The HR department at first determines the number of post to be promoted each year and depending on the organizational needs, the HR department promoted employees each year. In Pubali Bank Ltd, Promotion are given to Employees Based on their ACR, Educational qualifications, Job related degree like Banking Diploma etc. An employee minimum required 65 marks in 100 marks to be selected initially for considering his Promotion. If an employee gets below the 65 marks, he will not be considered for getting promotion. In100 mark, an employee is needed to obtain at least 75 marks to get promotion finally. Mark is calculated in the following way;
A. ACR-50 Mark
B. Educational Qualification-15 Mark
• SSC-1st Class-4 mark, 2nd Class-3 mark, 3rd class-2 mark • HSC-1st Class-4 mark, 2nd Class-3 mark, 3rd class-2 mark • Degree (General)- 1st Class -3 mark, 2nd Class-2 mark, 3rd class-1 mark • Degree (Hons)- 1st Class-4 mark, 2nd Class-3 mark, 3rd class-2 mark • MS-1st Class-3 mark, 2nd Class-2mark, 3rd class-1 mark
C. Banking Diploma-5 Marks
D. Viva-Voce-20 marks
E. Length of Service (Existing position for 5 yrs)-10 mark
After considering of all the above mentioned factors, the HR department at first sort of all the ACR submitted by the employees and select the persons who are eligible for getting promotion. Then the HR department issues a letter to all eligible candidates and asked for taking part in Viva-voce on a specific date. In this regard, HR department takes all necessary steps to conduct Viva-voce. Basically, HR department Constitute a Board including senior executives of own Bank and from Bangladesh Bank. The main task of this Board is to conduct viva. After completing the Viva-voce, the Board sent the viva result to the HR department. Then the HR department evaluates of all the result regarding every employees. The employees who have got 75% or above mark are only considered as potential employees to get promotion. Then the HR department considering the demand of the organization prepares a final list and sent to the higher authority to get approval to promote employees.
Pay plan & Compensation:
There is no uniform pay plan in our country except some government organizations. Most of the private Banks in our country follows different pay plan and Compensation Strategies. There is no any hard and fast rule rule for any private Banks in our country to implement pay plan. Presently one kind of imbalance competition for fixing salary and other benefits is prevailing among the Private Banks. Some private Banks offering very lucrative compensation package to their employees and some one offering very poor compensation package. For this, discontent among employees is growing very fast and job switching rate is increasing an alarming rate. That is why most of the HR department in private Banking sector are facing serious obstacle to retain their employees. Now they are working to restructure their salary structure and compensation plan. To adjust the present market, the HR department in our Bank has raised basic salary to 40% this year in addition to yearly increment. Yearly increment is given based on their basic salary. The other benefits like medical, house rent and gratuity fund have also been increased proportionately. In our Bank, all employees are entitled to get two festival Bonuses and every year at a time 4-6 incentive Bonus which is equal to ones Basic salary are awarded to every employees based on the respective year bank’s profit.
Reward and Punishment:
If any employees of our Bank show outstanding performance of their own field, he is being awarded in the form of cash incentives, Gold medal or recognition certificate. The basic task is done by HR department. They record the individual performance for any outstanding activities or any misdeed on behalf of the organization on yearly basis. If any employees of the Bank are involved in...