Functions & Responsibilities of Hr & Admin Department of Rcl

Chapter 1 Introduction 1. Background of the identify After completion of MBA broadcast students reserve to do internship in an disposal for the fulfillment of the Degree. Internship class gives an luck of learning the surely acetifying kinetics and app untruth ind intimacy of Business Administration. I bed my M. B. A program from visualizee section of heed Studies, University of Chittagong. To complete the pedantic requirement I did my internship at HR discussion section of lofty p separatelyy modified.My internship topic was functions & responsibilities of HR and Admin part of royal stag swell confine. This subject atomic figure of speech 18a is prompt to focus on the functions and responsibilities of HR and Admin part of royal stag seat of government particular. 1. 2Rationale of the give notice (of) Internship program is the part of MBA program which gives a scope to MBA students to prep be a instruction melodic theme focus solution to problematic i ssues of trouble of the constitution. It is an probability to gather pragmatic knowledge and reduce the gap between theoretical and possible knowledge.It too gives opportunity to the early managers to deal with practical problems and give solution in real line of products life. I did my internship in proud Capital Limited which is a leading equity agentive exerciseage mansion in the rural argona. My internship report is base on the practical down through with(predicate) realiseing at the HR incision of the bon ton. 1. 3Objectives of the report The main verifi sufficient of this report is to fulfill the academic requirement as well as the chase objectives To understand the piece imagination trouble practices. To confirm a clear picture of the basal HR functions. To identify the clear picture of HR practices in RCL. To give way the coiffureance of the HR & Admin section of RCL. 1. 4Methodo put downy and Data accruement The report is prep ard on the ba sis of experience and selective affirmation collection through indicate supervision at the sketch place. The methodology followed for the purpose of the force field has been desk look as well as field survey. The desk research method has been followed to follow the animated literature on the subject. Both primary and indirect information were collected to prep are the report.The main sources of the primary data to prepare the connection profile and its bring to passance had been collected from memorial tablets web website and the touch with HR carriage of proud Capital 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 outline of primary and secondary data. It tins information of a victoryful broker ho purpose, its practice and prospect of HR and Admin part.It exit fill and give complete idea to a learner and invitees about broker house and its activities. This report in any case forgets grid business institutions to a learner about practice of HR and functions and responsibilities of HR and admin part. 1. 6Limitations of the report The study has been conducted subject to accredited limitation. The rate of success of my study whitethorn be limited as I might realize failed to collect becoming information receivable to lack of my experience, slightly data could not be supplied for their orphicity and official secrecy. The secondary sources of data were not visible(prenominal) and well organized.In addition to the above, RCL is a private limited comp either, which does not does not provide with exclusively the inevitable information as necessitate due to their sensitivity and militantness in regard to its competitors. In spite of these limitations, I render tried my best to pinpoint variant findings of this phoner. I, on that pointfore, hope that the stud y exit be evaluated subject to the recognition of the above limitation. 1. 7MY WORKING electron orbit As I complete MBA program major in HRM from part of trouble Studies, University of Chittagong my interest was to know the HR practice in real life in the system of ruless.I got the opportunity to work in the HR department of kinglike Capital Limited under HOD-HR manager. My internship topic was functions & responsibilities of HR & Admin department of majestic Capital Limited. My shaping supervisor jockstraps me to closely work with the functions and responsibilities perform by them to successful continuation of a company in the war-ridden business 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 someones, hostile funds and retail investors which help to success in the trade. Royal Capital Limited was established in 1995 and o ver booking become wholeness of the largest stock broking companies in the country. Side by side it has withal franchise licences. Its a member of Dhaka and Chittagong Stock switch. Its authorized big(p) is TK 150 million paid-up big(p) is TK 65 million. There are 12 offices and branches of Royal Capital Limited situated in Dhaka, Chittagong, Feni, Jessore, Bogra and Khulna.Its unified head office is located in Chittagong. Its anatomy of employees is 110. The number of benefactive role Owner Account holders is 37,112. Its daily average turnover is US $ 1. 7 million. The grocery share of Royal Capital Limited is 1. 20%. Royal Capital Limited is a secretary participant of Central depositary Bangladesh Limited. Mr. A. Q. I Chowdhury, OBE is the chairman of the company, a prominent business character of the country. He has a sound track record of running the manufacturing and service lie multinational company like James Finlay Plc for the tolerate 20 years.He was plunde red by Her Excellency Queen Elizabeth II the Order of British Empire (OBE) for his piece to the society and ethical business. Under his leadership a young dedicated, deft professional team up has been lift to render the service as needful by customers. 2. 1. 1Mission The mission of Royal Capital Limited is to develop the company into an ideal and antique pecuniary institution by providing excellent financial service to its customers. 2. 1. 2Objectives of Royal Capital Limited Success of an investor accounts on good understanding of market, reliable information, sound fund focusing and risk preparedness.Royal Capital Limited is the right place to make it all those services. It has already gained self-assertion of Investors of all class for its sincere efforts to assist client in every(prenominal) possible way. Objectives of Royal Capital Limited are as follows ? To help client understand investment choices. ? To provide apropos mark and feat information that accur ately reflects the investment positions of the client. ? To Build and justify clients trust. ? Provide clients with frank, meterly feedback on how we are doing and how we stinker improve our service to clients. 2. 1. 3ManagementRoyal Capital Limited has a policymaking clay which lie downs of 7 members of whom 2 are elected. The lineup comprises of atomic number 53 president, one Managing manager, three directors and 2 members. It has provision for 23,000 clients. The executive power of RCL is vested with the surgical incision motorcoach. 2. 1. 4Sister concerns The followings are the concern business of Royal Capital Limited ? Royal Trade International ? Royal Cuisine ? Royal Garden. 2. 2Major businesses and product divisions As a broker house Royal Capital Limited perform following activities ? Brokerage ActivitiesRoyal Capital limited provides throw public pre conveyation activities for clients in Dhaka and Chittagong Stock convince under Securities & Exchange Commissi ons Law. ? dealer Account The ir unbroken Act defines a dealer as someone who is engaged in the business of buy and selling securities for his declare discover that would require their registration as a dealer under SEC Act. Also Royal Capital limited has a dealer Account, get word ROYAL CAPITAL LTD. B. O ID 1201590000001005. ? Stock Broking Account The subprogram of invest in the share market, either somebodyly or through a broker is know as stock broking.Stock broker is also an individual who makes stock trades on behalf of his or her clients. ? delimitation Loan Margin loans are topicn to finance the purchase of securities, usually the purchase of stock (also known as equity). Margin loans normally are extended by the uniform financial services firm (stock brokerage firm or securities firm) that the customer uses to trade in the security in question. The maximum cling to of a molding loan relative to the value of the underlying securities is set by the SEC. Each firm is free to implement more stringent lending policies than prescribed by the SEC. Margin Loan Activities & Agreement of RCL In this atom Royal provide two kinds of A/C currency This type of identify asks to client deposit cash and then client sack up use that cash to buy stocks, bonds, mutual funds or bleak(prenominal) investments. But sometimes client pile allot loan for buying securities, its providing for short time. Its also called unauthorized loan. Margin With a allowance account account the broker lends a portion of the funds at the time 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 bequeath be required to deposit more cash or sell a portion of the stock. ? Margin Call A broker demands an investor using bank to deposit additional money or securities so that the margin account brought up to the minimum maintenance margin. Margin calls come out when an account value depresses to a value calculated by the brokers bad-tempered 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 confidence praise offset and the praise authorities of individuals or commissionings as well as the basis of those decisions. Royal Capital Limited provides credit facilities to the customer as per Margin Rules, 1999. ? Margin Risk Management Process Margin risk focal point process should cover the entire margin cycle starting from the origination of the margin in a financial institutions books to the point the margin is extinguished from the books. ? net Trading Service (ITS) This is a b sound out little duty system.Investor who have access to internet take part in share market from any part of the world, and gutter do his own buy-sale at own pace. Investor interested to whitethorn be able to log on to www. bangladeshtockmarket. com to get all the relevant information on the Internet trading and also for trading. ? echt time trading facility in both Dhaka & Chittagong Stock Exchanges A client can trade any bourse simultaneously from any of our branches. ? Xpress Settlement On selling shares through Xpress settlement cheque is issued on the similar day & not on the exchange payout discover.This money can then be withdrawn immediately. ? any Branch Trading Facility RCL is giving any branch trading facility to its client. ? Depository Service A depository is an organization organise to provide electronic depository facilities to share holder under frequent 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 Participant (DP) in the country and the setoff DP who started think service right from introduction 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 point-blanking 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. ? toastDepository service with RCL allows you to make whoopie demated securities with any bank or financial institution to avail loan. ? seek Activities This is one of the issues that the Royal Capital Limited management was very untold serious about and accordly put due emphasis according to the need of the cap market. Stock business is information ground. Right information at the right time in the right place is the amount of the game. So RCL publish some very informative and analytical publications inten d to help explore the financial executing of the listed organization so that the client can take wise investment decision. . 3 venire of directors Chairman Mr. A Q I Chowdhury, OBE CEO & MD- Mr. Munir Ahmed Director- Ms Jesmin Islam Chowdhury Director- Mr. Sami Chowdhury Director- Mr. Saadi Chowdhury SWOT Analysis of Royal Capital Limited Positive Negative Strength(s) Weakness(w) Internal Goodwill. Inadequate IT system. Factors Credibility. Lack of paraphernaliaed ersonnel. fast financial condition ample financial resource. Absence of risk management legal opinion. Insufficient research and victimization. Efficient and experience management team. Lack of strategical provision. Prompt service. Transparency. Never a default to client and to DSE, CSE and CDBL. Opportunity(O) Threats(T) External extensive scope to increase trade. Entry of new competitor. Factor Increased competition. part market crisis. 2. 4Organogram of RCL Royal capital Limit ed at A behold Name of the company Royal Capital Limited. Type of company secluded limited.Date of incorporation 1st April 1995. Member Registered No Dhaka Stock Exchange Ltd. Registration 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 & Branches 12 No. of employees 110 Number of BO holders 37,112 everyday 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 Board of Directors Organization Address Corporate OfficeFinlay House (Ground Floor), Agrabad C/A, Chittagong, Bangladesh. Chapter 3 Literature review 3. 1 world being election Management HRM involves all kind of decisions advertd with gentleman resource. HRM can be define as a specific combination of HR practices, work bodily structures and process that maximizes employees knowledge, skill, commitmen t and flexibility. Storey (1995) defines HRM as a distinctive approach to employment management which seeks to obtain competitive advantage developed delegateing how HRM practices leads to overall corporate murder.According to Khatri (1999), people are one of the al nigh important factors providing flexibility and adaptability to organizations. Rundle (1997) argues that one necessarily to bear in mind that people (managers), not the firm, are the adaptive mechanism in determining how the firm will respond to the competitive environment. Several scholars have noted that managing people is more difficult than managing applied science or capital (Barney, 1991 Lado and Wilson, 1994). 3. 1. 1 humankind imaging Management Nature world Resource Management is a process of bringing people and organizations together so that the goals of each are met.HRM practices refer to organisational activities directed at managing the kitty-cat of human resources and ensuring that the resources a re employed towards the fulfillment of organizational goals (Schuler & Jackson, 1987 Schuler & MacMillan, 1984 Wright & Snell, 1991). Redman and Matthews (1998) identify an HRM raft of central practices which embody service organizations tint strategies, these being ? Careful enlisting and plectron, for example, total timber recruitment, zero defects recruitment, right first time recruitment. ? Extensive remuneration systems, for example, bonuses available for staff unbidden to be multi- practised. Team working and flexible speculate design, for example, encouraging a sense of cohesiveness and designing empowered arts. ? prep and learning, for example, front line staff having enhanced interpersonal and social skills. ? Employee involvement, for example, keeping employees informed of key changes in the organization. ? public presendation estimations with links to contingent reward systems, for example, gathering customer feedback to recognize the work by employees over and above their expected duties, which in turn is likely to lead to a bonus for staff. 3. 1. 2 humane Resource Management ObjectivesHuman Resource Management (HRM) is about matching employment practices to an organizations strategy, according to Hendry (1999, p. 3). In Torrington, Hall and Taylors (2008) opinion, its objectives are to take in that organizations are well staffed 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 determine effective utilization and maximum schooling of human resources. ? To take care respect for human beings. To identify and satisfy the demand of individuals. To ensure reconciliation of individual goals with those of the organization. ? To give and maintain high morale among employees. ? To provide the organization with well-trained and well-motivated employees. ? To increase to the fullest the employees argument satisfaction and self-actu alization. ? To develop and maintain a quality of work life. ? To be ethically and socially responsive to the unavoidably of society. ? To develop overall personality of each employee in its multidimensional aspect. ? To enhance employees capabilities to perform the present chew over. To raiment 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 responsible for ? Understanding and relating to employees as individuals, frankincense identifying individual require and move goals. ? Developing positive interactions between workers, to ensure collated and constructive enterprise productivity and victimization of a uniform organizational culture. ? Identify areas that suffer lack of knowledge and insufficient cookery, and accordingly provide remedial measures in the form of workshops and seminars. Innovate new operating practices to derogate risk and gen erate an overall sense of belonging and accountability. ? Recruiting the required custody and making provisions for expressed and promised payroll and benefits. ? Implementing resource strategies to sequently piss and sustain competitive advantage. ? Empowerment of the organization, to successfully meet strategic goals by managing staff effectively. ? The human resource department also maintains an open look to employee grievances.Employees are free to approach the human resource team for any conceived query or any form of on-the- blood stress that is bothering them. ? surgery 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 span 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 stability of stockpile and the salary 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 need of an organization and whether to use independent bringors or hire employees to fill these necessitate, recruiting and knowledge the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to heterogeneous regulations. Human resource department of an organization exist of all human resource management functions. rail line Analysis line of work compend is one of the well-nigh important task that performed by the HR staff.Through job analysis the vacant position is find out and the job exposition and job specification is prepared. Job description Job description is an organized and factual statement of the duties and responsibilities for a particular job. Job precondition 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. enlisting Recruitment involves searching for and obtaining qualified job aspects in such numbers that the organization can select the most appropriate person to fill its job necessitate.In addition to change job needs, the recruitment activity should be pertain with satisfying the needs of the job candidates. pic Methods of recruitment Job posting The organization announces position openings through bulletin boards, company publications, and internet/intranet. Skills inventories Manual or computerized systematic records listing employees education, career and development interests, languages, special skills, and so on to be used in forecasting inside candidates for promotion. 2. Succession protrudeningSuccession readiness refers to the plans a company makes to fill its most important executive positions. It involves analysi s of the demand for managers and professionals by company level, function, and skill and supply of individual career paths based on objective estimates of future needs and drawing on reliable performance appraisals and judgments of authorization. 3. Selection The natural survival of the fit canvass criteria for a position are a list of the essential and desirable skills, attri fur in that locations, experience, and education which an organization break ups is necessary for a position. yard-1 Job analysis Job analysis means underdeveloped 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 Start by popularly 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 needed to do the major duties and responsibilities. marginal qualifications (MQs) describe the knowledge, skills, and behaviors (KSBs) needed to perform the major duties of a job upon entranceway 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 subprograms Following job analysis, the second stage in developing a selection plan is deciding how you will evaluate appliers and select the best person for the job. educate and experience evaluations This method, often called TE, looks at an applicants cultivation and experience as they relate to the job. Supplemental Questions Supplemental questions give applicants specific guidelines to describe the competencies they gained through readying and experience. Written tests Written tests can be good selection tools, but they arent always practical. Written exams cost a lot of time and money to develop. Perfor mance tests Performance tests involve having an applicant perform atrophied samples of an actual duty. Examples include Physical tests Physical tests often include resolution or strength measurements, which could adversely impact on women, older workers, and others. References If not done well, reference checks can result in the same problems as in titular, unstructured questions. Work 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 call into question remains the most popular selection procedure, but they also need to be effectual and consistent. aesculapian examination- Medical tests are conducted to ensure physical fitness of the dominance employee. It will decrease chances of employee absenteeism. Appointment Letter- A reference check is do about the candidate selected and then finally he is name by giving a formal fitting letter. 4. Human Resour ce development Human Resources Development (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 performance advancement. HRD includes the areas of develop and development, career development, and organization development pic cooking and development means acquiring knowledge, developing competencies and skills, adopting behaviors that improve performance in true 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 recruiting & selecting next 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. tuition Need sound judgment A needs asse ssment is the process of identifying the gap between performance required and accredited performance.The purpose of a formulation 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 address resources needed to fulfill organizational mission, improve productivity, and provide quality products and services. 6. Performance Management And approximation Performance management is a process that consolidates goal reach, performance appraisal and development into a single common system, the aim of which is to ensure that the employees performance is take foring the companys strategic aims. . payment 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 vent to employees and arising from their employment. There are two m ain components of employee compensation ? Direct financial payments wages, salaries, incentives, commissions, bonuses. ? Indirect payments employer paid indemnification 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 amount of time off that many employees receive. common time off pay periods include Holiold age, Vacations, Maternity leave, Sick leave, own(prenominal) days, Unemployment insurance payments for laid-off or terminated employees. Insurance benefits workers compensation, health & disablement insurance, mental health benefits and life insurance. Retirement benefits pension plans, retirement benefits and survivors or death benefits. Services personal services credit union and counseling services. Chapter 4 Findings 4. HUMAN RESOURCE DEPARTMENT of RCL Human Resource Management has come to be recognized as an implicit in(p) 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 double-decker is responsible person the planning the Human Resource Policy in the organization. The prefatorial Organogram of the Human Resource Department of RCL is as follows motorcoach (HR) legate Manager Assistant Manager Senior administrator administrator jr. Executive The role of Human Resource department of RCL is as follows ? Human resource planning, recruitment and selection. ? Making Human Resource Policy. ? Under taking education programs for skill development. ? Ethical issues and codes of conduct ? keep liaison with the administrative manager. ? Grievances handling of the employees. ? Keep proper security of the company assets. ? To arrange promotions for staffs. Maintain personal files & records of employees. ? Conducting motivational programs. ? Taking care of in-house cleanliness, health and safet y. 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. work force 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 twice in a year. The responsibility of HR Planning is on HOD-HR. RCL follow the following locomote for effective human resource planningStep 1 Analysis of existent positions An analysis of all post done with respect to the requirement of those posts for the current and future process of the organization. They use trend 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, endurance and/or Dismissal Creation of new position due to change magnitude wo rk load, i. e. Workload P = No. Of peopleStep 3 Taking stocks of the existing manpower skills and then a list is prepared of each employee which contains his/her name, educational qualification, experience in each trade/position, area of specialization, special award received, outstanding achievements etc. Step 4 Arriving at the net manpower requirements & initiating further activities The gross manpower requirements, assessed as per Step 2 compared with the availableness of existing skills arrived at Step 3. The comparison leads to one of the following situations all told vacancies whitethorn be change up by the redeployment of existing manpower.The redeployment can be done based on the skills determine in the Performance and Potential appraisals of every employee. The options beforehand management are Promotions, Transfer, Retraining, Reallocation 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 similar skills in other departments/sections/branches. The decisions taken by the HOD-HR and the concerned HOD and the final favorable reception 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. Based on the above steps the HOD-HR prepares a detailed work force Plan for the coming year. A replica of the Manpower Plan forwarded to all the competent berth. It is the responsibility 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 Planning exercise if new positions need to be added, it need to get approv al 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 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 sends 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 recru itment 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 round vacancies filled y recruiting employees on deputation. Receipt of resume The last date for receipt of resumes/applications will specified in the advertisements. Once the applications are received, they can screen 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 postponement room, lunch and tea for candidates and selection direction members, arrangements for the reimbursement of the fare to candidates a nd to interview board experts. 2. Selection RCL follow the standard selection procedure for selection of personnel All the above steps are detailed below.Selection procedure for funding 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 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 cook 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 & DGM MD and some other members o f 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 extraneous the organization to assess the candidate. The members of the government 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 respective HOD of their role on the committee. An appropriate date for the interview/test is fixed with the go for 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, cognizance test and Personality test is conducted, if required, depending upon their relevance and applicability for different positions. The Human Resource Department designs the above tests in consultation with the respective HODs and gets it authorize 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 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 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, pit and scale of pay being offered to the candidate. It also contains any special price and conditions o f appointment. The letter also contains the proposed day and date of connectedness, intimation of the address of joining and how to get to the address.A copy of the letter send to the selected candidate punctually subscribe 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 write 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 formalness before he is given the formal appointment letter. The procedure for appointment will consist of the following steps ? Joining reportThe prospective employee has to report to the HOD-HR on the appointed date. The HOD-HR then takes the employee through the appointment procedure. ? Check of Certificates The appointing busi ness office checks the certificates of the prospective employee. These include his/her academic and other certificates as well as past experience certificates. These are cross checked with the information mentioned by the candidate in the application form. ? Check of age of candidate The appointing dictum also check the age of the candidate through his/her school departure 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 names 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 completed 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 unplowed 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 Qualification certificates Photocopies of past employment certificates A record of the date of take over or National ID card Medical test report at the time of appointment as well as any subsequent tests done. If any Comments of refer ees Copy of the secrecy bond All correspondence before joining including copies of the letter of Offer, Letter of Acceptance, and appointment Letter Emergency stir 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 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 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 important 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. ? Issue of identity 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 seemly record of different types of leaves, 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 vacation 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 adapted 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. ? revise of salary structure The management of RCL conducts a salary structure alteration once in a year. The responsibility of revising the salary structure for all grades lie within the management and the laterality for approval lie with the Governing Body. pic Non-fina ncial benefits of RCL that provided to its employees are as follows discussed Pay for time not worked ? periodical HolidaysFriday and Saturday are weekly holidays unless otherwise specified. ? blank outs The organization provides leave to the employees to refresh themselves, solemnize 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. ? former(a) benefits Insurance RCL provide insurance benefits to its employees. TA/DA Dearness allowances round expenses Profit ability sharing 5. Performance appraisal & 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 laterality This would lie with the immediate superior of the appraisee. ? Accepting sureness This would lie with the HODs /MD/Chairman as the case may be.The Initiating authority and Accepting authority at different levels in SIFPSA wil l 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 tick off 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-achievements, corrective measures, and the tasks for the organization till the nex t 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 change magnitude skills. ? mathematical process 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 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 transposered 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 smooth 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 th e particular program. It can also decide to change the trainer 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 attract 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 quickly 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 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 act 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 deputation deliberations The above letters are approved by the MD and sent to the employee. 7. DIFFERENT TYPICAL HR FUNCTIONS OBSERVED IN RCL RCL authority provides opportunity to the students from different institutions, to take part in their internship program. Thi s 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 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 dec rease an employees emotional disorder. advise is involved in all aspects of the employer-employee relationship. 1. Analysis and gap between possible action 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 established HR policy to recruit and to guide its human resource.But there are some gap between the hypothesis and practice which need addressed to make its human resources more competitive and achieve organizational goals. Chapter 5 Recommendations & Conclusions 5. 1Key policy recommendations Develop a strategic HR function ? Review the configuration and staffing of the HR function to transubstantiate it into a strategic HR function. ? Develop a service improvement plan that reflects customer feedback and builds on the work started at the HR past day. ? Refocus the work of the HR team on the OD order of business and the refined HR strategy and implement an asso ciated development program for HR staff.Review and develop the HR strategy ? The HR strategy should capture the employer mail 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. organise 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 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 incidentally 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 management practice and perform ance 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, 11th edition, Prentice Hall. 4. Management, Heinz Weigh rich, Harold Koontz tenth 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 02 73687131. 7. Web site, Wikipedia, the free encyclopedia. 8. Storey, J. (1995). New 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 & 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 immature Executive Senior Executive Senior Executive Senior Executive Senior Executive Executive younger Executive Executive junior(a) Executive Executive Junior Executive Executive Activities of RCL ? Stock Broking ? Cash Account ? Margin Account ? Internet Trading Service (ITS) Real time trading facility in both DSE & CSE ? Xpress Settlement ? both Branch Trading Faci lity ? Depository Service ? BO Account ? Demat Securities ? Pledge Functions of HRM ? HR planning. ? Recruitment, selection & placement Training & development ? Performance Appraisal ? Transfer ? Remuneration ? Social security & welfare of employees. ? Setting general and specific management policy ? Collective bargaining, contract negotiation and grievance handling. ? Staffing the organization. ? Role Analysis for job occupants. ? Job Rotation. ? Quality Circle, Organization development and Quality of Working Life. ? Benefits Health care insurance Life insurance Disability insurance Retirement Voluntary accidental death and taking apart 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 Manager Assistant Manager Assistant Manager replacement 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