Human Resource Practice

A Report on HRM issues in the margining atomic number 18na A slipperiness paper on IFIC imprecate contain MBA Program, menstruum HRM division of focus Studies efficacy of Business Studies University of Dhaka July 20, 2009 A Report on HRM issues in the deposeing sector A Case Study on IFIC margin Limited Submitted To, Professor Dr. Md. Ataur Rahman Department of Management Studies University of Dhaka Prepargond By, MBA, Stream HRM, 10th people, Department of Management Studies University of Dhaka Executive summary In this global touch angiotensin converting enzymed era, beachs ingest an important role as a m unitytary institution.This overlay has been alert on a commercial message bank. In ein truth electronic formation, men/human imaginativenesss play an important role for its success. No effectualation whether it is sm each or large, labor intensive or engineering intensive lot escape without human resource. The topic of our proclaim is HRM issues in t he deposeing sector A Case Study on IFIC Bank Limited. We surrender done this report on the IFIC bank Ltd. Although we bedevil learned roughly banking activities during preparing our report we seduce mainly foc ingestiond on HRM issues to keep the report on the decently track.The Bank has a kind-hearted Resource & vari satisfactoryness for its employees breeding & information. The too has an academy for this purpose. thither is a Library in the Academy. Bank uses some(prenominal) on-the telephone circuit planning & off-the labor training method. Branches use on-the subscriber line training namely line of reasoning rotation, coaching/ to a lower do shoot approach, direct cargon by the senior managers. Head subroutine uses off-the bloodline training namely Lectures, Conference, Workshop, Management Game, quality playing, Behavior Modeling and Case Study and so forthtera The workforce was 96 in 1983 & 2014 in 2006.Benefits of the Employees such(prenominal) as dwelling building loanwords, Car loan at unhorse interest rate, Provident Fund, Insurance Facilities atomic number 18 available for its employees. borderline 2 years is ask for advancemental material of the employees. Two Methods of evaluation for promotion 1. yearly confidential report (ACR) scored by the immediate supervisor 2. Interview point outs. more or less(prenominal) marks be added to detecther to prepargon list for promotion. Statistical outline indicates Average frolic enjoyment Of the employee (Mean) is 3. 37 out of 5. Standard variance is 0. 82 & Coefficient of Variation (CV) is 24. 3 %. The surgical process of the bank is satisfactory. Our Report consists of quaternary Chapters namely Introduction, Methodology, abbreviation & Findings, Conclusion & Recommendations, & Bibliography & Appendix. In the first chapter History of the validation, objectives of the musical arrangement, functions of the organization, organ gram of the organization, liv ely course of c on the whole for of the organization and the early program of the organization has been described. In the second chapter verifiables of the reckon, data aggregation, data interpretation, limitations of the study has been described.In the 3rd chapter human race resource preparation, recruitment and selection, training and outgrowth, performance appraisal, CPD, findings, pay outstrip and labor centering relations has been described. In the final & quartetteth chapter recommendations, conclusions, suggestions and appendage and bibliography ar give. 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 argon stating that we atomic number 18 a few savants of MBA program Stream HRM doing our report under Professor Dr.Md. Ataur Rahman. We be very happy to inform you that we have prep ard our Report on HRM issues in the Banking sector A Case Study on IFIC Bank Limited and would supplantable to submit it to you at this time. Therefore, we volition be upliftedly p involved if you accept our Report. Sincerely Yours, MBA 10TH Batch Stream HRM Department of Management Studies Faculty of Business Studies University of Dhaka cite At the very out pose, we do hereby express our heartiest gratitude and countless thank to the Almighty who has enabled us to prep ar this report on HRM issues in the Banking sector A Case Study on IFIC Bank LimitedWe would ilk 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 director of the Bank, Md. Masiur Rahman precedential Executive offense President Head of HRD & Research, R. M. Debnath. Md. Sahabuddin, Librarian of the IFIC Academy Library has wait oned us providing nurture almost the HRM issues of IFIC Bank Ltd. Fin wholey, we would like to thank all persons who have helped us to prep ar our Report. Abbreviations Used No. Abbreviation enlargement 01 IFIC Inter national finance investment & commerce 02 MD Managing Director 03 SEVP precedential executive fault death chair 04 EVP Executive wrong professorship 05 SVP Senior vice president 06 EVP Executive vice president 07 VP Vice president 08 SAVP Senior aid vice president 09 FAVP First assistance vice president 10 AVP Assistance vice president 11 SSO Senior lag officer 12 SO Staff officer 13 G-1 ships officer grade-1 14 PO Provisionary officer 15 G-2 authorizationr grade-2 16 bills/COMP money/Computer officer 17 OA(SG) character assistance(security guard) 18 O. ASSTT. Office assistance 19 SS security department supply 20 O. ATT. Office attention 21 Ltd. Limited 22 HRM kind Resource Management flurry of contents Chapter no. Particulars Page no. Executive Summary 3 Letter of transmittal 4 Ac familiarityments 5 Abbrevi ations 6 List of map 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) entropy collection 17 (c) Data interpretation 18 (d) Limitations 19 Chapter 3 Findings and analysis 19 (a) Literature review 19 (b) human being resource surgical incision 22 (C) manpower 22 (d) Human resource planning 24 (e) Recruitment and selection 24 (f) prep and development 25 (g) mathematical process appraisal 28 (h) C beer planning development 29 (i) Findings 29 (j) Pay outperform 30 (k) grok 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 re port we have non utilize 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 apply just four chart and graph. Page no Contents Subject matters 12 put back organisational hierarchy 23 Bar Diagram Workforce 24 Organizational chart HRP 32 Bar diagram Pay scale Dedication Dedication to our course teacher Dr. M. Ataur Rahman And Our M an early(a)(prenominal) and Father ensure 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 family incorporated in the Peoples Republic of Bangladesh with curb liability. It was set up at the instance of the regime in 1976 as a joint game between the Government of Bangladesh and sponsors in the personal sector with the objective of working as a finance company within the country and setting up joint speculation banks/financial institutions abroad.. In 1983 when the Government allowed banks in the snobbish sector, IFIC was converted into a fledged commercial bank.At that time this beat was 231. 03 crore and profit figure was 5. 06 crore. Up to 2008 its number of complexify stands to 65 and its paid up roof was 1,341,431,400 TK. The Government of the Peoples Republic of Bangladesh now holds 35% of the piece of ground capital of the Bank. Leading industrialists of the country having vast experience in the field of handicraft 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 provide military service to its clients with the help of a delicate and apply workforce whose creative talents, innovative acti ons and private-enterprise(a) edge impart make its impersonate unique in endowment quality service to all institutions and individuals that it concern for. It is committed to the welfare and stinting prosperity of the people and the community, for that it is working towards to gain progress to prosperity. The bank indispensableness to be the leader among banks in Bangladesh and make its indelible mark as an active partner in regional banking operating beyond the national boundary. In an intensely competitive and complex financial and argument organisation environment, it curiously 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 estimate with the Govt. of Bangladesh. 2) It operates Foreign rallying Business in a limited scale. 3) It operates as a commercial bank. 4) It operates overseas joint embark such 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 venture activities it functions the act of second lease financing. (d) Organ gram of the organization The thirteen members of the Board of Directors are amenable for the strategic planning and boilers suit form _or_ system of government guidelines of the Bank.Further, at that place is an Executive delegation of the Board to dispose of urgent business proposals. Besides, in that respect is an Audit direction in the Board to oversee compliance of major regulatory and usable issues. The chief operating officer and Managing Director, Deputy Managing Director and Head of Divisions are responsible for achieving business goals and overseeing the twenty-four hour period 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 wangle 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 rapid decisivenesss.There is an Asset Liability Committee comprising 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 planetary Manager Deputy General Manager Assistant General public treasury Senior Principal policeman 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 operat e 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 fledged commercial Bank in Bangladesh. In 1985 it set up a joint venture Exchange Company in the Sultanate of Oman.In 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 celebrated its 20th founding anniversary. other(a) than that the Bank offers various loans and scheme to the customers. The major loans and schemes are the banks main product. The commentary of the products are given beneath. 1. Auto loan 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 sought after Car.Getting the loan If you are an adult employed person and have an account with us so you preserve easily open for the machine LOAN. impart surface maximal Tk. 15 lac bring Period 12-60 months. 2. Consumer contribute Life is complex as it is. IFIC makes your life-style easy and cosy with the Consumer invariable loan. So avail the easy facility offer. Getting the add If you are an adult and employed person and have an account with IFIC, consequently you are desirable to apply for the loan. Loan Size Maximum Tk. 1 Lac. Loan Period 12-36 months. touch Quick bear on Immediately,Least Formalities. 3. Porua Loan A good education is the excogitation for a triple-crown life. IFIC is offering the probability to students to pursue higher 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 call fors and un certainties of life breedting you down? Here is the answer. Come avail yourself IFICs Flexi Loan, to daily round 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 monthly Tk. 10,000 hire then you are eligible for the Flexi Loan. Loan Size Maximum Tk. 3 lac. Loan Period12-36 months.Processing Quick Processing Immediately, Least Formalities. 5. Thikana Loan A mans home is average not his castle, its more than an asset, and its an investment for his future generation. IFICs Thikana Loan percentage 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 Immed iately, Least Formalities. 6. Possession Loan For those people chipning a successful business from rented premises, IFIC BANK is there to finance you for loan. So your business can have its own unchangeable Address.Getting the Loan If you are a Bangladeshi entrepreneur with all 2 years of successful business record & having a valid trade license and as well as 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 adulthood of the loan. Processing Quick Processing, Immediately, Least Formalities. 7. Peshajibi Loan Whether you are a reestablish/ Engineer/ IT passe-partout/ Management Consultant or any other professed(prenominal) come find out most IFICs advancement Peshajeebi Loan that lays the infrastructure for your aweer 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 app ly 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 foreclose by the lack of money to get a bigger share in the marketplace. 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 Scheme dower yourself for a secure and well-fixed 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 cheek of holiday the next working day). You can get Loan up to 80% of the depo setd add in concert You can receive the entire deposit beat 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 stand by Scheme and after Maturity 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 achievemented 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 Ban gladesh 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 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 several(predicate) problems associated with divers(prenominal) HRM activities. Specially ? To find out antithetic problems of HRM activities ? To judge the employees suppose merriment take aim ? To seek antithetic problems of the employees in the banking sector ? To identify the reasons for which the problems are farmd ? To search ways 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 being answered by different people from IFIC bank Ltd. ? Guidelines and suggestions from our Profes sor Ataur Rahman. ? Interviewing the bank officials, specially the various officers of IFIC Bank Ltd, IFIC academy. b) Secondary Sources ? Annual reports of IFIC Bank Ltd ? distinguishable Published Booklets of IFIC Bank Ltd ? several(predicate) books ? Various published documents ? Various study from various website. ? academic schedule 2007, IFIC Bank Limited. ? Different documents of the IFIC Bank Ltd. taken from Head Office & the Branch. ? sack up site www. ificbankbd. com. (c) Data interpretation For data interpretation two approaches have been mainly used in this report, 1. Conceptual approach 2.Empirical approach. The approaches are discussed below ? Conceptual approach A theoretical 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 interpreted from the measure on IFIC bank Limited. Statistical analytical tools such as i mpulsion 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 deviation, co efficient of variation and mean is used to understand job bliss etc. Such as average job propitiation 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(prenominal) 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 approachability 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) Li terature reviewOur report is on the HRM confided by IFIC bank so literature review is focused on the HRM terminologies. Human Resource Management (HRM) The set of organisational activities directed at attaining, growing and maintaining an effective workforce. why is Human Resource Management (HRM)? It is not likely 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 resourceful/right employees for the organization ? motivation employees ? Retaining capable employees ? Taking move 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 & morale of the employees ? Delegating the authority & responsibility among the subor dinates ? Controlling administration human resources of the organization Major Human Resource Management (HRM) activities are ? Job analysis ? Recruitment & Selection ? Orientation, procreation and Development ? Compensation Management ? Job evaluation ? Performance appraisals ? Motivating Employees ? Communication Human Resource Management (HRM) TerminologiesJob analysis A systematic procedure for collecting and recording 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. Internal Recruitment Internal Recruitment considers current employees as applicants for higher-level jobs in the organization. extraneous 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 between applicants and job requirements. HRM selection Selection is the choosing capable employees both the job and organization.Training 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 pre move and future jobs. Training and Development Methods Assigned readings, behavior modeling, theme sermon, 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 measure other than financial hire that an organization provides to its workers. (b) Human resource departmentHuman Resources Department is focused on recruitment and in-house training for both on the job and off the job Bank staff members through with(predicate) the Banks Academy. IFIC Bank Academy the oldest institution in t he private sector was conceived of as an in-house training center to take care of the training needs of the Bank naturally. Academy is fully equipped with a professional library, recent training aids and professional skill. Library has about 4941 books on banking, stintings, accounting, management, marketing 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 nonionic by the Academy depending on need. Frequently outreach programs are nonionized to pair demand for new and specialized skills. During its 23 years of inhabitence, 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. discover of them 1430 were officers and 584 were non-officer employees. The number of female employees in the Bank on the date was 275. growing 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 Prepared from earlier 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 sa tisfy its long run objectives. Highly qualified employees are hired for the organization. Entry-level position & minimum making External sources Provisionary officers Minimum graduate Grade-2 officers Minimum graduate Cash or computer officers Minimum HSC Below the Above level Minimum Class-VIII Internal sources Other senior posts are filled by the natural 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 addition, officers are regularly sent to Banglades h 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 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 possible time by decrease 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/ cons equence/ project send for 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 up-to-date with national and international environment. Types of programs For fresher, Foundation Courses on elementary familiarity 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 operate of different knowledge areas. In addition, certain priority programs are also being conducted by the Academy. These complicate 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, Co nference, 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/seminars etc. which are finalized by HRD Division in point of audience with various departments and senior Executives at Head Office. Training inputs are everlastingly reviewed/modified for achieving the Banks objectives. Methods in training include discussion/lecture/workshop/case study/games/role play/ characterisation show/simulation/group work & presentation /project visit and so on. On-the-job training Foundation courses have two separate 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.On theoretical training in, say, General B anking 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 transgress understanding. Faculty The Academy has built up a pot 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, search 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 Mark eting 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 modify and upgrading their knowledge.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 peace 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 immed iate 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 maiden for the new and young employees are conducted and their career roadway become smooth by taking this kind of training. (I) Findings ? IFIC bank Ltd. has capable workforce to compete w ith others. ? In Banks, specially in the senior position, experience & better employees are required. ? Remuneration is high in the bank. ? roughly of the employees are fulfill in the bank. ? Working environment in the bank is reasoned & fine. ? Employee welfare program has insurance facility, loan facility, provident fund transfer & 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. ? Promotion depends on the performance & Annual private Report (ACR) scored by the immediate supervisor plus interviews score. ? Bank job is very challenging and stressful, especially in the top- level position. ? Risk management is very elusive task in the bank. ? Sometimes, promotion is delayed because of certain reasons in the banks. ? Sometimes, Employers use nepo tism and secernment at the time of oeuvre and promotion of the employees ?Marketing 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 undue influence to the bankers. They sometimes adventure the bankers for getting loan from the bank. ? Interpersonal relationships & communication are good. ? It is matted job. particularly 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. Music is played in the bank to pull back monotonous working environment. ? Bonus is also paid on the basis of overall profitability of the banks ? Average Job satisfaction level is more than relent i. e. , 3. 37 out of 5 (j) Pay scale Monthly comp ensation 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 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 DRIVER Driver 5300 19 SS Security staff 4200 20 O. ATT. Office attendance 3850 Source IFIC Bank Ltd. graphic 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 match 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 prepare a competitive position & to retain it for the long time.Training, 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 moderate. Most of the employees are comfortable 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 make th e performance of the organization.Employees 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, repeat new technology, initiate new product, train its employees properly to do their job and keep employee satisfied. Banks performance is good for its satisfied employees. Bank is on the right track. Banks HRM indemnity 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 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 take difficulty in work. Take policy to cope with the problems of environment or technological change. Initiate highly change system for the benefits of the clients & earning more profit and reputation as well. Provide overtime allowances 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 pitch shot. (c) Suggestions The Branch Manager & VP has utter about Staff motivati on by management. AVP has said about Better policy for the changing scenario and also withdraw farther 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, 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. Duration of employment .. 6. Duration of employment in this bank .. 7. Why do you admit job in the banking sector? a) High remuneration b) li te job ) Comfortable environment d) Challenging job e) Other, satisfy 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) tart c) Indifferent 10. Your satisfaction level in the bank job a) real high b) high c) moderate d) kickoff 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) hapless 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) indifferent 19. Are you satis fied 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, fifth 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 Forecast external supply Forecast internal supply Predict Demand Assess trend in ? External labor market ? Current employees ? Future organizational plans ? General economic condition 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? h call* 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 Islam 92