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Internship Report on

Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd.

Letter of Transmittal
Date: 16.04.2014 Md. Sajjad Hossain School of Business Administration Uttara University, Dhaka. Subject: Transmitting the internship report on Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd.

Dear Sir, It is my pleasure to submit this internship report on the topic Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd. I have tried my best to analyze all necessary information related to my topic and present as affectionately as possible. It is not impossible that there will be minor mistakes in this report. But still I hope that this report will provide the appropriate analysis on the topic of Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd. In conclusion, I want to express my thanks to you, as without your co-operation it would barely impossible for me to prepare this report related to my subject. If you need any help to interpret anything of this report, please let me inform.

Thanking you Farjana Akther ID: F20911111004 Major: HRM School of Business Administration Program B.B.A.

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Letter of Endorsement
The Internship report entitled Financial Investment to motivate the junior employees of Protection One (Pvt.) Ltd. Has been submitted to the office to fulfillment of the requirement for the degree of Bachelor of Business Administration, Major in Human Resource Management, Faculty of Business Administration on 20th April, 2014 by Farjana Akther, ID: F20911111004. This report has been accepted and may be presented to the Internship Defense Committee for evaluation. (Any opinions, suggestions made in this report are entirely that of the author of the report. The University does not condone nor reject any of these opinions or suggestions).

________________________________ Md. Sajjad Hosain Lecturer School of Business Administration Internship Supervisor

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Acknowledgement
A lot of concentration, effort, responsibility and study have been involved in preparing this paper into reality. In preparing a report one needs a number assistance and guidance from reliable sources. This report also stands on the basis of such efforts. I have pleasure to express my gratitude to the internship and placement committee for arranging such a program from which I have carried a lot of practical experience.

At the very outset, I would like to express my profound respect to my honorable teacher Md. Sajjad Hosain, Lecturer of business faculty, who is my supervisor, of Internship Program designed for the BBA students. His continuous supervision has inspired me to make a more feasible report based on in-depth analysis.

In preparing the report, I received active co-operations from the Marketing Officer, Senior Marketing Officer and HRM department of Protection One (Pvt.) Ltd. I sincerely express my heartfelt gratitude to them for their Co-operation, which helped me to conduct and complete this Report. Those were frankly, dynamic and helped me seriously and given me their valuable time during my internship program. Some time I did interfere in their most important work by asking many questions for my internship purpose and they were very polite and willing to answers my questions with patience.

However, to my best I tried very hard and worked sincerely to prepare this report an informative one. At last, my sincere apology goes to the readers for my conceptual & printing mistake, if there is any.

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Executive Summary
In Bangladesh, the real estate business started in 1964. Ispahani Group was the pioneer in this sector. During 1970s there were fewer than five companies in Bangladesh engaged in this business. But now this is a booming sector of the company. Protection One (Pvt.) Ltd. was started its journey in 1990. Protection One (Pvt.) Ltd is a market leader in the real estate building & development sector. Protection One (Pvt.) Ltd is our environmentally responsible response to the rapid spate of urbanization in Bangladesh. Pressures of urbanization in this country are compounded by the unfavorable land man ration. Protection One (Pvt.) Ltd. has embarked upon a mission to make the maximum use of minimum land being sensitive to both environmental concerns and social continuity.

Planned development by Protection One (Pvt.) Ltd. of the sites around the city has added value to those areas released pressure on inner cities and persecuted the city dwellers with breathing space. Protection One (Pvt.) Ltd. at Corporate Branch has currently 150 employees, including drivers & peons. I have worked as an internship at Protection One (Pvt.) Ltd. Corporate Branch from 05thFebruary 2014. Protection One (Pvt.) Ltd. is a fastest growing housing company in Bangladesh. In 2001, Protection One (Pvt.) Ltd. launched their first land project at Purbail Protection One City. That & project is now under process. Next, Protection One (Pvt.) Ltd has recently launched the mega project at Ashulia, Ashulia Abskash, Ashulia Barnali, & Ashulia Kingdom. Protection One (Pvt.) Ltd. participates on REHAB housing fair two times in a year. In the fair we take a stole for selling the plots. To make the sale successful the corporate office always provides feedback to the local office. We provide the brochures, maps, & other accessories so that the sales team can easily make their sales. Finally Protection One (Pvt.) Ltd. has successfully established itself as one of the leading real estate developments in Bangladesh with reputation for a touch of class & dignity within the reach of all class of people.

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Table of Content
Chapter No.
Letter of Transmittal. Preface. Acknowledgement. Executive Summary.

Title

Page No.
03 04 05 06

Chapter 01
Orientation of the Report

Orientation of the Report 1.1 Background of the Study. 1.2 Methodology. a) Primary source of data. b) Secondary source of data. 1.3 Objective of the Study. 1.4 Scope of the Study.

12-16 12 13 13 14 15 16 16

1.5 Limitation of the Study.

Chapter 02
Introduction

Introduction. 2.1 Introduction of the organization. 2.2 Organizational Overview. 2.3 Vision. 2.4 Mission. 2.5 Features.

18-20 18 18 19 19 20

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Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd. Chapter 03
Strategic goals & objectives

3.1 Services. 3.2 Strategic goals and Objectives.

21 22

Chapter 04
Marketing Overview

Marketing Overview of Protection One (Pvt.) Ltd. Bangladesh. 4.1 Potential Customers. 4.2 Competitors Analysis. a) Management Committee. b) Standing Committee. c) Audit Committee. d) Employment Relations Committee. e) Management Committee.

23-26

23 23 24 24 25 25 26

Chapter 05
Human Resource Management

Human Resource Management. 5.1 Human Resource Planning. 5.2 HR Practices of Protection One (Pvt.) Ltd. Bangladesh.

27-28 27 28

Chapter 06
Recruitment & Selection

Recruitment & Selection process of Protection One (Pvt.) Ltd. Bangladesh. 6.1 Recruitment & Selection. 6.2 Employee Relation. a) Employee safety. b) Employee health. c) Employee working condition.

29-30

29 29 30 30 30

Chapter 07

Job Analysis & Sample of Job Analysis.

31-33

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Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd. Job Analysis 7.1 Job Analysis. 7.2 Sample of Job Analysis a) Quality control manager. b) Cutting Astt. Manager (cum in-charge). c) Environmental Considerations. 31 32 32 33 33

Chapter 08 Job Satisfaction

8.1 Employment Opportunity and Job Satisfaction.


8.2 Things Protection One (Pvt.) Ltd. does to attract top quality employees.

34 35 36 37

8.3 Duration and procedure of leaves at Euro Tech. 8.4 Salary and benefits.

Chapter 08 Incentives

Incentives. 8.1 Individual incentive plans. 8.2 Group incentive plans. 8.3 Company-wide incentive plans. 8.4 Individual incentives plan (Piecework plans). 8.5 Advantages & disadvantages of Incentive Plan.

38-40 38 39 40 40 40

Chapter 09
Training & Employee Development

9.1 Training & Employee Development. 9.2 Management Development Training. 9.3 Overseas Training.

41 42 43

9.4 Field Forces Training & Development.

44

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Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd. 9.5 Field Forces Refresher Course. 45

9.6 Territory Manager Training.

46

9.7 Distribution.

47

Chapter 10
Findings, Recommendation & Conclusion

Findings and Analysis.

48

Recommendation.

49

Conclusion.

50

References.

51

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Orientation of the Report

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1.1 Background of the Study


Real Estate Companies are the key financial institutions that play a vital role in the countrys economy. Globalization in these sectors has thrown up opportunities as well as challenges. Competition is getting edge day by day. It paces with the continuous development occurring in the tremendous competitive environment.

To keep pace with this situation, we need this sector knowledge for future career. If we want to build our career in real estate area, only theoretical knowledge would not help us. As internship program is established to gather practical knowledge regarding various sector of economy, I chose to get practical knowledge regarding this sector and I select Protection One (Pvt.) Ltd. as my organization to work.

The duration of my program was nine weeks and during this period, I have learned many things. I observed that there is a great difference between theoretical knowledge and practical knowledge. I learned many terms, functions and nature of Housing activities. I also get practical knowledge regarding organizational environment.

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1.2 Methodology
A sample survey was conducted to collect primary data using two pre-designed survey instruments from concerned groups following an appropriate sample design. In view of the complexities involved in generating quantitative data for assessing the real impact, qualitative data were also collected using Focus Group Discussions (FGDs). In the context of the unique features of the area an attempt was made to identify the strengths, weaknesses, opportunities and threats of the organizations sector. Data Collection This study is mainly based on secondary data available from the various divisions and departments of Protection One (Pvt.) Ltd. , in addition to these other necessary information have been collected from the daily newspapers, relevant journals, annual reports of Protection One (Pvt.) Ltd. , Web side and publications of other relevant institutions have also been taken into consideration. Primary sources of data: Face to face conversation with the industrial officers & staffs. Conversation with the clients. Different manuals of Protection One (Pvt.) Limited. Different circulars of Protection One (Pvt.) Limited. Discussion with Industry Officers. Personal observation. Desk work in different sections/departments.

Secondary sources of data: Procedure manual published by the Protection One (Pvt.) Limited. Files and documents of the branch. Annual report of Protection One (Pvt.) Limited, 2011-2012. Different papers of Protection One (Pvt.) Limited. Unpublished data. Different text books.

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1.3 Objective of the Study


The main objective of this study is to have some practical exposures that will be helpful for my Final year courses in the BBA Program.

To achieve the broad objective the following specific objectives has been attained: To find out the motivational procedure of junior employees of Protection One (Pvt.) Limited. To find the financial performance of Protection One (Pvt.) Limited. Analyzing the performance of the Industry. To find out the different procedures of the Industry. To know the competitive strength and weakness of the Industry. To know the marketing and expansion strategy that can help to face the potential threats and opportunities. To find out the relations among the various department. To make a bridge between the theories & practical procedures of Industry day-to-day operations. To make possible recommendations for the internship organization to improve the services & service range so that the department can cater to the needs and demands of customers.

1.4 Scope of the Study


This report will give us a clear picture about the marketing strategy, customer satisfaction in general & specially the overall human resource activities of Protection One (Pvt.) Ltd. Bangladesh. The scope of the study is limited to organizational set up, functions, & performance. The scope of this study is: Maintaining a good relation between employees & management. Improving an effective work station design. Effective marketing layout designing. Efficient handling of employees. Handling & setting the employees according to their work. Maintaining the link in effective manner.

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1.5 Limitations of the Study


Despite my sincerest endeavor in preparing a perfect report, some of the limitations are inescapable. These are as follows:

Within such a short period of time (nine weeks), it was not possible for me to study everything about Protection One (Pvt.) Ltd. Bangladesh. The officers are so much busy that they cannot properly co-operate with me, which are a problem. Companys policy of not disclosing some data and information for obvious reason, which could be very much useful. To analysis SWOT of emerging market is a wide spread survey material. However, time constraint restricted the report to specific feature. The study requires experience to be fruitful but it was completely absent to me. Sometimes the officials were reluctant to give proper information regarding their activities because they felt hesitation and ambiguity to give data and information. Lack of personal knowledge and experience.

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Introduction

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Introduction 2.1 Introduction of the organization


Protection One (Pvt.) Ltd is a market leader in the real estate building and development sector. It was started its journey in 1990. Every individual has a dream home in mind. We at Protection One (Pvt.) Ltd. are in the business of turning your dreams into reality. Over the past quarter century Protection One (Pvt.) Ltd. Luxury apartment and commercial buildings though developing lands in Dhaka city mostly located in Dhanmondi, Gulshan, Banani, Uttara, Mirpur, Motijhil, Ashulia, Chittagong , Coxs Bazar & Sylhet have changed the Dhaka, Chittagong, & Sylhet skyline and presented a new lifestyle.

Protection One (Pvt.) Ltd. is environmentally responsible response to the rapid spate of urbanization in Bangladesh. Pressures of urbanization in this country are compounded by the unfavorable land man ration. Protection One (Pvt.) Ltd. has embarked upon a mission to make the maximum use of minimum land being sensitive to both environmental concerns and social continuity. Planned development by Protection One (Pvt.) Ltd. of the sites around the city has added value to those areas, released pressure on inner cities and persecuted the city dwellers with breathing space.

Professional team of design experts with mod outlook and engineers with state of the art equipment are backed by an R & D team constantly probing human habitat horizons as well as building technology. Their endeavors have resulted in the creation of aesthetically inspiring architecture, environmentally friendly development and top quality building. Protection One (Pvt.) Ltd. aim is to provide its clients with competitive price, quality materials, & hand over project on time.Protection One (Pvt.) Ltd. Bangladeshis the symbol of customer confidence.

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Mission & vision of Protection One (Pvt.) Ltd


Protection One housings mission is both broad and focused. It builds on its vision and translates the essence of that vision into projects that respond to board category of needs. Each of Protection One housings activities however is characterized by the same commitment to comfort and convenience.

2.2 Mission
The mission of Protection One (Pvt.) Ltd. Bangladeshis to provide service at an economic cost & progress in diversity & continue to the growth of real estate sector in Bangladesh by being the real estate market challenger.

2.3 Vision
The vision of Protection One (Pvt.) Ltd. is to offer unparalleled service to create customer delight & enhance real estate business. Their vision is to achieve excellence & different sense of modern living style.

2.4 Business Philosophy


Profit Maximization. Cost Minimization. Companys Wealth Maximization. Create customer value & satisfaction.

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2.5 Features of every projects of Protection One (Pvt.) Ltd. Bangladesh


The projects of Protection One (Pvt.) Ltd. are approved by RAJUK. The locations of Protection One (Pvt.) Ltd. are out of flood free zone. The project has natural greeneries. The Park & playground in every block separately. School, College, & University are included in the project. Protection One (Pvt.) Ltd. reserves 35% land for ecological balance. The location have eco-friendly environment. The administrative office & CCTV surveillance facility inside the project. Police outpost, traffic system & fire service are available inside the location. Electricity, gas & water connection are available in site as committed. Telephone & internet service are connected in the project. Land is delivered according to the promised offered. Registration is properly after full payment.

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INTERNSHIP POSITION AND DUTIES

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3.1 Internship Period


In the internship period it is very important for any one where practical experience gathered. I did my internship program at Protection One (Pvt.) Ltd. Bangladesh, Corporate Branch from 05thFebruary to 10th April 2014 the period of two month internship program. I have learned many things about their marketing strategy, recruitment policy, employee satisfaction policy &customer satisfaction policy. Working in Protection One (Pvt.) Ltd. I feel as a part of their & every employee on their helped me so much to understand the works easily.

3.2 Job Description


As an intern I engaged myself in different types of works which are given bellow: Potential client search: My main duty is client search, so at first Im searching the clients who are interested to buying the land & Flats. Making calls to customers & introducing them about our products: After searching the client, Im calling my customers & introducing them about our project & also invite to come our office. Ensure the visit of projects location: I convince the customer to visit the project location. Discuss with clients about the advantages & disadvantages of buying the land: Then I discuss with my customers about the advantages & disadvantages of the land& Flats. I discuss the main features of Euro Techs project. Try to convince them to purchase the land: Im trying to convince the customer to purchase the land or Flat. Making the agreements & get the booking amount: If the customer is convinced, then Im making the agreement & get the booking amount. Payment collection system: Every customer payment system is not same. Some customer directly comes to company for payment & some customer pay their payment by cheque. Making calls to customers for giving the due amount: Every customer is not pay full amount of money. Most of the customer use installment. So Im calling the customer for giving the due amount. Communicate with customer until the land has transferred: Im communicating with my customers until the land has transferred because of customer satisfaction. 20 | P a g e

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3.3 Daily Routine


My department of internship program is under marketing & sales department. So I was fully involved in marketing & sales department. Every day I have to go office at 9.00 a.m. like all other employees & stay up to 6.00 p.m. Some days my work area is in office & some days work was out of office, in the field.

3.4 Learning Points


During the internship period in Protection One (Pvt.) Ltd. Bangladesh, I have learnt lots of things. These are listed below: Communicate with the clients: Communicate with the clients over phone &give feedback them. Deal with customer: Here I have learnt how to deal with customer. Communicate with general people: To complete internship in Protection One (Pvt.) Ltd. Bangladesh, Im learnt how to communicate with general people. Convincing the clients: Here I have learnt how to convincing the clients to buy a plot. High range of promotional activities required to make a good consumer Relation: Here I have learnt how to make a good relation with customer.

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Human Resource Management

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5. Human resource management 5.1 Human resource planning


Protection One (Pvt.) Ltd. has a personal and administrative Department. Protection One (Pvt.) Ltd. is one of the biggest employers in Bangladesh. The total number of employees is 1,223. For the employees there is systematic in house training in home and abroad. To motivate the employees, along with salary and benefits the company provides various facilities like free meals , free transportation , 24 hour medical center , on site sports . Production and accommodation facilities include full time supply of safe drinking water, adequate lighting and ventilation facilities from sheet.

5.2 HR Practices of Protection One (Pvt.) Ltd. Bangladesh


Recruitment. Training. Performance Management. Labor relation. Employee relation. Job analysis. Job design. Selection. Development. Incentives.

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Recruitment & Selection Process

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6. Recruitment and Selection process in Protection One (Pvt.) Ltd. Bangladesh

6.1 Recruitment & Selection


Recruitment is the process through which the organization seeks applicants for potential employment. Selection refers to the process by which it attempts to identify applicants with the necessary knowledge, skills, abilities and other characteristics that will help the company achieve its goals, companies engaging in different strategies need different types and numbers of employees. The strategy of a company is pursuing will have a direct impact on the types of employees that it seeks to recruit and selection. Sources of recruitment There are two kinds of source Protection One (Pvt.) Ltd. uses for recruitment .They are 1. External source 2. Internal source. I try to discuss all relative sources which are used for recruitment in Protection One (Pvt.) Ltd. Bangladesh.

Employee relation
Employers and employees each have their own sets of needs and values, and successful relationship between these two sides requires that some sort of balance be struck. This balance often takes the form of a psychological contract, an understood agreement between employer and employees that defines the work relationship. This contract with or without support of a formal collective bargaining, agreement influence the outcome achieve by each side. Protection One (Pvt.) Ltd. the various into three channel categories those are: 1. Employee safety. 2. Employee health. 3. Employee working condition. 25 | P a g e

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1. Employee safety Protection One (Pvt.) Ltd. provides the employee safety .It ensure the all kinds of job safety such as insurance of each employee not this it provide insurance to them.

2. Employee health Free medical checkup, provide health care and also provide necessary medical facilities for each employee.

3. Employee working condition The working condition of employee is very hygienic Protection One (Pvt.) Ltd. is ISO 9001-2000 Certified Company.

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Job Analysis

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7. 1 Job analysis
Job analysis is the procedure for determining the duties and skill requirement of a job and the kind of person who should be hired for it .The supervisor or HR specialist of Protection One (Pvt.) Ltd. normally collects one of the following types of information: Work activities First he or she collects information about the job actual work activities such as marketing, sewing, production. This list also include how, why and when the worker performance each activity. Education and qualification Collects the information about education background and qualification. Experience Experience must be needed for any job in Protection One (Pvt.) Ltd. Bangladesh.

7.2 Sample of job analysis of Protection One (Pvt.) Ltd. Bangladesh:


7.2.1 Quality control manager
Qualification Master in any subject. Bachelor/diploma in textile and clothing or related discipline will be given. Preference Must have at least 7 years practical experience in similar position in any organizations factory.

7.2.2 Cutting Astt. Manager (cum in-charge)


Qualification Masters/ bachelor in any subject preferably commerce. Bachelor/diploma in textile and clothing or related discipline will be given.

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Preference Must have at least 7 years practical experience in similar position in any organizations factory. Autonomy Autonomy refers to the freedom and independence to plan and schedule the work and determine the procedures used to carry it out. Task identity Task identity means doing something from beginning to end rather than just part of it. Task significance It is the degree to which a job has substantial impact on an organization. Feedback Feedback is the degree to which employees can tell how well they are doing based on information from the job.

7.2.3 Environmental considerations


Social expectations In designing jobs, the surrounding social expectations must be considered to avoid possible worker dissatisfaction. Workforce availability Job requirements should be balanced against the availability of the people who are required to do the work. Autonomy Autonomy refers to the freedom and independence to plan and schedule the work and determine the procedures used to carry it out.

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Task identity Task identity means doing something from beginning to end rather than just part of it.

Task significance It is the degree to which a job has substantial impact on an organization. Feedback Feedback is the degree to which employees can tell how well they are doing based on information from the job.

7.2.4 Environmental considerations


Social expectations In designing jobs, the surrounding social expectations must be considered to avoid possible worker dissatisfaction. Workforce availability Job requirements should be balanced against the availability of the people who are required to do the work. Work practices Work practices are set methods of performing work. These methods may arise from tradition or the collective wishes of employees.

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Job Satisfaction

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8.1 Employment opportunities and Job satisfaction


Protection One (Pvt.) Ltd. views its people as the prime capital of the Real Estate Sector. They represent a world of opportunity, challenge and fulfillment. This is a performance driven organization, which believes that performance comes from belongingness and ownership and they always reward the performers in all aspects. Functional skills development focuses on developing & sharpening the technical skills of their people that they may be the best-in-class in their areas of expertise - technology, marketing, sales, finance, customer analytics, strategy, human resource, internal audit, regulatory & legal. Protection One (Pvt.) Ltd. cares about their people and their development. Here they will find opportunities for continued education and training. The organization is also working on the process and strategies to empower their people through leadership program. Protection One (Pvt.) Ltd. is committed to help their people learn, develop & enhance their functional skills, leadership capabilities & personal effectiveness. Their leadership development focuses developing leaders who think before they act and act according to the values that the organization embraces. Along with that they run Group Accelerated Development Program and Opco (Operating Country) Development Program. They carefully design their training and development activities keeping in mind the industrys best practices. Protection One (Pvt.) Ltd. Offers a market competitive rewards package that is designed to make employee feel as an integral part of the team and directly involved in the company's success. Their asset is their diversified workforce who is making the mark in the industry to create a unique workplace. Performance Management System (PMS) helps the employee make the most of their working life at Protection One (Pvt.) Ltd. Bangladesh. The process supports the employees in identifying and delivering against challenging goals that impact the organization. It helps the employee to plan how they will develop skills and leadership behaviors for their current position and for the years ahead. The company diversified workforce is the main asset of their organization. Protection One (Pvt.) Ltd. believes diversity is one of the key factors for success in any organization and hence they focus in this area consciously.

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8.2 Things Protection One (Pvt.) Ltd. does to attract top quality employees
It is HRs vision to handhold the company, be its strategic partner, adding value in each step taken towards making Protection One (Pvt.) Limited the Employer of Choice. Protection One (Pvt.) Ltd. engages their employees and inspires them to achieve excellence.

8.2.1 They provide Exposure to Their Employees Protection One (Pvt.) Limited recognizes the necessity to engage with the educational institutions of the country, as they want to be the Employer of Choice. They aim to ally themselves with the best private and public universities of the country. Sponsoring career fairs and counseling sessions with graduating students they impart a flavor of the corporate world and provide the employees with an exposure to best practices. This helps them in procuring the top students by inviting them to their internship program. 8.2.2 They Enhance Their Employees Euros policy is to hire the best talents in the job market and groom them to perform even better. The organization robust Performance Management System aids in identifying their talent, assessing their employees skill set and providing development initiatives in form of training and job rotation. Employees are evaluated which uphold their transparency.

The Performance Management System helps identify areas of improvement for each employee. Their Competence Development Unit does a training need analysis, coming up with a calendar of training sessions that focus on the areas identified for improvement. Thus, they equip their employees with the required skills to achieve and enhance in their career.

They recognize the passion to perform in their employees. The group to be groomed into future leaders nurtures the top performers of the company. The Group Accelerated Development Program serve as a breeding ground for future leaders, giving their managers international exposure and propping them for global challenges where the employees would be given opportunities to serve an

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Financial Incentives to motivate the junior employees of Protection One (Pvt.) Ltd. Operating Company within the Protection One (Pvt.) Ltd. Bangladesh. Moreover, the company also arranges for job rotations and assigns employees to projects so as to create breath to their careers as well. Such initiatives inspire employees to be creative and take ownership of responsibilities. 8.2.3 They Empower Their Employees At Protection One (Pvt.) Ltd. Bangladesh, they empower to share their voice. Their introduction to CXO chat and blog sites provides the platform for employees to be heard. Moreover, their Employee Satisfaction index survey gauges the opinion in areas, which concern working environment and cultural issues. They respect the opinion of their employees and strive to accommodate their views so as to ensure a conduced work environment that thrives with passion and facilities performance. Moreover, they are particularly attentive to equipment requirements. Their employees are provided with necessary computers, phones and Internet connection so that the employees are connected to the world for professional needs and personal ease. 8.2.4 They Enrich Their Employees At Protection One (Pvt.) Limited, they aim to enrich the lives of their employees with targeted benefit packages that take off the burden of personal obligations. The benefits are designed in a manner to exemplify their concern for their employees well-being not only in terms of life, but also in terms of living standard. Child support, determined hospitalization costs, transportation are few examples of benefits they provide.

8.2.5 They Ensure Their Employees Maintaining the highest ethical standards and integrity in their operations is a crucial factor at Protection One (Pvt.) Ltd. Bangladesh. Therefore, the company has introduced their Guiding Principles that is they expect their employees to embed in his or her mind and upholds in ones responsibility. Their code of Ethics safeguards their ethical standards by clearly defining their way of working. With such systems in place they ensure that they do business with a conscience and safeguard their employees from exploitation.

It should be noted that all their employees are obliged to sign a Letter of Understanding (LOU) after reading the Code of Ethics. They expect their employees to exemplify the

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8.3 Duration and procedure of leaves at Protection One (Pvt.) Ltd. Bangladesh
8.3.1 Annual Leave

Management
General Manager DGM & AGM Senior Manager Manager Assistant Manager Executive Non-Executive

Annual Leave Entitlement


25 Working Days 22 Working Days 20 Working Days 18 Working Days 16 Working Days 14 Working Days 14 Working Days

50% of the entitlement of the annual leave can be accumulated or carried forward to the next service year and rest can be lapsed if not availed.

8.3.2 Medical Leave Employee medical leave is entitled for 14 days for all level of executives. Employee must have to produce medical certificate for medical leave. There is no provision of accumulation of medical leave.

8.3.3 Quarantine Leave Quarantine Leave is leave of absence from duty necessitated by orders not to attend office in consequence of the presence of infectious diseases in the person, family or household of an employee. The authority up to maximum grants such leave 15 working days. However, the employee concerned has to submit a medical certificate from a registered medical practitioner.

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8.3.4 Accident Leave Employees who get injured by an accident occurred while on duty is allowed Accident Leave with full pay for the period required for full recovery and become fit to join duties. If the accident causes partial or full disablement and the joining to duties is uncertain, then Management is going to decide on accident.

8.3.5 Maternity Leave A female employee who has been employed for period of not less than ninety days during the nine months immediately preceding her confinement shall be granted ninety consecutive days maternity leave on full pay. Maternity leave shall be granted after twenty-eight weeks of pregnancy and application for maternity leave shall be made not less than two months prior to date on which it is desired that the maternity leave shall commence. Such entitlement applies for two times during her service with the company.

Leave on account of miscarriage prior to the twenty-eight week of pregnancy shall not be considered as maternity leave as medical leave.

8.3.6 Paternity Leave Male employees are entitled for three working days paternity leave. One employee can avail paternity leave up to two times during his tenure.

8.3.7 Compassionate Leave Employees are entitled for three working days compassionate leave in case of death of their parents, spouse and children to cope up with the shock.

8.3.8 Hajj Leave Only permanent employees (service length minimum 2 years) can take Hajj Leave of 20 consecutive days (including holidays) for Holy Hajj with prior approval of the Management. An employee can avail Hajj Leave once in his or her service tenure with Protection One (Pvt.) Ltd. Bangladesh.

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8.3.9 Leave without Pay The company may grant an employee, at its discretion, no pay leave on important personal ground upon approval of the divisional head, provided that the employee has exhausted his or her annual leave. Functional Heads are responsible to approve for such leave depending on the circumstances

8.3.10 Compensatory day-off An employee when required to work on any weekly holiday or govt. holiday shall be given a substitute day off which should be taken within one month of that date or will be forfeited. Employees may take day off leave instead of any weekly or Government holiday if he or she works on that day for at least eight hours in one day. The leave must be taken within the following month and necessary documents (attendance register) must be produced for the approval. On the other hand, the employees will not be entitled for day off leave if they take holiday allowance for the day.

8.3.11 Encashment of annual leave If any employees leave application is rejected for two times in a year, he or she is eligible for applying for the leave encashment up to a maximum of ten days. The encashment is based only on Basic salary.

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8.4 Salary and benefits


Monthly salary is transferred to employee individual salary account each month with other allowances less deductions such as income tax, contributory provident fund etc. Each employee receives a monthly pay statement detailed gross pay and deduction. The Gross or Average amount of employees in various Grades are given below:

Position
MD / CEO Chief Officers (CTO, CMO , CFO) General Manager Assistant General Manager (AGM) Senior Manger Manager Deputy Manager (DM) Senior Assistant Manager / Senior Engineer Assistant Manager / Engineer Senior Executive / Engineer Executive / Assistant Engineer Executive/Assistant Technician

Grade
32 27 26 25 24 23 22 21 20 19 18 17

Amount
Confidential Confidential Confidential 250,000 200,000 150,000 90,000 60,000 50,000 45,000 40,000 35,000

Allowance Allowances are paid with monthly take-home salary, namely house rent, medical conveyance and utility.

Festival Bonus Protection One (Pvt.) Ltd. usually awards two bonuses in a year on occasion of Eid or Christmas as Festival bonus. The amount is normally equals to the basic salary.

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Other Variable Bonus Protection One (Pvt.) Ltd. offers other variable bonuses like; performance bonus (related with individual performance) and company performance bonus (special bonus for company performance or success) to the employees.

Soft Furnishing Allowance This allowance is paid as a part of house maintenance of the staffs. Only executive and above (permanent) are entitled for the allowance. This allowance is paid on yearly basis at the end of the year.

Job Level
Top Management Senior Management (DGM & AGM) Manager Assistant Manager Executive

Yearly Allowance (Tk)


20,000 15,000 8,000 6,000 4,000

Overtime Allowance Only Executives (Grade 17,18,19,20 and 21) and Non- Executive (Grade 1,2,3,4 this grade involves Building Assistant) are eligible for overtime. Maximum ceiling for overtime is 48 hours in a month (except Grade 1 and 2).

Salary Review Salary is reviewed periodically with consistent with the living standard and competitive salary package offered by other multinational organizations as Protection One (Pvt.) Ltd. claims.

Provident Fund and Gratuity The contribution in Provident Fund is 10 % of the basic salary from both sides, employee are eligible for company contribution after five years of membership of the fund. Employee is also entitled to a gratuity payment.

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Group Life Insurance Protection One (Pvt.) Ltd. management has approved a group life insurance policy under which, death, permanent partial disability and permanent total disability are covered. Moreover, the insured amount for life is 36 times gross salary. Child Birth Benefit All regular employees are entitled for Child Birth Allowance as per stated below: Manager and above: (Both employee and spouse) Tk 15,000 per delivery Assistant Manager and below: (Both employee and spouse) Tk 10,000 per delivery. Hospital Fund Policy All employees are entitled for the benefit (all permanent employees and their families, all probationers and their families and all contractual employees and their families including Non Executives) as per the level of emplacement or Grade. (Family means spouse and children up to 25 years old). An employee can claim for two-hospitalization cost per year. An employee should take prior approval from the Head of Human Resources in writing in advance of any pre-planned hospitalization. In case of emergency the employee is ask to inform the Human Resource, Immediately. Hospitalization expense includes: Consultation fees while admitted Investigation expense (ECG, X-Ray, MRI, CT Scan etc) while admitted Artificial limbs, eyes, casts, braces and crutches Post hospitalization physiotherapy up to two sessions Rental or wheel chair or hospital bed, if advised by physician Ambulance service to and from the hospital Treatment by Radiotherapy or Chemotherapy Two follow up visits after discharge from hospital Accommodation Allowance An employee who is required to travel out station on company business beyond a radius of 33 Km from his office (within Bangladesh) and requires a stay of 24 hours or more shall be entitled for following claims a) Hotel Rental b) Rental without Receipts 40 | P a g e

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Incentives

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10. Incentives
Compensation fluctuates according to: A pre-established formula Individual or group goals because group goals are different from individual goals Company earnings. An incentive adds to base pay.

It controls costs because the employee is being paid for his/her extra effort and for the benefits brought to the organization. Motivates employees. Incentive Pay Categories. Individual. Group. Company-wide.

10.1 Individual incentive plans Quantity of work output (How many units produced) Quality of work output (What was the quality of the product or service being produced or served) Monthly sales (How much sales was generated) Work safety record (How many hazard or errors are being reduced. Work attendance (If the absent is reduced or attendance is good)

10.2 Group incentive plans Customer satisfaction Labor cost savings Materials cost savings Reduction in accidents Services cost savings

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10.3 Company-wide incentive plans Company profits Cost containment/prevention Market share Sales revenue

10.4 Individual Incentive Plans (Piecework plans) Awards based on individual production vs. company standards Awards based on individual performance standards using objective & subjective criteria Quantity and / or quality goal

10.5 Advantages and disadvantages of Individual Incentive Plan

Advantages Helps relate pay to performance Promotes equitable distribution of compensation Helps retain best performers Compatible with individualistic cultures and societies

Disadvantages May promote inflexibility Unrealistic standards may hamper employee motivation Setting performance standards is time consuming Factors beyond employees control may affect outcomes Factors not rewarded may be overlooked

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Training & Employee Development

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Training & Employee Development in Protection One (Pvt.) Ltd. Bangladesh


Their Training & Development enables their people to enhance their employees skills, keep them updated with recent changes. They offer both on-the-job and off-the- job at both theoretical and practical training opportunities through a range of Local, Regional and International Training programs that include both functional and managerial levels on the basis of Training Need Assessment. Training Need Analysis (TNA) is conducted by Department Heads and Human Resource Department jointly on the basis of job analysis.

Management Development Training


Round the year, management development training is organized for managers & executives at their Corporate Headquarters, Dhaka Unit & Pabna Unit. Their own and renowned resource persons from home & abroad conduct the training sessions. They also send their employees to renowned local training institutes for specialized training.

Overseas Training
They send their employee to abroad for training program depending on availability of appropriate topics. Technical persons of their factories attend the Factory Assessment Test (FAT) in various parts of the world for smooth operation of equipments.

Field Forces Training & Development


Each year, a significant number of Field Forces complete their induction training program and joined to their respective markets and appear at examination in every month for further development.

Field Forces Refresher Course


For updating product knowledge and selling skills of field forces, Refresher Course is organized in four different regions in every month.

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Territory Manager Training


Twice in every year, mid-level managers of sales participate in the training program titled Sales Territory Management at a regular basis.

Distribution
Every year a number of Distribution Assistants (DA), Data Entry Operators (DEO) go under induction training program immediately after initial recruitment. Each month, Refresher course for DA, Driver and Packers is organized in two different depots for updating their knowledge.

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FINDINGS, RECOMMENDATION AND CONCLUSION

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Findings and Analysis


Protection One (Pvt.) Ltd. is one of the most successful Real Estate Company in Bangladesh. It has a very mature Human Resource Department. It follows clear set of rules to run the HR Department. Their employee recruitment and selection process, skill development process, employee-employer relationship is up to the standard. While making this report I saw few lacking in different aspect, which Are: doesnt give a circular to the

While recruiting from inside Protection One employees.

(Pvt.)

Ltd.

This organization just discusses among the managers and decides on the position. The employees get no chance to express their will to join get particular position, at least a chance. To us, this is a problem which needs to be rectified because everybody deserves a fair chance.

According to a HR Manager Imran Islam, most applicant get nervous while the interview. So, many of them cant perform to their potential. It is a very bad thing forProtection One (Pvt.) Ltd. Bangladesh. The Organization also doesnt try to make the applicant comfortable in the interview.

Even though Protection One (Pvt.) Ltd. offers a broad spectrum of training and development programs there are very few opportunities to enjoy them. The jobs need to be done are very much repetitive, tedious and most of the time employees need to work for usual office hours. Boredom usually leaves few spaces the employees to enjoy on the training programs.

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Recommendation
To overcome this internal recruiting problem what we suggest is a redesign of their internal selection process of Employee. It is because everybody should have a fair shot at the vacant position. The first thing the organization has to do after a position is vacant is that it should give an inside circulation to call for application from the employees. The employees have to be notified about the vacancy. This can be done through sending an e-mail or letter, which they already have. The best way would be to post a notice on the office notice board beforehand. This way the organization would have done the best it can do to get the best employee from the organization. Even after that if some qualified person doesnt apply then its the employees who missed the chance. Sometimes while selecting from inside, there is a potential chance of any kind of favor. This thing has to take care of. The screening of the application should only be on the basis of qualification, nothing else. The interview should be proper and formal. The organization shouldnt take it easy because its the employees giving interview. Any kind of negligence could lead to a potential wrong decision, which may harm the company for a very long time. Taking the advantage of technological improvement the organization can share moreinformat ion and thus upgrade training and development process. Moreover thecompany need to be aware not only about developing more training techniques but also about ensuring that employees have enough time to enjoy them. The organization should provide the employees a flexible work schedule.

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Conclusion
Protection One (Pvt.) Ltd. is a way ahead in terms of its business, strength, vision, management services, and human resources. It works in the most advance way possible in all their activities that make it easy for them to achieve their desired goal with a less effort. For Protection One (Pvt.) Ltd. to flourish in the country, coordinated effort has been made by all its departments. Not to mention HR department among them outstands in all respects. They are always ahead of current thinking with new practices, concepts and management techniques.HRM department operates at the center of the business, managing the dynamic people, policies and practices. Skills and competence are ensured to align with that of corporate objectives.

The organization is trying to be very flexible and is capable of adjusting to any change whatsoever. This is very important for any organization to operate successfully in Bangladesh, where many strong competitors are present. Protection One (Pvt.) Ltd. establishment and success with the HR department has greatly contributed to a highly motivated labor force compare with other companies. The organization is trying to establish a flexible HR system, so that top management can constantly stay updated concerning the performance level of their respective personnel. They are trying to develop effective and morale boosting compensation packages. The company's employees are very willing to accept changes.

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References
Annual report of PROTECTION ONE (PVT.) LTD of 2009. Annual report of PROTECTION ONE (PVT.) LTD of 2010. Annual report of PROTECTION ONE (PVT.) LTD of 2011 Frazer, Lyn m. And omission Aileen understanding financial statements, 6th edition, 2001 prentice hall of India. Khan, m y and join pk, financial management, 3rd edition, 2002,Tata McGraw- hill. Brigham, Eugene f and Houston Joel fundamental of financial management, 4thdition, 2004, Thomson. Ross, Stephen a, Wethersfield, Randolph a, and Jordan, Bard ford d, fundamentals of corporate finance, 6th edition, 2003, Tata McGraw-hill. Davis, Keith and Newstrom, John W. (1997) . Organizational Behavior: Human Behavior at Work. 11th Edition Pp 208-210. McGraw-Hill, New York.

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