Running head: HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED

HR Wizards
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 2

Date: 15-11-2023

Limuza Fairuz

Lecturer

Army Institute of Business Administration, Sylhet

Subject: Submission of our HRM report on the Human resource Practice of Beximco

Pharmaceuticals Limited (BPL)

Dear ma’am,

We hereby submit our term paper on “Human Resource Practice of Beximco Pharmaceuticals

Limited (BPL)” for your course “Human Resources Management”.

To compile this paper with the appropriate and necessary information, all of us have given the

utmost effort in accordance with your well-defined instructions. We proudly claim the

authenticity of our paper in conducting our research with due credit to the various credible

sources on the internet, which we have cited throughout the paper. We believe that you will

find all the information necessary regarding the given topic. We would like to thank you for

assigning us this project, as we always appreciate the opportunity to learn. If you need any

further assistance from us regarding our paper, please feel it within your entitlement to

contact us!

Most sincerely,

Md. Basiur Rahman Salman

On behalf of the team.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 3

Executive Summary

Human Resource Management (HRM) refers to the strategic and comprehensive approach

to managing an organization's most valuable asset—its human resources or workforce. Human

Resource Management practices encompass the various activities, policies, and processes that an

organization implements to manage its human resources effectively. These practices are designed

to attract, develop, motivate, and retain a skilled and engaged workforce.

This report delves into the intricate realm of Human Resource Practices within the context

of Beximco Pharmaceuticals Limited (BPL). The objective is to provide a nuanced understanding

of the various facets of HR management within the organization, shedding light on critical

functions such as planning, recruiting, selection, performance appraisal, and employee

compensation. We analyzed the company's HR strategy using various models, such as SWOT and

PESTEL analyses. We identified an issue in the present HR strategy and devised a new strategy to

address it, as well as providing reasons for and methods for adopting the new approach. In addition,

based on the findings, we provided some recommendations.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 4

Table of Contents
Executive Summary ...................................................................................................................................... 3
Human Resource Practices of Beximco Pharmaceuticals Limited ............................................................... 7
Literature Review.......................................................................................................................................... 8
Planning and Requisition of Beximco Pharmaceuticals Limited .................................................................. 9
Recruitment at Beximco Pharmaceuticals Limited ..................................................................................... 10
Recruitment and Selection Process ............................................................................................................. 11
Source of Recruitment of Beximco Pharmaceuticals Limited .................................................................... 12
Internal Source ........................................................................................................................................ 12
External Source ....................................................................................................................................... 12
Job Posting Programs.............................................................................................................................. 12
Advertisement ......................................................................................................................................... 12
Employee referrals .................................................................................................................................. 13
Employment Agency............................................................................................................................... 13
Consulting the CV Bank ......................................................................................................................... 13
Selection Process of Beximco Pharmaceuticals Limited ............................................................................ 14
Screening the CVs................................................................................................................................... 14
Written Test ............................................................................................................................................. 14
Interview ................................................................................................................................................. 14
Employment Decision ............................................................................................................................. 15
Pre-Employment Medical Check-Up ...................................................................................................... 15
Offer Letter ............................................................................................................................................. 15
Weightage and Time Chart of Recruitment Protocol for Medical Representatives .................................... 16
Orientation Process of Beximco Pharmaceuticals Limited ......................................................................... 17
Training and Development of Beximco Pharmaceuticals Limited ............................................................. 18
Functional Training ................................................................................................................................. 18
Behavioral Training ................................................................................................................................ 18
On-The-Job-Training .............................................................................................................................. 19
Off-The-Job Training .............................................................................................................................. 19
Appraisals ................................................................................................................................................... 20
Self-appraisal system .............................................................................................................................. 20
Points Graphic Rating Scale ................................................................................................................... 20
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 5

Compensation and Benefits of Beximco Pharmaceuticals Limited ............................................................ 21

SWOT Analysis .......................................................................................................................................... 22
Strengths ................................................................................................................................................. 22
Comprehensive Recruitment Process.................................................................................................. 22
Effective Training Programs. .............................................................................................................. 22
Employee Benefits. ............................................................................................................................. 22
Strategic HR Policies. ......................................................................................................................... 22
Weaknesses ............................................................................................................................................. 22
Reliance on Traditional Methods. ....................................................................................................... 22
Limited Diversity and Inclusion. ........................................................................................................ 23
Dependency on Employee Referrals. .................................................................................................. 23
High CGPA Requirement. ................................................................................................................... 23
Opportunities........................................................................................................................................... 23
Diversification of Sourcing. ................................................................................................................ 23
Technological Advancements.............................................................................................................. 23
Global Talent Acquisition. .................................................................................................................. 23
Embracing Remote Work. ................................................................................................................... 24
Partnerships with Educational Institutions. ......................................................................................... 24
Threats .................................................................................................................................................... 24
Talent Poaching. .................................................................................................................................. 24
Regulatory Challenges. ....................................................................................................................... 24
Technological Disruptions. ................................................................................................................. 24
Economic Uncertainty. ........................................................................................................................ 24
Changing Labor Laws. ........................................................................................................................ 24
PESTEL Analysis ........................................................................................................................................ 25
Political ................................................................................................................................................... 25
Economic ................................................................................................................................................ 25
Social ...................................................................................................................................................... 26
Technological .......................................................................................................................................... 26
Environmental ......................................................................................................................................... 26
Legal ....................................................................................................................................................... 26
The Identified Issue..................................................................................................................................... 27
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 6

New HR Strategy for Beximco Pharmaceuticals Limited .......................................................................... 28

Holistic Talent Assessment ..................................................................................................................... 28
Diverse Sourcing Channels ..................................................................................................................... 28
Continuous Learning and Development ................................................................................................. 28
Feedback Mechanism.............................................................................................................................. 28
Reasons for Implementing This Strategy .................................................................................................... 30
How to Implement the Strategy? ................................................................................................................ 31
Training and Awareness Programs .......................................................................................................... 31
Skill-Based Assessments ......................................................................................................................... 31
Collaboration with Educational Institutions ........................................................................................... 31
Promote Internal Mobility....................................................................................................................... 31
Regular Feedback Loops......................................................................................................................... 31
Diversity and Inclusion Initiatives .......................................................................................................... 32
Findings .................................................................................................................................................. 33
Conclusion .............................................................................................................................................. 34
Recommendations ................................................................................................................................... 35
References ................................................................................................................................................... 37
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 7

Human Resource Practices of Beximco Pharmaceuticals Limited

Beximco Pharmaceuticals Limited (BPL), established in 1976, a key player in

Bangladesh's private sector and part of the Beximco Group, has become a global pharmaceutical

leader. BPL, with a workforce of 3,500 employees, holds a substantial market share, listing on the

Dhaka and Chittagong stock exchanges since going public in 1985. With an authorized capital of

2,000 million, BPL exports quality medicines to over 50 countries in Asia, Africa, and Europe.

Notably, the company has achieved the National Export Trophy (Gold) five times in a row since

1994-1995, showcasing its commitment to excellence. BPL's diverse range of 80 formulations,

covering major therapeutic groups, maintains high quality and cost-effectiveness. Adhering to

global standards, its manufacturing facilities are audited and approved by leading international

agencies. BPL's adaptability to market dynamics and emphasis on diversification underline its

resilience in the ever-evolving industry (Beximco Pharmaceuticals Ltd., 2023).

Beximco Pharma's recruitment involves internal and external sourcing, including job

postings and succession planning for internal roles. They emphasize candidate abilities and

qualifications in their selection process, ensuring the company gets efficient candidates. New hires

undergo an orientation program to understand their job roles and company rules from day one. The

company focuses on enhancing employee efficiency through both on-the-job and off-the-job

training. Performance evaluations are conducted using a combined rating scale and a computerized

system. Employee benefits include provident funds, retirement plans, sick leave, parental leave,

severance pay, and various insurances. Overall, Beximco Pharma strategically formulates HR

policies to develop the competencies needed to achieve its goals (Musharraf et al., 2022).
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 8

Literature Review

Human Resource (HR) practices within the organization cover strategies for managing

human capital efficiently, including recruitment, training, and performance management. These

practices also address employee relations, compensation, legal compliance, and strategic planning

aligned with organizational objectives. By fostering a positive workplace culture and promoting

diversity and inclusion, the organization aims to attract top talent and contribute to overall success

(Barney, 2023).

Recruitment is the process of identifying, attracting, and hiring qualified individuals to fill

job vacancies within an organization. Training involves providing employees with the necessary

skills, knowledge, and abilities to perform their roles effectively. Performance management is a

systematic process that involves setting clear performance expectations, regularly assessing

employee performance, providing feedback, and taking actions to improve or recognize

performance. Compensation refers to the total rewards, including salary, benefits, bonuses, and

other perks, provided to employees in exchange for their work and contribution to the organization.

Diversity and inclusion involve creating a workplace that values and respects individual

differences. Diversity encompasses differences in race, gender, age, background, and more, while

inclusion ensures that all individuals feel valued and included in the organizational culture (Human

Resource Management: Functions and benefits, 2023)

Understanding and effectively implementing these HR practices contribute to creating a

healthy and productive work environment, attracting and retaining top talent, and ultimately

driving organizational success.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 9

Planning and Requisition of Beximco Pharmaceuticals Limited

The planning process helps evaluate the organization's human resources, current position,

and future structure. This is the starting point from where the other functions are being started to

achieve the goals. BPL typically anticipates its workforce needs concerning new projects,

challenges, strategic objectives, technological advancements, and internal or external changes to

enhance productivity. They believe that alternative methods might not entirely fulfill personnel

requirements. Thus, to fill vacant positions, job descriptions, and employee specifications are

crafted by the respective department head and approved by HRD (Akash, 2023).
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 10

Recruitment at Beximco Pharmaceuticals Limited

The HR department is responsible for performing the recruitment tasks. Job description &

specification provides the necessary facts on which the recruitment process starts. The function of

recruitment of BPL is given below:

• Needs assessments;

• Defining the position description;

• Advertisements;

• Screening and short-listing applicants;

• Written test;

• Selection interview;

• Pre-employment medical checkup;

• Offer letter;

• Orientation;

• Placement;

• Follow up.
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 11

Recruitment and Selection Process

There are some features for recruiting and selecting the candidates of Beximco

Pharmaceuticals Limited, such as,

• Both mental strength and practical knowledge hold their own importance.

• They prefer a CGPA of 3.50 to 4 out of 4 from any reputed public or private university.

• Attitude is given as much weight as age as functional competencies.

• Panel interviews comprising of Functional Head & HR Head.

• Antecedent verification is an integral part of their recruitment process.

• Positions in Officer Cadre, GET, and MT involve written tests.

• Medical fitness is a prerequisite for all positions.

• Recruitment sources: campus, consultants, referrals, postings, Internet.

• BPL practices non-discriminatory, unbiased policies regarding age, gender, religion, etc.
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 12

Source of Recruitment of Beximco Pharmaceuticals Limited

Internal Source

Within the organization, there could be someone who is qualified for the role. If there is,

existing personnel are shuffled to make room for the chosen individual in the new position. If there

is no such individual exists within the organization, the management proceeds to the second phase

(Akash, 2023).

External Source

The company explores all possibilities and will recruit external candidates based on the

best match for the job requirements in terms of experience, education, training, and competencies.

If no qualified internal candidate is found at BPL, an external advertisement will be used, followed

by selection procedures.

Job Posting Programs

Job posting informs interested candidates about vacant positions, and responsibilities, and

invites applications, typically on the office notice board. This program motivates the current

employees to join the HRD recruitment team for assistance so that the employees can feel the

importance of their roles and positions. Usually, only lower-level positions are posted in this

manner, not all vacancies (Alam, 2017).

Advertisement

BPL advertises in national dailies in both Bangla and English. They use two types of ads,

sometimes concealing their identity with a GPO Box number to avoid external pressure but

recently revealed their identity to attract top talent. They also post job vacancies on online portals

like bdjobs.com to reach a wider pool of candidates.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 13

Employee referrals

Employee referral refers to the use of personal contracts to find job possibilities. It is a

recommendation for a job candidate from a current employee. Employee referral is based on the

premise that "it takes one to know one." Employees in this scenario are urged to recommend the

names of their friends who work in other organizations for a possible future vacancy.

Employment Agency

An agency locates and prescreens candidates, directing those who appear qualified to the

company for additional evaluation and selection. Only when an agency is well-informed about the

position it is seeking to fill can it conduct screenings efficiently. As a result, it is crucial that an

employee describe a position and its recruitment to an employment agency in as much detail and

precision as feasible (Alam, 2017).

Consulting the CV Bank

The data bank of unsolicited applications is consulted. If a person's qualities match the

qualifications listed in the job description, he or she is called in for an interview. If this is not the

case, the third step will be taken.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 14

Selection Process of Beximco Pharmaceuticals Limited

They begin by selecting a small number of candidates depending on their recruitment

criteria. There are different criteria for each department, and they are not all the same, but the

selected person is called in for the final interview. The interview time is chosen to be convenient

for the candidate, especially if he or she is working at the time of the interview. In that situation,

the time selected is after business hours (Alam, 2017).

Screening the CVs

During this phase, CVs undergo detailed screening considering language, presentation,

format, and educational background. Points are assigned for university type (e.g., BUET, DU,

BRAC, NSU), and for degrees, grades, CGPA, and divisions. The candidates are then shortlisted

based on their total marks from this thorough assessment.

Written Test

Following the screening of CVs, the shortlisted candidates are invited to take a written test.

However, it is not frequently followed for every recruitment. Depending on the designation or type

of position, candidates must answer questions such as basic knowledge, logical part, mathematical

part, situation-based, analytical questions, company information, current affairs, and so on.

Interview

The shortlisted candidates are invited for interviews, which may consist of multiple rounds

or a single face-to-face interview, based on job criteria. Interviews vary, using structured, semi-

structured, or unstructured methods, tailored to the designation. Management-level roles often

involve multi-stage sessions, including group discussions, leadership tests, and audiovisual

assessments to identify the best candidate (Akash, 2023).

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 15

Employment Decision

After the written test, the candidate receives specific conditions. If agreed with all the

conditions then the candidate is provided with a blank application form where he/she needs to fill

in some necessary information regarding himself/herself. This form is needed to be submitted

along with the CV. Once included in the company's PIS (Personal Information System), salaries

and compensations are managed based on this system.

Pre-Employment Medical Check-Up

Following the submission of the application, the candidate must undergo a medical

examination. This examination is performed at the company's designated medical facility.

However, the candidate is responsible for paying the medical checkup fees. The employer will not

pay for the medical examination.

Offer Letter

After a medical checkup, the candidate who was selected is given a formal offer letter. This

letter includes information such as initial salary, compensation, utilities, employment tasks, and so

on. This is the written document of the final selection and being one of the employees of BPL

(Alam, 2017).
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 16

Weightage and Time Chart of Recruitment Protocol for Medical Representatives

Table 1: Weightage Chart for Medical Representative

Weightage

Basic Science 15%

General Knowledge 5%

Logical & Analytical Ability 5%

Knowledge in Mathematics 10%

Knowledge of English. 10%

Written Test Converted to 5%

Interview 5%

Training 90%

Total 100%

Table 2: Time Chart for Recruiting Medical Representative

Processes Days

Requisition 1

Database preparation, Biodata evaluation, 15

Written test, script check, result publication 4

Interview & result publication 4

Training 40

Placement 3

Total 67
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 17

Orientation Process of Beximco Pharmaceuticals Limited

Orientation programmers are an integral part of the HRD process. Following their hire,

new workers must undergo an orientation program organized by BPL's HRD. This method can

help new employees have a better knowledge of the office environment, company conventions,

office culture, workplace behavior, and so on. Because everything is new to them, these variables

are critical to comprehend. So, in order to provide their best, individuals must first understand the

broad picture of the organization, which the orientation program provides (Alam, 2017).

BPL's orientation program is like a guide for new employees, giving them the lowdown on

the company and how things work. It's there to help them understand their jobs better so they can

do well. When employees know what they're doing and understand the workplace, they tend to be

more productive and aware of what they need to do. This not only makes them happier in their

jobs but also reduces the number of people leaving. BPL's commitment to a strong orientation

program shows they want their employees to know their stuff, be happy at work, and stick around

for the long run (Akash, 2023).

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 18

Training and Development of Beximco Pharmaceuticals Limited

Training is an event that modifies the techniques and skills of employees in order to

improve their ability and performance. Depending on the sort of training, it can develop attitudes,

values, skills, existing job knowledge, and so on.

BPL's training program is carried out on an annual basis as well as when new personnel

are hired. They created a list of functions to conduct the training program, such as when it will be

held, who will conduct the program, how many instructors will be present, whether they will be

hired from outside or inside the company, how many employees will sit for each slot, what the

duration of the training program will be, whether the employees should be sent abroad for training

or receive domestic training, training budget, availability of training aids, and use of those aids.

Their training program is designed mainly in two types, such as functional training and behavioral

training (Alam, 2017).

Functional Training

The training program is department-specific, tailoring content to meet the unique

requirements of each department such as HR, Marketing, R&D, and Production. It's designed

based on identified needs within each department, focusing on skills and knowledge relevant to

their roles.

Behavioral Training

These are training programs for soft skills including communication, manners, cultural

standards, anger control, and others. This kind of training is available to all BPL employees,

regardless of department.

Again, these two types of training are given in two ways:

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 19

On-The-Job-Training

At BPL, both new hires and existing employees engage in on-the-job training through

assignments, job rotations, and supervisor follow-ups. This approach integrates learning into their

daily responsibilities, covering various tasks like project work, machine operation, safety, and

report writing, enhancing employee knowledge without extra cost or time.

Off-The-Job Training

When necessary, BPL arranges training outside the organization, which is referred to as

off-the-job training. They train the employees with the help of an experienced trainer. Employees

are sometimes sent outside of the country to attend training programs, such as in Singapore or the

Netherlands. They provide this training so that their employees can become their manpower and a

valuable resource to their firm.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 20

Appraisals

The trainers evaluate the trainees' performances after they have participated in the training

programs. Employees' behavior, curiosity, readiness to participate in the new program,

determination, activity score, presence at seminars and workshops, and attitudes are all measured

and rated by trainers, superiors, peers, and supervisors, and feedback is provided (Alam, 2017).

At BPL appraisals are done by a few methods:

Self-appraisal system

A participative management strategy sets goals, and performance is measured

quantitatively in relation to those predetermined targets. Using a monitoring system, managers

evaluate their subordinates' performance.

Points Graphic Rating Scale

The appraisal process employs a scale ranging from 1 to 5, where 1 signifies unsatisfactory

performance, 2 for marginal, 3 for emphasizing certain aspects, 4 for superior, and 5 for excellent

performance. This open approach ensures that all employees are aware of the criteria used for

assessments, promoting a clear understanding of performance expectations and fostering a sense

of fairness across the organization.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 21

Compensation and Benefits of Beximco Pharmaceuticals Limited

Employees are encouraged to work harder for greater accomplishments by compensation.

It can be provided to the company's staff and employees in the form of cash, products, or services.

Usually, it is added to the employee's initial salary. Compensation in BPL is determined following

the annual performance review and appraisal. The various employee grades, including managers,

deputy managers, assistant managers, mid- and mid-level entry-level employees, and so on, are

given different pay and perks. Following the Likert Scale performance appraisal, employees

receive pay increases. Every two years, BPL's industrial workers would engage in collective

bargaining through the Trade Union at the staff or worker level. Every time there is a period of

collective bargaining, employee benefits rise. Incentives are also given to the workers and

employees, depending on the services provided and the nature of the treatments, BPL employees

may be eligible for medical benefits at particular hospitals (Alam, 2017). It can be up to 30%. The

employees can also have,

• Annual leave of 40 days,

• Maternity & paternity leaves,

• Allowance on hotel bookings,

• Retired benefits,

• Sick leave,

• Vacation & holidays,

• Insurance facilities,

• Discounts on additional brand-name products while the promotion is in effect. For instance,

goods from Yellow, a Beximco Group sister company.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 22

SWOT Analysis

SWOT analysis is a method for evaluating a company's performance, competitors, risk,

and potential. It can also be used to evaluate a specific business component, such as a division or

product line, an industry, or another entity (Kenton, 2023). A SWOT analysis is performed to

extract the strengths, weaknesses, opportunities, and threats of BPL’s HRM practices.

Strengths

Comprehensive Recruitment Process. BPL has a detailed and structured recruitment

process, ensuring they attract suitable candidates through various sources like job postings,

advertisements, and employee referrals.

Effective Training Programs. BPL invests in both on-the-job and off-the-job training,

enhancing employees' skills and competencies, ensuring they contribute effectively to the

organization.

Employee Benefits. BPL offers a wide range of employee benefits including provident

funds, retirement plans, parental leave, and various insurances, which attract and retain skilled

workforce.

Strategic HR Policies. BPL strategically formulates HR policies that focus on candidate

abilities, internal mobility, and competency development, aligning their workforce with

organizational goals.

Weaknesses

Reliance on Traditional Methods. While BPL uses online portals for job postings, their

reliance on newspaper advertisements and physical notice boards for recruitment might limit their

reach to potential candidates in the digital age.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 23

Limited Diversity and Inclusion. The provided information does not mention specific

initiatives related to diversity and inclusion. A lack of diversity in the workforce can limit creativity

and perspectives, hindering innovation within the organization.

Dependency on Employee Referrals. While employee referrals can be valuable, relying

too heavily on this method may create a closed network, limiting exposure to fresh talent from

different backgrounds and experiences.

High CGPA Requirement. Setting a high CGPA requirement (3.50 to 4 out of 4) may

exclude talented candidates who possess valuable skills and practical knowledge but did not

achieve exceptionally high academic grades. This approach could potentially overlook candidates

with relevant hands-on experience, creativity, and problem-solving abilities, leading to a narrower

talent pool. This adherence to high CGPA criteria might result in a homogeneous workforce in

terms of academic backgrounds. By focusing predominantly on high CGPA, BPL might miss out

on candidates with practical skills, creativity, and real-world problem-solving abilities.

Opportunities

Diversification of Sourcing. Exploring more diverse recruitment sources, such as

professional networking platforms and industry-specific forums, could broaden the pool of

potential candidates.

Technological Advancements. Embracing HR technology tools for applicant tracking,

data analysis, and training management can enhance efficiency and streamline HR processes.

Global Talent Acquisition. BPL could explore international recruitment strategies to

attract experienced professionals from diverse cultural backgrounds, fostering a more inclusive

and innovative work environment.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 24

Embracing Remote Work. With the rise of remote work trends, BPL could consider

embracing flexible work arrangements, allowing them to tap into a global talent pool and reduce

geographical constraints in recruitment.

Partnerships with Educational Institutions. Collaborating with universities and research

institutions can facilitate knowledge exchange, internships, and potential recruitment of fresh

graduates, ensuring a pipeline of new talent.

Threats

Talent Poaching. Competing pharmaceutical companies might actively recruit skilled

employees from BPL, leading to a loss of valuable talent and knowledge.

Regulatory Challenges. Stringent regulations in the pharmaceutical industry can pose

challenges in talent acquisition, especially when specialized skills and certifications are required,

leading to a limited pool of eligible candidates.

Technological Disruptions. Rapid advancements in automation and artificial intelligence

could lead to a decrease in demand for certain job roles, requiring BPL to continuously upskill and

reskill their workforce to match evolving industry needs.

Economic Uncertainty. Economic recessions or market instability can result in budget

cuts, affecting HR initiatives such as training programs and employee benefits, impacting

employee morale and retention rates.

Changing Labor Laws. Changes in labor laws and regulations can impact HR policies,

requiring constant adaptation to remain compliant and competitive in the industry.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 25

PESTEL Analysis

One strategic framework that is frequently used to assess the business environment

in which a company works is the PESTEL study. A PESTEL analysis is performed to delve into

the external factors that influence the organization (Peterdy, 2023).

Government policies and Advancements in technology

regulations related to labor and affect recruitment, training.
employment. Automation impacts job roles and
Employment laws and regulations. skills requirements.

Economic conditions affect the

availability of skilled labor.
Inflation rates impact salary
structures and compensation.
PESTEL Increasing focus on corporate
social responsibility
A AL SIS Environmental sustainability
initiatives and their impact

Cultural factors influence HR Health and safety regulations

policies and practices. impact workplace conditions.
Social attitudes toward work -life Anti -discrimination laws influence
balance and employee benefits. hiring and promotion practices.

Figure 1: PESTEL Analysis

Political

Changing government policies and regulations related to labor and employment may affect

HR practices, as well as employment laws and regulations. Government initiatives promoting

workforce development would also change HR practices of BPL.

Economic

Economic conditions of Bangladesh would affect the availability of skilled labor, as well

as inflation rates and their impact on salary structures and compensation. Exchange rates would

affect global talent acquisition.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 26

Social

Cultural factors influence HR policies and practices. Changing social attitudes toward

work-life balance and employee benefits affect HR practices.

Technological

Advancements in technology affect HR processes in terms of recruitment and training.

Automation and its impact on job roles and skills requirements would also change HR practices

from time to time.

Environmental

Increasing focus on corporate social responsibility and environmental sustainability

initiatives affect HR policies. Employee wellness programs and their connection to environmental

awareness would also bring changes to HR practices of BPL.

Legal

Health and safety regulations impact workplace conditions. Anti-discrimination laws

influence hiring and promotion practices in terms of promoting diversity.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 27

The Identified Issue

The major issue identified in Beximco Pharmaceuticals Limited's existing HR strategy lies

in the imposition of a stringent high Cumulative Grade Point Average (CGPA) requirement for

recruitment. This emphasis on academic achievement, while potentially ensuring a pool of

candidates with strong theoretical knowledge, inadvertently poses a threat to the diversity of talent

within the organization. By narrowly focusing on CGPA, the company may be overlooking

individuals with valuable practical skills, varied experiences, and unique perspectives that can

contribute significantly to the pharmaceutical industry (Sarwar, 2016). This approach not only

risks excluding candidates from diverse backgrounds but also neglects those possessing critical

soft skills and hands-on expertise crucial for success in a dynamic professional environment. A

reevaluation of the recruitment criteria to incorporate a more comprehensive assessment,

encompassing practical skills, relevant experiences, and a broader range of candidate backgrounds,

could enhance the organization's ability to tap into a more diverse and skilled talent pool, fostering

innovation and adaptability within the company (HR Dive, 2018).

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 28

ew HR Strategy for Beximco Pharmaceuticals Limited

Based on the problem identified from the weakness of BPL, we have tried to come up with

a possible four-step solution in the form of a new HR strategy for them.

Holistic Talent Assessment

Implement practical skill assessments and case studies during the recruitment process to

evaluate candidates' problem-solving abilities, creativity, and relevant industry skills. Place greater

importance on candidates' work experience, internships, and industry-specific certifications,

recognizing the value of practical exposure in addition to academic achievements (P.A., 2022).

Diverse Sourcing Channels

Partner with vocational schools and training programs to tap into a diverse pool of

candidates with specialized skills and hands-on experience. Utilize professional networking

platforms and online job portals to reach a wider audience, including candidates with non-

traditional educational backgrounds (S., 2023).

Continuous Learning and Development

Invest in training programs for existing employees to enhance their skills and

competencies, aligning with the company's evolving needs and industry advancements. Implement

leadership development initiatives to nurture internal talent, ensuring a pipeline of skilled

professionals for managerial positions.

Feedback Mechanism

Conduct surveys with candidates after the recruitment process to gather feedback on their

experience, allowing the company to identify areas for improvement and enhance the overall

candidate journey.
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 29

By adopting this new HR strategy, Beximco Pharmaceuticals Limited can address the issue

of limited talent diversity and create a more inclusive and skilled workforce. This approach not

only focuses on academic achievements but also values practical skills, experiences, and diverse

perspectives, ensuring a well-rounded and innovative team within the organization.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 30

Reasons for Implementing This Strategy

By valuing practical skills and diverse experiences, Beximco Pharmaceuticals can foster a

more creative and innovative work environment. Different perspectives contribute to problem-

solving and idea generation.

Emphasizing skills over academic achievements ensures that the workforce is adaptable to

changing industry demands. Practical skills enable employees to quickly adapt to new technologies

and methodologies.

Candidates with diverse backgrounds bring unique problem-solving approaches. Having a

workforce with varied experiences can lead to more effective and efficient solutions to challenges

faced by the company.

By tapping into non-traditional sources and emphasizing practical skills, Beximco

Pharmaceuticals can access a broader talent pool. This widens the range of potential candidates,

increasing the likelihood of finding the best fit for each role (HireHive, 2023).

Employees who are recognized and valued for their practical skills and experiences tend to

be more satisfied. This recognition can lead to higher morale, productivity, and overall job

satisfaction among the workforce.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 31

How to Implement the Strategy?

Training and Awareness Programs

Conduct training sessions and workshops for HR staff and hiring managers to raise

awareness about the importance of practical skills. Train them to recognize and appreciate diverse

talents during the recruitment process.

Skill-Based Assessments

Develop customized skill assessments for different job roles. These assessments should

focus on evaluating candidates' practical skills, problem-solving abilities, and industry-specific

expertise relevant to the position.

Collaboration with Educational Institutions

Establish partnerships with vocational schools, technical institutes, and industry-specific

training centers. These collaborations can serve as talent pipelines, providing a source of skilled

candidates with hands-on experience.

Promote Internal Mobility

Encourage internal employees to apply for different positions within the organization.

Recognize and reward employees who acquire new skills or certifications, promoting continuous

learning and internal growth.

Regular Feedback Loops

Implement a feedback system where candidates can provide feedback on the recruitment

process anonymously. Use this feedback to identify areas for improvement and make necessary

adjustments to enhance the candidate experience.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 32

Diversity and Inclusion Initiatives

Actively promote diversity and inclusion within the workplace. Ensure that policies and

practices are inclusive and unbiased, fostering an environment where employees from diverse

backgrounds feel valued and respected.

By following these implementation methods, Beximco Pharmaceuticals can effectively

transition to a talent strategy that values practical skills and diverse experiences, creating a

workforce that is adaptable, innovative, and capable of meeting the company's evolving needs.
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 33

Findings

Beximco Pharma showcases a highly effective workforce with robust management

processes, fostering a flexible working environment. Their organized recruitment, diverse

orientation programs, well-designed training methods, fair evaluation, and appraisal plans

contribute to their competitive edge. The company also offers attractive compensation and benefits

packages, positioning it as a formidable player in the growing market.

1. Effective planning takes precedence at BPL due to its critical role in shaping future

productivity, which relies on the selected employees post-planning. The planning team

implements a highly efficient strategy, outlining the required number of personnel for

specific positions and devising a proper implementation approach.

2. The recruitment and selection process at BPL is thorough and time-intensive. The

management team invests ample time to ensure they get the right candidate. Candidates

undergo a detailed and comprehensive selection process.

3. A positive aspect of BPL is its unbiased approach to the recruitment and selection process.

Regardless of age, gender, religion, or background, they focus on selecting the most

qualified candidate fairly.

4. BPL ensures fairness in employee evaluations and appraisals, relying solely on employee

performance as the key metric for measurement. The appraisal process is both equitable

and effective, selecting deserving candidates for rewards and motivation to enhance

productivity and proactiveness.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 34

Conclusion

In conclusion, the examination of HR practices at BPL reveals a strategic commitment to

fostering a positive work environment, employee development, and organizational success. By

implementing robust recruitment strategies, emphasizing employee training and development, and

incorporating innovative approaches such as flexible work arrangements, BPL demonstrates a

dedication to both individual and collective growth. In Bangladesh, the pharmaceutical sector is

experiencing rapid growth, with Beximco Pharmaceuticals Limited (BPL) emerging as a

prominent player significantly contributing to the country's economy. BPL is not only renowned

nationally but has also made a notable impact in the international business arena. As a key player,

BPL consistently generates employment opportunities for skilled individuals, recognizing the

necessity of a qualified and dynamic workforce to compete in the rapidly expanding market. The

management, particularly the HR team, plays a pivotal role in ensuring the company's success by

diligently working to recruit, develop, and maintain an exceptional workforce.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 35

Recommendations

After analyzing the process some recommendations may be suggested on it which are given

below:

1. The recruitment and selection process are time-consuming for both companies and

candidates. Streamlining the recruitment process benefits companies and candidates by

saving time and costs. Automated tools, online assessments, and video interviews expedite

initial screenings. Centralized communication platforms reduce delays, and a structured

interview process speeds up decision-making. Building talent pools and succession

planning ensure quicker future hires. Data analytics and continuous feedback loops refine

strategies. Clear job descriptions attract relevant candidates, cutting down on irrelevant

applications. In summary, these practices create a more efficient, cost-effective, and

candidate-friendly recruitment process, allowing resources to be allocated to other

priorities.

2. While educational background and grades are important, it's crucial to recognize that they

might not capture a candidate's full qualifications. Prioritizing practical skills and real-

world knowledge provides a more comprehensive assessment. Practical skills showcase

adaptability and problem-solving abilities, ensuring candidates are well-equipped for

professional success. This holistic approach values experiential learning, identifying

individuals with a well-rounded skill set beyond academic achievements. It contributes to

building a dynamic and effective workforce.

3. Organizing advanced training sessions and seminars for employees is a proactive strategy

to elevate their professional capabilities. These initiatives provide a structured platform for

skill development and knowledge enhancement, ensuring that the workforce remains
HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 36

abreast of industry trends and innovations. Additionally, sending employees to participate

in key corporate workshops and seminars is a valuable investment in their professional

growth.

4. Enhancing compensation and benefits by offering appealing perks beyond the standard

package can significantly contribute to attracting and retaining top talent. Consider

introducing amenities like onsite daycare facilities, gym access, and a food court, as these

have become increasingly attractive to employees in comparison to traditional benefits.

Onsite daycare facilities alleviate the work-life balance struggle for parents, making your

workplace more family-friendly. Gym access promotes employee well-being, fostering a

healthy and energized workforce. A food court adds convenience, saving time for

employees and creating a vibrant workplace atmosphere. These modern and personalized

benefits not only differentiate your organization in the competitive job market but also

contribute to employee satisfaction, engagement, and overall retention.

HR PRACTICES OF BEXIMCO PHARMACEUTICALS LIMITED 37

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