Internship Report On Employee Performance Appraisal A Study on IFIC Bank Ltd.(part 1)

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Internship Report

On

Employee Performance Appraisal

A Study on IFIC Bank Ltd.

Under the Supervision of

Dr. Swapan Kumar Bala

Professor,

Dept. of Accounting & Information Systems,

Faculty of Business Studies,

University of Dhaka

Prepared By

Mumtaheena Anwar

ID # 15 141, Section-B, Batch-15th, BBA

Department of AIS, University of Dhaka

February 25, 2013



Letter of Transmittal

February 25, 2013

Dr. Swapan Kumar Bala

Professor,

Department of Accounting & Information Systems,


University of Dhaka.

Subject: Submission of Internship Report.

Sir,

I have the honour to state that, I prepared this report titled Employee Performance Appraisal:

A Study on IFIC Bank Ltd.as a partial requirement of BBA degree under internship program

continuing from January 01 to February 17, 2013.

I have tried to put my best rigor in preparing this report and hope that the following pages will

live up to your provided instructions and expectation. Your feedback will help me further to

enrich my experience in preparing other course feasible studies.

In case of any further clarification where you require elaboration on any issue that seems to be

inadequately explained, I shall be glad to oblige.

Sincerely Yours,

Mumtaheena Anwar

ID # 15 141, Section-B,

Batch-15th, BBA,

Department of AIS,

Faculty of Business Studies

University of Dhaka.



Certificate of Supervisor

This is to certify that the extensive report titled Employee Performance

Appraisal : A Study on IFIC Bank Ltd.is prepared as partial requirements for

the award of the degree inBachelors of Business Administration (BBA) fromthe Department of Accounting Information Systems of University of Dhaka By

Mumtaheena Anwar, ID # 15141, Batch 15th

under my direct supervision and

guidance.

No part of this report has been submitted for the award of any other degree/

diploma/fellowship or other similar designation.

Dr . Swapan Kumar Bala

Professor,Dept. of Accounting & Information Systems,


University of Dhaka



Acknowledgement

It is my great pleasure to express my deepest gratitude and humble submission to the almighty

Allah but for whose support I would not be able to complete a huge task of preparing this

Internship Report within the scheduled time.

I would like to take the opportunity to express my gratitude to my Internship Advisor, Professor

Dr. Swapan Kumar Bala whose sincere direction, guidance and support helped me a lot in

writing this report.

I would like to thank my friends who provide me with vital suggestions for preparing this

Report.

My deepest appreciation and special thanks goes to the A.H.M Kamal, Vice President, HR dept.

of IFIC Bank Ltd. for extending his support and valuable advices in compiling this report. Lastly

I am thankful to the all the personnel of HR department of IFIC Bank, Head Office, Dhaka for

their sincere cooperation.

Mumtaheena Anwar



Abstract:

uman resource management is one of the major activities carried on by an organization.

With the advent of time the decision making authorities are realizing that to remain

competitive in this dynamic business world, a qualified, efficient workforce is required a

workforce that would not only carry out orders taken by superiors but can be equally efficient in

taking proper decision as the situation demands. To achieve this goal, role of the employee and

employee management process need to go through a great change. Most important of all is EPA

system how the employees are being evaluated for their assigned task. This report is intended

to provide an overview of EPA system with an extensive study on the EPA system of IFIC Bank.

IFIC Bank is one the first-generation commercial banks in Bangladesh. Incorporated in 1976,

this bank has now 108 branches all over the country, with 2 associates IFIC Securities and

Oman International Exchange. This report has shed light on the important features of this Bank

with special emphasize on vision, mission, core values, management structure, human resource

management.

EPA is theformal system of review and evaluation of individual or team task performance. IFIC

Bank has used ACR method for a long time for its EPA. But due to certain limitations of this

method, the Bank has very recently shifted to MBO method. This method is adopted with the

intention to get certain benefits. This method ensures employee participation in every step of

EPA. It provides employee motivation by inflicting on them confidence, belongingness and self

worth.

EPA process using MBO method starts with the setting goal in an interactive way and through

certain distinctive well-defined steps reaches to the end step of Approval by supreme authority.

Employee performance is evaluated on the basis of certain predefined factors and with

comparison to target set.

Implementation of MBO method has some weaknesses that can hider the effectiveness of the

method likelack of qualified personnel, lack of proper training and such. Through this report I

tried to suggest some policy recommendations that might be helpful to cope with the problem

faced.

H



List of Acronyms:

EPAEmployee Performance Appraisal IFIC BankInternational Finance, Investment & Commerce

Bank

MBOManagement by Operation ACRAnnual Confidential Report HR Human Resource BBA Bachelor of Business Administration CEOChief Executive Officer MDManaging Director DMD Deputy Managing Director BAMLCOBranch Anti-Money Laundering Compliance ATM Automated Teller Machine



Table of Contents:

Title Page no.

1.0 Introduction

1.1 Background of the study 02

1.2 Statement of the Problem 02

1.3 Objective of the Study 02

1.4 Rationale of the Study 03

1.5 Limi tation of the study 03

2.0 Methodology

2.1 Type of Study 05

2.2 Data Collection Procedure 05

2.3 Data Analysis Techni que 06

3.0 Overview of IFIC Bank

3.1 Background of I FI C Bank Ltd. 08

3.2 Vision of I FI C Bank Ltd. 08

3.3 Mission of I FI C Bank Ltd. 08

3.4 Goals & Objectives of I FIC Bank L td. 09

3.5 Core Values of I F IC Bank L td. 09

3.6 Management Structur e 10

3.7 Human Resour ce 13

3.8 Branches & Associates 13

3.9 Technology 14

3.10 Mi lestones of I FIC Bank 14


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4.0 Performance Appraisal :A Conceptual Study

4.1 Defin iti on 174.2 Objective of Perf ormance Appraisal 17

4.3 Benef its Of Appraisal 17

4.4 Who conducts the appraisal and When 18

4.5 Data Collection Method 18

4.6 Process of Performance Appraisal 20

4.7 Perf ormance Appraisal Methods 21

5.0 Findings & Analysis

5.1 Authoritative Body for EPA in I F IC Bank Ltd. 25

5.2 EPA Review Committee in IFIC Bank L td. 25

5.3 Previous EPA Method-Annual Conf idential Report (ACR): 25

5.4 Limi tations of ACR 26

5.5 Current M ethod- MBO Method 27

5.6 Advantages of MBO Method 27

5.7 EPA Process of I FIC Bank Ltd. 28

5.8 EPA Evaluation Process of I F IC Bank Ltd. 43

5.9 Variations in Appraisal Process in I F IC Bank L td 46

5.10 Automation in EPA system in I FIC Bank L td. 47

5.11 Weaknesses of the existing EPA 48

6.0 Conclusion & Recommendations

6.1 Summary of Major F indings 50

6.2 Policy Recommendations for Improvement of EPA of the Bank 51

6.3 Concluding Remarks 52

References

Documents

Internship Report On Employee Performance Appraisal A Study on IFIC Bank Ltd.(part 1)