Human Resource Management Practices and Employee Retention in Shipbuilding Industry of Bangladesh
Journal Title: Saudi Journal of Business and Management Studies - Year 2017, Vol 2, Issue 12
Abstract
Abstract:Bangladeshi shipbuilding is a growing industry. The last decade and half of shipbuilding in Bangladesh have experienced a good growth, and the next two decades promise even greater growth as 50% of the world's seafaring ships are more than 20 years old. Additionally, the fact that older shipbuilding countries such as Japan, China, South Korea, and European countries are only interested in building commercial ships above 25, 000 DWT means that countries such as Bangladesh have a greater scope for increasing market share. Bangladesh has ample manpower, however, lacks skilled shipbuilding technicians and machinists, as well as advanced shipbuilding designing technology and personnel. The industry is working hard to address these challenges to their businesses through increasing training and development programmes. Employee turnover, however, threatens to lead to loss of knowledge and financial loss from losing trained employees. The study has presented statistical results from experience survey of industry experts to reveal that HRM malpractice, in areas such as compensation, worker safety, and job security is a potential contributor to employee turnover in the Bangladeshi shipbuilding industry. Keywords:Shipbuilding, HMR Practice, Retention, Pay, Safety, Job Security.
Authors and Affiliations
Md Shahid Iqbal
Keywords
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