Mr. Monzoor Morshed
School of Business
Independent University, Bangladesh
Subject: Letter of transmittal
It is great pleasure to submit a report on “Compensation System of an Organization Operating in Bangladesh" as the fulfillment of the partial requirement of BBA program.
This report is done to find how compensation system operating in Bangladesh. We are working on bank we find how employee get compensation. This report has helped me to find those employees are happy with their compensation.
We sincerely hope that you will enjoy reading this report as much as we enjoyed it writing. If you need any further clarification interpreting our analysis please feel free to ask.
Md. Ahsanul Hoque ID#0820023 ____________________
Ms. Nargis Saba Rani ID#0710210____________________
Ms. Rounak Ashrafi ID#0820533____________________
Ms. Alimoon Ara ID#0720302____________________
Mr. Md.Fazle Sobhan Chowdhury ID#0620326____________________ Ms. Jannatul Ferdous ID#0820519____________________
Ms. Shameema Akter Sathi ID#0820693____________________
We would like to thank Mr. Monzoor Morshed our faculty who has supported us, assisted us and guided us through the preparation of this report. He has been patient and understanding of all our queries and problems, and we are very grateful to him for his help.
We would also like to thank all the employees of Dhaka Bank Limited and United Commercial Bank Ltd. They have been very helpful throughout the preparation of the report & responding to all our queries.
Since ‘‘Dhaka Bank Limited” and “United Commercial Bank Ltd” are the leading Banks in the bank business and are efficiently broadening their horizon, we thought it would be interesting to know about their practices and their strategies which they apply in their day to day activities in controlling the compensation system and human resource and also planning policies to reach the goals in time. ‘’Dhaka Bank Limited” and “United Commercial Bank Ltd” follows stable compensation system, for this reason ‘Dhaka Bank Limited” and “United Commercial Bank Ltd” goes for long term planning, also the strategies ‘Dhaka Bank Limited” and “United Commercial Bank Ltd” followed in their Human Resource Planning is flexibility. We know in compensation system Human Resource planning organization go for reactive HRP. As we know ‘Dhaka Bank Limited” and “United Commercial Bank Ltd” is in now Growth stages.
To estimate future demand and supply of employees “Dhaka Bank Limited” and “United Commercial Bank Ltd” use Managerial Judgment. To forecasting the internal supply of employees they used their own software which is HRIS. For external supply how employees they take fresh University Graduates.
Banks maintains 100% privacy to their employee’s personal information. ‘Dhaka Bank Limited” and “United Commercial Bank Ltd” is now growth stage Company. So, their business has expended dramatically. For that reasons they never face the situation like employee’s surplus. ‘Dhaka Bank Limited” and “United Commercial Bank Ltd” sometimes faces labor shortage problem. In that situation the company go for hire temporary employees and employees are given overtimes.
In the case of compensation system they follow all the process like at first they make a plan then develop a strategy after that they go for searching and screening at last the evaluate the whole compensation system process. For this analysis we, focused on the compensation system practiced by two private banks of Bangladesh.
Table of Contents
1.1Background of the Study6
1.2Objectives of the Study6
1.2.1 to discover the Practice of Compensation System in the selected organization6 1.2.2 to relate classroom study with that of real life situation7 1.3Scope of the Study7