Work-Life Balance Issues of a Commercial Bank

1. Introduction

Mercantile Bank Limited emerged as a new commercial bank to provide efficient banking services and to contribute socio-economic development of the country. The Bank commenced its operation on June 2, 1999.The Bank provides a broad range of financial services to its customers and corporate clients. The Board of Directors consists of eminent personalities from the realm of commerce and industries of the country.

Mercantile Bank Limited (MBL) is considered as third generation bank extending full range of banking facilities by providing efficient, friendly and modern fully automated on-line service on a profitable basis. Since its inception, it has introduced fully integrated online banking service to provide all kinds of banking facilities from any of its conveniently located branches.

This organization wants to mix profit and social responsibility together and as such serve the people of the nation. The concept of Mercantile Bank Limited (MBL) is also based on helping deprived people and at the same time making profit by providing top class financial services.

For this reason loan portfolio of this bank is dedicated towards small and medium enterprises. It has been found that there exists a segment of people who do not have access to capital but if fund is given to them, they can excel in their own small and medium businesses and as such contribute in the development of the economy.

One other specialty of Mercantile Bank Limited is to disburse remittance anywhere within the country within limited possible time through arrangement with Western Union and SWIFT for its remittance services.

1.1: Vision

“Would make finest corporate citizen.”

1.2: Mission

“Will become most caring, focused for equitable growth based on diversified deployment of resources, and nevertheless would remain healthy and gainfully profitable Bank.”

1.3: Core values

      For the customers: providing with caring services by being innovative in the development of new banking products and services.

      For the shareholders: maximizing wealth of the Bank.

      For the employees: respecting worth and dignity of individual employees devoting their energies for the progress of the Bank.

      For the community: Strengthening the corporate values and taking environment and social risks and reward into account.

     
New technology: Adopting the state-of-the art technology in banking operations.

2. Conceptual Framework

2.1: Origin of Study

This internship report was assigned as a partial requirement for the completion of the BBA Program of North South University. The intention was to give an opportunity to the students to gain some real world experience by working in a practical environment. For my internship I was placed in Mercantile Bank Limited, Sylhet Branch and for my report I have collected information from the Human Resource Policy (revised manual-2011) of MBL and their annual report 2011. During my internship period my supervisor was Mr. Debojyoti Mojumder who is Assistant vice president and manager operation of Sylhet branch, and my Faculty Advisor was Mr. Muhammad Faisol Chowdhury, Lecturer of School of Business, North South University.

Work-life balance is a combination of interactions among different spheres of one’s life, the advantages and disadvantages associated with that balance/imbalance can affect multiple levels of society and also in human life. The disadvantages associated with work-life imbalances are numerous and impact both employee and employer. For the employee, consequences can have a negative impact on work and life satisfaction, on well-being, mental health, and physical health and on individual performance in organizations. So it is essential to have a better balanced work-life.

2.2: Objective of the Study

   I have prepared this report based on two purposes:

2.2.1 Primary Objective:

The report aims to provide information on the issues that make work-life balanced and how this is followed by the employees and employers of Mercantile Bank Limited.

2.2.2 Secondary Objective:

      The main purpose of this report is to present the findings of a bank-wide audit that was carried out to gain information on staff experience of work-life balance policies and practices at Mercantile Bank Limited. The audit was conducted through a staff survey.

      MBL considers their employee as an asset. For having an effective and valuable asset they always try to motivate their employees. MBL upper level management thinks about their employee conditions. This is important to know the meaning of work-life balance in context of employment.

      Since they hire people through many comprehensible and clear assessments, they have good intellect property as their workforce. They have not directly mentioned work-life balance policy in their policy manual but employees get all the opportunities regarding this issue. So another one is to focus on work-life balance policy maintained by human resource department of MBL.  

      Find out the significance of work-balance policies and practices for the employees and employers of Mercantile Bank Limited.

      Another objective is to focus on the findings of the survey and come up with some solutions for development of company’s work-life balance policy implementation.

2.3: Scope of the Study:

There is a certain boundary to cover this report. This particular report only covers work-life balanced issues that actually practiced in Mercantile Bank Limited. Mainly I focused on all the employees of Mercantile Bank Limited Sylhet Branch. And I also talked with the Senior Vice President who is the Branch Manager of this Branch Mr. Imam Kabir Chowdhury and Assistant Vice President who is Manager Operation of this Branch Mr. Debojyoti Mojumder regarding work-life balance policy of MBL. There are 17 employees in this branch those are actively working and I surveyed among all the employees of this branch. Through Mercantile Bank Limited Human Resource Policy Manual I got lots of information that helped me a lot in making this report. As well as I gathered information through internet Mercantile Bank Limited official web-site. Moreover I got some confidential information which is not possible to disclose publicly, so those data and information had to be ignored for this report.

2.4: Methods

For making any report most of the data should be taken that reflect actual situation. For my report I have collected various types of primary and secondary data. In a disciplined way I can say that the report input were collected from two sources-

2.4.1 Primary sources:

For my Primary data, I went through face to face interview process and personal observation through several informal conversations. I interviewed 17 employees of MBL Sylhet branch to collect data and it was absolutely informal. I talked with them regarding their satisfaction, the opportunities that they are getting in MBL. They helped me a lot and through these conversations I got lots of information for my report.

2.4.2 Secondary sources:

               Mercantile Bank  Ltd. official web-site

               Human Resource Policy Manual ( Revised-2011)

               Agreement Policy

2.5: Limitations of the Study

I am lucky enough to get a chance to prepare a report on ―Work-Life Balanced Issues of Mercantile Bank Limited. I tried heart & soul to prepare a well-informed report. But unfortunately I faced some difficulties when preparing this report. I tried to overcome the difficulties. In spite of trying my level best, some difficulties that hamper our schedule report work:

 2.5.1 Shortage of time:

As per North South University BBA Program Internship Guideline, three months is the standard time. Within this short time, I need to prepare this internship reports as well as some other reports for as an intern in Mercantile Bank Limited. For this reason, I could not get a fluent time schedule for the report.

 2.5.2 Limitation of related with the organization:

In Sylhet there is only one branch of Mercantile Bank Limited. That’s why employees of this branch always have tremendous work pressure. So they were too busy because of their work. For this, they did not give sufficient time to fulfill our queries.

2.5.3 Difficulty in collecting data:

Many employers of the organization were not well known about all information that I asked them. Many of them also hesitated to answer the questions. These things hampered the information collection.  

2.5.4 Confidential data:

I got some confidential data which is not possible to disclose publicly, so those data and information had to be ignored for this report.

3. Literature Review

3.1: Work-Life Balance

The term work-life balance is commonly used as a more comprehensive expression to describe policies that have been previously termed 'family-friendly', but are now extended beyond the scope of the family. Work-life balance refers to the flexible working arrangements that allow both parents and non-parents to avail of working arrangements that provide a balance between work responsibilities and personal responsibilities. The term ‘work-life balance’ is preferred due to the fact that it encompasses the experiences and needs of parents and non-parents alike, and is a more progressive theoretical framework in which to think about new ways of living and working that are satisfactory to all.

3.2: Importance of Work-Life balanced issues for the employees and employers

Since employers and employees are the human asset for any organization, so it is important to make them satisfied in all aspects. The adoption of work-life balance policies and practices can improve an organization’s ability to respond to customers’ demands for increased access to services and deal with changes in a way that can be satisfactory to both employers and employees.

This can also suggests that employers who support a work-life balance culture and offer flexible working arrangements are likely to have a competitive advantage in the labor market in particular in relation to the new generation of employees.

3.3: Developing Work-Life balanced issues

Work-life balance is the term used in the literature to refer to policies that strive to achieve greater complementarities and balance between work and home responsibilities. These policies apply to all workers, not just working parents, and their presence or absence in an organization may have an effect on those facing a crisis pregnancy, particularly in judging their own ability to combine both work and family life. Some of the terms used in the literature on work-life balance are not commonly used or may be unfamiliar, thus explanations and definitions are given below:

      WLB: Work-life Balance also referred to as family friendly work arrangements (FFWA), and, in international literature, as alternative work arrangements (AWA).

      V-Time: This is voluntary overtime to meet production needs; extra hours are 'banked' and taken as time off or as extra pay. It differs from flexi time where starting and finishing times are staggered, and can mean reduced or increased weekly working hours over a period of time.

      Zero hours contract: This is a flexible contract that does not specify the amount of time a worker will spend per year on their employment, leaving it open to meet demand.

      E-working: The term used to describe flexible working that can be done from any location using technologies such as laptops, wireless internet connection and mobile phones.

      Tele working: This is where the location is flexible by using technologies to complete work - this allows work to be done from home; also known as e-working. Term-time working: this is when a parent is allowed to work only during school term times, with all school holidays off. Payment can be calculated either by usual payment, with no payment during holidays, or salaries can be spread out across the year.

Other forms of flexible working conditions include:

               Part-time working

               Job sharing

               Flexible time

               Shift working

               Annualized hours

               Compressed hours

               Home working

Career breaks

Study leave.

3.4: Effective Issues of Work-Life Balance

      I have already mentioned that there is no work-life balance policy written in the Human Resource Policy manual of MBL. But all the employees of Mercantile Bank Limited get opportunities to make their work life and personal life balanced. They get all the flexibility in their work place. This is generally practiced in all the branches of MBL. If employees want they can come late to the office and can go earlier before the actual time but for this they must have valid and strong reason.

      Now a day’s not all the bank give these type of flexibility to their employees and employers. For the growth of organization it is essential to make employees satisfied. Employees of MBL are satisfied in this aspect. This is clearly said by the Chairman of Mercantile Bank Limited Mr. Abdul Jalil Chowdhury (M.P) to HRD of MBL that if anyone wants to transfer anywhere for his/her family he/she will get this opportunity. So it is a great competitive advantage for Mercantile Bank Limited in current labor market.

4. Analysis

4.1MOST

Mission

“Will become most caring, focused for equitable growth based on diversified deployment of resources, and nevertheless would remain healthy and gainfully profitable Bank.”

Mercantile Bank Limited has obtained effective strategy and efficient workforce. With the help of these two essential elements MBL has been giving services to their valued customer. It has become a trustworthy and reliable bank in current competitive market.

Objective

Strategic Objectives:

      To achieve positive Economic Value Added (EVA) each year.

      To be market leader in product innovation.

      To be one of the top three Financial Institutions in Bangladesh in terms of cost efficiency.

      To be one of the top five Financial Institutions in Bangladesh in terms of market share in all significant market segments it serves.

Financial Objectives:

      To achieve a return on shareholders’ equity of 20% or more, on average.

Strategies

      To strive for customers best satisfaction & earn their confidence.

      To manage & operate the Bank in the most effective manner.

      To identify customers needs & monitor their perception towards meeting those requirements.

      To review & updates policies, procedures & practices to enhance the ability to extend better services to the customers

      To train & develop all employees & provide them adequate resources so that the customer’s needs are reasonably addressed

      To promote organizational efficiency by communicating company plans, polices & procedures openly to the employees in a timely fashion.

      To cultivate a congenial working environment. To diversify portfolio both the retail & wholesale markets.

Tactics

Introduce new and competitive products:

Mercantile Bank Limited constantly tries to come up with new products and services and tries to refine its existing products. They design the products that are fully compatible to the individual customer needs.

Refine the interest rate:

Mercantile Bank Limited regularly refines the interest rate of their saving schemes and loans and make sure that it is within the range and preference of its customers.

Provide high standard customer service:

Mercantile Bank Limited frequently promotes customer service by providing its staffs with extra incentives. There are guidelines regarding the behavior to the customer and the level of customer service. Mercantile Bank Limited sends auditors in every branch who provide report about the service quality of each branch and staffs are provided with reward or penalty according to their performance.

Training of the staffs:

The staffs of Mercantile Bank Limited get special training to improve their customer service. In every two or three months, small training and meeting sessions take place where the staffs get feedback about their customer service.

Compliance with foreign exchange policy of Bangladesh bank:

Mercantile Bank Limited makes sure that all the foreign trade services and the movements of inward and outward remittance are done under the guideline of foreign exchange policy provided by Bangladesh Bank.

CSR Tactics:

MBL’s corporate social responsibility (CSR) focuses on the following areas:

      Education for underprivileged children;

      Assistance for the disabled/needy; and

      Support for the environment.

Promotion:

This part of the marketing department deals with all the promotional activities of Mercantile Bank Limited. Prime responsibilities of this department are: Maintaining strong public relations with various media intermediaries, advertising the company’s products and services, building a strong corporate image of Mercantile Bank Limited.

Public Relations:

The marketing department of MBL organizes various environmental and social activities in order to build a strong corporate image of Mercantile Bank Limited in the minds of customers as well as in the media. Maintaining strong relationship with news media is another major duty of this department.

Advertising:

Newspapers Advertising: Regular advertisements of various services of Mercantile Bank Limited are given in some of the countries most renowned daily newspapers.

In addition to these tactics Mercantile Bank Limited tries to regain these problems under the shadow of law. They deal with these problems very carefully. Now the bank is too much concerned about giving loans to the customers. The rules and regulations of the bank are now much strict than before.

4.2 SWOT

Strength

Dedicated & Efficient work force:

Mercantile Bank Limited has a dedicated &efficient workforce, which is one of the biggest strength for the bank. This efficient workforce helps the bank to achieve the bank’s objectives in terms of new branch opening, new product innovation for the customer. They do their best to help the bank to be one of the best banks in Bangladesh. They try to serve and deliver the best.

Excellent working environment:

The working environment of Mercantile Bank limited is very warm friendly. The employees are very friendly with one another and always willing to help each other. The top management is also very friendly with the middle and lower level managers. The healthy relation also helps the bank to achieve their goals and objectives.

Warm relationship with the customers:

The employees of the bank maintain a very healthy relation with the customers of the bank. The employees are always helpful and ever ready to solve any problems of the customers. The employees sometimes deliver personalized services to the customers. The ongoing relationship between the employees and the customers is an asset for the bank. The employees always help the customers to understand the bank procedures.

Introduced a variety of lucrative products:

Keeping the demand of the customers in mind, Mercantile Bank Limited has always tried to serve new, innovative and effective products to the customers. Mercantile Bank Limited frequently do market surveys to know what the customers want and try to serve according to that. The bank has launched many schemes to satisfy the need of different customers.

Network across the country:

Through the 61 branches, Mercantile Bank Limited has a very strong network throughout the country. Mercantile Bank Limited has a very strong network and is able serve the needs the demand of customers of the whole country.16

Weakness

Unable to implement branch banking yet: 

One of the biggest drawbacks of Mercantile Bank Limited is that the bank has not been able to implement any branch banking yet. Branch banking means operating banking activities such as accepting deposits or making loans at facilities away from a bank's home office. Mercantile Bank Limited’s main problem has been that the bank has a very strong control over its main branch but looses it when it comes to other branches specially those branches which are in remote places.

Alignment of HR policy is job based not skill based: 

Another problem of Mercantile Bank Limited is that the alignment of Human Resource policy is job based instead of being skill based. That makes a lot of deserving candidates demoralized. This policy is not good for the bank too. The bank can also suffer in the long run.

Decision making process is not as fast as expected:

A main problem of Mercantile Bank Limited is that the bank’s decision making process is not as fast as it should be. The top management of the bank takes suggestions from other managers. Sometimes confliction arises in making a decision. That makes the decision making process slow.

Unavailability of foreign training: 

Another weakness of Mercantile Bank Limited is the availability of foreign training in the bank. Foreign training is very important for employees, managers and for the bank too. They come to know how banking is done in abroad. That helps to develop the creativity and excellence of an employee or a worker. But, so far, Mercantile Bank Limited does not have foreign training.

Opportunities

Positive economic growth: 

Economic growth means A positive change in the level of  production of goods and services by a country over a certain period of time. Nominal growth is defined as economic growth including inflation, while real growth is nominal growth minus inflation. Economic growth is usually brought about by technological innovation and positive external forces. The positive economic growth of the country is a big opportunity for Mercantile Bank Limited. If the bank can use its resources well, Mercantile Bank Limited will be much benefited from this opportunity.

Exploration of new business avenues: 

Exploration of new business avenues is one of the biggest opportunities for Mercantile Bank Limited. New factories are continuously being established in Bangladesh. These factories are opening new doors of profit for the banks. Mercantile Bank Limited can allow them loans at higher interest rate and increase profit.

Expansion of credit operation: 

Expansion of credit operation in SME, agriculture & renewable energy sector is a very big opportunity for Mercantile Bank Limited. People in rural areas are taking loans from banks for SME and agricultural activities. If it has the needed resources, Mercantile Bank Limited should pounce upon the opportunity.

Bringing mass into the banking net: 

More and more people are entering into the banking net now-a-days. Mercantile Bank Limited should take the opportunity and bring mass into their banking net.

Corporate Philanthropy: 

To make their image more acceptable to mass, Mercantile Bank Limited must do social things. That will help their reputation they will be more acceptable by the mass.18

Threats:

Extreme competitive market: 

The banking market today is very tough and competitive. Competitors are very tough and competitive. Mercantile Bank Limited has a tough competition in the banking sector. The bank should continuously implement new plans to keep their place in the market.

Aggressive marketing policy: 

Aggressive marketing policy by the competitive banks is a big threat for Mercantile Bank Limited. Other banks are becoming very aggressive. Mercantile Bank Limited must think of a way to keep their place in the market.

Deposit rate Fluctuation:

Deposit rate in the central bank can fluctuate any time. This is a big threat for Mercantile Bank Limited.

4.3 PESTEL

Political Factors

Political culture of Bangladesh is not very much popular in this country. Hartal is one kind of political strike here, which is called by the opposition party of the government. During the strike every business and wheels of vehicles become stopped. Strike is one of the worst cultures in this country. MBL has to maintain a very tough scheduling during the strike days. It becomes tough to make transaction for both the employees and customers during this day. Eventually it makes a big loss for the organization.  

Economic Factors

Bangladesh is a country of high inflation rate. Inflation rate always affect every organization of this country especially banks are affected. They have created value for their consumers. Interest rate always fluctuates for this reason. Deposit schemes like MSS (Monthly Saving Scheme), FDR (Fixed deposit Scheme) etc required interest rate for the customer. Currently local banks cannot decide its interest rate. This is fixed up by the Bangladesh Bank and this will be followed by the entire bank industry in our country. There are other policies those are also fixed up by the Bangladesh Bank. Now the interest rate is 12.5% and for saving deposits its 6% for MBL. This 12.5% rate can be changed any time. It actually depends on money market.

Social Factors

Socially people are conservative and in many cases they are emotional. Generally people convinced with the new features and satisfied interest rate in bank industry. It is the main duty for any bank to make people satisfied with their service. But it is tough to read their mind. Sometimes they actually don’t know what they want. They have right to get better service always. So bank should concentrate on their service and the way through which they will provide it. Employee should be trained very effectively so that they can make their customer understand about their features. But sometimes it becomes tough for any bank to meet their target in a competitive market.

Technological Factors

Technological advancement is also important for any organization‘s achievement since new technology can be an effective weapon against inflation and recession. MBL has a very effective information and technological (IT) department. To sustain in a competitive market MBL has been using the latest technology. They have recruited very talented engineers for their operations. They use much updated software for their operations like PC Bank through which all the branches are internally connected and also connected with the main branch.

Environmental Factors

The whole world is increasingly experiencing the devastating effects of environmental changes for Green House affects due to global warming. The Bank is mindful of its responsibilities to the future generations by playing its part in promoting environmental awareness and in the conservation of the environment. The Bank takes environmental issues very cautiously while financing new projects. It finances only in those projects which are environment-friendly. Early detection of environmental risks is an integral part of credit appraisal system of the Bank. Ecological damage will sooner or later harm not only the society but also the Bank, in the form of loan losses or image problems. In this regard, the Bank participated by sending its officials in Foreign Training Program on 'Environmental Issues'. Issue of Green Banking is considering with utmost core in this Bank.

Legal factors:

These are related to the legal environment of the country. Different categories of law include:

      Consumer Laws: these are designed to protect customers against unfair practices such as misleading descriptions of the service.

      Competition Laws: these are aimed at protecting small bank against harassment by larger bank and ensuring customers are not exploited by banks with monopoly power.

      Employment Laws: these cover areas such as redundancy, dismissal, working hours and minimum take-home pay. They aim to protect employees against the abuse of power by management.

      Health and Safety Legislation: these laws are aimed at ensuring the workplace is as safe as is reasonably practical. They cover issues such as training, reporting accidents, healthy environment and the appropriate provision of safety equipment.

      Other laws to consider are discrimination law, employment law etc.

4.4 STEEPLED

STEEPLED Analysis stands for social, technological, economical, environmental, political, legal, educational and demographic factors. All those factors explained under PESTEL analysis except educational and demographic factors. These two factors explained below.

Educational Factors

MBL is continuing its supports to the education sector as before. Every year, scholarships are provided to the needy but brilliant students of different educational institutions. Children of the employees are also given scholarship for their brilliant results. The Bank also encourages the employees to have professional degrees.

 MBL gives opportunities to the employees who wish to get higher studies in abroad. The Bank provides cash money incentives to the employees who pass the Banking Diploma.

MBL has donated to Hicare School, Rajshahi for education and development of the deaf children as a part of its Corporate Social Responsibility. They are emerging more programs for education development.

Demographic Factors

There are 75 branches of MBL in Bangladesh and 1737 employees are actively working in these branches. MBL considers local employees for working in local branches for better performances. Female employees get opportunity for transfer as her family placement.

MBL considers this flexibility not only for employees but also for their better service. They posted their employees in local branches because they will understand their local language and culture.

All the employees of MBL both male and female get equal opportunity to maintain their family life. Customers of MBL also get same services in every branch. This is not differentiated in anywhere. Product of MBL is not affected by the location or by the people who works for MBL.   

5. Findings and Analysis of this project

      As an internee, I joined Mercantile Bank Limited, Bangladesh on 16 February, 2012 on Sylhet branch. My topic of the project was “Work-Life Balance issues of banking sector employees: A case of Mercantile Bank Limited.”. As I have mentioned earlier there are 17 employees in this branch and I have conducted my survey among all the employees of this branch except manager and manager operation.

      I made one set of questionnaire for conducting my survey. All the questions were related with their work life and daily family life. I have also included some questions regarding their work-life balance policy though in their HR policy manual this type of policy is not clearly written.

      After completion of the survey, I analyzed the data by using pie charts. There are 15 questions on a set. In this report I will not to show the analysis of all the questions. I will show analysis of ten questions as I believe findings from those questions will be very much beneficial for Mercantile Bank Limited.

      I have conducted my survey in every department like clearing, foreign remittance, cash, transfer, credit and foreign exchange department. All of them were very much helpful to this survey and they responded to every question very willingly.

      This has become a great help to me for making my report. I have also collected lots of information from them through informal conversation. Since this branch is outside Dhaka so the environment is very friendly. That’s why I did it without any difficulty.

      Employees of MBL are very much satisfied with their management and HR department. This is a great support for any organization especially for service oriented organization. Through my questionnaire I came to know about their attention to their work life and family life balance issues.

Question no 1: How many hours in a day do you spend traveling to work?

a) Less than half an hour
b) Nearly one hour
c) Nearly two hours
d) More than two hours

From the above data 33.33% employees said that they spend less than half an hour for travelling to work, 40% said they spend nearly one hour and 27% said they usually spend nearly two hours. Since this branch is not in Dhaka so employees of this branch can come to office without having any traffic jam. Sometimes they face it but it’s not that much extreme like Dhaka city.

5.1: Flexible management

      I am doing my project on work-life balanced issues of the entire banking sector employees of our country but I am preparing my report based on Mercantile Bank Limited, Bangladesh.

      Employees of MBL those are working in other branches in Dhaka everyday they have to face many difficulties like transportation problem, traffic jam etc. Usually they spend more than 2 hours to come to their office. Day by day it’s becoming very tough for people to lead their life in a regular way. In other regions except Dhaka city employees at least can come to their office on time if they don’t have any reason to come late. 

      MBL employees are allowed to come late in office but for this they must have to take permission from their immediate boss or branch manager or manager operation. This is only applicable for urgency not for usual time.

      Employees of MBL outside Dhaka can spend a large amount time with their family than the other branches of Dhaka city because they spend more time in travelling and a significant amount of time they spend on road from traffic jam. So they could not balance their work and family life in a normal way like other employees of MBL. It’s becoming tough for them to make it balanced. 

      MBL considers their employees as a valuable asset for their organization. So they treat their employees in a better way. Employees of MBL are highly satisfied with their organization, their upper level management and their various policies those are required to balance their work life and family or personal life.

      For improving business performance MBL developing organizational culture and for this they have developed their strategic HR department. Employees of the Bank play significant role in providing better customer service. So it’s their main duty to think about employee’s opportunities.

Question no 2: Being employed, who is helping you to take care of your children?

a) Spouse
b) In-laws
c) Parents
d) Servants

On this question 14% people responded that their spouses take care of their children and 7% responded in laws. 14% parents and 7% responded that servants take of their children. 

5.2: Take care of family

      Not all the employees have children but those who have children it’s a vital family issue for working people to take care of their children. Working spouse need to have helping people to take of their family and their children.

      I have included all the probable options in my survey questionnaire regarding this issue and 14% employees responded their wives take care of their children and 14% responded their families take care of their children in their absence.

      Generally servants take care of both the family and the children of working spouse if they do not live in a joint family. But now a day it is very unusual to live in a joint family. In this situation working people must have to have helping hand for their family maintenance.

Question no 3: How many hours in a day do you spend with your family?

a) Less than 2 hours
b) 2-4 hours
c) 4-6 hours
d) More than 6 hours

From above data here is 20% people responded that they spend more than 6 hours with their family, 54% spend 4 to 6 hours and another 27% employees said they usually spend 2 to 4 hours with their family.

5.3: Spending hours with family

      A family is a place where human being born and they grown up within the family’s values and environment. There are some fundamental elements which are actually required for having a wonderful family. Every member of a family should have contribution for it.

      Mercantile Bank Limited is very much friendly for their human asset. So that employees are pleased with their organization. Employees of MBL working inside Dhaka could not make that much time to spend with their family only for country’s terrible situation.

       If there is any emergency higher level management of MBL allow their employees in this kind of situation for their family. By this way employees can make their work life and family life balanced.

Question no 4: Do you generally feel you are able to balance your work-life?

a)                Yes

b)                 No

Here 94% employees said that they are balancing their work life and family life. Only one employee said which is 6% responded that he/she is unable to do that. So this can be taken as exception.

5.4: Balancing work life and family life

      Work life and personal both should be accepted as different areas. Employees should not have mixed up these two areas. When a person works in office he/she must have to concentrate on his/her respective work and on the other hand when he/she spends time with family they must have to take care of it.

      Employees of MBL get all kind of facilities which is required for balancing work life and their family life. That’s why in my survey most of the employees responded that they are satisfied in balancing their work life and family life.

Question no 5: How do you feel about the amount of time you spend at work?

a) Unhappy
b) Indifferent
c) Happy
d) Very happy

On this question 100% employees said that they do their job in their office with full of happiness.

They work 5 days in a week and sometimes employees of HR department and IT department have to work in weekend for extra work. But they do their respective job with full of cheerfulness.

5.5: Mind-set at work place

     In Mercantile Bank employees can do their work in a friendly environment. They have very much work pressure but they carry out with their job with full of happiness.

     MBL is 100% employee oriented organization and it considers employees as valuable asset. MBL management has made its culture and working environment according their employees requirements. That’s employees are pleased with their working environment.

      The employees of MBL are also very friendly with one another and always willing to help each other. The top management is also very friendly with the middle and lower level managers. The healthy relation also helps the bank to achieve their goals and objectives.

Question no 6: Do you ever feel tired or depressed because of work?

a) Never
b) Rarely
c) Often
d) Always

Here on this question 40% employee responded they often feel tired or depressed because of work, 46% responded they rarely feel tired, 14% responded they never feel tired and most important thing is 0% employee responded they always feel tired or depressed because of work.

5.6: Way of thinking about job

      As I have mentioned earlier MBL has most employee friendly environment. That’s why from my survey I got 0% response on the option whether they feel always tired or depressed because of work or not.

      It’s a great achievement for any organization to have their employee satisfaction. Employees of MBL do their job with full of happiness and they always try to make good dealing with their customer.

      This achievement will bring great success for this organization. In our country there is very much competitive market for banking sector and in this situation MBL is one of the most prominent and successful bank in their respective sector.

Question no 7:   Does your company have a separate policy for work-life balance?

a) Yes
b) No
c) Not aware

From above data 53% employees responded they have no separate work-life balance policy, 27% said yes they have and 20% responded not aware actually.

5.7: Separate policy for work-life balance issues

      I have already mentioned MBL has no clear written work-life balance policy. But indirectly employees of MBL have the benefit of this policy. Since Mercantile Bank is an employee oriented organization they are very careful about their employee’s facilities and their opportunities.

      Management team of MBL is extremely dedicated to their organization only for its support that generally employees get form it. This is clearly practiced in MBL; if anyone wants to transfer anywhere he/she will get this opportunity to transfer according to their necessities for his/her family.

      This might not be practiced in other organization but MBL always offer much effective facilities to their employees than the other commercial banks.

      MBL employees enjoy different kinds of leave like casual leave, maternity leave, sick leave, quarantine leave etc. If any employee suddenly face emergency he/she can work for ½ day. For this immediate supervisor needs to be informed and employee must have permission.

      Employees can also share job with their colleagues if person have any problem or any emergency. Beside this employees have also chance to leave office early if respective work in finished.

Question no 8: Do you personally feel any of the following will help you to balance your work life?

a) Flexible starting hours
b) Flexible finishing time
c) Flexible hours, in general
d) Job sharing

From above data 46% employees responded they are interested to share job with their colleague to make work-life balanced, 27% flexible office ending time, 27% flexible office hours in general.

5.8: Work-life balance issues

      Job-sharing is basically a form of part-time work that provides you with the equivalent of one full-time employee while giving the job-sharing employees the ability to keep their careers on track while allowing more time for family responsibilities or other activities.

       In case of emergency or urgent movement one can share job with colleague and employees of MBL practice this type of strategy. By doing this work will be done on time along with balancing other activities.

      Another thing is flexible ending time of office hour. If an employee finishes his/her work he/she can leave office in the early hours.

        

Question no 9: Do you feel work life balance policy in the organization should be customized to individual needs?

a) Strongly agree
b) Agree
c) Indifferent
d) Disagree

On this question employees agreed 53%, strongly agreed 33% and indifferent were 14% and 0% employees disagreed with this issue.

5.9: Customize work-life balance policy according to employee needs

      Employees should be the main fundamental of any organization because they work for the company. Organizations reach to its goal with the help of its employees. Employers should keep in mind before implementing work-life balance policy that this is for the employee’s satisfaction.

      The introduction of work-life balance policies should be equitable for all employees and it should be customized to individual needs. By implementing a work-life balance strategy employers can help to reduce stress in their employees. This can lead to a more motivated and loyal workforce, increased productivity, reduced absenteeism and it is also good for PR.

      The efficient work force of Mercantile Bank acts as the fundamental pillar to reach the Bank at today’s height of success. Employees work for company’s benefit and management should execute policy according to the employee needs.

Question no 10: Do you think that if employees have good work-life balance the organization will be more effective and successful?

a) Yes
b) No
If so how?

On this question 100% employees agreed that work-life balance has significant contribution on organization’s success. Organization’s effectiveness and successfulness depends on the employees and for this employees must have to be comfortable with their job life and family life.

5.10: Organizational success depends on work-life balance of employees

      An organization requires most dedicated and efficient workforce for its betterment. It will be possible if organization believe that their employees are their asset and management has to have policies which are essential for employee’s to make their work-life balanced perfectly.

        MBL employees are its asset and they are very much dedicated to their job. As a result MBL has achieved its success with the help of its employees and also its customers. Employees deal with the customer and also operate the whole company operation.

      So if employee feels good and feel comfortable with their job and their work place culture, facilities he/she will give outstanding feedback to the customer, will behave good with them and finally it affects the organization’s success.

      Work-life balance policy could be like flexible working hour, job sharing, tele working,

working from home, term-time hours, compressed hours and part-time working. Leave provision, for example, special leave for emergencies etc can be included.

      MBL does not have clear written work-life balance policy but all these facilities are given to their employees to make their work life and family life balanced. Employees of this organization perform well because they are happy with their organization and they have achieved great success for their company.

6. Summary of analysis

After doing survey I have analyzed very thoroughly all the questions and data that I have acquired from MBL employees of Sylhet branch. In the beginning of this report I mentioned that MBL employees are very much happy and satisfied with their organization. Now I have come up with evidence that they are actually happy with their job and their company policy.

         Employees of MBL practicing job sharing, flexible working hour, flexible ending office hour etc all kind of work-life balanced issues. They feel that they are able to balance their job and family life. In Human Resource Policy manual of MBL there are some policies like leave, allowances, pay system etc included for their human asset. But separate work-life balance policy is not clearly written in their HR policy manual.

         Female employees of MBL get Maternity leave for 4 months with pay and they have opportunity to transfer according to their desired branch of MBL. Male employees also get this opportunity. The chairman of MBL stated that MBL is employee oriented bank and employees are their main asset and valuable resource.

         All regular employees of MBL have mandatory leave of 15 days in a year and along with this they have opportunity to take leave in case of emergency and urgent activity. 

         For urgent activity employees are allowed to come late in office and also can go out before ending time. But for this they have to take permission from their senior manager and they must have valid reason.

         Mercantile Bank Limited has all kind of flexibility to their employees. Though in their HR policy manual work-life balance policies are not clearly written but employees of MBL have all kind of flexibility and facilities which are required to have balanced work-life.    

      Not all employees have children. But those who have children and their life partner is also employed there must be someone to take care of their family in their absence. In my survey employee responded their parents, servants or their in laws usually take of their family  in their absence .

         Work-life balance for any one person is having the ‘right’ combination of participation in paid work and other aspects of their lives. This combination will change as people move through life and have changing responsibilities and commitments in their work and personal lives. Employees of MBL might get changes in their unwritten balance policy but it will be changed according to their desires.

7. Recommendations

After going through the report and knowing all about MBL’s unwritten work-life balance policies, I draw some recommendations:

      MBL practices work-life balance issues and it should be included in their HR policy manual. For this they can include new separate part named work-life balance policy in their HR manual. Work-life balance policy should be flexible and clear, so that work-life balance policies can be changed to meet the needs of employees and the organization as they change.

      It could be widely communicated, so that employees are aware of what policies are available.

      It should be easily accessible, so that employees know what is available and feel they can use the provisions without being penalized.

      MBL can include a monitoring and evaluation mechanism, to investigate if they are succeeding in their aims and are being applied consistently.

      Finally employees of MBL are satisfied in balancing their work life and family life but they are not actually known about work-life balance policy. So it’s an important duty for MBL management to make them understand about their work-life balance policy because it can create inspirations in their employee’s mind.

8. Conclusion of report

For working people it is important responsibility to have balanced work life and family life. In today’s situation middle class people need to have job both for the male person and female person. It’s become tough especially for female person to main both the family and job. Work-life balanced issues practiced to have sound work-life. Now a day organizations are introducing these types of issues among their employees. By introducing this they could acquire most dedicated and inspired employees.

Work-life balance remains an issue that requires considerable attention from society. The changing nature of the global economy, where organizations often operate on a 24/7 schedule and technological advances have made it possible for an employee to be connected at all times.

So, employees should have idea about work-life balanced issues for having better personal life. It will be possible if organizations let their employee know about their work-life balance policy. Work-life balance policies can assist employees achieving a balance between their work and personal commitments that is right for them. However, availability of policies is not necessarily enough for these policies ‘to work’.

The policies need to be supported by the workplace culture, which reflects the beliefs, values and norms of the whole of the organization from the CEO to staff members. Other important factors in the success of work life balance policies include proper communication of commitment to the policies to existing and future employees , raising awareness of the policies, education of managers about the importance of policies, and training of managers on ’how to’ implement these policies.

By this report it is clear that MBL never introduced work-life balanced issues to their employees but indirectly they are practicing it from the beginning. Employees are satisfied with their organization but it can be apparent to them for their motivation.

“Efficiency is our strength”- this is the MBL’s theme against their human capital. It will be more effective if work-life balanced issues are directly introduced to their employees. Work-life balance policies are required to have inspired, dedicated and motivated employees.

References

      (2011).Human Resource Policy Manual of MBL collected from Branch.

      “Introduction to Mercantile Bank Limited” from http://www.mblbd.com/index.php

      (2011). Living Green Banking Green. Annual Report

      Galinsky, E. “Dual-Centric A New Concept of Work-Life.” Families and Work Institute. Retrieved September 1, 2005, from http://www.familiesandwork.org/summary/dual-centric.pdf.

      Henneman, T. (2005) “Work/life Balance: It’s About Relationships, Meaning, and Skill.” Workforce Management Online, June 2005. Retrieved September 15, 2005, from http://www.workforce.com/

      Roberts, S. (2005). “Work/Life no longer a ‘woman’s issue.’” Business Insurance, Vol. 39 Iss. 32, pp. 3-4.

      Lewis, S., and Cooper, C.L., 'Balancing The Work/Home Interface: A European Perspective'. Human Resource Management Review, 5(4): 289-305.

      Strachan, G., and Burgess, J. (1998). 'The “family-friendly” workplace: Origins, meaning and application at Australian workplaces'. International Journal of Manpower, 19(4): 250-265.

      Hofstede, G. (1991). Cultures and Organizations: Software of the mind. McGraw Hill: London.

      Kotowska, I.E. (2005), New Family Order. Academia 2, vol. (6): 4-7.UNESCO.

      Coussey, M. (2000). Getting the Right Work-Life Balance. Chartered Institute of Personnel and Development: London.

Contact Information

      Mercantile Bank Limited, Bangladesh, Head Office,61, Dilkusha Commercial Area
Dhaka-1000, Bangladesh, PABX : 9559333, 9553892, Fax : 88-02-9561213,

Tlx : 642509 MBL ID BJ,  Swift : MBLBBDDH, E-mail : mbl@bol-online.com
Website : www.mblbd.com

      Mercantile Bank Limited, Sylhet Branch, Laldighirpar, Sylhet, Bangladesh
Phone :(0821) 723650,HOB: 723651
Fax : 88-0821-723722
Mobile: 01711-922810.

      Mr. Debojyoti Mojumder

Assistant vice president and Manager operation

Sylhet branch.

Mobile: 01713386896.

      Shakawat Hossain Ibne Ahad

Probationary Officer, Sylhet Branch

Phone: 0821-723650-51

Fax: 88-0821-723722

Mobile: 01711462715

E-mail: shakawat.sust@gmail.com

      Refath-E-Islam

Mobile: 01926088246

E-mail: onu_nsu@yahoo.com

Appendix

                   Questionnaire     

This questionnaire has been made for a rational survey on Work-Life Balance Issues of banking sector employees. All the information will be used only for academic purpose and your response will be held in the strictest confidence. Your feedback will be a great help for me to accomplish my internship report. Please do a tick mark (√) on your answer.

       Name:                                                                               Gender: Male / Female

       Age:                                                                                  Designation: 

1.      How many days in a week do you normally work?
a) Less than 5 days
b) 5 days
c) 6 days
d) 7 days

2.      How many hours a day do you spend traveling to work?
a) Less than half an hour
b) Nearly one hour
c) Nearly two hours
d) More than two hours

3.      Are you married?
a) Yes
b)No

4.      If yes, is your partner employed?
a) Yes
b) No

5.      Do you have children?
a) Yes, no. of children____________.
b)No

6.      Being employed, who is helping you to take care of your children?
a) Spouse
b) In-laws
c) Parents
d) Servants

7.      How many hours in a day do you spend with your family?
a) Less than 2 hours
b) 2-4 hours
c) 4-6 hours
d) More than 6 hours

8.      Do you generally feel you are able to balance your work life?
a) Yes
b) No

9.      How do you feel about the amount of time you spend at work?
a) Unhappy
b) Indifferent
c) Happy
d) Very happy

10.  Do you ever feel tired or depressed because of work?
a) Never
b) Rarely
c) Often
d) Always

11.  Does your company have a separate policy for work-life balance?
a) Yes
b) No
c) Not aware

12.  If, yes what are the provisions under the policy?
a) Flexible starting time
b) Flexible ending time
c) Flexible hours in general
d) Job sharing

13.  ) Do you personally feel any of the following will help you to balance your work life?
a) Flexible starting hours
b) Flexible finishing time
c) Flexible hours, in general
d) Job sharing

14.  ) Do you feel work life balance policy in the organization should be customized to individual needs?
a) Strongly agree
b) Agree
c) Indifferent
d) Disagree

15.  Do you think that if employees have good work-life balance the organization will be more effective and successful?
a) Yes
b) No
If so how?
_______________________________________________________________________
______________________________________________________________________________________________________________________________________________.

Thank you for your thoughtful feedback.