Training in Banking Sector
Abstract
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
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
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