Training in Banking Sector

Topics: Human resource management, Chi-square distribution, Chi-square test Pages: 12 (3299 words) Published: February 19, 2013
The purpose of this study was to identify the training needs among employees of Public sector bank. In the current dynamic business environment training has become indispensable. The biggest challenge of human resource managers is to train the employees to produce desired results. In the cyclical process of training, training needs analysis is the first step which analyses the areas where training is essential. Total 100 respondents responded to the pre-tested questionnaire, for which Cronbach’s Alpha was calculated to confirm its reliability, which resulted in the score of 0.860. The major findings and evaluation have been done by Statistical Package for Social Sciences (SPSS).The findings can be used to design future competency based training programs. Keywords: Performance, Skills, Training, Training needs.

I. Introduction
The banking sector in the recent years has been undergoing intense structural and organizational changes, globally. The trend towards globalization of financial markets and services and deregulation of domestic banking systems has been the driving forces behind the drastic change in this sector. The Information technology era has enabled development of new financial instruments, decentralization of work and decision making responsibilities. The extensive competition, greater demand for providing better product and services, dynamic business environment prevailing in the commercial banking sector has increased more demand from employees in order to meet the requirements the above all has posed critical challenges for employees and HR managers in particular. Thus, training is no longer considered a casual phenomenon or holiday for a selected few; instead it ought to be a process of human resource development for fulfillment of defined objectives (Khandelwal, 1978). And to achieve the desired results transformation in the context and mechanism of training programs becomes indispensable (Lynton and Pareek, 1990).“Training” refers to a systematic approach to learning and development to improve individual, team, and organizational effective-ness (Goldstein & Ford 2002). Denby (2010) explains that training helps to expand the scope of available skills within the workforce and improve expertise and adds enhancing the capabilities of the team supports retention. Every organization strives to achieve their objectives, and in banking sector the major goals include maximizing funds and improve the level of services. And the most desirable goal is to improve employee’ performance which results in overall organizational performance. In current scenario, to achieve sustainable competitive advantage, sustaining customers by delivering high quality service becomes essential. To achieve all the above mentioned objectives training the bank employees becomes vital. Every training program starts with an analysis of training needs. Identifying training needs of employees is considered to be an essential requirement to design an effective training program and it also contributes to the training strategy of an organization. II. Purpose And Importance Of Identifying Training Needs

In the stages of the systematic training cycle, Identifying training needs and its analysis is the important first stage and following stages of the cycle are training design, training delivery and training evaluation respectively." Identifying training needs must be carefully planned, conducted and have clear outcomes to ensure that training interventions are implemented effectively and that they lead to meaningful changes in service delivery"(Gould D, Kelly D, White I, 2010). Training can be considered successful only it is implemented to match and complement the business needs and objectives. The assessment begins with a "needs" which can be identified in several ways but is generally described as a gap between what is currently in place and what is needed, now and in the future. ).“The rationale for developing a training...
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