A Comparative Study on Digital Divide Among Generational Cohorts In Public and Private Sector Banks

Abstract

Banks are organisations using latest technologies for monetary transactions. There is a multigenerational workforce present in banks. And it is imperative that these generations work cohesively using all the available technological resources at their disposal so as to remain competitive and efficient such that there is a seamless exchange of information and effective knowledge sharing so that employees can optimize business value, enhance customer service as well as generate a satisfying job experience for themselves. Across industrial spectrum, it has been observed that older generations lag behind technologically as compared to their younger counterparts. And as the recruitment of a multigenerational workforce is prevalent among banks, a study addressing the digital divide, if any, among the generational workforce will assist banks in enhancing employee performance. Banks are the workplace constituting multigenerational workforce belonging to varied demographics. Day in and day out these employees happen to deal with financial matters of individuals, organisations and institutions and are required to work together in a symbiotic system. Being pioneer in introducing mechanisms and innovations in latest technology, banks today are one of the most technologically laced and advanced organisations that call for right human talents with sound technological knowhow and aptitude that can be effectively invested in the growth of banking organisational machinery. Any neglect in identifying the lapse or void especially in the technological aspect in the banks would result in massive loss in business opportunities and create a mediocre workforce thereby disturbing their job satisfaction, leading to conflicting situations and building up unnecessary stress levels as far as using technology to its logical conclusion is concerned . There are chances of bank employees belonging to different strata of generations possessing varied levels of technological abilities; it becomes all the more necessary to address the core issue of