PRESENTATION ON HR PRACTICESWITH RESPEST TO: SUBMITTED BY:-
LAKSHMI.YADHAV ANURADHA.MUKKU HEMANGI.BHISE REETI.SINGH
INTRODUCTION HRM is that it is the process of managing people
in organizations in a structured and thorough manner. Human
resource management in banking and insurance concentrates on
building employee capabilities. Employee capabilities serve as the
trigger and create growth opportunities for the organization.
Service sectors like banks and insurance are entirely dependent on
the knowledge, expertise, skills, attitudes and quality of human
resources for growth and success. Hence effective management of
human resources is extremely critical in banks and insurance
companies.
DEFINITION Wendell French describes humanresources management
as the philosophy,policies, procedures, and practices related tothe
management of people within theorganization.
HR PRACTICES Human Resource Planning Organizational and job
design Staffing Training and Development Performance appraisal and
Review Compensation and Reward Maintaining Effective Employer-
Employee Relationship Healthy & Management Employee
Participation Organization Improvement
HUMAN RESOURCE MANAGEMENT IN BANKS HRM IN CO-OPERATIVE BANKS:-
It is said that the HR policies of cooperative banks are totally
dominated by the Registrar of Cooperatives. This is, perhaps, one
reason why the cooperatives are unable to improve themselves. HRM
IN REGIONAL RURAL BANKS (RRBS):- As regards RRBs, most of them
adopt the HR policies of sponsor banks, which are not appropriate
for their special nature. HRM IN PUBLIC SECTOR BANKS:- In the
recent times, the contours of HR function in public sector banks
are slowly but definitely changing- since 70s- Public Sector Banks
(PSBs) have adopted HRM practices similar to that of Government
departments. Herein HRM did not have a direct role in business
development but was more concerned with centralized recruitment to
staff & providing them across the country.
CONT. HRM IN PRIVATE BANKS & FOREIGN BANKS The HR function
as practiced by private & foreign banks is effectively involved
in the identification of specific skills that each job warrants
& recruiting suitable staff by every way possible. HRM IN
PUBLIC SECTOR UNIT BANKS (PSU BANKS) In the case4 of PSU Banks the
recruitment process is annual & large scale. People are
recruited at the lowest grade & promoted I due course. This
makes the career path of each employee the responsibility of the
organization. This also underlies a belief that anyone can occupy
any desk.
BANK OF BARODA Bank of Baroda is the highest profit-making
public sector undertaking (PSU) bank in India and the second
largest PSU bank in terms of number of total business in India. The
Maharaja of Baroda, H. H. Sir Sayajirao Gaekwad III founded the
bank on 20 July 1908. It was nationalized on 19 July 1969, by GOI.
4168 branches in India 2000 ATMs. A headquarter is in Vadodara A
corporate headquarter is in Bandra-Kurla complex Mumbai.
HR OBJECTIVESTo initiate & institutionalizeTo undertake
organizational renewalTo create performance-driven cultureTo create
business leadersTo build sales and service cultureTo create
learning organization
HR PRACTICES OF BOBRecruitment and SelectionTraining and
DevelopmentPerformance Appraisal Employee Involvement and Job
SecurityEmployee relations:
HDFC STANDARD LIFE INSURANCE HDFC Life (HDFC Standard Life
Insurance Company) is an Indian private life insurance company. It
is a joint venture between Housing Development Finance Corporation
Ltd (HDFC) and Standard Life provider of financial services in the
UK. It was established after private companies were allowed to
enter the insurance industry in the year 2000. HDFC is 33 year old
while Standard life is 185 year of experience of insurance
industry.
OBJECTIVES Managing people to succeed in todays highly
competitive global environment is important. HDFC Standard Life is
ethical and honest in the way it runs its business.
HR PRACTICESRecruitmentSelectionMotivationTraining and
DevelopmentRe-Hiring policyGOAL(Go online and Learn)SPARSHMission
in GeniusFun Time
SELECTION PROCESS Aptitude Test IRDA Exam Face to face
interview Medical Examination Background Offer Letter
Job Promotion Achieving Targets Holiday Tour Gift Voucher Feed
back
TRAINING AND DEVELOPMENT Conducting Induction program regarding
the Vision and Mission of financial Institution Basic level
orientation programmes Talent identification and grooming
programmes. Provide Training on insurance products
HDFC Life has a policy on re-hiring candidates who have
previously worked with HDFC Life in any role or Department. As per
the policy, the concerned candidate should have a minimum cooling
period of six months from his previous stint with HDFC Life before
being re-hired.
GOAL (Go online and Learn) Access to GOAL is provided also to
prospective employees before joining the organization to make them
feel integrated. Also, a critical piece of the entire welcoming
process is a formal employee feedback process that happens once in
six months for all the new joinees.
SPARSH To encourage open communication,Sparsh is an employee
communication program at HDFC Life Insurance. It is a town hall
activity conducted annually companywide in the months of November
and December.
MISSION IN GENIUS In 2006, HDFC Life initiated a self-learning
tool for its employees, Mission in Genius. It is acknowledge
enhancement initiative that engages employees through continuously
learning and upgrades their knowledge on the life insurance
industry
FUN TIME As a part of their policy of celebrating good times,
at the beginning of every financial year, the fun club prepares a
theme calendar. The theme of the month depends on the
Festival/occasion falling in the month. For example, in August
2011, the theme was Express Gratitude.
CONCLUSION BANK OF BARODA an International bank of India. As
the tag line of the bank suggests it is the bank which has stepped
in the global market and has left its foot prints everywhere. Bank
of Baroda is an organization which had believed in the saving that
every one has to change with the time. BOB has always provided the
good services and hospitality to its customers the all branched
have been applied with core banking services. The employees involve
themselves in work and are ready to share responsibilities in the
HDFC LIFE. Seniors guide their juniors and prepare them for the
future responsibilities /roles they are likely to take them up.
Officers in the HDFC LIFE believe that employee behavior can be
changed and people can be developed at any stage of their
life.
SUGGESTIONS BOB needs to increase its number of ATMs in the
country. Especially in metropolitan cities. This is because today
people dont like standing in queues for withdrawing money. Bank of
Baroda did very well when Rahul Dravid was endorsed as its brand
ambassadors. Today BOB has no ambassadors. Therefore it should
endorse someone as their icon. The personnel policies regarding
placement, promotion, training and development have to be
implemented in a flexible manner. The management of HDFC SL should
predict the future challenges and plan the strategy to meet them.
This helps the clerical level employees to know their role and
responsibility to meet the future challenges. After training
programme the feedback must be given to the employee at the
earliest possible time, so that the employee can grow in his
strengths, get over his weaknesses, utilize the opportunities and
minimize the threats that undermine their growth.