Any equipment, tools or operating methods designed to make work more efficient. Technological advancement integrates integrates technology into a process for changing inputs into out puts.
How technology is affecting HRM practices in present world? Today, core HR responsibilities as diverse as recruitment, oversight of legal and regulatory compliance, benefits administration, and the safeguarding of confidential employee information cannot be carried out effectively without without high-tech tools. In a world where what matters gets measured, many HR executives are turning to sophisticated analytics to gauge their department's strategic contributions. In addition, many HR managers are borrowing from other business disciplines and integrating collaborative and social networking tools such as social networking site facebook, t witter etc. For these HR professionals, the growth of electronic communication and Internet use requires developing policies governing the safekeeping and appropriate flow of information, including email and blogs. Indeed HR professionals, working together with information technologists, now rely on policy and software to monitor data flow, block inappropriate data such as pornography, and prevent the leaking of trade secrets. HR professionals also rely on automated systems to direct employee benefit contributions. Such systems automatically direct a portion of workers' pay toward their retirement savings plans unless employees opt out, for instance. And while total rewards statements that alert employees to the total value of their compensation benefits packages have been around for years, many companies now are making that information available to workers electronically through HR information information systems or self-service self-service sites. Workplace diversity initiatives are getting a boo st from technology. Remarkable developments in assistive technology, for example, have increased job opportunities for people with physical
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disabilities. Some employers say that investing in such technologies is simply the right thing to do; others argue that such initiatives are good for the bottom line since they allow companies to recruit from a broader pool. Employers are also turning to technology to assist in evaluating their workers and vice versa. Electronic systems can automate performance-management processes, ensure an accurate "grading curve" and guarantee feedback to employees. Meanwhile, many companies are relying on technology to streamline traditionally cumbersome employee surveys. Technology has significant impact on organization and employee development in such areas as e-learning, computer-based testing and workplace collaboration. Organizations are increasingly using technology in training. Human resources professionals are upping their reliance on technology to manage safety and security information and functions. Workplace safety and security can benefit from technology by facilitating acquisition and analysis of injury and illness data, injury costs per employee, training documentation and management, performance management, electronic communications, digital access key log-in information, security camera data management and identity theft protection. Biometrics devices that use fingerprints or other physical traits for identification can help solve some employee discipline problems and protect sensitive data. Time clocks are one of a growing number of workplace applications of biometrics. During the last decade, the Internet has played a growing role in external recruiting. Large, allpurpose online job boards quickly found a place in recruitment. Meanwhile, niche sites catering to specific industries and demographic niches such as women and Asians won favor. Online
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corporate job sites and intranets have become key recruiting tools, allowing employers to get the word out about job openings quickly and inexpensively. Employers also are using technology to market job openings more strategically. Many capitalize on emerging technology like RSS--real simple syndication--allowing online postings to reach job seekers via e-mail or text message as soon as a new job is posted. Others are enhancing traditional online listings with videos and podcasts. Technology is also playing a pivotal role in the controversy regarding illegal immigration. Tens of thousands of employers are voluntarily using e-Verify, an Internet-powered tool offered free by the Social Security Administration and the U.S. Department of Homeland Security, to verify a match between employees' names, Social Security numbers and immigration information. Once an application comes in, many HR professionals tap desktop search engines such as Google to check backgrounds. A few employers check out workers' private blogs and entries they may have placed on social networking sites such as Face book and MySpace. Others sign up for help from computerized background scree ning services. And once a new hire comes on board, many HR professionals are relying on electronic on boarding systems to handle tasks including assigning packing passes, computers, uniforms, email addresses and security badges. Some employers--particularly those with a scattered workforce--are capitalizing on computerized learning systems for orientation and to deliver coaching on topics from sexual harassment avoidance to conflict resolution.
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Technology affecting HRM practices of SAR securities ltd
Company background: The SAR Securities Ltd. is one of the leading Brokerage House of DSE. It was established in the year 1980 and got the DSE membership in the year 1980 in the name of Sharif Ataur Rahman & Co. Formal trading began in the year 1983. The company was incorporated under the Companies Act (Act-XVII ) of 1994 with the name of SAR Securities Ltd. and limited by shares. As a private limited Company within the meaning of the Section 2(1) Clause (TA) of the Company Act 1994 no invitation shall be issued to the public, to subscribe for any share or debenture of the Company. The authorized Capital of the company is TK. 5,00,00,000 (Taka Five crore) divided into 5,00,000 ordinary shares of Tk.100.00 each and of which Paid-Up Capital is Tk. 2,25,00,000.00 (Taka Two crore twenty five lacs) divided into 2,25,000 ordinary shares of Tk. 100.00 each. In Dec 2003, SAR Securities Ltd. became a full Depository Participant (DP) of Central Depository of Bangladesh Ltd (CDBL) to facilitate electronic settlement of share trading and operate accounts on behalf of customers. Over the last 30 years journey, the Company has earned confidence of the investors despite some ups and downs. Presently, expected number of General Public opened their Beneficiary Owner's (BO) accounts and confidently trading availing our support facilities. The Company is in a relentless process of modernization and up gradation of its internal hardwire and software to provide desired service to its customers. To meet the demand of investors at District level, we are planning to extend our trading network at Divisional headquarters/Districts in the near future with the active support o f DSE.
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Technological changes in SAR securities ltd:
In the last decade Bangladesh have achieved a lot of technological advancement. In this arena brokerage firm or other capital market institutions have faced a dramatic change. Over the ten years paper based trading has changed to digitalized trading. All the company have demated their paper shares. As a result complete a lot of job has obsolete and a complete new set of job emerged. In addition a lot of new software came during this period. As a result dramatic change has occurred in job description, job evaluation, job specification and involvement. As a result, motivation and recruitment strategy has changed in addition with pay structure.
Job description and job analysis : With the greater need for computer based work traditional broker, accountant and other managerial position requires now greater computer skill. All the jobs are done through the help of computer. As a result now, employers are looking for dynamic employee who has knowledge about computer and related software. Each position needs knowledge of different kind of software like back office, CDBL pay in and pay out, accounting etc. Presently our organization is looking for mainly young and energetic person because it believes young people can adopt technology fast. Now the job requires knowledge of ms word , excel, basic computer knowledge.
Recruiting:
Traditionally employees were recruited through personal reference and news paper advertising. Now the recruitment advertisement goes to online website which is cheaper and convenient. Application is received online and pro cessed which reduce time to select from the pro files.
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Training and development : Training of new employees are extremely different. Use of multimedia projector, slides, videos are now basic requirement for training of employee because it increases the efficiency.
Employee selection: Employees are selected based on their profile and in accordance with need for the position. Now young people with good English and computer knowledge get preference over others. Although it¶s a tough job, use of co mputer makes it easy to screen out suitable candidates in minute.
Motivating employees:
For proper study of the need and motivation factor now we have a hired HR manager who is responsible to study the nature and need of the employees. For motivating employees now job responsibility along with good benefits and bonus are offered. Any extra ordinary achievement is recognized and highlighted in front of managers which satisfy the employees.
Paying employees market value: Brokerage industry is very competitive sector and thus it is tough to get good employees because the job requires a great amount of technical knowledge. That¶s why the market demand for the employees is lot. As a result market price of employees grows higher in short time. To retain good employees it takes a lot of study to maintain standard market price of the employees.
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Communication:
Communication plays an important part in brokerage house. Instead of depending tradition communication method now we use all kind of modern communication media like e-mail, messenger, virtual networking. Now all employees are connection through pc sharing and networking. All employees can log into company server e-mail through personal pin a nd id.
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