Dr. Hitendra Bargal Professor, Patel College of Science and Technology, Indore (MP) India email@example.com Dr. Manasranjan Dashmishra Reader, Shri Vaishnav Institute of Management, Indore (MP) India firstname.lastname@example.org Bhanu Saxena Senior Lecturer, Patel College of Management, Indore (MP) India email@example.com Santosh Kumar Yadav Lecturer, Patel College of Management, Indore (MP) India firstname.lastname@example.org Manish Phalke Lecturer, Patel College of Management, Indore (MP) India email@example.com Nitish Ghune Student, School of Future Studies and Planning, D.A. University, Indore (MP) India firstname.lastname@example.org Abstract This study highlights the association of banking sector which is suppose to be representative among all nationalised, private sector banks and foreign banks operating in India. This belief based on the fact that still 55% of total money flows in India is routed through State Bank of India and its associates in economy. India after 1991 gradually opening up of economy is now part of global economy. Happenings and dishappenings in global scenario have profound impact on mainstream organization in general and banks in particular. Liberalisation has created some ripples in this organisation also, let us examine the experiences of employees in State Bank of India to visualize liberalization, privatization and globalization impact is there or not. Key Words: Banking Sector, Employees’ Experience, Liberalisation.
The opening of new markets, deregulations and developments in information technology over the past few decades has led to heightened competition and greater struggle for survival among organizations, forcing them to take a fresh look at the traditional ways of conducting business (Venkatraman and Henderson, 1998). In order to remain competitive in this turbulent scenario, they need to cut costs and enhance productivity, by initiating spate of
organizational change efforts. These change efforts by organizations in various forms have varied impressions on the mind sets of employees of these organizations, can be called as experiences.
2 Objectives of the study
It is abundantly clear over the last eighteen years of opening up of Indian economy have resulted in turbulence in the environment they are operating and employees being part of these organizations experiences the changes of these turbulences in one form over the other. Changes positive or negative has profound impact on employees, organizations do little or sometimes beyond there control to explain phenomenon. Phenomenon of attributing changes and its impact can be best studied by knowing their experiences. Thus Objectives of study can be stated as follows. • To Study Experiences of Bank Employee in the Emerging India • To know perceptions of employees in the spate of changes occurring.
3 Research Question
• What are the changes which have occurred in banks since last one and half decade and how it had impacted employees?
4 Rationale of the Study
Liberalization, Privatization and Globalization Phenomena started since 1991 onwards in a way is paradigm shift from having socialistic economy to drifting towards capitalist economy. Certainly this has impact on almost all sectors in general, Banking being spinal cord of economic system, experiences of employees are the best barometer to gauge such shift happening. State Bank of India has Century old history in Indian Economy, was holding the responsibility of central bank of country until 1934, when responsibility was transferred to Reserve Bank of India. This organization can be considered as central system in which spate of changes occurred viz. no recruitment, average age of employees shooting up later on Voluntary Retirement Scheme initiated which claims to be the best in world in known corporate history. After some time initiation of Massive Recruitment process started that is...