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Recruitment and Selection Process of Prime Bank Limited: An In depth

Analysis

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Md. Shajedul Islam

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 ACKNOWLEDGEMENTS

At first we would like to express our gratitude to Almighty Allah Subhanahu wa ta’ala
for his favor to successfully accomplishment of the Book.

We also register our profound and heartfelt gratitude to Mr. Z. H. Shahedi, Executive
Vice President (Head of Human Resources Division).

This is a great pleasure to express our sincere thanks and gratitude to all the
employee and executives of Prime Bank Limited for their enduring and continuous
help and cooperation in spite of their business in day to day operation. We with due
respect remember their uncourageous assistance and inspiration.

Although we were very eager to perform an exclusive book but we had to face some
difficulties due to time constrains. No doubt this was the limited timeframe which
caused much of the limitations of this study. However, we regret for any mistakes in
this book in spite of our effort to collect relevant and significant data as much as
possible and thereby to make the project as success.

Finally we would like to thank our family, all of our well-wishers who have assisted us
in providing necessary data, information etc. related to prepare the book. If any part
of this book can contribute a little to the work of our successors, it would be the great
achievement of the book.

- Md Shajedul Islam
- Md Ali Ahsan

i
 ABSTRACT

Better recruitment and selection strategies result in improved organizational

outcomes. With reference to this context, the book entitled Recruitment and
Selection Process of Prime Bank Limited : An In depth Analysis has been prepared
to put a light on recruitment and selection process of Banking sector. The main
objective of this study is to assess and evaluate the recruitment and selection
strategy of Prime Bank Limited and make constructive recommendations for the
improvement of the banks’ recruitment and selection process. The study also
provides some suggestions that can help Prime Bank Limited in future for utilizing
human resources as a distinctive competency. Prime Bank Limited is one of the
significant private sector employers in Bangladesh, which needs a large number of
qualified, high potential and committed staff to attain the organizations’ goals
effectively. The back bone of this study is the secondary data comprised of
comprehensive literature review. This research study found that the bank have an
extensive selection process consisting of CV screening, employment tests,
interviews and background checks. At the end of the study some suggestions are
made to review the recruitment and selection policies of the bank that will lead to
higher employee retention and improved organizational performance.

ii
 CONTENTS
Acknowledgements i
Abstract ii
Contents iii – iv
List of Figures v
List of Tables vi
Acronyms vii

Chapter – One : Introduction 1-7

1.1 Introduction 1
1.2 Statement of the study 2
1.3 Objectives of the study 3
1.4 Methodology of the study 3
1.5 Company Profile 4
1.5.1 Vision, Mission and Corporate Culture of PBL 5
1.5.2 Departments of Prime Bank Limited 6
1.6 Scope of the study 7
1.7 Limitations of the study 7

Chapter – Two : Literature Review 8-26

2.1 Recruitment: an introduction 8
2.2 Overview of the recruitment procedures 8
2.3 Goals of recruitment 10
2.4 Sources of recruitment 10
2.4.1 Internal sources of recruitment 11
2.4.1.1 Advantages & disadvantages of internal sources of recruitment 11
2.4.2 External sources of recruitment 12
2.4.2.1 Advantages & disadvantages of external sources of recruitment 14
2.4.2 Internet recruiting 14
2.5 Selection: an introduction 14
2.6 Difference between recruitment and selection 15
2.7 Steps in the selection procedure 16
2.8 Prerequisite for successful selection process 20
2.9 Importance of selection process 20

iii
2.10 Factors affecting recruitment and selection process 22
2.11 Challenges of Recruitment and Selection 23
2.12 Changing context of recruitment and selection decisions 24
2.13 Systems approach to selection 25

Chapter – Three : General Findings 27-33

3.1 Core principles of PBL 27
3.2 Employee code of ethics and business of PBL 28
3.3 Recruitment philosophy of PBL 28
3.4 Steps in recruitment process of PBL 28
3.5 Recruitment sources of PBL 29
3.5.1 Internal sources of recruitment of PBL 29
3.5.2 External sources of recruitment of PBL 30
3.6 Selection process of PBL 31

Chapter – Four : Discussion of Result 34-47

4.1 Demographic Data 34
4.1.1 Educational qualification of respondents 35
4.1.2 Number of years spent at PBL 36
4.2 Formal policy for recruitment and selection of employees 37
4.3 Outline of job analysis 38
4.4 Methods of recruitment by PBL 39
4.5 Recruitment and selection practices 40
4.6 Factors considered before recruitment and selection 41
4.7 Challenges of recruiting and selection practices at PBL 43
4.8 Effectiveness of recruitment and selection practices of PBL 44
4.9 Impact of recruitment and selection practices on employee
45
performance
4.10 Factors to help improve recruitment and selection practices at PBL 46

Chapter – Five : Recommendations and Conclusion 48-50

5.1 The strength of recruitment and selection process of PBL 48
5.2 The weakness of recruitment and selection process of PBL 48
5.3 Recommendations 49
5.4 Conclusion 50
Appendix 51-53
Literature Cited 54-55

iv
 LIST OF FIGURES

Figure 1 : Recruitment process 9

Figure 2 : Sources of recruitment 10

Figure 3 : Selection process 17

Figure 4 : Systems approach to selection 26

Figure 5 : Selection process of PBL 31

Figure 6 : Gender Distribution 34

Figure 7 : Educational Qualification 35

Figure 8 : Number of years spent at PBL 36

Figure 9 : Formal policy for recruitment and selection of employee 37

Figure 10 : Outline of job analysis 38

Figure 11 : Methods of Recruitment by PBL 39

Figure 12 : Recruitment and selection practices of PBL 41

Figure 13 : Factors considered before recruitment 42

Figure 14 : Challenges of recruiting and selection practices at PBL 43

Figure 15 : Effectiveness of recruitment and selection 45

Figure 16 : Impact of recruitment and selection practices on 46

employee’s performance

Figure 17 : Improving recruitment and selection practices at PBL 47

v
 LIST OF TABLES

Table 1 : Gender Distribution 34

Table 2 : Educational Qualification 35

Table 3 : Numbers of years spent at PBL 36

Table 4 : Outline of job analysis 38

Table 5 : Methods of recruitment by PBL 39

Table 6 : Recruitment and selection practices of PBL 40

Table 7 : Factors considered before recruitment and selection 42

Table 8 : Challenges of recruitment and selection 43

Table 9 : Effectiveness of recruitment and selection 44

Table 10 : Improving recruitment and selection practices at PBL 46

vi
 ACRONYMS

PBL : Prime Bank Limited

CAMELS : Capital Adequacy, Asset Quality, Management Soundness,

Earnings, Liquidity, Sensitivity to Market Risk

SME : Small and Medium Enterprise

HRD : Human Resources Division

HRM : Human Resources Management

KSA : Knowledge, Skills and Attitudes

BIBM : Bangladesh Institute of Bank Management

IBM : Institute of Business Administration

MBA : Master of Business Administration

MBM : Master of Bank Management

BBA : Bachelor of Business Administration

MD : Managing Director

DMD : Deputy Managing Director

Tk. : Taka (currency of Bangladesh)

CV : Curriculum Vitae

vii
 CHAPTER ONE INTRODUCTION

1.1 Introduction

Human resource is the most precious asset to any organization. Unlike other assets,
people are the only greatest potential asset and the only greatest potential liability
that an organization will acquire as it moves about its business. People are
individuals who bring their own perspectives, values and attribute to organizational
life and when managed effectively, these human traits can bring considerable
benefits to organizations. As we move through the 21st century where a globalize
workforce is the basis of competition we find that the principles of human resource
planning, recruitment, selection and development are of prime importance. And to
manage a diverse workforce effectively, an organization must hire and promote the
most capable candidate for a job, while being mindful of the necessity to build a
workforce that is representative of the greater business community. This may be
achieved through using more appropriate and inclusive recruitment and selection
strategies.

Recruitment and selection process play an important role to attracting and appointing
qualified personnel. Getting the right people in the right place at the right time doing
the right job is an essential element of recruitment and selection process in any
organization. An effective approach to recruitment and selection process can help an
organization to maximize the competitive advantages by choosing the best pool of
candidates quickly and cost efficiently.

Recruitment and selection of human resources is expensive both in terms of time

and money, and it is therefore important that the process is carried out smoothly and
efficiently and results in the appointment of a person who fits the job. Attracting
highly qualified and skilled employees is important for an organization to compete
effectively both in national and global markets. But mismatch between the candidate
and job can cost an organization a great deal of money, time and energy. That’s why
it is vital that organizations select people with the quality essential for continued
success in this competitive global village of today. The only means of achieving this
success is through proper recruitment and selection practices.

1
Human resource practitioners and academics worldwide hold the belief that, survival,
growth and development of an organization grossly depend on an effective and
efficient culture of recruitment and selection of people endowed with broader and
deeper range of core competencies, preferred attitudes, knowledge, skills and
experiences. The ultimate goal of recruitment and selection of human resource is to
bring to bear on organizations, preferred attitudes, behavior and culture to elicit
better performance.

1.2 Statement of the study

Dimension of banking all over the world has been changing rapidly due to the
deregulation of globalization and technological innovation. Now-a-days banking
business has been facing more competition locally as well as globally. To survive in
this competitive banking world, banks require developing appropriate financial
structure, developing professionalism in the sense of developing appropriate
recruitment and selection policy of human resources of the Bank.

The success of organizations in this modern business environment depends on the

caliber of the manpower that steers the day to day affairs of the organizations. The
process of recruiting and selecting all categories of employees into both private and
public companies has been a matter of concern to many and needs attention. Even
though it is the wish of every organization to attract the best human resource in order
to channel their collective effort into excellent performances, unconventional
selection practices can mar any business plan. Managing people is a definite
challenge both at strategic or even organizational levels. Thus, human resources are
well managed and developed in alignment with the organizational goals and
strategies. It has been observed that for any organization to achieve its stated
objectives and goals there is the need for management to put in place policies or
strategies that will help attract the best employees to strive towards the achievement
of organizational objectives. It has also been observed that the performance output
of employees of PBL is of prime concern to management of PBL as it affects
productivity and the development of the bank. Importantly, some of the employees
who are not able to improve and adjust to their new working environment resign
leading to employee turnover and this affects the organization in terms of cost and
productivity. The study identified and assessed the effectiveness of the recruitment
and selection practices and procedures of PBL.

2
1.3 Objectives of the study

Objective is simply a statement of what is to be done and should be stated in terms

of results. So objectives reflect the desired outcomes for individuals, groups and
organization. The study has been undertaken with the following objectives:

1. To explore the overall recruitment and selection process of Prime Bank Limited,
a reputed private commercial bank in Bangladesh.

2. To identify the recruitment and selection practices of PBL.

3. To examine how recruitment and selection practices affect the performance or

development of PBL.

3. To assess the challenges associated with the recruitment and selection practices
of PBL.

5. To find out the weaknesses of the current policy of PBL.

6. To identify factors that will improve recruitment and selection practices of PBL.

1.4 Methodology of the study

The purpose of the methodology was to describe the research procedure. This
includes overall research design, the sampling procedure, the data collection method
and the data analysis procedure. The research design was descriptive in nature. The
data was gathered through personal interview and observation method.

The sample for the study was taken from the staff of Head Office of Prime Bank
Limited, Dhaka, Bangladesh. The sample unit of the study constituted all the staff
from the various departments of the banks. Out of total universe 20 respondents
have been taken for convenience. The simple random and purposive sampling
techniques were adopted in the selection of the sample units or respondents from
HRD and other departments.

¾ Primary Data

For collection of primary data, randomly employees are selected and interviewed.
Information, which we collected, was based on the questionnaires filled up by the
sample employees. Corresponding to the nature of the study direct, structured
questionnaires with a mixture of close and open-ended questions will be

3
administered to the relevant respondents within the HRD and other departments of
the bank.

¾ Secondary Data

Under secondary method we took the help of various reference books, journals
annual report of the bank which we have mentioned in bibliography and also by way
of surfing through the company website.

1.5 Company Profile

Prime Bank Limited was established in April, 1995 by a group of visionary

entrepreneurs to visualize an idea of forming a commercial bank with a different
outlook. Prime Bank is known for its superior service quality, brand image, strong
corporate governance and corporate culture. Committed for excellence, Prime Bank
is a top-tier bank in Bangladesh and reputed among regulators as distinctly
‘compliant’ and among customers as agile and responsive to change. A Bank
aligned to its vision, mission, values and strategic priorities.

Prime Bank focuses on a wide range of financial products and services which
include commercial banking through both conventional and Islamic mode, Merchant
and Investment Banking, SME & Retail Banking, Credit Card and Off-shore Banking.
It plays Leading Role in Syndicated & Structured Financing. It has expertise in
Corporate Credit and Trade Finance and made extensive market penetration with
continuous growth in Corporate, Commercial and Trade Finance sectors. Rather
than business they mainly focus on understanding customer need and trying to
anticipate their needs. Because they know, Bangladesh needs a properly managed
financial institution to achieve customer satisfaction. Through their strong
determination, Prime Bank becomes now the most popular bank among people in a
short period of time. They achieved spectacular milestones in banking sector which
signifies their excellence in banking business. The bank has been graded as a top
class bank in the country through internationally accepted CAMEL rating.

Total assets of Prime bank limited stood at Tk. 236.8 billion equivalent to USD 3.37
billion at the end of 2012. With wide customer-base Prime Bank established itself as
the Market Leader among the conventional private commercial banks for deposits
and advances.

4
Presently the Bank has 130 (One Hundred Thirty) branches, 17 (Seventeen) SME
Centre/ Branches all over Bangladesh. Out of the above 130 branches, 05 (five)
branches are designated as Islamic Banking branch complying with the rules of
Islamic Shariah. Also the Bank has 3 (Three) Off-shore Banking Units (OBU).

To keep pace with time and in harmony with national and international economic
activities and for rendering all modern services, PBL as a financial institution,
automated all its branches with computer networks in accordance with the
competitive commercial demand of time. In order to retain competitive edge,
investment in technology is always a top agenda and under constant focus. Prime
Bank Ltd. is better placed and poised to take their customers through fast changing
times and enable them compete more effectively in the market they operate.

1.5.1 Vision, Mission and Corporate Culture of PBL

¾ Vision

To be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital

adequacy, asset quality, sound management and profitability having strong liquidity.

¾ Mission

To build Prime Bank Limited into an efficient, market-driven, customer focused

institution with good corporate governance structure.

Continuous improvement of our business policies, procedure and efficiency through

integration of technology at all levels.

¾ Corporate Culture

ƒ For Customers

To provide the most courteous and efficient service in every aspect of its business.
To be innovative in the development of new banking products and services.

ƒ For Employees

By promoting their well-being through attractive remuneration and fringe benefits.

By promoting good staff morale through proper staff training and development and
provision of opportunities for career development.

5
ƒ For Shareholders

By forging ahead and consolidating its position as a stable and progressive financial
institution.

By generating profits and fair return on their investment.

ƒ For Community

By assuming our role as a socially responsible corporate citizen in a tangible manner.

By adhering closely to national policies and objectives thereby contributing towards
the progress of the nation.

By upholding ethical values and best practices.

Constantly seeking to improve performance by aligning our goals with stakeholders’

expectations because we value them.

1.5.2 Departments of Prime Bank Limited

Prime bank has several departments to maintaining its day to day operations in
smoothly and more effectively and efficiently. Departments of Prime Bank are-

x Financial and Administration Department

x Human Resources Division (HRD)

x General Banking Department

x Foreign Exchange Department

x Marketing Division

x Public Relation Department (PRD

x Information Technology Department (IT)

6
Out of the entire departments our prime concern is Human Resources Division
(HRD). The Bank acts on the conviction that Human resource is the most valuable
asset for the Bank. PBL continuously endeavor to create an organization of mutual
trust, establish an open and enabling environment where their people can work with
self respect, dignity and freedom of speech. The bank believes that their investment
in Human resource development is a key to sustainable growth. In this regard 2011
has been considered as a year of “Employee Excellence” with significant raise in the
salary, benefit for the employees. The Bank has launched comprehensive plans to
hire (recruitment and selection), develop and retain its human resource base with the
right level of skills and talent to meet current and future needs.

1.6 Scope of the study

The book deals with the recruitment and selection process in terms of theoretical
point of view and the practical use. The study will allow learning about the
recruitment and selection issues, importance, modern techniques and models used
to make it more efficient. The study will help to learn the practical procedures
followed by the leading bank. Moreover the study will help to differentiate between
the practice and the theories that direct to realize how the bank can improve their
recruitment and selection process.

1.7 Limitations of the study

The study of this kind is generally encountered with some limitations. Unavailability
of data is a major problem. Data accuracy can not be ensured as mainly secondary
data collected from Annual Report, Various Financial Stability reports, Economic
trends is used in this study. However, repeated and sincere efforts have been given
to ensure the accuracy of the data used in this study.

7
 CHAPTER TWO LITERATURE REVIEW

2.1 Recruitment: an Introduction

Recruitment is nothing but the process of searching the prospective candidates for
employment and then stimulating them to apply for jobs in the organization (Edwin B
Flippo, 1989). It is the activity that links the employees and the job seekers (David A.
DeCenzo & Stephen P. Robbins, 2005). It is also defined as the process of finding
and attracting capable applicants for employment. This process begins when recruits
are sought and ends when their applications submitted. According to Costello (2006),
recruitment is described as the set of activities and processes used to legally obtain
a sufficient number of qualified people at the right place and time so that the people
and the organization can select each other in their own best short and long term
interests. Jovanovic (2004) said recruitment is a process of attracting a pool of high
quality applicants so as to select the best among them. For this reason, top
performing companies devoted considerable resources and energy to creating high
quality selection systems. The focus of recruitment and selection according to
Montgomery (1996) is on matching the capabilities and inclinations of prospective
candidates against the demands and rewards inherent in a given job.

2.2 Overview of recruitment procedure

When an organization makes the decision to fill an existing vacancy through

recruitment, the first stage in the process involves conducting a comprehensive job
analysis. Once a job analysis has been conducted, the organization has a clear
indication of the particular requirements of the job, where that job fits into the overall
organization structure and can then begin the process of recruitment to attract
suitable candidates for the particular vacancy. Generally companies maintain the
following recruiting process:

Draw up a job analysis detailing the specific nature of the responsibilities, tasks,
duties, accountability, competencies and training required for the post. This will
provide the foundation for the recruitment process.

8
Prepare a job evaluation which is an assessment of the value of the job in relation to
other jobs, so that the rewards and remuneration can reflect its value and attract
appropriate candidates.

Vacancy Replacement or new position

Job analysis Process of collecting and analyzing information about

the job, e.g. purpose, responsibilities, competencies

Job evaluation Assessment of the value of the job in comparison to

other job to calculate the reward package required

Job description Board statement of the title, purpose, duties and

responsibilities of the job to send to applicants

Person specification Identifies the characteristics of the ideal person for the
job e.g. Knowledge, qualification, personality

Attract applicants Suitable candidates can be found from various sources

internally and externally

Figure 1: Recruitment process

Develop a job description, which is a broad description of the jobs, its title, duties,
responsibilities and requirement, purpose, authority and performance targets.

Prepare a personal profile (job / person specification), which defines the minimum
acceptable human qualities of the individual needed e.g. educational qualifications,
experience, personality, skills for the proper performance of a job. These can be
classified in a number of ways, such as essential and desirable and can be used to
create a short list of the applicants and as a checklist by the interviewers.

Decide on the best way of obtaining the right person. This may be by external
recruitment or internal by redeploying an existing employee or by outsourcing to
another company. Finally, communicating the information about the organization, the
job and the terms and conditions of service among the prospective candidates and
deciding the route for attracting qualified applicants by selecting the appropriate
media for advertising the vacancy and encouraging them to apply for jobs in the
organization.

9
2.3 Goals of recruitment

1. To create a talent pool of potential candidates for the benefits of the organization.

2. To increases the pool of job seeking candidates at minimum cost.

3. To increase the success rate of selection process by decreasing the number of

visits qualified or over qualified job applicants.

4. To identify and prepare potential job applicants who will be the appropriate
candidature for the job.

5. Finally to increase organizational and individual effectiveness of various recruiting

techniques and for all the types of job applicants.

2.4 Sources of recruitment

Recruitment takes place within a labor market. This includes a mass of available
people who have the skills to fill open positions. Sources for recruitment depend on
the availability of the right kinds of people in the local labor market as well as on the
nature of the positions to be filled. An organization’s ability to recruit employees often
hinges as much on the organization’s reputation and the attractiveness of its location
as on the attractiveness of the specific job offer. In general, the sources of
employment can be classified into the following two types:

1. Internal sources
2. External sources

Sources of recruitment

Internal sources External sources

ƒ Organizational databases ƒ Employee referrals

ƒ Promotion ƒ Job advertising
ƒ Transfer ƒ Unsolicited applicants
ƒ Job posting ƒ Campus recruiting
ƒ Employment agencies
ƒ Employee leasing companies
ƒ Special recruitment events
ƒ Internet

Figure 2: Sources of recruitment

10
2.4.1 Internal sources of recruitment

Filling vacancies from inside the organization is known as the internal sources of
recruitment. Here the important methods are explained below:

ƒ Organizational Database

The increased use of human resource information systems allows HR staff members
to maintain background and KSA information on existing employees. Analysis of
present employees is greatly facilitated by HR Audits summarize employee’s skills
and abilities. Some employers use personnel replacement chart to keep track of
inside candidates for their most important positions. These show the present
performance and promotability for each potential replacement for important positions.

ƒ Promotion

The most important source of filling vacancies from within is through promotions.
Promotion is a change within the organization to a higher position that has greater
responsibilities and requires more advanced skills. It usually involves higher status
and on increases in pay.

ƒ Transfer
Transfer is concerned with the shifting of an employee from one job to another
having similar status and responsibility. As Gary Dessler mentioned, transfer is a
move from one job to another usually with no change in salary or grade.

ƒ Job Posting

Job posting is an integral method of recruitment in which notices of available jobs are
posted in central locations throughout the organization and employees are being
given a specified length of time to apply for the available jobs.

2.4.1.1 Advantages and disadvantages of internal recruiting

Advantages Disadvantages

ƒ Employees see that competence is ƒ Employee who apply for jobs and
rewarded and morale and performance don’t get them may become
may thus be enhanced. discontented, informing unsuccessful

11
 ƒ Having already been with your firm applicants as to why they were
for some time, inside candidates may rejected and what remedial actions
be more committed to company goals they might take to be more successful
and less likely to leave. in the future is thus essential.

ƒ Promotion from within can boost ƒ Infighting for promotions can

employee commitment and provide
managers a longer-term perspective
when making business decisions.
ƒ It may also be safer to promote
employees from within, since you’re
likely to have a more accurate
assessment of the person’s skills than
you would otherwise.
negatively affect morale.
ƒ Inbreeding can stifle new ideas and
innovation.
ƒ It reduces the scope of fresh
talents.
ƒ It may increase favoritism and
nepotism.

ƒ Inside candidates may also require

less orientation and training than
outsiders.

2.4.2 External sources of recruitment

Hiring from outside the organization is known as external sources of recruitment.

Many a time suitable candidates are not available from the internal sources, thus
every organization has to tap external sources for various job positions. Many
different external sources are available for recruitment. In the tight labor markets
multiple sources and methods may be used to attract candidates for the variety of
jobs available in the organization. Some of the more prominent methods are
highlighted below:

ƒ Employee referrals / Recommendations

The employee referral method involves informing present employees of job

vacancies and asking them to recommend or refer applications to the organization.
Some organization offer cash rewards to employee as incentives for referring
qualified applicants.

12
Existing employees are the most appropriate means to let people know that the
company really does want people having specific skills/experience to apply. But
sometimes employee referrals can lead to nepotism and breaches of policy and
procedural guidelines and staff dissatisfaction with the recruitment and selection
process.

ƒ Job advertising

One of the more widely used methods of recruitment is job advertising. Good job
advertisements must first attract attention (for appropriate job-seeker); attract
relevant interest (by establishing relevance in the minds of the ideal candidates);
create desire (to pursue what looks like a great opportunity), and finally provide a
clear instruction for the next action or response.

ƒ Unsolicited applicants

Unsolicited applicants, whether they reach the employer by letter, e-mail, telephone,
or in person, constitute a source of prospective applicants.

ƒ Campus recruiting

Campus recruiting activities are usually coordinated by the University or College

placement center. Generally, organizations send one or more recruiters to the
campus. They generally review an applicant’s resume before conducting initial
interviews. The most promising recruits are then invited to visit the office or plant
before a final employment decision made.

ƒ Employment agencies

Employment agencies are a good source of professional, technical and managerial

employees and all kinds of experienced employee.

ƒ Employee leasing companies

Employee leasing companies provide permanent staff at customer companies, issue

the worker’s paychecks, take care of personnel matters and provide various
employee benefits.

ƒ Special recruitment events

Special recruitment events such as job fair are another external recruiting method.
Job fairs are events in which many different employers gather at one occasion to
interview applicants for jobs.

13
2.4.2.1 Advantages and disadvantages of external recruiting

Advantages Disadvantages

ƒ The pool of talent is much larger ƒ Attracting, contracting and

ƒ New insights and perspectives can evaluating potential employee is

be brought to the organization more difficult.

ƒ The new hire has no group of ƒ The new employee may require a

political supporters in the longer adjustment or orientation

organization. time.

ƒ Morale problems can develop

among those employees within the
organization who feel qualified to
do the job.

2.4.2.2 Internet recruiting

Internet / web based recruitment have two main features; firstly job boards allow
member companies to post job vacancies where as on other hand, CV (curriculum
vitae) data base allows the candidates to upload their résumés, later to be included
in searches by member companies. The advantages and disadvantages are as
follows:

Advantages Disadvantages

ƒ Recruiting cost savings ƒ More unqualified applicants

ƒ Recruiting time savings ƒ Many applicants are not seriously
ƒ Expanded pool of applicant seeking employment
ƒ Access limited to some applicants

2.5 Selection: an Introduction

Selection can be conceptualized in terms of either choosing the fit candidates, or

rejecting the unfit candidates, or a combination of both. So, selection process
assumes rightly that there is more number of candidates than the number of
candidates actually selected, where the candidates are made available through

14
recruitment process. According to Heinz Weihrich & Harold Koontz (2002), selection
is the process of choosing the most suitable person from within and outside of an
organization for the current position or for the future positions. In this process,
relevant information about applicant is collected through a series of steps so as to
evaluate their suitability for the job to be filled. On other hand, selection is the
process of assessing the candidates by various means and making a choice
followed by an offer of employment (Graham, 1998).

Therefore, in simple terms, selection is a process in employment function which

starts immediately upon receipt of resumes and application letters, the major
concern being reviewing resumes for basic qualifications. A job seeker who does not
meet the required qualifications is not an applicant and should not be considered. An
applicant who is hired must be meet the required qualifications listed in the job
specification. In this regard, selection is a process of matching the qualifications of
applicants with the job requirements (Mathis & Jackson). Selection is much more
than just choosing the best candidate. It is an attempt to strike a happy balance
between what the applicant can and wants to do and what the organization requires.

2.6 Difference between recruitment and selection

Both recruitment and selection are the two phases of the employment process. The
differences between the two are:

Recruitment Selection

Recruitment involves identifying the Selection is a process of weeding out

sources of human resources and unsuitable candidates and finally
stimulating them to apply for jobs in an choosing the most suitable persons out
organization of all the applicants.

The basic purpose of recruitment is to The basic purpose of selection process

attract maximum number of candidates is to choose the best candidate out of
so that more options are available. the available candidates to fill the
various positions in the organization.

Recruitment is a positive as it aims at Selection is a negative process as it

increasing the number of applications involves rejection of the unsuitable
for wider choices. candidates.

15
 Recruitment is concerned with tapping Selection is concerned with selecting
the sources of human resources. the most suitable candidate through
various interviews and tests.

The outcome for recruitment is The outcome for selection process is in

application pool which becomes input the form of finalizing candidates who
for selection process. will be offered for jobs.

2.7 Steps in the selection procedure

Selection is subject to a number of legal concerns, especially the equal employment

opportunity (EEO) regulations and laws. That’s why selection activities follow a
standard pattern, beginning with an initial screening interview and concluding with
the final employment decision. Selection process consists of series of steps, at each
stage, facts may come light which may lead to the rejection of the applicant. It is a
series of successive hurdles of barriers which an applicant must cross. These
hurdles or screens are designed to eliminate an unqualified candidate at any point in
the selection process. But the number of steps in selection procedure and the
sequence or steps varies from organization to organization. Every organization,
therefore designs a selection procedure which suits its requirements. However, the
principal steps involved in selection procedure are as follows:

1. Preliminary Interview

The preliminary interview is an excellent opportunity for HRD to describe the job in
enough detail so the candidates can consider whether they are really serious about
applying. Sharing job description information with the individual frequently
encourages the unqualified or marginally qualified to voluntarily withdraw from
candidacy, with a minimum of cost to the applicant or the organization.

2. Completed Application

Most companies ask the applicant to complete a application from that provides a
place for him or her to record identifying data such as name, address, job for which
he or she applying and information covering education, work experience, etc.

16
Factors that might lead to a negative decision at this point include inadequate or
inappropriate experience, or appropriate or inappropriate education. There might
also be other “red flags” identified, such as gaps in the applicant’s job history, many
brief jobs or numerous courses and seminars instead of appropriate education.

Failed to meet minimum qualifications

Initial screening

Passed

Failed to complete application

Completed
application
Passed

Failed test
Employment Test

Passed

Passed
Failed to impress interviewer Comprehensive Conditional
interview job offer

Passed

Problems encountered Background

examination if
required
Reject Passed
Applicant

Unfit to do essential Medical/physical

elements of job examination if
required (conditional
job order made)

Able to perform
essentials
elements of job

Placement job
offer

Figure 3: Selection process

17
3. Employment Test

The primary objective of testing is to obtain data about the applicants that help to
predict their probable success in the given responsibility. If a review of an application
form reveals no information that would disqualify the candidate, he may then be
given one or more tests. The most commonly tests can be classified as follows:

ƒ Intelligence tests- are designed to measure mental capacity and to test memory,
speed of thought and ability to see relationships in complex problem situations.

ƒ Aptitude tests- are constructed to discover interest, existing skills and potential
for acquiring skills.

ƒ Personality tests- Tests that use projective techniques and trait inventories to
measure basic aspects of an applicant’s personality, such as introversion,
stability and motivation.

ƒ Interest tests- These tests are an inventory of a candidate’s like and dislikes in
relation to work. They are designed to discover a person’s area of interest and to
identify the kind of work that will satisfy him.

ƒ Graphology tests- Use of a trained analyst to examine a person’s handwriting to

assess the personality, emotional problems and honesty.

ƒ Dexterity tests- The person who is “clever with his head” is not necessarily
“clever with his hands”. In fact, there is little relationship between intelligence and
the ability to use one’s hands and figures skillfully. There are two types of
dexterity -manual and finger that have been found to be each other. Some jobs
require good finger dexterity.
¾ Precaution in using Tests
Tests should be used only when found reliable and valid
ƒ Test of Reliability
It implies the characteristics that refer to the consistency of scores obtained by the
same person when retested with the identical or equivalent tests.
ƒ Test of validity: There are two types of test of validity-

x Content Validity: It implies the extent to which the contents of a test are related
to the job requirements.

x Criterion Validity: It implies the degree to which test scores are related to job
performance.

18
4. Comprehensive Interview

An interview is a procedure designed to predict future job performance on the basis

of applicants’ oral responses to oral inquiries. The individual who “passes” the tests
is then ready for a comprehensive interview, is ordinarily for the purpose of verifying
information provided on the application blank and for obtained additional information
that will be useful in assessing the candidate’s qualifications.

5. Background investigation and reference check

Area of investigations and checks:

ƒ Reference checks
ƒ Background employment checks
ƒ Criminal records
ƒ Driving records
The purposes of the reference check are to obtain information about past behavior of
applicants and to verify the accuracy of information given on the application blank.

Reasons for background investigation are to verify factual information provided by

applicants and to uncover damaging information.

6. Conditional job offer

If a job applicant has passed each step of the selection process so far, it is typically
customary for a conditional job offer to be made. Conditional job offer usually are
made by an HRM representative. In essence, what the conditional job offer implies is
that if everything checks out okay passing a certain medical/physical test-the
conditional nature of the job offer will be removed and the offer will be permanent.

7. Physical examination

The physical examination is normally required only for the individual who is offered
the job, and the job offer is often contingent on the individual passing the physical
examination.

8. Final selection decision

The responsibility for making the final selection decision is assigned to different
levels of management in different organizations.

19
In many organizations, the HR Department handles the completion of application
forms, conducts preliminary interviews, testing and reference checking and arranges
for physical examinations. The comprehensive interview and final selection decision
are usually left to the manager of the department with the job opening. Such a
system relief the manager of the time consuming responsibilities of screening out
unqualified and uninterested applicant.

9. Placement & induction

The applicant who passes all the foregoing screening is assigned to a vacant
position in a department where the Manager or Supervisor has interviewed and
accepted him. At this point induction program will begin.

2.8 Prerequisites for successful selection process

The selection process can be successful if the following requirements are satisfied:

1. Someone should have the authority to select, where this authority comes from
the employment requisition as developed analysis of the workload and workforce.

2. There must be some standard of human resource with which applicant can be
compared. In other words, a comprehensive job description should be available
beforehand.

3. There must be a sufficient number of applicants from whom the required number
of employees may be selected.

In this regard, recruitment and selection process invariably influence the whole
matter of employment in the organization

2.9 Importance of selection process

Selection means to choose the person from among the prospective candidates to fill
in the vacant posts in the organization. The success of the organization depends
upon the quality of human resources selected for the job. Thus selection of
personnel is the most important function of the Human Resource Management. The
importance of selection may be judged from the following facts:

20
ƒ Procurement of qualified and skilled workers

Scientific selection facilitates the procurement of well qualified and skilled workers in
the organization. It is in the interest of the organization in order to maintain the
supremacy over the other competitive firms. Selection of skilled personnel reduces
the labor cost and increases the production. Selection of skilled personnel also
facilitates the expansion in the size of the business.

ƒ Provides better performance

Employees with right skills will do a better job for any company and for the owner.
Employees without these requisite skills would not perform effectively and the
company performance will suffer to a great extent. So there is a time to screen out
undesirables and to choose the better and perfect candidate that can effectively
contribute to company success.

ƒ Reduces cost of training and development

Proper selection of candidates reduces the cost of training because qualified

personnel have better grasping power. They can understand the technique of the
work better and in no time. Further, the organization can develop different training
programmers for different persons on the basis of their individual differences, thus
reducing the lime and cost of training considerably.

ƒ Reduces legal obligations

It is important because of the two legal implications of incompetent hiring.

Firstly equal employment law requires nondiscriminatory selection procedures for

selected groups.

Secondly, courts will find the employer liable when employees with criminal records
or other problems use access to customers’ homes to commit crimes. Lawyers call
hiring workers with such backgrounds, without proper safeguards, negligent hiring.
So the negligent hiring highlights the need to think through what the job human
requirements are. So in order to avoid the concept of negligent hiring, it is necessary
to make a systematic effort in order to gain relevant information about the applicant
and verify all the documentation.

21
ƒ Reduces personnel problems

Proper selection of personnel reduces personnel problems in the organization. Many

problems like labor turnover, absenteeism and monotony shall not be experienced in
their severity in the organization. Labor relations will be better because workers will
be fully satisfied by the work. Skilled workers help the management to expand the
business and to earn more profits and management in turn compensate the workers
with high wages, benefits etc.

Finally it can be said that, recruitment and selection process are important practices
for human resource management and are crucial in affecting organizational success.

2.10 Factors affecting recruitment and selection process

Recruitment and selection process is affected by many environmental factors. There

are many external and internal factors that affect recruitment and selection.

ƒ External factors

External factors can be grouped into educational, socio-cultural, legal-political

economic conditions. The economic environment- including the competitive situation
determines the external supply of, and demand for human resources. Legal and
political constraints require that firms follow laws and regulations issued by
Government. The following discussion focuses on the Labor market and equal
employment opportunity.

x Labor market

Conditions of the labor market are a major factor in the design of the recruiting and
selecting process. Labor market affects the size and quality of the applicant pool
which in turn affects the choice of selection methods.

x Governments and society

Several laws have been passed that provide for equal employment opportunity
(EEO). Bangladesh Labor Law-2006, prohibit employment practices that discriminate
on the basis of race, color, religion, national origin, sex or age. Thus Equal
employment legislation remains the most significant influence on the design of
selection systems.

22
ƒ Internal factors

Besides there are also many internal factors, such as organizational goals, strategies,
objectives, tasks, technology, organizational structure, the kinds of people employed
by the organization, the reward system and various kinds of policies affect
recruitment and selection process of an organization.

Individual differences between job applicants affect recruitment because it is process

of attraction. Recruitment must also ensures that the requirements that the job
outcomes are likely to motivate them to perform effectively.

2.11 Challenges of recruitment and selection process

An organization’s business performance relies heavily on having the right human

resource capability to support the business needs and the recruitment and selection
function is the first step in achieving this. Potential financial and business risks are
associated with performing this key strategic human resource strategy and these can
emerge throughout the process from sourcing potential candidates through to the
negotiation of the employment contract.

Costs to an organization from a financial and business performance perspective can

be quite high if a poor selection is made. For example, poor selection decisions can
result in absenteeism, employee turnover, work related accidents and higher training
costs. According to Kaplan and Norton (2004), a common problem in recruitment
and selection is poor HR planning. Rigorous HR planning translates business
strategies into specific HRM policies and practices. This is particularly so with
recruitment and selection policies and practices. The key goal of HR planning is to
get the right number of people with the right skills, experience and competencies in
the right jobs at the right time at the right cost. Detailed and robust recruitment and
selection policies, such as recruitment and selection procedures, assessing criteria,
talents auditing and processing the information about the labor market are important
in recruiting and deploying appropriate employees at the right time. Moreover,
effective recruitment and selection is possible only if there is a dedicated and
competent HR team (Kaplan and Norton, 2004).

23
Misleading communications regarding employment contract provisions can result in
the loss of a desired candidate and potential claims for redress through industrial
mechanisms. To minimize the risks organizations need to:

ƒ Effectively conducting job analysis and targeting right potential candidates

ensures a good match between applicants and the jobs.

ƒ Design and implement credible and transparent recruitment and selection

frameworks and processes;

ƒ Ensure compliance with anti discrimination legislation throughout the process;

ƒ Select assessment methods and tools appropriate for predicting the required
performance outcome for the position;

ƒ Select the most appropriate method/s for sourcing potential candidates;

ƒ Ensure that recruitment and selection policies and practices are strategically
integrated with business.

The recruitment and selection function should also have measures in place to
evaluate performance in relation to the time taken to fill vacancies; the costs
associated with conducting the process internally/externally; and quality of candidate
selection and retention.

Dess and Jason (2001), suggest that in business strategy implementation the
involvement of line managers in the entire staffing process (i.e., drafting of job
descriptions and person specifications, setting selection criteria and being on the
panel of recruitment) is vital for ensuring recruitment and selection to meet business
needs. In other words, the line managers are the owner of the recruitment and
selection process along with HR playing a facilitator role.

2.12 Changing context of recruitment and selection decisions

Recent waves of organizational restructuring have dramatically changed and

destroyed existing employment relationships. Many organizations are being
transformed from structures that are built on functions and jobs, to those where
focused, self-directed work teams, made up of empowered individuals with diverse
backgrounds, are replacing traditional specialized workers. Cran, (1995) highlighted

24
that firms need adaptable people who can adjust to rapidly changing customer needs
and operational structures, while Burton (2001) argues that employees, and the way
they work, comprise the crucial difference between successful and unsuccessful
organizations. He argues that as technology increases and product life cycles
shorten, the major source of competitive advantage will be the individual worker.

Delery and Doty, (1996) further developed this view of the prevailing business
environment and reiterated that: with the sweeping changes in today's business
climate and the rise of re-engineering to meet the needs of organizations in the area
of downsizing or cost reduction, firms must be equipped to recruit individuals who
can operate in a non-structured or “virtual” organization. Even in today's technically
advanced business environment, the human factor will always be instrumental to the
success of an organization.

Furthermore, Drucker, (1999) indicates that, many companies try to boost

productivity with fewer people, those that remain are being asked to assume more
tasks, roles and responsibilities. He proposes that, as this trend continues,
companies will be asking fewer employees to know more, do more, change more
and interact more and thus interest is increasingly focused on identifying the
recruiting sources that are most likely to yield high quality employees and the
selection methods that best predict future job performance.

2.13 Systems approach to recruitment and selection

Effective recruitment and selection processes will place appropriate people into jobs
so that organizations can meet their strategic and operational goals. Recruitment
strategies must align to the organization’s strategic direction to enable appropriate
workforce planning and alignment of resources to successfully move the business
forward. This plan is translated into position and job requirements which are matched
with such individual characteristics as intelligence, knowledge, skills, attitudes and
experience.

To meet organizational requirements, an organization recruits and selects human

resources. This must be done with due consideration for the internal environment
(such as company policy, supply of and demand for human resources, and
organizational climate) and external environment (Laws, regulations, availability of

25
efficient human resources) After human resource have been selected in positions
they must be introduced with the job. The orientation involves learning about the
company, its operations and its social aspects. This learning resource will help the
HR Manager take a strategic view when they plan a recruitment and selection event.

Managerial
requirements External
plan environment

Positions
requirements
and job design
Recruitment
Selection Orientation Managerial Enterprise
Placement Performance performance
Individual
characteristics

Development Appraisal
and reward
Internal
Environment

Promotion
Demotion
Placement

Figure 4: Systems approach to selection

The new selected staff then carry out their functions, resulting in their performance
eventually determines organizations performance. Subsequently, the performance is
appraised and on the basis of this evaluation, the staff and organizational
development is initiated. Finally the staff may be promoted or transferred on the
basis of this appraisal.

26
 CHAPTER THREE GENERAL FINDINGS

The success of a bank or an organization is directly linked to the performance of

those who work for that business. Under-achievement can be a result of workplace
failures. For this reason, Prime Bank Limited tries to attract and retain highly
qualified people who will perform best in their particular positions. The bank not only
tries to attract well-qualified candidates but also tries to identify and recruit people
who are really interested to work in the bank for a certain period of time. As an
employer, PBL also has certain practices and policies regarding recruitment and
selection, which are discussed below:

3.1 Core principles of PBL

PBL states in its vision that staff are its most valuable resource. It is clear that the
staffs of the bank have a crucial role to play in achieving the challenging mission,
vision and strategic goals set by the bank authority. The bank therefore needs to be
able to attract and retain staff of the highest caliber. That’s why PBL formulate the
core principles that are outlined below:

ƒ PBL will seek to attract the best candidate for the job based on merit and
ensure the identification of the person best suited for the job and the
organization.

ƒ The Bank will ensure that the recruitment and selection of staff is conducted in
a professional, timely and responsive manner and in compliance with current
employment legislation. The Bank will provide appropriate training,
development and support to those involved in recruitment and selection
activities in order to meet this core principle.

ƒ Recruitment and selection is a key public relations exercise and should

enhance the reputation of the Bank. PBL will treat all candidates fairly,
equitably and efficiently, with respect and courtesy, aiming to ensure that the
candidate experience is positive, irrespective of the outcome. A
comprehensive monitoring and analysis process will be established in support
of this principle.

27
 ƒ PBL will promote best practice in recruitment and selection. It will continuously
develop its recruitment and selection practices to allow new ideas and
approaches to be incorporated.

ƒ PBL will ensure that its recruitment and selection process is cost effective

3.2 Employee code of ethics and business

‘Prime Bank employee code of ethics and business conduct’ is a framework of

ethical behavior for all the employees of the organization. Following are the key
principles of ‘Prime Bank code of ethics and business conduct’:

ƒ Provide service to customers with uncompromising integrity, utmost respect,

unwavering responsibility and dedicated citizenship;

ƒ Protect privacy and confidentiality of customer information;

ƒ Prevent money laundering and fraud;

ƒ Demonstrate workplace respect.

It is a reflection of PBL’s role as a socially responsible corporate citizen which

believes in providing the most courteous and efficient service through innovative
banking services and products.

3.3 Recruitment philosophy of PBL

The recruitment philosophy of PBL is as follows:

ƒ PBL usually follows internal recruitment but when the need arises they go for
external recruitment to fill up the vacancies.

ƒ PBL always likes to hire people for long period of time, bank give more
emphasis on them who wants to get promoted to mid level positions.

The corporate culture of PBL is to treat employees with extraordinary employee not
general employee. Together they form a family and they have a close bond which
motivates them to work as a team.

3.4 Steps in recruitment process of PBL

Recruitment process involves a systematic procedure from sourcing the candidates

to arranging and conducting the interviews and requires many resources and time.
The recruitment process of PBL consists of the following steps:

28
 1. Recruitment process generally begins when the Human Resource division
receives requisitions for recruitment from any department or any branch of the
Bank. The HR requisitions contain details about the position to be filled.

2. Locating and developing the sources (internal / external) of required number

and type of employees.

3. Identifying the prospective employees with required characteristics

4. Communicating the information about the organization, the job and the terms
and conditions of service.

5. Encouraging the identified candidates to apply for jobs in the organization.

6. Evaluating the effectiveness of recruitment process.

3.5 Recruitment sources of PBL

Most employers combine the use of internal and external sources of recruitment.
Organizations that face a rapidly changing competitive environment and conditions
may put emphasis on external sources in addition to developing internal sources.
The HR division of PBL emphasizes more on the external recruitment sources rather
than internal sources.

3.5.1 Internal sources of recruitment

Existing employees of an organization provide the internal sources. At PBL

promotion, transfer and job postings are sometimes used for recruiting people
internally.

ƒ Promotion

The most important source of filling vacancies from within is through promotions. In
this case, PBL has some specific criteria for promoting an employee. If there is any
vacancy and then all those employees having all the qualifications of the senior level
post can apply for the job. Obviously each employee can get this opportunity for
higher status, remuneration, job facilities with vital responsibilities through a formal
interview.

29
ƒ Transfer
Generally, after 3 to 5years, an employee is transferred from one department
to another. PBL uses this transfer method for several reasons such as,

x To create motivation and to remove monotony from the job.

x To secure its business operation by removing dishonest activity in a particular

department.

x Keep balance in a particular department by transferring experienced

employees to another department, when a department is filled by a greater
number of new employees.

ƒ Job Posting

PBL also utilizes the benefits of internal recruitment by posting the job internally. HR
division of PBL informs the other departments and branches through phone and
sometimes by giving a formal letter.

3.5.2 External sources of recruitment

PBL mostly utilizes the external sources of recruitment such as advertisements in

newspapers and websites. When an organization desires to communicate to the
public that it has a vacancy, advertisement is one of the most popular methods used.
The media of advertisement often depends on the type of the job. PBL gives job
advertisements only in renowned daily newspapers.

ƒ Newspaper advertisement

To draw the attraction of right candidates, PBL HR Division publishes their

advertisement for several positions in national daily newspapers, such as, Daily
Prothom Alo, Daily Ittefaq, Daily Star, etc.

ƒ Website advertisement

Like many employers, PBL has found its own website to be more effective and
efficient for recruiting employees. The job seekers are encouraged to e-mail their
resume or complete online applications on the website of PBL.

30
3.6 Selection process of PBL

Some organizations may give importance to various tests, while others may
emphasize interviews and reference checks. Similarly a single brief selection
interview might be enough for applicants for lower level positions, while applicants
for managerial jobs might be interviewed by a number of experts. PBL gives
emphasis to both tests and interviews and the HR Division of PBL has different
selection committees for applicants to fill both the lower level and higher level
positions. The typical selection process of PBL is outlined here.

Inviting application

CV screening

Written test

Face-to-face interview

Selection and offer letter

Medical examination

Joining

Figure 5: Selection process of PBL

ƒ Receipt of Application

This is the first selection step to join PBL. Candidates either send their CVs in
application for a specific vacancy, or they send unsolicited CVs for any suitable
position. There is a box in front of the HR Division where interested person drop their
unsolicited CV. The HR Division collects job applications against each job vacancy.
In case of newspaper advertisements, the applicants are given at least 3 weeks to
apply. After a specific period, each and every job is closed for applying.

31
ƒ CV Screening

The next step is the short listing of CVs. Usually the HR Division is occupied in the
short listing. To recruit experienced bankers, CVs may be sorted out from the
collection of unsolicited CVs received. Or, another possibility is to find out
experienced and competent bankers in other banks. Once potential candidates are
thus found out, they are contacted and called for an interview.

ƒ Written Test

The primary aim of testing is to obtain data about the application that help predicting
their probable success in a job. A variety of tests are used as selection tools. PBL
combines intelligence tests and aptitude tests in the form of written tests for selection.
Generally PBL take written test for entry level position like Trainee assistant and for
Management Trainee level. Sometime BIBM/IBA takes the written test on behalf of
PBL.

The content of written test questions vary based on the job positions and source of
recruitment. Generally the written test consists of two parts; Multiple Choice
Questions (MCQ) part and Descriptive/Comprehensive written part. For the entry-
level job positions, the MCQ part combines questions on general knowledge,
analytical problems or critical reasoning, grammatical rules and translations, and
mathematical problems.

The descriptive/comprehensive written part contains the following questions; a topic

is given and an applicant has to show logic in favor or disfavor, a topic is given and
an applicant has to describe it in 200 words, mathematical problems, an application
or letter on a given subject, reading comprehension, translation of sentences from
Bengali to English and English to Bengali. For the mid-level job positions, the test
contains almost the same contents with addition of some questions regarding the
banking sector, general banking functions, sometimes specialized banking functions
based on the job description.

ƒ Face-to-Face Interview

PBL has an interview panel consisting of HR professionals and top level

management to conduct bias free and smooth interview session. For selecting

32
Trainee Assistant Officer (TA) and Management Trainee Officer (MT)s’ basically MD,
DMD and Head of HR conduct interview session. For recruiting experienced
professionals several interviews may be conducted. PBL arranges different types of
interviews based on the job position. Generally structured interviews are conducted
for both the entry and mid-level job positions. Structured interviews use a set of
standardized questions asked of all job applicants (Mathis & Jackson, 2005).

In the case of entry-level job positions the applicants are asked some general
questions, questions on academic background, current national and global issues,
problem solving questions (categorized as behavioral and situational interviews), etc.
For the midlevel job positions the applicants are asked some additional questions
based on the job description. In the case of the top-level job positions, the applicants
are asked some more questions to identify their in-depth knowledge of industrial
policy, fiscal policy, banking policy, strategic planning, etc. A sample of the interview
questions is provided. All the interviews are conducted by the respective recruitment
and selection committee.

ƒ Selection and Offer Letter

At the interview session the candidate are evaluated by the interview panel. The
management team decides which one will be selected. After that an offer letter is
made for the candidate. Once the candidates accept the offer letter, they are given
the Appointment letter. Rejected candidates are not informed.

ƒ Medical Examination

Like other bank PBL also take physical examination of the selected employees
whether the applicant is fit for the job or not. PBL has contract with renowned
Diagnostic Center in Dhaka city, the whole checkup is conducted by these two
diagnostic centers.

ƒ Joining

Once the candidate passed physical examination are given the joining and
placement letter. The newly recruited employees are asked to report their respective
joining place within one week.

33
 CHAPTER FOUR DISCUSSION OF RESULT

This chapter explains information gathered from the field through the use of
questionnaires. These are analyzed to emphasize response from respondents using
various forms of graphical representations.

4.1 Demographic Data

On demographic data, questions were asked on gender, academic qualifications and

number of years at job in PBL. From the population size of twenty (20), eight (8)
respondents were selected from the Human Resource Division while twelve (12)
respondents of the other departments were also selected.

Table 1: Gender Distribution

Gender Frequency

Male 16

Female 4

Total 20

Source: Primary data

Findings: Table 1 shows that among the entire respondent there were 16 male with
4 female respondents.

Gender Distribution

Female
20%

Male
80%

Figure 6: Gender Distribution

34
Interpretations: From Figure 6, it is realized that 80% of the total number of
participants were male while 20% of the total number were female. This clearly
shows that there were slightly more male participants than female in this survey and
it may be as a result of the sample technique used in selecting respondents or that
the bank has more male workers than female.

4.1.1 Educational qualification of respondents

This was to find out the highest educational qualification of the various respondents
in the study area, responses are as follows:

Table 2: Educational Qualification

Educational Qualification Frequency

MBA 10

MBM 3

BBA 5

Graduation 2

Total 20

Source: Primary data

Findings: Table 2, shows that 10 respondents had MBA Degree from various fields,
while 3 had MBM degree, 5 had BBA and only 2 completed their graduation.

Educational Qualification

Graduation
10%
BBA
25%
MBA
50%

MBM
15%

Figure 7: Educational qualification

35
Interpretations: From the figure 7, it was realized that 50% respondents had MBA
Degree from various fields, while 15% had MBM degree, 25% had BBA and 10%
completed their graduation. From the figure it is realized that the organization has
several level of qualified personnel to help carry out the day to day activities of the
bank.

4.1.2 Number of years spent at PBL

This was to find out the number of years respondents had spent at their work post,
answers are illustrated as follows:

Table 3: Numbers of years spent at PBL

Numbers of years spent Frequency

1-6 14

7-12 5

13-18 1

Total 20

Source: Primary data

Findings: Table 3 shows that majority of respondents 14 had worked with the bank
between 1-6 years, while 5 respondents had spent between 7-12 years at the bank
and only 1 respondent spent 13-18 years at the Bank.

Numbers of years spent

5%

25%

1-6 Years
7-12 Years
13-18 Years

70%

Figure 8: Number of years spent at PBL

36
Interpretations: Figure 8 shows that 70% of the respondent among the population
had worked with the bank between 1-6 years, while 25% had spent between 7-12
years at the bank and only 5% respondents spent 13-18 years at the Bank. This
clearly shows that the majority of respondents had spent at least a year to six (1-6)
years at the bank.

4.2 Formal policy for recruitment and selection of employee

The researcher wanted to know if the bank had any formal policy for recruitment and
selection of employees, responses are as follows:

Formal policy for recruitment and selection

No
0%

Yes
100%

Figure 9: Formal policy for recruitment and selection of employee

Interpretations: Figure 9 shows that, out of 20 respondents, all agreed with the
question, that the bank had a formal policy for recruitment and selection of
employees. Respondents were further asked to state this policy. Twelve (12)
respondents sated that recruitment and selection is mainly an internal arrangement,
the human resource division accesses the various departments where there are
vacancies and the division then assesses staff requirements with those qualifying
appointed to fill these vacancies.

37
4.3 Outline of job analysis

This was to find out from respondents if the PBL outlines roles, duties and
responsibilities for a particular job.

Table 4: Outline of job analysis

Outline of job analysis Frequency

Yes 18

No 2

Total 20

Source: Primary data

Findings: Table 4 shows that, from the total number of respondents, 18 answered
that the Bank outlines job analysis before advertising a vacant position but 2
respondents however answered in the negative that the PBL does not outline job
analysis.

Outline of Job Analysis

No
10%

Yes
90%

Figure 10: Outline of job analysis

Interpretation: As data obtained from figure 10, the majority of 90% of the
respondents answered in the affirmative that the Bank outlines job analysis like the
roles, duties and responsibilities before advertising a vacant position. But 10% of the
respondents however answered in the negative that the PBL does not outline job
analysis in terms of duties and responsibilities before advertising. From the
discussion it is realized that the majority of respondents agreed with the statement
that the bank outlines job analysis before advertising.

38
4.4 Methods of recruitment by PBL

In order to know the various types of methods used by PBL in selecting employees,
this question was asked. Answers from respondents are as follows;

Table 5: Methods of recruitment by PBL

Methods of Recruitment by PBL Frequency

Employee Referrals 6

Employment Agencies 1

Professional Associations 2

Newspaper Advertisement 11

Total 20

Source: Primary data

Findings: Table 5 shows that, 11 respondents answered that the bank uses
newspaper advertisements, 6 respondent answered that the bank uses employees’
referrals, 2 respondents stated that the bank uses professional associations and
only 1 respondents explained that the bank uses recruiting agencies as a means of
recruiting.

Methods of Recruitment

30%
Employee Referrals
Employment Agencies
55% Professional Associations
5% Newspaper Advertisement

10%

Figure 11: Methods of recruitment by PBL

Interpretations: The figure 11 represents that 55% respondents stated that the bank
uses newspaper advertisements in advertising for jobs or as a recruitment section

39
tool, respondents explained that newspapers are read by lots of people and
therefore lots of people are covered.

30% respondent was of the opinion that the bank uses employees’ referrals as a
means of recruiting that is employees inform their friends and relations that the bank
has vacancies.

10% respondents shared that another method of recruiting was through professional
associations.

Finally, only 5% respondents stated that the bank relies on recruiting agencies in
selecting employees for the bank.

According to Armstrong (1991) organizations and employers have a number of

methods from which to choose, including advertising, employment agencies, and
through direct mail. Advertising can be used to publicize and to recruit participants.
Recruitment via advertising has the advantages of low cost and convenience
according to Armstrong. Drucker, 1999 also stated that for organizations to get the
best of employees recruitment procedures need not be limited to one method. It is
possible and often desirable to combine methods to enhance the recruitment
success of a particular project.

4.5 Recruitment and selection practices of PBL

In a related issue, respondents were asked if the bank had a structured recruitment
and selection practices for new employees, respondents had this to say:

Table 6: Recruitment and selection practices of PBL

Recruitment and selection practices Frequency

Educational Qualification 12

Interview 5

Training 3

Total 20

Source: Primary data

40
Findings: Table 6 shows that, twelve (12) respondents answered that PBL
emphasized educational qualifications, five (5) respondents answered that interview
is another practice in the selection of new employees and three (3) respondents
stated that training is another practices for recruitment and selection.

Recruitment and selection practices

15%

Educational Qualification
Interview

25% Training
60%

Figure 12: Recruitment and selection practices of PBL

Interpretations: All twenty (20) respondents agreed that the bank had structured
recruitment and selection practices in place for new employees. From the population
60% respondents agreed that one of such structures and selection practices was
educational qualifications, thus one or potential employees should have the
necessary educational qualification in order to be considered.

An interview is another practice in the selection of new employees; all prospective

employees must go through an interview process to be assessed, if the person
involved is capable of the work to be done, 25% respondents shared this view.

15% respondents explained that after the selection process through the interview,
new employees are trained in the selected positions they were employed before they
are fully allowed to start their new roles or jobs.

4.6 Factors considered before recruitment and selection

Related to the above respondents were asked which of the following were
considered for recruitment and selection of employees, that is academic
qualifications, work experience, interviews and tests. Table and figure illustrates
further:

41
 Table 7: Factors considered before recruitment and selection

Factors Considered before recruitment and selection Frequency

Tests 4

Academic Qualification 8

Interview 5

Work experience 3

Total 20
Source: Primary data

Findings: Table 7 shows that out of 20 respondents 4 agreed that tests, three (3)
answered that work experience, 5 respondents stated that interviews and 8
respondents agreed that academic qualifications are selection tools for new
employees.

Factors considered before recruitment and selection

15% 20%

Tests
Academic Qualification
25% Interview
Work experience

40%

Figure 13: Factors considered before recruitment and selection

Interpretations: Figure 13 shows that, out of twenty (20) respondents, majority of

40% of the respondents agreed that academic qualifications are the prime selection
tools for new employees, respondents explained that good academic qualification
most often guaranteed an individual the job and it is most often considered. While
25% respondents opted for interviews; they explained that interviews are conducted
to test the ability of new employees and how convincing they are before being
selected. 20% agreed that tests are considered in selecting an employee, this is

42
usually to test the general knowledge of prospective employees. 15% employees
were of the opinion that work experience played an important role in the selection
process as those with experience are considered to be the best for the job.

The literature revealed that a wide range of methods, such as application forms,
interviews, formal tests, references, assessment centers and official transcripts are
used by firms in the selection and recruitment process. An organization chooses a
method that is most appropriate to the job positions.

4.7 Challenges of recruitment and selection

The researcher wanted to find out from the HR Division the challenges the Division
encounter in the recruiting and selecting of employee. Responses are as follows.

Table 8: Challenges of recruitment and selection

Challenges of Recruiting and Selection Practices Frequency

Labor Turnover 1

Competition 4

Lack of Key Talents 3

Total 8

Findings: Table 8 shows that, out of 8 respondents of HRD, 4 answered that

competition from other bank, 1 answered that labor turnover and 3 stated that lack of
key talents are major challenges faces by PBL.

Challenges of Recruiting and Selection

Labour Turnover
13%

Lack of Key
Talents
38%
Competition
49%

Figure 14: Challenges of recruitment and selection practices at PBL

43
Interpretations: One major challenge facing recruitment and selection process at
PBL is the availability of key talents in the job market for specialized areas within the
bank. 38% of the population who shared this view stated that PBL as an institution
needs key talents to help run the bank and that is quite difficult to find in the job
market. 49% of the populations were of the opinion that another challenge facing
PBL in its recruitment and selection processes is competition from other institutions.
Respondents explained that financial institutions in the country are spring up fast,
and they are all recruiting the best in order to stay on top. Recruiting in this sense
means competing with other institutions for the same human resource. Another
challenge according to 13% of the population was labor turnover, the respondents
explained that most employees leave the institution shortly after being offered an
appointment which goes a long way to affect the bank as money has to spent again
in recruiting and selection process.

According to Kaplan and Norton, 2004, in the literature review, a common problem in
recruitment and selection is poor HR planning but the analysis revealed that labor
turnover; competition and lack of key talents are challenges that face recruitment
and selection which could be beyond HR departments.

4.8 Effectiveness of recruitment and selection practices of the Bank

This was to find out from respondents how effective the recruitment and selection
practices of PBL, respondents were to choose one of the following; very effective,
good, not effective, indifferent and bad as their answers.

Table 9: Effectiveness of recruitment and selection

Effectiveness of recruitment and selection Frequency

Very effective 4

Good 11

Not effective 2

Indifferent 3

Total 20

Source: Primary data

44
Findings: Findings: Table 9 shows that, out of all the respondents 4 respondents, 11
respondents and 2 respondents respectively answered that selection and
recruitment practices were very effective, good and not effective.

Effectiveness of recruitment and selection

Indifferent Very effective

15% 20%
Not effective
10%

Good
55%

Figure 15: Effectiveness of recruitment and selection

Interpretations: Out of all respondents, 20% respondents were of the opinion that
the selection and recruitment practices were very effective and that the right
materials are employed for the bank. 55% respondents believed that the recruiting
and selection practices were good; they explained that the methods needed for the
right person to be employed are used. 10% of the respondents were of the opinion
that the recruitment and selection practices of the Bank were not effective. They
explained that these practices always give room to favoritism especially with
employee referrals while some are employed without necessarily going through all
the right procedures.

15% respondents were however indifferent to the question that the recruitment and
selection practices were effective or otherwise.

4.9 Impact of recruitment and selection practices on employee performance

This was to find out from respondents if the selection and recruitment practices had
affected their performance, responses are as follows:

45
 Impact of recruitment and selection practices on employee’s performance

3
No

17
Yes

0 2 4 6 8 10 12 14 16 18

Figure 16: Impact of recruitment and selection practices on employee’s performance

Out of twenty (20) respondents, sixteen (17) representing 85% answered that ‘yes’
the selection practices had affected their performance while three (3) representing
15% answered in the negative that it has not affected their performance.

4.10 Factors to help Improve recruitment and selection practices at PBL

The researcher wanted to find out from respondents how recruitment and selection
practices or processes could be improved at PBL, answers from respondents are as
follows;

Table 10: Improving recruitment and selection practices at PBL

Improving recruitment and selection practices Frequency

Equal opportunity for all 4

Procedure for selection 3

Qualification linked to job 5

Early Advertisement and detailed job description 6

Adequate background check 2

Total 20

Source: Primary data

46
Findings: Table 10 shows that, 6 respondents stated that early advertisement and
detailed job description, 2 answered that adequate background check, 4 explained
that equal opportunity for all, 5 stated that qualification linked to job and 4
respondents explained that procedure for selection are the factors for improving
recruitment and selection practices of PBL.

Improving recruitment and selection

10%
20% Equal opportunity for all

Procedure for selection

Qualification linked to job

30%
15%
Early Advertisement and detailed
job description
Adequate background check

25%

Figure 17: Improving recruitment and selection practices at PBL

Interpretations: The majority of 30% respondents were of the opinion that

vacancies should be advertised early and should be detailed enough for prospective
applicants to assess themselves whether they can do the job required of them. 25%
respondents stated that job orientation and applicants with the right qualifications
should be given the opportunity. Respondents explained that though job orientations
are often done for new recruits, qualification should be linked with the job. 20%
respondents were of the opinion that that all applicants should be given an equal
opportunity of being selected and treated fairly while all favoritism and biases are
eliminated to ensure that all get a fair chance of being selected and employed at the
bank.15% respondents stated that the procedure for selection of potential employees
should be strictly adhered to. 10% respondents stated that adequate background
check on all potential employees should be the order of the day. Respondents
explained that the division should not solely rely on the qualifications and experience
but lifestyles and background of all would be employees should be checked to make
sure the best is being recruited for the bank.

47
 CHAPTER FIVE RECOMMENDATIONS AND CONCLUSION

Every position vacancy will be filled based upon a thorough position analysis
regardless of the level of the position or the extent of the search. The diversity goals
of organization the unit will be addressed in all recruitment and selection processes.
Units may use different processes for recruitment depending upon the circumstances
surrounding the need to fulfill the position, but must take steps to ensure the values
of the profession are applied in all procedures that are used. Recruitment and
selection committee members should be properly trained to assume the important
responsibilities of recruitment and selection.

5.1 The strength of recruitment and selection process of PBL

ƒ The management of PBL cares for the quality of service as well as the quality
of its human resources.

ƒ The recruitment and selection is quite fair and square. Everyone at the HR
Division is honest and impartial which promotes the environment of
accountability.

ƒ Internal growth creates an attachment between the employees and the

organization. Moreover, internal growth has increased the recruitment and
selection efficiency of the HR Division, since it has better knowledge about the
applicants’ knowledge, skills, abilities and other qualifications.

ƒ The recruitment and selection process of PBL emphasizes more on who fits
the organization, rather than who fits the job. Thus, it has created a unique
organizational culture and the whole HR Division has ensures a friendly and
caring working environment.

5.2 The weakness of recruitment and selection process of PBL

ƒ HR planning of PBL can be made more effective if it is revised more often

according to the change in this fast moving industry.

48
 ƒ Statistical measures such as correlation analysis and regression analysis are
not applied to predict and analyze the recruitment and selection requirements
more precisely.

ƒ There is no feedback system established to find out the efficiency of the

system and correct its drawbacks.

ƒ Regret letters are not sent to the candidates who are not selected after joining
of the finally selected candidates.

ƒ PBL does not always check references properly, which may lead to a grave
problem for the organization.

5.3 Recommendations

From the study it is realized that recruitment and selection is of great importance to
every organization, though an integral part of human resource planning and
development, it application and operation and challenges makes its practice quite
difficult. These recommendations are therefore made to help make these practices
more effective. All applicants must be treated fairly; issues of favoritism should be
avoided while giving the chance to all. Employee referrals though a good idea should
be minimized to cater for a certain number of people rather than a whole scale
opportunity. That gives room to favoritism and at times employment of individuals
who might not contribute meaningfully to organizational output. The human resource
division should appraise employees to help them give off their best and help improve
performance of employees; this will always keep employees on their toes to give off
their best. Refresher courses must be organized for employees for them to be
abreast with trends in the ever growing market. It was revealed in the analysis that
key talents are difficult to come by, the bank can help upgrade the skills of some of
its staff in areas they find difficult to recruit in the market. This will also go a long way
to help staff contribute to the success of the bank. In the case of internet
advertisements, PBL does not use any job board, even though job boards are getting
popular increasingly among the employers.

49
5.4 Conclusion

The focus of recruitment and selection is to match the capabilities of prospective

candidates against the demands and rewards inherent in a given job. For this reason,
top performing companies devote considerable resources and energy to creating
high quality selection systems. Recruitment and selection process are important
practices for human resource management, and are crucial in affecting
organizational success. The quality of new recruits depends upon an organization's
recruitment practices, and that the relative effectiveness of the selection phase is
inherently dependent upon the caliber of candidates attracted. From the analysis,
recruitment and selection is apex importance to Prime Bank in order to get the best
employees, however, it faces lots of challenges in its quest to recruit its workforce.
The issue of employee referrals seems to place unfair advantage over others, as
more often than not; they are favored compared to those who use a different channel.
From the analysis it was realized that, more employee referrals are employed than
those who apply in directly or through the agencies.

Despite these challenges it was realized that these measures (recruitment and
selection practices) have been effective in the selection of employees for Prime Bank
even though much needs to be More so, it was realized that equal opportunities
should be given to all applicants who apply for jobs at PBL to help ensure fairness in
the selection procedure and not to hand others undue advantage over others. More
over it was realized that to make the selection and recruitment procedure complete
qualifications should be stressed and should also be linked with the job to be done
as most qualifications do not much the job to be done.

The success of a commercial bank largely depends on the quality of service

rendered to the clients. Quality of service depends on the competence and the
quality of the employees of the organization. Therefore, the authority of PBL has to
be careful in recruiting and selecting the right person for each job. As has been seen,
the recruitment and selection process of PBL has rooms for improvement. The policy
and process should be revised. So although the process they have been adopting so
far has been somewhat effective, to adapt to the changing times, the process should
be revised and streamlined.

50
 APPENDIX
QUESTIONNAIRE

This questionnaire is designed to gain understanding of recruitment and selection

practices at PBL. Kindly complete this questionnaire as objectively as possible. The
information given out is solely for academic purpose and would be treated as
confidential. Thank you. Write or tick [ ] the appropriate response to each of the
question.

Section A: Personal Data

1. Sex

Male [ ] Female [ ]

2. How long have you been working at PBL?

a. Less than 1 year [ ] b. 1 – 6 years [ ] c. 7 – 12 years [ ] d. 13 – 18 years [ ]

3. Which of the qualifications below do you possess?

a. Bachelor [ ] b. Master [ ] c. M.Phil / PhD [ ] d. Others

…………………………………..……………………………………………………………

Section B: Recruitment and Selection

4. Does the bank have any formal policy for the recruitment and selection of
employees?

Yes [ ] No [ ]

5. If yes to above, briefly state the policy

…………………………………………………….……………………………..……………

…………………………………………………………………………………………………

6. Does PBL outline job analysis (i.e. duties, responsibilities, skills, etc. required for a
particular job) before advertising vacancies for employment?

Yes [ ] No [ ]

7. Does PBL rely on any employment agencies for the recruitment and selection?

Yes [ ] No [ ]

51
8. When vacancies occur, are existing employees considered?

Yes [ ] No [ ]

9. Are job vacancies made open to the general public?

Yes [ ] No [ ]

10. Does the Bank have a policy regarding internal recruitment versus external
recruitment?

Yes [ ] No [ ]

11. Which of these methods of recruitment are applicable to the PBL? You may
select more than one.

a. Radio advertisement [ ] b. TV advertisement [ ] c. Newspaper advertisement [ ]

d. Professional association(s) [ ] e. Employment agencies [ ] f. Employee
referrals [ ] g. Other (s)

…………………………………………………………………….. …………………………..

12. Does the bank have structured recruitment and selection practices in place for
new employees?

Yes [ ] No [ ]

13. If yes to question 12, what are these recruitment and selection practices?

…………………………….……………………….……………………………………………
.……………………………………………….…………………………………………………

14. Which of these factor(s) are mostly considered for recruitment and selection of
employees? You may select more than one.

a. Academic qualifications [ ] b. Work experience [ ] c. Interview [ ] d. Test [ ]

e. Other (s)

………………………………………………………………………………………………….

………………………………………………………………………………………………….

15. Does the Bank use interviews as part of your recruitment process?

Yes [ ] No [ ]

52
16. How would you class your interview structure?

a. Formal & structured b. Semi-structured c. Unstructured

17. Are these recruitment and selection practices able to provide appropriate and
qualified candidates to fill the vacancies?

a. Yes [ ] b. No [ ]

18. If no to the above question, why?

.........................................................................................……………………………….
…………………………………………………………....……………………………………
…………………………………………………………………………………………………

19. Does the Bank take into account any legislative requirements when recruiting?

Yes [ ] No [ ]

20. Have these recruitment and selection practices led to the employment of
competent staff?

Yes [ ] No [ ]

21. If your answer is no, please mention the reasons

.......................................................................................................................................
.......................................................................................................................................

22. What are some of the challenges PBL associated with recruitment and selection
practices?

…………………………………………………………………………………………………
…………………………………………………………………………………………………

…………………………………………………………………………………………………

23. What factors will improve recruitment and selection practices at the PBL?

…………………………………………………………………………………………………
………………………………………………………………………………………………....

…………………………………………………………………………………………………

53
 LITERATURE CITED

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ƒ David A. DeCenzo & Stephen P. Robbins (2005), Human Resource Management,

Eight Edition, John Wiley & Sons, Inc., Singapore.

ƒ Dess, Gregory, G. and Jason, D. Shaw (2001), Voluntary turnover, social capital,
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ƒ Delery, J. E. and Doty. D. H. (1996), Modes of Theorizing in Strategic Human

Resource Management: Tests of Universalistic, Contingency and Configuration
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ƒ Drucker, P. (1999), Knowledge-Worker productivity: The Biggest challenge,

California Management Review 41(2): 79-94.

ƒ Flippo Edwin B. (1989), Personnel Management, Sixth Edition, McGraw Hill, New
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ƒ Griffin W. R (2006), Management, Eight Edition, Houghton Mifflin Company, New

York, USA.

ƒ George T. Milkovich & John W. Boudreau (2004), Personnel Human Resource

Management, Fifth Edition, Richard D. Irwin INC, USA.

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London

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ƒ Gupta C. (2006), Human Resource Management, Rev. Edition, Sultan Chand
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ƒ Weihrich H. & Koontz H. (2003), Management, Tenth Edition, McGraw-Hill, Inc,

Singapore.

ƒ Jovanovic, Boyan (2004), Selection and the Evolution of Industry. Econometrica,

50(3): 649-670.

ƒ Khan, A. A. (2008), Human Resource Management and Industrial Relations, 2nd

Edition, Dhaka: Abir Publications.

ƒ Kaplan, R. S. & Norton, David, P. (2004), Strategy Maps: Converting Intangible

Assets into Tangible Outcomes, Harvard Business School Press, Boston, USA.

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Tenth Edition, Thomson South Western, Thomson Asia Private Ltd, Singapore.

ƒ Shukla M.C. (1998), Business Organization and Management, First Edition, S.

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ƒ Website of Prime Bank Limited: www.primebank.com.bd

55
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