IMPACT OF HR PRACTICES IN INDIA BANKING SECTOR

Abstract

Human Resources (HR) are crucial to the success of any business, and one could even say they constitute the very basis of the corporation itself. Human Resource Management (HRM) is, as its name suggests, the administration of an organization's human resources in such a way that both employees and the business as a whole benefit. Human resource management (HRM) is essential to an banking sector success because of the positive effects it has on employees' engagement, productivity, and job satisfaction as well as the company's ability to attract & to retain the best talent. Focusing on how human resource management (HRM) initiatives affect worker satisfaction is central to this review paper's mission. The analysis demonstrated that HR procedures significantly affect the success rate of employees. Human resources processes must be implemented successfully. This paper provided an example of a banking operation that relies heavily on the efforts of its customers. The quality of their facilities is determined by the individuals who use them, and those people are their only customers. The purpose of this literature review was to explore the HRM practices of large Indian banks. The literature research was conducted to examine issues with workforce selection and recruitment, training & development, remuneration & pay, role appraisal approaches, performance evaluation employee engagement, and job satisfaction measures. Since their nationalisation, banks have expanded from serving just the manufacturing sector's financing needs to becoming a dynamic tool for social transformation, albeit additional research is needed to support this hypothesis. The value of human capital is well known these days & it’s a reliable strategy for maintaining a competitive edge over the long term. There are many factors that contribute to an organization's success, but the employee is the single most important factor.