The present day banking is in a metamorphosed state with myriad businesses being intertwined and competition creeping into almost all genres of banking. In this highly volatile milieu the role of Human resources Management has gained relevance as organizations across the globe have attributed success to their well oriented team. The growth and development of an institution depends wholly on the quality of its workforce, their perseverance and aptitude for improvement.
Every Individual is unique and their talent enduring. To attune the diaspora of employees towards the corporate goals and aspirations posit a challenging and exigent task for the Human Resources Management. The entire gamut of Human Resource Management has opened up new vistas for creative re-conceptualization. When a coin is exchanged between two individuals, they will still be left with one coin each. But when they exchange ideas, each one will then be left with something more than what they had earlier. Dealing with the human mind and psyche is intriguing as well as demanding. This has led to the genesis of new dimensions for "People Management".
Human Potential cannot be fathomed. It is the latent force in us waiting to be unleashed. One of the most daunting tasks for the Human Resource Management is to tap the potential of the employees at its nascent stage and provide opportunities to nurture and blossom it to fruition. By creating an environment which foments team work and synergy, the creative energies can be effectively channalised towards corporate aspirations. Ten plus ten may be twenty if we apply the laws of Mathematics. But with regards to human resources, ten plus ten can also be infinite depending on the level of synergy which they have achieved. When there is perfect harmony between the Organizational Culture, its objectives and the Human Resources, it leads to Organizational Learning. This revolutionary theory was first propounded by the management guru Peter M Senge through his book "The fifth Discipline". Organizational Learning is a symbiotic state wherein the employees learn through the organization and vice versa.
Value creation through people has become one of the critical success factors in every organization. It is not enough just to have a clear vision and reliance on sincerity but it is more important to possess the art of expression. By creating a framework of vision, values and organizational ethics, we provide an environment conducive for the employees to contribute towards organizational growth.
HR function should be a partner with business. Blending the manpower to the emerging business needs is critical. The staff should be equipped with market sophistication and customer expectations. We need to create an environment that values innovative ways of doing business. Innovation is not accidental nor about a single insight or idea but an integrated system of activities resulting in a business model that is designed to create and capture new value.
Development of human resources for the realization of the organizational objectives by propitiating employee participation in all spheres of organization building is one of the major initiatives of Human Resources Management. An effective reward system, talent management initiative, performance management system and a well defined career development plan goes a long in kindling the aspirations of the employees and motivating them to gravitate towards individual brilliance.
The HR climate prevalent in the organization should exude the vibes of team work and cohesivity which will greatly help in orienting the staff towards collective excellence. .
In this perpetually changing banking scenario it has become imperative to equip the employees with the necessary skills to deal with the challenges head on. The Human Resources Management assumes greater significance here by giving focused and need based training to the employees and helping them to acquire the necessary skills and competencies to move ahead with gusto. Without an effective and coherent training policy no organization / business can hope to make the best use of its most priced resources.
We live in an interconnected world and the dream of a "Global Village" has become more or less a reality. With a click of the mouse button on the laptop/ PC, the world rushes out to meet us with arms outstretched. Information is available in abundance and the onus is on us to sift through the pile and garner what is beneficial to us. Technology has made tangible inroads into each and every aspect of our lives and has become an inevitable constituent in our day to day affairs. At this juncture the role of Human Resource Management becomes even more pertinent in utilizing the technology to the benefit of the staff and the Organization. Business Intelligence through effective Data Warehousing and Data Mining and the automation of the Human Resource Processes through Enterprise Resource Planning (ERP) , which is a comprehensive platform that brings many HR functions under one umbrella , helps us to move to a near paperless environment.
The financial industry, with its ubiquitous lopsidedness, has time and again posed major challenges for Human Resource Management. The dwindling economy, the catastrophic recession and the impending work force dynamics have thrown open major challenges for the HR in people management. In such devastating and portentous weather, the corporate HR has got a major role to play by developing certain core HR competencies in the employees, which helps them to sail through troubled waters.
Adaptability - Adapts to - changes in the immediate work environment, people, processes etc
Attitude - the existence of a positive attitude, anxious to find solutions and an undying spirit to excel.
People management and leadership - the drive to motivate others (whether subordinates, colleagues or seniors) towards the achievement of shared goals and objectives through personal role-modeling and a collaborative approach.
Business knowledge - thorough understanding of the business processes and financial issues that confront the industry, streamlining the HR processes to add value to business.
Professional and ethical behavior: possession of the professional skills and technical capabilities and the ability to make informed decisions to propitiate individual as well as personal excellence.
Result Oriented: the ability to deliver goals that will add value to the organization and help it to gravitate closer towards the corporate vision / mission.
Continuing learning: an undying thirst for knowledge and the ability to be in the continuous loop of learning for personal excellence.
Creative thinking: the ability to break the shackles of constrained thinking and the deployment of intuitive/creative thinking in order to generate innovative solutions.
'Customer' focus: concern for the perceptions of personnel as well as the customers and to solicit and act upon 'customer' feedback as one of the foundations for improving the performance.
Strategic thinking: the ability to think strategically and create an achievable vision for the future, to nurture competitive intelligence and understand what is best for the future of the organization, to challenge the status quo.
Communication, persuasion and interpersonal skills: the ability to effectively communicate with others in a comprehensible way, both persuasively and cogently, exhibit good listening skills and understanding skills, plus show sensitivity towards emotional tangents of corporate life.
The whole array of future strategic Human Resources Management would revolve around the fact that the people in the organization should feel wanted and be sought after. It is only then that they will inculcate a sense of belongingness and sense of pride which propels them to give out their best towards organizational prosperity. It should be the endeavor of each HR professional to instill this concern among our people and create avenues and opportunities to encourage the blossoming of their individuality and also mould them through our repeated and focused HR Interventions to act as future mentors and motivators for the next generation to follow.
The greatest strategic assets of an organization are truly its loyal and highly skilled employees who bring passion and innovation to their jobs and take the organization to the dizzying heights of glory.
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