Dipan 78

Report
On
“Present changes & future HRM practice in
private Organization in Bangladesh.”
Submitted to
Dr. Dhananjoy Kumar
Professor,
DEPARTMENT OF MANAGEMENT
ISLAMIC UNIVERSITY, BANGLADESH
Submitted by
Dipan Aich
Session: 2018-19
ID: 1832078
DEPARTMENT OF HUMAN RESOURCE MANAGEMENT
ISLAMIC UNIVERSITY, BANGLADESH
DATE OF SUBMISSION: 01/06/2024
Introduction
Human Resource Management (HRM) is an essential function that involves
the strategic management of an organization's most valuable assets—its
people. In today's rapidly changing business environment, HRM practices
must evolve to meet new challenges and seize emerging opportunities. City
Group, one of the largest conglomerates in Bangladesh, has been undergoing
significant changes in its HRM practices to align with its strategic goals and
the dynamic market landscape. This report explores the current and future
HRM practices at City Group, providing insights into the significance of these
changes and recommendations for further improvements.
Significance of the Study

The study of HRM practices at City Group is significant for several reasons:
 Operational Efficiency: Effective HRM practices enhance operational efficiency by

optimizing workforce productivity and performance.
 Employee Engagement: Understanding and improving HRM practices can lead to higher
employee engagement, satisfaction, and retention.
 Adaptability: In a fast-evolving business environment, adaptable HRM practices ensure that
the organization can respond swiftly to changes.
 Benchmarking: This study provides a benchmark for other companies in similar industries,
highlighting best practices and areas for improvement.
 Strategic Alignment: Aligning HRM practices with organizational strategy is crucial for
achieving long-term business objectives.
Organization Profile
City Group is a leading conglomerate in Bangladesh, established in 1972.
Over the decades, City Group has diversified its operations across various
sectors, including food and beverage, steel, energy, packaging, shipbuilding,
and more. The group employs over 10,000 people and has a strong presence
in both domestic and international markets. Some of its well-known brands
include Teer (edible oil), Ifad (flour products), and Sundarban (gas). City
Group's commitment to quality, innovation, and customer satisfaction has
made it a household name in Bangladesh.
Discussion
Current HRM Practices
1. Recruitment and Selection:
City Group employs a comprehensive recruitment and selection process designed to attract and
retain top talent:
 Job Analysis and Description: Detailed job roles and responsibilities are clearly defined
to match the right candidates to the right positions.
 Recruitment Channels: Utilization of various channels, including job portals, campus
recruitment drives, and employee referrals.
 Selection Process: Multi-stage selection involving written tests, interviews, and practical
assessments to evaluate candidates' technical and soft skills.
2. Training and Development:

City Group places a strong emphasis on continuous learning and development:
 Induction Programs: Comprehensive onboarding programs to familiarize new employees

with the company’s culture, policies, and operational procedures.
 Technical Training: Regular training sessions on the latest industry technologies and
practices.
 Leadership Development: Programs aimed at identifying and nurturing future leaders
within the organization.
 E-learning Platforms: Provision of online courses and modules for continuous learning
and skill development.
3. Performance Management:
City Group has a structured performance management system to ensure employee alignment
with organizational goals:
 Performance Appraisals: Annual reviews based on predefined criteria and key

performance indicators (KPIs).
 Feedback Mechanisms: Regular feedback sessions to discuss performance and identify
areas for improvement.
 Reward Systems: Performance-based rewards and recognition programs to motivate
employees and encourage high performance.
4. Compensation and Benefits:

City Group offers a competitive compensation and benefits package to attract and retain top
talent:
 Salaries: Competitive pay scales benchmarked against industry standards.

 **Health Benefits:** Comprehensive health insurance plans for employees and their
families.
 **Retirement Plans:** Provident fund and pension schemes to secure employees’
futures.
 **Bonuses:** Performance-based bonuses and incentives.
**5. Employee Relations:**

City Group maintains a strong focus on fostering positive employee relations through:
 **Open Communication:** Encouraging open dialogue between management and

employees to address concerns and suggestions.
 **Employee Engagement:** Regular surveys and feedback mechanisms to gauge
employee satisfaction and engagement.
 **Conflict Resolution:** Effective mechanisms to address and resolve workplace
conflicts promptly.
### Recent Changes in HRM Practices
**1. Digital Transformation:**

City Group has embraced digital transformation to enhance its HR processes:
 **HR Management Systems (HRMS):** Implementation of HRMS for streamlined

recruitment, payroll, and performance management.
 **Digital Recruitment:** Use of online platforms and AI-driven tools for efficient
candidate sourcing and selection.
 **E-Learning Platforms:** Expansion of digital learning resources to facilitate
continuous employee development.
**2. Focus on Diversity and Inclusion:**

City Group is committed to creating a diverse and inclusive workplace:
 **Diversity Hiring:** Targeted recruitment strategies to increase the representation of

women and minorities.
 **Inclusion Programs:** Training and awareness programs to promote a culture of
inclusivity and respect within the organization.
**3. Enhanced Training Programs:**

With the advent of new technologies, City Group has expanded its training programs to include:
 **Digital Skills Training:** Programs to enhance employees’ digital literacy and

proficiency.
 **Cybersecurity Training:** Specialized training on cybersecurity practices to protect
company data and systems.
 **Advanced Engineering Practices:** Training on the latest engineering methodologies
and technologies to keep the workforce updated.
**4. Employee Well-being Programs:**
Recognizing the importance of employee well-being, City Group has introduced several wellness
initiatives:
 **Counseling Services:** Access to professional counseling for mental health support.

 **Stress Management Workshops:** Workshops and seminars on stress management
techniques.
 **Fitness Programs:** On-site fitness facilities and wellness programs to promote
physical health and well-being.
### Future HRM Strategies
**1. Strategic Workforce Planning:**

City Group should implement strategic workforce planning to align its HRM practices with long-
term business goals:
 **Forecasting:** Anticipating future skill requirements based on industry trends and

business objectives.
 **Talent Pipeline:** Developing a talent pipeline through targeted recruitment, training,
and succession planning.
**2. Embracing AI and Automation:**

Leveraging artificial intelligence (AI) and automation in HR processes can enhance efficiency
and accuracy:
 **AI-Driven Recruitment:** Using AI tools to screen resumes and identify top

candidates.
 **Automated Onboarding:** Implementing automated onboarding systems to streamline
the induction process.
 **Performance Analytics:** Using data analytics to monitor and improve employee
performance and engagement.
**3. Leadership Development:**

Investing in leadership development programs is crucial for building a strong leadership pipeline:
 **High-Potential Programs:** Identifying and nurturing high-potential employees

through specialized development programs.
 **Mentorship:** Establishing mentorship programs to guide and support emerging
leaders within the organization.
**4. Sustainability and CSR Initiatives:**

Integrating sustainability and corporate social responsibility (CSR) into HRM practices can
enhance City Group's reputation and employee engagement:
 **Environmental Training:** Educating employees on sustainable practices and

environmental conservation.
 **Community Outreach:** Encouraging employees to participate in community service
and outreach programs.
**5. Flexible Work Arrangements:**

Post-pandemic, flexible work arrangements have become more relevant. City Group should
explore options to offer more flexibility to employees:
 **Remote Work:** Implementing policies for remote work where feasible.

 **Flexible Hours:** Allowing flexible work hours to accommodate employees’ personal
needs and enhance work-life balance.
Findings & Recommendations

#### Findings
**Strengths:**
1. **Structured Recruitment Process:** City Group has a well-defined

recruitment and selection process that ensures the hiring of skilled
professionals.
2. **Continuous Training Programs:** Ongoing training and development
initiatives help employees stay updated with industry trends and
advancements.
3. **Performance Management System:** The performance management
system is comprehensive, providing clear objectives and regular feedback.
4. **Competitive Compensation:** City Group offers a competitive
compensation package that attracts and retains talent.
**Weaknesses:**
1. **Limited Diversity:** There is a need to enhance diversity within the

workforce.
2. **Need for Enhanced Digital Skills:** Employees require more training in
digital skills to keep pace with technological advancements.
3. New Well-being Programs: Employee well-being programs are relatively
new and need further development and integration into the overall HR
strategy.
Recommendations
1. Enhance Diversity and Inclusion:
 Implement targeted recruitment strategies to increase workforce diversity.

 Conduct regular diversity training and create employee resource groups to foster an
inclusive culture within the organization.
2. Invest in Digital Skills Training:
 Expand digital literacy programs to include all employees, ensuring they are equipped
with necessary digital skills to perform their roles effectively.
 Partner with technology providers for specialized training sessions to keep employees
abreast of the latest technological advancements and industry best practices.
3. Strengthen Employee Well-being Initiatives:
 Regularly evaluate and improve wellness programs based on employee feedback and
emerging best practices in the field of employee well-being.
 Promote a healthy work-life balance through flexible work policies and wellness
programs, ensuring that employees are supported both professionally and personally.
4. Adopt Advanced HR Technologies:
 Implement AI-driven tools for recruitment, performance management, and employee

engagement to enhance efficiency and decision-making in HR processes.
 Utilize data analytics to inform HR strategies and track the effectiveness of HR
initiatives, ensuring continuous improvement in HR practices.
5. Focus on Sustainability:
 Integrate sustainability goals into HR policies and practices to support City Group’s
overall sustainability objectives and corporate social responsibility initiatives.
 Encourage employees to participate in CSR activities and environmental initiatives to
foster a sense of corporate social responsibility and community involvement.
Conclusion
City Group stands at a pivotal point where effective HRM practices can
significantly influence its future success. By embracing digital
transformation, fostering a diverse and inclusive workplace, investing in
employee development, and prioritizing well-being, City Group can enhance
its operational efficiency and employee satisfaction. The recommended
strategies aim to prepare City Group for future challenges and opportunities,
ensuring it remains a leader in the diverse sectors it operates in.
Implementing these changes will not only benefit the organization but also
contribute.

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Report

DATE OF SUBMISSION: 01/06/2024

Significance of the Study

 Operational Efficiency: Effective HRM practices enhance operational efficiency by

2. Training and Development:

 Induction Programs: Comprehensive onboarding programs to familiarize new employees

 Performance Appraisals: Annual reviews based on predefined criteria and key

4. Compensation and Benefits:

 Salaries: Competitive pay scales benchmarked against industry standards.

**5. Employee Relations:**

 **Open Communication:** Encouraging open dialogue between management and

### Recent Changes in HRM Practices

**1. Digital Transformation:**

 **HR Management Systems (HRMS):** Implementation of HRMS for streamlined

**2. Focus on Diversity and Inclusion:**

 **Diversity Hiring:** Targeted recruitment strategies to increase the representation of

**3. Enhanced Training Programs:**

 **Digital Skills Training:** Programs to enhance employees’ digital literacy and

 **Counseling Services:** Access to professional counseling for mental health support.

### Future HRM Strategies

**1. Strategic Workforce Planning:**

 **Forecasting:** Anticipating future skill requirements based on industry trends and

**2. Embracing AI and Automation:**

 **AI-Driven Recruitment:** Using AI tools to screen resumes and identify top

**3. Leadership Development:**

 **High-Potential Programs:** Identifying and nurturing high-potential employees

**4. Sustainability and CSR Initiatives:**

 **Environmental Training:** Educating employees on sustainable practices and

**5. Flexible Work Arrangements:**

 **Remote Work:** Implementing policies for remote work where feasible.

Findings & Recommendations

1. **Structured Recruitment Process:** City Group has a well-defined

1. **Limited Diversity:** There is a need to enhance diversity within the

1. Enhance Diversity and Inclusion:

 Implement targeted recruitment strategies to increase workforce diversity.

2. Invest in Digital Skills Training:

3. Strengthen Employee Well-being Initiatives:

4. Adopt Advanced HR Technologies:

 Implement AI-driven tools for recruitment, performance management, and employee

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5. Employee Relations:

 Open Communication: Encouraging open dialogue between management and

1. Digital Transformation:

 HR Management Systems (HRMS): Implementation of HRMS for streamlined

2. Focus on Diversity and Inclusion:

 Diversity Hiring: Targeted recruitment strategies to increase the representation of

3. Enhanced Training Programs:

 Digital Skills Training: Programs to enhance employees’ digital literacy and

 Counseling Services: Access to professional counseling for mental health support.

1. Strategic Workforce Planning:

 Forecasting: Anticipating future skill requirements based on industry trends and

2. Embracing AI and Automation:

 AI-Driven Recruitment: Using AI tools to screen resumes and identify top

3. Leadership Development:

 High-Potential Programs: Identifying and nurturing high-potential employees

4. Sustainability and CSR Initiatives:

 Environmental Training: Educating employees on sustainable practices and

5. Flexible Work Arrangements:

 Remote Work: Implementing policies for remote work where feasible.

1. Structured Recruitment Process: City Group has a well-defined

1. Limited Diversity: There is a need to enhance diversity within the