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HR Practice in Bangladesh: A Study on Brac Bank Linited

Faculty of Business & Economics Daffodil International University Prepared for Md. Abu Jafar Faculty of Business & Economics Daffodil International University Uttara Campus

Prepared By “DIU STAR’S” Nymoon Nahar Shathi 121-14-302 Roksana Yesmin suma 122-14-324 Sinthia Bari 122-14-328 Syed Minnat Hossain 122-14-320 Md. Salauddin 122-14-347

After reading this chapter, you should be able to: Objective, and Methodology of this report Brief Activities Of HRM SWOT Analysis Relationship of effective HR practice and organizational success Conclusion

Introduction Banks are financial institutions which deal in money. It takes in money from those who are not using them at the moment and lends it to those who are in a position to use them for production purpose. The HR Strategy encompasses organizational development activities, which aim to improve the Bank’s capacity to achieve greater effectiveness, including improved quality of service. 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 HR practice in very important to achieve organizational success and these practices have positive relationship with organizational success.

Objective of this study: The main purpose of the research is to measure HR Practice of BRAC Bank Limited is the survey method. The main objectives of the study are as follows: The broad objective of the study is to prepare report on “HR Practice of BRAC Bank Limited.” To identify the HR practice Process of BRAC Bank To identify human resource management of BRAC Bank To get a clear concept about effectiveness of HR practice and the limitations of HR management of BRAC Bank Ltd

Methodology of this study: Sources of Information Our report is the “HR practice in Bangladesh: A study Brac Bank Ltd.” will be mostly qualitative in nature. The study will take place in Brac bank. To fulfill the objectives of this study total work is divided into two major parts like Secondary sources and Primary sources. The sources are shown in the following table: Types of Information Sources of Information Primary Information Face to face Interviews Phone interviews etc Secondary Information Internet, printed materials related to study area Books, journal, internet, reports etc.

Limitation of this study: To prepare a report on the topic like this in short time duration is not very easy task. In preparing this report some problems and limitations have encountered which are as follows:   Limitation of time Data insufficiency Lack of records Lack of Fund Fear of disclosure Finally, this is the researcher first experience on job, so there may arise some faults in this report though the researcher have tried his level best to over come the problem.

Background of Brac Bank: BRAC Bank Limited, with institutional shareholdings by BRAC, International Finance Corporation (IFC) and Shore cap International, has been the fastest growing Bank from 2004 to 2007. The Bank operates under a "double bottom line" agenda where profit and social responsibility go hand in hand as it strives towards a poverty-free, enlightened Bangladesh. Today, BRAC has emerged as an independent, virtually self-financed paradigm in sustainable human development. Founded in mid 2003, Shore Cap has a current base of $28.3 million in capital commitments and seeks to support the growth of development finance institutions in Africa, Asia and Eastern Europe.

Mission & vision of Brac Bank: Mission Statement One Of Mission Of Brac bank Ltd is: “Sustained growth in 'small & Medium Enterprise' sector” Vision Statement “Building a profitable and socially responsible financial institution focused on Markets and Business with growth potential, thereby assisting BRAC and stakeholders build a "just, enlightened, healthy, democratic and poverty free Bangladesh".

Human Resource Division in Brac Bank: BRAC Bank Ltd has a small but strong Human Resource team. They are devoted to deal with the followings: • HR planning • Recruiting, selecting • Orientation and socialization • Training and development • Compensation, employee benefit • Placement and performance appraisal of employees • Disciplinary actions • Employee welfare program

HRM Practices in Brac Bank: The overall HR practice of BRAC Bank Ltd are: HR Planning of BRAC Bank Job Analysis Job requirement Job Description Recruitment & Selection

HRM Practices in Brac Bank: Employee training & Development Performance appraisal and promotion HR Compensation Activities HR Controlling Activities

SWOT Analysis: Strength: Weakness: Opportunity: Threats: Company reputation and goodwill Experienced and efficient management team and human resource Good services Larger corporate client base Lack of competitive power of salary scale Lack of adequate marketing (advertising and promotion) effort All branches don’t provide online services Opportunity: Threats: Automation of transaction processes and online branch banking Regulatory environment favoring private sector development Frequent changes of banking rules by Bangladesh Bank Market pressure for lowering of interest rate of debt National and global political unrest

Effective HR Practice & Organizational Success: These HR practice are very effective to improve performance. By this practice they can collect capable and effective employee. Its compensation and benefits even punishment help to receive the best efforts from employee.

Recommendation of the study: The HR recruiting, selecting, training and development process should also be improved among the other branches outside Dhaka. Off the job training should be increased. The process of selecting, training, and maintaining human resources should be more systematic and reliable so that a round outcome can be achieved. Customer service skill are needed some improvement and effective steps should be taken to provide none stop service related training as early as possible. Attractive salary scale should be introduced to attract experienced and skilful HR employed in the other organization.

Conclusion: It is HR which upholds the success of an organization and makes the organization as an ideal renowned organization. The BRAC Bank ltd is one of the renowned private commercial bank in the banking sectors of Bangladesh. Human Resource function is to be designed to attract, obtain retain and maintain the qualified workforce to meet the future organizational needs and challenges. Through efficient handling of HR practice in the banking sector can successfully continue its operation. HR practice confirms the each goal of an organization those fulfils the mission as well as the vision of the organization.