Bangladesh, situated atop the Bay of Bengal, is a country teeming with excitement. Despite its status as the world’s eighth most populous country, Bangladesh remains an underappreciated source of talent. So, if you’re considering expanding your global talent pool, Bangladesh should be at the top of your list.
With a population of approximately 170 million people, Bangladesh is one of the most densely populated countries in the world. Its population is also young compared to the world average–It has a median age of roughly 28 years, with 26% of the total population aged 14 or younger.
Bangladesh has traditionally been known as one of the world’s leading garment producers, boasting a vast pool of skilled textile workers. However, the government’s goal is to achieve upper-middle-income country status by 2031 by developing a diversified and competitive private sector.
In terms of work culture, the working week in Bangladesh typically runs from Sunday to Thursday, with Friday and Saturday being the weekend. The emphasis on community and cooperation in the workplace is a testament to the country’s collective spirit, making Bangladesh a promising destination for hiring a dedicated and committed workforce.
The benefits of doing business in Bangladesh
Still on the fence? Let’s dive deeper. Bangladesh is a hub for a range of industry specialties. As mentioned, the country is globally acclaimed for its textile industry, which is one of the largest worldwide. But the country is also home to an innovative finance industry which pioneered the field of microfinance, a practice which involves providing small loans to nontraditional borrowers like the poor.
As a developing economy, Bangladesh has several priority sectors for investment, including IT, overseas employment, shipbuilding, and renewables. The country’s focus on enhancing its capabilities in multiple areas makes Bangladesh an attractive destination for businesses looking to strengthen their teams.
If you’re wondering how you can get a hold of the professionals Bangladesh has cultivated to service those industries, look no further than our competitive global employment platform, which features country-specific pricing so you can be sure to get the best deal whether you’re hiring in Bangladesh or beyond! The Multiplier platform makes the process effortless, with contract generation possible in under five minutes (seriously, we’ve timed it).
Other nuances for businesses to note when hiring in Bangladesh include the construction of attractive compensation packages. It’s crucial to get this right as offering the right employee benefits enhances retention, job satisfaction, and facilitates the attraction of top-notch Bangladeshi talent.
Read more about benefits and compensation in Bangladesh here!
We’ve still only scratched the surface of reasons to hire in Bangladesh. Here are three takeaways you need to understand about the Bangladeshi workforce.
- Growing Workforce: Bangladesh has a burgeoning workforce, with the total labor force increasing to 73.69 million in 2023. This is a vast talent pool for businesses to tap into, especially in sectors that align with the country’s industry specialties such as textiles, shipbuilding, and information technology.
- Increased Female Participation: The participation of women in the Bangladeshi workforce has seen a significant rise over the past years, reaching 42.68% in 2022, up over 5% in five years. This points to the progressive social changes taking place in the country, providing businesses with a more diverse range of talent to consider for their teams.
- Labour Migration: Every year, more than 400,000 workers leave Bangladesh for overseas employment. This speaks volumes about the adaptability and resilience of the Bangladeshi workforce–but such dislocations may become a thing of the past thanks to platforms like Multiplier.
How does that sound? We know this is a lot of information to take into consideration. That’s why at Multiplier we pride ourselves on offering dedicated, 24/5 support tailored to specific countries–so you can sit back and relax in the knowledge that the professionals have things under control.
Now you’re speaking their language
Picture this scenario: you’ve hired and onboarded talent from Bangladesh, and now you’re wondering what makes them tick. Consider these tips for effective communication with your Bangladeshi colleagues, starting with the stuff that helps no matter where they’re based:
- Clear Communication: Clearly communicate job expectations, company culture, and goals to ensure alignment. Regular check-ins and feedback sessions can help keep everyone on the same page.
- Leverage Technology: Use technology to facilitate collaboration and communication. Tools like Slack, Microsoft Teams, or Trello can help manage projects effectively.
- Integration: Make efforts to integrate remote workers into the company culture. Virtual team-building activities or occasional in-person meetings (if possible) can foster a sense of belonging.
- Legal Compliance: Ensure all employment contracts and practices comply with Bangladeshi labor laws, even when hiring remotely. Luckily, with Multiplier, our easy-to-use platform ensures compliance is guaranteed, with automatic contract generation that dots the Is and crosses the Ts.
Now onto the Bangladesh-specific stuff. If there’s one thing that Bangladeshi people are passionate about, it’s cricket. The sport is the most popular in Bangladesh–no wonder, then, that Bangladesh is among the top ten cricketing nations globally. But the sports scene in Bangladesh doesn’t stop there. Indeed, the national game is ha-du-du, also known as kabaddi, an ancient activity popular across a number of South Asian countries.
If you’re looking for further topics of discussion, Bangladesh is rich in its heritage and traditions, influenced by a succession of religions including Hinduism, Buddhism, and Islam. The country boasts numerous cultural festivals throughout the year, including Pohela Boishakh (Bengali New Year), Durga Puja, Eid ul-Fitr and Eid ul-Adha. Bangladesh is also renowned for its literature, with the country producing many notable writers and poets, including Rabindranath Tagore, the first non-European Nobel laureate.
Speaking the truth
Of course, if you really want to impress your new hire, you could try picking up some Bengali terminology. For instance, “Salam-alaikum” is often used as a greeting, similar to “hello”. This phrase is Arabic in origin and is used by Muslims around the world; it means “peace be upon you”. On the other hand, when saying goodbye, Bangladeshis often use “Khoda Hafez“, which translates to “May God protect you”.
In a work setting, a few key phrases might come in handy; like “Apni kemon achhen?” which means “how are you?” Another good one to learn is “apni ki amake sahaĵyo korte parben?” which means “can you help me?” (Your cue to step in!). Finally, one to listen out for is “Ami bujhte parchi na“, which translates to “I do not understand”. Oops!
Lastly, let’s cover some tech-related terminologies. For example, “Email pathao” means “send an email”, and “Amake Slack-e message koro” is the equivalent of “message me on Slack”. Hopefully you find these phrases helpful when navigating through a digital workplace with Bangladeshi colleagues!
Did you know?
Now that we’ve got the serious business out of the way, let’s have a quick look at some Bangladesh fun facts. The region has been home to a succession of kingdoms and empires that fought for control of the Bengal region, from the Maurya to the Mughal.
When it comes to famous individuals, Bangladesh is the home country of Muhammad Yunus, a social entrepreneur, banker, economist, and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance.
Last, but certainly not least, we have the food. The national dish of Bangladesh is Hilsa, a type of fish curry. Bangladesh is also known for its wide variety of sweets, including Rasgulla, Sandesh, and Chomchom. Hope you’ve got a sweet tooth!
Hungry for more Bangladesh info?
We’ve got you covered! So far we’ve talked about the big picture, but our talent wiki page contains all the nitty gritty information you need to make your Bangladesh hiring plans an astronomical success. Click the link for details on statutory leave, public holidays, talent sourcing locations, and much, much more!
- Taxes: There is no employer contribution in Bangladesh. However, the employer must contribute 5% of the profit to the Workers Profit Participation Fund as Social Security Contribution.
- Employee benefits:
- Festive Bonus
- Maternity leave
- Health Insurance
Visa requirements: Employees from outside Bangladesh need an employment or work visa, which is issued by the Bangladesh Investment Development Authority (BIDA).
Make international employment possible with Multiplier
And that’s the lowdown on hiring in Bangladesh. Now you’ve heard the benefits, make your dreams a reality with Multiplier. We’re here to help businesses boost their productivity with exceptional global talent, whether from Bangladesh or anywhere else!
Our presence in over 100 countries worldwide showcases the breadth of expertise we possess. Multiplier is a one-stop solution for all your global hiring needs, so why not talk to our experts and book a demo today?