HUMAN RESOURCES MANAGEMENT IN PRIVATE SECTOR BANK

PRESENTED BY
ANIL KUMAR MBA 2nd SEM

CONSIDER ALL HUMAN ABILITIES TO BE EITHER INNATE OR ACQUIRED. EVERY PERSON IS BORN WITH A PARTICULAR SET OF GENES WHICH DETERMINES HIS INNATE ABILITY.ATTRIBUTES OF ACQUIRED POPULATION QUALITY, WHICH ARE VALUABLE AND CAN BE AUGMENTED BY APPROPRIATE INVESTMENT, WILL BE TREATED AS HUMAN CAPITAL THEODORE SCHULTZ

IMPROVING THE WELFARE OF THE PEOPLE DID NOT DEPEND ON LAND EQUIPMENT AND ENERGY BUT RATHER ON KNOWLEDGE THEODORE SCHULTZ

CONTENT
Meaning and definition of HRM Objective & function of HRM Meaning of HRM in Banks Need For HRM and Its Management in banks The Changing Banking Environment and Role of HRM Human Resource Risk

Meaning and definition of HRM

HRM leads us to two different definition
The first definition of HRM is that it is the process of managing people in organizations in a structured and thorough manner The second definition of HRM encompasses the management of people in organizations from a macro perspective

Objective & function of HRM

o OBJECTIVES
To help the organization reach its goals. To ensure effective utilization and maximum development of human resources. To ensure reconciliation of individual goals with those of the organization. To achieve and maintain high morale among employees. To increase to the fullest the employee's job satisfaction and self-actualization. To develop overall personality of each employee in its multidimensional aspect.

o FUNCTIONS
Human resource or manpower planning. Recruitment, selection and placement of personnel Training and development of employees. Appraisal of performance of employees. Taking corrective steps such as transfer from one job to another. Remuneration of employees. Social security and welfare of employees. Setting general and specific management policy for organizational relationship. Collective bargaining, contract negotiation and grievance handling. Staffing the organization.

Meaning of HRM in Banks

In the context of banking, human resource is of greater importance. The deployment of human resource through proper and efficient selection, training and development, is called Human Resource Management. The success of any bank largely depends on efficient human resource management, apart from operations, marketing and sales, the HR department manages all the efficient people working in operations and marketing divisions in any organization.

Need For HRM and Its Management in banks

There is a qualitative change in the banking paradigm on account of changes in the industry due to the entry of new private sector Banks. Therefore, it has become a necessity to recruit, train and deploy people at all level efficiently, for better performance and success. This is the basic function of HRD, which includes the concept of HRM.

 A view of the changes in the political scene in the recent past, seeping changes is expected to take place in the banking industry. It is expected that only a few banks will remain after a series of amalgamations and mergers, not only in the Indian banking industry, but also at the international level.
Emergence of new private sector banks, disintermediation and competition and selfregulation in monitoring banking has necessitated efficient Human Resources Management in banks.

The Changing Banking Environment and Role of HRM

Owing to the changing banking environment HR department should call for appropriate response in equipping people who have to perform in the new environment. People should be prepared to 'accept changes. The main function of HRM is to build up capabilities in people working in banks and intensify their sense of belonging to the organization. To improve their performance and increase the bank's productivity HR must incorporate challenges in routine work.

HRM RISK
The banking HR risk is another important aspect to be managed by the HR and Planning department. In certain situations the departure of an employee with specialized skills and knowledge due to resignation, retirement or removal may bring certain systems to a halt and may even create chaos. This is called HR risk.