Jamuna Bank Recruitment Process
142
A Survey Analysis of Recruitment Process A CASE STUDY ON YOUR PARTNER FOR GROWTH
Transcript of Jamuna Bank Recruitment Process
A Survey Analysis of Recruitment Process
A CASE STUDY
ON
YOUR PARTNER FOR GROWTH
A Survey Analysis of Recruitment Process:
A CASE STUDY
ON
JAMUNA BANK LIMITED
YOUR PARTNER FOR GROWTH
2
TABLE OF CONTENT
Serial No.
Particulars Page No
1 Acknowledgement 072 Executive Summary 083 Orientation of the Study 09-104 An over view of Jamuna Bank Ltd 11-175 Banking Scenario in Bangladesh 18-196 General Banking 20-247 Remittance 25-338 Cash receipt 33-389 Q- Cash 3910 Customer Survey Report 40-6611 Summary of Findings 6712 Recommendation 7013 Conclusion 7114 Bibliography 7215 Appendix 73
3
Acknowledgement
It gives me immense pleasure to thank a large number of individuals for
their cordial cooperation and encouragement who have contributed
directly or indirectly in preparing this paper. The Department of
Business Administration, East West University helps me to get the
opportunity to do the internship in Jamuna Bank Limited, Foreign
Exchange Branch. I convey sincere gratitude to my Supervisor Senior
Lecturer & Assistant Proctor Mr. Md. Arifur Rahman, Department of
Business Administration and North South University.
Particularly I would like to acknowledge gratefully to Mr. M A Salam,
Senior Executive Vice President (S.E.V.P & Branch In charge), Mr. Md.
Pervez Hossain A.V.P, Mr. Mohammad Faisal J.A.V.P, Mr. Muhammad
Shamsul Alam F.E.O. Mrs. Nasreen Ara J.A.V.P, Mrs. Sufia E.O, Mr. Md.
Jalal Uddin Haider F.E.O, Mr. Mohammad Mahmubub Paramanik F.E.O,
Mr. Mohammad Moyeez F.E.O, Mr. Mohammad Mashok F.E.O, Mr.
Mohammad Morshed F.E.O, Mrs. Nilufar Yesmin Officer, Mrs. Jesmin
Akhter Officer Cash, Mrs. Halima Khatun Officer Cash, Mr. Harun Or
Rashid Officer Cash who helped me very much to complete my work
smoothly in Jamuna Bank Limited, Foreign Exchange Branch.
4
Executive Summary
General Banking provides the foundation of banker- customer
relationship. This is an era of keen competition among Banks. It is the
most important and preliminary work of a bank. The regular service
given to customers such as depositing or drawing money, selling of
instruments to them for remittance purpose, collection of instruments,
providing other ancillary services to keep the customers satisfied.
"The Overall Banking Operation of the Jamuna Bank Limited” is my
assign project. So, I am working in the Different Divisions.
Lending is the core function of commercial bank. For a bank, good
loans or credits or advances are most profitable assets. The largest
portion of operating income is derived from lending. A commercial
bank usually wins over its competitors only on the quality and
quantity of lending. It is therefore, indispensable for a bank to have a
well thought policy for executing its lending its lending operation.
Foreign trades refer to the trade between the different sovereign
nations of countries. Foreign trade mainly categorizes into export
trade and import trade. For development of the economy in a country
foreign trade is important. Financial institution like bank can help the
foreign trade of a country through financial accommodation to the
foreign trade.
The performance of the Jamuna Bank Limited as a whole is said to be
quite standard.
6
Orientation of the Study
Origin of the Study:
This is the last part of BBA program. As a professional degree, it is
essential to fulfill all the requirements the program demanded. Only
after preparing & submitting the report this program becomes
completed. Ascertainment of the Dean, Department Of Business
Administration of East West University, I compare this report from my
practical experience I earned at the time of my internship (14 th
January 07 to 15th April 07) in JBL at Foreign Exchange Branch; which
should be submitted on 2007.
Back -ground of the Study:
After completion of 120 (One hundred twenty) hours BBA program
demands a report on practical experience. To fulfill this requirement
every school of business arrange a program of internship. Here we get
a chance to apply our theoretical knowledge that we acquired from
class lectures, books, journals, case studies, seminar, project,
workshop etc and compare them with practical settings.
Purpose of the Study:
This is the most essential part of BBA program. This report is
prepared as the final term paper of the degree.
Objective of the study:
7
The ultimate objective of the study is to gain real life exposure in the
banking sector get a clear idea about banking operations. i.e.
1) Building habit of work and learning responsibility on the
duration of internee.
2) Gaining knowledge about a banks source of fund. I.e. how a
bank collect money from different sources.
3) What the implication of that fund. i.e. in which sectors a bank
invest As funds and
4) Matching himself with new people & environment.
Scope of the Study:
Jamuna bank is a very new bank in the private sector. This report is a
model of the banking service provided by JBL.
Methodology of the Study:
I tried to use both primary and secondary data. That I have gathered
from different sources. Primarily I got some data from face-to-face
speech of different employees of JBL at Foreign Exchange Branch and
some from different reports and features of the bank. At the time of
my internship period I observed different parties and their
8
transactions from a very close eye. All of these observations and data
are included in this report.
Limitation of the Study:
I have faced a few limitations to prepare the report. These are:
# It is very difficult to provide any specific example from any file
about certain document, as the matter is very sensitive for the
client as well as for the bank.
# As a financial organization, a bank has some restriction to serve
all the real data of the bank to the general people.
# Insufficient time.
9
AN OVERVIEW OF JAMUNA BANK LIMITED
Jamuna Bank Limited (JBL) is Banking Bank registered under the
Companies Act, 1994 with its Head Office at Printers Building (2nd &
8th Floor), 5, Rajuk Avenue, Dhaka-1000. The Bank started its
operation from 3rd June 2001.
Jamuna Bank Limited is a highly capitalized new generation Bank with
an Authorized Capital and Paid-up Capital of Tk.1600.00 million and
Tk.429.00 million respectively. By June 2007 the paid up capital of the
Bank will be doubled. Currently the Bank has 23 (Twenty
Three branches: 09 in Dhaka, 04 in Chittagong, 03 in Sylhet and 02 in
Naogoan, 01 in Munshigonj, 01 in Narayangonj, 01 in Bogra, 01 in
Dinajpur, 01 in Gazipur (including three Rural Branches). More
branches will be opened soon.
The Bank undertakes all types of banking transactions to support the
development of trade and commerce of the country. JBL's services are
also available for the entrepreneurs to set up new ventures and BMRE
of industrial units.
Jamuna Bank Ltd., the only Bengali named new generation private
commercial was established by a group of winning local
entrepreneurs conceiving an idea of creating a model banking
institution with different outlook to offer the valued customers, a
10
comprehensive range of financial services and innovative products for
sustainable mutual growth and prosperity. The sponsors are reputed
personalities in the filed of trade, commerce and industries. The Bank
is being managed and operated by a group of highly educated and
professional team with diversified experience in finance and banking.
The Management team is headed and led by Mr. S.A. Chowdhury who
is the only person of the country having experience in working as
Managing Director/CEO of five different banks. The Management of
the bank constantly focuses on understanding and anticipating
customer’s needs. The scenario of banking business is changing day
by day, so the bank's responsibility is to device strategy and new
products to cope with the changing environment. Jamuna Bank Ltd.
has already achieved tremendous progress within only two years. The
bank has already ranked the top out as a quality service provider & is
known for its reputation.
Jamuna Bank Ltd. offers different types of Corporate and Personal
Banking Services involving all segments of the society within the
purview of rules and regulations laid down by the Central Bank and
other regulatory authorities.
THE MISSION STATEMENT:
To become a model banking institution in offering to valued
customers, both depositors and borrowers, a comprehensive range of
financial services and tailor-made products for sustainable mutual
growth and prosperity.
11
CAPITAL STRUCTURE AND CORPORATE PROFILE:
Jamuna Bank has a sound capital base. Its Authorized Capital is Tk.
1600 million. It started its journey with a paid Up Capital of Tk. 429
million. The Registered office of the Bank is in Dhaka, Bangladesh.
The sponsors of the Bank are leading business personalities and
reputed industrialists of the country. Engr. Md. Atiqur Rahman,
Chairman of the Bank, is one of the leading industrialists of the
country. He is a social worker and a philanthropist. The Directors of
the Bank are successful entrepreneurs and eminent business
personalities having stake# in various squints of the national
economy.
Mr. S.A. Chowdhury, the Managing Director of the Bank is a senior
banker of the country having decades of experience to his credit in
top and responsible positions. His leadership quality and innovative
ideas, knowledge and acumen, strategy and dynamism is helping the
Bank in the achievement of the corporate goals. Before joining
Jamuna Bank, he worked as Managing Director in Sonali Bank, Janata
Bank, Investment Corporation of Bangladesh, Bangladesh Krishi Bank
and Bangladesh Shilpa Rin Sangstha.
CORPORATE GOVERNANCE:
Organizations are open system that needs careful management.
Jamuna Bank discreetly pursues the principles of openness, disclosure
and compliance to regulatory authorities, transparency in
performance, integrity in dealings, ethics in banking and
12
accountability to the shareholders in corporate governance. Jamuna
Bank is pledge-bound to keep it free from the clutches of loan default
culture. All our units are the centers of excellence. Our underlying
commitment to professionalism and a single-minded devotion to
service to our customers characterizes our style in all operations. We
involve with the changing needs of our customers. And the process
goes on.
The Bank ensures orderly relations between clearly defined functions
of the Board of Directors and the management. Their role remains
sharply bifurcated. The Board formulates policies and frames
procedures. Be management implements them and acts within norms.
The management enjoys full independence in managing the banking
industry, especially its credit portfolio without any undue influence
from outside. It, however, functions in a reutilized, efficient, suitable
and dynamic way to foster progress, promote general welfare of the
society and infuse its people to serve the nation. In corporate
governance, we strictly comply with the requirement of companies
Act-1994, Bank Companies Act1991, rules and regulations of
Bangladesh Bank and other regulatory authorities.
SERVICES / PRODUCTS OFFERED:
Retail Banking
Deposit schemes
Remittance and collection
Import & Export handling and financing
13
Corporate Banking
Loan Syndication
Project Finance
Investment Banking
Consumer Credit
Tele Banking
SMS Banking
Internet Banking
Lease Finance
Hire Purchase
Personal Loan For Women
24 hours banking: Q-Cash ATM Facility
OBJECTIVES:
• To earn and maintain CAMEL Rating strong
• To establish relationship banking and improve service quality
through development of Strategic Marketing Plans
• To remain one of the best banks in Bangladesh in terms of
profitability and assets quality
• To introduce fully automated systems through integration of
Information Technology
• To ensure an adequate rate of return on investment
14
• To keep risk position at an acceptable range (including any off
balance sheet risks)
• To maintain adequate liquidity to meet maturing obligations
and commitments
• To maintain a healthy growth of business with desired image
• To maintain adequate control systems and transparency in
procedures
• To develop and retain a quality work force through an
effective Human Resources Management System.
• To ensure optimum utilization of all available resources.
• To pursue an effective system of management by ensuring
compliance to ethical norms, transparency and accountability at
all levels.
STRATEGIES
• To raise capital up to Tk. 1000.00 million by March 2008
• To manage and operate the Bank in the most efficient manner to
enhance financial performance and to control cost of fund
15
• To strive for customer satisfaction through quality control and
delivery of timely services
• To identify customers credit and other banking needs and monitor
their perception towards our performance in meeting those
requirements
• To review and update policies, procedures and practices to enhance
the ability to extend better services to customers
•To train and develop all employees and provide them adequate
resources so that customers' demand can be responsibly addressed.
•To promote organizational effectiveness by openly communicating
bank plans, policies, practices and procedures to all employees in a
timely fashion
•To cultivate a working environment that fosters positive motivation
for improved performance
•To diversify portfolio both in the retail and wholesale market
•To increase direct contact with customers in order to cultivate a
closer relationship between the Bank and its customers.
THE FUTURE TRUST
• Full on-line Banking
16
• Introducing more innovative products and services
• Opening new branches
• Expansion of business network at home and abroad
CORPORATE CULTURE
Employees of JBL share certain common values, which helps to create a JBL Culture.
The client comes first
Search for professional excellence
Openness to new ideas & new methods to encourage creativity
Quick decision-making
Flexibility and prompt response
A sense of professional ethics
TARGET MARKET FOR LOANS & ADVANCES
Agro processing industry
Textile spinning, Dyeing & Printing
Export Oriented garments, Sweater 0
Food & Allied 0 Paper & Paper Products N
Engineering, Steel Mills 0 Chemical, pharmaceutical products,
etc.
Telecommunications
Computer software and Information Technology
Manufacturing of artificial flowers
Electronics
17
Infrastructure
Oil & Gas
Jewellery and diamond cutting & polishing
Liquefied Petroleum Gas (LPG)
Compressed Natural Gas (CNG)
Tiles
Ceramics
Small &Medium Enterprises (SME)
Operational Areas:
Ours is a full- service Bank with a diverse array of comprehensive
range of carefully tailored financial services and customer-friendly
uncomplicated banking products geared 11or the needs of all
customer segments, Innovation and tradition will go hand in hand.
Our operations will encompass:
Export and Import handing and financing.
Commercial Banking.
Project Finance.
Syndicate Loan.
Investment Banking.
Hire Purchase Loan.
Mortgage loan.
Retail Banking.
Internet and Telephone Banking.
Inland and foreign remittance handling.
18
Client Commitments:
Ours is a customer driven modern banking institution. It's competence
center where quality customer services is both a source of
professional pride and a recipe for success. Our defined client
commitments are:
Belief in professionalism.
Personalized banking service basing on mutual trust.
Continuity of facilities.
Use of new and latest banking technology in service.
Building life-long customer banker needs
Sharing value and belief.
Distinctive competence.
Tie with customer's thinking.
Highest safety.
Time saving one point service.
Mutual growth.
Financial advice.
Solving customer's problems.
Innovative products and services.
We shall make our Bank into a diversified financial institution that
clients will trust above all others.
Customer Service & Automation:
19
Out- bank will extend fully automated set-vices with quickness and
accuracy. We shall use latest banking technology to reinforce internal
control, improve the accuracy of records maintained, to facilitate
introduction of new products and services, to reduce cost and
increase productivity. Bank starts Computerized banking operations
from day one. There is plan for on-line banking set-vice.
Creed of our People, Our Corporate Goals, Strong
Capitalization:
Creed of People:
Service to the nation with hard work.
Flexibility.
Discipline and obedience.
Constructive thought.
Honest and fairness.
Quest for professional excellence.
Goal orientation.
Adjustment and assimilation.
Corporate Goals:
Steady return on shareholders equity.
Deep commitment to the society.
Well being of employees.
Balanced and disciplined growth strategy.
Personalized customer service in good days and in adversity.
Strong Capitalization:
20
Competitive pricing of products and services.
High standard business ethics.
Fully automated banking service.
Making our lending rewarding to the borrowers.
We shall allocate corporate resources to areas having the greatest growth opportunities
and national interest.
Social Commitment:
As a commercial bank, we long for earning profit. But we shall never be oblivious of our
commitment to the society where we operate. Apart from contributing to the national
exchequer, Jamuna Bank will keep aside a chunk of its profit for social
work, relief to distressed humanity and sponsoring cultural and
sporting events. Our commitment today will ensure a brighter
tomorrow.
Banking Scenario in Bangladesh
At middle of 2001 there were 52 scheduled Banks. But during 2000,
two foreign banks. "Standard Chartered Bank" and ANZ Grind lays
Bank PLC" have been Marge as standard chartered Grindlays"
reducing the total number of scheduled Bank in Bangladesh to
51.Thus there are 51 scheduled Banks in Bangladesh of which 4 are
nationalized, 29 are private Banks of which 5 are Islamic Banks,
12'are foreign Banks including on Islamic Bank and 5 are specialized
Banks.
What is Bank?
21
The functional definition of bank is that "it is a financial institution,
which accepts money from its customers as deposit and gives money
as loan to the borrowers"
According to a prominent economist R.S. Sayers, " A Bank is an
institution whose debts are widely accepted in settlement of other
peoples' debts to each other.
Another economist C. Cross defined, "A Bank is financial
intermediary-a dealer in loans and debts."
Development of Modern Banking - Institutions
Year of Name of Bank Special Feature
Establishm
ent
1171 The Bank of Venice First organized bank of the
world
1178 The Bank of Son
Georgio
The discoverer of America Mr.
Columbus was the first
customer of
this bank.
1584 The Banco di Rialto First public bank started in
Venice,
which did business both in the
deposit and exchange
branches.
1556 The Bank of Sweden It is the state bank of Sweden.
22
This
bank has the credit of having
invented Bank Notes.
1656 The Risk Bank of
Sweden
1694 The Bank of England
1800 The Bank of France This is the central bank of
France
and Napoleon established it.
1834 London Joint Stock
Bank Union
Bank of England
London Country Bank
In India the first bank, The Bank of Hindustan was established in
1700. During the 18" and 19" century there were several banks like
The Bank of Calcutta, Central Bank of India, The Bank of Madras, and
The Bank of Bombay established.
Banking companies Ordinance
The Banking Companies Ordinance was promulgated on the 7th June
1962. This has been adopted in Bangladesh and is applicable to the
banking companies only.
Nothing of this ordinance shall apply to a co-operative bank
registered under the cooperative Securities Act. (1912).
Main Forms Of Business Of Banking Companies
Borrowing, raising or taking up money
23
The lending or advancing of money either upon or without security
Dealing in securities and investments
Other business is detailed in section 7.
Negotiable Instrument Act
The Negotiable Instrument Act, 1881 is the legislative enactment of
the Law relating to three classes of Negotiable Instruments namely:
Promissory Notes, Bills of Exchange and Cheques, which are in
common mercantile use in the monetary instructions. It came into
force on 1st March 1882.
The law relating to negotiable instruments is not the ' law of our
country or of one nation. It is the law of the mercantile world in
general. It consists of "Certain principles of equity usage's of trade,
which general convenience and commonness of justice had
established to regulate the dealings in merchants and mariners in the
commercial countries of the civilized world. "
ROLE OF PRIVATE COMMERICAL BANKS IN ECONOMIC DEVELOPEMNT
IN BANGLADESH:
A bank is usually defined as a financial institution, which in money.
Today, however, the functions of a bank have increased so much that
it is consider a very vital agent of development in a country like ours.
Because of their positive involvement in trade, industry, business
finance and a host of other allied services, bank today form a very
important part of an economy.
24
GENERAL BANKING
Account Opening:
Opening of an account binds the Banker and Customer and into a
contractual relationship. Banker-Customer relationship establish
through opening, an account. Generally who are receiving bank's
service we may call them as a customer. But bank consider them as a
customer who have an account with them. Banker's his to maintain
some common principles and procedures for open almost all deposit
accounts. There are different types of accounts. We may classify, the
deposit accounts based on their operation and nature of account
holder. A brief discussion regarding the procedure of opening
different types of account in local currency (based on nature of
organization) is described as under.
PROCEDURE FOR OPENING AN ACCOUNT:
Major information's are essential for identification of the account
holders individually so that banker can discharge his obligations to
every one correctly and to the extent due. Following are the customer
must complete the formalities:
Application on the prescribed form
Furnishing photographs (2 copies)
Introduction by an account holder
25
Recording of specimen signature in the specimen card.
Mention nominee on the prescribed form.
Furnishing nominee's photograph (one copy)
CLASSIFICATION OF ACCOUNT:
Saving Account (SB).
Current Account (CD).
Short Term Deposit (STD).
Fixed Deposit Receipt (FDR).
Millionaire Deposit Scheme (MDS).
Marriage Deposit Scheme (MDS).
Kotipati Deposit Scheme (KDS).
Double Growth Deposit Scheme (DGDS).
Monthly Benefit Scheme (MBS).
Lakhpati Deposit Scheme (LDS).
Education Savings Scheme (ESS).
Triple Growth Deposit Scheme (TGDS).
Monthly Savings Scheme (MSS).
OPENING VARIOUS TYPE OFACCOUNT:
A. Individual/Joint
Two copies of photograph of the Account holder(s) person(s)
who will operate the account.
26
B. Proprietorship Firm
Two copies of photograph of the Account holder (s) person(s)
who will operate the account.
Certified copy of Valid Trade License.
Seal must be used.
C. Partnership Firm
Two copies of photograph of the Account holder(s) person(s)
who will operate the account
Certified copy of Valid Trade License.
Certified copy of Partnership Deed duly signed by all the
Partners.
Partnership Account Agreement (Draft enclosed)
D. Limited Bank:
Two copies photograph of the Account holder(s) / person(s) who
will operate the account.
Certified copy of the Memorandum & Articles of Association.
Certified copy of certified or incorporation.
Certified copy of Certified of Commencement of Business (in case
of operation of the Accounts (Draft enclosed)
E. CLUB/SOCIETY/ SCHOOL/COLLEGE ETC:
Two copies of photograph of the Account holder(s)/
person(s)who will operate tile account
Certified copy of the Memorandum & Articles of Association.
27
Certified copy of byelaws & Regulations/ Constitution.
Certified copy of Resolution for operation & operation of the
Account.
Up-to date List of office Bearers / Governing Body/Managing
Committee.
F. Trust
•Two copies of photograph of the Account holder (s) person (s) who
will, operation the account.
•Up-to date List of Members of the Trustee Board.
•Certified copy of Deed of Trust.
•Certified copy of Resolution of the Trustee Board for opening &
operation of the Account.
G. Foreign Currency Account (For Bangladeshi Wage Earners):
Photocopy of tile first 07 (seven) papers of valid passport.
Photocopy of Employment contract/ Appointment Letter/ Work
Permit.
Two copies of passport size photograph of each Account holder
and nominee attested.
Note. Account Holder's Photograph shall be attested by introducer if
any or by dealing officer; Account holder shall attested photograph of
Nominee. If Account intended to be opened from abroad all original
papers/ document shall be attested by Bangladesh embassy except the
28
photograph of Nominee which to the attested by the account Holder
himself.
H. Foreign Currency A/C (For Foreign National/ Bank / Firm):
Two copies of photograph of the Account holder for individual
and operation of account holder.
Copies of relevant pages of the passport duly attested by Dealing
officer for individual and operators of the Account Holder.
Copy of set-vice contract/ appointment letter/work permit, if any
for individual.
Copies of the Registration in Bangladesh with Board of
investment /Bangladesh bank Foreign Joint Venture Firm.
Copies of the Memorandum of association. Articles of
association, laws, Byelaws, etc. Or Joint Venture Agreement for
Joint Venture Bank/Foreign Bank.
In case of partnership copy of the Partnership Deed duly
attested.
Note:
1. Introducer must.
2. All Original Documents shall be verified by Dealing Officer.
29
SCHEME
Monthly Saving Scheme (MSS):
MONTHLY SAVINGS SCHEME INTEREST CHART:
Period Tk.500.00 Tk.1000.00 Tk.5000.00 Tk.10,
000.00
5 years 36,738.00 73,477.00 3,67,384.00 7,34,769.00
No introduction is required
Installment chosen at the time of opening of account is not
changeable
A depositor may open more than one account of different size of
installment in different name of his family members.
Account in the name of minors can be opened which a guardian
shall operate.
The specified amount on maturity shall be paid after one month
from the date of deposit of the final installment.
If any depositor desires to discontinue the scheme before
maturity, interest shall be allowed as per following rate.
Period Rate of Interest
Within 6 (six) months No Interest
After Completion of 6 (six) months and before
end of 1(one) year
7.00%
After Completion of 1(one) year and before end
of 2(two) years
7.25%
30
After Completion of 2(two) years and before end
of 3(three) year
7.50%
After Completion of 3(three) year 6 (six) months
and before end of 4(four) years
7.75%
After Completion of 4(four) years and before end
of 5(five) years
7.85%
After Completion of 5(five) years 8.00%
* Installment shall be payable by the 10th day (incase of holiday
the next working day) of every month.
* Advance payment of any number of installments is always
acceptable.
* Incase of failure to deposit any installment timely penalty shall
be charged @5% on the overdue installment with minimum of
Tk. 25.00 payable with the installment of subsequent month.
RATES OF INTEREST ON DEPOSIT:
S/
N
Particulars Existing Rates
1. STD 6.50%
2. Saving Deposit:
Rural/Urban
7.00%
3. FDR For 1 month 8.00%
4 FDR For 3 months 11.50%
5 FDR For 6 months 11.75%
6 FDR For 1 year 12.00%
31
REMITTANCE
ISSUANCE & PAYMENT OF DD, TT, PO, SDR, STOP PAYMENT
& ISSUANCE OF DUPLICATES INSTEAD OF LOST ONES
INTRODUCTION:
Commercial bank in Bangladesh offers the facility of transferring
funds, from one place to another, to their customers as well as to the
general public. Such transfer of funds can be affected either through
Demand Draft or Telegraphic Transfer or Mail Transfer. The aforesaid
methods of remitting money from one place to another within the
country are known as Remittance. While, it is for outside Bangladesh
the same is called foreign remittance. The advantage of this facility is
the quick transfer of money with minimum cost and also the risk of
physical transportation of cost is eliminated.
A demand Draft is a written order of one branch upon another branch
of the same bank, to pay a certain some of money to or to the order of
a specified person. Drafts are not issued payable to bearer. In practice
drafts are not to be drawn between branches within the same city.
Drafts drawn by one branch of bank on another payable to order
where any draft that is an order to pay money drawn by one on a bank
upon another office of the same bank for a sum of money payable to
order on demand, purports to be endorsed by or on behalf of the
payee, the bank is discharged by payment in due course.
From the above provisions as to Crossing, Endorsement, Collection
and Payment in due courses are the same as for cheques.
32
ISSUE OF DEMAND DRAFTS:
The customer is asked to complete filling in a form, which is
treated as an application as well as voucher. The application
form should be checked carefully.
Commission charge are calculated and inserted in the case
provided in the form.
The voucher given to the customer to deposit the cash with the
cashier
The cashier receives the cash and delivers the voucher to
remittance, department against initial in his books.
Draft is prepared and entered in drafts issued register.
Branch wise serial number is given on the draft besides the
oriented number putting on oblique between. The amount of the
draft protect graphed.
The draft number is written on the voucher.
Draft block and the voucher along with the register are sent to
officer in charge for checking and signatures. He signs the draft
and voucher and initials the counterfoil of the draft and the
register.
Then the draft and the voucher are sent to the Manager /
second officer for second signature.
The draft is crossed if customers desires and delivered to him
against his acknowledgement on the voucher.
If a cheque tenders the amount, the drawer to the cheque and
the purchaser of the draft should be the same person, i.e. the
signature on the cheque and on the application form must tally.
A memorandum is issued to the stoner if the desires.
The cheque is sent for passing and cancellation.
33
After the cheque is passed similar, procedure as explained
above is adopted for issuing draft.
Telegraphic intimation under test is sent to the drawee much for
drafts of Tk. 50,000/- and over in or as per the existing of the
bank.
ISSUE OF DUPLICATE DEMAND DRAFT:
On receipt an application form the purchaser of the draft its loss
and issue of duplicate one, the signature of the applicant is
verified from the original application.
The drawee branch is informed of the loss of draft and
requested to exercise caution by letter or telegram as desired by
applicant. The telegram charges if incurred are recovered form
him.
On receipt of confirmation from the drawee branch that the
draft is still outstanding in their books and that caution being
exercised by them, a duplicate draft is issued to the purchaser
after obtaining an indemnity Bond.
The draft is issued marked duplicate in red ink, without altering
the printed number and repeating the original number.
A note to this effect is made on the original form and the draft
issues register.
Drawee branch is advised of issue of the duplicate draft.
CANCELIATION OF DEMAND DRAFT:
34
The purchase may request to cancel the draft purchased by him and
ask for refund of money. For cancellation is draft the following points
should be kept in mind.
One receipt of application along with the demand draft for its
cancellation the signature of the applicant is verified from the
original application form and the geniuses of the demand draft
are examined.
Before the draft is cancelled it is ascertained that no duplicate
draft has been issued.
If the date of issue of the draft is much earlier, consent of the
payee in writing should be obtained.
If the draft is in favor of a bank, semi-government official,
consent of the payee in writing is essential.
The signatures of officers on the draft should be crossed but in
no case torn, and the draft be marked "cancelled". The note in
respect of cancellation should be made in the draft issued
register and on the application.
The cancelled draft should be attached to debit voucher along
the request letter of the purchaser.
The drawee branch may be advised an\bout the cancellation of
the draft.
If the draft is in favor of a bank, semi-government official,
consent of the payee in writing is essential.
35
The signatures of officers on the draft should be crossed but in
no case torn, and the draft be marked "cancelled". The note in
respect of cancellation should be made in the draft issued
register and on the application.
The cancelled draft should be attached to debit voucher along
the request letter of the purchaser.
The drawee branch may be advised about the cancellation of the
draft.
REVALIDATION OF DRAFT:
A draft like cheque becomes stale after lapse of six months from
the date of issue. The purchaser of the draft may approach the
issuing branch to revalidate the draft to make it payable again.
The draft should be ermined and there must be no alteration in
the draft.
The purchaser must give a letter in writing requesting for the
revalidation of the draft. An officer should duly verify his
signature on the letter.
All particulars of the draft should be compared from the draft
issued register. Before the draft is revalidated it is ascertained
that no duplicate draft has been issued, a note about
36
revalidation of the letter particular draft be made in the
register.
A Rubber stamp being "Revalidated on -------------- should be
affixed on the draft Linder the signatures if two authorized
official.
The drawee branch should be intimated about the revalidated of
the draft. A note to this effect in the remarks column against the
relative entry in the draft payable register should be made at
the drawee branch.
PAYMENT OF DEMAND DRAFT:
Record of information
a) Record of loss: On receipt of information from the drawee branch
about the loss of any draft, caution is noted in red in the remarks
column of the register if the draft is not yet paid. The drawee branch
is informed accordingly.
b) Record of Duplicate Draft: On receipt of information from the
issuing branch in respect of cancellation of draft, note to this effect is
made in the register
c). Record of cancellation: On receipt of information from the issuing
branch in respect of cancellation of draft, note to this effect is made in
the register.
d) Record of Revalidation: On receipt of information from the issuing
branch in respect of cancellation of draft, note to this effect is made in
the register.
PAYMENT OF OPEN DRAFT:
1. When a demand draft is presented for cash payment it should be
examined that the draft is not crossed and it is drawn on your
37
branch and the same was not issued more than six months
curlier. It also examined that intimation is received about the
DD. Lost, cancelled or duplicate issued.
2. Proper identification of the payee is required. If the payee is the
customer of the branch his signature can be verified from the
S.S card. In other cases, a person acceptable asks identification
from a customer of our bank or to the draft and the signature is
verified by an offer.
3. The date, amount in words and figures and signatures on the
draft is checked.
4. If the draft is tested, test should be verified.
5. Payment date is noted in the register.
6. Draft together with the register is sent to the officer in charge
for cancellation and after
7. Cancellation the draft sent to cash department for payment.
PAYMENT OF CROSSED DRAFT:
Under N.I. Act crossed draft cannot be paid in cash, except to a
banker, who collects the same for credit to his customer's account.
Such DD s should be credited to payee's account in the drawee branch
or should presented either in clearing/ transfer delivery by a bank or
cash payment with a name of request where there is no clearing
House. The paying banker in such cash should examine the discharge
of the collecting banker and payment be made on being fully satisfied.
In case of any irregularity in the draft an advice letter is sent obtain
the confirmation of the issuing branch.
Recruitment & Selection Procedure
An Analysis of Survey
Chapter-1 Introduction
38
Today's job market is very complicated, due to diversified business
world. Also importance of total quality management put emphasis on
job market. As a result the essence of HRM is introduced in today's
organization and we know that. HRM sets up the job by virtue of job
evaluation; job analysis & job design and also ensures the HR laws
and keeps in organization's mind about government rules and
regulations.
The HR department of today's organizations deals with recruitment
process. HR officer's job is to make the recruitment and selection
process pretty much accurate, in order to ensure that, all other
factors related to organization are handled quite effectively.
Therefore, HR officer has to concern about dealing with recruitment
process as well as selection process due to the importance of
recruiting cost. Further more, he has to make the image of the bank
more attractive, nice working condition, good benefit &
compensation. Because, these are the part of HR recruitment process.
Some of the constraints have to be follow in the real world while
setting up recruitment process. We are trying to mention this in the
following way:
If the organization needs very less employee, than the salary
should be high to attract the candidate.
If the organization has a better working condition, good applicant
will be attracted.
Compensation and benefit should be standardized.
Technically sound people.
Government rules and regulations should be in consideration.
Economic condition of the overall economy should be in mind of
HR officer.
These are the prime constraint or consideration be kept in mind or HR
officer while dealing with recruiting.
39
Chapter: 2 Survey Methodology
"Recruitment Process" is indeed a tough job to find out. Because
several people are involved with recruitment process and they
differ from each other by their perception, experience, interest
etc. With this process, there is another part; the part is known as
"Candidate", who wants to build a "Dream Career" by
forwarding different steps.
By preparing this paper we have to find out:
The steps involved with recruitment
Biasness towards the recruiters
Types of question asked
Priority in male and female
Preference in groups minor or only major?
All types of related questions would be revived and answered in
this term paper to visualize the current phenomenon.
Research Objective
Broad Objective:
To analyze the present "Human Recruitment Processes" of
JAMUNA BANK LIMITED.
2. 1.2 Specific objective:
To determine the steps involved with recruitment
processes.
To determine the roles of recruiters in recruitment.
To identify the type of questions is asked in recruitment.
To forecast the effectiveness of recruitment process.
40
2.2 Theoretical/ Conceptual Model of the Study:
Information needed to find out the facts required for this
paper
Theoretical Framework
2.3 Hypothesis & Assumptions:
Political situation is more or less stable.
Almost all staffs are anyhow involved with recruitment
process.
There are certain rules and regulations for recruitment
process.
There is a great demand for JAMUNA BANK LIMITED.
2.4 Scope of the Research:
Since it is related with JAMUNA BANK LIMITED the scope of
the "Term Paper" will be limited within this organization.
2.5 Benefits of the Study:
It will help to find out the "Hypothetical Recruitment Process"
of JAMUNA BANK LIMITED ,
The study will help to develop models & apply them
effectively in
The study will help us to identify the type of problems that the
companies usually face & it will overcome the problems.
41
2.6 Sources of Data:
The sources of data or information are divided into two parts
that are; primary and secondary sources.
2.6.1 Primary Data:
In the primary source, data are collected directly from
interviewing their Managers, Directors, Managing Directors and
other related personnel. According to the questionnaire, staffs
were also interviewed to determine the responding factors that
are extremely related with "Recruitment Process".
2. 6.2 Secondary Data:
In the secondary source, different textbooks and journals
relating to the theoretical frame work of the project was
accessed to define and to determine "Recruitment Process".
Moreover, annual reports, bank projects profile, related
preserved data, financial statements and brochure had been
collected from the JAMUNA BANK LIMITED.
2.7 Research Design:
Data Instruments:Raw data were collected by closed-minded questionnaire (enclosed
with the research). Data were analyzed by the spreadsheet
program of the MS EXCEL. The excel program was also used for
the table & graphical presentation.
42
Beside these, the universal report writing software MICROSOFT
WORD '2000 was used to process all necessary research writing,
charts, graphs & tables.
Sampling
The staffs who are involved with the recruitment process
and the candidates, who face the interviews, are
considered the specific population of this "Term Paper".
2.8 Study Period:
February-April 2008
2.9 Limitations & Constraints:The present study suffered from certain limitations noted below:
In case of interview, the answer varied depending on the
background of person to person and amount of interest he/she
took in it.
Lack of website information to reach on any nice ending.
Within this limited period it is a bit tough to track all the facts
accurately.
43
Chapter: 3 Literature Review
The Role of Human Resource Recruitment
HRP helps determine the number and type of people an
organization needs. Job analysis and job design specify the task
and duties of jobs and the qualifications expected from
prospective job holders.
Human
Resource
Planning
Job AnalysisDetermine Recruitment
and Selection Needs
44
Human resource recruitment refers to any organizational activity that
is designed to affect
(1)The number of people who apply for vacancies.
(2) The type of people who apply for then and or
(3) The likelihood that those applying for vacancies will
accept positions if offered.
4.1 What Recruitment all about:
In simple terms, recruitment is understood as the process of
searching for and obtaining applicants for jobs, from among
whom the right people can be selected. A formal definition of
recruitment is:
It is the process of finding and attracting capable applicants for
employment. The process begins when new recruits are sought and
ends when their applications are submitted. The result is a pool of
applicants from which new employees are selected.
According to Datles Beach "Recruitment is the development and
maintenance of adequate HR resources, It involves the certain of
available labor union whom the organization can depend upon
when it needs additional employees,”
So the function of recruitment is two
(A) To discover sources of HR
(B) To attract an adequate number of prospective employees.
Though, theoretically, recruitment process is said to end with
the receipt of applications, in practice the activity extends to the
screening of applications so as to eliminate those who are not
qualified for the job.
45
4.2 Purpose and Importance Recruitment
The general purpose of recruitment is to provide a pool of
potentially qualified job candidates. Specially, the purposes are
to:
1. Determine the present and future recruitments of the
organization in conjunction with its personnel planning and
job -analysis activities.
2. Increase the pool of job candidates at minimum cost.
3. Help increase the success rate of the selection process by
reducing the number of visibly under qualified or
overqualified job applicants.
4. Help reduce the probability that job applicants, once
recruited and selected, will leave the organization only after a
short period of time.
5. Meet the organization's legal and social obligations regarding
the composition of its workforce.
6. Begin identifying and preparing potential job applicants who
will be appropriate candidates.
7. Increase organizational and individual effectiveness in the
short-term and long term.
8. Evaluate the effectiveness of several of recruiting techniques
and sources for all long term.
46
4.3 Factors Influencing Recruitment Efforts:
The factors that influence the recruiting efforts are as follows:
Image of the organization
Working condition of the organization
Environment of the organizations
Colleagues whom he have to work with
Economic condition of the country
Technological condition of the country
Recruitment cost
Government influence
4.4 Factors Governing RecruitmentRecruitment is the process of finding and attracting capable
applicants for employment. Given its key role and external
visibility, recruitment is naturally subject to influence of several
factors, these include external as well as internal forces:
Fig 2: Factors influencing Recruitment
External
Forces• Supply and Demand
• Unemployment rate
• Labor market
Recruit
ment Internal Forces Recruitment policy
Recruitment
47
4.4.1 External Factors:
External factors of recruitment refer to prospective candidates
outside the enterprise. Following are the most common external
factors.
Supply and Demand:
Supply and Demand is a specific skill in the labor market. If the
demand for a particular skill is high relative to the supply, an
extraordinary recruiting effort may be needed. For instance, the
demand for programmers and financial analysts is likely to be
higher than their supply, as opposed to the demand-supply
relationship for non-technical employees.
Unemployment Rate:
When the Unemployment rate in a given area is high, the bank's
recruitment process may be simpler. The number of unsolicited
applicants is usually greater, and the increased size of the labor
pool provides better opportunities for attracting qualified
applicants. On the other hand, as the unemployment rate drops,
recruiting efforts must be increased and new sources explored.
Labor-market:
Labor-market conditions in a local area are primary importance in
recruiting for most non-managerial, supervisory and
middle- management positions, however, so far as recruitment for
executive and professional positions is concerned, conditions of all
market are important.
48
Political-Social:
Political-Legal is another external factor in recruitment. There is
a strong case for giving preference to people hailing from less-
advantage sections of the society. Reservation has been
accepted as inevitable by all sections of the society. The
Supreme Court also has agreed upon 50 percent reservation of
seats and jobs.
Sons of soil:
It is another political factor in recruitment. Political leaders’
clamor that preference must be given to the people of their
respective states in matters of employment.
Image:
The bank's image also matters in attracting large number of job
seekers. Blue cheap companies attract large number of
applications. Often, it is not the money that is important. It is the
perception of the job-seekers about the bank that matters in
attracting qualified prospective employees.
There are some other external factors which influencing the
recruitment.
Advertising Employment agencies Employment exchange
Educational institutions Recommendations
4.5.2 Internal Factors:
49
Internal factors include the HR already on the pay-roll of the
organization whenever any vacancy arise somebody from within
the organization may be looked in to.
Recruiting Policy:
Most organization have a policy on recruiting internally (from
own employees) or externally (from outside organization).
Generally, the policy is to prefer internal sourcing, as own
employees know the bank well and can recommend candidates
who fit the organization culture. Another related policy is to
have temporary and part-time employees. An organization hiring
temporary and part-time employees is in a less advantage
position in attracting sufficient applications.
HRP:
A major internal factor that can determine the success of the
recruiting program is whether or not the Bank engages in HRP.
In most cases, a bank can not attract prospective employees in
sufficient numbers and with required skills overnight. It takes
time to examine the alternatives regarding the appropriate
sources of recruits and the most productive methods for
obtaining them. Once the best alternatives have been identified,
recruiting plans may make. Effective HRP greatly facilitates the
recruiting efforts.
Size of the firm:
Size is another internal factor having its influence on the
recruitment process. An organization with one hundred
50
thousand employees will find recruiting less problematic than an
organization with just one hundred employees.
Cost:
Cost of recruiting is yet another internal factor that has to be
considered. Recruiting costs are calculated per new hire and the
figure is considered now a days. Recruiters must, therefore,
operate within budgets. Careful HRP and forethought by
recruiters can minimize recruitment costs. One cost-saving
measure, for instance, is recruiting for multiple jobs operating
simultaneously. The best solution is to use proactive personal
practices to reduce turnover, thus, minimizing the need for
recruiting. Evaluating the quality, quantity and costs of
recruitment helps ensure that it is efficient and cost effective.
Growth and Expansion:
An organization registering growth and expansion will have
more recruiting on hand than the one which finds its fortunes
declining.
There are some other internal factors which influencing the
recruitment:
Promotion-' Promotion means shifting of an employee to a
higher position carrying higher responsibilities, facilities,
status and salary. Various positions in an organization are
usually filled up by promotion of existing employees on the
basis of merit or seniority.
Transfer: Transfer refers to a change in job assignment. It
may involve a promotion or demotion. A transfer may be
51
either temporary or permanent depending on the necessity of
filling jobs.
4.5 External versus Internal Recruitment:
Advantages of external sources of recruitment:
1. Wide options External sources bring in a large number of
applicants. This will permit the enterprise to have a free hand
in making the selection.
2. Infusion of new blood: The enterprise can expect to set fresh,
talented candidates from outside. This means infusion of new
blood and new ideas into the enterprise.
3. Elements of competition: Internal candidates have to
complete with outside candidates for the vacancies. This is a
healthy feature from the point of view of the enterprise.
4. Benefits of new skills, new talents and new experiences to
organizations
5. Compliance with reservation policy becomes easy.
6. Scope for resentment, jealousies and heartburn are avoided.
Disadvantages of external sources of recruitment:
(1) Frustration among existing employees: Recruitment from
outside may cause dissatisfaction and frustration among the
existing employees who aspire for the jobs by promotion or
transfer.
(2) High expense: The process of recruitment of candidates from
outside involves considerable expense in the form of
advertising for vacancies.
(3) Time consuming: External recruitment takes more time than
the internal recruitment since the enterprise has to publicize
about vacancies and wait for their response.
(4) Better morale and motivation: Better morale and motivation
52
are associates with internal recruiting are denied to the
organization.
(5) Negative and positive errors: Chances of creeping in false
positive and negative errors.
(6) Adjustment: adjustment of new employees to the
organizational culture takes longer time.
Advantages of internal sources of recruitment:
(1) Familiarity: The organization and its employees are familiar
to each other. The organization knows the ability and skills
of the candidates since they are insiders - similarly
employees also know about the working conditions job
requirements of the vacancies.
(2) Economy: the cost of recruitment internal employees is
minimal. The enterprise does not need any expenditure on
informing and inducing its employees to apply.
(3) Motivational value'- Internal recruitment is a source of
encouragement and motivation for employees. The
employees can look for promotion and transfer with hope
and thereby do their jobs well.
(4) Less costly: it is less costly.
(5) Better knowledge: organizations have better knowledge
about the internal candidates.
(6) Good performance is rewarded.
53
Disadvantages of internal sources of recruitment:
(a) Restricted Choice: Internal recruitment restricted the options
and freedom for the enterprise in choosing the most suitable
candidates for the vacancies. The enterprise may have to
compromise on quality of its choice of candidates.
(b) Absence of completion: In absence of completion from
qualified candidates from outside employees are likely to
expect automatic promotion by seniority.
(c) Conflict: these may be chance of conflict among those
workers who aspire for promotion to the vacancies. Those
who are not promoted are unhappy and their efficiency may
decline.
(d) It perpetuates the old concept of doing things.
(e) It abets raiding.
(f) Candidates' current work may be affected.
(g) Politics play greater role.
(h) Morale problem for those not promoted.
4.6 Steps in Recruitment Policy:
The recruitment process consists of the following steps:
(1) The first step in the recruitment process is the requisition
from the department.
The requisition consists of the following information-'
The positions to be filled
Number of persons to be recruited
Qualifications required from the prospective candidates.
Duties to be performed
Terms and conditions of employees
The time by which the person should be available
54
(2) The next step is locating and developing the source from
where the persons are made available
(3) Identifying the prospective employees with required features.
(4) The HR Department is then to communicate the information
about the organization the job and the terms and conditions
of the service.
(5) Encouraging the identified prospective candidates to apply
for the job in the organization.
(6) The last step in the process is to asses the effectiveness of
the recruitment.
I 4.7 Recruitment Process:
Fig 3: Recruitment ProcessRecruitment refers to the process of identifying and attracting
job seekers so as to build a pool of qualified job applicants. The
process comprises five interrelated stages. These are:
(1) Planning
(2) Strategy development
(3) Searching
(4) Screening
(5) Evaluation and Control
55
Recruitment Planning:
The first stage in the recruitment process is planning. Planning
involves the translation of likely job vacancies and information
about the nature of these jobs into a set objectives or targets
that specify to be contacted. These are:
(a) Number and
(b) Type of applicants
(a) Number of Contacts: Organization, nearly always, plan to
attract more applicants than they will hire. Some of those
contacted will be uninterested, unqualified, or both. Each
time a recruitment program is contemplated; one task is to
estimate the number of applicants necessary to fill all
vacancies with qualified people.
(b) Types of Contacts: this refers to the type of recruits are
required. The type of people depends on the task and
responsibilities involved and the qualifications and
experience expected. These details are available through job
description and job specification.
Strategy Development:
According to strategy development, there are considering five
way to set up in recruitment process. These are:
(a) 'Make' or 'Buy' Employees
(b) Technological Sophistication
(c) Geographic Distribution
(d) Source of Recruitment
(e) Sequence of Activities
(a) 'Make' or 'Buy' Employees: Organization must decide
whether to hire less skilled employees and invest on training
56
and education programs, or they can hire skilled labor and
professionals. Essentially, this is the 'make' (hire less skilled
workers) or 'buy' (hire skilled workers and professionals)
decision.
(b) Technological Sophistication: Technological advancement has
made it possible for job seekers to gain better access. They
have begun sending video tapes about themselves to number
of organization without wasting time and without spending
money of travel.
(c) Geographic Distribution: Generally, organizations look in to
the national market for managerial and professional
employees, regional or local areas for effective employees,
and local markets for clerical and blue-collar employees.
(d) Source of Recruitment: There may be two sources
categorized. These are:
(1) Internal Recruitment
(2) External Recruitment
(1) Internal Recruitment: Internal recruitment seeks applicants
for position form those who are currently employed. Internal
sources include present employees, employee referral,
former employees and former applicants.
(2) External Recruitment: External sources far outnumber the
internal methods. Specifically, sources external to an
organization are professional or trade associations,
advertisement, employees’ exchanges,
college/university/institute placement services, walk-ins and
write-ins, consultants, contractors, displaced persons, radio
and television, acquisitions and mergers, and competitors.
57
(e) Sequence of Activities: An effective recruiting strategy must
determine to sequence of activity that decide on the timings
of events besides knowing where and how to look for job
applicants.
Searching:
Once a recruiting plan and strategy are worked out, the search
process can be categorized in to two steps. These are:
(a) Source Activation
(b) Selling
(a) Source Activation: Typically, sources and search methods
are activated by the issuance of an employee requisition.
This means that no actual recruiting takes place until line
managers have verified that a vacancy does exist or will
exist. If the organization has planned well and done a good
job of developing its sources and search methods, activation
soon results in a flood of applicants and/or resumes.
(b) Selling: In selling the organization, both the message and
media deserve attention. Message refers to the employment
advertisement With regard to media, it may be stated that
effectiveness of any recruiting message depends on media.
Media are several such as some have low credibility
(employment exchange, for example), while others enjoy
high credibility (advertisement in business magazines, for
example). Selection od medium and media needs to be done
a lot of care.
Screening:
Screening of applications can be regarded as an integral part of
the recruiting process. Applications received in response to
58
advertisements are screened and only eligible applications are
called for an interview.
The purpose of screening is to remove from the recruitment
process, at an early age. Those applicants who are visible
unqualified for the job. Effective screening can save a great deal
of time and money.
In screening, clear job specifications are invaluable. It is both a
good practice and a legal necessary that applicants'
qualifications be judged on the basis of their knowledge, skills,
abilities and interests required to do the job.
Evaluation and Control:
Evaluation and control is necessary as considerable costs are
incurred in the recruitment process. The costs generally
incurred are:
i. Sales for recruiters.
ii. Management and professional time spent on preparing job
description, job specifications, advertisement, agency
liaison and so forth,
iii. Cost of advertisements or other recruitment methods that
is agency fees.
iv. Cost of producing supporting literature.
v. Recruitment overheads and administrative expenses
vi. Costs of overtime and outsourcing while the
vacancies remain unfilled
vii. Cost of recruiting suitable candidates for the selection
process.
Evaluation of Recruitment Process:
The recruitment process has the objective of searching for and
obtaining applications from job seekers in sufficient numbers
59
and quality. Keeping this objective in mind, the evaluation might
include;
1. Return rate of applications sent out.
2. Number of suitable candidates for selection. ]
3. Retention and performance of the candidates selected.
4. Cost of the recruitment process.
5. Time lapsed data.
6. Comments on image projected.
Fig 4: The Negative Effect of Dual-Purpose interviews.
4.8 Internal versus External Recruiting:
One desirable feature of a vacancy, which we mentioned earlier,
is that it, provides sample opportunity for advancement and
promotion. One organizational policy that affects this is the
degree to which the bank "promotes from within" that is,
recruits for upper-level vacancies internally rather than
externally.
We discuss internal versus external recruiting both here and in
"Recruitment Sources" later because this policy affects the
nature of both the job and the individuals who apply. For now,
we focus on the effects that promote from within policies have
on job characteristics, noting that such policies make it clear t6o
applicants that there are opportunities for advancement within
the bank. These opportunities spring not just form the first
vacancy but from the vacancy created when a person in the bank
Low
Anxiety
High Anxiety
60
fill that vacancy. For example, in a bank with three levels of
management, a vacancy at the third level that is filled from
within may "trickle down", creating a vacancy at the second
level, this, in turn, creates a vacancy at the first level.
The retailing industry is an example of an entire sector of the
economy that is increasingly being perceived as an area with
good opportunities for internal advancement. This is especially
the case for the superstores, such as Wal-Mart, Home Depot,
and Target, where thousands of managers must be hired and
promoted each year to run new outlets. Whereas the prestigious
corporate giants in manufacturing and banking are cutting back
personnel, Target chains hired 1,000 college graduates in the
spring of 1996. In fact, as noted by Leonard Berry, director of
the Center for Retailing, "these days, Wal-Mart and K-Mart are
two of the biggest recruiters on some college campuses."
Applicants who used to shun retailing job are now attracted to
then because of the opportunities for advancement. A newly
minted college graduate who goes to Target can have
responsibility for 20 employees and $8 million department 12
weeks out of school. These trainees, if successful, can become
managers of small stores in as little as three years. Some
employees who started with Target when they were 24 years of
age are regional senior vice-presidents by the time they are 30.
Led-the-Market Pay Strategies: Because pay is an important
job characteristic for almost all applicants, companies that take
a "Lead-the-Market" approach to pay-that is, a policy of paying
higher-than -current market -wages-have a distinct advantage in
recruiting. Pay can also be used to make up for a job's less
desirable features- for example, paying higher wages to
employees who have to work midnight shifts.
61
Employment-at-Will Policies: Employment -at-will policies
state that either party in the employment relationship can
terminate that relationship at any time, regardless of cause.
Companies that do not have employment-at-will provisions
typically have extensive due process policies. Due process
policies formally lay out the steps an employee can take to
appeal a termination employee with impunity. To protect
themselves from wrongful discharge suits, employees have been
encouraged to state explicitly, in all formal recruiting
documentation that the employment is "at will".
Some authors have gone far as to suggest that all mention of due
process should be eliminated from bank handbooks, personnel manual
and recruiting brochures. Although this may have some legal
advantages, job security is a feature to many job applicants.
Organizational recruiting materials that emphasize due process,
rights of appeal, and grievance mechanisms send a message that job
security is high; employment-at-will policies suggest the opposite.
Research indicates that job applicants find companies with due
process policies more attractive than companies with employment-at-
will policies.
Image Advertising: Organizations often advertise specific
vacancies. Sometimes, however, organizations advertise just to
promote themselves as a good place to work, in general. Image
advertising is particularly important for companies in highly
competitive labor markets that perceive themselves as having
bad image. We noted earlier that the challenge and
responsibility of a job is an attractive characteristic for many
people. These advertisements focused on the challenge
associated with jobs. They also attempted to offset certain
negative attributes of the work, such as the fact that, in some of
its jobs at certain times, other people are systematically trying to
kill you. Although the programs described here try to promote
the employer in the labor market in general, other image
62
advertising programs target specific groups within the overall
labor market. For example, may large corporations with
agricultural ties, such as DuPont and Cargill, struggle to attract
minority applicants. Statistics indicate, for example, that
Hispanics, Asians, and African Americans constitute a mere 4
percent, 3 percent and Spercent of all agriculture and food
scientists, respectively. Lisa Barrios, a Mexican American who
grew up in Chicago, typifies many urban minorities when she
notes that "I assumed everything was just framing if you didn't
have a rural background, then you wouldn't be able to do it."
After working at a special minority internship program at
Monsanto's Hybritech unit in Indiana, however, Barrios changed
her major from chemical engineering to agricultural
engineering.
Direct Applicants and Referrals: Direct applicants are people who
apply for a vacancy without prompting from the organization.
Referrals are people who are prompted to apply by someone
within the organization. These two sources of recruits share
some characteristics that make them excellent sources from
which to draw.
First, many direct applicants are to some extend already "sold" on the
organization. Most of them have done some homework and concluded
that there is enough fit between themselves and the vacancy to
warrant their submitting an application. This process is called "self-
selection", and when it works effectively, it takes a great deal of
pressure off the organization's recruiting and selection systems. A
form of aided self-selection occurs with referrals too. Current
employees (who are knowledgeable of both the vacancy and the
person they are referring) do their homework and conclude that there
is a fit between person and the vacancy; they then sell the person on
the job. Indeed, research shows that new hires that used at least one
informal source reported having greater pre hire knowledge of the
organization than those whom relied exclusively on formal
63
recruitment sources. Those who report having multiple sources were
even better, however, in terms of both pre hire knowledge about the
position and subsequent turnover. In fact, the turnover rate for
applicants who came from multiple recruiting sources was half that of
those recruited via campus interviews or newspaper advertisements.
When one figures into these results the low costs of such
sources, they clearly stand out as one of the best sources of new
hires. Indeed, some employers even offer financial incentives to
current employees for referring applicants who are accepted and
perform acceptably on the job (e.g., stay 180 days). Other
companies play off their good reputations in the labor market to
generate direct applications. For example, minorities constitute
26 percent of the 6.500 managerial and professional employees
at Pubali Bank Ltd, and this enhances the firm's ability to recruit
other minorities. As Mr. Ibrehim Khaled, managing director at
Pubali Bank, "I get a lot of resumes from people of all cultures
and ethnicity's because Pubali Bank has a good reputation," and
this precludes the need for expensive and sometimes unreliable
outreach programs.
Of course, referrals don't necessarily have to come just from
current employees. The importance of good community relations
to recruitment can be seen in the experience of Islami Bank Ltd,
which was rated number one on Business Week's list of 100 best
Banks in last year. Islami Bank Ltd is one of the fastest growing
banks in the Bangladesh, once relied on classified ads to find
drivers and store employees. This method was highly unreliable,
however, because the bank did not have the facilities to develop
sophisticated tests of people's skills and attitudes. Store
managers are now encouraged to make professional contacts
within their communicates such as with the principal or
guidance counselor at the local high school, leaders of church
groups, and coaches in youth sports leagues. Store managers
64
can then use these contacts to help generate referrals among
promising young applicants. These community relationships help
connect the Islami Bank to potential employees who have
established good reputations in their community for reliability
and trustworthiness.
Advertisements in Newspapers and Periodicals: Advertisements to
recruit personnel are ubiquitous, even though they typically
generate less desirable recruits tan direct applications or
referrals, and at greater expense. However, since few employers
can fill all their vacancies with direct applications and referrals,
some form of advertising is usually needed. Moreover, an
employer can take many steps to increase the effectiveness of
this recruitment method.
The two most important questions to ask in designing a job
advertisement are:
• What do we need to say?
• To whom do we need to say it?
With respect to the first question, many organizations fail to
adequately communicate the specifics of the vacancy. Ideally,
persons reading an ad should get enough information to
evaluate the job and its requirement, allowing them to make a
well-informed judgment regarding their qualifications. This
could mean running longer advertisements, which costs more.
However, these additional costs should be evaluated against the
costs of processing a huge number of applicants who are not
reasonable qualified or who would not find the job acceptable
once they learn more about it.
In terms of whom to reach with this message, the organization
placing the advertisement has to decide which medium it will
65
use. The classified section of local newspapers is the most
common medium. It is a relatively inexpensive means of
reaching a large number of people within a specified geographic
area who are currently looking for work (or at least interested
enough to be reading the classifieds). On the downside, this
medium does not allow an organization to target skill levels very
well. Typically, classified ads are read by many people who are
either over- or under qualified for the position. Moreover, people
who are not looking for work merely read the classifieds, and
thus this is not the right medium for luring people away from
their current employers. Specially targeted journals and
periodicals may be better than general newspapers at reaching a
specific part of the overall labor market. In addition, employers
are increasingly using television-particularly cable television-as
a reasonably priced way of reaching people.
Public Employment Agencies: The Social Security Act of 1935
requires that everyone receiving unemployment compensation
be registered with a local state employment office. These state
employment offices work with the Employment Service to try to
ensure that unemployed individuals eventually get off state aid
and back on employer payrolls. To accomplish this, agencies
collect information from the unemployed about their skills and
experiences.
Employers can register their job vacancies with their local state
employment office, and the agency will attempt to find someone
suitable using its computerized inventory of local unemployed
individuals. The agency makes referrals to the organization at no
charge, and these individuals can be interviewed or tested by
employer for potential vacancies.
Private Employment Agencies: Public employment agencies serve
primarily the blue-collar labor market; private employment
66
agencies perform much the same service for the white-collar
labor market. Unlike public agencies, however, private
employment agencies charge the organization for the referrals.
Another difference between private and public employment
agencies is that one doesn't have to be unemployed to use a
private employment agency.
One special type of private employment agency is the so-called
executive search firm (ESF). These agencies are often referred to as
"headhunters" because, unlike the other sources we have examined,
they operate almost exclusively with people who are currently
employed. For example, when BMW sought to open it new U.S. plant,
it used an executive search firm to help "liberate" Alien Kinzer and
Edwin Buker form Honda, looking to re-create the success that Honda
had by recruiting these individuals.
Dealing with executive search firms is sometimes sensitive
process because executives may not want to advertise their
availability for fSear of their current employer's reaction. Thus,
ESFs serve as an important confidentiality buffer between the
employer and the recruit. ESFs are expensive to employ for both
direct and indirect reasons. Directly, ESFs often charge one-
third to one-half of the salary of the executive who is eventually
placed. Indirectly, employers who use ESFs wind up having to
lure people not form unemployment but from jobs that they may
be quite satisfies with. A bank in a growing industry may have to
offer as much as 50 percent more than the executive's current
pay to prompt his or her to take the new job.
Colleges and Universities: Most colleges and universities have
placement services that seek to help their graduates obtain
employment. Indeed, on-campus interviewing is their graduates
obtain employment. Indeed, on-campus interviewing is the most
important source of recruits for entry-level professional and
managerial vacancies. Organizations tend to focus especially on
67
colleges that have strong reputations in areas for which they
have critical need (chemical engineering, public accounting,
etc.)
For example, Standard Charted Bank has a five-part college
recruiting strategy. First, the bank concentrates it efforts on 25
to 30 selected universities, trying not to spread itself too thin.
Second, it has a commitment to these selected universities and
returns each year with new openings. Third Standard Charted
Bank uses a large number of line managers in its recruiting
interviews; because they have better real world knowledge
about the job and working conditions relative to improve
narrowly informed human resource staff. Fourth, the HR staff is
used to coordinate the line managers' activities with the
university' staff, making sure that the same person works with
the same university year in and year out to achieve "continuity of
contact." Finally, Standard Charted Bank strives for continuous
improvement by frequently asking students they have recruited
to give them feedback on the process and, where possible, to
compare and contrast Standard Charted Bank's process with the
process used by other firms recruiting at the same university.
Many employers have found that to effectively compete for the
best students, they need to do more than just sign prospective
graduates up for interview slots. One of the best ways to
establish a stronger presence on a campus is with a college
internship program. For example, HSBC funds a summer intern
program for minority M.B.A students and often hires these
interns for full-time positions when they graduate. These kinds
of programs allow an organization to get early access to
potential applicants and to assess their capacities directly.
Another way of increasing one's presence on campus is to
participate in university job fairs. In general, a job fair is a place
68
where many employers gather for a short time to meet large
numbers of potential job applicants. Although job fairs can be
held anywhere (e.g., at a hotel or convention center), campuses
are ideal locations because of the large number of well-
educated, yet unemployed, individuals who live there.
Participation in job fairs is a rather inexpensive means of
generation an on-campus presence, and it can even provide
some one-one-one dialogue with potential recruits-the kind of
dialogue that could not be achieved through less interactive
media like newspaper advertisements.
Finally, as more organizations attempt to compete on a global
level, the ability to recruit individuals who will be successful
both at home and abroad is becoming an increasing concern,
and many organizations feel that college campuses are one of
the best places to search for this type of transportable talent.
Commercial Bank of Cylon , for example, is a U.S technology
firm with 8,000 employees- only 2,000 of whom lives in the
United States. Commercial Bank of Cylon derives 70 percent of
its $950 million in annual sales from outside the United States,
and thus the majority of workers are expatriates, local nationals,
or foreign service employees. Three critical aspects of
Commercial Bank of Cylon's recruitment strategy are critical to
its success in attaining an internationally talented work force.
Final Commercial Bank of Cylon focuses on recruiting college
students. As one manager at Commercial Bank of Cylon states,
"We have had more success molding younger people into this
bank and into overseas assignments than taking more
experienced people who've worked for other companies."
Second, Commercial Bank of Cylon recruits many foreign
national students (especially M.B.A. who are studying in the
Universities for assignments back in their native country. These
individuals have the best of both worlds, in terms of having a
69
formal education in business practices and also having a firm
understanding of both the language and culture of their home
country. Finally, when recruiting students, Commercial Bank of
Cylon requires that each person hired be fluent in both English
and one other language. This commitment to multilingual
competency can be seen at the national headquarters, where 15
different languages are spoken.
Electronic Recruiting: As we highlighted in the vignette that opened,
many of the advantages of a typical job fair can now be gained
without the need to place the recruiter and recruit in the same
physical location. Computer recruitment networks allow employers to
conduct searches that are widely distributed geographically, without
ever leaving the home office. Within the last few years, the use of
computer networks to recruit employees has expanded a great deal.
Evaluating the Quality of a Source: Because there are few rules about
the quality of a given source for a given vacancy it is generally a
good idea for employers to monitor the quality of all their
recruitment sources. One means of accomplishing this is to
develop and compare yield ratios for each source. Yield ratios
express the percentage of applicants who successfully move
from one stage of the recruitment and selection process to the
next. Comparing yield ratios for different sources helps
determine which is best or most efficient for the type of vacancy
being investigated. Data on cost per hire is also useful in
establishing the efficiency of a given source.
The following table shows hypothetical yield ratios and cost-per-
hire data for five different recruitment sources. For the job
vacancies generated by this bank, the best two sources of
recruits are local universities and employee referral programs.
Newspaper advertisements generate the largest number of
recruits, but relatively few of these are qualified for the position.
70
Recruiting at nationally renowned universities generates highly
qualified applicants, but relatively few of them ultimately accept
positions. Finally, executive search firms generate a small list of
highly qualified and interested applicants, but this is an
expensive source compared with other alternatives.
Table 10.4 : Hypothetical Yield Ratios for five Different Recruitment Source
Recruiting Source
Local
University
Renowned
University
Employee
Referrals
Newspaper
Ad
Executive
Search Firm
Resumes
generated
200 400 50 500 20
Interview
offers
accepted
175 100 45 400 20
Yield ratio 87% 25% 90% 80% 100%
Judged
acceptable
100 95 40 50 19
Accept
employment
offers
90 10 35 25 15
Yield ratio 90% 11% 88% 50% 79%
Cumulative
yield ratio
90/2000 10/400 35/50 25/500 15/20
Yield ratio 45% 3% 70% 5% 75%
Cost $30000 $50000 $15000 $20000 $6000
Cost per hire $333 $5,000 $428 $800 $ 6,000
4.9 Recruiters:In many cases, by the time a recruiter meets some applicants,
they have already made up their minds about what they desire in
a job and what the current job has to offer. Moreover, many
applicants approach the recruiter with some degree of
71
skepticism. Knowing that it is the recruiter's job to sell them on
a vacancy, some applicants my discount what the recruiter says
relative to what they have heard from other sources. For these
and other reasons, recruiters' characteristics and behaviors
seem to have less impact on applicants' job choice than one
might expect. Moreover, as shown in the following figure,
whatever impact a recruiter does have on an applicant lessens
as one moves from reaction criteria (i.e., how the applicant felt
about the recruiter) toward job choice criteria (i.e. Whether the
applicant takes the job).Recruiter's Functional Area: Most organizations must choose
whether their recruiters are specialists in human resources or experts
at particular jobs (e.g. supervisors or job incumbents). Some studies
indicate that applicants find a job less attractive and the less credible
when he or she is a personnel specialist. This does not completely
discount the role of personnel specialists in recruiting, but it does
indicate that such specialists need to take extra steps to ensure that
applicants perceive them as knowledgeable and credible.
Recruiter's Traits: Two traits stand out when applicants'
reaction to recruiters are examined. The first, which could be
called "warmth," reflects the degree to which recruiter seems to
care about the applicant and is enthusiastic about his or her
potential to contribute to the bank. The second characteristic
could be called "informative ness." In general, applicants
respond more positively to recruiters who are perceived as warm
and informative. These characteristics seem more important
than such demographic characteristics as age, sex, or race,
which have complex and inconsistent effects on applicant
responses.
72
Fig 5: Relative Impact of die Recruiter on Various Recruitment Interview Outcomes.
Recruiter's Realism: Perhaps the most well researched aspect
of recruiting deals with the level of realism that the recruiter
incorporates into his or her message. Since the recruiter's job is
to attract candidates, there is some pressure to exaggerate the
positive features of the vacancy while downplaying the negative
features. On the other hand, if the recruiter goes too far, the
candidate can be misled and lured into taking the job under false
pretenses. This can lead to a serious case of unmet expectations
and a high job turnover rate.
Many studies have looked at the capacity of "Realistic Job
Previews" to circumvent this problem and help minimize early
job turnover. On the whole, the research suggests that the effect
of realistic job previews on eventual turnover is weak and
inconsistent. Certainly, the idea that one can go overboard in
selling a vacancy to a recruit has merit. However, the belief that
informing people about the negative characteristics of the job
will "Inoculate" them to such characteristics seems
unwarranted, based on the research conducted to date. Thus, we
return to the conclusion that the decisions an organization
makes about personnel policies that directly affect the job's
attributes (i.e., pay, security, advancement opportunities, and so
on) will probably be more important than recruiter traits and
behaviors in affecting job choice.
73
Enhancing Recruiter Impact: Although research suggests that
recruiters don't have much influence on job choice, this does not
mean recruiters cannot have an impact. Most recruiters receive
little training, and recent research has attempted to find
conditions in which recruiters do make a difference. Based on
this research, an organization can take several steps to increase
the impact that recruiters have on those they recruit.
First, recruiters can provide timely feedback. Applicants react
very negatively to delays in feedback, often making unwarranted
attributions for the delays (e.g., the organization is uninterested
in my application). Second, recruiters need to avoid behaviors
that might convey the wrong organizational impression. Third,
recruiting can be done in teams rather than by individuals. As
we have seen, applicants tend to view line personnel (e.g., job
incumbents and supervisors) as more credible than personnel
specialists, so these kinds of recruiters should be part of any
tern. On the other hand, personnel specialists have knowledge
that is not shard by line personnel (who perceive recruiting as a
small part of their "real" job), so they should be included as well.
4.10 Prerequisites of a good Recruitment policy:
Prerequisites of a good recruitment policy:
1. It should be flexible enough to meet the changing needs of an
organization.
2. It should provide job security and continuous employment.
3. It should assure employees of fairness in all
employment relationship including promotion and transfer.
4. It should not be against the relevant public policy.
5. It should provide equal chance to each employee to develop
his knowledge and skills the maximum possible extent.
74
4.11 Recruitment Alternatives
There are some recruitment alternatives. They are-
Temporary help service
Employee leasing
Independent contractors
75
Chapter 5: Recruitment Process of JAMUNA BANK
LIMITED
JAMUNA BANK LIMITED follows comprehensive and extensive
selection procedures in their search for the most ideal and
competent professionals. The testing methods are effectively
designed in order to accurately evaluate the required
competence and skill for particular jobs.
5. 1 Sources of Talents:
JAMUNA BANK LIMITED try to discover industrious and
innovative people ready to embark on a challenging career in
JAMUNA BANK LIMITED. During their search for talent, they
carry out a number of activities such as:
Collect CVs from Job Fairs, reception and various alternative
sources.
Advertise in daily newspapers.
Provide on-line database.
Accept hard-copy submission of CV s in their office.
Accept on-line application in their office.
5.2 Online Job Application System of JAMUNA BANK LIMITED
This is about “Application System of JAMUNA BANK LIMITED.
JAMUNA BANK LIMITED encourages all candidates to apply
using their on-line process. From this online system they can
easily process candidates’ application quickly and candidates
will receive an acknowledgement that candidates’ application
has been safely received.
76
This Online Application System allows candidate to apply for
any vacant position in -JAMUNA BANK LIMITED- through
Internet. From now on, candidate doesn't have to mail his or
her resume to the Bank. What he/she has to do, he will just fill
up the Online Application/Resume Form and Click Submit
option, JAMUNA BANK LIMITED will receive his/her
application/resume. Please note that, a candidate does not have
to submit, his/her resume twice if he already has resume posted
at the JAMUNA BANK LIMITED Job Application System
77
5.3 Recruitment & Responsibilities:
A Candidate Has to Read Carefully the Following Instructions
Before Apply Online for His Desired Positions. He should go
through the detail job requirements & responsibility before
applying for any position
A candidate should not apply for any position that doesn't
match with his job requirements.
He should select, from the vacancy list, the particular Job
Vacancies (not more than 2 jobs) he wants to apply for.
He should click at "Apply Online" to get the Application/
Resume Form.
He can also download and Save the Application/Resume
Form, fill it off-line to submit it online later on.
He will be given a tracking number, which he can use for any
further reference with respect to his application in JAMUNA
BANK LIMITED.
5.3.1 Instructions for Editing
This online Application System provides the facility to
edit/update Posted Resume any time.
A candidate should remember the Password he has entered at
the time of Resume Submission. Also he has to remember the
tracking number he is given by the system once his
Application/Resume has been successfully posted.
If he has not got the tracking number and a password, he can
log in to the 'Edit Resume1 Box and make necessary update of
your provided information (including the particular position
applied for)
78
Please note that, a candidate doesn't have to submit resume
every time a new vacancy is announced by JAMUNA BANK
LIMITED he has to do is- just log in to his resume account
and select the new job opening from the list.
5.4 Recruitment Process:
Recruitment is the process of finding and attracting capable
individuals to apply for employment. Success in recruiting is not
simply measured by the number of applications received. The
right type of applicant is far more important than the number of
applicants
Job analysis information is key to the success of the endeavor. It
ensures that the incumbent will meet the requirements of the
job as well as individual attributes deemed necessary. Job
analysis information exists in job descriptions and specifications.
If this information does not exist, manager’s comments become
invaluable. For example, requirements may involve knowledge,
but not experience, leading to recruitment efforts in local
educational institutions. Identifying experience as a requirement
would eliminate educational institutions from recruitment efforts
with the exception of continuing education.
Consider the Following in Determining Recruitment Needs:
When consulting the job description for the position, identify
actual duties and look for other attributes that might be
helpful.
Determine the characteristics of organization' s culture. What
attributes might a person need to fit in?
Who will be supervising the position? What attributes should
a person possess to serve as a complement to this boss?
79
With what other individuals will this person have day-to-day
contact? Are there certain group characteristics that need to
be taken into account?
Look around your environment. What other factors might
have to be taken into consideration to assure a thorough
assessment of position characteristics?
Understanding the constraints on recruitment is also key to
success. As the labor market tightens, it becomes even more
important to determine the most appropriate recruitment
sources. In that way, budgets are spent in a manner that will
provide a positive return on investment.
5.4.1 Application Screening
An organization’s overall effectiveness and success depends
on the quality and caliber of the employees it hires. Skills and
qualifications must closely match the organization’s culture
and strategic requirements.
The selection process begins with evaluating resumes and
cover letters effectively. The key to evaluating a resume is to
remain impartial, particularly if the candidate is known. Look
specifically at the following components:
Overall Appearance
Are there spelling errors?
Is everything in the proper tense?
Does it have a "textbook" appearance - did the applicant or
a professional prepare it? t* What impresses you positively
and negatively?
80
Organization
Does the resume tell you what you want to know?
Has care been taken to include information that will help you
in the decision making process?
Does it ramble?
Are individual entries consistent and understandable?
Do you find the information you need when looking under the
logical category?
Education
Look at the motivation of an applicant who possesses
more education than the position requires.
Look for irregularities with education listed. More than 30%
of all applicants lie on resumes, particularly about education.
Experience
Does the applicant provide parameters from which to judge
responsibility? (number supervised, size of budget, amount of
sales) I* Duties vs. responsibility - what did they actually do?
Do they provide a list of accomplishments, which give an
indication of work ethic and working knowledge?
Is this a real job title? Many applicants can be pretty free with
descriptions.
Note the frequency of job changes - is this contract work or a
job hopper?
References
81
Use the phone. Most references are more likely to be honest
over the phone or in person rather than in a formal letter.
Seek information on job - related behavior. Ask for details
such as tardiness and absenteeism, rather than personality
traits, such as ambition and intelligence, which are hard to
evaluate.
Do ask, "Would you rehire this employee?"
Do ask, "How is this person’s behavior in a group setting?"
Watch out for phrases with hidden meanings. Most
references do not blatantly lie, they simply don’t tell the
whole truth. A person described as someone who is deeply
committed to family and friends may be someone who will
not work beyond five o' clock.
Cover Letter
Is it written in proper business format?
Is there care shown in the preparation of the letter? Is it
addressed to you or "Dear Sir"?
Is it an original letter or are you one of 399 recipients? Look
for references specific to your organization rather than
canned phrases.
Is the spelling and grammar correct?
Does the letter achieve its objective? Does it impress you with
the applicant’s focus and reasons for wanting the job?
Will the marketing quality that sells you on the applicant
contribute to your organization?
82
5.4.2 Screening Applicants by Telephone
Once a HR manager has determined the qualified applicants,
consider his first contact as a screening tool. Phone calls offer
tremendous opportunities to gather information about a person’s
background, level of confidence, communication skills, etc. It is
also a faster process than personal interviews since conversation
tends to be shorter. It eliminates the hassle of scheduling,
reserving rooms and other tasks an extra time. Phone interviews
are viewed as less formal and are therefore more relaxed.
However, this is not to replace personal interviews entirely.
Preparation for Telephone Interviews is Critical
Develop clearly worded questions and outline what you expect
for answers. Ensure you ask the same questions to all
applicants.
Prepare what you will say about the job and organization
when screening applicants.
Prepare an evaluation form that will be used for all
applicants. Notes will not provide the same clarity as a form,
which gives a summary of experience in the same place for
each applicant. Ensure you treat everyone the same.
Prepare for the common questions that applicants are most
likely to ask.
Rehearse the screening process.
Block out time to screen applicants so you will not be
interrupted.
5.4.3 Personal Interviews
83
Recognize that the best person for a job is one who finds the job
challenging and is able to do the majority of it upon hiring. The
rule of thumb is to select someone who can do 80% of the job.
Instead of asking the predictable questions, "Tell me about
yourself" and the like, consider asking the person to tel-1 you a
story about a time when they had to deal with a difficult
customer. What was the situation? How did the person attempt
to handle it? What was the result? What did the person learn? A
story allows insight into the person' s poise, attitude and ability
to communicate. Use phrases such as "Help me understand---"
Each candidate should be interviewed in the same way. Questions,
exercises and tasks should not vary and must all be job-related. Try to
schedule interviews in the morning since those interviewed late in the
afternoon tend to suffer in the evaluation process.
Develop questions with care given to how they are formed. Each
question should address defined criteria for the job. Questions
will fall into five categories
Career goals/occupational objectives
Education
Work experience
General skills and aptitudes related to job criteria
Attitudes and personality characteristics
When Conducting Interviews, Keep These Tips in Mind :
Review the candidate’s application materials before you walk
into the interview.
Prepare the location to make sure things are in order and that
no interruptions will occur.
Put the candidate at ease. Don' t make them wait. A little
small talk never hurts.
Outline the interview process, but do not identify a time
84
frame. If the interview goes poorly, end it quickly.
Keep an open mind by trying not to prejudge the candidate
based on the first 30 seconds of contact.
Let the candidate do the talking
Be attentive.
Observe body language - is there a level of enthusiasm
and confidence?
Take notes.
Maintain control - be careful not to let the interviewee take
over.
Probe incomplete answers.
Test for character - after a person has given the answer, ask
them about their approach and reasoning.
Keep reactions to yourself.
Close the interview on a positive note. Refrain from
announcing a decision.
Write an interview summary.
5.4.4 Second Interviews
Second interviews are always a good idea, but absolutely
necessary whenever more than one candidate is outstanding.
They are an opportunity for further assessment. Clarify
applicant' s needs, desires and qualities. Misunderstandings
usually prove costly.
Look for hot buttons during your conversation that reveal the
person’s real priorities and interests in the position. Especially
look for clues in comments about success, needs for recognition
or monetary reward or challenge. A sample question might be,
"What things are important to you in your career development?"
Use your intuition. If something doesn’t feel right, investigate. Don’t
be afraid to sell if your top candidate is in high demand, "What will it
85
take for you to come to work for us?" Get them to identify all concerns
and desires and then address each one.
5.4.5 Notifying Candidates
Efficient decision-making reduces the loss of excellent candidates. The
entire selection process for any candidate should take no more than
three weeks.
Every unsuccessful applicant who has been interviewed should
receive a response within two or three days by mail. Form letters can
be very helpful to ensure a clean process. You are not obligated to
explain your reasons for rejection.
5.5 Part-time Employment:
Whether he is a professional seeking greater challenges or a
student embarking on an exciting new career, JAMUNA BANK
LIMITED will enhance him potentials and even help him to
discover himself. If he is a full-time or a part-time student
(internship) wishing to gain work experience and financial
support, then Hr department is just the place for him to apply.
HSBC follows comprehensive and extensive selection procedures
in their search for talent. The testing methods are effectively
designed in order to accurately evaluate the required
competence and skills for particular jobs.
Their Procedures for Recruitment Involve the Following Steps
Primary screening based on job descriptions
Written tests that evaluate the technical know-how according
to required disciplines
Evaluation of written communication and analytical skills
Well-structured and paneled interviews that evaluate
competence of required positions
86
Final selection
Appointment
The duration for a part-time job is about 3 to 6 months. No
advertisements are made for part-time recruitment.
5.6Internship :
Here a student has an opportunity to get valuable work
experience as a student.
A student’s internship marks the end of his education and, more
often than not, decides his future by indicating the beginning of
his career. This in-depth study requires special attention since it
may mark the beginning of your life as a professional.
JAMUNA BANK LIMITED offers students the perfect opportunity
to gain on-the-job experience by supporting and .guiding them
during their internship programs in many of JAMUNA BANK
Limited’s business areas. After all, JAMUNA BANK LIMITED
knows that today’s students could become tomorrow’s most
efficient employees.
JAMUNA BANK LIMITED hosts a steadily increasing number of
students seeking practical experience through internships. They
collect list of interns from various Universities and look out for
the appropriate opportunity to find provisions for interns in the
bank. Candidates are then called for interviews, which may be
paneled and sequential. Interns are selected on the basis of
interview findings, which evaluate the necessary qualifications
required for the following of their business departments:
Retail Banking
SME
Credit card Division
Human Resource
87
Cash
Students conducting internships at JAMUNA BANK LIMITED are
offered competitive pay according to the scale of interns' token
pay. An internship program lasts for a maximum duration of 3
months
88
Chapter 6: Analysis of Questionnaire
The questionnaire has been surveyed to find out or to visualize
the "Human Recruitment Process of JAMUNA BANK LIMITED. I
surveyed it among 25 staffs or employees of JAMUNA BANK
LIMITED. After survey, I did the work of interpretation, means,
whatever, we found. Our findings are listed below according to
the serial of the questionnaire:
In the interpretation of questionnaire, I have used same graphs,
because of,
For making it more clear.
For avoiding mistakes.
I have already mentioned in the assumption that, all staffs are,
anyhow, involved with recruitment process for making the survey
easier, because it is a little bit difficult task to make the survey in
"High Level Management". We believe, today's "Mid Level Managers
or Officers" are the part of future "High Level Management".
I did the survey in the "Customers Relation Division". So, all the
employees, took part in the survey, were from "Customers
Relation Division". In a short period of time, it was not possible
for us to provide more affords or to survey in another divisions.
Sometimes, the questionnaire did not reflect the "Actual
Information" of the manager, might be he or she did not show
his or her best interest in the questionnaire.
I already mentioned that, the survey has been done within 25
employees or staffs or officers. The result has been converted to
"100" for making the meaning easily understandable.
89
Age of Employees
Fig. 6 : Age of Employee- It is clear that maximum respondents are from 25-35 that is the young to mid level.
Educational status of
Employees
90
Fig 7 : Educational level- Though it is nearly the same (the graduates and masters’ level of respond) the maximum respondents are fresh and matured graduates. It also indicates the balance between educational status of employees and age of employee (in this and above figure).
Do you prefer “External
Source” than “Internal
Source” For Recruitment?
Fig. 8 : Recruitment source- External is more popular than internal sources. This is because external sources bring the opportunity to collect from a vast range of people with different levels of education. Moreover it advertises for the bank along with a great help for the respondents to learn about the bank in details. Also, it increases the recognition of the bank in the market.
91
Do you prefer “Internet” than “Newspaper” for Recruitment?
Fig. 9 : Media- internet is preferred more than newspaper both for the recruiters and the respondents this is probably because JAMUNA BANK LIMITED looks for computer educated people that is why they also submits more circular on the internet than the newspapers.
92
Do you think “Internal Source” is not biased?
Fig : Biasness- Obviously internal sources are biased otherwise it would not be possible to return a major unit of people within a short period moreover the people who had good terms with the officers got benefited.
Fig. 11 : Types of question- Psychological question brings more practical impacts in human recruitment process.
93
Do you look for “Previous Experience” for Recruitment?
Fig. 12 : Previous Experience- it is preferred mostly when the experience is job
related. Though inexperienced fresher are also recruited at the same level but there
are also a few personnel who are with different kind of background.
Do You Use “Arrest Record” for Automatically Disqualify A Candidate?
Fig 13 : Arrest- Probably if the issue is very critical, arrest records become a major criteria for disqualification otherwise for little impact both in job related field and in other fields, arrest records are not a factor.
94
Do You Prefer Female Than Male for The Same Position Having Same
Ability?
Fig. 14 : Preferences- The preference is nearly neutral and is not more than a male
having the same ability though in some negligible cases females are preferred
more.
Do you ask for good educational requirement in case of minority groups?
Fig. 15 : Requirement- Average educational requirements are preferred
otherwise it is not obvious to have a good educational requirement.
95
Do you rehabilitate employees after Physical or Mental
Depression ?
Fig. 16 : Rehabilitation- In most cases cures are provided to the consequent
mishaps either it is physical or mental.
Were You asked any question in Interview, Which Was Not Job Related?
Fig. 17 : Question- No question is behind the job requirements but is mostly
psychological as found in one of the above figures.
96
Did you feel any kind of discrimination?
Fig. 18 : Discrimination- No discrimination occurs in this organization.
Employees Seems to Be Employed at JAMUNA BANK LIMITED , Because
Benefits, Salary an Goodwill
Fig. 19 : Working on JAMUNA BANK LIMITED- Majority wants to get benefited from the organization. As it is a well known organization there is a vast range of benefits. An average number of personnel are here for their attractive range of salaries and a few joins for the bank goodwill.
97
Chapter 7: Findings
Though more circulars are found on the internet (bdjobs.com,
etc) than the newspaper probably to search for the computer,
accounting etc related people, people from most levels preferred
to go through newspapers for searching the suitable job which
has become a tradition only a few people utilizes the power of
internet. And who are getting benefited.
Though psychological questions are preferred more by the
recruiters, still there is need for more theoretical questions
along with it because to test their theoretical knowledge related
to their work field.
Arrest records are made negligible in the interviewing
process which should be given more stress to eliminate
fraudulence in the bank.
We know JAMUNA BANK LIMITED is the country's one of the
renowned retail banks, but in the survey it is found that most
respondents are here for their own benefits not for the bank
goodwill.
98
Chapter 8: Recommendations and Conclusion
Interpretation of the questionnaire has been showed before.
From that we learned so many factors that have impact on the
"Recruitment Process of JAMUNA BANK LIMITED.” Such as:
8.1 Rules and Regulations or Traditions (in Brief)
JAMUNA BANK LIMITED always prefers that candidates
whom ages fall into the category of 25-35
Their “Educational Requirement” is minimum “Graduate" in
most cases.
They prefer "External Source" for recruitment.
Among the "External Media's" they prefer "Internet" most.
The people who believe that JAMUNA BANK LIMITED uses
"Internal Source" for recruitment, among them, most of the
peoples believe that "Internal Source" is biased.
At the time of recruitment, they ask a candidate
"Psychological Questions".
Many of them believe that they don't look for "Previous
Experience" for recruitment and the rest believe that,
"Previous Experience" is important if it is "Job Related.”
Most of them uses "Arrest Record" for automatically
disqualify a person.
Many of them don't prefer female than male in the "Same
Position Having Same Ability".
Most of them prefer "Minority Groups" for recruitment; even
99
they don't ask for good educational requirement in case of
them.
In most cases, they rehabilitate employees after physical or
mental depression.
They didn't face any type of question in the interview, which
was not job related. That means, JAMUNA BANK LIMITED
doesn't ask any question in the interview, which is not job
related during recruitment.
No candidate usually does face any type of discrimination
during recruitment process.
8.2 Ethical Issues or Burning Questions (in Brief)
Most of them consider that "Arrest Record" should not be
used for automatically disqualify a person.
Many of them think that female should not be preferred for
the same position having same ability.
Almost everybody give the opinion that "Good
Educational Requirement" should be asked in case of minority
groups.
Most of them accept that employee should be rehabilitated
after physical or mental depression.
100
8.3 Conclusion:
Actually, it's a very tough job to find out the "Human
Recruitment Process of Any Organization", because, the lack of
"Structured Features" that exists in that organization at the time
of "Recruitment". Instead of that, we conducted a survey to find
out that in JAMUNA BANK LIMITED The "Questionnaire"
conveys those factors in which they believe or which they want
to come true. The main problem, we faced in finding out the
"Recruitment Process of JAMUNA BANK LIMITED was the lack
of any book or document that containing writings about their
"Hypothetical Recruitment Process". Moreover, in the restriction
of "Expressing Their Rules and Regulations outside Their
Organization". That's why; we took the help of "Questionnaire".
Whatever they need or whatever they need to be changed in
their organization at the time of recruitment, was briefed in this
"report". The more important thing that we should include in the
conclusion is that, the rating of the raters depends on their
perception, varies person to person according to their practice,
interest and above all, "Background". That's why their answers
got different from each other in the questionnaire instead of
doing jobs in the same organization or in the same position.
Recently, Bangladesh is being ranked first as a corrupted
country. So here we can never hope that the recruitment process
will be valid and reliable. There are biasness and other political
influences hindering above recruitment process. HR officers
should not be bias.
But this doesn't mean that all the organizations in our country
are corrupted. I gave the examples of JAMUNA BANK LIMITED
who are following this method. But it is true that, perfect
selection and recruitment process will give the bank perfect
employee who will be very effective for the organization.
101
Bibliography
1. "Human Resource Management" — Noe, Hollenbeck,
Gerhart, Wright.
2. "Human Resource Management
The Strategic Perspective" —John B. Miner & Donald P.
Crane.
3. "Human Resource and Personnel Management" — K.
Aswathappa.
1. "Human Resource Management" — David A. Decenzo
Stephen P. Robbins
102
Questionnaire
Dear Sir/Madam,
Here is a short questionnaire for you to fill and help us successfully to extract the
necessary raw facts of an observation on Recruitment process. The quoted text is
for a Term Paper on Recruitment Policy of JAMUNA BANK LIMITED. Please
feel free to answer the questions and help to extract the truth. Your answers will
not be published anywhere and will be kept secret.
Personal Information:
Name of the respondent :
Age : <15
15 to 25
25to 35
35 to 45
45+
Gender : Male
Female
Occupation:
Educational Status
Graduate
Masters
Others
103
Q.1. Do you prefer “ External source” than “Internal Source” for recruitment?
Yes
No
If “Yes”, Which external Source do you prefer most.
Internet
TV
Newspaper
Billboard
If “No” Don’t you think that there is biasness in “Internal source”?
Yes
No
Q.3. what type of question do you ask a candidate?
Psychological
TheoreticalQ.4. Do you looking for "Previous Experience" for recruitment?
Yes
No
Yes, if it is job related.
Q.5. Do you use "Arrest Record" for automatically disqualifies a candidate?
Yes
NO
Yes, if it is job related.
Q.6. Do you prefer female than male for the same position having same ability?
Yes
No
Q. 7. Do you ask for "Good Educational Requirement" in case of "Minority
Groups"
Yes
No Depends on Situation
104
Q.8. Do you rehabilitate employees after physical or mental depression?
Yes
No
Depend on Situation.
Q.9. Were you asked any question in interview, which was not job related?
Yes
NO
Q. 10. Did you feel any kind of discrimination
Yes
NO
Q.ll. "Arrest Record" should be used for automatically disqualify a candidate.
Yes
No
Yes, if it is job related.
Q.1 2. Female should be preferred than male for the same position having same
ability.
Yes
No
Q.1. 3. "Good Educational Requirement" should not be asked in case of "Minority
Groups"
Yes
No
Depends on Situation
Q.14. Employees should be rehabilitated after physical or mental depression.
Yes
NO
Q.15. Students seem to be employed at JAMUNA BANK LIMITED, because of
Goodwill
Salary
Compensation & Benefits
105
BIBLIOGRAPHY
Annual Report 2005, 2006.2007
www.jamunabankbd.com
Customer service
Credit Policy Jamuna Bank Limited
APPENDIX
AD Authorized DealerAWB Air Way BillBCC Branch Credit CommitteeBL Bill of LadingCC Cash CreditCCI & E Chief Comptroller of Import & ExportC & F Clearing & ForwardingCIB Credit Information Bureau
106
CLP Credit Line ProposalCRF Clean Report FindingsDD Demand DraftEPB Export Promotion BureauERC Export Registration CertificateEXP Form Export FormFCA Foreign Currency AccountFDR Fixed Deposit ReceiptHO Head OfficeHS Code Harmonic Symbolized CodeIBCA Inter Branch Credit AdviceIBCT Inter Branch Credit TransactionIBDA Inter Branch Debit AdviceICD Industrial Credit DivisionID International DivisionIMP Form Import FormIRC Import Registration CertificateLIM Loan Against Imported MerchandiseLTR Loan Against Trust ReceiptOBC Outward Bills for CollectionPAD Payment Against DocumentPO Payment OrderPRC Proceeds Realization CertificationSOD Secured OverdraftSSI Small-scale IndustriesSWIFT Society for Worldwide Interbank Financial
TelecommunicationTIN Tax Identification NumberTOD Temporary OverdraftUCPDC Uniform Customs & Practices for Documentary Credit
107
