Human Resource Practices at Wartsila Bangladesh Limited

Transcription

1 Human Resource Practices at Wartsila Bangladesh Limited Kamrun Naher*, Md. Bashir Uddin**, Meshkat Mahbub***, Anisul Mannan Shammo**** & Md. Robiul Islam***** *Senior Lecturer, Sylhet International University, City, Sylhet, BANGLADESH. kabitamgt{at}gmail{dot}com **Ph.D Fellow, Economics, International Islamic University Malaysia, Kuala-Lumpur, MALAYSIA. bashirsiu{at}gmail{dot}com ***MSc Student, Department of Finance, International Islamic University Malaysia, Kuala-Lumpur, MALAYSIA. meshkat.mahbub{at}live{dot}iium{dot}edu{dot}my ****MSc Student, Department of Finance, International Islamic University Malaysia, Kuala-Lumpur, MALAYSIA. anisul.mannan{at}live{dot}iium{dot}edu{dot}my *****Ph.D Fellow, Economics, International Islamic University Malaysia, Kuala-Lumpur, MALAYSIA. robiulbiu{at}gmail{dot}com Abstract Wartsila is a worldwide pioneer in technologies and complete life cycle solutions for the marine and energy markets. Wartsila s primary business exercises in Bangladesh are power plant sales, ship power sales and supporting services. Starting today, Wartsila has conveyed more than 2100 MW of Power Plants and Marine Engines in Bangladesh. Wartsila has around 130 representatives in Bangladesh who are profoundly qualified and prepared as well as have the most noteworthy feeling of commitment to give Life Cycle Support to its customers. We tried to observe the recruitment, selection, training and development, compensation, and other issues in Wartsila Bangladesh limited. Our study reveals that each and every component is not equally important to the management of the company. Another deliberate attempt of our study is to depict the human resource practices in multinational organization, which the national organization can practice in same way. We tried to identify the problems related to human resources management in Wartsila Bangladesh limited and gave some recommendations for solving these problems. Keywords Employee; HRM; Misconduct; Quality; Training. Abbreviations Bangladesh Power Development Board (BPDB); Human Resource Management (HRM); Information and Communication Technology (ICT); Wartsila Bangladesh Limited (WBDL). I. INTRODUCTION HRM practices mentions to organizational exercises coordinated at dealing with the pool of HR and guaranteeing that the resources are utilized towards the satisfaction of organizational goals [Schuler & Jackson, 3]. The idea of HRM gets to be well known in the mid-1980s. From that point forward there has been expanding enthusiasm for the scholastic idea and in addition in the examination territory. Early models of HRM were to a great extent applied and not taking into account significant experimental proof for their legitimacy. Sensational advances of Information and Communication Technology (ICT), changing blend and individual estimations of the workforce, development of the learning economy and expanding worldwide rivalry have made gigantic difficulties on associations. To adapt to the difficulties proficiently, human asset has been considered as a standout amongst the most essential variables in today s hypercompetitive commercial centre. With regards to a creating economy like Bangladesh, where the requirement for arrangement of capital is squeezing, where advancements in the field of modern and bank administration are progressive, and where budgetary emergencies going with throbs of financial development are incessant, the difficulties postured by HRM are of extraordinary significance; and, as a continuation, investigating the potential outcomes of the utilization of HRM turns into an exceptionally applicable field of enquiry and examination. Some researchers characterized HRM as a vital way to deal with the administration of HR that includes all administration choices and activities that influence the relationship between the association and representatives. Human resource estimation is about esteeming the commitment individuals make to the achievement of an association, and the term human capital portrays the commitment made by human abilities and information to the ISSN: X 2016 Published by The Standard International Journals (The SIJ) 110

2 creation of merchandise and administrations [Becker, 4]. From these definitions, plainly productive HRM practices are inescapable elements in deciding the development and prospects of any association. Human resource is the most valuable resource and fragile component of generation. In this worldwide aggressive world, it is important to hold gifted labourers in the association by effective HRM rehearse. Each association works its exercises with the backing of human asset which incorporates top level directors, administrators, chiefs and different representatives. Wartsila Bangladesh Limited (WBDL), incorporated in Bangladesh in 1998, is a 100% subsidiary of Wartsila Corporation - leading global ship power supplier and a major provider of solutions for decentralized power generation and of supporting services. Being part of the world s largest reciprocating engine manufacturing industry and having considering installed capacity in Bangladesh, WBDL has full commitment to expand the investment to the Bangladeshi market. In 1997 the Bangladesh Power Development Board (BPDB) was faced with the challenge to ease a critically short power supply in the Western Zone of Bangladesh. The electrical demand had been consistently higher than available capacity, and generation costs in the area had been very high due to the low efficiency of existing equipment and the heavy use of expensive, low-availability fuel. In October 1997, BPDB signed a Power Purchase Agreement with Khulna Power Company Ltd. for a 110 MW floating base load power plant at Khulna, to help ease the electricity shortage. The Khulna plant consists of two Wartsila floating base load plants named Tiger I and Tiger III designed for continuous operation and intended for electricity production. Wartsila is also providing operational and maintenance services for the Khulna plant during the duration of BPDB s power purchase agreement. The total capacity to produce electricity is MW, electric efficiency rate is 43.5%, and they had started their operation from October 13, 1998; the type of their engine is 19 x Wartsila 18V32LN. II. LITERATURE REVIEW Human Resource Management (HRM) is viewed as a basic authoritative asset that helps an association support its successful operation. It is a critical region that impacts some of workers dispositions and conduct, for example, goal to leave, levels of occupation fulfilment, and authoritative duty [Lee, 14]. Pfeffer [10], proposed that delicate or high responsibility human resource management practices are those that produce trust in representatives and these practices incorporate giving representatives strengthening and contribution in basic leadership; broad correspondence about working and execution of the workers administration; planning preparing for aptitudes and self-improvement of representatives; particular procuring; group working where thought are pooled and innovative arrangements are supported; rewards framework that comparable with exertion; diminishment of status between the administration and staff and all labourers are esteemed paying little respect to their part. As indicated by Macky & Boxall [21], the logical writing accepts a causal connection spilling out of HRM practices to hierarchical execution by means of the reactions of representatives. Associations that don t pay even-handedly contrasted with others may lose their representative s a direct result of the non-focused pay bundle [Adams, 1]. As indicated by Lawler [19], society has entered another period in the relationship amongst associations and their workers. In this new period, individuals are the essential hotspot for an organization s upper hand and authoritative thriving and survival relies on upon how workers are dealt with. The human part of HRM is worried with the relationship amongst manager and worker and is connected with the human relations development and the idea of high responsibility work hones created till the day [Beer et al., 2]. There are four top models of HRM, for example, the Fombrun, Tichy and Devana model of HRM, the Harvard model of HRM, the Guest model of HRM, and the Warwick model of HRM [Bratton & Gold, 24]. The most mentioned meaning of representative satisfaction as a satisfying or constructive enthusiastic state coming about because of the assessment of a man s employment [Haque & Taher, 22]. Job satisfaction is likewise characterized as an individual s general mentality with respect to his or her occupation. Inspiration is firmly identified with employment fulfilment. Different elements, for example, a representative s needs and longings, social connections, style and nature of administration, employment outline, pay, working conditions, saw long range open doors, and saw open doors somewhere else are thought to be the determinants of occupation fulfilment [Byars & Rue, 9; Moorehead & Griffin, 23]. Job satisfaction impacts representatives hierarchical responsibility, turnover, truancy, lateness, mischances, and grievances [Byars & Rue, 9; Moorhead & Griffin, 23]. Satisfied workforce can increment hierarchical efficiency through less diversion brought about by non-appearance or turnover, couple of rates of dangerous conduct, and low medicinal expenses. HR practices and employment satisfaction are concentrated generally in various parts of the world. It is expected that HR practices are nearly connected with occupation satisfaction. Since numerous researchers and experts trust that sound HR enhances result in better level of employment satisfaction which at last enhances authoritative execution [Appelbaum et al., 13]. Steijn [18], found that HRM rehearses had constructive outcome on occupation satisfaction of the workers of Dutch open division while singular qualities, for example, age, sex, and training had immaterial impact on employment fulfilment. Anthony et al., [12], demonstrated that utilization of particular HR hones in nearby. Human Resource Management Practices in Bangladesh: An Empirical Study 135 government association in the United Kingdom (UK) was connected with a more prominent level of occupation satisfaction, working environment trust, duty, exertion, and saw hierarchical execution. The best Human Resource hones zones are enrolment and choice, ISSN: X 2016 Published by The Standard International Journals (The SIJ) 111

3 socialization, work plan, preparing, correspondence/support, profession improvement, execution administration, representative reward and employer stability [Huselid, 6]. It is conceivable that when workers judge the association to be reasonable and strong in their treatment especially as to the accessibility and recurrence of limited time open doors, sufficiency of pay and great supervision, positive sentiments of prosperity will be made, which is liable to fortify that to respond by expanding their faithfulness to the association and lessening turnover. The inspiration and opportunity centred packs of Human Resource hones decidedly identified with full of feeling responsibility and contrarily identified with turnover [Gardner et al., 20]. Ferris et al., [7] proposed that HRM hones that flagged the association s goals to put resources into representatives, (for example, formative encounters and preparing) delivered more elevated amounts of full of feeling authoritative duty. HR practices, for example, pay; advantages and preparing are adversely identified with turnover since they inspire representatives and lock them to their employments [Gruber, 5]. Shaw et al., [11], show that automatic turnover is influenced by staffing rehearses (enlistment and choice procedure) and representative checking (execution examination). DeCenzo & Robbins [8] opine that representative preparing has turned out to be progressively critical as employment have turned out to be more refined and affected by innovative changes. Bernardin [16], opine that throughout the years, preparing has turned out to be progressively famous as HR instrument for enhancing worker and administrative execution in association. Buck & Watson s [15] demonstrated nine vital HRM practices, for example, decentralization, Compensation, Participation, preparing, improvement, business security, social associations, administration style, interchanges, and execution examination. As indicated by Klaus et al., [17], through better occupation task or work plan, representatives may show more noteworthy duty, prompting better employment execution. III. OBJECTIVES OF THE STUDY 1. To present the current scenario of Wartsila power plant; 2. To identify the impact of Wartsila in South East region of Bangladesh; 3. To know the human resources practice in Wartisla and why there have no labour unrest; and 4. To understand the difference between multinational organization and nationalized organizations in the field of human resource practices. IV. POPULATION SIZE AND QUESTIONNAIRE DESIGN This paper has been prepared relying on primary data and secondary information. Primary data has been obtained through a sample survey conducted on a number of employee recruited in Wartsila Bangladesh Limited. Following are the processes of collecting primary data: Population: The survey has been conducted on the employees and Executives of the organization. Sampling Area: Samples are taken from different job positions of the organization. Sample Size: Among the employees 20 have been taken as sample. Among management staff 4 were taken as sample. Sampling Technique: The samples are taken on random sampling basis. Questionnaire: To collect primary data a questionnaire was developed. The pertinent secondary information was gathered browsing the website of Wartsila, unpublished dissertation report, annual report and publication ( ), supplied by Wartsila publication committee, printed forms and documents supplied by Wartsila, different publications and journals, regarding Wartsila s activities, newsletter, world wide web site and others. The data are analyzed in different angles in the objective oriented process to show true and exact situation of HR strategy, policy planning and job satisfaction. V. RESULT AND DISCUSSION 5.1. Selection & Hiring The Company s aim is to attract and retain high intellectual people to achieve its objectives. It is also its aim to place employees in posts, which utilize their developing talents at various stages of their career. However, where the talent, skill or academic prerequisites for job are not available in the company, the company will recruit externally Recruitment Procedure If any vacancy exists and there is budget for the post, the concerned departmental head shall fill the Recruitment Proposal Form. Up on approval through Grandfather Principle, the head of HRD shall proceed to process the recruitment. To search for prospective candidates, the head of HRD shall: Circulate an in-house memo among the employees; May evaluate from previously received applications; Arrange to publish an advertisement in national dailies; The HRD shall initially scrutinize all the applications received in co-ordination with the head of concerned department and prepare a short list of the candidates. This short list shall be submitted to the Management for approval to call for interview. Prior interviewing, an interview board is to be formed which shall evaluate the candidates and record the ratings in the prescribed Interview Rating Report form. The candidates for interviews are to fill the prescribed Employment Application Form before proceeding for interview. As per decision of the board, the head of HRD shall issue the appointment letter. ISSN: X 2016 Published by The Standard International Journals (The SIJ) 112

4 Physical Examination & Other Pre-requisites As per pre-requisites for employment an applicant is required to undergo a thorough physical and medical examination to be carried out by a medical practitioner duly authorized by the company and to submit all necessary records Reference & Character Investigation When an applicant has been finally selected, the company can make a check on reference given by the applicant. Information obtained shall be treated confidentially and filed at the Human Resource Department Joining & Placement On submission of joining report, the employee will be given a general briefing by the HRD and introduced with the concerned department head who shall assign inherent duties & responsibilities of position of the employees Salary & Fringe Benefits The normal pay day for the current month salary is 25 th day of each month. In the event the pay day falling on weekly / public holiday, the salary is disbursed on the last working day prior to week/public holiday. The monthly gross salary after necessary deductions is credited to the staff member s account maintained in the designated bank. Staff members are responsible for their own personal taxation. The Company issues the certificate of income and the tax deducted at source for the assessment year to enable staff members in filing their own tax returns Salary The components of Monthly Gross Salary are Basic Salary, Medical Allowance, House Rent Allowance, and Conveyance Allowance, which are determined according to the Company s established salary classification. Any changes in salary during the employment tenure of an employee are communicated by the Human Resource Department Salary Reviews All salaries are reviewed on an annual basis and revision in salaries are made effective January 1, each year. In exceptional cases, reviews may also be granted at any other time during the year Medical Benefits The Company reimburses general medical expenditures for a regular employee and his/her dependents to a certain amount in a year. These expenses are authorized by departmental heads upon submission of details on a monthly basis on the prescribed format supported by documents Life and Personal Accidental Insurance Benefits All regular employees are covered under Company s Group life, Accidental death and Permanent total / partial disability insurance. A temporary / contractual employee is given Individual life, Accidental death insurance coverage if required Festive Bonus All regular employees are entitled to one festive bonus annually equivalent to one-month salary payable in one instalment coinciding with their respective principal religious festival Retirement Benefits The Company has an Employee Provident Fund, the participation in which is compulsory for all employees after confirmation of their service with the company. The 10% of the basic salary is payable each month into the fund by both the employer and employee. The fund is managed by the Trustees of the Fund who makes decision on effective investment of this fund to earn maximum profit from the fund s investment. In the event of termination of service, the fund member is entitled to all the contributions along with profits till last working day, as per the Rules of the Fund. The Company has a Gratuity fund. Only the permanent employees will be entitled to obtain benefit from such fund Training As an expanding, progressive Company, Wartsila Bangladesh recognizes the importance of training. Even though experience is said to be the best teacher, the company believes that without effective training programs, it will be lagging behind and will not be able to meet the rising demands of the organization. The higher up employee goes for more improvements and additional skill they need to cope with the growing scope of work and span of responsibility. The Company conducts training programs to help employees become more efficient and effective & actively seeks and encourages staff members who are keen to learn, improve and innovate, regardless of the job positions held. External and Internal training courses are conducted to: a) Help employees perform more effectively in their job. b) Prepare for future growth and advancement by providing supervisory and other management programs. c) Built effective work teams through developing staff communications and interpersonal skills. d) Inculcate a sense of dedication to highest quality. e) Keep up-to-date with changes that affect the business environment. Where required the Company may send employees for a foreign training for which they will have to sign a Service Bond as per the requirements of the Company. ISSN: X 2016 Published by The Standard International Journals (The SIJ) 113

5 Level of Performance Exceeds performance expectations Meets performance expectations Partially performance expectations meets Does not meet performance expectations Table 1: Different Level of Performance and its Criteria Comments High level performer consistently exceeding job requirements in all key aspects Stands out from his peers, achieved extraordinary accomplishments ahead of schedule. Consistently demonstrates all the behaviours in the competency performance standard. Development and training/action may still be appropriate to assist in professional growth. Effective performer consistently meeting job requirements in all key aspects. Achievements are within schedule and at established standards. Demonstrates many of the behaviours in the competency performance standard. This level represents a fully proficient contributor. Development and training/action are still appropriate to assist in professional growth. Normal performers in most job requirements but does not routinely meet all important job requirements. Some performance and development objectives and responsibilities are not accomplished or fail to meet in established timetables and standards. Improvement is needed; development and training/action are required for the employee to become fully proficient. Perform inadequately and fails to meet minimum job requirements. The performance is unacceptable but the employee may be capable of improving to acceptable level with a specific training / action plan Employee Development & Performance Appraisal System of employee development supports the creation of a culture, which is entirely performance driven. In a nutshell it is an integration of three key management processes i.e: Performance Planning Appraisal and Measurement Reward Employee s performance will be appraised by immediate supervisor and reviewed by his / her departmental head. Level of performance and the overall rating will be discussed. Together with the supervisor, employee shall work out plans for improvements and set goals for the following year. It is an opportunity to discuss with the superior about employee s own development plans, training needs and other work/career related issues. The system ensures suitable rewards for staff members for their contributions to the Company. Wartsila s system has four level of performance as follows: The staff members rated (does not meet performance expectations) do not qualify for any annual merit increases or for performance/production bonus awards. The whole appraisal process is open and there are no confidential reports. Employee s performance will be monitored on an on-going basis and reports will be prepared whenever considered necessary by his/her superior. Employee Development form is used in carrying out the Performance appraisal Discipline and Misconduct Discipline Obviously, when employee misconduct or poor work performance occurs, measures must be undertaken to correct the situation and to prevent further occurrences, for the good of all Misconduct Misconduct includes but not limited to: i. Disregard or disobedience to the rules or instructions of the Company. ii. Improper, riotous or disorderly behaviour during working hours. iii. Making false or misleading statements, furnishing false information, or omitting to furnish required information at the time of employment. iv. Inefficient, careless or wasteful working. v. Wilful insubordination, whether alone or in combination with others to any lawful and reasonable order of the Superior. vi. Theft, fraud, or dishonesty in connection with Company or any clients, visitors, guests, or any other person connected with the company. vii. Wilful damage or loss to Company s goods and property. viii. Possession of firearms or ammunition within the office premises. ix. Habitual late coming. x. Habitual absence without leave or absences without leave for more than ten (10) days. xi. Striking or inciting others to strike in contravention of the rules/ instructions of the company. xii. Acceptance of any gratification in cash or kind from any vendors, suppliers, agents or any third person/company who are associated with the Company. xiii. Drinking of alcoholic beverage or any narcotic drug in the office. xiv. Any action contrary to discipline. xv. Taking part directly in a political activity. xvi. xvii. Contravening any provision of the service rules. Being convicted of any offence involving moral turpitude Disciplinary Action The approach that is taken to discipline may vary depending on, among other things, the gravity of the offence, the ISSN: X 2016 Published by The Standard International Journals (The SIJ) 114

6 circumstances under which it occurred, and overall work record, including any previous misconduct. In order of severity, discipline can take one of the following forms. i. Verbal warning ii. A written warning or reprimand iii. Withholding of increment or promotion for a specified period iv. Suspension, subject to dismissal v. Dismissal 5.7. Quality, Environmental, Occupational Health & Safety Management System Wartsila Bangladesh is certified on three prestigious international management systems, ISO 9001 that takes care of the quality of the work performed, ISO that takes care of the environmental management system of the plant and OHSAS the management system that focuses on Occupational Health & Safety management System. There are three policies pertaining to the implemented management systems and top management is committed to maintain them. The organization has specific objectives and programs to demonstrate continual improvement as per requirement of the management systems. Every personnel of the organization are highly motivated and aware of the requirement of the above three management systems and their responsibilities as well to maintain the prestigious certificates. VI. FINDINGS AND ANALYSIS Based on the above study and data following are the findings pertaining to employee motivation: 6.1. Salary The chart appended below represents the number of employees those are extremely satisfied, satisfied, dissatisfied and extremely dissatisfied. Employee Motivation on Salary 18% 8% 4% 6.2. Work Schedule The shift personnel work in three shifts, morning from 06:00 to 14:00 hours, evening from 14:00 to 22:00 hours and night 22:00 to 06:00 hours. The general shift people work from 08:00 to 17:00 hours with one hour break for lunch & prayer. Also there is tea/snacks break for 15 minutes in the morning and 15 minutes in the afternoon. Table 2: Duty and Satisfaction Level of Workers Factors Satisfied Indifferent Dissatisfied Satisfied Dissatisfied Shift Duty 70% 10% 6% 8% 6% Normal Duty 85% 15% Overtime 50% 15% 12% 18% 5% Source: Unpublished dissertation report submitted to NUB, Khulna Campus 6.3. Working Environment Wartsila Bangladesh is certified on ISO 9001, & OHSAS To maintain these prestigious International certificates, working environment is always kept clean, tidy, hazard free. The overall working environment is very good and especially Housekeeping is excellent. Table 3: Workers Satisfaction towards Environment in Wartsila Bangladesh Factors Satisfied Satisfied Indifferent Dissatisfied Dissatisfied Engine Hall 60% 25% 5% 10% - Noise - 15% 20% 60% 5% Lighting 50% 25% 10% 15% - Sanitation 80% 20% Source: Unpublished dissertation report submitted to NUB, Khulna Campus 6.4. Transportation The company provides transportation facility for both shift personnel and general duty performers. For general employee there is a staff bus, for shift personnel there is microbus and for officers there are various types of vehicles. Table 4: Satisfaction Level of Workers towards Transportation in Wartsila Bangladesh Factors Satisfied Indifferent Dissatisfied Satisfied Dissatisfied Staff Bus 50% 25% 10% 15% - Microbus 40% 25% 20% 15% - Source: Employee handbook of Wartsila Bangladesh Limited VII. PROBLEMS AND RECOMMENDATIONS 70% Extremely Satisfied Satisfied Dissatisfied Extremely Dissatisfied Figure 1: Employee Motivation towards Salary The percentage of dissatisfied & extremely dissatisfied employees is very less and virtually they does not exist any de-motivated factors in terms of employee salary Problems Actually they do not want to disclose their salary range. But they have maximum satisfaction over their salary, what they are getting. According to their confidential comments, they have a little bit dissatisfaction. According to their comments they maintain three types of work schedule. Actually there are many organizations in our country that maintain these types of methods. But they have a bit dissatisfaction over these three types of work schedule i.e. 6:00 to 14:00 hours are morning, 14: 00 to 22:00 hours are evening, and 22:00 to 6:00 hours is night. ISSN: X 2016 Published by The Standard International Journals (The SIJ) 115

7 When all the engines are running noise level is extremely high. Noise level monitoring is done at different locations of the plant and those are within the limit of the regulatory body. But noise at engine hall is really high and employees are provided with high quality earmuff to protect themselves from noise exposure. Company arranges hired transports for shift personnel and a bus for general employees. The condition of the transports is not satisfactory. The bus does not accommodate all the day shift personnel and some of the employees come with their own arrangement. The plant is established in Khulna; the employees do not get any facilities which they may get in Dhaka. Like-life style, school facilities for the child, etc Recommendations From the above data we see, 4% employees are extremely dissatisfied, and 8% employees are dissatisfied with their salary. Mainly, the lower level employees are dissatisfied because they get lower amount of salary. And some employees, who have high expectation, may not be satisfied. My suggestion is organization should pay the salary on the equity basis. Minor portion of the employees are dissatisfied with working in various shifts. But organization cannot remove the shifts because this is a power generating company and there is no chance to stock up the power. So, this is necessary to run the organization on the shift basis. The management may introduce medical check-up for the employees who are exposed to high noise level. Hearing level of the employees may be monitored through medical check-up after every three years and if there is any deviation, the suffering employees may go for medical treatment. Company may hire proper vehicles in order to satisfy the employee needs. For general shift personnel a big bus with more sitting capacity may be hired so that all the employees of general shift are accommodated. It is a highly prestigious organization and employees are skilled, motivated, self-driven and result oriented. Their performance level is recommendable. Remuneration is commensurate with position responsibilities. The Management should try to keep the skilled hands so that there is no turnover of manpower. A housing scheme for all employees and car scheme for senior level officers may be introduced, which will further motivate the employees. VIII. POLICY IMPLICATIONS The following policy implications may be useful for overall improvement of Human Resources practices in the Wartsila Bangladesh Limited: WBD should offer extensive training and development programs to the employees; WBD should select right persons for the right jobs; WBD should have formal employee performance appraisal system. WBD should conduct pay survey regularly to offer competitive compensation to the employees. IX. CONCLUSIONS The term Human Resources refers to the people in an organization. When managers engage themselves in human resource (HR) activities as part of their jobs, they seek to facilitate the contribution people make to achieve an organization s strategies and plans. The importance of HR efforts comes from the realization that people are the common element in every organization; they create the strategies and innovations for which organizations are noted. As a slogan of HRM, Assets make things possible, people make things happen. Although human resource activities contribute to an organization s success in a variety of ways, ultimately they must support the company s strategies. This strategic management of human resources view requires that managers use HR efforts to further the firm s competitive advantage through plans and actions focused on contributing to the economic, or bottom-line success of the organization. This contribution must be made in ways that are ethical and socially responsible. REFERENCES [1] J.S. 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8 [12] W.P. Anthony, P.L. Perrewe & K.M. Kacmar (1999), Human Resource Management: A Strategic Approach, Harcourt Brace College Publishers. [13] E. Appelbaum, T. Bailey, P. Berg & A. Kalleberg (2000), Manufacturing Competitive Advantage: The Effects of High Performance Work Systems on Plant Performance and Company Outcomes, Cornell University Press. [14] S.H. Lee (2000), A Managerial Perspective of the Objectives of HRM Practices in Singapore: An Exploratory Study, Singapore Management Review, Vol. 22, No. 1, Pp. 65. [15] J.M. Buck & J.L. Watson (2002), Retaining Staff Employees: The Relationship between Human Resources Management Strategies and Organizational Commitment, Innovative Higher Education, Vol. 26, No. 3, Pp [16] H.J. Bernardin (2002), Human Resource Management: An Experiential Approach, Irwin Professional Pub. [17] T. Klaus, C. LeRouge & J.E. 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Boxall (2007), The Relationship between High-Performance Work Practices and Employee Attitudes: An Investigation of Additive and Interaction Effects, The International Journal of Human Resource Management, Vol. 18, No. 4, Pp [22] M.M. Haque & M.A. Taher (2008), Job Characteristics Model and Job Satisfaction: Age, Gender and Marital Status Effect, 7th International Conference on Ethics and Quality of Work- Life for Sustainable Development, Bangkok, Thailand. [23] G. Moorehead & R.W. Griffin (2010), Organizational Behaviour: Managing People and Organizations, South- Western/Cengage Learning. [24] J. Bratton & J. Gold (2012), Human Resource Management: Theory and Practice, Palgrave Macmillan. Kamrun Naher received M.B.A. (Masters) in Management & B.B.A. (Honors) in Management from University of Rajshahi, Bangladesh. She is presently working as a senior lecturer under Department of Business Administration at Sylhet International University, Bangladesh. Her area of interest is, Human Resource Management, International Business and Management. She participated in a number of professional trainings and workshops. She engaged with several types of social activities as a volunteer and contributing for the nation. She published on European Journal of Business and Management (volume 7, No 1, 2015) and the name of the article is Empirical study of the use of Automated Teller Machine (ATM) among bank customers in Dhaka city, Bangladesh. Md. Bashir Uddin received M.B.A. (Masters) in Management & B.B.A. (Honors) in Management from University of Rajshahi, Bangladesh. He is presently working as an Assistant Professor under Department of Business Administration at Sylhet International University, Bangladesh. His area of interest is, Human Resource Management, International Business and Management, strategic management, Project management. Currently he is doing his PhD on THE EFFECT OF E-SERVICE QUALITY AND PERCEIVED RISK ON CUSTOMER LOYALTY AMONG BANGLADESHI ONLINE BANKING CONSUMERS at International Islamic University Malaysia (IIUM). He participated in a number of professional Trainings and Workshops. He engaged with different types of Social academic activities as a Volunteer and Contributing for the Nation. He published some of the articles on Online Journals and features on several tracks. Meshkat Mahbub received B.B.A degree in Finance and Accounting from North South University Bangladesh. He is presently pursuing his MSc. Degree in Finance from International Islamic University Malaysia( IIUM). Currently he is doing research on The development of the financial sector impact on real sector among ASEAN countries. He published some journals in the area of Islamic Finance, Islamic Bank, Human Resource Management, International Finance and Marketing. Anisul Mannan Shammo received B.B.A degree in Finance from International Islamic University Malaysia. He is currently pursuing his MSc. Degree in Finance from International Islamic University Malaysia. He published some journals in the field if Islamic Finance and Islamic Bank. He has already completed his academic research with distinct grade in the area of International Finance. His area of interest is risk analysis and stock market volatility measurement. Md. Robiul Islam pursuing Doctor of Philosophy Title Measurement of Reporting Disclosures of Islamic Financial Institutions in Bangladesh at International Islamic University Malaysia. He is a graduated of Rajshahi University BBS Honors in Accounting and MBA major in Accounting and awarded University Prize for holding First position in order of merit. He is working as an Assistant Professor at Bangladesh Islami University earlier he was a senior lecturer at Northern University Bangladesh. At present he is teaching on Principles of Accounting, Financial Accounting, Intermediate Accounting, Cost Accounting, Management Accounting, Accounting for Managerial Control, Auditing, Tax Accounting, Zakat Accounting, Business Communication, Industrial Law, Company Act, Corporate Reporting and Financial Statement Analysis, International Accounting etc. He is member of various social and cultural organizations. He participated on various professional Trainings. He published a lot of academic books and articles on numerous trails. ISSN: X 2016 Published by The Standard International Journals (The SIJ) 117