Presentation -private Vs Public Banks :hr Policy
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HR Practices in Public and Private Sector Banks Presented by: Group
Introduction Global competition forced organizations to build global capabilities.
Banking sector is the most effective instrument for economic development, so developing Human Resources for this sector is essential to achieve the national development.
Contd … Banking activities are highly regulated both by the social value systems and monetary considerations. Due to globalisation, public banks have to equip themselves along with private banks to meet the challenges of competition within the country as well as outside. They will have to build an employee infrastructure for hiring, maintaining, training and developing that takes a global perspective.
Private Bank
Private banks are the banks that are not incorporated. These are owned by either an individual or a general partner (with limited partners). The creditors can look to both the “entirety of the4 bank’s assets” as well as the entirety of the proprietor’s assets.
Public Bank
A public Bank is that which there are numerous partners or shareholders, and they elect from their own body a certain number of people, who are interested with its management. They are classified as national and state banks.
Public Vs Private Banks Capital Technology Government policy Average age Business strategy Opportunities
Public sector
Private sector
( Unioun bank of India ) ( YES Bank )
The Union Bank of India has more than 2,000 branches ensured complete customer delight, living up to its image of, “Good people to bank with”.
YES BANK, India’s new age private sector Bank, is an outcome of the professional competent top management team, to establish a high quality, customer centric, service driven, private Indian Bank Vision ‘Responsible Banking’
Public sector Private Sector ( Unioun bank of india ) ( Yes bank )
A logical extension of the Vision Statement is the Mission of the Bank, which is to gain market recognition in the chosen areas
Vision is to build an organisation where all YES BANK’ers truly partner to direct, manage and accelerate the development of YES BANK as the Young and Dynamic Bank of“Emerging India
Recruitment and Selection
The recruitment is done on the basis of forecasting by HR department. Internal recruitment & external recruitment The promotional exams are taken for all levels in management and subordinates.
HR department gets news on current and future requirements from each departmental head.
Contd …
One more feature is that the promotion is also given on the basis of seniority
Both internal and external sources are taken in account for the purpose. In external sources they go to consultancy, institutions, advertisement , reference, and web based hiring to source talent Promotion is given on the basis of
Training and Development
has one of the best training systems in India. The training system of Union Bank has been awarded the Golden Peacock National Training Award . exposed periodically to update skills and awareness in leading institutions in the country.
If the trainees need training in a specific technical skill, which the bank cannot provide economically, it sends the employee to institutes . training programme may be conducted at
Remuneration
The wages & salary are decided by banking authority generally Rank within organization and facilities provided accordingly Scale in management level
Comparative remuneration method to decide the salary Calculation of worth of a job
Performance Appraisal a fundamental process appraisal results are used to identify the poor performers appraisee and manager ‘s mutual awareness, understanding and relationship resolving confusions and misunderstandings
process of aligning individual and organizational goals. Main objective was to encourage the employees to think innovatively.
Contd …
delegation, additional responsibilities, employee growth and development counselling and feedback
The bank also aim at building a culture to inculcate professional entrepreneurship to make themselves and the shareholders prosperous
Conclusion Private banks have better role clarity as compared to public sector banks which is clearly visible on the basis of their level of performance. Private Banks have the high extent of Induction Training imparted. Private Banks have the highest extent of Performance Appraisal and Performance Counseling practiced.
Contd …
The Public sector banks possess more transparent and standardized promotion policy. Public Banks have a better Quality of Work Life as compared to Private Banks .
Introduction Global competition forced organizations to build global capabilities.
Banking sector is the most effective instrument for economic development, so developing Human Resources for this sector is essential to achieve the national development.
Contd … Banking activities are highly regulated both by the social value systems and monetary considerations. Due to globalisation, public banks have to equip themselves along with private banks to meet the challenges of competition within the country as well as outside. They will have to build an employee infrastructure for hiring, maintaining, training and developing that takes a global perspective.
Private Bank
Private banks are the banks that are not incorporated. These are owned by either an individual or a general partner (with limited partners). The creditors can look to both the “entirety of the4 bank’s assets” as well as the entirety of the proprietor’s assets.
Public Bank
A public Bank is that which there are numerous partners or shareholders, and they elect from their own body a certain number of people, who are interested with its management. They are classified as national and state banks.
Public Vs Private Banks Capital Technology Government policy Average age Business strategy Opportunities
Public sector
Private sector
( Unioun bank of India ) ( YES Bank )
The Union Bank of India has more than 2,000 branches ensured complete customer delight, living up to its image of, “Good people to bank with”.
YES BANK, India’s new age private sector Bank, is an outcome of the professional competent top management team, to establish a high quality, customer centric, service driven, private Indian Bank Vision ‘Responsible Banking’
Public sector Private Sector ( Unioun bank of india ) ( Yes bank )
A logical extension of the Vision Statement is the Mission of the Bank, which is to gain market recognition in the chosen areas
Vision is to build an organisation where all YES BANK’ers truly partner to direct, manage and accelerate the development of YES BANK as the Young and Dynamic Bank of“Emerging India
Recruitment and Selection
The recruitment is done on the basis of forecasting by HR department. Internal recruitment & external recruitment The promotional exams are taken for all levels in management and subordinates.
HR department gets news on current and future requirements from each departmental head.
Contd …
One more feature is that the promotion is also given on the basis of seniority
Both internal and external sources are taken in account for the purpose. In external sources they go to consultancy, institutions, advertisement , reference, and web based hiring to source talent Promotion is given on the basis of
Training and Development
has one of the best training systems in India. The training system of Union Bank has been awarded the Golden Peacock National Training Award . exposed periodically to update skills and awareness in leading institutions in the country.
If the trainees need training in a specific technical skill, which the bank cannot provide economically, it sends the employee to institutes . training programme may be conducted at
Remuneration
The wages & salary are decided by banking authority generally Rank within organization and facilities provided accordingly Scale in management level
Comparative remuneration method to decide the salary Calculation of worth of a job
Performance Appraisal a fundamental process appraisal results are used to identify the poor performers appraisee and manager ‘s mutual awareness, understanding and relationship resolving confusions and misunderstandings
process of aligning individual and organizational goals. Main objective was to encourage the employees to think innovatively.
Contd …
delegation, additional responsibilities, employee growth and development counselling and feedback
The bank also aim at building a culture to inculcate professional entrepreneurship to make themselves and the shareholders prosperous
Conclusion Private banks have better role clarity as compared to public sector banks which is clearly visible on the basis of their level of performance. Private Banks have the high extent of Induction Training imparted. Private Banks have the highest extent of Performance Appraisal and Performance Counseling practiced.
Contd …
The Public sector banks possess more transparent and standardized promotion policy. Public Banks have a better Quality of Work Life as compared to Private Banks .
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