Performance Management

Course Title: Performance Management System

Course Code: HRM-406 Evaluating Performance Management Process‘‘ A Presentation on private Commercial Bank(IFIC) of Bangladesh ” Group: 01; B.B.A Program (23rd Batch) Eastern University (EU), Dhaka Submission Date: 03/30/2014

Wednesday, April 09, 2014

1

Prepared By: Group Members Name

ID NO :

Md.Nazrul Islam

ID No: 103200029

Sazzad Hussain Tazu

ID No: 103200047

Hafijur Rahman

ID No: 103200030

Thufil Al Imran

ID No: 103200103

Subrata Paul

ID No: 102200079

Course Code: HRM-406; section: 01 Prepared for: Ms.Tasnuva Rahman Assignment Professor

Faculty of Business Administration Wednesday, April 09, 2014

2

performance management Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner.

Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product of service, as well as many other areas. PM is also known as a process by which organizations align their resources, systems and employees to strategic objectives and priorities

Wednesday, April 09, 2014

3

Objectives of the study  A report must have some objectives. In this report have also some specific objectives. These objectives are divided into two parts.  Broad objective 

To evaluate the Performance management process of IFIC Bank Ltd.

Specific objectives  To identify the performance management process steps and action of IFIC bank Ltd.  To correct poor performance  To sustain good performance and to improve performance

Wednesday, April 09, 2014

4

Uses & Objectives Of Performance Management System Internal employee relation

Compe nsation & reward.

Trainin g & dev.

Wednesday, April 09, 2014

Human Resource Planning

Objective s of perform. Mgt. sys.

Feedback , motivatio n& developm ent.

Recruit. & selectio n

Person n-el Decisio ns

Career planning & dev.

5

Methodology  A descriptive study design is one in which your primary goal is to assess a sample at one specific point in time without trying to make inferences or causal statements.

In general, there are three primary reasons to conduct descriptive studies:  To identify areas for further research.  To help in performance Management process in an Organization (needs evaluate the performance).  To provide informal information about a condition of a performance management.

We’ll discuss two(2) types of descriptive studies  Key Performance Indicator (KPI): Helps in collecting data by overall performance yearly as error rates, time spent, number of work units completed, full fill achieve the organization target etc.  Online Evaluation & Appraisal software: It is done for multi – rater or 360 degree feedback where the e –mail messages for evaluations.

Wednesday, April 09, 2014

6

Rationale of the study Human resource is one of the most important assets and a part of the organization concerned with the „people‟ dimension.  As jobs in today’s dynamic organizations have become more complex and challenging, the importance of employee education and performance is increasing.  Every organization needs to have well adjusted, Trained and experienced people to perform activities in order to achieve organizational goals. When jobs are simple, easy to learn and influence only a small degree of technological change, there is little need for employees to upgrade or alter their skills. In organizations, such up gradation occurs through employee training program and evaluate the performance of employee.

Wednesday, April 09, 2014

7

About the private Commercial Bank(IFIC) Through it has 62 branches all over the country; it is performing banking activities very successfully. To mobilize funds from surplus units and deploy funds to deficit units, the bank is playing a great role in the economic development of the country.

International Finance Investment and Commerce Bank Limited (IFIC Bank) is banking company incorporated in the People’s Republic of Bangladesh with limited liability.  It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a fully fledged commercial bank.

Wednesday, April 09, 2014

8

Corporate Mission  IFIC mission is to provide service to our clients with the help of a skilled and

dedicated workforce whose creative talents, innovative, actions and competitive edge make our position unique in giving quality.  Service to all institutions and individual that we care for. We are committed to the welfare and economic prosperity of the people and the community.  For we drive from them our inspiration and drive for onward progress to prosperity.  We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in regional banking operating beyond the national boundary.

Corporate Vision: To be the best private Commercial Bank In Bangladesh and International in terms of Efficiency .  capital adequacy asset quality sound management and profitability having Strong liquidity. Wednesday, April 09, 2014

9

Performance Management Process: 1.Prerequisites •Strategic planning. •Job analysis. 2. Performance Planning

•Employees must have thorough knowledge of the performance management system. •Meeting between employee and manager. •Set SMART goals and measurement standards: •Results. •Behavior. •Developmental plans. •Practice writing SMART performance objectives: •S – Specific. •M – Measurable. •A – Attainable. •R – Realistic. •T – Timely. Wednesday, April 09, 2014

10

Performance Management Process: (Cont.)

3. Performance Execution : •Shared responsibility •Employee responsibility: >Commitment to established goals. >Communication and update with manager. •Manager responsibility: >Feedback, coaching and reinforcement. >Resource support. >Accurate observation and documentation. 4. Performance Assessment and Appraisal : •Who should appraise? •Supervisors. •Peers and team members. •Subordinates. Wednesday, April 09, 2014

11

ACTIVITIES OF Performance Management in IFIC Bank:  Performance management has a significant role in IFIC Bank and must be

forward thinking. They must take the lead in assisting good achievement with the "Employee evaluating" component of the organization: Under the guidance of HRM, employees of an organization can assist it in gaining and maintaining a competitive advantage. Attracting and maintaining such employees require: HRM of IFIC Bank to have policies and practices that such employee’s desire. HRM of IFIC Bank will also recommend and implement changes regarding where necessary. Human resource management has its focus mainly on balancing the needs, goals, objectives and values of both employers and employees.

Wednesday, April 09, 2014

12

Results and Analysis of the Report •IFIC Bank gives the online evaluation form yearly only in the bank database software. •The KPI of IFIC bank lacks certain information. These are: Key responsibilities of the job and duties; Evaluate the job and employee performance biasness freely. •For promotion the management of the bank follows the performance record and in some cases they follow the seniority rule. like educational background & etc. •The analysis shows that most of the employees of IFIC bank Ltd performance management are a better to achieve the organization's goals. •These banks do not conduct adequate software-based evaluation of performance for their employees. But to cope with the modern banking system software-based training and performance analysis is very essential for the employees of the bank.

Wednesday, April 09, 2014

13

Performance Development of the employees  Developing in this instance means increasing the capacity to perform through training program, giving assignments that introduce new skills or higher levels of responsibility, improving work processes, or other methods. Giving them appropriate training sessions should develop those employees who have failed to give desirable results. Performance development plans should be made in order to improve employees overall performance.

DATA ANALYSIS Large amounts of data were gathered and this presented challenges in data analysis as we tried to identify significant patterns and trends and reduce the volumes of information into coherent framework.  We managed to overcome these challenges by simultaneously analyzing data during data collection. The data collected through questionnaires was qualified and analyzed to generate information of certain responses Thus the use of software supplemented data analysis methods discussed above and enabled the researcher to undertake quantitative data analysis. Wednesday, April 09, 2014

14

Recommendations •IFIC Bank may use popular performance management KPI (key performance Indicator) software or updated the evolution procedure. •HR unit of the bank may add more information about the performance management like some essential document that any applicant understands about it. •The authority of the bank first may check the employee performance and educational qualification. • Then they may consider a promotion for qualification, skill, knowledge, abilities, smartness, intelligence etc. Wednesday, April 09, 2014

15

Conclusions There are a number of Private Commercial Banks, Nationalized Commercial Banks and foreign Banks operating their activities in Bangladesh. The IFIC Bank Ltd. is one of them.  For the future planning and the successful operation for achieving its prime goal in this current competitive environment this report can be helpful guideline.

Majority of employees in IFIC bank Ltd are well aware about the Performance Management system. The employees have a complete idea about the various aspects of Performance Evaluation in the company except those elements which are kept confidential. A large group of employees want the appraisal to be done half yearly for better performance throughout the year.

Wednesday, April 09, 2014

16

Evaluating Performance Management Process of IFIC-

Tables Performance Rating

*Percent Award

Outstanding

-

Above Expectations

-

Meets Expectations

-

Needs Improvement

-

Performance Rating

Target Spread Percentage

Outstanding

5

Above Expectations

25

Meets Expectations

65

Needs Improvement

5

Wednesday, April 09, 2014

17

Thank You For All Staying With Us

Any ?????????

Wednesday, April 09, 2014

18

Wednesday, April 09, 2014

19