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MGT-351

Date of Submission13th December, 2010

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2

PREPARED BY:

COURSE TITEL:

PREPARED FOR:

1

Mostakim kabir

0910735530

2 Md Aslam hossain 082163030

3

Shah Mohammad Yeameen Ismile

092-0752-030

Human Resource Management (MGT-351)

Section-07

MD MUJIBUL HOQUEFaculty Member

School Of Business

NORTH SOUTH UNIVERSITY

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Letter of Transmittal13 December, 2010

MD.Mujibul Hoque

Faculty Member,

School of Business,

North South University,

Bashundhara, Dhaka.

Subject: TRANSMITTAL MESSAGE

Dear Mr, Md. Mujibul Hoque

Here is the FINAL REPORT of MGT-351 that there asked us to conduct on 13 December,2010.

For this report we are working on Partex Group. With this report we mentioned thecompany profile and employees benefit. We have provided some information whichcan help their use as reference.

We appreciate there for asking us to conduct this report. If there should need anyadditional information please contact us atshah0752@bba.northsouth.eduor

+88-0155-2201390.

Sincerely theres,

_____________________

Mostakim kabir

______________________

Md Aslam hossain

______________________

Shah Mohammad Yeameen

mailto:shah0752@bba.northsouth.edumailto:shah0752@bba.northsouth.edumailto:shah0752@bba.northsouth.edumailto:shah0752@bba.northsouth.edu

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(All praises belongs to almighty ALLAH, the most beneficent, most merciful)

First of all, I would like to thank our Almighty Al lah who has created &

has given us ability to think.

Then I would like to thank our honorable & respected Course instructorof Management Information System Mr. Md. Mujibul Hoque (MjB) from

North South University. Because of his patience, guidelines &

immeasurab le Sacri fi ces to me. His constant supervision and constructive

Suggestions, without his help this assignment could not have been a Comprehensive

one. Me really proud of our course instructor because he has given a

Work opportunity to me from very close to and that has given me a lot

of practical experience in my life and also will be helpful in our job life.

Thanking There,

Mostakim kabir

Md Aslam hossain

Shah Mohammad Yeameen Ismile

Acknowledgement

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TABLE OF CONTENT

No Name Page

01 Company Profile 6

02 Partex mission 603 Employee benefit 6

04 Objectives of Employee Benefit 7

05 Organizational objectives 7

06 Employee objectives 7

07 Types of Employee Benefit 8

08 Partex Employees Benefit 14

09 Transport Facilities 15

10 Holidays 15

11 Life Insurance 16

12 Doctor Facilities 16

13 Quarter 16

14 School Facilities 17

15 Child School Education 17

16 Transport on Request 18

17 Boat 18

18 Retirement Benefit 19

19 Transport Cost 19

20 Bus Facilities 19

21 Recreation 20

22 Motivating Employees by various ways 20

23 Bonus 21

24 House hold Utility 21

25 Whole area Maintain 22

26 Sports 22

27 Officers Club 23

28 Utility Free 23

29 Fruit Tree and Fish 23

30 Graveyard 2431 Very neat and clean factory environment 24

32 Product 15% off 24

33 Guest house on Request 25

34 Welfare for Employees 25

35 Car Loan 26

36 Miscellaneous 26

37 Reasons of Providing so many Benefits 26

38 Employee benefits provided in past 26

39 E Employee benefits will be provided 27

40 Comments and suggestion 27

40 Conclusion 28

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6

Group is among the large Bangladesh private

sector manufacturing and multi service based

enterprises, owning and operating over twenty units giving value for money to

all customers. Its main factory is Star Particle Board Mills and it is called

PARTEX Company in short. It produces mainly plywood board from jute stick. It

also produces veneered board, furniture. In last year, they had two hundred

crore taka profits from this factory.

The Sky is not the limit for us, but our expectation is within limits. Therefore,

our imagination soars beyond conventional barriers. We share or destiny with

our beloved motherland. We want to serve her in the greater quest for

national uplift.

Todays workers expect more than just an hourly wage or a salary from the

employer. They want additional considerations that will enrich their lives.

These considerations in an employment setting are called employee benefits.

Employee benefits have grown in importance and verity over the past several

decades.

The irony, however, is that while benefits must be offered to attract and retain

good workers, benefits as a whole do not directly affect a workers

performance. Benefits are generally membership based, offered to employees

regardless of their performance levels.

Company Profile

Partex Mission

Employee Benefit

Partex

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There have some objectives of employee benefits. Organizational and

employee objectives are sought through the use of indirect compensation.

Organizational objectivesTime-off benefits such as vacations, holidays, and rest breaks help employees

reduce fatigue, enhancing productivity during the hours when the employees

do work. Similarly, retirement, health care, and disability benefits may allowworkers to be more productive by freeing then of concern about medical and

retirement costs. If there benefits were not available, employees might elect to

form a union and collectively bargain with the employer. (Although collective

action is legal, employers such as Intel prefer to remain nonunion).

Employee ObjectivesThe real advantages to employees of employer provided benefits are lower

costs and availability. For example, insurance benefits are usually less

expensive because the employer may pay some or all of the costs, as Intel

does. Group plans save the cost of administering and selling many individual

policies. The insurer also can reduce the risk of adverse selection, which occurs

when individuals sign up for insurance rates- can pass on these savings in the

form of smaller premiums even if workers say the entire premium.

Objectives of Employee Benefit

Reduce Fatigue

Discourage Labor Unrest

Safty Employee Objectives

Aid Recruitment

Redice Turnover

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The objectives of organizations and employees have encouraged the rapid

growth of benefits and services. This growth has affected all areas of fringe

benefits and services. This growth has affected all areas of fringe benefits and

services, including insurance, security, time-off, and work scheduling benefits.

Most companies today offer a wide variety of benefits, especially larger

companies. Some of the benefits are compulsory. For the composition of

benefit plans there are many major categories of benefit plans may be offered.

They are as follows:

Required/ Mandatory securityGovernment requires that employers provide a certain limit of protection or a

security floor for each employee. There are three primary area of compulsory

security:

Types of Employee Benefit

Required ormandatory

security

Voluntarysecurity

Retirementrelatedsecurity

Time offsecurity

HealthInsurance

Financialservice

Social &recreational

service

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Voluntary securityTwo of the major security benefit programs used by employers are voluntary

severance pay and supplemental unemployment benefits. Severance pay is pay

given to the employee at termination. Its purpose is to provide funds to thee

the employee over until he or she finds another job

Golden parachutes, a form of severance pay, are paid to execute as a form of

compensation if they are terminated during a hostile takeover. Executives who

fears hostile takeover often are able to obtain a golden parachute clause in

their contact.

RetirementOver 90 percent of full time workers at companies with more than 100

employees are covered by retirement plans, according to the employee

benefits Research Institute. Pension plan are considered rewards for long

service and are not incentives to work more efficiently of effectively unless thepremium is thee to a stock option plan, as scars is. Pension plans are used

primarily to retain a loyal workforce.

Time-off related benefits:

Workerscompensation

A

Unemploymentcompensation

BSocial securitybenefit

C

Vacations Leave of absence

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Holiday payMost employers provide pay for all established holidays such as New Years

Day, Memorial Day, Christmas and other scheduled holyday.

VacationMost employers offer paid vacations that range from one to six weeks per

year. In off poll, employees rated paid vacations and holidays as the third most

important benefit behind medical insurance and pension.

Leave of AbsenceLeaves are given for

Longer leaves called sabbaticals are also given for renewal or special service

Health and Insurance Related BenefitEmployers offer are various types of coverage including.

It is big challenge for organization to maintain the adequate coverage by

limited fund.

Health BenefitCost containment method

Militaryservice

Juryduty

Election

Disability

Sickness

Maternity

Medical Disability LifeInsurance AutoInsurance

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Non Medical Insurance BenefitBesides health related insurance employees also provide can other forms of

insurance. According to a recent survey by the international certified society of

employee benefit specialists, life insurance is offered by more employers than

any other product.

Financial, social, and Recreational Benefits

Non Financial BenefitsThe use of a company car, company expense account, club membership, helpin buying and selling a home and the use of company owned report

condominiums are example of perks available to manager, executives, and

some employees.

Employee co- payment

Employee payment of deductible

Self funded insurance

Wellness program

Providing more information

Restriction on psychiatric & substance abuseprogram

StockBenefits

ESOP

Educationalbenefits

Child carebenefits

Elder care

Cafeteriaplan

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Stock BenefitEmployee thrift, saving, or stock purchase investment plan are also popular.

For example in a stock option plan am employee is often guaranteed the rightto buy share of company stock at a discount or certain price.

ESOP( Employee Stock Ownership Plan)When stock is provided as a pan of profit sharing plan am employee stock

ownership plan is developed.

Educational BenefitMany firms offer a tuition reimbursement plan for employees who attend a

school, college or university. Usually the firm requires that the employee take a

course related to work.

Child Care BenefitWorking women with small children have become very common in our society.

Although only six percent of surveyed employees offered sponsored child care

in 1987, one study shows that 66 percent of surveyed benefit directors saw

child care as a major growth area.

Elder CareA study of benefit directors in 1988 indicate that 77 percent of them believed

that elder carecare of the elderly-will is a major growth benefit in the 1900s.

Cafeteria PlanBecause of the verity of option in the benefit area many employers have

shifted to or are considering cafeteria plan. As noted earlier cafeteria plan

allows employees to pick and choose from a variety of benefit options much as

a person choose food at a cafeteria.

Finally, we must realize that employees may be paying more for or getting less

of the benefits that employers offer. Economic hardships are a reality, and cost

cutting measures are mandated. Employees must be willing to accept less if

they are to progress in the future.

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Partex Employees Benefit

Transport Facilities

Holiday

Life Insurance

Doctor Facilities

Quarter

School Facilities

Transport on request

Retirement Benefit

Transport cost

Bus facility

Recreation

Bonus

Profit Bonus

House Holds Utility

Area Maintenes

Officers Club

Utility Free

Fruit Tree

Product 15% off for officers

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For the Partex workers and officers transport facilities is always available. But

there is some difference between transport facilities for the officer and DGM

onward officers. For the officers there are a certain time table of transport

facilities and the officers like CEO DGM transport facilities is always available

and the officers are used the transport for any used. Here is a picture of Partex

transport.

In Partex employee there are some certain period of holiday the holiday is 33

days in a year and this 33 days is payable . It means every employee got 33

days leave in payment. There was a reward for all the employee if any

employee does not take 33 days leave the company will pay some bonus and

the terms will applicable with their position.

Transport Facilities

Holidays

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Life insurance is available for all the Partex employees. Life insurance is for

employees who die in the job time. There is a group life insurance for

employees. Though the amount varies worker to officer.

In the Partex group there are four doctor and 16 compounder for all the

employee and the doctor will remain all the in the Partex compound and they

provide 24 hours medical treatment. The four doctors will highly qualify in

their occupation and service. Their service is up to the mark.

In Partex group there was a big quarter for the employees. The quarter are

divided in three division A type , B Type , C type and those quarter are very

friendly for living. Those quarters are divided 40 % for the officer and 60% for

the employees. In Partex quarter 50-60 officer are living in full family and 200

workers are living some workers are bachelor and some workers are married

and they are living to their family.

Life Insurance

Doctor Facilities

Quarter

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In Partex area there was a school. The school is only for the Partex officer and

the workers. All Partex employee children are able to use the school. Those

schools are up to class six and there is also another school for the other. And

its open for all the Partex employee child are going to that school.

Partex group are willing very good service to the school child education. IF any

employee child wants to study another school, its very affordable for the

family. For this, Partex have a microbus to reach the other school.

All Partex employee got transport on request. Its for all the workers and the

officers but its only for the occasion like as marriage or special need. For that

School Facilities

Child Education

Transport on Request

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transport company will 75% money and the rest of 25% paid by the employee.

In the 75% there are included the fuel and the other cost but the driver will

manage the employed.

Partex is standing beside bank of Shitolokhkha a river. So Partex have two own

boat and a speed boat if any one wish to use he/she can use. Its free for all the

employees officers and the workers except the speed boat.

For the retirement of any employee here is a big opportunity. After retirement

he can continue his work but then not for the employee on that time he is thetrainer. But this opportunity depends on the employee he can do this or he can

Boat

Retirement Benefit

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leave it.

In Partex group if any work held outside of Dhaka the company will pay the full

transport cost for this there was 4emergency micro. The employee can used

the micro for the work and all the cost will pay the company.

There was a bus facility for all the officers who lived in Dhaka but these

facilities only for the officers. The bus will 35 set with full air condition and the

bus will take officers some of the certain area and this is full free for all the

offices.

Transport Cost

Bus Facilities

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In Partex there is some good recreation for the entire employee. Partex try to

all time happy for the employees. In a calendar year there was a picnic and the

picnic is for all for the picnic all employees are going outside of Dhaka with

their full family member and the full cost will pay Partex group.

For the employees child they try to motivate if any child got A+ in SSC or HSC,

Partex group will give a crest and certain amount of money. There are also Eid

re union for all the employees and the both Eid they will mark up with that. In

Partex there was a sports program in 16 December and 26 march and this

sports for all the employees and for employees child.

Recreation

Motivating Employes by various ways

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In Partex group there was a bonus for all the employees and the bonus is given

in the two Eid. But how much get its depends on the position. For all the

employees 100% of the basic is given. Sometimes the bonus will higher in the

salary but its depends on the company current position

In Partex there was a profit bonus. Profit bonus means the company will target

a certain amount of money if the money is expected about their expectation

the company will pay the bonus but the bonus percentage will depends on the

rank. The officer and the workers bonus will never same.

For the Partex employees the workers got some house hold utensils. And the

officers got all home utensils but all the things are the basic one and its all free

for the employee condition that if any employees have nothing on that case

company will give to the employees.

In the Partex compound the area was highly maintains. For the maintainence

there are administration department. If any problem occurred the problem

will solved by administration.

Bonus

Profit Bonus

House hold Utility

Whole area Maintainence

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In Partex there was a huge place for play. They have own field for football and

cricket have own Tanis court. Its open for all the officers .offices and workers

are played on that.

In Partex there was an officers club and there are some good facilities on the

officers club are not big but there is some this to pass the leaser time. On the

officers club there was TV. And the officers club there also a table Tanis curt.

The officers club are used both officers and the workers.

Sports

Officers Club

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For the Partex employee utility free is free for all. It means water gas and

eclectic bill. And its for all the workers and the officers who lived in the

quarters. Its one of the important benefits for the Partex employee.

In the Partex compound there was a round of fruit tree. The fruit tree is

covered the whole area. And those fruit is for all. Offices and the workers and

the fruit are never sold in the market its only for the Partex employee. There

are two ponds and from these ponds various types of fish is cultivated. These is

for 50% for M.D. rest is for the employees.

Utility Free

Fruit Tree and Fish

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There is a graveyard for the Partex employee. If any Partex employee dies they

can use the Partex graveyard and the graveyard protected in some ways.

In the Partex employee they got a big change to buy Partex product in the

reduce price. 15% off for all products but its only for the offices. And this offer

is for all offices .When they buy the Partex product only they show their ID and

they got 15% discount for the entire product.

Partex is very neat and clean in the inside of the factory. The workers dress upis mandatory so that they do not get dirty with handling stuffs.

In Partex there is a guest house for the offices. The officers will use the guest

house on request. But there is some point of request. The Partex give the

permission if any employees have a marriage or any other program otherwisesome Partex function like Eid union are held in the guest house.

Graveyard

Product 15% off

Very neat and clean factory environment

Guest house on Request

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There is certain amount of money is kept for further welfare need of the

employees like emergency of money for treatment of employees on an

accident. Partex also provide a certain amount of money for this purpose.

For car, Partex is giving loan to its employees at a 5% interest rate. But its only

given all the officers who are in minimum higher rank in Partex.

Welfare for Employees

Car Loan

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Partex is giving some other benefits to its employees such as, Partex gives

twenty cows for its employees in EID UL-AJHA, in Miladun-nabi Partex

organize a lunch party for all employees, Partex gives Jakat in every year etc.

The reasons of providing so many benefits are as follows-

The Partex factory is situated in kuripara, Madanpur, Bandar, Narayan

gonj. It is almost twenty kilometer far from Dhaka.

People have to sacrifice the benefits which h /she might get by living in

Dhaka.

Partex is the market leader in particle board and its furniture market so

it will do the best to retain its human resource.

Partex used to provide some employee benefits before, for some problem they

stopped providing them such example is given below-

--Partex used to provide personnel loan at no interest rate. But after

providing for thirty years they understood that it is becoming more risky

because Partex is giving loan through borrowing from a bank and the interest

rate is paid by Partex. Problem is, more and more people is started to apply for

the loan which is very risky for Partex because now the amount of money

became very big. So Partex stopped providing personnel loan. But in some case

Partex provide personnel loan to officer on special request.

-Fifteen years back from now, Partex used to provide some basic

furniture for the officer on request such as chair, table, dining table, showcase

etc. now they have stopped providing this benefit because the number of

Miscellaneous

Reasons of Provising so many Benefits

Employee benefits Partex used to provide

in past and reasons they stopped providing

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officer has increased noticeably. Its very costly to provide this benefit

anymore.

These benefit motivated employees very much but now this benefit becamecostly so Partex stopped providing that.

Partex management is thinking about some benefits for their employees andthis benefit will be in effective very soon. Some of this are-

-All the workers are supposed to work at every working day which is

twenty six days in a month. But usually certain number of workers are absent

for couple of days. Its very hard to handle his/her job by others. So Partex is

very soon introducing that if worker who is present in the working hour for at

least twenty four days he will get a benefit of 24days*20tk. = 480 tk. per

month. So that worker keeps them self present most of the time.

-Partex will soon stop providing encashment, because it is becoming

costly for Partex.

These benefits will motivate employees very much in future.

According to our point of view Partex is providing very good benefits to its

employee. All the benefit mentioned above is really convenient to retain its

human resource and motivating.

Our suggestions towards Partex HRM are as follows-

Employee benefits, company will use orstop in future and reasons for it

Comments and Suggestion

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They should pay overtime to the officer who works beyond the working

hour.

Give loan to the worker as well in their emergency need.

In some times dust protector do not work properly. It is bad for worker

who works in dust. So Partex management should think an alternative

solution.

In worker quarter there is no playing field. So management should think

about it so that worker and their child don not get bored which will

demotivated them.

Is a very successful company. The employees of Partex

are very efficient, thats why Partexs are far more

successful than its competitor are. It is providing very

good benefits, because it cares about its employees. The employees also care

about the company and most of them are happy to work in Partex.

Conclusion

Partex

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1. A S M TARIQUL ISLAM

-DY. GENERAL MANAGER

-HR AND ADMIN

2. AKLAS K. CHOWDHURY

-DEPUTY MANAGER

-INDUSTRY RELATIONS

References

THE END