HRD Practices and Initiatives for Managing Talent in Public Sector Banks (PSBs)

Abstract

In public sector banks, the HR department is more administrative in nature and less developmental and professional in its approach. As the paradigm is shifting the PSBs are undergoing a transition phase and struggling to cope up with the challenges of hiring, retaining, capacity building, motivation and developing leadership in pipeline. Human resource management department requires a systematic approach for acquisition, development and retention of human resources in order to achieve organisational objectives. A proactive human resource development department is the essence for the growth of the organisation and for the development of its employees. In a world that is moving towards a knowledge-based economy, HR systems are becoming an important source of competitive advantage in both manufacturing and service industries, thus demanding the adoption of correct practices in areas such as human resource (HR) selection, job design, performance appraisal, compensation, training and development and retaining and motivating them to deliver the result beyond their capability.