The report will provide a clear concept of the effective training and development practices at IDLC Finance Limited. I hope you will consider the errors that may appear in the report, despite my best efforts. Title of the Report: “Training and Development” Practices at IDLC Finance Limited Student Name: Syed Mehedi Hasan.
At the beginning I want to thank Allah for giving me the strength to complete my internship assignments. Also, I want to express my gratitude to my supervisor, Jakowan (Assistant Professor) School of Business and Economics, UIU for his helpful support. The first chapter contains the context of the report, objective of the report, motivation, scope, limitation and methodology.
In Chapter Five, I delve into my internship experience, including my role, position, responsibility, skills, and knowledge. Finally, in the last chapter, I have concluded this report by including conclusion, understanding and recommendation.
The Report Context
Objective of the report
Motivation of the report
Scope of study
Limitations of study
Methodology of study
Company overview
- Overview of IDLC Finance Limited
- Strategic objectives of IDLC Finance Limited
- Mission
- Vision
- Core values of IDLC Finance Limited
- Products and Services
- Capital Market
- Integrated Business process of IDLC Finance Limited
- SWOT Analysis of IDLC Finance Limited
Consumer: In this division, IDLC Finance Limited offers Home Loans, Car Loans and Personal Loans.. IDLC Finance has fully subsidiary information technology so that IDLC is not dependent on other IT companies. More Innovative Service- In the competitive market IDLC Finance Limited has to come up with new, affordable and attractive services.
Limited investment scope - As a non-banking financial institution, IDLC has not had sufficient investment scope. New NBFI - New non-bank financial institutions and other private banks pose a serious threat to IDLC Finance Limited. Existing Competitors - Competition among the existing service providers in terms of commission, interest rates and other various facilities.
Literature Review on HRM
- HR Functions
- Job Analysis and design
- Employee selection
- Training and Development
- Performance Management
- Pay Structure
- Employees relations
- Change Management
Employee selection describes the procedure of interviewing, evaluating and selecting an individual for employment based on specific criteria (qualifications, skills and experience). Training is a very important role that can create a change in an individual to improve his performance in work sectors. Investment in training measures and the implementation of development schemes are becoming increasingly recognized as vital elements of HRM.
Performance management is a process of ensuring that activity meets organizational goals effectively and efficiently. Wage structures, also known as wage structures, are categorized pay scales for different types of work. Compensation ranges are often included in salary structures, meaning that each pay scale is limited by a number of minimum and maximum salaries.
A good relationship in the organization provides fair treatment of all employees so that they remain so. The relationship that employees in a company have to each other is called employee relations. The primary responsibility of team leaders and superiors is to prevent conflicts in the team and promote positive working relationships.
Employee relations focuses on certain issues such as pay and benefits, supporting work-life balance, and safe working conditions. Structural changes - During structural changes, top management, with the help of consultants, tries to reconfigure these parts to achieve overall efficiency.
Training and Development” practices at IDLC Finance Limited
- People are developed via training
- Major focus area of personnel (Training and Development) at IDLC Finance Limited
- Types of training arranged by IDLC Finance Limited
- Effectiveness of the training and development at IDLC Finance Limited
- Findings of the study
IDLC maintains this local training process for their employees to get more KSA which will help to complete the task of matching the organizational standard. The IDLC training team selects the best coach and training facility based on the needs of the program. Internal training program- When employees receive training at the company's facilities, this is called internal training.
Public Training Program - According to the TNA, the IDLC nominates personnel for the training programs organized by various local training institutes. For this reason, the company invests a certain amount in training and development. On-the-job training - “On-the-job” training is a technique of providing training to IDLC Finance Limited employees while they are on the job.
The purpose of training is to familiarize the IDLC employees with the everyday work environment, therefore during the training period the employees will gain first-hand experience with tools, materials, machinery, equipment, etc. Off-the-job training- “Off-the-job training is a type of instruction that is completed for a set period of time at a location other than the actual workplace. Training and development helps in optimizing the HR department which helps the employees to achieve the goals of the company.
T&D provides the opportunity and a broad structure for HR development and employee growth development of IDLC Finance Limited. It will increase the knowledge and skill level of the employees, which can help the company gain a more profitable situation in the competitive market. IDLC Finance Limited identifies the right training requirements by analyzing the individual career plan, organizational requirements and current job role analysis, examining overall performance, conducting individual assessments and considering the industry.
Steps have been taken so that the long training session is not boring for the employees-. IDLC Finance Limited uses objective measurements to assess what trainers know or can do that they did not know or could not do prior to training. Use a control group of employees who did not attend the training session to compare their performance with employees who received training.
After analyzing the data, we can say that the training that IDLC Finance Limited arranges for its employees lives up to expectations. The training objective must be clear to the employees, and the employee knows why they are taking this training.
Internship Experience
Responsibility and Duties
Training as an intern
New Skills
Academic Knowledge
Conclusion and Recommendation
Recommendation
Key Understanding
Conclusion
