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Importance of human resource department function
Importance of human resource department function
Employee training and development introduction
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Objectives of the project:
1. To study the functions of the subsystem of HRD i.e. training and development.
2. To study the existing policies of the Bank with regard to “Training and Development” of their employees.
3. To study the impact of the “Training and Development” program of the organization.
The Indian banking industry plays an important role in the economic development of the country and is the most dominant segment of the financial sector. Banks encourage economic growth by allocating savings to investments that have potential to yield higher returns. Banks safeguard money and valuables and provide many facilities like loans, credit, and payment services, such as checking accounts, money-orders etc. Banks also offer investment and insurance products which they were once prohibited. They perform their basic role of accepting deposits and lending funds from these deposits. Banks securely save the money of depositors, provide interest to them, and lend the funds raised from depositors to consumers. They are in a wide range of sizes, from large Global Banks to Regional and Community Banks.
The Strategic Environment pertaining to Indian Banking Industry, are as follows:
Economic Factors
Indian economy has registered impressive growth of over 9 percent for successive three
financial years and experienced restraint in 2008-09. Banks’ lending to industries, personal loans and service sectors has come to a slow down while, Banks lending to agriculture and allied activities has moved upward during 2008-09. The income as well as the expenditures of Scheduled Commercial Banks viewed a slow down which led to decrease in the net profit. It is true that Reserve Bank of India has supervised the Indian Banking Industry e...
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...corporate level, 3 Regional Staff Colleges, 8 Zonal Training Centers and one full fledged IT Center at Faridabad. The training policy aims to provide training to all its employees at least once in 2 years.
The current process to evaluate the performance of employees at PNB is based on two factors - Level of Learning and Results Achieved. The organizational, operational and individual training needs are identified technically and a linkage amongst the three is established so as to have an effective Training and Development process.
This project has been a wonderful experience, especially with the help of all those people, without the assistance of whom, the project would not have taken the shape it has.
REFERENCES
BOOKS
Human Resource Management
-T.N Chhabra
Training & Development
- A.K. Saha
WEBSITES
www.pnbindia.in/
Wikipedia.org