Comparative analysis of HRM among three leading companies in Bangladesh
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Human resource Management is very crucial for the success of any company, because the success of any organization depends on its Human Resource department. It is the heart of any organization. So in this competitive business world, the Human Resource department of any organization has to be well structured and strong formulated. In this report, I want to find out a well-structured HRM process, which is very important for any organization in this changing business world. For this, I want to compare the HR process of ACI Ltd. with one multinational co. like Novartis (Bangladesh) Ltd. and one indigenous co. name as Square.By interviewing, I want to know about the recruitment and selection process, training method, performance appraisal and employee benefit of the concerned three renowned companies. From which a standard HRM process bring out and give specific guidelines of operations of HRD with a vision to ensure quality policy and maintain the expected standards of operations of any organization. The recruitment processes of ACI Limited starts from line manager/dept. head and end to the Managing Director. Through HRD both internal and external factors influence their recruitment process. The co. mostly recruits their employees from external sources like advertising, employment agency. The recruitment processes of Square starts from line manager and end to the MD, as like as ACI Limited. No factors can affect their recruitment process. The external sources are very effective in recruitment such as advertising, employment agencies and campus visit. The recruitment processes of Novartis (Bangladesh) Ltd. starts from line manager and end to the HRD. The internal factors influence their recruitment process. They recruit the employees from both internal and external sources. The selection procedure of ACI, Novartis and Square more or less are same. They use written test, IQ test, and interview and salary negotiation.ACI Ltd. measures their employee performance by Balance Score Card or Action Plan for this the co. uses the method of MBO and 360-degree evaluation. By Job Description Square measure their employee performance and by the method of MBO the co. acquire selfassessment in their organization. Novartis also measure their employee performance by task oriented and behavior oriented way. MBO, 360-degree feedback and SMART are also the method of measuring employee performance in Novartis.The co. provides benefit such as gratuity, provident fund, medical facility, festival bonus, loan facility, annual leave, etc. These facilities more or less are same in the concerned three organizations, but their procedure is different. From the comparison of ACI Ltd. with Square and Novartis I can find out some strengths and weaknesses which are The recruitment planning is well structured in ACI Ltd. than Square and Novartis. The recruitment planning of ACI Ltd. is very strong than Square and Novartis, but the procedure is lengthy. The selection procedure is well structured in the concerned three companies. The performance appraisal method i.e. BSC and 360-degree evaluation are very effective in ACI Ltd. whereas MBO in Square and 360-degree evaluation in Novartis. Communication gap exists in the concerned three companies. Though employee benefit is not so good in ACI Ltd. as like as Square and Novartis. But their medical facility and annual leave are well than other two companies.To overcome the weakness of ACI Ltd. some recommendations are given The co. has to reduce the time length to recruit employees. The co. has to go campus visit for employee recruitment. The co. has to reduce the communication gap. The employee benefits of ACI Ltd. have to be updated.