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Introduction
Personnel or Human Resource is the vital factor of sustaining an organization whether production or service oriented. In production oriented organization the capacity, skill, knowledge etc. are not so visible to the general public unlike service oriented organization. May be thats the reason the service oriented organizations especially the banks are so much sensitive while hiring personnel or Human Resource. To choice the right person for the right position is not so easy task. Running a bank is not only providing loan and making deposit. Rather a very critical chain of command is maintained over here to provide loan and make deposit efficiently especially to attract, serve and retain customer, increasing their utmost satisfaction and so forth. Both corporate and retail customers are vital for the bank as one group usually deposit money and another make huge transaction we that means use these money for the growth of GDP. Eastern Bank Ltd. (EBL) Is one of the top most domestic private limited banks in Bangladesh having 24 hours internet banking facility. Each and every year it has a huge turn over. To maintain continuous customer satisfaction and make profit, round the clock it has to compete all other banks and financial organization including some leading organization like City Bank Ltd. HSBC, Brac Bank Ltd. Duch Bangla Bank Ltd. Etc. Probably thats why EBL always try to go through a rigorous recruiting and selection process. They are keen to find out the exact person for the exact position for its near about 34 branches throughout the country. This rigorous process include employment test taken by Institute of Business Administration (IBA), strict reference checking, performance simulation tests and many more. Applicant those who can overcome all the rigorous part of the total process are only given the permanent job offer. One considerable thing is that, the large numbers of its contractual employees. Large number contractual employees of the banks total employees are given the opportunity to show their performance, skill, ability, knowledge for a considerable amount of time. If they can perform well, there is a chance for them to be permanent later on.
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Of course EBL always pays competitive salary to encourage its dedicated employees. To patronize the local expatriates EBL never hire foreign expatriates. They take it as part of their Corporate Social Responsibility (CSR). This is how working in EBL has been a covetable and lucrative offer in Bangladesh now a days.
Source of Data
We have used both sources primary and secondary. We went to the bank (EBL) Head Office 4 times for getting the answers of our questionnaire that is our primary source.
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We were given a brochure of the bank actually the annual report 2008 of the bank and we have visited the banks website that has worked as our secondary source.
Questionnaire
Questionnaires are an inexpensive way to gather data. A well-designed questionnaire that is used effectively can gather information on both the overall performance of the test system as well as information on specific components of the system. Questionnaires are versatile, allowing the collection of both subjective and objective data through the use of open or closed format questions. Considering all these facts into account wed made a questionnaire based on our text (whatsoever process is mentioned there). Wed also included some other relevant question and some p[possible answers from our knowledge and skill acquired so far in our academic and personal life. For the betterment of understanding the questionnaire is enclosed herewith the assignment.
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01.01 Vision
To become the bank of choice by transforming the way we do business and developing a truly unique financial institution that delivers superior growth and financial performance and be the most recognizable brand in the financial services in Bangladesh.
01.02 Mission
We will deliver service excellence to all our customers, both internal and external. We will constantly challenge our systems, procedures and training to maintain a cohesive and professional team in order to achieve service excellence.
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We will create an enabling environment and embrace a team based culture where people will excel. We will ensure to maximize shareholder's value.
01.03 Values
Openness Trust Commitment Integrity Service excellence Responsible Corporate Citizen
Swift Code: EBLDBDDH Address: Head Office Eastern Bank Ltd. 10 Dilkusha C/A Page 5 of 18
To perform these huge job tasks the Bank always needs to attract, recruit and retain large pool of employees. And to stick to the best quality it has to maintain or go through a rigorous recruiting and selection process.
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02.00 Recruiting
It is a process of discovering of potential candidates for the actual and anticipated organizational vacancies. In other words, recruiting is a linking activity- bringing together those with jobs to fill and those seeking jobs.
Banks Practice
Image of the organization Eastern Bank thinks that the image of the bank does not do any harm on its recruiting process as it has a very good reputation in the consumer and corporate market as well as in the job market. Attractiveness of the job Sometimes attractiveness of the job creates some problem. As the positions in Eastern Bank are so covetable and lucrative, the bank has to make short list from a large pool of applicant. This is so time consuming and of course costly to take exam of this large pool of candidates. Internal politics Then they dont feel that there is significant internal politics within the bank during the recruiting process. Government influence They dont even feel any governmental influence. Recruiting cost Finally they take the recruiting as costly. And its obvious that taking exam, checking answer scripts, taking interview cost much to the bank. And its time consuming and
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the top level management need to get them busy for taking interview, giving decision and so on.
Banks practice
EBL depend both on internal and external source for recruiting its employees.
EBL prefer recommendation from its permanent employees, because the employees rarely recommend someone unless they believe that the individual can perform adequately. Such a recommendation reflects the recommender, and when someones reputation is at stake, bank expects the recommendation to be based on considered judgment. For mid level and top level management EBL usually use this source but never for the Management Trainee Officer (MTO) or fresher. Positive sides of internal recruiting o It is a good public relation. o It builds morale. o It encourages good individuals who are ambitious. o It improves the probability of good selection, since information on individuals performance is readily available. o It is less costly then going outside to recruit. o Those chosen already know the organization. o When carefully planned, promoting from within can also act as a traing device for developing middle- and top-level management.
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Other then the above mentioned source, this is another way to find applicant. There are many people who submit their Resume or CV by hand to the banks HR department. Some of them may have any relative who are already in EBL may in top positions or someone can be completely unknown. Sometimes bank use this source when they need to fill a position within very short time and of course with a minimal cost. One thing EBL does not do is they never go to any professional organization, and or employment agencies. In fact this two tools are not that much common in our country.
02.02.03 Alternatives
Another thing EBL never does is seeking any help from alternative source like temporary help, employee leasing, independent contractors.
Banks practice
Getting job is a full time activity EBL always try to let the applicants realize that getting the job in EBL is a full time activity. They will have to pass the initial screening, employment tests, interview and other gradual processes to get the job. So, obtaining a job in EBL should be the major goal of any applicant. Start Early EBL always encourages the applicants to apply early in response to the advertisement since it shows the seriousness of the applicant of the desired job that they want to get. Prepare resume EBL wants all the job applicants to circulate information that reflects on their strengths and to send their information to the HR department in a format which is understandable and consistent with the EBLs hiring practices.
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03.00 Selection
The selection process is composed of steps, each of which provides decision makers with information that will help them predict whether an applicant will be a successful job performee. Successful selection activities entail a lot of careful planning and careful thought.
Selection process
Failed to meet minimum qualification
Failed test
Employment test
passed
Problem encountered
Reject Applicant
Passed Medical/ physical examination if required (conditional job offer made) Passed Permanent job offer
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Banks practice
Interview effectiveness EBL design their interviews to create a difficult environment in which the applicant is put to the test to asses his/her confidence levels. EBL also discloses the other motivational factors rather than the base salary in the interview session. Impression management EBL also value the term impression management. It influences the candidates performance evaluations by portraying an image desired by the appraiser. Sometimes, the management allows salary negotiation. Behavioral interview EBL practice behavioral interview sometimes to observe the candidates not only for what they say but how they behave under stress and other situations. EBL, for this, marks the nonverbal communication. EBL uses behavioral interview mainly for the MTO and Mid-level positions.
Banks practice
from court or something like this.
Banks practice
EBL uses this term in different way. Other then directly stating this as conditional job offers they term it as contractual job. If EBL management are satisfied and positively assured of the candidates background, they offer a conditional job offer to the candidate and give him/her a chance to make the job permanent by showing good performance. In this offer, EBL also discloses the salary range for the position. Employees are given training where they have lackings and to make them understand the organizations culture, how to use the premises and so on.
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Banks practice
Before giving the permanent job offer, EBL takes the physical exam that show whether the minimum standards of health exist in candidates to enroll in companys health and life insurance programs.
Banks practice
The decisions of employment are actually made by the HR department of EBL. After all the necessary steps and completed especially after the comprehensive interview the successful applicants are given the job offer letter.
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Conclusion
Being one of the large private banks Eastern Bank Ltd. is providing very good job opportunity with competitive salary. By their excellent service in 35 branches in five divisions, they are always contributing to minimize the unemployment as well as encouraging the talent young generation to accept newer and newer challenge day by day. Not only proving job, EBL arrange training, in home and abroad for the betterment of its employees. This increase organizational commitment, less turnover and of course increase productivity/ in other words profit. Performance based promotion make the employees more energetic, enthusiastic, sincere, creative and hardworking, and dedicative to the customer and to the bank particularly. To increase the motivation of the employees EBL often arrange classical musical show (Sur Sondha) at Bengal Gallery/ Shilpaloy at Dhanmondi, Dhaka. Nonetheless, its beyond explanation that they are also helping to increase our GDP, promoting international trade like export and import and so on.
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Appendix
Human Resource Management By Devid A. Decenzo and Stephen P. Robbins Human Resource Management By Fisher http://www.ebl-bd.com/ Annual report (Eastern Bank Ltd. 2007-8) Questionnaire
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