DIGITALIZATION IMPACT OF HUMAN RESOURCE MANAGEMENT IN THE BANKING INDUSTRY

  What is Training & Development? Training and development refers to educational activities within a company created to enhance the knowledge and skills of employees while providing information and instruction on how to better perform specific tasks. Training is a short-term reactive process meant for operatives and process while development is designed continuous pro-active process meant for executives. In training employees' aim is to develop additional skills and in development, it is to develop a total personality. In training, the initiative is taken by the management with the objective of meeting the present need o fan employee. In development, initiative is taken by the individual with the objective to meet the future need o fan employee. What is the purpose of training and development in organizations? The reason why training is absolutely essential for any business is - Lowers Attrition Training is one of the best ways to value your employees. It shows them that you ar

What is Talent Management? Talent management is defined as the methodically organized, strategic process of getting the right talent  onboard  and helping them grow to their optimal capabilities keeping organizational objectives in mind.   The process thus involves identifying talent gaps and vacant positions, sourcing for and  onboarding  the suitable candidates, growing them within the system and developing needed skills, training for expertise with a future-focus and effectively engaging, retaining and motivating them to achieve long-term business goals. The definition brings to light the overarching nature of talent management – how it permeates all aspects pertaining to the human resources at work while ensuring that the organization attains its objectives. It is thus the process of getting the right people  onboard  and enabling them to enable the business at large. Under the umbrella of talent management, there are a string of elements and sub-processes that need to work in unis

  A  bank  is a financial institution licensed to receive deposits and make loans. Two of the most common types of banks are commercial/retail and investment banks.  Depending on type, a bank may also provide various financial services ranging from providing safe deposit boxes and currency exchange to retirement and wealth management. Human Resource Management  is important for banks because banking is a service industry. Management of people and management of risk are two key challenges facing banks. How you manage the people and how you manage the risks determines your success in the banking business                     Compensation  planning and remuneration There are various rules regarding compensation and other benefits. It is the job of the HR department to look into remuneration and compensation planning. Motivation, welfare, health and safety  :- Motivation becomes important to sustain the number of employees in the company. It is the job of the HR department to look i