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Chapter 1
1.1-
The main purpose of report is to focus on the recruitment and selection process that
will enhance our skill and broaden our area of knowledge about the interesting
world of human resource and management. Recruitment and selection process is
such type of task that is based more on projections and creativity and it involves lot
of effort to be successful. By making this report we will be able to reach to the indepth of recruitment that will help to identify our lacking of job analysis and this will
be helpful for our future career. This term paper being made as the requirement of
the course human resource Management objectives.
1.2- Limitations
We are really grateful to our course instructor Ethica Tanjeen as for her that we have
got the opportunity to do such analytical task. Through making this term paper; we
will be able to gain the practical knowledge. It will help us to improve our
communication and analytical skill that will benefit us in future. As we are just
studying in BBA so we have some lack of knowledge to do such task efficiently and
effectively and there must be some mistakes in this report. But through doing such
analytical job we can overcome our lacking.
Chapter 2
Theoretical Frame Work
2.1- Recruitment and Selection
Recruitment and selection are two of the most important functions of personnel
management. Recruitment precedes selection and helps in selecting a right
candidate.
Recruitment is a process to discover the sources of manpower to meet the
requirement of the staffing schedule and to employ effective measures for
attracting that manpower in adequate numbers to facilitate effective selection of
efficient personnel.
The unit would relatively enjoy advantage about the availability of information,
control and feedback and various functions/processes of recruitment.
2.2.4- RECRUITMENT PROCESS
Recruitment refers to the process of identifying and attracting job seekers so as to
build a pool of qualified job applicants. The process comprises five interrelated
stages1. Planning.
2. Strategy development.
3. Searching.
4. Screening.
5. Evaluation and control.
The ideal recruitment programmed is the one that attracts a relatively larger
number of qualified applicants who will survive the screening process and accept
positions with the organization, when offered. Recruitment programmed can miss
the ideal in many ways i.e. by failing to attract an adequate applicant pool, by
under/over selling the organization or by inadequate screening applicants before
they enter the selection process. Thus, to approach the ideal, individuals
responsible for the recruitment process must know how many and what types of
employees are needed, where and how to look for the individuals with the
appropriate qualifications and interests, what inducement to use for various types of
applicants groups, how to distinguish applicants who are qualified from those who
have a reasonable chance of success and how to evaluate their work.
1. RECRUITMENT PLANNING:
The first stage in the recruitment process is planning. Planning involves the
translation of likely job vacancies and information about the nature of these jobs
into set of objectives or targets that specify the (1) Numbers and (2) Types of
applicants to be contacted.
2. STRATEGY DEVELOPMENT:
When it is estimated that what types of recruitment and how many are required
then one has concentrate in (1). Make or Buy employees. (2). Technological
sophistication of recruitment and selection devices. (3). Geographical distribution of
labour markets comprising job seekers. (4). Sources of recruitment. (5). Sequencing
the activities in the recruitment process.
3. SEARCHNG:
Once a recruitment plan and strategy are worked out, the search process can begin.
Search involves two steps
A). Source activation and
B). Selling.
A). SOURCE ACTIVATION:
Typically, sources and search methods are activated by the issuance of an employee
requisition. This means that no actual recruiting takes place until lone managers
have verified that vacancy does exist or will exist.
B). SELLING:
In selling the organization, both the message and the media deserve attention.
Message refers to the employment advertisement. With regards to media, it may be
stated that effectiveness of any recruiting message depends on the media. Media
are several-some have low credibility, while others enjoy high credibility. Selection
of medium or media needs to be done with a lot of care.
4. SCREENING:
Screening of applicants can be regarded as an integral part of the recruiting
process, though many view it as the first step in the selection process. Even the
definition on recruitment, we quoted in the beginning of this chapter, excludes
screening from its scope. However, we have included screening in recruitment for
valid reasons. The selection process will begin after the applications have been
scrutinized and short-listed. Hiring of professors in a university is a typical situation.
Application received in response to advertisements is screened and only eligible
applicants are called for an interview. A selection committee comprising the Vicechancellor, Registrar and subject experts conducts interview. Here, the recruitment
5. SELECTION DECISION:After obtaining information through the preceding steps, selection decision- the
most critical of all the steps- must be made. The other stages in the selection
process have been used to narrow the number of the candidates. The final decision
has to be made the pool of individuals who pas the tests, interviews and reference
checks.
6. PHYSICAL EXAMINATION: After the selection decision and before the job offer is made, the candidate is
required to undergo a physical fitness test. A job offer is, often, contingent upon the
candidate being declared fit after the physical examination. The results of the
medical fitness test are recorded in a statement and are preserved in the personnel
records. There are several objectives behind a physical test. Obviously, one reason
for a physical test is to detect if the individual carries any infectious disease.
Secondly, the test assists in determining whether an applicant is physically fit to
perform the work. Thirdly, the physical examination information can be used to
determine if there are certain physical capabilities, which differentiate successful
and less successful employees. Fourth, medical check-up protects applicants with
health defects from undertaking work that could be detrimental to them or might
otherwise endanger the employers property. Finally, such an examination will
protect the employer from workers compensation claims that are not valid because
the injuries or illness were present when the employee was hired.
7. JOB OFFER: The next step in the selection process is job offer to those applicants who have
crossed all the previous hurdles. Job offer is made through a letter of appointed.
Such a letter generally contains a date by which the appointee must report on duty.
The appointee must be given reasonable time for reporting. Thos is particularly
necessary when he or she is already in employment, in which case the appointee is
required to obtain a relieving certificate from the previous employer. Again, a new
job may require movement to another city, which means considerable preparation,
and movement of property.
8. CONTRACT OF EMPLOYMENT: -
After the job offer has been mad and candidates accept the offer, certain
documents need to be executed by the employer and the candidate. One such
document is the attestation form. This form contains vital details about the
candidate, which are authenticated and attested by him/her. Attestation form will be
a valid record for the future reference.
There is also a need for preparing a contract of employment. The basic information
that should be included in a written contract of employment will vary according to
the level of the job, but the following checklist sets out the typical headings:
1. Job title
2. Duties, including a parse such as The employee will perform such duties and will
be responsible to such a person, as the company may from time to time direct.
3. Date when continuous employment starts and the basis for calculating service.
4. Rate of pay, allowance, overtime and shift rates, method of payments.
5. Hours of work including lunch break and overtime and shift arrangements.
6. Holiday arrangements:
i.) Paid holidays per year.
ii.) Calculation of holiday pay.
iii.) Qualifying period.
iv.) Accrual of holidays and holiday pay.
v.) Details of holiday year.
vi.) Dates when holidays can be taken.
vii.) Maximum holiday that can be take at any one time.
viii.) Carryover of holiday entitlement.
ix.) Public holidays.
Mission:
Achieving satisfaction of Almighty Allah both here and hereafter;
Proliferation of Shariah based banking practice;
Quality financial services adopting the latest technology;
Fast and efficient customer service;
Maintain high standard of business ethics;
Balanced growth;
Steady and competitive return on shareholders equity;
Innovative banking at competitive price;
Attract and retain quality human resources;
Extending competitive compensation packages to the employees;
Firm commitment to the growth of national economy; and
Involving more in Micro and SME financing.
3.3- Goal and Objectives of AIBL:
The maxim of the Al-Arafah Islami Bank Limited (AIBL) is to discover a new horizon
of innovative contemporary banking creating an automated and computerized
environment providing one stop service and prepare itself to countenance the new
challenges of globalization and 12th century. One of the main objectives of the bank
is to be a provider of best and effective products and services to cater to the needs
of its corporate clients and provides a comprehensive range of financial services to
national and multinational companies.
3.4 Management of AIBL:
Management is the process of planning, leading and controlling the work of
organizations members and using all available organizational resources to reach
stated organizational goals.
The strength of a bank depends on the strength of its management team. Al-Arafah
Islami Bank Limited is proud to have a team of highly motivated, well educated and
experienced executives who have been contributing substantially to the continued
progress and growth of the bank.
The management of the bank is vested in 23 member board of directors, who
oversee the affairs of the bank through a managing director, the chief executive
officer of the bank. The registered head office of the bank is at Motijheel, Dhaka.
3.5- Products of AIBL as an Islami Bank:
The AIBL offers their customers general banking facilities which ensure the safety of
their money and effective investments & return. Following are the ways through
which banks collects their deposits from the clients:
a) AL-WADIA CURRENT DEPOSIT (CD)
b) MUDARABA SHORT NOTICE DEPOSIT (MSD)
c) MUDARABA SAVINGS DEPOSIT
d) MUDARABA TERM DEPOSIT (MTD)
e) DEPOSIT UNDER OTHERS SCHEMES
f) MONTHLY PROFIT BASED TERM DEPOSIT (PTD)
g) MONTHLY INSTALLMENT BASED TERM DEPOSIT (ITD)
h) MONTHLY INSTALLMENT BASED HAJJ DEPOSIT (MHD)
i) ONE TIME HAJJ DEPOSIT (THD)
j) MARRIAGE & INVESTMENT DEPOSIT (MIS)
k) AL-ARAFAH SAVINGS BOND (ASB)
l) FOREIGN CURRENCY DEPOSIT (FCD)
m) PENSION DEPOSIT SCHEME (PDS)
n) CASH WAQFA DEPOSIT SCHEME (CWD)
The bank strictly follows all steps of recruitment and selection process defined as
per the company policy to achieve the goal, vision and mission & above all keep in
the mind aforesaid objectives.
4.2- RECRUITMENT PROCESS:
The recruitment process putting the right people in right place at the right time- is
one of the most critical and important task for any organization. This is basically
triggering force to bring out competent people by a formal recruitment process.
Recruitment refers to the process of identifying and attracting job seekers to build a
pool of qualified job applicants. The process comprises five phases:
1) Planning
2) Strategy development
3) Searching
4) Screening
5) Evaluation and control
The ideal recruitment program is the one that attracts a relatively large number of
qualified applicants who will survive the screening process and accept positions
within the organization, when offered. Recruitment programs can not attract the
ideal candidate in many occasions either by failing to build an competent applicant
pool, by under/over selling the organization or by inadequate screening process
before they come into selection level. Therefore to approach competent candidate
or incumbent, individual personnel responsible for the recruitment process, must
know how many and what types of employees are required for the vacancies, where
and how to look for individuals with the appropriate qualifications and skill sets.
What ways or inducements to apply or to avoid for various types of applicant
groups, how to distinguish applications that are unqualified from having a
reasonable chance of success and to evaluate their work.
4.3- SOURCES OF RECRUITMENT FOR AIBL:
a) Internal source
b) External source
Internal source: refers to the present working force of the bank. In the event of
vacancies someone already on the payroll is promoted, transferred or sometime
demoted to lower level.
External source: refers to recruitment of new bunch of people from the applicant
pools screened from interested candidates who have applied for the vacancies.
AIBL recruits people from both internal and external sources.
METHOD OF INTERNAL RECRUITMENT:
There are several methods of finding qualified applicants within the bank. Among
them most common are as follows:
Job Position:
Job position involves announcement of job opening to all existing employees. This
announcement carry information about the nature of the position and qualification
needed and any employee who is interested may apply for this job through his or
her line manager or divisional head.
Employee referrals:
Another way to find applicants is through employee referrals by other departments.
Information
communication
among
managers
can
lead
to
identifying
best
This is one of the most popular methods. The most useful advertisement is one that
specifies the exact nature of the job, the qualifications required and the salary
range. The advertising medium should be selected with caution with target
audience in mind.
Internship:
Every BBA student must go through an internship program. It is a partial fulfillment
of the requirement of BBA program. Internship is an important manpower source for
the organization. It can be win-win situation for both the student as well the
employers. For students it may mean being able to home business skills, learn more
about potential employers and know their likings and dis-likings when it comes to
choosing carriers. An employers can use the contribution of interns by considering
and selecting them as full time employees.
4.5- Advantages and disadvantages of internal recruitment:
When internal recruitment is used the vacancy is filled by a person of known ability.
There are some benefits of internal recruitment:
Improve goodwill of the organization
Improve motivation of employees
Improve probability of better selection as the candidates are better known to the
organization
Less costly
In the case of internal recruitment the bank also faces some difficulties:
Prevents fresh people from outside the organization who may be right and
competent
Option is limited within the bank
Inhibits innovation and creativity
4.6- ADVANTAGES & DISADVANTAGES OF EXTERNAL RECRUITMENT:
External recruitment can bring in new ideas and viewpoints. Other advantages are
as follows:
Injection of new bloods with new knowledge and creativity
More economic for the organization in the long run
There are some disadvantages for external recruitment which are as follows:
External recruitment is costly
Cause brain drain due to fear of lack of growth potential
Hanger probability of employee turnover
Demoralizing existing employees
4.7- HOW TO DEFINE SELECTION:
Selection is the process of choosing individuals out of pool of job applicants with
required qualification and competency to fill jobs in the organization. It is the
process of differentiating between applicants in order to identify those with a
greater likelihood of success in a job.
It is a long process, commencing from the preliminary interview of the applicants
and ending with the contract of employment. The process differs among
organization and between two different jobs within the same organization. Selection
procedure for senior manager will be long drawn and rigorous, but it is simple and
short while hiring shop floor workers.
4.8- INTERVIEW & TEST:
Interview and testing play the crucial role for a HR manager nowadays in the
selection process of an organization.
HOW TO DEFINE INTERVIEW
AIBL call applicants whose qualification matches closely with the job requirement. A
face to face interview is organized for job applicants.
TYPES OF INTERVIEW:
Preliminary interview
Planned interview
Non-directive or free interview
Depth interview
Stressed interview
Board interview
TEST:
According H.E BUTT, Testing is a device for measuring qualitatively a typical
sample of mental or motor performance in order to predict what an individual will do
under certain circumstances.
Job applicants of AIBL should go through some types of test. These are as follows:
Different types of standard tests
Intelligent tests
Ability tests
Personality tests
Interest tests
4.9- CONTRACTS OF EMPLOYMENT:
After the job offer has been made and candidates accept the offer, certain
documents need to be executed by the employers and candidates. One such
document is the attestation form. This form contains vital details about the
candidates which are authenticated and attested by him. Attestation will be a valid
record for future reference.
There is also a need for preparing a contract of employment. The basic information
that should be included in a written contract of employment will vary according to
the level of the job:
Job title
Duties
Date when continuous employment starts and the basis for calculating service
Rate of payments and allowances
Hours of work including lunch break and overtime and shift arrangements
Holiday arrangements
Sickness
Length of notice due to and from employee
Disciplinary procedure ( or any reference for it)
Work rules ( or any reference for them)
Arrangement for terminating employment
4.10- CONCLUDING THE SELECTION PROCESS:
After providing the appointment letter to the finally selected employees AIBL
formally ends the selection process.
CHAPTER 5
FINDINGS AND STRENGTHS & WEAKNESSES OF AIBL
5.1- SUMMARY OF THE FINDINGS:
In 2008, the amount of deposit has accumulated to taka 26,685,444,177 and the
total investment of the bank stood at taka 5079.21 million against taka 3728.41
million during the corresponding period of last year. The percentage of increase is
36.23% as against 13% in banking sector.
The bank has earned taka 1,088,561,679 and incurred an expense of taka
288,104,714. At the end of the year the profit before tax has stood taka
800,456,965 which is 182.53% more than taka 283,317,303 pretax income of the
last year.
Staff loans: AIBL offers loan to its own staff after a long period of job. However,
the rate of interest is higher where other banks give loan to their staff at a cheaper
rate. Therefore, staff loses interest to work to some extent.
Internal recruitment might not be effective and fruitful.
Selection process may not be followed in line with requirement where internal
request may be accepted.
Discrepancy in external recruitment source.
Formal recruitment may not be followed on exceptional cases.
5.3- CORE STRENGTH OF AIBL:
The following are the core strength of Islamic bank for which it is now considered to
be the emerging sector for success:
In accordance with Islamic Shariah, all actions of the bank are conducted where
profit is the legal substitute to interest.
The total deposit of the bank was taka 26,685,444,177 at 31st December 2008. At
the same time in the last year it was far lower.
Experienced manpower and efficient employees are being involved in busy
subsection of this section to meet the clients satisfaction.
It distributes a significant amount of profit that they earn by investing different
areas.
It works to the development of socioeconomic and value system of the people that
is not seen in case of conventional banking.
It invests in the human welfare sector. So, this bank practices mainly welfare
banking and invest only those sectors where human welfare can be ensured.
It has very fair and transparent recruitment and selection process.
They have approved formal recruitment and selection policy.
AIBL follows the policy all the time.
AIBL should give a mass advertisement mentioning the different offerings like Brac
Bank, Standard Chartered Bank, HSBC and other local banks are practicing.
AIBL should use the latest banking technology and software to provide better
services to the customers. It will also attract the customers of international banks.
AIBL should pursue advertising and marketing campaign in order to build a strong
image among the people. They should carry out aggressive marketing campaign to
attract clients.
AIBL should offer different types of loans to their own staff immediately after
confirming their job. This loan will influence them for better performance. The
interest rate on this loan must be less than other banks interest rate.
The dependency on head office in every step should be avoided. They should
permit the branches to work independently.
Managers of AIBL should have the power of giving small loans to the clients. It is
very important for the banks to increase the investment.
In Islamic Banking system loan is very lengthy process. AIBL should take steps to
minimize the process of loan system because customers dislike the lengthy process.
The client has to repay the money in the particular branch from where he or she
got the loan. This is why whenever the customer wants to repay the installment in
time. Communication problem sometimes force him or her to become defaulter. If
the AIBL allows the clients to repay money at any branches she or he wants, it will
be better for them.
Bank should offer more facilities to the customers such as credit card, visa card,
ATM machine etc. to survive in the competition.
Best industry practice of recruitment and selection should be followed.
Existing policy for recruitment and selection should be reviewed and revised as
and when required basis.
AIBL should adopt international and local fast runner and reputed banks practices
in their regular and operational activities.
6.2 CONCLUSION
The AIBL has been attempted to operate its business successfully in Bangladesh
since inception. AIBL has already developed an image and good impression among
its clients by offering its excellent services. The success is being resulted for AIBL
from dedication, commitment and dynamic leadership of its management over the
periods. During the short span of time of its operation, the bank has successfully
grabbed a position as progressive and dynamic financial institution in the county. If
the bank goes this way, it is expected that in the near future AIBL may become one
of the top performer in the banking sector. The bank should take necessary actions
for increasing their investment and maintaining this deposit figure in future.
Therefore AIBL should adopt and practice best industry policies for recruitment and
selection that brings significant growth and keep the continuous increment to their
revenue and asset base.
BIBLIGRAPHY & REFERENCES
1. BOOKS, PERIODICALS & JOURNALS
a) DEV NATH, DR. R. M Banks and Legal Environment
b) WENTHER, B WILLIAM & DAVIS, KEITH-Human Resources Management
c) Annual Reports of Al-Arafah Islami Bank Limited
d)Bangladesh Bank publications and circulars
e) Banks circulars and reports
2. WEBSITES
a) www.al-arafahbank.com
b) www.bangladeshbank.com
c) www.google.com