Strategies_Shortage_&_Surplus_of_Premier_Bank_of_Bangladesh

Strategies for managing shortage of manpower Every bank follows some strategy. As a prominent bank of Bangladesh Premier Bank also follow some strategies. A strategy for managing shortage of manpower is one of them. Premier Bank maintains some shortage of manpower by doing some work. Those are given below: Offer incentives to postpone retirement: Skill person are always needed everywhere. In the situation of postponed retirement cases Premier Bank give some extra incentives to the aged & skill employee & try to stay with Premier Bank. Another thing is Premier Bank offer those employees some extra incentives for their work. These incentives are determine by negotiation between the employee & Premier Bank. Rehire Retires Part-time: In the bargaining situation of higher level Premier Bank follow rehire retires part-time strategy. In this shortage strategy Premier Bank rehire their retire employee to fulfill the higher level post. So they offer those retire skilled employees to work as a part-timer with some incentives. Attempt to reduce turn over: To reduce turn over, Premier Bank follows some strategy like they offer some occasional incentives, High security, handsome salary, Transport Facility & Favorable environment etc. By this way they try to reduce the turn over rate of Premier Bank. Work Current staff over time: In the shortage manpower cases, Premier Bank offers their employees to do overtime to finish the goal of the month. For this reason they offer high incentives to their employees. Hire temporary employees: To fulfill the goal of bank, Premier bank hire some temporary employees in different cases. But the rate of hire temporary employees is not so high. For the occasional cases they recruit those employees to perform some particular work. Strategies for managing surplus of manpower: In Surplus cases Premier Bank tries to reduce their employees & try to turn their bank on break-even point. So they follow strategies for managing surplus of manpower. In this situation they maintain these strategies: Do replace those who leave: When the surplus situation comes forward, the employees get unprovoked. So the turnover rates increase. At this situation Premier Bank does replace their employees from the lower section for that post & they don’t hire anyone for that post. Reduce work hour: Into the surplus situation Premier Bank reduce the work because in this situation they have not ability to give overtime to their employees. Offer early retirement incentives: In Premier Bank, when the surplus situation comes they try to find out those employees whose retirement is very close to near. After findings of those employees, they offer them to give up the job before the retirement time & give high incentives to give up the job. Employee training: Trainings are very important for the employees but in the surplus situation Premier Bank reduce the training session because it’s reduce the cost & can be harmful for the Bank. Hiring freezes: In critical situation, Premier Bank Freeze the hiring process & try to maintain it before they manage the surplus of manpower. Premier Bank follows this freeze system not only for the increase of value of Bank but also for overcoming the surplus of manpower.