Letter of Transmittal

Date
Mr. Tanzilur Rahman,
Assistant Professor,
Department of Business Administration
Leading University, Sylhet
Subject: Submission of project report on Recruitment and Selection Process in Non Banking
Financial Institution(NBFI), A Case Study on United Leasing Company Limited, Sylhet Branch
Dear sir,
It is my pleasure to submit the report on Recuitment and Selection Process in Non Banking Financial
Institution(NBFI), A Case Study on United Leasing Company Limited, Sylhet Branch
I have enjoyed and learned a lot in preparing this report which enriched my practical knowledge of the
theoretical concept. I tried to reflect the practical operational aspects of the organization which is
complementary to the theoretical lessons.
It has been a great pleasure and experience while I was conducting the report. It would be my immense
pleasure to furnish you the same on situational method.
Sincerely Yours
.
Shahriar Ahmed Chowdhury
MBA
ID: 1102010713
School of Business Studies
Leading University,

Supervisor's Certificate
This is to certify that a project report on " Recruitment and Selection Process in Non Banking
Financial Institution (NBFI), A Case Study on United Leasing Company Limited, Sylhet Branch "

prepared by Shahriar Ahmed Chowdhury ID-1102010713, Major in Human Resource

Management, Department of Business Administration, Leading University as partial requirements of
Masters of Business Administration (MBA) Degree from the Department of Business
Administration, Leading University.
The report has been prepared under my guidance and I wish him bright success in the future.

Tanzilur Rahaman
Date:
Supervisor,
Assistant Professor
Department of Business Administration,
Leading University, Sylhet

ACKNOWLEDGEMENT
At first my heartiest thanks to Almighty Allah allowing me to prepare the assignment and in the same
time I would like to express my sincere gratitude and cordial thanks to my reverend teacher and instructor
of this report Mr Tanzilur Rahman Leading University Sylhet, for his inspiring , guidelines, moral
support, valuable instructions and helpful attitudes during the report making.
I also express my warm gratitude and cordial thanks to Mr. Rezaul Korim Branch in charge of United
Leasing Company, Sylhet Branch for giving the chance to do my project work in his workplace.I also
express thanks to junior officer Mr. Fozol Mahmud for providing all valuable information regarding and
related to the report of employee recruitment and selection process.
I am also grateful to all office staff of Sylhet branch who are the employees of United Leasing Company
for providing necessary information concerning to report.

EXECUTIVE SUMMAR
The report addresses the critical analysis on Recruitment and selection process of United Leasing
company Limited. I am proud to do the report on ULC and this experience will surely help me in my
future professional and career life. In this study, I try to investigate the challenging career opportunities
for young professionals over the last 23 years that ULC provided. How their goal is to attract, retain and
motivate the most competent people. This study emphasis on how maintain high recruitment and selection
standards. This is done with a view to encourage human resources development by continuously
upgrading human resources skills, abilities and knowledge and to meet organizational needs to face future
challenges in the ever changing financial services industry. It is one of the leading leasing company of

Bangladesh.
The project report is about recruitment and selection process thats an important part of any
organization. Which is considered as a necessary asset of a company? In fact, recruitment and
selection gives a home ground to the organization acumen that is needed for proper functioning of
the organization. It gives a organizational structure of the company. Its a methodology in which the
particular organization works and how a new candidate could be recruited in such a way that he/she
would be fitted for the right kind of career.
There are two types of factors that affect the Recruitment of candidates for the company
Internal factors
External factors
The objective of selection decision is to choose the individual who can most successfully perform the
job from the pool of qualified candidates. Selection process or activities typically follow a standard
patter, beginning with an initial screening interview and concluding with final employment decision.

CHAPTER-1
Introduction
Introduction
As a part of the Program of Masters of Business Administration program, I was assigned for
doing my project report in United Leasing Company. In United Leasing Company (ULC), I was
assigned in Markets Department. My project was to explore Recuitment and Selection
Process in Non Banking Financial Institution (NBFI), A Case Study on United Leasing
Company Limited, Sylhet Branch". This was assigned by my faculty supervisor Mr. Tanzilur
Rahman, Assistant Professor, Leading University, and my organizational supervisor also
approved the project and authorized me to prepare this report. I have been given to prepare a
report concerning recruitment and selection process and we elected United Leasing Company
Limited which we analyzed and synthesized on it. Recruitment refers to the process of attracting,
screening, and selecting qualified people for a job at an organization or firm. It is undertaken by
recruiters. It also may be undertaken by an employment agency or a member of staff at the
business or organization looking for recruits. In ULC recruitment and selection is done by a
specific process and which is very much modern. It starts with manpower requisition and ends
with appointment. And after that ULC arrange various types of training and development
program for the employees to develop their skill. In true sense ULC follow a developed
recruitment process for selecting right people in right place. ULC Employee Selection is the
process of putting right men on right job. It is a procedure of matching organizational
requirements with the skills and qualifications of people. Effective selection can be done only
when there is effective matching.

Background of the study

There is no doubt that the world of work is rapidly changing. As part of an organization then,
HRM must be equipped to deal with the effects of the changing world of work. For them this
means understanding the implications of globalization, technology changes, workforce diversity.
Changing skill requirements, continuous improvement initiatives contingent workforce,

decentralized work sites and employee involvement are the issue for confront. Now it is a big
challenge for the HRM to support the organization by providing the best personnel for the
suitable position in shortest possible time.
Starting with recognizing the vacancies and planning for them is a great task. Moreover selecting
attracting the suitable candidates and selecting the best person in time is a challenge. The cost of
the recruitment is significant. So, proper planning and formulate those plan is the task that
require more focus and improvement. Equal opportunity and sourcing is also a vital part.
Realizing this need we tried to find the difference and similarities between theoretical aspects
with the practical steps taken by the company. We took an attempt to demonstrate the feature for
the further improvement.

Objectives of the Study

Broad Objective:
To know overall about the company of ULC and also know each and every parts of the recruitment
and selection process of that company.

Specific Objectives:
1. To focus on major elements of Recruitment and Selection process.
2. To focus on the process of Recruiting and selecting personals.
3. To focus on the updates and the batter methods of modern technique
4. To identify the limiting factors in the way of effective recruitment and selection

process.
5. To suggest important options for improvement of the recruitment and selection processes
and practices in United Leasing Company Ltd.

Methodology
Source of Information:
1. Primary: The primary information collected through face to face interview, observation, and
by participation in the recruitment and selection process.
2. Secondary: The secondary information collected from website, Magazine, Memorandum,
Journals, books and some other relevant sources.

Both primary and secondary data sources has been used to generate this report. Primary data
sources are scheduled survey, informal discussion with professionals and
Observation while working in different desks. The secondary data sources are different published
reports, manuals, price updates and different publications of ULC.

Scope of the report

The report deals with the recruitment and selection process in terms of theoretical point of view
and the practical use. The study will allow learning about the recruitment and selection issues,
importance, modern techniques and models used to make it more efficient. The study will help to
learn the practical procedures followed by the leading organizations. Moreover the study will
help to differentiate between the practice and the theories that direct to realize how the
organization can improve their recruitment and selection process.

Limitations of the research

The main constraint of the study is the collection of information. Because most of the
information are confidential. So they dont want to disclose us. Another limitation is time by
virtue of inadequate time we are not become able to get more information regarding recruitment
and selection process of them.

Outline of the report

This report papers is arranged as follows:
Part II provides a general background of United Leasing Company Ltd, its structure and
performance.
In Part III, briefly explained about Non Banking Financial Institutions (NBFI) and their role in
our economy
Literature review about the recruitment and selection process is presented in part IV.
Part V provides the details about how ULC maintains its recruitment and selection process
SWOT analysis of ULCs recruitment and selection process is presented in part VI.
And finally, Suggestions, Recommendations & Conclusion is given in chapter VII.

CHAPTER-2
COMPANY OVERVIEW
Background of United Leasing Company Limited:
United Leasing Company Limited is a NON-Bank Financial Institution engaged mainly in lease
finance business and bills discounting. It was incorporated on 27 April 1989 as a public limited
company under the COMPANIES ACT 1994 with an authorized capital of BDT 1,000 million. From
the beginning, ULC managed to grow rapidly with an average operational growth of above 30%.
In April, 1994 the company issued 10.71% of its shares for public subscription at 50% premium
and was oversubscribed. Now it is listed on the Dhaka Stock Exchange (DSE) and from the date
of listing, its shares are enjoying high price. Foreign sponsors of the company are Asian
Development Bank (ADB), Commonwealth Development Corporation and Lawrie Group Plc of
the UK. Sponsors in Bangladesh are Duncan Brothers (Bangladesh) Ltd, Shaw Wallace
Bangladesh Ltd, National Brokers Limited, Octavius Steel & Co. of Bangladesh Limited and the
United Insurance Company Limited.

Company Milestones
Incorporation of the Company

April 27, 1989

Commencement of operation

September 12, 1989

Public Issue of shares

March 28, 1994

Trading of shares on Dhaka Stock Exchange

June 23, 1994

First dividend declared

April 20, 1995

Authorized capital increased

May 18, 2000

Launch of Fixed Investment Products

September 2005

Commencement of Factoring Operation

October 03, 2005

Commencement of Extended Head Office

June 13, 2008

(Noor Tower)
Commencement of Training Centre

May 15, 2010

Commencement of Booth Office

(Belkuchi, Sirajgong)

September 19, 2010

ULC has opened eight branches so far. The name of the branch offices of ULC with their
opening date is given below:
Chittagong Branch: June 16, 1994
Jessore Branch: December 26, 2005
Gazipur Branch: February 19, 2006
Bogra Branch: June 19, 2006
Sylhet Branch: February 27, 2010
Rangpur Branch: November 23, 2010
Chudanga Branch: December 14, 2010
Bongshal Branch: January 23,2011

Shareholding Structure
ULC was formed by reputed foreign and local institutions in collaboration with International
Development Agencies. It was granted license under the Financial Institutions Act, 1993.
Particulars
Taka
Authorized Capital
1000 million
Paid-up Capital
528 million
Shareholdings of Associated companies and other related parties
Name of Shareholders
United Insurance Co. Ltd.
Lawrie Group Plc, U.K.
Surmah Valley Tea Co. Ltd.
Duncan Brothers

No of Shares
544,845
528,000
218,425
26,400

Shareholding
20.64%
20.00%
8.27%
1.00%

(Bangladesh) Ltd.
Macalms Bangladesh Trust
Octavius Steel & Co. of BD

25,453
18,857

0.96%
0.71%

Ltd.

The Lungla (Sylhet) Tea Co.

15,313

0.58%

Ltd.
Camellia Duncan Foundation
The Chandpore Tea Co. Ltd.
The Allynugger Tea Co. Ltd.
Amo Tea Co. Ltd.
Chittagong Warehouses Ltd.
The Mazdehee Tea Co. Ltd.
Duncan Products Ltd.

3,019
1,846
1,570
1,620
1,572
1,569
1,568

0.11%
0.07%
0.06%
0.06%
0.06%
0.06%
0.06%

Vision
To be the leading financial institution in the markets we serve.
Target Market
Small and medium scale companies who are at the same time low profile good performers and
potential performers as well are the target market of the ULC. The low profile good performers
are those who perform very well in business due to sincerity and devotion of the sponsors though
they lack proper management structure, and professional financial reporting. The potential
performers are the companies which have no proven record but have identified themselves as
good projects and are sincere in approach to exploit the business. In a nutshell the main targeted
customers of ULC are those companies who have potentiality, sincerity and devotion, but are in a
position, that are not favorable to overcome the rigid procedures for loan financing but badly in
need of investment in equipment to grow. Since the large, well performing companies enjoy
lower business and financial risk, they are persuade by all financial organizations and they have
the opportunity to shop around for cheaper credit package. So leasing is not attractive to them.
But due to low credit risk, they may be offered lower rate lease package for their perusal. Among
these blue chips, those who want to finance equipment without straining the existing credit line
may become within the focus of ULC. Also the sister concerns of well reputed large companies,
even though they are green fields may come forward for the services of ULC.

Mission
ULC aims to achieve its vision through being number one not only in terms of market share,
but also by being an employer of choice with up-to-date knowledge and products geared to
address the ever changing needs of our budding nation.

Chapter 3
The Role of Non-Bank Financial Institutions (NBFIs)
Non-Bank Financial Institutions (NBFIs) play a significant role in meeting the diverse financial
needs of various sectors of an economy and thus contribute to the economic development of the
country as well as to the deepening of the countrys financial system. According to Goldsmith
(1969), financial development in a country starts with the development of banking institutions.
As the development process proceeds, NBFIs become prominent alongside the banking sector.
Both can play significant roles in influencing and mobilizing savings for investment. Their
involvement in the process generally makes them competitors as they try to cater to the same
needs. However, they are also complementary to each other as each can develop its own niche,
and thus may venture into an area where the other may not, which ultimately strengthens the
financial mobility of both.
In relatively advanced economies there are different types of non-bank financial institutions
namely insurance companies, finance companies, investment banks and those dealing with
pension and mutual funds, though financial innovation is blurring the distinction between
different institutions. In some countries financial institutions have adopted both banking and nonbanking financial service packages to meet the changing requirements of the customers. In the
Bangladesh context, NBFIs are those institutions that are licensed and controlled by the Financial
Institutions Act of 1993 (FIA 93).
NBFIs give loans and advances for industry, commerce, agriculture, housing and real estate,
carry on underwriting or acquisition business or the investment and re-investment in shares,
stocks, bonds, debentures or debenture stock or securities issued by the government or any local
authority; carry on the business of hire purchase transactions including leasing of machinery or
equipment, and use their capital to invest in companies. The importance of NBFIs can be
emphasized from the structure of the financial system. In the financial system of Bangladesh,
commercial banks have emerged in a dominant role in mobilizing funds and using these

resources for investment. Due to their structural limitations and rigidity of different regulations,
banks could not expand their operations in all expected areas and were confined to a relatively
limited sphere of financial services. Moreover, their efforts to meet long term financing with
short term resources may result in asset-liability mismatch, which can create pressure on their
financial base. They also could not broaden their operational horizon appreciably by offering
new and innovative financial products. These drawbacks led to the emergence of NBFIs in
Bangladesh for supporting industrialization and economic growth of the country.

The listing of NBFIs (as of December 2006)

Name of Non-Bank Financial Institution Year of Commencement
1 Industrial Promotion and Development Company of Bangladesh Ltd (IPDC) 1981
2 Saudi-Bangladesh Industrial and Agricultural Investment CompanyLtd (SABINCO) 1984
3 Industrial Development leasing Company of Bangladesh Ltd (IDLC) 1985
4 The UAE Bangladesh Investment Company Ltd 1989
5 United Leasing Company Ltd (ULCL) 1989
6 Phoenix Leasing Company Ltd 1995
7 Uttara Finance and Investment Ltd 1995
8 International Leasing and Financial Services Ltd (ILFSL) 1996
9 GSP Finance Company (Bangladesh) Ltd. 1996
10 Prime Finance and Investment Ltd. 1996
11 Oman Bangladesh Leasing and Investment Company Ltd 1996
12 Bay Leasing and Investment Ltd 1996
13 Peoples Leasing and Financial Services Ltd. 1996
14 First Lease International Ltd 1996
15 Delta BRAC Housing Finance Corporation Ltd (DBH) 1996
16 LankaBangla Finance Ltd. 1997
17 Infrastructure Development Company Ltd (IDCOL) 1997
18 Bangladesh Industrial Finance Company Ltd (BIFC) 1998
19 Union Capital Ltd (UCL) 1998
20 National Housing Finance and Investments Ltd 1998
21 Midas Financing Ltd (MFL) 2000
22 Bangladesh Finance and Industrial Company Ltd (BFIC) 2000
23 Industrial and Infrastructure Development Finance Company Ltd (IIDFCL) 2001
24 Islamic Finance and Investment Ltd (IFIL) 2001
25 Fidelity Assets and Securities Company Ltd 2001
26 Fareast Finance and Investment Ltd 2001
27 Premier Leasing International Ltd 2002
28 Self Employment Finance Ltd 2002
29 Ahsania-Malaysia Hajj Investment and Finance Company Limited 2006

CHAPTER-4
Literature Review on Recruitment & Selection
History of Human Resource Management
The History of Human Resource Management is the strategic and coherent approach to the
management of an organization's most valued assets - the people working there who individually
and collectively contribute to the achievement of the objectives of the business. The terms
"human resource management" and "human resources" (HR) have largely replaced the term
"personnel management" as a description of the processes involved in managing people in
organizations. Human Resource management is evolving rapidly. Human resource management
is both an academic theory and a business practice that addresses the theoretical and practical
techniques of managing a workforce.
Human resource management has its roots in the late and early 1900's. When there are less labor
then there are more working with machinery. The scientific management movement began. This
movement was started by Frederick Taylor when he wrote about it a book titled The Principles
of Scientific Management. The book stated, "The principal object of management should be to

secure the maximum prosperity for the employer, coupled with the maximum prosperity for each
employee. Taylor believed that the management should use the techniques used by scientist to
research and test work skills to improve the efficiency of the workforce. Also around the same
time came the industrial welfare movement. This was usually a voluntary effort by employers to
improve the conditions in their factories. The effort also extended into the employees life
outside of the work place. The employer would try to provide assistance to employees to
purchase a home, medical care, or assistance for education. The human relations movement is the
major influence of the modern human resource management. The movement focused on how
employees group behavior and how employee feelings. This movement was influenced by the
Hawthorne Studies.
Functional area of HRM
Human resource auditing
Human resource strategic planning
Human resource planning
Manpower planning
Recruitment / selection
Induction
Orientation
Training
Management development
Compensation development
Performance appraisals
Performance management
Career planning / development
Coaching
Counselings
Staff amenities planning
Event management
Succession planning
Talent management
Safety management
Staff communication
Reward

Recruitment
Recruitment refers to the process of attracting, screening, and selecting qualified people for a job at
an organization or firm. It is undertaken by recruiters. It also may be undertaken by an employment
agency or a member of staff at the business or organization looking for recruits.

Sourcing
Sourcing involves the following steps:

Internal sources:
The most common internal sources of internal recruitment are
1. Personal recommendations
2. Notice boards
3. Newsletters
4. Memoranda

External sources:
There are many sources to choose from if you are seeking to recruit from outside the company.
1. Word of mouth
2. Notices
3. Job centers
4. Private agencies and consultants
5. Education institutions
6. The press
7. Radio
8. Television

Recruiting internally and externally

Internal Recruiting:
Recruiting from among the existing workforce offers many advantages. Seeing your employees at
work on a day-to-day basis will enable you to evaluate their particular strengths and weakness
accurately and choose the most suitable person for the position. When the company recruits from
within the organization the employees will feel important and highly valued since it appears that the
organization immediately turns to them whenever a vacancy occurs. Their work rate and performance
should improve as well as they will realize that increasing job opportunities are available to them if
they are industrious and successful at their jobs. However any method has its own merits and
demerits.

Merits
It improves the morale of the employees
The employee is in better position to evaluate those presently employed than outside
conditions
It promotes loyalty among the employees, for it gives them a sense of job security and
opportunities of advancement.
These people are tried and can be relied upon

Demerits
It often leads to inbreeding and discourages new blood from entering into an
organization.
There are possibilities that internal sources may dry up and it may be difficult to find
the requisite personnel from within an organization.
No innovation are made no new thinking so on new inputs which is very much essential
for the growth of the organization
Usually promotions are based on seniority so the danger is that really capable hands may
not be chosen.

External Recruiting:
When a company is involved in large expansions and is more oriented towards achieving high
growth and high market share, with more focus on quality of the product and high customer
satisfaction then it is inevitable for any organization to go for external recruiting. External
recruiting is nothing but recruiting the people in your organization from outside the company. It
will help the company to make best use of other sources that are lying outside the organization
like for example campus recruits is an effective and efficient way of recruiting when a company
wants new minds that are more creative and go-getters for any task. If a company wants to
concentrate only on its core activities and wants to relieve the burden of the task of recruitment
then the more feasible option would be third party recruiting or recruitment process outsourcing
RPO. The experienced persons but unemployed can be recruited into the company which may
reduce the training cost if they are from same industry. Retired and experienced people can yield
more by enhancing their prior experience in new business situations.

Merits
New entrant to the labor force i.e., young mostly inexperienced potential employees fresh
graduates or postgraduates can be taken and mould in accordance with companys culture.
External recruiting results in best selection from the large sources
In the long run this source proves economical because potential employees do not extra
training.
Many different ways of recruiting is available.
The excess applications generated for current requirement may be utilized for future
vacancies.

Demerits

 Extra time is required by the people to adjust them selves to the present working
situations.
If the recruiting is done from large source then it will be more time taking as the
applications generated are more and short listing becomes critical.
Cost of recruiting will be comparatively more than internal recruiting.
Sometimes it creates employee dissatisfaction as there may be mismatch between the
employee expectation with the company and the companys expectation with the
employee.
Selection
Employee Selection is the process of putting right men on right job. It is a procedure of matching
organizational requirements with the skills and qualifications of people. Effective selection can
be done only when there is effective matching.
The employment selection process takes place in following order:
1. Preliminary interview or screening
2. Application form
3. Employment test
Written test
Aptitude or potential ability test
Achievement test
Personality test, Comprehensive interview
4. Technical interview
5. Background check and inquires
6. Medical examination
7. Final selection

Chapter 5
Recruitment and Selection process in ULC
HR practice in ULC:
ULCs HR Vision:
ULC believes that its human resources are its greatest assets and recognize them as building
blocks on which Company's performance and development are based. ULC continues to develop
and implement appropriate human resources management policies and practices to build up its
employees, and to ensure their optimum contribution towards the achievement of corporate
goals. As our human resources give the organization a significant competitive edge, we continue
our policy of recruiting best people and implementing programs to develop and retain high
quality human resources.

Recruiting process that ULC follows:

The selection of external recruits consists of the following steps:
1. CV Submission
Potential candidates interested in joining in the ULC are required to send their complete
curriculum vitae. An acknowledgement of receipt is sent for all submitted applications to the
candidate's email.
2. Application Evaluation
The Human Resources department evaluates all incoming applications, against prerequisite
abilities and skills set for all current openings. All applications are kept based on strengths and
specialization, for future reference.
3. Ability Tests
Potential candidates will be invited to participate in aptitude tests i.e. numerical, verbal, English
and psychometric, when deemed necessary.

4. Capability Based Interviews

To ensure that our recruitment process is fair and consistent, all candidates who are successful at
the exams are invited for a capability based interview. Interviews are based against capabilities,
required for each position for which the candidate is interviewed for. A capability or competency
is an ability described in terms of skills & behaviors that are essential to effectively perform
within a job.
5. Reply Letters
At all stages of the process candidates are kept informed of the status of their application with an
email reply letter.
6. Job Offer
If a candidate successfully reaches the final stage, a position offering is made in conjunction with
a competitive reward package.
Internal selection is done through competency based recruiting, succession process.
ULC uses some external sources for recruitment. These are:
Internet
Off shoring
Referrals
Advertising
Internal recruiting is very high in ULC. ULCs training and development activities are very high
in quality so the recruiters emphasize to recruit internal capable candidates for the respective
post. ULC also uses HRIS for succession planning. It is also a method of the internal recruitment
of ULC.

Selection:
In ULC If a candidate completes the telephone interview successfully, they will invite to the
location most appropriate to them. Face-to-face selection is done in the head HR departments
office where the job is described eventually.
The final step to success
It is a candidates opportunity to meet and find out as much as possible about their experiences.
ULC wants candidates to be able to make an informed decision a candidate should receive an
offer.
There are some techniques that ULC Finance ltd. followed:
Face-to-face interview
Written case study
Presentation
This is our opportunity to see how candidates perform in a number of different situations, against
clearly defined criteria. Head Hunting process is very effective for ULC. Through this they can

easily recruit and select top level managers, though they are offering a very attractive
compensation.

Chapter-6
SWOT Analysis of ULCs Recruitment and Selection
process
Strengths
1. Brand equity of United Leasing Company.
2. Rigorous Pre-Hiring assessment tests to understand aptitude and
personality of candidates.
3. Proper reference checks to ensure that only Bona fide candidates are appointed.
4. Adequate number of channel partners to generate footstep for each
location.
5. Footfall MIS being maintained at each branch locally by Admin.

Weaknesses
1.
2.
3.
4.

Pre assessment tests are costly.

Conversion of footfalls is low.
Lengthy pre-offer formalities.
Huge employee turnover.

Opportunities
1. Campus recruitments have huge potential for fulfilling manpower
requirements cost effectively.
2. Tie up with recruitment agencies on supplying fixed number of footfalls
week on week.
3. Develop exclusive contract with channel partners to meet the manpower
requirements.
4. Make blue form brief and to the point.
5. Reduce turn around time of making an offer.

Threats
1. Increasing number of private companies in banking sector creates ample
choices, frequent and easy mobility for employees.
2. Same channel partners are handling all leasing/banking/insurance
companies. This leads to same pool of candidates being circulated to all
partners.
3. Increasing spill over as a candidate has more than one offer at the time of
making a job shift.

Chapter -7
Suggestions, Recommendations and conclusion
Suggestions:
Tie up with more & more consultants from multiple segments

Since the limited placement agencies are sourcing candidates to all banking
companies, there often comes the problem of duplication of data. Therefore
it is recommended that more and more consultants should be tied up from
multiple segments to attract large pool of new and fresh talent.

Know what you're looking for in candidates.

It is observed that the candidates sourced by placement agencies and send
for further rounds of interviews are rarely found suitable by the hiring
managers. Therefore, in case there is need to utilize the service of a
placement agency, then it is recommended that these placement agencies
be given a well drafted job description and job specification. This can also be
circulated to internal employees under the employee referral scheme. This
will help people to get a clearer picture and provide for most suitable
candidates. Thus making efficient utilization of the existing resources.

Reduce the pre offer formalities:

Pre-offer documentation includes filling of a lengthy Blue form which includes
all personal, educational and professional details of candidate. This is very
time consuming and even after taking these details from candidate its not
sure that offer will be made or not. This also becomes frustrating for the
candidate sometimes. So, it is recommended that unnecessary details should
not be asked before we make the final offer to the candidate. Blue form
should be made consise.

One size doesnt fits all

An effort must be made to study local condition, education levels. Since
applying common test for all candidates across entire country can
overshadow a candidates capabilities. This factor must be given importance
since Indian society is divided on various parameters such as education,

language, infrastructure etc. A test with high level of English and

complicated sentence structure can be a hurdle in areas where language
itself is barrier. An option is to have different tests for different regions.

Blend technology into every aspect of your recruiting and hiring process.

Web-based technology lets you increase hiring speed and quality while
reducing costs. Currently, job boards constitute the biggest use of the Web,
offering access to thousands of resumes within hours. But the Web can also
be a powerful tool for screening and qualifying that flood of resumes.
Companies have begun to use the Web to collect and instantly match data
on candidate skills, motivations, and experiences against job criteria. Other
uses of Web-based technology include online interviewing, candidate
assessment and testing, applicant self-scheduling, and tracking. Work the
Web wisely and you save time for recruiters and hiring managers and nab
top candidates before your competitors can.
It is recommended that apart from the person-job fit, method must be
devised to check for person-organization fit. A person-organization helps
to assess how well a candidate is suited the organization. Whether the
attitude he/she carries will promote both organizational as well personal
goals. This takes a great importance especially when attrition is high. It
will help the organization to retain its employees for a longer period of
time and less burden on recruitment staff.

Build and manage your candidate pool as a precious resource.

A "candidate pool" is a group of individuals who have shown interest in
working for your company and are qualified for and ready to fill certain

positions. Rather than undertaking the time-consuming process of filling one

job at a time, you draw on the candidate pool and fill jobs as they become
available. How do you keep a pool active? Some companies send their
newsletters to pool candidates, give them product coupons, and keep in
touch through e-mail. Pool management is not easy in a tight labor market
--good candidates often go elsewhere. But many organizations, especially
those with a reputation as a great place to work, are able to fill positions
quickly using the pool concept.

Create winning impression even on those who are not selected

Its very important to create a favorable impression of your organization on
all those who come for interview. Those who are not selected in the first
round of personal interview should also carry this impression that they have
missed the opportunity to work in a great company. For this, there must a
proper coordination of the interview of the candidate and greater degree of
professionalism. A candidate when invited for a interview must be attended
as soon as possible and should be made to wait for hours together.
Interviews conducted on a scheduled time leave a good impression on the
candidate. Even if he is not selected, a good impression about the will make
him recommend the name to his people.

Recommendations
Strategic planning: Successful employment planning is designed to identify an
organization human resources need. ULC . can use software to keep employees update;
which type of qualified employees they have; forecast future requirement of qualified
employees like other NBFIs.

 Checking Policy: When the candidates come for interview or written exam the
authority doesnt check the person with the picture that the candidates attached with the
application.
Using 3rd party: The Company can use 3rd party for all the department to reduce cost.
And it is not possible all time to get the best CV, in that case 3rd party can help me.
Vacancy Fill up: Most of the time company filled the vacant position from outside. But
they can fill it by promoting appointment or suitable person in the organization.
Emphasize on internal search: ULC basically relied on external search for recruiting
purpose. They must attempt to develop their own.
Low level employees for higher positions through more internal search. To do so they must
ensure a communication network notifying interested persons of opportunities, including
advertising within the organization like position open bulletin board in every department.
Job fair: All of these organizations must use open up recruiting efforts to the external
community like job fair through external search. They can participate in career and job fairs and
open houses and must develop and support educational programs and become more involved
with educational institution that can refer more diverse talent pool.
Background investigation: HR department should undertake a background investigation of
applicants who appear to offer potential as employees. They should verify an individual legal
status to previous work through checking credit reference, criminal records and so on.

CONCLUSION
In recent years, Human Resources issues have become central to business deliberations in this
ever-changing business environment. Today's most successful organizations recognize the
bottom line impact of the emerging HR practices. Effective Human Resources Departments are
upgrading themselves every now and then to attract, develop and retain talents. It is apparent that
effective HR practices deliver shareholder return much higher than those of companies without
such practices. It is important for HR professionals to acquaint with HR best practices to build
organizational capabilities in delivering sustainable results.

ULC is a big finance organization in Bangladesh. This organization is also very important and
influential in the industry. Human resource department is a basic part of business now days. So to
run a business this department has a lot of activities to do. ULCs HR department is the
department from where the organization is actually monitored and controlled over time. ULC is
operating for 23 years and have grown significantly. So after all the details it is clear that to run
an organization effectively and efficiently it must have to do some HR jobs because the resource
of an organization helps it to grow. And the effective use of the resource makes the organization
to reach up to its expectations and objectives.

Reference:
1. DeCenzo, David A. and Robbins, Stephen P. (2006). Fundamentals of Human

Resource Management, Ninth. Edition. New York: John Wiley and Sons,
2. Human Resource Management Practices in Bangladesh:http//www.hrmpb.com/
3. Human
Resource Management Practices in the 21st Century:
http//www.hrmp21.com/
4. www.ulc.com.bd

Questionnaire
On
Human Resource Management (HRM) Practices of
Bangladesh
The questionnaire has been prepared as part of survey about knowing the employee recruiting
and selection process of a financial organization, as I select ULC. All the data and information
collected by this instrument will be used only for the purpose to prepare a research paper. Open
ended and closed ended questions are used in this questionnaire. The overall estimated time for
ticking up is 10 minutes.
Thank you for your participation.
1. In your organization which department is mainly practice?
HRM (Human Resource Management)
PM (Personnel Management)
2. Who is the responsible person for planning the HRM/PM in your organization?
..
..
............
3. In the recruitment process what kind of sources is used by your organization?
External Internal
4. For recruitment the employee which things is followed by your organization?
Advertisement Campus Recruiting
5. In case of selection: How your organizations select the best candidate among the
available candidate?
.
.

6. How do you evaluate the working efficiency of the employees of your organization?

7. For the job analysis of the employee which method is performed by your organization?
Observational Interview Questionnaire Functional

8. For developing the working efficiency of the employees do you provide any training
program?

9. If you arrange any training program for the employees, which type of training programs
are those?