Followings are the step by step method by which FM Consulting International provides Third Party Payroll Services in Bangladesh.
Step - 1 | AGREEMENT FOR THE EMPLOYEE TRANSFER
Under FM Consulting International’s third-party payroll services, you enter an agreement under which we take the responsibilities of your employee’s withholding tax, payment responsibilities, reporting responsibilities, etc. while the employees will actually provide services to you.
Step - 2 | REBADGING AND COMMUNICATION
The Re-badging phase encompasses the activities needed to transition the employees to FMCI.This includes the following:
- Resource Evaluations (Due Diligence): In conjunction with the client, FM Consulting International will assess every existing resource for criticality to supporting the end client.
- Initial Notification to the employees: This communication can be via email or a group meeting/conference call.
- Secondary Communication: Immediately after the initial notification, FM CONSULTING INTERNATIONAL will reach out to the affected employees via email. Our goal with this communication will be to open our dialogue with the affected employees, establish points of contact communicate the next steps.
- Group Meeting/Conference Call: Within 3 days of the secondary communication goings out, FMCI will conduct a group meeting/conference call with the affected employees. Representatives from the employees will be invited to attend this meeting/call on an optional basis. The purpose of the call will be to reinforce the messages of the first two communications and communicate the timelines and goals for the remainder of the transition.
- Individual Meetings/Calls: Individual meetings and/or calls will be scheduled with affected employees as soon as 24 hours after the group call is conducted. Where possible, face-to-face meetings will be conducted. FM CONSULTING INTERNATIONAL will have a dedicated team of HR/Recruiting professionals available to perform these calls/meetings.
These calls will be scheduled for a maximum of one hour with the goals being to:
- Answer individual questions/concerns;
- Interview each individual to identify interest in continued employment in the current position;
- Learn about individual goals, abilities, and interests;
- Deliver the orientation package;
- Set expectations for when the employee can expect the next call/meeting.
- Hiring/Job Offers: Individuals will be offered positions of employment with FM CONSULTING INTERNATIONAL, on the same day of having their individual meeting with FMCI. Offers will typically be made via a phone call and, if accepted, will be followed by an email that contains a formal offer letter that describes the details of the offer, including pay rate, start date and manager information.
Step - 3 | RISKS MITIGATION PHASE:
FMCI will implement a risk management approach to ensure early identification of potential HR risks, and planning and implementation of appropriate mitigating actions. Below is a list of typical risks which FM CONSULTING INTERNATIONAL will evaluate throughout the Resource transition program.
- Delay in Transition - Attrition of resources
- Employee seeking higher compensation
- Benefits and compensation issues.
- Resources doubts about employment stability
- Career and growth path
- Why is the employer doing this? Purpose (Proper reason and communication issue)
- Legal agreement between Manpower and its partner.
- FM Consulting International Company Branding, Employee management and engagement concerns.
Step - 4 | RECRUITING PROCESS – HIRING AND DEPLOYMENT BY FM CONSULTING INTERNATIONAL:
- First Level Screening from Recruitment team.
- Internal Evaluation from technical team.
- Resource Evaluation from the Client’s team.
- Final selection & feedback from Client’s project team.
- Documentation & due diligence from HR team.
- Offer & Deployment.
- Resource signs employment documents
Step - 5 | SOURCING PLAN:
Identify internal team of 5-6 Technical Panel to evaluate profiles.Published advertisements internally to leverage on the strong employee referral as well as from local job portals and other sources. Evaluation of Internal Bench resource pool to identify the resources fit for the requirement, if any. Share the Requirement with Specialized technical Internal Recruiters and Sub-Tier Partners. Resume sourcing from local training institute which have a tie-up with local partner in Bangladesh.
Step - 6 | BACK-UP PLAN:
FMCI team will pre-evaluate some candidates who are ready to join immediately in project, in case any resources back out or are not ready to join in project. (As per the deployment plan).
We have planned some backup resources to manage leaves & attrition. These backup resources will be deployed as L1 after 6 month in case any L1 resource resigns from project.
OJT – On Job Trainee resources are deployed on the site to optimize cost in the project.
Once we receive the list of resources not joining, we will ensure the additional selections that we have made would be offered to ensure BAU connectivity and avoid any negative SLA impact.
Step - 7 | EMPLOYEE WELFARE MAJORLY EXTRAMURAL:
- Equal opportunity employer – FM CONSULTING INTERNATIONAL recognises and values the differences in employee ‘backgrounds and skills’ and promotes equal access to employment and supply opportunities without discrimination. Any alleged violation of the equal opportunity policies is investigated and, if found valid, acted upon.
- Promoting a just and fair workplace - The level of wages and salaries of all employees are defined and determined by periodic collective bargaining or wage arrangements. FM CONSULTING INTERNATIONAL complies strictly with rules and regulations stipulated by local governments on minimum wages paid to employees.
- Encouraging work-life balance for employees – will be planned as per the local laws and looking at the current environment at the Client.
- Caring for the well-being of its employees, including those with special needs - Committees comprising representatives of the Union and Management jointly monitor employee benefits.
- Skill development and creating world-class employees – FM CONSULTING INTERNATIONAL creates managerial and functional training opportunities for all resources.
- Offering a harassment-free workplace to all – FM CONSULTING INTERNATIONAL tries to create a discrimination free workplace, Guidance on the harassment free workplace is provided to all the employees and taken from FMCI’s Sexual Harassment and Affirmative Acton policies.
- Social Security – Medical Care, Sickness benefits, insurance benefits, maternity benefits and dependants benefits as per the local laws.
HR MANAGEMENT – POST TRANSITION (CONTINUOUS IMPROVEMENT PROGRAM) :
FMCI will manage the post-transition phase effectively to avoid the impact of transition like lower motivation resulting in low productivity.
We plan to implement below measure:
- Set up a HR help desk
- Quarterly performance rewards program for all the eligible employees.
- Bravo Awards based on the performance (Cash rewards and Appreciation Certificates)
- Open up our training portals for upskilling of transitioned employees
- Check and evaluate their leave policy to see if we can provide with flexible leave policy.
- Conduct the team building activities and celebration of the festivals.
- Based on the performance evaluation will analyse the gaps and recommend appropriate training programs.
- Setting up of insurance help desk for their convenience.
OTHER SERVICES UNDER THIRD PARTY EMPLOYEE OUTSOURCING
Under FM Consulting International’s third-party payroll services provider we also outsource competent personnel for accounts, auditing, legal, IT, etc. backgrounds sourced from our legal partners FM Associates and HR Outsourcing Partners, FMA Outsourcing Limited.