My report work is actually based on individuals resource management. I have done my internship of six week in Bank or investment company ALFALAH. The knowledge of having worked well in standard bank alfalah really was productive for me, when i come to learn a lot of things.
It was a gratifying experience for me personally to work with the team of standard bank alfalah who are focused on the eyesight of providing the best services with their customers and on the other hand maintain the dignity of their employees too.
During my amount of internship I came across the staff members of the bank very kind and cooperative. They provide every kind of information which pays to for me personally n my work and also discuss their practical experiences with me. They provide their important time if you ask me in making might work easy and understandable.
The work of my report is based on the processes placed in human source of information department of the lender alfalah. I came across their techniques really good and productive. They may have clear vision and goals. All the team work peaceful hard in the fulfillment of pre-defined goals.
I tried to shed light on several different types of procedures of HRM which the bank practices to make it easily understandable for the people who read it.
The building of better Pakistan rests primarily on increased business development atlanta divorce attorneys sector. I've looked into this aspect in greater detail because I strongly carry that the development of 1 sector enhance the output of other which automatically progressive for the economy as a whole. Just like the improvement in the bank operating system improves the well-being of the culture.
In the finish, I would like to believe my instructor and the team of bank or investment company Alfalah very truly. I'd like to mention here the genuine and cooperative staff with which I have worked within my internship period. And previous but not the least, thanks to those worried people who guided me to make my work better and effective.
ABSTRACT
This report is based upon the human resources management and its own practices applied in the BANK ALFALAH LIMITED.
The report is divided into different outcomes. In the fist outcome, you can analyzed the targets and the process of human reference planning and evaluated the systematic method of recruitment and then application of the same in real human resource department. Also you can research the recruitment and selection procedure.
In another outcome, you can evaluate the application of appraisal methods and carried out a job evaluation for bank. The evaluation is manufactured about the effectiveness of disciplinary and grievance types of procedures which are used in the bank. Also it described the necessity for maintaining workers records by the business.
Last but not minimal; it discussed the necessity for effective management for staff dismissal and at the end proposed techniques for dealing with redundancy.
A brief realization is given by the end of record.
Table Of Contents
INTRODUCTION7
HUMAN RESOURCE MANAGEMENT. 8
HIERARCHY OF THE BUSINESS STRUCTURE. 8
ORGANIZATIONAL HIERARCHY Graph9
HUMAN RESOURCE PLANNING. 9
HRP PROCESS. . . 11
HRP FORECASTING 11
JOB Research. . 12
JOB ANALYSIS FOR TOP LEVEL MANAGEMENT. . 13
RECRUITMENT AND SELECTION. . . 13
PERFORMANCE APPRAISAL In Standard bank Alfalah. . 15
JOB EVALUATION16
COMPENSATION AND BENEFITS16
DICSIPLINE. 17
GRIEVENCE. . . 17
PROMOTION. . 17
DEMOTION18
RESIGNATION. 18
RETIREMENT. 18
SWOT. . 18
Conclusion. . 20
Preferences. . . . 21
INTRODUCTION
Bank Alfalah Small is an exclusive type standard bank of Pakistan that is owned by the Abu Dhabi Group. In Pakistan, Lender Alfalah became practical in the year 1997. First it was started out working as a general public limited company under the companies Ordinance 1948. In the same yr, in the month of November it began working as a lender. Loan company Alfalah is a commercial lender. Lender Alfalah has somebody ship with the Abu Dhabi Group which allows the bank to get advanced and effective technology in order to widen the number of its services and products. Exterior Pakistan, Bangladesh was the first place where Loan company Alfalah received its establishment in 2005.
Currently there are 270 branches of Loan provider Alfalah in more than 75 different places of Pakistan. The top office is positioned in Karachi at I. I Chundrigarh Highway. Some major locations where Bank or investment company Alfalah branches can be found are the following:
Karachi, Islamabad, Lahore, D. I. G Khan, Sargodah, Sukkar, Rawalpindi, Peshawar, Hyderabad, Murree, Attock, Sialkot, Gujranwala, Quetta.
VISION:
"To be the leading organization operating locally & internationally that provides the complete selection of financial services to all segments less than one roof top. "
MISSION:
"To build up and deliver the most progressive products, manage customer experience, deliver quality service that plays a part in brand durability, establishes a thorough advantages and enhances profitability, in this way providing value to the stakeholders of the bank. "
FUNCTIONS:
Branch banking
Deposits, Remittances, Foreign trade, Lockers.
Consumer banking
Credit Cards, Automobile financing, Mortgage loans, Consumer durables, RTCs.
Electronic Banking
Telephone banking, ATMs, Online bank.
Corporate banking
Short/Long Term finance, Trade finance, Set up finance.
Treasury & Investment
Money market, Forex market, Investments, Federal government securities, Correspondent banking.
HUMAN Source of information MANAGEMENT
Human source of information management (HRM) is the organization functions that handles the issues related to the people or employees such as reimbursement, hiring, performance, management, company development, safety, wellbeing, benefit, employee motivation, communication, supervision and training. Man learning resource play very important role in every organization. It fundamentally deals with folks in the organization, their interrelationships, discussion, problems and their alternatives in an agreeable and even environment. HR division also take care of different grievance strategies. Grievance techniques are process to solve disputes, problems and misunderstandings from the staff of the organization. HR division also handle the disciplinary treatment. In addition, it includes the procedure of development of training, skills, talents and features.
OBJECTIVES:
Some main goals of HRM include:
Ensure right quantity of labor force for the right job, at the right place and at the right time.
To ensure employees satisfaction and development of their skills.
To facilitates training and development programs for employees.
To forecast future requirements: i. e. HR labor, option of finance.
To reduce abnormal labor turnover and high absenteeism.
To ensure organization is responsive to changes in the environment and the working conditions.
HIERARCHY OF THE ORGANIZATION STRUCTURE:
ORGANIZATIONAL HIERARCHY CHART:
EME SOCIETY BRANCH:
HUMAN Source PLANNING:
Human resource planning is the procedure of determining an organization's individuals learning resource needs. It includes forecasting and planning the acquisition, retention, improvement and the use of HR in an efficient and effective way.
The process of HRP consists of six steps:
HR PLANNING:
ORGANIZATION'S STRTEGIES AND PLANS
1) Examination of plans and objectives:
The group should b clear about its goals. The business procedures such as profitability, financial plans, development targets, market forecast and budget, etc: are always established upon and really should be related to manpower planning.
2) Examination of HR requirements (demand):
This step entails forecasting HR needs predicated on organizational aims. Several factors is highly recommended when forecasting demand. Factors like goals of the organization, requirement of workforce, cost of labor, environmental factors and sociable norms are crucial for demand forecasting.
3) Examination of HR availability (source):
In this the business checks the existing position of their workers that how well they are doing the existing programs and then forecast what additional programs they can do. This task is the analysis of today's resources such as inside HR supply, external HR supply, analysis of HR utilization, etc.
4) GAP evaluation:
After doing the demand and supply analyses there may be become three situations:
First situation when demand = source, so no actions are needed in this example. Second situation is when there could be a surplus of workers so steps like early retirement, restricted hiring and down sizing are appropriate. Third situation is when there's a lack of employees may go up so a scenario process of recruitment and selection should carry out.
5) HRP:
Organization need to get ready a plan which takes out the difference between demand and offer within the financial resources open to them. This should ideally take the proper execution of comprehensive individuals source of information plan with various measurements such as organizational framework, recruitment and selection, training and development, advertising, staff lowering, retrenchment, etc. so in those days not absolutely all the elements may necessitate, only the last things then be incorporated into plans.
6) Monitoring and control:
This is the ultimate part of which all the process is evaluated and then will take some corrective steps where necessary. This step also means that hr planning is going in line with the organization tactical plan and fits the demand and offer.
(GARY DESSLER, 2005)
HUMAN Source of information PLANNING PROCESS AND FORCASTING:
ORGANIZATONAL Review:
To determine the organizational mission
Scan the business environment
Set strategic goals
Formulate a tactical plan
Course of action is designed.
FORCASTING EMPLOYEE DEMAND:
Opening a fresh branch
Setting up or starting with new technology
Changes in customer demand
New services.
FORCASTING EMPLOYEE Resource:
Transfers
Promotions
Job rotations
Overtime.
Banks making different kind of forecasting like zero-base forecasting, bottom-up forecasting methodology,
Use of mathematical models, simulation etc
Bank ALFALAH can be used zero-base forecasting for current degree of job as the starting place for identifying future staff needs in lender. Bottom-up forecasting way: It really is a forecast method where each successive degree of the ALFA`LAH, you start with the cheapest and forecast its staff requirements to be able to ultimately provide an aggregate forecast of occupation needs: Usage of mathematical models: numerical models also use for forecasting HR requirements. Its show the relationship between demand and quantity of employees needed. replication it's the method for experimenting with a genuine world situation by having a mathematical model representing the problem.
JOB Research:
Job examination is very impotent for any organization because on this basis many administrative and managerial decisions are used, such training, selection and recruitment.
Bank Alfalah carry out job research when company want to open up new branch, establishing new technology or new service etc.
The reason for job analysis is:
Collection of information about different degree of activities to be performed.
Collection of the data about education, skill, experience, personnel qualities
select the best person for right job
Job Analysis FOR TOP LEVEL Level Management:
The job evaluation is done in the head office which is situated in Karachi, the Head office usually use interior options as well as exterior options to job vacancy, here given some example of job description and job standards of the managerial post of bank
MANAGERIAL JOB Explanation:
Job Subject: Branch Manager
Job Summary: Promotes banking in the community and manages branch procedures in the coordination with head office.
Tasks:
Highlight the services to get people.
To operate in such a way that cost is reduced and services are maximized.
To check and issue loans on merit for the upsurge in bank income.
Job Features:
Experience: Least 2 season working experience
Personality: Attractive and charming
Qualifications: MBA or MS in relevant field.
RECRUITMENT AND SELECTION PROCESS:
BANK ALFALAH uses different strategies for recruitment to fulfillment of the need of expansion
Top management
Trainee officers
Recruitment is usually made based on necessity, top management uses different methods for recruitment they use inside and external sours for recruitment.
Trainee officers are fresh individuals usually from external sources, who are having the prescribed certification for the post. Internal recruitment is also created by up graduation of the low employees with the same certification or better shows at the low post in the same corporation.
BANK ALFALAH advertises the vacancies in popular papers, websites and immediate applicants. That's all hangs on resources and ways.
They can advertises their vacancies through newspaper publishers which can either maintain British and Urdu language
They also followed online recruitment process and other online job offering websites as well as use their on websites, where they advertise the vacancies. Also immediate applicant's means that fresh graduates continue submitting their CV's to the HR office from time to time and then HR division selects the useful folks for interview and testing at any time a job is vacant.
SELECTION PROCEDURE:
Selection procedure entails viewing of applicants by which best appropriate person is chosen for a vacant post from several candidates. The primary objective of the selection process is to choose the right person for the right job.
The selection process typically involves following steps:
PRELIMINARY INTERVIEW:
The first step of the choice process is involving the viewing of prospects by first interview and short-listing the list of candidates
COMPLITION OF APPLICATION FORM:
Application form is the precise employment form used to get exact information that your organization desires for selections, In this step job seekers are asked to complete the organization's request form
EMPLOYMENT Assessments:
presentation simulation test, work sampling, evaluation centers.
Complete Interview :
interviews require a face-to-face meting with the individuals to investigate the areas that are not addressed by the application form about the backgrounds like:
Formers employers
Previous job performance
Education
Legal status to work
Criminal records
CONDITIONAL JOB OFFER:
job emerges on conditions bases for several period of time. After fulfillment of certain conditions and successful performance for the reason that period the tentative job may becomes permanent.
MEDICAL/PHYSICAL EXAM:
an examination to determine an applicant physical fitness for essential job performance.
FINAL SELECTION:
individuals who perform efficiently in preceding steps are actually considered permitted receive the occupation offer.
Performance appraisal In Bank or investment company Allfalah
Setting goals for the appraisal system
Developing requirements for successful performance
Creating metrics for evaluating performance
Selecting reviews and reviewers
Considering the timing of feedback
Organizing logistics for the report and meeting
Giving candid and constructive feedback
Setting goals
Well-designed Performance Appraisal systems:
Recognize and record an employee's contributions
Give employees useful performance feedback
Enable a more effective and equitable praise system
Develop the professional functions of employees
Communicate the organization's ideals and culture
Help the organization make evidence-based, lawfully defensible employees decisions
JOB EVALUATION:
Job analysis is the procedure of systematically determining a relative inner value of a job in an organization. In all conditions the theory is to judge the work, not the individual doing it. Job analysis is the procedure of determining the worth of 1 job in relation to that of the other careers in a company so that a good and equitable income and salary system can be set up.
When using job evaluation the business must give attention to following details:
Detail job research.
Identifying relevant job factors.
Allocation of items.
Total credit score of factors for job analysis.
Job evaluation conditions of bank or investment company Alfalah:
In loan company alfalah the job evaluation criteria is basic pay, the fixed salary or wages which contributes the rates for the work. In the skills founded job, these rates may vary according to the skills and competence of a person. The rates are fixed by managerial common sense that what's required to recruit and retain the employee.
The formal timing of loan company is 09. 00 AM to 06. 00 PM, but virtually all the employees have to work till 08. 00PM. however, because of this additional work they are not given any extra remuneration or over time pay.
COMPENSATION AND BENEFITS:
Different types of reimbursement include:
Base pay
Commission
Overtime pay
Bonuses, revenue sharing
Merit pay
Stock option
Travel, meal, enclosure allowance
Benefits includes: oral, insurance, health(medical), holiday, leaves, old age, taxes
DISCIPLINE:
regulation is a most for every organization that needs to move forward. It's very essential for the smooth working of any company. Additionally it is very very important to peace and tranquility in an business. Peacefulness between employees, customers and clients. Discipline is seen or thought as a push that prompts individuals, organizations, region etc to observe rules and regulations stipulated which can be deemed essential for the effective and efficient jogging of the group, organization or nation.
There is a list of disciplinary treatment which is vital for every employee to follow. The guidelines and legislation are:
The standard bank Alfalah doesn't compromise on attendance and in standard bank maximum 85% attendance is very important for every staff. You can find no excuses for formal absentees.
Bank working timing is 9pm to 6 am and there are no excuses to come after 9 pm.
Every staff should come in proper dress to the office.
Misbehavior with customers is not allowed.
Smoking is prohibited inside the lender, this rule for those, for employees as well as customers.
Taking fascination with business activities is the work and responsibility of every employee.
GRIEVENCE:
It is a formal way of resolving problems at work. It is a matter connected with the conditions and conditions of employment or working conditions that impact an individual directly or impact their personal dealings or connections with other workers of the organization.
PROMOTION:
The criteria for advertising to a specified post usually merit cum seniority. A person will qualify for promotion if:
Satisfactory files of service
Meets the requirements for promotion
Clear advice for promotion in his/her ACR
If you can find any complain & any departmental proceeding in underway against him/her in the last three years then the employee will never be promoted.
DEMOTION:
Demotion is reverse to promotion. The individual is demoted to lessen get ranking or remains the same get ranking because the performance remains same for three years. The person may be expelled on the span of bad do in laws, convict by law, fraudulent activities.
RESIGNATION:
When an employee needs resignation, he must apply in HRD. He should notice HRD 90 days before he resign. If he not advise before three months then he has to pay 90 days gross salary amount. After an employee applying for resignation HRD will inquiry all the branches that the worker has any exchange with any branch or not. In the event the branches records are ok then the Mind of HRD approve their resignation and send to the employee's Branch Administrator.
RETIREMENT:
HRD creates to employee CC collection manager advising pension date. Line director arranges informal meeting with employee to go over ideas & confirm to request extended working. Line manager writes to employee confirming CC HR. Staff chooses to retire at 65.
SWOT:
S = Advantages:
Bank is rising stage so financial position is good.
expert and devoted workforce.
Low cost than other major banking companies.
Wide networking.
W = Weaknesses
Less advertisement
Slow in presenting new offers
O = Opportunities:
Bank alfalah may completely avail the facilities of e-banking.
Extension of international network of the branches.
Introduction of impressive products.
rising market.
Credit credit card facilities.
T = Risks:
Uncertain economical conditions.
Action used by competition.
Political instability.
SUGGESTIONS AND Referrals:
After developing a great experience of six-week internship in Bank or investment company ALFALAH, I've come to know some disadvantages that must be given attention for better improvement. Pursuing are some tips which I advised to be controlling with more health care and attention:
The web site of the bank is very less informative without any any good impression on the visitors. The site is also not such updated with new activities. THEREFORE I suggest that it should be updated as time passes for the capability of the customers or guests.
There is a bit misdistribution of work in the lender. Like some employees are over burdened with the task which creates lack of responsibility in others. So I suggest that the circulation of work should be fair.
The quantity of fax machines and photocopiers are significantly less than the main one they necessary for proper use. So that it should be managed in ways to save time and improved efficiency.
There is insufficient communication programs in marketing department which affects all the departments immediately or indirectly. THEREFORE I suggest that the bank should spend and focus more in bettering its communication stations.
CONCLUSION
An group is a framework of several people who join their work for the achievement of common goals. The nice employees will be the key to success for an organization. Hence, you have to find the better to be best because the performance of the employees displays the business's image and its own position in the market. Better the grade of employees better the performance of company.
BANK ALFALAH is engaged in several business activities. All of the departments are well-managed and goal directed. There are many different techniques and methods that the management goes through, in order to create the desired outcome.
My work on this report outlined different facets of human source management, like, HR planning, job research, recruitment and selection, performance appraisal, job evaluation, compensation, self-control, grievances, campaign, demotion, resignation, retirement and swot analysis along with recommendations and recommendations. I am hoping all the data which I accumulated supposed to be useful for the lender as well as for other viewers.
My working experience really was great in standard bank alfalah. In my point of view the system of the lender is actually well managed and highly lovable. The bank is providing its customers world class excellent services. They have always followed the correct path for the fulfillment of their needs and their goals too. All of the employees recognized their tasks well and been able all their work in a highly effective and successful way.
For such a short time period but nonetheless I m happy to be always a part of standard bank alfalah private.
