Opsonin Pharma Ltd.

Chapter -1 Introduction

1.1 Rationale for Selecting the Report

The study was conducted to evaluate the “Compensation and Benefit Analysis” procedure by HR

and Admin of Opsonin Pharma Ltd. As the chosen organization is the giant Pharmaceutical

company in Bangladesh, I have decided to find out the whole process and procedure of

“Compensation and Benefit Analysis” system and practices regarding employment which is used

inside the organization and also implemented in the activities based on the previous information

and records and their current practices, that I obtained from the organization.

1.2 About Opsonin Pharma Ltd.

Pharmaceuticals sector is one of the most high growth and highly profitable industries in the

country. At present, pharmaceutical industry is the second largest taxpayer to the countries

exchequer. Most of the players of the industry enjoy high profit margin. One of the unique

features of the industry is that import is restricted for products that are being produced by two

local companies. The regulation encouraged local private investors in the sector. Advertisement

being banned for drugs, more emphasis is given on sales force.

Opsonin Pharma Ltd is committed to improve its position continuously as a Leading

Pharmaceutical company in Bangladesh and strengthen its global presence. It creates value for its

customers and other stakeholders by providing highest quality health care solutions through

appropriate application and development of resources and processes.

1.3 Historical Background

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The Opsonin Pharma Limited Started it business operation in 1956 as a partnership business

in the name “ Opsonin Chemical Limited”. In the year 1976 the legal status was subsequently

change & it got listed as private limited company. In 2005 the company was renamed as

“Opsonin Pharma Limited”.

1956-2003 Integrating the visionary imagination for basic industrial development in this country

by our Founder Chairman Late Abdul Khaleque Khan, the successors have already established a

number of innovative & import substitute industrial units mainly in the pharmaceuticals and

related sectors. The seed that was planted in the year 1956 now has become a tree. The way we

walked though was not a smooth and plain one. After a thousand miles walk the plant of distilled

water has now opened a new horizon in Bangladesh pharma industry. From the inception we

always believed in nation building activities. Our cherished dream is to serve the mankind and

the man behind the mankind. This dream has come into reality as a result of thousand miles

throbbing walk of thousand people.

1956- Partnership business started.

1962- Manufacturing of injectables

1976- Enlisted as private limited company

1980- Expanded nationwide marketing & distribution

1982- Manufacturing of antibiotic capsules

1985- Export of products to South East Asia and the Middle East

1996- Manufacturing of suppositories first time in Bangladesh

1997- Manufacturing of soft gelatin capsules

2000- ISO 9001 certification

2003-Site development and planning for new factory 

2005-Company name has changed from 'Opsonin Chemical Industires Ltd.' to 'Opsonin Pharma

Ltd.'

Support Division consist of the following departments-

1. Operational: Deals with the processing activities of the business department.

2. Finance: Deals with the financial of organization and reporting.

3. Human Resource: Deals with People of the organization.

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4. Administration: Ensure the smooth running of the organization by providing logistic

support etc.

5. Commercial: Commercial Department deals with purchase of raw materials.

6. Marketing: Deals with the marketing of our Production.

1.4 About Company Profile

Company Address:

Corporate Office:

Opsonin Building, 30 New Eskaton Road, Dhaka1000, Bangladesh

Tel: 933 2262 935 6451, Fax: 880-2-831 4450

Website:www.opsonin.com,email:abir@opsonin.net

Business Profile

Opsonin Pharma Ltd is a manufacturer of the medicines & healthcare products in Bangladesh.

The company is selling its product both in local & international market. Its main market across

the border of Africa, Oceania, Middle East & Eastern Asia. Opsonin Pharma Ltd has adopted the

World Health Organizations (WHO) guidelines on GMP in the quality Management system.

Quality Assurance Procedures ensure that the quality of the products is maintained by strict

compliance with international Pharmacopoeias specification on raw materials, packing materials

& finished products. Opsonin Pharma Ltd has more than 2100 employees which includes

diversified professional team like Pharmacist , Chemist, biochemist, chartered accountant , cost

& management accountant etc. The company has a large sales team of more than 425

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

country.

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1.5 Vision & Mission and Value of Opsonin Pharma Ltd.

Vision of the Company

1. From the very beginning vision of Opsonin company is to produce & supply that type of

medicine which meets the demand of daily life of the people.

2. The prevent from new disease of Opsonin pharmaceutical committed to supply medicine

to the hard to reach area of the country.

3. Opsonin Company is always wants to develop the level of life expectancy of the people.

4. Vision of the Opsonin is established Opsonin permanently among the best innovative

branded generic companies.

Mission of the Company

To provide maximum value to companies’ customers, shareholders, colleagues and communities

where we live and work.

1. Determine market potentialities through research

2. Introducing new innovative sources and technology.

3. Ensuring quality product and services confirm to the international standard.

4. Exceeding customer satisfaction and gaining trust through quality product and services.

5. Expanding the business home and abroad.

Values of the Company

In order to achieve the aspired vision employees should subscribe to the following

For quality all employee do anything. Live up to own commitment Transparent and fair in all dealings Take initiative to exceed standard Believe in continuous improvement

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

1.6 Company Organogram:

Overall Organogram

1.7 Objectives of the Study:

The main objective of the study is to finding out the present compensation and benefits of Opsonin Pharma. And also to fulfill the requirement of BBA program. The objective of the study may be viewed as:

To know the existing compensation structure of Opsonin Pharma,

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To evaluate whether the existing compensation and benefit structure is working or not at Opsonin Pharma,

To give recommendation on compensation and benefit,

To submit the practical work as a paper work that I have learned in my three months internship of BBA program.

Chapter: 2 Activities Undertaken

2.0 Duties and responsibility as an Intern

As my report title is “Compensation and Benefit Analysis” Process of Opsonin Pharma Ltd.

and as I mention that I did my internship at Human Resource department so during my internship

I did a lot of work that assigned by my department supervisor. To do all the HR tasks I ha d to

involve in their whole HR activity. Works that have been performed by me are written below:

I did analysis the whole HR practice of OPL.

I analyses the Compensation and Benefit process of OPL.

I have visited the whole office for checking their operations.

I also analyses the employees opinion based on their demand of OPL.

I maintain the whole wages & salary policy which they followed in their activities.

2.1 Human Resource Management of Opsinin Pharma Ltd.

Human Resource Management (HRM) is the function within the OPL focuses on recruitment,

management, and providing direction for the people who work in the organization. Human

Resource Management can also be performed by line managers in OPL.

Human Resource Management is the organizational function that deals with issues related to

people such as compensation, hiring, performance management, organization development,

safety, wellness, benefits, employee motivation, communication, administration, and training.

In OPL HRM is also a strategic and comprehensive approach to managing people and the

workplace culture and environment. Effective HRM enables employees to contribute effectively

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

goals and objectives.

OPL has more than 2,100 employees which includes diversified professional team like

pharmacist, chemist, biochemist, microbiologist, engineer, medical professional, IT professional,

chartered accountant, cost and management accountant business graduates etc. OPL is

committed to develop its human resources through continuous training and development. We

have a large sales team comprising of 425 professionally trained persons.

Figure: HR function

2.2 Compensation and Benefit of OPL

2.2.1 COMPENSATION:

In financial terms, the salary and wages you pay to your employees for the work they do. Other,

nonfinancial forms of compensation can also be offered to attract and retain staff.

Gary Dessler in his book Human Resource Management defines compensation in these words

"Employee compensation refers to all forms of pay going to employees and arising from their

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employment." The phrase 'all forms of pay' in the definition does not include non-financial

benefits, but all the direct and indirect financial compensations.

Compensation must be defined in a plan for many purposes. Each plan component can use a

different definition of “compensation.” Therefore, a single plan may define compensation

several ways.

Compensation may be used to determine the amount of benefits accrued in a defined benefit plan

or the amount of contributions allocated to accounts for a defined contribution plan.

In addition to calculating the amount of benefits, compensation also places limits on the amount

of benefits or allocations. When a mandatory top heavy benefit arises, compensation is used to

determine the amount of the top heavy benefit. Compensation is also a factor when testing the

plan for non- discrimination.

Finally, compensation is used by the employer when figuring out the deduction limits.

Because the definition of compensation has so many plan applications, it is important to be able

to define and distinguish the requirements for compensation for various plan purposes.

Items which are always required to be excluded from compensation for purposes of are as

follows:

Contributions made by the employer to deferred compensation plans to the extent that the

contributions are not includible in the employee’s gross income.

Distributions from deferred compensation plans. However, any amounts received by an

employee pursuant to an unfunded non-qualified plan are permitted to be considered as

compensation for IRC Section 415 purposes in the year the amounts are includible in the

gross income of the employee.

Amounts realized from the exercise of nonqualified stock options

Amounts realized from the sale or exchange of stock acquired under a qualified stock

option.

Certain premiums for group-term life insurance.

Compensation is based on:

Market research about the worth of similar jobs in the marketplace,

Employee contributions and accomplishments,

The availability of employees with like skills in the marketplace,

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The desire of the employer to attract and retain a particular employee for the value they

are perceived to add to the employment relationship, and

The profitability of the company or the funds available in a non-profit or public sector

setting, and thus, the ability of an employer to pay market-rate compensation.

2.2.2 BENEFITS:

Employees today are not willing to work only for the cash alone, they expect 'extra'. This extra is

known as employee benefits. Also known as fringe benefits, Employee benefits are non-financial

form of compensation offered in addition to cash salary to enrich workers’ lives.

Employee benefits are various non-wage compensations provided to employees in addition to

their normal wages or salaries. In instances where an employee exchanges (cash) wages for some

other form of benefit is generally referred to as a 'salary sacrifice' or 'salary exchange'

arrangement. In most countries, most kinds of employee benefits are taxable to at least some

degree.

Examples of these benefits include: housing (employer-provided or employer-paid), group

insurance (health, dental, life etc.), disability income protection, retirement benefits, daycare,

tuition reimbursement, sick leave, vacation (paid and non-paid), social security, profit sharing,

funding of education, and other specialized benefits.

The purpose of the benefits is to increase the economic security of employees.

Employee benefits are not performance-based, they are membership-based. Workers receive

benefits regardless of their performances. Employee benefits as a whole have no direct affect on

employee performance, however, inadequate benefits do contribute to low satisfaction level and

increase absenteeism and turnover in employees (De Cenzo and Robbins; 2007). So every

company would have to carefully design their benefit package. Company’s package may include

a cell phone to each worker, taking them to a training workshop or seminar, giving them a day or

two off every month and so on. While deciding on the benefits package, do consider the

associated costs.

Employees should be managed properly and motivated by providing best remuneration and

compensation as per the industry standards. It is an integral part of the management of his

organization. Compensation is a systematic approach to providing monetary value to employees

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in exchange for work performed. It may achieve several purposes assisting in recruitment, job

performance, and job satisfaction. (Farhaan Panagar) . The lucrative compensation will also

serve the need for attracting and retaining the best employees. .

Compensation is the remuneration received by an employee in return for his/her contribution to

the organization. It is an organized practice that involves balancing the work-employee relation

by providing monetary and non-monetary benefits to employees.

Susan M. Heathfield has said that compensation is the total amount of the monetary and non-

monetary pay provided to an employee by an employer in return for work performed as required.

Compensation Includes writing job descriptions, conducting performance evaluations, and

monitoring and administering benefits packages. (Anselmo L S Teng).

Compensation is an integral part of human resource management which helps in motivating the

employees and improving organizational effectiveness.

Need of Compensation Management

A good compensation package is important to motivate the employees to increase the

organizational productivity.

Unless compensation is provided no one will come and work for the organization. Thus,

compensation helps in running an organization effectively and accomplishing its goals.

Salary is just a part of the compensation system, the employees have other psychological

and self-actualization needs to fulfill. Thus, compensation serves the purpose.

The most competitive compensation will help the organization to attract and sustain the best

talent. The compensation package should be as per industry standards

Compensation and benefits is a sub-discipline of human resources, focused on employee

compensation and benefits policy-making. (PJ Hayes)

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2.3 ADVANTAGES OF COMPENSATION & BENEFITS

2.3.1 Advantages to Boutique:

A well designed compensation and benefits plan helps to attract, motivate and retain talent in

every firm. A well designed compensation & benefits plan will benefit company’s boutique in

the following ways.

1. Job satisfaction: Employees would be happy with their jobs and would love to work for

company if they get fair rewards in exchange of their services.

2. Motivation: All employees have different kinds of needs. Some want money so they work for

the company which gives them higher pay. Some value achievement more than money, they

would associate themselves with firms which offer greater chances of promotion, learning and

development. A compensation plan that hits workers’ needs is more likely to motivate them to

act in the desired way.

3. Low Absenteeism: Why would anyone want to skip the day and watch not-so-favorite TV

program at home, if they enjoy the office environment and are happy with their salaries and get

what they need and want?

4. Low Turnover: Would company’s employee want to work for any other boutique if they

offer them fair rewards. Rewards which they thought they deserved?

2.3.2 Advantage to Employees:

1. Peace of Mind: Company offering of several types of insurances to the workers relieves them

from certain fears. Then workers as a result now work with relaxed mind.

2. Increases self-confidence: Every human being wants his/her efforts to get acknowledgment.

Employees gain more and more confidence in them and in their abilities if they receive just

rewards. As a result, their performance level shoots up.

The area of Compensation and Benefits belongs to the most specialized areas in Human

Resources Management. Compensation and Benefits usually plays the role of the HR

Controlling, setting the rules and procedures around the salaries, variable pay and benefits.

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Compensation and Benefits is usually the function of HRM most connected with the competitors

on the market and it sets the compensation policies, which are fully competitive on the job

market, but the policies still meet the targets defined by the organization.

The clear definition of processes in Compensation and Benefits is very important as the

processes are under the attacks from the line management every single day. There is no a day

without a pressure for the salary review at the individual employees and the rules and standards

must be waterproof.

2.4 The basic components of employee compensation and benefits

Employee compensation and benefits are basically divided into four categories:

1. Guaranteed pay – monetary (cash) reward paid by an employer to an employee based on

employee/employer relations. The most common form of guaranteed pay is the basic salary.

2. Variable pay – monetary (cash) reward paid by an employer to an employee that is contingent

on discretion, performance or results achieved. The most common forms are bonuses and sales

incentives.

3. Benefits – programs an employer uses to supplement employees’ compensation, such as paid

time-off, medical insurance, company car, and more.

4. Equity-based compensation – a plan using the employer’s share as compensation. The most

common examples are stock options.

Guaranteed pay :

Guaranteed pay is a monetary (cash) reward. The basic element of the guaranteed pay is the base

salary, paid based on an hourly, daily, weekly, bi-weekly or a monthly rate. The base salary is

typically used by employees for ongoing consumption. Many countries dictate the minimum

base salary defining a minimum wage. Individual skills and level of experience of employees

leave room for differentiation of income-levels within the job-based pay structure.

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In addition to base salary, there are other pay elements which are paid based solely on

employee/employer relations, such salary and seniority allowance.

Variable pay:

Variable pay is a monetary (cash) reward that is contingent on discretion, performance or results

achieved. There are different types of variable pay plans, such as bonus schemes, sales incentives

(commission), overtime pay, and more.

An example where this type of compensation plan is prevalent is the real estate industry and real

estate agents. A common variable pay plan might be the sales person receives 50% of every

dollar they bring in up to a level of revenue at which they then bump up to 85% for every dollar

they bring in going forward. Typically, this type of plan is based on an annual period of time

requiring a "resetting" each year back to the starting point of 50%. Sometimes this type of plan is

administered so that the sales person never resets and never falls down to a lower level. It also

includes Performance Linked Incentive which is variable and may range from 130% to 0% as per

performance of the individual as per his KRA.

Benefits:

There is a wide variety of employee benefits, such as paid time-off, insurances (life insurance,

medical/dental insurance, and work disability insurance), pension plan, company car, and more.

A benefit plan is designed to address a specific need and is often provided not in the form of

cash. Many countries dictate different minimum benefits, such as minimum paid time-off,

employer’s pension contribution, sick pay, and more.

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Equity-based compensation:

Equity based compensation is an employer compensation plan using the employer’s shares as

employee compensation. The most common form is stock options, yet employers use additional

vehicles such as restricted stock, restricted stock units (RSU), employee stock purchase plan

(ESPP), and stock appreciation rights (SAR).

The classic objectives of equity based compensation plans are retention, attraction of new hires

and aligning employees’ and shareholders’ interests.

Organizational place

In most companies, compensation & benefits (C&B) is a sub-function of the human-resources

function.

HR organizations in big companies are typically divided into three: HR business partners

(HRBPs), HR centers of excellence, and HR shared services. C&B is an HR center of excellence,

like staffing and organizational development (OD).

Main influencers

Employee compensation and benefits main influencers can be divided into two: internal

(company) and external influencers.

The most important internal influencers are the business objectives, labor unions, internal equity

(the idea of compensating employees in similar jobs and similar performance in a similar way),

organizational culture and organizational structure.

The most important external influences are the state of the economy, inflation, unemployment

rate, the relevant labor market, labor law, tax law, and the relevant industry habits and trends.

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Bonus plans

Bonus plans are variable pay plans. They have three classic objectives:

1. Adjust labor cost to financial results – the basic idea is to create a bonus plan where the

company is paying more bonuses in ‘good times’ and less (or no) bonuses in ‘bad times’. By

having bonus plan budget adjusted according to financial results, the company’s labor cost is

automatically reduced when the company isn’t doing so well, while good company performance

drives higher bonuses to employees.

2. Drive employee performance – the basic idea is that if an employee knows that his/her bonus

depend on the occurrence of a specific event (or paid according to performance, or if a certain

goal is achieved), then the employee will do whatever he/she can to secure this event (or improve

their performance, or achieve the desired goal). In other words, the bonus is creating an incentive

to improve business performance (as defined through the bonus plan).

3. Employee retention – retention is not a primary objective of bonus plans, yet bonuses are

thought to bring value with employee retention as well, for three reasons: a) a well designed

bonus plan is paying more money to better performers; a competitor offering a competing job-

offer to these top performers is likely to face a higher hurdle, given that these employees are

already paid higher due to the bonus plan. b) if the bonus is paid annually, employee is less

inclined to leave the company before bonus payout; often the reason for leaving (e.g. dispute

with the manager, competing job offer) 'goes away' by the time the bonus is paid. the bonus plan

'buy' more time for the company to retain the employee. c) employees paid more are more

satisfied with their job (all other things being equal) thus less inclined to leave their employer.

The concept saying bonus plans can improve employee performance is based on the work of

Frederic Skinner, perhaps the most influential psychologist of the 20th century. Using the

concept of Operant Conditioning, Skinner claimed that an organism (animal, human being) is

shaping his/her voluntary behavior based on its extrinsic environmental consequences – i.e.

reinforcement or punishment. This concept captured the heart of many, and indeed most bonus

plans nowadays are designed according to it, yet since the late 1940s a growing body of

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empirical evidence suggested that these if-then rewards do not work in a variety of settings

common to the modern workplace. Research even suggested that these type of bonus plans have

the potential of damaging employee performance.

Compensation is payment to an employee in return for their contribution to the organization, that

is, for doing their job. The most common forms of compensation are wages, salaries and tips. {W

Lewellen}

2.5 Compensation, Benefits and Services:

Every employee receives the salary as the compensation. The salary varies with the seniority,

position in the hierarchy of the organization. Salary comprises House rent allowance, Traveling

allowance, and Interim allowance. Income tax and Provident fund is deducted from the salary

amount. Other services including housing facility, transportation facility, loan at lower rate of

interest etc. But all of these vary with the hierarchical seniority of the employee in OPL other

benefits include sick leave, pension scheme, capital accumulation plan and insurance.

Employees get bonus two times in a year during two Eid festivals. In every year OPL gives 5%

of benefits o the employees. In the field have the Medical Promotion Officer (MPO) achieve his

sales together he gets 50% incentives. If any Employee achieve him target & in national ranking

if he is 100, there is position of foreign tour. Sometime they receive the annual increments.

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2.5.1 Reward & Compensation

Components of an overall compensation and rewards strategy often include: 

intrinsic rewards monetary rewards wages salaries commissions

First, you must tailor our compensation strategy to our industry, our workforce, and our

organization location. After we discuss that, we’ll discuss reward strategies.

An outcome that gives an individual personal satisfaction such as that derived from a job well

done.

Monetary means relating to money, especially the total amount of money in a country. 

Money that is paid or received for work orservices, as by the hour, day, or week. Compare living

wage, minimum wage.

A fixed regular payment made by an employer, often monthly, for professional or office work as

opposed to manual work Compare wage.

A fee charged by a broker or agent for his/her service in facilitating a transaction, such as the

buying or selling of securities or real estate. In the case of securities trading, brokers can

be split into two broad categories depending on the commissions they charge. Discount

brokers charge relatively low commissions, but provide no services beyond

executing trades. Full service brokers charge higher commissions, but

provide research and investment advisory services.

2.5.2 Compensation Strategies Range from Basic:

A compensation strategy ought to reinforce your organization’s needs and values and can

strengthen workforce alignment. A sound compensation plan will position your organization in

its market, contribute to its reputation, and help you attract and keep employees. Compensation

plans often include a range of components such as

wages salaries commissions bonuses

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Much of a successful compensation strategy, especially in a competitive market, depends on

what your competitors’ compensation systems include. Here are some of the most common

components to consider when developing a compensation strategy.

2.6 Employee Wages and Salaries:

“Wage” to mean hourly pay and “Salary” to mean annualized pay. No matter how you pay our

employees, it’s important to perform regular salary benchmarking and to use up-to-date, specific

data for your positions. Pay Scale has great information and resources, as well as helpful tools

for you to use to make the most of the information.

Another source to check data through is the Department of Labor. The Employment Security

Department is another potential data source. The data will likely be a couple of years old, so it

may need to be “aged” to bring it up to current levels. I use the Bureau of Labor Statistics’

inflation calculator to help me age data. The calculator lets you plug in the amount and year of

the data and will show you a result corrected for inflation. This is generalized, and if we can find

better inflation data for our area, use that instead.

2.7 Compensation Strategy:

We may choose to set your wage or salary levels at the mid-range of your market. If choose to

pay lower than the market rate, you may not attract the “star” employees. If do not need to attract

“star” employees, do not pay the extra amount that will attract them to work for you. 

On the other hand, if you do need stars and you get too zealous about attracting them by being at

the top of the market you may find yourself in a pickle when they want a raise. Then you’ll need

to exceed the market, or risk the employees going to a competitor.

Wages or salaries are often referred to as the “base,” meaning they form the basis of employee

compensation, even if they are the entire employee compensation. This definition will be

important later on.

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2.7.1 Commissions:

Commissions can be used several different ways:

Replace a salary after an employee gets seasoned in the field.

Take the place of ever paying salary and wages.

Be blended with salary and wages the whole time

Consider using commissions to supplement salaries (often called “base plus commission”) up to a

certain percentage. You could also use different percentages to emphasize particular needed

results. We could tie commissions to performance and sales to induce employees to achieve higher

levels. Some successful companies give high salaries and low commissions, and some do the

opposite. They choose depending on the industry expectations and the workforce development

strategy. Bonuses, Wages, salaries, and commissions can all create a “bow wave”. That is, future

wages, salaries, and commissions must exceed the current levels to seem to the employees like

improvements. This can be true even if the economy is bad and revenue is down. 

In my experience, bonuses are best used as rewards. I know some industries have long considered

them as employee entitlements. However, if they become part of the base this way, they make the

“bow wave” taller and harder for you as the employer to “top” in the next compensation

negotiation. Another possible outcome is your employees will expect bonuses regularly even if

their performance does not warrant them. 

2.7.2 Employee Reward Strategies Range from Basic to Complex:

Developing an employee rewards strategy is really the place to play, have fun and be creative.

Reward strategies can be uniquely yours, and distinguish your company as “the” place to work.

This is an excellent opportunity for reinforcing your organization’s brand. Giving gift certificates

or cards in a down economy is great.

Several organizations may join together to promote each other’s organization by giving gift

certificates to each other’s companies as a reward for good performance. Employees meeting a

performance goal or working together to meet an extremely tight timeframe may be good cause

to treat them to a party or picnic. Some organizations even give away trips as rewards to their top

sales producers.

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2.8 Workplace Environment:

Don’t forget that your workplace environment can also be a huge benefit to employees. That is

why I consider it part of an employee rewards system. Here is a list of ways you can make we

work environment more positive for your employees

Support your high achievers. High achievers want to work with other high achievers. They know

that even a few low achievers will consume most of the attention of an organization and suck the

life out of it. Set up performance improvement programs for your low achievers, and hold them

accountable for following-through. If performance does not improve, help them transition out of

you organization.

Give respect. Empower your employees who have proven to you that they have good judgment

by allowing them to make recommendations on how to handle difficult situations.

Make transportation green and cheap. Transit passes offered in your organization are a great way

to participate in making our organization environmentally sensitive. There may be governmental

inducements available to you for doing that.

Promote healthy choices. We can also pair up with a neighborhood athletic club or gym, either

for gift certificates or reduced membership for your employees.

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Chapter: 3 Challenges & Proposed Action Plans

The study was limited only to the Opsonin group Limited. Another Problem was time

constraints. The company was a busy one having heavy rush of people, whom officers need to

deal with. So allocation of time for an internee is very much tough for the officers of the

company. I was not assigned for a specific task in each day. So I was not able to understand

compensation activities deeply. The company does not interest to provide me confidential data.

As a result in my report there is a confidential data limitation. Omission and error may be there

due to my lack of experience in preparing a professional report like this one.

SWOT Analysis

STRENGTH of OPL:

Open HR Manual

There is a Human Resource manual of Opsonin Pharma Limited Bank Limited Which is open

to all of Its employee give total understanding of the terms and condition of the organization to

assist the benefit and growth they can achieve and the role of Human Resource Department

with all other departments/division of the organization .The HR Manual is uploaded in the

internal website of Opsonin Pharma Limited.

Empowered Work Force

As the human resource of Opsonin Pharma Limited is externally well thought and perfectly

managed, the top management believed in empowered employees to all levels of branches. This

empowered environment makes Opsonin Pharma Limited a better Place for the employees. The

employees are not suffocated with the authority but are able to grow as the organization mature.

Strong Bonding and Belongingness

Opsonin Pharma Limited employees are One of the major assets of the company. The employees

have a strong sense of commitment towards organization and also feel proud and sense of

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belongingness toward Opsonin Pharma Limited. This strong organizational culture is a main

strength of the organization.

Information Technology

Personal computer ,email for all employee enable the employees work easier and faster with

professionalism .All kind of Benefits, salaries and monetary rewards directly given to employees

by the own technological system.

Different Staff Loan

There is a set of staff loans in Opsonin Pharma Limited increase the employee satisfaction in

terms of monetary benefit enable them more stress free and put dedication.

Performance Appraisal

Through performance appraisal process is still under reconstruction, the existing method is

satisfactory and motivated staff toward accomplishment in the past.

Employee Evaluation

Employee evaluation process by Human Resource Department became strength for its fair

judgment and put trust among the employees of all branches on Human Resource Department .

WEAKNESS of OPL:

Compensation and Benefits

Compensation and Benefit of Opsonin Pharma Limited employee is provided by the Human

Resource Department through software named Oracle. Those software is not flexible to use and

has lot of limitation.

HR Accounting

Human Resource accounting is a Strong tool for matching the benefits of each new recruitment

done in the organization, turnover, etc. Human Resource Department of Opsonin Pharma

Limited is not yet established this practice.

Job Description

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Job description is a necessary accomplishment should have for each position for recruiting the

most suitable candidate on the basis of skill and experience required. Still hundred percent job

descriptions is not prepared or collected by the HR department for branches.

OPPORTUNITY of OPL:

Technical Procedure

Eskaton Branch stay in a competitive place and they many competitor. In this branch, they have

the technical procedures to overcome those competitors .All competitor always think about this

branch and always think seriously.

Provide quick service

In Eskaton branch all customers always satisfy about employee’s service. All employees are

careful about their service. In the service providing sector this phermacitical have perfume mind

blowing performance.

Market Capturing

This branch is situated in eskaton branch, which is renowned as a commercial are and this area

could be an opportunity for this organization. They have some shopping mall, restaurant, college

and schools this is an opportunity for them because its not only phermacitical company they have

many garments and so on.

Training & Learning

Training & Learning is the core function for make the executives cope with the new senior and

make them update and knowledgeable. Opsonin Pharma Limited

is going utilize its fullest capacity and enthusiasm in these regards by establishment a library,

arranging extensive training module etc for employees branches very soon.

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THREATS of OPL:

Competitive Salary and Turnover

The salary package of Opsonin Pharma Limited is not competitive as the market demands, so the

turnover of manpower is increasing day by day.

New /Multinational companies/Phermacitical Policy

New multinational companies and phermacitical policy got as threat to Opsonin Pharma Limited

is respect increasing the salary expectation of the employees and new HR practices tuning the

existing employee dissatisfied.

Bangladesh pharmaceutical Regulation

The regulation and legislation of Bangladesh pharmaceutical is randomly changing the scenario

of the Human Resource policy and scope suddenly.

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Chapter – 4 Lessons learned from the internship program.

To have the opportunity to work here is a blessing to me. I have gathered a wide range of

from here. As a student we always hear our peer, partners, professions and advisors follow-up

to getting experience in the career field of a possible job. The experience behavior and dealing

of the staffs here is worthy to mention. I have learnt official behavior and dealings from them.

I have gained knowledge about how to perform official jobs. Perfectly, run the administration,

how to maintain official procedure and make a perfect business plan. The chain of command

of the organization is remarkable. The planning of HR is the key here.

4.1 How internship experience impacts my career:

To me this organization provides with every facility to university’s internship program. From

top to bottom, everybody here is very sincere to provide any assistance needed to make the

program successful. There are favorable atmosphere exists for internship program. I am really

grateful to the organization especially to the honorable Senior HR Executive of the

organization.

Skills are something to be acquired through practical experience. To me the staffs here are

always dynamic to improve their skills under good administration and in a congenial

atmosphere. The newer recruits are always encored to be skilled through providing incentives.

Some practices here are mention worthy specially the behaviors, greetings, maintaining chain

of commands and workings, sincerely. Moreover, they are always dedicated for the betterment

of the organization.

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Chapter -5 Concluding Statements and Recommendations

5.1 CONCLUSION:

During the three months internship Program at OPL, almost all the desk has been observed

more or less. This internship program have been arranged for gaining knowledge and compare

practical knowledge with theoretical involves identification of weakness in the activities and

making recommendations for solving the weakness identified .Through all desk are covered in

the internship program, it is not possible to go to the depth of each activities of desk because

of time limitation. However, height effort has been given to achieve the objectives the

internship program. So employees will also have easier access to HR department wherever

they will require any approval.

Similarly, the success of a office mainly depends on their officers & executives’ behavior,

attitude, skills, knowledge, sharpness of work, experience, smartness, delivery of articulation,

communication ability and last but not least manageable capacities etc. Necessary logistic

support plays a vital role for improving and developing the services of a branch as well as

organization. From the above discussion, we can conclude that skilled Manpower, capability

and capacity of Officers/Executives give rise to an effective system.

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5.2 RECOMMENDATIONS:From my three month of internship experience , I think the following measure could be taken by

Opsonin Pharma Ltd authority for strengthening their position both in the local market and

also across the globe.

1. Opsonin Pharma Limited should emphasize more to increase their market growth rate &

market Share.

2. Evaluating for the good performance of the employees by introducing instant reward and

incentives.

3. Opsonin Pharma Limited should try to perform some social responsibility like

establishment of Hospital, providing medical facility to any rural areas for particular

period of time.

4. For employee are not highly committed to their job.

5. Here loan processing is so much lengthy; it is bad for the employer. Try to avoid the

lengthy process.

6. Weekly & monthly program should be organized.

7. Reward system can be introduced to employee as per the working performance.

8. Organization hierarchy.

9. In case of system design ,review and improvement.HR are not take input from all the

employees department in many cases the performance standards, objectives are not

clearly communicated to the employees ;as a result employees confused about what is

expected from them.

At the end I would like say that Bangladesh is poor country where we have to depend on import

of foreign product for fulfillment of demand. But Pharmaceutical industry is an exception, which

does not depend on foreign product rather we can fulfill our demand by ourselves. This is a great

proud for us. Our Pharmaceutical product is full of outstanding quality. That day is not far away

when Opsonin Pharmaceutical Ltd. will become a global based Company.

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5.3 REFARANCE:

Books:

Deslarer, Gary, (2005), "Human Resources Management”(9th Edition), New Delhi.

Ricky, w. Griffin (2005-2006),”Management”,(7th edition) Boston New York, Houghton

Mifflin company.

Deconzo. A David Robbin, P Stephen (2004-2005) "Human Resources Management"7th

edition, New York.

Websites: http://www.opsonin.com http://www. google.com

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

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