HR practices in Renata limited
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Bangladesh is a developing country in south Asia. Its economy depends mostly on agriculture. In the earliest period jute and tea industry were very raising industry. But the scenario is changed. Now our economy mostly depends on Ready Made Garments industry. Apart from garments industry Pharmaceuticals industry is a raising industry in Bangladesh. So the scenario is changing. Now there are 225 registered pharmaceutical companies in our country. Most of them are local, but there are also some multinational and joint venture companies operating their business in our country. They are also contributing to earn foreign exchange in our country. Renata is one of the most leading pharmaceuticals company in Bangladesh. Its corporate headquarters is at plot no- 1, milk vita road, sec- 7, mirpur and it has two production sites (one is at Mirpur and another is at Rajendrapur). Modern sophisticated machineries and highly qualified and skilled professionals are the main instrument for this Renata’s success. In this report we have gone through the overall HR policies and practices of Renata Limited. Renata’s HR functions like Recruitment & Selection, Training & Development, Compensation & Benefit and Employee relation are very systematic and legal. Renata always tries to recruit efficient candidates for the vacant position. They provide management development training, overseas training, and Field forces training and development program, manager training, training program for distribution assignments and data entry operations, on the job training and off the job training, basic training and advanced training etc. Renata concentrates on employee development as well. They provide appropriate compensation and benefits like basic salary, over time, gratuity, different types of bonus etc. I have found that Renata’s HR policies and practices are systemic and sound enough but yet there are some problems like (few misunderstanding, lack of appropriate training to reduce faults). Remove misunderstanding and provide training and appropriate compensation when any accident occurs, authority should cooperate their employees to the problems. I think that is the way they should follow to improve and expand its business.