Opsonin Pharma Ltd.

Chapter -1 Introduction 1.1 Rationale for Selecting the Report

The study was conducted to evaluate the Compensation and Benefit Analysis procedure by HR and Admin of Opsonin Pharma Ltd. As the chosen organization is the giant Pharmaceutical company in Bangladesh, I have decided to find out the whole process and procedure of Compensation and Benefit Analysis system and practices regarding employment which is used inside the organization and also implemented in the activities based on the previous information and records and their current practices, that I obtained from the organization.

1.2 About Opsonin Pharma Ltd.

Pharmaceuticals sector is one of the most high growth and highly profitable industries in the country. At present, pharmaceutical industry is the second largest taxpayer to the countries exchequer. Most of the players of the industry enjoy high profit margin. One of the unique features of the industry is that import is restricted for products that are being produced by two local companies. The regulation encouraged local private investors in the sector. Advertisement being banned for drugs, more emphasis is given on sales force. Opsonin Pharma Ltd is committed to improve its position continuously as a Leading Pharmaceutical company in Bangladesh and strengthen its global presence. It creates value for its customers and other stakeholders by providing highest quality health care solutions through appropriate application and development of resources and processes.

1.3 Historical Background

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The Opsonin Pharma Limited Started it business operation in 1956 as a partnership business in the name Opsonin Chemical Limited. In the year 1976 the legal status was subsequently change & it got listed as private limited company. In 2005 the company was renamed as Opsonin Pharma Limited. 1956-2003 Integrating the visionary imagination for basic industrial development in this country by our Founder Chairman Late Abdul Khaleque Khan, the successors have already established a number of innovative & import substitute industrial units mainly in the pharmaceuticals and related sectors. The seed that was planted in the year 1956 now has become a tree. The way we walked though was not a smooth and plain one. After a thousand miles walk the plant of distilled water has now opened a new horizon in Bangladesh pharma industry. From the inception we always believed in nation building activities. Our cherished dream is to serve the mankind and the man behind the mankind. This dream has come into reality as a result of thousand miles throbbing walk of thousand people. 1956- Partnership business started. 1962- Manufacturing of injectables 1976- Enlisted as private limited company 1980- Expanded nationwide marketing & distribution 1982- Manufacturing of antibiotic capsules 1985- Export of products to South East Asia and the Middle East 1996- Manufacturing of suppositories first time in Bangladesh 1997- Manufacturing of soft gelatin capsules 2000- ISO 9001 certification 2003-Site development and planning for new factory 2005-Company name has changed from 'Opsonin Chemical Industires Ltd.' to 'Opsonin Pharma Ltd.' Support Division consist of the following departments1.Operational: Deals with the processing activities of the business department. 2.Finance: Deals with the financial of organization and reporting. 3.Human Resource: Deals with People of the organization. [2]

4.Administration: Ensure the smooth running of the organization by providing logistic support etc. 5.Commercial: Commercial Department deals with purchase of raw materials. 6.Marketing: Deals with the marketing of our Production.

1.4 About Company Profile

Company Address:
Corporate Office: Opsonin Building, 30 New Eskaton Road, Dhaka1000, Bangladesh Tel: 933 2262 935 6451, Fax: 880-2-831 4450 Website:www.opsonin.com,email:[email protected] Business Profile Opsonin Pharma Ltd is a manufacturer of the medicines & healthcare products in Bangladesh. The company is selling its product both in local & international market. Its main market across the border of Africa, Oceania, Middle East & Eastern Asia. Opsonin Pharma Ltd has adopted the World Health Organizations (WHO) guidelines on GMP in the quality Management system. Quality Assurance Procedures ensure that the quality of the products is maintained by strict compliance with international Pharmacopoeias specification on raw materials, packing materials & finished products. Opsonin Pharma Ltd has more than 2100 employees which includes diversified professional team like Pharmacist , Chemist, biochemist, chartered accountant , cost & management accountant etc. The company has a large sales team of more than 425

professionally trained persons who are confirming the distribution of the products throughout the country.

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1.5 Vision & Mission and Value of Opsonin Pharma Ltd.

Vision of the Company 1. From the very beginning vision of Opsonin company is to produce & supply that type of medicine which meets the demand of daily life of the people. 2. The prevent from new disease of Opsonin pharmaceutical committed to supply medicine to the hard to reach area of the country. 3. Opsonin Company is always wants to develop the level of life expectancy of the people. 4. Vision of the Opsonin is established Opsonin permanently among the best innovative branded generic companies.

Mission of the Company To provide maximum value to companies customers, shareholders, colleagues and communities where we live and work. 1. Determine market potentialities through research 2. Introducing new innovative sources and technology. 3. Ensuring quality product and services confirm to the international standard. 4. Exceeding customer satisfaction and gaining trust through quality product and services. 5. Expanding the business home and abroad.

Values of the Company In order to achieve the aspired vision employees should subscribe to the following For quality all employee do anything. Live up to own commitment Transparent and fair in all dealings Take initiative to exceed standard Believe in continuous improvement [4]

Believe in Change to bring in timely solution. Work as a team Recognizing achievements, celebrates results Socially responsible.

1.6 Company Organogram:

Overall Organogram

Opsonin Pharma Limited

Organogram of Human Resources Department

Head of HR

Project Manager

Administration

Organizational Development

Employee Relations

Compensation & Benefit

Sr. Executive, Admin Executive, Transport Sr. Officer, Logistics

Sr. Executive, Automobile

Sr. Executive, HR (OD) Executive, HR (OD) Executive, HR (ER) Executive, HR (C&B)

Sub Assistant Engineer

Officer, Maintenance

Officer, Automobile

Officer, HR

Jr. Officer, Stationery & Inventory

Jr. Officer, Food & Catering

Jr. Officer, Dispatch Services

Sr. Computer Operator

Head Mechanics Mechanic

Sr. Computer Operator

Driver

1.7 Objectives of the Study:

The main objective of the study is to finding out the present compensation and benefits of Opsonin Pharma. And also to fulfill the requirement of BBA program. The objective of the study may be viewed as: To know the existing compensation structure of Opsonin Pharma, [5]

 To evaluate whether the existing compensation and benefit structure is working or not at Opsonin Pharma, To give recommendation on compensation and benefit, To submit the practical work as a paper work that I have learned in my three months internship of BBA program.

Chapter: 2 Activities Undertaken

2.0 Duties and responsibility as an Intern
As my report title is Compensation and Benefit Analysis Process of Opsonin Pharma Ltd. and as I mention that I did my internship at Human Resource department so during my internship I did a lot of work that assigned by my department supervisor. To do all the HR tasks I ha d to involve in their whole HR activity. Works that have been performed by me are written below: I did analysis the whole HR practice of OPL. I analyses the Compensation and Benefit process of OPL. I have visited the whole office for checking their operations. I also analyses the employees opinion based on their demand of OPL. I maintain the whole wages & salary policy which they followed in their activities.

2.1 Human Resource Management of Opsinin Pharma Ltd.

Human Resource Management (HRM) is the function within the OPL focuses on recruitment, management, and providing direction for the people who work in the organization. Human Resource Management can also be performed by line managers in OPL. Human Resource Management is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training. In OPL HRM is also a strategic and comprehensive approach to managing people and the workplace culture and environment. Effective HRM enables employees to contribute effectively [6]

and productively to the overall company direction and the accomplishment of the organization's goals and objectives.

OPL has more than 2,100 employees which includes diversified professional team like pharmacist, chemist, biochemist, microbiologist, engineer, medical professional, IT professional, chartered accountant, cost and management accountant business graduates etc. OPL is committed to develop its human resources through continuous training and development. We have a large sales team comprising of 425 professionally trained persons.

Figure: HR function

2.2 Compensation and Benefit of OPL

2.2.1 COMPENSATION:
In financial terms, the salary and wages you pay to your employees for the work they do. Other, nonfinancial forms of compensation can also be offered to attract and retain staff. Gary Dessler in his book Human Resource Management defines compensation in these words "Employee compensation refers to all forms of pay going to employees and arising from their

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employment." The phrase 'all forms of pay' in the definition does not include non-financial benefits, but all the direct and indirect financial compensations. Compensation must be defined in a plan for many purposes. Each plan component can use a different definition of compensation. several ways. Compensation may be used to determine the amount of benefits accrued in a defined benefit plan or the amount of contributions allocated to accounts for a defined contribution plan. In addition to calculating the amount of benefits, compensation also places limits on the amount of benefits or allocations. When a mandatory top heavy benefit arises, compensation is used to determine the amount of the top heavy benefit. Compensation is also a factor when testing the plan for non- discrimination. Finally, compensation is used by the employer when figuring out the deduction limits. Because the definition of compensation has so many plan applications, it is important to be able to define and distinguish the requirements for compensation for various plan purposes. Items which are always required to be excluded from compensation for purposes of are as follows: Contributions made by the employer to deferred compensation plans to the extent that the contributions are not includible in the employees gross income. Distributions from deferred compensation plans. However, any amounts received by an employee pursuant to an unfunded non-qualified plan are permitted to be considered as compensation for IRC Section 415 purposes in the year the amounts are includible in the gross income of the employee. Amounts realized from the exercise of nonqualified stock options Amounts realized from the sale or exchange of stock acquired under a qualified stock option. Certain premiums for group-term life insurance. Therefore, a single plan may define compensation

Compensation is based on:

Market research about the worth of similar jobs in the marketplace, Employee contributions and accomplishments, [8]

The availability of employees with like skills in the marketplace, The desire of the employer to attract and retain a particular employee for the value they are perceived to add to the employment relationship, and

The profitability of the company or the funds available in a non-profit or public sector setting, and thus, the ability of an employer to pay market-rate compensation.

2.2.2 BENEFITS:
Employees today are not willing to work only for the cash alone, they expect 'extra'. This extra is known as employee benefits. Also known as fringe benefits, Employee benefits are non-financial form of compensation offered in addition to cash salary to enrich workers lives. Employee benefits are various non-wage compensations provided to employees in addition to their normal wages or salaries. In instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a 'salary sacrifice' or 'salary exchange' arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree. Examples of these benefits include: housing (employer-provided or employer-paid), group insurance (health, dental, life etc.), disability income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), social security, profit sharing, funding of education, and other specialized benefits. The purpose of the benefits is to increase the economic security of employees. Employee benefits are not performance-based, they are membership-based. Workers receive benefits regardless of their performances. Employee benefits as a whole have no direct affect on employee performance, however, inadequate benefits do contribute to low satisfaction level and increase absenteeism and turnover in employees (De Cenzo and Robbins; 2007). So every company would have to carefully design their benefit package. Companys package may include a cell phone to each worker, taking them to a training workshop or seminar, giving them a day or two off every month and so on. While deciding on the benefits package, do consider the associated costs. Employees should be managed properly and motivated by providing best remuneration and compensation as per the industry standards. It is an integral part of the management of his [9]

organization. Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. It may achieve several purposes assisting in recruitment, job performance, and job satisfaction. (Farhaan Panagar) . The lucrative compensation will also serve the need for attracting and retaining the best employees. . Compensation is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. Susan M. Heathfield has said that compensation is the total amount of the monetary and nonmonetary pay provided to an employee by an employer in return for work performed as required. Compensation Includes writing job descriptions, conducting performance evaluations, and monitoring and administering benefits packages. (Anselmo L S Teng). Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness.

Need of Compensation Management A good compensation package is important to motivate the employees to increase the organizational productivity. Unless compensation is provided no one will come and work for the organization. Thus, compensation helps in running an organization effectively and accomplishing its goals. Salary is just a part of the compensation system, the employees have other psychological and self-actualization needs to fulfill. Thus, compensation serves the purpose.

The most competitive compensation will help the organization to attract and sustain the best talent. The compensation package should be as per industry standards Compensation and benefits is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. (PJ Hayes)

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2.3 ADVANTAGES OF COMPENSATION & BENEFITS

2.3.1 Advantages to Boutique: A well designed compensation and benefits plan helps to attract, motivate and retain talent in every firm. A well designed compensation & benefits plan will benefit companys boutique in the following ways. 1. Job satisfaction: Employees would be happy with their jobs and would love to work for company if they get fair rewards in exchange of their services. 2. Motivation: All employees have different kinds of needs. Some want money so they work for the company which gives them higher pay. Some value achievement more than money, they would associate themselves with firms which offer greater chances of promotion, learning and development. A compensation plan that hits workers needs is more likely to motivate them to act in the desired way. 3. Low Absenteeism: Why would anyone want to skip the day and watch not-so-favorite TV program at home, if they enjoy the office environment and are happy with their salaries and get what they need and want? 4. Low Turnover: Would companys employee want to work for any other boutique if they offer them fair rewards. Rewards which they thought they deserved?

2.3.2Advantage to Employees: 1. Peace of Mind: Company offering of several types of insurances to the workers relieves them from certain fears. Then workers as a result now work with relaxed mind. 2. Increases self-confidence: Every human being wants his/her efforts to get acknowledgment. Employees gain more and more confidence in them and in their abilities if they receive just rewards. As a result, their performance level shoots up. The area of Compensation and Benefits belongs to the most specialized areas in Human Resources Management. Compensation and Benefits usually plays the role of the HR Controlling, setting the rules and procedures around the salaries, variable pay and benefits.

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Compensation and Benefits is usually the function of HRM most connected with the competitors on the market and it sets the compensation policies, which are fully competitive on the job market, but the policies still meet the targets defined by the organization. The clear definition of processes in Compensation and Benefits is very important as the processes are under the attacks from the line management every single day. There is no a day without a pressure for the salary review at the individual employees and the rules and standards must be waterproof.

2.4 The basic components of employee compensation and benefits

Employee compensation and benefits are basically divided into four categories: 1. Guaranteed pay monetary (cash) reward paid by an employer to an employee based on employee/employer relations. The most common form of guaranteed pay is the basic salary. 2. Variable pay monetary (cash) reward paid by an employer to an employee that is contingent on discretion, performance or results achieved. The most common forms are bonuses and sales incentives. 3. Benefits programs an employer uses to supplement employees compensation, such as paid time-off, medical insurance, company car, and more. 4. Equity-based compensation a plan using the employers share as compensation. The most common examples are stock options.

Guaranteed pay:
Guaranteed pay is a monetary (cash) reward. The basic element of the guaranteed pay is the base salary, paid based on an hourly, daily, weekly, bi-weekly or a monthly rate. The base salary is typically used by employees for ongoing consumption. Many countries dictate the minimum base salary defining a minimum wage. Individual skills and level of experience of employees leave room for differentiation of income-levels within the job-based pay structure.

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In addition to base salary, there are other pay elements which are paid based solely on employee/employer relations, such salary and seniority allowance.

Variable pay:
Variable pay is a monetary (cash) reward that is contingent on discretion, performance or results achieved. There are different types of variable pay plans, such as bonus schemes, sales incentives (commission), overtime pay, and more. An example where this type of compensation plan is prevalent is the real estate industry and real estate agents. A common variable pay plan might be the sales person receives 50% of every dollar they bring in up to a level of revenue at which they then bump up to 85% for every dollar they bring in going forward. Typically, this type of plan is based on an annual period of time requiring a "resetting" each year back to the starting point of 50%. Sometimes this type of plan is administered so that the sales person never resets and never falls down to a lower level. It also includes Performance Linked Incentive which is variable and may range from 130% to 0% as per performance of the individual as per his KRA.

Benefits:
There is a wide variety of employee benefits, such as paid time-off, insurances (life insurance, medical/dental insurance, and work disability insurance), pension plan, company car, and more. A benefit plan is designed to address a specific need and is often provided not in the form of cash. Many countries dictate different minimum benefits, such as minimum paid time-off, employers pension contribution, sick pay, and more.

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Equity-based compensation:
Equity based compensation is an employer compensation plan using the employers shares as employee compensation. The most common form is stock options, yet employers use additional vehicles such as restricted stock, restricted stock units (RSU), employee stock purchase plan (ESPP), and stock appreciation rights (SAR). The classic objectives of equity based compensation plans are retention, attraction of new hires and aligning employees and shareholders interests.

Organizational place
In most companies, compensation & benefits (C&B) is a sub-function of the human-resources function. HR organizations in big companies are typically divided into three: HR business partners (HRBPs), HR centers of excellence, and HR shared services. C&B is an HR center of excellence, like staffing and organizational development (OD).

Main influencers
Employee compensation and benefits main influencers can be divided into two: internal (company) and external influencers. The most important internal influencers are the business objectives, labor unions, internal equity (the idea of compensating employees in similar jobs and similar performance in a similar way), organizational culture and organizational structure. The most important external influences are the state of the economy, inflation, unemployment rate, the relevant labor market, labor law, tax law, and the relevant industry habits and trends.

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Bonus plans
Bonus plans are variable pay plans. They have three classic objectives: 1. Adjust labor cost to financial results the basic idea is to create a bonus plan where the company is paying more bonuses in good times and less (or no) bonuses in bad times. By having bonus plan budget adjusted according to financial results, the companys labor cost is automatically reduced when the company isnt doing so well, while good company performance drives higher bonuses to employees.

2. Drive employee performance the basic idea is that if an employee knows that his/her bonus depend on the occurrence of a specific event (or paid according to performance, or if a certain goal is achieved), then the employee will do whatever he/she can to secure this event (or improve their performance, or achieve the desired goal). In other words, the bonus is creating an incentive to improve business performance (as defined through the bonus plan). 3. Employee retention retention is not a primary objective of bonus plans, yet bonuses are thought to bring value with employee retention as well, for three reasons: a) a well designed bonus plan is paying more money to better performers; a competitor offering a competing joboffer to these top performers is likely to face a higher hurdle, given that these employees are already paid higher due to the bonus plan. b) if the bonus is paid annually, employee is less inclined to leave the company before bonus payout; often the reason for leaving (e.g. dispute with the manager, competing job offer) 'goes away' by the time the bonus is paid. the bonus plan 'buy' more time for the company to retain the employee. c) employees paid more are more satisfied with their job (all other things being equal) thus less inclined to leave their employer. The concept saying bonus plans can improve employee performance is based on the work of Frederic Skinner, perhaps the most influential psychologist of the 20th century. Using the concept of Operant Conditioning, Skinner claimed that an organism (animal, human being) is shaping his/her voluntary behavior based on its extrinsic environmental consequences i.e. reinforcement or punishment. This concept captured the heart of many, and indeed most bonus plans nowadays are designed according to it, yet since the late 1940s a growing body of [15]

empirical evidence suggested that these if-then rewards do not work in a variety of settings common to the modern workplace. Research even suggested that these type of bonus plans have the potential of damaging employee performance. Compensation is payment to an employee in return for their contribution to the organization, that is, for doing their job. The most common forms of compensation are wages, salaries and tips. {W Lewellen}

2.5 Compensation, Benefits and Services:

Every employee receives the salary as the compensation. The salary varies with the seniority, position in the hierarchy of the organization. Salary comprises House rent allowance, Traveling allowance, and Interim allowance. Income tax and Provident fund is deducted from the salary amount. Other services including housing facility, transportation facility, loan at lower rate of interest etc. But all of these vary with the hierarchical seniority of the employee in OPL other benefits include sick leave, pension scheme, capital accumulation plan and insurance.

Employees get bonus two times in a year during two Eid festivals. In every year OPL gives 5% of benefits o the employees. In the field have the Medical Promotion Officer (MPO) achieve his sales together he gets 50% incentives. If any Employee achieve him target & in national ranking if he is 100, there is position of foreign tour. Sometime they receive the annual increments.

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2.5.1 Reward & Compensation

Components of an overall compensation and rewards strategy often include:

First,

intrinsic rewards monetary rewards wages salaries commissions you must tailor our compensation strategy to our industry, our workforce, and our location. After we discuss that, well discuss reward strategies.

organization

An outcome that gives an individual personal satisfaction such as that derived from a job well done. Monetary means relating to money, especially the total amount of money in a country. Money that is paid or received for work orservices, as by the hour, day, or week. Compare living wage, minimum wage. A fixed regular payment made by an employer, often monthly, for professional or office work as opposed to manual work Compare wage. A fee charged by a broker or agent for his/her service in facilitating a transaction, such as the buying or selling of securities or real estate. In the case of securities trading, brokers can be split into two broad categories depending on the commissions they charge. Discount brokers charge relatively low commissions, brokers charge but provide no services beyond commissions, but

executing trades. Full

service

higher

provide research and investment advisory services.

2.5.2 Compensation Strategies Range from Basic:

A compensation strategy ought to reinforce your organizations needs and values and can strengthen workforce alignment. A sound compensation plan will position your organization in its market, contribute to its reputation, and help you attract and keep employees. Compensation plans often include a range of components such as

wages salaries commissions bonuses [17]

Much of a successful compensation strategy, especially in a competitive market, depends on what your competitors compensation systems include. Here are some of the most common components to consider when developing a compensation strategy.

2.6 Employee Wages and Salaries:

Wage to mean hourly pay and Salary to mean annualized pay. No matter how you pay our employees, its important to perform regular salary benchmarking and to use up-to-date, specific data for your positions. Pay Scale has great information and resources, as well as helpful tools for you to use to make the most of the information.

Another source to check data through is the Department of Labor. The Employment Security Department is another potential data source. The data will likely be a couple of years old, so it may need to be aged to bring it up to current levels. I use the Bureau of Labor Statistics inflation calculator to help me age data. The calculator lets you plug in the amount and year of the data and will show you a result corrected for inflation. This is generalized, and if we can find better inflation data for our area, use that instead.

2.7 Compensation Strategy:

We may choose to set your wage or salary levels at the mid-range of your market. If choose to pay lower than the market rate, you may not attract the star employees. If do not need to attract star employees, do not pay the extra amount that will attract them to work for you.

On the other hand, if you do need stars and you get too zealous about attracting them by being at the top of the market you may find yourself in a pickle when they want a raise. Then youll need to exceed the market, or risk the employees going to a competitor. Wages or salaries are often referred to as the base, meaning they form the basis of employee compensation, even if they are the entire employee compensation. This definition will be important later on. [18]

2.7.1 Commissions:
Commissions can be used several different ways: Replace a salary after an employee gets seasoned in the field.

Take the place of ever paying salary and wages. Be blended with salary and wages the whole time

Consider using commissions to supplement salaries (often called base plus commission) up to a certain percentage. You could also use different percentages to emphasize particular needed results. We could tie commissions to performance and sales to induce employees to achieve higher levels. Some successful companies give high salaries and low commissions, and some do the opposite. They choose depending on the industry expectations and the workforce development strategy. Bonuses, Wages, salaries, and commissions can all create a bow wave. That is, future wages, salaries, and commissions must exceed the current levels to seem to the employees like improvements. This can be true even if the economy is bad and revenue is down.

In my experience, bonuses are best used as rewards. I know some industries have long considered them as employee entitlements. However, if they become part of the base this way, they make the bow wave taller and harder for you as the employer to top in the next compensation negotiation. Another possible outcome is your employees will expect bonuses regularly even if their performance does not warrant them.

2.7.2 Employee Reward Strategies Range from Basic to Complex:

Developing an employee rewards strategy is really the place to play, have fun and be creative. Reward strategies can be uniquely yours, and distinguish your company as the place to work. This is an excellent opportunity for reinforcing your organizations brand. Giving gift certificates or cards in a down economy is great. Several organizations may join together to promote each others organization by giving gift certificates to each others companies as a reward for good performance. Employees meeting a performance goal or working together to meet an extremely tight timeframe may be good cause to treat them to a party or picnic. Some organizations even give away trips as rewards to their top sales producers. [19]

2.8 Workplace Environment:

Dont forget that your workplace environment can also be a huge benefit to employees. That is why I consider it part of an employee rewards system. Here is a list of ways you can make we work environment more positive for your employees Support your high achievers. High achievers want to work with other high achievers. They know that even a few low achievers will consume most of the attention of an organization and suck the life out of it. Set up performance improvement programs for your low achievers, and hold them accountable for following-through. If performance does not improve, help them transition out of you organization. Give respect. Empower your employees who have proven to you that they have good judgment by allowing them to make recommendations on how to handle difficult situations.

Make transportation green and cheap. Transit passes offered in your organization are a great way to participate in making our organization environmentally sensitive. There may be governmental inducements available to you for doing that. Promote healthy choices. We can also pair up with a neighborhood athletic club or gym, either for gift certificates or reduced membership for your employees.

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Chapter: 3 Challenges & Proposed Action Plans

The study was limited only to the Opsonin group Limited. Another Problem was time constraints. The company was a busy one having heavy rush of people, whom officers need to deal with. So allocation of time for an internee is very much tough for the officers of the company. I was not assigned for a specific task in each day. So I was not able to understand compensation activities deeply. The company does not interest to provide me confidential data. As a result in my report there is a confidential data limitation. Omission and error may be there due to my lack of experience in preparing a professional report like this one.

SWOT Analysis
STRENGTH of OPL:
Open HR Manual There is a Human Resource manual of Opsonin Pharma Limited Bank Limited Which is open to all of Its employee give total understanding of the terms and condition of the organization to assist the benefit and growth they can achieve and the role of Human Resource Department with all other departments/division of the organization .The HR Manual is uploaded in the internal website of Opsonin Pharma Limited.

Empowered Work Force As the human resource of Opsonin Pharma Limited is externally well thought and perfectly managed, the top management believed in empowered employees to all levels of branches. This empowered environment makes Opsonin Pharma Limited a better Place for the employees. The employees are not suffocated with the authority but are able to grow as the organization mature.

Strong Bonding and Belongingness Opsonin Pharma Limited employees are One of the major assets of the company. The employees have a strong sense of commitment towards organization and also feel proud and sense of

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belongingness toward Opsonin Pharma Limited. This strong organizational culture is a main strength of the organization.

Information Technology Personal computer ,email for all employee enable the employees work easier and faster with professionalism .All kind of Benefits, salaries and monetary rewards directly given to employees by the own technological system.

Different Staff Loan There is a set of staff loans in Opsonin Pharma Limited increase the employee satisfaction in terms of monetary benefit enable them more stress free and put dedication. Performance Appraisal Through performance appraisal process is still under reconstruction, the existing method is satisfactory and motivated staff toward accomplishment in the past. Employee Evaluation Employee evaluation process by Human Resource Department became strength for its fair judgment and put trust among the employees of all branches on Human Resource Department .

WEAKNESS of OPL:
Compensation and Benefits Compensation and Benefit of Opsonin Pharma Limited employee is provided by the Human Resource Department through software named Oracle. Those software is not flexible to use and has lot of limitation.

HR Accounting Human Resource accounting is a Strong tool for matching the benefits of each new recruitment done in the organization, turnover, etc. Human Resource Department of Opsonin Pharma Limited is not yet established this practice.

Job Description [22]

Job description is a necessary accomplishment should have for each position for recruiting the most suitable candidate on the basis of skill and experience required. Still hundred percent job descriptions is not prepared or collected by the HR department for branches.

OPPORTUNITY of OPL: Technical Procedure Eskaton Branch stay in a competitive place and they many competitor. In this branch, they have the technical procedures to overcome those competitors .All competitor always think about this branch and always think seriously. Provide quick service In Eskaton branch all customers always satisfy about employees service. All employees are careful about their service. In the service providing sector this phermacitical have perfume mind blowing performance. Market Capturing This branch is situated in eskaton branch, which is renowned as a commercial are and this area could be an opportunity for this organization. They have some shopping mall, restaurant, college and schools this is an opportunity for them because its not only phermacitical company they have many garments and so on.

Training & Learning Training & Learning is the core function for make the executives cope with the new senior and make them update and knowledgeable. Opsonin Pharma Limited is going utilize its fullest capacity and enthusiasm in these regards by establishment a library, arranging extensive training module etc for employees branches very soon.

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THREATS of OPL: Competitive Salary and Turnover The salary package of Opsonin Pharma Limited is not competitive as the market demands, so the turnover of manpower is increasing day by day. New /Multinational companies/Phermacitical Policy New multinational companies and phermacitical policy got as threat to Opsonin Pharma Limited is respect increasing the salary expectation of the employees and new HR practices tuning the existing employee dissatisfied. Bangladesh pharmaceutical Regulation The regulation and legislation of Bangladesh pharmaceutical is randomly changing the scenario of the Human Resource policy and scope suddenly.

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Chapter 4 Lessons learned from the internship program.

To have the opportunity to work here is a blessing to me. I have gathered a wide range of from here. As a student we always hear our peer, partners, professions and advisors follow-up to getting experience in the career field of a possible job. The experience behavior and dealing of the staffs here is worthy to mention. I have learnt official behavior and dealings from them. I have gained knowledge about how to perform official jobs. Perfectly, run the administration, how to maintain official procedure and make a perfect business plan. The chain of command of the organization is remarkable. The planning of HR is the key here.

4.1 How internship experience impacts my career:

To me this organization provides with every facility to universitys internship program. From top to bottom, everybody here is very sincere to provide any assistance needed to make the program successful. There are favorable atmosphere exists for internship program. I am really grateful to the organization especially to the honorable Senior HR Executive of the organization. Skills are something to be acquired through practical experience. To me the staffs here are always dynamic to improve their skills under good administration and in a congenial atmosphere. The newer recruits are always encored to be skilled through providing incentives. Some practices here are mention worthy specially the behaviors, greetings, maintaining chain of commands and workings, sincerely. Moreover, they are always dedicated for the betterment of the organization.

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Chapter -5 Concluding Statements and Recommendations 5.1 CONCLUSION:

During the three months internship Program at OPL, almost all the desk has been observed more or less. This internship program have been arranged for gaining knowledge and compare practical knowledge with theoretical involves identification of weakness in the activities and making recommendations for solving the weakness identified .Through all desk are covered in the internship program, it is not possible to go to the depth of each activities of desk because of time limitation. However, height effort has been given to achieve the objectives the

internship program. So employees will also have easier access to HR department wherever they will require any approval. Similarly, the success of a office mainly depends on their officers & executives behavior, attitude, skills, knowledge, sharpness of work, experience, smartness, delivery of articulation, communication ability and last but not least manageable capacities etc. Necessary logistic support plays a vital role for improving and developing the services of a branch as well as organization. From the above discussion, we can conclude that skilled Manpower, capability and capacity of Officers/Executives give rise to an effective system.

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5.2 RECOMMENDATIONS:
From my three month of internship experience , I think the following measure could be taken by Opsonin Pharma Ltd authority for strengthening their position both in the local market and also across the globe. 1. Opsonin Pharma Limited should emphasize more to increase their market growth rate & market Share. 2. Evaluating for the good performance of the employees by introducing instant reward and incentives. 3. Opsonin Pharma Limited should try to perform some social responsibility like establishment of Hospital, providing medical facility to any rural areas for particular period of time. 4. For employee are not highly committed to their job. 5. Here loan processing is so much lengthy; it is bad for the employer. Try to avoid the lengthy process. 6. Weekly & monthly program should be organized. 7. Reward system can be introduced to employee as per the working performance. 8. Organization hierarchy. 9. In case of system design ,review and improvement.HR are not take input from all the employees department in many cases the performance standards, objectives are not clearly communicated to the employees ;as a result employees confused about what is expected from them. At the end I would like say that Bangladesh is poor country where we have to depend on import of foreign product for fulfillment of demand. But Pharmaceutical industry is an exception, which does not depend on foreign product rather we can fulfill our demand by ourselves. This is a great proud for us. Our Pharmaceutical product is full of outstanding quality. That day is not far away when Opsonin Pharmaceutical Ltd. will become a global based Company.

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5.3 REFARANCE:
Books: Deslarer, Gary, (2005), "Human Resources Management(9th Edition), New Delhi. Ricky, w. Griffin (2005-2006),Management,(7th edition) Boston New York, Houghton Mifflin company. Deconzo. A David Robbin, P Stephen (2004-2005) "Human Resources Management"7th edition, New York.

Websites:
http://www.opsonin.com http://www. google.com http://www.trueinfos.com/images/pictures/hr/hrfunction.jpg

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