Determinants of employee retention of financial institutions : a case study on bKash

Abstract

Financial Services (MFS) Provider of Bangladesh. It discusses the employee retention practices of the organization from a human resource management perspective. I worked in the Recruitment and Training department of the Human Resources Department. My tasks included coordination of interviews, screening of CVs, supporting the onboarding, supporting events and managing HR data. The report combines some of the insights I have gained from my work, in combination with research on how to retain employees. IT identifies key factors that affect retention at bKash, which include: ● Competitive compensation & performance-based rewards. ● A purpose-driven culture with a focus on financial inclusion. ● Careers Development opportunities through training and leadership programs. ● Trust-based leadership using S.T.E.E.R. Leadership Code ● Appreciation systems such as the STAR Award and CEO's Award. ● Employer branding policies and employee well-being policies. The results indicate that the overall retention strategy of bKash follows the global best practices for the FinTech sector to a great extent. While having good pay is important, things such as meaningful work, opportunities for growth, and good leadership make a huge difference when it comes to employee loyalty. The report also highlights areas for improvement, such as the addition of flexible work options and personalized recognition programs. Overall, this internship provided me with some useful knowledge of the HR operation in a big company. It helped me relate what I learned in school with real-world experience, and develop the skills that are professional and pertain to my career goals in human resources.