Mastering project human resource management pdf download

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The evolution of banking dates back to the earliest writing, and continues in the present where a bank is a financial institution that provides banking and other financial services. Currently the term bank is generally understood as an institution that holds a banking license. Banking licenses are granted by financial supervision authorities and provide rights to conduct the most fundamental banking services such as accepting deposits and making loans.

There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-bank. Banks are a subset of the financial services industry. Human resource management HRM has long been overlooked in the corporate sector in the country where a small section, comprising mostly the multi-national companies was practicing the same.

With the growing realization of proper HRM in the corporate sector, it has grown into an important activity. Now the head of HRM is an important member of the senior teams of any thriving business. Although the idea is new for many local businesses where entrepreneurs are at the beginning of the learning curve yet in reality the theme is getting support from the organized entrepreneurs. Almost every bank and financial institution is involved in various functions in a day's job and thus requires a highly effective team and appropriate manpower to run the show.

Corporate goals are translated into viable realities and profits only with human element that play their due role in achieving the desired results. Thus even the high automation would require proper man behind the machine to make things happen. This idea has been realized by top management in progressive banks.

Like many other organized sectors, banking requires multi-layer manpower for its various requirements of professionals and support staff. The range may require reasonably educated security guards on the one end and a highly educated and trained professional as head of corporate finance at the other. With liberalization of activities within the banking sector, for example, more emphasis on consumer and house finance and personal loans, etc. This has further highlighted the need for proper deployment of man-power to run banks efficiently.

For many years, HRM banks like other institutions have been handling this sensitive activity through respective personnel departments. This means human resources were managed like other physical assets e. Personnel departments were primarily engaged in approval of leaves, handling of staff loans, issuance of show cause, conducting disciplinary enquiries and termination from service.

Recruitment was a routine function and was done in a mechanical way to hire people with specific educational background irrespective of their real value to the institution. Success stories of large banking companies have been evident of the fact that HRM is quite different from management of physical assets.

Human brain has its own peculiar chemistry. The work force constituting all levels of employees is constantly thinking in many dimensions. On the one hand it is the assigned duty and task they are to perform and for which they are paid by their employer, on the other they think of their long run goals and objectives. By no means, their brains can be controlled to think beyond the current situation of employment.

Managing this educated, skillful and trustworthy work force is not an easy job. The Human Resource field in the Banking Industry is considered as one of the process of discovery and transformation. The field of Human Resource can be described as emergent and dynamic within the cultural business aspect in a Banking Industry. The evolution of banking system in India affected the human resource practices, recruitment and selection practices, and training system.

It is very important that the details of human resource are discussed along with the employees, to build their own career planning, perceptions and development.

The primary strength of the industry is the human resource that is why the efforts to develop the skills and management are the main subject placed before the human resource.

A major challenge for many banks will be to develop the special competencies and skills for credit appraisal and risk management. Putting the information technology is a key contributed in human resource development. With the acquisition and preparation of human resources, including planning, recruitment, selection, and training can affect the whole organizational performance.

The HR planning, the start of the strategy, illustrates the process of developing human resource plan. The strengths and weaknesses of staffing options such as outsourcing, use of contingent workers, and downsizing are involved in planning. The recruitment process is done strategically to determine the talented employee fit for the position. The selection method standards such as validity and reliability are utilized.

Beyond the human resource strategies are the rewarding and compensating that can strengthen or weaken the employee effectiveness. In order to give recognition and increase motivational levels amongst the employees, some Banks linked the individual performance in an incentive scheme — or for some rewards that may come into any form. In summary, all of the HRM strategies and function should be aligned to help the company meet its objectives — as well as focusing on their customers.

The high performance HR practices foster innovation through the development of innovation values, encouraging of information sharing, goal setting and appropriate training and development. Job analysis is the process of studying and collecting information relating to operations and responsibilities of a specific job.

It can be explained with the help of the following diagram 3. Organizational structure and design:- Job analysis helps the organization to make suitable changes in the organizational structure, so that it matches the needs and requirements of the organization.

Duties are either added or deleted from the job. Recruitment and selection:- Job analysis helps to plan for the future human resource. It helps to recruit and select the right kind of people. It provides information necessary to select the right person.

Training is given in those areas which will help to improve the performance on the job. Similarly when appraisal is conducted we check whether the employee is able to work in a manner in which we require him to do the job. Job evaluation:- Job evaluation refers to studying in detail the job performance by all individual. The difficulty levels, skills required and on that basis the salary is fixed. Information regarding qualities required, skilled levels, difficulty levels is obtained from job analysis.

Promotions and transfer:- When we give a promotion to an employee we need to promote him on the basis of the skill and talent required for the future job. Similarly when we transfer an employee to another branch the job must be very similar to what he has done before.

To take these decisions we collect information from job analysis. This is done to prevent the employee from leaving the company. When we plan the future career of the employee, information will be collected from job analysis. Hence job analysis becomes important or advantageous. Labour relations:- When companies plan to add extra duties or delete certain duties from a job, they require the help of job analysis, when this activity is systematically done using job analysis the number of problems with union members reduce and labour relations improve.

Health and safety:- Most companies prepare their own health and safety, plans and programs based on job analysis. Methods of job analysis Def: - A job is defined as a collection of duties and responsibilities which are given together to an individual employee. There are different methods used by organization to collect information and conduct the job analysis.

These methods are 1. Personal observation:- In this method the observer actually observes the concerned worker. He makes a list of all the duties performed by the worker and the qualities required to perform those duties based on the information collected, job analysis is prepared.

Actual performance of the job:- In this method the observer who is in charge of preparing the job analysis actually does the work himself. This gives him an idea of the skill required, the difficulty level of the job, the efforts required etc. Interview method:- In this method an interview of the employee is conducted.

A group of experts conduct the interview. They ask questions about the job, skilled levels, and difficulty levels. They question and cross question and collect information and based on this information job analysis is prepared.

Critical incident method:- In this method the employee is asked to write one or more critical incident that has taken place on the job. The incident will give an idea about the problem, how it was handled, qualities required and difficulty levels etc.

A critical means important and incident means anything which takes place in the job 5. Questioner method: - In this method a questioner is provided to the employee and they are asked to answer the questions in it. The questions may be multiple choice questions or open ended questions. The questions decide how exactly the job analysis will be done.

The method is effective because people would think twice before putting anything in writing. Log records:- Companies can ask employees to maintain log records and job analysis can be done on the basis of information collected from the log record.

The records are extensive as well as exhausted in nature and provide a fair idea about the duties and responsibilities in any job. The record contain details about educational qualification, name of the job, number of years of experience, duties handled, any mistakes committed in the past and actions taken, number of promotions received, area of work, core competency area, etc. Job design Definitions: - Job design is the process of a Deciding the contents of the job.

Job analysis helps to develop job design and job design matches the requirements of the job with the human qualities required to do the job. Factors affecting job design: - There are various factors which affect job design in the company. Factors affecting job design 1. Organizational factors 2. Environmental factors 3.

Behavioural factors I] Organizational factors:- Organizational factors to refer to factors inside the organization which affect job design they are a Task characteristics:- Task characteristics refer to features of the job that is depending on the type of job and the duties involved in it the organization will decide, how the job design must be done.

In case the company wishes it could combine similar job and give it to one person this can be done if all the jobs come one after the other in a sequence. Although the job may be the same the method of doing the job differs from company to company. This is called work practice and it affects job design. II] Environmental factors:- Environmental factors which affect job design are as follows a Employee availability and ability:- Certain countries face the problem of lack of skilled labour.

They are not able to get employees with specific education levels for jobs and have to depend on other countries due to this job design gets affected. This applies to every country and therefore job design will change accordingly. III] Behavioral factors:- Job design is affected by behavioral factors also. These factors are a Feedback: - Job design is normally prepared on the basis of job analysis and job analysis requires employee feedback based on this employee feedback all other activities take place.

This in turn affects job deign. This is called autonomy. Thus when we prepare a job design we must see to it that certain amount of autonomy is provided to the worker so that he carries his job effectively. This leads to lack of interest and carelessness on the job.

Therefore, while preparing job design certain amount of variety must be provided to keep the person interested in the job. Methods of job design There are various methods in which job design can be carried out. These methods help to analysis the job, to design the contents of the and to decide how the job must be carried out.

Job rotation II. Job enlargement III. Job enrichment I. Job Rotation: - Job rotation involves shifting a person from one job to another, so that he is able to understand and learn what each job involves. The company tracks his performance on every job and decides whether he can perform the job in an ideal manner. Based on this he is finally given a particular posting.

Job rotation is done to decide the final posting for the employee e. A is assigned to the marketing department whole he learns all the jobs to be performed for marketing at his level in the organization. He is finally placed in the department in which he shows the best performance Job rotation gives an idea about the jobs to be performed at every level. Avoids monopoly:-Job rotation helps to avoid monopoly of job and enable the employee to learn new things and therefore enjoy his job ii.

Avoiding fraudulent practice:-In an organization like bank jobs rotation is undertaken to prevent employees from doing any kind of fraud i. Disadvantages of Job Rotation i. Frequent interruption:- Job rotation result in frequent interruption of work. A person who is doing a particular job and gets it comfortable suddenly finds himself shifted to another job or department.

Reduces uniformity in quality :- Quality of work done by a trained worker is different from that of a new worker. Misunderstanding with the union member:- Sometimes job rotation may lead to misunderstanding with members of the union. The union might think that employees are being harassed and more work is being taken from them. In reality this is not the case. Job enlargement involves combining various activities at the same level in the organization and adding them to the existing job.

It increases the scope of the job. It is also called the horizontal expansion of job activities. Jon enlargement can be explained with the help of the following example - If Mr. A is working as an executive with a company and is currently performing 3 activities on his job after job enlargement or through job enlargement we add 4 more activities to the existing job so now Mr.

A performs 7 activities on the job. It must be noted that the new activities which have been added should belong to the same hierarchy level in the organization. Job enlargement is also essential when policies like VRS are implemented in the company.

Advantages of job enlargement 1. Variety of skills:- Job enlargement helps the organization to improve and increase the skills of the employee due to organization as well as the individual benefit. Improves earning capacity:- Due to job enlargement the person learns many new activities. When such people apply for jobs to other companies they can bargain for more salary.

Wide range of activities:- Job enlargement provides wide range of activities for employees. This reduces the salary bill for the company. Disadvantages of job enlargement 1.

Increases work burden:- Job enlargement increases the work of the employee and not every company provides incentives and extra salary for extra work. Therefore the efforts of the individual may remain unrecognized. Problem with union members:- Many union members may misunderstand job enlargement as exploitation of worker and may take objection to it. Job enrichment: - Job enrichment is a term given by Fedric Herzberg.

According to him a few motivators are added to a job to make it more rewarding, challenging and interesting. According to Hertzberg the motivating factors enrich the job and improve performance. In other words we can say that job enrichment is a method of adding some motivating factors to an existing job to make it more interesting. The motivating factors can be a.

Giving more freedom. Encouraging participation. Giving employees the freedom to select the method of working. Allowing employees to select the place at which they would like to work. Allowing workers to select the tools that they require on the job. Allowing workers to decide the layout of plant or office.

Job enrichment gives lot of freedom to the employee but at the same time increases the responsibility. Some workers are power and responsibility hungry. Job enrichment satisfies the needs of the employees. Advantages of job enrichment 1. Interesting and challenging job:- When a certain amount of power is given to employees it makes the job more challenging for them, we can say that job enrichment is a method of employee empowerment.

Identifies future managerial caliber: - When we provide decision making opportunities to employees, we can identify which employee is better that other in decision making and mark employees for future promotion. Identifies higher order needs of employees:- This method identifies higher order needs of the employee. These needs can be achieved through job enrichment.

Reduces work load of superiors:- Job enrichment reduces the work load of senior staff. When decisions are taken by juniors the seniors work load is reduced. Disadvantages of job enrichment 1. Job enrichment is based on the assumptions that workers have complete knowledge to take decisions and they have the right attitude. In reality this might not be the case due to which there can be problems in working.

Job enrichment has negative implications i. Along with usual work decision making work is also given to the employees and not many may be comfortable with this. This might lead to ego problems. This method will only work in certain situations. Some jobs already give a lot of freedom and responsibility; this method will not work for such jobs. Some people are internally dissatisfied with the organization.

This includes: a Developing application blanks. This function includes: a Counseling the concerned managers regarding the placements. It includes: A. Internal mobility- Vertical, horizontal transfers, promotions and demotion.

Transfer- Process of placing employees in the same level jobs where they can be utilized more effectively as per the needs of the organization. Demotion- It is the downward assignment of an employee in an organization. Compensation Compensation includes all the extrinsic rewards that an employee receives during and after the course of his sob. For his contributions to the organization. The principles of compensation payment are that it has to be adequate, equitable and fair to the employees.

Compensation encompasses base salary, incentives, bonus and benefits and is based on job evaluation. Job evaluation- It is a systematic determination of the value of each job in relation to other jobs in the organization, in the industry and in the market. In other words, job evaluation involves classifying a job based on its importance and its contribution to the organization and its requirements. Wage and salary administration - The process of formulating and operating a suitable wage and salary program is known as wage and salary administration.

In India, the payment of bonus is a very popular means of rewarding employees and is governed by The Payment of Bonus Act Fringe benefits — Fringe benefits are those monetary and non-monetary benefits given to employees during their employment, and sometimes, in the post-employment period also.

These benefits provide a sense of security to the employee and keep them committed to the organization. Compensations and Benefits: Bank provide compensations to its employees in shape of Cost of any medical Treatment, Cancelled Holidays fees, Repair of vehicle, any injury while doing job tasks and some other.

Employees can claim their compensation if any above case occurs. Benefits which are provided by Banks are Paid time off, Retirement, Disability Insurance, Education and training programs.

Retirement benefits are in shape of pension, gratuity, provident fund and superannuation fund. Basically they are all interactions between human beings. Hence Human Resources Management functions will center on: 1. Motivating all employees. Promoting employee morale. Developing communication skills.

Developing leadership skills. Redressing satisfactorily through a well-defined grievance procedure. What is little known but of greater importance is that each of these banks follows very distinct HR practices which have contributed, substantially, to the business processes.

This is, perhaps, one reason why the cooperatives are unable to improve themselves. Possibly there are as many pay structures as there are employees. There are no routine transfers. These institutions adopt a proactive performance appraisal system but still short of Degree appraisals. It should, however be said that the demand for professionals on account of growth of Indian Business is such that the efforts of HRM have not helped it from completely staving off staff turnover in the ranks.

This makes the career path of each employee the responsibility of the organization. This also underlies a belief that anyone can occupy any desk. In such a system specialization is the loser.

Increments are earned automatically. Transfers are not driven by business requirements but a matter of routine. The concept of job rotation is practiced with great conviction. In the circumstances an important task at hand is training the staff member, who, on account of age profile is not comfortable working in an IT environment.

HRM should also take immediate steps to improve productivity. There is a simultaneous need to balance the demand of IT savvy youngsters joining the organization who ask for high salaries. PSU Banks are not able to offer market driven salary. Till that happens, HRM should, innovatively tackle the issue.

Batstone, They have been regarded as an overhead rather than a resource.