Premier University, Chittagong

Report On
“Impact of Employee Motivation on Organizational Effectiveness”
(This Report is submitted for the Partial Fulfilments of the Degree of Masters of Business
Administration with Major in HRM at Premier University Chattogram Bangladesh)
Submitted To:
Ms. Kainatun Nur
Lecturer
Department of Human Resource Management
Faculty of Business Studies
Premier University, Chittagong
Submitted By:
Name: Mohammad Akramul Haq Arafat
ID: 2003220804020
MBA (HRM)
Batch: 32nd
Faculty of Business Studies
Premier University, Chittagong
Date of Submission: 2 May, 2022
 Letter of Submission

2 May, 2022
To
The Supervisor
Ms. Kainatun Nur
Lecturer
Department of Human Resource Management
Faculty of Business Studies
Premier University, Chittagong
Subject: Submission of report on “Impact of Employee Motivation on
Organizational Effectiveness”
Dear Madam,
Here I am submitting my Report on “Impact of Employee Motivation on
Organizational Effectiveness”. The Report which you gave to me has been
finished successfully. It was a great experience for me and I have attempted my
best to collect information to make it clear, perfect and faultless while working on
it. It gave me an opportunity to gain knowledge and experience. I do not want to
miss the opportunity to thank you for all your support and guidelines which you
offered to me and I hope that it will continue in future.
Please accept my Report and call me for any further information at your convent
time and place.
Sincerely Yours,
Name: Mohammad Akramul Haq Arafat
ID: 2003220804020
Program: MBA (HRM)
Batch: 32nd
Premier University, Chittagong

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 Acknowledgement

Preparing a report of any sector of subject is really a challenging work for anyone.
Being the student of Human Resource Management and to prepare report on the
specified topic, I accept it with challenge opportunity and also became successful to
present the report with our full endeavor. This Report has been duly prepared and
submitted to meet the partial fulfillment of MBA program. As being the student of
MBA Level, I am so pleased and proud for being the integral part of this report in
the context.
I prefer to expressing my heartfelt and immense gratitude to my Report advisor, our
honorable Ms. Kainatun Nur Madam, Lecturer of Premier University. I am deeply
grateful to her whole hearted and earnest supervision Turing the Internship Report
period. I have completed my term paper in a well-furnished manner with taking her
valuable suggestion and guidelines.
And I would like to convey my gratitude to my all-honorable Teachers and madams
who are always beside me and help me as much as they could and still be.

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 Table of Contents
Chapter One Introduction ............................................................................................................... 5
1.1 Origin of the report ............................................................................................................... 6
1.2 Background of the study: ...................................................................................................... 6
1.3 Introduction ........................................................................................................................... 7
1.4 Data Collection Method ...................................................................................................... 7
1.5 Data collection instruments................................................................................................... 7
1.6 Organization Profile .............................................................................................................. 8
1.8 Hierarchy at FSIBL ............................................................................................................. 10
1.7 History: ............................................................................................................................... 11
1.8 Division of FSIBL: ......................................................................................................... 11
Chapter Two Literature Review.................................................................................................... 12
2.1 The definition of motivation .......................................................................................... 13
2.2 The concept of motivation.............................................................................................. 13
2.3 Motivation methods........................................................................................................ 14
2.4 The importance of motivation on organizational effectiveness ..................................... 16
2.5 Maslow Hierarchy of Needs ........................................................................................... 17
2.6 Herzberg’s two-factor theory ......................................................................................... 20
2.7 Vroom’s Expectancy theory ........................................................................................... 23
2.8 Motivation in HRM............................................................................................................. 24
Chapter Three................................................................................................................................ 26
JOB At CHAWKBAZAR BRANCH ........................................................................................... 26
3.1 Organizational Structure: Chawkbazar BRANCH ............................................................. 27
3.2 On the job responsibilities .................................................................................................. 28
3.2.1 General Banking Sections in FSIBL Rupnagar branch ............................................... 28
3.2.2 Account Opening Section: ........................................................................................... 28
Chapter Four ................................................................................................................................. 32
Motivation and Performance......................................................................................................... 32
4.1 Motivation and performance (First Security Islami Bank) ................................................. 33
4.2 The Five-Step Training & Development Process ............................................................... 33
4.3 Wages and salary policy ..................................................................................................... 34
4.4 Job Scope and Individual pay ............................................................................................. 34
4.5 Employee Compensation & Benefits in FIRST SECURITY ISLAMI BANK .................. 35
4.5.1 Various Compensation Dimensions of First Security Islami Bank Limited.................... 35
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 4.5.2 Several Types of Paid Leave in First Security Islami Bank Limited ............................... 35
4.5.3 Reword System Of FSIB ................................................................................................. 35
4.5.4 Cola (Cost-Of-Living Adjustment) .................................................................................. 36
4.5.5 Motivation:....................................................................................................................... 36
4.5.6 Reward System: ............................................................................................................... 37
4.5.7 Benefit Package: .............................................................................................................. 37
4.5.8 Indirect Compensation for Motivations ........................................................................... 37
Chapter Five Findings & Recommendation ................................................................................. 39
5.1 Findings of the study:.......................................................................................................... 40
5.2 Recommendations: .............................................................................................................. 41
References ..................................................................................................................................... 42

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Chapter One
Introduction

5
1.1 Origin of the report
As a student of major in Human Resource Management, I had a choice to develop
my skills working in a renowned financial institution of our country. The
internship program as a complementary course of MBA program has given me that
chance. Having three months long internship program at First Security Islami
Bank. HR Training & Development Centre, I learnt a lot on practical
implementation of my knowledge and skills. This satisfied the prerequisite of the
program as well as worked with the scattering of information in the financial field
of Bangladesh and aided me a ton to contrast hypothetical information and
practical experience. This report is therefore the outcome of the assigned
internship, suggested by the First Security Islami Bank HR Training &
Development Centre.

1.2 Background of the study:

Banks are the most important financial institutions of a country. And the functions
of the HR Division where action does not only take for recruiting people but also
for creating impacts on firm ‘s financial performances and Prime Bank, Human
Resources (HR) Division regularly undertakes effectively designed training
programs targeting the right group of employees through proper training need
assessment. First Security Islami Bankbelieves that continuous efforts should be
given so that employees acquire and develop the right set of skills required to face
the challenge of ever-changing market. In Prime Bank, the employee development
plan is based on proper training need assessment.
So, as a whole I hope this topic will certainly help all of us in various ways.
The Internship program is a practical course of the MBA Program of Premier
University. After completion of One-year theoretical knowledge gathering, I got
the opportunity as a practical exposure to business horizon through internship
program. My internship supervisor and respected course instructor Ms. Kainatun
Nur, Lecturer, MBA Program, Business Administration, Premier University,
Chittagong, Bangladesh, assigned me the topic “Employee Training and
Development of First Security Islami Bank Limited”. I hope this report would able
to portray the importance of First Security Islami Bank HR-TDC.

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1.3 Introduction
This Chapter begins with description of sampling procedure, which includes the data
Collection method of the present study. Subsequently, the variables and measures, as well as
statistical analysis used in the present study are discussed.

1.4 Data Collection Method

Primary Data: Primary data has been collected from -
• Face to face interview to Officers
• Group discussion with the company personnel
• My three months observation
Secondary Data:
Secondary data has been collected from -
• Books
• Annual reports.
• Journal
• Web site of various apparel industries.
• HR Documents of various apparel industries

1.5 Data collection instruments

The study was carried out based on both primary and secondary data. Primary data was collected
from various apparel industry located at Chattogram. A structured mostly closed styled, was
provided to 38 employees of various apparel industry to collect primary data. Secondary data was
collected from different HR Documents and Company Profile.

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1.6 Organization Profile

FSIBL Corporate Profile

Name of the Company First Security Islami Bank Limited

Chairman Mr. Mohammed Saiful Alam

Vice Chairman Mr. Mohammed Abdul Maleque
Managing Director Mr. Syed Waseque Md. Ali

Company Secretary Mr. Oli Kamal FCS

Legal Status Public Limited Company

Date of Incorporation August 29, 1999

Date of Commencement of Business August 29, 1999

Date of getting license from Bangladesh Bank September 22, 1999

Date of Opening of 1st Branch October 25, 1999

Head Office Rangs RD Center, Block: SE (F), Plot:03, Gulshan

Avenue,
Gulshan-1, Dhaka-1212

Registered Office 23, Dilkusha C/A, Dhaka-1000, Bangladesh

Line of Business Banking

Authorized Capital Tk.30,000 Million

Paid up Capital Tk.9,961.98 Million

Date of consent for IPO June 04, 2008

Phone +88 02 55045700 (Hunting),

8432614-8432625 (ICT Division).

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E-mail info@fsiblbd.com
SWIFT Code FSEBBDDH

Auditors Rahman Mostafa Alam & Co.

Chartered Accountants
Principal Office: Paramount Heights (7th Floor,
D2 & C1)
65/2/1 Box Culvert Road, Purana Paltan, Dhaka-
1000

Shafiq Basak & Co.

Chartered Accountants
Shatabdi Centre (6th & 8th Floor),
292, Inner Circular Road, Fakirapool, Motijheel,
Dhaka.

Legal Advisor The Law Counsel, Barrister & Advocates,

City Heart (7th Floor), Suit No. 8/8, 67,
Naya Paltan, Dhaka-1000.
Phone: 9349647-8,
Fax: 9349866, 9567029,
E-mail: l.counsel@bdonline.com.
Tax Consultant K.M. Hasan FCA, K.M. Hasan & Co.
Chartered Accountants, Dhaka Office
Home Tower Apartment (8 th & 9 th Floor),
87, New Eskaton Road , Dhaka – 1000,
Phone: 9351457,9351564, Fax: 9345792-112

(FSIBCI2022)

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1.8 Hierarchy at FSIBL

Chairman Advisor Board of Director

Managing Director

Additional ManagingDirector

Deputy Managing Director

Senior Executive Vice President

Executive Vice President

Senior Vice President

Vice President

Senior Assistant Vice President

Assistant Vice President

Senior Principal Officer

Principal Officer

Executive Officer

Junior Officer

Assistant Officer

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1.7 History:

First Security Islami Bank Limited was incorporated on 29 August 1999 as a

commercial bank. It started operations on 25 October 1999 with an authorized
capital of 1 billion taka. From 2009 the bank started sharia banking Bangladesh
Sports Press Association (BSPA) in 2014 awarded the bank best sponsor. The
Bank sponsored the National School Hockey Tournament. (FSIB1999)

1.8 Division of FSIBL:

• ATM Card Division.
• Audit & Inspection Division.
• Board Secretariat.
• Budget & Monitoring Division.
• Credit Division-1.
• Credit Division. -2.
• Credit Card Division.
• Classified Loan Recovery Division.
• Financial Administration Division.
• General Banking Division.
• Human Resources Division.
• International Division.
• Information System & Technology Division.
• Law & Recovery Division.
• Marketing Division.
• Merchant Banking Division.
• Public Relations Division.
• Protocol Division.
• Reconciliation Division.
• System & Operations. (FSIBCI2022)

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 Chapter Two
Literature Review

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 2.1The definition of motivation
The word “motivation” originates from a Latin word “movere”. “Movere” means to move.
Thus, it creates a reflection of something going up, keeping us working and helping us to
achieve our goals (Korth2007).

Jeffrey S. Nevid, a profess. Or of psychology, defined “motivation” as: “The term motivation
refers to factors that activate, direct, and sustain directed behavior. Motives are the ‘whys’ of
behavior – the needs or wants that drive behavior and explain what we do. We don’t actually
observe a motive; rather, we infer that one exists based on the behavior we observe.”
(Nevid2013).

The definition of “motivation” can be broad, and there are many ways to define the term itself,
depending on e.g., different perspectives. The purest definition it expresses is something that
motivates (1873). It is an act or a process that gives a person a reason to do something in a
particular way, or an explanation for the repeated behaviors, needs, and desires (Elliot1999).
In short, it describes why a person does something.
In an organizational aspect, motivation has been defined as “the sum of the processes that
influence the arousal, direction, and maintenance of behaviors relevant to work settings”.
Employee motivation at work is considered as an essential drive as it generates effort and
action towards work-related activities, for example, employee’s willingness to spend the
energy to achieve a common goal or reward. When an employee is motivated, he or she shows
enthusiasm and eagerness to- wards the work and a strong determination to implement and
accomplish the work tasks (Moran2013).

2.2The concept of motivation

“Motivation is psychological forces that determine the direction of a person’s behavior in an
organization, a person’s level of effort and a person’s level of persistence” (Jones2008).

The concept of motivation could be broad; however, according to Jones & George (2008),
there are three major components of motivation which are direction, intensity, and persistency.

Direction is a goal that forces an individual to perform an act to achieve it. A goal is chosen
consciously or unconsciously by an individual. There are factors that influence a person in
selecting the goal, including both internal and external factors, and the final goal is the best
one chosen among potential alternatives. The intensity is the level of determination or effort
put by an individual in the process of achieving the goal; how hard an individual has tried, and
how much energy, time, money, or any other mental or physical things have been used during
the process to achieve the goal. Persistence is the ability of an individual to maintain the
motivation through times even though obstacles may exist (Judge2013).
It is not an exaggeration to say motivation is the core to being successful. A motivated person
is likely to willingly put more effort into doing a task and a good result is within expectations.
When goals are achieved, it drives a feeling of being
Satisfied and enjoyment for the employees and creates a positive working attitude in the
workplace.
Additionally, the concept also mentions in the classification of motivation types which can be

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divided as Intrinsic (internal) motivation and Extrinsic (external) motivation as show in figure
2

Figure 2: Intrinsic and Extrinsic Motivation (Ryan & Deci 2000)

Intrinsic motivation comes from one’s self-desire to seek out new things and to challenge
oneself. It is the eagerness to learn, to gain knowledge and to explore self-values and
capabilities (Ryan2000, 2000). When a person has intrinsic motivation, it means he or she does
the job with interest and enjoyment. Such persons have the tendency to be engaged in their
jobs, do their work with passion and willingness, striving for best results and self-reward as
well as continuously improving their skills and abilities
On the contrary, extrinsic motivation refers to the performance of activities to achieve the
desired outcomes. Extrinsic motivation can arise from both internal and external factors.
However, most of the time it comes from the impact of external factors rather than internal
ones (e.g., individual itself). Therefore, the main question to answer is from where to get the
extrinsic motivation and how a person can sustain his/her motivation (Ryan2000, 2000). There
are factors that create extrinsic motivation, for example, competitions, appraisals, external
rewards, or punishment (Dewani2017).

2.3Motivation methods
There are many ways to motivate employees in today’s working environment. Organization
globally have been using different strategies and approach in order to improve employees’
motivation. However, it seems that the best motivator for employees is something that is indeed
important in their lives. Furthermore, different people might have different values and
approaches and, therefore, being able to understand employees’ needs and using appropriate
motivating methods can help increase the level of motivation (Glesson2016)

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According to Jan Ketil Arnulf’s article “Money as a Motivator” on Fudan University School
of Management (2014), money is deemed to be the best motivator to any individual. Looking
back to the historical time, it is money that caused huge differences between employees
working in inhuman conditions in the early industrial revolution and the ones working in slave-
conditions in the countryside. For those who take part in the “paid employee” system, the
money means more than just itself; it also means freedom and prosperity. That is why many
people trying to move to industrial regions with the hope to improving their lives and working
conditions. With that prospect of salary, today many young people are still striving from poorer
to better living conditions, from low to high education since they think it is the only way to
ensure a prosperous future.

But is money the best and only motivator? Or are there any of motivators that have surpassed
the money motivator? Considering from another perspective, we, as human beings, work for
money, but also for many other things too, such as achievement, recognition, advancement,
growth, responsibility, and the work it- self (Herzberg1987) (Herzberg)
Employee empowerment has been promoted as a way to increase motivation (Kaplan & Norton
1992, 1996) (Kaplan&Norton, 1992). Empowerment gives employees a feeling of control,
efficiency and impact. It creates a sense of freedom in making choices and the ways how to
work, and work involvement; the feeling of responsibility and the ability to carry out work in
a satisfactory manner; and the feeling of achievement when the task is accomplished within
expectations and with desired outcomes. Many studies have shown that employees with high
empowerment motivation have higher level of work motivation, which correspondingly results
in better organizational productivity and performance (Thomas&Velthouse1990, 1990).

Achievement motivation is referred to as the need for achievement (Elliot & McGregor 1999).
It is the need for success and indicates the wish of attaining excellence. Achievement may vary
depending on different people. For example, it is the need for enjoyment and fulfillment to
have a work-life balance, to feel engaged and satisfied with the work but still able to enjoy
meaningful life to the fullest. Or it is simply about the impact their work has had on e.g., society
and, environment. Feeling that you are making a difference, changing the world in a positive
way, and making it a better place to live is really a powerful motivator (Jex&Britt2008).

Advancement as a motivator indicates the opportunities of being promoted to higher position,

having higher salary and more benefits in the company. Not all employees share the same
advancement motivation, therefore understanding each employee’s needs and assisting them
to reach the satisfied drivers is also a way to motivating employees (LipmanV2014, 2014)

Growth motivation is quite similar to advancement motivation since it is one of the motivators
that helps retain the employees. However, the definition is broader and it is not only just about
career promotion or better salary and benefits. Good employees are enthusiastic, eager,
determined, and above all, ambitious. They are always looking for better opportunities to grow,
to acquire more knowledge, to learn new skills, to widen their network, and to challenge
themselves with different positions. Providing and stimulating employees’ growth motivation
is essential method of increasing the level of motivation (LipmanV2014, 2014)

The work itself is also a contributor to employee motivation. There is a fact that an employee

15
might absolutely love his or her job, is satisfied with the pay, and has good relationships with
his/her colleagues, but still finds the work itself completely boring and uninspiring. A happy
employee may stay, but if you really want to motivate the employees, create interesting work
and let them engage with it. This means forming strong work cultures, encouraging creative
thinking and innovation, and especially, avoiding unhealthy, unequal and impotent working
environments.

Additionally, in 2014, the employee engagement firm TINY pulse carried out a survey “The
seven key Trends Impacting Today’s Workplace” which involved over 200000 employees in
more than 500 organizations (Lipman 2014). The aim of the survey was to discover the factors
that motivate employees to excel and go for an extra mile in the organization.

Figure3: Motivation factors (TINY pulse Employment Engagement & Organizational Culture
Report 2014)

The results came out were surprising. Money, which often seems to be the major contributor
to motivation, was the seventh on the list. On the contrary, peer motivation/camaraderie was
ranked first (20%), followed by the intrinsic desire to a good job (17%) and feeling encouraged
and recognized (13%). This result had pointed out the paramount importance and huge
influence of intrinsic motivation towards a person’s viewpoint and accordingly made concrete
the perspective of intrinsic motivator has surpassed extrinsic motivator.

2.4 The importance of motivation on organizational effectiveness

All organizations, regardless of size, market, and technology, want to be success- full and
maintain a constant progress even in a current highly competitive environment. In order to
achieve those goals and objectives, strategies must be developed and well-implemented with
the effective utilization of all capable re- sources. A few companies believe that their
employees are an important asset that can lead them to overcome difficulties, exceed their

16
limits and reach prosperity. In contrast, companies that put their personnel in the center of the
business, main- training a positive and strong relationship with its employees, persuading them
to- wards task fulfillment are proved to result in higher effectivity and productivity.

However, today, organizations are also facing challenges in employee retention.

Acknowledging the important role of employees and the huge influence they bring towards
organizational effectiveness; companies are trying to retain employees by creating motivation
and a healthier workplace. This is very important because if the personnel are not focused well,
it associates with a decline in organizations productivity and effectiveness. Unless and until
the employees are motivated and satisfied, an organization cannot foster to success.

Many researchers have shown that motivated employees perform work better than demotivated
ones. Motivated employees are more innovative as they are always looking for better ways to
complete a task. They are self-direct and goal-oriented. They can produce high-quality work
with more or maximized efficiency and productivity which also leads to maximization of
profits.

Employee motivation has a strong influence on the effectiveness of an organization (Paul

2017). Organizational effectiveness is a broad term but this study follows the concept as
“locating targets and attaining them proficiently in spirited and energetic surroundings”. “An
effective organization will make sure that there is a spirit of cooperation and sense of
commitment and satisfaction within the sphere of its influence”. There are no fixed parameters
to compute the effectiveness of an organization since it varies from company to company and
from case to case. However, it can be used to measure any- thing within an organization, from
leadership, communication, accountability, metric, human performance, to the delivery
systems. In this research, the focus is mainly on human performance, specifically on the aspect
of employees’ motivation. The aim is to prove the connection and made concrete the idea of
employee motivation resulting in organizational effectiveness.
In summary, motivation is important to both an individual and the organization. For an
individual, motivation is an essential factor that encourages a person to achieve his/her
personal goals. Within an organization, motivation is said to be a factor that leads to employee
satisfaction. Also, motivation inspires a person to widen his/her knowledge, to explore and
unleash his/her full capabilities and potential. Correspondingly, from the organizational
aspects, motivation leads to a positive attitude in the workplace, easy adaptation to changes
and more creativity. The more motivated the employees are, the more contribution they bring,
thus the more profitable and successful is the Organization.

2.5 Maslow Hierarchy of Needs

The first theory of motivation which is used as a theoretical base for this study is Abraham
Maslow’s motivation theory. Abraham Harold Maslow (1908 – 1970) is an American
psychologist who is well-known for his theory of Hierarchy of Needs. The theory illustrates
five different stages of human needs in a hierarchic order, starting from the most basic to the
most complex ones. In a survey “Review of General Psychology” published in 2002, Maslow
was named among the tenth most famous psychologists in the 20th century. There are some
needs that are fundamental to human beings, and without their existence nothing else matters.
We living persons consider needs as a motivator. We always start with the lowest level of

17
 needs and strive for satisfaction fulfillment; once achieved, we are then looking to satisfy
higher needs. In other words, “a person cannot move to the next level of needs without
satisfying the previous level”.
Maslow’s Hierarchy of Needs is often described in a pyramid shape with the largest and most
elementary levels of need at the bottom, and the need for self-actualization at the top.

“Maslow used the terms ‘physiological’, ‘safety’, ‘belongings and ‘love’, ‘esteem’, and ‘self-
actualization’ to describe the pattern those human motivations generally move through. The
goal of Maslow’s theory is to attain the highest level of stage: self-actualization needs”.
According to Maslow (Figure 4) (1954), the needs from the basic to the most complex are
listed as follow:

▪ Physiological needs: breathing, food, water, sex, sleep, homeostasis, excretion

▪ Safety needs: security of body, employment, resources, morality, family,
health, and property
▪ Love and belonging: family, friendship, sexual intimacy,
▪ Esteem: confidence, achievement, respect of others, respect by others
▪ Self-actualization: morality, creativity, spontaneity, problem solving, lack of
prejudice, acceptance affects

Figure 4: Maslow’s Hierarchy of Needs (Finkelstein 2006)

The most basic and essential four layers of Maslow’s Hierarchy of Needs pyramid are called
“deficiency needs” or “d-needs”: physiology needs, safety needs, love and belongings, and
esteem. If there is a deficiency on this level, an individual’s all behaviors will be directed to
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content the deficits. Furthermore, if these “d-needs” are not met – with the exception of
physiology needs: a fundamental level of need which must be fulfilled with satisfaction in the
first place the individual will feel nervous and scared. For example, if you have not slept well
or eaten adequately, you will not be interested in your belonging’s desires. It is suggested by
Maslow that the most essential level of needs must be met and achieved before a person moving
to satisfy higher levels of needs. In addition, the “d-needs” itself classified into basic needs
(including physiological and safety needs) and psychological needs (including love and
belonging and esteem).

The Hierarchy of Needs starts with the lowest level of need: physiology needs. Physiological
needs including vital necessities for human existence and survival, such as air, water, food,
and other living needs. Physiological needs are considered to be the most important because
without satisfying it first, the desires for other needs are not a matter of concern. Without food,
a human body cannot function well; if you are hungry, all your activities will be oriented and
forced to find food; “employers who pay at least a minimal living wage will meet these basic
employee needs”. Therefore, physiological needs should be met first. Once an individual’s
physiological needs are achieved and somewhat satisfied, the person drives the desire towards
his or her safety needs. It includes, for instance, the personal security: of body, of health and
wellbeing, of morality, and of family; the job security: of work opportunity, and of
employment; and the financial security: of property, and of resources. In the world nowadays,
it is a concern when the need for safety is day by day increasing. It is not just about having a
place to live, feeling certain and being free from the threat of danger and pain. People feel
unsafe due to such reasons as natural disaster, war, violence, abuse, or economic instability.
This level is more likely to be appeared in children as they normally need the feeling of being
secured. In organization, “employers can meet these needs by ensuring employees are safe
from physical, verbal or emotional hazards and have a sense of job security”.

The next level of needs is love and belonging, which be longs to human’s psychological needs.
“Humans need to love and be loved both sexually and non-sexually by others”. According to
Maslow, when an individual’s basic needs are fulfilled, their need is interpersonal,
involvement, and acceptance. This is the need to be social, to have friends, and relationships.
It can be the involvement in a group of co-employees, clubs, student organization, hobbies
group, or a person’s own gang; or the connections with family, close friends, colleagues, and
neighbors. We cannot deny the important role of love and belonging needs in human’s life, as
there are evidences of people experiencing from loneliness, anti-socialization, autism or even
depression in the deficient of this element. Respectively, for employers in business aspect,
being able to create a satisfactory reward system and implement organizational program in
which employees are actively take part in can help fulfill and satisfy these needs of employees.
The fourth level mentioned by Maslow in the Hierarchy of Needs is esteem needs. “All people
in our society have a need or desire for a stable, firmly based, usually high evaluation of
themselves, for self-respect, and for the esteem of others”. Consequently, this level of needs is
categorized into 2 types, which can be defined by the term “self-respect” and “esteem”. Self-
respect refers to “the desire for strength, for achievement, for adequacy, for mastery and
competence for confidence in the face of the world, and for independence and freedom”. This
level is achieved when a person feels satisfied and enjoyable with what they have completed,
like simply by feeling positively, and living a meaningful, valuable and on-purpose life.

19
 Likewise, esteem portrayed the desire to be accepted and valued by others. And only by
satisfying the “desire for reputation or prestige, status, fame and glory, dominance, recognition,
attention, importance, dignity, or appreciation” this esteem needs will be fully achieved.
Finally, self-actualization – which is classified as the “being needs” or “b-needs – is the highest
level in Maslow’s Hierarchy of Needs. “What a man can be, he must be” (Maslow 1954). This
level illustrates the need of “to become everything that one is capable of becoming” to be aware
of and achieve a person’s full potential. In other words, they will try to do everything to the
best of their ability. When a person has reached the state of self-actualization, they tend to be
individualistic, focusing more on themselves and having a desire to widen knowledge, acquire
new skills, take on new responsibilities, experience more new challenges, and act in a way that
will take them to attain their desired life goals. According to Maslow, in order to completely
achieve this level of needs, an individual must not only achieve and satisfying the previous
needs, but also master them.
To sum up, Maslow’s Hierarchy of Needs can be briefly described up as follow:

▪ Humans are influenced and motivated by their personal’s desires, wants and
goals. Only unsatisfied needs motivate, satisfied ones don’t.
▪ The needs are organized in hierarchic order based on the priority order in
human’s life, starting from the most basic to the most complex.
▪ A person can move to the higher levels of needs only when the previous lower
ones are successfully achieved.
▪ The higher level of needs a person reaches, the more individuality, humankind,
and well-being a person becomes.

2.6 Herzberg’s two-factor theory

The theoretical study of this thesis continues with Frederik Herzberg’s motivation theory.
Frederick Herzberg’s two-factor theory demonstrated that human’s behavior is influenced by
two sets of factors which are the satisfaction factor and the dissatisfaction factor. He believes
that those factors result in human motivation and job satisfaction in the workplace and the
absence of them does not cause dissatisfaction but not motivation either. Based on the theory,
Frederik Herzberg also pointed out the two components which contribute to the state of
satisfaction and Dissatisfaction, called motivator factors and hygiene factors as show in figure
5.

20
Motivator factors, including personal achievement, status, recognition, the work itself,
responsibility, growth, promotion, and opportunity for advancement, are described as intrinsic
factors. The intrinsic factors tend to be in- tangible and deal with more emotional needs. A
typical example of it would be referred to doing something with interest and enjoyment. The
presence of motivator factors can lead to an increase in motivation, satisfaction and, thus,
higher commitment, but the absence of it will not certainly reduce motivation on the contrary,
hygiene factors, for instances, interpersonal relationships, company policies and
administration, working conditions, quality of supervision, job security, salary, and wages and
other benefits, and work-life balance, are characterized as extrinsic factors. The extrinsic
factors are tangible and classified as basic needs since it refers to doing something for external
rewards such as money, fame, or status. It is opposite to intrinsic factors which influence a
person’s behavior by his or her inner desire and motivation. Also, unlike motivator factors, the
presence of hygiene factors will not motivate, but could avoid dissatisfaction, however the
absence will surely lead to demotivation.

According to Herzberg (1987), there exist a complex connection between satisfaction and
dissatisfaction. They both have a great influence on a person’s behavior and the state of being
satisfied or dissatisfied, however, they are affected by different factors and proceeded
independently of each other. For example, a person indicates himself/herself as a cause to

21
satisfaction, whilst blaming the external factors like the situation or environment for resulting
in dissatisfaction.

Nonetheless, the theory is essential to every manager as it marked the importance of providing
hygiene factors sufficiently to the employees as a way of motivation and so far, somewhat
resulted in satisfaction. The absence of hygiene factors will lead to demotivation however, the
presence of it is not enough to motivate people. Therefore, managers also have to focus on
increasing motivator factors, such as by job enrichment: creating an interesting job and
working environment, giving employee more opportunities for advancement, to maximize the
competences, taking more responsibilities, experiencing new challenges, and giving
employees a praise whenever needed.

22
 2.7 Vroom’s Expectancy theory
The last motivation theory chosen as a basement for this study is Vroom’s expectancy theory.
The theory, which was established by Victor H. Vroom in1964 cited the connection between
a person’s effort and motivation with the expected desired outcomes. It explains the procedure
of how a person selects to perform a set of behaviors over another one, and how the decision
made is related to the goals.

According to Vroom (1964), an individual’s motivation to reach a desired outcome is

determined by the three important components, which are expectancy, instrumentality, and
valence. They can be illustrated in an equated as show in figure 6:

Figure 6: Vroom’s expectancy theory (Scholl 2002)

The first component in the equation is expectancy, which is defined as a person’s belief that
their effort will resulted in desired outcomes, such as performance or success. It is also a
person’s evaluation of what kind and how much effort should be put in order to achieve better
results or higher performance. For example, an employee working in the customer services
department believes that if he/she tries harder, the work performance will lead to customer
satisfaction. When the employee has a strong feeling of it and is aware that he/she is able to
accomplish the goal, then he/she will be likely to put more effort to work. In this way, we say
he/she has high expectancy. The second component – instrumentality – refers to a person’s
belief that his/her performance is linked to later results, such as reward or punishment. For
instance, if a person believes that his/her hard-work will be recognized and resulted in rewards,
he/she is likely to put more effort to work. Finally, valence component demonstrates a person’s
perception about the amount of reward or punishment received as a result of performance. If a
person feels that the reward or punishment is well-earned with his/her effort and performance,
he/she will put more effort to achieving it.
Force, which indicates a person’s motivation to perform a set of activities, is the result of the
three components. “In general, people will work hard when they think that it is likely to lead
to desired organizational rewards”. “Vroom thought that people are motivated to work toward
a goal if they believe the goal is worthwhile and if they perceived that their efforts will
contribute to the achievement of that goal”.

In short, the theory implies that when a person reaches a high level of all components in the
equation, he/she will be highly motivated and put more effort into attaining the desired
outcome.

23
2.8 Motivation in HRM

Motivation is concerned with getting someone to do something one want or, on an individual basis,
wanting to do something for own self for a particular reason. For many businesses, the most
expensive asset they possess is their human resources. These resources are hired for the value that
they add to a business – as a result it makes sense to ensure that the business gets the best out of
those resources.

On other words Motivation is to inspire people to work, individuals in such as to produce best
results. It is the willingness to exert high level of effort towards organizational goals, conditioned
by the efforts and ability to satisfy some individual needs.

An important part of the retention of staff, reducing staff turnover and minimizing absenteeism at
work is ensuring that staff are properly motivated. The wage should be increased, the facilities
should be insured and social security should be confirmed. These are the types of common
motivational ways.

Staff motivation is the cornerstone of open, flexible and caring management culture, which the
Government aims to establish through HRM.

To put it into practice, “open” means not only to listen to staff suggestions and opinions, but also
to empower staff, accept their constructive criticisms and use their suggestions.

To be “flexible”, we may need to change the traditional ways of doing things. As far as staff
motivation is concerned, the biggest challenge perhaps is to stop focusing on problems and the
guilty party (police behaviour) and start looking for those responsible for things gone right (coach
behaviour).

“Caring” calls for a human leader who would give emotional support to individuals and at the
same time attend to the overall emotional needs of team members – which include treating them
all in a fair and impartial manner.

Today’s employees want a respect that can be seen as involvedness in decision that will affect
them. Listening to the employees is a way of Motivation. All the motivation functions focus on
one primary goal, to have some competent and adapted employees with up-to-date skills,
knowledge and abilities, exerting high energy levels.

That’s how we belief that “people are our most important asset”. The basic principle underpinning
motivation is that if employees are led effectively, they will seek to give of their best voluntarily
without the need for control through rules and sanctions — they will eventually be self-motivating.

24
Maintenance of employees:

To maintain the employees of a company must look after the employee-

a. Health and safety: For employees health and safety then there is an act called OSHA
(Occupational Safety and Health Act) which assures Assure so far as possible every working man
and woman in the nation safe and healthful working conditions and to preserve our human
resources.

The basic purpose of OSHA is to administer the act and to set and enforce the safety and health
standards and responsible for promulgating legally enforceable standards. It is said that Employers
with 11 or more employees must maintain records of occupational injuries and illnesses, and report
both occupational injuries and occupational illnesses.

1. Communication: The communication between the employees and top-level management should
be clear and transparent. There should no gap between top level management and low-level
management.
1. Employee’s relation: Employees should be committed to their companies and the companies also
should understand the needs and wants of the employees. In some companies’ employees and
labours create labour union for better relationship among the workers and employees.

25
 Chapter Three
JOB At
CHAWKBAZAR
BRANCH

26
 3.1 Organizational Structure: Chawkbazar BRANCH

Organizational Structure: Chawkbazar BRANCH

Mohammad Bashir Ullah

AVP & Manager

Md. Masud Rana Faruqee

Operation Manager

Jahedul Alam
Senior Principal Officer

Suporna Farzana Islam Iffat Khanam Rubaiya Haque

Talukder Officer Junior Officer Assistant Officer
Senior Officer

Najrul Islam Monirul Islam Sohel Haque

Hanifur Rahman
Head Of Cash Junior Cash TACO
Assistant Officer
Officer

27
3.2 On the job responsibilities
From February1st to April 30th, these three months I had been closely observed all the
general banking tasks done by the officers at the desk. At different departments, tasks
are completely different. Sometimes I had to talk with the clients face to face,
sometimes I had to check the supplementary details.
As an intern in First Security Islami Bank Limited Rupnagar branch I had the
opportunity to learn from departments like accounts department, clearing department
and foreign exchange department.
My experience of these jobs in different departments will be discussed in this chapter.

3.2.1 General Banking Sections in FSIBL Rupnagar branch

i. Accounts Opening Section
ii. Remittance Section
iii. Clearing Department Cash Department

3.2.2 Account Opening Section:

1. Account Opening Procedure:

Eligibility: Any Bangladeshi citizen can open this account. He/She must be at least 18
years old and not mentally disturbed. The account can be opened singly or jointly.
This signatory can be:
a. A person
b. proprietorship/partnership firm
c. limited company (private/public)
d. educational institution
e. club, association
f. socio-economic organization

28
2. Filling a form
At first the applicant has to fill up a form. Depending on applicants’ choice of deposit
schemes a form is given to them. They can be verified by their color. Bottle green
savings A/C form, blue DPS A/C form, green FDR A/C form, orange current A/C
form.

3. Nominee
The applicant needs a nominee for his account. If the A/C holder deceased, the
nominee becomes the A/C holder.

4. Referrer
The applicant must have a referrer to open an account in FSIBL. The referrer takes
full responsibility that the applicant is good in nature and will follow all the rules of
the bank.

5. Required Documents

• National Id
To verify applicant some documents are needed. For this national id card is
the most relevant source.

• Photo Id
But sometimes the applicant may not have the id card. For that a photo id
from their work place or educational institution (in case of Onkur &
Projonmo) is required. Both the applicant and the nominee require photo id.

• Birth Certificate
Sometimes without any photo id only applicants birth certificate can be
relevant if they have a referrer.

• Photograph
When opening a savings A/C the applicant requires 2 passport size photo
and nominee requires 1 passport size photo. When opening DPS and FDR,
both applicant and nominee each requires 1 copy of passport size photo.

• For Current A/C

29
 For current account there will be some additional documents are need. In
case of partnership.

➢ Partnership deed of the firm.

➢ A duly certified photocopy for records of Bank.
➢ Copy of trade license.
➢ Photocopy of TIN paper of applicants.

• In case of limited company.

➢ Certified copy of the memorandum and articles of association of
the company.
➢ A duly certified photocopy for Bank’s records) • Chairman /
Managing Directors passport photocopy.
➢ Photographs of signatories.
➢ Copy of trade license.

6. Information gathered
Information gathered from the applicants from both talking face to face and
from the gathered documents. Direct conversation is very important because
the A/C opening officer can identify the applicants mental state and can collect
some of the information that’s not available in the gathered documents like
contact number.

Also, the A/C opening officer verifies the income source of the applicant and
set the transaction parameter of the A/C.

7. Signing the agreements

The applicants have to sign agreeing the procedures. The applicant must use
that same signature to every transaction with the bank. If the applicant wants
SMS and ATM service, then they have to sign extra two papers.

8. Checking Information
The authorized officer checks all the information given by the applicant. A/C is
opened if all information is correct but any wrong information leads the officer
to call the applicant to verify, if the applicant not response within a month,

30
 then the officer will not submit the form.

9. A/C Holder
Then the applicant become the A/C holder. Bank then give the A/C holder one
paybook and cheque book. The cheque book usually comes to the branch after
3 working days from submitting a form.

31
Chapter
Four
Motivation and
Performance

32
4.1 Motivation and performance (First Security Islami Bank)
We living persons consider needs as a motivator. We always start with the lowest level of needs
and strive for satisfaction fulfillment; once achieved, we are then looking to satisfy higher needs.
In other words, “a person cannot move to the next level of needs without satisfying the previous
level”.
Motivator factors, including personal achievement, status, recognition, the work itself,
responsibility, growth, promotion, and opportunity for advancement, are described as intrinsic
factors. The intrinsic factors tend to be in- tangible and deal with more emotional needs. A typical
example of it would be referred to doing something with interest and enjoyment.

First Security Islami Bank sets its goal annually does revision for them and takes monthly
feedback.
• To earn profit for the Bank itself and maximize its shareholder value. To promote and boost
up business sector inside and outside the country.
• To provide solutions for multiple requirements of clients of diverse financial nature.
• To adopt the new techniques of current financial market.
• To be a diversified bank by offering all basic consumer services along with specialized
services.
• Honest and ethical conduct, including ethical handling of actual or apparent conflicts of
interest between personal and professional relationship.
• To provide employment opportunities to people.
• To offer loans and advances to help out in self-employment schemes.
• To be a customer focused bank.
• To build sound relationships with top industrial groups and various multinationals.
• To increase the number of online branches.
• To improve market shares of the bank by increasing ATM network.
• To implement the performance appraisal process to provide motivation and merit-oriented
culture in the bank.
To improve extensive training to the employees in the process, products, marketing and
selling skills.

4.2 The Five-Step Training & Development Process

Training program consists of five steps which are given below:

Needs analysis step

FSIB identifies the specific job performance skills needed, analyzes the skills & needs of the
prospective trainees, & develop specific, measurable knowledge & performance objectives.

33
Instructional Design:

Here the HR manager of FSIB decides, compile & produce the training program content, including
workbooks, exercises, & activities.

Validation Step:

In this step the bugs are worked out of the training program by presenting it to a small
representative audience.

Implementation:

Training the targeted employee group.

Evaluation & Follow-up:

In this step management of FSIB assesses the program’s successes or failures.

4.3 Wages and salary policy

The bank is giving or following the customary compensation plan. In the customary compensation
plan essential compensation is decide on status premise. They previously concluded that what pay
they will give to their workers. Compensation given to the representatives as indicated by the pre
characterize grades/scales which is decide by the legislature. The idea pay for execution isn't
follow in the First Security Islami Bank. Two kinds of recompenses which offers to the workers
are as per the following:
Specialist Allowance, General Allowance. Except basic salary different special types of
allowances which is related to the post of employee are given to the employees, for example
designation allowance offers to the higher post employees like (District manager, Branch manager
or regional manager). security key allowance are offers to customer service operational manager.
General type of allowances are offers to every employee of the bank. It includes medical allowance
for (the dependent family members), festival allowance for (Both Eid’s) or travelling allowance
for (Business tours, meeting or trainings etc.)

4.4 Job Scope and Individual pay

Job scope determine on the basis of the job to what extent the job is worthwhile for the organization
not on the basis of personality or other. Individual pay determines by the bank on the basis or pre
define standards or also qualification, experience of the job, skills of the person, competitiveness
of the person or on the basis of knowledge. Individual pay also depends upon the annual
performance report of the employee which determine how much percentage of salary should be
increase. Salary starts from 25000 increase according to the service or performance appraisal
report.

34
4.5 Employee Compensation & Benefits in FIRST SECURITY ISLAMI BANK
Employee compensation refers or all forms of pay or rewards going to employees and arising from
their employment. Thus, compensation means what employee receives in exchange for their work.
Benefits are indirect financial payments given to employees. They may include health and life
insurance, vacation, pension, education plans, and discounts on company products, or instance.

4.5.1 Various Compensation Dimensions of First Security Islami

Bank Limited
• House Rent: First Security Islami Bank provides house rent every month 50% of his/her
basic salary.
• Children’s education facility: FSIB provides children’s education fee as every month
20% of his/her basic salary.
• Medical Allowance: Medical allowance provide 10% of basic salary.

4.5.2 Several Types of Paid Leave in First Security Islami Bank

Limited
• Sick Leave: Sick leave refers to when employees take time off from work to attend to
the health needs of themselves or their family. FSIB provides 15days of sick leave in a
year.
• Casual Leave: Casual defines an event or situation that occurs by chance and without
any plan. Casual leave is paid leave and can be typically availed after the probation period
of the employee ends. It is the most commonly availed leave among the others and can be
availed as per casual leave rules of the company. FSIB provides 15days of Casual leave in
a year.
• Maternity leave: Maternity Leave is a paid leave/absence from work provided by an
employer to a woman employee for the period before and after childbirth. FSIB provides
5 months of Maternity leave in a year.
• Compensatory leave: Employees who have clocked in more hours than they were
required to can be eligible for compensatory days off. Ensure that any employee who has
put more time in or come to work on days they were off (like Saturday) are given a
compensatory day off. FSIB provides 3 days of Casual leave in a year.
4.5.3 Reword System Of FSIB
Every employee wants to hear "good job" from their supervisors. While it doesn't have to be
the employee-of-the-month plaque, a bonus or a raise, rewarding employees should be on the
top of managers to-do list.

Keep employees involved

A disconnect can form between upper management and the rest of the staff. One of the
biggest rifts forms over communication - there may not be enough talking between the
various levels. Employees of FSIB, make sure that they stay involved with the day-to-day
operations of bank branch. Hold regular meetings, send out frequent emails and loop

35
 everyone in on major decisions.

Reward the whole team

When someone does something great at bank, the entire team should feel that win. In fact,
rewards program should have a team-based focus. While highlight one person's
accomplishments, their entire department can reap the reward. This will increase morale and
build unity among staff. Not only that, but they'll also be more motivated to work hard
knowing a team-wide benefit is coming their way.

Be more flexible
One of the biggest gripes employees have with their jobs is their hours. Few people actually
want to be at work, and oftentimes, personal commitments get in the way. HR can truly
reward his/her staff by being more flexible with hours.

Spice up the work day

Work doesn't have to be bland and boring, even at a bank. There are a number of ways Hr
can have a little fun on the job. For example, HR can relax the dress code once per week.
He/she could also throw a monthly party or create a team-building exercise, like bringing in a
family photo and sharing. Work can get monotonous, and anything Hr do to change that can
be seen as a reward.

4.5.4 Cola (Cost-Of-Living Adjustment)

FSIB have two components of COLA: the CPI-W and the employer-contracted COLA
percentage. CPI determines the rate of inflation and is compared yearly. When consumer prices
drop or if inflation has not been high enough to substantiate a COLA increase recipient do not
receive a COLA. If there is no CPI-W increase, then there is no COLA increase.

4.5.5 Motivation:
One of the main criteria for effective human resource management is motivation. For the desired
result of any organization, motivating the employees is very important. So, the FSIB Ltd. also
tries to motivate its employees. But the bank does not have a standard motivational process. It
motivates only with the help of increment. One thing about this increment is that it has no
specific period. The increments may be annual, semi-annual or quarterly, depending upon the
overall performance of the workers and the bank itself.
The human resource officer informed us that they believe in McGregor’s “Theory Y” and
emphasize the safety and love need for all employees. So, besides the increment, the bank
sometimes tries to motivate the employees by full-filling their required needs of the employee.
But as it is a centralized organization, management plays a big role with the administrative
department in determining these motivating factors. The bank is always cautious that all the

36
 hygiene factors are present in the environment and that if the employees are not motivated, at
least they are not de-motivated.

4.5.6 Reward System:

As the bank does not have any specific performance evaluation and appraisal system it does not
provide any standard reward system. If any employee can really impress the authority by his/her
extra-ordinary performance s/he is then usually financially rewarded, which comparatively has
a low effect on the employee who is in quite a higher level of the organizational ladder. On the
whole, increment is the only reward that the bank uses for motivating or appreciating its
employees.

4.5.7 Benefit Package:

Though the FSIB Ltd. does not have a satisfactory performance appraisal or reward system, it
has a very good benefit package. Firstly, for the staff level workers the bank provides uniform
and its maintenance expenditure (Officials and managers don’t need any uniform). The bank
also has a package of different types of leaves for all level of employees. The bank provides a
satisfactory annual leave, sick leave and casual leave. The bank has provided the opportunity for
the employees to have extra leave for emergency situation. Female workers get three months
long maternity leave twice in their working lives in this organization. Besides this leave package
the bank provides an opportunity for the employees to have a provident fund, which the bank
and the employee share equally (5% contributed by both the worker and the employer). The
bank provides “Fringe Benefits” for its executive level employees.

4.5.8 Indirect Compensation for Motivations

Incentive Pay
It includes with Bonus, Commission, Profit sharing, Stock option etc. When any employee receives
these as for their good performance, they obviously work more efficiently than before.

Provident Fund: First Security Islami Bank provides provident facility. Employees give 10% of
their salaries to the provident fund and employers must contribute on behalf of their employees.
The money in the fund is then held and managed by the government and eventually withdrawn by
retirees or, in certain countries, their surviving families. In some cases, the fund also pays out to
the disabled who cannot work.

37
Paid Time Off: Paid time off (PTO) is a benefit program offered by many companies which allows
employees to take off for a specific number of days and still receive compensation. First Security
Islami Bank also provide facility to its employees. This generally includes absences related to
vacation, illness or personal circumstances.

38
 Chapter Five
Findings &
Recommendation

39
5.1 Findings of the study:
• First Security Islami Bank Ltd. has its own training centre. There are on the job and
off the job training techniques in which the bank follows some of that technique,
but the bank cannot arrange off the job techniques which include video and films
show.
• The bank cannot practice proper First Security Islami Bank Ltd. guideline. The First
Security Islami Bank Ltd. has some objectives but the bank cannot all those
objectives.
• To evaluate employee’s performance First Security Islami Bank Ltd. cannot
evaluate their employee’s performance properly.
• First Security Islami Bank Ltd. is a truly online bank. Only the case section of the
branch is computerized. Hopefully the management decided to provide computers
for departments, which will bolster services of the bank.
• When a join stock comes to open an account, if the company happens to be an
existing one, the banker should demand copies of the balance sheet and profit and
loss account, which will reflect the financial growth of the company and its
soundness.
• Officers of the bank are competent even though many of them simply know the
working procedure of what they are doing but don’t know the philosophy behind
doing those.
• Project loan requires testing the feasibility of the project and judging the
marketability of the product. It requires infusion of knowledge of both the fields
marketing and banking. But the bank has hardly any officer with this kind of ability.

40
5.2 Recommendations:
• The bank should practice proper First Security Islami Bank Ltd. guideline. The
purpose of Human Resource Management is to improve the productive
contribution of people.
• To get effective and efficient employee, the bank should arrange proper training
and development programs.
• The entire HR department should be will informed regarding the employment
personal.
• Employee’s development is needed for the own interest of the bank.
• The bank should provide well direct compensation as well as direct to its staffs.
The bank should have job evaluated salary structure, which is most competitive
than other banks in the country.
• To evaluate employee’s performance the bank should follow promotion policy
properly.
• In order to get competitive advantage and to deliver quality service, top
management should try to modify the services.
• First Security Islami Bank Ltd. Limited (DBL) needs to advertise through various
Media about,
• Credit Cards
• ATM Cards
• Tele Banking &
• Other Product & Services
• Letter of Credit opening procedure and Margin requirement may be relaxed to the
qualified employees to keep motivating.
• Periodical performance appraisal and giving recognition and rewards to the
qualified employees to keep motivating them.
• Proper training needed for ensuring efficient performance of the employees.

41
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