BEST HR PRACTICES IN INDIAN BANKS

BEST HR PRACTICES IN INDIAN BANKS
In the booming Indian economy all the industries are doing well in the market and Indian banks are also performing well comparatively. In the booming economy and the continuing expansion most of the banks facing challenges to perform well and it clearly brought out by the fact that, contrary to public perception, it is not just the new private sector banks that are doing well. There are few public sector banks are also doing well and got the place in top 10 best performing Indian banks. And it’s worth mentioning that these public sector banks have performed so admirably in spite of the fact that they operate with many handicaps, such as strong unions and the inability to offer market salaries and incentives and burdened with huge workforce. The secret of success of any company simply depends on how they treat employees and keep them satisfied. For that they have design their human resource process like recruitment, selection, training and development, performance appraisal and other based on employee perspective in order to benefit them.
In India the banking industry becoming more competitive than ever, private and public sector banking are competing each other to perform well. The executives of the bank are now in the position to modify their traditional human resources practice in to innovative human resources practices in order to meet the challenges from other competitive banks.
This paper tries to bring out those innovative and best human resource practices developed and found successful that made them more competitive in the present competitive banking environment in the various human resource areas where they want to gain competitive advantage over the rival banks in order to attract and retain the talents and to differentiate their human resources practice and other services than the competitive banks.