The Human Resources Management Department is committed to ensuring that the Bank attracts, recruits, develops, retains and sustains a high performing, diverse work force by developing and implementing progressive human resource management policies and strategies.
The department takes leadership in fostering a positive work environment that places high value on professional and collaborative work relationships while recognizing the importance of individual contributions. It encourages and maintains open communication channels within the Bank as a reliable resource to managers and employees who have questions or issues relating to workplace policies and procedures.
- Staff Planning and Recruitment Division
attract and develop young talent by means of the Young Professionals Programme;
Forecast staffing requirements; plan for and coordinate all staffing needs, organizational design and structures.Provide emerging talent with the opportunity to acquire professional and practical experience through the internship Programme.
- Compensation, Benefits and Compliance
responsible for job classification and management of merit-based pay system in line with Bank’s policy of reinforcing pay for better performance;lead in identification and recommendation of competitive pay and rewards systems in line with the current trends in similar organizations.
- Staff Development and Training Division
- Employee Health and Welfare
Major Challenges Faced by Human Resource Managers
Some of the major challenges faced by human resource managers are as follows: 1. Recruitment and Selection 2. Emotional and Physical Stability of Employees 3. Balance Between Management and Employees 4. Training, Development and Compensation 5. Performance Appraisal 6. Dealing with Trade Union.
1. Recruitment and Selection:
Finding a suitable candidate for the job from a large number of applicants is a basic problem for the human resource manager. They have to make suitable changes from time to time in the selection procedure and see to it that the candidate is up to the mark fulfilling the job requirements. If required, the candidate should be provided with training to get quality results.
2. Emotional and Physical Stability of Employees:
Providing with wages and salaries to employees is not sufficient in today’s world. The human resource manager should maintain proper emotional balance of employees. They should try to understand the attitude, requirements and feelings of employees, and motivate them whenever and wherever required.
3. Balance Between Management and Employees:
The human resource manager has a responsibility to balance the interest of management and employees. Profits, commitment, cooperation, loyalty, and sincerely are the factors expected by management, whereas better salaries and wages, safety and security, healthy working conditions, career development, and participative working are the factors expected by employees from management.
4. Training, Development and Compensation:
A planned execution of training programmes and managerial development programmes is required to be undertaken to sharpen and enhance the skills, and to develop knowledge of employees. Compensation in the form of salary, bonus, allowances, incentives and perquisites is to be paid according to the performance of people. A word or letter of appreciation is also to be given, if some of them have done their jobs beyond expectations to keep their morale up.
5. Performance Appraisal:
This activity should not be considered a routine process by the human resource manager. If employees are not getting proper feedback from them, it may affect their future work. A scientific appraisal technique according to changing needs should be applied and the quality of it should be checked from time to time.
6. Dealing with Trade Union:
Union members are to be handled skillfully as they are usually the people who oppose the company policies and procedures. Demands of the union and interests of the management should be matched properly.
Real Challenges facing HR in the future
Has your job just become the one where you are at the receiving end of every complaint, from employees, from management and even from the CEO himself? If you are the HR manager in your company, then you are most likely to hear more complaints about recruiting. While at one side, unemployment is hovering over the economy, companies are mourning over not being able to find the skilled workforce and sometimes, filling a single vacancy may take months of head hunting.
HR professionals have more than one reason to explain this, but the problem doesn’t end here, there are various other challenges that the industry is likely to face in the coming years. With that in mind, here are the 9 major responses by different HR professionals on being asked, “What will be the “real” HR challenges in the coming years?”
1) Retaining and Rewarding Talented Candidates:
Around 59% seasoned HR professionals believe that in the next few years, major battle will be retaining talented and well-performing candidates. Moreover, it is going to become even worse to recognize and reward the real performers as the market competitiveness is growing and that needs more collaborated efforts to establish loyalty among employees.
2) Developing Future Leaders:
With growing options for top performing candidates, employers are in a great jitty over how will they build the future pillars of the organization. The rising employee turnover rate is giving recruiters really a tough time with implementing practices to enhance employee engagement and make them stay for long in the organization. Over 52% HR people have a serious concern over building next generation organizational leaders.
3) Establishing Healthy and Cooperative Corporate Culture:
Corporate culture has become one of the deciding factors lately. Elevating market demands makes companies work more to grow, expand and sustain within the volatile market scenarios. This, thus directly or indirectly affects the organizational culture, as every resource is over-occupied with loads of work that may affect the healthy work culture at office leading more to clashes or office chaos.
4) Attracting Top Talent to Organization:
During any job interview, a candidate’s job is to sell himself to the recruiters. Similarly, the recruiters also need to sell themselves before the candidate. It is now more important as the talent shortage is making every organization strive to bring in the best talent and become the most preferred choice among available options. Around 36% recruiters feel that it is the need of the hour to establish a corporate culture that will attract best candidates to your organization.
5) Elevating Human Capital Investments:
Around two-fifth of HR professionals indicate that the biggest challenge for the coming decade will be acquiring human capital and optimizing human capital investments. On deeply analyzing the challenges, one thing that is clear is that the most difficult challenge that’ll crop up is retaining good employees and attracting best candidates. This entails that HR professionals need to develop talent management tactics that can effectively contribute in attracting, retaining and rewarding top performing employees. But what the organizations can do for countering this skills shortage and ensure that they find right candidates? Here are the major responses to this…
6) Flexible Work Arrangements:
Millennials just love it! The coming generation of employees emphasizes on working in flexible set-ups and the major concern must be kept on giving results and not on working in a traditional 9 to 6 set-up. This does not disrupts the company decorum or discipline, it will just allow individuals to work the way they want and exhibit better productivity. Even 40% HR pros believe that this can be a wining factor.
7) Clear & Transparent Work Culture & Open Leadership:
Employees demand it greatly, but are seen rarely! That’s a fact! Maximum organizations fail to establish a culture of clear and transparent work communication or open leadership that somewhere affects the employee morale and his dedication to work. 37% have indicated that if communication barriers are removed, then the organization can attract more candidates.
8) Career Advancement Opportunities for Employees:
If the company takes employee career development seriously and strives to work for it as well, then definitely you can shine out over your competitors who are also looking to grab talented prospects for the same jobs. Around 26% professionals have indicated this as a problem and major factor for increased attrition rate.
9) Better Compensations:
Undoubtedly, money matters! If you have a start performer, you need to take good care of the compensation you offer. These days employers are largely playing on this factor with awarding employees lucrative reward packages and attracting more talent towards them. Thus, recruiters need to fold up their sleeves to attract the real talent to themselves to stay ahead of their counterparts.
Recruitment processes are the first interface of candidates with the company and this need to be the best of all. The employer must sell the organization to the candidate and the boarding candidate must also feel elated on joining the same. Apart from other factors,one is that of technology upgraded.
Now is the time of the cloud and one has to be up on technology as every candidate wants to get smoother recruitment application and processing. An effective Recruitment Management System must be there that can take care of channelized processing from application to on-boarding while the HR people can work on other retention and acquisition tactics!
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