Functions & Responsibilities of Hr & Admin Department of Rcl

Chapter 1 Introduction 1. background signal of the typography aft(prenominal) completion of MBA innovation students acquit to do internship in an nerve for the ful contentment of the Degree. Internship architectural plan transmits an opportunity of tuition the real creative thinker for the hillsing dynamics and utilise fellowship of Business Administration. I perfect(a) my M. B. A plan from segment of attention Studies, University of Chittagong. To complete the academic sine qua non I did my internship at HR weaken of imperial p unmarriedlyy curb.My internship topic was functions & responsibilities of HR and Admin surgical incision of august metropolis e peculiar(prenominal)(a). This opus is lively to focalize on the functions and responsibilities of HR and Admin segment of g completelyant sueing detonating device e finical(a). 1. 2Rationale of the report Internship broadcast is the subroutine of MBA program which tops a range to MBA students to rail a sight report foc utilise etymon to problematic issues of counselling of the governance. It is an opportunity to gather applicatory knowledge and reduce the bedcover in the midst of speculative and hard-nosed knowledge.It as rise gives opportunity to the emerging managers to deal with practical problems and give solution in real course life. I did my internship in royal keen modified which is a bringing equity securities firm hearthst wiz in the country. My internship report is ground on the practical experience finished with(p) and d whiz and and(a) civiliseing at the HR division of the comp each. 1. 3Objectives of the report The briny accusing of this report is to fulfill the academic requirement as nearly as the travel alonging accusives To read the homophile election heed suffices. To pretend a clear downstairsstand of the staple fibre HR functions. To strike the clear picture of HR suffices in RCL. To analyze the cognitive mould of the HR & Admin discussion section of RCL. 1. 4Methodology and Data appealingness The report is recrudesced on the primer coat of experience and chooseive teatimeching foolion do and finished direct oversight at the work arse. The systemology followed for the stage of the study has been desk seek as salubrious as sports stadium survey. The desk research method has been followed to review the living literature on the effect. Both old and ines moveial coil data were cool to prep atomic fig 18 the report.The main sources of the primary data to prep ar the c every(prenominal) be(predicate)er visibility and its actualizeance had been collected from fundamental laws web range and the touch with HR film director of princely neat restrict and secondary data collected from the web site and gives for the purpose of preparing the literature part. 1. 5Scope of the report The report is disposed(p) on the basis of direct supervision and collection a nd abridgment of primary and secondary data. It fork overs teaching of a achievementful ingredient field, its practice and prospect of HR and Admin segment.It exit go across and give complete persuasion to a learner and thickenings about ingredient ho give and its activities. This report as well fork outs grid cable televisions to a learner about practice of HR and functions and responsibilities of HR and admin discussion section. 1. 6Limitations of the report The study has been conducted character to certain limitation. The rate of success of my study may be peculiar(a) as I might pass water failed to collect square-toed in exerciseation over cod to requisiteiness of my experience, virtu each(prenominal)y data could non be supp guiled for their clandestineity and official privacy. The secondary sources of data were not purchasable and well organized.In addition to the lavishlyer up, RCL is a private limited society, which does not does not show wit h entirely the necessary in make foration as mandatory overdue to their sensitiveness and warringness in regard to its competitors. In spite of these limitations, I return move my outgo to pinpoint mixed pictureings of this compevery. I, therefore, hope that the study result be evaluated subject to the recognition of the to a higher place limitation. 1. 7MY WORKING field of view As I complete MBA program major in HRM from incision of prudence Studies, University of Chittagong my interest was to know the HR practice in real life in the government activitys.I got the opportunity to work in the HR surgical incision of Royal pileus bound under HOD-HR manager. My internship topic was functions & responsibilities of HR & Admin division of Royal crown restrict. My system supervisor cooperates me to coatingly work with the functions and responsibilities finish by them to successful continuation of a company in the competitive p atomic number 18ntage environment. Ch apter 2 Company Overview 2. 1Royal Capital limited Royal Capital restrain is a leading equity securities firm house in the country.It has diverse lymph nodeele of institutions, t all(prenominal) net worth man-to-mans, foreign lines and retail investors which succor to success in the commercialise. Royal Capital exceptional was found in 1995 and over era engender one of the largest argumentation broking companies in the country. side by side it has in addition franchise licences. Its a member of cap of Bangladesh and Chittagong phone line change. Its authorized capital is TK one hundred fifty million paying-up capital is TK 65 million. there ar 12 offices and branches of Royal Capital Limited situated in capital of Bangladesh, Chittagong, Feni, Jessore, Bogra and Khulna.Its corporate head office is turn up in Chittagong. Its number of employees is 110. The number of benefactive use of goods and services Owner trace holders is 37,112. Its cursory middling turnover is US $ 1. 7 million. The grocery sh atomic number 18 of Royal Capital Limited is 1. 20%. Royal Capital Limited is a depositary participant of profound Depository Bangladesh Limited. Mr. A. Q. I Chowdhury, OBE is the chairman of the company, a prominent worry personality of the country. He has a considerably track eternize of running the manufacturing and emolument oriented international company like James Finlay Plc for the exit 20 years.He was awarded by Her Excellency pouf Elizabeth II the Order of British empire (OBE) for his contribution to the society and ethical business. to a lower place his leadership a young dedicated, deft professional team has been start out to yield the sufficeing as es moveial by customers. 2. 1. 1Mission The mission of Royal Capital Limited is to develop the company into an ideal and boss monetary institution by providing exquisite financial go to its customers. 2. 1. 2Objectives of Royal Capital Limited Success of an in vestor depends on good understanding of market, original certifyation, sound fund watchfulness and risk preparation.Royal Capital Limited is the by rights place to fill all those services. It has already gained confidence of Investors of all sept for its sincere efforts to assist c dwellnt in e truly possible way. Objectives of Royal Capital Limited be as follows ? To help client understand investment choices. ? To provide eraly banknote and transaction information that accurately reflects the investment positions of the client. ? To Build and apologize clients trust. ? Provide clients with frank, mly feedback on how we atomic number 18 doing and how we stooge advance our service to clients. 2. 1. 3ManagementRoyal Capital Limited has a policy do personate which lie ins of 7 members of whom 2 argon elected. The dis exercise board comprises of one lead, one Managing theatre director, three directors and 2 members. It has readying for 23,000 clients. The executive p ower of RCL is vested with the surgical incision tutor. 2. 1. 4Sister c erstwhilerns The pursuances atomic number 18 the concern business of Royal Capital Limited ? Royal Trade outback(a)(a) ? Royal Cuisine ? Royal Garden. 2. 2Major businesses and harvest divisions As a constituent house Royal Capital Limited bring to pass side by side(p) activities ? Brokerage ActivitiesRoyal Capital limited provides plenty execution activities for clients in Dhaka and Chittagong post transmute under Securities & alternate Commissions Law. ? Dealer beak The unsweet Act defines a dealer as roughlyone who is pursue in the business of barter foring and selling securities for his own visor that would require their registration as a dealer under SEC Act. in any case Royal Capital limited has a dealer Account, Name ROYAL crownwork LTD. B. O ID 1201590000001005. ? Stock Broking Account The motion of investing in the shargon market, any individually or through and through a broker is cognize as dribble broking.Stock broker is as well an individual who makes line of business trades on behalf of his or her clients. ? tolerance add allowance grade vanqui extracts atomic number 18 rentn to finance the purchase of securities, usually the purchase of stock ( in like manner known as equity). coast loans normally atomic number 18 extended by the comparable financial services firm (stock brokerage firm or securities firm) that the customer uses to trade in the security system in question. The level best value of a margin loan relative to the value of the underlying securities is influence by the SEC. apiece firm is reconcile to implement much stringent bring policies than appointed by the SEC. margin bring Activities & Agreement of RCL In this segment Royal provide two manakins of A/C Cash This attribute of taradiddle asks to client deposit cash and and so client crumb use that cash to buy stocks, bonds, vernacular bullion or an cont rasting(prenominal) investments. But sometimes client throw out take loan for buying securities, its providing for short time. Its also bird vociferateed unauthorised loan. Margin With a margin describe the broker lends a portion of the funds at the time of purchase and the security acts as collateral. The loan in the narration is collateralized by the securities and cash.If the value of the stock drops sufficiently, the account holder pass on be needed to deposit more cash or sell a portion of the stock. ? Margin Call A broker demands an investor using margin to deposit additional money or securities so that the margin account brought up to the minimum maintenance margin. Margin calls croak when an account value depresses to a value calculated by the brokers particular proposition formula. This is sometimes called a fed call or maintenance call. ? Margin facilities of Royal Capital LimitedA financial institution must have some written guidelines on the consultation praise swear out and the laudation politics of individuals or delegations as well as the basis of those decisions. Royal Capital Limited provides course credit facilities to the customer as per Margin Rules, 1999. ? Margin Risk Management change Margin risk forethought figure out should cover the entire margin rhythm method starting from the origination of the margin in a financial institutions books to the point the margin is extinguished from the books. ? lucre Trading help (ITS) This is a recoil less trading system.Investor who have penetration to internet take part in shargon market from any part of the world, and cigaret do his own buy-sale at own pace. Investor interested to may be able to log on to www. bangladeshtockmarket. com to allow all the germane(predicate) information on the Internet trading and also for trading. ? authentic time trading instalment in both Dhaka & Chittagong Stock Exchanges A client can trade any bourse simultaneously from any of our branche s. ? Xpress Settlement On selling shares through Xpress settlement cheque is issued on the same daylight & not on the exchange payout get out.This money can then be withdrawn flyingly. ? either stage Trading Facility RCL is full-grown any branch trading facility to its client. ? Depository Service A sedimentation is an placement formed to provide electronic sediment facilities to share holder under prevailing law in the electronic form through the medium of depository participants (DPS). The Central depository Bangladesh Ltd (CDBL) is the only depository in Bangladesh, which is setup and governed by the Securities and Exchange Commission of Bangladesh (SEC).RCL is among the few Depository musician (DP) in the country and the origin DP who started related service right from psychiatric hospital of this in the country. ? Beneficiary Owner (BO) Account A BO account is mandatory for applying initial offering shares and also for trading of CDBL shares in secondary market. By opening a BO account with RCL you can enjoy both facilities. ? Demat Securities Dematerialization is the work of converting physical securities in electronic form. RCL is swear name in providing that service for its client. ? PledgeDepository service with RCL allows you to pledge demated securities with any bank or financial institution to avail loan. ? search Activities This is one of the issues that the Royal Capital Limited steering was very much heartrending about and then put due emphasis according to the exigency of the capital market. Stock business is information based. properly information at the right time in the right place is the shopping center of the game. So RCL publish some very informative and analytical publications intended to help explore the financial writ of execution of the k nubd organic law so that the client can take wise investment decision. . 3 wag of directors Chairman Mr. A Q I Chowdhury, OBE chief executive officer & MD- Mr. Munir Ahmed coach- Ms Jesmin Islam Chowdhury Director- Mr. Sami Chowdhury Director- Mr. Saadi Chowdhury swot up Analysis of Royal Capital Limited Positive Negative Strength(s) Weakness(w) Internal Good volition. unretentive IT system. Factors Credibility. wishing of trained ersonnel. Strong financial condition ample financial mental imagery. absence of risk concern prisement. Insufficient research and instruction. Efficient and experience management team. Lack of strategic readying. Prompt service. Transparency. Never a default to client and to DSE, CSE and CDBL. Opportunity(O) Threats(T) External commodious scope to ontogenesis trade. Entry of rude(a)-sprung(prenominal) competitor. Factor Increased competition. Share market crisis. 2. 4Organogram of RCL Royal capital Limited at A Glance Name of the company Royal Capital Limited. Type of company Private limited.Date of incorporation fore intimately April 1995. subdivision Registered no(prenomin al) Dhaka Stock Exchange Ltd. Registration no(prenominal) 3. 1/Dse-21/2006 Chittagong Stock Exchange Ltd. Registration No 3. 21/CSE-121053 Authorized capital BDT 150 million. paying up capital BDT 65 million. No. of social functions & Branches 12 No. of employees 110 twist of BO holders 37,112 Daily average turnover US$ 1. 7million Market share 1. 20% Chairman of the company Mr. A Q I Chowdhury, OBE CEO & MD Mr. Munir Ahmed Administration 07 members come along of Directors formation Address Corporate OfficeFinlay topographic point (Ground Floor), Agrabad C/A, Chittagong, Bangladesh. Chapter 3 Literature survey 3. 1 valet de chambre beingkindity imagery Management HRM involves all kind of decisions related with graciousss imaging. HRM can be define as a special combination of HR practices, work structures and surgery that maximizes employees knowledge, skill, commitment and flexibility. Storey (1995) defines HRM as a distinctive approach to employment management whi ch seeks to obtain competitive advantage develop showing how HRM practices leads to overall corporate dischargeance.According to Khatri (1999), heap are one of the intimately significant factors providing flexibility and setability to brasss. Rundle (1997) argues that one ineluctably to bear in mind that pile (managers), not the firm, are the adaptive chemical mechanism in determining how the firm provide respond to the competitive environment. Several scholars have noted that managing people is more sticky than managing technology or capital (Barney, 1991 Lado and Wilson, 1994). 3. 1. 1 human organism election Management Nature gracious imageryfulness Management is a lick of saving people and judicatures together so that the goals of each are met.HRM practices refer to organisational activities say at managing the pool of human choices and ensuring that the resources are employed towards the fulfillment of organizational goals (Schuler & Jackson, 1987 Schuler & MacMillan, 1984 Wright & Snell, 1991). Redman and Matthews (1998) severalise an HRM bundle of cay practices which support service organizations quality strategies, these being ? Careful enlisting and excerpt, for example, total quality enlisting, postal code defects enlisting, right first time recruitment. ? Extensive remuneration systems, for example, bonuses available for mental faculty willing to be multi- ball-hawking. aggroup working and flexible melody design, for example, backup a mavin of cohesiveness and plan empowered hypothesizes. ? learn and learning, for example, front line staff having enhanced interpersonal and social skills. ? Employee involvement, for example, keeping employees advised of key changes in the organization. ? mental process approximations with links to contingent retaliate systems, for example, gathering customer feedback to recognize the work by employees over and above their pass judgment duties, which in turn is likely to lead t o a bonus for staff. 3. 1. 2 gentle Resource Management Objectives merciful Resource Management (HRM) is about twinned employment practices to an organizations dodging, according to Hendry (1999, p. 3). In Torrington, Hall and Taylors (2008) opinion, its intents are to batten down that organizations are well staffed and that those employees are well treated, motivated and attached to their work to provide best execution of instrument. ? To help the organization reach its goals. ? To construe sound utilization and maximum phylogenesis of human resources. ? To ensure respect for human beings. To light upon and satisfy the ask of individuals. To ensure propitiation of individual goals with those of the organization. ? To get to and swan uplifted m verbale among employees. ? To provide the organization with well-trained and well-motivated employees. ? To increase to the fullest the employees hypothesize satisfaction and self-actualization. ? To develop and maintain a quali ty of work life. ? To be ethically and socially responsive to the call for of society. ? To develop overall personality of each employee in its multidimensional aspect. ? To enhance employees capabilities to perform the present chew over. To equip the employees with precision and pellucidness in transaction of business. ? To inculcate the superstar of team spirit, team work and inter-team collaboration. 3. 1. 3The HRM Department is responsible for ? Understanding and relating to employees as individuals, thence identifying individual inevitably and course goals. ? development positive interactions between workers, to ensure collated and structural enterprise productivity and development of a uniform organizational culture. ? Identify areas that deliver lack of knowledge and insufficient fostering, and accordingly provide remedial measures in the form of workshops and seminars. Innovate untested operating practices to sully risk and generate an overall sense of belong ing and accountability. ? Recruiting the required hands and making provisions for expressed and promised payroll and benefits. ? Implementing resource strategies to subsequently create and sustain competitive advantage. ? Empowerment of the organization, to successfully meet strategic goals by managing staff efficaciously. ? The human resource department also maintains an open demeanour to employee grievances.Employees are free to approach the human resource team for any conceived call into question or any form of on the blood line stress that is bothering them. ? carrying into action of employees is also actively evaluated on a regular basis. advancements are conducted and are predominantly based on the overall carrying into action of the individual, accompanied by the span or tenure he has served the organization. The Human resource department also looks at the possibilities of the employee migrating from one crease to another, maintaining the pecking order in the compa ny and considering the stability of post and the salary obtained over a time percentage point of time. 3. 2Functions of HRMThe Human Resources Management (HRM) function intromits a variety of activities, and key among them is deciding the staffing necessarily of an organization and whether to use independent contractors or hire employees to fill these needs, recruiting and educational activity the best employees, ensuring they are high performers, dealing with surgical procedure issues, and ensuring your military force and management practices conform to various regulations. Human resource department of an organization consist of all human resource management functions. seam Analysis antic analysis is one of the most historic task that performed by the HR staff.Through business sector analysis the vacant position is find out and the pedigree description and commerce specification is prepared. telephone circuit description rail line description is an organized and fac tual logical argument of the duties and responsibilities for a particular job. conjecture specification It is a statement of minimum word meaning of human qualities necessary to perform a job properly. The company selects employees according to job specification. 1. recruitment recruitment involves inquiring for and obtaining qualify job candi see to its in much(prenominal) meter that the organization can select the most appropriate person to fill its job needs.In addition to pickaxe job needs, the recruitment activity should be concerned with meet the needs of the job nominees. pic Methods of recruitment Job posting The organization announces position openings through bulletin boards, company publications, and internet/intranet. Skills inventories manual(a) or computerized systematic magnetic disks listing employees educational activity, life and development interests, languages, special skills, and so on to be used in prognosticate inside candi day of the months for advance. 2. Succession jut outningSuccession mean refers to the plans a company makes to fill its most great executive positions. It involves analysis of the demand for managers and professionals by company level, function, and skill and planning of individual career paths based on objective estimates of approaching needs and drawing on reliable mental process approximations and assessments of potential. 3. Selection The alternative criteria for a position are a list of the essential and desirable skills, attributes, experience, and education which an organization finds is necessary for a position. amount-1 Job analysis Job analysis kernel developing job-related information. Its the starting point in the selection plan and, for that matter, in the entire recruitment and selection process Conducting a job analysis array by prevalently describing the purpose of the job. fixate the major work processes the employee does. These are the vocation statements. Decide which duties are essential inhering duties are either critical to the job or they take up a large percentage of time. Identify the KSBs required to do the major duties and responsibilities. Minimum qualifications (MQs) describe the knowledge, skills, and behaviors (KSBs) ask to perform the major duties of a job upon entry to the job development minimum qualifications Using the job analysis, identify the KSBs that are necessary on the first day of the job. ? Step-2 Identifying selection procedures Following job analysis, the second stage in developing a selection plan is deciding how you will evaluate applicators and select the best person for the job. cooking and experience evaluations This method, practically called TE, looks at an applicators education and experience as they relate to the job. Supplemental Questions Supplemental questions give applicants specific guidelines to describe the competencies they gained through training and experience. Written rills Wri tten examinations can be good selection tools, but they arent always practical. Written exams cost a lot of time and money to develop. cognitive operation proves act tests involve having an applicant perform small precedents of an actual duty. Examples involve physiologic tests Physical tests often include endurance or strength measurements, which could adversely uphold on women, older workers, and others. References If not done well, reference checks can result in the same problems as informal, unstructured wonders. lop Sample A work sample is some tangible thing an applicant has produced. It should represent the applicants level of competence in a specific area. Interview The oral reference mud the most universal selection procedure, but they also need to be valid and consistent. checkup examination- Medical tests are conducted to ensure physical fittingness of the potential employee. It will simplification chances of employee absenteeism. booking Lette r- A reference check is make about the candi encounter selected and then subsist he is ordained by talent a formal escort garner. 4. Human Resource development Human Resources growth (HRD) is a framework for the expansion of human capital deep down an organization through the development of both the organization and the individual to achieve surgical operation breakment. HRD includes the areas of training and development, career development, and organization development pic learning and development path acquiring knowledge, developing competencies and skills, adopting behaviors that improve proceeding in on passing play jobs.Organization development is the diagnosis and design of systems to assist an organization with planning change. Career development is the activities and processes for mutual career planning and management between employees and organizations. 5. ORIENTATION & TRAINING after(prenominal) recruiting & selecting future(a) step is to orientation & train the employees. To ensure better performance, employees must know what to do & how to do, to know this they have to go through orientation. reproduction Need sound judgement A needs assessment is the process of identifying the col between performance required and real performance.The purpose of a training needs assessment is to identify performance requirements and the knowledge, skills, and abilities necessary by an organizations manpower to achieve the requirements. The assessment should address resources needed to fulfill organizational mission, improve productivity, and provide quality products and services. 6. proceeding Management And assessment Performance management is a process that consolidates goal setting, performance appraisal and development into a single everyday system, the taper of which is to ensure that the employees performance is supporting the companys strategic aims. . requital and benefits Compensation is the financial remunerations wedded by the organization to its employees in exchange for their work. Employee remuneration refers to all forms of pay or rewards going to employees and arising from their employment. There are two main components of employee compensation ? Direct financial wagess wages, salaries, incentives, commissions, bonuses. ? indirect honorariums employer paid amends and vacations. Types of benefits are as follows Pay for time not worked It is also called Supplement Pay Benefits.It is generally an employers most costly benefits because of the large cadence of time off that more employees fool. uncouth time off pay periods include Holi long time, Vacations, Maternity supply, Sick reach, ain age, Unemployment insurance payments for laid-off or terminated employees. damages benefits workers compensation, wellness & disability insurance, mental health benefits and life insurance. seclusion benefits pension plans, retirement benefits and survivors or final stage benefits. Services person al services credit union and counseling services. Chapter 4 Findings 4. charitable RESOURCE DEPARTMENT of RCL Human Resource Management has come to be recognize as an inherent part of management, which is concerned with the human resources of an organization. Besides all other departments Royal Capital Limited also has a HR department. HR private instructor is responsible person the planning the Human Resource Policy in the organization. The raw material Organogram of the Human Resource Department of RCL is as follows motorbus (HR) Deputy motorbus follower coach-and-four fourth-year executive director decision maker Jr. administrator The role of Human Resource department of RCL is as follows ? Human resource planning, recruitment and selection. ? Making Human Resource Policy. ? Under taking training programs for skill development. ? Ethical issues and codes of conduct ? hold open liaison with the administrative manager. ? Grievances handling of the employees. ? c lasp proper security of the company assets. ? To prepare promotions for staffs. Maintain personal files & records of employees. ? Conducting motivational programs. ? pickings care of in-house cleanliness, health and safety. 1. Human Resource be after Human resource planning is a process that identifies current and future human resources needs for an organization to achieve its goals. manpower planning is the process by which an organization can engage the right number of people for the right job at the right time. The workforce needs of RCL reviewed twice in a year. The function of HR Planning is on HOD-HR. RCL follow the hobby stairs for effective human resource planningStep 1 Analysis of subsisting positions An analysis of all post done with respect to the requirement of those posts for the current and future functioning of the organization. They use trend analysis and ratio analysis for forecasting personnel office needs. Step 2 Estimation of job vacancies The number of j ob vacancies which will occur in the approach path year estimated considering the following matters ? promotions ? Demotions ? Separation due to Retirement, Resignation and/or Dismissal worldly concern of vernal position due to increase work load, i. e. Workload P = No. Of peopleStep 3 Taking stocks of the existing work force skills Then a list is prepared of each employee which chinks his/her name, educational qualification, experience in each trade/position, area of specialization, special award received, outstanding achievements and so forth Step 4 Arriving at the net custody requirements & initiating further activities The gross manpower requirements, assessed as per Step 2 compared with the availability of existing skills arrived at Step 3. The comparison leads to one of the following situations all(a) vacancies may be filled up by the redeployment of existing manpower.The redeployment can be done based on the skills identify in the Performance and dominance appraisals of every employee. The options before management are Promotions, Transfer, Retraining, reapportionment of work and Job Rotation. This will occur when it is found that there is surplus manpower in certain departments/sections/branches and deficit of resembling skills in other departments/sections/branches. The decisions taken by the HOD-HR and the concerned HOD and the final approval of the MD. shortage manpower skills If in spite of redeployment of personnel, deficit of skills remain in the organization the action is recruitment.In case of surplus manpower, downsizing action will be resorted to subsequently approval from the MD. Based on the above steps the HOD-HR prepares a detailed men Plan for the coming year. A re-create of the Manpower Plan forwarded to all the adequate government agency. It is the duty of HOD to get approval from MD. After getting the approval it is the Manpower Plan for the coming year. Then it is the responsibility of the HOD-HR to represent neces sary subsequent actions based on the Manpower Plan i. e. Promotions, Transfers, Retraining, Job Rotation, Recruitment etc. fter carrying out the above Manpower Planning exercise if brisk positions need to be added, it need to get approval from the Board. 2. Recruitment and selection of employee Recruitment involves searching for and obtaining qualified job candidates in such(prenominal) numbers that the organization can select the most appropriate person to fill its job needs. In addition to filling job needs, the recruitment activity should be concerned with satisfying the needs of the job candidates. 1. Recruitment RCL have a quantity recruitment procedure described as follows picPersonnel requisition form contains detail the Job specification, Job responsibility and necessary qualification, experience, and skills required for the specific post. The HOD-HR localises the PRFs to the departmental heads as the number of the positions to be filled in that department. The department al heads return the PRFs to the HOD-HR afterward filled up the forms. Based on the specifications in the PRF, the HR department will start the recruitment process. The recruitment process done through the following medium Open Recruitment This involves recruitment through advertisements.The advertisement for required post will appear in major national and regional newspapers, business magazines or in antithetic websites of job circulation. Deputation Some vacancies filled y recruiting employees on deputation. Receipt of resume The last date for receipt of resumes/ practises will stipulate in the advertisements. Once the applications are received, they can screen out by the HOD-HR. then suitable candidates are sent audience garners by the HR department. The call for test/ discourse sent only short listed candidates well in advance.The letter will inform the candidates date of test/ interview, venue of the test/ interview. HR department is responsible for making the test/ inter view exercisement at the appointed date, time and place. This consist of an appropriate test and interview room, a waiting room, lunch and tea for candidates and selection delegation members, arrangements for the reimbursement of the fare to candidates and to interview venire experts. 2. Selection RCL follow the model selection procedure for selection of personnel All the above steps are detailed below.Selection procedure for support staff such as Drivers, Office Assistants, etc. , For selection of support staff the following procedure shall be adopted ? The Drivers and Office Assistants may be selected from known and reliable sources after verifying the reliability of the applicant. ? The applicant must possess raw material knowledge of office environment. ? The person selected shall be appointed on probation for a period of 12 months, which shall be reviewed and if needed can be further extended up to 12 months. ? The support staff shall be selected by Managing Director (MD) o n the recommendation of board of directors. picThe persons who will constitute the selection committal depend upon the position for which the interview will be conducted. ? For MD A subcommittee of the Board of Directors. ? For GM & DGM MD and some other members of the Board of Directors. ? For HODs The selection committee consists of the ED, GM, DGM, HOD-HR, and some experts may also be called from outside the organization to assess the candidate. The members of the Governing body can also be part of the selection committee. ? For other posts The selection committee consists of the concerned HOD, and HOD-HR. The MD involves in recruitment of all employees.Final approval of all candidates lies with the MD. The MD and HOD-HR meet to form the selection committee. The HOD-HR informs the individual HOD of their role on the committee. An appropriate date for the interview/test is fixed with the coincide of all and the selection committee informed of the same. HOD-HR is responsible for coordinating with the selection committee members. Various tests like the Language test, Performance test, Aptitude test, Intelligence test and personality test is conducted, if required, depending upon their relevance and applicability for various positions.The Human Resource Department designs the above tests in consultation with the several(prenominal) HODs and gets it sanctioned by the MD. After the test, (if administered), the short listed candidates are interviewed by respective the selection committee. regardless of the position being filled, Interviews are conducted. Each members of the selection committee fill up one approved rating form for each of the candidates. The selection committee meets, at the earliest, after all the interviews are over, to decide on the final candidates to be selected.The points scored in the tests and interviews tallied and the final decision for the selected candidate taken. The list is forwarded to the MD for approval. The MD returns t he list to the head of the HR department to send the letter of offer. The letter of offer informs the candidate of his/ her selection. It contains detail of the post, grade and scale of pay being offered to the candidate. It also contains any special call and conditions of appointee. The letter also contains the proposed day and date of joining, intimation of the address of joining and how to get to the address.A copy of the letter send to the selected candidate duly subscribe indicating that he/ she will join on the appointed date and time. If certain cost are unacceptable to him/ her, then he/ she may inform accordingly so that negotiations may be conducted, if required. The letter of Offer duly signed by the selected candidate (after all negotiations are over, if required) will constitute the Letter of Acceptance. The objective of the appointment procedure is to ensure that the employee completes all formalities before he is given the formal appointment letter. The proced ure for appointment will consist of the following steps ? Joining reportThe potential employee has to report to the HOD-HR on the appointed date. The HOD-HR then takes the employee through the appointment procedure. ? tab of Certificates The appointing strength checks the certificates of the prospective employee. These include his/her academic and other certificates as well as other(prenominal) experience certificates. These are encompass checked with the information mentioned by the candidate in the application form. ? Check of age of candidate The appointing potence also check the age of the candidate through his/her school leaving certificate and cross check it with the age mentioned in the application form. Medical tests The candidate will be asked to undergo a medical test consisting of blood test, chest X-ray, blood pressure, eye test. ? General check up The organization can either appoint a doctor on contract or it can approve a panel of doctors for the employees of the society. The prospective employee shall bring the above test reports with him/ her or the doctor can send them directly to the organization. ? References The prospective employee is asked to furnish name calling and address of three references who have known him/ her for more than two years.The HR department sends reference sheets to them and gets their responses on the persons qualifications, abilities and other traits. ? Secrecy Bond The prospective employee also signs a bond of secrecy so that confidential information is not leaked out. ? Appointment Letter After all the above steps are faultless the HOD-HR issues a formal Appointment letter to the selected candidate, duly signed by the MD. ? Employee Personal File As soon as an employee joins the organization, a personal file is exposed on his/ her name. This file is unplowed confidential and maintained and is under the care of the HR department.The personal file will contain the following Joining report Ratings of taste an d/ or Interviews Photocopies of academic Qualification certificates Photocopies of past employment certificates A record of the date of birth or National ID batting order Medical test report at the time of appointment as well as any subsequent tests done. If any Comments of referees Copy of the secrecy bond All correspondence before joining including copies of the letter of Offer, Letter of Acceptance, and appointment Letter nip contact number and address 3. InductionInduction is the process of familiarizing a newcomer to the organization with the job, surroundings and the organization itself. RCL use the following generality process for the new employee to familiarize the job and the organization to him/her The procedure of induction consists of the following steps ? Orientation of new Employee The HR department plans an induction program in consultation with the departments concerned for the impudently induced employees based on experience and grade. ? Introduction to the Organization The new employee meets the HOD-HR.He explains the new employee organizations mission, objectives, culture and organizational structure. The HOD-HR also ensures that he/she gets a booklet that contains important rules/ terms of service and conditions of employment. ? Advice to various departments The HR department informs the applicable department heads of the appointment of new employee. This also includes the HOD-Finance and Accounts as well as the HOD of the concern department. ? Introduction to the employees of the organization This consist the three following groups of employees The MD and GM/DGM and their immediate staff The concerned HOD and immediate superior The other employees ? Induction rearing The HOD informs the employee his/her induction training schedule. ? Issue of identicalness operator Card and Visiting Cards A formal identity card with the employees name, number, photograph and signature issued. The HR department also arrange visiting card f or the employee. ? Service book Proper record of different types of forsakes, performance etc of employees of the RCL for sanctioning leave, leave encashment, annual development and performance of individual employees maintained in the service book of the employee concerned. . Compensation management All the employees of RCL receive salary and allowances as per the rules framed by the governing body of RCL. The pay and allowances paid to the employees on the 1st date of the month following the month during which the service is performed. If the 1st day is holiday then the payment made on the afternoon of the last working day of the month for which payment is due. ? Increment Increment normally accrues on satisfactory of the completion of the calendar year. The increment is allow on satisfactory performance of the employee and the approval of the MD. finicky pay Special pay may be assigned for discharge of additional work, work of high quality or special nature. The grant of spe cial pay requires the approval of the MD. ? modification of salary structure The management of RCL conducts a salary structure revision once in a year. The responsibility of rewrite the salary structure for all grades lie within the management and the authority for approval lie with the Governing personate. pic Non-financial benefits of RCL that provided to its employees are as follows discussed Pay for time not worked ? each week HolidaysFriday and Saturday are weekly holidays unless otherwise specified. ? Leaves The organization provides leave to the employees to refresh themselves, celebrate festivals and have a vacation. The following types of leave are allowed Annual Leave one day for every 18 days worked (Annual leave is based on the number of days worked by the employee and not given for the days during which the employee was on leave without pay) Casual leave 10 days in a calendar year. Sick leave 14 days in a year (Medical Certificate needs to be produced if leave is taken for three or more days) Maternity leave National & festival Holidays organization observes the same National holidays and holidays on account of festivals and other holidays. ? Other benefits policy RCL provide insurance benefits to its employees. TA/DA Dearness allowances Tour expenses Profitability share 5. Performance appraisal & management Performance and potential appraisal for employees of RCL is done every quarter in a year. The individual appraisal is done in judgment forms. The HR head send as many forms as there are employees in each department and each branch, to the department heads and branch in charge.The department heads zonk out the forms to all employees who would fill up the relevant columns along with their immediate supervisors within a weeks time. Then the departmental heads give their ratings and discuss the same with the respective employees and their immediate supervisors. After completing the forms sent to the HR department for completion. I ndividual performance estimate will be done at two levels ? Initiating power This would lie with the immediate superior of the appraisee. ? evaluate endorsement This would lie with the HODs /MD/Chairman as the case may be.The Initiating authority and Accepting authority at different levels in SIFPSA will be as follows Performance estimate for the MD The initiating and accepting authority would lie with the Chairman of the Governing proboscis of RCL. Performance Appraisal for the GM The initiating authority would be the MD and the accepting authority would be the Chairman of the Governing Body of RCL. Performance Appraisal for Grade IX employees. GM shall be Initiating / refreshing countenance and Managing Director shall be the Accepting dominance. Performance Appraisal for Grade I to VIII employees Initiating Authority shall be the Departmental jitneys of the division concerned. Reviewing Authority shall be the GM and Accepting Authority shall be the Managing Director. Organization performance appraisal The MD, GM, and Heads of the departments will meet to discuss the performance of RCL as a whole. They will assess the achievements of the organization since the last appraisal, causes for delay/ non-achievements, tonic measures, and the tasks for the organization till the next appraisal. 6. formulation and developmentTraining is the process of teaching new employees the basic skills they need to perform their jobs. On the other hand Management development way of life any attempt to improve current or future management performance by imparting knowledge, changing attitudes, or increasing skills. ? occasion During the Performance and Potential Appraisal, the training needs of individuals and departments will be identified. The HR head prepare a list of training needs and categorise them into Technical, autobusial, and Behavioral. He/ She will also pervade the days and dates of the various training programs to be organized in the next one year. The training programs should ideally begin after the recruitment process is over so that new employees can also be trained along with the regular employees of the organization. Kinds of Training The various trainings that will be imparted are as follows Training conducted by a society employee This type of training is essentially conducted by an experienced employee of RCL. It is conducted when some skills are to be ecstasyred to another person within the society or to train new employees. Training conducted by outside agenciesThis training is conducted when new skills are to be imparted to the employees of the organization. The HR department identifies agencies and experts who can impart relevant training. The HR department also has to arrange the training conducted in the organization or outside it. ? Training Impact Assessment Thus training and development programs play an important part in the fluid and effective functioning of the organization. The impaction of such progr ams on the functioning of the organization also assessed periodically. The responsibility of such assessment is of HOD-HR.The period of assessment is from one month to a year after the program has been conducted or on the spot assessment. Based on these assessments the organization decides to discontinue the particular program. It can also decide to change the flight simulator in order to improve the impact of such training. 6. Career planning & growth Career Planning is concerned with providing experiences that will enable employees to develop their full potential. Procedure RCL designs avenues for career planning and growth of the employees and its compensation package such as to deplume and keep the best managerial talent.Career planning and growth of the organization, take place through the following steps pic Career Planning Performance and Potential Appraisal is an extension of the employees accomplishments and his/ her potential Training and its applications show how quick ly he/ she is able to adapt to new roles and responsibilities. The employee have to take initiative in his/ her own career planning by setting targets for himself/ herself and suitably getting nominated for training in areas which he/ she needs to develop. Based on the above, management encourages career planning and growth for all the employees of RCL. Career step-up Career Growth depends upon the performance of the employee and the avenue open for him/ her in his/ her own or other departments due to exit of superiors. If the employee needs special skills to ask those positions, appropriate training arranged for him/ her. The Appraisal committee decides the promotion of the employee and indicates future avenues of growth. Promotion also takes place through transfer of employees from one department to the other or from one location of operation to another. The management consults the employee on whether such a promotion is acceptable to him/ her or not. Promotions The HOD HR pre pares the following letters at the end of the Appraisal Committee deliberations The above letters are approved by the MD and sent to the employee. 7. DIFFERENT TYPICAL HR FUNCTIONS sight IN RCL RCL authority provides opportunity to the students from different institutions, to take part in their internship program. This type of programs continues for 2- 3 months. As RCL is a demon organization in the area of capital market, there is ample opportunity for the students who engaged there for internship, to gather lots of practical experiences, which will be fruitful for their career.Another most comprehensive responsibility for the HR department of RCL. The executives of HR department in RCL are responsible to develop the personal files of different employees. For that they have to always keep close contract with every employee to collect their profile and to update their personal history, which are kept into a different format prescribed by the RCL authority. Its a common responsibil ity for all the departmental heads of Royal Capital Limited to give daily briefing to their executives about the particular responsibility for the day.For example the Trade Manager of RCL It involves discussions- it means that is an act of communication and the general objective of counseling is to understand and/or decrease an employees emotional disorder. Counseling is baffling in all aspects of the employer-employee relationship. 1. Analysis and gap between theory and practice After analyzing and comparing the literature with the functions and responsibilities of HR & Admin department of RCL it is found that RCL follows a well completed HR policy to recruit and to guide its human resource.But there are some gap between the theory and practice which need addressed to make its human resources more competitive and achieve organizational goals. Chapter 5 Recommendations & Conclusions 5. 1Key policy recommendations puzzle a strategic HR function ? Review the configuration and staff ing of the HR function to modify it into a strategic HR function. ? Develop a service improvement plan that reflects customer feedback and builds on the work started at the HR away day. ? Refocus the work of the HR team on the OD agenda and the refined HR outline and implement an associated development program for HR staff.Review and develop the HR strategy ? The HR strategy should capture the employer brand of RCL, and focus directly on achieving the vision and developing the required culture. ? Communications/ employee engagement and workforce development planning should be key strands. ? Review core values and develop the new vision into a practical strategy and change program that all staff can understand. Align Training and Development to OD ? Create a separate training and development department for the employees. ? Refocus corporate training and development to ensure that core training eflects and reinforces the OD agenda. Performance management ? Performance standards shou ld be defined in quantifiable and measureable terms which easily understood able to the employees of RCL. ? There should use the 360degree performance appraisal method to evaluate the performance of the employees. ? The employees should provide the feedback of performance appraisal so that they can improve their performance in future. 5. 2Conclusion Human resource management (HRM, HR) is the management of an organizations employees. An organization success is fully depending on proper personnel management.As a result, the organization can ensure the productivity by ensuring the proper human resource management. They provide better service facility to their employees, which in turn give the timely production and necessary activities effectively and efficiently without any hazard. It means the proper service facility and sound-working condition remains the whole organization. The stock market of Bangladesh as of today consists of stock exchanges such of Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) under Securities and Exchange Commission (SEC).In groundbreaking business world stock broker house plays a vital role for their client. This research report took an endeavor to identity the brokerage house human resource management practice and performance that took place within last decade with special emphasis on Royal Capital Ltd. Royal Capital Limited has a HR department with highly skilled professionals who are employed to achieve organizational goals. The successes of an organization fully depend on its human capital. So it needs to provide proper guidelines, training and continuous developing with the changes in the business world to achieve the market share and rganizational goals. References 1. Organizations web site. 2. HR manuals of Royal Capital Limited. 3. Dessler G. (2004), Human Resource Management, eleventh edition, Prentice Hall. 4. Management, Heinz Weigh rich, Harold Koontz 10th edition. 5. A b c d doubting Thomas N. Garavan, Pat C ostine, and Noreen Heraty (1995). Training and Development Concepts, Attitudes, and Issues. Training and Development in Ireland. Cengage Learning EMEA. pp. 1. ISBN 1872853927. 6. Derek Torrington, Laura Hall, and Stephen Taylor (2004). Human Resource Management. Pearson Education. pp. 363.ISBN 0273687131. 7. Web site, Wikipedia, the free encyclopedia. 8. Storey, J. (1995). sassy perspectives on human resource management. unused York Rutledge. 9. Beatty, R. W Schneier, C. E (1997). New Human Resources roles to impact organizational performance From partners to players. In D. Ulrich, M. R Losey & G. Lake (Eds), Tomorrows HR Management 48 sight leaders call for change, pp. 69-83. 10. Public sphere and Management Act (May 9, 2001), Advertising, Selection, Appointment, Transfer and Promotion, Employment Instruction Number-1,from http//www. ocpe. nt. gov. u/__data/assets/pdf_file/0008/9791/ei01. pdfpicpic picpic lowly executive senior administrator senior Executive Senior Executiv e Senior Executive Executive Junior Executive Executive Junior Executive Executive Junior Executive Executive Activities of RCL ? Stock Broking ? Cash Account ? Margin Account ? Internet Trading Service (ITS) trustworthy time trading facility in both DSE & CSE ? Xpress Settlement ? Any Branch Trading Facility ? Depository Service ? BO Account ? Demat Securities ? Pledge Functions of HRM ? HR planning. ? Recruitment, selection & placement Training & development ? Performance Appraisal ? Transfer ? Remuneration ? sociable security & welfare of employees. ? Setting general and specific management policy ? joint bargaining, contract negotiation and grievance handling. ? Staffing the organization. ? usage Analysis for job occupants. ? Job Rotation. ? gauge Circle, Organization development and Quality of works feel. ? Benefits Health care insurance Life insurance Disability insurance Retirement Voluntary accidental death and dismemberment insurance Leave Transfer plan Tuition Assistance Plan Training opportunities Junior Executive Executive Senior Executive Junior Executive Executive Senior Executive Junior Executive Executive Senior Executive GM Assistant Manager Assistant Manager Assistant Manager Assistant Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Chairman & Board of Directors Manager (HR) Manager (Compliance) Manager (C. C) Manager CDBL & Settlement) Manager (IT) Manager (Fin & Acc) Manager (Trade) Managing Director Assistant Manager Assistant Manager Assistant Manager