MNCs & Local Enterprises’ HRM Practices in Bangladesh: A Comparative Study

Abstract

This investigation enquires the contemporary Human Resource Management (HRM) practices employed within premier multinational and indigenous corporations operating in Bangladesh. Additionally, it undertakes a comparative inquiry into these practices across the two distinct organizational categories. The study endeavors to elucidate and juxtapose the HRM methodologies embraced by multinational conglomerates and homegrown enterprises in the Bangladeshi business milieu. For a specific purpose, a careful selection process was undertaken, identifying ten multinational corporations (MNCs) along with local enterprises. These selections were based on a comprehensive array of human resource management (HRM) variables, covering areas such as recruitment and selection, training and development, compensation and benefits, employee engagement and retention, performance appraisal, talent management, workplace health and safety, among others. Furthermore, a detailed analysis was conducted, delving into various sub-variables within each HRM aspect. The research methodology involved subjecting these variables to rigorous statistical scrutiny to ascertain their significance as contributing factors. Various statistical measurements were employed to gauge the extent to which these variables impact overall performance. The outcomes of this analytical process proved to be groundbreaking, as they revealed insights that were previously unexplored. These findings were presented through comprehensive assessments, shedding light on the intricacies of HRM practices within the selected companies. Subsequently, the research delved deeper into the identification of existing problems within the realm of performance appraisal practices. By thoroughly examining the data and drawing comparisons across the selected enterprises, critical issues were uncovered. These issues ranged from inconsistencies in evaluation criteria to disparities in performance feedback mechanisms. Moreover, the research did not stop at identifying problems; it also endeavored to provide viable solutions and recommendations. By synthesizing the findings and drawing upon best practices in the field of HRM, actionable recommendations were formulated. These recommendations aimed to address the identified limitations in performance appraisal practices effectively. On the whole, this research represents a significant contribution to the understanding and enhancement of HRM practices in both multinational corporations and local enterprises. By adopting a comprehensive approach that encompasses multiple variables and sub-variables, coupled with robust statistical analysis, the research offers valuable insights into the intricate dynamics of HRM. Furthermore, by offering practical recommendations, it seeks to bridge the gap between theory and practice, paving the way for more effective and efficient HRM strategies in the corporate world.