A study on retirement provident fund and future of BPO (Business Process Outsourcing) sector in Bangladesh.

Abstract

My undergraduate career comes to an end with the completing of my internship report. Throughout the entire journey, I picked up many concepts, theories, and methods, but I wasn't aware of how they could be used in real life. The internship, however, offers the chance to apply that knowledge in a real-world setting. After finishing my internship at Data-Path Ltd, I now have the opportunity to obtain some practical experience. From there, I learned the fundamental principles of how the business world operates. By working there I realized the future of Bangladesh's BPO sector looks promising. With a young and adaptable workforce, cost advantages, and evolving technology, we already proved our capabilities. Otherwise, Foreign countries' projects like 401(k) plans would never keep their trust on us to get the job done. As a result, this steady growth of the BPO sector in Bangladesh indicates that we have potential to become a major player in the global BPO industry. The US government is committed to protecting the fundamental rights of its senior citizens by providing financial assistance and making necessary regulations. Employers are given guidelines by the IRS & DOL so that they can offer regular employees the required retirement benefits. In the USA, this is commonly known as a retirement 401k plan where employers offer a variety of benefits to employees so they won't have to worry about their financial situation when they retire. A Third-Party Administrator (TPA) company typically handles all aspects of planning and execution, and Datapath works for a TPA company called July Services. While working at Data-path, a BPO (Business process outsourcing) company the more I have learned about July services and other TPA firms, I've come to realize the significant scope of TPA businesses, especially with Data- Path excelling as a BPO and attracting more clients. So, the intention of the project was to identify the factors influencing the outsourcing industry and how can Bangladesh become the dominant force of the global outsourcing world in the near future. Here is the summary of how I depicted my report. In the First chapter, I introduced myself and provided information about the company where I did my internship. I described the tasks I was responsible for during my internship and discussed what I learned from the experience. I also talked about how I improved my communication skills by being dedicated to the organization. Additionally, I shared some challenges I faced and offered suggestions for making the company better. In the second part of the report, I gave a brief review of Data-Path Ltd. and provided an introduction to the company. I discussed the management practices employed by the company and conducted an analysis of the industry and its competitive landscape. In the third chapter, I outlined the report's background and objectives. I explained the methodology used, which primarily relied on qualitative research methods. To gather information, I used both primary and secondary sources, including training materials, interviews with company employees, the company's website, research papers, and documents. I also highlighted the importance of the issue. In this chapter, I presented my findings and analysis regarding 401(k) plans and the future of the BPO sector in Bangladesh. Finally, I provide recommendations across various aspects. In Chapter Four, I concluded the chapter by presenting my final conclusions.