MGT-351

Date of Submission 13th December, 2010

PREPARED BY:

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2 3

Mostakim kabir 0910735530 Md Aslam hossain 082163030 Shah Mohammad Yeameen Ismile 092-0752-030

COURSE TITEL:

Human Resource Management (MGT-351) Section-07

PREPARED FOR:
MD MUJIBUL HOQUE
Faculty Member School Of Business

NORTH SOUTH UNIVERSITY

Letter of Transmittal
13 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 the company profile and employees benefit. We have provided some information which can help their use as reference. We appreciate there for asking us to conduct this report. If there should need any additional information please contact us at shah0752@bba.northsouth.edu or +88-0155-2201390.

Sincerely theres,

_____________________ Mostakim kabir

______________________ Md Aslam hossain

______________________ Shah Mohammad Yeameen

Acknowledgement
(All praises belongs to almighty ALLAH, the most beneficent, most merciful)
First of all, I would like to thank our Almighty Allah who has created & has given us ability to think.

Then I would like to thank our honorable & respected Course instructor of Management Information System Mr. Md. Mujibul Hoque (MjB) from North South University. Because of his patience, guidelines and &

immeasurable Sacrifices to me. His constant supervision

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 W ork 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

TABLE OF CONTENT
No 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 40 Name Company Profile Partex mission Employee benefit Objectives of Employee Benefit Organizational objectives Employee objectives Types of Employee Benefit Partex Employees Benefit Transport Facilities Holidays Life Insurance Doctor Facilities Quarter School Facilities Child School Education Transport on Request Boat Retirement Benefit Transport Cost Bus Facilities Recreation Motivating Employees by various ways Bonus House hold Utility Whole area Maintain Sports Officers Club Utility Free Fruit Tree and Fish Graveyard Very neat and clean factory environment Product 15% off Guest house on Request Welfare for Employees Car Loan Miscellaneous Reasons of Providing so many Benefits Employee benefits provided in past E Employee benefits will be provided Comments and suggestion Conclusion Page 6 6 6 7 7 7 8 14 15 15 16 16 16 17 17 18 18 19 19 19 20 20 21 21 22 22 23 23 23 24 24 24 25 25 26 26 26 26 27 27 28

Company Profile

Partex

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.

Partex Mission
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.

Employee Benefit
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.

Objectives of Employee Benefit

There have some objectives of employee benefits. Organizational and employee objectives are sought through the use of indirect compensation.

Organizational objectives
Time-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 allow workers 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).

Reduce Fatigue Discourage Labor Unrest Safty Employee Objectives Aid Recruitment Redice Turnover Employee Objectives
The 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.

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.

Types of Employee Benefit

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 or mandatory security

Voluntary security

Retirement related security

Time off security

Health Insurance

Financial service

Social & recreational service

Required/ Mandatory security

Government requires that employers provide a certain limit of protection or a security floor for each employee. There are three primary area of compulsory security:

B
Workers compensation Unemployment compensation Social security benefit

Voluntary security
Two 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.

Retirement
Over 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 the premium is thee to a stock option plan, as scars is. Pension plans are used primarily to retain a loyal workforce.

Time-off related benefits:

Vacations

Leave of absence

Holiday pay
Most employers provide pay for all established holidays such as New Years Day, Memorial Day, Christmas and other scheduled holyday.

Vacation
Most 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 Absence
Leaves are given for
Military service Disability Sickness

Election

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

Health and Insurance Related Benefit

Employers offer are various types of coverage including.

Medical

Disability

Life Insurance

Auto Insurance

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

Health Benefit
Cost containment method

Maternity

Jury duty

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Employee co- payment Employee payment of deductible Self funded insurance Wellness program Providing more information Restriction on psychiatric & substance abuse program

Non Medical Insurance Benefit

Besides 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

Stock Benefits
Cafeteria plan

ESOP

Elder care

Educational benefits Child care benefits

Non Financial Benefits

The use of a company car, company expense account, club membership, help in buying and selling a home and the use of company owned report condominiums are example of perks available to manager, executives, and some employees.

Stock Benefit
Employee thrift, saving, or stock purchase investment plan are also popular. For example in a stock option plan am employee is often guaranteed the right to 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 Benefit
Many 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 Benefit

Working 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 Care
A study of benefit directors in 1988 indicate that 77 percent of them believed that elder care care of the elderly-will is a major growth benefit in the 1900s.

Cafeteria Plan
Because 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

Transport Facilities
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.

Holidays
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.

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Life Insurance
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.

Doctor Facilities
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.

Quarter
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.

School Facilities
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.

Child Education
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.

Transport on Request
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

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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.

Boat
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.

Retirement Benefit
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 the trainer. But this opportunity depends on the employee he can do this or he can

leave it.

Transport Cost
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.

Bus Facilities
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.

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Recreation
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.

Motivating Employes by various ways

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.

Bonus
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

Profit Bonus
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.

House hold Utility

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.

Whole area Maintainence

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.

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Sports
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.

Officers Club
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.

Utility Free
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.

Fruit Tree and Fish

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.

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Graveyard
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.

Product 15% off

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.

Very neat and clean factory environment

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

Guest house on Request

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 otherwise some Partex function like Eid union are held in the guest house.

Welfare for Employees

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.

Car Loan
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.

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Miscellaneous
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.

Reasons of Provising so many Benefits

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.

Employee benefits Partex used to provide in past and reasons they stopped providing
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

officer has increased noticeably. Its very costly to provide this benefit anymore. These benefit motivated employees very much but now this benefit became costly so Partex stopped providing that.

Employee benefits, company will use or stop in future and reasons for it
Partex management is thinking about some benefits for their employees and this 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.

Comments and Suggestion

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-

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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.

Conclusion
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.

Partex

References
1. A S M TARIQUL ISLAM -DY. GENERAL MANAGER -HR AND ADMIN

2. AKLAS K. CHOWDHURY -DEPUTY MANAGER -INDUSTRY RELATIONS

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