Establishing HR Consulting Firm in Bangladesh

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Introduction:

With the rising demand of Managing Human Resources Business organizations are facing huge

challenges. So, by analyzing the market possibilities and the risk we selected HR Consulting

Business for future. The Name of the Company will be “Empower HR Solution” .The mission of

the company is giving the total HR solution to the Business organizations those who are wanted

a reliable firm to manage their HR & HR related Issues.

Characteristics of B2B organization that Match With the Company:

Fewer, Larger Buyers: Although the main focus of our business is give service to maximum

number of organization to maximize the profit but we will focus few leading business

organization of Bangladesh who have manage considerable amount of Human Resources. So, we

will be able to gain the profit by providing effective services to few leading organizations.

Direct Purchasing: We will serve the organization directly from our office. There will be no

middleman regarding the service to our client. Our Sales executive will be able to convince and

ensure them for better service.

Close Customer Relationship: As we planning to give service to very few organizations,

maintaining the good relationship with our client will be high priority because if we lose one of

them it will create a massive cost.

Several buying Influences: The HR Practices are controlled by Human Resource Department of

the organization. For giving the services from us we have to pass at least two barriers first is HR

department and second is Accounts & Finance department.

Derived Demand: The Demand for HR Consulting from us will be increased as per the rising

demand of our client Business organization.

Our Target Audience:

Bank & Financial Organizations: There are more than 60+ Banks with more than thousands

operating branches and ATM booths around the Bangladesh. It will be most potential sector to

focus because every year a single bank recruits hundreds of employees.

Establishing HR Consulting Firm in Bangladesh

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Multinational Companies: These types of organization have thousands of employees to

Manufacture, Marketing & Distribute their products. Every single day they face challenges to

recruit, Select and Train the employees. So our target will be finding best suitable employees for

these clients and effectively give after market service.

RMG Manufacturers: With more than 5000 RMG factories Bangladesh has booming market

possibilities in RMG industry .Not only Operational level it recruit a large amount of skilled

talents in their administration . Most of time, these companies hire professionals from abroad,

which are very costly. So, our target will be Select the skilled employees from Bangladesh &

give proper guidelines to get these position easily.

4P’s

Product: We will provide Human Resource Recruiting, Selecting, Training & Development,

Background Investigation facilities of our clients so that they do not need to face any challenges

to manage their employees.

Price: Our Price will be comparatively lower than existing HR firms, although we will provide

the leading companies premium services but the price will be at Medium level. So that we can

retain our clients for longer period of time and obviously, Retaining existing customer is more

profitable than new customer.

Place: Our office will be locate in a corporate area where all the company’s head quarters are

located so that they can easily access to our office to get the service. Literally, there will be no

geographical barriers to reach our company from any of our client. An Interactive website will be

developed where our client can know about our services at the cost. They can choose or make

their own packages of HR Solution after than we will be in their doorstep.

Promotion: As a business organization we will be more focused on Business Consumer. So we

will provide our ads on weekly & monthly Business Magazines, LinkedIn, Job Fair Promotion &

Outdoor campaigns in Universities.

Establishing HR Consulting Firm in Bangladesh

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Michael Porter’s Five Forces Analysis:

Bargaining Power of Customer: The bargaining power of our clients will be bit higher just

because of attractive offerings from other HR firms. In this case we are able to compete with

them because we will offer all in one HR Solution that, our client do not have to pay another for

solving any HR related issues.

Bargaining Power of Supplier: As a young organization we have to face some challenges to

target the leading clients but we can ensure them the right service at the right place in right time

our commitment will be we can give the HR Solution within72 Hours only where other firms

take about one month so it will be attractive proposal to our client and it will be easier to bargain

with them.

Threats of New Entrance: For the booming market possibilities and low risk entrepreneurs are

being more devoted to establish a HR firm Even Students who did not graduate yet are

establishing HR firms and some cases they became successful in very short time. For Example,

EDGE Consultancy the started their firm when they are undergraduate student within 2 year they

able make their employee 5 to 50.

Threats of Substitute: Nowadays some smart organization hiring leading HR Professionals to

look after their HR issues rather than going to a HR firm. But it has been found that, HR Firms is

more effective than one qualified HR professional. Because we will able to do the task more

effectively.

Competitive rivalry: The number of HR firm is Comparatively lower than any other developing

countries by it is the growing sector few leading companies like Grow N Excel , Genex , HR

Bangladesh is doing very well and they have fewer, larger buyers but we hope we will succeed

because we will hit the Price & Quality.