TERM PAPER ON

Employee employer relationship in a labor based organization in Bangladesh.

Course ID# HRM-380 (Section: 02).
Submitted To
Mr.Monzoor Morshed
Lecturer (School of Business)

Submitted By
Shahjalal Rashid Chowdhury Sajjad Hossain Md.ashaduzzaman K.m. shamir azam saikat. Roksana mahbub ID: 0930081 ID: 0720371 ID: 0810039 ID: 0920634 ID: 0920700

Date of Submission: November28, 2011.

28th November, 2011. Mr. Monzoor Morshed Lecturer School of Business Independent University, Bangladesh (IUB)

Subject: Submission of Term paper. Dear Sir, We the group members have the pleasure to submit our Term Paper titled Employee employer relationship in a labor based organization in Bangladesh. in partial fulfillment of the whole course. Our background consist how every labor based organization maintain relationship between Employee and Employer to perform its activities. The purpose of our Term Paper was to get information about an organizations Employee Employer relationship. The term paper will help us to learn more practical about the topic and it will also help the other students. We have taken an interview on a questionnaire and also took information from Square Textiles Ltds website. From our report we found the Employee Employer relationship used in Square Textiles Ltd. We once again thank you for your kind assistance. Sincerely Yours, Shahjalal Rashid Chowdhury Sajjad Hossain Md.ashaduzzaman K.m. shamir azam saikat. Roksana mahbub ID: 0930081 ID: 0720371 ID: 0810039 ID: 0920634 ID: 0920700 _____________ _____________ _____________ _____________ _____________

Acknowledgement

It was an enormous pleasure to prepare our Term Paper titled Employee employer relationship in a labor based organization in Bangladesh. as an integral part of Labor law and industrial relations course. We would like to thank to our honorable Faculty member Mr.Monzoor Morshed, Lecturer of School of Business for letting us to prepare this report. We would also like to express our sincere appreciation to him for his enthusiastic support and guidance. It would be impossible to prepare this Term Paper without his help. We are more than ever grateful to some employees of Square Textiles Ltd for their help by giving the important information about our topics. We are also grateful to them because they expended lots of their precious time beside their office hour to give us the information about our topics. Our special thanks to each of our group members who made our report more informative. We owed to each person who we bothered to collect our information.

Table of Content: Executive summery ---------------------------------------------------------------------- 4 Part 1: Introduction 1.1 Origin of the Term Paper---------------------------------------------------6 1.2 Objective of the study ------------------------------------------------------6 1.3 Scope--------------------------------------------------------------------------6 1.4 Limitation---------------------------------------------------------------------6 Part 2: Company Profile 2.1 Historical Background----------------------------------------------------------7 2.2 Mission, Vision, Corporate Philosophy--------------------------------------8,9 2.3 Strategic policy, Summary of financial performance------------------------9,10,11 Part 3: Methodology 3.1 Primary Source----------------------------------------------------------------------11 3.2 Secondary Source-------------------------------------------------------------------12 Part 4: Compensation management of Prime Bank limited 4.1 Compensation strategy---------------------------------------------------------12-15 4.2 The reward system-----------------------------------------------------------15-18 4.3 Organizational Structure-----------------------------------------------------19-22 4.4 Motivational activity----------------------------------------------------------23-24 4.5 Job evaluation ------------------------------------------------- ---------------25-26 4.6 Performance Appraisal-------------------------------------------------------26-28 4.7 Short term incentives---------------------------------------------------------28-30 4.8 Executives benefits-----------------------------------------------------------30-31 4.9 Benefits & Service------------------------------------------------------------31-33 4.10 Pay delivery administration--------------------------------------------------33-35 Part 4: Ending 5.1 Summary ------------------------------------------------------------------------36 5.2 Conclusion-----------------------------------------------------------------------36 5.3 Recommendation---------------------------------------------------------------37 5.4 Bibliography --------------------------------------------------------------------38

Executive Summary

Square Textile Ltd. started its operation in 1997. It was enlisted in Dhaka Stock Exchange & Chittagong Stock Exchange in 2002. The business lines of Square Textile Ltd. are manufacturing and marketing of yarn. Its factory is located in Gazipur, Dhaka. The manufactures 100% Cotton Ring Span Yarn or Hosiery, 100% Cotton OE Rotor For Hosiery and Knit Fabrics for 100% export oriented readymade Garments Industry. The strategic Goals and Objectives of the Company are to strive hard to optimize profit though conduction and transparent business operations and to create more competitive in the internal and external market. In home, customer of Square Textile Limited is export oriented readymade Garments Industry. The Company also exports its products to the market of Europe & USA. Square is one of the biggest employees in Bangladesh. It has a personnel and administrative department. The total numbers of employees are 1223. For the employees there is systematic in house training in home and abroad. The Company is going through continuous growth in production. The total production increased year on year basis at the rates of 0.43% and 1.467% during 2002 and 2003 respectively. The Companys operations are out on a aggregate basis and are managed as a single opportunity segment. The Company uses Computer Aided Design (CAD), Computer Aides Spreading (CAS) and Computer Aided Manufacturing (CAM) in its plant to increase the overall efficiency and productivity.

Part 1: Introduction

1.1: Origin of the Term Paper As students of the School of Business, we are required to do a Term Paper in this Labor law and industrial relations (HRM-380) course & this Term Paper is authorized by our honorable instructor Mr.Monzoor Morshed. This report is assigned from very first of the semester and the submission date is 28th November, 2011. As were required to do our term paper on the Employee employer relationship in a labor based organization in Bangladesh we preferred Square Textile Limited and present their relationship on our Term Paper. 1.2 Objective of the Study The main purpose of this Term Paper is to present Employee Employer relationship of Square Textile Limited 1.3 Scope In this Employee Employer relationship report we are going to cover following areas of Square Textile Limited. Company Profile Relationship Strategy

1.5

Limitations:

We went to Square Textile Limited, but the problem was the officers were very busy with their work and did not able to give us enough time. As the Company policy, Code of Conduct, Wage structure, relationship dynamics detail information is secrete for the organization Square Textile Limited do not provide us detail information about it. They just give us some information about our topic. And the web page of Square Textile Limited is not professional. There is lack of information and it is not well organized.

Part 2: Organizational overview

2.1 Historical Background: Square Textiles Ltd. started its journey by establishing the first unit in 1997. One year later the second unit was established. Square Textile is a subsidiary company of Square Group .The Company was incorporated as a public limited company in the year of 1994. The operation was started in 1997.It was enlisted in Dhaka Stock Exchange & Chittagong Stock Exchange in 2002. Within a very short time of span the company achieved some significance success. Square Textile receives Oeko-Tex standard 100 and ISO-9002 certificates in the year 2000. Authorized capital of the company is tk. 1000 million. Its paid- up capital is tk. 251.90 million. 1,223 employees are working in this organization. The business lines of Square Textiles Limited are manufacturing and marketing of yarn. The factory is located in Saradaganj, Kashimpur, Gazipur, Bangladesh. Its office is located at Uttara in Dhaka. The organization follow line authority.

STRATEGIC GOALS & OBJECTIVES:

The company sets the following objectives for it to achieve: To strive hard to optimize profit through conduction of transparent business operations within the legal and social framework with malice to none and justice for all To create more jobs with minimum investments To be competitive in the internal as well as external markets To maximize export earning with minimum imported in-puts To reduce the income gap between top and bottom categories of employees.

Thus the company focuses to pole-star its mission that fulfill the objective with emphasis on the quality of the product , process and services blended with good governance that help build the image of the most enable corporate citizenship at home and abroad . The company wants to produce such society friendly goods and services that go to satisfy the wants of all the relevant party without disturbing or damaging the socio- economic and ecological, balance of the mother earth and the process of human civilization leading to peaceful coexistence of all the leaving beings. The company always strives for top quality products at the least cost reaching the lowest rungs of the economic class of people in the country. The company values its obligation to the greater society as well as it strives to protect the interests of its shareholders and to ensure highest return and growth of their assets.

MISSION STATEMENT: The mission statement of Square Textiles Limited is Our mission is realization of vision through maximum production of goods and services strictly on ethical and moral standards at minimum costs to the society ensuring optimum benefits to the shareholders and other stakeholders. This mission is envisioned by the concept of business which ensures well being of the investors, stakeholders, employees and members of the society which will create new wealth in the form of goods and services.

Product Line
1. They manufacture 100% Cotton Ring Span Yarn or Hosiery. 2. 100% Cotton OE Rotor for Hosiery. 3. Knit Fabrics for 100% export oriented readymade Garments Industry.

Part 3: Methodology
3.1 Primary Sources: The primary source of our term paper is face to face conversation and telephone conversation with executives of SquareTextile Limited . We visited the SquareTextile Limited. We mainly talked with Mr. Aftab & Mr. Salman Rahman. They informed us detail about the company policy, strategies, benefits, Employee Employer relationship, etc. Mr. Aftab is the chief of Remuneration Committee and Mr. Salman Rahman is the chief of Performance Evaluation Audit Committee. We asked them related with the topic to our term paper & we are grateful for their contribution in our term paper. We conducted a survey on our topic to five employees of Square Textiles Ltd. We asked ten questions to those employees. These surveys are attached at the end of our term paper.

3.2 Secondary Sources: i. ii. iii. iv. The website of SquareTextile Limited Annual report of SquareTextile Limited Monthly bulletin of SquareTextile Limited Performance appraisal document of SquareTextile Limited.

Part 4: Employee Employer relationship.

4.1 Organizational Structure.

Management:
The entire management process comprises the following units:

E x e c u tiv e C o m m itte e

Top M anagem ent C o m m itte e

S ta n d in g C o m m itte e

A u d it c o m m itte e

E m p lo y m e nt R e la tio n s C o m m itte e

M anagem ent C o m m itte e

Executive Management: The Managing Director, the CEO is the head of the Executive Management team which comprises senior members of the Management Apparatus. Within the limits of delegated authority and responsibility by the Board of Directors, Executive Management operates through further delegation of authority at every echelon of the line management. The executive management operates within the framework of Policy & Planning strategies set by the top management with periodic performance reporting for guidance. The executive management is responsible for preparation of segment plans / sub segment plans for every profit centers with budgetary targets for every items of goods & services and are held accountable for deficiencies, with appreciation for outstanding and exceptional performances. These operations are continuously carried out by the executive management through series of Committees, sub Committees, Committees & standing Committees assisting the line management. Top Management Committee: Comprising top executives, deal with entire organizational matters. Standing Committee: Standing Committee comprises the following committee. Audit Committee: Internal Audit Committee ISO Audit Committee Social / Environment Committee Performance Evaluation Audit Committee Employment Relations Committee: Remuneration Committee Work Environment Committee Performance Evaluation Audit Committee

Management Committee: Product Planning & Development Committee Quality Control & Research Committee Production & Inventory Management Committee Export Promotion Committee Working System: As the companys size is big so its employee number is also quit big one. People of it work in teams. They do not go for individual work system. Each team is dependent on another teams work. Human resource planning: Square has a personal and administrative Department. Square is one of the biggest employers in Bangladesh. The total number of employees is 1,223. For the employees there are systematic in house training in home and abroad. To motivate the employees, along with salary and benefits the company provides various facilities like free meals , free transportation , 24 hour medical center , on site sports . Production and accommodation facilities include full time supply of safe drinking water, adequate lighting and ventilation facilities from sheet.

HR Practices of SQUARE textile Recruitment Training Performance Management Employee relation Job analysis Job design Selection Development Incentives Benefits

BRIEF DISCUSSION ON EMPLOYEE-EMPLOYER RELATIONSHIP

For any economy to make rapid progress and any particular labor intensive industry which has an immense contribution to a countrys GDP growth for example the RMG and textile sector in the case of Bangladesh, Employee-Employer relationship in a labor in a labor based organization is of extreme importance. If this relationship starts to face problems from within the organizations and from the outside leading to serious disputes between the employers and employees, the entire industry is bound to collapse only in a matter of time. To avert such disasters the Operations and Human Resources Management teams of the respective companies doing business in that particular industry has to be extra careful and take into consideration some of the sensible and rational demands of the labors working in that industry. A number of management styles and management strategies are available to the management teams to choose from to avoid such chaos and confusion between the employees and employers in intensive labor based organizations. Like many other RMG and Textiles companies of Bangladesh, the Square Textiles which is a subsidiary of the nationally renowned Square Group, follows an industrial relations perspective which is known as the Unitarist perspective. The Unitarist perspective emphasis on the organization as a coherent team united by a common purpose. In terms of this approach the organization is seen as a single entity, with a single authority and a loyalty structure. The organization has a common set of values, interests, and objectives shared by all members of the organization. Managements right to manage is seen as legitimate and rational. Any opposition to managements to manage is seen as irrational. This view sees no conflict between employees and employers since both are partners to the common aim of production and profit. All employees strive for greater productivity in order that all can share the rewards. This means that each worker does his or her best, accepts their place in the hierarchy, and follows the appointed leader. Conflict is seen as irrational and antisocial. It is seen to be caused by agitators. If it exists it is the fault of the employees and not the employers and the management. Trade unions are intrusions from outside competing with the management for the loyalty of the workers. It has a negative effect on the prerogatives of management. It redirects the loyalty of employees away from management. Many businesses promote Unitarism because it legitimizes managements authority and emphasizes

managements right to rule. In Unitarism, the employees promote the interests of the management. Thus any challenge to management is misguided and subversive. The management team of Square Textiles also follows a management strategy known as Sophisticated Human Relations Style to avoid labor conflicts and disruptions in their operations. In this style of management strategy unions are actively avoided but there is promotion and development of the individual through sophisticated HRM such as higher wages, training and development and good communication. The management strategy also has procedures to neutralize all sorts of complains, dissatisfactions and grievances if prevailing among the employees of the organization. Industrial relations are the relationships between employees and employers within the organizational settings. The field of industrial relations looks at the relationship between management and workers, particularly groups of workers represented by a union. Industrial relations are basically the interactions between employers, employees and the government, and the institutions and associations through which such interactions are mediated. The relationships which arise at and out of the workplace generally include the relationships between individual workers, the relationships between workers and their employer, the relationships between employers, the relationships employers and workers have with the organizations formed to promote their respective interests, and the relations between those organizations, at all levels. Industrial relations also includes the processes through which these relationships are expressed (such as, collective bargaining, workers participation in decision-making, and grievance and dispute settlement), and the management of conflict between employers, workers and trade unions, when it arises.

RELATIONSHIP DYNAMICS
Relationship dynamics talks about the trustworthiness between the employer and employee. It indicates how much open minded they are to each other. From the context of Bangladesh, in an organization employers are considered enemy to the employees. Employees always think employers always remain busy only for their own benefit. We often see so many strikes, and hooliganisms take place in the RMG areas most often.

However, HR is maintaining an effective way to deal with labor in Square and there has been no unrest recorded as dispute. Personnel working here are taking care of SQUARE as if it is their own family. Employee-employer relation is cordial and supporting always.

BALANCE OF POWER
Employers and employees each have their own sets of needs and values, and successful relationship between these two sides requires that some sort of balance be struck. This balance often takes the form of a psychological contract, an understood agreement between employer and employees that defines the work relationship. This contract with or without support of a formal collective bargaining, agreement influence the outcome achieve by each side. The Bangladesh Garment Manufacturers and Exporters Association (In the prolonged tripartite negotiations between workers' representatives, government and employers, the BGMEA has consistently refused to budge on the wage demands, offering only minor increases.) Eight and a half thousand workers struck to demonstrate for wage increases and other benefits; RMG bosses responded by lockouts - closing the factories. Workers barricaded main roads, fighting began when cops arrived, workers lobbing bricks at them; workers then broke up into several groups and began attacking various factory buildings. Other factories then began to shut in an effort to avoid further trouble - but their closure brought more workers onto the streets. Police eventually cleared the area with teargas. Forty people were injured, including ten cops. These incidents are common in the industry, in the company we selected the employees have more power as the owner depicted the situation workers. Although the company did not face any troubles yet as it has a very co-operative and understands the need of the employees. The employer has this perspective as workers have the capability to go on strike and stop production. However, SQUARE, with its progressive business outlook, believes and practices corporate work culture with a classic blend of efficiency and equity. SQUARE believes in company growth by increasing efficiency level of employees and for that offering excellent

environment and support for skill and knowledge up gradation. SQUARE values productivity as the spontaneous contribution of Human Resources. HR is maintaining an effective way to deal with labor union and still no unrest has been recorded as dispute. Personnel working here are taking care of SQUARE as if it is their own family. Employee-employer relation is cordial and supporting always. Although there is trade union involved but the employees have power of the masses that they are so huge in number that they can affect their and other companies in the industry. Employees can go on strike, it is a concerted and temporary suspension of functions designed to exert pressure upon others that is the management.

ROLE OF POWER
Power is common in both parties that are employers and the employees. Employers have lockouts, no work no pay policy whereas employees go on strike, or boycott the company. All these tactics are harmful for the production process and improvement of the company as well as for the two parties involved. The factory owner uses lockout as a power tool if there is a bargaining situation. The factory is closed temporarily, because its owner tries to gain a negotiating advantage over the employees' union. A lockout is commonly used by a company's management if they suspect the union is planning to strike. A lockout by management before the union strikes is much like a pre-emptive military attack that tries to hit the enemy hard, fast, and first. Also, in case a situation occurs where there is chance of destruction of properties of the company, the company can use lock out as their option to protect the company. Then there is also no work no pay policy that is if workers do not work they do not get paid so as most of the workers are economically insolvent they get weak as they are forced to do their job for the money. As factory owner has power to lockout, the employees can go on strike, it is temporary action, but it is very effective. There are several reasons for the supremacy of strike as a weapon. The strike directly suspends production; cuts out the creation of profit cuts off the employer from his market; sources and materials may be lost and fixed charges such as interest, taxes, and salaries for officials continue to incur during the strike period. Finally, the very existence of the company may be threatened by prolonged strike.

TRADE UNION & COLLECTIVE BARGAINING

The employer said in the interview they do not hire people involved with trade unions as trade unions cause more problems by stirring up the employees and causing riots and strike. Even though there is provision for trade union and law states that employers cannot discriminate workers involved with trade union. Although the company does not allow trade unions but they organize monthly group meetings. These are group meetings where workers and employees sit together to solve their issues and return back to a healthy working condition. The issues discussed are mainly wage related and benefits that should be provided. After interviewing some employees we found out about their view on trade union. The workers fear to lose their job by joining trade unions as the producers dont prefer them to join in unions. The producers think that many trade unions are politically oriented and they use the workers for their own political benefit. But the workers perceive that producers dont want them to join in traded unions because they (producer) dont want them (workers) to be aware of their (workers) rights.

EXISTING LABOR LAW

The People's Republic of Bangladesh has many laws governing the relationship between workers and employers, including the 1965 Employment of Labor Act and the 1969 Industrial Relations Ordinance. Specific laws practically apply to several industries, but enforcement is lax or virtually nonexistent. TERMINATION

A permanent employee at a company must give his employer 14 days notice if he wishes to quit or one month notice if the employee is paid on a monthly basis. Termination is considered a "discharge" in the case that an employee is fired for reasons of mental or physical incapacity, illness or other reasons not related to misconduct by the employee. Conversely, a "dismissal" is defined as a termination that is in response to employee misconduct, such as tardiness, corruption, dishonesty, theft, etc. The third category of termination, "retrenchment," is performed in cases where the employment is redundant. An employer must pay compensation when a termination is unrelated to discharge or dismissal, and must give justification when they do terminate on grounds of discharge or dismissal. REDRESS In cases of discharge, dismissal, or retrenchment, an employee may file grievances in an attempt to gain redress for the termination. This is begun by filing a grievance with an employer within 15 days of the termination. If the employer doesn't provide satisfactory redress, the fired employee can take the case to the Labor Court within 30 days of the termination. The Labor Court may order the payment of redress or even the reinstatement of the worker. An employee terminated on grounds not specifically defined as discharge, dismissal or retrenchment generally can only file grievances if his employer violated requisite notice period for termination or the termination was committed on grounds of union activity. CHILD LABOR With millions of children employed in industries ranging from cigarette production to fish processing, child labor is pervasive throughout all sectors of unskilled labor in Bangladesh. The garment industry employs the most children. According to the U.S. Department of Labor's Bureau of International Labor Affairs, the law on child labor is vague, with various interpretations placing the minimum age of employment at 12 to 13.

FOLLOWING LABOR LAW

In practice, the laws are often not enforced and children as young as 8 have been reported working in factories. But Square textile mill has been following the existing labor law as they dont want to lose foreign investors.

LEVEL OF JOB SATISFACTION

Employers and employees each have their own sets of needs and values, and successful relationship between these two sides requires that some sort of balance be struck. This balance often takes the form of a psychological contract, an understood agreement between employer and employees that defines the work relationship. This contract with or without support of a formal collective bargaining, agreement influence the outcome achieve by each side. SQUARE group the various into three channel categories those are: 1. Employee safety 2. Employee health 3. Employee working condition EMPLOYEE SAFETY: SQUARE provides the employee safety .It ensure the all kinds of job safety such as insurance of each employee not this it provide insurance to the labor. EMPLOYEE HEALTH: Free medical checkup, provide health care, and also provide necessary medical facilities for each employee. EMPLOYEE WORKING CONDITION: The working condition of employee is very hygienic. SQUARE is ISO 9001-2000 Certified company.

LABOR RELATION ISSUES

Employment Relations Committee: Remuneration Committee Work Environment Committee Performance Evaluation Audit Committee

SHORT TERM & LONG TERM INCENTIVES

INCENTIVES Compensation fluctuates according to: A pre-established formula Individual or group goals because group goals are different from individual goals Company earnings Incentive Pay Categories: -Individual -Group -Company-wide Individual incentive plans: Quantity of work output (How many units produced) Quality of work output (What was the quality of the product or service being produced or served) Monthly sales (How much sales was generated) Work safety record (How many hazard or errors are being reduced. Work attendance (If the absent is reduced or attendance is good)

GROUP INCETIVES Performance Measures: Group incentive plans Customer satisfaction Labor cost savings Materials cost savings Reduction in accidents Services cost savings

COMPANY WIDE PERFORMANCE MEASURES Company-wide incentive plans: Company profits Cost containment/prevention Market share Sales revenue Individual Incentive Plans (Piecework plans): Awards based on individual Production vs. company standards Awards based on individual performance standards using objective & subjective criteria Quantity and / or quality goals Group Incentive Plans: Rewards employees for their collective performance Group incentive use has increased in industry 2 types Team - based or small group Gain sharing

BENEFIT AND SERVICE PLANS

Square has a personal and administrative Department. Square is one of the biggest employers in Bangladesh. The total number of employees is 1,223. For the employees there is systematic in house training in home and abroad. To motivate the employees, along with salary and benefits the company provides various facilities BENEFITS OF SQUARE Employee benefits & services were formerly known as fringe benefits and these benefits were primarily the in-kind payments employees receive in addition to payments in the form of money.

In

addition

to

paying employees

fairly

and adequately

for

their

contributions in the performance of their jobs, organizations assume a social obligation for the welfare of employees and their dependents. Employees benefits are usually inherent components of the noncompensation system are made available to employees that provide: Protection in case of health & accident Income upon retirement & termination These benefits are components that contribute to the welfare of the employee by filling some kind of demand. LEGALLY REQUIRED BENEFITS OF SQUARE Social Security Social security benefits include the general benefits like unemployment insurance & benefits, old age insurance, and Medicare facilities. Workers Compensation Workers compensation includes the compensation when an employee becomes injured or disable due to extreme working conditions or while working at the job site. Family & Medical Leave Family leave includes the compensation continuation during the family leave such as maternity or paternity leave and other family leave. Old age, Survivor, Disability Insurance requirements for getting compensation: Earn 40 quarters of credit, or Be employed for 10 years Be age 62 for partial benefits Be age 65 for full benefits Now the age has been extended to age 67 because more and more workers are retiring late. Widow aged 60 +

Medicare: Depends on the countrys policy, Medicare facilities are generally government services to citizens. Organizations add some value to Medicare facilities. In some countries Medicare is financed together by employees tax, employers, and the government. Provided insurance coverage for Hospitalization - Covers inpatient & outpatient hospital care & services. Major Doctor bills Charges of visiting a doctor or specialist. Prescription drug costs. Provides unlimited in-home care in certain situations. Workers Compensation: Workers compensation is a legally required benefit is included in the compulsory disability laws of many countries. Mostly, employer is seen liable regardless of the fault. Objectives of Workers compensation: Provide income & medical benefits Reduce litigation Eliminate legal fees & time Encourage employer safety Promote accident study & avoidance Workers compensation claims Injury Occupational disease Death Workers compensation benefits Medical services Disability income Death benefits Discretionary Benefits:

 Discretionary benefits are judgment based benefits that the organization provides to its employees. These benefits are not legally required benefits but enhance organizational culture and corporate image. Benefits include: Protection programs Pay for time not worked Other services Pay for time not worked: Holidays Vacations Funeral leave Marriage leave Sick leave Stress leave Blood donation or welfare work Personal leave Sabbatical leave/ For Muslims, leave after death Other religious leaves such as pilgrimage or preaching

EXECUTIVE COMPENSATION PLAN

Administration: Category General Manager Manager Accounts Cashier Cum Computer Op. Store Keeper Peon, Guard, Driver Monthly Salary Tk. 15,000 Tk. 10,000 Tk. 8,000 Tk. 5,000 Tk. 3,500

Other Staff Commercial: Category Manager Commercial Commercial Officer Production: Category Production Manager Floor In Charge Supry. Cutting In Charge Finishing In Charge Workers: Category Skilled Operator Helper

Tk. 3,000

Monthly Salary Tk. 12,500 Tk. 8,000

Monthly Salary Tk. 20,000 Tk. 12,500 Tk. 7,500 Tk. 6,000 Tk. 6,000

Monthly Salary Tk. 2000 Tk. 1500

RECOMMENDATIONS

The whole factory and all equipment possess the highest international safety standards. All employees should regularly train in order to increase their efficiency and to ensure the safe operation of all the equipments related to their work.

CONCLUSIONS:
The company believes their workers are their asset without them they could not have reached to their present success. Square textile limited implements its corporate social responsibility in the work place, with the workers and with the environment. Square Textile Limited is a very conscious and socially responsible RMG factory. They are sympathetic to their workers. In short, in many senses Squarer textile is a model for many RMG factories in Bangladesh.

The flourishment of any industry requires combined efforts and cooperation from several parties. Social, political and macroeconomic environment play pivotal role in this regard. Though Square Textile is a newly Ventured Company in the respective sector, its growth and expansion is praiseworthy. Its contributing the country and serving the nation in different ways. If it can up hold its much toward advancement, it will be able to set a role model in our country.