This document is a case study on human resource retention strategies at BRAC Bank Limited in Bangladesh. It includes an introduction outlining the objectives to explore BRAC Bank's retention practices and define what employers look for in retaining employees. It also provides an overview of the company including its vision, mission, and strategies. The analysis section examines questions related to defining retention, identifying employee qualities and strategies for retention, outcomes of strategies, costs of retention and reasons for focusing on retention despite new candidates.
This presentation gives the theoretical idea along with research objectives and questions to find out the vast results of the influence of motivation on the performance of employees. This is a research based presentation consist of questionnaire data analysis.
2017 Convene Canada AHP conference presentation on leadership. Some say that leaders make or break organizations and I say, having an organizational leader with a growth mindset is absolutely key to thriving in today's competitive environment.
The motivation theories in this chapter differ in their predictive strength. Here, we (1) review the most established to determine their relevance in explaining turnover, productivity, and other outcomes and(2) assess the predictive power of each.
Need theories. Maslow’s hierarchy, McClelland’s needs, and the two- factor theory focus on needs. None has found widespread support, although McClelland’s is the strongest, particularly regarding the relationship between achievement and productivity. In general, need theories are not very valid explanations of motivation.
Goal-setting theory. Clear and difficult goals lead to higher levels of employee productivity, supporting goal-setting theory’s explanation of this dependent variable
Reinforcement theory. This theory has an impressive record for predicting quality and quantity of work, persistence of effort, absenteeism, tardiness, and accident rates
Equity theory/organizational justice. Equity theory deals with productivity, satisfaction, absence, and turnover variables. However, its strongest legacy is that it provided the spark for research on organizational justice, which has more support in the literature.
Expectancy theory. Expectancy theory offers a powerful explanation of performance variables such as employee productivity, absenteeism, and turnover.
Recognize individual differences. Managers should be sensitive to individual differences.
Allow employees to participate in decisions that affect them. Employees can contribute to setting work goals, choosing their own benefits packages, and solving productivity and quality problems.
Link rewards to performance. Rewards should be contingent on performance, and employees must perceive the link between the two.
Source: Introduction to Work and Organizational Psychology: A European Perspective; Nik Chmiel (Editor)
This presentation focuses on "the two main theories of work motivation: content theories and process theories".
This presentation gives the theoretical idea along with research objectives and questions to find out the vast results of the influence of motivation on the performance of employees. This is a research based presentation consist of questionnaire data analysis.
2017 Convene Canada AHP conference presentation on leadership. Some say that leaders make or break organizations and I say, having an organizational leader with a growth mindset is absolutely key to thriving in today's competitive environment.
The motivation theories in this chapter differ in their predictive strength. Here, we (1) review the most established to determine their relevance in explaining turnover, productivity, and other outcomes and(2) assess the predictive power of each.
Need theories. Maslow’s hierarchy, McClelland’s needs, and the two- factor theory focus on needs. None has found widespread support, although McClelland’s is the strongest, particularly regarding the relationship between achievement and productivity. In general, need theories are not very valid explanations of motivation.
Goal-setting theory. Clear and difficult goals lead to higher levels of employee productivity, supporting goal-setting theory’s explanation of this dependent variable
Reinforcement theory. This theory has an impressive record for predicting quality and quantity of work, persistence of effort, absenteeism, tardiness, and accident rates
Equity theory/organizational justice. Equity theory deals with productivity, satisfaction, absence, and turnover variables. However, its strongest legacy is that it provided the spark for research on organizational justice, which has more support in the literature.
Expectancy theory. Expectancy theory offers a powerful explanation of performance variables such as employee productivity, absenteeism, and turnover.
Recognize individual differences. Managers should be sensitive to individual differences.
Allow employees to participate in decisions that affect them. Employees can contribute to setting work goals, choosing their own benefits packages, and solving productivity and quality problems.
Link rewards to performance. Rewards should be contingent on performance, and employees must perceive the link between the two.
Source: Introduction to Work and Organizational Psychology: A European Perspective; Nik Chmiel (Editor)
This presentation focuses on "the two main theories of work motivation: content theories and process theories".
A bunch of ordinary people, delivering an extraordinary performance is termed as a high performing team. Creating a high performing team though, seems like a mammoth task – perhaps because such teams are very few and far between.
While there is no single silver bullet to construct such a team, one big measure that builds such synergy in a team is a culture of “No Surprises”. So, how do we create such a No-Surprises culture in an organization?
Human Resources Management (HRM) Value Chain Processes, Organizational Cultur...Charles Cotter, PhD
Human Resources Management (HRM) Processes, Organizational Culture and Organizational Change Management training programme, facilitated by Dr Charles Cotter, July 2021
Way before anyone began using the term BIG to describe data, Human Resources professionals had been using HR Metrics. So why is Big Data such a Big Deal? In this session, we will discuss HR Metrics, Big Data and HR Analytics.
We’ll uncover the real reasons you really need HR Analytics and dissect a few myths that could be holding you back from making the shift. We will then take a tactical approach diving into some practical tips and best practices on how you can get your organization up and running with HR analytics.
A storytelling session, exemplified through data, will cover everything from a talent strategy overhaul, to implementing emerging technologies, and how to tenaciously keep shaking things up - even when things don't go as planned.
Practical tips to start using predictive HR analytics in your organization.
Creating a distinction between HR Metrics, Big Data and Analytics.
Big Data progression and how this can affect your department.
Employee Value Propositions & Employer BrandingEngage Me
We answer the question, what is an EVP and Employer Brand? Outline your value offering to current and prospective employees and market your culture, to attract the best and right talent to your business.
Gallup reviewed data from 263 research studies across 192 organizations to determine the organizational outcomes of employee engagement. The results showed that having engaged employees consistently results in strong business benefit in all 9 indicators studied: customer loyalty/engagement, profitability, productivity, turnover, safety incidents, shrinkage, absenteeism, patient safety incidents, and quality (defects).
No more, 'I TOLD YOU' can work in business world. One needs to develop persuasion and reciprocity based influencing capabilities. Describing how 'Cohen and Bradford' Model can help immensely in this regard
This power point present the research finding of Human Resources Audit. It examining the policies, documentation, systems, and practices with respect to an organization’s HR function. It reveals the strength and weaknesses in the human resources system, and all issues, which need resolution.
Special thanks to all the people who made and released these awesome resources for free:
Presentation template by SlidesCarnival
Photographs by Unsplash
A bunch of ordinary people, delivering an extraordinary performance is termed as a high performing team. Creating a high performing team though, seems like a mammoth task – perhaps because such teams are very few and far between.
While there is no single silver bullet to construct such a team, one big measure that builds such synergy in a team is a culture of “No Surprises”. So, how do we create such a No-Surprises culture in an organization?
Human Resources Management (HRM) Value Chain Processes, Organizational Cultur...Charles Cotter, PhD
Human Resources Management (HRM) Processes, Organizational Culture and Organizational Change Management training programme, facilitated by Dr Charles Cotter, July 2021
Way before anyone began using the term BIG to describe data, Human Resources professionals had been using HR Metrics. So why is Big Data such a Big Deal? In this session, we will discuss HR Metrics, Big Data and HR Analytics.
We’ll uncover the real reasons you really need HR Analytics and dissect a few myths that could be holding you back from making the shift. We will then take a tactical approach diving into some practical tips and best practices on how you can get your organization up and running with HR analytics.
A storytelling session, exemplified through data, will cover everything from a talent strategy overhaul, to implementing emerging technologies, and how to tenaciously keep shaking things up - even when things don't go as planned.
Practical tips to start using predictive HR analytics in your organization.
Creating a distinction between HR Metrics, Big Data and Analytics.
Big Data progression and how this can affect your department.
Employee Value Propositions & Employer BrandingEngage Me
We answer the question, what is an EVP and Employer Brand? Outline your value offering to current and prospective employees and market your culture, to attract the best and right talent to your business.
Gallup reviewed data from 263 research studies across 192 organizations to determine the organizational outcomes of employee engagement. The results showed that having engaged employees consistently results in strong business benefit in all 9 indicators studied: customer loyalty/engagement, profitability, productivity, turnover, safety incidents, shrinkage, absenteeism, patient safety incidents, and quality (defects).
No more, 'I TOLD YOU' can work in business world. One needs to develop persuasion and reciprocity based influencing capabilities. Describing how 'Cohen and Bradford' Model can help immensely in this regard
This power point present the research finding of Human Resources Audit. It examining the policies, documentation, systems, and practices with respect to an organization’s HR function. It reveals the strength and weaknesses in the human resources system, and all issues, which need resolution.
Special thanks to all the people who made and released these awesome resources for free:
Presentation template by SlidesCarnival
Photographs by Unsplash
Commercial Bank of Ceylon PLC(HR Planning and Strategies Report)Md. Tanzirul Amin
Throughout the whole report, functions of Human Resource Management Dept. of Commercial Bank of Ceylon PLC have been discussed such as Organizational Culture, Recruitment, Selection Process, Training & Development, Performance evaluations and Benefits offered. How the HR Dept. helps the bank to achieve its strategic goals has also been discussed. In today’s world, to achieve a sustainable development, the bank should come out of its traditional HR Practices and undertake more flexible and beneficial steps to retain employees in the long-run; and also use SMART tools to define the standards, goals and positive growth of the whole organization and its stakeholders.
The Human Resource Department of Commercial Bank of Ceylon Ltd. is responsible for developing a competent workforce for the organization’s activities. To do so, it has a strong and organized structure divided into different units, which are individually responsible for recruitment, selection, and appointment, formulation of policies, publication of reports, conducting orientation, training, and appraisal, compensation of employees, eradication of injustice or violation of rights in the workplace etc
Through findings, it is recommended that the salary structure should be more competitive, gratuity for every performing year should be increased in order to motivate employees in long-term, retirement age should be increased from 57 to 59 like the other banks in the same industry, efficient manpower should be recruited to reduce work pressure.
INTERNSHIP REPORT ON MUSLIM COMMERCIAL BANK.
Submitted in partial requirement for the degree of Bachelor of Business Administration Department of Management Sciences
Faculty of Commerce, Economics & Management Sciences
ISRA UNIVERSITY, Hyderabad Spring 2017
This is a formal group presentation of Human Resource Planning (HRP) Practices in Prime Bank Limited. It was prepared by especially me, Afsana, Methela, Shahriar and Monir. This is a very informative and useful PowerPoint slide for those who need help to create HRP Practices in any bank and its HR related activities. It contains most of the details required for HR Planning, HR Recruiting and HR Training. Feel free to use this slide for your presentation and research. Thank you.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Scope Of Macroeconomics introduction and basic theories
Exploring employee retention strategies of BRAC bank ltd.
1. Human Resource Management
(HRM-502)
Assignment On
“Exploring Human Resource Retention Strategies:
A case study on BRAC Bank Limited.”
Supervised By
Abu Md. Abdullah
Assistant Professor
Faculty of Business Administration
Eastern University
Prepared By
Kishuwara Binta Kabir
ID: 191600007
Date of Submission: 3rd
May, 2019
3. Table of Content
1 Introduction 1-2
1.1 Introduction: 1
1.2 Objectives: 2
1.2.1 Broad objectives: 2
1.2.2 Specific Objectives: 2
1.3 Methodology: 2
1.3.1 Methods: 2
1.3.2 Sample Size: 2
1.3.3 Primary Sources: 2
1.3.4 Secondary Sources: 2
1.4 Scope & Limitation: 2
1.4.1 Scopes of the study: 2
1.4.2 Limitations of the study: 2
2 Company Overview 3-5
2.1 Company Overview 3
2.1.1 Company Profile 3
2.1.2 Vision 3
2.1.3 Mission 3
2.1.4 Head Office Location 3
2.1.5 Logo 3
2.2 Analysis 4
2.2.1 How do you define Employee Retention? 4
2.2.2 What qualities you look for in an employee for retention? 4
2.2.3 What strategies or methods you follow to retain your employees? 4
2.2.4 Which strategies work best to retain employees? Why? 4
2.2.5 What is the outcome of these applied retention strategies? 4
2.2.6 What are the costs of employee retention? 4
2.2.7 Why your company go for employee retention despite of having new
candidates available in the market? 4
2.2.8 Suppose, you have identified an employee who is efficient but wants to
leave, how will you retain that employee? 4
2.2.9 What is the turnover rate of your firm? Do you think it is satisfactory?
Why or why not? How will you reduce it? 5
2.2.10 Why an efficient employee will stay with you in the long run? 5
6. 1. Introduction:
“Great vision without great people is irrelevant”. Human resource is every organization's
soul and soulless body is just a skeleton. Human resource is the real strength of any
organization and its business and the primary objective must be to keep them happy.
Relationship between employee and employer is interdependent across industries. The
employee works for the firm to earn profit and the employer pays compensate them with
salary in return. So, the relationship is mutually advantageous for both sides. Such
connection flourishes if the employee stays with the business for a long time, and the
employer is responsible towards the workforce in all aspects.
The key challenge, employers are now is employee turnover. Problem is not the rate of
employee leaving the firm is high, but retaining the well performing staff within the firm
for longer period of time.
Now-a-days as Bangladesh applicant population market, has more available applicants
than job offers, so employers don’t really go for employee retention. Because they believe
if one goes there are plenty of applicants that can be hired even at lower compensation
package. Even though repeated recruitment procedures cause excess cost, still they are
willing to bear the cost. Banking industry is not out of that believe.
On the other hand, applicants are so desperate to get the job that they are also willing to
work in an organization where they are undervalued. Even, employees often don’t really
negotiate with the organization about bad working environment or bad compensation
package as the job market is average. 57% of the applicants are employed only.
Existing employees are always willing to get career growth within the organization. But,
often organizations besides banks & IT departments don’t really offer for training and skills
development within the organization. So, employees go for outside trainings and enrich
their skills. Even after so much of effort if they don’t see any growth in their job, they
switch jobs within or outside the industry. It often creates an imbalance situation for the
unemployed population, as firm prefers to have employees with experience rather than a
fresher as an employee to save the cost of orienting and training the new employees.
The study gives us a current scenario of the job market which will help us to define what
sort of retention strategies each industry follows and what retention actually mean to them,
how employer prefer to retain their employees. The study will also help us to identify the
qualities an employer looks in an employee for retention and adapt those qualities in
personal and professional manner.
7. 1.1 Objectives:
1.1.1 Broad objectives:
Exploring Human Resource Retention Strategies of BRAC Bank Limited.
1.1.2 Specific Objectives:
Exploring the retention practices of BRAC Bank Limited.
Identifying which retention practice worked best.
Defining why a firm go for employee retention.
Defining what an employer looks for in an employee for retention.
Getting an overview of current job market.
1.2 Methodology:
1.2.1 Methods:
Interview
Questionnaire
1.2.2 Sample Size:
1 Branch Manager;
4 Officers;
2 Other banking officers.
1.2.3 Primary Sources:
Face to face conversation with bank officers.
Getting answers from bank officers & branch manager.
1.2.4 Secondary Sources:
Bank’s official website
Internet
Conversation with bank officers over the phone.
Group discussion among the team mate.
1.3 Scope & Limitation:
1.3.1 Scopes of the study:
Chance to learn about current job market.
Chance to learn about current retention practice of banking industries.
1.3.2 Limitations of the study:
Lack of willingness to cooperate of bank officers.
Lack of knowledge about HR practices.
Lack of chances to study the whole market.
9. 2.1 Company Overview:
2.1.1 Company Profile:
BRAC Bank Limited started its operations in 2001 with the goal of offering banking
solutions to small and medium-sized enterprises. Inspired by its parent organization
BRAC, the world's largest NGO, BRAC Bank Ltd. launched small- and medium-sized
ticket loans to SMEs, specifically to put the grass-roots businesses within the framework
of the formal banking service.
2.1.2 Vision:
Building a profitable and socially responsible financial institution focused on market
and business with growth potential, thereby assisting BRAC and its stakeholders to build
a just, enlightened, healthy democratic and poverty free Bangladesh.
2.1.3 Mission:
Sustainable growth in Small & Medium Enterprise sector;
Continuous low-cost deposit Growth with controlled growth in retail assets;
Corporate Assets to be funded through self-liability mobilization;
Growth in Assets through syndications and investment in faster growing sectors;
Continuous endeavor to increase non-funded income;
Keep our debt charges at 2% to maintain a steady profitable growth
Achieve efficient synergies between the bank’s branches, SME unit offices and
BRAC field offices for delivery of remittance and the bank’s other products and
services;
Manage various lines of business in a full controlled environment with no
compromise compliance and on service quality;
Keep a diverse, far flung team fully motivated and driven towards materializing
the bank’s vision into reality
2.1.4 Head Office Location:
BRAC Bank Limited,
Anik Tower,
220/B, Tejgaon Gulshan Link Road
Tejgaon, Dhaka 1208
2.1.5 Logo:
10. 2.2 Analysis:
2.2.1 How do you define Employee Retention?
The retention of staff is the organizational goal to keep the talented employees within
the organization and reduce employee turnover by encouraging a positive working
atmosphere that promotes participation, appreciates staffs, provides competitive salaries &
benefits and a good work-life balance.
2.2.2 What qualities you look for in an employee for retention?
BRAC Bank Ltd. mainly look on to employee’s growth, diversity, potentiality,
communication skill, for retention.
2.2.3 What strategies or methods you follow to retain your employees?
There is no specific strategy followed by the BRAC Bank Ltd. They prefer to hire
the right person for the job in return of competitive salary & compensation package.
Besides, their managers are leaders, not bosses who encourage their employees’
engagements in work more and more.
2.2.4 Which strategies work best to retain employees? Why?
Basically, the employees of BRAC Bank Ltd. mainly prefer to get proper appreciation
for their jobs, competitive salaries, and engagements in more creative works or diverse
works. So, the managers of the BRAC Bank Ltd. tries to appreciate the employees, give
them proper work friendly environment, train the employees with potentiality, and
compensate them with proper competitive returns.
2.2.5 What is the outcome of these applied retention strategies?
As an outcome of all the retention strategies that have been applied so far, employees
are pretty happy to work in bank, feels like a home, and wants to work with the bank in
long run, more over that don’t get stressed much while there is any distressed situation.
2.2.6 What are the costs of employee retention?
Basically, in order to retain the employees, BRAC Bank Ltd. goes through the cost
of training the employees, the costs that occurs due to absent of the employee with
potentiality, the entertainment costs etc.
2.2.7 Why your company go for employee retention despite of having new
candidates available in the market?
BRAC Bank Ltd. don’t go for the employee retention who has been working with
the bank more than 10 years because, if an employee is working for the bank more than
5-7 years, it means he/ she is not making any growth, besides BRAC Bank Ltd. always
encourage freshers to work with.
2.2.8 Suppose, you have identified an employee who is efficient but wants to leave,
how will you retain that employee?
BRAC Bank Ltd. don’t really go for retaining the employees working more than 5-
7 years, in order to retain an employee with efficiency, BRAC Bank Ltd basically tries to
find out what is the reason of his/ her leaving and offer a negotiation over compensations
he/ she is going to get after the leave.
11. 2.2.9 What is the turnover rate of your firm? Do you think it is satisfactory? Why
or why not? How will you reduce it?
Considering employees of every aspects, the current employee turnover rate is 15%.
At a field level its not satisfactory because, employees are not pretty willing to work in
field level which usually make them leave the jobs. Higher compensation package &
training may help to reduce the rate.
2.2.10 Why an efficient employee will stay with you in the long run?
BRAC Bank Ltd. always encourage employees’ career growth, diversity, training,
competitive compensation package and a proper work friendly environment, which attracts
the efficient employees also potential employees to stay with the bank and select bank as a
long-term employability.
13. 3.1 Findings:
Comparatively high compensation plans.
Friendly work environment.
Lack of willingness to retain employees.
Bearing the cost of recruitment again & again.
3.2 Recommendation:
Try to hold on to efficient employees.
Holding efficient employees will reduce the cost of recruitment.
3.3 Conclusion:
It's the nightmare of every manager: one of the best employees resigns out of the blue. In
addition to manager’s daily responsibilities managers have a number of challenges right
away. A manager not only have to find a substitute for a talented team member but manager
also must consider how this departure affects the rest of the employees. Because every time
people walk out of the door, people notice. Some people even begin to wonder if they
should also be looking for a new job. That is why the retention of the employees and the
satisfaction of employees should be high on every organization's priority list and creating
efficient retention strategies to cut sales should be one of the most important managers '
jobs.
3.4 Reference:
Nazrul Islam
Branch Manager,
Kalabagan Branch,
BRAC Bank Limited,
Bay Park Heights(2nd
floor),
Road no. 9, Dhanmondi R/A,
Dhaka-1205.