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Letter of Transmittal
Date: 16.04.2014
Md. Sajjad Hossain
School of Business Administration
Uttara University,
Dhaka.
Subject: Transmitting the internship report on Financial
Incentives to motivate the junior employees
of Protection One (Pvt.) Ltd.
Dear Sir,
It is my pleasure to submit this internship report on the topic
Financial Incentives to motivate the
junior employees of Protection One (Pvt.) Ltd.
I have tried my best to analyze all necessary information
related to my topic and present as
affectionately as possible. It is not impossible that there will
be minor mistakes in this report. But
still I hope that this report will provide the appropriate
analysis on the topic of Financial Incentives
to motivate the junior employees of Protection One (Pvt.)
Ltd.
In conclusion, I want to express my thanks to you, as without
your co-operation it would barely
impossible for me to prepare this report related to my subject.
If you need any help to interpret
anything of this report, please let me inform.
Thanking you
Farjana Akther
ID: F20911111004
Major: HRM
School of Business Administration
Program B.B.A.
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Letter of Endorsement
The Internship report entitled Financial Investment to motivate
the junior employees of Protection One (Pvt.) Ltd. Has been
submitted to the office to fulfillment of the requirement for the
degree of Bachelor of Business Administration, Major in Human
Resource Management, Faculty of Business
Administration on 20th April, 2014 by Farjana Akther, ID:
F20911111004. This report has been
accepted and may be presented to the Internship Defense
Committee for evaluation.
(Any opinions, suggestions made in this report are entirely that
of the author of the report. The
University does not condone nor reject any of these opinions or
suggestions).
________________________________
Md. Sajjad Hosain
Lecturer
School of Business Administration
Internship Supervisor
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Acknowledgement
A lot of concentration, effort, responsibility and study have
been involved in preparing this paper
into reality. In preparing a report one needs a number
assistance and guidance from reliable sources.
This report also stands on the basis of such efforts. I have
pleasure to express my gratitude to the
internship and placement committee for arranging such a program
from which I have carried a lot of
practical experience.
At the very outset, I would like to express my profound respect
to my honorable teacher Md. Sajjad
Hosain, Lecturer of business faculty, who is my supervisor, of
Internship Program designed for the
BBA students. His continuous supervision has inspired me to make
a more feasible report based on
in-depth analysis.
In preparing the report, I received active co-operations from
the Marketing Officer, Senior
Marketing Officer and HRM department of Protection One (Pvt.)
Ltd. I sincerely express my heart-
felt gratitude to them for their Co-operation, which helped me
to conduct and complete this Report.
Those were frankly, dynamic and helped me seriously and given me
their valuable time during my
internship program. Some time I did interfere in their most
important work by asking many
questions for my internship purpose and they were very polite
and willing to answers my questions
with patience.
However, to my best I tried very hard and worked sincerely to
prepare this report an informative
one. At last, my sincere apology goes to the readers for my
conceptual & printing mistake, if there is
any.
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Executive Summary
In Bangladesh, the real estate business started in 1964.
Ispahani Group was the pioneer in this sector.
During 1970s there were fewer than five companies in Bangladesh
engaged in this business. But
now this is a booming sector of the company. Protection One
(Pvt.) Ltd. was started its journey in
1990. Protection One (Pvt.) Ltd is a market leader in the real
estate building & development sector.
Protection One (Pvt.) Ltd is our environmentally responsible
response to the rapid spate of
urbanization in Bangladesh. Pressures of urbanization in this
country are compounded by the
unfavorable land man ration. Protection One (Pvt.) Ltd. has
embarked upon a mission to make the
maximum use of minimum land being sensitive to both
environmental concerns and social
continuity.
Planned development by Protection One (Pvt.) Ltd. of the sites
around the city has added value to
those areas released pressure on inner cities and persecuted the
city dwellers with breathing space.
Protection One (Pvt.) Ltd. at Corporate Branch has currently 150
employees, including drivers &
peons. I have worked as an internship at Protection One (Pvt.)
Ltd. Corporate Branch from
05thFebruary 2014. Protection One (Pvt.) Ltd. is a fastest
growing housing company in Bangladesh.
In 2001, Protection One (Pvt.) Ltd. launched their first land
project at Purbail Protection One
City. That & project is now under process. Next, Protection
One (Pvt.) Ltd has recently launched
the mega project at Ashulia, Ashulia Abskash, Ashulia Barnali,
& Ashulia Kingdom. Protection One
(Pvt.) Ltd. participates on REHAB housing fair two times in a
year. In the fair we take a stole for
selling the plots. To make the sale successful the corporate
office always provides feedback to the
local office. We provide the brochures, maps, & other
accessories so that the sales team can easily
make their sales. Finally Protection One (Pvt.) Ltd. has
successfully established itself as one of the
leading real estate developments in Bangladesh with reputation
for a touch of class & dignity within
the reach of all class of people.
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Table of Content
Chapter No. Title Page
No. Letter of Transmittal.
03
Preface.
04
Acknowledgement.
05
Executive Summary.
06
Chapter 01
Orientation of the Report
Orientation of the Report
12-16
1.1 Background of the Study.
12
1.2 Methodology.
13
a) Primary source of data.
13
b) Secondary source of data.
14
1.3 Objective of the Study.
15
1.4 Scope of the Study.
16
1.5 Limitation of the Study.
16
Chapter 02
Introduction
Introduction.
18-20
2.1 Introduction of the organization.
18
2.2 Organizational Overview.
18
2.3 Vision.
19
2.4 Mission.
19
2.5 Features.
20
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Chapter 03
Strategic goals & objectives
3.1 Services.
21
3.2 Strategic goals and Objectives.
22
Chapter 04
Marketing Overview
Marketing Overview of Protection One (Pvt.) Ltd.
Bangladesh.
23-26
4.1 Potential Customers.
23
4.2 Competitors Analysis.
23
a) Management Committee.
24
b) Standing Committee.
24
c) Audit Committee.
25
d) Employment Relations Committee.
25
e) Management Committee.
26
Chapter 05
Human Resource
Management
Human Resource Management.
27-28
5.1 Human Resource Planning.
27
5.2 HR Practices of Protection One (Pvt.) Ltd. Bangladesh.
28
Chapter 06
Recruitment & Selection
Recruitment & Selection process of Protection One (Pvt.)
Ltd. Bangladesh.
29-30
6.1 Recruitment & Selection.
29
6.2 Employee Relation.
29
a) Employee safety.
30
b) Employee health.
30
c) Employee working condition.
30
Chapter 07
Job Analysis & Sample of Job Analysis.
31-33
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Job Analysis 7.1 Job Analysis.
31
7.2 Sample of Job Analysis
32
a) Quality control manager.
32
b) Cutting Astt. Manager (cum in-charge).
33
c) Environmental Considerations.
33
Chapter 08
Job Satisfaction
8.1 Employment Opportunity and Job Satisfaction.
34
8.2 Things Protection One (Pvt.) Ltd. does to attract top
quality
employees.
35
8.3 Duration and procedure of leaves at Euro Tech.
36
8.4 Salary and benefits.
37
Chapter 08
Incentives
Incentives.
38-40
8.1 Individual incentive plans.
38
8.2 Group incentive plans.
39
8.3 Company-wide incentive plans.
40
8.4 Individual incentives plan (Piecework plans).
40
8.5 Advantages & disadvantages of Incentive Plan.
40
Chapter 09
Training & Employee
Development
9.1 Training & Employee Development. 41
9.2 Management Development Training. 42
9.3 Overseas Training.
43
9.4 Field Forces Training & Development.
44
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9.5 Field Forces Refresher Course.
45
9.6 Territory Manager Training.
46
9.7 Distribution.
47
Chapter 10
Findings, Recommendation
& Conclusion
Findings and Analysis.
48
Recommendation.
49
Conclusion.
50
References.
51
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Orientation of the Report
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1.1 Background of the Study
Real Estate Companies are the key financial institutions that
play a vital role in the countrys
economy. Globalization in these sectors has thrown up
opportunities as well as challenges.
Competition is getting edge day by day. It paces with the
continuous development occurring in the
tremendous competitive environment.
To keep pace with this situation, we need this sector knowledge
for future career. If we want to build
our career in real estate area, only theoretical knowledge would
not help us. As internship program is
established to gather practical knowledge regarding various
sector of economy, I chose to get
practical knowledge regarding this sector and I select
Protection One (Pvt.) Ltd. as my organization
to work.
The duration of my program was nine weeks and during this
period, I have learned many things. I
observed that there is a great difference between theoretical
knowledge and practical knowledge. I
learned many terms, functions and nature of Housing activities.
I also get practical knowledge
regarding organizational environment.
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1.2 Methodology
A sample survey was conducted to collect primary data using two
pre-designed survey instruments
from concerned groups following an appropriate sample design. In
view of the complexities
involved in generating quantitative data for assessing the real
impact, qualitative data were also
collected using Focus Group Discussions (FGDs). In the context
of the unique features of the area an
attempt was made to identify the strengths, weaknesses,
opportunities and threats of the
organizations sector.
Data Collection
This study is mainly based on secondary data available from the
various divisions and departments
of Protection One (Pvt.) Ltd. , in addition to these other
necessary information have been collected
from the daily newspapers, relevant journals, annual reports of
Protection One (Pvt.) Ltd. , Web side
and publications of other relevant institutions have also been
taken into consideration.
Primary sources of data:
Face to face conversation with the industrial officers &
staffs.
Conversation with the clients.
Different manuals of Protection One (Pvt.) Limited.
Different circulars of Protection One (Pvt.) Limited.
Discussion with Industry Officers.
Personal observation.
Desk work in different sections/departments.
Secondary sources of data:
Procedure manual published by the Protection One (Pvt.)
Limited.
Files and documents of the branch.
Annual report of Protection One (Pvt.) Limited, 2011-2012.
Different papers of Protection One (Pvt.) Limited.
Unpublished data.
Different text books.
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1.3 Objective of the Study
The main objective of this study is to have some practical
exposures that will be helpful for my Final
year courses in the BBA Program.
To achieve the broad objective the following specific objectives
has been attained:
To find out the motivational procedure of junior employees of
Protection One (Pvt.) Limited.
To find the financial performance of Protection One (Pvt.)
Limited.
Analyzing the performance of the Industry.
To find out the different procedures of the Industry.
To know the competitive strength and weakness of the
Industry.
To know the marketing and expansion strategy that can help to
face the potential threats and
opportunities.
To find out the relations among the various department.
To make a bridge between the theories & practical procedures
of Industry day-to-day
operations.
To make possible recommendations for the internship organization
to improve the services &
service range so that the department can cater to the needs and
demands of customers.
1.4 Scope of the Study
This report will give us a clear picture about the marketing
strategy, customer satisfaction in general
& specially the overall human resource activities of
Protection One (Pvt.) Ltd. Bangladesh. The
scope of the study is limited to organizational set up,
functions, & performance.
The scope of this study is:
Maintaining a good relation between employees &
management.
Improving an effective work station design.
Effective marketing layout designing.
Efficient handling of employees.
Handling & setting the employees according to their
work.
Maintaining the link in effective manner.
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1.5 Limitations of the Study
Despite my sincerest endeavor in preparing a perfect report,
some of the limitations are inescapable.
These are as follows:
Within such a short period of time (nine weeks), it was not
possible for me to study
everything about Protection One (Pvt.) Ltd. Bangladesh.
The officers are so much busy that they cannot properly
co-operate with me, which are a
problem.
Companys policy of not disclosing some data and information for
obvious reason, which
could be very much useful.
To analysis SWOT of emerging market is a wide spread survey
material. However, time
constraint restricted the report to specific feature.
The study requires experience to be fruitful but it was
completely absent to me.
Sometimes the officials were reluctant to give proper
information regarding their
activities because they felt hesitation and ambiguity to give
data and information.
Lack of personal knowledge and experience.
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Introduction
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Introduction
2.1 Introduction of the organization
Protection One (Pvt.) Ltd is a market leader in the real estate
building and development sector. It
was started its journey in 1990. Every individual has a dream
home in mind. We at Protection One
(Pvt.) Ltd. are in the business of turning your dreams into
reality. Over the past quarter century
Protection One (Pvt.) Ltd. Luxury apartment and commercial
buildings though developing lands in
Dhaka city mostly located in Dhanmondi, Gulshan, Banani, Uttara,
Mirpur, Motijhil, Ashulia,
Chittagong , Coxs Bazar & Sylhet have changed the Dhaka,
Chittagong, & Sylhet skyline and
presented a new lifestyle.
Protection One (Pvt.) Ltd. is environmentally responsible
response to the rapid spate of urbanization
in Bangladesh. Pressures of urbanization in this country are
compounded by the unfavorable land
man ration. Protection One (Pvt.) Ltd. has embarked upon a
mission to make the maximum use of
minimum land being sensitive to both environmental concerns and
social continuity. Planned
development by Protection One (Pvt.) Ltd. of the sites around
the city has added value to those areas,
released pressure on inner cities and persecuted the city
dwellers with breathing space.
Professional team of design experts with mod outlook and
engineers with state of the art equipment
are backed by an R & D team constantly probing human habitat
horizons as well as building
technology. Their endeavors have resulted in the creation of
aesthetically inspiring architecture,
environmentally friendly development and top quality building.
Protection One (Pvt.) Ltd. aim is to
provide its clients with competitive price, quality materials,
& hand over project on time.Protection
One (Pvt.) Ltd. Bangladeshis the symbol of customer
confidence.
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Mission & vision of Protection One (Pvt.) Ltd
Protection One housings mission is both broad and focused. It
builds on its vision and translates the
essence of that vision into projects that respond to board
category of needs. Each of Protection One
housings activities however is characterized by the same
commitment to comfort and convenience.
2.2 Mission
The mission of Protection One (Pvt.) Ltd. Bangladeshis to
provide service at an economic cost &
progress in diversity & continue to the growth of real
estate sector in Bangladesh by being the real
estate market challenger.
2.3 Vision
The vision of Protection One (Pvt.) Ltd. is to offer
unparalleled service to create customer delight &
enhance real estate business. Their vision is to achieve
excellence & different sense of modern living
style.
2.4 Business Philosophy
Profit Maximization.
Cost Minimization.
Companys Wealth Maximization.
Create customer value & satisfaction.
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2.5 Features of every projects of Protection One (Pvt.) Ltd.
Bangladesh
The projects of Protection One (Pvt.) Ltd. are approved by
RAJUK.
The locations of Protection One (Pvt.) Ltd. are out of flood
free zone.
The project has natural greeneries.
The Park & playground in every block separately.
School, College, & University are included in the
project.
Protection One (Pvt.) Ltd. reserves 35% land for ecological
balance.
The location have eco-friendly environment.
The administrative office & CCTV surveillance facility
inside the project.
Police outpost, traffic system & fire service are available
inside the location.
Electricity, gas & water connection are available in site as
committed.
Telephone & internet service are connected in the
project.
Land is delivered according to the promised offered.
Registration is properly after full payment.
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INTERNSHIP POSITION
AND DUTIES
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3.1 Internship Period
In the internship period it is very important for any one where
practical experience gathered. I did
my internship program at Protection One (Pvt.) Ltd. Bangladesh,
Corporate Branch from
05thFebruary to 10th April 2014 the period of two month
internship program. I have learned many
things about their marketing strategy, recruitment policy,
employee satisfaction policy &customer
satisfaction policy. Working in Protection One (Pvt.) Ltd. I
feel as a part of their & every employee
on their helped me so much to understand the works easily.
3.2 Job Description
As an intern I engaged myself in different types of works which
are given bellow:
Potential client search: My main duty is client search, so at
first Im searching the clients
who are interested to buying the land & Flats.
Making calls to customers & introducing them about our
products: After searching the
client, Im calling my customers & introducing them about our
project & also invite to come
our office.
Ensure the visit of projects location: I convince the customer
to visit the project location.
Discuss with clients about the advantages & disadvantages of
buying the land: Then I
discuss with my customers about the advantages &
disadvantages of the land& Flats. I
discuss the main features of Euro Techs project.
Try to convince them to purchase the land: Im trying to convince
the customer to
purchase the land or Flat.
Making the agreements & get the booking amount: If the
customer is convinced, then Im
making the agreement & get the booking amount.
Payment collection system: Every customer payment system is not
same. Some customer
directly comes to company for payment & some customer pay
their payment by cheque.
Making calls to customers for giving the due amount: Every
customer is not pay full
amount of money. Most of the customer use installment. So Im
calling the customer for
giving the due amount.
Communicate with customer until the land has transferred: Im
communicating with my
customers until the land has transferred because of customer
satisfaction.
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3.3 Daily Routine
My department of internship program is under marketing &
sales department. So I was fully
involved in marketing & sales department. Every day I have
to go office at 9.00 a.m. like all other
employees & stay up to 6.00 p.m. Some days my work area is
in office & some days work was out
of office, in the field.
3.4 Learning Points
During the internship period in Protection One (Pvt.) Ltd.
Bangladesh, I have learnt lots of things.
These are listed below:
Communicate with the clients: Communicate with the clients over
phone &give feedback
them.
Deal with customer: Here I have learnt how to deal with
customer.
Communicate with general people: To complete internship in
Protection One (Pvt.) Ltd.
Bangladesh, Im learnt how to communicate with general
people.
Convincing the clients: Here I have learnt how to convincing the
clients to buy a plot.
High range of promotional activities required to make a good
consumer
Relation: Here I have learnt how to make a good relation with
customer.
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Human Resource Management
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5. Human resource management
5.1 Human resource planning
Protection One (Pvt.) Ltd. has a personal and administrative
Department. Protection One (Pvt.) Ltd.
is one of the biggest employers in Bangladesh. The total number
of employees is 1,223. For the
employees there is systematic in house training in home and
abroad. To motivate the employees,
along with salary and benefits the company provides various
facilities like free meals , free
transportation , 24 hour medical center , on site sports .
Production and accommodation facilities
include full time supply of safe drinking water, adequate
lighting and ventilation facilities from
sheet.
5.2 HR Practices of Protection One (Pvt.) Ltd. Bangladesh
Recruitment.
Training.
Performance Management.
Labor relation.
Employee relation.
Job analysis.
Job design.
Selection.
Development.
Incentives.
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Recruitment & Selection Process
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6. Recruitment and Selection process in Protection One (Pvt.)
Ltd.
Bangladesh
6.1 Recruitment & Selection
Recruitment is the process through which the organization seeks
applicants for potential
employment. Selection refers to the process by which it attempts
to identify applicants with the
necessary knowledge, skills, abilities and other characteristics
that will help the company achieve its
goals, companies engaging in different strategies need different
types and numbers of employees.
The strategy of a company is pursuing will have a direct impact
on the types of employees that it
seeks to recruit and selection.
Sources of recruitment
There are two kinds of source Protection One (Pvt.) Ltd. uses
for recruitment .They are
1. External source
2. Internal source.
I try to discuss all relative sources which are used for
recruitment in Protection One (Pvt.) Ltd.
Bangladesh.
Employee relation
Employers and employees each have their own sets of needs and
values, and successful relationship
between these two sides requires that some sort of balance be
struck. This balance often takes the
form of a psychological contract, an understood agreement
between employer and employees that
defines the work relationship. This contract with or without
support of a formal collective
bargaining, agreement influence the outcome achieve by each
side.
Protection One (Pvt.) Ltd. the various into three channel
categories those are:
1. Employee safety.
2. Employee health.
3. Employee working condition.
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1. Employee safety
Protection One (Pvt.) Ltd. provides the employee safety .It
ensure the all kinds of job safety such as
insurance of each employee not this it provide insurance to
them.
2. Employee health
Free medical checkup, provide health care and also provide
necessary medical facilities for each
employee.
3. Employee working condition
The working condition of employee is very hygienic Protection
One (Pvt.) Ltd. is ISO 9001-2000
Certified Company.
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Job Analysis
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7. 1 Job analysis
Job analysis is the procedure for determining the duties and
skill requirement of a job and the kind of
person who should be hired for it .The supervisor or HR
specialist of Protection One (Pvt.) Ltd.
normally collects one of the following types of information:
Work activities
First he or she collects information about the job actual work
activities such as marketing, sewing,
production. This list also include how, why and when the worker
performance each activity.
Education and qualification
Collects the information about education background and
qualification.
Experience
Experience must be needed for any job in Protection One (Pvt.)
Ltd. Bangladesh.
7.2 Sample of job analysis of Protection One (Pvt.) Ltd.
Bangladesh:
7.2.1 Quality control manager
Qualification
Master in any subject.
Bachelor/diploma in textile and clothing or related discipline
will be given.
Preference
Must have at least 7 years practical experience in similar
position in any organizations factory.
7.2.2 Cutting Astt. Manager (cum in-charge)
Qualification
Masters/ bachelor in any subject preferably commerce.
Bachelor/diploma in textile and clothing or related discipline
will be given.
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Preference
Must have at least 7 years practical experience in similar
position in any organizations factory.
Autonomy
Autonomy refers to the freedom and independence to plan and
schedule the work and determine the
procedures used to carry it out.
Task identity
Task identity means doing something from beginning to end rather
than just part of it.
Task significance
It is the degree to which a job has substantial impact on an
organization.
Feedback
Feedback is the degree to which employees can tell how well they
are doing based on information
from the job.
7.2.3 Environmental considerations
Social expectations
In designing jobs, the surrounding social expectations must be
considered to avoid possible worker
dissatisfaction.
Workforce availability
Job requirements should be balanced against the availability of
the people who are required to do the
work.
Autonomy
Autonomy refers to the freedom and independence to plan and
schedule the work and determine the
procedures used to carry it out.
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Task identity
Task identity means doing something from beginning to end rather
than just part of it.
Task significance
It is the degree to which a job has substantial impact on an
organization.
Feedback
Feedback is the degree to which employees can tell how well they
are doing based on information
from the job.
7.2.4 Environmental considerations
Social expectations
In designing jobs, the surrounding social expectations must be
considered to avoid possible worker
dissatisfaction.
Workforce availability
Job requirements should be balanced against the availability of
the people who are required to do the
work.
Work practices
Work practices are set methods of performing work. These methods
may arise from tradition or the
collective wishes of employees.
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Job Satisfaction
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8.1 Employment opportunities and Job satisfaction
Protection One (Pvt.) Ltd. views its people as the prime capital
of the Real Estate Sector. They
represent a world of opportunity, challenge and fulfillment.
This is a performance driven
organization, which believes that performance comes from
belongingness and ownership and they
always reward the performers in all aspects. Functional skills
development focuses on developing
& sharpening the technical skills of their people that they
may be the best-in-class in their areas of
expertise - technology, marketing, sales, finance, customer
analytics, strategy, human resource,
internal audit, regulatory & legal.
Protection One (Pvt.) Ltd. cares about their people and their
development. Here they will find
opportunities for continued education and training. The
organization is also working on the process
and strategies to empower their people through leadership
program. Protection One (Pvt.) Ltd. is
committed to help their people learn, develop & enhance
their functional skills, leadership
capabilities & personal effectiveness. Their leadership
development focuses developing leaders who
think before they act and act according to the values that the
organization embraces. Along with that
they run Group Accelerated Development Program and Opco
(Operating Country) Development
Program. They carefully design their training and development
activities keeping in mind the
industrys best practices.
Protection One (Pvt.) Ltd. Offers a market competitive rewards
package that is designed to make
employee feel as an integral part of the team and directly
involved in the company's success. Their
asset is their diversified workforce who is making the mark in
the industry to create a unique
workplace. Performance Management System (PMS) helps the
employee make the most of their
working life at Protection One (Pvt.) Ltd. Bangladesh. The
process supports the employees in
identifying and delivering against challenging goals that impact
the organization. It helps the
employee to plan how they will develop skills and leadership
behaviors for their current position and
for the years ahead. The company diversified workforce is the
main asset of their organization.
Protection One (Pvt.) Ltd. believes diversity is one of the key
factors for success in any organization
and hence they focus in this area consciously.
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8.2 Things Protection One (Pvt.) Ltd. does to attract top
quality
employees
It is HRs vision to handhold the company, be its strategic
partner, adding value in each step taken
towards making Protection One (Pvt.) Limited the Employer of
Choice. Protection One (Pvt.) Ltd.
engages their employees and inspires them to achieve
excellence.
8.2.1 They provide Exposure to Their Employees
Protection One (Pvt.) Limited recognizes the necessity to engage
with the educational institutions of
the country, as they want to be the Employer of Choice. They aim
to ally themselves with the best
private and public universities of the country. Sponsoring
career fairs and counseling sessions with
graduating students they impart a flavor of the corporate world
and provide the employees with an
exposure to best practices. This helps them in procuring the top
students by inviting them to their
internship program.
8.2.2 They Enhance Their Employees
Euros policy is to hire the best talents in the job market and
groom them to perform even better. The
organization robust Performance Management System aids in
identifying their talent, assessing their
employees skill set and providing development initiatives in
form of training and job rotation.
Employees are evaluated which uphold their transparency.
The Performance Management System helps identify areas of
improvement for each employee.
Their Competence Development Unit does a training need analysis,
coming up with a calendar of
training sessions that focus on the areas identified for
improvement. Thus, they equip their
employees with the required skills to achieve and enhance in
their career.
They recognize the passion to perform in their employees. The
group to be groomed into future
leaders nurtures the top performers of the company. The Group
Accelerated Development Program
serve as a breeding ground for future leaders, giving their
managers international exposure and
propping them for global challenges where the employees would be
given opportunities to serve an
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Operating Company within the Protection One (Pvt.) Ltd.
Bangladesh. Moreover, the company also
arranges for job rotations and assigns employees to projects so
as to create breath to their careers as
well. Such initiatives inspire employees to be creative and take
ownership of responsibilities.
8.2.3 They Empower Their Employees
At Protection One (Pvt.) Ltd. Bangladesh, they empower to share
their voice. Their introduction to
CXO chat and blog sites provides the platform for employees to
be heard. Moreover, their Employee
Satisfaction index survey gauges the opinion in areas, which
concern working environment and
cultural issues. They respect the opinion of their employees and
strive to accommodate their views
so as to ensure a conduced work environment that thrives with
passion and facilities performance.
Moreover, they are particularly attentive to equipment
requirements. Their employees are provided
with necessary computers, phones and Internet connection so that
the employees are connected to
the world for professional needs and personal ease.
8.2.4 They Enrich Their Employees
At Protection One (Pvt.) Limited, they aim to enrich the lives
of their employees with targeted
benefit packages that take off the burden of personal
obligations. The benefits are designed in a
manner to exemplify their concern for their employees well-being
not only in terms of life, but also
in terms of living standard. Child support, determined
hospitalization costs, transportation are few
examples of benefits they provide.
8.2.5 They Ensure Their Employees
Maintaining the highest ethical standards and integrity in their
operations is a crucial factor at
Protection One (Pvt.) Ltd. Bangladesh. Therefore, the company
has introduced their Guiding
Principles that is they expect their employees to embed in his
or her mind and upholds in ones
responsibility. Their code of Ethics safeguards their ethical
standards by clearly defining their way
of working. With such systems in place they ensure that they do
business with a conscience and
safeguard their employees from exploitation.
It should be noted that all their employees are obliged to sign
a Letter of Understanding (LOU) after
reading the Code of Ethics. They expect their employees to
exemplify the
Guiding principles in their work and regulate their actions by
the stipulations in Code of Conduct.
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8.3 Duration and procedure of leaves at Protection One (Pvt.)
Ltd.
Bangladesh
8.3.1 Annual Leave
Management Annual Leave Entitlement
General Manager 25 Working Days
DGM & AGM 22 Working Days
Senior Manager 20 Working Days
Manager 18 Working Days
Assistant Manager 16 Working Days
Executive 14 Working Days
Non-Executive 14 Working Days
50% of the entitlement of the annual leave can be accumulated or
carried forward to the next service
year and rest can be lapsed if not availed.
8.3.2 Medical Leave
Employee medical leave is entitled for 14 days for all level of
executives. Employee must have to
produce medical certificate for medical leave. There is no
provision of accumulation of medical
leave.
8.3.3 Quarantine Leave
Quarantine Leave is leave of absence from duty necessitated by
orders not to attend office in
consequence of the presence of infectious diseases in the
person, family or household of an
employee. The authority up to maximum grants such leave 15
working days. However, the employee
concerned has to submit a medical certificate from a registered
medical practitioner.
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8.3.4 Accident Leave
Employees who get injured by an accident occurred while on duty
is allowed Accident Leave with
full pay for the period required for full recovery and become
fit to join duties. If the accident causes
partial or full disablement and the joining to duties is
uncertain, then Management is going to decide
on accident.
8.3.5 Maternity Leave
A female employee who has been employed for period of not less
than ninety days during the nine
months immediately preceding her confinement shall be granted
ninety consecutive days maternity
leave on full pay. Maternity leave shall be granted after
twenty-eight weeks of pregnancy and
application for maternity leave shall be made not less than two
months prior to date on which it is
desired that the maternity leave shall commence. Such
entitlement applies for two times during her
service with the company.
Leave on account of miscarriage prior to the twenty-eight week
of pregnancy shall not be considered
as maternity leave as medical leave.
8.3.6 Paternity Leave
Male employees are entitled for three working days paternity
leave. One employee can avail
paternity leave up to two times during his tenure.
8.3.7 Compassionate Leave
Employees are entitled for three working days compassionate
leave in case of death of their parents,
spouse and children to cope up with the shock.
8.3.8 Hajj Leave
Only permanent employees (service length minimum 2 years) can
take Hajj Leave of 20 consecutive
days (including holidays) for Holy Hajj with prior approval of
the Management. An employee can
avail Hajj Leave once in his or her service tenure with
Protection One (Pvt.) Ltd. Bangladesh.
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8.3.9 Leave without Pay
The company may grant an employee, at its discretion, no pay
leave on important personal ground
upon approval of the divisional head, provided that the employee
has exhausted his or her annual
leave. Functional Heads are responsible to approve for such
leave depending on the circumstances
8.3.10 Compensatory day-off
An employee when required to work on any weekly holiday or govt.
holiday shall be given a
substitute day off which should be taken within one month of
that date or will be forfeited.
Employees may take day off leave instead of any weekly or
Government holiday if he or she works
on that day for at least eight hours in one day. The leave must
be taken within the following month
and necessary documents (attendance register) must be produced
for the approval. On the other
hand, the employees will not be entitled for day off leave if
they take holiday allowance for the day.
8.3.11 Encashment of annual leave
If any employees leave application is rejected for two times in
a year, he or she is eligible for
applying for the leave encashment up to a maximum of ten days.
The encashment is based only on
Basic salary.
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8.4 Salary and benefits
Monthly salary is transferred to employee individual salary
account each month with other
allowances less deductions such as income tax, contributory
provident fund etc. Each employee
receives a monthly pay statement detailed gross pay and
deduction. The Gross or Average amount of
employees in various Grades are given below:
Position Grade Amount
MD / CEO 32 Confidential
Chief Officers (CTO, CMO , CFO) 27 Confidential
General Manager 26 Confidential
Assistant General Manager (AGM) 25 250,000
Senior Manger 24 200,000
Manager 23 150,000
Deputy Manager (DM) 22 90,000
Senior Assistant Manager / Senior Engineer 21 60,000
Assistant Manager / Engineer 20 50,000
Senior Executive / Engineer 19 45,000
Executive / Assistant Engineer 18 40,000
Executive/Assistant Technician 17 35,000
Allowance
Allowances are paid with monthly take-home salary, namely house
rent, medical conveyance and
utility.
Festival Bonus
Protection One (Pvt.) Ltd. usually awards two bonuses in a year
on occasion of Eid or Christmas as
Festival bonus. The amount is normally equals to the basic
salary.
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Other Variable Bonus
Protection One (Pvt.) Ltd. offers other variable bonuses like;
performance bonus (related with
individual performance) and company performance bonus (special
bonus for company performance
or success) to the employees.
Soft Furnishing Allowance
This allowance is paid as a part of house maintenance of the
staffs. Only executive and above
(permanent) are entitled for the allowance. This allowance is
paid on yearly basis at the end of the
year.
Job Level Yearly Allowance (Tk)
Top Management 20,000
Senior Management (DGM & AGM) 15,000
Manager 8,000
Assistant Manager 6,000
Executive 4,000
Overtime Allowance
Only Executives (Grade 17,18,19,20 and 21) and Non- Executive
(Grade 1,2,3,4 this grade involves
Building Assistant) are eligible for overtime. Maximum ceiling
for overtime is 48 hours in a month
(except Grade 1 and 2).
Salary Review
Salary is reviewed periodically with consistent with the living
standard and competitive salary
package offered by other multinational organizations as
Protection One (Pvt.) Ltd. claims.
Provident Fund and Gratuity
The contribution in Provident Fund is 10 % of the basic salary
from both sides, employee are eligible
for company contribution after five years of membership of the
fund. Employee is also entitled to a
gratuity payment.
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Group Life Insurance
Protection One (Pvt.) Ltd. management has approved a group life
insurance policy under which,
death, permanent partial disability and permanent total
disability are covered. Moreover, the insured
amount for life is 36 times gross salary.
Child Birth Benefit
All regular employees are entitled for Child Birth Allowance as
per stated below:
Manager and above: (Both employee and spouse) Tk 15,000 per
delivery
Assistant Manager and below: (Both employee and spouse) Tk
10,000 per delivery.
Hospital Fund Policy
All employees are entitled for the benefit (all permanent
employees and their families, all
probationers and their families and all contractual employees
and their families including Non
Executives) as per the level of emplacement or Grade. (Family
means spouse and children up to 25
years old). An employee can claim for two-hospitalization cost
per year. An employee should take
prior approval from the Head of Human Resources in writing in
advance of any pre-planned
hospitalization. In case of emergency the employee is ask to
inform the Human Resource,
Immediately.
Hospitalization expense includes:
Consultation fees while admitted
Investigation expense (ECG, X-Ray, MRI, CT Scan etc) while
admitted
Artificial limbs, eyes, casts, braces and crutches
Post hospitalization physiotherapy up to two sessions
Rental or wheel chair or hospital bed, if advised by
physician
Ambulance service to and from the hospital
Treatment by Radiotherapy or Chemotherapy
Two follow up visits after discharge from hospital
Accommodation Allowance
An employee who is required to travel out station on company
business beyond a radius of 33 Km
from his office (within Bangladesh) and requires a stay of 24
hours or more shall be entitled for
following claims
a) Hotel Rental
b) Rental without Receipts
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Incentives
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10. Incentives
Compensation fluctuates according to:
A pre-established formula
Individual or group goals because group goals are different from
individual goals
Company earnings.
An incentive adds to base pay.
It controls costs because the employee is being paid for his/her
extra effort and for the benefits
brought to the organization.
Motivates employees.
Incentive Pay Categories.
Individual.
Group.
Company-wide.
10.1 Individual incentive plans
Quantity of work output (How many units produced)
Quality of work output (What was the quality of the product or
service being produced or
served)
Monthly sales (How much sales was generated)
Work safety record (How many hazard or errors are being
reduced.
Work attendance (If the absent is reduced or attendance is
good)
10.2 Group incentive plans
Customer satisfaction
Labor cost savings
Materials cost savings
Reduction in accidents
Services cost savings
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10.3 Company-wide incentive plans
Company profits
Cost containment/prevention
Market share
Sales revenue
10.4 Individual Incentive Plans (Piecework plans)
Awards based on individual
production vs. company standards
Awards based on individual
performance standards using
objective & subjective criteria
Quantity and / or quality goal
10.5 Advantages and disadvantages of Individual Incentive
Plan
Advantages
Helps relate pay to performance
Promotes equitable distribution of compensation
Helps retain best performers
Compatible with individualistic cultures and societies
Disadvantages
May promote inflexibility
Unrealistic standards may hamper employee motivation
Setting performance standards is time consuming
Factors beyond employees control may affect outcomes
Factors not rewarded may be overlooked
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Training & Employee Development
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Training & Employee Development in Protection One (Pvt.)
Ltd.
Bangladesh
Their Training & Development enables their people to enhance
their employees skills, keep them
updated with recent changes. They offer both on-the-job and
off-the- job at both theoretical and
practical training opportunities through a range of Local,
Regional and International Training
programs that include both functional and managerial levels on
the basis of Training Need
Assessment. Training Need Analysis (TNA) is conducted by
Department Heads and Human
Resource Department jointly on the basis of job analysis.
Management Development Training
Round the year, management development training is organized for
managers & executives at their
Corporate Headquarters, Dhaka Unit & Pabna Unit. Their own
and renowned resource persons from
home & abroad conduct the training sessions. They also send
their employees to renowned local
training institutes for specialized training.
Overseas Training
They send their employee to abroad for training program
depending on availability of appropriate
topics. Technical persons of their factories attend the Factory
Assessment Test (FAT) in various
parts of the world for smooth operation of equipments.
Field Forces Training & Development
Each year, a significant number of Field Forces complete their
induction training program and joined
to their respective markets and appear at examination in every
month for further development.
Field Forces Refresher Course
For updating product knowledge and selling skills of field
forces, Refresher Course is organized in
four different regions in every month.
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Territory Manager Training
Twice in every year, mid-level managers of sales participate in
the training program titled Sales
Territory Management at a regular basis.
Distribution
Every year a number of Distribution Assistants (DA), Data Entry
Operators (DEO) go under
induction training program immediately after initial
recruitment. Each month, Refresher course for
DA, Driver and Packers is organized in two different depots for
updating their knowledge.
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FINDINGS, RECOMMENDATION AND CONCLUSION
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Findings and Analysis
Protection One (Pvt.) Ltd. is one of the most successful Real
Estate Company in Bangladesh. It has a
very mature Human Resource Department. It follows clear set of
rules to run the HR Department.
Their employee recruitment and selection process, skill
development process, employee-employer
relationship is up to the standard. While making this report I
saw few lacking in different aspect,
which Are:
While recruiting from inside Protection One (Pvt.) Ltd. doesnt
give a circular to the
employees.
This organization just discusses among the managers and decides
on the position. The
employees get no chance to express their will to join get
particular position, at least a chance.
To us, this is a problem which needs to be rectified because
everybody deserves a fair
chance.
According to a HR Manager Imran Islam, most applicant get
nervous while the interview.
So, many of them cant perform to their potential. It is a very
bad thing forProtection One
(Pvt.) Ltd. Bangladesh. The Organization also doesnt try to make
the applicant comfortable
in the interview.
Even though Protection One (Pvt.) Ltd. offers a broad spectrum
of training and
development programs there are very few opportunities to enjoy
them.
The jobs need to be done are very much repetitive, tedious and
most of the time employees
need to work for usual office hours. Boredom usually leaves few
spaces the employees to
enjoy on the training programs.
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Recommendation
To overcome this internal recruiting problem what we suggest is
a redesign of their internal
selection process of Employee. It is because everybody should
have a fair shot at the vacant
position.
The first thing the organization has to do after a position is
vacant is that it should give an
inside circulation to call for application from the employees.
The employees have to be
notified about the vacancy. This can be done through sending an
e-mail or letter, which they
already have. The best way would be to post a notice on the
office notice board beforehand.
This way the organization would have done the best it can do to
get the best employee from
the organization. Even after that if some qualified person
doesnt apply then its the
employees who missed the chance.
Sometimes while selecting from inside, there is a potential
chance of any kind of favor. This
thing has to take care of. The screening of the application
should only be on the basis of
qualification, nothing else.
The interview should be proper and formal. The organization
shouldnt take it easy because
its the employees giving interview. Any kind of negligence could
lead to a potential wrong
decision, which may harm the company for a very long time.
Taking the advantage of technological improvement the
organization can share moreinformat
ion and thus upgrade training and development process. Moreover
thecompany need to be
aware not only about developing more training techniques but
also about ensuring that
employees have enough time to enjoy them. The organization
should provide the employees
a flexible work schedule.
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Conclusion
Protection One (Pvt.) Ltd. is a way ahead in terms of its
business, strength, vision, management
services, and human resources. It works in the most advance way
possible in all their activities that
make it easy for them to achieve their desired goal with a less
effort. For Protection One (Pvt.) Ltd.
to flourish in the country, coordinated effort has been made by
all its departments. Not to mention
HR department among them outstands in all respects. They are
always ahead of current thinking
with new practices, concepts and management techniques.HRM
department operates at the center of
the business, managing the dynamic people, policies and
practices. Skills and competence are
ensured to align with that of corporate objectives.
The organization is trying to be very flexible and is capable of
adjusting to any change
whatsoever. This is very important for any organization to
operate successfully in Bangladesh,
where many strong competitors are present. Protection One (Pvt.)
Ltd. establishment and success
with the HR department has greatly contributed to a highly
motivated labor force compare with other
companies. The organization is trying to establish a flexible HR
system, so that top management can
constantly stay updated concerning the performance level of
their respective personnel. They
are trying to develop effective and morale boosting compensation
packages. The company's
employees are very willing to accept changes.
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References
Annual report of PROTECTION ONE (PVT.) LTD of 2009.
Annual report of PROTECTION ONE (PVT.) LTD of 2010.
Annual report of PROTECTION ONE (PVT.) LTD of 2011
Frazer, Lyn m. And omission Aileen understanding financial
statements, 6th edition, 2001
prentice hall of India.
Khan, m y and join pk, financial management, 3rd edition,
2002,Tata McGraw- hill.
Brigham, Eugene f and Houston Joel fundamental of financial
management, 4thdition, 2004,
Thomson.
Ross, Stephen a, Wethersfield, Randolph a, and Jordan, Bard ford
d, fundamentals of corporate
finance, 6th edition, 2003, Tata McGraw-hill.
Davis, Keith and Newstrom, John W. (1997) . Organizational
Behavior: Human Behavior at
Work. 11th Edition Pp 208-210. McGraw-Hill, New York.