Literature Review on HR Practices in Banking Sector

<a>Presently the competition is sky high in banking industry. Merely tough competitors can persist under these prompt changes. Every single bank wishes to face this situation and emerge as victorious, but it is not as easy as one could imagine. However, this could be possible somewhat if a desire to work altogether for transformation is made. Fast moving and complex world of new techniques &skills have forced banks to consider it and to adjust themselves to the changing banking environment. There is a requirement to advance competencies i.e. skill, knowledge, and approach among the bank employees to make them more appropriate to the altering circumstances. Since every human being has potential to do remarkable things, and to support him to understand, develop and utilize his/her potential, bank should provide them knowledge and emerging climate as well as prospects. And this is possible only if efficient and effective Human Resource Practices, which would maximize value and minimize cost within the organization should be applied. However, there is no single practice to which all organizations should aspire, but to some extent each firm must have a distinguishing Human Resource Management System that represents core competencies required for the survival and sustainability for that particular organization. Best for one firm may not be best for other. Best technique applied last month may not be best for today. Hence, in this present competitive world, management of human resources have been a matter of crucial determination of success for the banking industry. Better management of human resource has been more earnestly felt as a vital, in recent decade as before. Thus, with a view of inevitability of Human Resource in banking sector, the aim of this study is to examine HRM Practices followed by public & private sector banks & to provide some suggestions</a><div> <div><div><br> </div> </div>