Human Resources Management Essay

Human Resources Management (HRM) is a new concept. It is a combination of HR, Accounting, Management, Financial Management and Economics. Globalization to would economy has exposed the corporate business organization to worldwide competition, mobilization of professional manpower and modern quantitative management practice. So, there are growing realization cannot achieve its goal effectively and efficiently. To face this complex management challenge, effective objectively measurable database system to measure and apply HRM information. Now-a-days, in Bangladesh, every year, and huge amount of money and talented HRM are being engaged by corporate to improve the productivity or skills o f their workforce across the country. Such huge expenditures are made with the expectation of future returns in terms of improved services to be rendered by skilled employees. In other words, organizations by investing human resources development definitely increase the service potentials embodied in human resources and these investments thus create economic assets for the organizations. Human resource (or personnel) management, in the sense of getting things done through people, is an essential part of every manager’s responsibilities, but many organizations find it advantageous to establish a specialist division to provide an expert service dedicated to ensuring that the human resource function is performed efficiently. â€Å"People are our most valuable asset† is a cliche which no member of any senior management team would disagree with. Yet, the reality for many organizations are that their people remain under valued, under trained and under utilized. The rate of change facing organizations has never been greater and organizations must absorb and manage change at a much faster rate than in the past. In order to implement a successful business strategy to face this challenge, organizations, large or small, must ensure that they have the right people capable of delivering the strategy. There is a long-standing argument about where HR-related functions should be organized into large organizations, e. g. , â€Å"should HR be in the Organization Development department or the other way around? The HRM function and HRD profession have undergone tremendous change over the past 20-30 years. Many years ago, large organizations looked to the â€Å"Personnel Department,† mostly to manage the paperwork around hiring and paying people. More recently, organizations consider the â€Å"HR Department† as playing a major role in staffing, training and helping to manage people so that people and the organization are performing at maxim um capability in a highly fulfilling manner. Company Profile History of Partex Group: Partex Group is among the large Bangladesh private sector manufacturing and service based enterprises, owning and operating over twenty units giving value for money to all customers. The group started modestly in 1959 in tobacco trading and with prudent entrepreneurship of our Founder Chairman Mr. M. A. Hashem today we have a stake in tobacco, food, water, soft drinks, steel container, edible oil, wooden board, furniture, cotton yarn and the IT sector. After Bangladesh was established our Chairman set up M/S Hashem Corporation (Pvt) Ltd. n Chittagong city meeting the large demand of food and materials needed for sustaining the needs of a new nation through imports. From importing to import substitution was the next logical step and the stepping stone into the manufacturing sector, which has matured to the multi million dollar diverse investment of the Partex Group today. A dedicated work force and committed board members led by our Chairman and backed by a market oriented corporate strategy has been the cornerstone of our success. Today the group has over twenty family owned private limited companies with a sizable turnover. Ours is a dynamic organization always exploring new ideas and avenues to expand and grow further. Long before environment came to dominate the development agenda. Star Particle Board Mills in the sixties pioneered an eco-friendly industry to reduce pressure on our scarce forest recourses. It is a unique combination of environmental protection and commerce; belaying most doomsayers who claim the two to be at odds. The one score and ten year successful perpetuation of our timber substitute products not only speak volumes of the foresight of Partex’s founders but also their vision of the future. They make particle board from agro-waste, mostly jute stalks, and ensure greater value to the jute growers of Bangladesh. Products are processed using modern technology to produce homogenous and strong particle board that can withstand seasonal change and are free from termite and fungal attack. These particle boards go on to produce veneered boards of various design and texture. Also door panels both plains and decorative in various finishes and sizes. In addition their produce special furniture boards, stylish furniture and even various plywood on our range of products. Beside, in house and outside training, recruits business graduates from reputed universities as management training for mainstream banking to enrich quality of human resources contributing towards operations effective and long-term sustainable results. Vision Statement: The Sky is not the limit for us, but their expectation is within limits. Therefore, their imagination soars beyond conventional barriers. Partex Group share or destiny with their beloved motherland. They want to serve her in the greater quest for national uplift. Mission statement: To sincere traveler, the way is never too long. Partex Group believes in â€Å"progress in diversity and service through entrepreneur†. They are merchants and missionaries, doers and dreamers, entrepreneurs and professionals. They are futuristic with emphasis on creating thinking and dynamic action. High quality financial services with the help the latest technology. Fast and accurate customer services Balance growth strategy High standard business ethics Steady return on shareholders equity. Innovative banking at a competitive price. Attract and retain quality human resource. Firm commitment to the society and the growth of national economy. The spirit: Enterprise is Partex Group’s spirit. Partex Group manufactures superior import-substitute consumer and industrial products. Their cutting edge precision leads to greater public utility and hygiene, with a great care for the environment and human inhabitation. It is the very ingredient that gives their organization the integrity upon which their reputation is built and we zealously guard it everyday. Many a thousand minds of their group contributed to their gathered knowledge to keep the wheels rolling that in turn leads them to goal. This cumulative strength of knowledge is required, today, to find new solutions for the manifold problems of fast- changing economic cultural and ecological milieu. Objectives: Partex Group is a customer focused modern banking institution thriving fast in both earning and ability to stand out as a leading banking institution in Bangladesh. They deliver unparalleled financial services with the touch of heart to Retail, Small and Medium Scale Enterprises (SMEs), corporate, institutional and governmental clients through the outlets of branches across the country. Their business initiatives center on the emerging need of the clients. Partex Groups’ client commitments are the following: Provided services with high degree of professionalism and use of most modern technology. Create life-long relationship based on mutual trust and respect. Respond to customer needs with speed and accuracy.