The purpose of this paper is two-fold. First, how do specific HRM practices such as faculty job security, compensation and job autonomy relate with commitment behaviour which, in turn, affects quality education? Second, how does faculty commitment behaviour play a mediating role in the links between those specific HRM practices and quality education? To answer these questions, a theoretical framework using the sidebet theory as its basis was established. Using measurement scales created to assess different aspects of job security, compensation, job autonomy, commitment behaviour of the faculty members and quality education, a survey instrument was developed to test various hypotheses implied by the side-bet theory. Data (n=516) were collected from 20 business schools in private universities in Bangladesh and the analysis of this data-set helps answer questions about the relationships between afore-mentioned HR constructs and quality education. The findings suggest that the faculty commitment behaviour significantly mediates between quality education and faculty job security, compensation and job autonomy in the private universities in Bangladesh.