarasinghe Mr. U. A. C. Obeyesekere Dr. Lalith A. P. Wijetunge Mr. H. A. R. W. Amarapala Mr. Ajith R de Costa Prof. Ajantha Dharmasiri Dr. D. S. M. Perera Mr. Dhammika Fernando Mr. Jayantha Amarasinghe (Immediate Past President) Staff Representative Ms. Tania Vanderstraaten The convener of the College of Past Presidents acts as a vital link between the past presidents and the Council, sharing pertinent details regarding new initiatives, activities, and developments within the institute. The invaluable views, ideas, and suggestions put forth by past presidents are carefully conveyed to the President and the Council, aiding in effective policy decision-making. In a significant contribution to the policy-making process of the institute, the College of Past Presidents elaborated at their meeting on the importance of having a Risk Management Committee, the Impact of Artificial Intelligence on the Profession, and Futuristic Thinking. The active involvement and guidance provided by the College of Past Presidents reinforce the institute’s commitment to benefit from the collective wisdom and experience of esteemed leaders who have shaped its history. Their continued engagement serves as a testament to the strength and unity of the institute’s leadership, fostering a culture of consultation, collaboration, and effective governance.
178 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Ten Year Summary.................................................................................................. … Value Added Statement .......................................................................................... … Glossary of Financial Terms ................................................................................... … Branch Network...................................................................................................... … Corporate Sponsors ............................................................................................... … Notice of Meeting.................................................................................................... … Inner Back Cover.................................................................................................... … Corporate Information............................................................................................. … STEWARDSHIP
179 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 RACCOONS ARE NOCTURNAL ANIMALS, AND THEY HAVE VERY GOOD EYESIGHT WHICH HELPS THEM SEE AT NIGHT. THEY ARE OMNIVOROUS AND EAT EVERYTHING THE FOREST HAS TO OFFER – FROM NUTS AND BERRIES ON TREES TO FISH IN STREAMS. THEY STORE UP FAT SO THEY CAN SLEEP FOR A MONTH OR SO AT A TIME IN THE COLDER WINTER MONTHS, AND THEY CAN EVEN SHARE A WINTER DEN WITH OTHER ANIMALS LIKE OPOSSUMS AND MUSKRATS SO EVERYONE STAYS WARM.
180 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 GOVERNANCE REPORT OF THE GOVERNING COUNCIL The Chartered Institute of Personnel Management Sri Lanka was founded in 1959 and was incorporated by the Parliamentary Act No. 24 of 1976, which was amended by the Parliamentary Act No. 31 of 2018, by which the Institute was renamed as Chartered Institute of Personnel Management Sri Lanka. The Institute consists of Chartered Fellows, Chartered Members and Associate Members, all of whom are collectively referred to as “Corporate Members”. The Governing Council of the Institute comprises eighteen (18) members, committed to maintaining a high standard of corporate governance practices within the Institute and devoting considerable effort to identifying and formalising best practices that are fundamental to efficient, effective, and transparent operations. Governing Council Composition The primary role of the Council is to protect and enhance long-term relationships with the stakeholders, thereby setting the overall strategy for the Institute. In this regard, the Council supervises the senior management while ensuring good corporate governance policies and practices are implemented within the Institution. This apex governing body of CIPM comprises fourteen (14) members elected by the Corporate Members of the Institute and four (4) individuals who are co-opted by the elected Council. The members of the Executive Council are individually responsible for the overall management of the Institute’s activities and therefore, the daily operational activities of the Institute are delegated to the senior management team led by the Council. They are closely monitored and are accountable for the performance of the Institute as measured against the corporate goals and business targets set by the Council. The Council consists of a mixed blend of members specialised in HRM. They are a diverse team in gender and age representation. The President is a Chartered Fellow Member or a Chartered Member of the Institute who is invited by the outgoing Council to assume duties and whose term of office is renewed annually. In the absence of the President, the Vice President is appointed under the provisions of the By-Law to act as the President. Apart from the President, the Immediate Past President and the four (4) Co-opted members, the main Office-Bearers, namely the Vice President, Secretary and Treasurer are are elected at the Annual General Meeting. All other office bearers, namely the Assistant Secretary, Assistant Treasurer, Editor, and Six Council Members,are elected annually in accordance with the procedure stipulated in the By-Laws at the Annual General Meeting. The Annual General Meeting of the Institute is held on or before 31st July of every year Upon appointment, all new members of the Council are provided with an induction to CIPM Sri Lanka’s governance structure, role, responsibilities, and the way in which the Council meetings are conducted. Responsibilities of the Governing Council The direction and management of the Institute are vested with the Council. Appointing of Standing Committees for a specific period which may consist of members of the Council and other members, including non-corporate members and other appropriate or necessary persons from different professions to facilitate the achievement of objectives of the Institute. Implementing a defined, regulated system comprising strict internal controls, procedures and processes regarding all expenditures incurred on behalf of the Institute. Formulating the Annual Budget of the Institute, including the expected income and forecasted expenditure for the ensuing year and, thereafter closely monitoring any variations. Providing directions to prepare the statement of funds of the Institute, inclusive of receipts and payments during the past financial year and obtaining the verification and attestation of the Auditor before it is presented at the Annual General Meeting. Drawing up a Yearly Performance Report on the state of the Institute to be presented at the Annual General Meeting. Making, amending, and rescinding rules for the betterment, ordering of any matter referred to in the ByLaws for better governance of the Institute and its affairs and obtaining approval for the same from the general membership. This can only be carried out at a Special General Meeting of the Institute. Maintaining and publishing a register of members of the Institute. Ensuring maintenance of professional standards among the members of the Institute and other personnel practising or acting as personnel. Human Resource Managers or Consultants will take all actions deemed necessary to see that the members adhere to professional ethics and conduct. Making decisions on the selection of secretarial staff, remuneration and other terms of their employment. Ensuring proper financial administration procedures in keeping with the generally accepted accounting principles, which are to be strictly followed by those authorised to handle the finances of the Institute.
181 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Council Member Attendance 2022/2023 (Aug 2022 – June 2023) Name Position Present Excused Total Number of Regular Meetings attended Total Number of Special Meetings Attended 1 Mr. Ken Vijayakumar President 16 0 13 03 2 Mr. Jayantha Amarasinghe Immediate Past President 09 07 09 0 3 Mr. Priyantha Ranasinghe Vice President 15 01 14 02 4 Mr. Priyankara Seneviratne Hony. Secretary 12 04 09 03 5 Col. Saman Jayawickrama Hony. Treasurer 16 0 13 03 6 Ms. Wasanthi Vithanage Hony. Editor 14 02 13 01 7 Air Cdre. Manoaj Kepettipola Hony. Assistant Secretary 16 0 13 03 8 Ms. Shiwanthie Wijesuriya Hony. Assistant Treasurer 13 03 11 02 9 Mr. Jayantha Abeyratne Council Member 15 01 13 02 10 Mr. Malintha Bombuwala Council Member 12 04 10 02 11 Mr. Namal Jayaweera Council Member 06 10 06 0 12 Ms. Davina Kern Council Member 15 01 12 03 13 Dr. Nilan Miranda Council Member 15 01 13 02 14 Mr. Chandima Premachandra Council Member 11 05 09 02 15 Mr. Kasun Nahallage Council Member 12 03 10 02 16 Dr. Neil Bogahalande Council Member 13 03 10 03 17 Prof. Prasadini Gamage Council Member 08 07 07 01 18 Ms. Rajee Ravichandran Council Member 10 04 08 02 Note - Attendance of the Council is only up to 30th June 2022. The President of CIPM Sri Lanka is the highest authority in leading and representing the institute. With the consultation of the Council, he provides strategic direction, fosters partnerships, and advocates for the human resource management profession. He presides over meetings, supports members, and contributes to thought leadership. The President’s role is essential in driving the vision and success of CIPM Sri Lanka. President’s Roles The President is elected and serves in an honorary capacity. The President leads the Governing Council in discharging its duties effectively and enhances the Institute’s standards of governance. The President demonstrates leadership in the Institute’s long-term strategy and growth which is fit for purpose in the current operating context his term of office is two years and thereafter he shall serve on the Governing Council for another term of two years designated as Immediate Past President. The President leads the Governing Council ensuring effectiveness in all aspects of its role. The President is responsible for determining and preparation of the agenda for the meetings in consultation with the Honorary Secretary and the Chief Executive Officer. Governing Council members also can request items to be included in the agenda for discussion. The agenda and council papers are circulated to the Governing Council members well in advance to ensure adequate time to study, call for additional information if required and be prepared for productive deliberations. A proper record of the minutes is maintained at the CIPM Secretariat and Honorary Secretary is responsible for the preparation of minutes.
182 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 CEO’S Role CEO is a full-time employee, responsible to manage the operations of the Institute with the support of the Management Staff. CEO ensures that the Governing Council is provided with timely, accurate, relevant and comprehensive information at both Governing Council and Standing Committee meetings. Chief Executive Officer’s performance targets are set at the commencement of the financial year with approval of the Annual Budget as per the Strategic plan which is reviewed on a quarterly basis at the Governing Council. The annual review is performed by the Remuneration Committee. CEO plays the key operational role in the organization. He is responsible for reporting to the Council and managing the day-to-day operations, including overseeing resources, making decisions, and monitoring performance. The CEO ensures that the institute operates efficiently and effectively, implementing strategies and policies in line with the Institute’s vision, and objectives. He also provides leadership to the staff, fosters a conducive work environment, and drives continuous improvement. The CEO’s operational role is critical in achieving the institute’s mission and sustaining its success. Role of the Standing Committees The Standing Committees of CIPM Sri Lanka play essential roles in supporting the institute’s objectives and ensuring effective governance. Each Standing Committee of CIPM Sri Lanka has a specific scope which was derived from the Strategic Plan and the Annual Budget. Members will be appointed to each standing committee. Standing committees are required to meet in either physical or virtual and discuss the specific roles that have been assigned for them and need to update at the monthly council. These committees focus on specific areas of expertise and contribute to the overall functioning and development of the Institute as well as the HR Profession. GOVERNANCE REPORT OF THE GOVERNING COUNCIL
183 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 RISK MANAGEMENT REVIEW Managing risks through a robust framework guarantees our ability to sustain operations and nurture objectives for future growth. As witnessed in recent years, an increasingly volatile external environment undoubtedly has varying levels of impact on an internal environment. Our ultimate objective is to instil risk-consciousness throughout the Institute, where proactive and prudent thinking becomes first nature in managing risks. In this regard, we have fortified our risk management framework to be all-inclusive with a relevant governance structure and techniques for risk assessment, risk mitigation and risk reporting. How we manage risks Determined by Governed by Shaped by Supported by Monitoring risk management and control standards of all the activities/affairs through internal audit and timely communication with Governing Council. Training on topics such as internal control, quality assurance, authority limits, business ethics and compliances Our culture and values, guiding our approach to risk management Our overall strategy and objectives reflecting our risk appetite
184 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Risk management process Risk Identification Risk Assessment Risk Measurement Risk Control and Mitigation Communication and Reporting We adopt a structured approach to proactively managing risks. Risk Identification Brainstorming sessions and discussions to identify risks by all key divisions, including the Business School, Professional and Academic Affairs, Finance and Administration, Information Technology, and Human Resources etc. Risk assessment Risks are assessed and prioritised based on their impact on the Institute’s ability to sustain operations successfully and continue to create growing value. Risk measurement Statistical measures and metrics to ascertain CIPM’s risk profile, quantify the level of impact from each material risk and help establish threshold levels to define the risk appetite. Risk control and mitigation. Risk management entails mitigation and control of identified material risks. Communication and reporting A set of pre-defined criteria is used to monitor the performance of risk management requirements. Performance outcomes are then reported to the Governing Council on an ongoing basis. RISK MANAGEMENT REVIEW
185 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 The following risk management process takes into account key factors such as the proper identification of potentials risks followed by proper analysis, planning and monitoring of the process. Risk management process Identification of potential risks to the institute List of potential risks identified for the institute Preparing a prioritized list of risks for the institute Risk avoidance & contingency plans are identified for the institute Risk assessment is done to study the success of Risk Management process Analysis of the institutional risks Planning for risk activities with brainstorming sessions Monitoring the implemented risk process Levels of risk management (structure) Our risk management framework relies on a top-down approach, beginning with the Governing Council which moves down to the management. The Council – The Governing Council has overall oversight on the Institute’s risk management process The Audit, Legal and Due Diligence Committee – Assists the Governing Council to discharge its duties prudently, ensuring that the Institute’s objectives are safeguarded and aligned with stakeholder interests. The committee met several occasions across the year under review. The committee has the responsibility to maintain regular reviewing and updating of the risk management framework while monitoring the risk profile of the institute. The Committee has also appointed a reputed Chartered Accountant for continuous audits, covering all material risks. Management level – Monitoring the operating environment for potential risks and adopting relevant mitigation measures to manage such risks. Regular reporting to keep the Committee informed of the Institute’s risk profile Sub level – Implementation of risk mitigation measures and adherence to internal control Governing Council Audit, Legal & Due Diligence Committee Management Level Risk Management at Sub Level
186 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Internal audit function Internal audit findings are reviewed and presented to the Audit, Legal and Due Diligence Committee with discussions based on presented information. This is done on a quarterly basis. During the year, 3 audits took place with internal audits conducted by a reputed Chartered accountants firm KPMG and the process is continued ongoing basis. Types of potential risks and approaches to mitigation The Institute has identified and established main risks that have the potential to impact operations, strategic direction and value creation. These are Operational and Reputational Risk, Financial Risk, Compliance Risk and Competitive Risk, HR related risk and IT risks. Risk Type Approach to Mitigate the Risk Operational and Reputational Risk- (The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events and as a result possibility of losing the reputation gained over the period of time.) Continuous review and revision to the content of the study courses. Monitoring the discipline of conducting lectures and examinations. Ensure continuous follow ups on customer complaints which will turn into customer satisfaction. Evaluating the effectiveness of the IT and other related support services. Conducting internal audits on continues basis and reviewing the findings on quarterly basis. Conducting external audits on an annual basis and closely review the points highlighted in Management Letter. Comprehensive insurance cover on all the properties including the assets of the regional centers. Insurance cover for Hospitalization and Critical illnesses for all the employees. Maintaining the ISO standards of the Institute. Financial Risk- (The risk of cash flow of the Institute appears inadequate to meet its financial obligations. Financial risk also refers to the possibility of Institute defaulting on its liabilities, which would cause those creditors to lose money. Liquidity risk and credit risk are the integral part of the financial risk) Continuously maintain sufficient liquidity to meet its obligations to minimize the liquidity risk The investment portfolio of the Institute is maintained in several licensed banks to mitigate the Credit risk Using the budgetary controls and periodically monitor the deviations. Continues monitoring the institute’s fund position while assuring the adequacy of the liquid funds to run the operation Various investment appraisal techniques are used to analyze in detail before finalizing investment decisions. Compliance Risk (The risk of the operations of the Institute not to be conducted in accordance with the Institute’s By –Laws, code of conducts and other regulatory requirements) All Council members, top management and all the staff are well educated that the zero tolerance for the breaches on the By-Laws is mandatory. Dedicated secretariat and membership division is established in supporting the Council and the members to be complied with the requirements Continuous monitoring of statutory payments, to the relevant regulatory bodies together with required documents to be filed. RISK MANAGEMENT REVIEW
187 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Risk Type Approach to Mitigate the Risk Competitive Risk -(Probability of loss from a decline in a Institute’s competitiveness) Focusing more on effective brand awareness among the target markets Action plans to compete with the other competitive institutions to be the nation’s leader in HRM. Approaching to new regions of the country to expand the market Obtaining foreign university affiliations to attract new market segments. HR Related Risk (Difficulties in attracting and retaining employees of high caliber and specialized knowledge, will impact our ability to achieve institute’s strategic goals) Ongoing efforts to strengthen our employee value proposition Continuous Investment in training and development Offer opportunities for career progression Maintain a high level of employee engagement Information Technology Risk -(Risk of disruption to IT systems, teaching and supporting services) Establishing a Disaster Recovery Centre cloud – ensuring data security Implementing a System and network security and day-to-day monitoring and automation alert/ Notification system of the Institute’s system and network. Introduced and Implemented Acceptable Usage IT Policy and Procedure in line with ISO 27001 ISM Standards link with an Employee handbook, Student and Member Handbooks. Implemented a centralized storage onsite backup management system and offsite cloud storage backup management system. Introducing and Implementing IT Security Audits – Annually from Outsourced ISO/ IEC 27001 ISM Standards Certified IT auditor. IT Security Risk assessments allow to update and enhance our existing security and risk management strategy with the staffs, process, and technologies necessary to elevate its information protection posture to the level necessary to mitigate current risks.
188 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Review of operations of the Institute and future developments The President’s Message on page xx, Chief Executive Officer’s Review on page xx, and Honorary Secretary’s Message on page xx provides an overall review of the operations, future developments, and the state of other affairs and special events that took place during the financial year under review. Preparation of Financial Statements The financial statements have been prepared in compliance with the Sri Lanka Financial Reporting Standards for SME’s and the Council is responsible for the preparation and fair presentation of the financial statements. Financial statements are certified by the Chief Executive Officer and are approved by the Governing Council and signed by the President and Hony. Treasurer of the Institute. The Council Members are of the view that the Statement of Comprehensive Income, Statement of Financial Position, Statement in Changes in Funds, Statement of Cash Flows, Accounting Policies & Notes thereto appearing in the Annual Report have been prepared in conformity with the requirements of the Sri Lanka Financial Reporting Standards for SME’s. Auditors Report BDO Partners, Chartered Accountants performed the audit on financial statements of the Institute for the year ended 31 March 2023 and their report on financial statements are given on page xx, as required by the Section 168 (1) (c) of the Companies Act No. 07 of 2007. Property, Plant & Equipment Three blocks of lands at Narahenpita are stated at cost and all other Property, plant and equipment are stated at cost less accumulated depreciation, as at the date of the financial statements. ANNUAL REPORT OF THE GOVERNING COUNCIL MEMBERS’ ON THE AFFAIRS OF THE INSTITUTE Council Members’ Disclosure of Interest Payments are made in the ordinary course of business to any member of the Institute for certain specified activities. During the reporting period, some members of the Council have been involved in such activities at the request of the Council on behalf of the Institute and such transactions and the Council members’ interest in contracts with the institute are disclosed on Note No.26 to the financial statements on page XX. Statutory Payments The members of the Council are satisfied to the best of their knowledge that all statutory and regulatory payments due to the Government, other local authorities and employees of the Institute have been made on time. Events after the Reporting Date No significant events or material transactions have occurred after the date of financial statements that would necessitate adjustments to the financial statements. Going Concern The members of the Council made an assessment on the Institute’s ability to continue as a going concern and do not intend either to liquidate or to cease operations of the Institute in the foreseeable future. Exposure to Risk The Council continuously monitors, evaluates and manages any potential exposure to risks that can impact upon the progress of the Institute and has taken all necessary steps to mitigate such risks. Internal audits are carried out on continues basis while all audit findings are discussed on a quarterly basis before the audit committee in order to identify potential risk areas and to take necessary action towards mitigating such risks. The members of the Council are satisfied with the effectiveness of the prevailing internal control systems.
189 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 21.07.2023 Appointment of Auditors Auditors are appointed at the Annual General Meeting and BDO Partners, Chartered Accountants are presently functioning as the Auditors of the Institute. Financial statements for the year ended 31 March 2023 have been audited by BDO Partners, Chartered Accountants, in accordance with the Sri Lanka Accounting Standards for Small & Medium Sized Entities. Contingent Liabilities There are no contingent liabilities as at the date of the financial statements. Annual General Meeting As per the By-Laws of the Institute, the Annual General Meeting of the Institute should be held on or before the 31st day of July of every year. The Annual General Meeting for 2023 will be held at Waters Edge, Ethul Kotte Road, Battaramulla on 29th July 2023. For and on behalf of the Governing Council Ken Vijayakumar President
190 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 Statement of Responsibility of the Management ........................................... 77 Independent Auditor’s Report ....................................................................... 78 Statement of Financial Position .................................................................... 80 Statement of Comprehensive Income ........................................................... 81 Statement of Changes in Funds and Reserves ............................................. 82 Statement of Cash Flows ............................................................................. 83 Notes to the Financial Statements ................................................................ 84 F.B. Lander Prize Fund ................................................................................ 111 Cyril E. Begbie Memorial Prize Fund .......................................................... 112 Ten Year Summary ...................................................................................... 113 Appreciation ............................................................................................... 114 Regional Information Centres ...................................................................... 115 Notes .......................................................................................................... 116 Corporate Information ................................................................................ IBC FINANCIAL INFORMATION
191 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 A POLAR BEAR’S WHITE APPEARANCE GIVE’S IT CAMOUFLAGE ON THE SNOW AND ICE, THIS IS AN ADAPTATION THAT KEEPS THEM HIDDEN FROM PREY. POLAR BEARS ALSO HAVE THICK LAYERS OF FAT AND FUR THAT KEEP THEM WARM IN THE COLDEST WEATHER AND EVEN IN ICY WATERS. IN ADDITION, POLAR BEARS HAVE LEARNED TO BECOME EXCELLENT SWIMMERS AND SPEND LONG PERIODS OF TIME IN AND UNDER THE WATER. THEIR FAVORITE FOOD LIVES IN AND AROUND THESE COLD WATERS, SEALS.
192 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CHARTERED INSTITUTE OF PERSONNEL MANAGEMENT SRI LANKA (INC) Report on the Audit of the Financial Statements Opinion We have audited the financial statements of Chartered Institute of Personnel Management Sri Lanka (INC) (“the Institute”), which comprise the statement of financial position as at 31st March 2023 and the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies as set out on pages … to …. In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Institute as at 31st March 2023, and of its financial performance and its cash flows for the year then ended in accordance with Sri Lanka Accounting Standard for Small and Medium sized – Entities (SLFRS for SMEs). Basis for Opinion We conducted our audit in accordance with Sri Lanka Auditing Standards (SLAuSs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Institute in accordance with the ethical requirements of the Code of Ethics issued by CA Sri Lanka (Code of Ethics) that are relevant to our audit of the financial statements, and we have fulfilled our other ethical responsibilities in accordance with the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation of financial statements that give a true and fair view in accordance with Sri Lanka Accounting Standard for Small and Medium sized–Entities (SLFRS for SMEs), and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Institute’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Institute or to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Institute’s financial reporting process. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SLAuSs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
193 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 As part of an audit in accordance with SLAuSs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Institute’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Institute’s ability to continue as a going concern. If we conclude that material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures, are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Institute to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. CHARTERED ACCOUNTANTS Colombo 02 30th June 2023 SR/kp
194 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 STATEMENT OF COMPREHENSIVE INCOME 2022/2023 2021/2022 For the year ended 31st March 2023 Note Rs. Rs. Revenue 4 490,401,419 535,753,274 Direct cost (132,498,169) (164,413,001) Gross surplus 357,903,250 371,340,273 Committee’s expenditure over income 5 (35,674,233) (19,296,573) Other operating income 6 61,455,533 17,914,765 383,684,550 369,958,465 Administration expenses (284,139,668) (237,772,925) Promotional expenses (2,693,383) (2,664,524) Finance expenses 7 (4,967,142) (5,894,983) (291,800,193) (246,332,432) Excess of income over expenditure before income tax 91,884,357 123,626,033 Income tax expense 8 (21,721,535) (15,926,235) Excess of income over expenditure after income tax 70,162,822 107,699,798 Figures in brackets indicate deductions. The Accounting policies and notes on pages … to … form an integral part of these financial statements. Colombo 30th June 2023
195 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 STATEMENT OF FINANCIAL POSITION As at 31.03.2023 As at 31.03.2022 As at 31st March 2023 Note Rs. Rs. Assets Non-current assets Property, plant and equipment 9 469,104,857 473,109,203 Leasehold improvements 9.1 3,590,858 17,817,907 Intangible assets 10 6,004,316 6,336,106 Financial assets at amortized cost 11 340,285,782 292,784,079 Total non-current assets 818,985,813 790,047,295 Current assets Inventories 3,160,140 3,182,950 Financial assets at FVTPL 12 205,623 230,725 Trade and other receivables and prepayments 13 284,756,572 282,807,579 Cash and cash equivalents 14 1,302,523 1,952,195 Total current assets 289,424,858 288,173,449 Total assets 1,108,410,671 1,078,220,744 Equity and liabilities Capital and reserves Accumulated reserve 15 856,383,799 786,220,977 Other funds 16 768,962 762,849 Total capital and reserves 857,152,761 786,983,826 Non-current liabilities Retirement benefit obligation 17 24,684,712 20,559,184 Total non-current liabilities 24,684,712 20,559,184 Current liabilities Deferred income 18 163,249,998 176,200,466 Other payables and accrued expenses 19 37,922,291 57,342,505 Interest bearing borrowings 20 - 13,333,331 Income tax payable 21 17,661,364 11,531,163 Retention payable 22 3,057,037 4,149,149 Bank overdrafts 23 4,682,508 8,121,120 Total current liabilities 226,573,198 270,677,734 Total liabilities 251,257,910 291,236,918 Total equity and liabilities 1,108,410,671 1,078,220,744 The Accounting policies and notes on pages … to … form an integral part of these financial statements. We certify that the above statement of financial position, to the best of our knowledge and belief, contains a true account of the capital, liabilities, property and assets of the Institute. U. A. C. Obeyesekere Chief Executive Officer The Council Members are responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the Council by: Ken Vijayakumar Saman Jayawickrama President Hony. Treasurer Colombo 30th June 2023 SR/kp
196 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31ST MARCH 2023 Accumulated reserve Other funds Total Description Rs. Rs. Rs. Balance as at 01st April 2021 678,521,179 1,322,526 679,843,705 Excess of income over expenditure for the year 107,699,798 - 107,699,798 Additions during the year - 31,676 31,676 Utilizations/transfers during the year (591,353) (591,353) Balance as at 31st March 2022 786,220,977 762,849 786,983,826 Excess of income over expenditure for the year 70,162,822 - 70,162,822 Additions during the year - 6,113 6,113 Balance as at 31st March 2023 856,383,799 768,962 857,152,761 Figures in brackets indicate deductions. The Accounting policies and notes on pages … to … form an integral part of these financial statements. Colombo 30th June 2023
197 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 STATEMENT OF CASH FLOWS 2022/2023 2021/2022 Rs. Rs. Cash flows from operating activities Excess of income over expenditure before taxation 91,884,357 123,626,033 Adjustments for Depreciation on property, plant and equipment 27,287,219 25,989,290 Amortization on intangible assets 653,788 630,633 Amortization of leasehold improvements 18,018,550 10,177,867 Provision for gratuity 5,224,318 4,238,665 (Profit)/loss on disposal of fixed assets (103,544) (9,083) Interest income (51,274,845) (12,499,810) Dividend income (4,604) (4,297) Fair value (gain)/loss on investments 25,102 166,047 Operating income before working capital changes 91,710,341 152,315,345 Changes in working capital Decrease/(increase) in inventories 22,810 (572,780) Decrease/(Increase) in debtors and receivables (1,948,993) 25,292,642 (Decrease)/increase in other payables and accrued expenses (19,420,214) 13,847,704 (Decrease)/increase in deferred income (12,950,468) 2,870,892 (Decrease)/increase in retention payable (1,092,112) 1,357,970 Cash generated from operations 56,321,364 195,111,773 Gratuity paid (1,098,790) (611,910) Tax paid (15,591,334) (13,211,357) Net cash generated from/(used in) operating activities 39,631,240 181,288,506 Cash flows from investing activities Acquisition of property, plant and equipment (23,316,711) (61,832,845) Additions to leasehold improvements (3,791,501) - Disposal proceeds of property, plant and equipment 137,382 20,000 Acquisition of intangible assets (321,998) (6,095,767) Investment in financial assets (Net) (47,501,703) (114,108,505) Interest income 51,274,845 12,499,810 Dividend income 4,604 4,297 Net cash flow from/(used in) investing activities (23,515,082) (169,513,010) Cash flows from financing activities Funds received/(utilized) during the year 6,113 (559,678) Receipt/(settlement) of borrowings (13,333,331) (11,666,669) Net cash generated from/(used in) financing activities (13,327,218) (12,226,347) Net increase/(decrease) in cash and cash equivalents 2,788,940 (450,851) Cash and cash equivalents at the beginning of the year (6,168,925) (5,718,074) Cash and cash equivalents at the end of the year (3,379,985) (6,168,925) At the end of the year Cash in hand 113,717 80,887 Cash at bank 1,188,806 1,871,308 Bank overdrafts (4,682,508) (8,121,120) (3,379,985) (6,168,925) Figures in brackets indicate deductions. The Accounting policies and notes on pages … to … form an integral part of these financial statements. Colombo 30th June 2023
198 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 NOTES TO THE FINANCIAL STATEMENTS 1. CORPORATE INFORMATION 1.1 Domicile and legal form Institute of Personnel Management Sri Lanka (INC) is an Institute incorporated in Sri Lanka by Law No. 24 of 1976 of the National State Assembly whose name has been changed to, Chartered Institute of Personnel Management Sri Lanka (INC) under the Institute of Personnel Management Sri Lanka (Amendment) Act No. 31 of 2018 with effect from 28th September 2018. The registered office and principal place of business of the Institute are located at No.43, Vijaya Kumaranathunga Mawatha, Colombo 05. 1.2 Principal activities and nature of operations The principal activities of the Institute are, a) to promote and develop the principles, techniques and practice of personnel management in Sri Lanka; b) to help in the acquisition and Interchange of knowledge by reading of communications and discussions thereon by establishing and maintaining libraries, publications on matters of professional Interest and any such other means c) to promote the study of personnel management and to encourage research into the best means and methods of applying the principles and techniques of personnel management in the Interest of the Industrial and economic development of Sri Lanka; d) to conduct examinations qualifying for membership of the Corporation to test the competence of persons engaged in personnel management and to grant certificates of competence; e) to assess the eligibility of candidates for admission to various grades of membership; f) to regulate the professional activities and to assist in maintaining high standards in the general conduct of its members; g) to give the Government and other Institutions both in the public and private sectors the facilities for conference with and ascertaining the views of personnel managers as regards matters directly or indirectly affecting personnel management; h) to encourage and assist, in the settlement of disputes, between the Institute and its members by arbitration and to nominate arbitrators and umpires; i) to foster co-ordination with similar professional institutions in Sri Lanka and other countries in furthering the objectives of the Corporation; and j) to do all such other acts and things as are incidental or conducive to the attainment of the above objects or any of them. 1.3 Date of authorization for issue The financial statements for the year ended 31st March 2023 were authorized for issue by the Executive Council of the Institute on 30th June 2023. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 2.1 General accounting policies 2.1.1 Basis of preparation These financial statements presented in Sri Lankan Rupees have been prepared under the historical cost convention except for financial assets, which are stated at their fair value. 2.1.2 Statement of compliance The statement of financial position, statement of comprehensive income, statement of changes in equity, statement of cash flows and notes to the financial statements together with accounting policies of the Institute as at 31st March 2023 and for the year then ended, comply with the Sri Lanka Accounting Standard for Small and Medium-sized Entities (SLFRS for SMEs). 2.1.3 Comparative information The accounting policies have been consistently applied by the Institute and are consistent with those of the previous year. The previous year’s figures and phrases have been re-arranged wherever necessary to conform to the current year’s presentation. 2.1.4 Functional and presentation currency The financial statements are presented in Sri Lankan Rupees (Rs) which is the organization’s functional and presentation currency. 2.1.5 Materiality and aggregation Each material class of similar items is presented separately in the financial statements. Items of a dissimilar nature or function are presented separately unless they are immaterial. 2.1.6 Significant accounting judgments, estimates and assumptions The preparation and presentation of financial statements in conformity with SLFRS for SMEs, requires management to make judgments, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates and judgments used.
199 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 Estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognized prospectively. The most significant areas of estimation uncertainty and critical judgment in applying accounting policies that have the most significant effects on the amounts recognized in the financial statements of the Institute are as follows: 2.1.6.1 Useful economic lives of property, plant and equipment The Institute reviews the residual values and estimated useful lives at each reporting date. Judgment of the management is exercised in the estimation of these values and rates. 2.1.6.2 Impairment of non-current assets The Institute tests annually the indicators to ascertain whether non-current assets have suffered any impairment in accordance with the accounting policy stated in note 2.2.1.9. These calculations require the use of estimates. 2.1.6.3 Impairment of receivables The Institute assesses as at the reporting date whether there is objective evidence that receivables have been impaired. Impairment loss is calculated based on a review of the current status of existing receivables and historical collections experience. Such provisions are adjusted periodically to reflect the actual and anticipated impairment. 2.1.7 Going concern The members of the Council have made an assessment of the Institute’s ability to continue as a going concern and they do not intend either to liquidate or to cease operations. 2.2 Assets and bases of their valuation 2.2.1 Property, plant and equipment 2.2.1.1 Cost Property, plant and equipment are recorded at cost less accumulated depreciation and less any impairment in value. 2.2.1.2 Cost and valuation All items of property, plant and equipment are initially recorded at cost. Where any item of property, plant and equipment is subsequently revalued, the entire class of such assets is revalued. Revaluation is carried out with sufficient regularity to ensure that the carrying amounts do not differ materially from their fair values as at the date of the statement of financial position. Subsequent to the initial recognition of an asset, property, plant and equipment are carried at historical cost or, if revalued, at the revalued amounts less any subsequent depreciation. Additions to property, plant and equipment subsequent to the last revaluation are carried at cost less any subsequent depreciation. 2.2.1.3 Subsequent expenditure Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the item of property, plant and equipment. All other expenditure is recognized in the statement of comprehensive income as an expense when incurred. 2.2.1.4 Depreciation Provision for depreciation is calculated by using the straight line method on all property, plant and equipment except for freehold land, in order to write off such amounts over the estimated useful lives of such assets. Land is not depreciated as it has an indefinite life time. The estimated useful lives are as follows: Assets category Useful lifetime Building 40 years Furniture and fittings 10 years Other equipment 6 2/3 years Plant and machinery 4 years Computer equipment 4 years Depreciation of an asset begins when it is available for use whereas depreciation of an asset ceases at the date when disposed or derecognised. The asset’s residual values, useful lives and methods of depreciation are reviewed and adjusted, if appropriate, at each financial year. 2.2.1.5 Restoration costs Expenditure incurred on repairs or maintenance of property, plant and equipment in order to restore or maintain the future economic benefits expected from the originally assessed standard of performance is recognized as an expense when incurred. 2.2.1.6 De-recognition An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset is calculated as the difference between the net disposal proceeds and the carrying amount.
200 Annual Report 2022/2023 CIPM SRI LANKA DRAFT 02 26.07.2023 2.2.1.7 Intangible assets An intangible asset is recognized if it is probable that future economic benefits that are attributable to the asset will flow to the entity and the cost of the asset can be measured reliably. Intangible assets acquired separately are initially recognized at cost. Subsequent to initial recognition intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. Subsequent expenditure on intangible assets is capitalized only when it increases the future economic benefits embodied with these assets. All other expenditure is expensed when incurred. Intangible assets are derecognized on disposal or when no future economic benefits are expected from their use. The gain or loss arising from derecognition of intangible assets is measured as the difference between the net disposal proceeds and the carrying amount of the asset. The estimated useful lives are as follows: Asset Category Useful lifetime E-Books 10 years ERP System 10 years 2.2.1.8 Leasehold improvements Leasehold improvements include the cost of additions, alterations, remodeling, or renovations incurred by the Institute on our leased/rented premises, in order to bring them into the Institute’s desired or specific condition. All leasehold improvements are amortized over the remaining life of the lease term or the life of the improvement, whichever is shorter. 2.2.1.9 Impairment of assets At each reporting date, property, plant and equipment are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset (or group of related assets) is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognized immediately in the statement of comprehensive income. If an impairment loss subsequently reverses, the carrying amount of the asset (or group of related assets) is increased to its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognized for the asset (or group of related assets) in prior years. A reversal of an impairment loss is recognized immediately in the statement of comprehensive income. 2.2.2 Inventories Inventories are valued at the lower of cost and net realizable value, after making due allowances for obsolete and slow-moving items. Net realizable value is the price at which inventories can be sold in the ordinary course of business less the estimated cost of completion and estimated cost necessary to make the sale. 2.3 Financial instruments 2.3.1 Financial assets 2.3.1.1 Trade and other receivables Trade and other receivables are recognized initially at the transaction price. Subsequently, they are measured at transaction cost less provision for impairment. Services are made on normal terms and most of the services are made on the basis of normal credit terms, and the receivables do not bear interest. Where credit is extended beyond normal credit terms, receivables are measured at amortized cost using the effective interest method. At the end of each reporting period, the carrying amounts of trade and other receivables are reviewed to determine whether there is any objective evidence that the amounts are not recoverable. If so, an impairment loss is recognized immediately in the statement of comprehensive income. 2.3.1.2 Cash and cash equivalents Cash and cash equivalents are defined as cash in hand, demand deposits and short-term highly liquid investments, readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. For the purpose of the cash flow statement, cash and cash equivalents consist of cash in hand, deposits in banks and investments with short maturities. i.e three months or less from the date of acquisition, less bank overdrafts. 2.3.1.3 Other financial assets 2.3.1.3.1 Financial assets at fair value through profit or loss (FVTPL) Financial assets at FVTPL comprise of investments in equity securities. They are initially recognized at transaction price. After initial recognition, investments in equity securities that are publicly traded, are measured at fair value with changes in fair value recognized in profit or loss. NOTES TO THE FINANCIAL STATEMENTS