Muhammad Faisol Chowdhury - Wbiaus.org

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Chowdhurynot to take these MNCs into the research sample for a better understanding thesubject matter.4.2 Secondary SourcesFor an in-depth analysis of the topic and research questions, information were alsogathered from empirical studies and researches, peer reviewed business journalarticles, business magazines, reference books and internet website.4.3 Survey Analysis ToolThe survey data reviewed were collected and analyzed on the basis of the surveyframework to generate a meaningful and informative summary. The analysis wasobjective in nature and did not include opinions or judgements which were notbacked by supporting data (either qualitative or quantitative). Trends across all areasof HR were compiled and represented in the form of graphs and chart with possibleexplanations based on the business and cultural context of Bangladesh. Articles andpapers were also compiled with the survey analysis to get highlights of evolving HRpractices.iWork Numbers 2009 spreadsheet software was used to generate table and chartsfor data representation.5. ResultsThis section reports the results regarding the study‟s two research questions.In order to get the answer of the first research question where this study was tryingto identify the current prevalence of PMS in private organization of Bangladesh, chart1 shows the results regarding importance of implementing PMS in Bangladeshiorganizations.Chart 1: Importance of implementing PMS1007550250Financial Pharma Manufacturing Conglomerate IT/Telecom RMG FMCG NGO158
ChowdhuryThis survey probed into various tools and techniques used by organizations tocapture and evaluate performance. As observed from the responses, chart 1 showsthat most of the sectors apart from NGOs and financial sectors considered itimportant to have a standard system to evaluate performance. In IT / telecom sector,100 percent of the surveyed organizations responded positively that it is veryimportant to obtain, implement and manage a systematic PMS system. This isbecause, most of the surveyed telecommunication companies were MNCs and ITfirms were joint-ventures with investment from foreign entities. This finding highlightsthat, these organizations have actually adopted a strategic PMS approach andimplemented it by understanding the importance of HRM decision making in light ofperformance evaluation outcomes. Moreover, conglomerates as well as textile andgarment industries, which were local and mostly family owned organizations, hadalso understood the importance of having tools for PMS which showed a paradigmshift in traditional attitude. On the other hand, organizations under NGO sector foundit less important to practice PMS. Anecdotal evidence by Islam (2006), and empiricalresearch by Haque and Hossain (2010) found that employee turnover rate is usuallyhigher in NGOs compared to other sectors because of the short-term contractualnature of employment. Moreover, most of the NGOs are involved in developmentactivities of rural people and areas, and thus, have less orientation with corporatemanagement style and practices. So, absence of HRM and PMS is evident in thissector.Almost all the participating organizations had a performance appraisal form or formatto capture individual performance data. Most of the organizations evaluated theiremployees on individual performance target and behavioral attributes. Whileanalyzing the survey results, it was also found that in many organizations selfevaluationform was not a part of the performance evaluation system. In almost allcompanies the performance ratings were reviewed by the head of departments orimmediate superiors to the appraiser. In around 70 percent companies theperformance planning was done jointly by the employee and his / her supervisor toset the performance expectations at the beginning of the year, the performancerating was discussed with the employee by his / her superior or rater and the areasof improvement for the employee was identified and communicated to him / herduring the appraisal process. In all the organizations the performance rating largelydepended on the employee‟s performance. Apart from that, in a substantialproportion of companies, the rating of an employee depended on the organizationalperformance, the business unit or department‟s performance and team performance.However, in two-third of the companies belonging to the financial sector and morethan half of the conglomerates, the organizational performance was not taken intoconsideration for the employee‟s rating.159
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