Strategic Implication of HRMOnShahjalal Islami Bank Limited
Contents Company Information Questionnaires Recommendation
Company InformationShahjalal Islami Bank Limited (SJIBL)Shahjalal Islami Bank Limited (SJIBL) commenced its commercial operationin accordance with principle of Islamic Shariah on the 10th May 2001 underthe Bank Companies Act, 1991. During last eleven years SJIBL hasdiversified its service coverage by opening new branches at differentstrategically important locations across the country offering various serviceproducts both investment & deposit. Islamic Banking, in essence, is not onlyINTEREST-FREE banking business, it carries deal wise business productthereby generating real income and thus boosting GDP of the economy.Board of Directors enjoys high credential in the business arena of thecountry, Management Team is strong and supportive equipped with excellentprofessional knowledge under leadership of a veteran Banker Mr. Md. AbdurRahman Sarker.
SJIBL Mission•To provide quality services to customers.•To set high standards of integrity.•To make quality investment.•To ensure sustainable growth in business.•To ensure maximization of Shareholders wealth.•To extend our customers innovative services acquiring state-of-the-arttechnology blended with Islamic principles.•To ensure human resource development to meet the challenges of the time.SJIBL Motto•Committed to Cordial Service.
Corporate InformationName of the Company Shahjalal Islami Bank LimitedLegal Form A public limited company incorporated in Bangladesh on 1st April 2001 under the companies Act 1994and listed in Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited.Commencement of Business 10th May 2001Head Office Uday Sanz, Plot No. SE (A)2/B Gulshan South Avenue,Gulshan - 1, Dhaka-1212.Telephone No. 88-02-8825457,8828142,8824736,8819385,8818737Fax No. 88-02-8824009Website www.shahjalalbank.com.bdSWIFT SJBL BD DHE-mail firstname.lastname@example.orgChairman Alhaj Anwar Hossain KhanManaging Director Md. Abdur Rahman SarkerAuditors M/S. Huda Vasi Chowdhury & Co.Chartered AccountantsIspahani Bhaban14-15 Motijheel C/ADhaka-1000Phone: 88-02-9555915, 9560332Tax Advisor M/S K.M Hasan & Co.Chartered Accountants87, New Eskaton RoadDhaka.Phone: 88-02-9351457, 9351564Legal Advisor Hasan & AssociatesChamber of Commerce Building(6th floor), 65-66 Motijheel C/A, DhakaNo. of Branches 79No. of ATM Booth 29No. of SME Centers 06Off-Shore banking Unit 01No. of Employees 1,811Stock Summary:Authorized Capital Tk. 6,000 millionPaid up Capital Tk. 5,566 millionFace Value per Share Tk. 10
QuestionnairesOperational basic functions of HRM in Shahjalal Islami BankLimited (SJIBL)First of all the four basic function of HRM are staffing, training, development andmotivation & maintenance. Not every company follows the proper rules whichwe have learned from the book, but we do follow few basic steps, firstly ourcompany focuses on planning and to set the goal, secondly we target our profitwhich includes deposit, investment and foreign trade then we divide worksbetween employees /branches then we focus on controlling and to know theoutcomes to arrange a manager conference after every 3 months.Recruiting Process of SJIBLIn our case of our company, we have 2types of recruitment:-•Experience banker hunting.•Fresh graduate recruit.The process which we usually use when we hire fresh graduates is, we plan first,then we sort out whether we are in shortage of employees or there are too muchof employees, then we take approval from the board of directors for recruitmentthrough a memo, then we give advertisement with details.
Motivation process of SJIBL employeesWell, our company motivates the employees mainly financially which we gives ouremployees a yearend bonus after every competing every year, if someone is expectingchild, then we manage to give them some percentage of the maternity expense, ifsomeone meets an accident we give them the fees of the treatment and then othermotivations are, family right, annual picnic, promotions etc.Discipline maintaining factors in SJIBLWell, we strictly follow code of conduct but if anybody break the discipline then he orshe is ask for show cause, if his or her reason is not justified then he or she is warnedand told not to do this in the future. If he or she continuously does the same fault, thenthat person is detained until further order from the managements. And if the fault isfinancial related then he is immediately suspended.Steps that SJIBL take before dismissingFirstly we give our employees a warning and then we dismiss them. If the case isrelated to anything financial then we suspend them immediately. Actually dismissal is arare care to happen in our company.
Steps of counselingOur company does not really follow this counseling factor; we do it if it is verymuch needed.Steps that SJIBL take while job analysisActually job analysis in our company is done by the top management. Head officedecides job specification and they take performance analysis.Employment planning and strategic planning process of SJIBLAgain, our company’s employment planning and strategic planning process isnothing but planning from the beginning, then setting the goals, then establishthe goals, implementing it which either leads to recruitment or derecruitment.Factors that affects recruiting efforts of SJIBLThe factors that affect recruiting efforts in our company would be cost,expensiveness and Halo error.
Recruiting sources of SJIBLWell, our company usually prefers external source, but we also take the help ofinternet while advertising. We do prefer external source and Cyberspacerecruitment.Preference of employee referrals/recommendation in SJIBLNo, we do not have any employee referral or recommendation system. Even our topmanagement follows this rule. We take employee only through their selection process.SJIBL’s interview methodOur company’s interview method is just like any other company’s method which iswe sort out CV’s according to qualifications then we give questionnaires for writtentest, after that we take interview (viva).
Steps of selection process in SJIBLNow-a-days our company is recruiting on online basis; CV’s are dropped thereand sort out through their skills, academics, family background, competence,interests of the candidate, qualifications and allow only people who are eligiblefor the specific post. Then we take a written test by the third party (i.e. IBA &BIBM) which is fully fair examined and publishing result. According to the resultwe called for interview and along with it we take a computer test then after all,we altogether count the marks. And according to the merit we select theemployees.CEO’s role in SJIBL’s new employee’s orientationThe general orientation is held on organizational behavior. There not only CEO infact almost all the board members are usually present. They direct new employeesto understand our companys mission, values, vision, policies and procedures,planning program, behavior with other employees, Share Company’s history andcompany’s expectations from them.
SJIBL’s job training methodIn case of our company we have two types of job training method.•On the job method.•Off the job methodOn the job method is employee will be trained during the job time. And in ourcompany it is for one year. And Off the job method is employee will be trained notduring the job hours or during his or her working days. In our company we give thistraining for 20 days before confirmation of the permanent employment post. (Beforethis training employee remains as a trainee)
RecommendationThe SJIBL does follow the basic functions of HRM like staffing, training anddevelopment and maintenance but they are lacking in proper motivating.SJIBL’s recruiting process is quiet satisfactory.SJIBL only focuses on financial and other benefits but they do not give anyjob design, or give any performance standard.SJIBL is very much conscious about the disciplines.Their dismissing action does not have any written segment, they warn theemployee if they do that frequently then they are suspended and theydismissed.SJIBL does not have any counseling process. They do not counsel theemployees.SJIBL does not have any specific job analysis steps.SJIBL’s employment planning and the strategic planning process are up tothe mark.
SJIBL does not have any internal searches, employee referrals andrecruitment alternatives. They only take employees from external searchesand cyberspace recruiting.They do not have any employee referral or recommendation process, theystrictly follow this rule.SJIBL interview methods are adequate to screen out the employees fromthe pool of employees.This company’s selection process is fair enough as examine is done bythird party and they just interview the employee who are eligible for the job.CEO of SJIBL perform his orientation task with care and responsibly.SJIBL’s job training method is sufficient to train their employee for thejob.