MD. Abul Quasem
Deputy Governor, Bangladesh Bank :
Human resource (HR) development can be defined as the process of increasing knowledge, skills, and the capacity of people in a society. In economic terms, it could be described as the accumulation of human capital and its effective investment in the development of an economy. Research suggests a positive relationship between human capital and success as it helps business acquire resources such as financial and physical capital assisting in the accumulation of new knowledge and skills (OECD 2004). Similar viewed opined by Bank (2010) who argued that higher levels of human capital have been found to be strongly associated with higher level of productivity and workforce participation. In political terms, HR development prepares people for adult participation in the political processes particularly as citizens in a democracy. From the social and cultural point of view, the development of HR helps people lead richer and fuller lives, less bound by tradition.
Government’s initiative for HR Development
The Government of Bangladesh has been implementing various programs in the sectors related to human resource development like education and technology; health and family welfare; women and children; social welfare; youth and sports development; culture and labour and employment. After Sri Lanka, Bangladesh has earned a rare distinction among the least developed countries in the field of education at primary and secondary levels by ensuring gender balance. A substantial progress has been made in the health sector of the country as the government has given priority to the health, nutrition and population sector which is consistent with targets set out in the MDGs. Mortality and fertility rates have decreased. Average life expectancy has increased from 64.2 in 2001 to 66.8 in 2011. The rate of malnutrition has also reduced. Steps have been taken to make these achievements sustainable through an integrated sector program titled Health, Population and Nutrition Sector Development Program. To educate women of the country and to develop them as efficient work force and also to ensure their active participation in the mainstream of national development activities, the Government has recently declared the National Women Development Policy 2011. In addition, the National Children Policy, 2011 has been adopted to ensure the welfare of children and to protect their interest and rights.
HR Development in the Banking sector
The banking sector plays a pivotal to the development of HR in Bangladesh . It is found that most of the employees are satisfied with the prevailing strategic process and procedure of the banks in Bangladesh. They feel that the HR Department is playing a vital role in employee advocacy role. They also believe that the recruitment and selection policy is fair enough to choose the competent employees for the organization. The orientation process along with training facility excising in the organization is proper for achieving the strategic goals of the banks. It is important to mention that all paper activities in banks are now transformed in to e-paper activities. Regarding that, information technology orientation training is done by 60 percent bank of Bangladesh. Generally, the banking profession in Bangladesh is recognized with standardized salary scale, higher social status and dignity. In particular, human resources in banks are enjoying comparatively better facilities under the rules of banking industry. Employees of the banks are getting good number of bonus and compensation, including salary grade, leave facilities, housing facilities, gratuities, provident funds, and losses of accident or death of employees etc. Although this industry is growing rapidly, but, to sustain this growth, effective and timely policy should be taken, specifically, in case of placing right people in the right place.
Well-trained, skilled and educated HR is the driving force of the development of an economy. Dynamic and sustainable development is not possible without skilled manpower. In the wake of globalization, HR development agenda has assumed a new dimension. The Millennium Development Goals (MDGs) declared by the UN has placed human welfare and poverty alleviation as a central agenda of global development. The development agenda of the present Government reflects its commitment to human welfare which is meant to achieve the objective of HR development. From that point of view, HR development is an integral part of development agenda. Hence, the success of every organization is coming through the performance of the employees of that organization. As the activities are done through the human assets of the organization, therefore the management should be very much cautious to formulate and implement the HR policy for their organization that could satisfy and inspire the employees to meet the organizational goal. In this respect, the effectiveness of the employee performance is largely depends upon the HR policy and practices. Regarding that, each organization needs to give high concentration in the following three areas to achieve the organizational goal;
Man
A highly skilled workforce is essential for increased productivity. In this respect, the right personnel for the right position is a sure bet for organizational effectiveness and efficiency. Given this context, human resources determine the workings of the other basic business resources such as materials and money which are utilized in a productive manner to achieve goals or aims and objectives of organizations and enterprises. Poor employment practices are inimical to the sustenance of such ventures. Therefore, through employing a right man in the right job, a large portion of effective business management will have been achieved. No doubt about that.
Money
Without money, no venture or enterprise can motivate workers, get quality and sufficient materials, get the right machines and maintain them or even ensure that time is properly managed. Money management, when not properly organized has been the most known factor involved in collapse of enterprises in history. The quantity and quality of money expended in ventures have a direct bearing on the fruitfulness of same over time. Accounts Department has been revolutionized over the years, by man, to ensure maximum operations of surviving business organizations. Where there is not enough money, no good workers, materials, or machines can be employed or purchased or acquired. In other words, such a venture will be wasting its time existing in the first place.
Materials
Human resource is made redundant without materials. Thus every right thinking and right planning organization knows that materials needed for any business or service must be in place before ‘man’ can be of use in any business activity. Supply Chain Departments grew out of this thinking and have been a very useful and effective aspect of business management. For instance, a group of workers in a factory who has to wait for supply of materials may have nothing much to do for as long as the supply does not arrive. Even, if it arrives, but in poor quality, the production is damaged certainly to be hampered in business. This is an undeniable fact that poor quality of materials potentially ruins entrepreneurship.
