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http://www.bbc.com/news/world-south-asia-12965779

Internship Report
On
Compensation Management Practices and Policies of Mutual Trust
Bank
Submitted To
Arifur Rahman Khan
Lecturer
BRAC Business School
BRAC University
Submitted By
Mohammad Ali
ID # 11304096
Department Of BBS
BRAC University
Submission Date: 24-08-15
 Internship Report
On
Compensation Management Practices and Policies
of Mutual Trust Bank

Letter of Transmittal
07 June, 2015
Arifur Rahman Khan
Lecturer
BRAC Business School
BRAC University
66 Mohakhali, Dhaka-1212
Subject: Submission of Internship Report
Dear Sir,
With due respect and humble submission I would like to state that
it is an immense joy for
me to submit my internship report on “Compensation Management
Practices and
Policies of Mutual Trust Bank”. I am glad to work under your
active and cooperative
supervision and I think it has been a great achievement for me that
I could work under you
throughout the last three months for which it has been possible to
complete the report
successfully.
I will be really grateful to you if you are kind enough to receive my
internship report and give
your valuable feedback so that I can utilize your judgment for
further prospects.
Sincerely Yours,
_______________
Mohammad Ali
ID# 11304096
BRAC Business School
BRAC University

May 17, 2016

Mohammad Saif Uddin Bhuiyah,
Lecturer,
Dept. of Business Administration,
Dhaka City College,Dhaka
Subject: Submission of the Report on “A Study on MetLife Alico,Bangladesh”,
Dear Sir,
Here, we are submitting the attached report entitled “A Study on MetLife
Alico,Bangladesh”. We have tried to work hard to make it done as per your
instructions. We tried to analysis the overall situation regarding this topic. The study is
about the organizational background, vision of the company, job details, products and
services, operational methods etc. This is obviously a helpful process of learning by
gaining practical knowledge. All information used in this report is collected
through websites, members report and informal face to face Interviews. Our
level best trying has given here to carry out a meaningful and effective study
on my topic to make our report efficient enough. In this period, We have
developed some good ideas regarding the insurance policy sector. The study
will help us a lot to develop our career in my upcoming future. Thank you
for giving us this opportunity. We shall be obliged if you kind enough to
approve this effort.
Yours Sincerely

Group members of ‘Dreamers’

Students,

Dept. of Business Administration,

Dhaka City College,Dhaka

First of all, I would like to thank the Almighty Allah for the successful
completion of this

report and I would like to express my gratefulness to Allah for giving me the
patience and

strength to work in Mutual trust bank for the last three months and complete
my report within

the specified time. I would like to thank my internship supervisor Arifur

Rahman Khan,

Lecturer, BRAC Business School for his heartiest cooperation and

supervision because

without his support and assistance it would not be possible for me to

complete my task.

I am also grateful to Md. Abdul Kader Jilani, (Junior Officer) Shahed Molla
(Junior

Officer) Rashna Sharmin Asha of Head Office HR, Mutual Trust Bank
Limited. It would

have been very difficult to prepare this report timely without their proper
guidance. Lastly, I

am highly thankful to BRAC University for organizing the internship

program as it is an

incredible opportunity for the student to experience a real life working

situation that is related

with the academic learning.

Acknowledgement
First of all, we would like to thank the Almighty Allah for the successful completion of
this

report and we would like to express my gratefulness to Allah for giving me the patience
and

strength to work in Management practices in Pakistan which is complete within

the specified time.

Our endeavor will come true if the actual purpose of this report becomes fulfilled. we
would like to express our cordial and deep respect to our course supervisor, Ms.Manna
Akter Lina, Lecturer of Dhaka City College,Dhaka for her proper guidance, valuable
advice, instructions which helped us a lot to complete this report. We would like to
express our heartiest gratitude to the supervisor for giving us the opportunity to complete
our report on Management practices in Pakistan . It was impossible to make this report
without her help and co-operation. This report gave us practical knowledge about
management and it's functions of any country. Finally, We would like to thank all officers
of Telenor , for their co-operation, support and love. This is really a wonderful work
experience with a wonderful working environment and it is an incredible opportunity for
the student to experience a real life working situation that is related with the academic
learning.

Executive Summary

This report is prepared on the basis of my three-month practical experience at Mutual

trust

bank. Mutual trust bank is one of the leading local banks in our country. The bank has
many

divisions and departments but the focus is given more on the HRD. Moreover, from the
all

bank MTB is renowned to good HR practices. I am lucky that I got the opportunity to
work in

this division. This report is based on compensation system of Mutual Trust Bank how
their

strong and effective compensation policy increase efficiency and motivate the employees.

The purpose of making this report is to identify the compensation management practices
and

policies of mutual trust bank. The report also consist recommendations and conclusion

according to my point of view, which I think would more develop the compensation
policies

of the bank if implemented.

“Organizing”
Organizational Structure:
TYPE OF STRUCTURE: VERTICAL DIFFERENTIATION
HIERARCHICAL LEVELS

There are eight hierarchical levels as the size of the organization approaches 2500
to 3000 employees. Roles and responsibilities are clearly defined at the time of joining
the organization; employees are selected against defined criteria. Roles can be added later
but employees have a fair idea about their job responsibilities from the beginning.

Eight layers do not create communication or motivation problems due to the open
culture. There are no instances of de-motivation though in certain areas like Customer
Relationship Department or Customer Service Centre different customer queries and
complaints can raise frustration levels.

Managers in these departments intervene to solve problems. Whenever an

employee has a new idea, he/she is encouraged to approach the management and share it
with them. Idea drop boxes are also placed at various locations where employees leave
their suggestions. The Communications Department works out if the ideas can be
implemented and then discusses them with the employees. There is also a formal
platform at the group level known as SEED where innovation is encouraged and new
ideas about revenue concepts and cost efficiency can be discussed. Employees are
welcome to participate and submit their ideas. If the ideas handed in are feasible then
they are implemented in the organization (at country level or global level, depending on
the nature of the proposal).
Employees are then rewarded financially for their helpful contributions.

INTEGRATING MECHANISMS

Cross-functional teams are a major integrating mechanism. Further there are

temporary project teams. No ad-hoc committees have been formed to date. Team-building
is enhanced by Away Days when members of different divisions and departments take
some days away from work to meet other geographically spread employees of Telenor.
Sometimes the whole department goes away from work for 2-3 days to have fun.
Employees get to know those with whom they have communicated before but not met in
person. Formal team evaluation does not exist. Employees on teams, for instance finance
teams, are rewarded individually.

CENTRALIZATION AND DECENTRALIZATION

Apart from STRATEGY, all other functions are de-centralized. People at Telenor
Pakistan are motivated to take their responsibilities especially in cross functional projects.
Managers in each department oversee that the employees take up their roles and duties
and their performance is monitored accordingly. If an employee is loosing focus from his
core job by taking added responsibilities, he/she is instructed to re-adjust his/her
priorities.
STANDARDIZATION AND MUTUAL ADJUSTMENT

At Telenor Pakistan, the level of standardization and mutual adjustment varies

across functions. Generally strict obedience to rules is not required as long as results are
not affected. As long as individual responsibilities and deadlines are met, there are
flexible hours of work. Work is important instead of the number of hours worked.
Employees can select their work timings which can even be from afternoon to evening.
Instead of being bound by office hours, a sense of responsibility is inculcated in them to
achieve self assigned goals. This brings a sense of comfort in working in such
organizational structure. Rules and procedures are present to control the behavior of
employees and to facilitate smooth working of the organization. A level of
standardization is required to be maintained in certain vital functions such as Budget
Control. SOPs are documented in the case of the financial control or HR related policies.

Genuine requests from external customers are taken into account by the CRO
(Customer Relationship Officer) at Service Centers. The CRO does all he/she can or is
possible within authority to process the request or complaint. If the customer’s request is
beyond the authority of the CRO, then managers are there to aid the customer or provide
some sort of nonmonetary compensation to appease him.

IT AND EMPOWERMENT

The level of empowerment differs across departments and divisions, depending on

the nature of work. It varies according to the style of management of functions; more
empowerment in CRO and Sales and Marketing than in People Excellence. IT increases
the level of empowerment.

Within the network service of the Telenor in Pakistan, there is a (inter and intra
net) portal system used to communicate information efficiently. An online HR MS
System, H2H (Here to Help), is being used internally. This locally built system was
launched last year but is still not well integrated at present.

CONFLICT RESOLUTION

When different departments work together in an organization, their interests may

differ due to functional and structural differences. Due to these variations, conflicts
among departments are inevitable. The issues are not taken to the top management and
there is no coordination post in the organization which can facilitate the departments to
increase coordination with each other. Whenever a conflict arises among functions, the
heads or managers from those functions sit together and discuss the source of conflict.
They try to resolve all their differences amicably. There are always conflicts between the
technical and commercial divisions which they mostly solve between themselves. If,
however, a major issue arises which they are unable to resolve themselves then it is taken
to a level higher. The management then discusses the reason for the conflict, addresses
the concerns of both the parties and then arrives at a conclusion which is in the interest of
all departments.
Major departments at Telenor Pakistan and their functions
Major departments in Telenor & functions

·0 Finance
·1 Customer Services
·2 Commercial
·3 Technical
·4 I.T
·5 Human Resources
·6 Administration
·7 Legal Affairs

Finance Department

·8 Operations
·9 Corporate accounts
·10 Bank reconciliation
·11 Treasury
·12 Budgeting and corporate affairs
·13 Credit and collection
·14 Procurement and contracts
·15 Payables
·16 Reporting and commissions

Customer services Department

Operations
·17 To facilitate and guide the customer
·18 To resolve customer’s queries, requests and provide optimal solution in minimum
turnaround time, keeping both companies and customer interest in focus.
·19 To inform and update customers about upcoming promos, AS and products.
·20 To minimize cost and increase revenue.

System
·21 The call center employees help solve the problems of customers on telephone.
·22 Identify and resolve root causes of chum and strive to minimize churn.

Marketing Department

·23 Develop and execute regular promotions

·24 Brand management
·25 Ensure successful new city / product campaign launches
·26 Public relations
·27 International roaming
 ·28 Value added services
·29 Strategic planning and pricing
·30 Monitor competitor pricing and other activity and report back
·31 Market research
·32 Sales analysis

Sales department

Indirect sales
·33 Manage the franchise network
·34 Ensure achievement of sales target of franchise
·35 Coordinate with other departments for development programs
·36 Training of franchise staff

Direct sales
·37 Meet assigned sales targets throughout the year
·38 Maximize customer satisfaction and minimize churn
·39 Generate new accounts and manage old ones
·40 Strong follow-up

IT /Billing Department

·41 Networking
·42 Operating systems
·43 Software development
·44 Resource applications
·45 Network security
·46 Billing

Technical Department

·47 Maintain and operate the GSM cellular network consisting of 900 base transceiver
sites and 9 mobile switching centers
·48 Plan and roll out network expansion as per the commercial target (e.g. 1.5 million
subscribers in 2004 translates into 650 new sites and expansion into 50 new cities)
·49 Work closely with commercial and IT department to launch new services and
cities.

Human resources department

Employee services
·50 Payroll information
·51 Leave and medical record
·52 Final settlements and provident fund
·53 Policies and procedures
·54 Employees record and recreation

OD and effectiveness
·55 Training plan
·56 Talent management
·57 Performance management
·58 Employees retention
·59 Orientation employee communication

Staffing and compensation

·60 Staffing plan and HR budgeting
·61 Management trainee and internship program
·62 Interviewing and selection
·63 Headhunters
·64 Compensation, benefits and incentive

Administration Department

·65 Stationary requirements

·66 Courier services vehicle maintenance
·67 Janitorial services
·68 Event management
·69 Cafeteria arrangements

Recruitment

The recruitment policies of Telenor Pakistan are

Experience:

HR needs the experience of 3 TO 5 years for managerial positions. They also

hired fresh graduates for their customer service department.

IQ test/Written test:
 If the candidate has an experience of 5 years or more then there is no IQ test or
written test.

Equal Opportunity Employer:

Telenor Pakistan is an Equal Opportunity Employer. They maintain a policy of

nondiscrimination towards all employees and applicants for employment. Telenor
Pakistan has no discrimination in sectioning whether candidates are women, minority or
disable. They only focus on skills, experience and qualification.

CV Submission:

Interested applicants should submit their CV to their official site.

Assessment:

The selection criteria may involve different steps with respect to the position you
are applying for. There can be one to one interview with concerned Division head,
Recruitment Manager and/ or a panel interview, or there can be series of interviews.
Special process of a preliminary test might be carried out, depending upon nature of the
job.

Keeping details on file:

If there is no specific job in the area of an individual's application, or an applied

for position has already been filled, they will hold all details in there Careers database for
up to one year, with the consent of the applicant. Within this period, should any vacancy
arise to which they feel the applicant would be suited, he/she will automatically be
considered.

Record Verification:

All the information provided is checked and verified by the related areas and any
false or fake information provided can lead to the strict disciplinary action.

Recruitment procedures

·70 Within the organization - Internal Recruitment

·71 Outside the organization – External Recruitment

INTERNAL RECRUITMENT
Telenor Recruitment Manager Faraz Shahid said,

”it’s not the policy of Telenor that they are bound to hire employees from within the
organization according to the rules, but we call it as our Preference”.

They prefer the employee to be recruited from within the company, otherwise
they opt the alternative method for hiring. Internal recruitment is based of hiring people
from within the organization for the position to be vacant.

Telenor Portals

The portal mentions the vacancy for the position, in order to alert those employees
who fulfill the criteria for the particular job duties. With the help of portals, in which
Vacancy is displayed, it becomes easy for the employees to evaluate their specifications
for the higher posts.

Flyers and Broachers

Reinforcing the equity of brand is done for the existing employees, in order to
make them connected towards the company. Flyers and broachers are being printed in a
colorful manner about the allowances they are getting from Telenor, it includes health
care programs, medical allowances, mobile connection financing and others. All these
activities are done for the existing employees to make attracted towards the organization.
Telenor Pakistan’s CEO Tore Johnson said,

"We are succeeding because of the faith the Telenor Pakistan team members have put in
one another and the strong sense of purpose they continue to display. We genuinely
believe that mobile telephony is the best way of breaking socio-economic barriers, and
trickling down wealth and information to the bottom of the pyramid. It helps businesses,
communities, and the country.”

EXTERNAL RECRUITMENT
Telenor is providing opportunities to their target market i.e. candidates to benefit
Telenor with their capabilities and skills. There is recruitment process of Telenor, through
which they hire their employees. But before recruitment process, there is a lot more.
Attracting competent employees towards Telenor is one of the key objectives.
Advertising the equity of brand for the external block of candidates requires various steps
to market their human resources.

Telenor Recruitment Manager Faraz Shahid said,

“Attracting the candidates is one of the interesting and challenging tasks for the
recruitment team.”

Telenor attract the employees externally through

·72 Job Ads

·73 Job Fairs
·74 Welcome Ads
·75 Online Recruitment
·76 University Visits
·77 Sponsoring Talent Shows
·78 Dishing Out Souvenirs

Job Advertisements

Telenor offers employment opportunities for those who are seeking great place to
work. Telenor make their target market of candidates to be attentive, by providing job
advertisements through print media. This is the first method Telenor select to create an
opportunistic market. The company’s Advertisements get printed in two English
newspapers, Dawn and The News and in one Urdu newspaper, Jang. These job ads
provide opening alert for the vacancy at the Telenor. The ads always includes requires job
specification and Job description for the candidates, so that they can recognize the
required person of field.

Job Fairs

Telenor participates in job fairs very actively in order to advertise the HR brand.
Participation is not restricted to professional Job fairs, which are conducted for the
Pakistan’s candidates at large, but also in the university’s job fares conducted at their
own schedules.

Rozee Job Fair

Telenor participates in Rozee Job Fair very actively. Recently Telenor participated
at Rozee Job fair conducted in Lahore on March 2 at Pearl Continental Hotel, then
Islamabad on March 9 at the Convention Center, and Karachi on March 30 at the Expo
Center.

University Job Fairs

Telenor Pakistan welcomes the fresh graduates with immensely unique and new
talent. Innovation and distinctiveness is created mostly by the newly graduated job
seekers. Telenor energetically participate in University’s Fairs as well. Telenor Stall at
university job fairs, provides and opportunity for the students to interact with the HR
personnel. The stall is made attractive for the students in order to grab their attention.
Standees, umbrellas, flyers, broachers and banners are displayed. Students may provide
their Resume/ CVs to the recruitment team present there or students can also fill up the
given form for applying at Telenor. Spontaneous interviews are also been taken from the
students to analyze their confidence for their competencies. Telenor advertise the HR
brand into the graduates by explaining the Recruitment processes, employee’s career
opportunities, workplace environment and training programs.

Welcome Advertisements

Telenor Pakistan’s VP Human Capital Division, Nayab Baig said,

“The mobile industry has a significant role to play in improving Pakistan’s

competitiveness in the international market, not just by improving technology readiness
but also through human resource development.”

Telenor is keen about its employees, as their employees are one of their sources to
create competitive edge in the market. Employees join Telenor in Every quarter of the
year, names of those employees who have passed the time duration of one quarter in
Telenor are being printed in the newspaper in respect to provide them a Welcome in a
company. This increases the motivational level of employees to be given importance and
having name in newspaper. Moreover it’s an appealing factor for the other jobseekers as
well. Employment opportunities increase by each step taken by the Telenor.

Online Recruitment

E-recruitment is based on online application system, it can be retrieved by using

the Career tab in Telenor Pakistan website. An online application system requires the job
seekers to create their profile in which they are required to mention different fields
regarding professional and personal details. Uploading of CV/resume is also one of the
options for the seekers. A notification concerning profile setup of the candidate is done by
sending e-mail to the person created profile. They can apply for the displayed vacancies
once they have created their profiles with logins. The recruitment manager then evaluates
these profiles of candidates who have applied for the particular vacancies in order to call
the relevant employees suitable for the job. The evaluation of the employees is based on
fair and on merit basis. All aspects of employment with Telenor are administered by
merit, competence, suitability and qualifications, and will not be influenced in any
manner by gender, age, race, color, religion, national origin or disability. There are no
influences by the higher authorities on the recruiter to induct particular candidate. If a
candidate fails to impress the recruiter with his/her knowledge, skills and abilities that are
required for the certain job, then no top managers can influence the decision of recruiter.
It is a fair evaluation, which is making Telenor to create a competitive edge.
University Visits

Telenor Recruitment Team visits different universities, in order to aware students

about the induction process and explaning the importance of the Telenor as start of career
for students. The teams setup a TalkShawk Lounge in the premises of university. All the
students are welcome for the lounge discussion. Attractive presentation about Human
Resource Systems is given to the employees. Queries from the students are always
appreciated by providing them with satisfactory answers to remove their confusions.
Students are an important entity for the Telenor, company forecast these students to be
upcoming member of Telenor family. University visits and creating a lounge session also
helps Telenor to analyze brand positioning in the minds of students. These visits plays
and important role in explaining the Human Resources actively as a Brand.

Sponsoring Talent Shows

Telenor is actively participating in sponsorship of various events taking place in

Pakistan. The company is sponsoring concerts, funfairs, kid’s activities and many
more. Telenor is also sponsoring the talent competition taking place at national level by
universities. Recently a drama festival organized at Ghazi Ishaq Khan Institute in
December 2007 was sponsored by Telenor. In this festival, various universities
participated in order to unleash the student’s talent and capabilities. The objective of
sponsoring talent completions at University level is again reminding students about the
Telenor. The morale of the participants gets increased and they become Opportunistic
about the particular company considering students’ capabilities shows.

Steps in selection procedure

Steps in selection process for middle managers

·79 STEP1: Recruitment process

·80 STEP 2: Collecting CV’s
·81 STEP 3: Short listing of applicants as per job description
·82 STEP 4: First interview on telephone
·83 STEP 5: Short listing of applicants in first interview
·84 STEP 6: Second interview with supervisor
·85 STEP 7: Final interview with the head of HR department
·86 STEP 8: Formal offer made to the selected candidates
·87 STEP 9: Reference check
·88 STEP 10: Orientation
·89 STEP 11: Candidate handed over to immediate supervisor

Steps in selection process for top managers

·90 STEP 1: Recruitment process

·91 STEP 2: Collecting CV’s
·92 STEP 3: Short listing of candidates as per job description
·93 STEP 4: First interview on telephone by supervisor
·94 STEP 5: Second interview with the head of HR department
·95 STEP 6: Final interview by CEO
·96 STEP 7: Formal offer made to selected candidate
·97 STEP 8: Reference check
·98 STEP 9: Orientation