BACKGROUND OF INDUSTRIES IN BANGLADESH

Bangladesh started focusing on a socialist economy through

nationalizing all industries after being sovereign from

Pakistan in 1971. This in turn led to inefficiency as well as

economic stagnation. In the year of 1975, the government

started to provide better opportunity to private sector

involvement in the economy. A lot of state-owned enterprises

like telecommunication, jute, banking, media, aviation etc.

have been privatized. The signs of progress in Bangladeshi

economy have been started to be visible from 1980s especially

after establishments of economic policies that were aimed to

encourage private sector. From early 1990s, dependence on

imports and foreign aid has decreased gradually as well.

Furthermore, spectacular development in remittance inflow and

exports helped the economy to increase at a stable rate

(Economy of Bangladesh, 2013).

In the article titled “Branding Bangladesh: India's Neighbor

Is Becoming A Major Startup Hub“, Anushey Hossain (2014)

mentioned that being the developing country, Bangladesh is

going forward in business sector by inspiring entrepreneurship

and could be next startup hub of Asia being a land of

opportunity even after having shortcomings due to poverty,

natural disaster, corruption, unstable political situation

etc. This country has already become a place that enables

women. This path certainly provides females an empowering

edge. A good number of successful women build businesses in

Bangladesh, and this country has an outstanding track record

for empowering women in business and finance. 1

EVALUATION OF INDUSTRIES IN BANGLADESH

Article Top group of companies in Bangladesh (2013) states

that after 43 years of independence, economy of Bangladesh is

moving forward and private sectors (group of companies) of the

country are playing a crucial role through increasing the

yearly revenue with an upward trend. Besides contributing to

country economy, these groups of companies are also working

for mass people welfare via initiating various corporate

social activities.

2

Here are details of the top group of companies in

Bangladesh that are contributing to the country’s

economy:

Name ofthe

Organization

Establishment Year

WorkingCapital(BDT)

WorkForce

Numberof

Companies

Products/Industry

ACI Limited 1968 226020000

More than 9000

10

Chemicals, foods, Pharmaceuticals, consumer products, logistics, consumer electronics, automobile services, communication

Square Group 1958 222539700

0

More than 22000

8Pharmaceuticals, consumer goods, textile, agriculture

BEXIMCO Group 1972 3600

crore

More than 48000

12

Pharmaceuticals, textiles, ceramics, aviation, media, finance, real estate, construction

Navana Group 1964 483704773

More than 8000

19

Pharmaceuticals, textiles, IT, ceramics, jute, aviation, media,  finance, real estate, construction, energy

Paradise Group 1989  -  - 12

light engineering, electrical cable, textile, real estate

Orion Group 1985  -

More than 18000

11

Pharmaceuticals, cosmetics & toiletries, infrastructure development, real estate, construction, power, agro, hospitality, textiles,aviation

Abul Khair Group

1953 1000000000 10000 8

Cement, steel, consumer goods, tobacco

3

Akij Group 1940  - 32000 20

Textiles, tobacco, cement, ceramics, printing, pharmaceuticals, consumer products

Ananda Group 1983  -

More than 7000

8Ship building, heavy engineering, textiles,real estate, shipping

Bashundhara Group 1987  - 15000 20

Property development, cement, paper, steel, food

City Group 1972  -  10000  24

Consumer goods, foods,steel, printing & packaging, shipping, power & energy

Concord Group  1973  =

 More than 9000

 15

Construction, real estate, architecture &design, communication,entertainment, hospitality, garments

Globe Janakantha Shilpa Paribar

 1969  Total expected yearly turnover:5 crores

 4500  8

Construction, engineering, electrical cables, information technology, printing, media

Grameen  1983  -- More than 55000

 13 Banking, telecom, software, fisheries

Habib Group  1947

 Yearly revenue 3400 crore

 More than 2000

 7Aviation, cement, paper, energy, steel, textile

Jamuna Group  1974  -    16

Textiles, chemicals, construction, leather,engineering, beverages, media, advertisement

Meghna Group Industries

 1976

 Yearly turnover 16000000000

 More than 15000

 32

Chemicals, foods and beverages, printing and packaging, shipping, insurance

MGH group  1992  - More than 8000

 8

Logistics, supply chain management, aviation services, food & beverage,

4

distribution, shipping, information technology, media, entertainment

M. M. Ispahani Limited

 1820  -  10000  14Tea, textiles, jute, shipping, real estate,food

Navana Group  1964  -  -  19

Marketing, construction, real estate

Partex Group  1959  -  10000  31

Textiles, foods and beverages, jute, real estate, shipping

Rangs Group  1913  -  5000  12

Automobile, electronics, real estate, shipping

Summit Group  1985

 Net operatingincome is3.19 billion(2013)

 2000  11Communication, trading, energy & power, shipping

Transcom Group  1985  -  8000  10

Beverage, pharmaceuticals, newspaper, radio, electronics, foods, distribution

Rahimafrooz  1954  -  - 10 Automotive, batteries,

retails (Agora brand)

Kazi Farms Group

 1996  -  1000

 21 sisterconcerns

Poultry

PRAN-RFL Group  1981

 Yearly revenue 123.3 billion (2012)

 3000  - Consumer goods

Source:

http://bangladeshpage.hubpages.com/hub/Top-group-of-companies-in-

Bangladesh

http://en.wikipedia.org/wiki/List_of_companies_of_Bangladesh

5

http://www.aci-bd.com/ACIFL_Financial_Statements_30_Sep_%202013.pdf

http://www.bangladeshdir.com/webs/catalog/aci_limited.html

http://www.squarepharma.com.bd/files/1.%20Communication%20On

%20Progress%20Jul%202006-Jun%202007.pdf

http://textile.squaregroup.com/downloads/half_yearly_2013.pdf

http://en.wikipedia.org/wiki/Beximco

http://www.beximco.com/about.php

http://www.navana.com/index.php?page_id=180

http://www.orion-group.net/about_us.php

http://en.wikipedia.org/wiki/Obaidul_Karim

http://en.wikipedia.org/wiki/Abul_Khair_Group

http://web.abulkhairgroup.com/akgroup/

http://www.akijonline.com/

http://www.anandagroup.biz/index.php/about-us-1

http://en.wikipedia.org/wiki/Bashundhara_Group

http://en.wikipedia.org/wiki/City_Group

http://www.citygroup.com.bd/Content.php?

pageType=Corporate&Type=1&id=51&PageId=1

http://en.wikipedia.org/wiki/Concord_Group

http://www.concordgroup.net/#home

http://en.wikipedia.org/wiki/Globe_Janakantha_Shilpa_Paribar

http://www.globe-janakantha.com/

http://en.wikipedia.org/wiki/Grameen_family_of_organizations

http://en.wikipedia.org/wiki/Habib_Group

http://habibgroupbd.com/

http://www.jamunagroup-bd.com/

http://en.wikipedia.org/wiki/Jamuna_Group

http://en.wikipedia.org/wiki/MGH_group

http://www.mghgroup.com/

http://www.meghnagroup.biz/

http://en.wikipedia.org/wiki/Meghna_Group_of_Industries

6

http://en.wikipedia.org/wiki/M._M._Ispahani_Limited

http://www.ispahanibd.com/

http://www.navana.com/

http://en.wikipedia.org/wiki/Navana_Group

http://www.partexgroup.com/

http://en.wikipedia.org/wiki/Partex_Group

http://en.wikipedia.org/wiki/Rangs_Group

http://www.rgc.com.bd/about.htm

http://en.wikipedia.org/wiki/Summit_Group

http://www.summitgroupbd.com/index.php

http://www.transcombd.com/

http://en.wikipedia.org/wiki/Rahimafrooz

http://www.rahimafrooz.com/Default.aspx

http://www.kazifarms.com/

http://en.wikipedia.org/wiki/Kazi_Farms_Group

http://en.wikipedia.org/wiki/PRAN-RFL_Group

The economy of Bangladesh, a very prospective developing

country in Asia, is rising upward through expanding several

industries. After more than 30 years of its sovereignty, this

country has around 30 conglomerates operating in versatile

industries such as: chemicals, foods, pharmaceuticals,

consumer products, logistics, consumer electronics, automobile

services, communication, media, print, IT etc.

Quite a few of this group of companies are operating in this

country from prior to its independence and these giant groups

include: ACI Limited, BEXIMCO Group, AbulKhair Group,

AkijGroup, M. M. Ispahani Limited, Navana Group, RangsGroup,

PartexGroup, Rahimafrroz etc. From 1980s a good number of

7

private owned group of companies have been established and

started to contribute in the country’s emerging economy and

the number of local conglomerates is increasing till now.

This, in turn, provides the local manpower to use their skill

and thus reduces unemployment problem that has become a

serious issue for Bangladesh.

These group of companies not only strive to maintain global

standard in terms of product or service quality but also they

try to follow world class HR policies through establishing

Human Resource department which works to ensure the company

hires the best fitted employees for different position with a

high retention rate, provide job satisfaction and ensure the

employees are working ethically as well as working in order to

achieve organizational

goal.

HISTORY OF IFAD GROUP

IFAD group has been established in the year of 1985 with it’s

the establishment of IFAD Autos Limited. The growth of IFAD

group was moving upward with the formation of another concern

IFAD Enterprises Ltd. In short, this conglomerate of

Bangladesh has started its business in two different

industries: automobile and electronics industries in 1980s.

From the beginning of the 21st century, IFAD Group has

expanded itself to the consumer and agro industry. IFAD Multi

8

Products Ltd. had entered the consumer industry by

manufacturing as well as supplying quality Atta, Moyda and

Suji, followed by consumer iodized salt and industrial salt.

And what set these goods separate from the conventional were

the company’s mandate to deliver the country with

uncompromising quality, testified by international

standardizations and certifications.

Furthermore, from 2010, there was an increase in the consumer

product line including premium drinking water, noodles,

crackers, custard cakes and biscuits. This group also founded

the IFAD Agro Complex Ltd. which supplies to the Hatchery and

Fishery Industry of Bangladesh. IFAD Enterprises Ltd. is

another one of IFAD Group’s companies that traces back to the

very beginning of its business activities.

It has taken on a lot of government projects and presently

supplies ELGI industrial compressors from India (NEWS.COM,

2011).

S/N Company Name Year of

Establishment1 IFAD Autos Limited 1985

2 IFAD Enterprises Limited 1988

3 IFAD Multi Products Limited 2003

4 IFAD Agro Complex Limited 2004

9

EVALUATION OF IFAD GROUP

Taskeen Ahmed (2014) reported that the contribution of IFAD

Group of companies in Bangladeshi economy has become very

crucial with their expansion of business. They are the 6th

biggest importer in Bangladesh as of 2012-2013 fiscal year and

according to Bangladesh Bank, they are one of the top 10

creditworthy groups in Bangladesh; total group liability

exposure with bank is over 300 million us dollar.

Taskeen Ahmed (2014) also mentioned that the basic HR

strategies have been followed by IFAD group of companied. But

few unique strategies exist over there as well. They have more

than 3000 employees and among them more than 50 people are

working for last twenty years. Companies provide unique

benefit plan for these loyal employees and that is, they get

50% of their salary per month rest of their lives after their

retirement. IFAD Group initiated and encourages women

empowerment. Currently there are more than 300 women working

in different department in four companies of this Bangladeshi

conglomerate with a very high employee retention rate.

HRM is completely related with its management process in IFAD.

From recruitment to compensation, employee increments, salary

structure and all other future probable actions are built by

consulting with the management. The companies deal with

employee need analysis, recruitment and selection, evaluation,

motivation, training, compensation etc. They believe their HR

is completely fine-tuned with IFAD Group’s organizational

goals and strategies as they know what kind of people for what

10

kind jobs are needed; hence, they always build workforce in a

way that will meet organizational goals.

All the four concerns of IFAD Group maintain quality very

strictly. Hence, they got president award for quality and

production in 2011. Along with this, Bangladesh bank has

declared them as one of the 10 top most creditworthy groups in

the country. Furthermore, they got “Krishi Rotno” award from

Prime Minister (Taskeen Ahmed, 2014).

11

COMPANIES OF IFAD GROUP

Features Company Figure

Year of Establishment

IFAD Autos Limited 1985IFAD Enterprises Limited 1988

IFAD Multi Products Limited 2003

IFAD Agro Complex Limited 2004

Industry

IFAD Autos Limited AutomobilesIFAD Enterprises Limited Electronics

IFAD Multi Products Limited Consumer goods

IFAD Agro Complex Limited Agro

Product

IFAD Autos LimitedBus, Covered van, Open truck, special vehicle

IFAD Enterprises Limited

 Industrial compressors

IFAD Multi Products Limited

 Flour, salt, noodles, water, biscuits, whole spices

IFAD Agro Complex Limited  Fish, farming

Total Workforce IFAD Group  3000Number of Foreign Employees IFAD Group 9

Total Working Capital IFAD Group  7000 Crores BDT

(apprx.)Total Managerial andNon managerial Employees

IFAD Group More than 300 managerial employees

Employees and Business Increase % (last ten years)

IFAD Group 300%

Total Export to Foreign Country

IFAD Group Started exporting oneyear back and total export as of last

12

year is $350000Core Export Items (last 5 years) IFAD Group Biscuit, noodles,

salt, snacks items Import from ForeignCountry IFAD Group Annual $100millions

(approx.)Employee Retention Rate (%) IFAD Group 95%

Total Production Capacity IFAD Group

Flour- 200 tons per dayBiscuit- 10 tons per shiftNoodles- 6 tons per shiftWater- 16000 tons pershiftSalt- 40000 tons per yearAssembling Ashok Leyland trucks/buses - 3000 units

13

Source: Taskin Ahmed (2014) http://www.ifadgroup.com/ifad_enterprise/

index.html

http://www.ifadgroup.com/autos_final/home.php?page=about

http://www.ifadgroup.com/home.php?page=about

http://www.ifadgroup.com/ifad_agro/index.html

http://ifadgroup.com/multiproducts/home.php?page=company

Taskin Ahmed (2014) summarizes that IFAD Group of Companies

currently operating in four industries in Bangladesh which are

automobiles, consumer goods, electronics and agro industries

by operating through its four different concerns.

IFAD Autos Limited is operating in automobile industry

via assembling and ensuring availability if bus, covered

van, open truck, special vehicle etc;

IFAD Enterprises Limited is doing this in electronics

industry through industry compressors; whereas-

IFAD Multi Products Limited is engaging themselves in

consumer goods industry through producing and supplying

Flour, salt, noodles, water, biscuits, whole spices etc.

to consumers.

Finally, IFAD Agro Complex Limited is operating in agro

industry of Bangladesh by farming as well as establishing

and running fisheries.

Currently, more than 3000 employees are working in IFAD Group

with a very high retention rate (95%) and among them 9

employees are citizens of foreign countries and more than 300

are managerial employees with decision making power. The rate14

of Employment and business increase in last ten years is 300%

of this conglomerate.

Each of the companies is contributing the country’s economy

very significantly. This giant group of industries has

started exporting one year back and total export as of last

year is $350000 by exporting biscuit, noodles, salt, snacks

items. In contrast, IFAD Group imports annually $100 millions

(approx.) worth of goods from foreign countries.

15

CENTRAL ISSUES OF IFAD GROUP

Taskin Ahmed stated that every concern of IFAD Group has a

unique story and yet they belong under one umbrella which is

this giant group of companies of Bangladesh. All four

companies are engaged in different industries and hence rules

and regulations vary as well; but the core issues are similar

and treated with similar height of importance.

MISSION STATEMENT

“Mission of IFAD Group is to expand and continually

improve utilizing quality practices and employee

involvement to produce food products while practicing

highest standard in quality and hygiene, for human

consumption, both in the domestic and international

markets that result in customer and employee

satisfaction” (IFAD Group, 2013).

VISION STATEMENT

IFAD Group’s vision summaries who they are, where they

want to reach and how they desire the whole world to see

them as a corporate citizen.

They are a leading organization, and their belief in

being a leading company does not only mean striving to be

bigger; but it also means pursuing the best in terms of

customer service, employee, consumer value, talent as

well as constant and foreseeable growth where they want

16

to reach: is at the deepest core of the consumer mind,

where they want to instill that they are not just a

business that produces and delivers food; but rather an

everyday companion of all their valued customers to meet

their requirements.

They want to build a culture that envelops every single

employee of theirs within a sphere of ethics. Loyalty as

well as job satisfaction.

They will always take into consideration the impact of

their activities on the environment and they will take

every required step to protect the stage that has given

them the room to flourish for generations to come (Taskin

Ahmed, 2014).

QUALITY MAINTENANCE AND SAFETY POLICY

IFAD Group intensely believes that customer satisfaction

is the basic component of the quality and food safety

Policy.

They are committed to produce high quality wheat products

(e.g. Atta, Maida and Suzi), which are safe for human

consumption to our customers and end users. IFAD Multi

Products Limited is committed to achieve this by using

high quality raw wheat with the help of automatic plant &

machinery, trained & skilled manpower and following the

requirements of ISO 9001:2000 Quality Management System

(QMS), HACCP and regulatory body. 

17

It is the responsibility of all employees of IFAD Multi

Products Limited to follow personal hygiene, sanitation,

pest control and plant safety rules.

The Quality & Food Safety Policy is communicated to all

personnel by presenting it at prominent locations and via

awareness sessions. The Top Management of IFAD Multi

Products Limited is devoted to constant improvement of

its processes (IFAD Group, 2013).

Source: http://ifadgroup.com/multiproducts/home.php?page=company

18

EMPLOYEE CODE OF ETHICS

Code of ethics of employees’ honesty must be

practiced at all time.

No confidential company information should ever be

revealed to third parties and all personnel must respect

the workplace and private properties of their fellows

No employee may suppress knowledge where such action will

allow another staff to fail or otherwise suffer.

Company assets must never be misused or occupied for

personal usage.

Personal business should never be commenced during

business hours without prior authorizations of the

company.

No employee or any of their immediate family members may

have any monetary interest (direct or indirect) in any

business that competes with the company or with which the

company has business dealings; unless that interest

and/or relationship has been acknowledged to the

organization and a waiver has been received.

No employee should ever accept a gift, may it be in any

form from a vendor or customer.

No staff may at any time accept a free merchandise sample

from a retailer, wholesaler or client.

An employee may not enter into any other remunerated

employment or provide consultancy where he/she might get

any kind of compensation from another organization.

The use of company vehicle is only allowed for the

purpose of performing regular company business.

19

HUMAN RESOURCE PRACTICE

IFAD GROUP

“HR planning involves attracting, hiring, developing and

maintaining workforce in the accomplishment of organization20

goals. This includes existing workforce analysis and tunes it

with future employment needs.”

21

HRM PARADIAM OF IFAD GROUP

22

JOB ANALYSIS>Set by respective department>Send to HRD

RECRUITMENT & SELECTION>Both from internal & external sources>> Internal sources for Sales

ATTRACTING

RECRUITMENT & PLACEMENT

EMPLOYEE TESTING & SELECTION>Based on -Performance -Skill

-Attitude -

INTERVIEWING CANDIDATES>Done in two phrases>Board Interview>Interview with

DEVELOPING

TRAINING & DEVELOPMENT

ORIENTATION>Warm orientation>Meeting co

TRAINING & DEVELOPMENT>On the job training by supervisor>As required by the performance

PERFORMANCE APPRAISAL>Formal procedure used as employee training tool>Structured format, done semi-

COACHING, CAREER & TESTING>Performed by supervisor>Promotion based on performance appraisal & competency

23

ESTABLISHING STRATEGIC PAYPLANS

>Competency based pay plans>Commission based pay plansfor SRs

PAY FOR PERFORMANCE>Special benefits for bestperformers>Can have up to four timesincrement in basic salary

MAINTAINING

COMPENSATION & BENEFITS

BENEFITS & SERVICES>Based on overall contribution and dedication>Unique retirement policy: 50% of basic salary delivered at home monthly after retirement of more than 20 years of service>Child education allowances

EMPLOYEE RELATIONS

ETHICS, JUSTICE & FAIR TREATMENT>Focus on ethical conducts towards job, co-worker, company & competitors>Avoid unfair competition with co-workers & competitors>Ensure customer service with integrity

LABOR RELATION>Believes the employees and the org. is a part of each other>Promotes the workplace as a home away

EMPLOYEES SAFETY & HEALTH>Medical checkup facilities>Ensures workplace safety in all possible

ATTRACTING

24

RECRUITMENT AND PLACEMENT

JOB ANALYSIS

Job analysis involves with forecasting which considers the

past and present prerequisite as well as possible future

organization directions and assumptions. The HRD of IFAD

analyses jobs by forecasting estimated future human resource

needs.

When any department needs employee they inform it to HR

department.

The information regarding the task and type of employee

needed are made by the respective department based on

that HR develops job description and specification.

HR then find out what type of employees should be hired,

what the job entails and what human requirement is needed

for the job.

The job specifications for higher positions are fine

tuned with the time and job specification for lower level

positions remains same most of the time.

RECRUITMENT & SELECTION

25

Recruitment & Selection is another most significant component

of IFAD’s HRD. Through successful recruitment IFAD hires

competent staffs who will perform to their best abilities. The

management and employees can work together towards the success

and sustainability of the organization by means of adherence

and dedication to achieve goal and objective.

Sources of Recruitment

There are two kinds of sources that IFAD used for recruitment.

These are:

Internal Sources

External Sources

Internal Sources

Promotions and transfers are typically decided by responsible

department in association with the HR department. Sometimes

current employees provide recommendation to fill the lower or

mid-level position. In IFAD most of the Marketing level

positions are filled by the internal sources, because IFAD

want specialized expertise for sales representative positions

so ensure maximum sales growth.

External Sources

IFAD believes that to look outside of the organization for

applicants to innovate the encouragement. The external sources

start from the job advertisement on different online and off

line media.

EMPLOYEE TESTING & SELECTION26

There are some criteria for employee testing and selection

developed by IFAD HRD.

Employees are selected by their knowledge experience and

attitude and Ethics.

The category for age, gender, experience, location, and

skill should be met for final selection.

In case of factory workers, their efficiency in machine

operation is also tested.

Candidate with lobbing is highly avoided.

After selecting potential CVs the candidates’ information

like address, past record etc are investigated

thoroughly.

INTERVIEWING CANDIDATES

Ifad develops is interview process in a way that makes

interview process a fair one. After initial screening by HRD,

very selective candidates are called for interview.

An interview is done by a panel or board consisting of HR

manager, direct supervisor, and head of department.

In second place, successful candidates are called for

final interview with top management of IFAD.

After that selected candidates are given appointment

letters and training begins.

27

MAJOR ACTIVITIES OF RECRUITMENT

28

Receivedrequisition

fromdepartment

Prepare &Publish

Advertisement

Check thevalidity of

information in

Select themost

suitable

Sort CVs intoseveralgroups

Sort CVaccording tocriteria

Receiveapplicationfrom several

sources

Orientation

Issueappointment

letter

Prepareselecteddeployment

Takeinterview of

selected

Managepersonnel toconduct viva

Conduct apreliminaryinterviewsession

Carry pre-servicetraining

Mr. Taskeen Ahmed, (MD, IFAD Autos)

Source: http://ifadgroup.com/multiproducts/home.php?page=company

29

DEVELOPING

30

TRAINING AND DEVELOPMENT

Training means giving new or current employees the skills they

need to perform their jobs. By training; employees can prepare

themselves and develop opportunities not only contribute to

the quality and effectiveness of the organization it also

serves to motivate and retain employees.

According to IFAD, training is not an expenses but an

investment. Training is provided for the better understanding

31

about the work, their own responsibilities and to introduce

with organizational environment. (Mr. Taskeen Ahmed, IFAD

Autos)

Training Division of IFAD

From the establishment, IFAD has integrated training as an

integral part of all development programs in an effort to

inform and educate our staff and advance their knowledge,

skills and performance.

According to IFAD, training is a continuous process which is

very crucial for the employees to serve the people with their

best.

32

IFAD’s Training and Development is responsible for the

capability building and professional improvement of all its

staffs and professionals. 

33

Identification of training need by the associate departmentDiscuss with Dept. HeadReport to the HR to arrenge the reqired trainingRecommended by dept. head of HRArrengements made by the HR to conduct the trainingSelect training sourceInhouse trainingOutside training (if inhouse training is insufficient)Completion of trainingFeedback to HRRecord keeping in personal file

ORIENTATION

According to Taskin Ahmed, New employees in IFAD are given a

warm welcome.

In the orientation process, at first day the new employee

meet the other employees of the department. He/she is

given a free lunch. In the second day the supervisor

bring the new joiner to his desk and supervise him what

to do. New employees are become familiar with their

assigned job.

The orientation process usually remains 7 days. There

will be 2 hours session every day. Everyday new

employees learning and implementing capacity is observed.

IFAD operates continuous training programs. Employees in

the office are kept in training under supervisor for 10

days to 2 month.

In the factory at first new joiner practically learn how

to run machine effectively under experts. In many cases,

when IFAD buy new machine from abroad they send their

employees abroad to learn running the machine.

The probation period is usually for 6 months and can be

extended to 1 year.

TRAINING

Training Program Includes:

Orientation Training: The first training given to all new

staffs in the organization. It is usually a 1 or 2 days

34

training which includes brief idea about the IFAD, IFAD’s

mission, vision, code of conducts and future plans.

On-the Job Training: After joining the respective job,

employees must get their job description. IFAD has their

own in-house training facilities where all employees get

basic training. This training improves employee’s

capability, knowledge and understanding about the job.

This training is conducted in the IFAD’s office with

other regular staffs. This training is carry out by the

supervisor when it is necessary for the new and existing

staffs. By this training, employees are conscious about

the organization environment. Every new employee of IFAD

has at least 1 week on the job training.

However, employees in the manufacturing section with

responsibility of machineries get usually

training for a month before they are handed

over with their assigned machine.

Special Job Specific Training: This

training is given to the employee usually

when a new machine and / or system are implemented.

Sometimes IFAD sends some of the core related workers

abroad to get the training from the manufacturer of the

machine or vendor of the new system.

In case of implementing new softwares, IFAD usually have

agreement with the vendor to train associated employees.

Need-Based Training: It is given to the employees after

analyzing the gap between the skills and knowledge and

35

competency for the current role. This training is

performed by the external instructor or sends the

employees in the external training house; like- BIM,

BDjobs sometimes arrange specific training programs. Each

department gives some nomination of employees which is

approved by head office of HR division and selected

employees can take part in this training.

PERFORMANCE APPRAISAL

IFAD Group has been differentiates itself with rigorous

performance appraisal. As employee promotion, incentives,

compensation and pay & benefits largely depend on performance36

appraisal IFAD puts highest concentration in its performance

appraisal process and application.

Performance Appraisal of IFAD

The description of above table is given

below:

Continuous Monitoring: whether a new employee or existing

employee, an employee is going through a continuous monitoring

process in IFAD. For example- in case of office workers it is

checked whether he is working with dedication, what is his

attendance rate, and if a person goes outside of office during

office hour, what he is doing outside- official work or

personal work.

In case of marketing executive- there are about 600 sales

representatives around the country. It is checked whether

the sales representative is working in his territory

regularly or not.

IFAD is going to bring uniqueness in this process by

initiating employee tracing device. This device will37

1Continuous Monitoring (informal)2Formally performed in semiannually basis3Identify Can't Do or Won't Do behavior4Competency based/ commision Based5Based on performance, attitude & tendency6Structured format7 Dedication towards the organization and the assinged job8Considered as a basis for designing benefits & incentives

trace employee location which is going to work with the

help of Banglalink.

Formal Appraisal in every 6 Month: IFAD formal appraisal

takes place in every 6 months. This follows some

categories where employees are given marks. In this

appraisal an employee is judged based on his performance,

dedication, attitude, peer relation and ethics.

Identifying Can’t Do and Won’t Do behavior: in

performance appraisal, first it is checked how the

employee is performing. Next, for underperforming

employees it is checked why he is not performing. Is it a

‘can’t do’ situation that means employee can not doing

the job according to the expectation or is it won’t do

situation that means employee is unwilling to perform

better.

For can’t do employees IFAD arranges training and for

won’t do employees IFAD tries to initiate motivational

program.

Competency Based/ Commission Based Performance Appraisal:

IFAD generally follows competency based performance

appraisal. Beside this they put huge importance in

employee behavior and ethics.

Structured Format: IFAD has separate structure of

performance appraisal for marketing people and other

departments. According to the figure given below-

marketing people are appraised based on number of

customer they served, quantity sold and location. For

number of customer served weight is most 40%. For other

38

department, employees are appraised based on attendance,

team performance, cleanliness, attitude, and ethics.

For Marketing Department

100 Sum Weighted Average Format:

Category Weight Description TotalNumber/Quantityof Sell

.25

Number of Customer

.40

Location .35

For other Department

Categories Excellent

Very Good

Average Below Average

Worst

AttendanceTeam performanceCleanlinessAttitudeDedicationEthics & Justice

COACHING, CAREER & TESTING

At Ifad an employee is going through a continuous development

process. Employees are considered as the core asset and key to

success. Hence, from the day of joining he is developed in a

way so that he become a most contributive employee and become

a good human being.

39

Continuous Development: Employees are gone through a

continuous development process. It is done by their

supervisor and HR. He is entitled to required training,

facilities, and opportunities as his responsibilities are

increasing.

Motivation & Promotion: Employees motivation is largely

depends on their motivation and promotion. Ifad always

tries to identify intrinsic and extrinsic factors that

affect motivation. Promotion are depends on-

Performance Appraisal: Promotion depends on

performance appraisal result. An employee with

extraordinary performance can be promoted by 4 times

increase of his monthly salaries.

Competency and Dedication: at the time of promotion

employee is also judged by his competency,

dedication towards work and behavior. For example:

40

Continuous development by supervisor and HRMotivation and PromotionTalent Management*Based on Performance Appraisal

*competency based Promotion

*Dedication

an employee with new MBA degree can have a

promotion.

MAINTAININ

G41

COMPENSATION & BENEFITS

IFAD has impressive Compensation & Benefits Plan. They bring

some uniqueness in their pay and benefits plan for employees

and their family and for retired employees. Because of this

dedicated plans for employee welfare IFAD has become one of

the best employer in the country and generate a very satisfied

workforce. Result of this is above 95% employee retention

(exclude sales representatives in marketing department) and

about 90% employee retention in overall IFAD group.

42

ESTABLISHING STRATEGIC PAY PLANS

Competency based pay plans: Most of the cases, IFAD go

for competency based pay plans which are determined by

the employee’s performance appraisal. If an employee

shows special performance in fixed criteria of competence

or if he achieve a special competence like MBA degree

then according his pay is determined.

43

ESTABLISHING STRATEGIC PAY PLANS>Competency based pay plans>Commission based pay plans for SRs>Follows structural pay plans

Commission based pay plans for SRs: Pay plans for

marketing employees largely depend on performance

appraisal. Marketing department mainly follow commission

based pay plans.

Follows structural pay plans: There is structured format

for evaluating performance which we discussed in

performance appraisal. Based on the result of performance

appraisal every year best employee from marketing

department is selected. There is structure which is fixed

by industry average pay.

PAY FOR PERFORMANCE

Special benefits for best performers: Based on the result

of performance appraisal every year best employee from

marketing department is selected. The best employee is

given special treatment.

Foreign tour: He is entitled to a foreign tour with his

family for 10 days.

4 times increment: In addition, from other departments,

an extraordinary performer can have 4 times increment of

his monthly salary.

44

BENEFITS & SERVICES

Based on overall contribution and dedication: Ifad values

dedication very much. Most of the employee benefits are

given considering the overall contribution of an employee

during his employment life.

Retirement Benefits: Ifad developed unique HR policy for

their retire employees. When a employee retires after

working for at least 20 years in Ifad, he is entitled to

get 50% of his basic salary per month for rest of his

life.

Children Allowance: If any employee is found to be very

contributive but unable to bear his children expenses

Ifad has separate children fund for this employees

children.

Accidental Allowance: If any factory worker or office

worker face a accident during his working hour in Ifad

his medical expenses are carried by Ifad. And if the

accident results in employee death then all the rituals

done by Ifad and his family expenses are carried by Ifad.

For example: a factory worker died 10 years ago. After

45

that Ifad has been maintaining the expenses of his

children for last 10 years.

Children education allowance: Ifad also bears employees

children educational expenses. For example: one of their

directors’ children has gone for foreign education in

expense of Ifad.

EMPLOYEE RELATION

ETHICS, JUSTICE & FAIR TREATMENT

Ethics is a buzzword in IFAD Group. It has been given the

first priority since its inception. From recruitment and

selection to pay and benefits, ethical practices are

46

everywhere. They have set rules for ethical conduct towards

company, co workers, competitors and customers.

Co-Worker: maintaining a healthy peer relation is a must

in IFAD. CEO himself always monitors how one employee

behaves with others. Anything that leads to conflict is

strictly prohibited. Like no employee should engage in

unfair competition for recognition, its all about

performance. No one should criticize boss and co workers

in back of them. Everyone should possess the mentality of

a family and should give a helping hand for others in

every case.

Customer: Customer is driver of success for any company.

IFAD gives high value in customer satisfaction. Sales

person are trained not to give any wrong information

about the product to sale the product. That means don’t

deceive your customers.

47

*Treat like a family Member*Avoid unfair Competition*Never engage in backbiting * Team mentality*Fair Competition*Avoid Negative Publicity about Competitors.*Healty relation

Competitors: Ifad believes competitors are also a key

factor for success and development. So their strategy is

do not engage in unfair competition and avoid bad

publicity about competitors rather you develop your

offering. It will bring success.

LABOR RELATION

Ifad is an Employer who always set rules that brings welfare

for employees. Taskin Ahmed Strongly said that ‘there is no

labor crisis’. This group is found to a company with employee

satisfaction, employee retention and employee dedication

because of-

Employee empowerment

Contribution when employee or his family faces crisis

Fair pay and benefits plan.

Unique Retirement Plan

Ethical conduct

EMPLOYEE SAFETY & HEALTH

Ifad has over 300o employees right now and more than 600 sales

representative over the country. Ensuring the safety of this

huge workforce is a challenge to Ifad. Ifad has been been

ensuring this in following ways-

Medical Checkup facility: in corporate office and in

factory Ifad has arranged medical centre with

professional doctors so that employee can go there for

medical checkup and for first aid solution.

48

Safety during training: in factory when new worker is in

training, his safety is ensured by IFAD. New worker have

chances for accident and hence day are given separate

concern during training period.

Workplace Safety: Workplace safety is a prime issue in

Bangladesh. Ifad knows it very well & differentiates

itself by taking every step that ensures workplace

safety.

Train employees to remain Safe: In Ifad employees are

given training on how to remain safe in workplace. What

to do in case of certain accident happen or what to do

when any danger tend to happen. What should do after a

accident happens.

SUCCESS STORY OF IFAD GROUP IN TERMS OF HRM

49

IFAD PRINCIPLESCompany Principles*Quality & Production *Dedication for Job *economic development *women empowermentEmployee Principles*Home out of Home *Part of You *ethics & Justice *Attitude & behavior * Truth Co-Worker Principles

Integrated Management & HRM of IFADGROUP

50

Ethics &Safety

Ethics*Focus ethical conduct towards job, co worker, company and competitors.

Safety*Safety

ImpressivePay &

Benefits

*Structured Pay plans*Special Benefit for best performer*unique retirement benefit*Children education*Accident rituals and

RigorousPerforman

ceAppraisal

*Continuous informal*Formal every 6 month*Identifycan’t do or won’t do behavior*Competen

WarmOrientatio

n &Training

*Part of Company*Home out of home*On the Job Training*By Supervisor& HR*Focus on behavior &

Fair Recruitment & SelectionProcess

*Both Internal & external Sources*Interview by Board andDirector*Practical testing

Results of Integrated HR*Highly satisfied, motivated, skilled & ethical workforce*Healthy, family and team work environment*No labor force crisis*High contribution in

Success of Integrated HR*95% employee Retention in marketing & more than 95% in other departments.*More than 300 women in workforce.*One of the best employers in Bangladesh.

*

IFAD has been a leading group of Bangladesh with

more than 3000 workers over the country. Since

its inception it has been trying to align its goals and

achievement with its HR policy which turns its HR to be

completely integrated with its management. The integration of

HR with management actually leads it to the present success.

Let us describe how they do it. (Taskeen Ahmed, 2014)

Rigorous and fair recruitment and selection process: IFAD

HR has been recruiting the employees both from internal

and external sources. They conduct a 2 phased interview

process where 1st interview taken place with a board of

supervisor, department head and HR head whereas final

interview is taken by director himself.

In case of marketing people they usually rely on

internal sources that a reference by their existing

employee and for rest of the department they rely on

external sources.

In case of factory labor, practical knowledge of

operating machine is examined. Finally the factors

that influence employee selection are performance in

interview, skills, attitude, behavior, and ethical

viewpoint.

Warm Orientation and Training: At IFAD, Employees are

given very warm orientation at the first day including

meeting with existing employees, factory and office visit

with free lunch.

The orientation process is developed in a way that

new employee feels like it’s a home away from home.

51

From very beginning the feeling of a family is

incorporated in employees mind.

The employees are gone through continuous on the job

training by their supervisor and HR team at IFAD.

In case of new machine set up, IFAD send their

worker for foreign training form machine vendor.

Along with job task training employees are given

training on ethical conduct. Employee safety is

ensured during training.

Fair and rigorous performance appraisal: informal

performance appraisal is continuous process in IFAD.

Employees are always monitored in IFAD. Formal

performance appraisal is done for twice for year.

In this process it is justified

whether an employee is less performing

because of can’t do or won’t do

situation?

Performance appraisal is done

competency based. There is separate structure for

marketing and other departments.

In performance appraisal not only performance,

employee dedication, attitude and peer relation also

given high weight.

Unique Compensation plans and Employee Benefits: IFAD

differentiated themselves in employee pay plans and

benefits. They follow structured pay plans. There have

separate pay plans for marketing and other departments.

52

Marketing people are given commission based pay plan

while other departments are given under traditional

pay plans.

Most of the cases pay depends on performance

appraisal.

Special benefits are given to extraordinary

performer. It is seen that an employee receives

increment of even 4 times on his monthly basic

salary. Best employee is given facility of a foreign

tour with their family.

Most impressively, they have a unique retirement

plan for retired employees; that is- after 20 or

more years of service when an employee retires, he

or she gets home delivery of 50% of his basic

monthly salary for the rest of his or her life.

Most dedicated employees are also given special

benefits like children education allowance.

In case of sudden accident or employee death,

rituals costs are carried by IFAD and sometimes

their daily family expenses are also met by IFAD.

This type of facility is provided to the most

dedicated performers and requires top managements

approval.

Ethics and Safety: At IFAD, ethics is given first

priority. It is believed IFAD that the secret of IFAD’s

success are its commitment towards its codes of conducts.

From the orientation day to end of employment, an

employee is going through the practice of ethical

53

conduct and he must abide by the ethics towards job,

coworker, company and competition.

Safety is ensured in every case. In factory training

and in workplace, IFAD follows several safety

measures.

IFAD Principles: IFAD group is a centre of principles for

employees. They promote ethics and justice highly and a

nurture a feeling that it is a home out of

their home. They should work like a family

member. They should avoid negative

publicity of competitors.

IFAD gives highest priority in quality

and production and sales persons are trained not to

give fake information about their products.

In IFADs Multi Products Limited their motto is

‘shuru houk bishuddotai etai amader prottasha’.

IFAD is a center for women empowerment from the very

beginning of its inception.

IFAD has devoted itself for economic development of

Bangladesh.

THE RESULTS OF INTEGRATED HR

Highly satisfied, motivated, skilled & ethical workforce

Healthy, family and team work environment

No labor force crisis

High contribution in economic development & high

recognition by nation.

54

SUCCESS OF INTEGRATED HR

95% employee Retention in marketing & more than 95% in

other departments.

More than 300 women in workforce.

One of the best employers in Bangladesh.

President Award for Quality and Production.

Krishi Rotno for Agricultural Development.

1 of 10 most credit worthy group in Bangladesh declared

by Bangladesh Bank in 2010.

Exposure of over $300 million in Bangladesh Economy.

55

FUTURE DIRECTION FOR OTHER GROUPS

In our country most of the groups of companies follow

traditional HR practices. Ifad group is not an exception here.

We are living in the world of globalization. Customers are now

more powerful than ever, Suppliers are gaining more power and

competition is everywhere today. No company can sustain their

comparative advantage for long and no unique policy is

sustainable forever because of technological advancement

worldwide. Workplace is more diverse and complex now. Hence

there is strong need for continuous change program to cope up

with the industry. In addition, companies cannot be

competitive by meeting domestic demand. They should engage in

international trade and go for export. So companies ultimate

in need of global employees who can manage everything by self.

From our analysis we found Ifad is a continuous changing

company and they have many uniqueness that other group can

follow. So the future direction for other companies will be-

56

FUTURE DIRECTION FOR OTHER

*Happier Employee*My Company Attitude*More Productivity*Innovation &

* Flat Organization*Employee Empowerment*Employee Manages*Performance Management*Ifads Retirement Plan*Ifads structure for Performance Appraisal*Women empowerment*Ifads Pay and benefits Plan.*Ifads Principles towards employees,

*Employee Retention

*Competitiveness

*Customer

Flat Organization: In ground of huge transformation in

Bangladesh business industry, Ifad is going through a

more flat organization. The results of this are-

Employee Manages: At Ifad, now employee manages

everything. They are their supervisor, they plan,

they take action, they rule. That means employee

knows what to do, how to do, and what will be impact

in future.

Employee Empowerment: Because employee manages

employees are powerful than ever. They are happy,

satisfied, possess my company attitude, become more

productive and innovative in decision making and in

goal achievement.

So other groups of companies should follow this strategy to

sustain in the market, and to be competitive with global MNCs

operating in Bangladesh.

Employee Retirement Plan: This is unique strategy

developed by Ifad HR where an employee, after retirement

will get 50% of his basic salary for rest of the life.

57

*Employee Retention

*Competitiveness

*Customer

This strategy has a long impact. To be eligible to this

plan, every employee tries to serve Ifad at least for 20

years. Hence employee turnover rate is close to zero and

employee retention and productivity is higher than

others. As most of the Bangladeshi groups are surviving

to retain their employees, they should follow Ifads

retirement plan.

Performance appraisal of Ifad: Ifad has its own structure

for performance appraisal which is so far effective. They

follow unique structure to appraise their marketing and

other employees. Groups of companies can follow these

structures.

Women Empowerment: when half of the population of a

country is women, you can ensure nations development

without women participation. Ifad CEO realized this thing

during its inception. As a result Ifad always prefer

women empowerment. Currently more than 300 women are in

Ifads workforce. So we suggest other groups to go for

women empowerment.

Ifads Pay & Benefits Plan: we already talk details about

Ifads pay and benefits plan which is its core strength.

They have very impressive plan for marketing and other

departments. Their retirement and benefits for most

contributing employee is more than any other companies.

We strongly believe if any company can follow ifads pay

and benefits plan it will surely be succeed.

Ifads Principles towards employees, company, coworker

and competitors: What very interesting thing about Ifad

is, they have set rules for their employees which are58

strongly followed and monitored. Ifad set principles in a

way that will ensure good and friendly work environment,

more fair competition and more ethical human being. So

other groups can set their principles and can maintain it

according to Ifad.

Results: If other group of industries in Bangladesh can

follow these directions they will be blessed with

following advantage-

Employee Retention: Employees are the core asset for

any company. No matter how much resources and

technology you have, if employees are unhappy you

will be vanished. Following Ifads strategy will

ensure employee retention to be increased.

Competitiveness: if any group follows the direction

of Ifad they will be competitive in every sector of

their operation. Following Ifads principles is must

for being a truly national company.

Customer Satisfaction: as we see in HR Paradigm,

whatever one firm do with its human resources, its

ultimate goal is customer satisfaction in which the

profitability and existence of a business depends.

As Ifad become successful in customer satisfaction

with their strategy we suggest other groups to

follow Ifads Strategies.

59

DISCUSSION QUESTIONS

1. Describe the business background, business history,

current industry position and group of industries

operating in Bangladesh.

2. Give a detail overview of IFAD group of industries, their

businesses, and their mission and vision and success

story.

3. Give a short overview of IFAD HR policy and show how

their HR policy is related with their management?

4. Analyze the effectiveness of IFAD HR in achieving

organizational goals and success.

5. How does IFAD conduct job analysis for recruiting new

employees? Explain.

6. Explain the steps and different sources IFAD uses for

Recruitment and selection process.

7. Explain the IFADs employee testing methods. Do you think

IFAD HR is effective in validating test results?60

8. What different methods IFAD uses for employee interview

and how they design and conduct interview?

9. Describe employee orientation process of IFAD.

10. Describe how IFAD identify the employee training

needs and how they design and conduct training program?

11. What different types of on the job and off the job

training program IFAD uses? Explain.

12. What performance appraisal tools IFAD uses and how

does IFAD conduct appraisal interview?

13. Describe the pay plans of IFAD. Is it traditional or

competency based?

14. List the financial and non-financial benefits and

services IFAD provides to employees.

15. How does IFAD deal with ethics, justice, fair

treatment practices, labor relation and safety issues?

61

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63

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64

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67

APPENDIX

QuestionnaireOverall HR Practice of IFAD Group

Introduction

1. Explain how HRM is related with Ifads management process?

2. What are the activities are usually performed by HR

personals in Ifad?

3. Do you think HR practices in Ifad are fine tuned with the

organizational goals and strategies?

Job Analysis

1. What are the steps Ifad follows in doing a job analysis?

Explain.

2. What methods Ifad follows for collecting job analysis

information? Explain.

3. Explain the process of writing job description and job

specification of Ifad.

68

4. How do you conduct job analysis for recruiting new

employees? Explain.

Planning and Recruiting

1. What steps Ifad follows in recruitment and selection

process? Explain.

2. What are the different sources Ifad used for recruiting

and selection? Explain.

Testing and Selection

1. What testing methods Ifad follows for employee selection?

Explain.

2. How does the Ifad validate its tests result? Explain

Interviewing Candidates

1. What types of employee interview method Ifad follows?

Explain.

2. How does Ifad design and conduct interview? Explain.

Training and Development

1. Describe employee orientation process in Ifad.

2. Describe training process of Ifad.

3. How Ifad training motivate employees to perform better?

4. How does the Ifad access the training needs of the

employees?

5. What different types of on the job and off the job

training program Ifad uses? Explain.

6. How does Ifad formulate organizational change program?

7. How does Ifad evaluate training effort?

69

Performance Appraisal

1. How does Ifad design performance standard of employees?

Explain

2. Describe the performance appraisal of Ifad.

3. What performance appraisal tools Ifad uses?

4. How does the Ifad deal with performance appraisal

problems?

5. How does Ifad conduct appraisal interview?

6. What is the usual time gap between each performance

appraisal?

7. Does Ifad follow any performance management? How?

Coaching, Career and Talent management

1. Describe the career management process of Ifad.

2. How does Ifad make a promotion decision?

3. What is the employee retention rate?

4. How does Ifad manage transfers and retirements?

5. Is there any talent management system? If any, how it

works?

Establishing Strategic Pay Plans

1. Describe the pay plans of Ifad. Is it traditional or

competency based?

2. What points are given preference while deciding employee

pay plans?

3. How job evaluation is conducted?

Pay for Performance and Financial Incentives

1. How does Ifad design incentive plans for employess?70

2. How much motivated employees are with existing incentive

plan?

3. What HR policies are used while deciding employee

promotions?

Benefits and Services

1. List the financial and non-financial benefits and

services Ifad provides to employees.

2. What retirement benefit plan Ifad follows?

Ethics, Justice and Fair treatment

1. How does Ifad deal with ethics, justice and fair

treatment practices?

Labor Relations

2. How the manger and labor relation is maintained in Ifad?

3. How Ifad manages labor force crisis?

Employee Safety

1. How does Ifad deal with employee safety issues?

Special Issues

1. What are the main determinants of Ifad success?

2. Does Ifad follow any unique HR strategy developed by

them?

3. Is there any business achievement that helps Ifad to

differentiate itself from others?

4. What is financial performance over last few years?

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5. What are the major strengths and weaknesses in Ifad HR

policies?

6. In your opinion what can be done to improve the HR

policies of Ifad Group?

***Thank you for kind cooperation***

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