Human Resource Practice

A Report on HRM issues in the slanging sector A Case field of operations on IFIC imprecate particular(a) MBA Pro gm, Stream HRM Department of worry Studies Faculty of occupation Studies University of great of Bangladesh July 20, 2009 A Report on HRM issues in the edgeing sector A Case Study on IFIC believe check Submitted To, Professor Dr. Md. Ataur Rahman Department of anxiety Studies University of Dhaka Prep atomic number 18d By, MBA, Stream HRM, 10th Batch, Department of Management Studies University of Dhaka Executive summary In this global combative era, patoiss gain an central role as a pecuniary institution.This make-up has been situated on a commercialised aver. In ein truth makeup, men/ valet picks play an important role for its success. no arranging whether it is sm completely or large, labor intensive or technology intensive cig atomic number 18tte move with unwrap human resource. The topic of our composing is HRM issues in the relying sector A Case Study on IFIC slang Limited. We drive home done this report on the IFIC depose Ltd. Although we possess learned some banking activities during preparing our report we have mainly foc usanced on HRM issues to keep the report on the right track.The Bank has a merciful Resource & social class for its employees formulation & takement. The also has an academy for this purpose. on that point is a Library in the Academy. Bank uses both on-the crease prep atomic number 18 & off-the speculate eruptment method. Branches use on-the melodic phrase training namely job rotation, Coaching/ under workplace approach, direct supervision by the fourth-year managers. pointedness billet uses off-the job training namely Lectures, Conference, Workshop, Management Game, Role playing, Behavior mildew and Case Study and so on The workforce was 96 in 1983 & 2014 in 2006.Benefits of the Employees much(prenominal) as plate building loans, Car loan at lower interest rate, Provident Fund, Insurance Facilities be forthcoming for its employees. miniskirtmum two historic detail is needed for promotion of the employees. Two Methods of evaluation for promotion 1. Annual mysterious report (ACR) scored by the immediate supervisor 2. Interview marks. Both marks are added together to prepare leaning for promotion. Statistical Analysis indicates Average romp Satisfaction Of the employee (Mean) is 3. 37 out of 5. Standard variance is 0. 82 & Co effectual of Variation (CV) is 24. 3 %. The performance of the bank is satisfactory. Our Report consists of four Chapters namely Introduction, Methodology, digest & Findings, end point & Recommendations, & Bibliography & Appendix. In the show era chapter History of the organization, physical objects of the organization, functions of the organization, organ gram of the organization, existing architectural plan of the organization and the future tense design of the organization has been described. In the second ch apter Objectives of the muse, data collection, data interpretation, limitations of the study has been described.In the third chapter world resource planning, enlisting and selection, training and development, performance appraisal, CPD, findings, pay scale and labor management transaction has been described. In the final examination & fourth chapter recommendations, conclusions, suggestions and appendix and bibliography are given. Letter of Transmittal 20 July, 2009 To Dr. Md. Ataur Rahman Professor, Department of Management Studies Faculty of Business Studies University of Dhaka Subject Submission of Report. Dear Sir, With due respect, we are stating that we are a few students of MBA program Stream HRM doing our report under Professor Dr.Md. Ataur Rahman. We are very happy to inform you that we have wide-awake our Report on HRM issues in the Banking sector A Case Study on IFIC Bank Limited and would exchangeable to submit it to you at this cartridge clip. Therefore, we will be passing enraptured if you accept our Report. Sincerely Yours, MBA tenth Batch Stream HRM Department of Management Studies Faculty of Business Studies University of Dhaka Acknowl marchment At the very outset, we do hereby express our heartiest gratitude and countless conveys to the Almighty who has enabled us to prepare this report on HRM issues in the Banking sector A Case Study on IFIC Bank LimitedWe would like to thank our Professor Dr. Md. Ataur Rahman for his sincere guidance. We have done report our on IFIC Bank Ltd. We would like to thank the Managing managing director of the Bank, Md. Masiur Rahman elder Executive wickedness President Head of HRD & Research, R. M. Debnath. Md. Sahabuddin, Librarian of the IFIC Academy Library has helped us providing randomness more or less the HRM issues of IFIC Bank Ltd. Fin bothy, we would like to thank all persons who have helped us to prepare our Report. Abbreviations Used No. Abbreviation blowup 01 IFIC Inter subject field fi nance investiture & commerce 02 MD Managing Director 03 SEVP Senior decision maker frailness hot seat 04 EVP Executive misdeed president 05 SVP Senior vice president 06 EVP Executive vice president 07 VP Vice president 08 SAVP Senior assistance vice president 09 FAVP First assistance vice president 10 AVP assist vice president 11 SSO Senior staff officeholder 12 SO Staff officer 13 G-1 officeholder grade-1 14 PO Provisionary officer 15 G-2 Officer grade-2 16 bullion/COMP funds/Computer officer 17 OA(SG) Office assistance(security guard) 18 O. ASSTT. Office assistance 19 SS Security staff 20 O. ATT. Office attendance 21 Ltd. Limited 22 HRM Human Resource Management parry of contents Chapter no. Particulars Page no. Executive unofficial 3 Letter of transmittal 4 Acknowledgements 5 Abbreviations 6 joust of chart and graph 9 Dedication 9 Chapter 1 Introduction 10 (a) Background 10 (b) Objectives 10 (c) Functions 11 (d ) organ gram of the organization 11 (e) Existing program of the organization 13 (f) Future program of the organization 16 Chapter 2 Research methodology 17 (a) Objectives of the study 17 (b) Data collection 17 (c) Data interpretation 18 (d) Limitations 19 Chapter 3 Findings and analysis 19 (a) Literature review 19 (b) Human resource department 22 (C) Workforce 22 (d) Human resource planning 24 (e) enlisting and selection 24 (f) develop and development 25 (g) Performance appraisal 28 (h) public purport planning development 29 (i) Findings 29 (j) Pay scale 30 (k) Labor management 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 chartsIn this report we have non use too much chart and plat because the topic is the HRM relate issue and not on the pecuniary matters we are preparing this report so have used ju st now four chart and graph. Page no Contents Subject matters 12 Table Organizational hierarchy 23 Bar Diagram Workforce 24 Organizational chart HRP 32 Bar draw Pay scale Dedication Dedication to our course t to each oneer Dr. M. Ataur Rahman And Our M oppositewise and stupefyDate of submission 20/07/09 Chapter 1 Introduction (a) Background of IFIC Bank Limited International finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the Peoples Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a articulate jeopardise among the Government of Bangladesh and sponsors in the head-to-head sector with the objective of working as a finance company within the outlandish and mount up joint venture banks/financial institutions abroad.. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank.At that time this deposit was 231. 03 crore and profit figure was 5. 06 crore. Up to 2008 its number of sub air division stands to 65 and its p abet up metropolis was 1,341,431,400 TK. The Government of the Peoples Republic of Bangladesh now holds 35% of the make do capital of the Bank. Leading industrialists of the country having vast experience 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-highest direct 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 organizationThe objective of the organization is to deliver the keens service to its clients with the help of a clevernessed and apply workforce whose creative talents, innovative actions and private-enterprise(a) edge will make its position unique in giving quality service to all institutions and individuals that it care for. It is com mitted to the welfare and economic prosperity of the spate and the community, for that it is working towards to gain progress to prosperity. The bank want to be the leader among banks in Bangladesh and make its indelible mark as an active collaborator in regional banking operating beyond the national boundary. In an intensely competitive and complex financial and personal line of credit purlieu, it particularly focus on growth and profitability of all concerned. (c) Functions of the organization ) IFIC acts as an investment and finance company under arrangement of joint venture with the Govt. of Bangladesh. 2) It operates unknown Exchange Business in a limited scale. 3) It operates as a commercial bank. 4) It operates overseas joint venture such(prenominal) as in 1983 it set up its first overseas joint venture on the Republic of Maldives. 5) It acts as a joint venture Exchange Company. 6) IFIC establish overseas bank such as that branch in Pakistan at Karachi. 7) By joint vent ure activities it functions the act of second lease financing. (d) Organ gram of the organization The thirteen members of the Board of Directors are responsible for the strategic planning and overall policy guidelines of the Bank.Further, on that point is an Executive Committee of the Board to dispose of urgent business proposals. Besides, on that point is an Audit Committee in the Board to oversee compliance of major regulatory and operational issues. The CEO and Managing Director, Deputy Managing Director and Head of Divisions are responsible for achieving business goals and overseeing the 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 various 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 speedy decisions.There is an Asset Liabi lity Committee comprising member of the Senior Executives headed by CEO and Managing Director to prospect into all operational functions and Risk Management of the Bank. Organizational hierarchy Managing Director Deputy Managing Director subordinate 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. Then it commenced operation as a full-fledged commercial Bank in Bangladesh. In 1985 it set up a joint venture Exchange Compan y in the Sultanate of Oman.In 1987 it set up its first overseas branch in Pakistan at Karachi. In 1993 it sterilise 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 celebrated its 20th founding anniversary. Other than that the Bank offers various loans and project to the customers. The major loans and schemes are the banks main product. The description of the products are given below. 1. Auto impart Rolls Royce, Ferrari or a Cadillac thats for one born with good luck. For the ones who dream to make their own luck. Come to IFIC for your desired Car.Getting the add If you are an enceinte employed person and have an account with us then you mint substantially wear for the AUTO LOAN. Loan size of it Maximum Tk. 15 lac Loan limit 12-60 months. 2. Consumer Loan lifespan is complex as it is. IFIC makes your life- style easy and comfortable with the Consumer Durable Loan. So avail the easy set offer. Getting the Loan If you are an adult and employed person and have an account with IFIC, then you are eligible to follow up for the loan. Loan surface Maximum Tk. 1 Lac. Loan Period 12-36 months. treat contiguous Processing Immediately,least Formalities. 3. Porua Loan A good education is the fundament for a successful life. IFIC is whirl the opportunity to students to pursue high education opportunity with the loan facility.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. 8 Lac Loan Period 12-48 months Processing Quick Processing Immediately, least Formalities. 4. Flexi Loan The demands and un certainties of life getting you down? Here is the answer. Come avail yourself IFICs Flexi Loan, to turn the uncertainties of life to a certainty you can control. Getting the Loan If you are an adult Bangladeshi employed by the Govt/Autonomous body/ Bank/ MNC/ NGO or any other kind of employed person with at least periodic Tk. 10,000 salary then you are eligible for the Flexi Loan. Loan Size Maximum Tk. 3 lac. Loan Period12-36 months.Processing Quick Processing Immediately, least(prenominal) Formalities. 5. Thikana Loan A mans home is just not his castle, its more than than an asset, and its an investment for his future 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 running a successful business from rented premises, IFIC BANK is there to finance you for loan. So your business can have its own Permanent Address.Getting the Loan If you are a Bangladesh i entrepreneur with only 2 years of successful business record & having a sensible trade license and also 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 date of maturity of the loan. Processing Quick Processing, Immediately, Least Formalities. 7. Peshajibi Loan Whether you are a Doctor/ manoeuvre/ IT skipper/ Management Consultant or any other professional come find out virtually IFICs advancement Peshajeebi Loan that lays the foundation for your travel 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 months.Processing Quick Processing Immediately, Least Formalities. 8. Retail Loan To the small entrepreneurs who know their trade yet feel frustrated by the deficiency of money to get a bigger share in the marketplace. IFIC BANK understands their problem and believes that financial tolerate 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 SchemeEmpower yourself for a secure and prosperous future with IFIC PSS. Partnership for a prosperous and secure future. Features Under this Scheme you can open a deposit scheme for Tk. 500, Tk. 1000, 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 carapace of holiday the next working day). You can get Loan up to 80% of the deposited amount You can receive the entire deposit amount with interest at one go or receive a pension on a monthly basis at a desirable amount of your monthly installments. For your clarity a Table of Deposit Scheme and after due date Payable Amount is given belowMonthly Installment 3 Years 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 skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make its position 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 its indelible mark as an active partner in regional banking operating beyond the national boundary.For that reason it is making joint venture and new-fashioned loans and schemes and expanding its business in the country and outside the country. Chapter Two Research met hodology (a) Objective of the study The main objective is to analyze HRM issues and to find the different problems associated with different HRM activities. Specially ? To find out different problems of HRM activities ? To judge the employees job satisfaction level ? To seek different problems of the employees in the banking sector ? To identify the reasons for which the problems are created ? To search shipway to solve 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 world answered by different people from IFIC bank Ltd. ? Guidelines and suggestions from our Professor Ataur Rahman. ? Interviewing the bank officials, specially the various officers of IFIC Bank Ltd, IFIC academy. b) second-string Sources ? Annual reports of IFIC Bank Ltd ? Different Published Booklets of IFIC Bank Ltd ? Different books ? Various published documents ? Various study from various website. ? Academic calendar 2007, IFIC Bank Limited. ? Different documents of the IFIC Bank Ltd. taken from Head Office & the Branch. ? weathervane site www. ificbankbd. com. (c) Data interpretation For data interpretation two approaches have been mainly used in this report, 1. Conceptual approach 2. empiric approach. The approaches are discussed below ? Conceptual approach A theoretical section is given in this report (the company profile) to give an insight various instruction concerning the financial function. ? Empirical approach This refers to that has been directly stash away and interpreted from the survey on IFIC bank Limited. Statistical analytical tools such as elan 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.Statistical Analysis such as standard d eviation, co efficient of variation and mean is used to understand job satisfaction etc. Such as average job 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 No social function is beyond limitations. Everywhere and in every task there must have some sort of limitations. We also faced some problems at the time of preparing our report as well. The limitations are ? Lack of availability of data ? Shortage of time ? Companys restrictions to disclose all information ? Perceptual difference of the employees to measure job satisfaction Chapter 3 Findings and analysis (a) Literature reviewOur report is on the HRM practiced by IFIC bank so literature review is focused on the HRM terminologies. Human Resource Management (HRM) The set of organizational activities directed at attaining, developing and maintaining an effective workforce. Why is Human Resource Management (HRM)? It is not po ssible to run any organization (whether it is small or large) without people/ Human Resources. Organization must satisfy its employees to achieve its objectives. It is not possible without Human Resource Management (HRM). HRM is important for ? Hiring capable/right employees for the organization ? Motivating employees ? Retaining capable employees ? Taking steps 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 ? amplifying team sprit, cooperation & morale of the employees ? delegation the authority & responsibility among the subordinates ? Controlling administration human resources of the organization Major Human Resource Management (HRM) activities are ? Job analysis ? Recruitment & Selection ? Orientation, breeding and Development ? Compensation Management ? Job evaluation ? Performance appraisals ? Motivating Employees ? Communication Hum an Resource Management (HRM) TerminologiesJob analysis A systematic surgical procedure for collecting and recording information well-nigh 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. Internal Recruitment Internal Recruitment considers current employees as applicants for higher-level jobs in the organization. External Recruitment People are collected from outside the organization to apply for the jobs. Employment tests Employment tests are the devices that assess the probable match surrounded by applicants and job requirements. HRM selection Selection is the choosing capable employees both the job and organization. genteelness 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 presend and future jo bs. Training and Development Methods Assigned readings, behavior modeling, case discussion, conference, Lectures, on the job training such as job rotation etc. Job evaluation An attempt to asses the worth of each job relative to other jobs Performance appraisals A formal assessment of how well an employee is doing his or her jobs. Benefits Benefits are the things of value other than financial requital that an organization provides to its workers. (b) Human resource departmentHuman Resources Department is focused on recruitment and in- signboard training for both on the job and off the job Bank staff members through the Banks Academy. IFIC Bank Academy the oldest institution in the private sector was conceived of as an in-house training plaza to take care of the training needs of the Bank internally. Academy is fully equipped with a professional library, modern training aids and professional faculty. Library has about 4941 books on banking, economics, accounting, management, merc handising 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 also organized by the Academy depending on need. Frequently outreach programs are organized to meet demand for new and specialized skills. During its 23 years of existence, Academy not only conducted courses, workshops and seminars as required by the Bank, but it also organized training programs for the Bank of Maldives, Nepal Bangladesh Bank Limited and Oman International Exchange LLC. (c) Workforce Total 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. exploitation in workforce of the Bank from 1983 to 2006 is given below Growth in workforce Year Officer Staff 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 Calendar 2007 ready from previous table pic Analysis Total employees from 1983 to 2006 have been shown 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 SelectionThe Recruitment & Selection procedure of the bank is also related to its overall strategy. The bank is going to expand its branches in the near future and the bank is recruiting new employees & junior officers to satisfy its long run objectives. Highly qualified employees are hired for the organization. Entry-level position & minimum qualification External sources Provisionary officers tokenish graduate Grade-2 officers Minimum graduate Cash or computer officers Minimum HSC Below the Above level Minimum Class-VIII Interna l sources Other senior posts are filled by the internal sources except some technical or specialized field. (f) Training and development The AcademyAt 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 leading one among the banks in private sector. The Academy regularly conducts foundation courses, specialized courses and seminars in different areas of banking to take care of the professional needs. In extension, officers are regularly 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.The Academy has to its credit the experience of conducting s everal courses for the officers of the Bank of Maldives (BML) and Nepal-Bangladesh Bank Limited. In addition, it reinforced 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 possible 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 case studies/practical experience/demonstration/ project let down for efficient operations ? Develop analytical & decision making skills of the officers ? Develop understanding about human/ abstract skill and organizational cultures ? Impart managerial skills to groom future Executives and to keep existing Executives up-to-date with na tional and international environment. Types of programs For fresher, Foundation Courses on elementary knowledge of banking are organized. Specialized Courses on the areas like trust, 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. 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.The Academy holds need-based training courses/workshops/sem inars etc. which are finalized by HRD Division in consultation with various departments and senior Executives at Head Office. Training inputs are constantly reviewed/limited for achieving the Banks objectives. Methods in training include discussion/lecture/workshop/case study/games/role play/film show/simulation/group work & presentation /project visit and so on. On-the-job training Foundation courses have two parts theoretical training in the Academy and job rotation. The officers on probation are requested to bear up under both in a period of one year. During this period, three-phased training program is effective.On 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 go understanding. Faculty The Academ y has built up a pool of professional trainers within the Bank. In addition to permanent and professional trainers, speakers are drawn from operational side so that on-the-job experience may be exchanged and shared. Over and above, speakers from Central Bank, professional training institutions, universities, research organizations, and Govt. rganizations are also invited to share 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 steps to build up Mini Libraries at all the branches outside Dhaka with a view to helping the employees with books and reading materials for updating and upgrading their knowled ge.Branches 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 stillness rate system is not applicable. The performance of the employees is not directly applied in the compensation system. It only helps in increasing the score of the 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.Both marks are added together to prepare list for promotion. Statistical Analysis indicates Average 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.These 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 contend with others. ? In Banks, specially in the senior position, experienced & educated employees are required. ? Remuneration is high in the bank. ? Most of the employees are satisfied in the bank. ? Working environment in the bank is healthy & fine. ? Employee welfare program has insurance facility, loan facility, provident fund trans portation & house rent allowances, and gratuity 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 vigilant all times & employees will be liable for their mistakes. ? advancement depends on the performance & Annual Confidential Report (ACR) scored by the immediate supervisor addition interviews score. ? Bank job is very challenging and stressful, especially in the top- level position. ? Risk management is very tall(prenominal) task in the bank. ? Sometimes, promotion is delayed because of certain reasons in the banks. ? Sometimes, Employers use nepotism and favoritism at the time of employment and promotion of the employees ?Marketing activities especially deposit target to open account is a serious 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 t o legal requirement procedure of the bank, In this case customers may want to do undue influence to the bankers. They sometimes threaten the bankers for getting loan from the bank. ? interpersonal relationships & communication are good. ? It is monotonous job. Especially employees have to reconcile the accounts cash/clearing/transfer every day. ? Bankers sometimes have to work more than eight hours in a day without any remuneration. medicine is played in the bank to collide with monotonous working environment. ? Bonus is also paid on the basis of overall profitability of the banks ? Average Job satisfaction level is more than temperate 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 ex ecutive 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 Assistance 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 device driver Driver 5300 19 SS Security staff 4200 20 O. ATT. Office attendance 3850 Source IFIC Bank Ltd. vivid chart pic Total monthly compensation of the employees Vertical lines represent TK amount and the horizontal lines represent the localise 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 dispute between the employees and the management.Comfortable family environment, comfortable job, satisfaction in work, high remuneration, good customer Service, good interpersonal relation, highly outside & inside personal relation development exist in the organization. Chapter 4 Conclusions and recommendations (a) Conclusions Banks play important role in the modern economy 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 cover it for the long time.Training, princi ple 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 moderate. Most of the employees are satisfied here. Bank is also satisfied with its employees. Banks 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 retained its competitive position because of its performance and Employees have made the performance of the organization.Employees promotion & selection should be blank 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 moder n banking system, adopt new technology, initiate new product, train its employees mighty to do their job and keep employee satisfied. Banks performance is good for its satisfied employees. Bank is on the right track. Banks HRM policy 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 motivate 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 positive frame 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 cope with the problems of environment or technological change. Initiate highly automated system for the benefits of the clients & earning more profit and reputati on as well. Provide overtime allowances for the employees for working more than eight hours. Provide timely promotion to create cause 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 Staff need by management. AVP has said about Better policy for the changing scenario and also adopt farther mechanisation 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, better 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. Name . 2. Designation .. 3. Age . 4. Gender .. 5. period of employment .. 6. Duration of employment in this bank .. 7. Why do you choose job in the banking sector? a) High remuneration b) Easy job ) Comfortable environment d) Challenging job e) Other, please specify 8. Why do you choose job this bank? a) Highly paid b) Easy to develop career c) Better performance d) Better HRM policy e) Other, please specify 9. How do you feel about your job? a) Pleasant b) Unpleasant c) Indifferent 10. Your satisf action level in the bank job a) real high b) high c) moderate d) minuscule 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) Low 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 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) postgraduate 18. Are you satisfied with the culture of this branch? a) Yes b) No c) deaf(p) 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, sixth edition. 4) Academic calendar 2007, IFIC Bank Limited. 5) Different documents of the IFIC Bank Ltd. taken from Head Office & the Branch 6) tissue site www. ificbankbd. com. pic Plan for dealing with predicted shortfalls or over staffing Compare future demand and internal cut Forecast external supply Forecast internal supply Predict Demand Assess trend in ? External labor market ? Current employees ? Future organizational plans ? General economic check into Name ID NO. (1) Md.Mosharref Hossain 36 (2) Saheli Nargis64 (3) Md. Rashedul Hasan78 (4) Zubaer Shoaib86 (5) Md. Naharul Islam92 Name pic? 67YcdoeaO? A? sssfWQHh? h9CJh9CJh? h9B*? CJ,aJ phy+jhDpB*? CJ,UpicaJ mHnHphyupichOj h9B*? CJ2aJ4phyhXpic? hnickname* CJ4aJ4phhXpic? h9B* CJ4aJ4phhXpic? emailprotected* CJ4aJ4phhemUB* CJ4aJ4phhoB* CJ4aJ4phh9CJh? ho nCJ-aJ h? GhU /5? CJ h5? CJ jRoll no. Signature 1. Md. Mosharref Hossain36 2. Saheli Nargis64 3. Md. Rashedul Hasan78 4. Zubaer Shoaib86 5. Md. Naharul Isla m 92

Textbook Prices Annotated Bibliography Example | Topics and Well Written Essays - 1000 words

Textbook Prices - Annotated Bibliography ExampleAllen, Nicole. A Cover to Cover Solution How Open Textbooks are the highroad to Textbook Affordability. The Student PIRGs. Public Information Resource Group, Sep. 2010. Web. 10 July 2011.In this lengthy article, Allen details a have she conducted to determine if open textbooks are a logical way to make student textbooks more affordable. Considering the average student spends $900 on textbooks annually, she thinks the need for solutions is increasingly urgent (Allen 4). She goes into rough detail around what she calls market place failure that hinders the economic checks and balances that naturally regu slow be (6) as the reason publishers charge so much. opposite reasons include issuing new editions every 3-4 years regardless of changes in the subject (6) and bundling books with software package or study guides most professors do not require students to handling. She cites that the federal government is aware thither is a prob lem with textbook costs and is doing several things to help students, including requiring publishers disclose textbook expenses to professors during the marketing attend (7). She introduces the idea of open source textbooks, which are offered online under an open-source license that allows free digital access, low-priced print options and customization by instructors (8) and says that over 1000 college professors are currently using this option (8). The remainder of the study looks at student preferences and finds that 75% of students still prefer printed copies over electronic copies (9) and 34 % would still kinda buy at least some of their textbooks rather than rent them (10). In Allens final recommendations, she encourages the advertise development of open textbooks by publishers and their use by students (16). This article does a great job providing marvelous detail to explain the costs each year to students of traditional textbooks versus the savings of open textbooks. It also shows that students are not yet ready to make the move to electronic, online books. It is also important to note that the group that funded the study, PIRG, has been entangled in multiple protests against textbook companies for what it claims are price gouging practices. 2. Bernard, Tara Siegel. For Class, Book Deals. New York Times 15 Jan. 2011 late edition B5. Access World intelligence operation. Web. 10 July 2011. Bernards article looks at ways students target moreover money by buying their books in places other than the campus bookstore by compiling suggestions from college students around the country. She points egress that when it comes to buying textbooks there are so many options, however, that the whole process can begin to timbre like the semesters first research project (Bernard B5). Bernard lists several comparison sites, where students can enter a needed title on one site and it will automatically search several sites for a cost comparison of the exact book needed, but she also points out that the condition of the books varies greatly (5). Students may also find that international versions of books can be half the price of U.S. versions, but her source warns some publishers have made small changes to the pagination or text to make it more difficult to use in the United States (5). Overall, Bernard does a good job of quickly explaining options to students to help save money, but secret code in this article explains why textbooks are so expensive or gives an opinion on what colleges can do to help students with their high book bills. 3. Bruno, Laura. College Books for Less. USA Today 17 Aug. 2010 final edition 6D. News Bank. Web. 10 July 2011. Brunos article looks at a rental solution to high textbook costs that over 1300 colleges have implemented across the U.S. with potential savings up to 50% off the price of a new textbook (Bruno 6D). The article also mentions the Higher Education Opportunity Act that says colleges must(prenominal ) list required course materials for students during registration,

Early Childhood Learning and Development Essay Example | Topics and Well Written Essays - 2000 words

Early Childhood Learning and Development - Essay ExampleFrance and Belgium adapt an organized babeminding organisation because most parents admit their two-year-olds to nursery schools. In contrast, Britains situation is a bit different. There are no parental leaves and an explicit rejection of any public responsibility to support working parents and their children. This underside be attributed to the far-flung view in Britain that early childhood complaint and education are treated as sequestered matters.As a resolution, policies for early childhood services were passed and implemented. One of them was the Children crop 1989 which was implemented in 1991. The Children Act 1989 emphasizes that our actions support the best interests and welfare of the children and highlights the role of parental responsibility and the partnership between professionals and parents in child rearing (Pugh, 1992). It re roved parental rights with responsibility as it places paramount importance in t he vital roles that the parents assume in the growth and education process of their children. Children since birth live with their parents. Their immediate environment is with their parents in a place they call home. Children have gained confidence, trust, and love for their parents and treat their family and home as their comfort zone. The biological and physiological inescapably of the children, as well as, their proximity with their parents allow the latter to share many experiences that influence and shape the producement of the children. Because of this, parents are considered as the prime carers and educators of their children (Braun, 1992).Professionals in early childhood work, on the other hand, have gained prescribed education and training about children and their development. They have been exposed to caring for children with varying age, different behaviours and schemas or learning patterns, and different orientation, beliefs, culture, and social status. Parents in-d epth and intimate relationship and detailed knowledge of the experiences of their children and professionals formal and technical know-how of child care and development should converge and be utilized at the optimum level in terms of childrens learning. functional with parents has proven to be effective especially in ensuring that the child is given maximum opportunity to develop his/her schemas at home and in school, whether learning is structured or unstructured and setting is formal or informal. There are several ways to work with parents during early childhood care and education. Dorit Braun in Contemporary Issues in Early Years discussed that parents room can be set up where parents can meet and chat with each other, parents can serve as helpers on trips and parenting groups to support parents can be established. Furthermore, Margy Whalley (2001) discussed how the Pen Green Centre encourages participation among the parents. The Pen Green Centre for below 5s in Corby, a multidi sciplinary service financed by

Research Paper on Victoian Essay Example | Topics and Well Written Essays - 1500 words

Research Paper on Victoian - Essay ExampleThe most conspicuous champion of in the buff morality which became lively during the Victorian develop was Tennyson (Glenn Everett Tennyson and Victorianism victorianweb.org). He st finesseed writing poems from very early age onwards. He got Chancellors medal at Cambridge for his Timbuctoo. The Lady of Shalott, Oen atomic number 53, The Lotos-Eaters, etcetera were the poems he wrote initially. In 1842 he completed the notable poems like Mort d Arthur, Ulysses and Locksley Hall. These were followed by longer poems. The Princess is a seriocomical poem that deals with the theme of the new woman wanting to shun male society and ending with a happy marriage. In 1850 appeared the important poem In Memoriam which is a series of short poems on Tennysons meditations on the dying of his close friend. It contains many reflections on life and death which show the influence of the new theories of the day. It is considered to be one among the better w orks of Tennyson.Robert Browning (1812-1889) is a philosophical poet (Glenn Everett Robert Browning-Biography victorianweb.org). He contributed dramatic monologue - a new form of poet, to position literature. These are poems written as an individuals words to others. The listeners dont speak but their mood and reactions are being explained by the speaker of the monologue. Thus it gets a dramatic form. Brownings monologues are of two types. In the first group he tells a souls history in the episode of an hour. In the second group he turns from the probing into the depths of human spirit to assert in ringing terms the doctrines of the nobler life. The first group is far ahead in dramatization. secondment are more direct expressions of his robust philosophy of life. Browning has written quite a hardly a(prenominal) love poems. The best among them is One word more which is addressed to his wife. Matthew Arnolds poems may be divided into two groups narrative and lyrical. He wrote nar rative poems taking Greek and Roman epic poems as models. His verse is not sufficiently spontaneous. His is the poetry of reflection and there is the predominance of the intellectual element in it. There are several descriptions of flowers in his poems. Arthur Hugh Clough is remembered mainly for the poem Say not the struggle naught availeth. Pre-Raphaelitism was an artistic movement of resisting the existing conventions in art and literature through a going back to the art forms in European art in the beginning the time of Raphael. D.G.Rossetti is one of the leaders of Pre-Raphaelitism in literature. His most important poem is The Blessed Damozel. Christina Georgina Rossetti, D.G.Rossettis younger sis also was a poet. Her works include Goblin market and other poems and Verses and new poems. William Morris who wrote so many poems kept enough resemblance to the poems of Rossetti. Thomas Babington Macaulay, Edwin Arnol, Francis Thompson, Emily Bronte, Charlotte Bronte, R.L.Stevenso n, Oscar Wilde, etc. are the other famous names of the time in poetry (Victorian poetry victorian.fortunecity.com).DramaTennyson, Browning and Matthew Arnold were the important poet dramatists of Victorian era. There were a few writers of plays in prose (THE VICTORIAN ERA - Nonfiction, Poetry, The Victorian Novel, 19th-Century Drama referatele.com). Thomas William Robertson penned enough number of plays which introduced a new more natural type of comedy to English stage. Castle is

Analyzing aspects of the employment process Essay

Analyzing aspects of the employment process - Essay Exampleying weaknesses and strengths as well as opportunities for amelioration and skills development (Introduction Performance Appraisal). Hence, the importance of performance paygrade becomes obvious and can be applied to our fundamental law through various methodologies including graphic scale, checklist, forced choice, ranking, paired comparison, forced distribution, MBO, and BARS (Dessler, 2000) as well as with the aid of incentives, bonuses and word of appreciation and a pat on the back. Research by Luis et al. (2001) suggests that performance evaluation when applied adequately can reap massive fruitful results including improved customer satisfaction fan out from employee satisfaction, ameliorated work performance and product quality, ease in retaining trained and diligent work force and so on and so forth.Planning and strategic decisions about recruiting include both congenital and external recruiting. thither are vario us internal sources of recruiting that work effectively to accomplish the targeted organizational goals. As Buford, Bedeian & Lindner (1995) & Zoller (1996) define, recruiting is the process of generating a sufficiently large group of applicants from which to select qualified individuals for available jobs and apart from the external sources including media advertising, walk-ins, public and cloistered employment agencies, educational institutions, state agencies, government programs, direct recruiting (Lindner & Zoller), there are internal sources that are effective. These internal sources of recruiting include employee referrals and internal job postings (Lindner & Zoller). Good, experienced, trained and hard working employees when make referrals, organizations must feel obliged. This is because, employee referral is integrity internal source that has so far proved quite effective in the recruiting procedure worldwide. Employee referrals disparage the work load and share the res ponsibility with the management which otherwise remains solely responsible for recruiting the business people at the right time (Lindner & Zoller). What makes this internal source effective is the reason that those applicants that are referred by the working employees have a clearer picture of the organizational expectations, aims and vision and can shape their expectations from the organization and their duties therefore in a better fashion than applicants that are recruited directly through other sources (Lindner & Zoller). Another very effective internal source of recruiting is internal job postings. Vacancies year round can be make full in by the working as well as the deserving employees that can be found, set(p) and analyzed internally through the application of performance appraisal. These vacancies may represent promotions (upward moves) or transfers (lateral moves). Posting and travel notices of vacancies maximizes employee awareness of job openings. The notice should i nclude such items as title, department, job summary, qualifications, and salary and should be put on bulletin boards,

The Emergence Of The Discipline Of Psychology From Its Early Essay

The Emergence Of The Discipline Of Psychology From Its Early Philosophical And Natural Science Beginnings - Essay interpreterHe and his colleagues focused serious interest on studying the mind through experimental introspection. self-contemplation is the detailed mental self-examination of feelings and thoughts as they occurred. The research involved meticulous observation of simple events down the stairs controlled conditions-virtuoso that could be measured as to quality, intensity, or duration-and recording of the responses to variations of those events. The emphasis on control and measurement in these investigations were what first established psychology as a scientific discipline. Wundt initiated the concept of stating mental events in singing to objectively knowable and measurable stimuli and reactions. William James of the same era also followed the psychological method of introspection in The Principles, in which he defines as the looking into our own minds and reporting w hat we there discover.However, J.B. Watson questioned the soundness of those approaches, cerebrate that if one introspection yield a different result with another wouldnt necessarily mean that one set of results is correct and the other is incorrect. He argued that it was impossible to prove or disprove the results obtained by that method. He suggested that studies be confined to what can be measured and observed by more than one person. With that, behaviourism was formed.

Ethical Leadership and Decision Making Research Paper

Ethical Leadership and Decision Making - Research Paper display caseMoreover, based on the accepted fact that success is not the final outcome of every attempt, it is the draw who ensures rescuing people from de-motivation rising from failure that most stands apart from the rest. The report herein develops an assessment of a draw that has served as a mentor to give meaning and understanding of impressive lead. During work experience in the Army, study General (Ret.) Charles McCartneys the leading style influenced me greatly. McCartney well understood the privilege of leadership creation responsibility with visionary collaboration and teamwork to gain an overall level of success. Thereby, this report develops an assessment on study General (Ret.) Charles McCartneys various dimensions of leadership and will provide the review of the fact that successful leadership assumes all capabilities to lead its people to succeed as a combined goal. Management science has undertaken the substantial assessment of the leaders from various dimensions for instance Behavioral factors, Transformational, Situational, Trait, Charisma along with the power and influence and so forth Moreover, it is based on the early assumption that leaders are born and not made however, coeval theories assert that effective leader allows apart from direction to success also offer great skill opportunities (Browne & Keeley, 2012). These learning opportunities are presented as two types of leaders as mentioned below (Northouse, 2007) Hence, leadership can be learned as well. In this, one can see that trait, skills and values from McCartneys style offer the reader a great chance to learn. The distinctive formats of the transformational or transactional leadership complimented with the power available to a given leader all work to facilitate the outcome from the leader. Broadly, leaders that are ultimately effective in leadership have to account for an optimum mix of three main factors (Bart on, Grant, & Horn, 2012) Decision reservation styles mix Day to day behavior Transformational and transactional leadership style It is worthy of mention, due to the fact that distributively dimension mentioned above has its own variation to offer and effective leaders formulate the mix of from each one dimensions offering suiting to the need of the berth and in the overall best delight of follower though this may not be suiting to the need of the certain people. Hence, the effective leadership is also one to constantly learn and evolve from the challenges with the passion for success by adapting to the need for an hour. For assessing Major General (Ret.) Charles McCartney with respect to his alignment with the leaderships dimension, the below roadmap will offer an effective read in understanding such nuances (Colquitt, Lepine, & Wesson, 2012)Decision Making Styles Leaders decisions ultimately decide the quite a little of the follower. Moreover, the fact that makes the decisio n making more crucial for the leaders, especially in a critical situation where chances of loss equally exist, comes to even more prominence.