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Human Resource Management in Bangladesh - Exim Bank
Human Resource Management in Bangladesh - Exim Bank
Human Resource Management in Bangladesh - Exim Bank
Management
in
May, 2010
Management
in
SUPERVISED BY
Professor Sheikh Ashraf Ali, Ph.D Department of Business Administration Northern University Bangladesh
PREPARED BY
Kanis Akter Shimu BBA 050301540 Department of Business Administration Northern University Bangladesh
.................................. (kanis akter shimu) ID: BBA 050301540 Major: HRM Minor: Marketing Department of Business Administration Northern University Bangladesh
Certificate of Supervisor
With regard to this report Human Resource Management in Bangladesh: A Study on Exim Bank Limited submitted by Kanis Akter Shimu, for the Degree of Bachelor of Business Administration, I certify that: (1)She has carried out internship under my direct supervision and guidance (for three months) and that the manuscript of the report has been scrutinized by me and (2)The final composed copy of this, which is being submitted to the Northern University Bangladesh, has been carefully read by me for its material and language.
.............................. (Professor Dr. Abdul Awal Khan ) Head, Department of Business Administration Northern University Bangladesh
................................ (Professor Sheikh Ashraf Ali Ph.D) Professor of Management Northern University Bangladesh
Letter of Transmittal
31.05.2010 To Professor Sheikh Ashraf Ali, Ph.D Northern University Bangladesh Dhanmondhi, Dhaka Subject: Letter of transmittal Sir, I am submitting my internship report on Human Resource Management in Bangladesh: A Study on Exim Bank limited. I have collected as much information as possible from banking activities of the Exim Bank Limited. Three months work on this organization was a worthwhile experience for me as it was in such a reputed organization. It is a great pleasure for me to present you with the report as a requirement of the Bachelor Degree. I believe that this internship program has enriched both my knowledge and experience. Obediently Yours, ........................... (kanis akter shimu) ID: BBA 050301540 Major: HRM Minor: Marketing Department of Business Administration Northern University Bangladesh
Acknowledgement
At the beginning, I am very grateful to almighty Allah for giving me the strength to finish the internship report as a part of my BBA Program. I am obliged to Northern University Bangladesh for giving me such on opportunity to express my real life working experience to them. I am also thankful to my supervisor. Professor Sheikh Ashraf Ali Ph.D for his kind guidelines and evaluations. This paper is the out came of my practical work at Exim Bank Ltd. Mirpur Branch after 90 days of working & collection. I have got sufficient help & co-operation from Exim Bank officials to prepare their report. I thank all the officers and staffs. I am very much thankful to honorable HR Vice-President & Head of the HRE of Exim Bank Shah Mohammad Abdul Bari, Branch Manager Mr. Mosleh Uddin Ahmed, Ezaz Ahmed Khan (Executive officer, Accounts Department), Abdullah Al Mohammed (Principle officer & in Charge Foreign Exchange), Khandakar Reza Mahmod Ahsan (Principal Officer, General Bank) for their cordial cooperation. It will be ungrateful it I dont mention the name of Farjana Mustary (Officer), Md. Badrul Alam(Executive officer), Mohammad Shahajalal Mazumder (Senior officer, HRD) and Delower Hossain (Executive officer, HRD). They helped me a lot while working Exim Bank Limited for giving me their valuable time.
...........................
(Kanis Akter Shimu) BBA 050301540 Major in HRM Minor in Marketing. Department of BBA.
Abbreviation Used
Abbreviation
ALM ALCO EXIM EXIM BANK LTD FDBP HRM HRD IBA ICCA LDBP MANCOM MTO NPI PA PAS ROA SME SWIFT TAO
Full name
Asset Liability Management Asset Liability Committee Export Import Export Import Bank Limited Foreign Documentary Bill Purchase Human Resources Management Human Resources Division Institute of Business Administration Internal Control and Compliance Division Local Documentary Bill Purchase Management Committee Management Trainee Officer Net Profit Income Performance Appraisal Performance Appraisal System Return On Assets Short & Medium Enterprise Society for Wide Interbrain Telecommunication Trainee Assistant Officer
financial
EXECUTIVE SUMMERY
Modern Banking is an outcome development driven by changing financial activities & life style. It offers the widest range of financial services specially credit, saving & payment services perform the widest range of financial function of any business firm in the economy. Exim Bank Limited was established on 3rd August, 1999 under the Leadership of Late Mr. Shhajahan Kabir, founder chairman who had a wing dream of floating a commercial bank which would contribute to the socio-economic development of our country. Exim Bank Ltd. sets success in very short time; the main reason of success is their skilled employees & highly trained up employees. However, Exim Banks all are recruitment examination taken by IBA (Institute if Business Administration) and they select the highest skilled worker among the all candidates. I have worked there for three months as a requirement of the internship phase of BBA program under the Department of Business Administration, NUB. Human resource management can be defined as a process of procuring, developing & maintaining competent human resources in the organization. So that goals of an achieved in an effective & efficient manner. Human resource management can be defined as a process of procuring, developing & maintaining competent human resource in the organization so, that goal of an organization are achieved in an effective and efficient manner. Human Resource Management The policies and practices involved in carrying out the people or human resource aspects of a management position, including recruiting, training, rewarding, and appraising. Division of Exim Bank is one of the most valuable departments with the responsibilities of staffing, training and development, organization development, performance appraisals, rewarding, control and maintenance etc. The Human Resource of Exim Bank is exactly well thought and perfectly managed. Exim Bank is committed to focus all its energy on its customer as well as its employees.This is sure a strong Human Resource practices will help Exim Bank to pave the way leading outmost destination. Human Resource Division in Exim Bank is under massive reconstruction program ensure the future benefits and high corporate culture and the secured place of contribution and dedication the experience and the exposure of high professionalism.
Table of contents
Chapter No
Description
Declaration Certificate Latter of Transmittal Acknowledgement Abbreviation Used Executive Summary
Page no.
One
1.1
Two
2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16
1-4 2 2 3 3 5-24 6 7 8 8 8 9 10 10 12 14 16 17 18 21 22 23
2.17
Three
3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9 3.10 3.11 3.12 3.13
Activities of HR Department
Human Resource and Management Duties of HRD Function of HRM Recruitment Recruitment Policy of the Exim Bank Ltd. Selection Selection Procedure of Exim Bank Ltd. Training & Development: Management Development of Exim Bank Motivation Function of HRD of Exim Bank Ltd. Compensation & Benefit Performance Appraisal System (PAS Method of PA
24 25-45 26 26 27 27 28 30 30 35 36 37 38 41 42
Four Five
5.1 5.2 5.3 5.4
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48-51 49 50 50 51
Six Seven
52 54-56
55 56 58 59
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Chapter One
Introduction & Background
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1.1 Introduction
Human Resource Management plays a very much important role for every business organization. It helps the organization to run perfectly & to achieve the organizational goals. Naturally employees develop themselves day by day. They make any work broken down & divide it into small & small job, which helps to do the work more effectively; When we hear this word of Human Resources Management naturally we think that it is related to human activities. As part of the internship program of Bachelors of Business Administration course requirement, I was assigned for doing my internship in Exim Bank Limited for the period of 90 days starting from 25 January, 2010 to 24 April, 2010. During my Internship period in Exim Bank Ltd, at Mirpur Branch. I learn many things of Human Resource Management.
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1.3 Methodology
This report has been prepared on the basis of experience gathered during the period of internship from January, 25 to April 24, 2010. For preparing this report, I have undertaken group discussion, collected data and sent some questionnaire to the selected officers and other employees. During I have collected my information & data from the following sources, which helped me to make the report. The source has been divided by two parts. Such as:
Primary Sources: Oral interview of the responsible officers. Personal experience gained by visiting different desks during internship period. Official records of Exim Bank Limited.
Secondary Sources: Annual Reports of Exim Bank. Relevant Papers & different books. Manual of different departments.
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Many officials of the branch are not well informed about different systems of Exim Bank. The Officers are very co-operative but they are too much busy to give time to get knowledge about practical activities.
Chapter Two
Profile of the Organization
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Date of incorporate : June 02, 1999. Inauguration of first Branch: August 03, 1999. Chairman : Md. Nazrul Islam Mazumder. Secretary : Mr. Md. Golam Mahbub. Managing Director : Mohammad Lakiotullah. Authorized Capital : 5763,886,880 Tk (2008) Paid up Capital :267,774,6000 Tk (2008) Converted to Islamic Bank : July 01,2004. Slogan : Together Towards Tomorrow. Target Customers : Individual & Corporate customer. Deposit : 57,586,991,798 (2008) General Investment : 53,637,677,103 (2008) Foreign Exchange Business : 156434.57 Tk (2008) Number of Branch : 44 (2009). Total Manpower : 1440 (2009).
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to growth and progress with services. To achieve the desired goal, there will be pursuit of excellent all stages with a climate of continuous improvement, because in Exim Bank, they believe, the line of excellent is never ending. Banks strategic plans and networking will strengthen competitive edge over others in rapidly changing competitive environments. Its personalized quality services to the customer with the trend of constant improvement will be corners tone to achieve their operational success.
Credit Rating: Long Term Short Term Notification of reporting : A (Adequate safety) : ST-2 ( High Grade) : May 26, 2009.
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Registered Office: SYMPHONY Plot No-SE (F)-9, Road No-142. Gulshan Avenue, Dhaka-1212. PABX No. 880-2-9889363, Fax : 880-2-9889358. Website: www.eximbankbd.com, SWIFT: EXBKBDDH.
Auditors: Hoda vasi Chowdhury & Co. Chartered Accountant BTMC Bhaban (8th level), 7-8 Karwan Bazar, Dhaka.
Chairman Mr. Md. Nazrul Islam Mazumder Director Mr. Mohammad Abdullah Mrs. Nasreen Islam Mrs. Nasima Akhter Mr. A. K. M. Nurul Fazal Bulbul Alhaj Md. Nurul Amin Mr. Zubayer Kabir Mr. Md. Habibullah Mr. Md. Abdul Mannan Mr. Abdullah Al-Zahid Shapan Mr. Mohammad Shahidullah Managing Directors Mr. Kazi Masihur Rahman Company Secretary Mr. Md. Golam Mahbub
Board of Directors
The board of Exim Bank consists of 13 Directors including and independent Director. Board Members includes person of high caliber with academic and professional qualifications. In line with the directives of the regulatory authority. The Board looks after the corporate 19
philosophy, policy issue making rules and procedures, approving business targets, strategy etc. The Board formed two key committees one of which is Executive Committee and another is the Board Audit Committee.
Executive Committee:
The Executive Committee companies of 12 Members. The Committee takes decision the routine and operational matters, ensure implementation of policies, approves investments and other business proposal beyond delegated power of management.
Audit Committee:
The Board Audit Committee consists of members including an Independent Director. The Committee carries out business according to guidelines of the Bangladesh Bank. The inspection reports on the affairs of the branches as well as Head office are presented before the committee for perusal. The summery of inspection reports of Bangladesh Bank audit team are also placed before the committee. The Director keeps regular vigilance on the banking activities through the audit committee in order to ensure better internal control system. A report regarding compliance of the corporate governance guidelines of Securities and Exchange Commission is attached at Annexure I, II, and III & IV.
Mr. Sirajul Haque Miah Mr. Md. Fazlur Rahman Mr. Khondoker Rumy Ehsanul Huq Mr. Mohd Alamgir Mr. Khondoker Nayeemul Kabir Mr. Sheikh Moyeen Uddin
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Executive Officer Senior Principal Officer Mgt Trainee Officers Junior Officer Officer Trainee Office Casual
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branch-banking services to its valued customers and our customers are currently enjoying any-branch-banking facility through our network of 44 branches. The second phase started from the middle of last year. In this phase, Bank has procured a centralized Shariah based Core Banking Software - Temenos T24. Temenos is a Switzerland based software company devoted for developing software for the banking and financial institutions. Its software is reportedly running in more than 445 banks and financial institutions around the globe. The bank has already completed the construction of a centralized Data Center with all modern equipments and devices at Dhanmondi Tower, Dhanmondi. Procurement of hardware and other related software has been completed. A team of 20 members of executives and officers have been trained on the implementation of the Core Banking Software from Chennai, India. This team is now working on the implementation process of the banking software. After having successfully completed the necessary customization and UAT, the new centralized Core Banking System (CBS) will be initially implemented in three branches and Head office of the bank by October 2008. Then the CBS will be gradually rolled out all other branches. In the 3rd phase of Banks IT strategic plan, incorporation of different electronic delivery Channels like ATM, POS, Internet banking, mobile banking etc. will be done in the year
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2009. After completion of the 3rd phase, the bank is expected to become a technologically advanced financial service provider - centralizing its information collection, processing, storage and dissemination with a prime objective to ensure cost effective banking services for maximizing the customers satisfaction through state of the art technology. This will enable the Bank to deliver a leap in efficiency towards cost leadership.
2.11
Branch Expansion
During 2008 Bank has opened 09 (Nine) new branches at different commercially important location of the country and, thus, the total number of branches raised to 42 (Forty Two). Out of total 44 branches, 44 are located at the prime business centre of urban areas and remaining 09 branches are at rural areas of the country. The following branches were opened during the calendar year 2008. Sl. No. 01. 02. 03. 04. 05. 06 07 08 09 Opening Date 03.11.2008 29.01.2008 19.08.2008 05.01.2008 18.08.2008 05.11.2008 28.07.2008 17.12.2008 21.12.2008
Name of the Branch Corporate Branch, Gulshan-1 Pahartali Rajshahi Khulna Kushtia Golapgonj Muddaffargonj Chhagalnaiya Naria
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2.12
Effective and efficient management of Assets and Liabilities is one of the major constraints of progressive banking. Export Import Bank of Bangladesh Limited has a well organized Asset Liability Management Desk under direct supervision of a well formed ALCO. ALM desk prepares different sorts of reports and interprets the results/outcomes of different financial and technical analysis. ALCO goes through these reports and takes all necessary actions to cope up with the situations at hand so that the Banks profit is maximized. Balance sheet risk is the risk most intently connected with the Banks profitability. The Balance Sheet risk is defined as potential change in earnings due to change in the rate of profit, foreign exchange rates which are not of trading nature. On the other hand, liquidity risk can be defined as the risk or chance of failure to meet up any withdrawal/disbursement request by a counter party/customer. The ALCO of EXIM Bank reviews liquidity requirement of the Bank, the maturity of assets and liabilities, deposit and lending pricing strategy and the liquidity contingency plan. The primary objective of the ALCO is to monitor and avert significant volatility in Net Profit Income (NPI), investment value and exchange earnings. Owing to the excellent management of assets and liabilities the Bank is growing smoothly and steadily. 25
Financial Institute:
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The bank achieved significant progress through continuous growth in all the areas of banking operations in the year under review. It has successfully mobilized TK. 57,586.99 million deposits from depositors and increased its investment (General) to Tk. 53,637.68 million as on 31st December 2008 through its 44 branches. The total income and expenditure of the bank were TK 8356.82 million and TK 5838.43 million respectively during period under review. It earns and operating profit of TK.2518.39 million with an annual growth rate 31.98% over that of the previous year. The return on Assets (ROA) after tax was 1.38%.
Credit:
The credit risk management department is assisted by the credit division which is mainly concern with the post approval function of the division. Duties and responsibilities of credit division are too focused on documentation, sitting the limit of system, monitoring and credit products. Credit Division ensures that no transaction is booked under expired limits online of credit accounts where security documentation or collateral have not been perfected.
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Exim Human Resources Division is in constant pursuit of providing for the optimum benefits and career support to its personnel through scores of mechanisms it has fashioned Exim Bank recreation a welfare center, Exim Bank foundation, and the library at the Training Institute, best performance Awards and so on
Corporate Finance. Industrial Finance. Lease Finance. Hire Purchase Finance. Commercial Investment. Real Estate Finance. Mode of Investment: o o o o o o Murabaha. Bai Muazzal. Izara Bill Baia. Wazirat Bil Wakale Local Documentary Bill purchased(LDBP) Foreign Documentary Bill purchased(FDBP)
Saving Scheme:
o Monthly Saving Scheme (Money Grower) o Monthly Saving Scheme (Money Grower) o Monthly The Deposit in years (SSS)
E- Cash/ ATM Service: The Bank is currently providing Credit Card Service
(master card) to the Privileged Mars of the bank in collaboration with Prime Bank, Floating VISA Card it & credit card Service is under Process. SME Banking: SME Sector Can Play a vital role in National Economy and Social Development Through Creation of New Entry Prize and poverty alleviation , Exim Bank Started its operation by opening two SME Service Centre at Board Bazar, Gazipur and Sitakunda Chittagong. o EXIM Uddyog o EXIM Abalamban o Agricultural Banking In line with Mandatory Provision of Bangladesh Bank for Agricultural Investment, Exim Bank has already introduced an agriculture product named as Exim Buniyad, It is short term Rural investment program under agriculture investment scheme.
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professional Excellency. But our main focus is for obvious reason, on export and import trade handling and development patronization of private sectors.
Chapter Three
Activities of HR Department
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Human resource management is The policies and practices involved in carrying out the People or human resource aspects of a management position, including recruiting, screening, training, rewarding and appraising.
3.4 Recruitment
Recruitment is the process of finding and attracting qualified or suitable applicants to fill vacancies. Recruitment is a linking process in that it tries to bring together job seekers and employees with jobs. It is a joining process in that it tries to bring together job seekers and employer with a view to encouraging the former to apply for a job to the letter. The objective of recruitment is to develop a group of potentially qualified people. To this end, the organization must project the position in such a way that job seekers respond. Exim bank Ltd. believes in the o Process of attracting qualified job applicants. o Strategic recruitment involves the appropriate use of internal and external sources. o The process of finding and attempting to attract job candidates who are capable of effectively filling job vacancies.
Internal Recruitment
Internal recruitment is the process of finding internal candidates and encouraging them to apply for and be willing to accept organizational jobs opening. It includes the of following things Promotion Demotion. Transfer Separation. 32
External Recruitment: External recruitment is the process of finding potential external candidates and encouraging them to apply for and be willing to accept the organizational job openings. It includes the following things Employee Referral. Advertisement. Employment agencies. Temporary help services. Walk INS. Professional organization.
B) Physical Fitness: No person will be appointed in the service of Bank unless he/she is declared physically fit by a competent medical authority of the bank, on
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2. Candidates securing the 1st class in masters degree / MBA / MBM with CGPA 3.00 or above in any of the subjects appointed by the competent authority for recruitment of MTO may be appointed after VIVA / VOCE / Interview with out written test if they are sound and suitable.
3rd division 1 1 1 1
3.6 Selection
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Selection is a process hiring suitable people for job. Right man for right job is the main goal of selection. Hiring good people is particularly challenging in technology-based organization because they require a unique brand of technical and professional people. They have to be smart and able to survive in the demanding cultures of todays dynamic organizations. In addition, many of these qualified individuals are in short supply and are able to go, wherever they like once applicants have been identified, HRM must carefully screen final candidates to ensure they fit well into the organizations culture. They realities of organizational life today may focus an on informal, team spirited work place one in which intense pressure to complete project quickly and on time is critical and 24/7(24 hours a day a week) work mentality dominated, selection tools used by HRM need to elect out people that arent team players and cant handle ambiguity and stress.
Initial Screening:
The process starts with initial screening choosing from the CVs that fulfill the specific requirements. After a vacancy is announced and CVs are already collected from different source, the Bank starts the initial screening process .then called for written test.
The written test is taken mostly to check the candidates knowledge in the subject matter for which he is to be taken and also to check his written/communication skill for MTO position the bank seeks professional service of institute of Business administration, university of Dhaka IBA conducts the written test which includes preparing question paper arranging the logistic support needed for the test scrutinizing
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the answer papers etc. After preparation of the result sheet IBA sends the passing candidates list to the bank.
For the post of trainee assistant officer IT the Bank Uses these test to assure actual performance of the job candidates work sample tests require the applicant to perform tasks that are actually a part of work required on the job. The test is carefully constructed by the IT division to include the major job function.
Interview:
For entry level positions the next stepes of the process is the comprehensive interview that is usually conducted by a panel comprising of the Managing Director, Deputy Managing Director, Additional Managing Director and the Head of Human resource division. The interviews are always unstructured for any appointment letter up to Additional Managing Director, non management and all contractual employees, if not any other person is authorized for special reason. Background investigation is mostly done for the experienced candidate is another important check the employer undertakes. It includes talking to colleagues, the references former employer to make sure whether the information given by the candidate is true.
Pre-Joining Documentation:
The following documentation are obtained from the candidate prior to his joining officials from HRD are responsible for collecting the following documents. o Five Year Bond on part of the MTO. o Medical report from Designated Hospital. o Verification of all Certificates. o Copy of last educational and where applicable professional certificates. o Filled up setup papers (Service Records, Declaration of fidelity employees profile.
Probation Period:
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Those employees who do not here a previous banking experience have to serve a probation period for at least one year before getting confirmation as a full time employee. Those who have previous experience and not necessarily need to be trained do not go through the probation period. Sometimes the selected employee has not submitted a bond that, she/he will not leave the organization.
Appointment:
After finishing all the selection procedures duly approved by the Managing Director or Board the Appointment offer consists of joining open period, particulars of salary, position etc. with the employment offer the required documents and pre-medical tests report are asked by the HR to bring in the day of joining.
Confirmation:
On satisfactory completion of probationary period and recommendation by the functional head the incumbent will be confirmed as the permanent employees of Exim Bank.
Termination:
If any employee are out of the job in some cases is called termination. There are certain circumstances where-even through complaint is within jurisdiction the bank can dismiss him without considering its merits. This is some time called early termination.
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Dismissal:
An employee will be dismissed from the bank service if he or she is guilty of misconduct or whatsoever according to the report of the enquiry committee the concerned dismissed employee will get only the own contribution of his/her provident fund.
Off the job Training: Classroom Lecture: Exim Bank Ltd. arranges the lecture of conference approach for conveying specific information, roles, procedure or method. Films: Exim Bank Ltd. arranged motion pictures as for useful training techniques.
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Simulation Exercise: This bank believes any training activity that explicitly places the trainee in an artificial environment that closely mirror actual working conditions can be considered a simulation. Experimental Exercise: Exim Bank Ltd. Says, experimental exercise are usually short structure learning experience where individuals learn by doing. Vestibule Training: Exim Bank Ltd. Arranges vestibule training by that employees learn their job on the equipment they will be using but the training is conducted away from the actual work floor
There are two types of training uses Exim Bank Ltd. Individual Career Development Identifying and Organization. Conversion into General Fields and Specific Goal. Testing Against the Realities
c. Workers Development:
Coaching. Under Study. Committee Assignment. Group Assignment
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One goal of a compensation system is to motivate employees, yet there is tremendous variation in the value different individuals attach to a specific reward or package of rewards. Further, an individuals values also may change over time. Compensation Indirec consists of many elements in addition to pay for time worked these system Direct t compe components must be coordinated to work together.
compe nsation nsation
Protection Employee compensation is a major cost of doing business up - to 80 percent for service firms pay Program determine the competitiveness of a firms product as service. Services and can *Bonus Medical Pay to time Recruitment Defered pay *Commissio Insurance no worked on facilities *Savings n * Life The cost ofVacations various * Car living tremendous in different geographic areas, an important *Stock Insurance. Merit Pay Place rate Base consideration*for firms with*multiple locations. Pay Holidays Financial Purchase * Disability Profit * Sick Leave Planning *Annuity. income sharing * Jury Duty * Low cost of * Pension Stock option free meals. * Social Sift Security
Incentive
Differential
Salary
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Wages
Right payment for right works, monthly payment, rewards these are the compensation principle of the organization compensation. Administrative relative to the following things:
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Performance appraisal system is the tool by which we measure the performance of and individuals and identity the gaps and plan future development in order to enable a better feet between the jobs and the incumbent organizations require consistent levels of high performance from their employee in order to survive in a highly competitive environment, performance refers to an employees accomplishment of assigned tasks. Performance meaning do a job effectively and efficiently. PA is a process of evaluating an employees performance of a job in terms of its requirements. It provides the basis for assessment of employee contribution, coaching for improved performance and distribution of economic rewards. It refers to the outcome of the behavior of employees. This performance appraisal means deciding the value of word done by an individual. It is a process by which organizations evaluate individual job performance.
3.13 Method of PA
Method of PA
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Once performance standards are set, it is necessary to communicate these expectations, it should not be part of the employees job to guess what is expected of them. Employees can be involved in setting standards. It is important to note the communication is a two way street: mere transference of information from the supervisor to the employees regarding expectation is not communication. To make communication effective, feedback is necessary from the subordinates to the manager.
The next stapes in the appraisal performance is the measurement of performance. To determine, what actual performance is, it is necessary to acquire information about it. We should be concerned with how we measure and what we measure. Four common sources of performance:Personal Observation. Statistical Reports. Oral Reports. Written Reports.
The fourth step is the comparison of actual performance with standards. The point of this step is to note deviations between standard performances and actual performance so that we can proceed to the fifth step in the process - the discussion of the appraisal with the employees.
A necessary requirement of the appraisal process is employee feedback through an evaluation interview. Evaluation interview are performance review sessions that give employees essential feedback about their past performance or future potential. Without feedback, improvement in human behavior is not likely and HR department will not have accurate records in its HR Information System on which to base decisions ranging have accurate records in its HR information system on which to base decisions ranging from job design to compensation. The evaluator may provide this feedback through several approaches: tell and sell, tell and listen and problem solving. Managers must create a supportive environment to put employee at case. Presenting an accurate assessment to the employee is challenging tasks.
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The final step in the appraisal is the identification of corrective action where necessary. Corrective actions can be of two types: One is immediate and deals with symptoms, and the other is basic, which deals with causes. Here we mention the following bases of promotion are used in this organization Seniority, loyalty, Seniority and Performance, Efficiency, Seniority and Efficiency. This organization have career counseling program. This senior member of this organization play mentoring role to guide juniors in building their career. Communication is the bridge it is the principle of the organization.
There are some methods used in Communication. Which are mention here: Notice Board Staff Briefing. The Suggestion program. Magazines and News Letter. Presentation.
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Chapter Four
My position
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The working environment place of Exim Bank Limited is very much friendly. Every personnel of the HR Division was very much busy but they always tried to help me from their experience. In this organization there are three HRD functions. Those are Acquisition function of HDR, Motivation Function of HRD, Maintenance function of HRD. Human Resource Planning is the process by which an organization ensures that it has the right number and kinds of people, at right place, at right time capable of effectively and efficiently completing those tasks that will help the organization achieve its overall objectives. Exim bank ltd. works for the development of its executives or potential executives in order to enable them to be more effective in performing the various functions of management.
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Chapter Five
SOWT Analysis
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Open HR Manual: The Human Resource Manual of Exim Bank is open for its entire employees giving total understanding of the terms and condition of the organization to its entire employees to assists the benefits and growth they can ever achieve and the role of Human Resource Department with all other divisions of the organization .This HR manual is uploaded in the internal website of Exim Bank Limited. Empowered Work Force: The Human Resource of Exim Bank is exactly well thought and perfectly managed. As from the very first, top management believed in empowered employees, where they refused to put their finger in every part of the pie. These employees are not suffocated with authority but are able to grow as the organization matures. Strong Bonding and Belongingness: Exim Bank employees are one of the major assets. The employees of Exim Bank have a strong sense of commitment toward organization and also feel proud and a sense of belonging towards Exim Bank Limited. This strong organizational culture of Exim Bank is a main strength of the organization. Information Technology: Online banking e-mail and personal computer for all employees enabled the employees work easier and faster with full of professionalism. All kinds of benefits, salaries monetary rewards are directly given to employees bank account through flex cube. Different Staff Loans: There is a set of staff loans in Exim Bank which increase the employees satisfaction in terms of monetary which enabled them to work more stress free and put dedication. Employee Evaluation: Employee evaluation process by Human Resource Division became strength for its fair judgment and put trust among the employees of other department on HR Department. Centralized Banking: Centralized Banking means the core function of business coordinated by the head office which gives an immense effect for reducing the internal conflicts among the branches and the head office.
5.2 Weaknesses
Job Description: Job Description is a necessary accomplishment should have for each position for recruiting the most suitable candidate on the basis of skill and experience required. Still hundred percent job description is not prepared by the HR Division.
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HR Accounting: Human Resources Accounting is a strong tool for matching the benefits of each new recruitment done in the organization, calculation, turnover etc. HR Division of Exim Bank has not yet established this practice. Compensation and Benefits: Compensation and Benefits of Exim Banks employees are provided by the HR Division through different software. That software is not flexible to use and have lot of limitations.
6.3 Opportunities
Management Information System: In recent business practices the importance of MIS is unavoidable. Human Resources Department is not out of it. HRD of Exim Bank has a every potential capability to establish new MIS and use it in various manpower reporting Human Resources Information System: Human Resources Information System is a must for a corporate environment like Exim Bank. Exim Bank is going to establish a new HRIS very soon. Research and Development: Though Exim Bank has almost all due capabilities to command extensive research and development activities, yet Exim Bank has done a little in this area. Salary Survey: Exim Bank is going to start its salary survey with the most reputed consultant of Bangladesh for its salary survey. Training and Learning: Training and learning is the core function for making the executives cope with the new scenario and make them update and knowledgeable. Exim bank is going to utilize its fullest capacity and enthusiasm in this regard by publishing a library, arranging extensive element etc. very soon.
5.4 Threats
Competitive Salary and Turnover: The salary package of Exim Bank is not as competitive as the market demands, so the turnover of manpower is increasing day by day. New/Multinational Companies/Bank Policy: New multinational company and bank policy is a threat to Exim bank in respect of increasing the salary expectation of the employees and new HR practices that turning the existing employees dissatisfied.
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Chapter Six
Findings of the Study
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Chapter - Seven
Conclusion & Recommendation
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8.1 Conclusion
Lot of new commercial bank have been established in last few years and these banks have made this sector very competitive. So new banks have to organize their operations according to the need of the market. Banking sectors no more depends on a traditional method of banking. In this competitive world, this sector has trenched its wings wide enough to cover any kind of financial service anywhere in this world. The major task for banks to survive in this competitive environment is by managing its assets and liabilities in an efficient way. This report has tried to present the HR practices in Exim Bank ltd. in comparison to its closet competitor in the same industry. From the analysis we found the HRD system is a very satisfactory one. There is something problem with Human Resources Department. If the entire HRD system is not fully computerized then they cannot easily complete their recruitment process by short span of time. Due to lack of established networking system with their branches, then it can not easily transfer data within short time. So the HR department should be given the proper training to the employees by regular basis. Performance evaluation of employees is not done properly. Top management handles the recruitment process and they have the power to fire anybody in ant time.
8.2 Recommendations
As I have gone through all the departments under Human Resources Management, I have come up with some points, which can improve the efficiency as well as quality of the work. Though the bank was found as a productive concern, the study reveals that the bank could do much more if it was handled more efficiently. However, some steps may be taken to improve the efficiency and to increase the performance of the bank in future which are given below-
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Setting proper planning for each and every work as well as for the whole department Designing jobs on priority basis Assigning necessary manpower for every job The bank should develop their communication process between branches Proper managerial observation and cooperation is required Improve the knowledge of the system through training Avoiding duplication of work through better communication Developing motivational program And most all change of managerial attitude and view point For the selection of the industrial projects proper study should be conducted in time properly The bank should increase the total number of trained employee year by year. The bank should also introduce gain-sharing approaches to motivate its employees. Non-monetary incentives might be a great motivation for the officers and service workers. The bank does not have any practice of Human Resource Survey, which is a negative point for the banks Administrative Department. Therefore, this practice should be introduced to the banks HRM policies. The bank may provide insurance benefits (especially health-related and life insurance) to the employees as an additional motivating factor. At present, the bank does not have any systematic practice of employee counseling. Such a practice might be beneficial to the employees.
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References
Books
1. Decenzo A david & Robbin P. Stephen & Sons Wiley Johe, Human Resource management, Inc, Singapur, Copyright 2003. 2. Khan Gary Abdul, Human Resource management & Industrial Relations, Abir Publication, 1st edition.
Report
Exim Bank Annual Report, 2008. Internship Report of Exim Bank, 2008
Others
Manual of Exim Bank Prospectus of Exim Bank
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Website
www.eximbankbd.com 15/05/2010, 18/05/2010, 27/05/2010. www.humanresourcesmanagement.com 18/05/2010, 27/05/2010.
Appendix
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