This report is an attempt to reflect the position of prime bank ltd by lawjuris

This report is an attempt to reflect the position of Prime bank Ltd

Chapter-One Introduction The human resource management function includes a Varity of activities and key among them is deciding what staff you have and whether to use independent contractors or hire employees to fill the needs, recruiting and training ,the best employee ,ensuring they are high performance, dealing with performance issues. So E-recruiting is the most important issue of Prime Bank Ltd. This bank fulfill there needs Appling this way .Now a days e-recruiting is the most popular way of many organization. Prime Bank Ltd provides this way in job applicants. As result bank easily collect resume from applicants and easily serve applicant resume. Itâ&#x20AC;&#x2122;s faster of banking human resource activities. E-Recruitment covers a range of Web-based application tools used for the provisioning (typically) of human resources. These applications assist in the recruitment of suitable candidates for vacant positions. Some applications do this by semi-automating the entire recruitment and hiring process. E-recruitment applications (or software packages that are web-enabled) typically enable recruitment teams to create job postings, manage job application responses, schedule interviews and manage other recruitment tasks. This dramatically reduces the labour and money spent on physical recruitment. This report is an attempt to reflect the position of Prime bank Ltd in the banking industry of the country in respect of her activities in the arena of Human resource Department.

1.1 BACKGROUND OF THE STUDY: We are living in global village now. Globalization is combination or much freer in goods and service. Commercial banks in Bangladesh economy are to face an increasing competition for their business in coming days, like any other emerging market economies. Their business is no longer remaining easy as they earlier. The real change in the banking business has started to come with the governmentâ&#x20AC;&#x2122;s decision to allow the business in the private sector in the middle of the Eightyâ&#x20AC;&#x2122;s. This report is an effort to reflect a clear idea about the strategies, activities, and performance of Prime Bank Ltd. regarding human resource department.

The human resource department is the important part for any organization. Itâ&#x20AC;&#x2122;s maintained and good manage of organization employees and provide compensation, salary and other benefit. So it is very important to have an effective and sound management system in Erecruiting practices of prime bank ltd.. As a business studies student it is necessary for me to have vast acquaintance regarding e-recruiting practices and I wanted to be acquainted with the whole procedure of e-recruiting. 1.2ORIGIN OF THE REPORT: This report is originated having three months long internship program originated after completing the MBA program from Department of Human resource Management under Stamford University Bangladesh. During the internship a student has to undertake an arena of investigation of any organization for in depth study. This report is the outcome of the assigned internship, suggested by the human resource department of Prime Bank Limited, Head Office. 1.3 OBJECTIVE OF THE REPORT: In this report, I tried to furnish all sorts of practical dealings that are conducted in case of handling various types of activities in human resource department, the theoretical aspects, that is what should be the procedures and requirements maintained from first to last, and actual practices as well as the ultimate gain for the bank in conducting e-recruiting activities are mainly discussed. So the purpose and objective of this report can be summarized as follows: As it is an overall study of human resource department so I am going to analyze the related factors of E-recruiting process of Prime bank Ltd. Specific:

To focus on the Brief description of human resource department To know deeply about e-recruitment process To examine bankâ&#x20AC;&#x2122;s performance in human resource department To focus on some other activities of e-recruitment of bank To specify some findings on given topic To reveal some recommendation for better performance in human resource department

1.4 METHODOLOGY: The methodology of this report is very different from conventional reports. I have emphasized on the practical observation though this report has to need some primary and

secondary data. Nevertheless, eventually almost the entire report consists of my practical observation. 1.5 SOURCES OF DATA COLLECTION: While preparing the report, The taken information from the following sources: 1.5.1 Primary Sources: 

Observation of banking activities.



Overflowing Conversation with the in-charge of the HR department of Prime Bank Limited.



Working with my own experience while internship program.



Questioning and interviewing



Collect data deferent level of employees.

1.5.2 Secondary Sources: •

Daily diary (containing my activities of practical orientation in Prime Bank Ltd) maintained by me,

•

Various publications on Bank

•

Websites,

•

Annual Report of the bank

•

Personal investigation with bankers,

•

Different circulars issued by Head Office and Bangladesh Bank

1.6 SCOPE OF THE REPORT: The report is highlighting the major functional area of Human resource department and procedure of E-recruiting. It is not possible to pinpoint the each & every aspects of human resource department due to this short span of time. 1.7 LIMITATION OF THE REPORT: During internship period, the faced some problems, which hindered me to cover all the aspects of my study, like: •

The Human Resource Department is very busy could not get information as required study although they have good intention to provide.

•

Three-month time is not sufficient to have practical knowledge and prepare a report such a big subject of E-recruitment While colleting data they did not disclose much information/data due to the secrecy of the organization.

•

Lacking of time of banking work

•

Rush and business another reason.

•

No statistical analysis is done.

•

Maximum time HR employee is more busy

•

Everybody is not frankly.

So that’s all problem facing prepare my report.

Chapter- Two Overview of Banking Sector in Bangladesh 2.1 INTRODUCTION:

This chapter discusses the overview of the banking sector which gives us a better understanding regarding the ancient banking and modern banking. After all that deals with the organizational overview which includes the history, vision, and mission. The Jews in Jerusalem introduced a kind of banking in the form of money lending before the birth of Christ. The word 'bank' was probably derived from the word 'bench' as during ancient time Jews used to do money -lending business sitting on long benches. First modern banking was introduced in 1668 in Stockholm as 'Svingss Pis Bank' which opened up a new era of banking activities throughout the European Mainland. In the South Asian region, early banking system was introduced by the Afgan traders popularly known as Kabuliwallas. Muslim businessmen from Kabul, Afganistan came to India and started money lending business in exchange of interest sometime in 1312 A.D. They were known as 'Kabuliawallas'. A bank is a financial institution whose main objective is the mobilization of fund from the surplus unit to deficit unit. In the process of acceptance of deposits and provision of loan,

Bank creates money. This characteristics feature sets bank apart from other financial institutions. A bank is an economic institution whose main objective is to earn profit through exchange of money and credit instrument. 2.2 BANKING INDUSTRY IN BANGLADESH AND ITS OPERATION: Bank is very old institution that is contributing toward the development of any economy and is treated as an important service industry in modern world. Now a day the function of bank is not limited to with in the same geographical limit of any country. Due to globalization and free market economy, this industry is facing severe competition in any country and implementation of WTO will further increase competition. The overall performance of Bank does not only depend upon the banking industry itself but also on the performance of economy where it is operating. After the birth of Pakistan in 1947, the State Bank of Pakistan, the central bank of the Country, came into being in 1948. Later, the National Bank of Pakistan, a commercial bank was set up in 1949. In all, 36 scheduled commercial banks were in operation throughout Pakistan. Pakistanis owned most of these banks. Only three of them, namely, National Bank of Pakistan, Habib Bank, and the Australasia Bank had a branch in East Pakistan in 1949. During 1950-58, three other Pakistani-owned banks, the Premier Bank, Bank of Bawalpur and Muslim Commercial Bank had opened branch offices in East Pakistan. Four Pakistaniowned banks, the United Bank, Union Bank, Standard Bank and Commerce Bank conducted business in the province during 1959 - 1965. The province had only two banks owned by local business groups and with headquarters at Dhaka, the Eastern Mercantile Bank (now PUBALI BANK)

and Eastern Banking Corporation (now

UTTARA BANK),

established in 1959

and 1965 respectively. The banking system in the territory of Bangladesh grew slowly during the British and Pakistan periods. There were only 25 bank branches in 1901 and the number grew to 668 'n 1946. Creation of Pakistan was a deterrent in the sector as was evidenced by the closure of bank branches, which came down to 148 in 1950. In 1965, the number rose again to 545 Subsequent years, however, showed dramatic changes in the situation and the number of bank branches increased to 1,025 in 1970. The banking system in Bangladesh started functioning with 1,130 branches of 12 banks inherited from Pakistan. Subsequently, these banks were nationalized and renamed after being merged into six banks. The new names of the banks were the

SONALI BANK

(The National Bank of Pakistan, The Bank of Bawalpur,

The Premier Bank), Bank, Union Bank), BANK

AGRANI BANK RUPALI BANK

(Habib Bank, Commerce Bank),

JANATA BANK

(United

(Muslim Commercial Bank, Standard Bank),

PUBALI

(Australasia Bank, Eastern Mercantile Bank) and

UTTARA BANK

(Eastern Banking

Corporation).

2.3 BANKING OPERATION IN BANGLADESH: The development process of a country largely depends upon its economic activities. Banking is a powerful medium among other spheres of modern socio-economic activities for bringing about socio-economic changes in a developing country like Bangladesh. Three different sectors like Agricultural, Commerce and Industry provide the bulk of a country's wealth. The nourishment of these three is only possible through an adequate banking facility. The banking service facilitates these three to be integrated in a concerted way. For a rapid economic growth a fully developed economic system can provide the necessary boost. The whole economy of a country linked up with its banking system. With the passage of time the functions of a bank, lending is far by the most important. They provide both long-term and short-term credit. The customers come from all walks of life, from a small business of a multi-national corporation having its business activities all around of the world. The banks have to satisfy the requirements of different customers belonging to different social groups. Banks particularly have a very important role in rising of the financial resources because of their capacity to tap resources from a wider spectrum of people and diversified nature of their operations. The banking business has therefore, become complex and requires specialized skills. They function as a catalytic agent for bringing about social, economical, industrial, and agricultural growth and prosperity of the country. Ranks are the custodians of the society's economic resources and if they are socialized, the socialistic government can acquire with them a tremendous power of intervention in every type of business enterprise, both large and small and wide spread power of control and planning over the entire economy. In our country where about 80% of the population lives below the poverty line, this poverty line can be declined by the success of banks. So bank plays an active role in the economic development, as a result different types of banks have come into existence to suit the specific requirements.

I regardless the numbers of bank nature of their functions and activities, a central bank exists to regulate the activities of other banks. All the commercial private/ nationalized/ specialized banks perform service related activities within the jurisdiction of the central bank. In our country, Bangladesh, the role of the central bank is entitled to be executed by the Bangladesh Bank. BANGLADESH BANK,

the central bank of the country, was set up on 16 December 1971 by the

Bangladesh Bank Order 1972. The government accepted the assets and liabilities Of the Deputy Governor's office of the State Bank of Pakistan in Dhaka and declared the Bangladesh Bank as a fully effective and permanent central bank. To conduct banking in Bangladesh, all banks have to have licenses from the Bangladesh Bank under the Bank Companies Act 1991. To be able to get a license, all intending banks have to be registered with the Registrar of Joint Stock Companies under the

COMPANIES ACT

1994, and collect Certificate of Incorporation. Moreover, to collect capital through public offerings of shares, intending banks have to obtain permission from the countries. 2.4 SECURITIES AND EXCHANGE COMMISSION: Banking institutions in Bangladesh can be classified under different groups. Most banks fall under the category of branch banking i.e. the banks operate through branches at home and abroad under the control of their head offices. Foreign branches of Bangladesh banks have to abide by home country regulations. 2.5 UNDER THE OWNERSHIP-BASED CLASSIFICATION Banks in Bangladesh are classified as government/nationalized, private, foreign, and joint ownership banks. The country had 6 (Six) nationalized commercial banks (NCB) until 1983, when one of them, the Rupali Bank was denationalized. Another government bank, the Pubali Bank, was denationalized in 1986.

2.6 DOMESTIC PRIVATE BANKS:

INTERNATIONAL FINANCE AND INVESTMENT BANK (IFIC ISLAMI BANK BANGLADESH

(1983),

UNITED COMMERCIAL BANK

(1983),

BANK, CITY

estd. 1976),

BANK (1983),

NATIONAL BANK (1983), ARAB BANGLADESH BANK (1985), AL BARAKA BANK (1987), EASTERN BANK (1992), NATIONAL CREDIT AND COMMERCE BANK (1993), PRIME BANK (1995), SOUTH-EAST BANK (1995), DHAKA BANK (1995), ALARAFAH ISLAM! BANK (1995), SOCIAL INVESTMENT BANK

1995), PREMIER

BANK (1996), DUTCH-BANGLA BANK (1996), MERCANTILE BANK (1999), STANDARD BANK (1999), ONE BANK (1999), EXPORT IMPORT BANK (1999), BANGLADESH COMMERCE BANK (1999), MUTUAL TRUST BANK (1999), TRUST BANK (1999), BANK ASIA (1999) and FIRST SECURITY BANK (1999). The three NCBs now operating in the country are the SONALI BANK, JANATA BANK , AGRANI BANK. and RUPALI BANK There is a special group of nationalized banks known as specialized or development financial institutions to support specific economic purposes of the country. These include two for agricultural development, the bangladesh krishi bank (estd. 1973) and RAJSHAHl krishi UNNAYAN bank (estd. in 1987 with branches of Bangladesh Krishi Bank in Rajshahi division), one for industrial development, the bangladesh shilpa bank (estd. 1972) and one for supporting unemployed youths in their selfemployment activities, the employment bank (estd.1997). The country has a Co-operative Bank established in 1948, as the apex institution of all co-operative societies in Bangladesh. The main function of this bank is to mobilize small savings and assist members of cooperative societies to build up capital and provide them with loan/financial assistance for the development of agriculture, commerce, fisheries, urban and rural cottage industries, etc. It also provides loan to promote other income generating activities in the society.

2.7 FOREIGN PRIVATE BANKS WHICH HAVE BRANCHES IN BANGLADESH: Are the

STANDARD CHARTERED

GR1NDLAYS BANK, AMERICAN EXPRESS BANK,

STANDARD CHARTERED BANK, STATE BANK OF

INDIA, CREDIT

AGRICOLE

IN'DOSUEZ, HONGKONG AND SHANGHAI BANKING CORPORATION (HSBC), NATIONAL BANK OF PAKISTAN, CITIBANK N A, HABIBBANK,

and HANVIT BANK.

Some branches of both nationalized and private commercial banks have been permitted to conduct foreign exchange business under the Foreign Exchange Regulation Act 1947. Such

banks are called authorized dealers and their club or association bears the name RAPED A Bangladesh Foreign Exchange Dealers Association. Apart from the authorized dealers, more than 400 Money Changers throughout the country are engaged in buying r and selling of foreign exchange. Depending upon the relationship with and the degree of control of the Bangladesh Bank banks in Bangladesh are divided into scheduled and non-scheduled banks. Scheduled banks are enlisted by the Bangladesh Bank under the provisions of section 37 of the Bangladesh Bank Order 1972. They are promise bound to obey central bank instructions, rules and regulations especially, those relating to required capital and provisions, statutory liquidity reserves, audited returns etc. Through scheduling, banks gain special status and enjoy some special facilities from the central bank such as re-discounting, participation in the money market, membership of the clearing house and deposit insurance scheme. Non-scheduled banks do not enjoy such privilege. The list of non-scheduled banks in Bangladesh includes the Eden Bank, Saidpur Commercial Bank, Comilla Co-operative Bank, Dinajpur Industrial Bank, Rajshahi Bank, Shankar Bank, Faridpur Banking & Corporation and Madaripur Commercial Bank. Banks in Bangladesh have correspondent relationship with other banks in foreign countries in order to sell their services or to purchase services from them. Although only three in number, nationalized commercial banks dominate banking activities in the country, especially the mobilization of deposits and making advances. Their share in total bank deposits on 31 March 2000 was 57.28%, while that of domestic private banks, foreign private banks, and the specialized banks was 29.01%, 8.42% and 5.29% respectively. The share of NCBs, domestic private banks, foreign private banks and specialized banks in advances on the same date was 51.66%, 29.25%, 6.03% and 13.06% respectively. Laws that directly regulate the banking system of Bangladesh are: Bangladesh Bank Order ! 972; Bank Company Act, 1991; Bangladesh Bank (Nationalization) Order 1972; Companies Act 1913 and 1994; Deposit Insurance Order 1984; Bankruptcy Act 1997; Insolvency Act 1920; Financial Court Act 1990; Foreign Exchange (Regulation) Act 1986; Financial Institutions Act 1993; Financial Institutions Rules 1994; and Co-operative Societies Ordinance 1984. Laws that indirectly influence the banking system and for which references are made in the Banking Company Act 1991 are: Code of Civil Procedure 1998; Code of Criminal Procedure

1898; Evidence Act 1872; General Clauses Act 1897; Limitations Act 1908; Negotiable Instruments Act 1881; Penal Code 1860; Trust Act 1882; Transfer of Property Act: and Bangladesh Chartered Accountant Order 1973.

Sources: Chowdhry, L.R. (2002, 2nd edition), â&#x20AC;&#x153;A Text Book On Banker Advances Some words used as a abbreviate form in the diagram are: BKB

Bangladesh Krishi Bank

RAKUB

Rajshahi Krishi Unnayan Bank

BSB

Bangladesh Shilpa Bank

BSRS

Bangladesh Shilpa Rin Shangshta

BASIC

Bangladesh Small Industries & Commerce.

BSBL

Bangladesh Samabaya Bank Ltd.

CCBL

Central Co-operative Bank Ltd.

PCS

Primary Cooperative Societies.

2.8 OVERVIEW OF PRIVATE BANK: The development process of a country largely depends upon its economic activities. Banking is a powerful medium among other spheres of modern socio-economic activities. So private bank is a important role o country economic situation. This type of bank work within country branches way are the International Finance and Investment Bank (IFIC

BANK,

estd. 1976),

islami bank bangladesh (1983), united commercial bank (1983), city BANK (1983),

1995), PREMIER

DUTCH-BANGLA BANK (1996), MERCANTILE BANK (1999),

STANDARD BANK (1999), ONE BANK (1999), EXPORT IMPORT BANK (1999), BANGLADESH COMMERCE BANK (1999), MUTUAL TRUST BANK (1999), TRUST BANK (1999), BANK ASIA (1999) and FIRST SECURITY BANK (1999). All this are private bank in Bangladesh. They are various functions. They established district wise branches. These branches maintain all banking work all Bangladesh. This private bank provide various loan like education loan, business loan, car loan, family loan and other loan. The ratio of bank deposits to GDP in Bangladesh has increased from 19.53% in 1990 to 32.35% at end 2001. As the private sector banks are still in a rudimentary stage, they are way behind the SCBs in terms of deposit mobilization and asset accumulation. But classified loans of SCBs are large, constituting 3.94% of GDP in 1990 and 8.66% in 2001. In 1990, the SCBs had 27.59% of their total outstanding loans classified, compared to 23.73% in private commercial banks and 20.65% in foreign commercial banks. The NPL ratio reached 44.62% in the SCBs and 25.76% in private banks, So this are all private bank activates and concept. 2.9 OVERVIEW OF PUBLIC BANK: The Jews in Jerusalem introduced a kind of banking in the form of money lending before the birth of Christ. The word 'bank' was probably derived from the word 'bench' as during ancient time Jews used to do money -lending business sitting on long benches. First modern banking was introduced in 1668 in Stockholm as 'Svingss Pis Bank' which opened up a new era of banking activities throughout the European Mainland. Public bank is most important role on economic activities in country. This bank ownership is government. Its mainly control by central bank. There are some public bank now operating in the country are the SONALI BANK, JANATA BANK , AGRANI BANK. and RUPALI BANK There is a special group of nationalized banks known as specialized or development financial institutions to support specific economic purposes of the country. These include two for agricultural development, the bangladesh krishi bank (estd. 1973) and RAJSHAHl krishi UNNAYAN bank (estd. in 1987 with branches of Bangladesh Krishi Bank in Rajshahi division).They provide various service like agrictural loan ,business loan and other

government work .This bank license provide by central bank. They work under by government rules & regulation. Public bank collect more foreign currency. And this currency expense for country develop purpose. The established branches all over country and service provide all level of people. So all this is the information of public bank. 2.10 OVERVIEW OF FOREIGN PRIVATE BANK: Foreign bank another important banking sector in Bangladesh and they are more helpful for economics situation in bank n country but now a days, many foreign banks are established in Bangladesh. They can provide much service in country. They similar service provide as domestic private bank but this bank introduce more new technology of our country like online banking system, ATM Card, Master Card and other card system banking. There are some foreign private bank like the standard chartered GR1NDLAYS BANK, AMERICAN EXPRESS BANK, STANDARD CHARTERED BANK, STATE BANK OF India, credit AGRICOLE IN'DOSUEZ, Hongkong and Shanghai Banking Corporation (hsbc), national bank of Pakistan, Citibank n a, habit bank, and hanvit bank. Some branches of both nationalized and private commercial banks have been permitted to conduct foreign exchange business under the Foreign Exchange Regulation Act 1947. Such banks are called authorized dealers and their club or association bears the name RAPED A Bangladesh Foreign Exchange Dealers Association. Apart from the authorized dealers, more than 400 Money Changers throughout the country are engaged in buying r and selling of foreign exchange. These banks follow up government rules and regulation. 2.11 OTHER BANKS INFORMATION: The birth of Pakistan in 1947, the State Bank of Pakistan, the central bank of the Country, came into being in 1948. Later, the National Bank of Pakistan, a commercial bank was set up in 1949. In all, 36 scheduled commercial banks were in operation throughout Pakistan. Pakistanis owned most of these banks. Only three of them, namely, National Bank of Pakistan, Habib Bank, and the Australasia Bank had a branch in East Pakistan in 1949. During 1950-58, three other Pakistani-owned banks, the Premier Bank, Bank of Bawalpur and Muslim Commercial Bank had opened branch offices in East Pakistan. Four Pakistani-

owned banks, the United Bank, Union Bank, Standard Bank and Commerce Bank conducted business in the province during 1959 - 1965. The province had only two banks owned by local business groups and with headquarters at Dhaka, the Eastern Mercantile Bank (now pubali bank) and Eastern Banking Corporation (now uttara bank), established in 1959 and 1965 respectively. The banking system in the territory of Bangladesh grew slowly during the British and Pakistan periods. There were only 25 bank branches in 1901 and the number grew to 668 'n 1946. Creation of Pakistan was a deterrent in the sector as was evidenced by the closure of bank branches, which came down to 148 in 1950. In 1965, the number rose again to 545 Subsequent years, however, showed dramatic changes in the situation and the number of bank branches increased to 1,025 in 1970. The banking system in Bangladesh started functioning with 1,130 branches of 12 banks inherited from Pakistan. Subsequently, these banks were Nationalized and renamed after being merged into six banks. The new names of the banks were the Sonali bank (The National Bank of Pakistan, The Bank of Bawalpur, The Premier Bank), Agrani bank (Habib Bank, Commerce Bank), Janata bank (United Bank, Union Bank), Rupali bank (Muslim Commercial Bank, Standard Bank), Pubali bank (Australasia Bank, Eastern Mercantile Bank) and Uttara bank (Eastern Banking Corporation). 2.12 B A N G L A D E S H R E S E A R C H Swinging Banking: Not Very Promising Not too bad if you may claim so â&#x20AC;Ś. The Bangladesh banking sector relative to the size of its economy is comparatively larger than many economies of similar level of development and per capita income. The total size of the sector at 26.54% of GDP dominates the financial system, which is proportionately large for a country with a per capita income of only about US$370.The non-bank financial sector, including capital market institutions is only 3.22% of GDP, which is much Than the banking sector. The market capitalization of the Dhaka Stock Exchange was US$1,025 million or 2.19% of GDP as at mid-June 2002. In contrast, the size of the total financial sector in India, including banks and non-banks as well as the capital market is 150% (March 2002) of its GDP, with commercial banks accounting for 58.3% of GDP. I access to banking services for the population has improved during the last three decades. While population per branch was 57,700 in 1972, it was 19,800 in 1991. In 2001 it again rose to 21,300, due to winding up of a number of branches and growth in population. Compared to Indiaâ&#x20AC;&#x2122;s 15,000 persons per

branch in 2000, Bangladesh is not far behind in this regard. This indicates that access to the banking system in the country is not a significant problem. However the story tells a different tale The finance sector remains predominantly bank-based, accounting for 96% of the sector’s resources. While there are sound banks, based on IAS, the banking sub-sector as a whole is technically insolvent. Consolidated data reported tend to have significantly understated provisions. Adjusting partly for the understatements, the financials of the banking sub-sector are characterized by about 32% NPL ratio, US$720 million shortfall in provisions, US$1,106 million shortfall in provisions and capital combined, and losses of US$685 million after adjusting for the shortfall in provisions in mid 2001. The adjustments would possibly be larger if provisioning as followed by major international auditors were applied. State-owned Commercial Banks (SCBs) also have disproportionately large and unexplained “Other Assets” that include, in particular, jute and other subsidized credits, suspense accounts and various receivables. To what extent these questionable assets have been provisioned remains unclear. Wonder why so? The large capital deficiency, operating inefficiencies and recurring losses of the banking system is the product of a combination of different factors including: a) weak corporate governance (bank-wide structures, policies, systems and procedures, especially credit risk management); b) deficient executive and staff banking skills; c) absence of professionalism, accountability and incentives; d) policy lending (particularly to jute and other loss-making State-owned Enterprises or SoEs); e) political patronage and directed lending in the SCBs; f) insider lending in private local banks; g) pervasive systemic default culture; h) non-cost recovery for governmental services extended; i) loss-making branches; j) unproductive assets; k) politically-influenced recruitment, extraordinary staff redundancy, bank-wide security of tenure, and disruptive union activity; and l) poor IT/MIS that hinders efficient and costeffective operations. Who is who ….. At mid-2001, the US$13 billion stock of financial market instruments was predominantly tilted toward banking products (72.2%), basically in the form of term deposits, and secondarily toward non-bank debt instruments (27.8%), with private sector obligations

accounting for 0.4% of all non-bank debt instruments and GOB-related instruments making up for the balance of 99.6%. Of the GOB-related instruments, Savings Schemes, redeemable instruments with disproportionately high yields, accounted for 59.3%, the balance made up of T-Bills (26.7%) and Treasury Bonds (13.9%). Private sector instruments are basically debenture-type issues mainly of one business group listed in the stock exchanges. With the exception of T-Bills and private sector debentures, the fixed income securities are nontransferable and, where they are transferable, there is no secondary market activity. There are no government securities dealers or market makers and the â&#x20AC;&#x2DC;buy-holdâ&#x20AC;&#x2122; culture is quite pronounced. The commercial banks have not issued any securities to raise funds, other than for government-administered programs Pot belly or belly up already? The ratio of bank deposits to GDP in Bangladesh has increased from 19.53% in 1990 to 32.35% at end 2001. As the private sector banks are still in a rudimentary stage, they are way behind the SCBs in terms of deposit mobilization and asset accumulation. But classified loans of SCBs are large, constituting 3.94% of GDP in 1990 and 8.66% in 2001. In 1990, the SCBs had 27.59% of their total outstanding loans classified, compared to 23.73% in private commercial banks and 20.65% in foreign commercial banks. The NPL ratio reached 44.62% in the SCBs and 25.76% in private banks, but in foreign commercial banks, it came down to 3.74% in 2001. The banks achieved some success in reducing the percentage of nonperforming assets by 3.31% of cumulative total loans, although in absolute figures it aggravated by 3.32% between 2000 and 2001. NPLs came down from 34.92% (of total loans and advances) in 2000 to 31.61% in 2001. About 86.60% or Tk204.35 billion in the total classified loans of Tk235.99 billion in 2001 have been identified as bad or irrecoverable. Classified loans during the 1997-1999 were 33.49%, 40.65%, and 41.11% respectively. Most of the banks were running with a deficit on loan provisioning as well as risk-weighted capital adequacy requirement. Spreads trimmed but bottom-line upâ&#x20AC;Ś. The interest spreads available to scheduled commercial banks in Bangladesh are actually not so high as being perceived, compared to both developed and developing countries. Interest spread came down recently mainly because they have to offer considerably higher rates on deposits to compete with various high yield savings instruments of the Government-run schemes as well as to compensate for the huge burden of NPLs. Despite a decline by 0.11%

in the average lending rate recently, the average yield on loans and advances increased significantly, mainly due to time factor in incidence of the rates. Average deposit interest rate decreased by 0.18%. Actual yield on loans and advances for the sector came down much below the lending rate due to a huge component of non-performing advances. The performance of the banks during year 2001 was relatively better than the previous year. During 2001, the commercial banks registered a 14.12% growth in loans and advances, and reported increasing operating profits. Most of the listed commercial banks declared higher dividends for the year 2001 than for 2000 and some announced stock dividends. However, the banks are acutely undercapitalized, which enabled declaration of high percentage of dividends, though in the long run such trend could prove unproductive if not fatal. Cost of inefficiency … who is paying? The operational cost (i.e. general and administrative cost) in the banking system is a staggering 3.13% of net assets against an international norm of 1%. In neighboring India it is 2.5%, also on the higher side. The substantial excess cost therefore stands at 2.13% of net banking assets, which translates to 0.56% of the current GDP. On the other hand, the recapitalization needed to meet the statutory capital adequacy requirement is 3.20% of GDP. The annual cost of servicing the recapitalization at 10 percent interest per annum therefore stands at 0.32% of current GDP. The total of the two cost indicators indicates that the annual cost of inefficiency of the banking sector in Bangladesh is 0.88% of current GDP. Again, there are reasons to believe that the recapitalization needs are grossly understated, especially in provisioning against loans and advances to the SoEs and sector corporations. Based on other studies, the recapitalization requirement can be estimated at around US$2.89 billion and the annual cost of financing placed at 0.62% of GDP. Using these figures, the total annual cost of the banking sector inefficiency would stand at 1.18% of GDP. The recapitalization requirement of the development financial institutions (DFIs) and specialized banks are also large, and the cost of financing would be roughly around an additional US$1.165 billion or 0.24% of GDP. Thus, the aggregate cost of refinancing for banks and DFIs and specialized banks through issuance of bonds with 10% coupon would be as high as 1.42% of GDP. In comparison, such refinancing cost in India is roughly at 0.75% of GDP. The road map ahead……… The Bangladesh economy registered noteworthy developments and growth in some major areas including the social sector and achieved relative fiscal stability in the decade of the

1990s. However, the vulnerability of the apparent stability has been exposed in the aftermath of the September terror and changing environmental uncertainties. The authorities now have limited room for maneuver in responding to external shocks. Substantive unresolved or unattended issues remain which could pose a threat to macroeconomic stability. There is a strong need to introduce a legislative program that would enable the regulatory authorities to take timely measures to ensure soundness and efficiency of the banking system, strengthen credit discipline among borrowers as well as speed up the recovery process. The resolution of issues relating to the banking sector could strengthen macroeconomic stability, while enhancing growth and depth, governance, efficiency, private sector presence, and an enabling environment. Conceptually, and potentially by any measure, the Banking Reform and Development (BRD) should be the centerpiece for any program for the finance sector, with other supporting projects having varying degrees of impact. A holistic strategic framework for the finance sector could include potential response initiatives that address targeted performance metrics and strategic results relating to growth and development, governance, sustainability, efficiency, reach, governmental presence and the enabling environment. Some time-bound quantitative indicators and targets could be considered for the banking sector. Few such targets and indicators could be: 1) Review of all financial sector and specifically banking related laws, rules and regulations within 1 year; 2) Enactment of foreclosure law within 1 year; 3) Provision shortfall and re-capitalization requirement of SCBs met through market priced bonds within the next 2 years; 4) Transformation and divestment of the BASIC Bank within the next 2 years; 5) Adoption of all IAS and ISA standards by the Institute of Chartered Accountants of Bangladesh within 2 years; 6) Establishment of an AMC to take over bad debts of commercial banks within 3 years; 7) Only one commercial bank under state ownership at the end of 5 year; 8) No fully state-owned commercial bank after 10 years etc. 2.13 HELPING BANGLADESH BANKING SECTOR TO GROW IT FULL POTENTIAL:

A Government initiative for a strong and effective regulatory and supervisory system for Bangladeshâ&#x20AC;&#x2122;s banking sector is moving ahead. The World Bank is supporting the Central Bank Strengthening Project (CBSP) to enable Bangladesh Bank to play its role as countryâ&#x20AC;&#x2122;s monetary authority, bank regulator and supervisor. Under CBSP, the World Bank is assisting Bangladesh Bank in three areas: (I) Strengthening the Legal Framework; (II) Reorganizing and Modernizing Bangladesh Bank by focusing on (a) Functional Reorganization, (b) Automation, and (c) Human Resources Development; and (III) Capacity Building of Bangladesh Bank focusing on (a) Strengthening the Research Department, (b) Strengthening Prudential Regulations and Bank Supervision, and (c) Strengthening Accounting and Auditing systems. This project started in 2003 with a World Bank commitment of US$ 37 million, out of a total cost of US$46.13 million. Under this project, a merit based promotion policy has been adopted recently, while international central banking accounting and auditing standards have been introduced. It also strengthened regulations and supervisions by revising regulations on corporate governance, accounting policy, capital adequacy, loan classification and provisioning and foreign exchange and interest rate risk, among others. Progress on the human resources reforms has been gradual. The most significant progress is the implementation of the Performance Management System (PMS). A proposal of defining Bangladesh Bankâ&#x20AC;&#x2122;s salary and compensation package from the Civil Services is now under active consideration of the government. The Government is also speeding-up the implementation of Bangladesh Bank automation, and procurement of IT systems, the largest component of the project. Under a separate arrangement, the World Bank Institute has also helped Bangladesh Bank in setting up a Policy Analysis Unit to spearhead research on all aspects of macroeconomics including monetary policy and central banking.

Chapter- Three Introduction of the Prime Bank Limited Bank is a financial institution. The economy is mostly depended on the bank since the bank facilitates the economic and financial transactions. Prime bank limited is a fast growing private sector bank and the bank is already at the top slot in terms of quality services to the customers and value addition for the shareholders. The bank made satisfactory progress in all areas of business operation in 2006. Prime Bank Ltd. is one of the few banks permitted by the Bangladesh in the early 90â&#x20AC;&#x2122;s. These banks are known as the second-generation banks and fortunate to remain immune from the bad loan culture. Prime Bank Limited was designed to provide commercial and investment banking services to all types of customer ranging from small entrepreneur to big business firms. Besides investment in trade and commerce, the bank participates in the socioeconomic development through the participation in priority sectors like agriculture, industry, housing and self-employment. Prime Bank Limited wants to establish, maintain, and conduct all types of banking, investments and businesses in Bangladesh and abroad with superior service quality and performance. The bank has consistently turned over good returns on Assets and Capital. During the year 2005, the bank has posted an operating profit of Tk.1520.34 million and its capital funds stood at Tk.3177.32 million. Out of this, Tk.1400 million consists of paid up capital by shareholders and Tk.1777.32 million represents reserves and retained earnings. The bankâ&#x20AC;&#x2122;s current capital adequacy ratio of 9.96% is in the market. In spite of complex business environment and default culture, quantum of classified loan in the bank is very insignificant and stood at less than 0.96%. Presently the bank has 41 branches all over the Bangladesh and a booth located at Dhaka Club, Dhaka. Out of the above 41 branches, 05 (Five) branches are designated as Islamic Branch complying with the rules of Islamic Shariah, the modus operandi of which is substantially different from other branches run on commercial conventional basis.

3.1 The Policy, Vision, Mission, Goals & Objectives of Prime Bank Ltd: Policy:

A bank with a difference

Vision:

To be the best Private commercial Bank in Bangladesh in terms of efficiency,

capital adequacy, asset quality, sound management and profitability having strong liquidity. Mission:

To build Prime Bank Limited into an efficient, market driven, customer

focused institution with good corporate governance structure. Continuous improvement in our business policies, procedures and efficiency through integration of technology at all levels.

Goals and Objectives: Maximization of Profit through customer satisfaction is the main objective of the Bank. In addition, the others relevant objectives are: 

To be market leader in high quality banking products and services.



Active excellence in customer service through providing the most modern and

advance technology in the different spheres of banking. 

To participate in the industrial development of the country to encourage the new and

educated young entrepreneurs to under take productive venture and demonstrate their creativity and there by participate in the national development. 

To provide credit facilities to the small and medium size entrepreneur located in urban

& sub-Urban area and easily accessible by our branches. 

To develop saving attitude and making acquaintance with modern banking facilities.



To inspire for undertaking small projects for creation employment through income

generating activities. 

To play a significant role in the economic development of the country.

3.2 CORPORATE INFORMATION IN BRIEF

Memorandum and Articles of Association signed by the Sponsors

5-Feb-1995

Incorporation of the Company

12-Feb-95

Certificate of Commencement of Business

12-Feb-95

License issued by Bangladesh bank

20-Feb-95

License issued for opening the first branch, Motijheel Branch

8-Apr-95

Formal launching of the Bank

17-Apr-95

Initial Public Offering (IPO): - Publication of Prospectus

29-Aug-99

- Subscription Opened

9-Sep-99

- Subscription Closed

22-Sep-99

Listed with Dhaka Stock Exchange Ltd

27-Mar-00

Listed with Chittagong Stock Exchange Ltd

15-Nov-00

Dividend declared in the 5th AGM (First after the IPO)

3-Mar-00

Registered as Merchant Banker with Securities & Exchange Commission

29-Mar-01

License issued from Bangladesh Bank as Primary Dealer

11-Dec-03

Registered as Depository Participant of CDBL

29-Mar-04

Trading of Shares started in Demat from in Stock Exchanges

15-Jun-04

Agreement with Temenos for Core Banking Software T24

30-Jun-05

3.3 ORGANOGRAM OF PRIME BANK LIMITED

Board of Directors

Executive Committee of the Board

Policy Board Managing Director (MD) Committee Secretariat of the Board

Board Audit Cell

Deputy Managing Director (DMD)

Managing

Senior Executive DirectorVice President (SEVP)

Senior Executive Vice President

Executive Vice President (EVP)

D.M.D

Corporate Affairs Division

Research & Development

Senior Vice President (SVP)

H.R.D Marketing Division Investment Division International Division Treasury Unit

Vice President (VP)

F.A.D

Senior Assistant Vice President (SAVP)

Credit Committe e

GeneralVice President (AVP) Assistant Service Division

First Assistant Vice President (FAVP)

Monitoring & Senior Executive Officer (SEO) Inspection Division Executive Officer (EO)

Public Relation Division

Computer Division 3.4 HIERARCHY OF PRIME BANK Principal Officer (PO)LIMITED Senior Officer (SO)

Management Trainee Officer (MTO)

Junior Officer (JO)

3.5 A BRIEF DESCRIPTION OF BUSINESS ACTIVITIES, PRODUCT & SERVICES AND FINANCIAL POSITION OF PRIME BANK LIMITED: 3.5.1 Business Activities of PBL: The Principal activities of the bank were banking and related businesses. The banking businesses included deposits taking, extending credit to corporate organization, retail and small & medium enterprises, trade financing, project financing, international credit card etc.

Prime Bank Limited provides a full range of products and services to its customers, some of which are mentioned below with a brief overview of the major business activities. Retail Banking: As a part of risk diversification strategy PBL expended the lending activities in this sector during 2005. The growth rate of PBL’s consumer financing was 45.43% during this year. The loan schemes offered by the bank include Home Loan, Loan against Salary, Marriage Loan, Car Loan, Hospitalization Loan, Education Loan, Doctors Loan, Travel Loan etc. SME Lending: Job creation is essential and it must come from Small and Medium Enterprise that will ultimately dominate the private sector. During 2005 bank’s Strategy was focused on customer convenience. The Bank provided working capital loans to suppliers or dealers of large corporations or clusters of small exporters of non-traditional items. The exposure is well diversified among over 500 customers in manufacturing; trading and service sector like Light Engineering and manufacturing, Cottage and power loom industries, CNG, Paper and pulp etc. The outstanding loan against SME is 343 million. Corporate Credit: PBL’s strategy is to provide comprehensive service to the clients of this segment who are large and medium size corporate customers with expertise in trade finance and related services. Besides trade finance bank are providing working capital finance, project finance and arranging syndication for our corporate clients. Syndication and structured Finance Unit of the Bank strengthened its footstep in the consortium financial market and arranged a number of syndication deals for its corporate clients. Islamic Banking: For the development of Islamic Banking Business, 2005 was also a commendable year. It has been observed that compliance of Shariah has improved in 2005 as compared to the preceding years. According to their advice Islamic Banking operation of the bank has been separated from the operation of Conventional Banking and shown separately in the bank’s financial statement. It is found that the investment and deposits grew by 82.07% and 11.59% respectively in the year 2005.

Credit Card: In the year of 2005, Prime Bank Ltd has launched VISA. Before that PBL started its credit card operation in 1999 by introducing Master Card. Now PBL has become the first local Bank of the country to achieve principal membership of both the worldwide-accepted plastic money network i.e. Master Card and VISA. PBL has redesigned the credit card facility by providing the incentive of “Free Life Insurance Coverage” for their valued cardholders to mitigate the financial risk. Custodial Service PBL equator fulfills its strategic commitment to provide custody and clearing services. Equator’s focuses are on the following: 

Commitment to quality



Dedication to customer needs



Sustained investment in people and systems

3.5.2 International Trade Management: This division is operational throughout the group and PBL’s core strength is trade finance and services. With an experience, Prime Bank has developed knowledge of trade finance, which is world class. Principle services to importers include imports letter of credit, import bills for collection and back-to-back letters of credit facilities. Services provide to exporters include export letters of credit, direct export bills, bonds, and guarantees. Cash Management Prime Bank recognizes the importance of cash management to corporate and financial institutional customers, and offers a comprehensive range of services and liquidity management. Institutional Banking Prime Bank Limited provides a wide range of services to institutional clients, commercial, merchant and central banks; brokers and dealers; insurance companies; funds and managers, and others. It provides relationship managers who are close to their customers and speak local

language. This wide network of institutional banking facilities includes transaction, introduction, problem solving and renders advice and guidelines on local trading condition. Treasury Treasury operations had been consideration as an important avenue for income generation purpose within Head Office. In fact, in the past, income from treasury operation was quite sizable and significant to the total income generated by the bank. The treasury division publishes daily and weekly currency newsletters, which provide analyses of currency trends and related issues. Seminars and workshops are conducted for customers from time to time on foreign exchange related topics. Prime Bank is one of the first local banks in Bangladesh to integrate treasury dealings of local money market and foreign currency under one Treasury umbrella. The bank has handled significant volumes of treasury over the last several years. Prime Bank's Dealing Room is connected with automated Reuters Terminal facility thus enabling the bank to provide forward/future facilities to its corporate clients at a very competitive rate. In 2004, the treasury operation recorded an income of Tk 180.12 million excluding money market income of Tk 72.25 million. Foreign Exchange Business Over the years, foreign trade operations of the bank played a pivotal role in the overall business development of the bank. The bank has established relationship with as many as 110 new foreign correspondents abroad thereby raising the total number of correspondents to 350. The total import & export business handled by the bank during the year 2005 was TK 40,303 million and Tk 28,882 million. The growth rate was 46%. The bank has also entered into remittance arrangements with several banks and exchange houses and expects to handle increased volume of remittance business over the near future. Merchant Banking: The Bankâ&#x20AC;&#x2122;s operation in this sector was limited to Underwriting, Portfolio Management and Banker to the Issue functions. The compulsory requirement for opening BO account for share trading has increased the demand for opening BO account. SWIFT Prime Bank Limited is one of the first few Bangladeshi banks, which have become member of SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) in 1999. SWIFT is a member-owned co-operative, which provides a fast and accurate communication network for

financial transactions such as Letters of Credit, Fund Transfer etc. By becoming a member of SWIFT, the bank has opened up possibilities for uninterrupted connectivity with over 5,700 user institutions in 150 countries around the world. Information Technology in Banking Operation Prime Bank Limited adopted automation in banking operation from the first day of its operation. The main objective of this automation is to provide efficient and prompt services to the bank's clients. At present, all the branches of the bank are computerized. At branch level, the bank is using server-based multi-user software under UNIX operating system to provide best security of automation. Profitability and Shareholder Satisfaction The bank had been one of the most profitable in the banking sector. The bank's return on assets (ROA) crossed 3.75 percent in the year 2004. Even though the capital market of the country has been suffering over the last few years, the good performance of Prime Bank made sure that the banks share price remained in a respectable position.

3.5.3 Products and Services of Prime Bank Limited: Prime Bank Limited offers various kinds of deposit products and loan schemes. The bank also has highly qualified professional staff members who have the capability to manage and meet all the requirements of the bank. Every account is assigned to an account manager who personally takes care of it and is available for discussion and inquiries, whether one writes, telephones or calls. Deposit Products 

Monthly Contributory Savings Schemes(CSS)



Monthly Benefit Deposit Receipt(MBDR)



Special Deposit Receipt Scheme(SDR)



Education Savings Scheme(ESS)



Fixed Deposit Receipt Scheme(FDR)



Current Account



Savings account



Short Term Deposit

Loan Schemes: 

General Loan Scheme



Consumer Credit Scheme



Lease Finance



House Building Loan & Apartment Loan Scheme



Advance against Shares



Custodial Services for investors (both individual & institutional) investing in through Stock exchange



One stop services for payment of utility bills.



Credit card

3.5.4Financial Position of Prime Bank Limited: Investment: The Bank’s investment increased during the year by Tk.856 million and stood at 31 December 2005. Loan & Advances and Deposits: Loans and Advances of the Bank grew strongly by 37.45% to 31,916 million in 2005. Bills purchased and discounted increased by 51.19% indicating strong growth in export performance. The Bank’s deposits and the Customer deposits of the Bank grew by 28% 33% respectively in 2005. However, fixed deposits remained the main component of deposits contributing about 52% of total deposits.

2005

Year

2004 2003 2002 2001 0

5000

10000

15000

20000

25000

30000

35000

2001

2002

2003

2004

2005

loans & Advance

9074

12686

16492

23219

31916

Deposits

13259

16481

20483

28069

36022

Deposits

40000

loans & Advance

Liabilities: Total liabilities of the Bank are increased by 9,145 million during 2005. Shareholders Fund: The Shareholderâ&#x20AC;&#x2122;s Fund is increased by 25.36% due to 100% retention policy of the Bank. Paid-up capital increased by Tk.400 million and stood at Tk.1400 million during 2005. Non-interest & Investment Income: Non-interest & Investment Income are increased by 29.77% & 32.65% respectively in year 2005. Net Profit before & After Tax: Net Profit before Tax stood at Tk.1200 million and Net Profit after Tax had become 568 million. Thus the growth rate of the Net Profit before Tax was 12.78% then that of previous year. In case of Net profit after Tax it was negative growth of 7% during 2005.

The financial position for the last three years of Prime Bank Limited At a Glance (Taka in million): Particulars

2006

2007

2008

Total Deposits

16481.6

20483.2

28069.2

Loans and Advances

12686.9

16492.2

23219.7

Investment

1996.23

2749.71

3083.81

Foreign Exchange Business

31753.7

41930.8

56248.8

Operating Income

1196.2

1593.69

1970.37

Operating Expenditure

448.36

592.28

824.23

Operating Profit

747.84

1001.41

1146.14

Total Assets

19358.9

24249.1

32361.6

Market value per share

307.51

374.25

879.5

No of Branches

No of Employees

730

777

894

No of Shareholders

1727

1993

2620

No of Foreign Correspondences

422

441

501

3.6 ONLINE BRANCH BANKING The Bank has set up a Wide Area Network (WAN) across the country to provide online branch banking facility to its valued clients. Under the Scheme, clients of any branch shall be able to do banking transaction at other branches of the bank. Under this system a client will to be able to do following type of transactions: 01.

Cash withdrawal from his/her account at any branch of the Bank irrespective of location.

02.

Cash deposit in his/her account at any branch of the Bank irrespective of location.

03.

Cash deposit in other's account at any branch of the Bank irrespective of location.

04.

Transfer of money from his/her account with any branch of the Bank.

Any amount can be deposited or transferred under Prime Line. In the system, however, at present there is a limit for cash withdrawal through bearer or by account holder himself.

3.6.1 Terms & Conditions of Online Branch Banking Service: ONLINE BRANCH BANKING SERVICE is designed to serve its valued clients. Under this system, you shall be able to do the following type of transactions: 01.

Cash withdrawal from your account at any branch of the Bank.

02.

Deposit in your account at any Branch of the Bank.

03.

Transfer of money from your account to any other account with any Branch of the Bank.

3.6.2 Transaction Limit: 01.

Maximum ceiling of cash withdrawal by self is Tk. 10, 00,000/- (ten lac) only per

transaction. 02.

Maximum ceiling of cash withdrawal by third party (bearer) per transaction is below

Tk............... Only (please mention the limit you wand to place). 03.

Cash deposit/transfer by online transaction is unlimited.

3.6.3 Online Transaction Membership Fee: Membership fee of Tk. 50/- per month for the Online Branch Banking Service. 3.6.4 Charges for Online Transaction: 01. 02.

There will be no charge for transaction within the city where the account is domiciled. Fee Tk. 50/- will be realized from the customer's account for each remote transaction

(inter-city) for amount upto Tk. 1,00,000 (one lac). 03

Fee at the rate of 0.075% will be realized from the customer's account for each remote

transaction of amount more than Tk. 1,00,000 (one lac). 3.7 EXCLUSION AND EXCEPTIONS Prime Bank Limited shall not be responsible or liable to any online account holders for any loss or damage incurred or suffered as a consequence of: 01. Any malfunction, defect or error in any computer, or other machine or online system of login belonging to or operated by Prime Bank Limited or otherwise; or 02. Any delay or inability of Prime Bank Limited to perform any of its obligations pursuant to this Agreement because of nay mechanical, data processing or telecommunication failure, Act of God, civil disturbance or any event outside of Prime Bank Limited control or as a consequence of any fraud or forgery; or 03.

Any undesired fraud and forgery by means of computer hacking or any means that

causes for any burden to the account holder.

3.8 CONCLUSIVENESS OF DOCUMENTS AND CERTIFICATES 01. Prime Bank Limited shall be entitled to rely upon and to treat any document relating to any online transaction with the signature of the account holder as conclusive evidence of the Online Transaction as therein stated or recorded was authorized and properly made or effected by the online account holder. 02. The Bank will send monthly statement to online account holders. Any error or inaccuracy in any online account statement shall be notified in writing to Prime Bank Limited within 7 days from the date of issue of the statement. 3.9 SET OFF AND CONSOLIDATION Prime Bank Limited may at any time and without prior notice or demand combine or consolidate any and all accounts maintained by an online account holder with Prime Bank Limited and or set off or transfer any sum outstanding to the credit in any or all such accounts in or towards the discharge or payment or any or all sums due to Prime

Bank Limited from

the online account holder on any online account or under this agreement and the right herein conferred shall be exercisable notwithstanding that the use of the online account is not terminated. 3.10AMENDMENTS Prime Bank Limited may at any time amend any of these terms and conditions by giving notice to the clients and such amendment (s) shall take effect on the date specified in such notice. 3.11 TERMINATION OF THE CONTRACT FOR AVAILING ONLINE BANKING FACILITY The contract may be terminated by either side giving 30 days prior notice. So these are the information of PRIME BANK LTD.

Chapter-Four Overview of Human Resource Management

HRM is the part of the organization that is concerned with the people dimension. HRM deals with human relations of an organization starting from recruitment to labor relation. It is concerned with the people dimension of management. It is a proces of acquisition, development, motivation and maintenance of human resources of an organization. HRM is a part of General Management that deals with the human aspect. According to M. J. Jucious: “The field of HRM involves Planning, Organization, Directing and Controlling functions of procuring, developing, maintaining and utilizing a labor force.’’ According to Dale Yoder: “HRM is the provision of leadership and direction of people in their working or employment relationship.’’ According to Mathis and Jackson: “HRM is the effective use of human resources in and organization through the management of people related activities.’’ Every organization is comprised of people Acquiring their services, developing their skills, motivating them to high levels of performance and ensuring that they continue to maintain their commitment to the organization are essential to achieving organization objectives. This is true regardless of the type of organization Government, business, education, helalth, recreation or social action. Getting and keeping good people is critical to the success of every organization. 4.1 OBJECTIVE OF THE HUMAN RESOURCE MANAGEMENT With the fulfillments of the following objectives HRM can become successful: 1). To develop efficiency and skills of employees: First objective of HRM is to develop efficiency and skills of employees working in the organization. If these objectives are achieved organization can reach at its target.

2). To ensure effective performance of employees: Effective performance of employees can be ensured by HRM. Effective: performance of all levels can help the organization to obtain productivity target. 3). To change behavior of employees: With a view to change behavior of employees HRM activities can be performed. Behavior change can ensure to reduce resistance to change. 4). To train up subordinates: The forth objective of HRM is to train up subordinates for effective performance. There may be different methods of training employees. 5). To increase job satisfaction: Job satisfaction is essential for proper performance and goods LMR; therefore HRM tries to achieve job satisfaction level. 6). To attract good people: Without attracting good people organization cannot run smoothly or organization can't cope with the organization. Therefore HRM wants to attract good people for the organization. 7). To make effectiveness: To make all organization programs an effective. HRM acts restless. And for thus all policies are formulated accurately. 8). With a view to procure good people: HRM determines its objectives. Because it knows that without good people organization cannot run. 9). For proper use of Human Resources: The organization can best try to give them proper assignment and make sure that everything has been done timely. 10). Co-ordination among different sections of the organization: Co-ordination among different sections of the organization, HRM can set it objective and get objective fulfilled. 11). To develop working conditions in the organization: Another objective of HRM is developing working conditions of the organization, because without this performance quality and target cannot be achieved. 4.2 FUNCTIONS OF HUMAN RESOURCE MANAGEMENT:

Human resource function refers to those tasks and duties performed in both large and small organization to provide for and co-ordinate human resources. Human resource functions are concerned with a variety of activities that significantly influence all areas of an organization and include followings: The Four Basic Functions of HRM are: 1). Acquisition of human resources: There are two steps involved in acquisition process. They are a) Selection of people and b) Recruitment of people. a) Selection of people: For selection of people the HR manager should first plan the job requirement of the organization, than select the individuals who possess specific skills, Knowledge and abilities that are directly linked to specific jobs required in the organization. b) Recruitment of people: After the process of selection the efficient, dynamic, skilled, experienced and committed people are recruited in the specific job. 2). Development of human resources: After selecting and recruiting individuals in the right position of the organization the next function is to train and develop them, so that they can become efficient employees and work toward the achievement of the organization goal. 3). Motivation of human resources: The motivation function is one of the most important functions. After training and developing the employees the HR manager should stimulate them to work well. For motivation purpose the HR manager have to give the employees some compensation and benefit package. 4). Maintenance of human resources: The last phase of the HRM function is called the Maintenance function. For maintaining the people HRM should go for some method of developing the career of the employee. For maintaining purpose we have to give them T. U, Conciliation, power. Proper utilization of HR is very important. Several other functions are performed by HRM These-functions are categorized into 20 classes which is stated below: 1). Formulation of HR policies: HR manager should plan appropriate human resource policy in the organization and try to formulate it.

2). Procurement and selection of efficient employees: To operate the organization with effectiveness; have to be select adept employees. Awkward employee should not be selected for achieve the target of the organization. 3). Guidance and placement: After recruiting efficient employees the third step is to give them proper guidance and place them correctly. 4). Training and development: After recruiting and placing the employees in the right place the next step is to train and develop the human resources collected recently. There are different method of training and development. Training and development means changing what employees know, how they work, their attitudes toward their work or their interaction with their co-workers or supervisors. 5). Promotion and transfer: For motivating the employees, company have to be promote their in different way like as give to be festival bonus, award with best performances, have to be trained, ensured their job security etc. 6). Job analysis: Job analysis is a systematic exploration of the activities within a job. It is a technical procedure used to define the duties, responsibilities and accountabilities of a job. This analysis involves the identification find description of what is happening in the job. 7). Maintenance of working environment: Maintenance of working environment is a must fir every organization. Maintaining a healthy work environment not only a proper thing to do but it also benefits the employer, like increase in productivity, increase positive attitude towards their organization. 8). Protection of employees: Employees should be well protected. Without safety measure the human resources of the organization will not perform properly. Although safety is everyone's responsibility, it should be part of the organizations culture; top management must show its commitments to safely by providing resources to purchase safety devices and maintaining equipment.

9). Remuneration: Workers come to work in the organization for getting remuneration. Without remuneration human resources cannot work. The human resources should be given provided reasonable remuneration to work properly. 10). Employee services: As a HRM manager, he must ensure employee services. They will be given service packages to work properly. 11). Job and merit evaluation: Without job evaluation efficiency cannot be judged. 12). Labor management relation: There is a need for good and harmonious employeremployee relation. Historical!}, the relationship between labor and management was built on conflict. There are various reasons for bad human relations and number of ways to increase it. We should try to decrease the bad human relation and increase good human relation. 13).Workers participation: Present age is democratic. Workers participation is an essential condition for taking decision and formulating rules and regulations, because workers are only the source of energy for implementing organizational policies, operating machines and equipment and achieve organizational goal. 14). Agreement with trade unions: Trade Union is very powerful in (he industrial context. Without satisfying the T. U. leaders the HR managers cannot run the organization properly. That is why acceptable agreement with the trade union leaders is needed. 15). Leadership and co-operation: Without good leader an organization cannot run properly. It should be guided for ensuring co-operation. Without co-operation a leader cannot proper utilize the resource easily. 16). Providing benefits and swards: For getting co-operation from the human resources the HR managers should provide them benefit packages and benefits. 17). Maintaining discipline: Discipline is essential for and organization to work properly. HRM manager should take proper disciplinary action indiscriminately when indiscipline arises. Insure discipline and protect indiscipline.

18). Career planning and development: HR manager should try lo plan for the development of career of its H.R's. Career means the pattern of work related experiences than span the course of a personal life. Career development looks at the long-term career effectiveness and success of organizational personnel. 19). Handling grievances: HR managers should handle all source of grievance placed before them fact fully and carefully. Indiscipline and unrest may be corrected. 20). Reviewing employee needs: HR manager must monitor the employee needs time to time and try to satisfy the needs of employees. These are the important function of HRM. There may be other types of classification or other functions in different books. In most of the cases these functions are usually performed. 4.3 CONCEPTS HUMAN RESOURCE PLANNING: An organization is in the process of determining its human resource needs, it is engaged in a process we call human resource planning. Human Resource planning is one of the most important elements in a successful human resource management program, because it is a process by which an organization ensure that it has the right number and kinds of people, at the right place, at the right time, capable of effectively and efficiently completing those tasks that will help the organization achieve its overall strategic objectives. Employment planning, then, ultimately translates the organization's overall goal into the number and types of workers needed to meet those goals. Without clear-cut planning, and a direct linkage to (he organization's strategic direction, estimations of an organization's human resource needs are reduced to-mere guesswork. This means that employment planning cannot exist in isolation. It must be linked to the organization's overall strategy. The starting point in attracting qualified human resources is planning. HR planning, in turn, involves job analysis and forecasting the demand and supply of labor. Job analysis is a systematic analysis of job within an organization. A job analysis is made up of two parts. The job description lists the duties of a job; the jobâ&#x20AC;&#x2122;s working condition; and the tools, materials, and equipment used to perform it. The job specification lists the skills, abilities, and other credentials needed to do the job.

After managers fully understand the jobs to be performed within the organization, they can start planning for the organization’s future human resource needs. The following figure will summarized the steps most often followed. Attracting human resources cannot be left to change if an organization expects to function at peak efficiency. Human resource planning involves assessing trends, forecasting supply and demand of labor, and then developing appropriate strategies for addressing any differences.

Assess trends in • External labor market • Current employees • Future organizational plans • General economic trends Predict demand

Forecasting internal supply

Forecasting external

Compare future demand and internal supply Plan for dealing with predicated shortfalls or overstaffing Human resources planning are defined as the strategy for the acquisition, utilization, improvement and retention of human resources of an organization. Human resource planning is basically the process by which it is determined how an organization should move from its current manpower position to its desired manpower position. So, human resource planning is the process by which an organization ensures that it has a right number and kind of people at

right places at the right time, capable of effectively and efficiently completing the tasks that will help the organization to achieve its overall objective. There is no alternative to skilled and trained manpower in any organization. Having this in mind, the well educated, promising and workers are selected and trained. Bank has given top priority to developing skilled manpower introducing them modern technologies with a view to develop customer services. HR planning is very important to all managers. Any manager does not make any-personal mistakes while planning. For example •

Hire the wrong person for the job:

•

Experience high turnover;

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Find our people not doing their best;

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Waste time with useless interviews;

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Allow a lack of training to undermine our department’s effectiveness;

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Commit any unfair labor practices.

4.4 DEMAND AND SUPPLY ANALYSIS: Demand analysis Organizational chart indicating positions that may become vacant in the near future and fill the vacancy. Demand Analysis- if the organization needs any men power then the organization needs demand analysis to get perfect number and the place where needs the employees. Demand determination for HR •

Current human resources.

•

Future direction of the organization.

•

Analyze significant job levels and types.

•

Identify the accurate shortage in levels and types.

•

Adjust the numbers of firing, retirements etc.

Supply Anlysis-

Prediction of future supply of the man power for the organization is called supply of HR. Supply is two typesInternal supply- Retirement, Dismissal, Transfer out, Layoffs, Voluntary quiet, Sabbaticals, Prolonged illness, Deaths. External supply-Educational institutions, other organization in the same line. On line web site, Job fair, Layoff, liquidation of other company. Matching demand and supply of the employee in the organization, the process is Shortage of man powerHiring, Contracting additional staff, Transfer In case of inadequate availability Change the objective of the organization, Outsourcing. Oversupply of manpower Decruitment: process of severing people from organization.

•

Downsizing

•

Re-engineering

•

Rightsizing

After comparing future demand and internal supply, managers can make plans to manage predicted shortfalls or overstaffing. If a shortfalls is predicted, new employees can be haired, present employees can be retrained and transferred into the understaffed area, individuals approaching retirement can be convinced to stay on. or labor-saving or productivityenhancing systems can be installed. 4.5 JOB ANALYSIS: 4.5.1 Definition of job Analysis: A job analysis is the process used to collect information about the duties, responsibilities, necessary skills, outcomes, and work environment of a particular job. You need as much data as possible to put together a job description, which is the frequent outcome of the job analysis. Additional outcomes include recruiting plans, position postings and advertisements, and performance development planning within your performance management system.

4.5.2The key points of job Analysis: There are three key elements of job analysis: Job analysis is not a single Methodology : It is a generic term which refers to a range of techniques, including observation, interview and questionnaire based analysis. Job analysis is structured : The exploration of the role is guided and focused, although the degree of structure varies with the techniques used. Job analysis is analytical: Depending on the application, job analysis may look at jobs in different ways:Job oriented Procedure: It tend to concentrate such as equipment used and the end result of the job. Worker oriented Procedure: It concentrate on the knowledge & abilities that the job holder can perform the job effectively. Behavior oriented analysis: The specific behaviors that take place in order that the job can be perform effectively.

4.5.3The purpose of job analysis Job analysis has basically six components:Job description:

A written summary of task requirements.

This is the physical and

environmental characteristics of the work to be done. Job specification: A written summary of work requirements such as knowledge, skills, aptitudes, attitudes. Performance Appraisal: Job Analysis can be used in performance review to identify or develop: â&#x20AC;˘ Goals and objectives

• Performance standards • Length of probationary periods • Duties to be evaluated Employee Training: Job Analysis can be used in training needs assessment to identify or develop: • Training content • Assessment tests to measure effectiveness of training • Equipment to be used in delivering the training Job design: • Reduce personnel costs, streamline work processes, • Increase productivity and employee empowerment, • Enhance job satisfaction Job Evaluation: • Judges relative worth of jobs in an organization • Sets fair compensation rates

4.5.4The Methods of job Analysis There are six method of observation. The methods that managers can use to determine knowledge, skills and abilities for successful performance are as follows: Observation: a job analyst watches employees directly or reviews films of workers on the job. Individual Interview Method: in this method meeting with an employee is done to determine what his or her job requires. Group Interview: this method is similar to individual interview method except that a number of employees are interviewed at the same time. Structured Questionnaire: in this method employees are sent a specifically planned questionnaire on which they rate tasks they perform on their job.

Technical Conference: this method utilizes supervisors with wide knowledge of the job. Diary: this method requires the employees to document their daily tasks and activities. No one method is universally superior. Even obtaining job information from the employees can create a problem. The best results can be achieved by combination of these methods.

4.5.5 Job Analysis information Hierarchy Job Analysis information Hierarchy is given below briefly:Elements: A job elements is a smallest unit into which work can be divided. Task: A task is a distinct work activity carried out for a distinct purpose. Duty: A duty is number of task. Position: A position refers to one or more duties performed by one person in an organization. Job: A job is a type of position within the organization. Job family: A job family is a group of two or more similar jobs. Occupation: An occupation is a group of similar jobs formed across organization. Carrier: A carrier represents a sequence of positions, jobs or occupations that a person has over his/her working life.

4.6 THE HR FORECASTING PROCESS 4.6.1 HR Forecasting: It constitutes the heart of the HR planning process, and can be defined as ascertaining the net requirements for personnel by determining the demand for and supply for human resources now and in the future. Forecasting activity can be dividing into three categories. 1. Transaction-based Forecasting: Forecasting that focuses on tracking internal changed instituted by the organizations manager.

2. Event-based Forecasting: Forecasting concerned with changes in the external environment. 3. Process-based Forecasting: Forecasting not focused on specific internal organizational event but on the flow of several work activities.

4.6.2 The benefits of HR forecasting: A few of the more important advantages of HR forecasting are discussed below:1. Reduces HR Cost: Effective HR forecasting focuses on a comparison between the organizations current stock of work force KSAs and the numbers, skill competencies & so on desired in the workforce of the future. This inherent comparison facilities a proactive, sequential approach to developing internal workers and focus on obtaining the best external recruits from competitors, universities, & training programs.

2. Increases Organizational Flexibility: HR forecasting is that its proactive process increases the number of viable policy options available to the organizations, thereby enhancing flexibility. It is predicted on trends, assumptions, scenario & various planning time horizons; the process itself encourages the development of a wide range of possible policy options & program. 3. Ensure A Close Linkage to the Macro Business Forecasting Process: A serious problem develops in some organizations when the personnel planning process becomes divorced & disconnected from the overall business goals of the organization. These analysis & the subsequent feedback of the HR forecast summaries to senior management help to ensure that the top decision-makers in the organization. 4. Ensure That Organizational Requirements Take Precedence Over Issues of Resources Constraints & Scarcity: HR forecasting process will quickly become evident that the first step in the process is the calculation of organizational requirements or demand for human resources. Determining the source of personnel-

supply of workers---is done only once the process of evaluating personnel requirements for current & future time horizons has been finalized.

4.6.3 HR Forecasting Time Horizons: The typical HR forecasting time horizons are as follows:1. Current forecast: Is the one being used to meet the immediate operational needs of the organization. The associated time frame is up to the end of the current operating cycle or maximum of one year into the future. 2. Short-run forecast: It extends forward from the current forecast and states the hr requirements for the next one-to-two year’s period beyond the current operational requirements. 3. Medium-run forecast: Most organizations define the medium run forecast as the one that identifies requirements for two or five years into the future. 4. Long-run forecast--- Due to uncertainty & the significant number & types of changes that can affect the organizations operations, the long run forecast is by necessity extremely flexible & is a statement of probable requirements given a set of current assumption. The typical long run forecast extends five or more years ahead of the current operational period. The outcomes of forecast divided to fore time horizons. Those are:•

Prediction: A single numerical estimate of HR requirements associated with a specific time horizon & set of assumption.

•

Projection: It incorporate several HR estimates based on a verity of assumption. Envelop an analogy in which one can easily visualize the corners of an envelope containing the upper & lower limits or “bounds” of various HR projections extending into the future.

•

Scenario: A proposed sequence of events with its own set of assumptions & associated program details

â&#x20AC;˘

Contingency Plan: This plan to be implemented when severe, unanticipated changes to organizational or environmental factors completely negate the usefulness of the existing HR forecasting prediction or projection.

4.6.4 The key personnel Analysis Conducted by HR Forecasting: HR forecasting personnel analysis categories are discussed below:1. Specialist/ Technical/Professional Personnel: Worker holding trade qualifications that are in high demand or that require lengthily preparatory training for attainment of skills competency constitute a key area of focus for HR forecasting. To supply issues, a longer lead time is often required to recruit technicians & professionals. 2. Employment Equity-Designated Group Membership: In particular, four main designated groups require special attention with respect to their degree of use: (1) People of aboriginal descent, (2) Women, (3) People with disabilities, (4) Members of visible minorities. They received opportunities for employment, promotion, training by the dominant population of the organization. 3. Managerial & executive Personnel: Executives interact with key environmental stockholder groups on behalf of the organization & are responsible for setting the goals for the organizationâ&#x20AC;&#x2122;s future direction. Manager acting as a supervisor, are responsible for coaching, directing, training & developing & controlling worker behaviors to achieve the goals established by executives groups. 4. Recruits: Recruiting trainees is extremely important to the success of the organizations overall HR policies. When determining trainees from the internal workforce or externally, a wide variety of factors must be considered. The relative balance of internal to external personnel to be selected for training courses is a key factor in the HR forecasting.

4.7 HUMAN RESOURCE DEMAND 4.7.1 Human resource requirement determination process: There are three steps in future human resource requirement determination process are mention below briefly:1) Assessing where the organization is going: Demand for demand for demand for human resource is a result of demand for the organizationâ&#x20AC;&#x2122;s products or services. 2) Implementations of future demand: An assessment of the organizationâ&#x20AC;&#x2122;s current se human resources situation has been made & the future direction of the organization in terms of revenue forecasts has been considered. 3) Implementation of future supply: a) Increasing supply: An increase in the supply is combination of three sources: new hires, transfer-in, or individual returning from leaves. b) Decreasing supply--- the internal supply can come out about through retirements, dismissals layoff, death etc. c) Estimated change in external supply--- Recent graduates, labor markets, migration into a community. 4.7.2 Forecasting future manpower requirements There are two techniques used for human being required for a particular period & for a particular plant. Those are:1) Analysis of workload factors. 2) Analysis of work force factor. 1) Analysis of workload factor: It divided into two factors:a) Quantitative Techniques b) Qualitative Techniques a) Quantitative Techniques of forecasting manpower need:

i) Time series analysis--- Employment data over a time period are used under this method as the basis for manpower forecast. It has five elements; 

Trend Analysis: - Study of firms past employment needs over a period of years to predict future needs.



Cyclical effects: - Change in employment in relation to some particular event.



Seasonality: - Seasonal fluctuation occur more than once in a given time period.



Step: - This is a sudden change in employment level due to economic environment.



Random fluctuation: - This is a sudden change in employment level which is random in nature.

ii) Work load analysis:- A forecasting techniques for determining future staff needs by using ratios between work load & number of employee needed.

b) Qualitative Techniques of forecasting manpower need: Delphi Techniques ---Collection of independent opinions without group discussion by the analysts providing the opinions; used for various sorts of evaluations. There are six steps using the Delphi techniques for HR demand forecasting. There are: •

Define & refine the issue or question.

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Identify the experts, terms & time horizon.

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Orientation the experts.

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Issue the first-round questionnaire.

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Issue the second-round questionnaire.

• Continue issuing questionnaires. Nominal Group Technique -- - The Nominal Group Technique (NGT) is a structured method for working toward consensus. Its Strength is that it gives everyone in the team an equal voice in sharing ideas. There are seven steps using the Nominal Group techniques for HR demand forecasting. There are:•

Define & refine the issue or question & relevant time zone.

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Select the experts.

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Issue the HR demand statement to the expert.

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Apply expert knowledge, state assumptions, & prepare an estimate.

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Meet face to face.

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Discuss the demand estimates & assumption.

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Vote secretary to determine the expert demand assessment.

2) Analysis of work force factors: It’s divided intoi)

Absenteeism--- It means keeping out of work when one is scheduled to work.

ii) Labor turnover--- It means the movement in the jobs in an organization during a particular period.

Chapter- Five Overview of E- Recruitment 5.1 DEFINITION OF E-RECRUITMENT E-Recruitment covers a range of Web-based application tools used for the provisioning (typically) of human resources. These applications assist in the recruitment of suitable candidates for vacant positions. Some applications do this by semi-automating the entire recruitment and hiring process. E-recruitment applications (or software packages that are web-enabled) typically enable recruitment teams to create job postings, manage job application responses, schedule interviews and manage other recruitment tasks. This dramatically reduces the labour and money spent on physical recruitment.

5.2 E-RECRUITING BACKGROUND Setting up an e-recruitment solution that is fully integrated into your HR functions an attractive option for anyone seeking to exploit online media and reduce up-front costs. 5.3 E-RECRUITMENT The term e-recruitment means using information technology (IT) to speed up or enhance parts of the recruitment process. It ranges from the applicant interface for advertising vacancies and making job applications, to the back office processes, which allow a liaison between human resources (HR) and line managers to set up a talent pool or database of potential recruits.

5.3.1 Used correctly e-recruitment can: •

Enhance the applicant experience

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communicate the employer's image and culture better

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make the recruitment process faster, more accountable and standardized

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increase the diversity of applicants

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provide better management information on applicants

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Find the right candidate for the job.

According to one survey, internet postings result in nearly ten times as many hires as newspaper advertisements. 5.3.2 E-recruitment for efficiency: E-recruitment can produce cashable savings, such as reduced advertising spend or postage costs and non-cashable productivity gains as HR staff are freed up to carry out higher value tasks. Using average figures for the public sector, the recruitment firm jobs go public have estimated that a unitary council with 14,000 employees could save over £1 million by moving 20 per cent of its recruitment from press to online. The same council could save a further £140,000 in the costs of printing and administering application packs. Reducing press advertising by 80 per cent could save an average £3.8 million, with £600,000 saved on printing and administration costs. E-recruitment is part of a wider move in HR away from transactional activities, which are increasingly automated or outsourced, towards strategic activities supporting organizational goals. This is a major goal of the Local Government Workforce Strategy beyond the online job ad. 5.3.3 Benefit of E-recruitment: The full benefits of e-recruitment are often realized when it is part of an end-to-end process. Examples of this include allowing line managers to view applications online and seamless transfer of candidate information to employee records. While this may be in part an IT

procurement issue, careful measurement of costs and employee time can provide quantifiable efficiency gains. Greater use of e-recruitment can also help combat longer-term recruitment issues through the use of talent pools and better management information about applicants and new hires. 5.3.4 Key stages of an e-recruitment process: An organizations e-recruitment site can do a number of different things. The complexity of the site, and hence the level of back-office technology required, will naturally be determined by the extent to which you bring the recruitment process online. Many e-recruitment sites include a selection of the following: •

Online corporate brochure which describes the nature of the business and its culture

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Graduate or other mass recruitment (e.g. call centre positions; apprenticeship schemes) channel

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Information on vacancies, including contact email or phone number

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Detailed job specifications and any information that you may normally send out with an application pack or at interview stage

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Speculative application facility

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Online application form

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Killer questions or self selection questions to help applicants decide if the job is really for them

5.3.5 E-Recruitment Style: Job posting: This is the simplest way of advertising a job vacancy. A job posting is where you enter the job title, location, salary details and job description onto an online recruitment website, usually through the siteâ&#x20AC;&#x2122;s 'recruiter' area. This job will then be searched by candidates and will normally be matched up to relevant candidates by means of a 'jobs-by-email' service. Media buying: Process of negotiating and procuring advertising space in media including billboards, newspapers, and on Internet sites usually completed by a specialist agency due to their bulk buying power. Micro site: A small website with a narrow subject focus or few pages that are sometimes a section in a larger website. Similar terms are 'mini site' and 'site let'. Typically, a micro site has a separate identity and users are encouraged to link to it directly. OGC Gateway: OGC is the Office of Government Commerce. A Gateway Review of a procurement project is carried out at a key decision point by a team of experienced people, independent of the project team.

5.3.6 Security of E-recruitment: If you are providing an online application facility, you need to ensure that personal Information is kept secure, and your e-recruitment solution does not compromise your IT system security. For advice on system security such as design options for Secure IT architectures; contact the CESG (the information arm of GCHQ). CESG can also offer the following services you may find useful: •

Assignment of an adviser to attend meetings and provide continuity of advice throughout a project's life;

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Information on suppliers of approved / certified products;

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Help-desk style telephone advice;

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Access to alternative sources of technical advice;

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Training on specific Information Assurance issues.

5.3.7 E-recruitment of Public Sector: •

Opportunity to listen to and meet individuals from private sector

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Sharing information

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Group discussions

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Excellent networking opportunity

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Networking and information sharing

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Networking and sharing views on the subject

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Networking opportunities

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Opportunity to discuss current ambience in recruitment market

5.3.8 E-recruitment of Private Sector: •

Audience info.

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A further understanding of issues you are facing in the public sector

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Opportunity to meet and understand some of the issues facing the public sector

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Opportunity for both public and private sector to meet, start/continue dialogue and to share information

â&#x20AC;˘

Hearing peopleâ&#x20AC;&#x2122;s ideas, feeling that the move to online recruitment is moving positively Networking

5.4 RECRUITING VIA THE ONLINE More and more people are going online to look for jobs. One survey found that on a typical day, more than 4 million people turn to the Web looking for jobs. Employers are therefore making it easy to use their Web sites to hunt for jobs: 71% of the Standard &. Poor's 500 place employment information just one click away from their home pages. Job seekers can submit their resumes online at 90% of the Fortune 500 Web sites; however, only about 25% give job seekers the option of completing online applications, although it is the method many applicants prefer, according to one expert. Some managers use the online to search for applicants in reverse. Rather than place their own net ads, they do keyword searches on sites such as Hot jobs' resume database. For example, when the HR manager for one hydraulic products company placed a Sunday ad in his local newspaper, it cost $3,000 and produced about 30 resumes, 10% of which were relevant.6'' By comparison, he found that keyword search of the Hot job database produced 52 resumes, many of which included the necessary industry experience. "I find more qualified candidates by searching for resumes than posting ads" he says. Employers list several advantages of online recruiting. In general, the Web is a relatively cost-effective way for firms to publicize openings. For example, Marsha Whaley, HR director for the Washington, DC-based American Crop Protection Association, no longer runs $400 ads in the Washington Post when she's looking for professionals. Instead, ads on WashingtonPost.com cost only $200. And, "instead of a tiny ad that says, ACPA needs an accountant,' I get a whole page to describe the job, give information about the association, and include a link to our Web site." 69 Furthermore, she estimates that for half the cost of a Sunday newspaper ad, she averages nine times as many applicants' resumes via the online ad. A newspaper ad might also have a life span of perhaps 10 days, whereas the online ad may keep attracting applications for 30 days or more. Online recruiting can also be more timely. Responses to electronic job listings may come the day the ad is posted, whereas responses to newspaper ads can take a week just to reach an employer (although including a fax-response or e-mail address can provide quick responses, too).

Employers can also use online support tools such as Recruiter Toolbox to create online ads that include prescreening tests, thus further automating the recruiting process. They can also supplement their own Web site ads with a variety of job search sites, who popular recruitment Web sites arc presented in Figure 5-9. E-recruiting docs have some potential legal pitfalls. For example, since more your people use the Internet, automated online application gathering and screening might the employer inadvertently excludes higher numbers of older applicants. Furthermore, .the U.S. government's Office of Federal Contract Compliance Programs requires certain employers to track "applicant flow data. "To do so, the employer needs detailed information regarding applicants, information the online screening software might not provide.7 Applicant Tracking Web-based ads often produce so many applicants that most firms are installing applicant tracking systems to support their on- and offline recruiting efforts. Well-known tracking systems (such as.rccruir.soft.com, and track-IT solutions) help employers monitor applicants.73 They also provide several services, including requisitions management (for monitoring the firm's open jobs), applicant data collection (for scanning applicants' data into the system), and reporting (to create various recruiting-related reports such as cost per hire and hire by source). Using an E-Recruiting Applications Tracking ASP For example, with 10,000 job openings per year, Sutter Health Corporation had to generate a lot of recruits to continue its fast-growth strategy. However, moving its job postings online not only didn't help; it actually complicated the process.75 Online postings did generate many more applications—300,000 a year, to Bo exact—but it didn't speed up the hiring process. Sutter Health had so many resumes coming in by e-mail and through its Web site that the applications ended up in a huge pile, waiting for Sutter affiliates' HR departments to get to them. If the company wanted to grow and to provide the value-added services to its affiliates it had built its reputation on, it needed a new recruiting approach. Suttcr Health's solution was to sign on with Rccruitsoft, Inc., of San Francisco. Recruit soft is an e-recruiting applications service provider (ASP), and it now docs all the work of hosting Sutter Health's job site. As an applications service provider, Recruit soft doesn't just post Suttcr Health job openings and collect its resumes; it also gives Sutter Health "an automated way to evaluate, rank and match IT and other job candidates with specific openings." For example, Recruit soft’s system automatically screens incoming resumes, compares them with Sutter’s job requirements, and flags high-priority applicants. And this, says Keith Vencel, the project manager who came up with this solution, helped Sutter cut its recruiting process from weeks to days—and thereby helped ensure that Sutter’s expansion strategy stays on track.

5.4.1 Designing Effective Online Recruiting Programs: Designing effective online help wanted ads doesn't mean just recycling your newspaper ads and placing them on the Web. As one e-recruiting specialist put it, "getting recruiters out of the 'shrunken want ad mentality" is a big problem." Even for large newspaper display ads, employers are limited to brief descriptions of the job. For the more common (and brief) newspaper classified ads, they have to revert to cryptic abbreviations. It's a mistake to simply take these newspaper ads and transpose then to the Web. Figure 5-10 is an example of what happens when you do this. It is poorly written, has many needless abbreviations, and doesn't say much about why the job Secker should want that job or that employer. Now look at the effective Web ad on the bottom of Figure 5-10 from Monster.com. It uses compelling keywords such as "success d wet) professionals" and "independent." It provides good reasons (such as "six figure income,") why you would want to wort; for this company. And, it starts off with an attention-; 'abbing opening line.

5.5 E-RECRUITING SAVING COST & OTHER BENEFIT: The inclusion of e-recruitment into a modern HR strategy is widely accepted in the private sector. Benefits of this approach can include improved ability to attract the "right" candidate to a difficult to fill vacancy, help in reaching a diverse audience, and cost savings from streamlining administration process and reducing advertising budgets. However, fully exploiting this technology can be challenging 5.6 E-RECRUITING LITERATURE CONCEPT: There are potentially significant savings in agency fees and advertising costs that can be achieved by adopting such a strategy. Streamlining administration procedures through online application facilities will deliver still further cost savings. But these are not the only significant benefits that will accrue to your organization. Importantly, such an approach to your recruitment and retention challenges will also provide an opportunity for developing your insight into jobseeker behaviors that will enhance and sustain the effectiveness of your HR programmed. In such a rapidly changing environment, achieving best value in procurement for erecruitment solutions can be challenging. The UK labour market is currently highly competitive, which means all employers must work hard to attract and retain staff. Recruitment and retention are particular challenges for public sector organizations where

budget allocations for such processes are limited. Although e-recruitment can often be very effective, not all jobs lend themselves to an exclusive e-recruitment strategy. A blended answer of private and public dissemination of your advertising is therefore likely to be part of your strategy. Your options are limited if your public-facing website fails to draw in suitable candidates, runs behind schedule due to misunderstandings with contractors, or incurs unforeseen costs due to poor specifications. Collaborative solutions offer useful alternatives, but government should not collaborate with third parties to create a monopoly situation. This guide can help project teams seeking to develop cost effective, fully integrated

recruitment solutions that attract high quality candidates to public sector vacancies. It offers useful sources of expertise and information about emerging trends in search and selection, and statutory obligations that need to be factored into your project specification. 5.7 E-RECRUITING APPLING IN JOB BOARD: There are a number of options available to you when looking to take your recruitment campaigns online. Each has different technical specifications, and will require different resources. This section outlines some of considerations to help you find the right solution. When people speak about a ‘job board’ they are generally referring to a website that specializes in advertising positions vacant. It is a database carrying a number of jobs from a number of employers linked to a website at the front-end. This is a user-friendly interface that allows potential candidates to browse the available jobs according to criteria they set themselves, such as location or pay scale. This is a useful option if you have a low volume of positions that become available infrequently. A ‘job board’ could be your starting point for building an effective online HR strategy.

Today, job boards are the fastest growing area in recruitment, with traditional recruitment agencies leading the way - using them to raise awareness with job seekers to supplement their existing search and selection services. Job boards come in three general types â&#x20AC;&#x201C; niche boards specializing in recruitment to certain industries, generalist jobs boards taking adverts for everything from cleaners to chief executives, and local job boards which focus on opportunities in a particular geographical area. E-recruitment can really help streamline recruitment operations by automating services you might not otherwise be able to fund. For example, facilities can be added to enable candidate e-mail alerts when jobs meeting their criteria become available. Applicant profiling and C.V. banking (holding C.V. s on database to enable-mail alerts when a suitable vacancy appears) can also add value. 5.8 E-RECRUITING SCOPE & STRUCTURE OF PUBLIC SECTOR: These guidelines are aimed at individuals in the public sector who are or who will be involved in the development and delivery of e-recruitment projects. Whilst the focus of the paper is on strategies for external recruitment, the principles are also relevant to internal search and selection strategies. This guide is intended to help you:

•

achieve best value for money;

•

maximize effectiveness of your recruitment campaign;

•

comply with legal requirements, and

•

Make the most of the technical know how that private-sector publishers (and public sector practitioners) can provide.

The job boards market is growing fast, so you will find that competition in attracting the attention of the best candidates will be fierce. To make your site appealing to job seekers and secure the efficiency savings you desire, you nee to provide a well-thought-out user interface and an attractive level of functionality to users. So it is important that you understand the current state of the market, not just in technology, but also in analysis and pre-interview screening terms. This guide takes you through scoping your project for your business plan, including suggestions for a Project Impact Review (PIR). It offers signposts through the procurement options available and helps you come to grips with your regulatory requirements. You are left with some final considerations, provided with some useful contacts, and an indicative list of regulatory requirements. There is also a quick reference guide of ‘do’s’ and ‘don’ts’. 5.9 E-RECRUITING IMPORTANT ELEMENTS: •

Set target volumes, quality, and diversity of applicants you hope to attract: This will help you set clear terms and conditions with any service provider you might choose later to contract with. So you should also remember to factor in a requirement for any potential provider to specify methods to measure awareness of your site to all target groups.

•

Be clear of your obligations as a recruiter: In addition to the basic employment and advertising rules which apply to online recruiters, there are a number of statutory obligations that apply specifically to public sector organizations. For an indicative list of the requirements which may apply see Annex B.

•

Consult on objectives before implementing your project strategy or starting a competitive content development bidding process: Refining your project

specification by inviting expert industry input at an early stage in scoping your project will help you achieve your objective of introducing an effective recruitment vehicle that saves tax-payers money. •

Tap into current best practice: as well as keep up with emerging trends in technology, by entering in to a dialogue with industry and specialist networks across government. This support will make you better able to address difficulties that arise in developing a complex e-recruitment solution, as well as getting the best from your overall recruitment strategy. The key senior responsible officer (SRO) should make contact with commercial stakeholders as early as possible to maximize the effectiveness of this dialogue.

•

Options: In order to establish the full range of potential solutions to your recruitment challenge, you need to start from a baseline of current practice, or business as usual’. This will help to reveal the full range of potential impacts on the HR function of transition to an e-recruitment strategy. When evaluating your options:

•

compare Internet-only options to press-only options;

•

Consider whether an incremental approach may be best for your organization, either in terms of the type of jobs you post electronically, or the services offered. For example, integration of a corporate job board with other HR processes such as payroll or staff records is potentially the most complex and expensive part of an e-recruitment solution.

•

Risks: Government websites and access to information on government servers must be protected. You can talk to the national technical authority for information assurance, Communications-Electronics Security Group (CESG), about technological failure.

•

call-off contracts to cover the possibility of uncompleted works (perhaps due to company insolvency) or contract breaches. Your contract with your supplier should be framed to accommodate this. Also speak to your communications team about media campaign management to plan for responses to adverse publicity, to ease pressure on the project team •

Cost-benefit assessments should cover the full range of costs and benefits associated with any service option. There are a number of hidden costs associated with establishing an effective web site and it is important that you scope these.

•

A stand-alone recruitment web site may appear cheap to set up and maintain– but you will need to factor in the associated hidden costs of drawing the right job-seekers to the site. Consider job fairs, trade events, and speak to publishers about whether they run any themed issues which may be relevant to your Set target volumes, quality, and diversity of applicants you hope to attract: This will help you set clear terms and conditions with any service provider you might choose later to contract with. So you should also remember to factor in a requirement for any potential provider to specify methods to measure awareness of your site to all target groups.

•

Consult on objectives before implementing your project strategy or starting a competitive content development bidding process: Refining your project specification by inviting expert industry input at an early stage in scoping your project will help you achieve your objective of introducing an effective recruitment vehicle that saves tax-payers money.

•

developing a complex e-recruitment solution, as well as getting the best from your overall recruitment strategy. The key senior responsible officer (SRO) should make contact with commercial stakeholders as early as possible to maximize the effectiveness of this dialogue. •

•

compare Internet-only options to press-only options;

•

Remedial actions: During the planning stage you should consider the actions needed to ensure that any systems failure does not lead to complete operational failure, and threaten the completion of your recruitment drive. For example, think about how you are storing the data; it should be securely backed-up on a separate server. Consider call-off contracts to cover the possibility of uncompleted works (perhaps due to company insolvency) or contract breaches. Your contract with your supplier should be framed to accommodate this. Also speak to your communications team about media campaign management to plan for responses to adverse publicity, to ease pressure on the project team

•

A stand-alone recruitment web site may appear cheap to set up and maintain– but you will need to factor in the associated hidden costs operations.

•

Maintaining your profile with potential audiences means regularly reinforcing brand awareness and signposting to your website. So there will be ongoing and recurring promotional costs.

5.10 AUDIENCE/CUSTOMER PROFILE Establish a picture of the candidates you are trying to reach and their current job searching behaviors. You could start by looking at what media you currently use for jobs advertising. There might be services you wish to continue paying for. Talk to your existing service providers and take stock of any performance reviews for former or existing campaigns. In developing your e-recruitment strategy you are tapping into an underlying trend: more and more people are using the Internet to look for jobs. But this is an emerging pattern, and during this transitional period, you should also look at current behaviors of job seekers to maximize the effectiveness and fairness of your overall recruitment strategy. E recruitment should be seen as a complementary strand of your overall strategy, which needs to be responsive to the behaviors of jobseekers. Indeed, it is important that an exclusive erecruitment strategy should not be seen as mandatory for your organization. You should also consider any infrastructure requirements for ensuring that internal candidates have full access to job vacancy information. Consider talking to the Central Office of Information (COI) who is a source of expertise on publicity and recruitment. 5.11 OPPORTUNITIES AND THREATS Making the transition to an e-recruitment strategy will radically alter your relationship with traditional media. The opportunity to make real savings in your advertising budget should be balanced with the need to reach the best possible range of candidates for your vacancies. Publishers servicing your target community of potential candidates will want the opportunity to work with you to make sure your job ads reach the right audience. Information about public sector vacancies is a valuable part of the content for many magazines, national, regional and local newspapers as well as commercial web sites. These advertisements benefit publishers not only through advertising revenue, but also because they attract readers, making the publication a "must read" for those either seeking jobs, or just keeping an eye on the job market. In turn, these generate a significant amount of nonrecruitment advertising as agencies target readership profiles for particular goods and services. In some cases the media may even find your job vacancy information valuable enough as a draw for their readers that they will carry it for free. 5.12 MARKET INTELLIGENCE:

Looking at how other employers are addressing their recruitment problems, both in the public and private sectors, will help you to identify the best solution for your own recruitment challenge. You have a number of options here and a combination of these will provide you with the best market intelligence: •

off-shelf products about the generic recruitment market / public sector;

•

commission independent research specific to your organizational needs;

•

Informal dialogue with industry.

Regular dialogue with interested commercial parties can give you valuable information. Consider using the Digital Content Forum (DCF) to maintain contact with these stakeholders. These consultations can even be seen as a contribution to Office of Government Commerce (OGC) Gateway stage evaluations, which are mandatory processes for government procurement projects 5.13 SUCCESSFUL COMPETITION FOR CANDIDATES Competition with other employers for quality candidates means that you need to be innovative in providing an attractive and usable interface for your job site. These candidates may not be focusing on your specific organization for employment opportunities, or even be aware of its existence; they may simply be browsing to keep abreast of the job market. To tap into the marketplace for jobs, you have two tools available: promotion of your jobsite and good distribution of those jobs in those places where your candidates are browsing. Often the most difficult part of promoting a website is attracting a large number of quality applicants from across the spectrum. Lessons learned by the private sector in establishing commercial job boards can be exploited to meet this challenge, while satisfying the need for diversity and quality in your pool of candidates. For example, it is standard industry knowledge that job boards only have the potential to reach ‘active job seekers’ and agencies will use additional strategies to attract further candidates from outside this group. 5.14 OPERATIONAL CONSIDERATIONS: Your e-recruitment project gives you an opportunity to review the whole way in which your HR function operates. But it must be handled carefully to avoid unintended consequences for

your own organization. For example, your business plan must factor in how tasks currently provided by advertising /recruitment agencies, e.g. media buying or candidate sifting, will be handled. By maximizing the opportunities to exploit synergies with other public sector bodies’ recruitment initiatives, you can secure strategic and financial advantages. For example, other departments may be recruiting specialists, or may be planning a recruitment drive in a particular locality. Coordinating your recruitment advertising may improve your media buying power, or enable you to take advantage of themed events that will draw candidates to your campaign. Conversely, failing to monitor other departments’ activities may mean that you end up losing quality candidates to other organizations, for reasons as simple as the timing of your campaign. 5.15 MAKING SAVINGS An open dialogue with the wider private sector before awarding any delivery contract, will give a clearer picture of industry solutions and the relative costs of those tools. You will be in a much stronger position to secure best value from your service provider. It will also raise awareness among advertising suppliers of your changing recruitment needs, and so improve levels of competition in private sector tenders for government contracts. By retaining a level of continuity with existing service providers in the short-term, you may reduce immediate savings in your press recruitment advertising budget, but you can be confident that you are still reaching the full pool of potential applicants. 5.16 E-RECRUITING ROUTES SOLUTION: There are various routes to contracting for your e-recruitment solution. These include: •

Partnership arrangements.

•

Framework arrangements and contracts.

•

Open procurement under Official Journal of the European Union (OJEU) rules.

5.16.1 Partnership arrangements

Public sector organizations including local authorities are expected to work in partnership with each other, with other local public services and the private sector to deliver services in a cost-effective manner. For further details of the benefits of partnering you should contact the Cabinet Office e-government unit or OGC. 5.16.2 Framework arrangements and contracts: •

Frameworks are department-level and pan-government wide agreements to provide goods, works or services on specified terms. There are two basic types: framework arrangements and framework agreements.

5.17 E-RECRUITMENT OF PRIME BANK LIMITED: Prime bank is a large commercial bank in Bangladesh. The have thousand of employee. They work in many branches Sometime need employee. That time the bank authority published job circular. So E- recruitment is a modern way of circular. This way is more helpful for bank and applicants. Way of E-recruitment: There are some way of circular that’s given below: •

At first they provide circular in internet

•

Detail saying about of job

•

Then they collect resume from applicant .Its must be collect using internet.

•

Applicant fulfill recruitment using internet

•

Applicant resume analysis

•

Selecting resume

•

And call for interview

•

Then finally select of employee

All this work completing for they use own website or rent website .As like BDJOB.COM, PPROTHAM ALO JOB.COM., This type of big job site.

Chapter- SIX Analytical Part & Data Presentation To prepare this report taken some sample on randomly basis from the bank officer and executive level to signify the topic- how much important E-Recruiting system for the prime bank or other banking organization. The taken only fifty samples and designed the questionnaire by ten questions. The analysis the questionnaire by SPSS software. The mentioned only frequency distribution (mean, median, mode, standard deviation) and try to find out the probable result about the E-Recruiting system of Prime Bank. The ten questions are represented one by one and explained it through table and figure: The output for each question is produced on shown three heads-frequencies, frequency table, and bar chart respectively of each question.

Frequencies E-Recruiting can save the time Table: 1.1

Statistics

E-Recruiting can save the time N Valid Missing

50 0

Mean

4.00

Median

4.00

Mode

Std. Deviation

1.278

Table: 1.2

E-Recruiting can save the time

Frequency Valid

Strongly Disagree Medium Neutral Medium Agree Stronly Agree Total

Percent

Valid Percent

Cumulative Percent

6.0

14.0

20.0

2.0

22.0

30.0

52.0

48.0

100.0

Figure: 1.1

E-Recruiting can save the time 60

Percent

10 0 Strongly Disagree

Neutral Medium

Stronly Agree Medium Agree

E-Recruiting can save the time

As refer to the table: 1.1, 1.2 and figure 1.1 tell us something that 48% officers are strongly agree that E-Recruiting can save the time. Only 6% officer are strongly disagree on its. Mean of this variable is 4.00 that means average officers are agree E-Recruiting can save the time. Mode is 5, that means most of the officers are strongly agree its. Standard deviation 1.278 that is more deviation from mean so it is prove that E-Recruiting can save the time.

E-Recruiting is faster than normal recruiting process Table: 2.1

Statistics

E-Recruiting is faster than normal recruiting process N Valid 50 Missing 0 Mean

3.50

Median

4.00

Mode Std. Deviation

Table: 2.1

4 1.147

E-Recruiting is faster than normal recruiting process

Frequency

Percent

Valid Percent

Cumulative Percent

Valid

Strongly Disagree Medium Disagree Neutral Medium Agree Strongly Agree Total

4.0

20.0

24.0

18.0

42.0

38.0

80.0

20.0

100.0

Figure: 2.1

E-Recruiting is more than normal recruiting process 50

Percent

0 Strongly Disagree Medium Disagree

Neutral

Strongly Agree Medium Agree

E-Recruiting is more than normal recruiting process

As refer to the table-2.1, 2.2 and figure 2.1, forecast that officer opinion is diversified. Only 38% officers are medium agree that E-Recruiting is faster than normal recruiting process. Equally 20% officers are medium disagree and strongly agree with it. Modes appear it. Standard deviation 1.147 that is greater deviation from mean value 3.50. So, it is proving that some officers are agreeing with this opinion.

E-Recruiting is more efficiency for organization Table: 3.1

Statistics

E-Recruiting is more efficiency for organization N Valid 50 Missing 0 Mean

3.32

Median

4.00

Mode

Std. Deviation

Table: 3.2

1.186

E-Recruiting is more efficiency for organization

Frequency Valid

Strongly Disagree Medium Disagree Neutral Medium Agree Strongly Agree Total

Percent

Valid Percent

Cumulative Percent

6.0

24.0

30.0

18.0

48.0

36.0

84.0

16.0

100.0

Figure: 3.1 E-Recruiting is more efficiency for orgnzation 40

Percent

0 Strongly Disagree Medium Disagree

Neutral

Strongly Agree Medium Agree

E-Recruiting is more ef f iciency f or orgnzation

Table-3.1, 3.2 and figure-3.1 shows that 36% officers are medium agree to the E-Recruiting efficiency for the organization. Only 6% officers are strongly disagree with it. 24% officers are medium disagree with it. Mode is 4 that is appeared, most of the officers are medium agree; E-Recruiting is more efficiency for the organization.

E-Recruiting can help find the right candidate for the right place Table: 4.1

Statistics

E-Recruiting can help find the right candidate for the right place N Valid 50 Missing 0 Mean

2.84

Median

3.00

Mode

Std. Deviation

Table: 4.2

1.251

E-Recruiting can help find the right candidate for the right place

Frequency Valid

Strongly Disagree Medium Disagree Neutral Medium Agree Strongly Agree Total

Percent

Valid Percent

Cumulative Percent

22.0

12.0

34.0

68.0

24.0

92.0

8.0

100.0

Figure: 4.1

E-Recruiting can help find the right candidate for the right place 40

Percent

0 Strongly Disagree

Neutral

Medium Disagree

Strongly Agree Medium Agree

E-Recruiting can help find the right candidate for the right place

As per the table-4.1, 4.2 and figure 4.1 shows that 34% officers are neutral their opinion. 24% officers are medium agree that E-Recruiting can help to find out the right candidate for the right place. Only 8% officers are strongly agree with it. Mode value is 3 that is neutral. Standard deviation 1.251 and mean value 2.84, deviation between two of these is not greater thatâ&#x20AC;&#x2122;s also appeared most of the officers opinion are neutral.

E-Recruitment creates more hazards on employer Table: 5.1

Statistics

E-Recruitment creates more hazards on employer N Valid 50 Missing 0 Mean

3.48

Median

4.00

Mode Std. Deviation

4 1.015

Table: 5.2

E-Recruitment creates more hazards on employer

Frequency Valid

Strongly Disagree Medium Disagree Neutral Medium Agree Strongly Agree Total

Percent

Valid Percent

Cumulative Percent

6.0

10.0

16.0

24.0

40.0

50.0

90.0

10.0

100.0

Figure: 5.1

E-Recruitment creates more hazard on employer 60 50 40 30

Percent

20 10 0 Strongly Disagree

Neutral

Medium Disagree

Strongly Agree Medium Agree

E-Recruitment creates more hazard on employer

As refer to the table-5.1,5.2 and figure-5.1, it is appeared that 50% officers are medium agree that E-Recruitment creates more hazard on employee. 24% officers are neutral opinion and only 6% strongly disagree with it. Mode value is 4.00 that match with most of the officers are medium agree E-Recruitment creates more hazard on employee.

E-Recruiting can minmize the organization cost Table: 6.1

Statistics

E-Recruiting can minimize the organization cost N Valid 50 Missing 0 Mean

3.42

Median

3.00

Mode

Std. Deviation

Table: 6.2

.859

E-Recruiting can minmize the organization cost

Frequency Valid

Strongly Disagree Medium Disagree Neutral Medium Agree Strongly Agree Total

Figure: 6.1

Percent

Valid Percent

Cumulative Percent

2.0

6.0

8.0

52.0

60.0

28.0

88.0

12.0

100.0

E-Recruiting can minmize the organization cost 60

Percent

10 0 Strongly Disagree

Neutral

Medium Disagree

Strongly Agree Medium Agree

E-Recruiting can minmize the organization cost

Table-6.1, 6.2 and figure-6.1 shows that 52% officers opinion is neutral, 28% officers are medium agree; only 2% officers are strongly disagree that E-Recruiting can minimize the organization cost. Mode value is 3 that is appeared with it (neutral). There are greater dispersion between mean value and standard deviation value.

E-Recruiting creates new culture within organization Table: 7.1

Statistics

E-Recruiting creates new culture within organization N Valid 50 Missing 0 Mean

3.94

Median

4.00

Mode

Std. Deviation

Table: 7.2

1.150

E-Recruiting creates new culture within organization

Frequency Valid

Strongly Disagree Medium Disagree

Percent

Valid Percent

Cumulative Percent

6.0

12.0

Neutral Medium Agree Strongly Agree Total

14.0

26.0

36.0

62.0

38.0

100.0

Figure: 7.1

E-Recruiting creates new culture within organization 40

Percent

0 Strongly Disagree

Neutral

Medium Disagree

Strongly Agree Medium Agree

E-Recruiting creates new culture within organization

As per the table-7.1, 7.2 and figure 7.1 most of the officers are agree that E-Recruiting process creates new culture within organization where 38% officers are strongly agree and 36% officers are medium agree. Mean and mode value appeared with it. Standard deviation value is more deviate from mean value.

E-Recruiting process implementation is difficult Table: 8.1

Statistics

E-Recruiting process implementation is difficult N Valid 50 Missing 0 Mean

3.34

Median

3.00

Mode Std. Deviation

4 1.062

Table: 8.2 E-Recruiting process implementation is difficult

Frequency Valid

Strongly Disagree Medium Disagree Neutral Medium Agree Strongly Agree Total

Percent

Valid Percent

Cumulative Percent

2.0

24.0

26.0

52.0

34.0

86.0

14.0

100.0

Figure: 8.1

E-Recruiting process implementation is difficult 40

Percent

0 Strongly Disagree

Neutral

Medium Disagree

Strongly Agree Medium Agree

E-Recruiting process implementation is difficult

As refer to the table-8.1, 8.2 and figure 8.1 it is shows that most of the officers are medium agree E-Recruiting process implementation is difficult. 26% are neutral and 24% medium disagreeing with it. Mean and mode value prove that most of the officer are agree that ERecruiting process implementation is difficult.

E-Recruiting can effectively justify applicant qualification

Table: 9.1

Statistics

E-Recruiting can effectively justify applicant qualification N Valid 50 Missing 0 Mean

3.00

Median

3.00

Mode

3(a)

Std. Deviation

1.143 a. Multiple modes exist. The smallest value is shown Table: 9.2

E-Recruiting can effectively justify applicant qualification

Frequency Valid

Strongly Disagree Medium Disagree Neutral

Percent

Valid Percent

Cumulative Percent

14.0

16.0

30.0

32.0

62.0

Medium Agree Strongly Agree Total

32.0

94.0

6.0

100.0

Figure: 9.1

E-Recruiting can effectively justify applicant qualification 40

Percent

0 Strongly Disagree

Neutral

Medium Disagree

Strongly Agree Medium Agree

E-Recruiting can effectively justify applicant qualification

As refer to the table 9.1, 9.2 and figure 9.1 shows that 32% officers are equally medium agree and neutral; E-Recruiting can effectively justify applicant qualification. 7% officers are strongly disagreeing with it and only 6% officers are strongly agree with it. Mean and mode value appeared with most of the officer opinion.

E-Recruiting is in secured Table: 10.1

Statistics

E-Recruiting is in secured N Valid Missing

50 0

Mean

2.46

Median

2.00

Mode Std. Deviation

Table: 10.2

2 1.164

E-Recruiting is in secured

Frequency Valid

Strongly Disagree Medium Disagree Neutral Medium Agree Strongly Agree Total

Percent

Valid Percent

Cumulative Percent

26.0

28.0

54.0

22.0

76.0

22.0

98.0

2.0

100.0

Figure: 10.1

E-Recruiting is insecured 30

Percent

0 Strongly Disagree Medium Disagree

Neutral

Strongly Agree Medium Agree

E-Recruiting is insecured

As refer to the table-10.1, 10.2 and figure 10.1 shows that officerâ&#x20AC;&#x2122;s opinion is diversified. There is no one major side opinion about it. Here 26% strongly disagree, 28% medium disagree, 22% neutral, and 22% medium agree. On the other hand only 2% officers are strongly agreed with it. Mode and mean value appeared that few officers are more medium disagree; E-Recruiting is in secured.

Chapter- Seven Findings, Recommendations and Conclusion 7.1 FINDINGS Some findings of these reports:

•

When a joint stock company comes to open an account if the company happens to be an existing one, the banker should demand copies of the balance sheet and profit &loss account, which will reflect the financial growth of the company and its soundness. But in practice companies and the bankers as well don't even bother.

•

Encoding and decoding process of test number eat up the lion share of the time of the officer who works in that desk. But a simple computer program could do the same if the desk were computerized.

•

Officer of the bank are competent. Even though many of them simply know the working procedure of what they are doing but don't know the philosophy behind doing those. Project loan requires testing of feasibility of project and judging the marketability of the product. It requires infusion of both the fields marketing and banking. But the bank has hardly any person with this kind of ability.

•

Like most of the private banks, Prime Bank also imposes a target deposit for collection upon its employees. Every employee has to go out for the purpose of deposit collection, which they call "development purpose". It is an effective method no question about it, since many banks of our country rely on this method. But sometime affect negatively and cause job dissatisfaction. Officers of the desk, where workload is very high, hardly get the chance to go out for development purpose and always feel that their duties for the organization would not be evaluated unless they can show a good amount of deposit collection against their name.

•

The Branch has foreign exchange department. For this the bank can provide Import Export facility to the customers. This incurs a huge amount of profit for the bank

•

This report mainly focus E-Recruiting process of the Prime Bank, thus process is positively significant for the bank.

•

Most of the interviewee suggests that E-Recruiting process of Prime Bank is most important for the bank.

•

E-Recruiting process increases the efficiency of the bank activity although there are some weak activities of E-recruiting process.

•

E-Recruiting process highlighted the bank as a modern banking system.

7.2 RECOMMENDATIONS

1. The entire department should be well informed regarding their goals and objectives. It is essential to execute company objectives into individual target. 2. There must be a clear allocation of responsibilities authority and accountability. 3. The bank should introduce more promotional activities. 4. The bank should take the initiative to develop an effective research and development center to get innovative ideas to capture the competitive market. 5. Job description should be clarified and proper training should be imparted to improve the performance of bottom level management. 6. Selection and training must be focused to develop and exploit leadership and entrepreneurial qualities within the work place. 7. Bank should effectively implement E-Recruiting process. 8. Bank has to be developed software system for E-Recruiting process. 9. To meet todayâ&#x20AC;&#x2122;s urge of the customer, the bank should introduce E â&#x20AC;&#x201C; Banking system, Credit Card and Automated Teller Machine (ATM) on more effectively. 10. The bank has the provision of internship program but there is no organized structure for the internship program. The bank can properly utilize the internees at minimum cost. 11. The bank should go for advertising about their bank what types of facility they are executing for the customer. As a result banking activities will expand.

7.3 CONCLUSION Banking sector is growing in Bangladesh as like as all over the world. This industry always tries to provide better service their customer and develop their operational system. Prime Bank is one of the significant banks in our country. These banks are comprehensive of other modern banking system. The bank use modern banking system and always try to introduce new banking system of us. One of the new practices of the prime bank is E-Recruiting process of their banking system. Although banks have some limitations to practices the ERecruiting system but prime banks try to overcome it to modernize their electronic banking system. Most of the bankers executives are agree that E-Recruiting system introduces the Prime Bank as a modern bank. The E-Recruiting process system increases the banks efficiency.

Eventually we say the gradual and successful globalization of electronic banking coupled with growing awareness of the people about its financial and social benefits makes it clear that the next century is going to be the century of Prime Bank Limited Banking.

BIBLIOGRAPHY www.primebank.bd.com www.bangladeshinfo.com www.bangladeshbank.org.com www.privatebank.bd.com www.cif.com www.google.com www.yahoo.com www.e-recriutment.org.com www.spss.com The book of “Bank Fund Management & Financial Services”- Peter S. Rose & SYLVIA C. Hudgings. Mc Graw, Hill Irwin. The book of “International Human Resource Management”Annul report of Prime Bank Limited 2009. Economic Trends: Statistics Department of BD Bank – Jan 2008 Bank Parikrama : Volume XX1V, No 2 Banking in Bangladesh – Evolu on and the present status by Faruquddin Ahmed

APPENDIX Survey Questionnaire: 1. Is E-Recruiting can save the time? 2. Is E-Recruiting is faster than normal recruiting process? 3. Is E-Recruiting is more efficiency for organization? 4. Is E-Recruiting can help find the right candidate for the place? 5. Is E-Recruiting creates more hazard on employer? 6. Is E-Recruiting can minimize the organization cost? 7. Is it creates new culture within organization? 8. Is E-Recruiting process implementation is difficult? 9. Is E-Recruiting can effectively justify applicant qualification? 10. Is E-Recruiting is insecure? MEAN Mean or average is the sum of the values of a variable divided by the number of observations. MEDIAN Median is a point in the data set above and below which half of the cases fall. MODE Mode is the most frequently occurring value in a data set. RANGE Range is the difference between the largest and the smallest value. VARIANCE Variance is the sum of the squared deviation of each value from the mean divided by the number of observations. Standard deviation is the positive square root of variance.