LETTER OF TRANSMITTAL
Date: July 04, 2011
Prof. Dr. Zeennat Ara Begum
(Internship Supervisor)
Lecturer
Department of Business
Administration,
Subject: Submission of Internship Report.
Dear Madam,
I am pleased to submit hereby the
Internship report of “Overall Human
Resources Management Planning & Practices in International Leasing &
Financial Services Limited”
for your kind evaluation. To prepare this report, I have given my best effort
that would enhance the project report.
This report
attempts to describe my observations, learning during the study this course.
I made sincere
efforts to study related materials, documents, annual report and operational
systems of ILFSL Ltd. and examine
relevant records for preparation of the Internship paper as comprehensive and
informative as possible within the time allowed for me. Due to various there
may be some mistakes for which I beg your apology.
I would be
glad if you accept the term paper and also requesting to consider limitations
with a soft view that had made due to my limitations and oblige thereby.
With the best regards,
__________________
Md. Ghulam Murshed
ID No.: BBA 201110318
Batch: BBA, 41st
Program: BBA
Human Resource Management
Department of Business Administration.
Student’s Declaration
I am Roksana Noor student of Master of
Business Administration (BBA), 32nd batch,
ID No: MBA 032 08768, from Siddeshwary Campus, declare
that this Internship report on International Leasing & Financial Services Limited
Titled “Overall Human Resources
Management Planning & Practices in International Leasing & Financial
Services Limited.” of
______________________
Md. Ghulam Murshed
ID No.: BBA 201110318
Batch: BBA, 41st
Program: BBA
Human Resource Management
Department of Business Administration.
Supervisor’s Declaration
This is to certify that the Internship report on International
Leasing & Financial Services Limited. Titled “Overall Human Resources Management Planning &
Practices in International Leasing & Financial Services Limited.” has submitted for the award of Master of Business Administration with major in “Human Resource
Management” from Asian University Bangladesh carried out by Roksana Noor, 32nd
batch bearing ID No. BBA 201110318
under my supervision. This report is free from
plagiarism.
She is permitted to submit the Internship report.
___________________________
Prof. Dr. Zeennat Ara Begum
(Internship Supervisor)
Lecturer
Department of Business
Administration
Acknowledgment
The theoretical
knowledge that is gathered form the Educational institution is not sufficient
to aware the subject matter rather the practical knowledge. In order to resolve
the dichotomy between these two areas, I was assigned to prepare a report on “Overall
Human Resources Management Planning
& Practices in International Leasing & Financial Services Limited.”
I, Roksana Noor, First
of all, would like to express my gratitude to almighty Allah for keeping me
mentally and physically sound to prepare this report. I would also like to
express my heartiest gratitude & thanks to those people, because without
their dedication and contribution this project would not have been possible and
would not get the successful compellation.
I would like to
take the opportunity to express my gratitude to my Internship advisor, Prof. Dr. Zeennat
Ara Begum, Internship
Supervisor & Lecturer, Department of Business Administration, Stamford University
I would also
like to thank Mr. Mustafizur Rahman, Managing Director, for his continuous
support & inspiration regarding completion lf my Internship report.
I would also
like to pay my gratitude to Mr. Christopher
R Gomes (Asst. Manager), Ms. Shahana Akter (Executive), for their endless
cooperation & priceless suggestion.
Finally, I
humbly appreciated the endurance & assistance of the entire individual at International
Leasing & Financial Services Limited who spent their time in making me able
to complete my Internship Report.
Executive
Summary
This research report is a partial requirement of the
Internship phase of MBA program, Stamford
University , Bangladesh Bangladesh . ILFSL is an economic institution whose main
aim is to earn profit through exchange of money & credit instruments by
providing satisfactory services to the customers. It is a service oriented as
well as profit oriented organization.
At first I have highlighted the general
introduction about the International Leasing & Financial Services
Limited. Secondly I have discussed about the leasing
sectors & the profile of ILFSL. & I briefly discussed about the Understanding
the procedure of Recruitment, Selection, Training, Bonus, and Leave facilities. I
have completed my Internship in the Head Office of International Leasing
& Financial Services Limited. During my Internship period I found here a
good job environment and also got a lot of cooperation from every department
and every person. I found that ILFSL gained success very early because they
have a very strong backup to provide financial as well as administrative
support.
In this aspect
my reports covers the HR-policy & Practices in ILFSL. In this report I have
showed the current process of performance Management and all issue of
HR-practice of the company. I have tried to my level best to describe the
entire HR system elaborately in this report from my practical experiences in
the organization. Through proper analysis, I have tried to find out the actual
situation and problems. I have given my recommendations.
Table of Content
PAGE
|
||||
Latter of Transmittal
|
i
|
|||
Student’s Declaration
|
ii
|
|||
Supervisor’s Declaration
|
iii
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|||
Acknowledgement
|
iv
|
|||
Executive Summary
|
v
|
|||
List of Abbreviation
|
vi
|
|||
Table
of Content
|
vii
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|||
Chapter-01: Introduction:
|
01-05
|
|||
1.1
|
Statement
of Problem
|
2
|
||
1.2
|
Scope
of the Study
|
2
|
||
1.3
|
Objectives
of the Study
|
3
|
||
1.3.1
|
Broad
Objectives
|
3
|
||
1.3.2
|
Specific
Objectives
|
3
|
||
1.4
|
Methodology
|
4
|
||
1.4.1
|
Primary
Data Source
|
4
|
||
1.4.2
|
Secondary
Data Source
|
4
|
||
1.5
|
Limitations
|
5
|
||
Chapter-02: Profile of ILFSL
|
6-32
|
|||
2.1
|
Historical Background
|
7
|
||
2.2
|
Corporate
Information
|
8
|
||
2.3
|
Vision of ILFSL
|
9
|
||
2.4
|
9
|
|||
2.5
|
Strategic Objective
|
9
|
||
2.6
|
Core values
of ILFSL
|
10
|
||
2.7
|
Historical
Milestones
|
11
|
||
2.8
|
Organizational
Structure of ILFSL
|
12
|
||
2.9
|
13
|
|||
2.10
|
Board of
Directors
|
14
|
||
2.11
|
About the
Company
|
21
|
||
2.11.1
|
International
Leasing & Financial Services Limited
|
21
|
||
2.11.2
|
International
Leasing Securities Limited
|
23
|
||
2.12
|
Shareholders
& Shareholding Structure
|
26
|
||
2.13
|
Financial Performance-2010
|
27
|
||
2.14
|
Operational Performance-2010
|
28
|
||
2.14.1
|
Major Components of Revenue are as under
|
28
|
||
2.14.2
|
Stock
Brokerage
|
29
|
||
2.14.3
|
G & A Expenses
|
29
|
||
2.14.4
|
Financial
Expenses
|
30
|
||
2.14.5
|
Operating Cash Flow
|
31
|
||
2.15
|
Economic Outlook
|
32
|
||
Chapter-03: Understanding The HRM & HR Planning & Forecasting
|
33-41
|
|||
3.0
|
Understanding The HRM
|
34
|
||
3.1
|
General Concept of HRM
|
34
|
||
3.2
|
Objectives of HRM
|
35
|
||
3.3
|
Basic Principles of HRM
|
35
|
||
3.4
|
Approach of HRM
|
36
|
||
3.5
|
Philosophy of HRM
|
36
|
||
3.6
|
Standard Organgram of
HR Department In A Large Organization
|
37
|
||
3.7
|
Responsibilities of HR Department In ILFSL
|
38
|
||
3.8
|
Concept of HR Planning & Forecasting
|
38
|
||
3.9
|
Steps of HR Planning
|
39
|
||
3.10
|
Forecasting HR Needs:
|
40
|
||
3.11
|
Forecasting The Internal HR Supply
|
41
|
||
3.12
|
Forecasting The External HR Supply
|
41
|
||
3.13
|
Practices In the Leasing Company
|
41
|
||
Chapter-04: Human Resources Management Policy of ILFSL.
|
42-82
|
|||
4.1
|
Introduction:
|
43
|
||
4.2
|
Historical Background
|
44
|
||
4.3
|
Why Human Resource Policy
|
44
|
||
4.4
|
Basis of Present Human Resource Policy
|
45
|
||
4.5
|
Objectives of Human Resource Policy (ILFSL)
|
46
|
||
4.6
|
Components of Human Resource Policy
|
46
|
||
4.7
|
Responsibility of HR Management
|
47
|
||
4.8
|
Recruitment Policy
|
48
|
||
4.8.1
|
Objectives of Recruitment Policy
|
48
|
||
4.8.2
|
General Requirements For All Grades
|
48
|
||
4.8.3
|
Qualification And
Procedure For Recruitment
|
49
|
||
4.8.4
|
Verification of Certification
|
50
|
||
4.8.5
|
Verification of Past Service Records, Etc of Lateral
Entrants
|
50
|
||
4.8.6
|
Disqualification
For Recruitment
|
50
|
||
4.8.7
|
Re-Employments
|
51
|
||
4.8.8
|
Vacancies
|
51
|
||
4.8.9
|
Eligibility To Apply
|
51
|
||
4.8.10
|
Requirement
Analysis By Respective Department
|
52
|
||
4.8.11
|
Approval of
The Requirement
|
52
|
||
4.8.12
|
External Sources
|
53
|
||
4.8.13
|
Minimum Notice Period
|
54
|
||
4.8.14
|
Cost Associated With Interview of Candidates
|
54
|
||
4.8.15
|
Composition of The Recruitment Board
|
54
|
||
4.8.16
|
Salary Negotiation
|
54
|
||
4.8.17
|
Reference Checks
|
55
|
||
4.9
|
Selection
|
56
|
||
4.9.1
|
Screening of Applications
|
56
|
||
4.9.2
|
Compile A Recruitment Board
|
56
|
||
4.9.3
|
Interview
|
56
|
||
4.9.4
|
Short-Listing of Application
|
57
|
||
4.9.5
|
On-Discrimination
|
57
|
||
4.9.6
|
Disqualification of Repeat Applicants
|
57
|
||
4.9.7
|
No Objection From Current Employer
|
57
|
||
4.9.8
|
Other Interest outside Employment
|
58
|
||
4.9.9
|
Internal Recruitment Process
|
58
|
||
4.9.10
|
Terms & Conditions of Employment
|
59
|
||
4.9.10.1
|
Working Hours
|
59
|
||
4.9.10.2
|
Public Holidays
|
59
|
||
4.9.10.3
|
Probation
|
59
|
||
4.9.10.4
|
Confirmation
|
59
|
||
4.9.11
|
Termination of Employment
|
60
|
||
4.9.11.1
|
Termination
|
60
|
||
4.9.11.2
|
Discharge
|
60
|
||
4.9.11.3
|
Exist Process
|
61
|
||
4.9.11.4
|
Dismissal
|
62
|
||
4.9.12
|
Retirement
|
63
|
||
4.9.13
|
Duties &
Responsibilities
|
63
|
||
4.9.14
|
Confidentiality
|
63
|
||
4.10
|
Compensation
|
64
|
||
4.10.1
|
Remuneration &
Benefits
|
64
|
||
4.10.1.1
|
Remuneration
|
64
|
||
4.10.1.2
|
Festival Bonus
|
64
|
||
4.10.1.3
|
Performance Bonus
|
65
|
||
4.10.1.4
|
Eligibility
|
66
|
||
4.10.1.5
|
Gratuity
|
66
|
||
4.10.1.6
|
Critical Illness
Bonus
|
67
|
||
4.10.1.7
|
Medical
|
67
|
||
4.10.1.8
|
Leave
|
68
|
||
4.10.1.9
|
Annual Leave
|
68
|
||
4.10.1.10
|
Sick Leave
|
68
|
||
4.10.1.11
|
Maternity Leave
|
69
|
||
4.10.1.12
|
Absence Without
Leave
|
69
|
||
4.11
|
Performance
Appraisal
|
70
|
||
4.11.1
|
Performance & Monitoring
|
70
|
||
4.11.2
|
Promotion Policy
|
70
|
||
4.12
|
Training &
Development Practice of ILFSL
|
71
|
||
4.12.1
|
Over view of training
|
71
|
||
4.12.2
|
Motivation
|
72
|
||
4.12.3
|
Training
|
72
|
||
4.12.4
|
Basic objectives of training & development
|
73
|
||
4.12.5
|
Importance of training & development
|
74
|
||
4.12.6
|
Training & Development
|
74
|
||
4.12.7
|
Functions
of HRD Section
|
74
|
||
4.12.8
|
Responsibility
|
75
|
||
4.12.9
|
Steps
of training & development
|
75
|
||
4.12.9.1
|
One
the Job Training
|
75
|
||
4.12.9.2
|
Off the Job Training
|
76
|
||
4.12.9.3
|
Staff development
|
77
|
||
4.12.10
|
Training
of ILFSL
|
77
|
||
4.12.11
|
Training for ILFSL
employees
|
78
|
||
4.12.12
|
Training
& development of ILFSL
|
79
|
||
4.12.13
|
Objectives
of the training & development plan
|
79
|
||
4.12.14
|
Types
of training program
80
|
80
|
||
4.12.15
|
Training
techniques of ILFSL
|
80
|
||
4.12.15.1
|
Freshmen
Orientation
|
80
|
||
4.12.15.2
|
Continuous Orientation
|
81
|
||
4.12.15.3
|
On
the Job Training
|
81
|
||
4.12.15.4
|
Off the Job Training
|
81
|
||
Chapter-05: Analysis and Findings
|
83-90
|
|||
5.1
|
Analysis
|
84
|
||
5.2
|
SWOT Analysis
|
87
|
||
5.2.1
|
Strength
|
87
|
||
5.2.2
|
Weakness
|
88
|
||
5.2.3
|
89
|
|||
5.2.4
|
Threat
|
89
|
||
5.3
|
Findings
|
90
|
||
Chapter-06: Recommendation & Conclusion
|
91-94
|
|||
6.1
|
Recommendation
|
92
|
||
6.2
|
Conclusion
|
94
|
||
Bibliography
|
95-96
|
|||
Appendix
|
97-98
|
|||
Questionnaire
|
99-101
|
|||