Human Resource Management Practices in Private Sector Service Organizations: A Case Study of IDLC Bangladesh Ltd.

Abstract

This paper examines the Human Resource Management (HRM) practice of International Development Leasing Company (IDLC). The objective is to highlight the salient HRM features of the firm that makes it different from other organizations (both public sector and private sector firms in Bangladesh) in terms of its improved business performance, employee motivation, and low turnover rate. A qualitative case study research approach has been followed in conducting the study. The study finds that IDLC HRM practices such as the equal employment opportunity, merit-based selection, performance-based pay and promotion largely helped IDLC to be top performer in the financial services sector. The study also reveals that the recruitment, training and salary packages/promotions are competence based in the private sector that is largely non-existent in the public sector in Bangladesh.