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The importance of human resource management practices in financial service sectors

Discuss about the Key Challenges in Attracting and Retaining.

The hypothesis of the article is to develop a comparison of the effectiveness and implication process of the human resource management practices in different banks or the financial services sectors in India. India being the house to a substantial number of public sector banks and the banks being the service proving sectors, the productivity of the people is the key to the success of the banks. The purpose of developing the article by the author is to find the reasons and the factors which impacts the proper implementation of the human resource management policies in different public banks in India so that the issues can be identified for developing the mitigation plans. The purpose is to increase the productivity of all financial service sectors as it is driven by the people’s services and so it is very much important to increase the efficiency level of the human resources. The research methodology used by the author is by developing a questionnaire and taking the survey of 266 employees of two different public-sector banks ‘Punjab National Bank’ and ‘State Bank of India’ by mainly concentrating questions on the effectiveness of providing training, appraisals and the impact of better compensation on the efficiency of the human resources. The conclusion of the article is that the different human resource management policies have separate impacts on the performance of the financial service sectors by affecting the motivational level and developing the skills of the human resources. The sectors being driven by the human resources, so they are required to be kept always motivated and by implementing proper human resource management policies, the organizational climate needs to be changed to improve the performance level.

This study in the article applies to the public-sector banks in India, but the findings in the article can help in developing my sector because all the financial service sectors are mainly driven by the human resources only and so the importance of implementing proper human resource management policies are the need of all the organizations. I shall use all the findings in the article to develop my professional field and the performance level of the financial sector company where I shall be working in future.

The hypothesis of the article is to find the outcomes of the implementation of different HRMP (Human Resource Management Practices) in banking sectors of India. India is the hub of many banking and financial sectors including the public sectors, private and multinational banks, the performances and services to the customer’s matters for their sustainability. The purpose of the research is to find the factors or the HRMP which are required to be implemented in the financial service providing companies to increase its performance and the job satisfaction level of the employees. The purpose is to know the challenges that human resource management is facing to enhance the organizational commitment level of the human resources to improve the performance level of the company. The research methodology used by the author are the various analytical methods like ‘Path Analysis’, ‘Multiple Regression Method’, ‘Factor Analysis’ were used on the data obtained by conducting a survey of 600 employees or the professionals working in three banks in India. For developing the survey report, 200 employees of each three banks were contacted with the questionnaires and then the received data were analysed using the above mentioned analytical methods. The conclusion of the article is that the impact of job satisfaction level and the increase in organizational commitment level of the employee’s matters for the improvement of the overall performance level of the financial service sectors. So, the proper implementation of HRMP in financial service sectors are the key for improving the success rate of the companies by improving the job satisfaction level and commitment level of the employees towards the organization for which they are working.

The impact of training, appraisals, and compensation on the efficiency of human resources

This study in the article applies to the banking sector of India only, but the findings in the article can help me in developing my sector because all the financial service sectors are driven by the people (or the employees) only and so the importance of implementing the proper HRMP are very much important for the success of all the financial service organizations. I shall use all the findings in the article to imply in my future company for upbringing the performance level of the company.

The hypothesis of the article is to measure the effect of proper administration on the human resources to up bring the skill of innovation and development with the nearness of abilities as a middleman variable. The article is analysed to develop the distinctive features and the significance of proper administration of human resource practices for UAE banks and investigates the part of human resource administration rehearses in upgrading the inventiveness and development of representatives. The purpose of developing the article by the author is to identify the reasons or the factors or the actions of human resource practices which can be implemented in the banks of Abu Dhabi to improve their performance level for being competitive in the world market. The problem presents in the article for which the research has been conducted is to identify the impact of providing proper training to the employees and up to what extent and the negative impacts of not providing trainings by the superiors on the overall cost of profit to the companies. The research methodology used by the author to develop the conclusion is by conducting both the types of research, that is theoretical and the practical. As a part of the theoretical research, the author has reviewed many scholar articles in the subject and for the practical findings, a field study on various banks in Abu Dhabi are conducted with a set of questionnaires. The conclusion of the article found is that all financial sectors should develop an employee wise needs of the training and then plan for providing the training by defining a schedule by considering the different factors like age, sex, position, etc. to improve the performance level of the organization.

This study in the article applies to the banking sector of Abu Dhabi only, but the findings in the article can help me in developing my sector because almost all the financial service sectors or the banking sectors irrespective of the country works on the human resources, and so developing the proper human resource practices like providing the exact training to the employees to enhance their skill can positively improve the performance level of the banks or the financial service sectors. I shall use all the findings in the article to develop the job satisfaction level of the human resources in my financial service sector company by implementing proper training plan and execute it too.

The role of human resource management in banking sector performance

The hypothesis of the article is to identify the relationships between the human resource factors of the company and the skill level of the accountants so that the demographic factors also cannot have an impact on the company’s performance. The article is also developed to examine the human resource factors which are important for the growth of banking sectors other than the mere growth in profit or the economic status; there are some other factors such as the corporate social responsibilities which can have positive impacts on the financial services to grow further especially in Jordan. The purpose of developing the article by the author is to find the impacts of some independent variables like ‘Gender’, ‘Age’, ‘Education’ and ‘Experience’ to know the factors affecting the skills of an accountant in the Jordanian Banks. The research methodology used by the author to develop the conclusion is both the descriptive analysis of the articles or the literature present for the subject topic and the statistical analytical methods to reach at the consensus mathematically too. The analytical analysis was conducted on the survey reports of 105 numbers based on the revert on the pre-set questionnaires and its feedback from accountants of different banks in Jordan. The conclusion of the article found is that the demographic characteristics of each employee has its proper impacts on the providing the proper information on the survey questionnaires and along with that, it is true that the human resource practices can have impacts on the factors of the skill development level of the accountants and so by implementing better human resource practices, the skills of accountants can also be increased accordingly.

This study in the article applies to the banking sector of Jordan only, but the findings in the article can help me in developing my sector because all financial sectors use their human resource as their main capital and asset, and so it is important to improve the human resource practices in all financial sectors. I shall use all the findings in the article to develop the knowledge base on how and which factors I can imply up on the company where I shall be working in future.

The hypothesis of the article is to develop an understanding of the ‘Human Capital Management’ (HCM) practices which are being practiced by the different banking sectors. The article also explains the factors which can impact the HCM practices in the different banking sector. The article explains the role of HRM in banking sector such as planning the human resource requirement, then recruiting them, and motivating them to retain the manpower for developing a sustainable growth of the financial service sectors. The purpose of developing the article by the author is to find the methods and the impacts of implementing proper human resource practices in the banking sectors which can relatively improve the HCM performances in the selected sectors. The research methodology used by the author to develop the conclusion is the both ‘primary’ and ‘secondary’ data analysis method. According to the primary data analysis method, a survey on the questionnaires are conducted to understand the behavioral prospects of the employees and then as a source of secondary data, the scholar articles present in the market are evaluated by the author. After the development of research survey data, the sampling analysis technique is used by the author to reach the conclusion level. The conclusion of the article found is that the training and development programs in the banking sector for the employees can have positive impacts on the HCM along with the implementation of proper wage compensation for the workforces.

This study in the article applies to the banking sector, and the findings in the article can help me in developing the implantation plan of proper HCM in my sector because the findings like implementing training and development programs and the proper wage compensation are the famous actions which are well proven in the market to up bring the skills of the people. I shall use all the findings in the article to enhance the effectiveness of proper implementation of the HCM plan in the financial sector in future as an apart of my professional career.

References:

Gulzar, R. (2018). A Comparative Study of Human Resource Management Practices and Its Impact on Organizational Performance in Indian Public Sector Bank. International Journal of Human Resource Studies, 8(1), 89-108.

Mangaleswaran, T., & Srinivasan, P. T. (2011). Human Resource Management practices and its Outcomes in Indian Public Sector Banks. International Journal of Research in Commerce and Management, 2(12), 11-16.

Alomari, B. M. (2017). The Importance of Training and its Impact on the Performance of Employees in Banking Sectors of Abu Dhabi, Dubai - UAE to Raise Efficiency: A Field Study on UAE banks. Journal of Accounting & Marketing, 6(2), 1-8.

Hamdallah, M. E., Abed, S. R., & Srouji, A. F. (2013). Human Resource Factors and its Effect on Accountants in Jordanian Banks. Global Journal of Management and Business Research, 13(5), 8-14.

Rainke, S. (2015). Role of Human Capital Management in Banking Sector. International Journal of Emerging Research in Management &Technology, 4(9), 32-35.

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My Assignment Help. (2019). Essay On HRM Practices In Banks: India, UAE, And Jordan.. Retrieved from https://myassignmenthelp.com/free-samples/key-challenges-in-attracting-and-retaining.

"Essay On HRM Practices In Banks: India, UAE, And Jordan.." My Assignment Help, 2019, https://myassignmenthelp.com/free-samples/key-challenges-in-attracting-and-retaining.

My Assignment Help (2019) Essay On HRM Practices In Banks: India, UAE, And Jordan. [Online]. Available from: https://myassignmenthelp.com/free-samples/key-challenges-in-attracting-and-retaining
[Accessed 26 February 2024].

My Assignment Help. 'Essay On HRM Practices In Banks: India, UAE, And Jordan.' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/key-challenges-in-attracting-and-retaining> accessed 26 February 2024.

My Assignment Help. Essay On HRM Practices In Banks: India, UAE, And Jordan. [Internet]. My Assignment Help. 2019 [cited 26 February 2024]. Available from: https://myassignmenthelp.com/free-samples/key-challenges-in-attracting-and-retaining.

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