Human Resource Management Policy of Jamuna Bank Ltd

Introduction:

Human Resource management involves all management decisions and practices that directly affect or influence the person or human resources who work for the organization. In recent years increased attention has been devoted to how organizations manage human resources. This increased attention comes from the realization that an organization’s employees enable organization to achieve its goal and management of this human resource is critical to an organization’s success. The presence of human being is no new invention but identifying them as a resource in a more formal way has been made in the recent days. The history of HRM can be characterized as moving through four phases as craft system, scientific management system, the human resource relationship approach and the current organizational science such as human resource approach.

The company considers human resource as an integral part of corporate management for higher productivity. Company follows a dedicated policy for recruitment, training and development, motivating, organizing and retaining and maintaining the existing human resources on the basis of quality education, training and operating experiences.

An organization is nothing without human resource. Human resource department is concerned with the “people” dimension in management. Since every organization is made up of people, acquiring their services, developing their skills, motivating them to high levels of performance, are essential to achieving organizational objectives and ensuring that they continue to maintain commitment to the organization.

 Historical Background:

The need for efficient Human Resources was appreciated by Jamuna Bank Management long back in 1994 when JBL -a finance company formed by the sponsors in the private sector at the initiative of the Government —was converted into a full-fledged commercial bank. It was felt that definite policies in this regard are required. The bank, therefore, Strived for appropriate policies in the area of Human Resource in the past several Years. As a result, certain policies have, in the process, historically evolved. Though these policies have been revised, amended and modified suitably from time to time, yet it was felt that the present policies require drastic changes in view of the wide ranging changes in the sector.

Why Human Resource Policy:

International trade, commerce and finance have been witnessing dramatic change since the dawn of the new century. Keeping pace with such changes, our banking sector had also undergone many changes in the recent past. Change has taken place in the areas like regulatory requirement, market diversification, product and technology etc. Banking now is technology driven and knowledge based and the success of a Bank in the intensely competitive market of Bangladesh is, to a significant extent, department on the performance of its skilled and dedicated human resource. A Bank many have nicely decorated branches, sophisticated equipment and adequate capital, but its profitability and continuous growth in business cannot be ensured until and unless skilled and motivated human resource give their very best for the betterment of the organization. Such contribution by members of staff can ensure only by an effective human Resource (HR) Policy.

 Basis of Present Human Resource Policy:

The basis of the present HR Policy is the Mission Statement of the Bank which was adopted by the Board of Director in its 201^st Meeting held on December 05, 10 vide Memo No. 373/97. The corporate goals called “Mission Statement” are as under:

Our Mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and individuals that we care for. We are committed to the welfare and economic prosperity of the people and the community, for we derive from them our inspiration and drive for onward progress to prosperity.

We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in regional banking operating beyond the national boundary.

In an intensely competitive and complex financial and business environment, we particularly focus growth and profitability of all concerned’

It will appear from the “Mission Statement” adopted by the Board that it has the following six components:

• Skilled and dedicated workforce with creative talents and innovative ideas.
• Service to the customers/clients.
• Welfare and economic prosperity of the people and community.
• Goal to be leader Bank in Bangladesh.
• Partner in regional banking.
• Growth and profitability of all concerned.

The components, if examined, suggest that the Bank’s main emphasis as before is on skilled, creative and innovative human resource.

 Objectives of Human Resource Policy (JBL):

The fundamental objective of the Human Resource Policy of the Jamuna Bank Ltd. is to achieve the corporate goals by:

• fully utilizing potentiality of human resource of the Jamuna Bank Ltd.:

Bringing about congruence between the needs aspirations of the individual employees and objectives of the Jamuna Bank Ltd.:

• Helping the employees to realize about their full potentiality.
• Meeting the long-term need for career development of the employees;
• Meeting the need for exposure of the employees to different learning experiences;

 Components of Human Resource Policy:

For achieving the objective of human resource policy as aforesaid, the Bank has identified the following human resource policy areas. The human resource policy issues starting from recruitment to retirement consist of the following:

• Recruitment Policy
• Background Checking Policy
• Promotion Policy
• Increment Policy
• Leave Policy
• Transfer and Posting Policy
• Reward and Recognition Policy
• Termination and Retirement Policy
• Training Policy
• Compensation Policy
• Succession Planning Policy

 Responsibility of HR Management:

 Human Resources Division of Jamuna Bank Ltd. Will be responsible for management of human resources of the Bank. Human Resource Management comprises the fowling 4 (four) basic function:

• Staffing
• Training and Development
• Motivation and
• Maintenance

Recruitment Policy:

Recruitment:

Recruitment is the process of discovering / attracting potential candidates for filling in actual or anticipated organizational vacancies. It is a linking activity between existing or anticipated job to be manned and those seeking jobs.

 Objectives of Recruitment Policy:

• To ensure that the availability of Human Resource with requisite skills, expertise knowledge and abilities is at par with the Bank’s demand for the same.
• To ensure that the continued operation of the Bank goes smoothly with rights number of Human resources of right quality.
• To ensure that the most promising and best qualified candidates are selected for filling up organizational vacancies.

Basis of Recruitment:

Recruitment in all grades will be need based. While ascertaining need for human resources, the following factors, among others, will be taken in to consideration:

• Growth in Business of the Bank
• Possible expansion of branch network.
• Addition of new responsibilities due to change in regulatory framework.
• Vacancies arising out of promotion / retirement/ dismissal /  termination / resignation / death , etc
• Succession requirement.

The management of the Bank will analyze the manpower requirement of Branches /Offices at least once a calendar year—preferably in January or December. After assessment of manpower need in line with the organogram of branches/officers, Management will recruit required number of candidates as per recruitment policy. All appointments will be made in accordance with Jamuna Bank  Service Rules, Jamuna Bank  Administrative powers and as per norms/ guidelines of Bangladesh Bank.

General Requirements for all grades:

• Must be a citizen of Bangladesh.
• Must be a physically and mentally fit as declared by Bank’s Physician or Civil Surgeon of any district or any physician of  any physician of any registered Medical College / University/ Hospital .
• Candidates other than lateral entries must not be over 30(thirty) years of age.
• Must submit a declaration of age supported by S.S.C or equivalent /school leaving certificate. No change subsequently through affidavit or otherwise will be admissible.

 Written Test:

Recruitment of Probationary Officers will made every year through advertisement is national Dailies. Written Test for selection of Probationary Officers shall be conducted by BIBM or IBA, DU. In case of non availability of service of BIBM or IBA, DU, any other competent organization may be entrusted with the responsibility of conducting the written test.

CGPA Equivalent to Division/ Classes:

i)                    In determining CGPA equivalent to Division /Classes, the following yardsticks are to be followed in terms of Bangladesh University Grants Commission’s guidelines :

a)      On 4- point scale :

 1^st Division / Class: CGPA 3.00 or above

       2^nd Division / Class: CGPA 2.25 or above but less than 3.00

       3^rd Division / Class: CGPA 1.65 or above but less than 2.25

b)      On 5- point scale :

 1^st Division / Class: CGPA 3.75 or above

       2^nd Division / Class: CGPA 2.81 or above but less than 3.75

       3^rd Division / Class: CGPA 2.06 or above but less than 2.81

c)      Examination results which are published as Pass (say, MBBS), the percentage of marks obtained shall be taken into consideration for determining Division /Classes or equivalent CGPA

2. For determining equivalence of grade of ‘O’ & ‘A’ level candidates, the norms followed by institute of Business Administration, DU/Faculty of Business Studies, DU/UGC will be followed.

Qualification and procedure for Recruitment: 

The following qualification and procedure shall be strictly followed for recruitment of any candidate in any grade of the Bank:

a)     Office Attendant

Qualification(s)                        * Minimum S.S.C

Age                                           * Maximum 30Years

Procedure(s)                             * Receipt of applications through different sources.

                                                 * Satisfactory performance in interview to be

                                                   Conducted by a Committee formed by

                                                  The Management

* Subject to availability of post.

b)    Security Staff

Qualification(s)                        * Minimum S.S.C

• Ex-Army, Navy, Air Force, Police, Ansar or BDR

                                                     Personnel.

Age                                           * Maximum 40Years.

Procedure(s)                             * Receipt of applications through different sources.

                                                 * Satisfactory performance in interview to be

                                                   Conducted by a Committee formed by

                                                  The Management

• Subject to availability of post.

c)     Driver

Qualification(s)                        * Minimum S.S.C

• Valid driving  licence (professional category) from BRTA

                                                     Personnel.

Age                                           * Maximum 40Years.

Procedure(s)                             * Receipt of applications through different sources.

                                                 * Satisfactory performance in interview to be

                                                   Conducted by a Committee formed by

                                                  The Management

* Subject to availability of post.

d)    Office Assistant

Qualification(s)                        * Minimum Graduate

• Minimum typing/world processing speed of 20 worlds/minute and proficiency in MS-Office Packages or necessary skills as applicable for other areas.

Age                                           * Maximum 30Years.

Procedure(s)                             * Receipt of applications through different sources.

                                                 * Satisfactory performance in interview to be

                                                   Conducted by a Committee formed by

                                                  The Management

• Subject to availability of post.

e)     Junior Officer (Cash)

Qualification(s)                        * Minimum Graduate with at least 2 (two) 2^nd

                                                    Divisions or equivalent CGPA.

Age                                           * Maximum 30Years.

Procedure(s)                             * Receipt of applications through different sources.

                                                 * Satisfactory performance in interview to be

                                                   Conducted by a Committee formed by

                                                  The Management

                                             * Subject to availability of post.

f)      Junior Officer (General)

Qualification(s)                        * Minimum Graduate with at least 2 (two) 2^nd

                                                    Divisions or equivalent CGPA.

Age                                           * Maximum 30Years.

Procedure(s)                             * Receipt of applications through different sources.

                                                 * Minimum typing / word processing speed of 40

                                                     Bangla and proficiency in MS-officer Packages, e-

                                                    Mail internet use.

                                                 * Satisfactory performance in interview to be

                                                   Conducted by a Committee formed by

                                                  The Management

                                               * Subject to availability of post.

g)     Officer (Cash/General)

Qualification(s)                      * Masters in any discipline/ Graduate with 4(four)

                                                   Years honors without any 3^rd Division/Class or

                                                   Equivalent CGPA in the entire Academic Career.

                                                   Divisions or equivalent CGPA.

Age                                           * Maximum 30Years.

Procedure(s)                             * Receipt of applications through different sources.

• Satisfactory performance in interview to be

Conducted by a Committee formed by the Management.

• Subject to availability of post.

h)    Probationary Officer

Qualification(s)                        * Graduate with Honors or Post Graduate in any the

                                                     Following subjects with minimum 3 (three) 1^st

                                                     Division/ Classes or equivalent CGPA including 1^st

                                                    Division or equivalent CGPA either in SSC or HSC

                                                    Without any 3^rd Division/ Class or equivalent CGPA

                                                    In the entire academic career:

                                                   i) Business Administration ii) Bank Management

                                                iii) Economics iv) Accounting v) Marketing vi) Finance

                                               vii) Management viii) Finance & Banking ix) English

                                                 x) Mathematics xi) Statistics xii) Computer Science.

                                               * MBA /ACMA/ACA/B. Sc. Engineer or any other

                                                 Discipline as approved by the Board from time to time.

Age                                         * Maximum 30Years.

Procedure(s)                           * Advertisements in daily newspapers.

• Standard Written test.
• Viva-voce

Frequency                                     * shall be recruited once in every year subject to

                                                         Requirement of the Bank. Prior approval of the Board

                                                         Shall be obtained in the event recruitment in this

                                                        Grade is required for more than one occasion in a year

                                                * Subject to availability of post.

i)       Lateral entries to positions from First Executive Officer & above.

Pre-condition(s)                      * Generally, Lateral entry shall be discouraged

                                                   However, recruitment may be considered where

                                                  Competent candidates with requisite skills are not

                                                     Available within the Bank.

Qualification(s)                        * Qualifications, experience, age, etc of candidates will

                                                     Be determined on case to case basis depending on

                                                      The nature of the post and Banks requirements.

Procedure(s)                             * Personal contact and negotiation or through

                                                    Advertisements in daily newspapers.

• Satisfactory performance in interview to be

Conducted by a Committee formed by the Management.

• Subject to availability of post.

Authority for Recruitment:

Approval of recruitment as per ‘Recruitment Policy’ in all Grades will be made as per norms/ guidelines of Bangladesh Bank.

Background Checking:

Background Checking:

Back ground Checking will mean checking the academic and professional background and other necessary particulars of employees at the time of their entry in Bank’s service and/ or during their tenure of service with the Bank.

Objectives of Background Checking Policy:

• To ensure that the updated service record of employee are available at any point of time for perusal of Management
• To ensure compliance of directives of regulatory authority/ Board pertaining to human resources of the Bank.

Background Checking from & Its Maintenance:

The following ‘Background Checking From’ will be maintained & completed by Human Resource Division, Head Office, Dhaka as a tool for background checking.

Verification of certification:

Management of the Bank may, if necessary, verify, the genuineness of any Certificate or all Certificates/ Testimonials submitted by any employee from any education Board / University/ Institution.

In the event of submission of any forget Certificate/ Testimonial by any employee, Management of the Bank shall take administration action including termination /dismissal /removal against the concerned employee, considering the nature of each case.

Verification of past service Records, Etc of Lateral Entrants:

Management of the Bank may, if felt necessary, enquire into the past service records of a lateral entrant or verify the authenticity of any certificate  or all certificates/ testimonials submitted by any lateral entrant regarding his/ her experience or qualification shall make him/her liable for punishment as per Jamuna Bank  Employee (Discipline & Apparel) Rules-2003.

 Disqualification for Recruitment:

HR Department will consider the following as disqualifications for employment:

• A person less than 18 years of old shall not be recruited.
• A person mentally unfit, incapable etc.
• A person, who has been forced to retire or dismissed or removed from government services or from the services of any organization as a result of disciplinary action taken in pursuance of relevant rules or regulations in force.

 Re-Employments:

A former employee may be re-employed through a new recruitment without having any relation to his/her prior employment.

Former staff may be considered for re-employment through open competition, if they have been retrenched of if they resigned due to personal problem. The personal confidential file to be reviewed to ensure that the person under consideration for re-employment has not been marked as ‘DO NOT REHIRE’. In both cases re-employment will be competitive and not automatic.

However, in case of retrenchment and again re-employment in the same job, the employee’s previous salary will be taken to consideration.

Certain types of resignation circumstances also prohibit an individual from being re-employed, including:

• forced resignation
• protest resignation
• resigned during probationary period and
• Poor performing staff who resigned.

Vacancies:  

Vacancies may occur when new positions are created or when the incumbent of an existing position separates from JAMUNA BANK LTD. or is transferred to another position.

Eligibility to Apply         :

All positions as a general rule will be opened to qualified internal and external candidates.

JAMUNA BANK LTD. employees may apply for any position if they are qualified. Any employee with requisite qualifications and background can apply directly HR Department for the advertised position irrespective of his/her present grade.

Requirement Analysis by Respective Department:

When a position becomes available within the company, concerned departmental head will analysis the need of new employee. After determining the need a personnel requisition forms (PRF) to be filled by the concerned department and send to HR department. The PRF will contain the following information:

• Job position
• Reporting to as per organogram
• Job description
• Educational/Professional qualification
• Experience details
• Date to be filled up the position.

Approval of the Requirement:

HR department will analysis the whole thing and discussed with the top management of the company for getting the approval of the recruitment.

External Sources:

   a) Candidate Search:

The Human Resources function will source candidates and provide a shortlist for review by Line Management. Company can hire employee through various external sources, Depends on companies needs. To source candidates the following methods should be considered:

• Data Company of CVs
• Advertisements (Local and International press)
• Online job circular
• Referrals.

B) Liaison with Sources of Supply Of Labor And Newspaper Announcements:

Notifications about vacancies will be circulated widely in daily newspapers or online jobsite or Recruitment agency or University campus and other media depending on necessities. It may be circulated in one or two or all the media at a time, Management has sole rights to take decision regarding this.

C) Quality Control of Advertisement:

The advertisement will be reviewed against the standard format. HRM must ensure that JAMUNA BANK LTD. external image is maintained properly, and so that consistency between projects is achieved.

Minimum Notice Period:

The minimum notice period between advertisement and competition closure is normally 7 working days, but HR dept will take final decision regarding this.

 Cost Associated With Interview of Candidates:

JAMUNA BANK LTD. no longer pays expenses of candidates for attending interviews.

 Composition of the Recruitment Board:

The recruitment Board must consist of more than one employees including one representative must from HR Department. It may represent diversity in terms of gender. While it is vital that at least one member of the Board have adequate knowledge about the job and have specific skills and competencies of the position being interviewer (generally the line manager can do this),it is equally important that others bring a broader perspective about what JAMUNA BANK  LTD. does to the recruitment process.

 Screening of Applications:

After receiving applications HRM will count/check against the HRIS as the initial screening process. HRM must ensure careful handling of applications at all stages of the process to ensure that no applications are misplaced. HRM must also ensure the eligibility of the candidates applying.

After completing all the screening process the short listed CVs will be sent to the Head of the employing unit/department.

Compile a recruitment board:

For short-listing, written test and viva voice, the recruitment board will be compiled as follows, ensuring that all members are at least one Grade above that of the position.

a)      Short-listing-is generally done by one HR Representative.

b)      Written Test- is conducted by –one person from other department and one HR Representative.

c)      Viva voice- is conducted by at least 3 persons, Manager of concerned Dept, one HRM representative and one person from another Department.

 Interview:

Interview questions should focus on areas relevant to the performance of the job. The same minimum set of questions must be asked of candidates, although the board may ask additional questions at their discretion.

Any question, scenario or situation given to candidates during written or oral tests must bear a relevance to the required skills or competencies for the position. Question must present a positive professional image of JAMUNA BANK LTD. and shall not cast doubt on the integrity or capacity of any person or unit within JAMUNA BANK LTD. or in another organization.

During interview time there should be follow a candidate assessment form to look the over view the candidate.

Short-Listing of application:

Before starting, responsible person(s) shall fix up strategy on the basis of number of positions & number of applications received, it may be reduced through primary initial screening A standard qualitative screening tool may be utilized to ensure transparency. Criteria should relate to competencies defined for the position and evidence of Jamuna Bank Ltd. requirements for employees.

On-Discrimination: 

JAMUNA BANK LTD. believes in equal employment opportunity. JAMUNA BANK LTD. will not discriminate against a candidate’s religion, culture, physical handicap, age, etc., unless such aspect is directly related to requirements of the job. However, consideration in a positive sense may be given to a person’s religions, sex, and ethnicity to promote gender and diversity.

 Disqualification of repeat applicants:

The candidates who are called for final selection or finally  selected for joining but not joined or already joined the organization and left at training period are disqualify from further consideration.

No Objection from Current Employer:

Candidates must produce resignation acceptance and release order in original forms from his or her preceding organization prior an appointment with Jamuna Bank Ltd. The original copy of the resignation acceptance and release order on official letterhead must be verified first by HR. Department before signing an appointment letter. A verified copy of the ‘No Objection’ certificate, along with educational and experience certificates will be maintained in the Personal Confidential File.

Other Interest outside Employment:

Before starting the job employee should inform the HR Department if he or she maintains other income-sources.

a)                   Other income-sources (legal or illegal): Management of JAMUNA BANK LTD. does not give permission to employees other income-sources while he is a member of JAMUNA BANK LTD. organization.

TYPES OF   EMPLOYEE: Various types of employees at Jamuna Bank  Ltd. are as follows:

a)       Apprentice: An apprentice is a learner who is paid allowances during the period of his learning, No other facilities shall be entitled to this post. Management has sole right to take decision regarding appointment of apprentice.

During the apprenticeship period management may terminate the apprentice contract without assigning any reasons. An apprentice who wishes to terminate his or her contract will provide 15 days notice.

An apprentice from apprenticeship program will not be eligible for applying for JAMUNA BANK LTD. jobs during the apprenticeship period. However, after successfully completion, s/he may apply for any suitable position if vacancy announce.

b)         Transfer Worker: JAMUNA BANK LTD. reserves the right to locate staff to different location as required by management objectives. Staffs recognize that JAMUNA BANK LTD. working areas are often favorable. Transfer of employees from one location to another must have HR Manager or CEO’s or COO’s approval. Before finalizing a transfer decision, a minimum of seven days notice will be provided to the staff.

d)         Casual Worker: The time of festival days or when work pressure is more company can appoint some people as casual worker. Only consulted amount shall be paid on contract basis. People who are engaged indefinite job or for definite period, means employment is casual in mature, occasional.

e)         Temporary Worker: For a very short period of a time company can appoint few people on conduct basis.  Worker who has been engaged work which is essentially of temporary nature and is likely to be finished within a limited period.

f)                     Permanent Worker: A worker in order to be treated as permanent worker need not require appointment on permanent basis. It will be sufficient if he has satisfactorily completed the period of probation. Permanent Employee is entitled to get various allowances, bonus, provident fund and Gratuity etc.

 Salary Negotiation:

Once the candidate is selected, the Human Resources Department will negotiate the salary to be offered. The employing department should be kept fully briefed of the status and any problems that may develop.

The negotiation will take into account the Following

• Availability of the skill/s in the market.
• Candidate’s current compensation package.
• The market rate for the job.
• Internal parity vis-à-vis employees in similar jobs with equivalent experience levels and skills should be maintained.

Reference Checks:

Once the selection is completed, Human Resources Department will carry out reference checks on the candidate.  These reference checks will include

• Ø Background check/Reference investigation: Reference checks to verify factual information previously provided by the applicant and to uncover damaging information such as criminal record, suspended driving license etc.

The actual background investigation and reference can take many forms or any single form depends on situation.

• Management must try to verify an applicant’s current (or former) position and salary with his or her current (or former) employer by phone. (Assuming doing so was cleared with candidate).
  • Management may call applicant current or previous supervisor to try to discover more about the person’s motivation, technical competence and ability to work with others.

• References from all previous employers (both verbal and written).  These should be sent directly to the Human Resources departments and not to individuals suggested by the applicant.
• Authentication of all education certificates directly with the universities/institutions.

     No candidate should start work until fully satisfactory references are received from the last two employers and a release letter is obtained from the last employer.

Internal Recruitment Process:

a)    Search

Internal candidates will be given first preference for all vacancies unless the job is such that specialized skills are required, which are not available within the Company. The methods of sourcing internal candidates would be:

• Identified candidates within the Company as per succession plan.
• Identification of candidates within the Company with required profile and experience

b)   Screening of Applications

The initial screening of applications would be done by Human Resources Department and the immediate manager of the position being recruited.  Initial interviews of the short listed candidates would also be done jointly.

c)     Selection

The final shortlist of candidates will be interviewed by the HR manager / department head. Based on this, a final decision to select the most appropriate candidate will be made by the head of the department.

All candidates who had applied to the internal advertisement should be informed on the final selection decision within a week of completing the selection exercise.

 Terms & Conditions of Employment:

Working Hours:

Office hours are from 10.00 a.m. to 6.00 p.m. on Sunday through Thursday.

A lunch break of 1 (one) hour between 1.30 p.m. to 2.30 p.m. will be facilitated.

The working hours and schedules of other activities are set in line with business needs and will be based on a 48 hours working week.

 Office Hours during Hartal/Strike:

Regardless of the political situation of the country the company has to ensure business continuity and therefore Head Office remains open during Hartals; until specifically mentioned otherwise.

Employees are requested to attend office. However, they are requested to use their own judgment and required to attend office only if they feel that it is safe for them to travel and there are no significant problems on the road. Employees must notify their Line Manager or Department Coordinator if s/he is unable to come to office due to security and safety issues.

In case of absence due to security reasons, employees need to compensate the lost working hours by working on weekends or working extra hours during holidays. Line Managers of the employee will keep track of compensatory working days. Employees entitled for overtime and week end allowance need to compensate for lost working hours during hartal; before claiming overtime and weekend allowance.

In case an employee is unable to come to office; s/he is required to submit a leave application. Please note that, no leave will be deducted, this is for record keeping purposes only. Leave will be deducted only if this absence is not compensated according to the above mentioned way.

Office timing remains flexible during Hartal days and employees may come to office at a time they feel safe and comfortable on the road.

Public Holidays:

The Company will observe holidays as per the List of Holidays announced at the beginning of the year. The Company will use the MCCI (Metropolitan Chamber of Commerce & Industry) published list of holidays as the basis of determining the holidays it will observe as Company public holidays. Company reserves the right to shift or adjust Public holidays according to the need of the Company.

 Probation:

All Bangladeshi permanent employees are required to undergo a probationary period of 1 year. If the performance of an incumbent is not found suitable during the first 1 year; the probation period may be extended for another 6 months with clear targets. The duration of the probation period may be varied at the discretion of the Company.

Confirmation:

HR will inform the Line Managers two weeks in advance from the date of their subordinate’s confirmation. All Line Managers will evaluate their employees in the prescribed Probation Appraisal form and rate their performance during the probation period. Based on the performance ratings; HR may adjust the salary level for employees.

No confirmation letter will be issued until a Probation Appraisal form is completed and duly signed by the Line Manager and Department Head.

 Transfer:

The Company at its absolute discretion may transfer an employee from one job to another or one location to another or from one department to another, one Head Office entity to another, within and outside Branch office should it be required for business requirements or training & development purposes or any other business requirements. The transfer will be communicated through Head office.  A copy of the transfer letter duly authorized will be handed over to the employee only if there are changes in the terms and conditions of employment.

 Promotion Policy:

 Promotion:

Promotion will be considered as “Vertical elevation in organizational hierarchy usually with enhanced pay, allowances and status”

 Objectives of Promotion Policy:

* Providing opportunities of advancement and a career path to the Bank’s employees particularly those who by virtue of their demonstrated merit & performance display remarkable potential for assumption of higher responsibilities contributing to Bank’s progress.

* Giving due importance to merit / performance/ potentiality of employees.

* Retaining good performers in the services of the Banks.

* Encouraging and motivating the average performers to do better.

* Giving due recognition to seniority as well as up gradation of academic and professional qualification of employees during service period.

* Promoting on the basis of need of the Bank i.e. business expansion/ branch expansion and future growth potential.

Promotion Factors:

• Academic as well as professional qualification
• Knowledge of banking rules & regulations
• Job performance as evident from performance Appraisal Reports.
• Length of service or seniority in the grade.
• Potential for development and contribution to the growth and development of the Bank.
• Clean service record.
• Smartness.
• Satisfactory performance in interview.

 General Guidelines to be following:

i)                    Promotion cannot be claimed as a matter of right or on the basis of seniority alone.

ii)                  Promotion will be considered subject to requirement/ vacancy/ suitability and shall be under taken once in every year.

iii)                Management reserves the right to consider accelerated or special promotion of candidates having outstanding performance any time during the year.

iv)                All promotions from one grade to another grade shall be made as per “ Promotion Policy and Criteria”

v)                  Promotion exercise will be under taken every year based on APAS of the preceding 03 (three)   years an/ or written test or interview, as applicable.

vi)                One increment will be given during fixation of pay on promotion of employees.

vii)              The Managing Director may, if necessary, constitute a Committee for the purpose of promotion/ moderation of Annual Performance Appraisal Reports.

viii)            Authority for promotion will be exercised by the Managing Director as per norms/ guidelines of Bangladesh Bank and as per Bank’s “Promotion Policy”

ix)                Promotion to the rank of SEVP will be approved by the Board of Directors as per recommendation of the Managing Director.

x)                  Candidates under suspension and/ or candidates against whom disciplinary cases are pending will be eligible for promotion and their promotion, if awarded, will be released with retrospective effect only upon disposal of disciplinary cases/ withdrawal of suspension order.

xi)                Employees who will be awarded any minor or major penalty as per Jamuna Bank Employees (Discipline & Appeal) Rules-2003 as a disciplinary measure will not be eligible for immediate next promoting exercise.

xii)              Employees who will be on Study Leave will not be eligible for promotion.

xiii)            Employees who will be posted on secondment abroad or who will be required to work in any government/autonomous organization on deputation from the Bank will be eligible for promotion.

xiv)            1. In determining CGPA equivalent to Divisions/Classes, the following yardsticks are to be followed in terms of Bangladesh University Grants Commission’s  guidelines:

a)      On 4- point scale :

 1^st Division / Class: CGPA 3.00 or above

       2^nd Division / Class: CGPA 2.25 or above but less than 3.00

       3^rd Division / Class: CGPA 1.65 or above but less than 2.25

b)      On 5- point scale :

 1^st Division / Class: CGPA 3.75 or above

       2^nd Division / Class: CGPA 2.81 or above but less than 3.75

       3^rd Division / Class: CGPA 2.06 or above but less than 2.81

c)      Examination results which are published as Pass (say, MBBS), the percentage of marks obtained shall be taken into consideration for determining Division /Classes or equivalent CGPA

2. For determining equivalence of grade of ‘O’ & ‘A’ level candidates, the norms followed by institute of Business Administration, DU/Faculty of Business Studies, DU/UGC will be followed.

Promotion Criteria: