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Introduction
In every organization human is the most important resource if we consider operating the organization properly. With the dynamic environment in business world the proper management of human resources became must. Organizations are crafting strategies to cope with new trends of HRM. The potential for Human Resource Management is superior in Developed countries. Human Resource management practice is in the increasing trend in Bangladesh. The concept is relatively new in this region. In late 90s few foreign organizations operating in here introduced HRM practices. Prime and new organizations no longer think HRM as a subsidiary part of the organizations. Now the practices of HRM are being popular among all sort of organization. In this report I will discuss HRM practices in Bangladesh under the light of Bank Asia Limited, which will give us a clear scenario of HRM practices in Bangladesh.
Bank Asia Limited is a scheduled commercial bank in the private sector established under the Banking Company Act 1991 and incorporated in Bangladesh as a public limited company under the Companies Act 1994 to carry out banking business in Bangladesh. In Bangladesh the HRM practices is popular in banking sectors. In this trend Bank Asia Limited is one of the leading HRM practicing organizations in Bangladesh.
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The Mission statement of Bank Asia Limited is - To assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy. To set high standards of integrity and bring total satisfaction to our clients, shareholders and employees. The Vision Statement of Bank Asia Limited is to have a poverty free Bangladesh in
course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty.
General Products Current Deposit Savings Deposit Short Term Deposit Fixed Deposit Consumer Banking Products Bank Asia DPS Plus Bank Asia Multi Millionaire Bank Asia Money Maximized Bank Asia Earning Plus Online Service Credit Card Features of Bank Asia Credit Card Product type & Annual fees
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21st Centurys HRM in Bangladesh: HR Manual of Bank Asia Limited ATM Services Foreign Currency Account SMS Banking SME Banking Mobile Banking & KIOSK (proposed)
Management Overview
The management of the Bank consists of a team led by senior bankers with decades of experience in national and international markets. The senior management team is ably supported by a group of professionals many of whom have exposure in the international market. Here is the Organogram for Bank Asia Limited-
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If the preliminary interview is successful, the candidate will be invited to another interview. Then the selected candidates have to face the final interview. It is not set that, there will be three interviews. It could be four or more, depends on situation and post. All interviews are panel interview and the questionnaire of the interview could be direct or non-direct.
After selecting from the recruitment process bank offer the candidate to join the bank. A sample of Offer of Appointment Letter is attached in Appendix E. If candidate agree to join the bank then gives him/her appointment letter. In appointment letter the date of joining, which document should be attached, salary parameters are mentioned. With the reference of appointment letter within the joining date the candidate have to come in the Human Resource Department (HRD) in the Corporate Office. The Banking officer of the Human Resource Department (HRD) processes the joining. The candidate have to fill up a joining form, in which there are personal information, references, nominees name and percentage of given power of provident fund etc. S/he has to sign the Code of Conduct, and submit a joining letter and a confirmation letter. Banking Officer verifies his\her certificates, and collect nationality and medical certificates. In terms of some employee like Management 7|Page
Testing Process
The Bank Asia limited takes written examination generally to select Management Trainees. The purpose of this test is to justify candidates cognitive, professional and basic knowledge. The candidate who passes in written examination get a call for interview. First Assistant Vice President (FAVP) of HRD set the venue for interview and calls the top level management to lead the interview. Banking Officers call the candidates to attend the interview. It is not set that, there will be three interviews. It could be four or more, depends on situation and post. All interviews are panel interview and the questionnaire of the interview could be direct or non-direct.
Training
Training is the processes of teaching the employee the skill for their better act upon on the job. Training is very helpful for the employees for their better performance. There are many methods of training, but in the banks of Bangladesh two methods are commonly used, lecture and on-the-job training. Many institute and banks like BIBM, IBA, and World Bank, Asian Development Bank, Bangladesh Bank, Citi Bank etc arrange varies kind of training. Lots of banks of Bangladesh have their own training institute and other banks employee can participate in that training. Bank Asias employees also participate in the other banks training also.
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Performance Appraisal
In Bank Asia Limited Performance Appraisal is done through ACR (Annual Confidential Report. ACR is the evaluation report on the work performance and personal skills. In a ACR report there will be the basic information like employees personnel information, period of evaluation start to end, remarks (if any), rater name etc. This evaluation based on five-liar scale (Below average 1, average 2, good 3, very good 4 and outstanding 5). Bank Asia evaluates two factors, one is personal traits and other is performance factors. In personal traits evaluation there are ten things to consider 1. Discipline and Punctuality 2. Initiative and Drive 3. Team Spirit 4. Intelligence, Diligence and Alertness 5. Honesty, Integrity and Sincerity 6. Interpersonal Relationship Skill 7. Creativity and Innovations 8. Flexibility 9|Page
Remuneration Policy
The scale of pay and other allowances of officers and employees of the bank are prescribed by the Competent Authority from time to time. The initial pay of an employee appointed or promoted to the higher post are ordinarily fixed at the initial stage of the scale of pay of the post to which he promoted or appointed. President and Managing Director to Banking Officer the salary breaks down are Basic pay, House Rent Ceiling, Conveyance Allowance, Medical Allowance and Entertainment Allowance. Here House Rent Ceiling is 54%, Conveyance Allowance is 26%, Medical Allowance is 10% and Entertainment Allowance is 10% of basic salary. Tellers and 10 | P a g e
Festival Bonus Regular employee will be entitled to Festival Bonuses payable on the occasion of Eidul- Azha and Eid-ul-Fitre. The bonus amount will be the half of his/her salary. Performance Bonus If the bank makes profit, the employees will be entitled to 3% of pre-tax profit as performance bonus. Fifty percent of such bonus distributed on the basis of basic pay of an employee, and balance fifty percent on the basis of performance of individual employees. Performance appraisal for the purpose made on the criterion set by the management time to time.
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Leave Policy
Following kinds of leave allowable to employees of the bank Earn Leave On completion of period of one year of continuous service in the Bank all employees get earned leave on full pay. The maximum amounts of such leave that may be accumulate four months. Disability Leave Disability leave may be granted by the Board to an employee who is disabled by injury inflicted or caused in accident. Maternity Leave Maternity leave may be granted by the competent authority to an employee for a maximum three months period at a time.
Casual Leave Casual leave means a leave of absence for very short period of days, granted to an employee who may be unable to attend duty due to sudden illness or urgent private/family affairs. On completion of period of three years of continuous service in the Bank employee may earn study leave without any pay and allowances, for a period not exceeding two years may be granted by the Board to an employee to enable him/her to study considered useful for his/her services under the Bank.
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Recommendation
As a rising trend HRM in bank sector has done pretty well. To boost up in the future we could follow examples of western banks and other institutions. In recruiting in an organization selecting by different criteria should be practiced. Human resources are most important and complex resource of an organization. So implementing any policy that affects employee should be reconsidered and scrutinized before implementation. Nowadays HRM became an important department which contributes a lot to make strategy in an organization. A good HRM department could be the biggest core competence for an organization if employees are handled in a proper way.
Conclusion
Banks are among the most important financial institutions in the economy. They are the principal source of loan able funds for millions of individuals, firms and families and also for many units of government sector. In order to economic sector banking plays an important role in the rapid growth of any nation. Banks thus play an active role in the economic development of any country. Unlike other organization banks use most Human resources and a good employee can be an important asset for an organization. So, crafting HR strategy and implementation of them need solemn 14 | P a g e
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