1. Introduction

Human resource is the best resource in the organization and without human resource the organization is not possible to gain the success in the organization. Job satisfaction is very important for the employees and employees are the big assets among all assets in the organization. Human resources management activities are very important for achieving the organization’s goals and maintaining the competitive and cooperative advantage among the organization. HRM activities refer to organizational functions directed at managing, balancing, developing and maintaining the pool of human resource and ensuring that the human and physical resources and the organizational activities are aimed at employed towards the fulfillment of organizational goals and objectives and expectation (Schuler & Jackson 1987). Human resource management activities are the essential tools for management of people within the internal environment of an organizations, comprises the activities, policies, strategy and practices are involved in planning, organization, leading, commanding and co-ordaining and cooperating, obtaining, developing, utilizing, evaluating, maintaining, balancing and retaining the appropriate numbers of workers and employees and skill mix of employees to attain the organization’s goals and objectives (Appelbaum 2001). Presently organizations are competing through implementing the unique HRM practices and due to the globalization and modern changing pattern the organizations adopt the most up-to-date HRM practices in order to accomplish the organizational goals. Best HRM practices are always helpful and advantageous for both employee and employers; it plays an important role in constructive growth of the organization.

2. Background of the Study

Investment Corporation of Bangladesh is an investment company operated by the Government of Bangladesh. This organization plays a vital role in developing and marinating the capital market. It also offers asset management and merchant banking services. The human resource management department has consistently faced a battle in identifying and managing its position in organizations. When the organization has a lot of fund and this fund is utilized in selection, identifying and analyzing and recruitments, staffing, budgeting and communication and co-operation within the organization, but when faced with financial difficulties, such HR systems get the earliest attention in this field. The relationship between HR and organizational performance will help the HR specialists to design programs that will bring forth better operational and organizational results to attain higher organizational performance and organizational commitment and so forth. The main attention of the HR management department should be to understand organizational performance processes and design HR practices that influence process and outcome variables.

3. Statement of the Problem

Bangladesh is a developing country and its population is very high. It is a big asset of any country of the world. If it can be used properly it will possible to make a great success of any arena. In any organization human resource the continuation of production is not possible at all. In modern civilization is very complex in regard of competition and low standardization of product and quality. In our organization, there are many things which is lack in the organization. Human resource management practices are very important for maintaining and standardizing the employees with a view to attaining the organizational goal. The HR planning which is acute problem in our country. Job design, job analysis and job specification should be done to make the job attractive to the employees. A favorable work environment is very important. Environment is related with mind and sound position of the company. The management should think about the right man for the right job. The job evaluation should also done to compare the level of job with one job to another job. The organization should maintain the faire treatment for the all employees equally. Job satisfaction has a big impact on the job performances. The all kinds of facilitates should be provided to the employees to maintain their certain level of satisfaction. When satisfaction high the employee absenteeism and turnover will be low. In our organization the employee dissatisfaction is a big problem and how we can eliminate it that our efforts to our study.

4. Objectives of the Study

The objective of the study is to measure the casual relationship between Human Resource management practices and organizational performance with job satisfaction, employee turnover and absenteeism throughout the organization.

a. To highlight the overall Human Resource management practices.

b. To review the HR policy of the organization.

c. To focus on the performances with the expectation.

d. To analyze the relationship between performance parameters with HR Parameters. (Employee recruitment process and selection, placement, compensation, benefits, resignation, disciplinary action and training & development).

e. To evaluate the HR effectiveness with the employee productivity.

f. To make some suggestions based on findings.

5. Literature Review

Human Resources Management practices

Manning (2010) expressed in his research paper entitled “Review of Management of Business and Human Resource” to review the management, business and human resources literature to identify concepts and strategies to develop the nature of human resource management and how it make the function of human resource more utilize in developing the organizational and operational function in a specific work and how relates the decision making abilities to understand the concepts of team work and how the team work more motivates the employees and the organizational objectives towards the organization and developing the function of the organizations. Fogleman said in his research paper entitled “Everything You need to Know about Human Resource Management…But were Afraid to Ask.” He suggested that to make a strong relation among the human resource of an organization needs to analyze the some steps to make the strong component of the human resource. To the analyzes that who will be the worker and which work he will do in the future and what qualification is needed for that the work. It is important to continually review job descriptions because they should involve the with the position, power, authority and the employee. He told job analysis, job description, Hiring, Orientation and training, Performance appraisal, Compensation and Discipline.

Motivation and Performances:

Motivation is the process of stimulating the someone to take a desired course of action and motivation is related with the production. Motivation is related with the production and productivity. Motivation is always goal-oriented and goal achieving target. Motivation helps the employees to get the best potential and talents from the pool of potential and outcomes. The employer is always trying to make a good relationship with the employees with a view to attaining the organizational goal and objectives. Without proper motivation the organization will not be possible to gain the target. According to Webster’s New Collegiate Dictionary, a motive is “something a need or desire that causes a person to act”. “Motivate, in turn, means “to provide with a motive,” and motivation is defined as “the act or process of motivating”. Consequently, motivation is the performance or procedure of presenting an intention that origin a person to capture some accomplishment (Shanks. N. H.). According to Butkus & Green (1999), motivation is derived from the word “motivate”, means to move, push or influence to proceed for fulfilling a want (Kalimullah et al, 2010). Bartol and Martin (1998) describe motivation as a power that strengthens behavior, gives route to behavior, and triggers the tendency to continue (Farhad et al, 2011). This explanation identifies that in order to attain assured targets; individuals must be satisfactorily energetic and be clear about their destinations. In view of Bedeian, (1993) it is an internal drives to satisfy an unsatisfied need and the will to accomplish. Motivation is a procedure that initiates through a physiological or psychological want that stimulates a performance that is intended at an objective. It is the concluding product of interface among personality behavior and organizational distinctiveness (IRCO).

Figure 1. How motivation impacts the job performances

It symbolizes those psychological procedures that foundations the stimulation, route, and determination of deliberate actions that are target oriented (Farhad et al, 2011). Also motivation is a progression of moving and supporting goal-directed behavior (Chowdhury. M.S, 2007). It is an internal strength that drives individuals to pull off personal and organizational goals (Reena et al, 2009). Motivation is a set of courses concerned with a kid of strength that boosts performance and directs towards accomplishing some definite targets (Kalimullah et al, 2010). According to Barron (1983), it is an accrual of diverse routes which manipulate and express our activities to attain some particular ambitions (Rizwan et al, 2010). Porter and miles (1974) proved that the motivation boosts expresses and continues conduct (Khadim et al). The motivation of an individual envelops all the motives for which he selects to operate in a definite approach (Lefter et al). In fact motivation is “inside another person’s head and heart” (Khadim et al). Motivation is the driving force of an organization when an employee is derived to attain goal of an organization. It is concerned with the factors that influence people to behave in certain ways.

Where, p=performance, f = function, A = Ability and M=motivation.

Compensation packages:

Compensation is related with the salary, wages and remuneration. A good compensation package is very important for maintaining the employee’s satisfactory level and compensation is the nothing but the sum total of remuneration and paid for the physical labor and efforts. The manager and the employer should determine such level of salary and wages for the worker who works in the organization or the financial institution. They are liable to introduce the different kinds of profit sharing plan and which makes them more sensible to their profession and professionalism. The incremental system is different from one organization to the other organization or person to person. The compensation packages is with the two ways in one is financial packages and non-financial ways. The employees are very much encouraged to know the compensation level of the employees.

Figure 2. Relationship between compensation, job performances and motivation

To determine compensation, organizations should develop a compensation and rewards program. This type of program outlines an equitable process for compensating employees. A well-structured program with a good balance of wages, benefits and rewards will support an organization to remain competitive in today's labour market and ensure sustainability in the future. Employee compensation refers to the benefits (cash, vacation, etc.) that an employee receives in exchange for the service they provide to their employer. Employee compensation is generally one of the largest costs or expenses for any organization. Compensation is the total of all rewards provided to employees in return for their services. Compensation refers to all forms of financial, tangible services and benefits employed receive as a part of an employment relationship. A good compensation package helps to retain the qualified employees and increasing the productivity of an organization. Compensation includes the Extrinsic and Intrinsic rewards. In the extrinsic rewards includes Hourly wage, salary, Bonus, Commissions, Pay incentives, Insurance, retirement, paid vacation, paid holidays, food services, credit unions and recreation etc. In the intrinsic rewards includes reorganization, promotion opportunities, working conditions and interesting work. Approximately 92% of the working population in the United States is made of employees earning compensation from their employer. There are many different types of compensation paid to employees. The following are a few examples of the compensation paid to employees: Compensation is to provide something good as a against something bad or undesirable: to make up for some defect or weakness, Merriam Dictionary (2001).

Training and development

Training and development is related with improvement or advancement of the job or job holder’s responsibility. Training is the best way of getting something new and new idea, concept and Knowledge. Training is the provision of getting the skilled knowledge and skills whatever to increase the level of responsibility. Training provides the general guidelines to employees for doing the work or accomplishing the organizational objectives. Training is a systematic process of changing the behavior, knowledge and/or motivation of present employees to improve the match between employee characteristics and employment requirement. Training is the process by which employees learn skills, techniques, information and behaviors needed to do their specific tasks or jobs. According to M. Armstrong- "Training is the systematic development of knowledge, skill and attitudes required by an individual to perform adequately a given task or job".

Figure 3. Training and development impacts on the job performancess and motivation

Training is socialize the workers to the introduction of the organization and objectives of the organnizstion. There is positive relationship between the employee's performance recognize and evaluation and training and motivation. Training is focusing on fixing a specific issue (Doyle, 1997). Training is anything offering learning experience (Paul & Anantharaman, 2003) Training is highly related with motivation and Motivation is highly related with the production and productivity of the organization. When the workers get the training and the potentiality of worker is getting increased day by day. Training is related with the production and productivity and organizational commitment. Human resource management regards training and development as a function concerned with organizational activity aimed at bettering the job performance of individuals and groups in organizational settings. Training and development can be described as "an educational process which involves the sharpening of skills, concepts, changing of attitude and gaining more knowledge to enhance the performance of employees" (Kashmir Observer. Retrieved 2016) The field has gone by several names, including "Human Resource Development", "Human Capital Development" and "Learning and Development". And when the training is provided to the employees the ultimate benefits goes the employers or the organization such as increasing the production and productivity, less supervision, More job satisfaction and less turnover with low abestieesm and also it helps the skill development of the employees.

Performance appraisal

Performance appraisal means evaluating as employee’s current and past performance relative to his or her performance standards. Performance appraisal helps to evaluate the employee’s productivity of the organization. When an organization evaluates the employees performance then he can decide that who is the best performer and who are the capable of promotion. A performance appraisal is a systematic and annual or periodic process and ways of assessing the value of an individual employee's job performance, Job production, Job rotation and productivity in relation to certain pre-established criteria and organizational objectives where it is pre-determined and pre-settled goals (Manasa, K. & Reddy, N. (2009).

Figure 4. Relationship between job performances evalution with the job satisfactiona and turnover

Job Satisfaction, Absenteeism and turnover

Human resource management is the vital part of production sector of any organization. Without human resource, the vehicle of production will not run in the organization. So without any confusion we can easily confess that HR is the best resource among the all resources (Man, Machine, Money, Method, materials and market) of the organization. Every human being is derived by the nature who intends to do in his profession or career. Moreover, Job satisfaction and production are goes in a one way, when the production is high; it means that satisfaction level is high. So production is dependable variable where the job satisfaction is independent variable job satisfaction is generally believed a higher job satisfaction is associated with increased productivity, lower absenteeism, and lower employee turnover (Hackman & Oldham, 1975). Now a days the number of people of turnover is increasing daby by day because of employee job dissatisfaction and raising the job competition among the various companies and the organization. If the employee are not satisfied with what they are want from their job but they are not getting it easily so finally they will leave the organization and absenteeism rate will be increased in the organization. Rewards play a vital role in determining the significant performance in job and it is positively associated with the process of motivation. Lawler (2003) argued that there are two factors which determine how much a reward is attractive, first is the amount of reward which is given and the second is the weightage an individual gives to a certain reward. Deeprose (1994, p. 3) is of the view that “Good managers recognize people by doing things that acknowledge their accomplishments and they reward people by giving them something tangible.”

Some previous research (the impacts of human resource on job satisfaction and job performances):

Manisha et.al (2011) said in his research paper that Entitled “Title Human Resource Outsourcing: Analysis Based on Literature survey”. The idea of researcher in his research paper regarding the outsourcing of the human resource of the organization and also told that there are some steps regarding the outsourcing of the human resources. He examined all the functions being considered for Outsourcing, Create a business case for outsourcing seek a vendor that will work very closely with you Company, Make certain in your connect with the vendor and businessmen includes penalty clauses and incentives to increase accountability, Considering at the employees and working people in our organization will measure vendor Performance Learn about security protections the vendor provides.

Markus Pudelko et. al (2009) he Said in his research paper Entitled “Human Resource Management: Inspirations from Abroad and Current Trends of change” observed that human resource management (HRM) has been perceived by many observers as a key ingredient accounting, management, human resource management, psychology and marketing for the success of Japanese companies on world markets during the 1980s. Suggestions of how Western managers could learn from Japanese HRM practices were plentiful and working more hard and how the people are more interactively working in the organization. He analyses the data collection and sample, description of HRM model, who adopts from whom and when, who adopts what from whom, who adopts from whom and when and also who adopts what from whom etc.

Timothy et. al (2005) their research was exposed regarding that entitled “Strategic Global Human Resource Management Research In The Twenty First Century: An Endorsement of the Mixed-Method Research Methodology” said that global competition is rapidly becoming the norm in which nearly all business organizations must compete in one fashion or another and they have to compete with each other to survive in the long run. When the competition is more among the business venture the people are compelled to main the standard of human resource management. The complexity and value of Strategic Global Human Resource Management (SGHRM) will continue to compound in significance as globalization becomes the predominate form of business. In the business industry when the competition is acute then the benchmarking in the strategic human resource management will be more effective and sub contracting will be more in business, automobiles and engineering industries.

Figure 5. Shows the relationship between job satisfacton on absentiseem and turnover

Mohan et.al. said their research that Title “Evolution of Human Resource Management and Human Resource Information Systems” leading management thinkers suggest that “it is not technology, but the art of human and humane-management” that is challenge for the managers and to level management in the 21st century future economic and strategic advantage will rest with the organizations that can most effectively attract, develop and retain a diverse group of the best and the brightest human talent in the market place and the market will be more sustainable in the long run and development will be happened for the managers to all. In a growing number of organizations human resources are now viewed as a source of competitive advantage. There is greater recognition that distinctive competencies are obtained through highly developed employee skills, distinctive organizational cultures, management processes and systems.

6. Theoretical Investigation of HRM

Concept of Human Resource Management

Human resource management is the process of acquiring, training. appraising & compensating employees & of attending to their labor relations, health & safety & fairness concerns .

Human resource management can be defined as a set of interrelated and integrated functions, processes and systems that focus on the effective utilization of people working in an organization with strategic, coherent and unified approaches to achieve the goal of the organization as well as the goals and needs of its individual employee. Human resources are the assets of an organization. They run the organization properly. They are the key factors of the organization. Human Resource Management is concerned with the ‘people’ dimension in management, skill, motivation them to high levels of performance and ensuring that they continue to maintain their commitment to the organization are essential to a achieving organizational objectives.

Job analysis and Job design

Job analysis is the systematic method of investigating. The tasks, duties, skills and knowledge required for performing jobs in the organization and Job design is the process of determining and systematically arranging the tasks, roles and other processes into work that are required to perform a specific job.

Recruitment

Recruitment is the process of finding and attracting qualified individual in sufficient numbers and encouraging them to apply for job position within the organization. It refers the process of locating and encouraging potential applicants to apply for existing or anticipated job opening. Recruiting encompasses decisions about choosing (1) Communication methods, (2) Recruiters, (3) Recruitment messages, and (4) Required applicant qualifications. Obviously, recruiting takes place both when employers search for candidates outside the organization (external recruiting) and inside the organization internal recruiting.

Employee Effectiveness and Efficiency

The effectiveness and efficiency of the HR policy determines the morale of the employees. Morale is the sate of mental health morale is high that is why ICB is happy with his work, his surroundings and his fellow-beings. High morale indicates the efficiency and effectiveness of human resource personnel administration.

Figure 6

Management Development: Management Development is the is process of systematic process of developing the experience, skills, knowledge, attitude and abilities required to become or become an effective manager.

7. Methodology of the Study

The present study is an exploratory research seeks to examine and analyze the impact of human resource management practices on job satisfaction of specialized public sector banking employees. For the present study ICB an autonomous Investment Bank a leading public sector is taken as case study. The sample units include executives, middle level managers and managers of ICB Investment Bank. For the study 40 respondents were contacted for obtaining the information regarding HRM practices. But due to busy time schedules of bank employee and their engagement in various activities the numbers of respondents were restricted up to 30. For obtaining the required information interview method is used and structured schedule is filled by the researcher.

8. Data Analysis an Interpretation

This portion of the research paper will focus on the analysis and interpretation of data that was collected for this study. According to De Vos (1998:203), Data analysis entails that the analyst break down data into constituent parts to obtain answer to the research questions and to test hypotheses .The analysis of research data doesn’t in its own provide the answer to the research question. When I assigned to collect the information of the investment corporation of Bangladesh, I tried my best level to collect the data about their working hours, work environment, wage and compensation, training and performance appraisal. To collect the information I have survey through a questionnaire and having the questionnaire I have used the statistical tools to analyze the response of the respondent. According to their response I have prepared the frequency table, descriptive Statistics, T-test and correlation etc.

Of the 40 questionnaires printed and distributed, 30 were returned (a response rate of 93.33%). Of these, 2 were incomplete, thus 28 questionnaires were available for analysis. Quantitative data from the returned questionnaires were coded and entered into a Microsoft Excel spreadsheet (Microsoft Office, 2007). The statistical software SPSS version 16.0 was used to analyze the generated data. Descriptive and inferential statistical analyses were employed. Data were also summarized using graphic presentations for the interpretation of findings. Statistics were based on percentages and frequencies. Association between socio-demographic characteristics and job satisfaction, as well as comparison of the level of job satisfaction between categories of health care professionals, was assessed for statistical significance using the ‘chi-square’ test of association. Factors influencing job satisfaction were also determined using the student t-test. The relationship between dimensions of job satisfaction was measured using Pearson correlations.

Statistical Tools of Data Analysis

The study is based on the data collected to measure the employee perception and satisfaction for assessing their QWL. Perception of the employee has been judged through 5-point, Likert scale that is a numerical and more specifically, interval-scaled data. The corresponding probability distribution of this numerical data point will be a continuous distribution but as the data has informed us about the perception of the employee through ranking, the parent distribution may not be the normal distribution.

Outcome of the table: From the descriptive table we conclude that our respondent is 30 and no missing value and the minimum number is 1, 2, 3, 4, 5 (strongly disagree and strongly agree) that means maximum number is 5 and mean is the average of all numbers that is shown in the previous and standard deviation is mostly .0000 so from the discussion we may reach a decision that is the our performance level is good and there is no standard deviation. This table is applicable for the measuring the productivity of an organization.

9. Findings of the Study

Major observations from the derived tables and analysis are given below:

Descriptive table

From the descriptive table we conclude that our respondent is 30 and no missing value and the minimum number is 1, 2,3,4,5 (strongly disagree and strongly agree) that means maximum number is 5 and mean is the average of all numbers that is shown in the previous and standard deviation is mostly .0000 so from the discussion we may reach a decision that is the our performance level is good and there is no standard deviation. This table is applicable for the measuring the productivity of an organization.

T-test Table

• Table-1 (One simple statistics), Here number is 30 and no missing value and mean is acceptable and outcome of standard deviation is zero for that it cannot be calculated.

• T- test table-2(one sample test), From the description, we may easily that our lower and higher test value is(1.795 to 55.931), df is 29 and significance two tailed is .0000 and mean difference is average the 3.000 with the 95% confidence level of the upper and lower difference.

The literature and various studies concluded that factors: empowerment and recognition have positive effect on employee motivation. More the empowerment and recognition of employees in an organization is increased, more will their motivation to work will enhance. Also there exists a positive relationship between employee motivation and organizational effectiveness. The more the employees are motive to tasks accomplishment higher will the organizational performance and success.

10. Recommendations

The impact of HRM practices and organizational performance in banking sector that has a huge study area, with our time limitless, we are doing work for better. This study will be helpful for all banks who do not perform HRM practices. HRM practices and policies, HRM Planning and control directly impact on organization performance. Those performances are measured by different performance management scale and performance process. So that this study must be helpful in banking sector although this study has some limitations and obligation and those study is very helpful for the organization and the individual. We can take positive site then the study will be more attractive towards all bankers who want more success. Human resource (HR) function is an important function contributing to the well-being of the organization. In the present days, HR manager and expert played the role of burdened with the responsibility to look after the day-to-day operational and mean whereby it plays a main role in devising strategies and policy for the company together with other top level managers and the organizational point of view. Therefore, the purpose of this study is to provide preliminary information and to initiate more rigorous research on HR role and new research conduct and ways of behaving with each other. It would certainly help researchers, academicians, institutional and organizational practitioners and outcomes that would provide hints for future research in HR role and HR functions in the field of Research study.

Future study of the research

The importance of effective "Human Resource Department" are increasing gradually, Efficient HRD system of management is being demanded now in the investment sector in Bangladesh. It can be said that with a view to fulfilling the desire of the investment and of the society in ever changing environment, ICB has got to be remodeled to work efficiently. It needs capable human resources and enabling culture for efficient work. The study focuses on the practice and observance of the two central factors, Job satisfaction, Job performances and reducing the employee turnover for enhancing employee motivation which leads to organizational effectiveness. The organizations should design their rules, policies and organizational structures that give space to the employee to work well and appreciate them on their tasks fulfillment and achievements. This will surely lead to organizational growth.

Suggestion and improvement

As the human resource is the vital part of any organization so we should give the more attention to them. We believe in the modern civilization. The civilization is full of competition with each other. If human resource gets the proper treatment from the side of employer he or she decides to stay in the organization more. Our production system is on the basis of manual or labor. We should take care of them. The employee should get the proper cooperation from the employer and suggestion from the work unit. There should have the research and development department in the every organization. The employee should receive the proper training and development from their work unit and employer. If the employer gives the employee more opportunities and give the active part of decision making regarding the business decision and business opportunities that will be very helpful to the employees and it will retain them to the organization and it will reduce he absenteeism and turnover. When the employee will receive these facilities than they easily stay in the factory or organization whenever he likes it will improve them very much.

11. Conclusions

Motivation is very essential elements and without motivation the success of the organization is impossible and production and productivity is related with the motivation. The organization is try to make a relationship between the motivation and job performances. We have try to make a relationship of job performances to the job satisfaction of the employees and employees who are the main resources of the organization and organization converts the resources into the assets and assets are the long term resources in the organization. We have tried to show the impacts on the performances appraisal on the job performances and what factors are considered in the organization that evaluates the job performances. Training and development is also impacts the job performances and training is directly or indirectly related with job satisfaction. Without training employee development will not possible. The top level management should main the level faire treatment for the employees. Our study also tried to show the contribution of recruitment and selection for the development of the employee attitude and morale. Compensation packages should be provided fairly and cleanly. We have the made the study whether the employee are satisfied or not with the reasonable compensation packages or not. Our study explores the connection of the employee satisfaction to other factors of the production. There are various research study shows the findings of the research.