Professional Documents
Culture Documents
CHAPTER 1
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Objective: To understand various approaches to Human resource Management in Banks Classify the networking and processing concepts Identify the various techniques adapted by Human resource management Study of Human resource department in banks
Scope:
Methodology :
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HISTORY OF BANKING
Banking is nearly as old as civilization. The history of banking could be said to have started with the appearance of money. The first record of minted metal coins was in Mesopotamia in about 2500B.C. the first European banknotes, which was handwritten appeared in1661, in Sweden. Cheques and printed paper money appeared in the 1700s and 1800s, with many banks created to deal with increasing trade. The history of banking in each country runs in lines with the development of trade and industry, and with the level of political confidence and stability. The ancient Romans developed an advanced banking system to serve their vast trade network, which extended throughout Europe, Asia and Africa. Modern banking began in Venice. The word bank comes from the Italian word banco, meaning bench, because moneylenders worked on benches in market places. The bank of Venice was established in 1171 to help the government raise finance for a war. At the same time, in England merchant started to ask goldsmiths to hold gold and silver in their safes in return for a fee. Receipts given to the Merchant were sometimes used to buy or sell, with the metal itself staying under lock and key. The goldsmith realized that they could lend out some of the gold and silver that they had and charge interest, as not all of the merchants would ask for the gold and silver back at the same time. Eventually, instead of charging the merchants, the goldsmiths paid them to deposit their gold and silver. The bank of England was formed in 1694 to borrow money from the public for the government to finance the war of Augsburg against France. By 1709, goldsmith were using bank of England notes of their own receipts. New technology transformed the banking industry in the 1900s round the world, banks merged into larger and fewer groups and expanded into other country.
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Banks fulfills the role of a financial intermediary. This means that it acts as a vehicle for moving finance from those who have surplus money to (however temporarily) those who have deficit. In everyday branch terms the banks channel funds from depositors whose accounts are in credit to borrowers who are in debit. Without the intermediary of the banks both their depositors and their borrowers would have to contact each other directly. This can and does happen of course. This is what has lead to the very foundation of financial institution like banks.
Before few decades there existed some influential people who used to land money.But a substantially high rate of interest was charged which made borrowing of money out of the reach of the majority of the people so there arose a need for a financial intermediate.
The Bank have developed their roles to such an extent that a direct contact between the depositors and borrowers in now known as disintermediation.
Banking industry has always revolved around the traditional function of taking deposits, money transfer and making advances. Those three are closely related to each other, the objective being to lend money, which is the profitable activity of the three. Taking deposits generates funds for lending and money transfer services are necessary for the attention of deposits. The Bank have introduced progressively more sophisticated versions of these services and have diversified introduction in numerable areas of activity not directly relating to this traditional trinity
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CHAPTER 2
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INTRODUCTION The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment. HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build sound customer franchises across distinct businesses so as to be the preferred provider of banking services for target retail and wholesale customer segments, and to achieve healthy growth in profitability, consistent with the bank's risk appetite. The bank is committed to maintain the highest level of ethical standards, professional integrity, corporate governance and regulatory compliance. HDFC Bank's business philosophy is based on four core values - Operational Excellence, Customer Focus, Product Leadership and People.
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After returning to India in 1936, Mr. Parekh began his financial career with a leading stockbroking firm, Harkisandass Lukhmidass. Simultaneously, he was a lecturer in Economics at the St. Xavier's College in Mumbai for about three years. He considered his two-decade long stint at the broking firm valuable, as it not only gave him his most basic lessons in the business but also immensely contributed to his personal growth.
During this period Mr. Parekh also continued to study and write on different aspects of the economy and economic policy, money and banking, and also participated in public discussions. Driven by deep interest in investment banking, he decided to move on to his next major assignment. In 1956, Mr. Parekh joined the newly set up development finance institutionIndustrial Credit and Investment Corporation of India Limited (ICICI). Under his leadership ICICI grew impressively to gain acceptance of the Indian business community, recognition of Government and even became a show piece for the World Bank.
For decades he had been stressing the need for a financial corporation specializing in providing long term finance for ownership housing. Thus even at the age of 66, when most people think of retirement, Mr. Parekh was determined to set up his most ambitious enterprise.
His lifelong dream of helping Indians own their home, as he had seen abroad during his student days, led to the formation of the Housing Development Finance Corporation Limited (HDFC) in 1977. It was the first-of-its-kind in India. It is under Mr. Parekhs leadership and direction that HDFC grew manifold while being strongly rooted in the principles of integrity, transparency and professionalism. Soon HDFC became a major role model not only for the country but for the entire Asian region.
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In keeping with his zeal for promoting new ventures, in 1983, Mr. Parekh promoted the first private sector oil exploration company in India, Hindustan Oil Exploration Company Limited. He also set up Gujarat Rural Housing Finance Corporation Limited in 1986. Mr. Parekhs love for writing blossomed right from his school days. In addition to being a regular contributor to the media with over 200 published articles to his credit on a variety of subjects such as industry, economic policy, capital market, development banking, credit policy, etc., he was the author of several books. He authored The Bombay Money Market, a novel book detailing the intricate workings of the money market in lndia. He also chronicled his considerable experience as a development banker in his book, The Story of a Development Bank (ICICI: 1955-1979). Some of his other books include The Future of Joint-Stock Enterprise in India, India and Regional Development, Management of Industry in India and The Indian Capital Market - Past, Present & Future. Also, his writings in Gujarati, Hirane Patro and Hirane Vadhu Patro are considered works of great importance in Gujarati literature. His wisdom and warmth drew people from all walks of life to him for advice, guidance and inspiration. Mr. Parekh was a man of few words, and believed that strong views need not be expressed in strong words. He had a keen eye for talent and nurtured it by providing direction and ample learning opportunities.
Known for his humility, affection and concern for fellowmen, Mr. Parekh was associated with several philanthropic causes and welfare organizations.
In 1986, he was one of the founders of the Centre for Advancement of Philanthropy and served as its Chairman since its inception until his retirement in 1993. His concern and love for the city of Mumbai (erstwhile Bombay) led him to form the Bombay Community Public Trust in 1991. This venture was designed specifically to address the needs of disadvantaged citizens in the city of Mumbai. He took the initiative to finance Mumbais first public toilet by any corporate house Sulabh Shauchalaya. Additionally, Mr. Parekh served as trustee of the Sameeksha Trust, Saurashtra Trust, Kasturba Gandhi National Memorial Trust, The India Foundation, The lndia
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Heritage Trust, The Chakallas Puraskar Trust and also served as the President of the Social Service League. Some of Mr. H.T. Parekhs major achievements are:
The James Taylor prize for standing 1st in B.A. (Economics) from the University of Mumbai. Honorary Fellow of the London School of Economics and Political Science, U.K. Padma Bhushan by the Government of India for his contribution to the field of economic activities in 1992. The thoughts and dreams of a legend like Mr. H.T. Parekh live on forever, changing human lives for the better. Deepak Parekh, the Chairman of HDFC Bank, serves as a member on the IIHS board. Education: Born in 1944, Deepak did his Chartered Accountancy from the Institute of Chartered Accountants in England and Wales (ICAEW). Deepak began his career in 1970 with Ernst and Young Management Consultancy Services in New York and worked with Grindlays Bank and Chase Manhattan Bank in Mumbai before joining HDFC in 1978 a year after its inception, as deputy general manager. He went on to become its chairman in 1993. Deepak has steered HDFC to its current position as not just the market leader in housing finance but also as a financial conglomerate with a presence in banking, asset management, life insurance, general insurance and a real estate venture fund. Besides the HDFC group companies, Deepak is on the board of several leading corporations across diverse sectors. He is the non-executive chairman of Glaxo Smithkline
Pharmaceuticals, Infrastructure Development Finance Company(IDFC), Lafarge India and Siemens India Ltd. He is also on the boards of Castrol lndia Limited, Hindustan Unilever Limited, Mahindra & Mahindra Limited, Indian Hotels Company Limited among others and international boards of Singapore Telecommunications Ltd. (Singapore) and WNS Global Services Pvt. Ltd. (USA). Deepak is also nominated by the Civil Aviation Ministry to the Board of Airports Authority of India.
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In addition to being known for his views seeking standardisation and transparency in the real estate sector, Deepak has also acted as an advisor to the government during crisis situations like UTI in the late 1990s and more recently, Satyam, to recommend measures for sustaining investor confidence. Deepak is an active member of various high-powered economic groups, government-appointed advisory committees and task forces which include financial services, capital markets and infrastructure sector reforms. Some of these include heading the Rajiv Awas Yojna, a committee to suggest ways of making Indian cities slum-free, membership of a high level committee to stem BSNLs deteriorating financial health and bring it up to competitive standards, chairmanship of the New Pension Scheme Expert Group, chairmanship of the High Level Task Force on Affordable Housing, membership of the Investment Commission for greater FDI inflows into India, membership of Comptroller and Auditor General of India (C&AG)s Audit Advisory Board, among others.
AWARDS
As in the past years, awards and recognition were conferred on your Bank by leading domestic and international organizations during the fiscal year ended March 31, 2011. Some of them are : Asian Banker 2011 Strongest Bank in the Asia Pacific region Bloomberg UTVs Financial Leadership Awards 2011 Best Bank Outlook Money 2010 Awards
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Best Bank Business world Best Bank Awards 2010 Best Bank (Large) NDTV Business Leadership Awards 2010 Best Private Sector Bank IDRBT Technology 2009 Awards Best IT Infrastructure Best use of IT within the Bank
BUSINESS STRATEGY
I. Increasing market share in Indias expanding banking II. Delivering high quality customer service III. Maintaining current high standards for asset quality through disciplined credit risk management IV. Develop innovative products and services that attract targeted customers and address inefficiencies in the Indian financial sector.
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Work force of an Organization is one of the most important inputs of components. It is said that people are our single most important assets. Because of the unique importance of HUMAN RESOURCE and its complexity due to ever changing psychology, behavior and attitudes of men and women at work, in all business concerns, there is one common element. I.e. Human personnel function, i.e., manpower management function is becoming increasingly specialized. The personnel function or system can be broadly defined as the management of people at workmanagement of managers and management of workers. Personnel function is particularly interested in personnel relationship and interaction of employees human relations.
In a sense, management is personnel administration. Management is the development of people, and not mere direction of material resources. Human capital is the greatest asset of a business enterprise. The essential ingredient of management is the leadership and direction of people. Each manager of people has to be his own personnel man. Personnel management is not something you really turn over to personnel department staff.
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He maintains the database of the candidates to come for an interview. He also maintains personal file of each employee. He also completes the joining formalities of each new employee. They are taking surprising visit in every branch and collect information about employees. He is responsible for the monthly salary of the employees as per their attendants and passing to the Branch Manager.
Recruitment
Recruitment is a process of searching for prospective candidates for the given job in the industry. As we know it is very important for an industrial concerns to have efficient and effective personnel with right quality and at right time and at right place available whenever they are needed. Every organization needs employee time by time because of promotion or retirement of an employee. For this purpose an organization need to search for the right candidate. And so it needs to encourage this type of right candidates whenever they require.
Sources of Recruitment
Personal data of candidates and data bank maintain by the HR Department Campus Recruitment. Companys own website. Placement consultants. Advertisement in the news papers like Times of India, Gujarat Samachar. Employee reference.
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Finding the need of manpower in the company and advertising for the position in media, journals and newspapers. Human resource department of the bank should be responsible for mentioning the skills and knowledge required for the post. Giving an interview call is also human resourse departments responsibility after monitoring the application received and sort the apt candidate who posses all the skills and qualification required for the job Interview is conducted in four steps, A test will be conducted to all selected candidates to check the technical knowledge about the work they are going to perform, then a HR interview will be conducted to know more about the candidate and check whether the candidate is apt to the organization, then a group discussion will be there to check the behavior and commanding skill of the candidate, a final round interview will be conducted by the head of al the departments regarding the functions he is going to perform in the bank.
Selection is the process of taking individuals out of the pool of job applicants with requisite qualifications and competence to fill jobs in the organization. It is define as the process of differentiating between applicants in order to identify and hire those with a greater likelihood of success in a job. Selection is based on probation base, they are taking experienced person for 6 months probation and for fresher the probation period is 1 year. While the selection of the senior level post, is taken by head office at Mumbai.
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Training aims at increasing the aptitudes, skills and abilities of workers to perform specific job. It makes employees more effective and skillful. In present dynamic world of business training is more important there is an ever present need for training men. So that new and changed techniques may be adopted. A new and changed technique may be taken as an advantages and improvement affected in the old methods.
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APPLICANT POOL
PROFILE CHECK
SHORT LIST
SCREENING
INTREVIEW
Training is learning experience that seeks relatively permanent change in an individual that will improve his/her ability to perform on the job. They provide on the job training to their employees in the branch as they select these employees for selling various products of bank by direct marketing. Whenever they select new candidates for any post, they use to give them on the job work. In case of sales persons to distribute their various products, in the beginning the person has to work under the observation of his senior then the have to go in market to have their own experience. The time for training program for the candidate is depends up on the relevant position of his work area. They also provide training related to customer care and communication.
Performance Appraisal
An organizations goals can be achieve only when people put in their best efforts. Performance appraisal may be understood as the assessment of an individuals performance in a systematic way. It is define as the systematic evaluation of the individual with respect to his/her performance on the job and his/her potential for development. To appraise the performance of the employee they have developed a credit system on the basis of the given target to the employee. After appraising the performance of the employee they put the grade of each employee in the following grade criteria.
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Wages and Salary A part from various incentives and benefits, the personnel are compensated only in terms of wages and salaries. A proper compensation in terms of this is necessary for motivation employees for their continuous improved performance. For all this, it is required that wages and salaries are provided well by organization. Wages and salary refers to the establishment and implementation of sound policies and practices of employees compensation. A wage and salary is the remuneration paid for the service of labor in production periodically to an employee. The bank is in service industry so the salary is given on monthly basis. They use to hire certain salesman on commission base and they are provided their salaries on commission base. While other permanent staff are being given monthly salaries. As HDFC bank is reputed bank in market the pay scale are asper the standard. Sales executives (coax) are being given salary of 6000 to 8000 per month. While sales officers salary ranges from 15000 to 18000 per month. HDFC bank is also giving attractive incentives as per the target. The salary of branch manager is around 35000 per month.
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Incentive
In HDFC, employees get incentives on the basis of the target given to each employee and their area of work. They have developed the incentive structure for the employees on the basis of point system. All the employees get the incentive in the form cash reward.
Employees benefit
The employees of HDFC automatically become HDFC bank salary account Holders with special benefit and privileges and receive instant salary credit. The benefit include international debit card, corporate card with individual liability (CCIL), access to phone banking and internet banking, demat accounts, and host of other services to complement their savings account. Here are some of the features of HDFC Banks salary account.
Motivation
Motivation is willingness to do something conditioned by this actions ability to satisfy some need. Motivation is given by the responsible person, like branch manager or team manager for better performance in the department.
As employee is the back bone of the organization the company should always make sure about the commitment of the employee. motivation and appraisal will decrease the gap between the employee and the managemt reward programmes will increase the confidence of the employee and make them more committed towards the organization .the managers can yield more productive and creative results by motivating their employee by offering financial enrichment ,incentives the company can motivate the employee for achieving its goals ,the managers can also motivate the employee by removing organizational barriers by giving their employees respected loyalty. HDFC bank rewards the employee with reward points, incentives or gift to motivate the employee to achieve more goals. The bank will give warnings and try to improve the performance of those employees whose performance is bad to avoid quick terminations.
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Employee Participation
The Bank encourages employee participation at all levels to strengthen its corporate social responsibility initiatives as well as inculcate a stronger sense of ownership amongst its employees of each of these initiatives.
Employee Payroll
Giving Employees are provided with an easy and convenient system to donate through the employee payroll giving. The donor enjoys the flexibility of choice with regards to the amount that they wish to donate and the cause that they wish to support. The Bank adds a matching amount to the contribution to endorse its support to the cause chosen by the employees.
Employee Volunteering
Employees are an integral part of the Banks social initiatives, they are encoura ged to participate in philanthropy work involving their time and skills in many possible ways. Employees can choose NGO partners they would like to work with and the manner in which they would like to dedicate their time and skill. Your Banks employees have increasingly participated in summer camps; conducted english-speaking classes; collected paper waste, assisted in academic support programs, donated blood and so on. With its focus on creating self-reliance and promoting education in the interiors of the country, your Bank has been able to make meaningful differences a small group of individuals through its many programs. Going forward we would like to look at CSR not as a stand-alone function but as an ideology that is interwoven into every aspect of your Banks operations.
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WHAT IS SWOT ANALYSIS OF HDFC BANK ? SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. The technique is credited to Albert Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.
Strengths
HDFC bank is the second largest private banking sector in India having 2,201 branches and 7,110 ATMs
HDFC bank is located in 1,174 cities in India and has more than 800 locations to serve customers through Telephone banking
The banks ATM card is compatible with all domestic and international Visa/Master card, Visa Electron/ Maestro, Plus/cirus and American Express. This is one reason for HDFC cards to be the most preferred card for shopping and online transactions
HDFC bank has the high degree of customer satisfaction when compared to other private banks The attrition rate in HDFC is low and it is one of the best places to work in private banking sector
HDFC has lots of awards and recognition, it has received Best Bank award from various financial rating institutions like Dun and Bradstreet, Financial express, Euro money awards for excellence, Finance Asia country awards etc
HDFC has good financial advisors in terms of guiding customers towards right investments
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Weakness
HDFC bank doesnt have strong presence in Rural areas, where as ICICI bank its direct competitor is expanding in rural market
HDFC cannot enjoy first mover advantage in rural areas. Rural people are hard core loyals in terms of banking services.
HDFC lacks in aggressive marketing strategies like ICICI The bank focuses mostly on high end clients Some of the banks product categories lack in performance and doesnt have reach in the market The share prices of HDFC are often fluctuating causing uncertainty for the investors Opportunities
HDFC bank has better asset quality parameters over government banks, hence the profit growth is likely to increase
The companies in large and SME are growing at very fast pace. HDFC has good reputation in terms of maintaining corporate salary accounts
HDFC bank has improved its bad debts portfolio and the recovery of bad debts are high when compared to government banks
HDFC has very good opportunities in abroad Greater scope for acquisitions and strategic alliances due to strong financial position Threats
HDFCs nonperforming assets (NPA) increased from 0.18 % to 0.20%. Though it is a slight variation its not a good sign for the financial health of the bank The non banking financial companies and new age banks are increasing in India The HDFC is not able to expand its market share as ICICI imposes major threat The government banks are trying to modernize to compete with private banks RBI has opened up to 74% for foreign banks to invest in Indian market
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MISSION
I. World Class Indian Bank II. Benchmarking against international standards. III. To build sound customer franchises across distinct businesses IV. Best practices in terms of product offerings, technology, service levels, risk management and audit & compliance
The objective of the HDFC Bank is to provide its target market customers a full range of financial products and banking services, giving the customer a one-step window for all his/her requirements. The HDFC Bank plus and the investment advisory services programs have been designed keeping in mind needs of customers who seeks distinct financial solutions, information and advice on various investment avenues.
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Appropriate selection and identification of over all skills profile Investment in training and development Motivation and appraisal
For implanting a resource strategy we must be translate the strategy in to practical action. For that planning is an impotent criteria that to be organized logically.
HARD MODEL
Hard model also referred as matching model or best fit approach is a method of extracting the maximum potentials from the employee for the benefit of the company. Here the employees are considered as a tool of the organization to achieve its goals.HSBC bank doesn't use hard model often but their cashing sections were the functions are a routine.
SOFT MODEL
Soft model gives foremost consideration to the employee and will try to develop the skills of the employee for the betterment of the organization. here the employee is motivated to achieve the goals of the organization .soft model is very relevant in the industries which requires innovative
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and creative works. HDFC mainly follows this model of HRM as it considers for its employees and preserve their rights to make them grow with the company and intact increases the productivity of the organization.
Workforce planning
Workforce planning is important in an organization as indicates the need of staffs required for a particular task. Human resource department can prepare a chart indicating the time when the work should be finished and the amount of manpower required for the task .finding out who is the right person for the task will increase the productivity of the organization.
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Individual objective
Individual objectives visions for the improvement of skills of the employee. By training the employee regarding the new technological inventions and changes in the market will enable the company to expand its business. The employee by developing the skills and knowledge can easily achieve the tasks and will be beneficial to the organization. HDFC bank conducts frequent development programmes to the staffs to make them more market oriented and to let them know bout the latest changes in technology.
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Departmental objective
Human resource plays a vital role in the efficient run of all departments as it recruits and trains the right employee for the position. Developing the knowledge about the department employee will have a clear idea about the department works and reporting person. The employee should be known with the risks involved in the department and the human resource should train them in such away that he can challenge all the risks and produce a better result for the department.
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between the high level administration and staffs. organisation can allocate a reward programmed for the employees to enhance their performance. Performance evaluation widens the opportunity for the employee to develop and be more beneficiary to the company. Performance evaluation is a strategic canalization about the employees to improve their potential and making them beneficial for the company. There are several aspects that should be considered while evaluating the performance. Those aspects are stated below:-
Achieving targets
The more an employee achieve companies target more the company will lend the support. Employee who cannot achieve the task will be considered as a burden for the company. So the organization will monitor every employee's performance and will rate the employee according to the target he achieves.
Features of work
The company will measure the employee's quality and quantity of work and will evaluate his performance accordingly. The organizations goodwill always depends on the quality work performed by the employee. So the company will be very keen on the way the employee does his work.
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with his co worker. With his performance in achieving target company also looks forward for a good behavior within the organisation.
Cost control
The company always looks for the employees who are cost efficient on completing their tasks. They prefer staffs that can control the expenditure of operations to achieve the target.
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"Today's competitive environment means that human resources [HR] must refocus away from activities that sap value from the organization and instead focus on achieving outcomes that improve company performance," says C.N. Ram, head of information technology at HDFC Bank. HDFC was already an established leader in eliminating the inefficiency traditionally associated with resource planning and management, and bank management knew just what to do.
"Due to significant growth in the number of our employees over the past few years, we could no longer handle our human capital management on Microsoft Excel spreadsheets and homegrown reports," says Ram. In addition, management understood that high growth rates might have jeopardized product quality, while tension about relative compensation levels between the sales personnel in the branch and operations could have threatened HDFC Bank's culture.
People are our business ,to The bank decided to implement Oracle Human Resources applications so that HR planning and tracking could be handled more efficiently. "We had already compiled large amounts of data about employees who had been with us for awhile, but we lacked a workable way to store other kinds of information, such as data about family
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members and career paths at HDFC Bank," Ram explains. "We can now capture everything, which gives senior management better data for performance evaluations and helps them do better career planning." The solution also allows the bank to compensate on the basis of performance and provide targeted career development, which raises credibility with employees and helps the bank attract and retain top candidates . HDFC Bank has also implemented Oracle's applications for HR analysis and reporting across the enterprise, providing management with the ability to drill down into performance and cost on an exceedingly granular level. This gives the bank the flexibility to tailor employee record-keeping while remaining in compliance with employment laws. Additionally, the automation of actions such as warnings, e-mail notifications, and vacation hour balances gives the bank a complete profile for each employee. "The comprehensive reporting capabilities save a lot of staff time and allow us to handle profiles, skill sets, and training and integrate them with the payroll system," continues Ram.
low cost key to profitability.A big part of the bank's tremendous performance and profitability is tied to the low cost of operations driven by automation and reduced employee costs. The total automation of HR processes has reduced errors and introduced a best-practices approach that encourages employees to perform well and allows them to reap the rewards of their good performance. "Organization-building and our high commitment to HR management are paying off," says Ram. "These kinds of changes can be extremely destabilizing if not managed appropriately, but HDFC Bank has embraced the right formula, and the right applications, for successful employee management and tracking."
HDFC Bank has also implemented Oracle Balanced Scorecard for its HR function, to evaluate the effectiveness of its HR management. Through this approach, the bank is able to measure and improve the effectiveness of support functions and quantify non-financial measures to better track those functions. It has also transformed the HR department from a purely administrative organization to one that has significant input in recruitment, development, and strategic planning. And it's able to track the effect of management systems on shareholder influence, flows, rewards, and work systems.
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CHAPTER 3
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Recommendations
A wide publicity to be given about the organization and its products through various means of communications to keep growth moments. More number of training and educational programmes should be provided to the employees in order to become more efficient. Developing a learning culture through continous learning process.
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CHAPTER 4
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Conclusion
As a very promising banking sector HDFC bank is finding its position among the top with branches extended in India and Overseas the proper implementation of human resource strategy has took the organization into a new level of customer banking. HDFC always made sure that the employees are very productive and innovative and are adherent to the bank policies. This helps the organization to achieve its goals in the long run. Hence in today's competitive business world HDFC has achieved a major role in their customer's satisfaction through achieving their major goals in the starting of every business year they will come up with new schemes like investment banking, financial solution for corporates, trade service, corporate banking, payment and cash management which will always customer oriented and their by the HDFC bank can increase the trustworthy of the customers as well as other business entity.
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REFRENCES:
BIBLIOGRAPHY
Management Accounting Chaudhary & Chopde Principles of Banking - Bandgar Research Methodology C.R.Kothari
WIBLOGRAPHY
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