human resource development practices in select public and private sector banks a comparative study

Abstract

Organizations across the world have recognized the fact that people are the most important assets. Human assets are part of the intangible assets and the value of intangible assets has been exceeding tangible assets. In the present day highly competitive environment, the survival and growth of any organization completely depends on optimum utilization of its human resources. Organization that would like to be dynamic and growth oriented should focus on the development of human resources. The Human Resource Development (HRD) philosophy has gained increased attention in the last three decades. Introduced by Leonard Nadler in 1969, the concept of HRD has gradually emerged as an interdisciplinary and integrated approach towards the development of human resources. In its broader sense, human resource development is process of bringing an organization and people together so that the goals of each other are met. The scenario of human resource development practices in India is characterized by lack of innovation and effective implementation. newlineBanking industry has been the backbone of Indian economy. The emergence of organized banking sector has been offering wide-range of services to the customers. Modern banking in India mainly originated in the last decade of the 18th century. The journey of Indian banking industry has passed many waves of economic crisis and it is this sector which prevented the country from the negative impact of world economic crisis. Human Resource Development assumes a very role in banking industry, where the activities are all about relationships , provision of better services and maintaining long-lasting relationship with customers. Banks have to continuously strive to give new thrust and direction to equip its employees to meet the emerging challenges with an effective HRD strategy. In the Indian banking sector sweeping changes in the environment and the increasing public scrutiny have placed a quality on the human resources.