“Termpaper on Fundamental Human Resource Management Practices and Their Impact
on Organizational Success at bkash Limited”
Group-Power Puff Girl's
Course Details
Human Resource Management (HRM 301)
Section:06
Submitted to:
Silvia Akter
Assistant Professor
Department of Business Administration
East West University.
Submitted by:
Name ID
Fariha Fairuj Orthy 2022-1-10-051
Ananna Ferdoushi Oishi 2022-1-10-276
Israt Zarin 2020-2-10-046
Ziba tasnia 2020-2-10-018
Date of Submission: 18th January 2025
ACKNOWLEDGEMENT
In the process of completing the term paper, it became quite clear to us that anyone can hardly
complete a term paper alone. Many people and institutions deserve thanks and appreciation for
their valued contribution. As the list of individuals and institutions we wish to thank all but it
cannot be accommodated in this limited space, we therefore would like to thank some specific
ones for their dedicated support.
First, we must express our gratitude to , Assistant Professor, Silvia Akter our faculty advisor,
who helped us decide on a topic that was of interest. Her guidance in helping us to separate the
important and necessary details from the unnecessary certainly helped us to stay on the correct
track.
Special thanks to bkash limited for supporting us with our collection of information and sparing
time from their extremely busy schedule.
Our gratitude goes out to all our friends who helped during the difficult times when we felt like
work was hard and ready to give up. They gave us back life, just by being there.
At the end, we would like to thank our family who has been with us all our lives. They have been
extremely patient and always willing to sacrifice when it came to our studies and now work.
Without such a wonderful family, we do not think we could have spent our lives, let alone
complete this term paper.
LETTER OF TRANSMITTAL
January 18th, 2025
To
Silvia Akter
Assistant Professor
Department of Business Administration
East West University.
Subject:Submission of Term Paper on Fundamental Human Resource Management Practices and
Their Impact on Organizational Success at bkash Limited.
Dear Madam,
It gave us an immense pleasure in presenting this term paper, which was assigned to us in
"Human Resource Management (HRM 301)" [Link] this paper, we have tried our level best to
portray the picture of HR practice of the organization, "bkash limited" We tried to cover as much
as information possible all collected through the Human Resource Manager and employees of
the Customer Service Division.
We consider ourselves very privileged to prepare this report under your guidance. This has been
an enormous opportunity for us to learn about this sector. It has provided us with a great scope of
applying the gathered knowledge in the practical field. We must mention here that we are
extremely thankful to you for your valuable guidance, tiresome effort and constant attention
whenever required.
We will be pleased to answer any sort of query you think is necessary, as now and when needed.
We would like to draw attention particularly on the matter that there is always a space for
clarification of any relevant topic. We will be available for any sort of discussions.
Thank you.
Sincerely
On the behalf of the group
Fariha Fairuj Orthy
ID:2022-1-10-051
Executive Summary
This term paper explores the human resource management (HRM) practices of bKash Limited, a
leading financial technology (fintech) company in Bangladesh. bKash specializes in mobile
financial services, providing easy money transfer solutions, especially for people without access
to traditional banking services. The company’s goal is to make financial services accessible to
everyone, and its growing popularity shows that it is achieving this mission.
To gather information, we used two methods: an interview with an HR manager at bKash and
research from online articles and journals.
We looked into the leadership style at bKash and found that the company focuses on maintaining
a strong employee-employer relationship, fostering a healthy work environment, and
encouraging good relationships among team members.
Next, we examined bKash’s HRM system in detail. The recruitment process involves three steps:
forecasting workforce needs, analyzing requirements, and collecting CVs. The selection process
includes CV screening, face-to-face interviews, salary discussions, background checks, and
onboarding. bKash also offers several employee benefits, such as health insurance, retirement
plans, transportation support, and performance-related incentives, which make working at the
company attractive and sustainable.
Finally, we proposed some recommendations to further improve the HR systems at bKash.
Background
Human Resource Management (HRM) is about finding, managing, and supporting the people
who work in a company. It includes hiring the right people, helping them grow through training,
and making sure they are treated fairly with good pay and benefits.
HRM also creates a positive workplace, where employees feel motivated and valued. It handles
important tasks like checking performance, giving rewards, and ensuring everyone follows
company rules.
By focusing on people, HRM helps the company reach its goals and keeps things running
smoothly. Good HR practices also reduce employee turnover and build strong relationships
between the company and its workers.
Objectives of the Term Paper
The main goal of this term paper is to analyze fundamental Human Resource Management
(HRM) practices and their impact on organizational success. The specific objectives are as
follows:
General Objectives:
1. To explore the scope and importance of HRM practices in organizations.
2. To understand how HRM contributes to achieving organizational goals.
3. To evaluate the implementation of foundational HRM practices, including recruitment,
training, performance management, compensation, and compliance.
Specific Objectives:
1. To provide a detailed overview of HR practices in a leading organization, such as bKash
Limited.
2. To analyze case studies or examples of effective HRM practices.
3. To assess the challenges faced by organizations in implementing HR practices.
4. To study the role of HRM in adapting to modern trends, such as technology adoption,
diversity initiatives, and remote work arrangements.
5. To identify the strengths and weaknesses of traditional HRM practices and recommend
improvements.
6. To explore how fair performance appraisals and training programs enhance employee
motivation and organizational success.
Challenges and Limitations:
1. Limited Data Access: Organizations like bKash maintain strict confidentiality regarding their
internal data, making it difficult to gather detailed insights.
2. Restricted External Research: Access to the company and its operations for external
researchers is limited, reducing the ability to collect primary data.
3. Sensitivity of Information: Due to the high sensitivity of HR data, secondary resources and
online information about bKash were insufficient for a comprehensive analysis.
4. Time Constraints: The research process faced time limitations, restricting the depth of analysis
and exploration.
5. Generalization Issues: Findings based on bKash may not fully represent the practices or
challenges faced by organizations in other industries or regions.
Methodology
The entire paper has been prepared based on both:
Primary Data
The primary data of the following report has been taken through -
• interviewing the following personnel:
Manika Miti
HR Intern (Commercial)
Taslima Khan Aurpa
HR Intern (Commercial)
Secondary Data
Secondary data are gathered from
[Link] and different websites.
[Link] journals
Overview of bKash Limited
bKash Limited is a leading mobile financial service provider in Bangladesh. It is a subsidiary of
BRAC Bank Limited and began as a partnership between BRAC Bank and Money in Motion
LLC (USA). Over time, the International Finance Corporation (IFC) joined as a partner in 2013,
and the Bill & Melinda Gates Foundation became an investor in 2014.
The main goal of bKash is to make financial services accessible to everyone, especially people
with low incomes. Most of Bangladesh’s population lives in rural areas with limited access to
banks. Less than 15% of people use formal banking systems, but over 68% own mobile phones.
bKash uses mobile technology to provide secure, affordable, and convenient financial services to
those in need.
Vision
bKash aims to grow its business while exploring links to other financial services in the future. Its
vision is to serve the masses by scaling up financial inclusion.
Mission
The mission of bKash is to provide financial services that are:
● Convenient
● Affordable
● Reliable
bKash wants to make it easy for people to send and receive money using mobile phones, creating
a safer and more accessible financial system for everyone.
Corporate Slogan
The slogan of bKash is: "PROYOJON E PASHE bKash" (bKash is always with you when you
need it).
Regional Operations
For smooth operations, bKash has divided Bangladesh into ten regions:
1. Dhaka-North
2. Dhaka-South
3. Chattogram
4. Sylhet
5. Barishal
6. Bogura
7. Rangpur
8. Khulna
9. Cumilla
10. Mymensingh
Current Reach
More than 70 million people are directly connected with bKash, making it a key player in
financial inclusion in Bangladesh.
Services Offered
bKash is a popular mobile financial service in Bangladesh that offers a variety of easy-to-use
services:
1. Send Money:Transfer money instantly to any bKash account across the country.
2. Cash In: Deposit money into your bKash account through nearby agents or partner banks.
3. Cash Out: Withdraw cash from your bKash account at authorized agents or ATMs.
4. Payment: Pay for goods and services at various merchants by scanning QR codes or using
payment gateways.
5. Mobile Recharge: Recharge any mobile number directly from your bKash account.
6. Pay Bill: Settle utility bills, such as electricity and internet, conveniently through bKash.
7. Savings: Save money with bKash's savings schemes and earn interest on your balance.
8. Loan Access: Small loans directly from your bKash account to meet urgent financial needs.
9. bKash to Bank: Transfer funds from your bKash account to various bank accounts seamlessly.
10. Request Money: Ask other bKash users to send you money when needed.
11. Remittance: Receive money from abroad directly into your bKash account through
authorized partners.
12. Microfinance: Repay microfinance loans easily using your bKash account.
13. Education Fee: Pay educational institution fees directly from your bKash account.
14. Donation: Contribute to various charitable organizations effortlessly through bKash.
15. Insurance: Pay insurance premiums and manage policies using your bKash account.
16. Add Money: Add funds to your bKash account from linked bank accounts or cards.
17. Personal Retail Account: Small business owners can open a Personal Retail Account to
manage business transactions efficiently.
Benefits of Using bKash:
Fast Transactions: Complete financial transactions quickly.
Affordable Services: Enjoy low-cost financial services.
Wide Coverage: Access services nationwide.
Secure and Convenient: Experience safe and user-friendly services.
Support for Small Businesses: Utilize services tailored for entrepreneurs.
Financial Inclusion: Benefit from services designed for all, including those without traditional
bank access.
Organizational Structure
bKash started in 2011 with only 12 employees. Today, it has grown significantly and is divided
into various divisions and departments.
Each division is headed by a Chief Experience Officer (CXO).
Departments within divisions have Heads of Department (HOD).
Other roles include General Manager, Deputy General Manager, Manager, Assistant Manager,
Senior Officer, and Officer.
The Human Resources (HR) department assigns business partners to support different divisions.
Human Resource Department of bKash
bKash is known for its trustworthiness and commitment to delivering reliable mobile financial
services, including money transfers, bill payments, and airtime purchases. The company's
success is built on skilled employees, advanced technology, and dedication to helping people.
bKash believes that the quality of its service relies on well-trained staff, and its Human Resource
Department (HRD) plays a key role in employee development, ensuring both personal and
professional growth.
The HRD at bKash is focused on continuous training and employee well-being. They regularly
conduct in-house and external training for employees to improve their skills and knowledge.
bKash uses a Performance Management System (PMS) to evaluate employee performance
quarterly. Regular Employee Relations Programs (ERPs) help maintain a positive work
environment and address any concerns employees may have.
Training plays a major role in improving work relationships, boosting morale, and increasing
productivity. Well-trained employees are less likely to leave the company and are more loyal.
Training also helps employees develop their careers, improving both service quality and
customer satisfaction.
Key HR Activities at bKash:
1. Employee Selection and Hiring
bKash’s HR department is responsible for hiring employees. Department managers provide HR
with job requirements, and HR creates job descriptions to guide recruitment.
2. Recruitment Process
Forecasting: Managers predict the number of employees needed in a department and inform HR.
This forecasting process is now enhanced with AI-powered tools that help bKash predict future
workforce needs more accurately.
Need Analysis: HR evaluates why a new hire is needed, such as filling a vacancy or starting a
new project. This process is streamlined through better data analysis, allowing for quicker
decision-making.
CV Collection: HR collects resumes from both internal and external candidates. They first prefer
internal candidates and then search externally if necessary. Common sources for external
candidates include:
● Campus Recruitments: Job fairs and career counseling at universities.
● Job Websites: CVs submitted online through websites like LinkedIn, [Link], and
others.
● Internship Programs: bKash offers internships, which also serve as a recruitment tool.
Interns often get hired as full-time employees after successful completion.
● Social Media: LinkedIn, Facebook, and other platforms are heavily used to identify and
recruit potential candidates. The use of social media has become even more vital,
especially in the post-pandemic work environment.
3. Selection Process
bKash's selection process focuses on the skills and experience relevant to the job. For new
employees, they look at extracurricular activities and knowledge in specific subjects. For
experienced candidates, they prioritize past achievements and work history. The process has
become more data-driven, with online assessment tools and AI-powered platforms helping
streamline shortlisting and interview scheduling.
4. Strategic Human Resource Management (SHRM)
SHRM involves aligning HR activities with the company’s goals to improve performance. A
strategic HR approach at bKash helps improve individual performance, job satisfaction, and
organizational commitment. By following a SHRM system, bKash enhances organizational
efficiency and employee satisfaction, contributing to the company’s overall success.
bKash’s human resource strategy also includes integrating external vendors (agents) who allow
customers to open accounts, making the service more accessible across the country. The HR
department focuses on keeping costs low, especially for temporary agents, by offering low
compensation compared to permanent employees. They have further strengthened this
integration with mobile-based training tools to provide consistent learning opportunities for
agents in remote areas.
5. Training and Development
Training is a priority at bKash, with both in-house and external training programs provided to
employees. The HR department manages training for new employees to help them learn about
the company’s policies and operations.
[Link] Launch: bKash has established '[Link]' to prepare employees for future
challenges. Through its 'Learning Fest,' employees receive training in areas such as innovation,
presentation, project management, communication, and data analytics.
bTechWhiz Program: The company has launched 'bTechWhiz,' a talent hunt and development
program aimed at identifying and nurturing technical talent. This initiative is part of bKash's
commitment to fostering a skilled workforce.
GenNext Leader Program: bKash continues to offer the 'GenNext Leader' program, a
Management Trainee initiative designed for university students. This program helps participants
develop leadership skills and prepares them for future roles within the company.
bnext Internship Program: The 'bnext' internship program is back for Fall 2024, providing
students with hands-on experience in the mobile financial services industry. The program offers
opportunities to work on real projects and gain valuable insights into the company's operations.
Induction Training: This introduces new employees to the company and its operations. The
induction program is increasingly using digital platforms to make the onboarding process
smoother and faster.
Quality Control (QC) Training: Focuses on training personnel who handle complaints, fraud
cases, and service requests. bKash has incorporated new digital tools to enhance training for QC
personnel.
Equipment-Oriented Training: Provides technical training to ensure employees handle equipment
according to company standards and safety procedures. Now, virtual reality (VR) training tools
are also used to simulate equipment handling in a controlled environment.
Performance and Process Control Training: Helps employees understand the procedures needed
to maintain high product and service standards. This training is increasingly offered via online
platforms, allowing employees to complete courses remotely.
6. Performance Appraisal
HR at bKash evaluates employee performance to determine potential pay raises and identify
areas where employees may need improvement. Performance reviews help employees grow and
contribute to the overall goals of the company. The process now uses an online performance
management system that allows real-time feedback, setting clear goals, and improving
transparency in evaluations.
7. Compensation
Compensation at bKash is based on employees' job grades. Directors and managers typically
receive higher pay than analysts or coordinators. The HR department compares salaries within
the industry to ensure fair compensation. In recent years, bKash has also introduced flexible
benefit packages, allowing employees to select benefits that best suit their needs. Moreover, with
the growing trend of remote work, bKash offers competitive salaries based on employee
location, further enhancing work-life balance.