Effective Hrm Practise in Banking Sector of Bangladesh

Topics: Human resource management, Management, Recruitment Pages: 19 (5192 words) Published: September 2, 2013
Effective Hrm Practise in Banking Sector of Bangladesh
Introduction:
In order to achieve development of both the Bank and the individual members of staff who contribute to its success, the HR Strategy encompasses organizational development activities, which aim to improve the Bank’s capacity to achieve greater effectiveness, including improved quality of service. There are number of HR practices that could be tested in connection with employee performance. We have studied eleven HR practices and their relationship with organizational success which are personnel selection, performance appraisal, incentive compensation, job design, grievance procedures, information sharing, attitude assessment, labor-management participation, recruitment efforts, employee training and promotion criteria. These eleven HR practice in very important to achieve organizational success and these practices have positive relationship with organizational success. Methodology:

The questionnaire was based on questionnaire for measuring impact of various HR practices on employee performance and as well as organizational success. The reason for selecting this questionnaire is that it was used to study the impact of same variables as in present study and was well tested on reliability and validity scales this questionnaire was also correction by our teacher. Questionnaire that was administered consisted of 16 questions and these questions are included Compensation Practices, Promotion Practices Performance Evaluation Practices and Perceived Employee Performance and so on. To complete this term paper we use primary data. Literature Review:

Human resources management includes a variety of activities , and among them is deciding what staffing needs in banking sector and whether to use independent contractors or hire employees to fill these needs , recruiting and training the best employees , ensuring they are high performers , dealing with performance issues and ensuring the personnel and management practices conforms to various regulations. Activities also include managing their approach to employee benefits and compensation, employee record and personnel policies (Garry A. Gelade and Mark Ivery) HRM practices have shown to be valuable to any banking sectors success. Thus to be successful in a global market place, the challenge for all banking regardless of size is to invest in human resources. They need to select and retain talented employees, undertake employee training and development programs and dismantle traditional bureaucratic structures that limit employee’s ability to be innovative and creative (CARL F. FEY). The commonly practices HR activities in banking sector include the following: HR Planning

Recruiting
Selection
Training and Development
Compensation
Performance Management
Employee Relations
Discussion and Analysis:
Under discussion and analysis we will focus on the relationship between effective HR practice and organizational success. We will see the effective HR practice of every bank and the comparison of these banks. Our discussion and analysis will be on 5 banks. 1. BRAC BANK LTD:

One of the leading banks in banking sector of Bangladesh is BRAC BANK LTD. To become more strong and providing superior service, this bank performs in effective HR practice. Planning and Recruiting: As BRAC BANK LTD. is one of the leading banks in Bangladesh; they follow an effective HR policy. BRAC BANK LTD. recruits people both inside and outside of the bank; according to the post and people they need for the bank. The Bank follows the best practice of 80/20 ratio, meaning that 80 % of management population shall be home grown while 20% may be recruited externally in order to infuse new skills and new thinking. Job analysis: A job analysis is a systematic exploration of the activities within a job. It includes: Task/work, activities. Human behavior, Machine, tools, equipment and work aid Performance standards Job context Human requirements/ skills...
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