The rate at which employees leave a company and are replaced by new Employees. One of the critically challenging issues in business world. Estimated probability that employees will stay or leave the organization. May triggered by - quits, attrition, exits, mobility, migration, succession. Obstacles toward achieving organizational objectives. Delay in innovation process & weak service consistency. Increasing pressure for the current employees in organization & Reflects poor organizational image. Overall bad impact on organizational performance & effectiveness.
This presentation seeks to understand all possible factors behind Employee Attrition in the Philippine Corporate setting with challenges to HR departments to be innovative in addressing this problem.
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project
This presentation seeks to understand all possible factors behind Employee Attrition in the Philippine Corporate setting with challenges to HR departments to be innovative in addressing this problem.
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project
Understand and Differentiate between strategic recruitment and selection.
Identify the dual goals of recruiting.
Comprehend recruitment process from organizational as well as individual perspective.
Identify what strategic decisions are involved in recruiting.
Explain the major recruitment methods and analyze their advantages and disadvantages.
Identify the basic selection criteria.
Design and administer an effective selection process.
Evaluate the three methods e.g., information gathering, tests and interviewing used in employee selection.
Appreciate varied contemporary interviewing techniques used by interviewers.
Design interview form and evaluation matrix.
Understand Human Resource Planning (HRP) and purpose of HRP.
Identify the relationship between strategy and HRP.
Identify the steps of HR planning process.
Describe the approaches to understand the jobs.
Discuss the phases of job analysis, including what it is and how it’s used.
Design model for forecasting HR requirements and employee requisition form.
Develop job descriptions , including summaries and job functions, using the Internet and traditional methods by using Job analysis questionnaire.
Develop job specifications using the Internet as well as your judgment.
Explain job analysis in a “jobless” world, including what it means and how it’s done in practice.
This Presentation cover all relative aspects of Human Resource Planning | HR Demand Forecasting & HR Supply Forecasting along with detail description of Recruitment & Selection as per the Syllabus of AKTU MBA Course.
Employee engagement is a property of the relationship between an organization and its employees. An "engaged employee" is defined as one who is fully absorbed by and enthusiastic about their work and so takes positive action to further the organization's reputation and interests.
Categories in employee engagement
Engaged
Not engaged
Actively disengaged
Engaged-
•The employee works in passion
•Highly motivated and ready to go extra mile
•Focused and keen to take up challenges
•Problem-solving attitude
Not engaged-
•They usually step walking through the day
•Zero energy and passion in the given work
•Putting in hours instead of energy
•Actively undermine coworkers and sabotage projects
Actively disengaged-
•Always complaint about the given tasks
•Try to demoralize colleagues also
•Lack of enthusiasm
•Failure to take responsibility
Aon Hewitt’s Engagement Model-
Aon Hewitt’s employee engagement research represents a variety of companies, industries, and geographic regions throughout countries in Asia-Pacific, Europe, Latin America, and North America. Research has shown that there are 21 areas, shown in the following diagram, known as “Engagement Drivers,” that can potentially drive people’s engagement.The Model goes beyond measuring people’s satisfaction with each of these drivers. The model prioritizes the areas for improvement based on their potential impact on engagement and, therefore, business performance.
http://www.gallup.com/topic/employee_engagement.aspx
Influence Of Technology On Human Resource ManagementNavitha Pereira
Technology has transformed our lives and the way we communicate, how we learn, how we work and spend free time, in essence-it has more or less changed every aspect of human society one can think of. Undoubtedly it also affected organizations' employees and their workplaces in job design, conditions of work and other (numerous) ways. Today’s information technology has shown continuous development. Technology and HRM have a wide range of impact upon each other and therefore human resource professional should be eligible to adopt technologies that allow the re-engineering of the HR action, be prepared to maintain organizationally and work project changes caused by technology, and be able to maintain a proper managerial climate for innovative and knowledge-based organizations. HRM should be focused on the strategic objective and these strategic objectives are preparing information technology strategies to plan to fulfill the human resources strategies plan in the field of technology.
Reduce employee turnover - Help your employees quit their day jobPhilip Williams
In this presentation I'm going to take you through a key leadership approach that allows respected leaders like Tony Hsieh and Gary Vaynerchuk to reduce employee turnover.
Understand and Differentiate between strategic recruitment and selection.
Identify the dual goals of recruiting.
Comprehend recruitment process from organizational as well as individual perspective.
Identify what strategic decisions are involved in recruiting.
Explain the major recruitment methods and analyze their advantages and disadvantages.
Identify the basic selection criteria.
Design and administer an effective selection process.
Evaluate the three methods e.g., information gathering, tests and interviewing used in employee selection.
Appreciate varied contemporary interviewing techniques used by interviewers.
Design interview form and evaluation matrix.
Understand Human Resource Planning (HRP) and purpose of HRP.
Identify the relationship between strategy and HRP.
Identify the steps of HR planning process.
Describe the approaches to understand the jobs.
Discuss the phases of job analysis, including what it is and how it’s used.
Design model for forecasting HR requirements and employee requisition form.
Develop job descriptions , including summaries and job functions, using the Internet and traditional methods by using Job analysis questionnaire.
Develop job specifications using the Internet as well as your judgment.
Explain job analysis in a “jobless” world, including what it means and how it’s done in practice.
This Presentation cover all relative aspects of Human Resource Planning | HR Demand Forecasting & HR Supply Forecasting along with detail description of Recruitment & Selection as per the Syllabus of AKTU MBA Course.
Employee engagement is a property of the relationship between an organization and its employees. An "engaged employee" is defined as one who is fully absorbed by and enthusiastic about their work and so takes positive action to further the organization's reputation and interests.
Categories in employee engagement
Engaged
Not engaged
Actively disengaged
Engaged-
•The employee works in passion
•Highly motivated and ready to go extra mile
•Focused and keen to take up challenges
•Problem-solving attitude
Not engaged-
•They usually step walking through the day
•Zero energy and passion in the given work
•Putting in hours instead of energy
•Actively undermine coworkers and sabotage projects
Actively disengaged-
•Always complaint about the given tasks
•Try to demoralize colleagues also
•Lack of enthusiasm
•Failure to take responsibility
Aon Hewitt’s Engagement Model-
Aon Hewitt’s employee engagement research represents a variety of companies, industries, and geographic regions throughout countries in Asia-Pacific, Europe, Latin America, and North America. Research has shown that there are 21 areas, shown in the following diagram, known as “Engagement Drivers,” that can potentially drive people’s engagement.The Model goes beyond measuring people’s satisfaction with each of these drivers. The model prioritizes the areas for improvement based on their potential impact on engagement and, therefore, business performance.
http://www.gallup.com/topic/employee_engagement.aspx
Influence Of Technology On Human Resource ManagementNavitha Pereira
Technology has transformed our lives and the way we communicate, how we learn, how we work and spend free time, in essence-it has more or less changed every aspect of human society one can think of. Undoubtedly it also affected organizations' employees and their workplaces in job design, conditions of work and other (numerous) ways. Today’s information technology has shown continuous development. Technology and HRM have a wide range of impact upon each other and therefore human resource professional should be eligible to adopt technologies that allow the re-engineering of the HR action, be prepared to maintain organizationally and work project changes caused by technology, and be able to maintain a proper managerial climate for innovative and knowledge-based organizations. HRM should be focused on the strategic objective and these strategic objectives are preparing information technology strategies to plan to fulfill the human resources strategies plan in the field of technology.
Reduce employee turnover - Help your employees quit their day jobPhilip Williams
In this presentation I'm going to take you through a key leadership approach that allows respected leaders like Tony Hsieh and Gary Vaynerchuk to reduce employee turnover.
5 Employee Relations Metrics you Should be Tracking & WhyDovetail Software
If tracked correctly, ER metrics can help determine the root cause of workforce trends in your organization. In this webinar, human capital strategy consultant and 20-year HR veteran Cathy Missildine-Martin will reveal five critical ER metrics you should be tracking and why.
Join us to learn:
* Why ER metrics are just as important to HR analytics as performance metrics
* How to use ER metrics to drive corporate policy change
* What ER metrics you should be tracking and what they reveal
* How to use technology to track, measure and report on ER metrics
This must-attend webinar will help ensure that you’re including the metrics necessary to paint a full picture of what’s going on in your organization’s workforce and have the insight you need to build an effective human capital strategy.
A human flow in an organization is marked by various stages of acceleration, transfers and finally exit. The presentation details these crucial processes.
This is a project on how employee turnover occurs and how do we make sure that the turnover of employees reduces and the banking industry retains its employees by adopting certain measures.
This presentation examines the reasons for staff turnover, identifies the costs to the business of this turnover and gives practical tips to maximize staff retention.
Employee retention refers to the ability of an organization to retain its employees. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). However, many consider employee retention as relating to the efforts by which employers attempt to retain employees in their workforce. In this sense, retention becomes the strategies rather than the outcome.
Modern Performance Management Whitepaper - PaylocityRyan Detillier
Today’s engaged workforce expects constant, real-time feedback on their performance. Is your company equipped for a new way of managing performance? Keep your employees engaged and understand how performance management can improve retention. Paylocity’s new whitepaper identifies new trends in performance discussions and tools. In this whitepaper you will find:
• Where performance management has come from and the direction in which it is heading
• Why today’s trends are essential to employee engagement
• Tips on how to get started on modernizing your performance management processes and systems
Human Resource Information System: A study on Telecommunication Industry of B...Masum Hussain
In today’s organizations Human Resource is considered as one of the key resources of business organizations. The transaction processing layer of information system (IS) in human resource function deals with routine activities like attendance recording and payroll calculations. The operational level activities also include maintaining the employee records which is used as a basis for strategic layers. With the growing importance of human resource management and increasing size of the organizations, maintenance of employee related data and generating appropriate reports are the crucial aspects of any organization. The Human Resource Information System (HRIS) is a collection of men, tools, procedures and software to perform various business tasks at various levels in the organization. Many organizations have separate MIS departments which are involved in maintaining records, performing transactions, report generations and consolidation of the important information which will be supplied to the various levels of the management. MIS has three basic levels: operational, middle management and top management where the information is passed from bottom to top. This report is an attempt to design an information system for Bangladesh telecommunication industry, which involves attendance capturing & recording system which will be used in monitoring the staff, control over the irregularities and reporting to the top management and show how it is useful in decision making. This paper is an attempt to highlights the role of information systems in Human Resource Management and show how it helps in taking management decisions related to management function especially for the top management.
Today, the world has undergone massive changes: the Internet bubble has come and gone, and emerging countries such as China and India have become prominent global users and providers of ICT equipment and services. Struggling to emerge from the financial crisis, developed economies are striving to return to higher levels of growth and competitiveness while fighting stubbornly high unemployment rates, especially among their youth. Both emerging and developed economies are focusing on innovation, competing globally for talent, resources, and market shares. Information flows and networks have spread across borders in ways that could not be imagined before the onset of the Internet, the global adoption of mobile telephony and social networks, and the rapid growth of broadband. Business models have been redefined, the workplace has been redesigned and entire functions of society (education, health, security, privacy) are being rethought. Apart from these HRIS has various advantages and the most crucial is the employee retention as employees as themselves crucial for the organizations; it is also ratified by all that an HRIS blunt the edge of staff attrition by providing HR officers with the information they need.
Managing team and organizational conflictMasum Hussain
In our culture, we reflexively tend to think of the term “conflict” in the negative. When we discuss conflict in the business world, we speak of it (often unwittingly) as a diminishing force on productivity, an ill that only compounds the difficulties of a job, and an element that needs expunging if companies are to achieve their goals. Normally seen as the byproduct of a “squeaky wheel” rather than a natural derivative of business itself, conflict is a force that causes short-term anxieties, and many view “fixing” ongoing conflict as synonymous with “eliminating” it.It is commonplace for organizations today to work in teams. Whether they be leader-driven teams or self-directed teams; the hope is that productivity, creativity, and results will be greater in a team environment. While this is a proven approach, any time you bring together people from differing backgrounds and experiences, it is inevitable that conflict will occur.
Every organization encounters conflicts on a daily basis. The conflicts cannot be avoided, but it is possible to manage them in a way that we recognize them on time. It is necessary to continuously track the organizational signals which point to their existence. If we do not react duly, this can lead to the situation that the conflict itself manages the organization. One of the more important determinants of productivity, efficiency and performance, and finally job contentment is also the conflict as an independent variable of organizational behavior. By systematic research of organizational behavior we want to make a positive influence on dependent variables, but first we have to understand and get a good insight into individual elements of organizational behavior. By this paper we want to brighten the meaning of conflict on the organization, the conflict process and possible conflict management styles. We will show the relationship between the level of conflict and the impact on the organizational performance.
Managing team and organizational conflictMasum Hussain
In our culture, we reflexively tend to think of the term “conflict” in the negative. When we discuss conflict in the business world, we speak of it (often unwittingly) as a diminishing force on productivity, an ill that only compounds the difficulties of a job, and an element that needs expunging if companies are to achieve their goals. Normally seen as the byproduct of a “squeaky wheel” rather than a natural derivative of business itself, conflict is a force that causes short-term anxieties, and many view “fixing” ongoing conflict as synonymous with “eliminating” it.It is commonplace for organizations today to work in teams. Whether they be leader-driven teams or self-directed teams; the hope is that productivity, creativity, and results will be greater in a team environment. While this is a proven approach, any time you bring together people from differing backgrounds and experiences, it is inevitable that conflict will occur.
Every organization encounters conflicts on a daily basis. The conflicts cannot be avoided, but it is possible to manage them in a way that we recognize them on time. It is necessary to continuously track the organizational signals which point to their existence. If we do not react duly, this can lead to the situation that the conflict itself manages the organization. One of the more important determinants of productivity, efficiency and performance, and finally job contentment is also the conflict as an independent variable of organizational behavior. By systematic research of organizational behavior we want to make a positive influence on dependent variables, but first we have to understand and get a good insight into individual elements of organizational behavior. By this paper we want to brighten the meaning of conflict on the organization, the conflict process and possible conflict management styles. We will show the relationship between the level of conflict and the impact on the organizational performance.
Organizational change in transition periodMasum Hussain
As the Greek philosopher Heraclitus (525 – 475BC) pointed out: change alone is unchanging. Nowhere is this truer than in corporate North America. Globalization; quantum leaps in technology; mergers and acquisitions; shifting markets and client demands; and, significant changes in the workforce make changing to survive a strategic imperative. All organizations need to have a greater reach, be in more places, be aware of regional and cultural differences, and integrate coherent strategies for different markets and communities. (Kanter, 1999) Failure to change, to change rapidly enough, or to make the right changes, has turned corporate giants into subsidiaries, seemingly overnight. With change having been a constant for over 2500 years, why are businesses still so bad at managing it? Why do so many change initiatives wither and die leaving only confusion and mangled processes in their wake? This paper explores some of the reasons corporate change programs fail and offers some ideas as to how organizations institutionalize change to become a constantly evolving success story.
Influence of Work-life balance in employee’s performanceMasum Hussain
Despite the popularity of work-life conflict as a topic of academic and practitioner debate, and the mounting prevalence of work-life balance practices in organizations around the world, research on the organizational effects of such practices is not well integrated. Competing demands between work and home have assumed increased relevance for employees in recent years, due in large part to demographic and workplace changes such as rising numbers of women in the labour force, an ageing population, longer working hours, and more sophisticated communications technology enabling near constant contact with the workplace. In response to these changes and the conflict they generate among the multiple roles that individuals occupy, organizations are increasingly pressured to implement work practices intended to facilitate employees’ efforts to fulfil both their employment- related and their personal responsibilities. While there is no one accepted definition of what constitutes a work-life balance practice, the term usually refers to one of the following: organizational support for dependent care, flexible work options, and family or personal leave.
Influence of Work-life balance in employee’s performanceMasum Hussain
Work–life balance is a concept including proper prioritizing between "work" (career and ambition) and "lifestyle" (health, pleasure, leisure, family and spiritual development/meditation. This is related to the idea of lifestyles choice. The work–leisure dichotomy was invented in the mid-1801s. Paul Krassner remarked that anthropologists use a definition of happiness that is to have as little separation as possible "between your work and your play". The expression "work–life balance" was first used in the United Kingdom in the late 1970s to describe the balance between an individual's work and personal life. In the United States this phrase was first used in 1986 The business case for work-life balance practices, as espoused by many organizations, rests on attracting better applicants and reducing work-life conflict among existing employees in order to enhance organizational performance. This review of the literature provides some evidence for the claim regarding recruitment, but there is insufficient evidence to support the notion that work-life practices enhance performance by means of reduced work-life conflict. We suggest that the business case may therefore need to be modified to reflect the number of additional routes by which work-life balance practices can influence organizational performance, including enhanced social exchange processes, increased cost savings, improved productivity, and reduced turnover. The impact of these processes may, however, be moderated by a number of factors, including national context, job level, and managerial support.
Influences of Poter’s five forces model in an industryMasum Hussain
Porter’s Five Forces model is a powerful management tool for analyzing the current industry profitability and attractiveness by using the outside-in perspective. Within the last decades, the model has attracted some criticism because of the developing Internet economy. Due to an increasing significance of Digitalization, Globalization and Deregulation, the industry structure of the ‘Old Economy’ changed fundamentally. The ‘New Economy’ is not comparable with the ‘Old Economy’, which is the basis of the Five Forces model. Moreover the last decades have shown that Information Technology became more and more important. Nowadays Technology is one of the most important drivers for change and not only important for the implementation of change. Today new technology is one of the most important drivers for change. Furthermore Porter also couldn’t take the growing significance of ‘Government Deregulation’ into account. In 1979 the government was able to regulate the market by defining and enforcing “property rights and the rules of competition”. In the past 20 years, governmental influence on industries decreased steadily. Therefore the most of the concerned industries (airlines, communication, or banking industry) were able and constrained to search for alternatives and to structure their business in a new way.
The purpose of business is to make money. However, the profit motive is sometimes viewed as less than virtuous because it emphasizes self-interest. Nevertheless, self-interest is not the same as selfishness, which emphasizes one's own interests at others' expense. Self interest is simply a concern for financial reward and is arguably necessary if society is to be maximally productive and efficiently allocate its resources. Business is an inseparable and embedded part of the society. In addition to its economic role in society, business also has several other roles and responsibilities towards society viz. responsible conduct of business activities while pursuing economic gains; the social and environmental responsibilities of the business towards its stakeholders; and business’s contributions that would benefit the society at large. Companies around the globe are recognizing the importance of engaging in Corporate Social Responsibility (CSR) that is crucial to their survival and growth. It is evident that when an organization integrates appropriate CSR practices in its strategy that embed the societal and environmental concerns, these practices undoubtedly bring tangible benefits to the business along with a sustainable competitive advantage.
Industrial relations are the relationship between management and employees or among employees and their organization. Industrial relation deal with either the relationships between the state and the employers and the workers organization or the relation between the occupational organizations themselves. The ILO uses the expression to denote such matters as freedom of association and the protection of the right to organize, the application of the principles of the right to organize, and the right of collective bargaining, collective agreements, conciliation and arbitration and machinery for cooperation between the authorities and the occupational organizations at various levels of the economy.
The term Industrial Relations refers to relationship between Management and Labor or among Employees and their organizations that characterize or grow out of employment. Theoretically speaking, there are two parties in the employment relationship labor and management. Both parties need to work in a spirit of cooperation, adjustment and accommodation. In their own mutual interest certain rules for co-existence are formed and adhered to. Over the years, the State has also come to play a major role in Industrial Relations one, as and initiator of policies and the other, as an employer by setting up an extremely large public sector.
Importance of information system in raising public awareness about domestic v...Masum Hussain
Across the globe, information system tools have helped fuel social movements. Information system has been shown to strengthen social actors’ ability to challenge and change power relations in society, providing platforms for debate, reflection, influencing and mobilizing people. To better understand the potential of information system to engage especially young people in efforts to prevent domestic violence the Partners for Prevention regional project, Engaging Young Men Through Information system for the Prevention of Domestic violence’ which supported information system awareness campaigns designed to raise awareness and motivate young people to take action to prevent domestic violence has revealed practical lessons from three awareness campaigns on the effective use of information system tools for violence protection.
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the Technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
Importance of information system in raising public awareness about domestic v...Masum Hussain
Across the globe, information system tools have helped fuel social movements. Information system has been shown to strengthen social actors’ ability to challenge and change power
relations in society, providing platforms for debate, reflection, influencing and mobilizing people. To better understand the potential of information system to engage especially young
people in efforts to prevent domestic violence the Partners for Prevention regional project, Engaging Young Men Through Information system for the Prevention of Domestic violence’
which supported information system awareness campaigns designed to raise awareness and motivate young people to take action to prevent domestic violence has revealed practical
lessons from three awareness campaigns on the effective use of information system tools for violence protection.
Role of compensation practices on employees’ motivation: A study on Prime Ban...Masum Hussain
Workforce today is more expressive about their needs. Employees desire the best of everything competitive salaries, comfortable & inspirational lifestyles, job security, career enhancement options, work-life balance, and so on. Competition for talent is ever increasing and organizations need to have well-defined philosophies and strategies to help them develop innovative ways of tapping intrinsic motivation of employees by engaging their hearts and minds. The focus should be given on how managers are able to implement these types of motivation into their specific work place. This will show how motivation is important to all industries, and how it can change and impact the amount sales a bank performs. Motivated employees will in turn create a successful bank.
Development of internet technology in BangladeshMasum Hussain
Bangladesh is a developing country of South Asia with a huge population of 160 million living within a small geographical boundary of 1,47,570 square kilometers. Bangladesh is popularly known as one of the most densely populated countries of the world where the density rate is 1015 per sq. km. So it's a great challenge for the Bangladesh government to feed up the increasing population as the cultivable lands are decreasing day by day. Moreover providing cloths, accommodation facilities, giving education and health care facilities to the people which are the primary duties of the government are also becoming difficult for the increasing population. Apart from these being a developing country the government can't also affords to set up new industries and create employment opportunities for the people. So it's very difficult for the country to compete with the rising economic powers in the global arena with the burden of this population. But it's a matter of concern that there is no chance of decreasing these problems in upcoming days rather these are turning into a devastating shape. Proper and planned utilization of internet technology can be a nice solution in this regard. Somebody may be surprised to hear this. They may argue that how it's possible to change the overall scenario of the country through using internet technology. Rather they may show the logic against this theory and say that use of technology will accelerate unemployment problems of the country, high cost is involved to use this and expert knowledge is required to avail this facility of modern science. But the reality doesn't match with their imagination. Here I'll try my level best to prove the fact that use of internet technology can be a great medium for the sustainable development of the country through logical explanation from different points of view.
The story behind the first concerted effort to make financing accessible to the world’s poorest is the stuff of folklore. Befitting the goal of poverty alleviation, the setting for this early experiment was a time of great tragedy in Bangladesh, one of the poorest countries in the world. A small country in the Indian subcontinent with a population of 130 million, a gross national product (GNP) per capita of about $300 and a literacy rate of only 38 percent for those over 15 years of age, 1 Bangladesh experienced drought and famine in 1974 that killed 1.5 million people (Macfarlane 2002). Having recently completed studies as a Fulbright scholar in the United States, Professor Mohammad Yunus was lecturing on economic theory at Chittagong University and growing increasingly frustrated at his inability to ease his neighbours’ suffering.
Understanding barriers to youth entrepreneurship as a career choice for youthMasum Hussain
People say this is the age of business as it is backed by sophisticated technologies, blessed by loads of relevant information. & in this business age the young people are leading from the front as entrepreneurs. Wherever you go from Silicon Valley to Middle East young talents are making significant marks in creating new businesses even sometime more efficiently than the older experienced people. Think of Mark Zukerbourgh, or Michael Yung, they are shaking the world with their innovational business ventures, & people like them are at speed in growing. Different studies provide proof that the young people are the greatest contributors in the arena of business.
Sylhet is a division & a major city of North Eastern area of Bangladesh. This city is rapidly growing than the other cities of this country because of her peoples increasing purchasing power as the area is booming with business projects, a lots of liquid money is in the hands of the peoples as a result of remittance provided by the people living abroad. As we know many people of this area lives in different wealthy country of the world mainly in the United Kingdom (as we know in London there is a town named ‘ Bangla Town’ mainly inhabited by the Sylheties) & middle east many families have enough money in hand almost all the time. Problem with the Sylheti’s is that though they have money they are not interested in investing them in the country for business purpose as most of them are risk averse , & do not know the ABC of business.
Walton Hi-Tech Industries Ltd. is the one and only manufacturer of multi-staged Refrigerator, Freezer, Air Conditioner, Television and Motorcycle technology and is treated as one of the sophisticated manufacturing plant in Bangladesh and South Asia. R.B. Group (Parent Company) is one of the top business groups in the country operating with a great reputation since 1977. Walton has become a sensation all over Bangladesh and in the world of electronics, electrical and automobile industries.
Corporate Social Responsibilities and Managerial EthicsMasum Hussain
Ethical theories and principles bring significant characteristics to the decision-making process. Although all of the ethical theories attempt to follow the ethical principles in order to be applicable and valid by themselves, each theory falls short with complex flaws and failings. However, these ethical theories can be used in combination in order to obtain the most ethically correct answer possible for each scenario. For example, a utilitarian may use the casuistic theory and compare similar situations to his real life situation in order to determine the choice that will benefit the most people. The deontologist and the rule the rights ethical theory when deciding whether or not to speed to make it to the meeting on time. Instead of speeding, they would slow down because the law in the rights theory is given the highest priority, even if it means that the most people may not benefit from the decision to drive the speed limit. By using ethical theories in combination, one is able to use a variety of ways to analyze a situation in order to reach the most ethically correct decision possible. We are fortunate to have a variety of ethical theories that provide a substantial framework when trying to make ethically correct answers. Each ethical theory attempts to adhere to the ethical principles that lead to success when trying to reach the best decision. When one understands each individual theory, including its strengths and weaknesses, one can make the most informed decision when trying to achieve an ethically correct answer to a dilemma.
The World Bank was created at Bretton Woods in 1944 to lend to European countries to help them rebuild after World War II. It was the world's first multilateral development bank, and was funded through the sale of World Bonds. Its first loans were to France and other European countries, but soon lent money to Chile, Mexico and India to build power plants and railways. The Bank came into formal existence on 27 December 1945 following international ratification of the Bretton Woods agreements, which emerged from the United Nations Monetary and Financial Conference (1–22 July 1944). It also provided the foundation of the Osiander-Committee in 1951, responsible for the preparation and evaluation of the World Development Report. Commencing operations on 25 June 1946, it approved its first loan on 9 May 1947 (US$250M to France for postwar reconstruction, in real terms the largest loan issued by the Bank to date). Its five agencies are:
• International Bank for Reconstruction and Development (IBRD)
• International Development Association (IDA)
• International Finance Corporation (IFC)
• Multilateral Investment Guarantee Agency (MIGA)
• International Centre for Settlement of Investment Disputes (ICSID)
The World Bank's activities are focused on developing countries, in fields such as human development (e.g. education, health), agriculture and rural development (e.g. irrigation, rural services), environmental protection (e.g. pollution reduction, establishing and enforcing regulations), infrastructure (e.g. roads, urban regeneration, electricity), and governance (e.g. anti-corruption, legal institutions development). The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the economy. For example, a loan to improve coastal environmental management may be linked to development of new environmental institutions at national and local levels and the implementation of new regulations to limit pollution. The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. Two countries, Venezuela and Ecuador, have recently withdrawn from the World Bank. It is stated that it is also an observer on the United Nations Development Group.
2. Group Members
Name ID
Md.Yeasir Arafat
Mahmudul Hasan
Masum Hussain
Romana Begum
Farhana Jahan Liza
Tahfim Ahmed Chowdhury
1611017008
1611017014
1611017021
1611017047
1611017049
1611017051
Section: C, Semester: 4th
Department of Business Administration
Leading University, Sylhet.
3. What is Employee Turnover?
The rate at which employees leave
a company and are replaced by new
Employees.
One of the critically challenging issues in business world.
Estimated probability that employees will stay or leave the
organization.
May triggered by - quits, attrition, exits, mobility, migration,
succession.
4. Employee Turnover Sparks
Obstacles toward achieving
organizational objectives.
Delay in innovation process & weak service consistency.
Increasing pressure for the
current employees in organization
& Reflects poor organizational
image.
Overall bad impact on organizational performance &
effectiveness.
5. Types of Employee Turnover
Functional Turnover: results in the
leave of poor performers.
Dysfunctional Turnover: Results in
the leave of high performers.
Avoidable Turnover: Triggers from controllable
circumstances.
Unavoidable Circumstances:
Macro factors & the employee will.
6. Types of Turnover
Voluntary Turnover: Employee leaves
because he leaves.
Involuntary Turnover: Can be a force
turnover, result of death, sickness of the
employee.
Skilled Turnover: Skilled employees are going outside.
Unskilled Turnover: Unskilled man force outflow.
Internal & External Turnover
7. Factors Affecting Turnover
Available Alternative Jobs: Resourceful
market, industry boom, high labor demand.
The Characteristics of the Job: If the job is dull in nature, high
workload, highly routined.
Personality of the Employee: If the personality of the employee &
the job nature is not compatible, Job lacks what the employee
demands, sudden change in employees personal life.
Wrong handling of the recruitment
& selection process of the employee.
Unfavorable working environment.
8. Factors Affecting Turnover
Lack of opportunity for career
advancement- less hope less stability.
Inadequate training and supervision-
excellence leads to excellence.
Unequal wage- there is nothing like
friendship!
Job involvement- interest begets performance.
Leadership- Steve Job is Steve Jobs!
Professionalism in the organization.
9. Relation with Productivity
Efficiency demands a certain time to be achieved.
On the job training may costs a significant portion of skilled
employees natural effort.
Lack of proper training from the part of the organization or
failing to absorb training things from the new employees
side.
Understanding cultural symphony of an organization is a
pretty long process.
Any secret treaty of an active employee with other
organization may slow down the respective employees
performance.
10. Methods of Controlling Turnover
Realistic Job Preview: Is one of the most effective
elements to reduce employee turnover. It can facilitates:
Reduction of gap between employee expectations and
reality.
Facilitates commitment to the choice
organization.
Helps effective self selection.
Value orientation process.
Copying efficiency.
11. Job Enrichment & Workspace Matters
Job Enrichment:
A theory championed by Frederick Hertzberg.
Handy in controlling employee turnover.
Allows employee to engage with their full potential.
Big people are for big stages!
Workspace Characteristics:
Unique physical environment stretches impact on
employees job related behavior, environment may act as an
facilitator or the contrary to the employee holding effort.
12. Methods of Controlling Turnover
Compensation Practices:
Dissatisfaction regarding pay is one of the
prime reasons of employee turnover.
Competitive pay scale must be ensured to sustain competition.
Maximums of the past employee turnover records worldwide shows
payment is a big concern.
High Involvement in Work:
May facilitates employee retention.
High investment in job involvement
Ensures higher employee enthusiasm.
13. Methods of Controlling Turnovers
Socialization Practices:
Very crucial to make the newcomers feel home.
Initial periods poses greater vulnerability toward employee holding
efforts.
Basic reason of untimely resignation of the employees is weak
socialization process.
Significant socialization practices involves:
On site orientations, off site residence.
New recruits & senior co-workers.
Peers/ supervisors.
Social/recreation.
Business trips.
14. Causes to Turnover
1) Healthy Salary Structure.
2) Poor Management.
3) Unfavorable Job Location.
4) Availability of Alternatives.
5) Job Insecurity.
6) Job Dissatisfaction.
7) Heavy Workload.
8) Less Space for Work-Life Balance.
15. Factors that Facilitates Retention
1) Job Security.
2) Pension Plan.
3) Favorable Job Location.
4) Competitive Salary Structure.
5) Proper Training & Development Opportunity.
6) Proper Performance Management.
7) Space for Comfortable Work-Life Balance.
8) Sound Working Environment.