performance appraisal system of bank asia ltd. 2
TRANSCRIPT
Welcome To our
Presentation
Presentation On
PerformanceAppraisal System
of Bank Asia Ltd.
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Prepared For
Md. Arafater Rahman Bhuiyan
Assistant Professor & Chairman,
Dept. of Management
BUBT
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Prepared ByName ID Intake
NJ Madam Sweety 09103101001 22nd
Sheikh Mohammad Farshid 09103101012 22nd
Rashad bin Azim 09103101021 22nd
Afruza Sultana 10112101495 24th
Susmita Nandi 09102101227 21st
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Introduction Bank Asia Limited is a scheduled commercial bank in
the private sector established under the Banking Company Act 1991 and integrated in Bangladesh as a public limited company under the Companies Act 1994, on September 28, 1999. Bank Asia Limited is a new entrant in the private banking set-up of Bangladesh. The bank started its journey on November 27, 1999 when the Honorable Prime Minister, Sheikh Hasina open Bank Asia's corporate office at Rangs Bhaban, on the Old Airport road. Bank Asia has been launched by a group of successful entrepreneurs with recognized standing in the society. The initial paid up capital of the Bank is over Tk. 218.00 million. The management of the Bank consists of a team led by senior bankers with vast experience in national and international markets.
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Brief History of Bank Asia It set milestone by acquiring the business
operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. It again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank.
In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market's history and its shares commands respectable premium.
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Bank Asia Limited started its service with a vision to serve people with modern and innovative banking products and services at affordable charge. Being parallel to the cutting edge technology the Bank is offering online banking with added delivery channels like ATM, Tele-banking, SMS and Net Banking. And as part of the bank's commitment to provide all modern and value added banking service in keeping with the very best standard in a globalized world.
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Objectives of Bank Asia
Highly personalized service Customer driven focus Total commitment to quality Outstanding products Contribute in the economy Commitment to its clients at each level
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Mission of Bank Asia To assist in bringing high quality of
service to customers and to participate in the growth and expansion of our national economy.
To set high standards of integrity and bring total satisfaction to clients, shareholders and employees.
To become the most required bank in the country, rendering technology driven.
Innovative services by dedicated team of professionals.
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Vision of Bank Asia Bank Asia’s vision is to have a poverty
free Bangladesh in course of a generation in the new millennium, reflecting the national dream. The vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty.
Corporate slogan of Bank Asia Ltd. Is: “For a better tomorrow”
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Product & service Schemes & Special Features
Product & service Schemes Special Features
Mobile Banking Bonus Savings Schemes
Corporate banking
ATM Services Deposit Pension Scheme
Loan Syndication
Credit Card Double Benefit Plus Real- time online Banking
Internet Banking Triple benefit Plus
SMS Banking Monthly benefit Plus
Foreign Currency Account
Coverage Loan
Poverty improvement
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Strategies of Bank Asia Ltd.
To manage and operate the bank in the most efficient manner to enhance financial performance and to control cost of fund.
To strive for customer satisfaction through quality and control and delivery of timely services.
To identify customers credits and other banking needs and monitor their perceptions towards our performance in meeting these requirements.
To review and update policies, procedure and practices to enhance the ability to expand better services to customers.
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To train and develop all employees and provide them adequate resources so that customers needs can be responsibly addressed.
To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to all employees in a timely fashion.
To cultivate a working environment that fosters motivation for improved performance.
To increase direct contact with customers in order to cultivate a closure relation between the bank and its customers.
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HRM Functions of Bank Asia
Recruitment and Placement Training and Development Asserting Smooth Workflow in the Organization Performance Appraisal System. Supervise the Employees Offer Attracting Compensation and Benefit Packages Maintain the Daily Attendance Provide Intrinsic Benefit Review the Salary Structure Review and Propose the upcoming Budget Perform the Administrative Activities for Smooth
Functioning Create a Good Working Environment Implement the Disciplinary Action and so on.
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The Structure of HR Department in Bank Asia Ltd.
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Vice President- HR
AVP/Director of
Recruitment&
Employment
AVP/Director ofCompensation
&Benefits
AVP/Director of Training
&Developmen
t
AVP/DirectOr
EmployeeRelation
AVP/DirectorLabor
Relation
HRM System/Process of Bank Asia
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HRM Process
Human ResourcePlanning Recruitme
nt&
Selection
Training&
Development
Performance
Appraisal
Compensation&
Benefits
Promotion
GrievanceManagement
Definition of Management & HRM
Management can be defined as Organization & coordination of the activities of an enterprise in accordance with certain policies & in achievement of clearly defined objectives. Management is often included as a factor of production along with machines, materials & money.
Human Resource Management is the set of organizational activities directed at attracting, developing and maintaining an effective work force.
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Importance of HRM & it’s Function
1) Strategy2) Compensation3) Safety4) Liability5) Training & development6) Employee Satisfaction7) Recruitment8) Selection9) Compliance Functions: 1) Acquisition Function 2) Training & development 3) Motivation 4) Maintenance 18
Principles of HRM 1. Treat People with respect & dignity. 2. Treat people as adults. 3. Deal with people as complete individuals. 4. Treat employees with justice. 5. Provide people with opportunities for growth &
development. 6. Make people feelings that they are important. 7. Reward should be earned, not given. 8. Do not underestimate the potentials of people. 9. Supply people with all relevant information. 10. To maintain proper communication. 11. To create a sense of belongingness. 12. Proper use of potentiality. 13. Marinating a labor between stability & flexibility.
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Benefits of Performance Appraisal
Performance appraisals can be used to:
• Make employment decisions such as determining pay and promotions.
• Identify professional development needs.
• Identify factors in the work environment that help or hinder performance effectiveness.
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Performance Appraisal System/Process of Bank Asia
Performance appraisal system (PAS) is the tool for measuring the performance of an individual and identifies the gaps and plan future development in order to enable a better performance between the jobs and the incumbent.
Performance appraisal system is quite structured that it can measure of assess both goal (What) and the management competencies (How).
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The BAL follows both rating and descriptive systems for the performance appraisal. Although, the appraisal system is non-participative, the employees are annually assessed by a joint consultation with their immediate supervisors and departmental heads. Rating is mainly done on the following factors:-
=>Knowledge of work =>Accuracy and Reliability => Speed => General Intelligence => Sense of Responsibility and Duty => Diligence => Initiative and Self confidence => Readiness to work for and with others. => Indication key job responsibilities/ Targets/ Work
plan of the employee for the year. => Performance on the Job => Knowledge Level
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Performance Appraisal Policy
Performance appraisal process is conducted by the HR Division. So the policy is also made by the Human Resources Division to conduct this process smoothly and clearly. There are many facilities and incentives are provided to the employees of the bank and these are considered as the appraisal policy.
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Practices of compensation in Bank Asia Ltd.
Employee compensation refers or all forms of pay or rewards going to employees and arising from their employment. Thus compensation means what employee receives in exchange for their work.
Benefits are indirect financial payments given to employees. They may include health and life insurance, vacation, pension, education plans, and discounts on company products, or instance.
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Various Compensation dimensions of Bank Asia
House Rent Leave with Pay (staff) Children’s education facility Home furnishing allowances House loan Sick leave Materiality leave Ordinary leave
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Promotion Promotion is defined as a movement to a
position in which responsibilities and prestige are increased. This is basically done based on the extraordinary performances of the employees who deserve to promote his/her current rank in a better position in the organization. Promotion satisfies the needs of human beings in the organization. Since the promotion depends upon capabilities and good performance, people will try for that if the venues for promotion exit.
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Objectives of Promotion Following are the objectives of promotion Reward of good employee. Recognition of outstanding achievements. Meet the career objective of an
employee. Attract and retain right talents in the
organization. Improve morale, motivation and, job
satisfaction of employees. Empowerment of employees through
competence, interest and commitment.27
General Promotion Policy
Promotion policy is the guidelines of promoting employees within the organization. Policy varies with organization.
Some criteria requiring policy of promotion
are given below: Length of service Weight age on seniority Procedure for promotion. Responsibility allocation to department to
initiate and handle cases of promotion.28
Rating Procedure of Bank Asia Ltd.
Criteria Points
ACR 40
Academic Qualification 45
Banking Diploma Certificate 05
Training Received 05
Length of Service 05
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Points
ACR
Academic Qualifica-tion
Banking Diploma Cer-tificate
Training Received
Length of service
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Data Analysis Frequency
Gender
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Gender Frequency Percent Valid Percent
Cumulative Percent
Male 11 73.3 73.3 73.3
Female 4 26.7 26.7 100.0
Total 15 100.0 100.0 100.0
In this Study, 75% respondent were male where rest of the others were female in the
organization.
Gender
MaleFemale
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Frequency
Practices of formal performance appraisal system in Bank Asia Ltd.
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Valid Frequency
Percent Valid Percent
CumulativePercent
Yes 15 100.0 100.0 100.0
we have found that performance appraisal system is well practiced in the Bank Asia Limited.
Yes0
20
40
60
80
100
120
FrequencyPercentValid PercentCumulative Percnt
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Frequency
Employee point of view of Performance Appraisal
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Valid Frequency
Percent Valid Percent
CumulativePercent
Yes 15 100.0 100.0 100.0
We have found that almost every employees of BAL agrees to practices the essentiality of Performance Appraisal System with in every department of the organization to increase the efficiency of every aspect.
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Yes0
20
40
60
80
100
120
FrequencyPercentValid PercentCumulative Frequency
Frequency
Assessment of Employee Performance
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Valid Frequency Percent Valid Percent
Cumulative frequency
Yes 13 86.7 86.7 86.7
No 2 13.3 13.3 100.0
Total 15 100.0 100.0
we have found that Performance Appraisal System gives a proper assessment of employee’s performances to the organization.
Yes No Total0
20
40
60
80
100
120
FrequencyPercentValid PercentCumulative Frequency
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Frequency
Impact on Performance Appraisal on Employees.
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Valid Frequency
Percent Valid Percent
Cumulative Frequency
StronglyAgree
3 20.0 20.0 20.0
Agree 11 73.3 73.3 93.3
Moderate 1 6.7 6.7 100.0
Total 15 100.0 100.0
We have found that almost everyone agrees that they are really motivated by the PAS and it has a great impact on employee’s performances, some of the respondents strongly agree that the impact of PAS on
employee’s motivation level is numerous.
Stro
ngly A
gree
Agre
e
Mod
erat
eTo
tal
050
100150200250300350400450
FrequencyPercentValid PercentCumulative Percent
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Frequency
Performance Appraisal System Vs. Expectation
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Valid Frequency Percent Valid Percent
Cumulative Frequency
Sometimes 10 66.7 66.7 66.7
Often 5 33.3 33.3 100
Total 15 100.0 100.0
We have found that in BAL most of the employees (60 percent) find current Appraisal system meeting their
expectation when some of them disagree with the statement.
Some-times
Often Total0
20
40
60
80
100
120
FrequencyPercentValid PercentCumulative Frequency
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Major Findings of Analysis Employee’s perception about PAS is very positive in BAL. The appraisal system facilitates growth & learning of employees
and it moderately distinguishes performers and non performers in the organization.
Existing PAS helps the management to identify potentiality of the employees.
The PAS criteria are well communicated with all stakeholders related with PAS.
No training facilities for ground level employees. It’s difficult to understand PAS for some of the employees. Miss match between employee’s expectation and current PAS
practicing in BAL. Confusing and conflicting aspect of PAS creating
miscommunication among management level to various levels of employees.
Majority of the employees are not significantly satisfying about the current PAS.
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Recommendation
Appraising method should be unbiased and real performer should be appreciated based on his or her performance evaluation.
New performance appraisal such as 360 degree should be introduced.
Training facilities should be given to all level of employees Evaluation result should be disclosed to all the employees. Promotion should be based on performance rather than
seniority or other. The aims and Objectives of performance appraisal need to be
well communicated from top level to bottom level management.
Monetary incentive should be improve. HRD need to be more modernized and resourceful for
conducting performance appraisal.
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Conclusion
Banking industry is to be expected for a country. Bank mobilizes savings helps the operation of trade and business, participates in the economic development activities and so on. Banking evolution happens to keep pace with the advanced stage in social development.
The bank should care again in manpower and its capital to use these in such a way that will produce a maximum output in future and motivated the client and investor for deposit and investment. The bank should take care to reduce unnecessary expenses. If the bank keeps its expenses at satisfactory level it produces a maximum output in future.
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That is all about
OurPresentation.
Thank you All.