Internship Report On Human Resource Management Practices of Meghna Bank Limited

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Internship Report

On

Human Resource Management Practices of Meghna Bank Limited

Submitted To:
Gouranga Chandra Debnath

Assistant Professor & Head

Faculty of Business & Entrepreneurship

Daffodil International University

Submitted By:
Name: AbirAhmmad

ID: 151-11-4453

BBA Program (Major: HRM)

Department of Business Administration

Faculty of Business & Entrepreneurship

Daffodil International University

Submission Date

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Letter of Transmittal

Gouranga Chandra Debnath


Assistant Professor& Head
Facultyof Business & Entrepreneurship
Daffodil International University

Subject: Submission of Internship Report on “HR Practice of Meghna Bank Limited”.

Dear Sir,

It is a great pleasure for me to submit this internship report "HR practice


Meghna Bank Limited ". This program is valid from 5th December, 2018 to 5th March, 2019. This is a
special opportunity to fulfill my partial supplement - Bachelor of Business Administration, in this report, I
tried to illustrate HR practices of Meghna Bank Limited. At the time of the internship program you can
represent and monitor the organization at any time Noticed arrested.
I owe you really for your suggestions and recommendations I would be glad if you render your valuable
comments and observations.
Sincerely, Yours

Abir Ahmmad

Roll No: 151-11-4453

Program: BBA (Batch 40​th​)

Major : HRM

Department of Business Administration

Daffodil International University

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Letter of Acceptance

It is proved that Abir Ahmad is a BBA student, a student of Daffodil International University ID
No.115-11-4453, he has completed three months internship program in Meghna Bank Limited
under my supervision, which meets the partial requirement for achieving BBA (HRM) degree.

As far as I know that he successfully tried to handle his report.

I wish her success in all her future efforts.

………………………
Gouranga Chandra Debnath
Assistant Professor& Head
Faculty of Business & Entrepreneurship
Daffodil International University

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Declaration of Student

I announced that the report of Meghna Bank Limited's HRM system was prepared after
completing all my courses under the extensive supervision and guidance of Gouranga Chandra
Debnath Assistant Professor and Head Teacher, Daffodil International, a large number of faculty
members in the Administration of Business Administration. The university I have written this
report on my own and have not been stolen from any sources other than help from books,
journals and web pages mentioned on the reference page.

I declare that the paper is only for academic purposes and not for a prize in degrees.

Sincerely,

…………………

AbirAhmmad
ID: 151-11-4453
BBA Program (Major: HRM)
Department of Business Administration
Faculty of Business & Entrepreneurship
Daffodil International University

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Acknowledgement

This Internship has been a very good experience for me in the way that it has given me the
chance to understand the real world outside the classroom. I’ve learnt a lot about the office
environment and my interpersonal skills & self-confidence have also improved significantly.

I would like to take this chance to convey my sincere gratitude to those without whose
cooperation this report would not have been possible. I would like to give my heartiest gratitude
to ​Gouranga Chandra Debnath ​Assistant Professor & Head Faculty of Business &
Entrepreneurship Daffodil International University ​for issuing a cover letter to Meghna Bank
Limited, where my internship program has been carried out. Then my grateful appreciation goes
to Meghna Bank Limited for rendering me their expertise, knowledge and giving me the
opportunity of having a particular experience through this internship program.

I express my deep sense of gratitude to my honorable supervisor ​Gouranga Chandra Debnath


Assistant Professor& Head Faculty of Business & Entrepreneurship, Daffodil International
University, for his endeavor approach and outstanding supervision by which it has been possible
for me to make a good combination of theoretical & practical knowledge in preparing this report.

I forfeit my respect ​to Md.Alauddin, Branch Manager, Hasanat Mahmud , Deputy


Manager, Meghna Bank Ltd. of Motijheel Branch​. I would also like to express my deep
gratitude to Mrs. Farzana Bably, Mrs. Parvin Islam & Mr. Rony Ray the senior officers of
Meghna Bank Ltd. under whom I have learnt a lot of practical knowledge about HR practices as
well as general banking. I am also grateful to other employees of Meghna Bank Ltd. of Motijheel
Branch.

Last but not the least I also acknowledge my family and friends for their support and
encouragement throughout my internship period and also while preparing this report.

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Executive Summary

Meghna Bank Ltd is a scheduled commercial bank registered by the Bangladesh Bank. It follows the rules
and regulations prescribed by Bangladesh Bank. The functions of the bank cover a wide range of wide
range of banking and functional activities of individuals, firms, corporate bodies and other multinational
agencies. Here the report has been prepared based on 12weeks of practical experience on HR practice of
MGBL and it covers detail about HR activities performed by the bank. Besides it also consists of general
information of MGBL, financial information, learning points, findings, and recommendation. Banking
industry is the knowledge based industry. Knowledgeable and well equipped employee is essential to
operate the business. People can be transformed in to human resources when they are equipped with
adequate knowledge, skills and competencies. In this report I tried to discuss about the various services
offered under HR practice including Selection and recruitment , Training and development ,performance
appraisal and so forth. In the organizational overview I described MGBL profile, MGBL objectives,
management hierarchy and MGBL corporate culture. In the main body of the report, I discussed about the
HR operation of MGBL . This report may also help others to understand the Hr Activities of Meghna
Bank Ltd. This project is done by a survey and face to face Interview with real executives and employees
from Meghna Bank Ltd. This Project provides an analysis and evaluation of the current situation of HR
activities of MBL. One researcher has gone to the MGBL to conduct some survey and conducted some
face to face interview with some of the executives of MGBL. Some financial data of the organization is
also analyzed in this part. I mentioned some findings of the organization, which I follow in my internship
program. In this part of the report, I tried to explain those findings. This report will be helpful for the
person who has intention to learn about HR practice and some other banking institute who wants to
launch HR practice beside this it may help the management of Meghna Bank ltd. Under retail banking,
general banking department contains all deposits name, its activity, interest rate, cash, foreign remittance/
bills, money laundering, prevention of money laundering dispatch, public service.

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Table of Contents
Letter of Transmittal 1
Letter of Acceptance 2
Declaration of Student 4
Acknowledgement 5
Executive Summary 6
CHAPTER 1 9

Introduction 9
Background of the Study: 9
Objective of the study: 9
Significance of the study: 10
Scope of the study: 11
CHAPTAR- 2.......................................................................................................................................

MGBL’s Profile

CHAPTER- 3 12
Methodology: 13
Limitations of the Study: 15
CHAPTER- 4 16
Human Resource Management of Southeast Bank Limited: 18
Recruitment Process of Southeast Bank ltd.: 33
General Condition 34
General Flow Chart of Selection process: 34
Recruitment 37
Training & Development Process: 39
Training: 39
Performance Appraisal: 41
Promotion & Transfer Policy: 45

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Compensation Management: 45
CHAPTER- 5 50
Findings: 51
Recommendations: 51
CHAPTER- 6 53
Conclusion 54
Bibliography 54
References: 54

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CHAPTER 1

INTRODUCTION

Introduction
The bank defines financial institutions that collect deposits from different individuals and organizations
and provide loans to those who need it. But modern banks do not mean the collection and distribution of
money from different organizations. Rather, different services of different organizations make their
business easy. On that day our lives were deeply dependent on the banking system. If we want to invest
our money for profit, we can go to the nearest branch of a bank. So it is clear that banks and banking
businesses are very important for our lives.

In the last two decades, there have been revolutionary developments in the banking sector in Bangladesh.
Expansion of branches of banks, personalization of major national banks, increased banking practices
among the public and the banks of social obligations have been realized. Basic charges are being
introduced in our bank's business practices. So, they help our national economy and social system. In the
growing importance of banking institutions, most universities and educational institutions give priority to
research in banking and its industries. For this reason, I operated my intern at Meghna Bank Limited
(MGBL) and tried to collect knowledge related to banking industry.

Background of the Study:


Gnostic practical applications from any academic course of research are very important. Theoretical
knowledge will become meaningless if it is not implemented in real life. Therefore, the correct application
of my knowledge will make it more effective for some benefit from my theoretical knowledge. Such an
application may be possible through internship.

As part of the internship program of BBA course, I was appointed to internship for three months of
Meghna Bank Limited. Within the internal period of the Meghna Bank, the Motijheel branch is limited.

My report is "HR practice of Meghna Bank Limited", which serves as the head of the BBA department of
my internship supervisor, Gouranga Chandra Debnath, Assistant Professor and BFD Department of
Daffodil International University.

Objective of the study:


The total objective of the study was to explore the status of Human Resource Management. The study has
been conducted with the following objectives:

● To identify the Recruitment & selection process of MGBL.


● To analyze the training and development program of MGBL.
● To evaluate the performance appraisal system of MGBL.
● To recognize the compensation system of MGBL.

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● To make some recommendations on the basis of problems of MGBL.

Significance of the study:


Before entering our international program as a business student, we must learn more about real
knowledge rather than the theoretical knowledge that we acquire by completing all our
classroom courses. To be a good business executive, a person should have excellent theoretical
knowledge of the real business world, and during my internship program, I was open to the real
life scene where I actually used to deal with questions and questions of different clients and their
unique questions. In such a dynamic place as banking sector, we can collect huge real lessons
about the business world of business students.

Scope of the study:


● The researcher went to 1 organization & done some survey on employee satisfaction.
● The researcher took some interview of some of the executives of the bank to know the specific
objectives of this project.
● Researcher had a known person in this bank so the entry was little bit easy.

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OVERVIEW OF MEGHNA BANK :

MGBL’s Profile

A fourth generation bank, Meghna Bank Limited commenced its operation from May-9, 2013 with a

Meghan Bank pay’s pay-off line “​Together We Sail​” exemplifies the bank’s commitment to
contribute towards building up an enlightened and prosperous nation.

The bank has started attaining profitability in its first 10 months operation for its diversified and
innovative customer friendly services and products. It renders all types of commercial banking
services to the customer of all strata in the society within the stipulations laid down in the bank
Company Act 1991 and rules regulations framed by Bangladesh Bank from time to time.

Meghna Bank is a modern, progressive and dynamic bank and plays constructive role in the
economic development of the country. For better customer services, optimum productivity and
higher returns on investments, the Bank is professionally managed by using the modern
information technology in every sphere of its operation. This bank is provided with 15 different
departments and 47 branches.

As the bank is new and still need to be recognized as the supporting force in banking sector, Meghna
Bank tries to get attention from the customer and is actively doing the banking and marketing
activities to get more potential customers. The bank already gets a good response from the

customers.

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CHAPTER- 3
METHODOLOGY & LIMITATIONS

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Methodology:
Different data are required to meet the goal of this report. These data and information were
collected various sources which are shown below.

1. Data is collected by doing studies and printed questionnaire.


2. Google form is used for the data analysis.
3. Survey is done on 1 organization which is Mercantile Bank Ltd.
4. Survey is done over 10 peoples.
5. Survey is done to identify the employee satisfaction.

1. Collection of information

I chose the subject of my research and my supervisor, Gaurang Chandra Debnath, approved this. After
selecting the topic, I discussed with different sections of human resources in the area of ​Motijheel Branch
with Meghna Bank Limited.

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2. Identify data sources

Primary and secondary data are used and required where officials and necessary staff interviews.

3. Collection of information

• Primary information

A) Personal interview

B) practical work experience

C) Collection of information

D) Conversation with the branch officials and staff.

E) Interaction with MGBL customers

• Information Secondary

A. Annual Report

B. Website

C. Articles

D Newspaper

E. Magazine.

4. Classification

Data categorization, analysis, interpretation and presentation, the information gathered from various
sources is widely discussed for understanding.

5. Study results

Studies have been fixed at this stage and they are shown under the concerned. Recommendations are
recommended to overcome the problem.

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The meaning of the means to suggest ways and techniques related to theoretical education with the
policies and work fields.

6. Final Report Preparation

To suggest ways and means the improvement in policy and techniques related theoretical
learning with working sector.

Limitations of the Study:

● Organization didn’t give some information because of HR confidentiality and the growing
competitions between banks.

● Research got done only on 1 organization.

● Researcher was only one person to carry out the project work.

● Time Management was tough.

● The researcher was inexperienced.

● Lacking in questionnaire.

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CHAPTER- 4
ANALYSIS

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Human Resource Practice of Meghan Bank Limited:

Concern about human level in human resource management. This department is not related to the
company's entire manpower planning and cannot be ruthlessly employed without proper
manpower planning of the organization. So, it is very important for a solid human resources
department for an organization. The official Human Resources Division of Meghna Bank
Limited helps identify the fair and consistent human resource management policies and practices
across the organization to deal with its current and potential workshops.

The functions of this section are described as follows:

• Recruitment, selection and placement:

Recruitment
Recruitment process is a process of simply identifying jobs, analyzing job requirements, app
review, screening, shortlisting and selecting the right candidate. In order to increase the
efficiency of the job, the HR team of an organization follows five best practices (shown in the
following picture). These five practices ensure successful recruitment without any interruption.
In addition, this practice also ensures consistency and compliance between the recruitment
processe.The recruitment process is the first step in creating a strong resource base. The process
runs through a systematic approach to managing and managing resources and eventually to offer
the resources to choose the right candidates. The main job of each organization is to appoint and
select the workers according to the company's needs. Similarly, the main job of this department
is to appoint manpower and select. This function is the bank's post-recruitment process. After the
appointment of every employee, he / she is transferred to the required or available location where
he / she is required, from where he joins the bank.

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Recruitment Planning

The first step in the recruitment scheme of the admission plan, where the vacancy is analyzed
and described. It includes work scheduling and the nature, experience, qualifications and skills
needed for the job. A structural recruitment plan is mandatory to attract potential candidates from
a pool of candidates. Potential candidates should be qualified, take the necessary responsibilities
to achieve the objectives of the organization.

Identifying Vacancy
The first and foremost process of recruitment plan is identifying the vacancy. This process
begins with receiving the requisition for recruitments from different department of the
organization to the HR Department, which contains −

● Number of posts to be filled


● Number of positions
● Duties and responsibilities to be performed
● Qualification and experience required

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When a vacancy is identified, it the responsibility of the sourcing manager to ascertain whether
the position is required or not, permanent or temporary, full-time or part-time, etc. These
parameters should be evaluated before commencing recruitment. Proper identifying, planning
and evaluating leads to hiring of the right resource for the team and the organization.
Job Analysis
Job analysis is a process of identifying, analyzing, and determining the duties, responsibilities,
skills, abilities, and work environment of a specific job. These factors help in identifying what a
job demands and what an employee must possess in performing a job productively.
Job analysis helps in understanding what tasks are important and how to perform them. Its
purpose is to establish and document the ​job relatedness​of employment procedures such as
selection, training, compensation, and performance appraisal.
The following steps are important in analyzing a job −

● Recording and collecting job information


● Accuracy in checking the job information
● Generating job description based on the information
● Determining the skills, knowledge and skills, which are required for the job
The immediate products of job analysis are ​job descriptions​ and ​job specifications​.
Job Description
Job description is an important document, which is descriptive in nature and contains the final
statement of the job analysis. This description is very important for a successful recruitment
process.
Job description provides information about the scope of job roles, responsibilities and the
positioning of the job in the organization. And this data gives the employer and the organization
a clear idea of what an employee must do to meet the requirement of his job responsibilities.
Job description is generated for fulfilling the following processes −

● Classification and ranking of jobs


● Placing and orientation of new resources
● Promotions and transfers
● Describing the career path
● Future development of work standards
A job description provides information on the following elements −

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● Job Title / Job Identification / Organization Position
● Job Location
● Summary of Job
● Job Duties
● Machines, Materials and Equipment
● Process of Supervision
● Working Conditions
● Health Hazards
Job Specification
Job specification focuses on the specifications of the candidate, whom the HR team is going to
hire. The first step in job specification is preparing the list of all jobs in the organization and its
locations. The second step is to generate the information of each job.
This information about each job in an organization is as follows −

● Physical specifications
● Mental specifications
● Physical features
● Emotional specifications
● Behavioral specifications
A job specification document provides information on the following elements −

● Qualification
● Experiences
● Training and development
● Skills requirements
● Work responsibilities
● Emotional characteristics
● Planning of career

Job Evaluation
Job evaluation is a comparative process of analyzing, assessing, and determining the relative
value/worth of a job in relation to the other jobs in an organization.

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The main objective of job evaluation is to analyze and determine which job commands how
much pay. There are several methods such as ​job grading​, ​job classifications​, ​job ranking​,
etc., which are involved in job evaluation. Job evaluation forms the basis for salary and wage
negotiations.
Recruitment Strategy
Recruitment strategy is the second step of the recruitment process, where a strategy is prepared
for hiring the resources. After completing the preparation of job descriptions and job
specifications, the next step is to decide which strategy to adopt for recruiting the potential
candidates for the organization.
While preparing a recruitment strategy, the HR team considers the following points −

● Make or buy employees


● Types of recruitment
● Geographical area
● Recruitment sources
The development of a recruitment strategy is a long process, but having a right strategy is
mandatory to attract the right candidates. The steps involved in developing a recruitment
strategy include −

● Setting up a board team


● Analyzing HR strategy
● Collection of available data
● Analyzing the collected data
● Setting the recruitment strategy

Searching the Right Candidates


Searching is the process of recruitment where the resources are sourced depending upon the
requirement of the job. After the recruitment strategy is done, the searching of candidates will be
initialized. This process consists of two steps −
● Source activation​ − Once the line manager verifies and permits the existence of the
vacancy, the search for candidates starts.
● Selling​ − Here, the organization selects the media through which the communication of
vacancies reaches the prospective candidates.

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Searching involves attracting the job seekers to the vacancies. The sources are broadly divided
into two categories: ​Internal Sources​ and ​External Sources​.

Internal Sources
Internal sources of recruitment refer to hiring employees within the organization through −

● Promotions
● Transfers
● Former Employees
● Internal Advertisements (Job Posting)
● Employee Referrals
● Previous Applicants

External Sources
External sources of recruitment refer to hiring employees outside the organization through −

● Direct Recruitment
● Employment Exchanges
● Employment Agencies
● Advertisements
● Professional Associations
● Campus Recruitment
● Word of Mouth

Screening / Shortlisting
Screening starts after completion of the process of sourcing the candidates. Screening is the
process of filtering the applications of the candidates for further selection process.
Screening is an integral part of recruitment process that helps in removing unqualified or
irrelevant candidates, which were received through sourcing. The screening process of
recruitment consists of three steps −

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Reviewing of Resumes and Cover Letters
Reviewing is the first step of screening candidates. In this process, the resumes of the candidates
are reviewed and checked for the candidates’ education, work experience, and overall
background matching the requirement of the job
While reviewing the resumes, an HR executive must keep the following points in mind, to
ensure better screening of the potential candidates −

● Reason for change of job


● Longevity with each organization
● Long gaps in employment
● Job-hopping
● Lack of career progression
Conducting Telephonic or Video Interview
Conducting telephonic or video interviews is the second step of screening candidates. In this
process, after the resumes are screened, the candidates are contacted through phone or video by
the hiring manager. This screening process has two outcomes −
● It helps in verifying the candidates, whether they are active and available.
● It also helps in giving a quick insight about the candidate’s attitude, ability to answer
interview questions, and communication skills.

Identifying the top candidates


Identifying the top candidates is the final step of screening the resumes/candidates. In this
process, the cream/top layer of resumes are shortlisted, which makes it easy for the hiring
manager to take a decision. This process has the following three outcomes −

● Shortlisting 5 to 10 resumes for review by the hiring managers


● Providing insights and recommendations to the hiring manager
● Helps the hiring managers to take a decision in hiring the right candidate

Evaluation and Control


Evaluation and control is the last stage in the process of recruitment. In this process, the
effectiveness and the validity of the process and methods are assessed. Recruitment is a costly
process, hence it is important that the performance of the recruitment process is thoroughly
evaluated.

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The costs incurred in the recruitment process are to be evaluated and controlled effectively.
These include the following −
● Salaries to the Recruiters
● Advertisements cost and other costs incurred in recruitment methods, i.e., agency fees.
● Administrative expenses and Recruitment overheads
● Overtime and Outstanding costs, while the vacancies remain unfilled
● Cost incurred in recruiting suitable candidates for the final selection process
● Time spent by the Management and the Professionals in preparing job description, job
specifications, and conducting interviews.
Finally, the question that is to be asked is, whether the recruitment methods used are valid or
not? And whether the recruitment process itself is effective or not? Statistical information on the
costs incurred for the process of recruitment should be effective.

Selection

The selection process or selection of the right candidate, which is suitable for the vacancy of
any organization. In other words, the interpretation of interviewing candidates and evaluating
their qualities can be given as a specific explanation, which is required for specific work and
then select the suitable candidate for the position. For an empty position a right applicant will
have an asset to the organization, which will help achieve the organization's objectives.

Different authors define Selection in different ways. Here is a list of some of the definitions −
● Employee selection is a process of putting a right applicant on a right job.
● Selection of an employee is a process of choosing the applicants, who have the
qualifications to fill the vacant job in an organization.
● Selection is a process of identifying and hiring the applicants for filling the vacancies in
an organization.
● Employee selection is a process of matching organization’s requirements with the skills
and the qualifications of individuals.
A good selection process will ensure that the organization gets the right set of employees with
the right attitude.

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Importance of Selection

The purpose of selection is to choose the most suitable candidate, who can meet the
requirements of the jobs in an organization, who will be a successful applicant. For meeting the
goals of the organization, it is important to evaluate various attributes of each candidate such as
their qualifications, skills, experiences, overall attitude, etc. In this process, the most suitable
candidate is picked after the elimination of the candidates, who are not suitable for the vacant
job.
The organization has to follow a proper selection process or procedure, as a huge amount of
money is spent for hiring a right candidate for a position. If a selection is wrong, then the cost
incurred in induction and training the wrong candidate will be a huge loss to the employer in
terms of money, effort, and also time. Hence, selection is very important and the process should
be perfect for the betterment of the organization.

Selection Process and Steps


As we have discussed that Selection is very important for any organization for minimizing the
losses and maximizing the profits. Hence the selection procedure should be perfect. A good
selection process should comprise the following steps –

● Employment Interview​ − Employment interview is a process in which one-on-one


session in conducted with the applicant to know a candidate better. It helps the
interviewer to discover the inner qualities of the applicant and helps in taking a right
decision.
● Checking References​ − Reference checking is a process of verifying the applicant’s
qualifications and experiences with the references provided by him. These reference

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checks help the interviewer understand the conduct, the attitude, and the behavior of the
candidate as an individual and also as a professional.
● Medical Examination​ − Medical examination is a process, in which the physical and
the mental fitness of the applicants are checked to ensure that the candidates are capable
of performing a job or not. This examination helps the organization in choosing the right
candidates who are physically and mentally fit.
● Final Selection​ − The final selection is the final process which proves that the applicant
has qualified in all the rounds of the selection process and will be issued an appointment
letter.
A selection process with the above steps will help any organization in choosing and selecting
the right candidates for the right job.
.

• ​Training and development:

Training and development​ involves improving the effectiveness of organizations and the
individuals and teams within them. Training may be viewed as related to more immediate
changes in ​organizational effectiveness​, while development is related to more long-term goals.
While ​training​ and ​development​ technically have differing definitions, the two are oftentimes
used interchangeably and/or together. Training and development has historically been a topic
within applied psychology but has within the last two decades become closely associated
with ​human resources management​, ​human resources development​, ​instructional design​, ​human
factors​, and ​management by well-known financial institutions and others. The bank has given
importance to training in developing human resources at every stage. It organizes various
training courses in regular training institutes. Among these institutions, Bangladesh Institute of
Bank Management is one of the most important institutions where most employees of the bank
are sent to receive training on various banking topics and subjects.

Under the executive development program of the bank, central and high level employees of the
bank were elected to participate in international training programs, seminars, workshops etc.
organize.

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Training and development encompasses three main activities: training, education, and
development.

● Training: This activity is both focused upon, and evaluated against, the job that an individual
currently holds.
● Education: This activity focuses upon the jobs that an individual may potentially hold in the
future, and is evaluated against those jobs.
● Development: This activity focuses upon the activities that the organization employing the
individual, or that the individual is part of, may partake in the future, and is almost
impossible to evaluate.​[

Benefits of Training
Training is crucial for organizational development and its success which is indeed fruitful to
both employers and employees of an organization. Here are some important benefits of training
and development:

● Increased productivity
● Less supervision
● Job satisfaction
● Skills development

Development

It is again one the strong reasons for training and development becoming all the more important.
Money is not the sole motivator at work and this is especially very true for the 21st century.
People who work with organisations seek more than just employment out of their work; they
look at holistic development of self. Spirituality and self awareness for example are gaining
momentum world over. People seek happiness at jobs which may not be possible unless an
individual is aware of the self. At ford, for example, an individual can enrol himself / herself in a
course on ‘self awareness’, which apparently seems inconsequential to ones performance at work
but contributes to the spiritual well being of an individual which is all the more important.

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• ​Performance Appraisal:

Another important activity is to evaluate the performance of the evaluation, evaluate the
employee's actual performance compared to the criteria, and give feedback to employees to
encourage their feedback and encourage them to do better in the future.

Performance evaluation is defined as a systematic process, in which the employee's personality


and performance is supervised by the supervisor or administrator, as well as the predefined
standard, such as work knowledge, quality and output quantity, leadership skills, attitude towards
attitude, presence, cooperation, judgment, versatility, health, initiative and so forth​.

Objectives of Performance Appraisal


▪ To promote the employees, on the basis of performance and competence.
▪ To identify the requirement for training and development of employees.
▪ To provide confirmation to those employees who are hired as probationary employees, upon
completion of the term.
▪ To take a decision regarding the hike in employees pay, incentives etc.
▪ To facilitate communication between superior and subordinate.
▪ To help employees in understanding where they stand in terms of performance.

Performance Appraisal Process

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• Compensation management:

Compensation management means compensation is paid to the employees for allocating money
to the employees so that they can allocate jobs. Organizations have begun to realize the need to
lift their human capital. Compensation management is the most involved in the return on capital
of the people.

Compensation is a tool used by management for a variety of purposes to further the existance of
the company. Compensation may be adjusted according the the business needs, goals, and
available resources.

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Compensation may be used to:

● Recruit and retain qualified employees.


● Increase or maintain morale/satisfaction.
● Reward and encourage peak performance.
● Achieve internal and external equity.
● Reduce turnover and encourage company loyalty.
● Modify (through negotiations) practices of unions.

Components of a compensation system

● Job Descriptions​ A critical component of both compensation and selection systems, job
descriptions define in writing the responsibilities, requirements, functions, duties,
location, environment, conditions, and other aspects of jobs. Descriptions may be
developed for jobs individually or for entire job families.

● Job Analysis​ The process of analyzing jobs from which job descriptions are developed.
Job analysis techniques include the use of interviews, questionnaires, and observation.

● Job Evaluation​ A system for comparing jobs for the purpose of determining appropriate
compensation levels for individual jobs or job elements. There are four main
techniques: ​Ranking​, ​Classification​, ​Factor Comparison​, and ​Point Method​.

● Pay Structures​ Useful for standardizing compensation practices. Most pay structures
include several grades with each grade containing a minimum salary/wage and either step
increments or grade range. Step increments are common with union positions where the
pay for each job is pre-determined through collective bargaining.

● Salary Surveys​ Collections of salary and market data. May include average salaries,
inflation indicators, cost of living indicators, salary budget averages. Companies may
purchase results of surveys conducted by survey vendors or may conduct their own salary
surveys. When purchasing the results of salary surveys conducted by other vendors, note
that surveys may be conducted within a specific industry or across industries as well as
within one geographical region or across different geographical regions. Know which
industry or geographic location the salary results pertain to before comparing the results
to your company.

Different types of compensation

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● Base Pay
● Commissions
● Overtime Pay
● Bonuses, Profit Sharing, Merit Pay
● Stock Options
● Travel/Meal/Housing Allowance
● Benefits including: dental, insurance, medical, vacation, leaves, retirement, taxes...

Recruitment Process ofMeghna Bank ltd.:


The corporate outlook of the bank is to make Meghna Bank Limited as a banking entity that can
resist the trial time and move towards the modern bank worldwide. Upon reaching the goal, the
bank plans to achieve sustainable growth in all spheres of performance indicators. Their tool to
achieve the corporate mission of skilled and experienced human resource banks with the right
initiative to serve customers using the latest and tested banking technology.

The Board of Directors, MGBL, wishes that the bank will continue in the main flow of the
banking sector, it is resolved by observing highly coveted, experienced and dedicated work force
and human resources and others' rules / policies / plans. .

In view of the objectives, the directors of MGBL are happy to follow and ratify the Board's
employees' rules and regulations. These rules will be entitled, "Meghna Bank Limited Employee
Service Rules ". As effective as the staff terms and conditions, service minutes details and
regulations outline the minutes' report.

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General Condition

Apply

Whether these rules should be applied to all employees of the bank should work in Bangladesh or abroad.
It will not be applied unless otherwise specified by the Board in these rules or at any other direction:

• Managing director

• Officers and employees employed on part-time basis

• Personally involved in daily / weekly / monthly wages for a specific job

Range

● These rules are effective from the date of incorporation of the company and before the
introduction of these rules, the bank's services are compulsory on all employees of the bank,
including the employees already employed. However, these rules do not apply to previous
employees who are no longer in the bank.
● Corrected power
● If necessary, the Board of Directors reserves the right to change the rules of any service of the
bank.

New rules or changes

No new rules, changes, changes to existing service rules, will be applicable until the board resolution is
issued and in notification form.

Outlet authorities

The Managing Director can fit under certain conditions, the representative of the executive or
management committee formed by him, all or any of his powers delegated by these rules.

Explanation

The Board's decision to explain rules between the rules and regulations of theMeghna Bank Limited
employee service rules and regulations will be final.

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General Flow Chart of Selection process:
Advertising / HRD, CV submission at head office

Sorted out the application

Preparation of the primary list

Call applicants selected for written test

Written Test Holding

Eligible candidates for interviews (VVA-VOCSI)

Call the selected candidate for the interview

Interview held

Detailed investigation of the applicant

Prepare list of eligible candidates

Final approval of the competent authority

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Physical fitness for employment

Employment and Placement

Written test

A) Written test for recruitment of an external authority management training (MT) and
probationary officers, scheduled by the bank, will be held.

B) According to grading / marking policy, each new candidate has to sit for written examination.

C) The test can be general explanatory, general knowledge, mathematical, English, and Bengali
or may be designated as external authority.

D) Code numbers can be used to avoid "confidentiality" and to avoid "unreasonable


provocation".

E) Eligibility for Viva-Voices will be determined by the management of the bank.

F) The total marks of written examination will be determined by the external authority.

Interview Performance:

The following identified systems will be followed for the interview:

1) Clothing, physical appearance, personality, confidence and power 5

2) Knowledge in related field / subject matter 5

3) General Knowledge 5

4) Analytical ability, communication skills and feasibility 5

Total: 20

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Recruitment and Selection :

Requisition:

Each department of Meghna bank ltd reports to HRD if there is vacancy or if they need to hire new
employee. after that reporting HRD examines the need of hiring. If they can identify the needs of hiring
then they go for circulation with job specification, and job description.

Circulation of Employment:

There are 2 sources for hiring employees-

Internal Source:

First of all MGBL distribute the job circulation among the employees. if they have any qualified known
person who will be competent for that particular post then they can apply to the MGBL for that particular
post.

External Source:

Newspaper:

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MGBL HRD publishes job vacancy circulation on public newspaper. They give circulation in newspaper
if they hire a good number of employees.

Online:

In these days organization are dependent on internet and so is MGBL. They post job vacancy circulation
online all the time. They uses different websites. Example: Bdjobs, LinkedIn E.T.C. These two sources
are the main external hiring source in MGBL. Other than these two MGBL sometimes goes to recruitment
agencies, people can also drop their resume at the headoffice CV box.

Recruiting:

After collecting all the CV’S from all sources, MGBL HRD evaluate those CV’s under different criteria
and those are-

Educational Qualification.

Experience.

Age.

Required Skill.

Written Test:

After Evaluating the CV’s MGBL HRD conducts written test.

Interview: After taking the written test HRD takes Interview’s of those candidates who passed the
written test successfully. Interview Board consist of following members

Branch Manager

Depart Head.

HRD Head.

Medical ,background check & appointment:

Who has made it through all the criteria their background check gets done and a medical examination gets
conducted. After all this one gets his/her appointment.

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Selection:
The selection carries extra weight for any organization

Issues related to organizational performance, recruitment and selection, and legal costs

The obligation depends on it. Due to the importance of the election carefullyMeghna Bank

Limited is a well organized selection process for all types of employees

The process varies for different positions. The focus of the selection process for

Managing Trainer / External / Internal candidate of MGBL, detailed selection

The process of organization is explained below:

A. Reception of Application:

B. Informing Candidates:

C. Assessing Candidates through Written Tests

D. Document Checks

E. Interview

T​raining & Development Process:


Training is a learning experience. This requires relatively permanent change compared to a person who
will improve the ability to perform tasks. We can usually involve training changes in skill, knowledge,
attitude and behavior. It changes what employees know, how they work, their attitude toward their work.

For this, we distinguish employee training and development process.

Both the training and development process are similar to the method used to affect learning. Based on the
training more current day, it focuses on individual current work, specific skills and abilities. Suppose a
person entered the job market during a senior college year, followed the job as a marketing agent.

Training:

It's the learning process to learn about knowledge, skills, attitude and behavior. Training means,

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• Not what you want from life, but know how to reach it.

• Not to know where you want to go, but to know how to tell it.

• How do you want to be superior, but know how to stop it.

Meghna Bank Limited Training Session

Orientation training of inspector officers and trainers officers, including special mention of banking
services and marketing of clients' services.

The main goal of this training is to provide training in various functional areas of general banking. To
assess the various laws related to general banking, including accounting practices for developing
the skills of implementing different concepts, policies, techniques, approaches, banking activities.
Moreover, this training will increase awareness about cash handling, Bangladesh Bank
regulations on currency management. Training also helps to inform customer strategy
development and communication strategy strategies for customer service development. In fact, an
inspection of MGBL's service rules, a statement regarding the mission and outlook of MGBL,
credit risk management, credit management and general banking financing of general banking
and general irregularities of general banking and its loyalty activities. The outline of the training
course also includes banking functions, employee motivation, banking ethics, workplace man
behavior, financial ratio analysis and generally approved accounting policies. On the other hand,
methods of opening accounts and various types of deposit accounts such as CDs, SBs, SNDs,
FDRs, and special savings deposits are also being provided. Knowledge about clearing house -
Internal and external clearing, returning and accounting clearing along with accounting entry is
also taught to the trainers. OBC, IBC. The responsibilities and responsibilities of paying the
banker and collecting the bankers are discussed here. How to issue a check book against theft or
lost check - stop payment, standing instructions appear here Check: Issue, Approval and
Crossing, Features of Check-Element Change Under the Negotiable Instruments Act, 1881, the
essential features of the controversial devices, the types of conflicting instruments and the various

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features These training methods are usually through lectures, discussions, case studies, group
work and presentation. Both welcome the internal and external speaker.

Time workshop

During this training, usually 1 day and officers of different branch offices and head office are present. The
methodology of this training method is shared with group discussions and experiences. Both
welcome the internal and external speaker. The main objectives of time management training are
to develop their knowledge on time management and job performance. It also helps to increase
efficiency for time management. Train time, time planning and time of control and representative
of the authorities, time management and more attention to its importance and effectiveness of
decision-making.

Workshops on leadership, team building and city skills:

The objective of this training is to identify the importance of trainers, leadership structure and the skills of
negotiation. Be familiar with leadership styles, group dynamics, team building processes, and
particularly appropriate negotiation methods for financial institutions. It also provides time
management, concepts, importance and objectives. The main focus will also be the discussion
skills: different skills, interpersonal communication and advice.

Group Dynamics and Team Building: Group type, formal and informal organization, group dynamics and
team building type and process. During this training, there are 1 day and there are different
branch officials and head office. The method of training is the lecture-group discussion-sharing
experience. It is held once a year and can go to both internal and external speaker sessions.

Foundation training on general banking

General banking training is limited to officers working only on the general banking desk. This training
period is 5 days and it takes twice a year. Both the internal and external lectures can take the
session through lectures, discussions, case studies, etc. The main objective of the training process
is to provide training in various functional areas of general banking. Also, the bank's accounting
system and accounting system's double entry system is taught with this training session, along
with interest and product calculation, income statement preparation and balance sheet. This

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includes bill types: internal and external bills. Clearing Functions and Procedures, Information
about Bangladesh Automated Clearing House (BHC)

Development :

Developing learning opportunities for employees to help increase growth. This is an improved

tools which allows employees to progress along a career plan or path with efficiency

and acquire knowledge over time. It's progress according to the needs of workers' advancement

Organization Developmental programs focus on greater efficiency, which is applicable.

Different types of situations, such as decision-making, leadership skills, and goal setting.

Counseling:

This is very essential for new employees of MGBL. This is one of the advice methods

The Senior Employee provides a less experienced employee's guidance. The consultant is a very game

Significant role as he shares knowledge and expertise in helping to grow professionally.

New counselors get huge benefits through this advice approach because they can get help,

advice from their seniors at any time when facing any difficulties. Consultants help new employees

25 Shows a job; He gives guidance and tips on the growth of his career

Encourage other employees to contact.

Seminar:

MGBL organizes seminars for their staff, seminars work as a basis

Future work They ensure that their staff participate in the seminar because it helps the employees

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Increase their knowledge and help with their personal development. Seminar on

Employee motivation, work satisfaction, and increase and reduce morale among employee turnover

Job rotation:

Work rotation involves changing position of employee in the same

Institution and finally return to the original position. MGBL follows horizontal work

For their staff, the rotating method of their service life is in the initial phase. Through this process

Employees can identify their KSA (knowledge, skills and attitudes) and explore their secret

Talents or interests Work deficit encourages workers to deal with work satisfaction

New challenges that can create more motivation for work and reduce employees turnover.

But MGBL cannot implement all workers, especially those who do this rotation strategy those who
specialize in any special work.

Lecture Course:

This is a lecture which is distributed by the teacher before the greater number

audiences. MGBL manages this lecture course for the development of their staff. In this

Provide information and activities related to all the experienced or senior employees of lecture courses

all the categories of MGBL. These lecture course workers can know by staff

Each department can improve the learning and experience of their learning.

Critical event method:

It is a recording of the events of the assessee. It shows what the employee does

Worked or failed. MGBL uses this method to evaluate their employees. Each of these processes

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Employees are evaluated based on their positive and negative performance behavior across

Performance time. This method shows where the employee is great and where

It needs improvement.

Performance Appraisal:

Performance evaluation is the most critical human resource practice in an organization. Disagreements
between the practice staff continue to produce and see it as inappropriate and ineffective. Supervisor for
Performance Assessment Staff and many employees work for different employees for the entire
organization.

Performance appraisal system of MGBL is focused on employees and supervisors after an appraisal the
main responsibility goes to one employee’s supervisor. After an appraisal a supervisor judge its sub
ordinates performance and then helps them to grow according to the result. MGBL performs an appraisal
of its employees once in a year. It gets conducted at the end of the year.

Performance Assessment defines an employee's current or past performance in its performance value.
Compared to the assessment process, the quality of action set, compared to the actual performance of the
employees, compared to the standard of performance, providing employee feedback with the motivation
goal of the person to overcome the lack of performance.

Performance evaluation reasons:

• Performance evaluation provides information which can be used to disseminate information and pay.

• Provide an opportunity to review the behavior related to the employee's work.

• It is part of the career planning process, because it gives the opportunity to review the person's career
plan in its displayed strengths and weaknesses.

Finally, the manager helps improve and improve the company's performance.

Performance evaluation steps:

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• Define work:

• Ensure that the supervisor and the subordinate agree on the duties and work standards.

• Evaluation performance:

Compared to the actual performance subordinates from the standards that have already been set

• Provide feedback:

Performance assessment usually requires more response sessions. Discussed for any development that
requires subordinate performance and progress.

Assessment Method:

Here are some evaluation methods:

• Alternative Ranking Method:

Ranking from the best to the bad, the highest and lowest selection are all ranked until the ranking.

• Combined Comparison Method:

Ranking staff by creating a chart of all possible pairs of employees.

• Behaviorally rated rating scale:

It aims to coordinate the benefits of descriptive critical events by a rating scale anchor with specific
descriptions.

• Management by purpose:

Determine specific measurable goals and progress in progress with each employee.

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Promotion & Transfer Policy:

Promotion:

Promotion is usually a merit-cum-seniority, a specific post. A person will be eligible to qualify for the
promotional qualification and there is a clear recommendation for the promotion. In the last three years, if
no employee is promoted, no other departmental proceeding is going on without warning. In previous
Years employee gets promoted after continuous successful completion of 3 working year in MGBL.
Recently MGBL changed its policy regarding promotion because of competition. Now -a- days they take
written exams and interviews for promoting one person after every 3 years.

Posting and Transition:

An employee joined the Department of Human Resources at the first corporation office. After admission,
he posted the selection officer. Before receiving the posting order the employee does not know which
branch he will be posting. All the work is transferbleble into this bank. The Human Resource Department
maintains a copy of the employee file posting and the posting copy in the employee, the employee's
branch manager.

Compensation Management:
A systematic method for providing financial value for workers in compensation for
compensation management. It includes, recruitment, work performance and job satisfaction. This
is the salary paid by the employee as a result of the change in the employee's contribution to the
organization. It is an organized practice that provides financial and non-financial benefits to
balance the relations of the workers.

Compensation can be used:

• Maintain employment and employees.

• Increase morale.

• Encourage reward and performance.

• To achieve internal and external equity.

• Union practice.

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Prize:

Awards are mainly provided by the performance of employees on the basis of his or her
appreciation. There are two types of prizes.

• Internal prizes:

It gets personal satisfaction that works from one.

For example: being proud of own work

• External rewards:

It includes money, promotion and convenience. In the Outstanding Prize, the common thread is
that they come from external and outside sources of employment.

Components of compensation system:

The compensation system has been created based on certain factors after analyzing the job. The
components of the compensation system are as follows:

• Job Analysis.

• Pay structure.

• Salary survey.

Compensation Policy:

Employee compensation refers to all forms of rewards going to employee from their
employment. It has two main components:

• Direct financial payments: pay, inspiration.

• Indirect financial payments: payment insurance, vacation.

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Advantages:

Benefits are mandatory protection programs. It is not working for the time, optional protection
programs, personal recruitment plans and a variety of other services.

Organizational Practices:

Meghna Bank partly follows the graphic rating scale method. Here each person has different
formats. There are some exceptions to senior arrangements around the senior staff but for the
same

Senior level employee. The format is designed to fill the first page by employees, but all pages
must be signed in. There are points system for staff evaluation.

For example: If employees have a banking diploma they will get extra points. There are signs of
provision for those who can bring more funds for employees. Considering all this, the sectional
keeps the main mark and judges employees. Then a list was sent to the head office for final
approval.

Meghan Bank Limited has two types of compensation system:

Financial compensation

1. Basic salary

2. Bonus

3. Wages

4. Providers

5. Commission

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Non-financial compensation

1. Housing Benefit

2. Transportation

3. Medical

4. Education benefits for children

5. Holidays

Reward and Benefit Patterns:

1. Provident Fund.

2. Group Insurance

3. Profit Bonus.

4. Gratuity

Award Facilities

1. Enhanced.

2. Cash Benefit.

3. Promotion.

4. Best Performance.

Employee Relationship Management:

Employee relation means managing relationships between workers and workers. It is necessary
for the job. If the manager maintains good relations with the worker, enjoys his work and works
effectively.

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Health and safety policy:

This is an important responsibility for the manager of MeghnaBank Limited. Meghna Bank is
committed to managing all health and safety risks related to their business.

Their aim is to identify and remove the health and safety, fire and accident related risks of
employees and visitors.

The principles of bank standard, instructions, all health, safety and fire policies are set by
corporate image. The responsibility of Meghna Bank Limited is achieved by acquiring those
branches in which they are operating.

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CHAPTER- 5

FINDINGS & RECOMMENDATIONS

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Findings:

• Scarcity of standard recruitment and selection policy:

Not to mention their appointment and selection process. Because the Meghna bank, they are employed
and selected on the basis of references. They abuse their power.

• Lack of proper training and development policies:

The proper training and development policies of Meghna Bank are not provided. When a person joins the
MGBL, they only provide seminars that are not enough for an employee. Needing training for banking
and training them

• Imperfect performance appraisal:

MGBL's job analysis process is not the criteria. Because the management of MGBL can not apply
different HRM functions.

• Inefficient compensation policy:

Interesting in MGBL's compensation policy they provide all types of direct and indirect compensation to
employees. Finding a positive that it is available.

Recommendations:

• Structure the standard recruitment and selection policy:

Recruitment and selection is used to hire and hire employees in a scheduled process organization. For a
business, this process can be an important part of the future growth of the organization and the
success of employees' ideas. To help ensure a business, this process should include some factors not
only following internal policies but also with local, state and federal regulations. The job analysis
policy should be taken by the HR Department, Head Office. Job analysis should be well designed
before applying.

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• Proper training and development policy:

Banks are very competitive in Bangladesh. The success of one bank depends on the good service
from the bankers to the bankers. Successful training and development banks can develop highly
trained banks, who can serve customers well and achieve customer satisfaction for the
organization, through the proper training and development process, the staff becomes more
efficient and can contribute well to the organization in each of the tasks. Can ensure competitive
facilities by the employees for a well structured and constructive training organization.
Therefore, the right time for the HR department of the Bangladeshi banking sector to implement
effective training and development programs for the workers through effective implementation
of Human Resource Management.

Meghna bank needs to use their energy positively. They will avoid reference. They have to
remember evenly for every candidate.

• Effective performance appraisal system:

No matter how good your employee is, improve or even have room for the level of performance
until the next level. Employee evaluation is recommended to improve, focus your stand on
constructive with your criticism. It will make sure your staff sees suggestions in a positive light

Meghna Bank will provide effective training and development policies according to their
recruitment. They need to possess special skills in their existing skills and development.

● Efficient Compensation Policy:

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Compensation policy of MGBL is attractive. They provide all types of direct and indirect
compensation to employees. It is a positive finding that I found.

CHAPTER- 6

CONCLUSION

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Conclusion
Meghna Bank Limited Stable growth and continuous achievement among the leading private sector banks
of the country. Since its introduction, the bank has made satisfactory contribution in the growth of the
industry's GDP through surplus trade and commerce, increased industrialization, increasing exports,
creating employment opportunities for unemployed.

Increasing the quality of life of youth, poverty alleviation, limited income groups and overall sustainable
socio-economic development of the country. From the evaluation and analysis of data collected and
analyzed during my involvement as an international, it is clear thatMeghna Bank Limited is performing
satisfactorily in the last years and is increasingly increasing in the country's banking sector to preserve its
unique position. Due to the removal of dynamic investment management policies and effective guidelines,
the profitability of banks is increasingly trending. The bank has all possibilities to maintain this trend of
growth and I think MGBL will be able to do this

Bibliography
Books:

1. Decenzo, David A and Robbins, Stephen P; “Human Resource Management”, John


Wiley & Sons, New York, 2002.

2. Deslarer, Gray, 2003, ​Human Resource Management-​ Ninth Edition, New Delhi​.

References:
Meghna Bank Ltd Academic journal calendar of Training institute

https://www.meghnabank.com.bd/

https://www.meghnabank.com.bd/career.php

https://www.meghnabank.com.bd/annual_reports.php

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