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Training and Development Process of Mercantile Bank Ltd

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    Title of the report “Training and Development Process of Mercantile Bank Ltd” 2 . 0 Introduction: Training and development- In simple terms, training and development refers to the imparting of specific skills, abilities and knowledge to an employee. A formal definition of training & development is-attempt to improve current or future employee performance by increasing an employee’s ability to perform through learning, usually by changing the employee’s attitude or increasing his or her skills and knowledge.

    The need for training & development is determined by the employee’s performance deficiency, computed as follows- Training and development needs=standard performance-actual performance Training is means operatives; on the other hand development means employees in higher position. Importance of Training The following are a few importance of training: * To develop the skills of human resources. * To prepare the employee as a valuable asset. * To create positive attitude towards the responsibilities. * To provide necessary information to the management. To control wastage. * Development of human relation * To increase job satisfaction. Training and development is needed because they enhance employees’ skills and reveal hidden capabilities in the area in which they work. By training and developing workers, the productivity of a company can be increased and company growth in many areas can be realized. This increases company profitability and (hopefully) allows employees to make more money and rise in the company structure. 2. 1 Rationale: As an intern at the mercantile bank ltd, my duty was in the HR department.

    Having practical experience though this internship has enhanced my knowledge regarding the overall HR system in the mercantile bank ltd but more focus on training and development department. As I had real-life experience, I can focus on the training and development of the mercantile bank ltd and to show others that this is how the training and development is done in most of the bank in Bangladesh. This study is done in partial fulfillment for my Bachelors Degree. Though this is just partial, but it will help me to gain practical knowledge which I can implement in my future career, as well as in my real life.

    This work-study report will help my university faculties to understand the knowledge of training and development in a wide manner ensuring the difference between the theoretical knowledge and the practical implementations in the corporate world. I believe it to be a useful resource for others i. e. students, knowledge seekers, researchers and others, to have a brighter view of the HR practices in banks and to business in other sectors with similar hierarchy. 2. 2 Background of the Organization Mercantile Bank Limited was incorporated in Bangladesh on May 20, 1999 as a scheduled bank in the private sector.

    The bank went into commercial banking operation since June 02, 1999. The first branch was opened at Dilkusha Commercial area in Dhaka on the same day. They have 79 branches. The organizational structure and corporate governance of Mercantile Bank Limited strongly reflect its determination to establish, uphold and gain a stronger footing as an organization, which is customer-oriented and transparent in its management. . The bank provides a broad range of financial services to its customers and corporate cli 2. 2. 1 Mission:

    Will become most caring, focused for equitable growth based on diversified deployment of resources, and nevertheless would remain healthy and gainfully profitable bank. Mercantile Bank Limited aims to become one of the leading Banks in Bangladesh by prudence, flair and quality of operations in their banking sector. The bank has some mission to achieve the organizational goals. Some of them are- (1) Its aim is to ensure their competitive advantages by upgrading banking technology and information system. (2) MBL intends to provide better benefits to their customers and good returns to heir shareholders. (3) The bank intends to meet the needs of their clients and enhance their profitability by creating corporate culture. (4) Mercantile Bank Limited provides high quality financial services to strengthen the well-being and success of individual, industries, and business communities. (5) The bank believes in strong capitalization. (6) It maintains high standard of corporate and business ethics. (7) Mercantile Bank Limited extend highest quality of service, which attracts the customers to choose them first. (8) The bank creates wealth for the shareholders. 9) The bank maintains congenial atmosphere for which people are proud and eager to word with Mercantile Bank Limited. (10) MBL believes in discipline strategy. (11) MBL encourages investors to boost up share market. (12) MBL intends to play more important role in the economic development of Bangladesh and its financial relations with the rest of the world by interlinking both modernistic and international operations. 2. 2. 2 Vision: Would make finest corporate citizen. 2. 2. 3 Strategic Objective of MBL: * To achieve positive Economic Value Added (EVA) each year. To be market leader in product innovation. * To be one of the top three Financial Institutions in Bangladesh in terms of cost efficiency. * To be one of the top five Financial Institutions in Bangladesh in terms of market share in all significant market segments we serve. 2. 2. 4 Financial Objective * To achieve 20% return on shareholders’ equity or more, on average. 2. 2. 5 Core values For the customers: providing with caring services by being innovative in the development of new banking products and services. For the shareholders: Maximizing wealth of the Bank. For the employees: especting worth and dignity of individual employees devoting their energies for the progress of the Bank. For the community: Strengthening the corporate values and taking environment and social risks and reward into account. 2. 2. 6 New Technology: Adopting the state-of-the art technology in banking operations. 2. 2. 7 Goals of the Bank: To develop- * a realistic deposit mobilization plan * an appropriate lending risk assessment system * capital plan * a system to make good advances * a recruitment, compensation, training and orientation plan * a plan for offering better customer services appropriate management structure, system, procedures and approaches * Scientific MIS to monitor Bank’s activities. 2. 2. 8 Business Ideology: Alongside providing best service to the clients, patronizing and taking part in social development activities as well as making due contribution to growth of the national economy. 2. 2. 9 Technology: At present, all banking transactions of Mercantile Bank Limited are fully automated. Moreover, all activities of trade and operations are being done through computers and other automation tools Such as ATM, SWIFT.

    The bank is the member of the shared ATM Network provided by Electronic Transaction Network ltd. (ETN). At present 25 ATM booths are available all over Dhaka city and in the cities of Chittagong and Sylhet. In order to provide round-the-clock and correct information on the bank to the business community all over the world, the bank has a web page which can be accessed under the domain name: www. southeastbank-bangladesh. com. Bank has made an agreement with Square Informatics Ltd to have real time on-line transaction facility.

    The bank facilitates its clients to deposit, draw or remit funds from their accounts from one branch to another by providing on-line banking services. 2. 2. 10 Organizational Structure- Board of Directors Chief Advisor Managing Director & CEO Deputy Managing Director GSD, CAD, A&I, GB, D&M Deputy Managing Director Company Secretary Senior Executive Vice President Senior Vice President Executive Vice President Vice President First Vice President Assistant Vice President First Assistant Vice President

    Principle Officer Senior Executive Officer Executive Officer Officer Assistant Officer Trainee Asst: Officer Organ gram Chairman 2. 3 Objective of the Report- This report will be help me to gained knowledge through working at HR department and training and development department of mercantile bank ltd. Through the making of this report. To produce skilled hr officer, only theoretical knowledge in the field of banking studies is not sufficient. An academic course of the study has a great value when it has practical application in real life situation.

    So, I need proper application of my knowledge to get some benefit from my theoretical knowledge to make it more tactful. When I engage myself in such fields to make proper use of my theoretical knowledge in my practical life situation such an application is made possible through internship. When theoretical knowledge is obtained from a course of study at only the half way of the subject matter Internship implies on other the full application of the methods and procedures through rich acquired of subject matter can be forcefully applied in my day to day life situation.

    Such a procedure of practical application is known as internship. To relate the theoretical knowledge with the practice we the student of BBA were assigned in the practical orientation in bank. During my learner period, I was attached with Mercantile Bank Limited, Rampura Branch located in Prince Tower authority. The Officer of this Branch help me to perform practical jobs in different department at different desk which help me to gather some practical knowledge for various banking functions and completed this report. Here I find to achieve the following specific objectives- To analyze about the training and development process of the bank * To know about the compensation and benefit process practiced in the bank * To understand the safety and health procedure of the bank * To get knowledge how the hr function in mercantile bank ltd * To fulfill the requirement of the internship program * To suggests MBL for their better improvement 3. 0 Activities Undertaken- The three months internship program in mercantile bank ltd, I worked at different department of mercantile bank learned many things about banking ector. but I spend many times with hr department gained many knowledge about HRM,specialy training and development pert of HRM. and also my topic is training and development process of mercantile bank ltd. so here I describe about training and development process of mercantile bank ltd. 3. 1 Work Related: 3. 1. 1 Human Resource Department in Mercantile Bank Ltd- The Human resource department of Mercantile Bank Limited performs many different roles and responsibilities.

    They take full responsibility for human activities like employment are recruiting, training and development, employee services, employee and community relations, personnel records, rewarding employees etc. The HR officers of this bank are very much concern to design and deliver efficient and effective HRM system, process and practices. They spend a lot of time to ensure employee’s satisfaction. They work on finding creative ways to ensure a positive and encouraging work environment. 3. 1. Training and Development- Human beings are the most important resources of an organization. It is a fact that without human resources physical resources of an organization become useless. An organization may have enough cash in its bank. Its workshop may be supplied with most sophisticated machines and its stores may be over flowing with superior quality raw materials. Yet all these would be of no use if employees are not properly trained, motivated, dedicated and utilized effectively. Training is a process of helping individuals to perform their assigned tasks more efficiently.

    It is a systematic process for bringing about a developmental change in knowledge, skill and attitude of the employees of an organization to achieve desired goals of the organization. Training is a continuous process; there is no end of it. With the changes of jobs training becomes essential on the part of the old employees also. The Bank has set up Training Institute for providing training facilities to its executives/officers. The Training Institute has already conducted a number of foundations and specialized training courses.

    A number of officers were sent to Bangladesh Institute of Bank Management (BIBM) and other training institutes at home and abroad for specialized training on various aspects of banking. The Bank believes in professional excellence and considers its working force as its most valuable asset and the basis of its efficiency and strength. MBL sends the employee to training institute for training. In this training season the trainer train them about the general banking, foreign exchange and credit department. It’s called basic banking. This training is available for every employee. It takes one week or 2 or 3 days.

    But senior executive or FVP or VP they also take training for skill. MBL gives the best training or the employee so that they can easily do their work. After training they can easily do their banking. 3. 1. 3 Training and Development Objective: * . To help the employees perform more effectively in their jobs * To prepare the employees for future growth and advancement by providing supervisory and other management programs. * To building effective work teams through developing staff communications and interpersonal skills. * To inculcate a sense of dedication to highest quality. * Development of human relation To increase job satisfaction. * To keep an employee up-to-date with changes those affect the business environment. 3. 1. 4 MBL Training Plan: * Clear understanding of the short term as well as the long term goals of the MBL. * Understanding of the MBL policies and programs * Clear understanding of the business plan of the MBL. * Preparation of manpower plan manpower demand plan and manpower supply plan * Preparation of training plan short term and long term. * Implementing the training plan * Evaluation of the training programme or plan * Reorganize the training plan (if necessary).

    Process of preparing Training Plan- Organizational goals| Organizational policies & programmes| Business plan| Manpower plan| Manpower demand plan| | Manpower supply plan| Training plan| Short tern| | Long term| Figure: 1-Process of preparing Training Plan 3. 1. 5 Employee Benefit: Employee benefit is one of the most important parts of total compensation package, other then pay for time worked provided to employees in whole or in part by employer payment (life insurance, pension, workers compensation, vacation etc. ). Employee benefits are the indirect form of total compensation.

    It includes paid time away from work place, insurance and health protection, employee service or other retirement income. The component of benefit plan should complement the remainder of the compensation program. If major compensation objective is to attract good employees the benefit program should be designed with rapid or instant eligibility provisions and attractive vesting requirements. The benefit program should be more cost effective, adequate and competitive. The benefit program of Mercantile Bank ltd involves in four objectives such as: * Fostering external competitiveness * Increasing cost effectiveness Meeting individual employees need and preferences The configuration of the benefit package must consistent with the strategy of the overall compensation system of MBL & help to achieve them to gain organizational objective. Mercantile bank is one of leading private bank in Bangladesh who believe in effective compensation & benefit system and they implement compensation & benefit system, in such a way that can meet each and every employees demand, their compensation system are the mixture of both compensation & non compensation system.

    Their benefit system design in such a way that can fulfill employees personal requirement. 3. 2 Organizational Wide Activities- In Rampura branch of mercantile bank ltd. Their are four different departments. Each and every department is closely related with each other, those departments are: * General banking-in this department different types of account will be opened like-Mss account, Fixed deposit account, Current account, Savings account, Student account and also doing voucher sorting, inward and outward mailing,payorder etc.

    Mainly this type of work doing in general banking department. * Loan Department-there are different types of loan given to the customer like- > Transport Loan > Consumer Credit Scheme > Real Estate Loan (Res. & Comm. ) > Loan Against. Accepted Bill > Industrial Term Loan > Agricultural Term Loan > Lease Finance > Personal loan * Hr Department- The Human resource department of Mercantile Bank Limited performs many different roles and responsibilities like-give proper training to the employee, employee benefit, performance bonus, recruiting, staffing and so on. ll activities undertaken this department. * IT Department-The hall banking system monitoring by IT sector. This department plays very important roles. IT department mainly maintain hall banking software system of this organization. Every department has different function. Their working policy also different, but related with each other’s worked in two department. Mainly I work in HR department. Now I am in general banking department. next I will go to the another two section gain many things those department like-how general banking activities operated and what is system of HR department. 3. Others Activities- Mercantile bank ltd also involved some other activities like-they give education loan to the student. They also give scholarship to the student. Recently MBL provide “ABDUL JALIL EDUCATION SCHOLERSHIP” to the student. Student who save money for their future, MBL provide for them student savings account. 4. 0 Constraints Observed in the Organization- Every organization has some weakness or lacking. No one cannot be perfect. Everybody has some problem that would be little or big problem. So mercantile bank is not different from other, mercantile bank also has some weakness.

    During internship period I observed some problem and also find some weakness or lacking of mercantile bank. So, those are describing in the below- * Though the space of the branch is much extended, so different function can be done very easily but I think the overall decoration of the entire branch is necessarily to be reconstructed for attracting actual and potential customers in competitive market * Accounts opening department is required to be well furnished with modern desk * Most of the officers, who work with computer, are not so well trained.

    If sometimes any problem arises they take time to overcome it * Front Desk needs another permanent officer to perform the job quickly * The bank use software named Flex-cube Retail which is good but it needs lots of improvement to perform better and provide faster service to the customer * The location of the MBL, Rampura Branch is quite awkward for deposit mobilization. * The poor quality of the ATM card * Sometimes ATM booth does not properly work * Sometimes create problem on using new techniques of transaction

    So, this thing I mainly observed in the organization during my three months internship program. Their working process was very good but I already mention that every organization have some problem so mercantile bank also facing some problem. If they solved their problem they will be become a leading bank in the Bangladesh. 4. 1) Academic preparation: I already mention that –every organization have some problem. so I have found some mismatch between what I have observed in mercantile bank ltd and what I have learned from my university in different types of courses.

    My major is human resource management at university. So, I got some differences with this at mercantile bank ltd. some of that difference are given below- * Mercantile bank has not proper planning about their banking system. * In my university, I have learned that-every employee must need training for their better future carrier but I found that most of the employees are not interested about training program. * Mercantile bank is still following traditional salary structure, rather than broadband salary structure.

    So, this are some mismatch between what I have observed in the mercantile bank and what I have learned from my university in different types of courses. Although I learn many things from this organization which help me to build a nice career. 5. 0 Lessons Learned from the Internship Program: During the internship program, I have learned lots of new things and gathered lots of knowledge. That was really helpful and important. 5. 1 Implications of Organization- From this internship program by working at mercantile bank ltd. i learned so many things . hat was a great opportunity for me to work a bank like that. Experience that I gain from mercantile bank is given bellow- * By working at mercantile bank was a huge opportunity for me * Working at MBL learned about the office environment * Practical experience about organization culture * Working at MBL I learned how to adjust in different situation in an organization * Doing in my internship program I leaned about basic idea about bank * I also know how to control and maintain an organization * I also know about the general banking I know about how to open account * How to do pay order * How to transfer an account * How to close an account * And also how to control MSS, FDR and so on * In hr department I learned how to train a employee and developed their skilled * And how to hr department control the hall organization * I learned how to participate in an office * How to converse with boss and top level management and so on I think that, I will be benefited a lot from this program in future. It also to develop my future career. 5. 2 Implications to University’s Internship Program-

    After doing my job at general banking and hr department mercantile bank ltd,I learned many things and also practice many things during this period. Then I have made this affiliation report. When I prepare this report this job help me a lot and also gathered many real life work experience of three months internship program. This working experience will be very effective for me in my future. In my university I have learned different things in different courses heard many things about organization culture, its environment and so on but never observe practically.

    By doing this internship program I observe that things practically. I know many things about organization environment, working style, and office rules, how to manage in different situation and so on. Basicaly I observe an organization very deeply. From this internship program I learned how to create a team and also know how to leads a team. So, atlast I say that this three months internship program is very important for my upcoming career and also fulfill my university requirements. 5. 3 Others- Besides the work related things, I also learned some special things like-how o make public communication, how to maintain good relation to the co-workers. how to maintain punctuality,sincerity,good attitude etc. there are many things like this I learned from my work. So,I thing this knowledge help me lot in my future. 6. 0 Concluding Statement 6. 1 Recommendation for Future Strategic Action- I had the practical exposure in Mercantile Bank Ltd. for just three months, with my little experience in the bank in comparison with vast and complex banking system; it is not so easy to recommend some suggestion to enhance the performance level of the organization.

    I have observed some shortcomings regarding operational and other aspects of their banking. On the basis of my observation I would like to present the following recommendations- * MBL can provide more training facilities for their employees to make their employees more effective & highly resourceful * Counter should be neat and clean and counter personnel should be smart, tidy and well groomed * The officers of the different department should be well trained.

    The organisation could arrange training program for them in their training institute * In cash department to ensure more prompt service and to reduce risk an electronic scanning machine should be installed to verify signature on the cheques * All the PC’s should be more modernized * To print the important & confidential office documents there should be at least one laser printer * When customer approaches bank personnel with a problem, which is not actually related to him, the customer should not be avoided.

    Rather he should be guided to the relevant person * MBL should improve their HRM department * It can implement contingent workforce practices to increase cost effectiveness & quality of work * MBL should try to change their training and development plan little bit * They must promote more branches * MBL can introduce pension facilities for the employees . Which help their employees to make their retirement plan more secured * Strict supervision must be adopted in case of high-risk borrowers.

    Time to time visit to the project should be done by the bank official * Should place an electronic display board whereby the important information related to the banks products & schemes would be displayed * MBL can introduce employee stock ownership program for their employees * Team based work is very important for every organization, but team-based work is very rare in MBL. They must be work together with team based * At the peak-banking hour, Manager should move around CD/SB Departments and counters for overall supervision and smooth functioning of the branch

    It is obvious that the bank will expand day by day so is the customer. According to the chairman, the trust is the greatest asset of the Mercantile Bank Limited. So if the MBL wants to continue a profitable business and position itself as one of the top banks in the bank arena then it has to earn the trust of their assets. To do so MBL must keep pace with their growing customer needs in the ever changing world. Customers now demand not only a high interest but also faster and better service 6. 2 Summary- Mercantile bank always give emphasis on Human Resources Management and Development.

    With experienced efficient personnel they build up excellence in service with efficiency, accuracy and proficiency and extended its arms towards meeting its social obligations. Human resource development is the most crucial factor for mercantile bank’s growth. They often do it through continuous and need based training. They equip their employees, with corporate values, operational skills and proper motivation to serve their customers better in a modernized work environment, the bank continuously upgrades their professionals by enriching knowledge and skill to provide excellent customer service.

    After taking effective and time defeating measures regarding efficient employees and instruments will help the MBL to reach the summit of success with high profit and productivity & increase MBL performance day by day. I am a student of BBA Program my major was on HRM, I have completed my internship from Mercantile Bank Limited, because I want to build up my carrier with Banking. During internship program at Rampura Branch of Mercantile bank Limited . I have been observed and I have found theory deviations more or less. However, I have enjoyed my three months internship at MBL. I have gathered HRM knowledge from MBL.

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