In the first paragraph brief description of beginning of Trust Financial Services PLC and its expansion, downfall and subsequent hand over of management to professionals.
In the next section under the heading Research nature of the research conducted and its findings.
Under the heading first three months action plan immediate remedial actions are given for the Company
Next is important facts for organization to make success in business activities and facts for overall progress of the organization.
Under the heading suggestions, proposals for the management for the smooth functioning and progress of the organization.
In conclusion of the work, recommendations are inserted for the consideration of management of Trust Financial Services PLC.
It would not have been possible without the kind support and help of many individuals and organizations to complete this report. I would like to extend my sincere thanks to all of them. I regret my inability to mention all of their names.
I am highly indebted to my Lecturer Mr.………….. for his guidance and constant supervision as well as for providing necessary information in completing the report.
I would like to express my gratitude towards my parents for their encouragement which helped me in completion of this report.
I would like to express my special gratitude and thanks to industry persons for giving me such attention and time.
I took initiative to collect information on overall functions of the Trust Financial Services PLC. In this regard I referred to company literature; information company advertisement etc. further information was collected through interviews. I prepared questionnaires and evaluated present situation of the Company and its shortcomings. I discussed the issues with the higher management as well as executives and other staff. With all these efforts I was able to conclude this report with recommendations to the professional management of Trust Financial Services PLC.
Trust Financial Services PLC (Hereinafter referred to as HFS) has established in the Central Province in the year 1995. Subsequently it had spread its wings to other parts of the country and expanded its business activities. In 90’s Trust Financial Service had become a leading financial company in Sri Lanka.
At present it has a total number of 460 employees. When the company performance has come to mediocre level decision has been taken to hand over the company to professional management.
In this research conducted on overall performance of HFS it was uncovered following weaknesses and setbacks of HFS.
During the first three months period as Head of the Human Resources Depart following action plan is suggested and forward for the approval of the management.
In the above management practices and strategies put into practice there is no doubt again HFS can be taken off the ground.
Following facts are important to any organization to make success in business activities and as such necessary steps to be taken to improve them in Oder for overall progress of the organization.
Following suggestion for the smooth functioning of HFS and progress of the organization is forwarded for the approval of the management in order to implement them.
It is necessary to plan an evaluation system for employees at HFS. Following information of the employees must be collected in order to have a computer database.
It is required to prepare an another Computer Database for the new recruitment for the organization with potential applicants details and keep in record of all eligible applicants in order to appoint them as when need arises without any obstacle to the smooth functioning of the company.
With in mind future expansion and growth at HFS progress is required in the following areas;
For the Progress of HFS it is necessary to increase productivity of employees and as such there is important role to play by the Human Resources Department of any organization to increase the overall productivity and efficiency of employees.
Human Resources Management strategies are required to keep employees enthusiastic, motivated and accomplishment of such practices has pivotal importance in order to provide professional and quality services to customers.
It can be summarized following aspect as the objective of this exercise;
At present responsibilities and duties of Human Resources Department is also changing like any other scenario. Human Resources Mangers responsibility in the gone era was preparing policies of the management etc. Human Resources department was earlier named as Personnel Department but today it has been changed. At present Personnel Department is replaced with the Human Resources Department. Personnel Manager is replaced with the Human Resources Manager and human resources strategies have also been changed. In any organization human resources are the most important aspect and today in some organizations employees are referred as associates.
Like everything else functions and responsibilities of Human Resources Department has changed and today functions such has recruiting, paying employees not the only responsibilities. Today it is vital to motivate and inspire employees in order to meet the Company targets. Flourishing organizations are becoming more flexible, quick to change direction, and change it according to the market conditions and customer likes and tastes.
The objective of Human Resources Department to make stronger bonds of employees with the management. In order to achieve this objective it is required to consider following areas.
Human Resources Department has to presume itself as a strategic partner to assure that viability and ability to contribute to the organization. In this manner Human resources Department can contribute to the smooth functioning and develpment of the organization and accomplishment of company strategy and objectives.
In this regard Human resources Department has to be strategic and conversant with the work system in which people can be succeeded and contributed. In this strategic atmophere human resources functions such as recruiting right candidates, motivating employees performance, evaluation of employees, career planning and growth of employees are required.
Today Human Resources Department Employees have to think like businessmen and should know accounting and finance and they are always responsible and accountable, prepare strategies to reduce cost and plan all human resource development programs.
Human Resources Department plays and pivotal role in any organization and for the success and progress of the organization it is the responsibility of the human resources department to create an organization with excellent working environment and motivate employees to contribute with increased productivity.
Further Human Resources Department to assists to establish the company’s culture and climate in which employees have the concern and commitment to exceed the expectations of customers who are the most import persons in any organization.. Fostering effective systems and keeping targets, working for deadlines, empowerment though responsibility are some of the functions of Human resources Department.
It is also the function of Human Resources Department to search and find employee growth opportunities, assistance programs planning, profit sharing strategies, development of the company process approaches and solving employees’ frustration problems etc.
The continuous evaluation of the efficiency of the organization results in the need for the HR department to regularly change. Both knowledge about and the ability to execute successful management strategies make the human resource professional remarkably cherished.
It is the duty of the Human Resources Department to continuously reviving efficiency and effectiveness of HR functions and changes are made accordingly and adjust work practices. In order to encourage overall success of the company it has to identify the shortcomings, setbacks and prepare action plans accordingly.
It depends of surviving and progressing of any company on employees performance and this is the truth even for mere survival in today’s market conditions. It is vital to motivate existing employees and recruit the best.
Under these circumstances following can be identified as necessary to enhance and increase the full productivity of employees.
16 Energy Levels
it is well known fact that young employees of the organization has high energy and when employees are becoming old they are more lethargic and decrease their energy levels. As such, it is noticeable relationship between life satisfaction and job satisfaction and people who are satisfied with life have more energy than others to function in their duties.
Another aspect of this is when employees are on debt and they have financial difficulties , family problems children’s problems etc their functioning is affected and it is necessary for the Human Resources department to find solutions for their personal problems also to a certain extent in order to keep employees satisfied and increasing energy levels.
In conclusion of this work it is discovered that job satisfaction of HFS employees are depended on different factors. If these factors are positively addressed positive results can be expected and progress of the company can be achieved.
It is required to enhance productivity and employee performance through job satisfaction. Following suggestion are inserted here for the kind consideration of the management.
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