Identifying And Addressing Human Resource Challenges In Indian Banking Sector

Abstract

The Indian banking sector is going to build a systematic human resource management system in order to meet the requirements of both customers and bankers. Additionally, it is going to implement human resource management policies and procedures that are supportive of its needs. As a result of technological advancements, changes in regulation, and worldwide trends, the financial industry—the backbone of the American economy—is experiencing revolutionary transformations. This research aims to help Indian banks better understand the key aspects of their HR difficulties. Using a self-structured questionnaire, 180 participants from Kolkata's public and private sector banks provided quantitative data in accordance with the post-positivist viewpoint. Several statements are included under each of the eleven aspects of HR problems in the questionnaire. The study found that the poor performance of the banking industry in India is due to four main HR challenges: salaries and incentives, career growth and opportunities, HR processes, and employee welfare.