Saddam Sami

Proposal for Internship

Employee Motivation of Uttara Finance and Investment

Limited: A Study on Corporate Branch
Employee Motivation of Uttara Finance and Investment
Limited: A Study on Corporate Branch

Course Name: Internship

Course Code: INT4301
Section: A

Supervised by
Farhana Afroz
Lecturer
Department of Business Administration
Northern University Bangladesh

Prepared By:
Md. Saddam Hossain
ID # BBA 150105537
Department of Business Administration
Northern University Bangladesh

Date of submission:
November 05, 2018
Date: August 6, 2014
Coordinator
Internship & Placement Committee
Faculty of Business Administration
Northern University Bangladesh

Subject: Request for Acceptance of the Internship Project Proposal.

Dear Sir,

With great gratification I am submitting my proposal of internship report on “Employee

Motivation” of Uttara Finance and Investment Limited.” that you have assigned me as an
essential requirement of Internship program. It is really an enormous prospect for me to
congregate vast information and grasp the subject matter in an appropriate way. I have found the
study is quite interesting, beneficial & insightful and will try my level best to prepare an
effective & creditable report. I honestly, not only anticipate that my analysis will assist to
provide a clear idea about the overall condition of “Employee Motivation of Uttara Finance and
Investment Limited.” but also optimistic enough to believe that you will find this report’s worth
for all the effort I have put in it. I welcome your entire query & take pride to answer them.
Yours Sincerely Supervised by
---------------- ----------------
Md. Saddam Hossain Farhana Afroz
ID # BBA 100103508 Lecturers in Accounting
Northern University Bangladesh Northern University Bangladesh

1.1 Introduction

This report has been prepared as a requirement for the completion of the BBA program of
Northern University Bangladesh. I have prepared the report based on my three months long
internship program in Uttara Finance & Investments Limited. While preparing this report I have
used some practical information which I have gathered more or less from my day to day works in
the company. In my report I have focused mainly on the Employee Motivation
The report work entitled a study on employee motivation with special reference to Uttara
Finance & Investments Ltd. Management’s basic job is the effective utilization of human
resources for achievements of organizational objectives. The personnel management is
concerned with organizing human resources in such a way to get maximum output to the
enterprise and to develop the talent of people at work to the fullest satisfaction. Motivation
implies that one person, in organization context a manager, includes another, say an employee, to
engage in action by ensuring that channel to satisfy those needs and aspirations becomes
available to the person. In addition to this, the strong needs in a direction that is
satisfying to the latent needs in employees and harness them in a manner that would be
functional for the organization
The data needed for the study has been collected from the employees through questionnaires
and through direct interviews. Analysis and interpretation has been done
b y u s i n g t h e statistical tools and data’s are presented through tables and charts. Motivational
research conducted by many theorists including Elton Mayo Frederick Taylor, who have
recognized the power of recognition as an incentive (Maslow and the Expectancy Theory of
Motivation).

1.2Objectives of the Study

General Objective

 The general objective of the study was to determine “employee motivation” at Uttara
Finance and Investments Limited.
 To study the importance factor which are needed to motivate the employee

Specific Objectives

 To study the effect of monetary and non monetary benefits of employees provide by
organization on the employees performance.
 To study the effect of job promotion on employees.
 To learn the employee satisfaction on the interpersonal relationship exists in the
organization.
 To provide the practical suggestion for the improvements performance.
 The study was guided by the following specific objectives:

1.2 Rationale of the study:

The study represents the relationship of employee motivation. When employees are motivated
and get recognition for his/her better performance then they provide their maximum effort to
achieve the goal of the organization. This study will evaluate the employee motivation.

1.3 Scope and Limitations:

Scope of the Study:

The study emphasized on impact of employee better performance and motivation. It will be
needed to study the environment and human resources practice relating to Employees Motivation
of Uttara Finance and Investments Limited.

Limitation of the Study:

There are some limitations regarding to the studies, those are:

 The duration of my study program was only three month. The allocated time was not
sufficient for me to gather knowledge and to make the study a complete and fruitful one.

 To keep the organizational confidentiality various types of information are not provided
in the study.
 Sometimes employees are afraid to provide genuine information.
 Sufficient records, publications and articles were not accessible related to this study.

Methodology

To make this report resourceful I had to collect lots of information about the Human Capital of
UFIL. For this I used primary data along with secondary data.

3.1 Description of Data

To address the research objectives both primary and secondary source of data are utilized.

Sources of Primary Data

  Survey Questionnaire.
 Face to face interview with the employees of UFIL.
 Expert’s opinions and comments.

Sources of Secondary Data

Secondary data is collected by visiting relevant websites, books and published journals. Our
secondary method was to collect information UFIL’s annual report.

3.2 Survey Period

Conducting a survey of 40 (forty) employees it took 20 (twenty) days to collect data.

3.3 Sample Selection Procedure

I have used simple random sampling technique for data collection.

3.4 Sample Size

I have selected 5 employees from the HRD and other 35 employees from different departments.

3.5 Analysis tools used

I gathered all data through questionnaire were coded, entered into computer and analyzed and
presented in the form of tables and diagrams using Microsoft Excel 2007. The data were
analyzed according to the objective of the study.
 Chapter – 2
Literature Review

2.1 About the Organization

Uttara Finance and Investments Limited started its journey in 1995 as a non banking financial
institution with license from Bangladesh Bank. UFIL enlisted in Chittagong Stock Exchange Ltd.
on August 31, 1997 and in Dhaka Stock Exchange on September 07, 1997. UFIL have 03
different branches situated at Dhaka, Chittagong & Bogra to run their business operation
smoothly.

Since inception the Company has been providing different kinds of financial services to various
individuals and corporate bodies. The Company as one of the leading financial institutions is
committed to all its Stakeholders for improving their future with the highest standards of
business integrity, ethics and professionalism in all of its activities. During the period of its
journey the Company provided financial services to thousands of individual clients and hundreds
of corporate clients where good number of direct employment opportunities exists.

Human Resource is the core asset and backbone of the Company. Through direct employment of
a good number of qualified talented people, the Company has been playing a vital role in the
economic development of the country.

As a secured place for deposit with good return, the Company has been encouraging the savings
habit among the people. Besides, a large number of Shareholders through their investment in
shares of the Company have been enjoying good return each and every year. Through merchant
banking service the Company has been helping the investors of the capital market of the country.

Uttara Finance and Investments Limited has been paying very good amount of income tax, VAT
and withholding tax directly to the government exchequer in each and every year and our
Clients, Employees, Shareholders, Depositors have been also contributing to the national
economy for improving the future of the nation.

Vision

To serve the nation through participation in the development of the economy as a leading
company of Bangladesh. (Annual Report 2017)

Mission

• To be an outstanding company of motivated people with excellent team work spirit

• To provide quality services and ensure steady growth of the company

• To bring about a qualitative improvement in the life style of our people

• To provide lease finance to professional and technicians on attractive terms

• To encourage continuous technological development and creation of employment opportunities

• To ensure human resource development to meet the challenges of the time (Annual Report
2017)

Objective

The objective of Uttara Finance and Investments Limited is to ensure sustainable operational
growth to maximize the benefits for the valued shareholders. To achieve the desired targets
through the skilled, trained, experienced and motivated management working hard with
responsibility in financially disciplined environment to ensure satisfactory customer service.
(Annual Report 2017)

Principles
• Service first to our clients
• Teamwork for quick service
• Quick decision for saving time
• Find-out and maximum utilization of opportunity
• Hard working to achieve goal
• Investment to create employment opportunity
• Maintaining of long term relationship
• Change welcome mentality and support
• Fair competition with ethical behavior
• Develop and ensure corporate culture
• Maintaining of sustainable growth
• Efficient risk assessment and management for making decision
• Build client business for benefit of the clients
• Financial discipline
• Rewarding talents (Annual Report 2017)

Values we carry
• Recognition by customer
• Effort together to have the best
• Social and economic development attitude
• Service for People empowerment
• Friendly office environment and team work
• High moral and ethical standards
• Accountable to all stakeholders
• Highest level of trust and transparency
• Positive to accept Challenge (Annual Report 2017)

Strengths
• Clients
• Working forces (manpower)
• Familiar and friendly working environment
• Excellent team work
• Integrity
• Transparency
• Prudent policy
• Financial and administrative discipline
• Positive to accept Challenge
• Professional excellence
• Strong risk management
• Commitment to the stakeholders
• Strong guidance of Board of Directors and its Committees
• Attractive leadership
• Excellent working environment
• Efficient and effective decision taking ability (Annual Report 2017)

Strategy
The Board and Management of Uttara Finance and Investments Limited appreciate very well that
clientele is the heart of the organization. For giving financial services we always knock on our
client’s door to provide our assistance not only when the clients are in good position but also
when they are in crisis.
(Annual Report 2017)
Code of conduct and ethics
Uttara Finance and Investments Limited have been running its business in accordance with the
approved Code of Conduct. Employees of the Company deliver professional services as per
policies and relevant technical and professional standards with integrity, competence, dignity and
in an ethical manner. To ensure professional behavior, all the employees exercise independent
professional judgment and take reasonable care. Employees of the Company perform their
professional obligations with knowledge about all applicable laws, rules, regulations and relevant
standards and maintain the confidentiality and privacy.
(Annual Report 2017)
Products and Services:
Leasing Major areas of operation are • Operating lease
related to leasing with the • Financing lease
objective to provide the benefits • Sale and lease back
of asset-based lease facilities in
the name of.
Term Financing Finances are provided for a fixed • Term finance
term in different modes. • Working capital finance
• Bridge finance
• SME finance
• Syndicated finance
Merchant Banking Merchant banking unit provides • Underwriting
these services. • Portfolio management
• Issue management
• Margin loan
• Corporate advisory
services
•Investments in capital
market through investors'
Accounts
Documentary To import the lease assets(s) from
Credit foreign suppliers through
establishment of letters of credit.
Term Deposits Uttara Finance encourages saving • Semi Annual Profit
behavior of the general public by Scheme
offering attractive interest rate on • Annual Profit Scheme
term deposits of those features •Cumulative Profit Return
Scheme
•Monthly Profit Return
Scheme
•Quarterly Profit Return
Scheme
•Half yearly Profit Return
Scheme
•Earn Ahead Profit Return
Scheme
• Double Money Scheme
•Triple Money Scheme
(Annual Report 2016)
Organ gram
Human Capital of UFIL

The total workforce of UFIL as on 31 December 2017 is 182. Here is a table of Human Capital
Strength:

Level of employee Total Percentage (%)

Senior Management Level (AVP to MD) 27 14.84%

Mid Level (Officer to SPO) 88 48.35%

Entry Level (Assistant Officer) 18 9.89%

Support Staff 49 26.92%

Total 182 100.00%

(Annual Report 2017)

Recruitment and Selection

HR department always ensure hiring right people in the right place at the right time. In our
company both internal and external sources are encouraged for new/replacement recruitment. We
follow merit-based recruitment process for both internal and external recruitment. UFIL provides
equal opportunities to all applicants without any bias to religion, race, gender or age. The
Company believes that its uniqueness and strength comes from the emphasis they put in the
quality of the people in the organization as they play an integral role in the Company’s success.

Learning and Development

The Company puts great emphasis on training and provides resources and opportunities for
development to the employees. UFIL acknowledge and support the need for employees to
balance work and personal interests and encourage flexibility wherever possible. Effectively
designed training programs targeting the right group of employees are conducted on a regular
basis. During the year of reporting total 56 employees got training opportunities in 24 training
programs. In the year 2016 total 60 employees participated in 28 training programs.

Compensation and Benefits to Employees

The Company recognizes the need for remuneration policies to be competitive and these have
been designed to correspond to individual qualification, skill, performance, contribution and
responsibility ensuring a real differentiation amongst other companies. The recruitment strategy
of the Company is based on attracting and retaining the most suitable people at all levels of the
business. We target a fair human resources management by using a performance based system.
In addition, to drive further development of individual skill sets and competencies. There is no
incident of discrimination occurred in terms of remuneration provided to male and female
employees. Every employee is paid salary on monthly basis, which is a combination of basic
salary, fringe benefits and other benefits. In addition of basic salary the benefit schemes of UFIL
are as follows:

Employee Benefits

• House rent allowance

• Conveyance allowance
• Medical allowance

• Entertainment allowance

• Dearness Allowance

• Group Life Insurance

• Festival Bonus

• Performance Bonus

• Loan facility

• Mobile allowance

• Transport Facility

• Car Maintenance Allowance

Reward and Recognition Program

Uttara Finance and Investments Limited has a well-designed Reward & Recognition program
that gives special attention to employees' actions, efforts, behavior and performance. Annual
incentive schemes are used to reward the short-term business results which create noteworthy
value for the business. They represent a reward for the collective achievement of defined
corporate results to which each individual has made a contribution. Apart from the, monetary
compensation, non-monetary rewards and other intangible benefits wait for the deserving
employees with an objective to increase motivation level. Star Performer of the Month is
awarded to the best performers to boost the morale of the employees and to help them to be more
productive for the larger interest of the organization.

Employee engagement programs

Uttara Finance and Investments Limited celebrate International Women's Day, Bangla New
Year, English New Year, Independence Day and besides that the Company also organizes
Annual Picnic and Iftar party.