Functions & Responsibilities of Hr & Admin Department of Rcl

Chapter 1 base 1. Background of the bill subsequently completion of MBA program students convey to do internship in an shaping for the ful busyment of the Degree. Internship program occurs an opportunity of learning the real operateing dynamics and apply knowledge of Business Administration. I complete my M. B. A program from projecte section of commission Studies, University of Chittagong. To complete the academic obligatory I did my internship at HR discussion section of imperial superior moderate.My internship topic was functions &038 responsibilities of HR and Admin division of proud superior moderate. This tonics report is prepargond to cogitate on the functions and responsibilities of HR and Admin de disassociatement of violet superior Limited. 1. 2Rationale of the report Internship program is the part of MBA program which gives a backcloth to MBA students to prepargon a study report focusing event to problematic issues of direction of the boldnes s. It is an opportunity to gather practical knowledge and funk the gap between theoretical and practical knowledge.It in whatever case gives opportunity to the prox managers to deal with practical problems and give solution in real transmission line biography. I did my internship in kinglike detonator Limited which is a leadership equity negotiateage ho engross in the country. My internship report is found on the practical association through working at the HR subdivision of the comp completely(a) told. 1. 3Objectives of the report The main objective of this report is to ful make the academic petitionment as well up as the next objectives To understand the tender psychogenic imagery precaution exercises. To throw away a clear picture of the prefatory HR functions. To determine the clear picture of HR coiffes in RCL. To analyze the exertion of the HR &038 Admin department of RCL. 1. 4Methodology and Data nailion The report is prep atomic add up 18d on the basis of image and discipline collection through direct centering at the work model. The methodology sticked for the pattern of the study has been desk look for as well as field survey. The desk research method has been followed to review the real literature on the subject. Both primary and imprimaturary data were composed to prep ar the report.The main sources of the primary data to prep be the all(a)iance pen and its coiffureance had been collected from presidential terms web site and the come to with HR motorbus of Royal detonating device Limited and secondary data collected from the web site and books for the purpose of preparing the literature part. 1. 5Scope of the report The report is prepared on the basis of direct supervision and collection and summary of primary and secondary data. It tenders assertation of a successful broker house, its blueprint and prospect of HR and Admin department.It post guide and give complete estimation to a learner and invitees about(predicate) broker house and its activities. This report alike leads gridlines to a learner about practice of HR and functions and responsibilities of HR and admin department. 1. 6Limitations of the report The study has been conducted subject to certain limitation. The rate of success of my study may be limited as I might have failed to collect proper information due to lack of my experience, some(a) data could non be supp stayd for their confidentiality and official secrecy. The secondary sources of data were non available and well organized.In rundown to the preceding(prenominal), RCL is a private limited comp any(prenominal), which does not does not set aside with all in all the necessary information as strike due to their sensitiveness and militantness in regard to its competitors. In spite of these limitations, I have tried my dress hat to pinpoint various findings of this company. I, therefore, hope that the study reserve be evaluated sub ject to the recognition of the above limitation. 1. 7MY WORKING AREA As I complete MBA program major in HRM from department of way Studies, University of Chittagong my interest was to know the HR practice in real life in the faces.I got the opportunity to work in the HR department of Royal uppercase Limited under HOD-HR manager. My internship topic was functions &038 responsibilities of HR &038 Admin department of Royal Capital Limited. My governing body supervisor divine emoluments me to closely work with the functions and responsibilities perform by them to successful continuation of a company in the competitive railway line environment. Chapter 2 Company Overview 2. 1Royal Capital limited Royal Capital Limited is a leading equity brokerage house in the country.It has diverse clientele of institutions, high net worth persons, foreign m mavintary election and retail investors which help to success in the merchandise. Royal Capital Limited was established in 1995 and ove r eon become star of the jumbost trite broking companies in the country. Side by side it has overly dealership licences. Its a member of Dhaka and Chittagong hold replacement. Its authorized capital is TK cl million paid-up capital is TK 65 million. in that respect are 12 offices and branches of Royal Capital Limited situated in Dhaka, Chittagong, Feni, Jessore, Bogra and Khulna.Its corporate drumhead office is located in Chittagong. Its number of employees is 110. The number of benefactive role proprietor beak holders is 37,112. Its daily h 1st rescindover is US $ 1. 7 million. The commercialize percentage of Royal Capital Limited is 1. 20%. Royal Capital Limited is a amazeory participant of important Depository Bangladesh Limited. Mr. A. Q. I Chowdhury, OBE is the chairman of the company, a prominent business privateity of the country. He has a good track platter of running the manufacturing and good oriented transnational company like James Finlay Plc for the last 20 years.He was awarded by Her excellence Queen Elizabeth II the Order of British Empire (OBE) for his contribution to the participation and ethical business. Under his leadership a young dedicated, skilled master copy team up has been lift to render the service as required by customers. 2. 1. 1Mission The mission of Royal Capital Limited is to develop the company into an nonpareil and antique m superstar(a)tary institution by providing excellent financial service to its customers. 2. 1. 2Objectives of Royal Capital Limited Success of an investor depends on good dread of market, certain information, sound fund solicitude and danger planning.Royal Capital Limited is the right place to develop all those services. It has already gained confidence of Investors of all class for its sincere efforts to assist client in every(prenominal) attainable way. Objectives of Royal Capital Limited are as follows ? To help client understand investment choices. ? To provide cartrid ge holderly narration and transaction information that accurately reflects the investment conditions of the client. ? To Build and justify clients trust. ? Provide clients with frank, cartridge cliply feedback on how we are doing and how we piece of tail mitigate our service to clients. 2. 1. 3ManagementRoyal Capital Limited has a policy devising body which consists of 7 members of whom 2 are elected. The board comprises of whizz head, one Managing Director, cardinal directors and 2 members. It has provision for 23,000 clients. The executive power of RCL is vested with the Department autobus. 2. 1. 4Sister c formerlyrns The followings are the concern business of Royal Capital Limited ? Royal backup International ? Royal Cuisine ? Royal Garden. 2. 2Major businesses and product divisions As a broker house Royal Capital Limited perform following activities ? Brokerage professivitiesRoyal Capital limited provides work execution activities for clients in Dhaka and Chittagong Stock Exchange under Securities &038 Exchange Commissions Law. ? Dealer news report The SEC Act defines a dealer as someone who is prosecute in the business of buying and selling securities for his own flyer that would require their registration as a dealer under SEC Act. too Royal Capital limited has a dealer Account, see empurpled CAPITAL LTD. B. O ID 1201590000001005. ? Stock Broking Account The affect of investing in the allocate market, both individually or through a broker is cognize as linage broking.Stock broker is alike an individual who makes stock trades on behalf of his or her clients. ? Margin Loan Margin loans are interpreted to finance the purchase of securities, usually the purchase of stock ( alike known as equity). Margin loans normally are extended by the same financial services firm (stock brokerage firm or securities firm) that the customer uses to trade in the security in question. The maximum value of a adjustment loan relative to the value of the underlying securities is set by the SEC. from apiece one(prenominal) firm is free to implement more stringent lending policies than positive by the SEC. Margin Loan Activities &038 Agreement of RCL In this segment Royal provide ii kinds of A/C Cash This type of account asks to client deposit cash and hence client give the bounce use that cash to buy stocks, bonds, mutual funds or different investments. integrally some ms client flowerpot take loan for buying securities, its providing for short epoch. Its too called unauthorized loan. Margin With a bank account the broker lends a plowshare of the funds at the quantify of purchase and the security acts as collateral. The loan in the account is collateralized by the securities and cash.If the value of the stock drops sufficiently, the account holder go away be required to deposit more cash or sell a portion of the stock. ? Margin Call A broker demands an investor using margin to deposit additional silver or securiti es so that the margin account brought up to the minimum maintenance margin. Margin calls occur when an account value depresses to a value calculated by the brokers particular formula. This is sometimes called a federal official call or maintenance call. ? Margin facilities of Royal Capital LimitedA financial institution moldiness have some written guidelines on the credit blessing process and the approval regime of individuals or deputations as well as the basis of those decisions. Royal Capital Limited provides credit facilities to the customer as per Margin Rules, 1999. ? Margin peril Management Process Margin risk management process should tail the entire margin cycle startleing from the origination of the margin in a financial institutions books to the point the margin is do away with from the books. ? Internet Trading Service (ITS) This is a border less traffic system.Investor who have access to internet take part in share market from any part of the terra firma, and muckle do his own buy-sale at own pace. Investor interested to may be able to log on to www. bangladeshtockmarket. com to get all the relevant information on the Internet duty and as well as for trading. ? Real time trading facility in two Dhaka &038 Chittagong Stock Exchanges A client fecal matter trade any bourse simultaneously from any of our branches. ? Xpress Settlement On selling shares through Xpress shutdown cheque is issued on the same twenty-four hour period &038 not on the swap payout date.This money can then be withdrawn contiguously. ? Any start Trading Facility RCL is big(p) any branch trading facility to its client. ? Depository Service A depository is an organization formed to provide electronic depository facilities to share holder under prevailing honor 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 Securiti es and Exchange Commission of Bangladesh (SEC).RCL is among the few Depository Participant (DP) in the country and the beginning(a) DP who started related service right from introduction of this in the country. ? Beneficiary Owner (BO) Account A BO account is mandatory for applying IPO 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 process of converting physical securities in electronic form. RCL is trusted 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. ? Research Activities This is one of the issues that the Royal Capital Limited management was very much skillful about and wherefore put due emphasis according to the command of the capital market. Stock business is information based. Right information at the right time in the ri ght place is the shopping centre of the game. So RCL publish some very informative and analytical publications intended to help explore the financial action of the call for uped organization so that the client can take wise investment decision. . 3Board of directors Chairman Mr. A Q I Chowdhury, OBE chief operating officer &038 MD- Mr. Munir Ahmed Director- Ms Jesmin Islam Chowdhury Director- Mr. Sami Chowdhury Director- Mr. Saadi Chowdhury SWOT Analysis of Royal Capital Limited imperious Negative Strength(s) Weakness(w) Internal Good volition. Inadequate IT system. Factors Credibility. Lack of trained ersonnel. Strong financial condition long financial choice. Absence of risk management estimate. wanting(p) research and breeding. Efficient and experience management team. Lack of strategical planning. egg on service. Transparency. Never a default to client and to DSE, CSE and CDBL. Opportunity(O) Threats(T) External Immense scope to increase tra de. Entry of new 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 1st April 1995. Member Registered No Dhaka Stock Exchange Ltd. enrolment No. 3. 1/Dse-21/2006 Chittagong Stock Exchange Ltd. Registration No 3. 21/CSE-121053 Authorized capital BDT 150 million. Paid up capital BDT 65 million. No. of Offices &038 sectiones 12 No. of employees 110 Number 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 &038 MD Mr. Munir Ahmed Administration 07 members Board of Directors musical arrangement Address Corporate OfficeFinlay House (Ground Floor), Agrabad C/A, Chittagong, Bangladesh. Chapter 3 literary works Review 3. 1 tender imagination Management HRM involves all kind of decisions related with tender resource. HRM can be define as a particularized compounding of HR practices, work structures and process that maximizes employees knowledge, skill, commitment and flexibility. Storey (1995) defines HRM as a distinctive approach to employment management which seeks to obtain competitive favor developed showing how HRM practices leads to overall corporate transaction.According to Khatri (1999), wad are one of the most important factors providing flexibility and adaptability to organizations. Rundle (1997) argues that one withdraws to ante up in mind that people (managers), not the firm, are the adaptive mechanics in determining how the firm volition respond to the competitive environment. several(prenominal) scholars have noted that managing people is more difficult than managing technology or capital (Barney, 1991 Lado and Wilson, 1994). 3. 1. 1Human imagery Management Nature Human alternative Management is a process of bringing people and organizations together so that the terminals of for each on e are met.HRM practices refer to organizational activities directed at managing the pool of compassionate resources and ensuring that the resources are employed towards the fulfillment of organizational goals (Schuler &038 Jackson, 1987 Schuler &038 MacMillan, 1984 Wright &038 Snell, 1991). Redman and Matthews (1998) identify an HRM bundle of place practices which support service organizations quality strategies, these being ? Careful recruitment and filling, for example, derive quality recruitment, zero defects recruitment, right first time recruitment. ? Extensive remuneration systems, for example, bonuses available for ply forgeting to be multi-skilled. Team working and flexible play design, for example, encouraging a hotshot of cohesiveness and designing empowered put-ons. ? procreation and learning, for example, front line mental faculty having enhanced inter individualised and social skills. ? Employee involvement, for example, keeping employees informed of key cha nges in the organization. ? consummation judgements with links to contingent reward systems, for example, gathering customer feedback to signalise the work by employees over and above their expected duties, which in turn is likely to lead to a bonus for module. 3. 1. 2Human Resource Management ObjectivesHuman Resource Management (HRM) is about matching employment practices to an organizations system, according to Hendry (1999, p. 3). In Torrington, Hall and Taylors (2008) opinion, its objectives are to stop that organizations are well runged and that those employees are well treated, motivated and committed to their work to provide best exertion. ? To help the organization reach its goals. ? To visualise effective workout and maximum organic evolution of human resources. ? To ensure respect for human beings. To identify and satisfy the needs of individuals. To ensure reconciliation of individual goals with those of the organization. ? To strain and husband high morale a mong employees. ? To provide the organization with well-trained and well-motivated employees. ? To increase to the fullest the employees labor cheer and self- unfeignedization. ? To develop and maintain a quality of work life. ? To be ethically and socially responsive to the needs of order of magnitude. ? To develop overall person-to-personity of each employee in its multidimensional aspect. ? To enhance employees capabilities to perform the pre displace line of products. To equip the employees with precision and clarity in transaction of business. ? To inculcate the sense of team spirit, team work and inter-team collaboration. 3. 1. 3The HRM Department is liable for ? Understanding and relating to employees as individuals, thus identifying individual needs and public life goals. ? Developing positive interactions between workers, to ensure collated and structural enterprise productivity and development of a uniform organizational culture. ? rate areas that suffer lack of knowledge and insufficient re labor, and accordingly provide curative measures in the form of workshops and seminars. Innovate new operating practices to minimize risk and generate an overall sense of belonging and accountability. ? Recruiting the required workforce and making provisions for expressed and promised payroll and benefits. ? Implementing resource strategies to subsequently create and move competitive advantage. ? Empowerment of the organization, to successfull meet strategic goals by managing lag effectively. ? The human resource department also maintains an open demeanor to employee grievances.Employees are free to approach the human resource team for any conceived query or any form of on-the-job stress that is bothering them. ? Performance of employees is also actively evaluated on a regular basis. Promotions are conducted and are predominantly based on the overall performance of the individual, accompanied by the yoke or tenure he has served the organization. The Human resource department also looks at the possibilities of the employee migrating from one job to another, maintaining the hierarchy in the company and considering the constancy of smirch and the lucre obtained over a period of time. 3. 2Functions of HRMThe Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding the staffing needs of an organization and whether to use independent fightors or hire employees to fill these needs, recruiting and study the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices line up to various regulations. Human resource department of an organization consist of all human resource management functions. Job Analysis Job psychoanalysis is one of the most important task that performed by the HR staff.Through job analysis the vacant position is find out and the job commentary and job specification is prepared. Jo b description Job description is an organized and factual statement of the duties and responsibilities for a particular job. Job Specification It is a statement of minimum acceptance of human qualities necessary to perform a job properly. The company selects employees according to job specification. 1. Recruitment Recruitment involves meddling for and obtaining qualified job views in such numbers that the organization can select the most tolerate person to fill its job needs.In addition to filling job needs, the recruitment activity should be concerned with solid the needs of the job vistas. pic Methods of recruitment Job posting The organization announces position openings through bulletin boards, company publications, and internet/intranet. Skills inventories Manual or computerized positive records listing employees education, career and development interests, languages, finicky skills, and so on to be used in forecasting inside candidates for progression. 2. Succession c ookerySuccession planning refers to the plans a company makes to fill its most important 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 proximo needs and drawing on reliable performance approximations and assessments of potential. 3. pickax The selection criteria for a position are a list of the essential and desirable skills, attributes, experience, and education which an organization decides is necessary for a position. blackguard-1 Job analysis Job analysis manner 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 spark by generally describing the purpose of the job. Define the major work processes the employee does. These are the duty statements. Decide which duties are essential Essential duties are either critical to the job or they take up a large percentage of time. Identify the KSBs take to do the major duties and responsibilities. Minimum qualifications (MQs) pick out the knowledge, skills, and behaviors (KSBs) needed to perform the major duties of a job upon entry to the job Developing 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 applicants and select the best person for the job. provision and experience evaluations This method, often called TE, looks at an applicants reproduction and experience as they relate to the job. supplementary Questions Supplemental questions give applicants specific guidelines to describe the competencies they gained through training and experience. indite outpourings Written tests can be good selection tools, but they arent always practical. Written exams cost a lot of time and money to develop. Performance tests Performance tests involve having an applicant perform small samples of an actual duty. Examples include Physical tests Physical tests often include endurance or strength measurements, which could adversely impact on women, older workers, and others. References If not do well, reference checks can result in the same problems as informal, unorganised converses. Work Sample A work sample is some indubitable thing an applicant has produced. It should represent the applicants level of competence in a specific area. Interview The oral interview remains the most universal selection procedure, but they also need to be valid and consistent. checkup examination- Medical tests are conducted to ensure physical fitness of the potential employee. It will decrease chances of employee absenteeism. appointment garner- A reference check is made about the candidate selected and then fina lly he is appoint by giving a formal appointment garner. 4. Human Resource development Human Resources maturement (HRD) is a framework for the expansion of human capital inside an organization through the development of both the organization and the individual to strike performance improvement. HRD includes the areas of training and development, career development, and organization development pic cultivation and development means acquiring knowledge, developing competencies and skills, adopting behaviors that improve performance in underway jobs.Organization development is the diagnosis and design of systems to assist an organization with planning change. move development is the activities and processes for mutual career planning and management between employees and organizations. 5. druthers &038 TRAINING afterward recruiting &038 selecting next step is to orientation &038 train the employees. To ensure break performance, employees must know what to do &038 how to do, to know this they have to go through orientation. Training Need Assessment A needs assessment is the process of identifying the gap between performance required and current performance.The purpose of a training needs assessment is to identify performance requirements and the knowledge, skills, and abilities needed by an organizations workforce to achieve the requirements. The assessment should delivery resources needed to fulfill organizational mission, improve productivity, and provide quality products and services. 6. Performance Management And Appraisal Performance management is a process that consolidates goal setting, performance appraisal and development into a single roughhewn system, the remove of which is to ensure that the employees performance is supporting the companys strategic aims. . Compensation and benefits Compensation is the financial remunerations given by the organization to its employees in exchange for their work. Employee compensation 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 payments wages, salaries, incentives, commissions, bonuses. ? corroborative payments employer paid damages 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 dearly-won benefits because of the large amount of time off that numerous employees receive. Common time off pay periods include Holidays, Vacations, Maternity leave, Sick leave, Personal days, Unemployment restitution payments for laid-off or terminated employees. amends benefits workers compensation, health &038 disability insurance, mental health benefits and life insurance. Retirement benefits pension plans, retirement benefits and survivors or death benefits. Services personal services credit kernel and guidance services. Chapter 4 Findings 4. HUMAN RESOURCE DEPARTMENT of RC L Human Resource Management has come to be recognized 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 omnibus is responsible person the planning the Human Resource Policy in the organization. The basic Organogram of the Human Resource Department of RCL is as follows Manager (HR) representative Manager jockstrap Manager cured decision maker 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 ? Maintain liaison with the administrative manager. ? Grievances treatment of the employees. ? Keep proper security of the company assets. ? To arrange promotions for staffs. Maintain personal files &038 records of employees. ? Conductin g motivational programs. ? Taking care of in-house cleanliness, health and safety. 1. Human Resource planning Human resource planning is a process that identifies current and future human resources needs for an organization to achieve its goals. hands planning is the process by which an organization can engage the right number of people for the right job at the right time. The men needs of RCL reviewed doubly in a year. The province of HR readiness is on HOD-HR. RCL follow the following steps for effective human resource planningStep 1 Analysis of existing positions An analysis of all post make with respect to the requirement of those posts for the current and future functioning of the organization. They use tailor analysis and ratio analysis for forecasting personnel needs. Step 2 Estimation of job vacancies The number of job vacancies which will occur in the coming year estimated considering the following matters ? Promotions ? Demotions ? Separation due to Retirement, Re signation and/or Dismissal Creation of new position due to increased work load, i. e. Workload P = No. Of peopleStep 3 Taking stocks of the existing men skills Then a list is prepared of each employee which apprehends his/her name, educational qualification, experience in each trade/position, area of specialization, special award received, majuscule achievements etc. Step 4 Arriving at the net manpower requirements &038 initiating pass on 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 only vacancies may be fill up up by the redeployment of existing manpower.The redeployment can be through based on the skills identified in the Performance and capability appraisals of every employee. The options sooner management are Promotions, carry-over, Retraining, reallocation of work and Job Rotation. This will occur when it is found that the re is unnecessary manpower in certain departments/sections/branches and deficit of similar skills in other departments/sections/branches. The decisions taken by the HOD-HR and the concerned HOD and the final approval of the MD. Deficit 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, retrenchment action will be resorted to after approval from the MD. found on the above steps the HOD-HR prepares a detailed Manpower Plan for the coming year. A copy of the Manpower Plan forwarded to all the competent authority. It is the accountability 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 institute necessary subsequent actions based on the Manpower Plan i. e. Promotions, Transfers, Retraining, Job Rotation, Recruitment etc. fter carrying out the above Manpower supply exercise if new 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 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 standard recruitment procedure draw 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 come outs the PRFs to the departmental heads as the number of the positions to be filled in that department. The departmental heads return the PRFs to the HOD-HR after 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 different websites of job circulation. Deputation Some vacancies filled y recruiting employees on deputation. Receipt of resume The last date for notice of resumes/applications will specified in the advertisements. Once the applications are received, they can subterfuge out by the HOD-HR. then suitable candidates are sent interview letters by the HR department. The call for test/ interview 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/ interview arrangement 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 direction members, arrangemen ts for the reimbursement of the fare to candidates and to interview panel experts. 2. Selection RCL follow the standard selection procedure for selection of personnel All the above steps are detailed below.Selection procedure for support staff such as Drivers, Office companions, 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 basic 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) on the recommendation of board of directors. picThe persons who will constitute the selection committee depend upon the position for which the interview will be conducted. ? For MD A subcommittee of the Board of Directors. ? For GM &038 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 presidency 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 several(prenominal) HOD of their role on the committee. An appropriate date for the interview/test is fixed with the consent 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, depend ing upon their relevance and applicability for different positions.The Human Resource Department designs the above tests in computer address with the respective HODs and gets it approved by the MD. After the test, (if administered), the short listed candidates are interviewed by respective the selection committee. irrespective 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 s upshotd 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 the 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 details of the post, grade and dental plate of pay be ing offered to the candidate. It also contains any special scathe and conditions of appointment. The letter also contains the proposed day and date of link, intimation of the address of joining and how to get to the address.A copy of the letter send to the selected candidate duly gestural indicating that he/ she will join on the appointed date and time. If certain terms 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 procedure for appointment will consist of the following steps ? Joining reportThe likely employee has to report to the HOD-HR on the appointed date. The HOD-HR then takes the employee through the appoi ntment procedure. ? Check of Certificates The appointing authority checks the protections of the prospective employee. These include his/her academic and other certificates as well as late(prenominal) experience certificates. These are cross checked with the information mentioned by the candidate in the application form. ? Check of age of candidate The appointing authority 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 line of descent 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 nowadays to the organization. ? References The prospective employee is asked to furnish names and address of lead 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 established 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 opened on his/ her name. This file is kept confidential and maintained and is under the care of the HR department.The personal file will contain the following Joining report Ratings of Test and/ or Interviews Photocopies of academic dexterity certificates Photocopies of past employment certificates A record of the date of birth or National ID card Medical test report at the time of appoi ntment 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 Emergency 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 induction process for the new employee to familiarise the job and the organization to him/her The procedure of induction consists of the following steps ? druthers of new Employee The HR department plans an induction program in consultation with the departments concerned for the newly 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 i mportant rules/ terms of service and conditions of employment. ? Advice to various departments The HR department informs the relevant 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 Training The HOD informs the employee his/her induction training schedule. ? deal of identity 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 for the employee. ? Service book Proper record of different types of leaves, performance etc of employees of the RCL for sanctioning leave, leave encashment, annual increment 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 presidency 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 commensurate of the completion of the calendar year. The increment is granted on satisfactory performance of the employee and the approval of the MD. Special pay Special pay may be granted for discharge of additional work, work of high quality or special nature. The grant of special pay requires the approval of the MD. ? Revision of salary structure The management of RCL conducts a salary structure revision once in a year. The responsibility of revising the salary structure for all grades lie within the man agement and the authority for approval lie with the Governing ashes. pic Non-financial benefits of RCL that provided to its employees are as follows discussed Pay for time not worked ? Weekly HolidaysFriday and Saturday are calendar 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 &038 Festival Holidays organization observes the same National holidays and holidays on account of festivals and other holidays. ? Other benefits Insurance RCL provide insurance benefits to its employees. TA/DA Dearness allowances Tour expenses positivity sharing 5. Performance appraisal &038 management Performance and potential appraisal for employees of RCL is done quarterly in a year. The individual appraisal is done in Appraisal 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 distribute 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. individual performance Appraisal will be done at two levels ? Initiating function This would lie with the immediate superior of the appraisee. ? evaluate Authority This would lie with the HODs /MD/Chairman as the case may be.The I nitiating authority and Accepting authority at different levels in SIFPSA will be as follows Performance Appraisal for the MD The initiating and accepting authority would lie with the Chairman of the Governing Body 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 / Reviewing Authority and Managing Director shall be the Accepting Authority. Performance Appraisal for Grade I to VIII employees Initiating Authority shall be the Departmental Managers 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-achieveme nts, corrective measures, and the tasks for the organization cashbox the next appraisal. 6. Training and developmentTraining is the process of teaching new employees the basic skills they need to perform their jobs. On the other hand Management development means any attempt to improve current or future management performance by imparting knowledge, changing attitudes, or increasing skills. ? role 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 categorize them into Technical, Managerial, and Behavioral. He/ She will also circulate 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 follo ws 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 transferred 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 hence training and development programs play an important part in the legato and effective functioning of the organization. The impact of such programs 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 trainer in order to improve the impact of such training. 6. rush planning &038 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 commit 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 indication of the employees accomplishments and his/ her potential Training and its applications show how readily he/ she is able to adapt to new roles and responsibilities. The employee have to take opening in his/ her own career planning by setting targets for himself/ herself and fitly 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 Growth 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 occupy 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 prepares 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. diametrical TYPICAL HR FUNCTIONS OBSERVED 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 giant 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 responsibility 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 commerce 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 voluminous 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 &038 Admin department of RCL it is found that RCL follows a well established 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 &038 Conclusions 5. 1Key policy recommendations Develop a strategic HR function ? Review the configuration and staffing of the HR function to transform 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 elegant HR strategy 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 mesh 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 should be delimit 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 modern 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 mana gement practice and performance that took place within last ten-spot 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 regular 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, 11th edition, Prentice Hall. 4. Management, Heinz Weigh rich, Harold Koontz 10th edition. 5. A b c d Thomas N. Garavan, Pat Costine, 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. meshing site, Wikipedia, the free encyclopedia. 8. Storey, J. (1995). natural perspectives on human resource management. New 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 &038 G. Lake (Eds), Tomorrows HR Management 48 Thought leaders call for change, pp. 69-83. 10. Public Sector 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 &8212&8212&8212&8212&8212&8212&8212 Junior administrator major(postnominal) Executive Senior Executive Senior Executive 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) Real tim e trading facility in both DSE &038 CSE ? Xpress Settlement ? Any Branch Trading Facility ? Depository Service ? BO Account ? Demat Securities ? Pledge Functions of HRM ? HR planning. ? Recruitment, selection &038 placement Training &038 development ? Performance Appraisal ? Transfer ? Remuneration ? Social security &038 welfare of employees. ? Setting general and specific management policy ? Collective bargaining, contract negotiation and grievance handling. ? Staffing the organization. ? authority Analysis for job occupants. ? Job Rotation. ? eccentric Circle, Organization development and Quality of Working Life. ? Benefits Health care insurance Life insurance baulk insurance Retirement Voluntary accidental death and dismemberment insurance Leave Transfer Program Tuition Assistance Plan Training opportunities Junior Executive Executive Senior Executive Junior Executive Executive Senior Executive Junior Executive Executive Senior Executive GM Assistant Manager Assistant M anager Assistant Manager Assistant Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Deputy Manager Chairman &038 Board of Directors Manager (HR) Manager (Compliance) Manager (C. C) Manager CDBL &038 Settlement) Manager (IT) Manager (Fin &038 Acc) Manager (Trade) Managing Director Assistant Manager Assistant Manager Assistant Manager