Performance Management System of Banglalink Essay Example for Free

Performance Management System of Banglalink Essay The mark an employee receives in his/her evaluation plays a very important role in his/her chances of promotion. Banglalink uses the Performance Review form which is generally termed as â€Å"Adjective Checklist† The Performance Review forms are sent to all the people who act as supervisors of a certain number of employees. The supervisors are instructed to evaluate their subordinates They are specifically instructed to evaluate the job performance of the employee; and not to evaluate the employee himself or herself as a person. The supervisor fills out the form himself During his evaluation, he may consult with the employee if the supervisor has any remarks; he puts them on the form also. After all these are completed, he assigns marks on the rating. The marks are specified on the form. After the supervisor completes his evaluation, his section head reviews the form If he has other thoughts about the person evaluated, he then consults both the supervisor and the subordinate, whose performance was evaluated, and then clarifies the matter. He then gives his own remarks. Then the form is sent to the Departmental Head, who gives the final acknowledgement when he assesses that everything is in order. Thus all the filled out forms are gathered and sent to the Banglalink head-office, where these forms are sorted and arranged Then the top management reviews these forms. They evaluate the markings received. Then they can make a certain judgments on the employees abilities and performance The present position of the employee and his current salary along with the marks and recommendations he received are combined to make a matrix With this matrix, the employees increment is calculated. [pic] Appraisal Feedback After the evaluation has been done, the top management makes their decisions nd forms future plans Where the evaluation results are not satisfactory, the top management asks for more information After getting the information, they sit with the Departmental Head of the employee under scrutiny and then they proceed to assess the situation. Later they discuss the situation with the rater and the employee he rated and then they make their decision. When the evaluation results are pos itive and the top management has made their decisions about the employees increments or promotion, the employees are given the information in an informal manner. Thus, they are assured of the assessment that has been made of them. In this way they are kept motivated. 3. Research Methodology Type of Research The project falls in the category of exploratory and descriptive research, i. e, a research designed to evaluate the Performance Appraisal of Banglalink. This applies to the research part. Prior to that, the organizational part is helpful for the clear understanding of the existing position of Banglalink and also serves the purpose of the exploratory. Besides, a limited scale of causal research has been also included to examine the cause and effect relationship among variables. Basic Research Method The basic research method in this theoretical Knowledge, field survey and practical orientation. In that the annual report and websites were the major source of secondary data. Besides, the discussion with the concerned managers/employees (Primary data) yielded the additional information to fill up the gaps and helped in clear understanding. Sources and Method of data collection To carry out the research study, data has been collected both from primary and secondary sources Primary Data Primary data have been collected as follows Structured Questionnaire Keeping the problem statement in view, a number of questions in the form of checklist had been formulated. The checklist had been the main tool for relevant question to the primary data sources to formulated the operational definition of the problem statement and precisely find out the area of study. Questionnaire were developed incorporating mixed type of questions. One type of questionnaire for the managers at Banglalink and the other type is for employees. Some questions were common for all while some questions were exclusive for either group. Questionnaires were designed in such a way so that all-important elements of the performance appraisal system can be covered by it. After questionnaire formulation, an exhaustive and deliberate discussion was conducted and necessary adjustments were made. Pretest for screening of the questionnaire has been carried out. After pretest, the final questionnaire has been prepared.

Capital Punishment Essay - Death Penalty Needed :: Argumentative Persuasive Essays

Death Penalty Needed to Protect Society The death penalty is an issue that will continue to be debated over for many years to come. Some believe the death penalty should be abolished while others believe the death penalty should remain an option. Although there are things I would change dealing with the death penalty, I do not think it should be completely abolished. The death penalty should be administered to those who commit heinous crimes, whether it involves murder or not (Lopez, Camilla p.1). One can look at judicial history and tell that just because someone is sentenced to the death penalty does not mean it actually happens. People have become so liberal that they are willing to give everyone a second chance. People want to give the man who raped and murdered ten women in a matter of days the same second chance as the little boy who stole a candy bar from the grocery store . It might just be me, but I see a huge difference in the effect of those crimes on the rest of the population. Women are not going to live in fear about going to the grocery store because a little boy stole a candy bar, but they are going to think twice about going shopping by themselves at night when they've heard that a serial rapist and murderer is among them. I think all crimes should have an equal punishment, but I do not necessarily believe in the eye for an eye way of thinking. Remorse can so easily be faked which is why, I think, punishments and sentences have been lightened over the years. There are many cases and points that opponents to the death penalty bring up, but there are also several good points that pro-death penalty believers argue. Opponents of capital punishment believe the death penalty is not beneficial, but "we execute those who commit these atrocious crimes so that they do not have the chance to kill again" (Lopez, p.1). Heinous crimes seem to be no big deal and no shocking occurrence, like they used to be, which makes me very sad. The headlines are covered with people who have committed terrible crimes and sit on television laughing about what they've done, knowing they're not going to receive the death penalty for their crime. The government and the judicial system has now become a joke to people just as jail houses have become jokes to people living in them.

Minimum wages

Many economic theories have been proposed to discuss the impact of minimum wages on labor market. The proceedings of the labor market is based on the exchange of resources between the employee and employer, the employee receive wages in return for their labor services to the employer. Labor market is considered to be most competitive market, where the established market price is much closer to the value of the product. Therefore, the employee is likely to receive marginal value, in the competitive market (excluding the factor of minimum wage). Therefore minimum wage laws have been introduced which foresee crisis of unemployment, if fewer employers are interested to hire labor, where as more people are willing to offer their services. Therefore, the law intends to maintain the equilibrium, to avoid social and economic turmoil. The amount of labor supplied by the workers is directly proportional to the nominal wage, a certain increase in the wage, forecast increase in the labor supply. The observation is based on the assumption that an employee hired at a low wage will prefer to consume ‘leisure and forego wages', a slight increase in the nominal range, it becomes difficult to practice leisure and avoid labor, therefore there is an increase in the number of workers wiling to offer labor. The relationship between the labor supplied and nominal wage is function of different variables including price. A substantial increase in the price level will reduce the number of workers, at all wages (Wascher, 1995). LABOR MARKET AND WAGES There exists an inverse relationship between the nominal wage, and the ‘amount of labor demanded by the organizations'. A substantial increase in the wages is likely to compel the organizations to reduce recruitment schemes. The relationship has been derived on the basis of an assumption that the organization prefers saving for increased proportion of profitability i.e. such level of production is aimed by the organization which increases the profit i.e. the difference between expenses and revenue. The revenue is based on the price of an item, and quantity of the items sold (Christopher, 2005). The expanses include the amount of wages, which is based on the labor and services. Therefore, the company will prefer to maintain a minimum threshold level to secure profit, on the basis of reduction in the wages, as more workers are employed, the labor wage increases which turn the organization less profitable. The price factor may compel the organizations to recruit the employees for all wage levels. minimum wages AND LABOR MARKET: IMPLICATIONS It has been predicted that minimum wage laws are expected to increase unemployment, if minimum wage is established above equilibrium wage. It is because, a large number of employees will be interested in offering their services in exchange for higher wages, on contrary on small and limited number of such opportunities will be available. Also, the organizations will be careful about the recruitment scheme, and ensure that only well qualified people are hired on high wages, therefore there is expected to be little scope for the least skilled and inexperienced employees, thus within the labor market the unemployment level will increase (Kane, 2007). Another factor which has the potential to deteriorate the condition and extend the unemployment crisis is monopsony within the labor market. If the employer has the authority to determine the wages for the employees, it is expected that the unemployment rate will diminish because minimum wage may boost employment. The equilibrium between the labor demand and labor supply will exist only at a point when applied wage is equal to the requirements of the labor and organizations. Wages are more than the equilibrium wage, will result in unemployment i.e. the excess supply of labor. ‘Using the matching function formulation along with Nash bargaining between workers and firms, the results of Hosios inform us that an efficient labor market equilibrium requires that the elasticity of the matching function with respect to the size of the set of searchers be equal to the share of the surplus they receive’ (Kane, 2007). CONCERNS: MINIMUM WAGE It is important to understand that minimum wage is a practice control factor applicable on the labor, which can be regarded as the captivity of the economic rights of the low-paid labors, and their prospects. The increased minimum wage limit is expected to reduce America's labor freedom index to 87 percent. In the case of free market economy, the maximum utilization of the land, information, capital goods, and labors achieved through price allocation. If the prices are kept free floating, the market is considered to be real free in launch of its economic policies and business plans, which have an impact on the labor market, and the fixture of minimum wage. ‘Estimates of the bargaining power parameter, although significantly lesser than a   percent, are significantly larger than estimates of the match function elasticity and as a result yield an optimal minimum wage rate less than the then current value of $4.25’ (Swinnerton, 1996). Considering the example of an organization, the organization has the right to increase its wages to capture the attention of the labor for the employment. Wages are considered to be suitable indication to discuss the expansion of business activities, and direct employment. ‘Freely floating prices allocate resources efficiently to places where they will take root and boost economic productivity' (Christopher, 2005). Price signals have been disturbed and distorted through implementations of labor regulations, which hamper market mechanism, and restrict economic freedom of employers and employees. Minimum wage is considered to have significant impact on economic freedom, the labor supply and demand mechanism undergo disruption due to the allocation of government specified minimum wages (Card, 1995). If the situation is not existent, the minimum wage can be regarded as ‘crude instrument' which relocate the labor market towards efficient allocation. ‘The labor market is not excused from the basic economic principle that artificially high prices cause lower demand'. The National Bureau of Economic Research observed that many analysts were of the opinion that minimum wages have negative impact on the labor market, ‘almost all point to negative employment effects’. More specifically, the study also revealed that there is, ‘relatively overwhelming evidence of stronger unemployment’ impacts on less experienced workers (Swinnerton, 1996). In the case on United States, the proposed federal minimum wage has been avoided by the Congress for more than a decade. The reviewed limit for the minimum wage is expected to raise to $7.25, however analyst are of the opinion that labor market can be served well through expansion of the Earned Income Tax Credit (or EITC, a substantial wage subsidy for low-income workers). According to 2007 Index, more than 90% of the US labor market is considered independent, and the imposition of the minimum wage will not only hamper the status of the labor market, but will reduce the labor freedom factor. IMPLICATIONS The proper approach for ensuring better income for group of workers can be achieved through imposition of minimum wage. The entrance to Labor Market can be achieved through implementation of minimum wage, and this is likely to benefit least qualified individuals. ‘Labor market flexibility refers to the ease with which workers and employers can negotiate mutually advantageous labor contracts' (Nathalie, 2006). However the implementation of minimum wage has been discouraged by economist, most of the economists are of the opinion that higher minimum wage has failed to achieved the primarily goal of poverty reduction, and is responsible for unemployment. According to a survey by Canadian authorities, 10% increase in the minimum wage was responsible for the direct unemployment of Canadian teenagers by 2.5%. In this context the labor laws play fundamental role, to counter such flaws. Researchers have concluded that, the scheme of tightening of laws about labor relations is responsible for the unemployment. It has been warned that implementation of rigid laws for the minimum wage barrier will affect the performance of the organizations. It is believed that organizations will opt for recruitment of smaller staff, and sought the replacement of workers with machines, and diminishes the performance premiums and other perks, or move switch over their operations ands move to other part. EFFECTS AND ALTERNATIVE (TAX CREDIT) The increase in the level of minimum wage is considered to be blockade for the reformed economic policies of any country; furthermore it disrupts international competitiveness, labor freedom. Labor freedom, like property rights and business freedom, a detailed study report issued by The Heritage Foundation and The Wall Street Journal have concluded that, all these factors are considered to be important parameters for the evaluation of country's overall economic freedom as measured by the Index of Economic Freedom (Kane, 2007). The labor market should be based on labor freedom to strengthen the scope of economic activities that correlates the ability of workers and businesses to interact without any surveillance or official restrictions by the government. The minimum wage is although considered to be an important measure for supporting the poor and less skilled worker, but such conditions affect the business activity and shatter the economic plans of the organizations, and consequently the labor market is affected (Wascher, 1995). ‘The minimum wage disrupts the natural interaction of supply and demand and leads to inefficient allocations of labor and, eventually, increased unemployment', on contrary the government discourage the practice of competitiveness, and transform it into level economic battlefield, with restricted scope of advents (Swinnerton, 1996). The sole objective of minimum wage is to provide higher income to low earners, but to avoid the negative fallout of labor market, the execution of such policy should be avoided, and therefore policies based on negative income tax or earned income tax credit should be introduced to favor the low wage earners. Such methodology is considered to be economic efficient. The classical analysis of minimum wage support the idea that higher wage earners should help the low earners, the restriction of higher minimum wage is likely to affect the services and jobs of the low wage earners, therefore the labor market can be strengthen by providing sufficient incentives to ‘ low wage workers at the expense of other low wage workers and businesses employing low wage workers' (Card, 1995). The alternative scheme of negative income tax or earned income tax credit support the low earners, and it is the over all society that incurs the cost, and this further stabilizes the labor market. The scheme is considered to be economically viable, ‘because, a low tax rate on the broader economy causes less deadweight loss than a high tax rate on a small section of the economy' (Wascher, 1995). It has been reported that the approved EITC has increased the level of earnings by 40 percent; the proposed $7.25 of minimum wage after taxes for a full-time worker is expected to double the EITC. It is expected that minimum wage and tax credit scheme will rekindle the hope of low earners, and re-link them directly to the benefits of growing economy. REFERENCES Tim Kane, Ph.D. and Anthony B. Kim. A Higher Minimum Wage Equals Less Economic Freedom. 2007. Prentice Hall. pp. 125 Neumark, D. and W. Wascher. Minimum-Wage Effects on School and Work Transitions of Teenagers. American Economic Review 85. 1995. pp. 244-249. Card, D. and A. Krueger. Myth and Measurement: The New Economics of the Minimum Wage. Princeton: Princeton University Press. 1995. Swinnerton, K. Minimum Wages in an Equilibrium Search Model with Diminishing Returns to Labor in Production. Journal of Labor Economics 14. 1996. pp. 340-355. Christopher J. Flinn. Minimum Wage Effects on Labor Market Outcomes under Search, Matching, and Endogenous Contact Rates. New York University Publications. 2005. pp. 45 Nathalie Elgrably. The Minimum Wage and Labor Market flexibility. December 2006.Montreal Economic Institute Publications.      

Horatio Algers Ragged Dick Essay - 1012 Words

In Horatio Alger’s Ragged Dick, Alger writes about a rag-to-riches story and points out valid and key messages that tell of things like hard work and determination can take anyone from the bottom to the top, despite one’s economic class. I do realize that in real life that although these messages hold key to making it in the world, everyone does not have the equal opportunity to succeed or move up in class rankings like Alger says. Dick, the main character in Ragged Dick, is a man that fits every trait Alger describes in the story. He is a man who has a mediocre job, and is a very hard worker. Throughout the story, signs show us that Dick is a man who has ambition and is very determined to one day get away from his poor†¦show more content†¦Situations like these create problems and make it hard for all people to move up in society, which is something that Alger does not point out. For years, many people continue to work hard in order to one day to reach the upper class. However, for most of us making high amounts of six figures or better is really a dream and never shapes into reality. Writer Gregory Mantsios in his article â€Å"Class in America†, talks about these things, and how wide the gap is between the rich and the poor and also discusses how the rich continue to get richer, while the poor continue to get poorer. Mantsios gives his readers the profiles and backgrounds of three hard-working Americans, two of them are white males, whose family background as well as education played a role in their success, while the other person is a black woman who is just above the poverty line despite her work as a nurse’s aide. Through these profiles, Mantsios article shows exactly how sex, race and shows how your parental and educational background of a person can play a role in the things that you achieve. Mantsios also talks about one’s performance in school and the level of school completed can suggest whether or not class that person may belong in. Mantsios gives his readers great evidence and details that not only show class distinctions in our society, but how the chances to move up from the poor to wealthy is one in aShow MoreRelated Comparing Success in Horatio Algers Ragged Dick and the Life of Colin Powell1062 Words   |  5 PagesSuccess in Horatio Algers Ragged Dick and the Life of Colin Powell What does success mean to you? I think the idea of success is affected by the social system. In America and Hong Kong, which are capitalistic societies affected by the American Dream, success means money and fame. In other societies, success might have different meanings. 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