I am pleased to submit my internship report on “An Evaluation of Human Resource Management Practices of Pioneer Insurance Company Limited” which was assigned to me as part of my MBA program. I declare that the “Internship Report” entitled “An Evaluation of Human Resource Management Practices of Pioneer Insurance Company Limited” embodies the results of my own research work read under the supervision of Gouranga Chandra Debnath, Associate Professor and Head of the Department of Innovation & Entrepreneurship, Faculty of Business Administration &. It is hereby declared that the internship report on “An Evaluation of Human Resource Management Practices of Pioneer Insurance Company Limited” has been submitted for the award of the degree of Master of Business Administration (MBA) major in Human Resource Management from Daffodil International University conducted by Tilat Ahsan with ID under my supervision.
Habibur Rahman Chowdhury (HR Manager). I am extraordinarily remarkable full to the authorities of Pioneer Insurance Company for giving me regulations for the completion of this report. After the claim of MBA instructional courses, I was placed in HR by Pioneer Insurance Company Limited for a fourth of one year short placement program to gain essential information. This is a creation that is a straight shot for the entire training zone over the long trajectory assessment of a specific zone of human resources scanned by HR of Pioneer Insurance Company Limited.
I was assigned to prepare a report on the evaluation of Pioneer Insurnce Company Limited's HR management practices. This report generally focuses on the HRM game plan and HR practices of Pioneer Insurance Company Limited.
Part - I
Part - III Appended Part
- INTROUDUCTION
- Background of the Study
- Origin of the Study
- Objectives of the Study
Human resources (HR) in the insurance industry of Bangladesh is an amalgamation of points and thoughts derived from a long history of work and subsequent organizational speculation. With the changing needs of the insurance business and the creation of uncertainty in today's viable insurance, the direction must constantly change so that it is appropriate for the prerequisites of the exceptional society. I set out to understand the activity of Human Resource (HRM) officers, how it was carried out and the scope of tasks reviewed by HR professionals.
This preparation and course of action combines occupation assessment, planning, agent needs, enrolling and deciding on occupation candidates, arranging and scheduling new professionals, managing salaries and wages, giving catalysts and favorable circumstances, evaluating submissions, correspondence (meetings, management and supervision) and preparation and creation and creation of delegated obligations etc. The exam will focus on the HR activities of Meghna Life Insurance Company. The activities of the insurance plan division will be discussed here near a long review. Students who have completed the MBA program were instructed by the transitional employment coordinator to start working in an employment relationship to fulfill the conditions for the implementation of the MBA program.
Finally, a report should be submitted with authentic assessment and possible courses of action for the association with Gouranga Chandra Debnath. The overall purpose of this report is to fulfill the essentials of the MBA program and to stay with a relationship for a long period of time to get a real-world experience and make an effort on a matter that was distributed by the affiliation.
Specific Objectives
- Methodology & Sources of the Data
- Limitations of the study
- Profile of Pioneer Insurance Company Limited
- Objectives of Pioneer Insurance Company Limited
- Mission of Pioneer Insurance Company Limited
- Vision of Pioneer Insurance Company Limited
Functional work exposures structure the separate work regions of the Head Office parts. He has considered himself as one of the most anticipated and magnificent names of the part. Going with progress and movement has affirmed Pioneer Insurance Company Limited as one of the.
Tapan Chowdhury is also the Managing Director of Square Group and was an Advisor to the Care Taker Government of the People's Republic of Bangladesh in 2007. M Anis Ud Dowla is the Chairman of ACI Group, truly extraordinary and highly regarded business visionaries of the nation. The organizer's chairman, Syed Manzur Elahi, is the chairman of Apex Group and was twice an advisor to the Care Taker government of the People's Republic of Bangladesh in 1996 and again in 2001.
Key Objectives Pioneer Insurance Company Limited is one of the leading defense organizations of Bangladesh. To guarantee the excitement of finance specialists by passing the best profits against the adventure.
2. 5 Quality Policy
- Ethics and Business Practices
- Corporate Structure of Pioneer Insurance Company Limited
- CORE VALUES
- Products of PICL
- Division of PICL
- Member of International Organization
- Human Resource Management
- Human Resource Policy
- Purpose
- Key Elements for HR Policies
- Components of Human Resource Policy
- Responsibility of HR Management
- Recruitment
- Recruitment Process of PICL
The Board of Directors is subject to and makes every effort to ensure compliance with the above practices. As one of the nation's top suppliers of no-accident endorsements to the level of exceptional pay, we've offered shoppers a wide variety of things and encouraged plans that think about their needs. EAIC was founded in 1962 with the aim of helping and working together in the field of insurance of all kinds.
Human Resources in Management (HRM or HR) is the compelling method to manage the reasonable organization of people in an association or relationship in such a way that they help their business reach a higher level. The intention is to expand the execution of agents in organizing a company's key objectives. Human Resources The board basically emphasizes the organization of people within affiliations, with an emphasis on game plans and systems. Agent Relations is about the stress of workers when approaches are broken, for example when there is bullying or isolation.
HR is an aftereffect of the improvement of human relations in the mid-twentieth century, when examiners began documenting techniques to get business to consider through the key organization of the workforce. New acquisitions include a huge cost, as well as build the risk that another agent will not have the choice to enough replace the former worker's relationship. Human resources courses of action continue with rules about the philosophy that an affiliate intends to engage in when managing their family.
They express unambiguous guidelines to HR managers on various matters concerning business and express the motivation behind the relationship on different pieces of Human Resource the board, for example, selection,. Each affiliation has developed a different circumstance in this way approaching an individual action of human resource. Failure to abide by these laws will leave you vulnerable to claims – the specific reverse that any business person needs.
To achieve the goal of human approach as mentioned earlier, the company has recognized the action zones of human resources. The HR department of Pioneer Insurance Company Limited will be responsible for the insurance's lead body for HR. In the Board of Human Resources, "enlistment" is the path towards finding and getting the best and most qualified plausibility for a job opportunity in a favorable and down-to-earth manner.
It is one whole method, with a complete life cycle, beginning with striking evidence of the. It ensures that candidates are given the boundaries and appearance necessary to achieve the goals of membership.
4. 3 Training Methods of Pioneer Insurance Company Limited
On the job Training
Off the Job Training
Performance Appraisal
Steps involved in performance appraisal
- Employee Benefits And Compensations
- Grades And Classification Of Employee
- Daily And Weekly Hours Of Work
- Pay And Allowances
- Pioneer Insurance Company Limited Gratuity Rules
- Entitlement to gratuity and extent of gratuity
- Recovery of dues from gratuity
- Nomination
- Pioneer Insurance Company Limited Employees Provident Fund Rules
- Maintenance of the fund –
- Management:-
- Contributions
- Accounts
- Benefit :-
- Balance of company ’ s contribution
- Nomination
- Payment
- General Reserve Fund
- Investment
- Interpretation
- Classification Of Leave And Its Rules
- EARN LEAVE
- CASUAL LEAVE
- MATERNITY LEAVE
- Consideration For Granting Leave
The shop will be coordinated as per the rules as continued hereunder under Annexure–5. But on the off chance that, regardless communicated in the course of action letter, the Income Tax, which any accept, will be borne by the delegate. Each individual delegate will be given a confirmation near the completion of the cash-related year for the share of Income Tax deducted at source.
A delegate, who will deliver 5 (five) years alleged organization to the Company without control such as dismissal or disciplinary grounds, will be equipped to get fee. A specialist, who will land on the hour of super-magnification or complete the period of understanding, will be equipped for a hint. An agent, when he is done with the organization of the Company by ideals of customary or physical inadequacy or steady obliterated prosperity, will be equipped to get fee.
A specialist, when finished from the company's organization due to invalidation/reduction of position, will be equipped to get gratuity. A person due to the company will be able to recover from the share of tips before portion. 34;Sui Juris" (one of legitimate limits) as his/their guardian according to the decision of the talented court, to whom the share of gratuity will be paid for the minor applicant or selected persons in case of his fall.
Short title: These rules shall be called the Pioneer Insurance Company Limited Employees Provident Fund Rules. Object of the Fund: The object of the holding is to give each part of the retirement from his/her organization with the association a sum of money, the proportion of which will be. Trustees: At the moment there will be 7 (seven) Trustees of the Fund of which 3 (three) will be removed from the Board of Directors and the remaining 4 (four) individuals from the Fund will be appointed by the Managing Director. .
The Trustees shall appoint a Trustee of the Board of Trustees for a term chosen by the Trustees. Interest will be charged on the total credit of each installment at a rate determined close to consistent completion. Each agent will be provided with useful leave with full compensation for a total of 14 consecutive days.
The specialist will be provided with a vacation at a reasonable price for up to 15 days with full compensation in one year. 3 days acceptable leave will be allowed to be assumed or secured by any of the closed events or optional events.
EXTRA ORDINARY LEAVE
The leave approach will be implemented in phases, so that there is not much point in immediately going on leave in the event of explicit events that have an ominous influence on the movement of the association. The credit equality of his/her leave aggregate will be eligible for execution since the last return from leave, accepting any leave and rejecting the leave as this is a real concern for the association.
ATTENDANCE AND LATE COMING
LATE COMING
Awards
SWOT Analysis of Pioneer Insurance Company Limited
Strength of PICL
Weaknesses of PICL
Opportunity of PICL
Threats of PICL
Findings of the Study
10. The accumulated premium should put the assets in colossal and profitable parts so that PICL can restore their prospective customers.
Recommendation
Conclusion
