Human Resource Management Practices of Premier Bank Limited

Abstract

The banking sector in Bangladesh has experienced tremendous growth since its inception in the late 1960s. Bangladesh is one of the fastest-growing economies in South Asia and is making significant progress in financial inclusion with the help of its banking sector. The banking sector in Bangladesh plays a crucial role in the country’s economy by providing access to financial services to large segments of the population, such as the unbanked and the underbanked. The banking sector in Bangladesh is dominated by the state-owned banks, which account for over 70% of the total banking assets. Private sector banks and foreign banks have also started operating in the country in recent years. The banking sector in Bangladesh has been playing an increasingly important role in the country’s economic development. The sector is making significant progress in terms of enhancing financial access and inclusion and providing the necessary financial services to the unbanked and underbanked population. The banking sector in Bangladesh is also playing a key role in the country’s efforts to achieve its goal of becoming a middle-income country by 2021. The banking sector in Bangladesh is well-regulated by the Bangladesh Bank, which is the central bank of the country. The Bangladesh Bank has launched several initiatives in recent years to promote financial inclusion and access to banking services. The banking sector in Bangladesh is a crucial part of the country’s economy. It is responsible for providing liquidity to the economy and facilitating economic development. As the banking sector continues to grow, it is essential for banks to invest in Human Resources Management (HRM) practices in order to remain competitive. HRM practices in the banking sector in Bangladesh can help to attract and retain talented staff, develop and motivate employees, create a positive work environment, and facilitate the development of a high-performance culture. Investment in HRM practices can also help to reduce employee turnover, improve efficiency, and increase customer satisfaction. It is important for banks in Bangladesh to invest in HRM practices in order to remain competitive and to ensure the success of their businesses. Premier Bank Limited Bangladesh (PBL) is one of the largest and most successful banks in Bangladesh. It has been operating since 1998, and has been recognized as one of the most profitable banks in the country. The bank has a strong presence in the corporate, retail and SME banking sectors. It has been able to maintain a strong financial performance with its innovative products and services. This report is based on an internship program conducted to explore the human resource management practices of Premier Bank Limited Bangladesh. It is aimed to explore and analyze the HRM policies and practices of the bank, as well as to investigate the effectiveness of the HRM practices in the organization. The report will also outline the strategies used by the bank to attract, select, motivate and retain the best employees in order to achieve the organizational objectives. In addition, the report will discuss the impact of the HRM practices on the performance of the bank. Finally, it will draw conclusions and suggest recommendations for the improvement of the HRM practices in Premiere Bank Bangladesh.