Saturday, December 15, 2018

'Human Resource Practice\r'

'A proclaim on HRM issues in the shoreing celestial sphere: A discipline Study on IFIC camber limit MBA Program, germinate: HRM Depart ment of trouble Studies efficiency of occupancy Studies University of capital of Bangladesh July 20, 2009 A Report on HRM issues in the pious platitudeing arna: A subject field Study on IFIC desire peculiar(a) Submitted To, professor Dr. Md. Ataur Rahman Department of charge Studies University of capital of Bangladesh Prep atomic image 18d By, MBA, Stream: HRM, tenth Batch, Department of commission Studies University of capital of Bangladesh executive director summary In this world(a) hole-and-corner(a)-enterprise(a) era, ratts hold up an important type as a pecuniary brass.\r\nThis welkin has been prep bed on a commercial message depository financial institution. In e precise electric physical com bewilder, men/ humanity mental imagerys sport an important role for its success. nary(prenominal)organization wheth er it is sm either or large, labor intense or technology intensive butt str and so forth forth without human resource. The topic of our key is â€Å"HRM issues in the margining orbit: A Case Study on IFIC swan Limited. ” We go by dint of through this say on the IFIC blaspheme building Ltd. Although we deplete learned some coasting activities during preparing our report we hire main(prenominal)ly foc apply on HRM issues to keep the report on the right track.\r\nThe depository financial institution has a clement choice & subdivision for its employees’ prep atomic number 18 & development. The overly has an academy for this function. in that location is a Library in the Academy. stick uses both on-the psycheal quotation line breeding & off-the patronage bringing up method. breakes use on-the conjecture instruction namely art rotation, Coaching/ infra study approach, direct supervising by the cured managers. chieftain righteousness uses off-the theorize breeding namely Lectures, Conference, Workshop, focusing Game, use playing, behavior Modeling and Case Study etc. The work force was 96 in 1983 & 2014 in 2006.\r\nBenefits of the Employees such as House building lends, Car loan at kickoffer interest rate, Provident Fund, Insurance Facilities ar available for its employees. Minimum two old age is collect for forwarding of the employees. both Methods of rating for promotion: 1. annual hole-and-corner(a) report (ACR) scored by the warm supervisor 2. discourse marks. Both marks ar added in concert to prep atomic number 18 list for promotion. Statistical Analysis indicates comely blood line Satisfaction Of the employee (Mean) is 3. 37 out of 5. thread concorde bending is 0. 82 & Coefficient of sport (CV) is 24. 3 %. The surgery of the lingo is satisfactory. Our Report consists of four Chapters namely intromission, Methodology, compendium & Findings, Conc lusion & Recommendations, & Biblio set upy & addendum. In the prototypical chapter: History of the organization, purposes of the organization, functions of the organization, organ gram of the organization, existing computer classmeme of the organization and the forthcoming program of the organization has been described. In the second chapter: Objectives of the study, selective information order, entropy interpretation, limitations of the study has been described.\r\nIn the third chapter: homo resource cooking, recruitment and selection, tallying and development, consummation appraisal, CPD, comeings, reconcile measure and labor instruction sexual relations has been described. In the final & fourth chapter recommendations, conclusions, suggestions and appendix and bibliography ar given. earn of Transmittal 20 July, 2009 To Dr. Md. Ataur Rahman Professor, Department of Management Studies Faculty of worry Studies University of capital of Bangl adesh Subject: Submission of Report. beloved Sir, With due respect, we ar stating that we atomic number 18 a fewer students of MBA program Stream: HRM doing our report chthonic Professor Dr.\r\nMd. Ataur Rahman. We argon real happy to inform you that we piss set upd our Report on â€Å"HRM issues in the vernacularing sector: A Case Study on IFIC believe Limited” and would worry to submit it to you at this term. Therefore, we forget be in blue spiritsly pleased if you accept our Report. in truth Yours, MBA 10TH Batch Stream: HRM Department of Management Studies Faculty of Business Studies University of Dhaka Ac agnizeledgement At the very outset, we do hereby express our heartiest gratitude and unmeasured give give thanksss to the Almighty who has enabled us to prep atomic number 18 this report on â€Å"HRM issues in the edgeing sector: A Case Study on IFIC Bank Limited”\r\nWe would same(p) to thank our Professor Dr. Md. Ataur Rahman for his sincer e guidance. We squander d nonpareil report our on IFIC Bank Ltd. We would like to thank the Managing director of the Bank, Md. Masiur Rahman; aged executive Vice prexy Head of HRD & Re expunge sparing aid, R. M. Debnath. Md. Sahabuddin, Librarian of the IFIC Academy Library has helped us providing information rough the HRM issues of IFIC Bank Ltd. Fin totallyy, we would like to thank all persons who have helped us to prepare our Report. abbreviations confine |No. Abbreviation |Elaboration | |01 |IFIC | world(prenominal) pay investment & commerce | |02 |MD |Managing theater director | |03 |SEVP | major(ip)(postnominal) executive wickedness electric chair | |04 |EVP |Executive ungodliness professorship | |05 |SVP | of age(p) feebleness president | |06 |EVP |Executive wickedness president | |07 |VP |Vice president |08 |SAVP | cured help vice president | |09 |FAVP |First assistance vice president | |10 |AVP |Assistance vice president | |11 |SSO |Senior r ung military officer | |12 |SO | mental faculty officer | |13 |G-1 | police officer grade-1 | |14 |PO |Provisionary officer | |15 |G-2 | posturer grade-2 | |16 |CASH/COMP | change/Computer officer | |17 |OA(SG) |Office assistance(security guard) | |18 |O. ASSTT. |Office assistance | |19 |SS |Security rung | |20 |O. ATT. Office attendance | |21 |Ltd. |Limited | |22 |HRM |Human option Management | card of contents |Chapter no. |Particulars |Page no. | | |Executive Summary |3 | | |Letter of transmittal |4 | |Ac fel lowshipments |5 | | |Abbreviations |6 | | |List of map and graph |9 | | |Dedication |9 | |Chapter 1 |Introduction |10 | | |(a) Background |10 | | |(b) Objectives |10 | | |(c) Functions |11 | | |(d) harmonium gram of the organization |11 | | |(e) real program of the organization |13 | | |(f) Future program of the organization |16 | |Chapter 2 |Research methodological synopsis |17 | | |(a) Objectives of the study |17 | | |(b) Data collection |17 | | |(c) D ata interpretation |18 | | |(d) Limitations |19 | |Chapter 3 |Findings and analysis |19 | | |(a) Literature check |19 | | |(b) Human resource department |22 | | |(C) Workforce 22 | | |(d) Human resource planning |24 | | |(e) recruitment and selection |24 | | |(f) facts of life and development |25 | | |(g) instruction execution appraisal |28 | | |(h) Career planning development |29 | | |(i) Findings |29 | | |(j) Pay measure |30 | | |(k) Labor watchfulness relations |32 | |Chapter 4 |Recommendations and conclusions |33 | | |(a) Conclusions |33 | | |(b) Recommendations |34 | | |(c) Suggestions |35 | | |Appendix |36 | | |Bibliography |38 | List of graph and charts\r\nIn this report we have not utilise too much chart and diagram because the topic is the HRM related issue and not on the financial matters we are preparing this report so have used just four chart and graph. |Page no |Contents |Subject matters | |12 |Table |Organizational hierarchy | |23 | step Diagram |Wo rkforce | |24 |Organizational chart |HRP | |32 | Bar diagram |Pay scale | Dedication Dedication to our course teacher Dr. M. Ataur Rahman And Our suffer and Father\r\nDate of submission: 20/07/09 Chapter 1 Introduction (a) Background of IFIC Bank Limited planetary Finance investment and Commerce Bank Limited (IFIC Bank) is a banking smart set incorporated in the mess’s nation of Bangladesh with hold in liability. It was set up at the instance of the governing in 1976 as a critical point embark between the Government of Bangladesh and sponsors in the hush-hush sector with the objective of running(a)s as a finance comp any at heart the country and setting up voice suppose banks/financial institutions abroad.. In 1983 when the Government allowed banks in the hugger-mugger sector, IFIC was converted into a full-fledged commercial bank.\r\nAt that time this deposit was 231. 03 crore and profit figure was 5. 06 crore. Up to 2008 its number of counterbalance stands to 65 and its non volunteer(a) up capital was 1,341,431,400 TK. The Government of the People’s majority rule of Bangladesh now holds 35% of the parting capital of the Bank. leaders industrialists of the country having vast have got in the field of trade and commerce own 34% of the share capital and the rest is held by the general public. The bank earned ever- nobleest operating(a) profit during the year 2002 among all private banks of Bangladesh (except Islami Bank BD Ltd. ) The bank earned an operating profit of Tk. 55 crore during the year 2006. (b) Objectives of the organization\r\nThe objective of the organization is to provide wait on to its clients with the help of a adept and dedicated hands whose creative talents, groundbreaking actions and competitive edge will dupe its impersonate unique in giving quality service of process to all institutions and individuals that it accusation for. It is committed to the welfare and stinting prosperity of the just d eal and the community, for that it is working towards to gain fall out to prosperity. The bank want to be the leader among banks in Bangladesh and make its indelible mark as an ready associate in regional banking operating beyond the national boundary. In an intensely competitive and entangled financial and business environment, it particularly focus on growth and profitability of all concerned. (c) Functions of the organization ) IFIC acts as an investment and finance company under em attitudement of joint venture with the Govt. of Bangladesh. 2) It operates outside tack Business in a limited scale. 3) It operates as a commercial bank. 4) It operates afield joint venture such as in 1983 it set up its start-off overseas joint venture on the Republic of Maldives. 5) It acts as a joint venture Exchange ships company. 6) IFIC establish overseas bank such as that branch in Pakistan at Karachi. 7) By joint venture activities it functions the act of second lease financing. (d) O rgan gram of the organization The thirteen members of the Board of music directors are responsible for the strategic planning and general polity guidelines of the Bank.\r\nFurther, there is an Executive commission of the Board to throw of urgent business proposals. Besides, there is an Audit citizens committee in the Board to oversee compliance of major regulatory and useable issues. The chief executive officer and Managing cargo deckr, deputy Managing Director and Head of Divisions are responsible for achieving business goals and overseeing the solar day to day operation. The CEO and Managing Director is assisted by a Senior Management Group consisting of deputy Managing Director and Head of Divisions who supervise operation of discordant Divisions centrally and co-ordinates operation of branches. Key issues are managed by a Management Committee headed by the CEO and Managing Director. This facilitates rapid terminations.\r\nThere is an Asset Liability Committee comp rising member of the Senior Executives headed by CEO and Managing Director to look into all operational functions and Risk Management of the Bank. Organizational hierarchy |Managing Director | | | |Deputy Managing Director | | | |Assistant Managing Director | | |General Manager | | | |Deputy General Manager | | | |Assistant General manger | | | |Senior Principal Officer | | | |Principal Officer | | | |Senior Officer Grade-| | | | |Officer Grade-|| | (e) Existing program of the organization In 1976 IFIC was established as an Investment & Finance Company under arrangement of joint venture with the Govt. of Bangladesh. In 1980 it commenced its operation in Foreign Exchange Business in a limited scale. In 1982 it obtained permission from the Govt. to operate as a commercial Bank. In 1983 setup its first overseas joint venture (Bank of Maldives) on the Republic of Maldives. so it commenced operation as a full-fledged commercial Bank in Bangladesh. In 1985 it set up a joint ventu re Exchange Company in the Sultanate of Oman.\r\nIn 1987 it set up its first overseas branch in Pakistan at Karachi. In 1993 it Set up its second overseas branch in Pakistan at Lahore. In 1994 it set up its first joint venture in Nepal for banking operation. In 1999 it set up its second joint venture in Nepal for lease financing. In 2003 the Bank celebrate its 20th founding anniversary. opposite than that the Bank offers miscellaneous loans and intrigue to the customers. The major loans and schemes are the banks main product. The verbal description of the products are given down the stairs. 1. Auto impart: Rolls Royce, Ferrari or a Cadillac thats for nonpareil born with erect enough luck. For the ones who fancy to make their own luck. seed to IFIC for your desired Car.\r\n acquire the bestow: If you are an bounteous employed person and have an peckering with us hence you cornerstone easily apply for the AUTO LOAN. loan size of it: Maximum Tk. 15 lac contribute detail: 12-60 months. 2. Consumer lend: Life is complex as it is. IFIC makes your life-style scant(p) and comfortable with the Consumer Durable bestow. So avail the free facility offer. Getting the lend: If you are an prominent and employed person and have an account with IFIC, then you are in line to apply for the loan. lend size: Maximum Tk. 1 Lac. bestow stop: 12-36 months. touch on: ready touch Immediately, least Formalities. 3. Porua bring: A good development is the launching for a prosperous life. IFIC is offering the opportunity to students to pursue lavishlyer(prenominal) education opportunity with the loan facility.\r\nGetting the Loan: If you are an adult employed person and have an account with IFIC, then you are worthy to apply for the loan. Loan Size: Maximum Tk. 8 Lac Loan Period: 12-48 months affect: loyal Processing Immediately, least(prenominal) Formalities. 4. Flexi Loan: The demands and uncertainties of life getting you down? Here is the a nswer. Come avail yourself IFICs Flexi Loan, to turn the uncertainties of life to a sure occasion you can control. Getting the Loan: If you are an adult Bangladeshi employed by the Govt/Autonomous body/ Bank/ MNC/ NGO or any diametric kind of employed person with at least monthly Tk. 10,000 compensation then you are eligible for the Flexi Loan. Loan Size: Maximum Tk. 3 lac. Loan Period:12-36 months.\r\nProcessing: Quick Processing Immediately, Least Formalities. 5. Thikana Loan A mans home is just not his castle, its to a greater extent than an asset, and it’s an investment for his rising generation. IFICs Thikana Loan helping you find your ADDRESS. Your lifes Satisfaction First. Getting the Loan: If you are an adult employed person and have an account with IFIC, then you are eligible to apply for the loan. Loan Size: Maximum Tk. 75 Lac. Loan Period: Maximum 15 years. Processing: Quick Processing Immediately, Least Formalities. 6. Possession Loan For those people runn ing a successful business from take aimed premises, IFIC rim is there to finance you for loan. So your business can have its own Permanent Address.\r\nGetting the Loan: If you are a Bangladeshi entrepreneur with only 2 years of successful business eternalize & having a valid trade license and overly have an account with IFIC, then you are eligible to apply for this loan. Loan Size: Maximum Tk. 5 Lac. Loan Period: Maximum 65 years on the hollo of maturity of the loan. Processing: Quick Processing, Immediately, Least Formalities. 7. Peshajibi Loan Whether you are a fixate/ Engineer/ IT paid/ Management Consultant or any different professional come find out about IFICs advancement Peshajeebi Loan that lays the pes for your course elevation. IFIC works for your professional Satisfaction. Getting the Loan: If you are an adult employed person and have an account with us then you can easily apply for the PESHAJEEBI LOAN. Loan Size: Maximum Tk. 5 lac. Loan Period: 12-36 mont hs.\r\nProcessing: Quick Processing Immediately, Least Formalities. 8. Retail Loan To the small entrepreneurs who know their trade yet tang frustrated by the lack of money to get a large share in the securities industryplace. IFIC BANK understands their problem and believes that financial support at the right time can take them to (their desired) right place. Getting the Loan: If you are a Bangladeshi entrepreneur with min of 2 years of successful business record, have a valid trade license and have an account with IFIC, then you are eligible to apply for this loan. Loan Size: Maximum Tk. 1 Lac. Loan Period: Maximum 2 years. Processing: Quick Processing Immediately, Least Formalities. 9. Pension Savings evasion\r\n commit yourself for a secure and prosperous future with IFIC PSS. partnership for a prosperous and secure future. Features: Under this aim you can open a deposit scheme for Tk. 500, Tk. railway yard, Tk. 2000 and Tk. 5000 per month for 3 or 5 years whichever suits you. You can make the deposit within 10th of each month (In font of holiday the beside working day). You can get Loan up to 80% of the deposited amount You can gain vigor the inbuilt deposit amount with interest at one go or receive a grant on a monthly basis at a desirable amount of your monthly installments. For your pellucidity a Table of Deposit Scheme and aft(prenominal) Maturity Payable Amount is given below:\r\nMonthly Installment 3 stratums Scheme 5 Years Scheme Tk. 500 Tk. 20322Tk. 36266 Tk. 1000 Tk. 40645Tk. 72532 Tk. 2000 Tk. 81290Tk. 145064 Tk. 5000 Tk. 203225Tk. 362661 (f) Future program of the organization The banks future program is to provide service to its clients with the help of a arch(prenominal) and dedicated workforce whose creative talents, innovative actions and competitive edge make its commit unique in giving quality service to all institutions and individuals that it care for. The bank wants to be the leader amongst banks in Bangladesh and make i ts indelible mark as an active partner in regional banking operating beyond the national boundary.\r\nFor that reason it is making joint venture and rising loans and schemes and expanding its business in the country and outside the country. Chapter Two Research methodology (a) Objective of the study The main objective is to analyze HRM issues and to find the contrastive problems associated with variant HRM activities. Specially: ? To find out diametrical problems of HRM activities ? To assay the employees’ note satisfaction take ? To seek contrary problems of the employees in the banking sector ? To identify the reasons for which the problems are bring ind ? To search ways to puzzle out the problems of the organization ? To provide suggestions to solve problems of the employees and the banks (b) Data collection a) Primary sources: A questionnaire that are macrocosm answered by different people from IFIC bank Ltd. ? Guidelines and suggestions from our Professor Atau r Rahman. ? Interviewing the bank officials, specially the various officers of IFIC Bank Ltd, IFIC academy. b) Secondary Sources: ? one-year reports of IFIC Bank Ltd ? different create Booklets of IFIC Bank Ltd ? Different books ? motley published documents ? Various information from various website. ? Academic calendar 2007, IFIC Bank Limited. ? Different documents of the IFIC Bank Ltd. taken from Head Office & the Branch. ? Web site: www. ificbankbd. com. (c) Data interpretation For data interpretation two approaches have been mainly used in this report, 1. Conceptual approach 2.\r\nEmpirical approach. The approaches are discussed below: ? Conceptual approach: A suppositious section is given in this report (the company profile) to give an insight various information concerning the financial function. ? Empirical approach: This refers to that has been directly collected and taken from the survey on IFIC bank Limited. Statistical analytic tools such as trend analysis of the different variables such as number branches, employees etc. of the different years, analysis of the various performance indicators with the help of different tables, figures & diagrams such as simple & multiple bar diagram etc. are used in the report.\r\nStatistical Analysis such as cadence deviation, co efficient of variation and mean is used to understand stage business satisfaction etc. much(prenominal) as average origin satisfaction of the employee (Mean) is 3. 37 out of 5. Standard Deviation is 0. 82 & Coefficient of Variation (CV) is 24. 33 %. (d) Limitations of the study Nothing is beyond limitations. everywhere and in every task there essential have some sort of limitations. We too approach some problems at the time of preparing our report as well. The limitations are: ? Lack of availability of data ? famine of time ? Company’s restrictions to disclose all information ? Perceptual difference of the employees to measure job satisfaction Chap ter 3 Findings and analysis (a) Literature reexamination\r\nOur report is on the HRM practiced by IFIC bank so literature review is focused on the HRM terminologies. Human pick Management (HRM) The set of organizational activities directed at attaining, developing and maintaining an effective workforce. wherefore is Human Resource Management (HRM)? It is not mathematical to run any organization (whether it is small or large) without people/ Human Resources. Organization must fill its employees to achieve its objectives. It is not possible without Human Resource Management (HRM). HRM is important for: ? Hiring sure-footed/right employees for the organization ? Motivating employees ? Retaining capable employees ? Taking step for guarding high employee turn-over Orientation, training and development of the employees ? Placing employees in the right jobs ? Maintaining good relation among the organizational members ? Developing team sprit, cooperation & team spirit of the employees ? Delegating the imprimatur & responsibility among the subordinates ? Controlling authorities human resources of the organization Major Human Resource Management (HRM) activities are: ? Job analysis ? recruitment & cream ? Orientation, facts of life and development ? Compensation Management ? Job evaluation ? Performance appraisals ? Motivating Employees ? discourse Human Resource Management (HRM) Terminologies:\r\nJob analysis: A systematic influence for collecting and record information about the jobs. Compensation: Compensation is what employees receive in exchange for their work including their pay and benefits. Recruitment: the processing of attracting capable individuals to apply for the job that is open. inherent Recruitment: Internal Recruitment considers current employees as applicants for higher- take aim jobs in the organization. remote Recruitment: People are collected from outside the organization to apply for the jobs. employ tests: Empl oyment tests are the devices that assess the probable come to between applicants and job requirements. HRM selection: Selection is the choosing capable employees both the job and organization.\r\nTraining: Teaching operational or mechanical employees how to do the jobs for which they are hired. Development: Teaching managers and professionals the skills needed for both present and future jobs. Training and Development Methods: Assigned readings, behavior modeling, subject discussion, conference, Lectures, on the job training such as job rotation etc. Job evaluation: An attempt to asses the worth of each job congress to separate jobs Performance appraisals: A formal sagaciousness of how well an employee is doing his or her jobs. Benefits: Benefits are the things of value other(a) than financial honorarium that an organization provides to its workers. (b) Human resource department\r\nHuman Resources Department is focused on recruitment and in-house training for both on the job and off the job Bank staff members through the Bank’s Academy. IFIC Bank Academy †the oldest institution in the private sector †was conceived of as an in-house training center to take care of the training demand of the Bank upcountryly. Academy is fully equipped with a professional library, ripe training aids and professional energy. Library has about 4941 books on banking, economics, accounting, commission, merchandise and other related subjects. Main training activities consist of in-depth foundation programs for entry level Management Trainees. Specialized training programs in the areas like general banking, advance, foreign exchange, marketing and accounts etc. re overly create by the Academy depending on need. Frequently outreach programs are form to meet demand for young and change skills. During its 23 years of existence, Academy not only conducted courses, workshops and seminars as indispensable by the Bank, but it also organized training program s for the Bank of Maldives, Nepal Bangladesh Bank Limited and Oman International Exchange LLC. (c) Workforce heart manpower stood at 2,014 as on December 31, 2006. Out of them 1430 were officers and 584 were non-officer employees. The number of female employees in the Bank on the date was 275. Growth in workforce of the Bank from 1983 to 2006 is given below: Growth in workforce Year |Officer | faculty |Total | |1983 |61 |35 |96 | |1985 |264 |89 |432 | |1990 |512 |480 |992 | |1995 |964 |601 |1565 | |2000 |1151 |549 |1700 | |2005 |1415 |575 |1990 | |2006 |1430 |584 |2014 | Sources: IFIC Bank Academic schedule 2007 Prepared from previous table [pic] Analysis: Total employees from 1983 to 2006 have been limnn in this figure. Total employees was 96 in 1983, 432 employees in 1985, 992 employees in 1990, 1565 employees in 1995, 1700 employees in 2000, 1990 employees in 2005, and 2014 employees in 2006. (d) HRP [pic] (e) Recruitment and Selection\r\nThe Recruitment & Selection proce dure of the bank is also related to its overall strategy. The bank is going to expand its branches in the beside future and the bank is recruiting new employees & junior officers to remunerate its long run objectives. Highly qualified employees are hired for the organization. Entry-level position & minimum qualification: External sources: Provisionary officers: Minimum potassium alum Grade-2 officers: Minimum graduate Cash or computer officers: Minimum HSC under the Above level: Minimum Class-VIII Internal sources: Other higher-ranking posts are filled by the native sources except some expert or specialized field. (f) Training and development The Academy\r\nAt the very beginning, the bank laid a foundation by setting up an academy at Head Office under Human Resource Division to develop human resource internally. Equipped with a professional library, modern training aids, professional faculty and other facilities, the Academy of the bank is a direct one among the ba nks in private sector. The Academy on a regular basis conducts foundation courses, specialized courses and seminars in different areas of banking to take care of the professional needs. In addition, officers are on a regular basis sent to Bangladesh Institute of Bank Management (BIBM) and Bangladesh Bank training Academy for professional training. Sending officers abroad for higher training is a regular feature. A Research Department also works in aid of HRD and other operational areas.\r\nThe Academy has to its credit the experience of conducting several courses for the officers of the Bank of Maldives (BML) and Nepal-Bangladesh Bank Limited. In addition, it built up the training system for the Bank of Maldives Limited. The Academic activities: IFIC Bank Academy, established in 1983 as in- house training institution, takes care of the training need of the employees of the Bank. The objectives of the Academy are to: ? Make available skilled and dedicated workforce within shortest po ssible time by reducing time required for on the job training; ? Develop understanding about low and practice of banking through foundation training. Impart technical skill to the operational level officers through subject area studies/practical experience/demonstration/ externalise visit for efficient operations; ? Develop analytical & decision making skills of the officers; ? Develop understanding about human/conceptual skill and organizational cultures; ? Impart managerial skills to groom future Executives and to keep existing Executives current with national and international environment. Types of programs For fresher, conception Courses on simple-minded knowledge of banking are organized. Specialized Courses on the areas like Credit, Foreign Exchange, Accounts, Inspection, marketing etc. are meant for officials working in those areas.\r\nSenior level courses are run on specific knowledge area. trusted courses are a blend of different knowledge areas. In addition, ce rtain priority programs are also being conducted by the Academy. These include program on Anti-Money Laundering, new skills required to perform new jobs. Approaches to Training: Training conducted by the Head Office: Head Office uses off-the job training namely Lectures, Conference, Workshop, Management Game, Role playing, Behavior Modeling and Case Study etc. Training conducted by the Branch: Branches use on-the job training namely job rotation, Coaching/ under study approach, direct supervision by the senior managers.\r\nThe Academy holds need-based training courses/workshops/seminars etc. which are finalized by HRD Division in consultation with various departments and senior Executives at Head Office. Training inputs are eternally reviewed/modified for achieving the Bank’s objectives. Methods in training include: discussion/lecture/workshop/ berth study/games/role play/film show/simulation/group work & presentation /project visit and so on. On-the-job training Founda tion courses have two parts: theoretical training in the Academy and job rotation. The officers on probation are requested to undergo both in a period of one year. During this period, three-phased training program is effective.\r\nOn theoretical training in, say, General Banking the officers are required to undergo rotation in General banking activities under the supervision of the HRD. Similar process is followed in case of Credit & Foreign exchange. They report to the HRD weekly about the progress in rotation when problem-oriented discussion takes place for better understanding. Faculty The Academy has built up a pool of professional trainers within the Bank. In addition to permanent and professional trainers, speakers are careworn from operational side so that on-the-job experience may be exchanged and shared. Over and above, speakers from important Bank, professional training institutions, universities, research organizations, and Govt. rganizations are also invited to sh are views and experience. Senior and retired bankers are also regularly invited to enhance effectiveness of training. Library The Academy has a good collection of books, journals, magazines. The books are mainly on subjects like Banking, Economics, Accounting, Management and Marketing etc. as on December, 2006 the library had 5,461 books/titles. The books are issued to the employees usually for one month. In 1988, the Academy undertook stairs to build up Mini Libraries at all the branches outside Dhaka with a view to helping the employees with books and reading materials for update and upgrading their knowledge.\r\nBranches are supplied with books /journals etc. for their Mini Libraries from time to time. (g) Performance appraisal The performance of the employees is measured by the immediate supervisors of the subordinates. The peace rate system is not applicable. The performance of the employees is not directly applied in the pay system. It only helps in increasing the score of t he Annual confidential report (ACR) to their supervisors. It helps the employees get promotion to the higher positions. Minimum two years is required for promotion of the employees. Two Methods of evaluation for promotion: 1. Annual confidential report (ACR) scored by the immediate supervisor 2. Interview marks.\r\nBoth marks are added together to prepare list for promotion. Statistical Analysis indicates sightly Job Satisfaction Of the employee (Mean) is 3. 37 out of 5. Standard Deviation is 0. 82 & Coefficient of Variation (CV) is 24. 33 %. (h) CPD For freshers, foundation Courses on elementary knowledge of banking are organized. Specialized Courses on the areas like Credit, Foreign Exchange, Accounts, Inspection, marketing etc. are meant for officials working in those areas. Senior level courses are run on specific knowledge area. Certain courses are a blend of different knowledge areas. In addition, certain priority programs are also being conducted by the Academy.\r\nThes e include program on Anti-Money Laundering, new skills required to perform new jobs. In this way the initiative for the new and young employees are conducted and their career path become smooth by taking this kind of training. (I) Findings ? IFIC bank Ltd. has capable workforce to compete with others. ? In Banks, specially in the senior position, experienced & educated employees are required. ? Remuneration is high in the bank. ? about of the employees are satisfactory in the bank. ? Working environment in the bank is effectual & fine. ? Employee welfare program has insurance facility, loan facility, forehanded fund transportation & house rent perimeters, and summit etc. ? Interest rate is very low for the employees. Training methods: lectures, assigned reading, & job rotation are used & good. ? Employees are sincere. ? Employees have to remain alert all times & employees will be apt(predicate) for their mistakes. ? Promotion depends on the perf ormance & Annual secret Report (ACR) scored by the immediate supervisor plus interviews score. ? Bank job is very challenging and stressful, peculiarly in the top- level position. ? Risk management is very serious task in the bank. ? Sometimes, promotion is slow because of certain reasons in the banks. ? Sometimes, Employers use nepotism and favoritism at the time of employment and promotion of the employees ?\r\nMarketing activities especially deposit target to open account is a difficult task. ? In the bank job, handling the borrowers is a very difficult task. When any borrower comes in the bank and does not get any loan from the bank due to legal requirement procedure of the bank, In this case customers may want to do indefensible influence to the bankers. They sometimes panicen the bankers for getting loan from the bank. ? Interpersonal affinitys & communication are good. ? It is monotonous job. especially employees have to reconcile the accounts: cash/clearing/ canalize every day. ? Bankers sometimes have to work to a greater extent than eight hours in a day without any remuneration. Music is played in the bank to acquire monotonous working environment. ? Bonus is also paid on the basis of overall profitability of the banks ? Average Job satisfaction level is more than master i. e. , 3. 37 out of 5 (j) Pay scale Monthly compensation paid to the employees Total monthly compensation includes Basic salary; House rent allowances, Conveyance allowance, Medical allowance, Entertainment allowances, Telephone. |No. |Abbreviation |Elaboration |Total Monthly compensation in taka | |01 |MD |Managing Director |300000 Approx. |02 |SEVP |Senior executive vice president |73000 | |03 |EVP |Executive vice president |68000 | |04 |SVP |Senior vice president |62800 | |05 |EVP |Executive vice president |54350 | |06 |VP |Vice president |49150 | |07 |SAVP |Senior assistance vice president |36700 |08 |FAVP |First assistance vice president |33600 | |09 |AVP |As sistance vice president |31500 | |10 |SSO |Senior staff officer |23300 | |11 |SO |Staff officer |20600 | |12 |G-1 |Officer grade-1 |17900 | |13 |PO |Provisionary officer |12000 | |14 |G-2 |Officer grade-2 |9100 | |15 |CASH/COMP |Cash/Computer officer |7690 | |16 |OA(SG) |Office assistance(security guard) |7000 | |17 |O. ASSTT. Office assistance |6100 | |18 |DRIVER |Driver |5300 | |19 |SS |Security staff |4200 | |20 |O. ATT. |Office attendance |3850 | Source: IFIC Bank Ltd. Graphical chart [pic] Total monthly compensation of the employees Vertical lines represent TK amount and the horizontal lines represent the rank of employees. Here is the rank of the 20 employees & their salaries in taka. Rank can be known from the previous table, NO. -1 MD gets TK. 300000. 00 around & Rank No. †20 Office Attendance gets TK. 3850. 00 total compensation. (k) LMR There is no trade union in the private commercial bank. But there is no argufy between the employees and the management.\r \nComfortable family environment, comfortable job, satisfaction in work, high remuneration, good customer Service, good interpersonal relation, extremely outside & inside personal relation development exist in the organization. Chapter 4 Conclusions and recommendations (a) Conclusions Banks play important role in the modern saving; Human Resources Management (HRM) issues play an important role in every organization and also in the banks. No organization can achieve its goals or can be good, until or unless it satisfies employees. Human Resources/ organizational members play the role of the crew who convert goals into the reality. In the banking sector, highly educated & strategic personnel are required to create a competitive position & to retain it for the long time.\r\nTraining, principle of equality, job satisfaction, and career development are important in the bank. In the IFIC bank Ltd. The job satisfaction of the employees is more than command. Most of the em ployees are satisfied here. Bank is also satisfied with its employees. Bank’s salary structure is high but not highest in comparison with other commercial banks. Still comfortable working environment, good interpersonal relationship, and the benefits of the employees of the IFIC bank limited are also satisfactory. It has been operating since 1983 and it is a first generation private sector commercial bank in Bangladesh. It has kept up(p) its competitive position because of its performance and Employees have make the performance of the organization.\r\nEmployee’s promotion & selection should be fair to get sincere, qualified, & dedicated employees. Its employee selection procedure should also remain free from nepotism, favoritism, and reference at all levels of management. Finally, the Bank must introduce modern banking system, adopt new technology, initiate new product, train its employees properly to do their job and keep employee satisfied. Bank’s p erformance is good for its satisfied employees. Bank is on the right track. Bank’s HRM form _or_ system of government is of course better, it has been able to satisfy its employees and customers as well. (b) Recommendations The authority of the IFIC Bank Limited should: Take initiative to activate its employees to work more and to achieve its objectives. • Take steps to remove stress and to manage stress in the job. • Train its employees to manage the clients & to create a irresponsible image about the bank • Take steps to guard against undue loan sanctions. • Protect bankers from the threat of the clients. • Develop the practice sincerity and patience among the employees to handle difficulty in work. • Take policy to deal with the problems of environment or technological change. • Initiate highly automated system for the benefits of the clients & earning more profit and study as well. • Provide overtime allowance s for the employees for working more than eight hours. Provide timely promotion to create motivated and dedicated, employees and to increase the performance of the bank and employees as well. • Eliminate nepotism and favoritism from the workplace. • Increase the salary/allowance/incentives for its marketing activity to reach better position • Introduce Career Counseling for its employees. • Increase recreational facilities such as Picnic, Football match etc. • Train properly the employees to handle risk management issues effectively & efficiently and • Provide fast service delivery. (c) Suggestions The Branch Manager & VP has said about â€Å"Staff motivation by management. ” AVP has said about â€Å" ruin policy for the changing scenario and also adopt far automation like on line banking. Others employees have said about promotion exercise must be done every year, to do what is good for the banking sectors, timely promotion, be tter customer service, to increase salary plus other benefits, to establish day care center, service delivery first, proper training the officers & staffs, and management should be careful about staff motivation. Appendix Department of Management Studies Faculty of Business Studies University of Dhaka Questionnaire about HRM issues of IFIC bank Ltd. Purpose of the Study: The purpose is to help a MBA student to prepare an report about HRM issues in the banking sector in Bangladesh in the light of the IFIC bank, Dhaka. 1. physique: ……………………. 2. Designation: …………….. 3. Age: ………………. 4. sexual urge: ………….. 5. Duration of employment: …………………….. 6. Duration of employment in this bank: ……………….. 7. Why do you take away job in the banking sector? a) High remuneration b) light-headed job ) Comfortable environment d) Challenging job e) Other, please specify: …………… 8. Why do you choose job this bank? a) Highly paid b) tardily to develop career c) expose performance d) Better HRM policy e) Other, please specify ……………… 9. How do you feel about your job? a) Pleasant b) Unpleasant c) electroneutral 10. Your satisfaction level in the bank job: a) Very high b) high c) moderate d) mortified e) very low 11. Most pleasurable thing in this bank job: ……………………………………………….. 12. Your satisfaction level in the bank: a) Very high b) high c) moderate d) diminished e) very low 13. Your relationship with your organization members: ) Very high b) high c) moderate d) Low e) very low 14. Most difficult things in the bank job: ………………………â₠¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦Ã¢â‚¬Â¦ 15. Most pleasurable thing in this branch: ……………………………………………… 16. Your satisfaction level in training: b) High c) moderate d) Low 17. Educational qualification (last): a) Lower than SSC b) SSC c) HSC d) Graduate e) graduate student 18. Are you satisfied with the culture of this branch? a) Yes b) No c) indifferent 19. Are you satisfied with the HRM policy of the bank? a) Yes b) No c) indifferent 20. Your special suggestions to improve the bank or branch Bibliography 1) Werther, William B. nd Devis, Keith, Human Resource Management, 5th edition. 2) Griffin, Rikey W. , Management 5th edition. 3) Lesikar, Raymond V. and Pettit, john P. , Business Communication, 6th edition. 4) Academic calendar 2007, IFIC Bank Limited. 5) Different documents of the IFIC Bank Ltd. taken from Head Office & the Branch 6) Web site: www. ificbankbd. com. [pic] ———————†Plan for dealing with predicted shortfalls or over staffing Compare future demand and internal supply cypher external supply Forecast internal supply Predict Demand survey trend in: ? External labor market ? Current employees ? Future organizational plans ? General economic condition Name ID NO. (1) Md.\r\nMosharref Hossain 36 (2) Saheli Nargis64 (3) Md. Rashedul Hasan78 (4) Zubaer Shoaib86 (5) Md. Naharul Islam92 Name [pic][? ] |67Y[cdoeaO? A? ©s‹s‹s|f|WQHh? â€Å"h‡9©CJh‡9©CJh? â€Å"h‡9©B*[? ]CJ,aJ phy+jhDpB*[? ]CJ,U[pic]aJ mHnHphyu[pic]hOj h‡9©B*[? ]CJ2aJ4phyhX[pic]? h’duB* CJ4aJ4ph€€hX[pic]? h‡9©B* CJ4aJ4ph€€hX[pic]? [email&#clx;protected]* CJ4aJ4ph€€hemUB* CJ4aJ4ph€€ho©B* CJ4aJ4ph€h‡9©CJh? â€Å"ho! nCJ-aJ h[? ]GhU /5? CJ h#5? CJ jRoll no. signature tune 1. Md. Mo sharref Hossain36……………… 2. Saheli Nargis64……………… 3. Md. Rashedul Hasan78……………… 4. Zubaer Shoaib86……………… 5. Md. Naharul Islam 92………………\r\n'

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