TYPES OF HUMAN RESOURCE MANAGEMENT PRACTICED IN INDIAN BANKING
The study indicated that four types of HRM were being practiced in Indian banking:
Type 1: Traditional HRM - Largely concerned with record keeping and administration of various staff related entitlements like leave, LTC, gratuity, pension etc.
Type 2: Trouble-shooting HRM - Handles aggressive unions, associations, staff groups; where attrition rates are high, tries to get replacements quickly.
Type 3: Professionalist HRM - This is HRM systems driven. It tries to build up ‘objective’, scientific systems of recruitment, selection, promotion, transfer, remuneration, incentives and rewards, training etc.
There is, however, frequently a gap between the priorities of the CEO and the priorities of the bank’s HRM function.
Type 4: Transformational HRM - This is committed to the organization’s vision of transformation from a laid back, bureaucratic, risk-averse organization to a dynamic, innovative, entrepreneurial, growth and high performance-oriented organization. It works closely with a transformational CEO.
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