Training and development program of Prime Bank Ltd.
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- Prime Bank Limited provides various training and development programs to employees to improve their skills and increase productivity. This includes on-the-job and off-the-job training methods like classroom sessions, seminars, and job rotations. - Most employees are satisfied with the training programs and recognize their importance. However, some find the environment confusing and hold negative perceptions. - Regular training is seen as essential for developing employee performance and bringing positive change, but need assessments could be improved to better match training with needs. Overall the training programs aim to meet employee needs.
Training and development program of Prime Bank Ltd.
- 2. Theoretical knowledge is not enough for a student. There is difference between theoretical knowledge and practical field. So, those two should be synchronized. Our presentation is launched mainly for this purpose. To get some experience which help a student to get a good job, may be another purpose of the study.
- 3. Broad Objectives: -The broad objective of study is to illustrate the “Training & Development program of Prime Bank Limited”. Specific Objectives: - To know about the training and development policies of Prime Bank Limited. - To identify the process of need assessment of training and development program of Prime Bank Limited. - To identify the methods followed by Prime Bank Limited for training & development program. -To know the attitude of employees toward the training of Prime Bank Limited. -To recommend suggestions for further development.
- 4. Primary data:- It was collected through questionnaire which contains relevant questions that were only close ended. I have collected mainly the Primary Data for my study by utilizing the questionnaire and interview methods. Secondary data:- - These data are collected from published sources such as Magazines, several books, and also from the help of websites and other sources. Like: Prime Bank Limited - Website: (www.primebank.com.bd) - Annual report of Prime Bank Limited
- 5. Prime Bank Limited (PBL) is one of the Bangladeshi private banks, which was incorporated on 17th April 1995. It is not only a conventional Bank. Its a modern, dynamic private commercial bank. Prime bank Limited is the first private bank to introduce lease finance, Hire purchase & customer credit schemes along with Islamic banking services in the banking sector. Prime bank Limited earned the reputation of being one of the leading private sector Banks of the country.
- 6. Prime Bank Ltd. has already made significant progress within a very short period of its way of life. Prime Bank Ltd. 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.
- 7. Vision Mission Every Company has their own vision. By fixing vision, they can set their future growth. Prime Bank Ltd. has its own vision to be leader in the banking industry. “To be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management & profitability having strong liquidity”. 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.
- 10. Prime Bank Limited believes that a proper form of training contributes to the development of human resources & human resources can be developed by way of upgrading the job understanding & proficiency. Training is fundamentally a designed constant learning process & attempt by management to improve employees competency levels & thus to develop the individual ability to perform on the job. In-fact, the more information & education the bank will give to employees, the better prepared they will be to advance within the bank.
- 11. - Identifying the training needs of all the employees, it is seen form the employees point of view as well as from the respective departments point of view. - Training & development is a designed activity. Human Resource Department of PBL sets the training planning & budgets for all the departments. - In PBL, a training agenda prepared for each employee. This training agenda contains the number of days of training for each of the employees in the various areas on which training would be imparted. - The training session would be conducted either by internally or by externally. - The respective department heads are the liable for the training programs or a specific department. - Once an employee has been selected for a training program he/she is bound to attend the program. - Training feedback would be generated from the participants & their respective superiors. - Prime Bank Limited also promotes internal trainers as well external. Training policies of Prime Bank Limited
- 12. - Who needs to be trained? - What skill must an employee learn in order to be more productive? - Where training is needed?
- 13. Collect Information Analyze Information Develop a training plan
- 14. The need assessment of training & development programs are completed through a three phase process which are:
- 15. On the job training methods: The various forms of on the job training include the following: Job Instruction Training: Job instruction training is normally given by a senior employee or manager on the job sites of the bank. The employee is shown how to perform the job & is allowed to do it under trainers supervision. Job Rotation: Job rotation is also called cross-training method. This method requires an individual to learn different jobs in a work unit or department & perform each for a specified time period. For example in PBL the officers are rotated from the Investment Department to General Banking Department. Apprenticeship Training: Apprenticeship training is a system in which an employee is given instruction by more experienced employee or employees in all the practical & theoretical aspects of the work required in a skilled occupation.
- 16. Off the Job Training Methods: Generally off the job training is provided at the Prime Bank Limited Institute. The common forms of off the job trainings are as follows: Class Room Training: Prime Bank Training Institute usually provides the off the job training & also determines where the training would take place classroom training is the most familiar off the job training method. Video Presentation: At the end of training held video presentation where a trainee represents their presentation. Conferences & Seminars: Under this method, group discussions, exchange of ideas & opinions take place which help the participants develop leadership qualities. Two way communications in this method proves that to be effective. Lecture Method: In this method trainer represents the oral presentation of information by a subject matter expert to a group of listeners. It is an efficient way of transmitting factual information to a large audience in a relatively short amount of time.
- 17. 08 – Nov – 2016 Prime Bank Holds Workshop on New ICC Guideline 13 – Oct – 2016 Prime Bank Holds Training on 'Prevention of Money Laundering & Terrorist Financing'
- 18. 08 – Sep – 2016 Prime Bank Concludes Training on "Advance Credit Management" 02 – May – 2016 Prime Bank's 82nd Foundation Training Course Concludes
- 19. - Productivity: Training and development helps in increasing the productivity of the employees that helps the organization further to achieve its long term goal. - Quality: Training and development helps in improving upon the quality of work and work-life. - Image: Training and development helps in creating a better corporate image. - Profitability: Training and development leads to improve profitability and more positive attitudes towards profit orientation. Impact
- 20. Study on employee training needs
- 23. In our presentation some major findings are identified regarding training& development programs of the Prime Bank Limited are given below: - Due to the short span of time & difficulty in procedure the Prime Bank Training Institute sometime conducts training programs without proper need assessment but it happens very seldom. - To direct & develop the employees through training & development programs PBL follow the decent policy which is capable to meet up contemporary demand. - PBL follow punctuality in scheduling & arranging training program strictly.
- 24. - Almost maximum employees of PBL are satisfied with the resource personnel for conducting the training program of . - The learning purposes of training programs are met at the end of the training program. - PBL’s training environment is relatively conducive in nature, most of the employees are satisfied with their existing environment but some employees are confused & some others hold negative perceptions about the training environment. - Maximum numbers of employees recognize the importance of training program to deal with challenges.
- 25. - PBL believes regular training program is essential for developing employees performance level & skill. - Training helps to bring change in quality of performance to recognized by all the employees of PBL. - PBL has strong & effective feedback system. - The performance appraisal system of training program in PBL is up to the mark to measure the performance of employees. - The overall training & development procedure of PBL is dynamic to meet all the employees need & demand positively & equally through training & development programs.
- 26. Banks play important role in the modern economy. Training and development issues play an important role in every organization & in the banks. No organization can achieve its goals or can be good, until or unless it satisfies employees. In the banking sector, highly educated & strategic personnel are required to create a competitive position & to retain it for the long time. Training, the principle of equality, job satisfaction & career development are important in the bank. The job satisfaction of the employees is more than moderate.
- 27. Most of the employees are satisfied here. The bank is also satisfied with its employees. Bank’s salary is high but not highest in comparison with other commercial banks. Still comfortable working environment, good interpersonal relationship, & the benefits of the employees of the PBL are also satisfactory. Finally, If the bank can turn employee into a resource by proper training & development programs, then the organizational goal can be achieved into its desired level because employee retention & overall efficiency of the organization.
- 28. Training & development make it possible through optimizing the optimum utilization of human resources that will inspire the employees to attain the organizational goals as well as their individual goals. By studying & analyzing the current position of Prime Bank Limited’s training & development program, some pitfalls are identified for which the following recommendations can be suggested-
- 29. - Training need assessment should be conducted more strictly & if possible make it mandatory. - Resourceful, updated & clearly understandable training materials should make available to all the employees those who are selected for training program. - Initiatives should be taken to make the training environment more conducive to all the employees. - The training & development program should be organized & maintained as a routine activity because employees efficiency in the workplace largely depends on it & they also be able to review the training as a routine based work.
- 30. - The authority of PBL should make an effective reward system which will encourage employees for attending the training program. - Introduction of more training programs will be effective for sustaining professional growth & development of employees.