Professional Documents
Culture Documents
Independent University, Bangladesh (IUB)
Independent University, Bangladesh (IUB)
Submitted To:
Submitted By
Respected Ma’am,
We are hereby submitting our Report, which is a part of the Human Resource Management
course . It is great achievement to work under you. This report is Comparing Recruitment &
Selection of Management Trainee Programs in Banking Industry in Bangladesh. We tried our
level best to complete this report properly and to produce a meaningful report within all the
constraints. We concentrated on areas that we believed would be the most relevant to make the
report coherent as well as practical as possible.
We shall be highly obliged if you are kind, enough to receive this report and provide your
valuable judgment. We would be glad to furnish you with any clarifications, if required. We
therefore submit it, hoping that you would excuse the minor flaws.
Sincerely yours,
Salman Al Fazri
Ifte Dadul Karim Turzo
Anik Dey
Rafique Yeasdan Bhuiyan
Acknowledgement
Firstly, we would like to be thankful to Allah for giving us the strength and energy to be able to
submit this report on its due deadline and to be able to meet all the necessary requirements
through the whole process.
Secondly, we would like to thank our faculty Ms. Nabila Kamal Promy, Lecturer, Department of
Human Resource Management., Independent University, Bangladesh for her constant support
and guidance. Without her guidance, we could not have completed our report on time and met its
requirements.
And Lastly, Independent University, Bangladesh (IUB), for giving us such an incredible
platform to achieve knowledge and experience through this course.
It has been an honor to prepare this report with a lot of dedication and support from many
incredible people.
We hope this report will be able to fulfill all the required requirements and will be helpful for
people in the future.
Contents
Introduction......................................................................................................................................5
Company Profile: Eastern Bank Ltd................................................................................................6
Company Profile: Standard Bank Ltd..............................................................................................7
Introduce the Management Trainee Programs.................................................................................8
Eastern Bank Probationary Job Conditions:................................................................................8
Standard Bank Probationary Job Conditions:..............................................................................8
MTO Job Responsibilities...............................................................................................................9
Recruitment sources.......................................................................................................................10
Application process of the program...............................................................................................11
Eastern Bank Ltd.......................................................................................................................11
Standard Bank Ltd.....................................................................................................................11
Selection Process of the Management Trainee..............................................................................12
Document Checks:.....................................................................................................................12
Interview:...................................................................................................................................12
Reference Check........................................................................................................................14
Job Offer....................................................................................................................................14
Medical Test:.............................................................................................................................14
Appointment Letter....................................................................................................................14
Acceptance of Offer Letter & Joining Procedure......................................................................15
Induction/Orientation.................................................................................................................15
Conclusion.....................................................................................................................................16
Reference.......................................................................................................................................16
Introduction
Banking is a very significant part in the modern world and in its economy. Banks play a major
role in the development of the economy and can be considered as the prime factor for the money
supply in any given country. Without financial institutions, the growing economy and all its
ventures will be paralyzed as everything has a monetary value in the modern society unlike old
times, where barter trade was in motion. Over the recent times, however, the financial or banking
sectors are going through several changes, whether it is due to open markets, globalization, and
deregulation or due to technological changes. In addition, Bangladeshi Banks are falling behind
to adapt to these global changes, which as an inverse is creating problems for the corporate
sectors and industrialized sectors of the country.
Company Profile: Eastern Bank Ltd.
With a vision to become the bank of choice and to be the most valuable financial brand in
Bangladesh, Eastern Bank Ltd. (EBL) began its journey in 1992. Over the years EBL has
established itself as a leading private commercial bank in the country with undisputed leadership
in Corporate Banking and a strong Consumer and SME growth engines. EBL’s ambition is to be
the number one financial services provider, creating lasting value for its clientele, shareholder,
and employees and above all for the community it operates in.
To become the bank of choice by transforming the way we do business and developing a truly
unique financial institution that delivers superior growth and financial performance and be the
most recognizable brand in the financial services in Bangladesh. They deliver service excellence
to all our customers, both internal and external & create an enabling environment and embrace a
team based culture where people will excel & ensure to maximize shareholder’s value. Systems,
procedures and training to maintain a cohesive and professional team in order to achieve service
excellence.
Company Profile: Standard Bank Ltd.
Standard Bank Limited a private sector commercial bank. It started operations on 3 June 1999
with an authorized capital of Tk. 750 million and paid up capital of Tk. 200 million. The capitals
were divided into ordinary shares of Tk. 100 each. The 50% of paid up capital was paid by
entrepreneurs directors designated as Group-A shareholders and the remaining 50% was paid by
members of the general public designated as Group-B shareholders. The bank was incorporated
as a public limited company under companies’ act 1994.
The bank offers commercial banking services including deposit, providing loans and advances,
export and import financing, inland and international remittance facilities and other ancillary
customer services to banking and finance. Since its inception, the bank conducts foreign
exchange business. It has correspondent relationships with 22 foreign banks and financial
institutions. The bank plays an important role to explore the domestic economy through those
foreign banks and financial institutions. Moreover, the bank with the view of helping of migrated
workers opened an exchange house named with Standard Exchange Company Limited in the
UK. So they can send remittance easily and swiftly. Standard Bank already has introduced on-
line banking, ATM and Debit Card facilities.
Introduce the Management Trainee Programs
Eastern Bank Ltd. & Standard Bank Ltd. started their Management Trainee/Graduate Trainee
Programs near about in 2014. Every year they hire management/graduate trainees, Around 100 to
80 of trainees hired in each year.
Eastern Bank Limited is following equal opportunity for all employees. So, selected applicants
will get additional facilities based on their merits. Applicants will get confirmation as senior
officer after six month. Completion of probationary period, they will be promoted as permanent
employee.
Finally selected candidates have to sign for 3 years security bond in favor of Eastern Bank.
But selected candidates will render guarantee that they will do the service with the bank for
minimum five (5) years at any of its branches or offices in the country.
Job placement will be anywhere in the country. So applicants need to be willing to abide by this
condition.
MTO Job Responsibilities
Both banks MTO job responsibilities are almost same.
Bdjobs.com
Campus recruitment,
Newspaper
Analytical ability
Logical reasoning ability
Numerical ability
The test question contains math based and analysis based questions where processing
information from data and forming relationship ability among the clues of given problem are
required to answer them. Generally Bank take written test for entry level position like Trainee
assistant and for MTO level. The exam committee checks the answer scripts. According to the
top marks candidates are invited for interviews.
Document Checks:
The candidate must submit photo copies of their education certificates of school, college and
university. In case where the original certificates have not been provided by the institution,
probationer certificate, academic transcript or mark sheet will also be accepted by the bank.
Interview:
Candidates who qualify in the written test are called for an interview. The candidates are
informed about the interview time, date and venue at least 48 hours prior to the interview. All
communications with the candidate like setting interview time and date, are done by HR
recruitment team only.
In Both Banks interview board is formed with at least three members, one from top management
and others from HR and functional department. This first interview is called Preliminary
Interview. In case of evaluating a candidate, the criteria or competencies that Bank, look for are:
Based on all these criteria’s, an evaluation rating is given to the candidate on the evaluation
form: 1= Poor; 2= Marginal; 3= Good; 4= Very Good; 5=Outstanding.
Additionally the qualifying grade point for MTO is 40 and for others position is 35. If the
candidate achieves 46-50 marks, he or she is considered as Outstanding and if someone gets 1-20
then he or she consider as poor candidates. Based on this information the interviewer considers
candidates:
For lateral entry external or internal both candidates, Banks only take the interview and based on
that they recruit for suitable or required position. In this case the candidates are assessing based:
In view of all these criteria interviewers gives remarks candidates upon their performance Very
Good, Good, Average and Below Average. And these remarks help the board to take decision
whether the candidate is:
Eligible to employee
Can be consider for different position
May be consider after 3/4 months
In eligible for employee.
For any vacancy at Bank, take two rounds of interview. The final interview is taken by the
Divisional head and top management people. From this interview some suitable candidates
comes out. Banks interview format forms for lateral entry and junior level position are given:
Reference Check
When a candidate is selected for the job, his or her given reference has been checked by HR. The
candidate must give at least two references. If the candidate is fresh, then he or she has to have
one reference from his educational institute. But if the candidate was previously employed, must
have one reference from last organization, preferably the supervisor. Subject to satisfactory
response will get job offer.
Job Offer
An approval needs to be taken from the MD for all permanent position and temporary position
and the approval is given by Head of HR. If a candidate successfully reaches the final stage then
candidates are given a job offer after salary negotiation and upon acceptance of the job offer the
candidate will be sent for medical test at bank selected diagnostics. There is no salary negotiation
for temporary employee. Individuals joining as MTO have a probation period of twelve months.
Medical Test:
The job offer is contingent on passing medical examination conducted by the Bank nominated
diagnostic center. The candidates have to collect a letter for medical from HR and go for the
medical test. This test examined candidate’s physical condition and to ensure whether they are
eligible to perform the job or not. This stage also provides information regarding any contagious
disease of the candidates and whether those diseases can be taken care of or not.
Appointment Letter
At last the after the medical test and reference checked, the offer letter for the candidate has been
issued. After that the candidate gets the call that he or she has been appointed and he or she has
to collect the letter from HR. The appointment letter specifies all the terms and condition of the
job.
Acceptance of Offer Letter & Joining Procedure
The joining also has some procedure. In time of joining at first the candidates have accept the
offer letter by signing it. Then he or she has to fill up some forms like,
HRIS form
ID Card form
A five years Indemnity Bond
Declaration
When all this formalities are over the candidate will become one of the member of Bank and
start working as an employee of Bank
Induction/Orientation
Last step of Bank selection process is orientation. All new recruits must undergo an
Induction/Orientation program, in order to familiarize themselves with the organization’s culture,
norms, rules and regulations so that they know what is important in the organization and what
they are supposed to do. Induction helps an employee to become effective member of the
organization. Bank Training Institute shall arrange a Basic Banking Training Program for the all
the new hired employees.
Conclusion
This project report attempted to identify the recruitment and selection processes of two different
types of banks. Eastern Bank Ltd and Standard Bank Limited. Both banks have some common
features in the processes, but there are also some distinctions. The similarities and distinctions
along with some recommendations for both organizations are discussed throughout the report. To
conclude, the initial function of HR is recruiting employees. If this step is inaccurate, it can cause
great harm to the profitability of an organization. Considering this fact, all organizations, be it a
private firm should develop proper and flexible process of recruiting and selecting employees
that fits the organizational needs.
Reference
https://www.shrm.org/resourcesandtools/tools-and-samples/job-descriptions/pages/banking-
management-trainee.aspx
https://edudaily24.com/en/standard-bank-job-circular-2021-mto/
https://en.banglapedia.org/index.php/Standard_Bank_Limited
https://www.researchgate.net/publication/
273947746_Recruitment_and_Selection_Process_of_Prime_Bank_Limited_An_In_depth_Analy
sis
https://www.tutorialspoint.com/human_resource_management/
human_resource_management_introduction.htm#:~:text=Human%20Resource%20Management
%20(HRM)%20is,emphasizing%20on%20policies%20and%20systems.
https://www.bibm.org.bd/single_member.php?id=4
https://www.standardbankbd.com/
https://www.banksbd.org/ebl