Internship Report on the Recruitment Policy of Trust Bank Limited

Due Date: 22.04.2021

Submitted By: Miqdad Mahmood

ID: 1610371

Submitted To: Abdullah Al Ahad

Lecturer

Department of Human Resource Management

School of Business and Entrepreneurship

Independent University, Dhaka, Bangladesh

1
 Table of Contents

Title Page..............................................................................................................................................1
Letter of Submission..............................................................................................................................4
Acknowledgements................................................................................................................................5
Table of contents................................................................................................................................2-3
List of tables...........................................................................................................................................6
List of figures.........................................................................................................................................6
Executive Summary...............................................................................................................................7
Chapter 1 (Introduction)….................................................................................................................8
1.1 Company Profile..............................................................................................................................9
1.1.1 Vision, Mission and Values..........................................................................................................9
1.1.2 Products and services.............................................................................................................10-13
1.1.3 Operation Details...................................................................................................................14-16
Chapter 2 (Internship Experience)…..............................................................................................16
2.1 Job Responsibilities..................................................................................................................16-18
2.2 Function of the General Banking Department..........................................................................18-19
2.3 Division of Human Resources..................................................................................................19-21
Chapter 3 (Issue Analysis)................................................................................................................22
3.1 Analysis of the Banking Industry of Bangladesh....................................................................22-28
3.2 Competitors of Trust Bank Limited.........................................................................................28-29
3.3 Theory of recruitment policy....................................................................................................29-32
3.4 Recruitment policy of Trust Bank Limited...............................................................................32-33
3.5 Trust Bank Limited recruitment process..................................................................................34-35
3.6 Recruitment sources of Trust Bank Limited............................................................................36-39
3.7 Issues within the recruitment process of Trust Bank Limited and its solutions.......................39-40
3.8 Impact of the Covid-19 crisis on the recruitment process of Trust Bank Limited..................40-41

2
Chapter 4…......................................................................................................................................42
Discussion/implication......................................................................................................................42
Conclusion....................................................................................................................................42-43
References....................................................................................................................................44-46
Appendices.........................................................................................................................................47

3
 Letter of Submission
22nd April 2021

Abdullah Al Ahad

Lecturer

School Of Business and Entrepreneurship

Independent University

Subject: Submission of the internship report on “The recruitment policy of Trust Bank Limited”

Respected Sir,

Here is my final submission of the report, “The recruitment policy of Trust Bank Limited” which has
been assigned to me to provide a clear concept regarding the recruitment policy including the
recruitment process of Trust Bank Limited.

In making this report praiseworthy, I have tried my utmost best in gathering all relevant information
both primary and secondary to the best of my ability.

Based on previous lectures on the writing format of the report, provided by my supervisor, Abdullah
Al Ahad, made me a lot more comfortable, and has made the hard work easier for me. After
analyzing the topic, I am submitting this report for any kind consideration and thanking you for your
constant assistance and guidance. I will be available for any classification of this report, whenever
necessary.

Yours Sincerely,

Miqdad Mahmood

ID: 1610371

Major: Human Resource Management

School Of Business and Entrepreneurship, Independent University

4
 Acknowledgements

Firstly, would like to express my gratitude to the Almighty who has provided me with the
opportunity to go through the total process of the report in this regard.

I would like to take this opportunity to express my gratitude to my internship supervisor, Abdullah
Al Ahad, lecturer at, School of Business and Entrepreneurship, Independent University, whose
direction, guidance and support helped me a lot in writing this report.

I am also thankful for my superiors at Trust Bank Limited. Special thanks go to Mr Shah Abul
Bashar (Senior Assistant Vice President, Senior Manager), Quazi Sabequnnahar (Operation Manager
and Credit), Mr Shahriar Sarwar (Junior Officer) and Mr. S.M Rashedul Hassan (Principal Officer,
Foreign Trade) for their heartiest co-operation in this regard as without their guidance, it would have
been impossible on my part to finish this report.

Additionally, I would like to thank all the employees of Trust Bank Limited, Banani branch who
assisted me in every stage of my internship by providing me with their valuable insights and
suggestions.

Lastly, I acknowledge the support of all concerned for supporting me accomplishing this report as
well as my internship program.

5
 List of Tables

List of Tables:

Table name Table no.

The primary products offered by Trust Bank Table 1.1.2
Limited
The career path for executive employees Table 1.1.3 (i)
The career path for officer grade employees Table 1.1.3 (ii)
Board of Directors of Trust Bank Limited Table 1.1.3 (iii)
SWOT (Strengths, Weaknesses, Opportunities Table 3.1
and Threats) analysis of the banking industry of
Bangladesh
Competitors of Trust Bank Limited Table 3.2
The recruitment policy of Trust Bank Limited Table 3.4
Internal and external sources of recruitment of Table 3.6
Trust Bank Limited

List of Figures

List of Figures:

Figure name Figure no.

The process of filling up the account opening Fig 2.1
form
The recruitment process of Trust Bank Limited Fig 3.5

6
 Executive Summary

All students within their final year of undergraduate studies must undertake an internship with a
company to satisfy the requirements for the completion of their undergraduate program. Hence, to
satisfy those requirements, I have joined Trust Bank Limited, Banani branch as an intern on the 14th
of February, 2021. This program is designed in a manner through which students can witness and
observe an actual corporate environment through which they can witness both the interaction
between customers and employees and between employees and their superiors.

Firstly, this report gives an introduction of the company profile of Trust Bank Limited followed by
my internship experience whereby I explain my job responsibilities and the functions of the
department that I work at. This report additionally incorporates an explanation of my focused area of
research which involves the recruitment policy of the organization accompanied by the analysis of
the banking industry of Bangladesh and its main competitors. At long last, I finished up by
communicating my fulfilment with the entire internship position and learning.

7
 Chapter 1 (Introduction)

Trust Bank Limited is one of the main private commercial banks in Bangladesh with 114 branches,
239 ATMs and 12 Our T lobbies. The bank is unique in the sense that it is governed by the Army
Welfare Trust of the Bangladeshi army (About Us, n.d.) 1. There are plans for the future to open more
branches to cover the important commercial areas within Bangladesh including Dhaka, Chittagong,
Sylhet and other areas in 2021. Through a combination of modern corporate and consumer financial
products, Trust Bank Limited has been operating in Bangladesh since 1999 and has gained the
confidence of the citizens of Bangladesh as a sound and stable bank. In 2001, an automated branch
banking system was introduced by Trust Bank Limited to increase efficiency and improve customer
service. In 2005, ATM services for its customers was introduced by the bank (About Us, n.d.)2.

Throughout the years, due to a combination of the increased business volume of the bank and
customer demand, the banking technology of Trust Bank Limited has been upgraded for managing
the growth of the bank and successfully meeting the demands of the customers. In January 2007,
online banking services were launched by Trust Bank Limited which provides online access to
banking services to its customers including ATM banking, Phone banking, SMS Banking and
internet banking, furthermore, this enabled customers to deposit or withdraw money from any
branch of Trust Bank Limited across the nation without needing to open multiple accounts in
multiple branches. Through online services and Debit card, ATMs now enable customers to retrieve
24x7 hours account information such as account balance checkup via mini statements and cash
withdrawals (About Us, n.d.)3.

Visa credit cards have been successfully introduced by Trust Bank Limited to serve its existing and
potential valued customers. Credit cards can be used at shops and restaurants all across Bangladesh
and internationally around the globe. Being a customer-oriented financial institution, Trust Bank
Limited remains firmly dedicated to meet up with the ever-growing expectations of the customers
because at Trust Bank Limited, customers come first (About Us, n.d.)4

1
Brief overview of Trust Bank Limited. (https://www.tblbd.com/about-us/profile)
2
Introduction of automated services and ATM machines by Trust Bank Limited to its customers.
(https://www.tblbd.com/about-us/profile)

3
Introduction of online banking services by Trust Bank Limited to its customers. (https://www.tblbd.com/about-
us/profile)
8
4
Introduction of Visa Credit cards by Trust Bank Limited to its customers. (https://www.tblbd.com/about-us/profile)

9
1.1) Company Profile:

1.1.1) Vision, mission and values:

Vision (Vision and Mission , n.d.)5:

 Build a protracted term property institution through money inclusion ad deliver optimum
worth to any or all stakeholders with the very best level of compliance,

Mission (Vision and Mission , n.d.)6:

 Long term property growth through distributed business with strong risk management.
 Financial inclusion involves bringing the unbanked population into the banking network
through low cost and service delivery based on technology.
 Being responsible to all stakeholders including customers, shareholders, employees and
regulators.
 Highest level of transparency and compliance at all levels of operations.

Values (Our Values, n.d.)7:

 Fair: we treat everyone fairly and with respect.

 Dependable: We deliver on our promises.
 Reliable: We perform our job to the best of our ability.
 Professional: We foster a professional environment.
 Dynamic: We are passionate to accomplish.
 Trustworthy: We do what is right.

5
Vision statement of Trust Bank Limited. (https://www.tblbd.com/about-us/Vision-Mission)

6
Mission statement of Trust Bank Limited. (https://www.tblbd.com/about-us/Vision-Mission)

7
Values upheld by Trust Bank Limited in providing its customers. (https://www.tblbd.com/about-us/our-values)
10
1.1.2) Products and Services:

The following services and financial products are provided by Trust Bank Limited. Here, the main
aim of Trust Bank Limited is to satisfy their clients regardless of how big or small they may be.
Individuals are counselled on the type of account that will satisfy their needs (Retail Products, n.d.) 8.
At Trust Bank Limited, various types of products and services have been designed to meet the
different needs of the customers. The following table below shows the range of retail banking
products offered.

Loan Products Deposit Products

Car Loan Current Deposit Account
Apon Nibash Loan Savings Deposit Account
Personal Loan Fixed Deposit Account
Loan against Salary Trust Echo
Doctors Loan Trust kotipoti
Trust Porua
Trust Senior Saving

Table 1.1.2: The primary products offered by Trust Bank Limited

Based on the above table, the main products offered by Trust Bank Limited involves products related
to loan and deposits. In terms of loans, the bank provides:

 Car Loan:

Here, Trust Bank Limited offers customers the opportunity to own a car via their car loan facility.
The loan limit ranges from BDT 2 lac-BDT 40 lac accompanied with a minimum down payment of
50 % based on a tenure of 1 year- 5 years (Car Loan , n.d.)9.

 Apon Nibash Loan:

This is a house finance loan facility initiated by Trust Bank Limited whereby customers can
construct and/or renovate their own home. Generally speaking, this loan is used for the purchasing of
residential

11
8
Main products offered by Trust Bank Limited to its customers. (https://www.tblbd.com/retail-banking-products)
9
Overview of the Car loan scheme provided by Trust Bank Limited. (https://www.tblbd.com/retail-banking/car-loan)

12
property, extension and /or renovation of residential property and the purchasing of residential
property as stated earlier. The maximum loan limit is BDT 2 crore with a tenure of 1 year-25 year.
The minimum down payment is 30% for the purchasing of house/apartments and also 30% for the
construction of a new house (Apon Nibash Loan, n.d.)10.

 Personal Loan:

These are loans that are provided by Trust Bank Limited to their customers who use them for various
needs including house renovation, purchase of personal computers and/or electronics, travelling
expenses, marriage expenses, medical purposes, etc. The time limit for this loan ranges from BDT
.50 Lac to 20 Lac with the tenure ranging from 1 year- 5 years. The minimum down payment is 50%
(Personal Loan , n.d.)11.

 Loan against salary:

The advance against salary scheme provided by Trust Bank Limited is essential for its customers in
dealing with unforeseen circumstances which require sudden financial support. This includes the
purchasing of miscellaneous household appliances and furniture, travelling expenses, medical
treatment, vehicle repair, etc. The loan limit is BDT .50 Lac-BDT 20 Lac with a tenure of 1 year- 5
years. The minimum down payment is 50% (Loan against salary , n.d.)12.

 Doctors Loan:

This loan provided by Trust Bank Limited is aimed at supporting and promoting health services
within Bangladesh. The loan limit BDT .50 Lac- BDT 20 Lac accompanied with a tenure of 1 year-5
year. The minimum down payment is 50%. The age limit required for receiving this loan is a
minimum of 25 years and a maximum of 65 years at the time of loan maturity or till the date of
retirement (Doctor's loan , n.d.)13.

10
Brief overview of the Apon Nibash loan scheme provided by Trust Bank Limited. (https://www.tblbd.com/retail-
banking/apon-nibash-loan)

11
Brief overview of the Personal loan scheme provided by Trust Bank Limited.
(https://www.tblbd.com/index.php/retail-banking/personal-loan)
12
Brief overview of the loan against salary scheme provided by Trust Bank Limited. (https://www.tblbd.com/retail-
banking/loan-against-salary)
13
Brief overview of the doctor’s loan scheme provided by Trust Bank Limited. (https://www.tblbd.com/retail-
banking/doctors-loan)
13
On the other hand, the deposit products are:

 Current Deposit Account:

The current deposit account provided by Trust Bank Limited benefits customers in the sense that it
saves them the inefficient method of carrying around cash every month. The principal features of
this account are that it is non-interest and that it comes with a free chequebook. Here, customers can
just write a cheque whenever and wherever they need to withdraw their money (Trust Bank Limited,
n.d.)14.

 Savings deposit account:

The savings deposit account provided by Trust Bank Limited enables customers to be flexible in
managing their finances the way they desire. The main characteristic of this account is that it is
calculated via interest. A variety of savings account is provided by Trust Bank Limited that enables
its users to withdraw their funds at any time (Savings Deposit Account , n.d.)15.

 Fixed deposit account:

These accounts provided by Trust Bank Limited are an excellent way for customers to increase their
money over a period of time. The interest rates provided on fixed deposit schemes are high when
compared to those on savings accounts. Hence, investing in fixed deposits leads to higher returns for
the same amount of money in the same period of time than the savings deposit account. In essence, a
fixed deposit account enables our money to increase via a higher rate of interest for a fixed term of 1
month, 3 months, 6 months and 12 months (Fixed Deposit Scheme , n.d.)16.

14
Brief overview of the current deposit account scheme provided by Trust Bank Limited.
(https://www.tblbd.com/index.php/retail-banking/current-deposit-account)
15
Brief overview of the savings deposit account provided by Trust Bank Limited. (https://www.tblbd.com/retail-
banking/savings-deposit-account)
16
Brief overview of the fixed deposit scheme provided by Trust Bank Limited. (https://www.tblbd.com/retail-
banking/fixed-deposit-scheme)
14
  Trust Echo:

This deposit scheme provides monthly benefits for individuals, whereby the user will gain the
interest on their valued savings each month for a chosen frame of tenure. To be eligible for this
account the customer must be a Bangladeshi citizen with valid identification documents (Trust Echo,
n.d.)17.

 Trust Kotipoti:

The trust kotipoti scheme transforms the monthly deposit of a small amount to TK 1 crore over a
period of time. This deposit scheme is beneficial for customers who are parents whose main aim is to
plan for their children’s education and thus would start saving for the endeavour while on the other
hand, this deposit scheme is very beneficial for individuals who are employed and who have small
savings and would like to have an attractive pension plan (Trust Kotipoti, n.d.)18.

 Trust Porua:

This deposits scheme is only for school children. The main aim of this scheme introduced by Trust
Bank Limited is to introduce young children to the formal banking process and therefore build
awareness of the formal financial sector from a young age. This in turn will get rid of the traditional
mindset of dependence on informal financial resources as these children will grow to be participating
members of the society (Trust Porua, n.d.)19.

 Trust Senior Saving:

This deposit scheme has been created specifically for the elderly to empower them at old age and
therefore providing them with an economic foothold and independence. Here, any Bangladeshi
senior citizen who is at least 60 years old can open this account. This is accompanied by a 0.50%
increased interest than the general savings account mentioned earlier. The interest payment is
monthly and will be applied on a monthly average balance (Trust Seniors Account, n.d.)20.

17
Brief overview of Trust echo deposit scheme provided by Trust Bank Limited. (https://www.tblbd.com/retail-
banking/trust-echo)
18
Brief overview of the Trust Kotipoti deposit provided by Trust Bank Limited.( https://www.tblbd.com/retail-
banking/trust-kotipati)
19
Brief overview of the trust porua deposit scheme provided by Trust bank Limited.
(https://www.tblbd.com/index.php/retail-banking/trust-porua)
20
Brief overview of trust seniors account deposit scheme provided by Trust Bank Limited.
15
(https://www.tblbd.com/retail-banking/trust-seniors)

16
1.1.3) Operation Details:
 Career Path (Executive Grade) (Sarwar, 2021)21:

Designation Acronym
Additional Managing Director AMD
Deputy Managing Director DMD
Senior Executive Vice President SEVP
Executive Vice President EVP
Senior Vice President SVP
Vice President VP
Senior Assistant Vice President SAVP
Assistant Vice President AVP

Table 1.1.3 (i) (above): The career path for executive employees

 Career Path (Officer Grade) (Sarwar, 2021)22:

Designation Acronym
First Assistant Vice President FAVP
Senior Principal Officer SPO
Principal Officer PO
Senior Officer/Senior Officer (Cash) SO/SO (Cash)
Management Trainee Officer MTO
Officer/Officer (Cash) OFF/OFF (Cash)
Junior Officer/Junior Officer (Cash) JO/JO (Cash)
Trainee Junior Officer TJO

21
The career path for executive grade employees within Trust Bank Limited based on my discussions with Mr. Shahriar
Sarwar, Junior Officer of Banani Branch.
22
The career path for officer grade employees within Trust Bank Limited based on my discussions with Mr. Shahriar
Sarwar, Junior Officer of Banani Branch.

17
 Assistant Officer/ Assistant Cash Officer AO/AO (Cash)
Trainee Assistant Officer/Trainee Assistant TAO/TACO
Cash Officer

Table 1.1.3 (ii) (Above): The career path for officer grade employees

 Board of Directors at Trust Bank Limited:

The following table below details the Board of Directors of Trust Bank Limited alongside their
occupations (Meet Our Board Of Directors , n.d.)23

Board of Directors
Chairman Gen Aziz Ahmed, SBP (BAR), BSP, BGBM,
PBGM, BGBMS, psc, G
Vice-Chairman Maj Gen Md Enayet Ullah, OSP, BSP, ndu, psc
Directors  Brig Gen Saleem Ahmad Khan, SGP,
NDC, afwc, psc, te, PhD
 Brig Gen Abu Naser Md Elias, SGP,
ndc, afwc, psc
 Brig Gen Rakib Uddin Ahmed, SUP,
psc, G
 Brig Gen Abul Mansur Md Ashraf
Khan, NDC, psc
 Brig Gen Md Golam Faruque, SGP,
SUP, nswc, afwc, psc
 Brig Gen Sheikh Mohammad Sarwar
Hossain, SUP, psc
 Mr Shahedul Islam
 Mr Arshad Jamal

23
The board of directors of Trust Bank Limited. (https://www.tblbd.com/about-us/board-directors)

18
 Managing Director Ms Humaira Azam

Table 1.1.3(iii) (Above): Board of Directors of Trust Bank Limited

Chapter 2 (Internship Experience)

2.1) Job Responsibilities:

As an intern, I worked at the department of General Banking. During my tenure as an intern, I have
performed many duties assigned by my supervisor. Generally speaking, the bank does not follow any
specific guideline or has fixed responsibilities for interns. Hence, I have undertaken many pending
works and types of tasks in the different desks as required. I am tremendously grateful to my
supervisor for letting me carry out the responsibilities. This has enabled me to gain practical
knowledge and also has provided me with corporate exposure. Most of my job experience as an
intern was related to general banking. The following duties were undertaken by me:

 Filling up the account opening form:

My first task included filling up the forms for new customers who wanted to open an account. There
were certain documents required for this procedure which includes 3 passport size photos, 2
photocopies of the national ID /Passport, 1 passport size photo of the nominee, 4 photocopies of
service ID/Trade License and initial deposit money TK 1600 for the savings account and TK 5800
for current account. To further clarify the above process, I have provided a flow chart below:

19
 At first customers would come and ask foran
I would account opening form.
tick the It can be
I checked thesavings
full or current.
form where form whether it is right or not and check
necessary and make it understandable.

After that I updated the form with extra tw

Fig 2.1: The process of filling up the account opening form

 Filing:

I was given several types of filling up forms and various types of confidential letters between the
Bank and its clients, most of whom were other business organizations. Here, I had to organize these
documents into specific groups for each company. Following this, I stored the documents into
specific folders for each of the companies.

 Sealing:

My supervisor assigned me the duty of providing a seal in the documents. These included the various
types of seals such as the branch seal, signature admitted seal, signature verified seal, manager’s
seal, account opening officers seal, etc. There were times where I was given several cheque books
whereby I inserted the Dhaka logo seal in each of the cheques.

 Document transfer:

There were occasions, where I had to take documents and take them to the other departments where
it was required. For instance, when some documents required approval through signature, I was

20
assigned

21
by my supervisor to take them to the branch manager for signing the papers and then I would take
them back to my supervisor.

 Management of chequebooks:

As an intern, it was my important duty to categorize the chequebooks. Many chequebooks were
given to our department regularly. Based on the date and the account type, it was my responsibility
to arrange the chequebooks. These included current account (CD), Savings and/pr Salary account
(SB). Following this, I had to sort the chequebooks based on online and offline branches. Here,
online chequebooks refer to those from other branches of Trust Bank Limited while offline
chequebooks refer to those within our branch.

2.2) Functions of the General banking department:

This was the department that I was assigned to. Generally speaking, a bank has to maintain different
types of accounts for their specific usage. Hence, Trust Bank Limited offers general deposit products
in the form of various accounts (Hassan, 2021)24:

 Savings Account,
 Current Account and short term deposit (STD) account,
 Fixed deposit account,
 Renewal of FDR,

The following requirements must be met to open any of these aforementioned accounts:

 2 copies of passport size photograph of the clients (Attested by introducer or verified with
passport),
 Employers certificate of the proprietor,
 Customer profile,
 Transaction profile document,
 Photograph of the nominee(s) attested by the account holder.

Furthermore, working in the general banking department, I was a witness to the activities undertaken
by that specific department:

24
Various types of account provided by the General Banking Department of Trust Bank Limited through my interview
with my external supervisor, Mr. S.M Rashedul Hassan, Principal Officer, Foreign Trade of Trust Bank Limited
22
  Account opening section:

Here, an officer introduces the customers to the bank’s various deposits and savings schemes.
Customers then provide the required information for opening an account. Following this, the
authorized officer issues the deposit slip and the chequebook.

 Know your customer (KYC):

KYC stands for know your customer. This is a process through which we can ascertain the identity
of the customer.

 Transaction Profile (TP):

This refers to the declaration of a customer’s regarding his/her monthly and yearly transactions from
his/her account.

 Issuance of new chequebook:

New chequebooks are issued to the account holders based on the requisition of the prescribed
requisition slip attached with the chequebook issued earlier after proper verification of the signature
of the account holder personally.

 Account closing:

Upon the request of the customer, an account can be closed. After receiving the application from the
customer based on his/her decision to close his/her account, the following procedure is followed by
the bank. The customer is asked to draw the final cheque for the amount standing to the credit of his
A/C less the amount of closing and other incidental charges and surrender the unused cheque leaves.

2.3) The Human Resource Division:

Despite operating under the general banking department, I have also taken the liberty of gathering
information from the human resources department of Trust Bank Limited due to my interest.

 HR mission of Trust Bank Limited:

Trust Bank Limited views its human resources as the most valuable asset and thus invests heavily
through constant training, coaching and rewarding professional degrees. Employees are also given
the freedom to express their opinion/suggestion for improvement. The HR department of Trust Bank
Limited operates based on the vision for the establishment of a friendly working environment that
23
facilitates innovation, creativity and productivity for accomplishing organizational goals with the
assistance of highly empowered and motivated employees.

Trust Bank Limited provides training based on the training needs to adequately develop the
knowledge and skills of its employees. To achieve this, leadership and team-building meetings are
conducted frequently. At Trust Bank Limited, modern and up to date policies are followed regarding
recruitment and selection, manpower planning and forecasting and compensation. For performance
appraisal, Trust Bank Limited uses a combination of the balanced scorecard approach and qualitative
aspects. The bank provides attractive policies regarding gratuity, provident funds, hospitalization and
various staff loans.

The organizational culture of Trust Bank Limited places great emphasis on value whereby the
dignity of the individual is of utmost priority as the bank is a firm believer of empowerment and
delegation (Annual Reports )25.

 HR functional areas:

The HR department of Trust Bank Limited operates based on the following five areas (Sarwar,
2021)26:

 HR Planning and Resourcing:

I. Manpower planning and budgeting,
II. Recruitment and selection,
III. Employee posting,
IV. Employer Branding,
V. MTO program,
VI. CV bank management,
VII. Academic credentials verification.

 OD and Training:
I) Training (Local and Foreign public training; Foundation and Advanced Courses),

25
Annual report 2019 of Trust Bank Limited referring to the HR mission of the organization.
(https://www.tblbd.com/sites/default/files/2021-01/TBL_AR_2019_0.pdf)
26
Various tasks undertaken by the HR department of Trust Bank Limited through my discussions with the Junior Officer
24
of Trust bank Limited, Mr. Shahriar Sarwar of Banani Branch.

25
 II) Performance Management Process and career progression,
III) Organization Chart,
IV) Job Description,
V) Policy and communications

 HR Services:
I) Employee transfer,
II) Leave Management,
III) The staff separation process,
IV) End of service settlements,
V) Compliance and disciplinary issues,
VI) Employment confirmation,
VII) Employee contract renewal,
VIII) Power of Attorney.

 Compensation and Benefits:

I) Payroll management,
II) Income Tax,
III) Staff loan benefit (PF, Car, House Building Loans)
IV) Rewards (Bonus, Incentives, Increment),
V) Issuance of salary certificate

 MIS:
I) Employee information management,
II) Issuance of certificates,
III) Any HR related MIS report.

26
 Chapter 3 (Issue Analysis)

3.1) Analysis of the banking industry of Bangladesh:

The banking sector of Bangladesh is considered to be one of the major sectors which contribute
greatly to the national economy. The commercial banking system has played a major role in the
financial sector of Bangladesh. The banking sector of Bangladesh is divided into two segments:

 Scheduled Banks:

These refer to banks that receive the permit for operating under the Bank Company Act, 1991.
Examples of these types of banks include private and state-owned commercial banks, foreign
commercial banks and Islamic commercial banks. As Trust Bank Limited is a private commercial
bank, this bank fits into this category (Banks and FI's , n.d.)27.

 Non-Scheduled Banks:

These types of banks are those that have been established for a specific purpose and objective and
therefore operate under the acts that have been established for the fulfilment of those objectives are
therefore labelled as non-scheduled banks as these banks. In essence, banks under this category
cannot perform all the function of scheduled banks. Examples of banks under this category include
Grameen Bank, Probashi Kallyan Bank, etc (Banks and FI's , n.d.)28.

 List of Banks in Bangladesh:

Based on the above discussion, both schedule and non-schedule banks are divided into a further 5
main category of banks that operates in Bangladesh. These types of Banks alongside some examples
are (Sarwar, 2021)29:

 Central Bank:

This includes the national bank of Bangladesh; Bangladesh Bank.

27
Brief overview of schedule banks in Bangladesh. (https://www.bb.org.bd/fnansys/bankfi.php)
28
Brief overview of non-schedule banks in Bangladesh. ( https://www.bb.org.bd/fnansys/bankfi.php)
29
List of Banks operating in Bangladesh provided to me based on my discussion with the Junior Officer of Trust bank
Limited, Mr. Shahriar Sarwar of Banani Branch.

27
  State-owned commercial banks:

These include:

I. Sonali Bank Limited,

II. Rupali Bank Limited,
III. Agroni Bank Limited,
IV. Janota Bank Limited.

 Private commercial banks:

I. BRAC Bank Limited,
II. United Commercial Bank Limited,
III. Mutual Trust Bank,
IV. Trust Bank Limited,
V. Eastern Bank Limited,
VI. Dutch Bangla Bank Limited,
VII. Dhaka Bank Limited,
VIII. The City Bank Limited,
IX. Islami Bank Bangladesh Limited,
X. Pubali Bank Limited,
XI. Prime Bank Limited.
XII. IFIC Bank Limited,
XIII. Uttara Bank Limited,
XIV. National Bank Limited,
XV. NCC Bank Limited,
XVI. Southeast Bank Limited,
XVII. Standard Bank Limited,
XVIII. Exim Bank Limited,
XIX. Bangladesh Commerce Bank Limited,
XX. Al-Arafah Islami Bank Limited,
XXI. Social Islami Bank Limited,
XXII. First Security Islami Bank Limited,

28
 XXIII. The premier Bank Limited,
XXIV. Bank Asia Limited,
XXV. Shahjalal Islami Bank Limited,
XXVI. Jamuna Bank Limited,
XXVII. ICB Islami Bank,
XXVIII. AB Bank,
XXIX. Mercantile Bank Limited.

 Foreign Commercial Banks:

I. Citibank,
II. HSBC,
III. Standard Chartered Bank,
IV. Commercial Bank of Ceylon,
V. State Bank of India,
VI. Habib Bank Limited,
VII. National Bank of Pakistan,
VIII. Woori Bank,
IX. Bank Alfalah,
X. ICICI Bank.

 Specialized Development Banks:

I. Bangladesh Krishi Bank,
II. Rajshahi Krishi Unnayan Bank,
III. Progoti Co-operative Land Mortgage Bank Limited,
IV. Grameen Bank,
V. The Dhaka Mercantile Co-operative Bank Limited (DMCBL)
VI. Bangladesh Development Bank Limited,
VII. Bangladesh Somobay Bank Limited (Co-operative Bank),
VIII. Ansar VDP Unnayan Bank,
IX. Basic Bank Limited,

29
 X. Karmasangstan Bank.

 The function of commercial banks in Bangladesh:

The commercial banks of Bangladesh have two main functions, these are receiving deposits and
granting loans. Here, in terms of receiving the deposit, commercial banks in Bangladesh receive
deposits from customers mainly in the form of current accounts, fixed deposits and saving account.
On the other hand, in terms of granting loans, commercial banks in Bangladesh provides loans to the
customer in the form of marketing loans which involve short and long term loans and medium-term
loans. Other types of loans that are provided by commercial banks in Bangladesh includes cash
credit and Bank overdraft (Hassan, 2021)30.

 SWOT Analysis of the banking industry of Bangladesh (Hassan, 2021)31

Strengths Weaknesses
 A leader in economic growth,  Little to no access to rural areas,
 Financial support after a disaster,  Outdated technology which lead to
 Digital Banking convenience. vulnerabilities.

Opportunity Threats
 Move into rural areas,  Data breaches,
 Offer more or lose customers.  Intense competition,

Table 3.1: SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the banking
industry of Bangladesh

30
The contributing role and functions that commercial banks partake in Bangladesh based on my discussions with my
external supervisor; Mr. S.M Rashedul Hassan, Principal Officer, Foreign Trade of Trust Bank Limited.
31
The SWOT Analysis of the banking industry of Bangladesh as discussed with my external supervisor, Mr. S.M
Rashedul Hassan, Principal Officer, Foreign Trade of Trust Bank Limited.
30
Based on the above table, we can see the overall condition of the banking industry of Bangladesh as
displayed in a SWOT analysis. Here in terms of Strengths (Farooq, 2019)32:

 Provider of economic growth:

It is due to the function of the banks that we have been able to witness the gradual economic growth
of Bangladesh. It is due to the deposit and loaning functions of the bank, accompanied by demand
and supply, that this growth has been achieved and has also improved the financial stability and
security of the nation.

 Financial support after a disaster:

After individuals face a loss and/or a natural calamity, the banking industry of Bangladesh assists
these individuals through various insurance, investment and loan options. This provides them with
adequate financial support.

 Digital Banking accessibility:

Due to advances in technology, it has become easier for us to conduct online banking. Here, the
followings actions such as depositing our checks, paying our bills and applying for credit card can all
be done without being physically present in the bank. However, there are other services which will
still be required to be physically present in the bank such as appointment with a financial advisor.

In terms of weaknesses (Hassan, 2021)33:

 Little to no access to rural areas:

A majority of the rural regions in Bangladesh do not have access to banking services which is partly
due to the conflicts that has arisen between the objectives of the banking industry and that of the
government. Another issue is the financial strain banks will face when providing services within
rural areas.

 Outdated technology which lead to vulnerabilities:

32
The overall strengths of the banking industry that is applicable to all countries including Bangladesh.
(https://www.marketingtutor.net/swot-analysis-of-the-banking-industry/#Threats)
33
The weaknesses of the banking industry of Bangladesh based on my discussions with my external supervisor, Mr. S.M
Rashedul Hassan, Principal Officer, Foreign Trade of Trust Bank Limited.

31
Majority of the banks in Bangladesh make use of outdated IT infrastructure in order to host their
online services. For example, there are cases of some banks that do not utilize passwords that are
case sensitive or that prevents customers from using special characters in passwords. This results in
weak passwords and thus makes it easier for hackers to access the customer accounts.

In terms of opportunities (Sarwar, 2021)34:

 Target rural areas:

As aforementioned, as the majority of rural areas has little to no access to banking services, this is a
great opportunity for banks to gain more customers as this will in turn lead to increased revenue.

 Offer more or lose customers:

It is imperative that banks remain up to date with consumer demands and changes in demographics.
Here, having a banking app is not enough as customers prefer to have more options. In other words,
providing what customers want requires adequate market research accompanied by segmenting
customers in order to formulate custom service options for example the needs for students opening
their first account differs greatly from those of business owners and home owners. If banks fail to
address the customer demands, they will lose them to other banks within the competition.

In terms of threats (Farooq, 2019)35:

 Data breaches:

As banks offer more online options, the probability for data breaches increases. For instance,
customers often provide access to their bank details to invoice companies such as Paypal. If these
companies have a breach, hackers have easy access to the personal bank accounts of these
customers. Despite there being no action that can be undertaken by banks for breaches on other
websites, they can ensure that their own website is heavily secured against hackers.

 Intense competition:

34
The opportunities that the banking industry of Bangladesh can benefit from based on my discussions with the Junior
Officer of Trust bank Limited, Mr. Shahriar Sarwar of Banani Branch.

35
The main threats that the banking industries of various countries including Bangladesh faces.
(https://www.marketingtutor.net/swot-analysis-of-the-banking-industry/#Threats)

2
Banks have to undergo intense competition not just with other banks, but also they have to compete
with various other financial organizations including mutual fund companies and insurance
companies. As of now, younger customers including those who have just attained adolescence, are
preferring to receive financial services from fintech companies instead of traditional banks. The
reason for this change of preference is due to the fact that fintech companies are proving to be more
accommodating in establishing a relationship with the needs of its customers such as offering digital
services, online banking, etc. It is imperative that the banking industry of Bangladesh change its
approach if it wants to maintain the younger generation as its customers.

3.2) Competitors of Trust Bank Limited:

The following banks are the main competitors of Trust Bank Limited alongside their market share
(Top Banks in Bangladesh, n.d.)36:

Name of Bank Market share

HSBC (Hong Kong Shanghai Bank)  Revenue BDT 8.75 Billion as of 2017
 Net Income BDT 3.34 Billion as of 2017
 Total Assets BDT 140.81 Billion as of
2017
Dutch Bangla Bank  Revenue BDT 18.51 Billion as of 2017
 Net Income BDT 2.46 Billion as of 2017
 Total Assets BDT 311.91 Billion as of
2017
Sonali Bank  Revenue BDT 23.83 Billion as of 2016
 Net Income BDT 1.49 Billion as of 2016
 Total Assets BDT 1.2 Trillion as of 2016
Islami Bank Bangladesh  Revenue BDT 32.03 Billion as of 2017
 Net Income BDT 4.48 Billion as of 2017

36
Overview of the top banks in Bangladesh who are also the main competitors of Trust Bank Limited based on market
share. (https://corporatefinanceinstitute.com/resources/careers/companies/top-banks-in-bangladesh/)

2
  Total Assets BDT 797.93 Billion as of
2017
Grameen Bank  Revenue BDT 16.94 Billion as of 2016
 Net Income BDT 1.39 billion as of 2016
 Total Assets BDT 229.36 Billion as of
2016
Prime Bank Limited  Revenue BDT 23.32 Billion as of 2016
 Net Income BDT 2.61 Billion as of 2016
 Total Assets BDT 779.6 Billion as of
2016

Table 3.2: Competitors of Trust Bank limited based on market share

3.3) Theory of recruitment policy:

Before any recruitment process taking place or any HR policy being formed, an organization will
first try to optimize resources via (Hassan, 2021)37:

 Skills development:

These refer to the development of specific skills that are in high demand for HR. These are:

I. Employee relations:

Successful companies are dependent on satisfactory employee-employer relationships and the

professionals who reinforce these connections. Hence, being able to identify and resolve employee
concerns and issues before they develop leads to a more satisfying work environment for both
employees and employers alike.

II. Onboarding:

37
Optimization of resources that take place prior to the formulation of a recruitment policy based on my interview with
my external supervisor, Mr. S.M Rashedul Hassan, Principal Officer, Foreign Trade of Trust Bank Limited.
2
2
Onboarding refers to the process that enables new employees to adjust themselves to the social and
performance aspects of their new job quickly and without any issues. Thus companies are seeking
HR Professional who can attract recruits on board to increase their chances of settling happily and
successfully into their new jobs in the long run.

III. HRIS (Human Resource Information Systems):

This is a combination of human resources with information systems. This enables HR activities and
processes to be initiated electronically thus making the overall work pressure lighter and more
efficient for HR professionals. These tools may vary from organization to organization but all of
them offers the core functions that enable HR to operate smoothly.

 Process re-engineering:

This refers to changing the way HR as a function is contributing to the success of the organization or
how HR is assisting other functions to perform optimally. Since in many large companies, HR plays
a strategic role, re-engineering is essential due to:

I) Changes in the business strategy,

II) Changes in the organizational structure,

III) Technological disruption,

IV) Job addition/removal.

 Outsourcing:

Outsourcing in HR involves employing other organizations with the intent of assigning them to
manage personnel functions the administration of compensation such as wages and salary,
incentives, allowances, etc. It also involves hiring, training and legal expertise. The biggest
advantage is that this process reduces the fixed cost of managing employees. HR firms are more
efficient since the talent and infrastructure are already in place. However, there are drawbacks to
outsourcing with the most significant of them being poor internal communication as the outsourcing
company is not on-site and are not aware of the company’s culture. Here, employees cannot go to the
HR office as its off-campus, which may eventually lead to demotivation.

3
As stated above, HR optimization is achieved through the above-aforementioned steps and processes
before deciding on hiring additional resources as the inclusion of additional resources will increase
the fixed cost of the company. Once we have taken the above actions and are not able to solve the
issue, we may proceed to external recruitment.

 Reasons for an HR policy:

The main reason for creating an HR policy is to have a fair consistent process ensuring a smooth
supply of resources. A policy is required so that there is discipline and that people do not do things
the way an individual wants (The Importance of HR Policies and Procedures, n.d.)38.

 The recruitment policy of Trust Bank Limited:

At Trust Bank Limited, modern and up to date policies are followed regarding recruitment and
selection, manpower planning and forecasting and compensation. For performance appraisal, Trust
Bank Limited uses a combination of the balanced scorecard approach and qualitative aspects. The
organization provides attractive policies regarding gratuity, provident funds, and hospitalization and
car loans. Also, the performance bonus is offered alongside leave fare assistance, festival bonus and
workers profit participation fund during the various times of the year (Hassan, 2021)39.

 Nature of the recruiting process, its purpose and importance:

In simple words, recruitment refers to the process of attracting and obtaining as many applications as
possible from eligible job seekers. The main purpose and importance of this process are as follows (5
REASONS WHY EVERY ORGANIZATION NEEDS A RECRUITMENT AND SELECTION
POLICY, n.d.)40:

 Determining the present and future requirements of the firm in combination with its
personnel planning and job analysis activities.
 Increasing the pool of job candidates at minimum effort.

38
The overall importance of an HR policy. (https://harperandhill.com/executive-search/the-importance-of-hr-policies-
and-procedures/)
39
A short summary as to that the HR policy of Trust Bank Limited provides its employees based on my interviews with
my external supervisor, Mr. S.M Rashedul Hassan, Principal Officer, Foreign Trade of Trust Bank Limited.
40
Importance of the recruiting process of Trust Bank Limited.( https://www.yoh.com/blog/5-reasons-every-
organization-needs-a-recruitment-and-selection-policy)

3
  Assisting in increasing the success rate of the selection process by reducing the quantity of
visibly qualified or overqualified job applicants.
 Meeting the organizations legal and social obligations regarding the composition of its
workforce.
 Help reduce the probability that job applicants, once recruited and selected, will leave the
organization only after a short period.
 Increasing organizational and individual effectiveness in the short and long term.

 How recruitment benefits an organization? :

Recruitment presents itself to be a potential source of competitive advantage for the firm. If initiated
effectively, recruitment can assist a company to compete successfully for limited human resources.
Hence, a company must select a recruiting approach that produces the best pool of candidates
quickly and cost-effectively. A recruiting program benefits the firm in several ways (Using effective
recruitment to gain competitive advantage , n.d.)41:

 Attract highly qualified and competitive people,

 Ensure that the selected candidates stay longer with the company,
 Make sure that there is a match between cost and benefit,
 Assisting the firm to create more a culturally diverse workforce.

3.4) Recruitment policy of Trust Bank Limited:

Based on the table below, applicants who are applying for recruitment at Trust Bank Limited are
divided into 2 categories; fresh recruits and lateral entry recruits. Fresh recruits refer to applicants
who have finished their academic studies and have no experience in the job market. Positions are
offered based on the applicant’s academic results. On the other hand, lateral entry recruits include
applicants

41
Advantages offered by the recruitment process for any organization including Trust Bank Limited.
3
(https://greenbeanrpo.com/blog/using-effective-recruitment-gain-competitive-advantage/)

3
who have previous experience within the job industry. Applicants with prior experience in the
financial are preferred but those from other sectors such as marketing, IT, etc are also eligible
(Guideline, n.d.)42.

Table 3.4: The recruitment policy of Trust Bank Limited

3
42
The recruitment of Trust Bank Limited. (https://career.tblbd.com/)

3
3.5) Trust Bank Limited recruitment process:

The following takes places within the recruitment process of Trust Bank Limited (Hassan, 2021) 43:

Step 1:
Manpower
demand/requisiti
Step 2:
Recruitment
Strategy/plannin
Step process
Fig 3.5: The recruitment 3: of Trust Bank Limited
Written
Based on the above diagram the steps taken by Trust Bank Limited in the recruitment process:
Test

 Step 1 (Manpower Demand/requisition):

This is a form used when employers have staff positions to fill. Here, if Trust Bank Limited wants to
make a new employee or replace an employee who is leaving the organization, he/she must submit a
manpower requisition form for approval. This process enables the company to maintain the overall
administrative control of the hiring process and of staffing numbers and expenses that are incurred.
These forms also contain the starting date, job title and job description. They also include the no. of
working hours and pay rate as well as the education and experience required and other job

43
A brief procedure of the steps that occur in the recruitment process of all organizations in Bangladesh in including
Trust Bank Limited based on my discussions with my external supervisor, Mr. S.M Rashedul Hassan, Principal Officer,
Foreign Trade of Trust Bank Limited.

3
qualifications. The job role is listed and the form also states whether the position being offered is
new or not.

 Step 2 (Recruitment strategy/plan):

The recruitment strategy/plan involves the translation of likely Job vacancies and information about
the nature of these jobs into a set of objectives or targets that specify:

I) Number of Contacts:

Organizations, like Trust Bank Limited, plan to attract more applicants than they will hire. Some of
those contacted will be uninterested, unqualified or both. Each time a recruitment program is
considered, one task is to estimate the number of applicants necessary to fill all vacancies with
qualified people. To accomplish this, Trust Bank Limited calculate yield ratios that express the
relationship of applicant inputs to outputs at various decision points.

II) Types of contacts:

This refers to the type of people to be informed about job openings. The type of people depends on
the tasks and responsibilities involved and the qualifications and experience expected. These details
are available via the online job description and job specification as provided above.

 Step 3 (Written Test):

Applicants who are selected through the recruitment plan via the online job advertisement,
newspaper advertisements, etc, are required to undertake a written test. Whoever qualifies for the test
will be eligible for an interview followed by a final interview whereby the applicant, if selected will
be given an offer letter.

3
3.6) Recruitment sources of Trust Bank Limited:

Internal Recruitment External Recruitment

 Present Employees,  Contractual and Temporary workers,
 Employee Referrals,  E-recruitment,
 Former Employees  Advertisements

Table 3.6: Internal and external sources of recruitment of Trust Bank Limited

For their recruitment process to be effective, Trust Bank Limited uses a combination of internal and
external recruitment for the fulfilment of the recruitment process (Sarwar, 2021) 44. Generally
speaking, internal recruitment seeks applicants for positions from those who are currently employed.
The sources for this type of recruitment involves:

 Present employees:

Here at Trust Bank Limited, promotions and transfers from among present employees take place.
This has several advantages (The advantages and disadvantages of internal recruitment , n.d.)45:

 It is beneficial for public relations,

 It increases morale and work performance of employees,
 It encourages competent and ambitious individuals,
 It improves the probability of a good selection as the information regarding the individual's
performance is readily available,
 Those chosen internally are familiar with the organization,

Furthermore, at Trust Bank Limited, using present employees as a source for internal recruitment
acts as a training method for the development of middle and top-level managers.

44
Sources of recruitment that Trust Bank uses for gaining recruits based on my discussion with the Junior Officer of
Trust bank Limited, Mr. Shahriar Sarwar of Banani Branch.
45
The merits of using present employees for internal recruitment. (https://resources.workable.com/stories-and-
insights/advantages-disadvantages-of-internal-recruitment)

3
  Employee Referrals:

Here, at Trust Bank Limited, employees can develop good prospects for their families and friends by
acquainting them with the advantages of a job within the organization, furnishing cards of
introduction and even encouraging them to apply. At Trust Bank Limited, various employees bring
in other new applicants who are their friends and family to apply for the offered job position. This is
an effective method of recruiting as many prospects can be accomplished at a low cost and in an
organization with a large number of employees such as Trust Bank Limited, this method provides a
large pool of potential organizational members (8 Top Benefits Of Employee Referrals – Why You
Must Invest In Employee Referral Programs, n.d.) 46. Here, most employees know from their own
experiences regarding the requirements of the job and the type of individuals the company is looking
for. Often, employees have friends or acquaintances who can meet these requirements.

 Former employees:

In the case of Trust Bank Limited, there are cases of retired employees who may be willing to come
back to work on a part-time basis or may recommend someone who would be interested in working
for the company. Sometimes, individuals who have left the organization for some reason or the other
are willing to come back and work. Individuals who have left for other jobs may be willing to come
back for higher pay and other compensation-related benefits (Internal Sources of Recruitment,
n.d.)47.

On the other hand, external recruitment refers to the process of filling in the job vacancies of an
organization from outside sources. Generally speaking, in terms of external recruitment, Trust Bank
Limited uses:

 Contractual and temporary workers:

46
Benefits of using employee referrals for internal recruitment for Trust Bank Limited.
(https://cvviz.com/blog/benefits-of-employee-referrals/)
47
Usage of former employees as a source of internal recruitment by Trust Bank Limited.

3
(https://www.businessmanagementideas.com/human-resource-management-2/sources-of-recruitment/internal-
sources-of-recruitment/20580)

4
At Trust Bank Limited, contractual workers are recruited on a smaller basis when compared to the
recruitment of regular applicants. In the case of Trust Bank Limited, contractual workers mostly
refer to interns. For Trust Bank Limited, the benefits of using contractual workers are (Sarwar,
2021)48:

 Less expensive,
 There are minimal demands for better wages and benefits, and there is no need to implement
mandatory welfare measurements,
 Trust Bank Limited also has the freedom to hire and fire.

On the other hand, temporary workers refer to those who are employed in an establishment for work
that is temporary and which will be completed within a short period. In the case of Trust Bank
Limited, temporary workers involve financial officers and HR professionals. Furthermore, in using
temporary workers, managers in Trust Bank Limited observe temporary workers identify potential
candidates who can be absorbed on regular basis in course of time (Nature of Recruitment)49.

The single factor that differentiates between contractual and temporary workers is that contractual
workers are limited to clerical and or maintenance roles.

 E-recruiting:

Nowadays, nearly every organization including Trust Bank Limited use e-recruiting or online
recruiting as is most commonly known, is the most sought after source of external recruitment. Job
portals such as BDJobs.com, Chakri.com and Job.com.bd enables recruiters to reach out to a large
audience. This source is used widely for entry and mid-level positions. Furthermore, most
companies, including Trust Bank Limited has recruitment websites where applicants can submit their
CV’s.

Here, employers can electronically screen candidate’s soft attributes, direct potential hires to a
special website for online skill assessment, conducting background check over the internet and
interview

4
48
Usage of contractual and temporary workers including its merits by Trust Bank Limited for external recruitment
based on my discussion on the matter with the Junior Officer of Trust bank Limited, Mr. Shahriar Sarwar of Banani
Branch.
49
The usage of temporary workers by Trust Bank Limited.

4
candidates through video conferencing and manage the entire process with web-based software. This
source of external recruitment benefits Trust Bank Limited through:

 Wide Reach,
 Saving cost and speed enhancement,

Furthermore, applicants also benefit in the sense that they have access to a broader array of company
postings than was possible earlier (Recruiting Talent)50.

 Advertisements:

This is a popular source of external recruitment due to many recruiters including those of Trust Bank
Limited preferring advertisements due to their wide reach. Recruitment via advertisements includes
the job description and its benefits, identifies the employer and informs those who are interested in
how to apply. For highly specialized recruits, advertisements may be placed in business journals.
This source of external recruitment is mostly conducted in newspapers. A sample of these
advertisements can be viewed in the appendices (Nature of Recruitment)51.

3.7) Issues within the recruitment process of Trust Bank Limited and its solutions:

There are certain issues within the recruitment process of Trust Bank Limited (Sarwar, 2021) 52. These
are:

 Attracting the right candidates: Recognizing the right candidate in a pool of unqualified
candidates can be a daunting task for most organizations including Trust Bank Limited.
Oftentimes, the best candidate is selected who may not be the best fit for the job (i.e.: He/She
may have excellent academic qualifications but may not have the required job knowledge). In
most cases, it is not always about the number of candidates who apply. Therefore, the best
way to hire the right people is often from a smaller number of more qualified talent. To solve
this

50
E-recruitment used as a source of external recruitment by Trust Bank Limited alongside its merits.
51
Advertisements used as a source of external recruitment.
52
Issues within the recruitment process of Trust bank Limited based on my discussion with the Junior Officer of Trust

4
bank Limited, Mr. Shahriar Sarwar of Banani Branch.

4
 issue, Trust Bank Limited must be clear about the requirements in their job advertisements
and provide a clear and concise view of the job role being offered.

 Engaging qualified candidates:

Good candidates are often contacted regularly by recruiters thus making it harder for Trust Bank
Limited to make their offers stand out from the crowd. Not only that, candidates with hard to find
skills are often considering several jobs offers at the same time. Hence before initiating contact with
a passive candidate, it is of utmost importance for Trust Bank Limited to research what motivates
and makes them happy in their job. Through this knowledge, Trust Bank Limited can personalize
their sourcing emails to describe what the company can offer the candidate instead of what the
candidates can do for the company.

 Fast Hiring:

Hiring teams want to hire the best candidates as efficiently as possible as vacant positions cost
money and delay operations. However, varying on the industry, hiring can take several months thus
becoming a frustration on recruiters and frustration on hiring teams. Also, the long duration of hiring
may signal a shortage of qualified candidates. In essence, the hiring process may be extended
otherwise hiring team’s might struggle to make timely decisions, thus prompting potential candidates
to seek jobs elsewhere. To tackle this issue, Trust Bank Limited must review its recruitment process
to seek and eliminate any unnecessary stages. The company must also maintain communication with
candidates. Furthermore, long durations of hiring occurs when the companies are hiring for hard to
fill roles. Thus, it is important to explain this to the hiring teams and set expectations early on.
Explaining to the hiring teams the importance of proper hiring for roles whereby a bad hire could
cost a lot of money is of utmost importance.

3.8) Impact of the Covid-19 crisis on the recruitment process of Trust Bank Limited:

The COVID-19 pandemic has greatly affected the corporate world. Furthermore, as I am doing my
internship being physically present while the second lockdown was announced, upon further

4
discussion with my colleagues and supervisor, the lockdown will lead to the automation of various
official tasks within Trust Bank Limited (How the Covid-19 pandemic affects reruitment , n.d.) 53:

 Interviews will not be conducted face to face:

Due to the COVID-19 pandemic second wave, companies like Trust Bank Limited are now
operating remotely and allowing their employees to work from home. The main purpose of this
arrangement is to avoid physical contact and encourage social distancing to prevent the virus from
spreading further. Even in recruitment, Trust Bank Limited cannot meet the candidates in person as
the office will be restricted. As a result, job interviews will now be initiated via video calls thus
resulting in rapid changes in the recruitment process as more and more companies will now integrate
with virtual interview apps such as Jobvite, Google meet and zoom or incorporate an applicant
tracking system that enables them to effortlessly continue recruitment operations remotely.

 A lesser number of positions are now open:

Trust Bank Limited, like other organizations, has found itself in the unfortunate situation of laying
off employees. Due to the uncertain situation of the second wave of the COVID-19 pandemic,
companies all over the world are experiencing this situation whereby they are trying to reduce costs
that will enable them to manage themselves through these troubled times. The biggest effect of these
turn of events is that companies will be less open to hiring a new workforce, eventually limiting the
number of job openings within the organization.

 Onboarding occurs remotely:

Before the COVID-19 pandemic, onboarding did not occur frequently for employees who have
already been hired. Organizations now are initiating virtual onboarding programs for the new hires
as a result of the lockdown. Every aspect from the induction to team orientations are now happening
remotely with the assistance of various onboarding software that enables the management to carry
out the operations efficiently.

53
How the Covid-19 pandemic has affected the recruitment process for all organizations including Trust Bank Limited.
(https://talentadore.com/how-the-covid-19-pandemic-affects-recruitment/)

4
 Chapter 4

Discussion/implications:

Overall, it was a memorable experience doing my internship at the Banani branch of Trust Bank
Limited. The employees were very helpful even though it was impossible to find out about so many
things during the very short tenure of my internship program. Given below are the suggestions that
can be used to improve customer service to fulfil the satisfaction of the customers hence increasing
their preference towards Trust Bank Limited:

 The number of security cameras and guards must be increased. The camera must be checked
every month to ensure that it is functioning properly. Furthermore, a metal machine at the
entrance should be used and supervised properly.
 The quantity of ATM Booths must be increased. As of now, there are 232 ATM booths
around the country while other banks such as Dutch Bangla Bank Limited has a total of 4419
ATM booths. In increasing the quantity of ATM booths, Trust Bank Limited will be able to
reach out to more customers and potential users.
 As every operation within Trust Bank Limited is server-based, issues with slow servers are
very common. This creates inefficiency and lengthens the workload of employees. Hence,
Trust Bank Limited must update its current software or search for a better alternative.
 The recruitment website of Trust Bank Limited should provide more information as to why
applicants should apply to Trust Bank Limited and as to what makes their organization
different from others.

Conclusion:

To conclude my report, it was a great pleasure for me to do my internship program in a recognized

organization like Trust Bank Limited. During the tenure of my internship program, I have gathered
adequate knowledge of the banking industry. Furthermore, I have also improved my interpersonal
communication skills when communicating with my colleagues and superiors. Within this report, I
have tried my utmost level to cover the focus of my topic which was the recruitment policy of Trust
Bank Limited.

4
The main reason for my selection of this topic is since the importance of recruitment is a huge factor
for the success of any organization as the selection and engagement of the right people for the right
job is essential for the growth of the company. A recruitment process that can reduce the time
involved in searching and interviewing and recruiting the candidate leads to a reduction in training
cost thus making the process efficient.

While on the other hand, having an inefficient recruitment policy can create issues for the
organization in the form of a lack of productivity. Generally speaking, companies rely on their
employees to be successful, hence hiring the right people is crucial for the accomplishment of the
organizational goals. Here, a wrong hire due to an inefficient recruitment policy negatively affects
the teamwork and productivity of good employees. This may be a rare occurrence for upper-level
management employees, but employees from the lower levels of management may need to take the
underperforming employees duties and in doing so, may lead to feeling overworked and frustrated.
Furthermore, bad hires create negative attitudes in the workplace. Due to reducing the morale of
other employees, good employees may leave the organization.

4
 References

Online websites:

 About Us | Trust Bank Ltd. Tblbd.com. (2021). Retrieved from

https://www.tblbd.com/about- us/profile.
 Who we are | Trust Bank Ltd. Tblbd.com. (2021). Retrieved from
https://www.tblbd.com/about-us/who-we-are.
 Vision and Mission | Trust Bank Ltd. Tblbd.com. (2021). Retrieved from
https://www.tblbd.com/about-us/Vision-Mission.
 Our Values | Trust Bank Ltd. Tblbd.com. (2021). Retrieved from
https://www.tblbd.com/about-us/our-values.
 Board of Directors | Trust Bank Ltd. Tblbd.com. (2021). Retrieved from
https://www.tblbd.com/about-us/board-directors.
 CV Bank - Home. Career.tblbd.com. (2021). Retrieved from https://career.tblbd.com/.
 Process, P. (2021). The strategic importance of the Recruitment and Selection Process in a
Company – People Process. Peopleprocess.com.ar. Retrieved from
https://peopleprocess.com.ar/en/blog/2020/01/24/the-strategic-importance-of-the-
recruitment-and-selection-process-in-a-company/.
 How the COVID-19 Pandemic Affects Recruitment | TalentAdore Blog. TalentAdore.
(2021). Retrieved from https://talentadore.com/how-the-covid-19-pandemic-affects-
recruitment/.
 Internal vs External Recruitment | Empire Resume. Empire Resume. (2021). Retrieved from
https://empireresume.com/internal-vs-external- recruiting/#:~:text=Internal%20recruitment
%20is%20where%20a,are%20not%20currently% 20working%20there.
 Why is the Recruitment and Selection Process Important? Contrain Employment Agency.
(2019, February 25). https://contrain.biz/baza-wiedzy/why-is-the-recruitment-and-selection-
process-important/#start.
 The Importance of HR Policies and Procedures. harperandhill. (2018, September 6).
https://harperandhill.com/executive-search/the-importance-of-hr-policies-and-procedures/.

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  S, N. (n.d.). Role of Banks in the Economic Development of a Country.
https://www.economicsdiscussion.net/banking/role-of-banks-in-the-economic-development-
of-a-country/26094.
 Purpose of Banks. (n.d.). [web log]. https://www.economicshelp.org/blog/glossary/banks/.
 Hall, M. (2020, September 16). How the Banking Sector Impacts Our Economy.
Investopedia. https://www.investopedia.com/ask/answers/032315/what-banking-sector.asp.
 Farooq, U. (2020, December 29). SWOT Analysis of the Banking Industry. Marketing Tutor.
https://www.marketingtutor.net/swot-analysis-of-the-banking-industry/#Threats.
 Bhasin, H., Umair, M., & Gst, A. (2019, May 14). SWOT analysis of Banking industry -
SWOT analysis of Banks - Bank SWOT. Marketing91. https://www.marketing91.com/swot-
analysis-of-banking-industry/.

Online Articles where author is known:

 Schawbel, D. (2021). Why Recruiting Is Vital to Your Success [Blog].

https://www.americanexpress.com/en-us/business/trends-and-insights/articles/why-
recruiting-is-the-most-important-hr-function/.
 Brouard, C. (2021). How effective recruitment contributes to business success [Blog].
https://www.myhrtoolkit.com/blog/effective-recruitment-contributes-business-success.
 Matsangou, E. (2021). How firms can make recruitment more successful and less costly
[Blog]. https://www.europeanceo.com/business-and-management/how-firms-can-make-
recruitment-more-successful-and-less-costly/.
 How Covid-19 is affecting recruitment in 2020 and beyond. (2021). [Blog].
https://www.annualleave.com/how-covid-19-is-affecting-recruitment-in-2020-and-
beyond/.
 WILKINSON, M. A. R. K. (n.d.). Internal VS External Recruitment: Benefits and
Disadvantages [web log]. https://responsewebrecruitment.co.uk/online-recruitment-
blog/internal-vs-external-recruitment/.

4
Online articles where author is unknown:

 5 REASONS WHY EVERY ORGANIZATION NEEDS A RECRUITMENT AND

SELECTION POLICY. (2018, July 11). [web log]. https://www.yoh.com/blog/5-reasons-
every-organization-needs-a-recruitment-and-selection-policy.
 Faragher, J. (2020, June 4). How coronavirus has driven innovation in recruitment.
https://www.peoplemanagement.co.uk/long-reads/articles/how-coronavirus-driven-
innovation-recruitment#gref.
 Internal vs. External Recruitment: Benefits, Costs & Best Practices. (n.d.). [web log].
https://www.digitalhrtech.com/internal-vs-external-recruitment/.
 Using effective recruitment to gain competitive advantage. (n.d.). [web log].
https://greenbeanrpo.com/blog/using-effective-recruitment-gain-competitive-advantage/

Textbook:

 DESSLER, G. A. R. Y. (n.d.). Human Resource Management (16th ed.). Pearson .

 Belcourt, M. (n.d.). Strategic Human Resource Planning . Cengage Learning .
 Armstrong, M., & Taylor, S. (2020). Armstrong's handbook of human resource
management practice. KoganPage.
 Noe, R. A., Hollenbeck, J. R., Gerhart, B. A., & Wright, P. M. (2020). Fundamentals of
human resource management. McGraw-Hill Education.

Chapter in book:

 Dessler, G. (n.d.). Personnel Planning and Recruiting . In G. Dessler (Ed.), Human Resource
Management By Gary Dessler (16th ed., pp. 130–169). essay, Pearson.
 Aswathappa, K. (n.d.). Recruiting Talent. In HUMAN RESOURCE MANAGEMENT Text
and Cases (7th ed., pp. 190–220). essay, McGraw Hill Education (India) Private Limited.

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 Appendices

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4