Chapter One
1.0 Introduction
1.1 Origin of the study:
Study was assigned by teacher as a report on Causes & Effects of employee turnover in private bank. It’s a part of our academic curriculum. It is helpful for the ment of the course International for our BBA program.
1.2: Literature Review:
The study has been taken up by numerous Studies like journal, report, books etc. Following is a brief survey of the existing literature which has relevance to the proposed study. This report will help us to make easy our internship report. The purpose of this report is to know about causes & effects of employee turnover in private bank in banking sector. This information is collected from the h manager of PBL. The information are related to the causes &effects of employee turnover of Prime Bank.
1.3: Rationale of the study:
One of the main issues in the rationale for this study was the opportunity to study the interaction the causes and working long hours brings to the working population. Work is good, yes, but not when it comes of extent that other things have been neglected because the focus is solely on work alone.
1.4:Objective of the study :
The objectives of the study are as follows:
Main Objective: The major objective of the report is to identify Causes & Effects of employee turnover in Prime bank ltd and of Causes & Effects of employee turnover in Prime Bank Limited General Objective:
1) To find out employees annual as well as average turnover rate.
2) To ascertain the cause of Employees turnover.
3) To identify detail of causes & effects of employee turnover in Prime Bank Limited.
4) To measure the satisfaction level of employees in the organization.
Salary
This is the most common cause of the turnover rate being so high. Employees are in search of jobs which pay well. In order to resolve this problem, the employers should make it a point to offer salaries that would be competitive enough to retain and attract well-qualified and talented personnel. If the companies which they are working in don't offer good salaries, they tend to hunt for jobs that pay them considerably well. Unsatisfactory performance appraisals is also one of the reasons for employees leaving a company.
Promotion
This is the prime reason why many mid-level executives leave the company. Due to no potential opportunity for promotions, they prefer other companies which may provide them compensation packages. The companies need to evaluate and modify their promotion in a fair way which would enable promotions for candidates only on the basis of employee performance.
Working Environment
This is also one of the main causes for employee turnover. Employees prefer to work in an environment which is suitable for them. This is the most common reason why they jump from bank to bank in just a few months. Employees prefer to work in an environment which. If they find an appropriate work environment in a specific bank, they may work in the same organization for several years.
1.5: Methodology of the study
While preparing the report, I have taken information from the following sources:
Primary sources
1) I have collected primary data by interviewing employees of the prime Bank Limited
2) Face to face conversation with the officer of the Bank
3) I made a questionnaire for the customer of the PBL and
4) Collected primary data by survey method
Secondary sources
1) Annual report of PBL
2) Bank records
3) Websites, Internet.
4) Relevant books, Research papers, manuals etc. Related to the topic.
1.6: Scope of the study
This report covers the causes & effects of employee turnover of Prime Bank Ltd. Ambarkhana Branch, The data of PBL is collected from the Branch manager. The report will help us to know the causes & effects of employee turnover in prime Bank.
1.7: Limitation of the study:
1) The one of the main limitations was time period. We make this report in a very short time. And the time was not enough for making.
2)All Employees was not agreed to give me time for my question.
3) It was to easy to collect information from branch manager of PBL.Because he
has not sufficient time to give us.
4) Lack of primary data
5) Lack of Secondary data
Chapter Two
2.0: Theorical aspects of the study
2.1: Definition of Employee
An employee is a person who works in the service of another person under an express or implied contract of hire, under which the employer has the right to control the details of work performance (Black's Law Dictionary).
An employee is hired for a specific job or to provide labor and who works in the service of someone else (the employer). The IRS classifies a worker as an employee as follows:
In general, anyone who performs services for an organization is an employee if the organization can control what will be done and how it will be done.
The control question is used to determine whether a worker is an employee or an.
The factors designating someone as an employee include:
A specific wage or salary
An implied or written contract
Control of the person's work by the employer
2.2: Definition of turnover
For a; or equivalently, the fraction of a year that an item remains in inventory. Low turnover is a sign of inefficiency, since inventory usually has a here also of times per year that an reinvested.
2.3: Definition of Bank
An usually a by a state or, which does most or all of the following: receives honors drawn on them, on them, makes in, and notes;
Chapter Three
Organization Overview
3.1 Introduction:
Bank is a financial institution which plays a fundamental role in forecasting the economic and social condition of a country. This characteristic feature sets bank apart from other financial institution. A Bank can manipulate the money supply through lending and investment. In the process of acceptance of deposits and provision of loan, bank creates money. Banks collect deposit at the provide loans and advances at higher cost. The difference between these is the profit for the Bank This bank has been operating in the bank industry since 1995 and belongs to the second generation of private banks to be incorporated since the independence of Bangladesh. . Prime Bank Limited is fast growing private bank. It was established in 17th April 1995. From its establishment it is engaged in a desirable position among its competitors after achieving success in all area of business operation.
Prime Bank Limited (PBL) is one of the Bangladeshi private banks, with million of paid up capital by a group of successful entrepreneurs Prime bank is the first private bank to introduce lease finance, along with Islamic banking services in the banking sector in order to bring about qualitative changes in the lives of people of Bangladesh. . It is not only a conventional Bank. It‟s a modern, dynamic private commercial bank & plays a constructive role in the the country. PBL through its steady progress & continuous success has, now earned the reputation of being one of the leading private sector Banks of the country. The bank offers all kind of Commercial corporate and Personal banking service covering all segment of society within the framework of Banking Company Act, rules and regulation laid down by. is determined to explore the different ways to accommodate with the needs of its clients. One of these ways includes Foreign Exchange Operation and transactions which offer customers a medium of doing business globally with minimum risk associated. Prime Bank Ltd. has already made significant progress within a very short period of its way of life.
3.2 Vision:
Every Company has their own vision. By fixing vision, they can set their future growth. Prime Bank Ltd. has its own leader in the banking industry. “To be the best Private Commercial Bank in terms of efficiency, capital adequacy, asset quality, sound management & profitability having strong liquidity”.
3.3 Mission:
To build Prime Bank Ltd. in to an efficient, market driven, customer focused institution with good corporate governance structure.
Continuous improvement in business policies, procedure & efficiency through integration of technology at all levels.
3.4 Objective of the Study:
The objective of the Prime Bank Limited is specific and targeted to its vision and to position itself in the mindset of the people as The objectives of the Prime Bank Limited are as follows:
# To mobilize the savings and channeling it out as loan or advance as the company approve.
# To finance the international trade both in import and export.
# To establish, maintain, carry on, transact and undertake all kinds of investment and financial business including underwriting, managing and distributing the issue of stocks, debentures, and other securities.
# To carry on the foreign exchange business, including buying and selling of foreign currency, traveler’s cheques issuing, international credit card issuance etc.
# To develop the standard of living of the limited income group by providing Consumer Credit.
# To finance the industry, trade and commerce in both the conventional way and by offering customer friendly credit service.
# To encourage the new entrepreneurs for investment and thus to develop the country’s industry sector and contribute to the economic development.
.
3.5 Management of the PBL:
Boards of directors are the sole decision about the affairs of the business. Now there are 13 directors in the management of the bank. academic background and have huge experience in business Anwar Hossain is the chairman of the bank. The board of directors holds meetings on a regular basis.
Executive Committee: The Executive Committee consists of the members of the Board of Directors. This Management Committee: The Management Committee consists of the Managing Directors and Head Office Executives. committee exercises the power as delegated by the Board from time to time and approves all matters beyond the delegation of Management. They discuss about on portfolio functions. Different ideas and decisions, guidelines regarding deposits, lending and management of Human and Material resources are the main concern of this committee.
All these committees meet on a regular basis for discussing various issues and proposals submitted for decisions.
Table 1: Management Hierarchy of Prime Bank Limited
Managing Director
Deputy Managing Director
Senior Executive Vice President
Executive Vice president
Senior Vice President
Vice President
Senior Assistant Vice President
Assistant Vice president
First Assistant Vice president
Senior Executive Officer
Executive Officer
Principal Officer
Senior Officer
Management Trainee Officer
Junior Officer
Prime Bank Products:
Banking Services, Retail Banking, Corporate Banking, Investment Banking, Islami Banking, ATM Services Prime Bank Retail Banking Products: As a consumer bank Prime Bank Ltd.
Chapter 4
Finding and Recommendation:
Employees pay scale in PBL is other private banks of Bangladesh. The employees of the PBL get compensation of around of what other private banks, for example Dhaka Bank, Southeast Bank etc. offer to their employees. This creates dissatisfaction among the employees that carries the risk of rise in employee turnover rate.
Compared to other private banks of PBL is not so attractive. Though the employee of PBL gets fair financial and other benefits, the base pay is not sufficient. This poses a lot of threat on the employees of Bangladesh, the compensation switching to other banks from PBL. When an employee gets a promotion to the next level, he/she gets more compensation. PBL is regular in promotion, but the employees get late effect of this promotion. Often there is a long gap, for example a six month gap in getting the effect.
Findings:
Employees of Prime Bank Limited are trustful and reliable.
The transaction by PBL employees is safe to the clients.
Prime Bank Ltd. understands customer’s specific needs.
Employees always search for solutions for the clients.
The behavior of the employees is very good.
As a Bank ,Prime Bank Limited is trustworthy to its clients
Employees of Prime Bank Limited are friendly and helpful.
Conclusion:
Prime Bank Ltd is one of the fastest growing bank in Bangladesh. of the country through stimulating trade & commerce, accelerating the pace of industrialization, boosting up export, creating employment for the educated youth, raising standard of living of limited income group and overall sustainable socio-economic development of the country. It is committed to provide high quality financial services / products to contribute to the growth of G.D.P. The Bank is operating efficiently with its existing products and services The emergence of fierce competition and adverse economic condition has forced the bank to be innovative in offering its products and customer services. . It has remained profitable from the inception of its operation in the commercial banking sector. Service quality is a critical component of customer perceptions. The services which the branch provides to their clients, are very prompt and quality one compare to other private or foreign banks. In the case of pure services, service quality will be the dominant element in customers’ evaluations. So Prime Bank is the bank, which will survive in the banking sector of the world on the slogan "Bank with a difference".
1.1 Origin of the study:
Study was assigned by teacher as a report on Causes & Effects of employee turnover in private bank. It’s a part of our academic curriculum. It is helpful for the ment of the course International for our BBA program.
1.2: Literature Review:
The study has been taken up by numerous Studies like journal, report, books etc. Following is a brief survey of the existing literature which has relevance to the proposed study. This report will help us to make easy our internship report. The purpose of this report is to know about causes & effects of employee turnover in private bank in banking sector. This information is collected from the h manager of PBL. The information are related to the causes &effects of employee turnover of Prime Bank.
1.3: Rationale of the study:
One of the main issues in the rationale for this study was the opportunity to study the interaction the causes and working long hours brings to the working population. Work is good, yes, but not when it comes of extent that other things have been neglected because the focus is solely on work alone.
1.4:Objective of the study :
The objectives of the study are as follows:
Main Objective: The major objective of the report is to identify Causes & Effects of employee turnover in Prime bank ltd and of Causes & Effects of employee turnover in Prime Bank Limited General Objective:
1) To find out employees annual as well as average turnover rate.
2) To ascertain the cause of Employees turnover.
3) To identify detail of causes & effects of employee turnover in Prime Bank Limited.
4) To measure the satisfaction level of employees in the organization.
Salary
This is the most common cause of the turnover rate being so high. Employees are in search of jobs which pay well. In order to resolve this problem, the employers should make it a point to offer salaries that would be competitive enough to retain and attract well-qualified and talented personnel. If the companies which they are working in don't offer good salaries, they tend to hunt for jobs that pay them considerably well. Unsatisfactory performance appraisals is also one of the reasons for employees leaving a company.
Promotion
This is the prime reason why many mid-level executives leave the company. Due to no potential opportunity for promotions, they prefer other companies which may provide them compensation packages. The companies need to evaluate and modify their promotion in a fair way which would enable promotions for candidates only on the basis of employee performance.
Working Environment
This is also one of the main causes for employee turnover. Employees prefer to work in an environment which is suitable for them. This is the most common reason why they jump from bank to bank in just a few months. Employees prefer to work in an environment which. If they find an appropriate work environment in a specific bank, they may work in the same organization for several years.
1.5: Methodology of the study
While preparing the report, I have taken information from the following sources:
Primary sources
1) I have collected primary data by interviewing employees of the prime Bank Limited
2) Face to face conversation with the officer of the Bank
3) I made a questionnaire for the customer of the PBL and
4) Collected primary data by survey method
Secondary sources
1) Annual report of PBL
2) Bank records
3) Websites, Internet.
4) Relevant books, Research papers, manuals etc. Related to the topic.
1.6: Scope of the study
This report covers the causes & effects of employee turnover of Prime Bank Ltd. Ambarkhana Branch, The data of PBL is collected from the Branch manager. The report will help us to know the causes & effects of employee turnover in prime Bank.
1.7: Limitation of the study:
1) The one of the main limitations was time period. We make this report in a very short time. And the time was not enough for making.
2)All Employees was not agreed to give me time for my question.
3) It was to easy to collect information from branch manager of PBL.Because he
has not sufficient time to give us.
4) Lack of primary data
5) Lack of Secondary data
Chapter Two
2.0: Theorical aspects of the study
2.1: Definition of Employee
An employee is a person who works in the service of another person under an express or implied contract of hire, under which the employer has the right to control the details of work performance (Black's Law Dictionary).
An employee is hired for a specific job or to provide labor and who works in the service of someone else (the employer). The IRS classifies a worker as an employee as follows:
In general, anyone who performs services for an organization is an employee if the organization can control what will be done and how it will be done.
The control question is used to determine whether a worker is an employee or an.
The factors designating someone as an employee include:
A specific wage or salary
An implied or written contract
Control of the person's work by the employer
2.2: Definition of turnover
For a; or equivalently, the fraction of a year that an item remains in inventory. Low turnover is a sign of inefficiency, since inventory usually has a here also of times per year that an reinvested.
2.3: Definition of Bank
An usually a by a state or, which does most or all of the following: receives honors drawn on them, on them, makes in, and notes;
Chapter Three
Organization Overview
3.1 Introduction:
Bank is a financial institution which plays a fundamental role in forecasting the economic and social condition of a country. This characteristic feature sets bank apart from other financial institution. A Bank can manipulate the money supply through lending and investment. In the process of acceptance of deposits and provision of loan, bank creates money. Banks collect deposit at the provide loans and advances at higher cost. The difference between these is the profit for the Bank This bank has been operating in the bank industry since 1995 and belongs to the second generation of private banks to be incorporated since the independence of Bangladesh. . Prime Bank Limited is fast growing private bank. It was established in 17th April 1995. From its establishment it is engaged in a desirable position among its competitors after achieving success in all area of business operation.
Prime Bank Limited (PBL) is one of the Bangladeshi private banks, with million of paid up capital by a group of successful entrepreneurs Prime bank is the first private bank to introduce lease finance, along with Islamic banking services in the banking sector in order to bring about qualitative changes in the lives of people of Bangladesh. . It is not only a conventional Bank. It‟s a modern, dynamic private commercial bank & plays a constructive role in the the country. PBL through its steady progress & continuous success has, now earned the reputation of being one of the leading private sector Banks of the country. The bank offers all kind of Commercial corporate and Personal banking service covering all segment of society within the framework of Banking Company Act, rules and regulation laid down by. is determined to explore the different ways to accommodate with the needs of its clients. One of these ways includes Foreign Exchange Operation and transactions which offer customers a medium of doing business globally with minimum risk associated. Prime Bank Ltd. has already made significant progress within a very short period of its way of life.
3.2 Vision:
Every Company has their own vision. By fixing vision, they can set their future growth. Prime Bank Ltd. has its own leader in the banking industry. “To be the best Private Commercial Bank in terms of efficiency, capital adequacy, asset quality, sound management & profitability having strong liquidity”.
3.3 Mission:
To build Prime Bank Ltd. in to an efficient, market driven, customer focused institution with good corporate governance structure.
Continuous improvement in business policies, procedure & efficiency through integration of technology at all levels.
3.4 Objective of the Study:
The objective of the Prime Bank Limited is specific and targeted to its vision and to position itself in the mindset of the people as The objectives of the Prime Bank Limited are as follows:
# To mobilize the savings and channeling it out as loan or advance as the company approve.
# To finance the international trade both in import and export.
# To establish, maintain, carry on, transact and undertake all kinds of investment and financial business including underwriting, managing and distributing the issue of stocks, debentures, and other securities.
# To carry on the foreign exchange business, including buying and selling of foreign currency, traveler’s cheques issuing, international credit card issuance etc.
# To develop the standard of living of the limited income group by providing Consumer Credit.
# To finance the industry, trade and commerce in both the conventional way and by offering customer friendly credit service.
# To encourage the new entrepreneurs for investment and thus to develop the country’s industry sector and contribute to the economic development.
.
3.5 Management of the PBL:
Boards of directors are the sole decision about the affairs of the business. Now there are 13 directors in the management of the bank. academic background and have huge experience in business Anwar Hossain is the chairman of the bank. The board of directors holds meetings on a regular basis.
Executive Committee: The Executive Committee consists of the members of the Board of Directors. This Management Committee: The Management Committee consists of the Managing Directors and Head Office Executives. committee exercises the power as delegated by the Board from time to time and approves all matters beyond the delegation of Management. They discuss about on portfolio functions. Different ideas and decisions, guidelines regarding deposits, lending and management of Human and Material resources are the main concern of this committee.
All these committees meet on a regular basis for discussing various issues and proposals submitted for decisions.
Table 1: Management Hierarchy of Prime Bank Limited
Managing Director
Deputy Managing Director
Senior Executive Vice President
Executive Vice president
Senior Vice President
Vice President
Senior Assistant Vice President
Assistant Vice president
First Assistant Vice president
Senior Executive Officer
Executive Officer
Principal Officer
Senior Officer
Management Trainee Officer
Junior Officer
Prime Bank Products:
Banking Services, Retail Banking, Corporate Banking, Investment Banking, Islami Banking, ATM Services Prime Bank Retail Banking Products: As a consumer bank Prime Bank Ltd.
Chapter 4
Finding and Recommendation:
Employees pay scale in PBL is other private banks of Bangladesh. The employees of the PBL get compensation of around of what other private banks, for example Dhaka Bank, Southeast Bank etc. offer to their employees. This creates dissatisfaction among the employees that carries the risk of rise in employee turnover rate.
Compared to other private banks of PBL is not so attractive. Though the employee of PBL gets fair financial and other benefits, the base pay is not sufficient. This poses a lot of threat on the employees of Bangladesh, the compensation switching to other banks from PBL. When an employee gets a promotion to the next level, he/she gets more compensation. PBL is regular in promotion, but the employees get late effect of this promotion. Often there is a long gap, for example a six month gap in getting the effect.
Findings:
Employees of Prime Bank Limited are trustful and reliable.
The transaction by PBL employees is safe to the clients.
Prime Bank Ltd. understands customer’s specific needs.
Employees always search for solutions for the clients.
The behavior of the employees is very good.
As a Bank ,Prime Bank Limited is trustworthy to its clients
Employees of Prime Bank Limited are friendly and helpful.
Conclusion:
Prime Bank Ltd is one of the fastest growing bank in Bangladesh. of the country through stimulating trade & commerce, accelerating the pace of industrialization, boosting up export, creating employment for the educated youth, raising standard of living of limited income group and overall sustainable socio-economic development of the country. It is committed to provide high quality financial services / products to contribute to the growth of G.D.P. The Bank is operating efficiently with its existing products and services The emergence of fierce competition and adverse economic condition has forced the bank to be innovative in offering its products and customer services. . It has remained profitable from the inception of its operation in the commercial banking sector. Service quality is a critical component of customer perceptions. The services which the branch provides to their clients, are very prompt and quality one compare to other private or foreign banks. In the case of pure services, service quality will be the dominant element in customers’ evaluations. So Prime Bank is the bank, which will survive in the banking sector of the world on the slogan "Bank with a difference".
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