Northern Rock Building Society Essay

Mission Statement

Northern Rock is a specialized loaning and nest eggs bank which aims to present superior value to clients and stockholders through excellent merchandises, efficiency and growing.

Corporate profile

Northern Rock Building Society was formed on 1 July 1965 as a consequence of the amalgamation of Northern Counties Permanent Building Society ( established in 1850 ) and Rock Building Society ( established in 1865 ) . Northern Rock Building Society so merged with a figure of little local edifice societies and, prior to its transition to a populace limited company in October 1997, was an merger of 53 societies.

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On 1 October 1997, Northern Rock listed on London Stock Exchange as public limited company. which authorised under the Banking Act 1987. This amalgamation besides set up of The Northern Rock Foundation. Which is an independent charitable organic structure work as improve quality of life and tackle disadvantage in North East and Cumbria.

In February 2008, Northern Rock was nationalised by impermanent public ownership. Northern Rock Foundation has been guaranteed a minimal income of & A ; lb ; 15 million per twelvemonth in 2008, 2009 and 2010.

Northern Rock is regulated by the Financial Services Authority.


Grudges are concerns jobs or ailments that employees raise with their employer. There is no lawfully adhering procedure that you and your employer must follow when raising or managing a grudge at work. However there are some rules you and your employer should detect. ( ACAS, 2009 )

Disciplinary Procedure

Company ‘s disciplinary process helps to advance good employment dealingss every bit good as equity and consistence in the intervention of employees.

It should be seen as manner of assisting and encouraging betterment amongst employees whose behavior or criterion of work is unsatisfactory.

What are the chief rules of subject?

  • Probe

Purpose of which is to garner all of the facts, non to come to any decisions or do any determinations.

  • Discipline

Purpose of which is to reexamine all of facts, reappraisal possible disciplinary results and do a determination.

General Information

  • No formal disciplinary action will usually be taken against employee until the affair has been investigated.
  • Formal disciplinary action means a countenance such as demotion, verbal or written warning or dismissal. It does non include suspension.
  • Probes will be conducted within a sensible period.
  • At every phase in process employee will be advised of nature of ailment against employee and given chance to province instance before any determination is made.
  • Employee will non usually be dismissed for first breach of subject except in instance of gross misconduct, when the punishment will be dismissal without notice or payment in stead of notice.
  • Employee will hold the right to appeal against any formal disciplinary action imposed.
  • Judgment of dismissals will merely be conducted by Business Managers and supra.
  • Formal Verbal Warning

A formal verbal warning for misconduct or hapless public presentation will be given and inside informations noted on employee personal file.

  • Final Written Warning

Where the formal verbal warning has non been heeded and any misconduct occurs once more or misconduct or hapless public presentation continue is serious plenty to deserve a concluding written warning itself, dismissal can be the consequence. Detailss of concluding written warnings will be noted on employee personal file.

  • Disciplinary Transfer, Demotion or Dismissal

Where a concluding written warning is non heeded and any misconduct occurs once more, or hapless public presentation continues or does non better, the concluding measure might be a disciplinary transportation to another division and/or demotion or dismissal. Dismissal, except in the instance of gross misconduct, will be with appropriate notice.

Examples of Misconduct that may take to disciplinary action

  • Insubordination and failure to obey instructions or execute work as required or defined.
  • Disregard or sloppiness that consequences in the loss, harm, or devastation of the belongings of the Company or any other individual.
  • Accustomed lateness or absence without authorization.
  • Leaving the occupation without permission whilst working.
  • Failure to keep criterions of production.
  • Failure to describe personal hurts instantly to a director.
  • Using obscene, vile or opprobrious linguistic communication to fellow employees.
  • Harassment, exploitation, know aparting against and/or strong-arming any employee or client on the footing of gender, age, matrimonial position, sexual orientation, disablement, race, coloring material, nationality, cultural beginning, faith or belief.
  • Failure to keep acceptable criterions of personal visual aspect.
  • Unprofessional behavior with regard to other employees or clients.
  • Conducting personal affairs/other concern without mandate whilst working.
  • Posting, disfiguring or taking notices without mandate.
  • Inaccurate accounting.
  • Entering into external service contracts without the anterior mandate of the relevant coverage director.

Examples of Gross Misconduct Resulting in Dismissal

  • Dispute of safety regulations or failure to obey any direction that could impact the safety of any employee or client.
  • Deceitful completion of Company histories and/or other paperss
  • Removing Company money without authorization or neglecting to put Company monies instantly into safe detention
  • Making statements or unwraping to any individual, including imperativeness, wireless, telecasting and media representatives, any information relating to the Company, its concern or personal businesss, its clients or fundss, or any of its trade secrets at any clip during the continuation of your employment.
  • Reporting for work under the influence or utilizing, possessing, having, devouring, covering selling intoxicant and/or drugs on the premises. This will non use in the instance of medical specialties prescribed by a medical practician
  • Maltreatment or failure to follow any of the Company ‘s policies or processs
  • Falsifying an application signifier or giving false information associating to your employment
  • Failing to follow with the demands of the Data Protection Act
  • Seriously hassling, victimizing, know aparting against and/or strong-arming any employee or client on the footing of gender, age, matrimonial position, sexual orientation, disablement, race, coloring material, nationality, cultural beginning, faith or belief
  • Bringing the Company into serious discredit
  • Breach of trust and assurance
  • Falsifying any clock card including utilizing a clock card so as to enter a clip which has non been worked, doing accommodations to hours worked or utilizing the clock card of another employee
  • Damaging, destructing or taking without permission Company equipment or belongings, or that of fellow employees
  • Exploitation of employees doing a revelation under the Whistle blowing Procedure.
  • Conviction of an offense deemed by the Company to be serious

Appeal Procedure

Right to appeal against disciplinary action

If employee are dissatisfied with any formal disciplinary action taken, employee have right to appeal against it by composing to line director within 14 yearss of any determination.

Entreaties may be raised on figure of evidences ; these evidences will be considered when make up one’s minding the extent of a new probe and/or relistening.

Entreaties will be dealt with every bit quickly as possible taking into history operational demands.

Company will put up the individual who will carry on entreaty and employee will be advised of entreaty meeting inside informations one time written petition has been received.

Employee will usually be advised as to the result of an entreaty within 14 yearss. Decision made following the entreaty will be concluding.

Condemnable Acts

What happens if employee commits a condemnable act outside of work?

If condemnable charges or strong belief brought against employee and go known to Company, affair will be investigated and all the facts considered. Company may make up one’s mind that employment can non be continued and militias the right to disregard employee without notice in appropriate instances. In some state of affairss it may be appropriate to suspend employee without wage pending the concluding result of a condemnable hearing and Company militias the right to make so in such fortunes.

Grievance Procedure

Who can employee talk to if hold job at work?

Company realises that from clip to clip employee may hold work related jobs or concerns about work, working environment or working relationships that employee want to raise and hold addressed. Grievance Procedure provides a mechanism for jobs that can non be resolved through informal treatments with director. If employee feels he/she has such job and have attempted to acquire it resolved through informal methods, employee should follow formal grudge process outlined below.

General Points

  • Formal grudges should be made in composing to immediate director.
  • Grievance hearings will be conducted every bit quickly as possible taking into history operational demands.
  • Company will put up individual who will look into the grudge and will rede employee of the meeting inside informations.
  • Employee will be advised of the result every bit shortly as possible.

If an employee is non satisfied with the result of his/her meeting with the individual the Company has nominated to hear the grudge, he/she can appeal. The determination made following the entreaty will be concluding.

External Agencies

This policy does non curtail employees ‘ rights to raise their concerns outside the Council ( e.g. the Audit Commission, the Environment Agency, the Health and Safety Executive or the constabulary ) , but is intended to ease rapid internal probe and decide employees ‘ concerns, so that they do non experience the demand to mention to external bureaus.


  1. Disciplinary and grudge process by ACAS, 2009. ISBN 978-0-11-706728-8

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