HUMAN RESOURSE MANAGEMENT
TOPIC: ANALYSIS OF HR PRACTICES IN BANKING SECTOR
Submitted to: Submitted by: Dr. Manisha Seth
Romal Talwar(JIML-10-116) Ravi Bajpai (JIML-10-112) Ravi Garg(JIML-10-113) Saud Hashmi(JIML-10-123) Utkarsh Pratap Singh(JIML-10-174) Chitanya Mohan(JIML-10-175)
This project has helped us to gain a deeper insight into the subject Human resource management. The project has helped us in analyzing the Human resource practices being followed in banking sector and its impact on the productivity and efficiency of employees, as well as on the bank. Analyzing the details provided by employees we got a sight how various practices like reward and punishment affects the performance of employees.
This project would have not been possible without the guidance and support of Dr. Manisha Seth. We would like to thank her for her support. And we would like to thank each and every other member who has helped us or has contributed in this project.
HR practices in Banking Sector:
In recent years, there had been an increasing belief that the development of human resources is no longer a luxury to be achieved when other objectives have been met, but an essential part of the management of strategic change. Hence, the development of human resources was worthy of a higher priority. This was reflected in the development of manpower planning and a greater emphasis on management development and training in a systematic and integrated manner. The Bank looked to become more pro-active in this area rather than merely respond to problems. However, much depended on a settled business strategy for the Bank and each division, so as to identify staffing requirements.
These changes were reflected in the training function and management developnient programmes. There was a trend in the former towards programmes stressing social skills and customer service training and sales and marketing training, all designed to educate staff in the new sales culture. Previously, the training emphasis had been on technical training and supervisory skills for clerical appointed and junior management staff; the training also reflected a trend in banking to train for greater productivity rather than preparation for future jobs.
Why HR practices in Banks:
The primary apprehension of the bank should be to bring in proper integration of human resource management strategies with the business strategies. It should faster cohesive team work and create commitment to improve the efficiency of its human capital. More than operational skills today are banking call for these ‘soft skills’ to attend the needs and requirement of the customers at the counter. Banks have to understand that the capital and technology-considered to be the most important pillars of banking are replicable, but not human capital, which needs to be viewed as a valuable resource for the achievement of competitive advantage. The long-term vision for India’s banking system is to transform itself from being a domestic one to the global level may sound far-fetched at present. To take up this industry to the heights of international excellence requires combination of new technologies, better processes of credit and risk appraisal, treasury management, product diversification, internal control, external regulations and human resources at the most. The main challenges faced by Banks in our country are the role played by...