Role of compensation practices on employees’ motivation: A study on Prime Bank Limited

“Role of compensation practices on employees’ motivation: A study on Prime Bank Limited”
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LEADING
A promise to lead
Role of compensation practices on employees’
A study on Prime Bank Limited
Masum Hussain
Page 1
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EADING UNIVERSITY
A promise to lead
nsation practices on employees’ motivation
Masum Hussain
NIVERSITY
2016
motivation

“Role of compensation prac
Department of Business Administration
Major:
Date of Submission: 06 February, 2016
Page 2
An Internship report on
“Role of compensation practices on employees’ motivation:
A study on Prime Bank Limited”
Course title: Internship
Course code: BUS-499
Submitted to
Leading University, Sylhet
Supervised by
Mr.Mr.Mr.Mr. Md. Shamimul IslamMd. Shamimul IslamMd. Shamimul IslamMd. Shamimul Islam
Senior Lecturer
Prepared by:
Masum HussainMasum HussainMasum HussainMasum Hussain
ID: 1201010202
Program BBA (30th
Batch)
Major: Human Resource Management
tices on employees’ motivation:

06 February, 2016
To
Mr. Md. Shamimul Islam
Senior Lecturer,
Subject: Submission of Internship Report
Dear Sir,
With best regard, I am submitting my Internship Report on
employees’ motivation: A study on Prime Bank Limited
important requisite of BBA program. I have tried my level best to prepare an effective,
informative and creditable report. I hope my contribution will be best evaluated on your sharp
scale of acceptance and analytical remarks.
I would like to express my gratitude for your supp
making this report. At each stage, I have given my best efforts in preparing this report. There is
no doubt that this experience enriches my knowledge in a greater degree. I hope you will find the
report worthy enough. I welcome all your queries and take pride to answer them.
Thanking You
Sincerely yours,
………………............
Masum Hussain
ID: 1201010202
Program BBA (30th
Batch)
Page 3
Letter of Transmittal
Subject: Submission of Internship Report.
With best regard, I am submitting my Internship Report on “Role of compensation practices on
: A study on Prime Bank Limited” that you have assigned to me as an
f BBA program. I have tried my level best to prepare an effective,
scale of acceptance and analytical remarks.
I would like to express my gratitude for your supportive thoughts and kind consideration in
ugh. I welcome all your queries and take pride to answer them.
“Role of compensation practices on
that you have assigned to me as an
f BBA program. I have tried my level best to prepare an effective,
ortive thoughts and kind consideration in
ugh. I welcome all your queries and take pride to answer them.

I am pleased to declare that,
Business Administration, Leading University, Sylhet, has been given with the internship topic
titled “Role of compensation prac
Limited” for researching and writing an internship report on the subject. His work is quite
satisfactory and I am glad to affirm that the entire report work has been conducted under my
direct and active supervision.
Now I am convinced to permit him to defend the same before the respective panel of judges.
I also hope that the internship report is an original one and has not been submitted elsewhere
previously for publication in any form. He is sincere,
report work will contribute to his career.
I wish him all the success in life.
___________________
Mr. Md. Shamimul Islam
Senior Lecturer
Page 4
Letter of Acceptance
I am pleased to declare that, Masum Hussain, bearing ID No: 1201010202
“Role of compensation practices on employees’ motivation: A study
for researching and writing an internship report on the subject. His work is quite
previously for publication in any form. He is sincere, honest and hard working. I hope that this
report work will contribute to his career.
I wish him all the success in life.
ID No: 1201010202, Department of
A study on Prime Bank
for researching and writing an internship report on the subject. His work is quite
honest and hard working. I hope that this

Though the internship program has to be done individually in a sense of completion of
the credit hour but it is quite impossible to do
of some individuals. It is a very great and unique
some individuals for their help and encouragement to make the internship successful.
At first I would like to express my gratitude to almighty
beautiful country like Banglades
requirements for the degree.
internship report “Role of compensation practices on employee’s motivation
Prime Bank Limited”. I am also grateful to my
and providing me with the basic necessities of my life since my birth.
With due respect, I would like to thank to the
Tofayel Ahmed.
I extend my most sincere gratitude to my academic supervisor
Islam, Senior Lecturer, Department of Business Administration. I am deeply indebted to his
whole hearted supervision to me during the Internship Period. His valuable suggestions &
guideline helped me a lot to prepare the report in a well
I would like to express my special thanks to
Branch, Amberkhana Branch Prime Bank Limited, for the constant guidance he provided me in
every need of mine throughout my whole internship period. He has been extremely kind to lend
me his valuable time whenever I needed. I would also like to thank the officers and senior
officers for helping me to learn about banking activities, and adjusting myself in a corporate
environment. They also provided me valuable information, guideline which helped me a lot to
prepare this report.
Besides, I am also grateful to the others, researchers, writers whose books, articles, thesis
papers, and journal that have helped me to prepa
At last but not the least, without the help of
was quite impossible for me
information about this topic which wa
them.
Page 5
Acknowledgement
the credit hour but it is quite impossible to do alone without the sincere and
of some individuals. It is a very great and unique pleasure to me that I have got a chance to thank
I would like to express my gratitude to almighty Allah for creating us in such a
beautiful country like Bangladesh with good health and tenacity of mind to complete the
requirements for the degree. For the mercy of Him, I have got such courage to start this
“Role of compensation practices on employee’s motivation
m also grateful to my parents and family members for supporting me
and providing me with the basic necessities of my life since my birth.
With due respect, I would like to thank to the Head of the Department,
incere gratitude to my academic supervisor
, Senior Lecturer, Department of Business Administration. I am deeply indebted to his
me a lot to prepare the report in a well-organized manner.
I would like to express my special thanks to Mr. Nazrul Islam, SAVP and Head of the
oughout my whole internship period. He has been extremely kind to lend
papers, and journal that have helped me to prepare my Internship report successfully.
At last but not the least, without the help of my friends, classmates
for me to prepare such kind of report. They gave me
information about this topic which was unknown to me. So, I would like to give thanks to all of
alone without the sincere and utmost cooperation
pleasure to me that I have got a chance to thank
for creating us in such a
with good health and tenacity of mind to complete the
have got such courage to start this
“Role of compensation practices on employee’s motivation: A study on
and family members for supporting me
Head of the Department, Professor Dr.
incere gratitude to my academic supervisor Mr. Md. Shamimul
, Senior Lecturer, Department of Business Administration. I am deeply indebted to his
organized manner.
, SAVP and Head of the
oughout my whole internship period. He has been extremely kind to lend
re my Internship report successfully.
classmates and senior brothers it
ve me some necessary
would like to give thanks to all of

Workforce today is more expressive about their needs. Employees desire the best of everything
competitive salaries, comfortable & inspirational lifestyles, job security, ca
options, work-life balance, and so on. Competition for talent is ever increasing and organizations
need to have well-defined philosophies and strategies to help them develop innovative ways of
tapping intrinsic motivation of employees by e
The objective of this study is to analyze the initiatives for
by Prime Bank Limited and recognize
historical evaluation of compensation practices
regard, two types of reward are identified, and they are intrinsic rew
Extensive research showed that reward can affect job satisfaction and thereby employee
performance. To retain efficient and experienced workforce in an organization is very crucial in
overall performance of an organization. Motivated employees can help make an organization
competitively more value added and profitable. The present study is a
major factors that motivate
recognition and motivation while working within an organization.
managers and policy makers in the context of hu
Limitations and guidelines for future research are also provided. More research is needed on the
relative cost-benefit of cash and gift incentives, and the way different types of tangible incentives
are selected. Long-term programs led to greater performance gains than shorter
did, and somewhat greater performance gains were realized for manual than for cognitive work.
Any theories about motivation can be contradicted
exceptions. It is important that these theories are considered general statements that have been
confirmed through observational studies and are applicable only to the extent that they reflect
and are influenced by individual behaviour. If we are searching
universally applicable, we may be wasting our time, but if our goal is to better understand human
behaviour and its impacts on personal performance, the insights gained from such theories and
studies are invaluable. The mos
Herzberg’s two-factor theory, and the different types of motivation. Each theory is related in the
fact that there are needs for all people to meet. Every employee is at a different stage in their
lives, which requires different management techniques. It is shown that motivation must come
from within the employee. The theories investigated will help describe how managers can
influence their employees to self motivate and produce the best work possib
specific types of motivation: financial and non
employees using financial means as well as non
The focus should be given on how managers are able to implement these type
motivation into their specific work place. This will show how motivation is important to all
industries, and how it can change and impact the amount sales a
employees will in turn create a successful
Page 6
Executive Summary
competitive salaries, comfortable & inspirational lifestyles, job security, ca
life balance, and so on. Competition for talent is ever increasing and organizations
defined philosophies and strategies to help them develop innovative ways of
tapping intrinsic motivation of employees by engaging their hearts and minds.
The objective of this study is to analyze the initiatives for compensation practices
by Prime Bank Limited and recognize compensation practices in it. Besides to find out the
compensation practices here is also another reason of the study.
regard, two types of reward are identified, and they are intrinsic reward and extrinsic reward.
research showed that reward can affect job satisfaction and thereby employee
competitively more value added and profitable. The present study is an attempt to find out the
employees and it tells about the relationship
on and motivation while working within an organization. Implications of the study for
managers and policy makers in the context of human resource practices have been discussed.
benefit of cash and gift incentives, and the way different types of tangible incentives
term programs led to greater performance gains than shorter
Any theories about motivation can be contradicted since these theories have many
and are influenced by individual behaviour. If we are searching for scientific evidence that is
The most important theories include: Maslow’s hierarchy of needs,
factor theory, and the different types of motivation. Each theory is related in the
influence their employees to self motivate and produce the best work possib
specific types of motivation: financial and non-financial. The employers can motivate their
employees using financial means as well as non-financial recognitions.
The focus should be given on how managers are able to implement these type
industries, and how it can change and impact the amount sales a bank
employees will in turn create a successful bank.
competitive salaries, comfortable & inspirational lifestyles, job security, career enhancement
life balance, and so on. Competition for talent is ever increasing and organizations
defined philosophies and strategies to help them develop innovative ways of
ngaging their hearts and minds.
compensation practices taken
in it. Besides to find out the
is also another reason of the study. In this
ard and extrinsic reward.
research showed that reward can affect job satisfaction and thereby employee
n attempt to find out the
the relationship among reward,
Implications of the study for
man resource practices have been discussed.
benefit of cash and gift incentives, and the way different types of tangible incentives
term programs led to greater performance gains than shorter-term programs
since these theories have many
for scientific evidence that is
t important theories include: Maslow’s hierarchy of needs,
factor theory, and the different types of motivation. Each theory is related in the
influence their employees to self motivate and produce the best work possible. There are two
financial. The employers can motivate their
The focus should be given on how managers are able to implement these types of
bank performs. Motivated

Subjects
Acknowledgement
Executive Summary
Chapter one (Introduction)
1. Introduction .....................................................
2. Background of the report
3. Statement of the Problem
4. Objectives of the report
5. Research design .................................................
6. Data Collection Method
a. Primary sources
b. Secondary sources
7. Sampling technique ..............................................................................
8. Scope of the study ..........................................................................................
9. Limitations of the study
Chapter two (An overview of Prime Bank Limited)
1. Introduction ..................................................................................
2. History of Prime Bank
3. Vision .......................................................................................
4. Mission ....................................................................................
5. Corporate Philosophy of Prime Bank Limited
6. Slogan ......................................................................................
7. Awards and Recognitions
8. Departments of Prime Bank Limited
9. Prime Bank at a Glance
10. Organizational structure of Prime Bank Ltd
11. Organogram of Prime Bank Limit
Chapter three (Internship experience at Prime Bank Limited)
1. My Experience in General Banking
2. My Experience in Card Division
3. My Experience in Credit Division
4. My Experience in Remittance section
Chapter four (Literature Review)
1. Introduction ...........................................................................
2. Definition of Terms ......................................................
Page 7
Table of contents
Acknowledgement
Executive Summary
Chapter one (Introduction) ...................................................................................
..................................................................................................................
Background of the report ..............................................................................................
the Problem .............................................................................................
Objectives of the report .................................................................................................
............................................................................................................
Data Collection Method ................................................................................................
Primary sources .....................................................................
Secondary sources .................................................................
..............................................................................
..........................................................................................
study .........................................................................................
o (An overview of Prime Bank Limited) ................................
...........................................................................................................
History of Prime Bank ..........................................................................
.......................................................................................................................
.....................................................................................................................
Corporate Philosophy of Prime Bank Limited ............................................................
..........................................................................................................................
wards and Recognitions ........................................................................
artments of Prime Bank Limited ..........................................................................
Glance ..........................................................................................
Organizational structure of Prime Bank Ltd .......................................
Organogram of Prime Bank Limited ....................................................................
(Internship experience at Prime Bank Limited) ...........
My Experience in General Banking ............................................................................
My Experience in Card Division ....................................................................................
My Experience in Credit Division .............................................................................
My Experience in Remittance section ...........................................................................
(Literature Review) ...................................................................
....................................................................................................
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pages
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3. Importance of incentives
4. Reward .....................................................................................
5. Types of rewards .........................................................................................
6. Length of Reward Program
7. Importance of a Reward System
8. Benefits .............................................................................
9. Types of Benefits ..........................................................................................
10. Equity-based compensation
11. Motivation .......................................................................
12. Significance of motivation in the workplace
13. Motivating by meeting basic human needs
14. Maslow's need hierarchy theory
15. Alderfer’s ERG theory
16. Three Components of Motivation
17. Procedural justice theory
18. Designing jobs that motivate
19. Job Enlargement: Doing More of the Same Kind of Work
20. Job Enrichment: Increasing Required Skills and Responsibilities
21. The job characteristics model
22. Suggestions for Enhancing the Motivating Potential of Jobs
23. Rewards and Incentives theories
24. The Carrot and Stick Approach to Motivation
25. Is money the best ‘carrot’?
26. Motivation-Hygiene Theory
27. Theory X of McGregor
28. Theory Y of McGregor
Chapter five (Compensation and motivation practices of
1. HR Principles of Prime Bank
2. Talent Resourcing, Learning and Development Culture
3. Open and Fair Evaluation System for Employees
4. Competitive Compensation Package
5. Performance Bonus ..................................................................................
6. 'We, not I' Culture ....................................................................................
7. Knowledge Sharing and Open House Discussions
8. Human Capital .......................................................................................
9. Compensations offered by Prime Bank Ltd. to the employees
a. Basic Salary .................................................................................
b. House Rent Allowance
c. Conveyance ....................................................................................
d. Leave travel allowance
e. Medical reimbursement
f. Staff loan facilities
g. Bonus ..................................................................................................................
Page 8
Importance of incentives ..............................................................................................
...................................................................................................................
.........................................................................................
th of Reward Program .........................................................................................
Importance of a Reward System ..............................................................................
..........................................................................................................
..........................................................................................
compensation ....................................................................................
.................................................................................................
Significance of motivation in the workplace ..........................................
Motivating by meeting basic human needs .........................................................
need hierarchy theory ..........................................................
Alderfer’s ERG theory ........................................................................
Three Components of Motivation ..............................................................
Procedural justice theory ..............................................................................
Designing jobs that motivate ........................................................................
Job Enlargement: Doing More of the Same Kind of Work ............................
Job Enrichment: Increasing Required Skills and Responsibilities ..................
The job characteristics model .....................................................................
Suggestions for Enhancing the Motivating Potential of Jobs ..................
Rewards and Incentives theories ...........................................................
The Carrot and Stick Approach to Motivation ......................................
‘carrot’? ......................................................................
Hygiene Theory ....................................................................
Theory X of McGregor ............................................................................
Theory Y of McGregor ...................................................................................
(Compensation and motivation practices of PBL) .......................
HR Principles of Prime Bank Limited ...................................................................
earning and Development Culture ...............................................
Open and Fair Evaluation System for Employees ................................................
Competitive Compensation Package .......................................................
..................................................................................
....................................................................................
Knowledge Sharing and Open House Discussions ..............................................
.......................................................................................
Compensations offered by Prime Bank Ltd. to the employees ..........
.................................................................................
House Rent Allowance ...................................................................................
....................................................................................
Leave travel allowance ...............................................................................
Medical reimbursement .......................................................................
facilities ..............................................................................................
..................................................................................................................
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h. Special allowance
10. Motivational facts on Prime Bank Ltd.
a) Ensuring horizontal and vertical caree
b) Succession planning
c) Comprehensive performance management program
d) Reward & recognition program
e) Grievances and counselling
f) Competitive compensation package
g) Ensuring a decent workplace
Chapter six (Data Analysis and findings)
Chapter seven (Recommendations and Conclusion)
Appendix
1. Bibliography
2. Questionnaire
3. Terms and acronyms
Page 9
Special allowance .........................................................................................
Motivational facts on Prime Bank Ltd. .................................................
Ensuring horizontal and vertical career growth ...............................
Succession planning ..............................................................................
Comprehensive performance management program .....................................
Reward & recognition program ......................................................................
Grievances and counselling ..................................................................................
Competitive compensation package .........................................................................
Ensuring a decent workplace ................................................................................
(Data Analysis and findings) .......................................
Chapter seven (Recommendations and Conclusion) .....................
................................................................................................ 46
.................................. 46
......................................................... 46
................................................................................................... 47
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............................................................ (49-63)
.......................................... (65-67)

Chapter
Page 10
Chapter One (Introduction)
1. Introduction
2. Background of the report
3. Statement of the Problem
4. Objectives of the report
5. Research design
6. Data Collection Method
a. Primary sources
b. Secondary sources
7. Sampling technique
8. Scope of the study
9. Limitations of the study
ne (Introduction)
Statement of the Problem

Introduction
An internship program is a very good approach to co
with the theoretical knowledge because it provides an
an organization with some specific objectives. As a result it bears great importance in case of
business graduates.
Workforce today is more articulate about their needs. Employees
everything competitive salaries, comfortable & inspirational lifestyles, job security, career
enhancement options, work-life balance, and so on. Competition for talent is ever increasing and
organizations need to have well
innovative ways of tapping intrinsic motivation of employees by engaging their hearts and
minds. While many organizations are struggling to make sufficient progress in this direction,
there are organizations that have institutionalized strong pr
different people practice areas that go a long way in positively impacting employee perception.
Most employers today would like to have their employee’s motivated and ready to work, but do
not understand what truly motiva
specifically an employee, to succeed in the workplace. I will examine different theories of
motivations, how they are relevant to the workplace, and how employers can implement the
theories to ensure happy and motivated employees.
Now, the main objective of my internship program was to evaluate the
compensation practices on employees’ motivation: A study on Prime Bank Limited
report is basically a result of experience in the
Background of the report
As a requirement of the completion of the graduation of Business Administration degree
under direct supervision of my internship report supervisor
assigned to do my internship at Prime Bank Limited Amberkhana Branch, Sylhet for a specified
period of 3 months from 21th September to 20th December, 2015.
opportunity for me to work in one of the reputed private commerci
Prime Bank Limited. During this period I had the opportunity to work in all sections of Prime
Bank Limited. This report is a formal documentation of this internship program.
Statement of the Problem
While compensation is argua
studied areas, doubts may arise on the effectiveness of compensation. While lack of it causes
dissatisfaction, its provision does not result in lasting motivation. The effects of compensation on
motivation vary from organization to organization. Most people are motivated by money at least
for their basic needs and wants. Employees’ motivation through compensation can be in several
forms including salary raises, performance bonuses, commissions, p
benefits such as vacations, cars and other tangible items that are used as rewards. These
compensation systems can be categorized as direct financial payment and indirect financial
Page 11
An internship program is a very good approach to co-relate the practical work experience
with the theoretical knowledge because it provides an individual the great opportunity to work in
Workforce today is more articulate about their needs. Employees
mpetitive salaries, comfortable & inspirational lifestyles, job security, career
life balance, and so on. Competition for talent is ever increasing and
organizations need to have well-defined philosophies and strategies to help th
there are organizations that have institutionalized strong practices and effective processes in
not understand what truly motivates a person. There are essential needs to be met for a person,
ensure happy and motivated employees.
Now, the main objective of my internship program was to evaluate the
compensation practices on employees’ motivation: A study on Prime Bank Limited
report is basically a result of experience in the compensation practices of Prime Bank Limited.
under direct supervision of my internship report supervisor Mr. Md. Shamimul Islam
21th September to 20th December, 2015. As an intern it was a great
opportunity for me to work in one of the reputed private commercial banks of Bangladesh, the
While compensation is arguably one of the key drivers of motivation and one of the most
forms including salary raises, performance bonuses, commissions, profit sharing and other extra
relate the practical work experience
individual the great opportunity to work in
Workforce today is more articulate about their needs. Employees desire the best of
mpetitive salaries, comfortable & inspirational lifestyles, job security, career
life balance, and so on. Competition for talent is ever increasing and
defined philosophies and strategies to help them develop
actices and effective processes in
tes a person. There are essential needs to be met for a person,
Now, the main objective of my internship program was to evaluate the Role of
compensation practices on employees’ motivation: A study on Prime Bank Limited and this
of Prime Bank Limited.
Mr. Md. Shamimul Islam I was
As an intern it was a great
al banks of Bangladesh, the
bly one of the key drivers of motivation and one of the most
rofit sharing and other extra

payments. In today’s work environment, there
need for empowered employees, decline in traditional incentives, rise of nontraditional
incentives and increased use of variable compensation. Studies have also shown that
compensation programs and the met
Objectives of the report
To analyze the initiatives of
recognize compensation practices
To find the most suitable
Finding out the historical evaluation of
To analyze the components of
To find out the weaknesses of the current
To suggest some guidelines to improve the current compensation practices that will
ideally improve the motivation of the employee
Research design:
The research is based on explanatory in terms of research type which has its primary
objective the provision of insights into and comprehension of the problem situation confronting
the researcher. This research process is flexible and unstructured. By doing explanatory research
it will be helpful to study about compensation practices in Prime Bank Limit
towards compensation practices taken by Prime Bank Limited.
Data Collection Method:
The objectivity of any study depends largely on how methodologically it is done. For the
purpose of this report I have used both qualitative and quantit
judgment opportunity.
a) Primary sources:
This report has prepared through the use of primary data. It is collected from a group of people
who are working in this bank. The following
i. Questionnaire
ii. Observation
iii. Frequent conversation with the officers of Prime Bank Limited
iv. Direct conversation with the manager and officers of Prime Bank Limited
b) Secondary sources:
i. Annual report of Prime Bank Limited, 2014
ii. Different publications of
iii. Internal records of the bank
iv. Reports published by Bangladesh Bank.
v. Some national & international journals about
vi. Relevant documents related to the study as provided by the officers.
Page 12
payments. In today’s work environment, there is more change and uncertainty; there is increased
compensation programs and the methods of administration affect employee’s motivation.
To analyze the initiatives of compensation practices taken by Prime Bank Limited and
compensation practices in it.
To find the most suitable compensation practices in the Prime Bank Limited.
Finding out the historical evaluation of compensation practices at Prime Bank Limited
To analyze the components of compensation practices & their effectiveness of P
To find out the weaknesses of the current compensation policy.
some guidelines to improve the current compensation practices that will
e the motivation of the employees’.
provision of insights into and comprehension of the problem situation confronting
it will be helpful to study about compensation practices in Prime Bank Limit
towards compensation practices taken by Prime Bank Limited.
purpose of this report I have used both qualitative and quantitative information to give it a clear
who are working in this bank. The following methods are used in collecting
Frequent conversation with the officers of Prime Bank Limited
Direct conversation with the manager and officers of Prime Bank Limited
Annual report of Prime Bank Limited, 2014
Different publications of Prime Bank Limited
Internal records of the bank
Reports published by Bangladesh Bank.
Some national & international journals about compensation practices
Relevant documents related to the study as provided by the officers.
is more change and uncertainty; there is increased
hods of administration affect employee’s motivation.
taken by Prime Bank Limited and
the Prime Bank Limited.
at Prime Bank Limited
& their effectiveness of PBL.
some guidelines to improve the current compensation practices that will
provision of insights into and comprehension of the problem situation confronting
it will be helpful to study about compensation practices in Prime Bank Limited and initiatives
ative information to give it a clear
methods are used in collecting data. These are:
Direct conversation with the manager and officers of Prime Bank Limited
compensation practices
Relevant documents related to the study as provided by the officers.

Sampling technique:
a) Elements: Branch Manager, Executives and Officers of Prime Bank Limited
Amberkhana branch, Executives of PBL Head Office
b) Sampling size: Sample size of this study is 20 officers including branch manager,
executives and officers of Prime Bank Limited Amberkhana branch.
c) Sampling method: I have taken Convenience sampling method. Convenience sampling
means- A nonprobability sampling technique that attempts to obtain a sample of
convenient elements. The selection of sampling units is left primarily to the interviewer.
It can be used where the respondents and the interviewees are considered on my
convenience and priority.
d) Data collection period
20th December, 2015. The study covers
e) Techniques of analysis:
Excel.
f) Data Presentation: I have used graph, chart, table and diagram to analyze the data.
g) Data collection area:
branch.
Scope of the study:
This internship program gives me a great opportunity for gathering experience and
knowledge in several areas of banking by which I can evaluate or expose myself. The scope of
this report is mostly limited to Prime Bank Limited
observations. For the purpose of my internship program I was assigned at Prime Bank Limited,
Amberkhana Branch. I have worked as a service intern and try to resolve customer’s problem.
Also I worked in different depart
activities within these three months.
Limitations of the study:
For the purpose of acquiring data to prepare this report I faced some constraints that are listed
below:
i. Because of time and cost
bank was a difficult task within the time allowed for the internship program.
ii. Another limitation of this report is the bank’s policy of not disclosing some data and
information, which would hav
updated information was not published or available.
iii. Preparing a formal document like an internship report requires some prior experience in
this field. I have tried my level best to reduce the distorti
that I have used in this report.
iv. The personnel of the bank are usually busy with their daily activities and routine tasks,
therefore interacting with them during their office hours is difficult sometimes.
Page 13
anch Manager, Executives and Officers of Prime Bank Limited
Amberkhana branch, Executives of PBL Head Office.
Sample size of this study is 20 officers including branch manager,
I have taken Convenience sampling method. Convenience sampling
A nonprobability sampling technique that attempts to obtain a sample of
n be used where the respondents and the interviewees are considered on my
convenience and priority.
Data collection period: The necessary data have been collected from 21th September to
20th December, 2015. The study covers compensation practices in
echniques of analysis: The data have been tabulated and analyzed with the help of
I have used graph, chart, table and diagram to analyze the data.
Data collection area: Data have been collected from Prime Bank Limited Amberkhan
this report is mostly limited to Prime Bank Limited, as the report is based on practical
Also I worked in different department of the bank. But it was not possible to learn all job
activities within these three months.
Because of time and cost constraints, covering the entire compensation practices of the
Another limitation of this report is the bank’s policy of not disclosing some data and
information, which would have been very much useful for the report. In many cases,
updated information was not published or available.
Preparing a formal document like an internship report requires some prior experience in
this field. I have tried my level best to reduce the distortion or biasness of information
that I have used in this report.
The personnel of the bank are usually busy with their daily activities and routine tasks,
anch Manager, Executives and Officers of Prime Bank Limited
Sample size of this study is 20 officers including branch manager,
I have taken Convenience sampling method. Convenience sampling
A nonprobability sampling technique that attempts to obtain a sample of
n be used where the respondents and the interviewees are considered on my
: The necessary data have been collected from 21th September to
in PBL.
The data have been tabulated and analyzed with the help of MS
I have used graph, chart, table and diagram to analyze the data.
Data have been collected from Prime Bank Limited Amberkhana
, as the report is based on practical
ment of the bank. But it was not possible to learn all job
constraints, covering the entire compensation practices of the
Another limitation of this report is the bank’s policy of not disclosing some data and
e been very much useful for the report. In many cases,
Preparing a formal document like an internship report requires some prior experience in
on or biasness of information
The personnel of the bank are usually busy with their daily activities and routine tasks,

(An overview of Prime Bank Limited)
1. Introduction
2. History of Prime Bank
3. Vision
4. Mission
5. Corporate Philosophy of Prime Bank Limited
6. Slogan
7. Awards and Recognitions
8. Departments of Prime Bank Limited
9. Prime Bank at a Glance
10. Organizational structure of Prime
11. Organogram of Prime Bank Limited
Page 14
Chapter Two
overview of Prime Bank Limited)
Introduction
History of Prime Bank
Mission
Corporate Philosophy of Prime Bank Limited
Awards and Recognitions
Departments of Prime Bank Limited
Prime Bank at a Glance
Organizational structure of Prime
Organogram of Prime Bank Limited
overview of Prime Bank Limited)
Organizational structure of Prime Bank Ltd
Organogram of Prime Bank Limited

Introduction:
In the backdrop of economic liberalization and financial sector reforms, a group of highly
successful local entrepreneurs visualized an idea of introducing a commercial bank with different
outlook. For them, it was competence, excellence and consistent del
superior value products. Accordingly, Prime Bank was created and commencement of business
started on 17th April 1995.
As a fully licensed commercial bank, Prime Bank is being managed by a highly
professional and dedicated te
understanding and anticipating customer needs. As the banking scenario undergoes changes so is
the bank and it repositions itself in the changed market condition. Prime Bank has already made
significant progress within a very short period of its existence. The bank has been graded as a top
class bank in the country through internationally accepted CAMELS rating. The bank has
already occupied an enviable position among its competitors after achievi
of business operation.
Prime Bank offers all kinds of commercial corporate and personal banking services
covering all segments of society within the framework of banking
regulations laid down by central bank.
Banking, Retail Banking and Consumer Banking right from industry to agriculture, and real state
to software. Prime Bank, since its beginning has attached more importance in technology
integration. In order to retain competitive edge, investment in technology is always a top agenda
and under constant focus. Keeping the network within a reasonable limit, its strategy is to serve
the customers through capacity building across multi
poised to take its customers through fast changing times and enable them compete more
effectively in the market.
History of Prime Bank:
Prime Bank Ltd was incorporated under the
this day field a duly verified, declaration in the prescribed from that the condition of section 150
(1) (a) to (b) of the said Act, have been compiled with is entitled to commence business as public
limited bank. PBL being a banking
registered office at 5, Rajuk Avenue, Motijheel C/A, Dhaka 1000, Later it was shifted to
Adamjee Court Annex Building, 119
industrialists, business house and professionals of the
incorporation of the bank. Initially the bank was having authorized capital of TK 1,000 million
and paid up capital of TK 100 million sponsored by 22 members of Board of Directors.
Vision:
“To be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital
adequacy, asset quality, sound management and profitability having strong liquidity”
Page 15
outlook. For them, it was competence, excellence and consistent delivery of reliable service with
professional and dedicated team with long experience in banking. They constantly focus on
ificant progress within a very short period of its existence. The bank has been graded as a top
already occupied an enviable position among its competitors after achievi
covering all segments of society within the framework of banking bank
regulations laid down by central bank. Diversification of products and services include Corporate
In order to retain competitive edge, investment in technology is always a top agenda
the customers through capacity building across multi-delivery channels. PBL is better placed and
Prime Bank Ltd was incorporated under the Bank ACT, 1994 on February 12. 1995. On
ield a duly verified, declaration in the prescribed from that the condition of section 150
. PBL being a banking bank has been registered under the Bank
Adamjee Court Annex Building, 119-120, Motijheel C/A Dhaka 1000. A group of renowned
industrialists, business house and professionals of the country is sponsored from the
ivery of reliable service with
am with long experience in banking. They constantly focus on
ificant progress within a very short period of its existence. The bank has been graded as a top
already occupied an enviable position among its competitors after achieving success in all areas
bank act and rules and
Diversification of products and services include Corporate
In order to retain competitive edge, investment in technology is always a top agenda
PBL is better placed and
ACT, 1994 on February 12. 1995. On
ield a duly verified, declaration in the prescribed from that the condition of section 150
Bank ACT 1913 with its
. A group of renowned
country is sponsored from the

Mission:
“To build Prime Bank Limited into an efficient, market driven, customer f
institution with good corporate governance structure. Continuous improvement in our business
policies, procedure and efficiency through integration of technology at all levels.”
For Customers –
i. To provide the most courteous and efficient service in every aspect of its business.
ii. To be innovative in the development of new banking products and services.
For Employees –
i. By promoting their well
ii. By promoting good staff morale through proper staff training and development, and
provision of opportunities for career development.
For Shareholders –
i. By forging ahead and consolidating its position as a stable and progressive financial
institution.
ii. By generating profits and fair return on their investment.
For Community –
i. By assuming our role as a socially responsible corporate citizen in a tangible manner by
adhering closely to national policies and objectives thereby contributing towards the
progress of the nation.
ii. By upholding ethical values and best practices.
iii. Constantly seeking to improve performance by aligning our goals with stakeholders’
expectations because we value them.
Slogan:
a bank with a difference
Page 16
“To build Prime Bank Limited into an efficient, market driven, customer f
the most courteous and efficient service in every aspect of its business.
To be innovative in the development of new banking products and services.
By promoting their well-being through attractive remuneration and fringe benefits.
promoting good staff morale through proper staff training and development, and
provision of opportunities for career development.
By forging ahead and consolidating its position as a stable and progressive financial
ating profits and fair return on their investment.
By assuming our role as a socially responsible corporate citizen in a tangible manner by
the nation.
By upholding ethical values and best practices.
Constantly seeking to improve performance by aligning our goals with stakeholders’
expectations because we value them.
“To build Prime Bank Limited into an efficient, market driven, customer focused
the most courteous and efficient service in every aspect of its business.
To be innovative in the development of new banking products and services.
being through attractive remuneration and fringe benefits.
promoting good staff morale through proper staff training and development, and
By forging ahead and consolidating its position as a stable and progressive financial
By assuming our role as a socially responsible corporate citizen in a tangible manner by
Constantly seeking to improve performance by aligning our goals with stakeholders’

12th Bangladesh Awards
DHL -The Daily Star
SAFA Award 2010
Best Published Accounts &
Corporate Disclosures in
Banking Sector
Prime Bank wins 1st Prize
in 11th ICAB National
Awards
Page 17
Awards and Recognitions:
The BIZZ 2012
Inspirational Bank Award
ICAB
ICMAB Best Corporate
Award 2010
International Star for
Leadership in Quality
(ISLQ) Award 2010
Business Initiative
Directions (B.I.D.)
SAFA Best Presented
Accounts Awards 2009
Overall Winner
SAFA Best Presented
Accounts and Corporate
Governance Disclosures
Awards 2009 Winner
(Banking Sector)
ICAB National Award 2010
Reports
International Star for
Leadership in Quality
(ISLQ) Award 2010
Business Initiative
Directions (B.I.D.)
Paris, France
SAFA Best Presented
Accounts and Corporate
Governance Disclosures
Awards 2009 Winner
(Banking Sector)

10th ICAB National
Award for Best Published
Accounts & Reports 2009
First (Banking Sector)
SAFA Best Presented
Accounts Awards 3rd
Position
9th ICAB National Awards
for Best Published
Accounts and Reports
2008 First Prize Financial
Sector Banking
ICAB National Awards-
2003 For Best Published
Accounts and Reports
Second Prize Financial
Sector (Banking)
Page 18
SAFA Best Presented
Joint Winner Banking
Financial Sector
SAFA Best Presented
Bronze Award Banking
10th ICAB National
Award for Best Published
Accounts & Reports 2009
Winner (Private Sector)
Corporate Governance
Disclosure Awards
Performance Award 2008
First Position (Jointly)
FNS Award-2005 Best
Performing Local Bank
ICAB National Awards
Accounts and Reports First
Prize Financial Sector
SAFA Best Presented
Bronze Award Banking
Sector
Performance Award 2008
First Position (Jointly)
ICAB National Awards -
Accounts and Reports First
Prize Financial Sector
(Banking)

Departments of Prime Bank Limited:
The Department Based Approach is similar to that of the branch based approach, where each
department operates as a separate unit but sometimes collaborates in order operate more
efficiently or to solve a common problem. Such departments are also treated as
but are much more specialized in one particular area of business unlike a branch, which has to be
involved in multiple tasks. Examples of few other departments at Prime Bank Ltd are given
below:
a) Human Resources Division (HRD)
b) Financial and Administration Division (FAD)
c) General banking department
i. Accounts opening section
ii. Cash section
iii. Remittance section
iv. Bills and clearing section
v. Accounts section
d) Foreign exchange department
i. Import section
ii. Export section
iii. Foreign remittan
e) Marketing Division
f) Public Relation Department (PRD)
g) Merchant Banking and Investment Banking
h) Treasury Division
i) International Division (ID)
j) Computer and Information Technology Department (IT)
k) Credit Division
l) Corporate Affairs Division
m) Card Division
n) Board Audit Cell
o) Monitoring and Inspection Division
Page 19
Departments of Prime Bank Limited:
efficiently or to solve a common problem. Such departments are also treated as
Human Resources Division (HRD)
Financial and Administration Division (FAD)
General banking department
Accounts opening section
Remittance section
Bills and clearing section
Accounts section
Foreign exchange department
Import section
Export section
Foreign remittance section
Public Relation Department (PRD)
Merchant Banking and Investment Banking
International Division (ID)
Computer and Information Technology Department (IT)
Corporate Affairs Division
Monitoring and Inspection Division
efficiently or to solve a common problem. Such departments are also treated as a separate entity

Prime Bank at a Glance:
1) Date of Incorporation
2) Date of Commencement of Business
3) Logo of the Bank
4) Capital Authorized
5) Paid-up Capital
6) Net Profit
7) Deposits
8) 7) Loans & Advances
9) 8) Investment
10) 8) Global Reach
11) 9) Number of Employees
12) 10) Cash Reserve Ratio
13) 11) Market Price Per Share
14) 12) Return on Equity
15) 13) Return on Assets
16) 14) Earnings per Share (EPS)
17) 15) Name of the Chairman Of PBL
18) 16) Number of Branches
19) 17) Number of SME Branches
20) 18) It is a Publicly Traded
21) 19) Credit Card
22) 20) Banking Operation System
23) 21) Head Office
24) 22) Phone
25) 23) Telex
26) 24) Fax no.
27) 25) E-mail
28) 26) Swift
29) 27) Website
Source: Prime Bank Limited Annual Report 201
Page 20
12th February, 1995
Date of Commencement of Business 17th April, 1995
Tk. 25000 Million
Tk. 10,293 Million
Tk. 2,393 Millions
Tk. 204,838 Millions
Tk. 147,367 Millions
TK. 72,642 Millions
638 Correspondents Worldwide
9) Number of Employees 2867
Cash Reserve Ratio 6.71%
11) Market Price Per Share 19.60 taka
10.08%
0.96%
14) Earnings per Share (EPS) 2.32 taka
15) Name of the Chairman Of PBL Azam J Chowdhury
16) Number of Branches 122
SME Branches 18
18) It is a Publicly Traded Bank Share quoted daily in DSE & CSE
Master Card, Platinum Card
20) Banking Operation System Both conventional & Islamic Shariah System
Adamjee Court, Annexe Building
120,Motijheel C/A, Dhaka
9567265, 95670747-8 PABX
642459 PRIME BJ, 671543 PBL MJ BJ
880-2-9567230, 9560977, 880
info@prime-bank.com, primebnk@bangla.net
PRBLBDDH
www.prime-bank.com
Source: Prime Bank Limited Annual Report 2014
Correspondents Worldwide
Share quoted daily in DSE & CSE
Master Card, Platinum Card
Both conventional & Islamic Shariah System
Adamjee Court, Annexe Building-2, 119-
120,Motijheel C/A, Dhaka-1000, Bangladesh
8 PABX
642459 PRIME BJ, 671543 PBL MJ BJ
9567230, 9560977, 880-2-9566215
primebnk@bangla.net

Organizational structure of Prime Bank L
Page 21
Organizational structure of Prime Bank Ltd

Organogram of Prime Bank Limited:
Page 22
Organogram of Prime Bank Limited:

(Internship experience at Prime Bank Limited)
1.My Experience in General Banking
2.My Experience in Card Division
3.My Experience in Credit Division
4.My Experience in Remittance section
Page 23
Chapter Three
My Experience in General Banking
My Experience in Card Division
My Experience in Credit Division
My Experience in Remittance section

Working in Prime Bank
opportunity for me to acquire practical knowledge about banking sector. I wor
supervision of Mr. Wasim Ahmed
almost every division by rotation. It was a tremendous journey for me to go through the actual
experience of banking sector.
Real world is far away different from the theoretical knowledge. Especially in service sector
there are both encouraging and off
Bank Limited Amberkhana Branch I
works of bankers and observed how the works are being done accordingly to serve the customer
properly.
My Experience in General Banking
At first I got the chance to work in general banking. Working in general banking was
different and spontaneous experience. As in general banking sector I had to deal with the
customers directly. This includes
Some other works were also done by me. The list of jobs that I have done in general banking is
given below:
a) Helping customer in filling their forms
b) Briefing the customers about different Deposit Scheme of PBL
c) Writing Inward register
d) Issuing cheque books
e) Making phone calls to clients to acknowledge them about the arrival of their cheque
books
f) Registering the cheque requisition
My Experience in Card Division:
I also worked in card
responsibilities while working in card division were as follow:
a) Inputting data in Card Register
b) Sorting collected cards from Alternative Delivery Channel (ADC)
c) Maintaining Card pin and acknowledgement slips
d) Delivering cards to the
My Experience in Credit Division:
Credit section is much difficult and sensitive area
wasn’t allowed to work there. Yet I asked many questions to the credit officers to
corns of their work. Thus I came to know something about their activities.
It’s another busiest section o
helped her if there is heavy work
absence.
Page 24
Working in Prime Bank Limited Amberkhana Branch as an intern was the very first
opportunity for me to acquire practical knowledge about banking sector. I wor
Ahmed chowdhury, Operation Manager of the bank
on by rotation. It was a tremendous journey for me to go through the actual
experience of banking sector.
there are both encouraging and off-putting things to experience every day. As an intern of Prime
Limited Amberkhana Branch I experienced of so many new things. I came to know actual
works of bankers and observed how the works are being done accordingly to serve the customer
eneral Banking (GB):
chance to work in general banking. Working in general banking was
This includes helping the customers to fill up their account opening form.
s were also done by me. The list of jobs that I have done in general banking is
Helping customer in filling their forms
Briefing the customers about different Deposit Scheme of PBL
nward register
Making phone calls to clients to acknowledge them about the arrival of their cheque
Registering the cheque requisition
My Experience in Card Division:
division of Prime Bank Limited, Amberkhana Branch. My
responsibilities while working in card division were as follow:
Inputting data in Card Register
Sorting collected cards from Alternative Delivery Channel (ADC)
Maintaining Card pin and acknowledgement slips
Delivering cards to the customers
Division:
Credit section is much difficult and sensitive area of a bank. That’s why
work there. Yet I asked many questions to the credit officers to
s I came to know something about their activities.
My Experience in Remittance section:
It’s another busiest section of PBL. A senior officer is appointed there. Sometime I
helped her if there is heavy work load and even I tried to handle the desk at the time of her
Limited Amberkhana Branch as an intern was the very first
opportunity for me to acquire practical knowledge about banking sector. I worked in under the
of the bank. I worked in
on by rotation. It was a tremendous journey for me to go through the actual
perience every day. As an intern of Prime
experienced of so many new things. I came to know actual
works of bankers and observed how the works are being done accordingly to serve the customers
chance to work in general banking. Working in general banking was
fill up their account opening form.
s were also done by me. The list of jobs that I have done in general banking is
Making phone calls to clients to acknowledge them about the arrival of their cheque
Amberkhana Branch. My
f a bank. That’s why as an intern I
work there. Yet I asked many questions to the credit officers to know pros and
. A senior officer is appointed there. Sometime I
to handle the desk at the time of her

Chapter
1. Introduction
2. Definition of Terms
3. Importance of incentives
4. Reward
5. Types of rewards
6. Length of Reward Program
7. Importance of a Reward System
8. Benefits
9. Types of Benefits
10.Equity-based compensation
11.Motivation
12.Significance of motivation in the workplace
13.Motivating by meeting basic human needs
14.Maslow's need hierarchy theory
15.Alderfer’s ERG theory
16.Three Components of Motivation
17.Procedural justice theory
18.Designing jobs that motivate
19.Job Enlargement: Doing More of th
20.Job Enrichment: Increasing Required Skills and Responsibilities
21.The job characteristics model
22.Suggestions for Enhancing the Motivating Potential of Jobs
23.Rewards and Incentives theories
24.The Carrot and Stick Approach to Motivation
25.Is money the best ‘carrot’?
26.Motivation
27.Theory X of McGregor
28.Theory Y of McGregor
Page 25
Chapter Four (Literature Review)
Introduction
Definition of Terms
Importance of incentives
Types of rewards
Length of Reward Program
Importance of a Reward System
Types of Benefits
based compensation
Motivation
Significance of motivation in the workplace
Motivating by meeting basic human needs
Maslow's need hierarchy theory
Alderfer’s ERG theory
Three Components of Motivation
Procedural justice theory
Designing jobs that motivate
Job Enlargement: Doing More of the Same Kind of Work
Job Enrichment: Increasing Required Skills and Responsibilities
The job characteristics model
Suggestions for Enhancing the Motivating Potential of Jobs
Rewards and Incentives theories
The Carrot and Stick Approach to Motivation
y the best ‘carrot’?
Motivation-Hygiene Theory
Theory X of McGregor
Theory Y of McGregor
(Literature Review)
e Same Kind of Work
Job Enrichment: Increasing Required Skills and Responsibilities
Suggestions for Enhancing the Motivating Potential of Jobs

Introduction
Compensation is output and the benefit that employees’ receive in the form of pay, wages
and also same rewards like monetary exchange for the employees’ to increases the Performance.
Compensation is the segment of transition between the employees’ and the
outcomes employees’ contract. As the prospective of employees’ pay is the necessary of life. The
payment receives from work done on the behalf of people getting the employment.
Compensation is mostly equal to half of cash flow of the
more than half. It is the major to attract the employees’ and motivate them to increase the
performance.
It argues that most individuals that
jobs and their turnover rate is higher. S
retain the employees’ as well plays more to attract, retain and motivate to give man power.
Different organizations design
employees’ who believe in
increased.
In other words you can say that compensation and rewards effects the employees’
decision making to stay their organizations and also accepted the responsibili
employees’ training as a compensation and benefits package
human resources normally increases the satisfaction and productivity
employees’ about the organization’s benefits
performance good quality and quantity of work is done. Organization
influences to employees’ voluntary turnover employees’ compare to their pay available in other
organization. Employee’s stay
their job promotional opportunities
Definition of Terms
Compensation
This is the package of quantifiable rewards employees’ receive for his or her labour. It
includes three components: base compensation, pay incentives and indirect compensation/
benefits.
Motivation
Motivation is concerned with factors that influence people to behave in certain ways.
Motivating people is about getting them to move in the direction you
results. There are two types of motivation these are, intrinsic motivation
motivation.
Incentives
An incentive is something that motivates an individual to perform an action. The study of
incentive structures is central to the study of all economic activities (both in terms of individual
Page 26
Compensation is the segment of transition between the employees’ and the
Compensation is mostly equal to half of cash flow of the bank. But in the service sector it is
individuals that are getting higher education are not satisfied
rate is higher. So that organizations design the compensation plan to
organizations design their benefits and compensation packages to attract
their abilities and know that if they perform well pay can be
decision making to stay their organizations and also accepted the responsibili
employees’ training as a compensation and benefits packages has increased
s normally increases the satisfaction and productivity
organization’s benefits policy should be clear. If pay is tied to employees’
performance good quality and quantity of work is done. Organizational
Employee’s stay or leave the bank much more depends on their satisfaction
r job promotional opportunities and work environment.
three components: base compensation, pay incentives and indirect compensation/
otivation is concerned with factors that influence people to behave in certain ways.
Motivating people is about getting them to move in the direction you want them to go to achieve
results. There are two types of motivation these are, intrinsic motivation
is something that motivates an individual to perform an action. The study of
ntral to the study of all economic activities (both in terms of individual
Compensation is the segment of transition between the employees’ and the owner that the
ut in the service sector it is
are not satisfied with their
o that organizations design the compensation plan to
their benefits and compensation packages to attract qualified
that if they perform well pay can be
decision making to stay their organizations and also accepted the responsibilities. The value of
s has increased the performance of
s normally increases the satisfaction and productivity. The perception of
. If pay is tied to employees’
al pay system directly
much more depends on their satisfaction with
three components: base compensation, pay incentives and indirect compensation/
otivation is concerned with factors that influence people to behave in certain ways.
want them to go to achieve
results. There are two types of motivation these are, intrinsic motivation and extrinsic
is something that motivates an individual to perform an action. The study of
ntral to the study of all economic activities (both in terms of individual

Role of compensation practices on employees’ motivation: A study on Prime Bank Limited

Role of compensation practices on employees’ motivation: A study on Prime Bank Limited

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Role of compensation practices on employees’ motivation: A study on Prime Bank Limited