An Assignment On

HR CONSULTENCY FIRMS OPERATING IN BANGLADESH

Submitted to:
Md. Muzahidul Islam Lecturer, Department of Management Studies Patuakhali Science and Technology University Dumki, Patuakhali.

Submitted by:
MD.MAHAMUDUL HASAN Roll No: 05 Reg. No: 01529 Level:II, Semester: II
BBA Program Faculty of B.A.M

Patuakhali Science and Technology University Dumki, Patuakhali.

Human Resource Management

Human resource management (HRM) is the strategic and coherent approach to the management of an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business.[1] The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations. [1] In simple sense, HRM means employing people, developing their capacities, utilizing, maintaining and compensating their services in tune with the job and organizational requirement.

Features
Its features include:

Organizational management Personnel administration Manpower management Industrial management

But these traditional expressions are becoming less common for the theoretical discipline. Sometimes even employee and industrial relations are confusingly listed as synonyms,[4] although these normally refer to the relationship between management and workers and the behavior of workers in companies. The theoretical discipline is based primarily on the assumption that employees are individuals with varying goals and needs, and as such should not be thought of as basic business resources, such as trucks and filing cabinets. The field takes a positive view of workers, assuming that virtually all wish to contribute to the enterprise productively, and that the main obstacles to their endeavors are lack of knowledge, insufficient training, and failures of process. Human Resource Management(HRM) is seen by practitioners in the field as a more innovative view of workplace management than the traditional approach. Its techniques force the managers of an enterprise to express their goals with specificity so that they can be understood and undertaken by the workforce, and to provide the resources needed for them to successfully accomplish their assignments. As such, HRM techniques, when properly practiced, are expressive of the goals and operating practices of the enterprise overall. HRM is also seen by many to have a key role in risk reduction within organizations.

a series of activities which: first enable working people and their employing organisations to agree about the objectives and nature of their working relationship and, secondly, ensures that the agreement is fulfilled" (p. 49). While Miller (1987) suggests that HRM relates to: ".......those decisions and actions which concern the management of employees at all levels in the business and which are related to the implementation of strategies directed towards creating and sustaining competitive advantage" (p. 352).

Academic Theory
The goal of human resource management is to help an organization to meet strategic goals by attracting, and maintaining employees and also to manage them effectively. The key word here perhaps is "fit", i.e. a HRM approach seeks to ensure a fit between the management of an organization's employees, and the overall strategic direction of the company (Miller, 1989). The basic premise of the academic theory of HRM is that humans are not machines, therefore we need to have an interdisciplinary examination of people in the workplace. Fields such as psychology, industrial relations, industrial engineering, sociology, economics, and critical theories: postmodernism, post-structuralism play a major role. Many colleges and universities offer bachelor and master degrees in Human Resources Management or in Human Resources and Industrial Relations. One widely used scheme to describe the role of HRM, developed by Dave Ulrich, defines 4 fields for the HRM function

Strategic business partner Change management Employee champion Administration

However, many HR functions these days struggle to get beyond the roles of administration and employee champion, and are seen rather as reactive than strategically proactive partners for the top management. In addition, HR organizations also have the difficulty in proving how their activities and processes add value to the company. Only in the recent years HR scholars and HR professionals are focusing to develop models that can measure if HR adds value.

Business Practice
Human resources management comprises several processes. Together they are supposed to achieve the above mentioned goal. These processes can be performed in an HR department, but some tasks can also be outsourced or performed by linemanagers or other departments. When effectively integrated they provide significant economic benefit to the company.

Workforce planning Recruitment (sometimes separated into attraction and selection) Induction, Orientation and Onboarding Skills management Training and development Personnel administration Compensation in wage or salary Time management Travel management (sometimes assigned to accounting rather than HRM) Payroll (sometimes assigned to accounting rather than HRM) Employee benefits administration Personnel cost planning Performance appraisal Labor relations

HRM Strategy
An HRM strategy pertains to the means as to how to implement the specific functions of HRM. An organisation's HR function may possess recruitment and selection policies, disciplinary procedures, reward/recognition policies, an HR plan, or learning and development policies, however all of these functional areas of HRM need to be aligned and correlated, in order to correspond with the overall business strategy. An HRM strategy thus is an overall plan, concerning the implementation of specific HRM functional areas. An HRM strategy typically consists of the following factors:

"Best fit" and "best practice" - meaning that there is correlation between the HRM strategy and the overall corporate strategy. As HRM as a field seeks to manage human resources in order to achieve properly organisational goals, an organisation's HRM strategy seeks to accomplish such management by applying a firm's personnel needs with the goals/objectives of the organisation. As an example, a firm selling cars could have a corporate strategy of increasing car sales by 10% over a five year period. Accordingly, the HRM strategy would seek to facilitate how exactly to manage personnel in order to achieve the 10% figure. Specific HRM functions, such as recruitment and selection, reward/recognition, an HR plan, or learning and development policies, would be tailored to achieve the corporate objectives. Close co-operation (at least in theory) between HR and the top/senior management, in the development of the corporate strategy. Theoretically, a senior HR representative should be present when an organisation's corporate objectives are devised. This is so, since it is a firm's personnel who actually construct a good, or provide a service. The personnel's proper management is vital in the firm being successful, or even existing as a going concern. Thus, HR can be seen as one of the critical departments within the functional area of an organisation. Continual monitoring of the strategy, via employee feedback, surveys, etc.

The implementation of an HR strategy is not always required, and may depend on a number of factors, namely the size of the firm, the organisational culture within the firm or the industry that the firm operates in. An HRM strategy can be divided, in general, into two facets - the people strategy and the HR functional strategy. The people strategy pertains to the point listed in the first paragraph, namely the careful correlation of HRM policies/actions to attain the goals laid down in the corporate strategy. The HR functional strategy relates to the policies employed within the HR functional area itself, regarding the management of persons internal to it, to ensure its own departmental goals are met.

Careers and Education

Several universities offer programs of study pertaining to HRM and broader fields. Cornell University created the world's first school for college-level study in HRM (ILR School).[9] University of Illinois at Urbana-Champaign also now has a school dedicated to the study of HRM, while several business schools also house a center or department dedicated to such studies; e.g., University of Minnesota, Michigan State University, Ohio State University, and Purdue University.

There are both generalist and specialist HRM jobs. There are careers involved with employment, recruitment and placement and these are usually conducted by interviewers, EEO (Equal Employment Opportunity) specialists or college recruiters. Training and development specialism is often conducted by trainers and orientation specialists. Compensation and benefits tasks are handled by compensation analysts, salary administrators, and benefits administrators.

Professional Organizations
Professional organizations in HRM include the Society for Human Resource Management, the Australian Human Resources Institute (AHRI), the Chartered Institute of Personnel and Development (CIPD), the International Public Management Association for HR (IPMA-HR), Management Association of Nepal (MAN) and the International Personnel Management Association of Canada (IPMA-Canada), Human Capital Institute (HCI)

Functions
The Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. Usually small businesses (for-profit or nonprofit) have to carry out these activities themselves because they can't yet afford part- or full-time help. However, they should always ensure that employees haveand are aware ofpersonnel policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have. Note that some people distinguish a difference between HRM (a major management activity) and HRD (Human Resource Development, a profession). Those people might include HRM in HRD, explaining that HRD includes the broader range of activities to develop personnel inside of organizations, including, e.g., career development, training, organization development, etc. There is a long-standing argument about where HR-related functions should be organized into large organizations, e.g., "should HR be in the Organization Development department or the other way around?"

The HRM function and HRD profession have undergone tremendous change over the past 2030 years. Many years ago, large organizations looked to the "Personnel Department," mostly to manage the paperwork around hiring and paying people. More recently, organizations consider the "HR Department" as playing a major role in staffing, training and helping to manage people so that people and the organization are performing at maximum capability in a highly fulfilling manner.

Human Resource Consulting

Human resource consulting is a $18.4 billion industry [1] that has emerged from management consulting, as clients' needs have become more complex and specialized, widening the gap between HR needs and work force capabilities, and thus accentuating the ability of HR management consulting firms to fill this gap. [2] While the multi-faceted nature of business sometimes causes overlap in consulting industries (i.e., with regards to human resources, general management, and information technology), the following are core fields around which most HR consultancies are based:

Human Capital, including remuneration (also called total rewards), employee rewards and incentive programs, and talent acquisition and management Health & Benefits; i.e., orchestrating optimal employee health plans with the carriers themselves Mergers & Acquisitions, examining fit across culture, job-type, transaction costs, etc. Communication, including surveying employee attitudes, satisfaction, engagement, and other employee behaviors Retirement Outsourcing

Services may also include legal counseling, global initiatives, investments consulting, and the implementation of HR technologies to facilitate human capital management. The HR consulting industry also employs more actuaries than any other in order to assist in their services.

Companies in the Field

HR consultancies vary in their ranges of services and sizes, with many consultants and academicians breaking off to form their own practices. A 2007 Workforce Management study identifies the top five revenue producing HR consultancies as Mercer ($2.4 billion), Deloitte ($1.6 billion), Watson Wyatt ($1.4 billion), Aon ($1.3 billion), and PricewaterhouseCoopers ($1.1 billion). Other major players include Towers Watson, Hewitt Associates, Hay Group,[1] and Buck Consultants.

Qualifications and Certifications

Many human resource consultants have specialized qualifications or certifications, such as:

Accountancy: ACCA, CA, CPA, CCA Actuarial: EA, ASA, FSA, MAAA, FIA, FFA Educational: MS in Management/HR/Industrial psychology, MBA, Ph.D. in Management, DBA, J.D. Finance: CFA General consulting: CMC Health and benefits: CEBS, CCP, CBP Human resources: Various certifications SHRM (US) CHRP (Canada) (e.g. PHR, SPHR, GPHR); MCIPD Organizational

HUMAN RESOURCE CONSULTACNY FIRM OPERATING IN BANGLADESH

1. HR Sollution
114 Banani, Block-C, Road # 15, Dhaka-1213, Bangladesh. E-Mail: info@hrsolutionsus.com

2. Eduext
1/1 -B, Block-C (2nd Floor), Lalmatia, Dhaka 1207, Bangladesh. Land Phone: 880-2-9131800, Hotline: 018-2229-3337 Mobile: 017-4589-8558, 011-9087-9565 Email: info@eduext.com

HR Solutions Limited is a Private Limited Company registered with Join Stock Companies of Bangladesh. HR Solution is a service-driven professional HR Management company providing services for its clients including, but not limited to, leading Mobile Operators, Financial Institutions, FMCG and Multinationals. HR Solutions specializes in the placing of mid to upper level Professionals. In addition, we help our clients improve operations by taking on routine HR tasks such as appraisal systems development, payroll, HR & Management Operational Manual and benefits administration as well as conducting Management Training, and providing Management Consulting. Office:Our motto, "we match the best professional with the best possible Jobs" which was adopted based on feedback we from our and our 114received Banani, Block-C, Roadclients # 15, Dhaka1213, Bangladesh. candidates regarding our services.
E-Mail: info@hrsolutionsus.com

To create an outstanding company, you need outstanding people. The majority of our clients are progressive Fortune 100 companies in need of the most qualified candidates. With our extensive resume database and proprietary screening methods, we match a candidate's expertise and interests with the appropriate company and position. Whether it is the talented young upstart 2 years out of university or the seasoned executive with 25 years of experience, we have the right candidate for you company.

About Eduext
Eduext means Education Next. We now live in Knowledge Based world. We have to sharpen our axe or refresh our skills constantly to keep pace with the challenging and changing world. Merely academic certificate will not fully serve the purpose. We aim at developing our human resource at home and abroad to take the challenge ahead to face the next century technology. We want our people to acquire employable skill at affordable fees but with maximum authentic benefit. Eduext deals with Human Resource Development through effective and customized training programs. Our clients include local and international industries, development organizations, MNCs, Government Organizations and NGOs.

What We Do

Education| Training| HR Consulting| HRD Research

Customized Training Programme for individual and corporate Certification courses on English, Leadership, Management & Sales skills. Career Counseling for fresh graduates

Foreign education support

Why Eduext

Authentic counseling and advice Best service team in the market Customer focused training program Best trainers and consultant in the country Cost effective but result oriented performance From your need to fulfillment-all the way with you

Our Vision:
Business with Integrity and Diversity

Our Mission:
Enriching our country by empowering our people

Our Values:
Taking care of our peoples need for a long lasting relationship

Contact

Bangladesh Regional Office

1/1 -B, Block-C (2nd Floor), Lalmatia, Dhaka 1207, Bangladesh. Land Phone: 880-2-9131800, Hotline: 018-2229-3337 Mobile: 017-4589-8558, 0119087-9565 Email: info@eduext.com

UK Regional Office Mr. Saif Rahman ( UK Higher Education Consultant ) Eduext, London Corporate House 221 Grove Road Bow Wharf. Unit 24 London E3 5SN Land Phone: +4402089815001 Hotline: +4407890080645 Email: saif.rahman@eduext.com

Consultants
Moinuddin Chowdhury

Director (HRD) & Lead Consultant M.A (English), MIT (London)

Mr. Moin is the professional and passionate human resource development personnel. He attended many national and international training courses and workshops at home and abroad. His professional attachment includes ILO, EU, USAID, Future Leaders, Katalyst and World Fish Centre affiliated and funded organizations, Ascent Group and Scholastica Private Limited with key leadership and managerial role. He has planned, designed, developed and presented a day long workshop on Leadership and Management Skills Development for Apex Group on behalf of International Labour Organization (ILO) TVET Reform Project at Work place Learning and Productivity component as a Consultant. He coordinated some special training programmes like Teambuilding at Work conducted at Bata Shoe Ltd. Effective Motivation Techniques at Work and Improvement on Productivity on behalf of ILO as Team Leader. He is an Adjunct Faculty of Independent University of Bangladesh (IUB) in the Department of English. He also works as Consultant and Team Leader (Corporate Training) for JOBSBD.LEARNING under Daffodil International University (DIU). He has already spent more than a decade with corporate human resource management and development locally and globally. He believes in Together we are stronger. He has international and national exposure in his training, coaching, facilitating and learning approach. He is a member of HRD Program of University of Houston, member of Human

Resources Boosters, life Member of BELTA (Bangladesh English Language Teachers Association), Member of BCS (Bangladesh Computer Society), Fellow BSHRM (Bangladesh Society for Human Resource Management) , Fellow of Society for Leadership Skills Development (SLSD) and life Member of NGS (National Geographic Society). He enjoys reading books, social work for social welfare and playing with his cute little daughter. His special areas of interest are Leadership & Management Skills, ESOL (English for Speakers of Other Languages) with special focus on Business Communication, Competency Based Training (CBT) and Social Compliance such as SA 8000, BSCI, ISO 26000, ETI and WRAP.

Md. Abdul Munim

Consultant & Resource Person ( HRM ) MBA, PD (HRM)

Mr. Munim, a young and enthusiastic, replete with leadership and high level of professional approach started his career journey with Rangs Industries Ltd. in 2002 and won the top target achievement award in sales in 2002 but his keen interest remains focused on to develop his career in Human Resource Development. He changed his career track and joined the Midwest Missouri University (Bangladesh Study & Exam Center) as a Program Coordinator. He worked for Ascent Group (former Scholastica Group) to look after their Teachers Training Program by dint of his excellent managerial and leadership skills. Currently, he is working as Manager, Human Resources for Bashundhara Group. Throughout his career, he has demonstrated a knack towards professional development. He has successfully completed Professional Diploma in Human Resource Management (PDHRM), under Ed-excel syllabus and curriculum from Bangladesh Institute of Management Studies, to strengthen his concepts of HR and Management issues. He is doing his LLB to widen his knowledge in legal issues. He has attended a number of workshops and seminars on Human Resource Development. His areas of interest are Strategic HR Planning, Recruitment & Selection, Training & Development, Performance Management and Labour Law. He enjoys playing cricket, badminton, doing volunteer social work, traveling and hanging out with friends.

Khondoker Mohammad Shamim Hayder

Consultant & Resource Person MBA (HRM and Marketing) BSc in Computer Science and Engineering

He is one of the true professionals and passionate human resource development personnel. He attended numerous national training courses and workshops in Bangladesh. He has enriched his professional expertise in attachment with British American Tobacco Bangladesh, Ascent Group, Imagine Technology Ltd., S.P.E.E.D (Pvt.) Ltd., Scholastica Private Limited, TECHTUNES.com.bd and, IELTSBD.com with key leadership and managerial role before taking the leadership of Eduext Limited. He is part of planning, design, development and presentation of a wide number of workshops like Interpersonal Skills for Office Communication , Effective IT skills for smooth business operations , Training & Learning Needs Analysis (TNA & LNA) , Effective HR & Administration Techniques, Effective decision making tools, Customer Care and Services Techniques, Proper use of

logistics at work. He also coordinates some special IT training programmes like Excel for Manager, PowerPoint for Effective Business Presentation, Excel Formula & Functions for Modern Executives. He has already spent near about half a decade with corporate human resource management and development in Bangladesh. He has global exposure in his training, coaching, facilitating and learning approach. He is a member of BCS ( Bangladesh Computer Society ) and Fellow of Society for Leadership Skills Development (SLSD). He has published few books on IT. He is fond of reading books, surfing internet, doing social work for social welfare and playing with his cute little daughter. His special areas of interest are Corporate Social Responsibility, Youth Leadership and Management Skills, and free lance journalism and reporting.

Conclusion:
The role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. Organizations that do not put their emphasis on attracting and retaining talents may find themselves in dire consequences, as their competitors may be outplaying them in the strategic employment of their human resources. The new millennium has brought about new challenges for human resources departments and practitioners around the world. These new challenges raise questions about the nature HR practices and the role of HR professionals, and imply new approaches for the HR function in product and service delivery. Organizations recognize the critical importance that human capital means for competitiveness, and ultimately survival in the modern era. In Bangladesh the concept of HR is not very old. But within last 7 to 10 years it is widely practiced and now maximum large company

keeps a department of Human Resource Management. As we move into the 'new economy', the focus on people and knowledge has steadily increased. Today, companies face new challenges in dealing with issues such as the scarcity of talent, the value of ideas/knowledge and the changing preferences of the labour market. Consequently, successful HR strategies are needed more than ever. With the increase in competition, locally or globally, organizations must become more adaptable, resilient, agile, and customer-focused to succeed. And within this change in environment, the HR professional has to evolve to become a strategic partner, an employee sponsor or advocate, and a change mentor within the organization. In order to succeed, HR must be a business driven function with a thorough understanding of the organizations big picture and be able to influence key decisions and policies. In general, the focus of todays HR Manager is on strategic personnel retention and talents development. HR professionals will be coaches, counselors, mentors, and succession planners to help motivate organizations members and their loyalty. The HR manager will also promote and fight for values, ethics, beliefs, and spirituality within their organizations.