Human Resource Policy & practice of
IFIC Bank Limited
3.1 ACTIVITIES OF HRM:
HRM has a significant role in today IFIC Bank and must be forward thinking. They must take the lead in assisting good achievement with the "people" component of the organization: Under the guidance of HRM, employees of an organization can assist it in gaining and maintaining a competitive advantage. Attracting and maintaining such employees require: HRM of IFIC Bank to have policies and practices that such employees desire. HRM of IFIC Bank will also recommend and implement changes regarding where necessary.
Human resource management has its focus mainly on balancing the ...view middle of the document...
Rewarding star performers. Reward should be earned, not given.
3.2 MAIN OBJECTIVES OF HRM:
Establishment and maintenance of an adequate organization structure and promotion of harmonies working relation among the members of all levels on company's pay roll.
Integrating the employees and employee groups with company and there by obtaining their commitment, loyalty and involvement in company's work and high level of productivity.
Effective utilization of the organization's human resources for achieving goals of the organization.
Recognizing and satisfying employee goals and group goals for motivation.
Taking appropriate steps to maintain employee morale at high level and ensuring adequate work performance.
Providing opportunity for individual growth and development in the, firm tough job satisfaction.
3.3 HR POLICY:
Policy is guideline to action Human Resource policy is the most vital element of corporate policy since it guides recruitment, selection, orientation training and placement of personnel. Apparently human resource policy is concerned with proper use human required for undertaking activities in order to achieve corporate goals and objectives.
The same kind of human resource is not appropriate for all kinds of organizations. A particular organization has to assemble and develop manpower keeping in view with its planned and projected activities.
3.4 COMPONENTS OF HUMAN RESOURCE POLICY:
For achieving the objectives of human resource policy as aforesaid, the Bank has identified the following human resource policy areas. The human resource policy issues starting from recruitment to retirement consist of following:
Background Checking Policy D Promotion Policy
Increment Policy D Leave Policy
Transfer and Posting Policy
Reward and Recognition Policy
Termination and Retirement Policy
Succession Planning Policy
3.5 RESPONSIBILITIES OF HR MANAGEMENT:
Human Resources Division of IFIC Bank Limited will be responsible for management of human resources of the Bank. Human Resource Management comprises the following four (4) basic functions:
Training and Development
The following organ gram shows the place of Human Resources Division and its basic functions u n d e r MW Office Organ gram:
Head of HRD
Reaming Section Recruiting Basement Explainer action
Health and Safety
Development Orientation Employee training
Employee development Career development Performance appraisals
Motivation Job design Rewards and compensation Employee benefits
Human Resource Division of IFIC Bank
3.6 AIMS OF HRM POLICY:
Human resources policy generally aims at the...