Business factors that underpin human resource planning in the organization

 

Human resource planning is a concept that is traditionally used by the organizations and it is used by the organizations to recruit or select the right person at right time to the job. In traditional methods the human resource planning is only concern to short term and the it was highly dictated the line management. But due to the increase in the demographic, environmental instability, dynamic changes in technology high international competition have make a greater impact on the human resource planning. The planning of the human resource explains the interaction of the human resource planners or the top managers with the line managers (Jackson, 1990).As for the company NDB the top management is interact with the line managers or the front line managers. By interacting or cascading the power to the lower level employees’ innovative business methods will evolve and the employees will also motivate to do their job perfect as much as possible. Organizations should be realizing that the human resource planning is an important factor the yield the business, and also n recent the business take this factor into consideration and they addressing the human resource that is needed to the organization, they have developed short term as well as long term solutions to maintain a proper human resource within the organization (Jackson, 1990). The human resource planner is a separate job of an organization and the particular person go through different business researches and identify the best related solution that can be installed according to the prevailing business situation. They will fulfill the needs of the organization regarding the human resource and also they will influence on the direction of the company too.

In the recent years the global business takes into the consideration of the human resource planning to the future of the organization. Where the factors that will affect the human resource planning of the companies throughout the globe. There are two factors that will affect the human resource planning of an organization, these factors can be divided as the external business factors and the internal business factors which will affect the human resource planning of the company NDB (Young Mok, 2014). Some of the external and internal factors which will affect the company NDB are as follows,

· Labor cost assist to the organization

· How to increase the efficiency the productivity of the company?

· Development regarding the employees

· Disciple in the organization

· Growth of the business

· Changes within the business

NDB is a leading financial company in srilanka where the internal business factors such as growth of the business will lead to maintain a proper human resource plan within the organization. This will be processed as if the company is growing their business the management will tends to implement innovative human resource plans to the available and potential human resource of the company to achieve the goals and the objectives of the organization. This will include the recruiting a new person to the organization or training the existing employee up to the required standards; there are several advantages and disadvantages of recruiting a new employee and retaining the existing employees within the company. The new employees will bring new blood to the organization and the existing employees will know how to work and they do not needed induction but the new recruiters needed a proper induction and training. And also when regarding to the recent situation of covid 19 NDB has gone under a different plan to maintain their liquidity. They have cut down HR related expenses and downsizing of the staff. And also the company have make changes in their HR policies to adapt to the new human resource planning methods, they tends to control the cost of labor regarding their business practices in bad times to the company. They are into the efficiency of the labor, labor productivity, management pf the payroll costs, labor related costs. Human resource planning will also have affected by the external business factors like technological factors, while technology is a highly dynamic factor when regarding to the organization, technology should be updated by the companies to deliver a valuable output to the customers so the company NDB is playing a huge role in terms of introducing the latest technology to their customers and achieve the goals and objectives of the organization.

Referances

Aruna. (2019). researchgate. Retrieved 04 21, 2023, from https://www.researchgate.net/publication/333760163_The_Impact_of_Training_on_Employees_Performance_in_Banking_Sector_With_Special_Reference_to_Bank_of_Ceylon_in_Sri_Lanka

ndbbank. (2017). Retrieved 04 28, 2023, from https://www.ndbbank.com/annual-report/2017/management-discussion-and-analysis.humcap#:~:text=OUR%20APPROACH%20TO%20HUMAN%20CAPITAL%20MANAGEMENT&text=Employees%20are%20also%20governed%20by,conflicts%20of%20interest%20among%20others

indeed. (2022). Retrieved 04 26, 2023, from https://www.indeed.com/career-advice/career-development/mechanistic-organization#:~:text=A%20mechanistic%20organization%20is%20an,of%20command%20manages%20business%20operations

Employee engagement in the Banking Sectors

 

Employee engagement makes workforce actively engaged in work. It also uplifts employee morale and improves the innovative capabilities of employees.  Keeping employees engaged is equally important to all industries. It is because your employees’ engagement ensures that they work to the best of their abilities. Employee engagement has become one of the most important priorities for human resource managers in all businesses. (getbravo, 2020)

The Importance of Employee Engagement in the Banking Industry

There are several reasons why employee engagement is important in any industry and organization. But with a high rate of attrition and disengaged employees, it becomes a necessity in the banking sector. Let’s look at a few of the reasons why banks can benefit from having an employee engagement strategy: 

Teams can go from being good to exceptional when employees are fully engaged.

Employees that are engaged are more likely to stick with their current employer. They commit themselves to the development and success of the company's bottom line while also becoming advocates for the bank’s services.

They tend to perform better and are self-motivated.

Profitability and employee engagement are strongly correlated.

Engagement fosters an emotional bond between employees and their employers, which raises customer satisfaction and service standards.

Increases employees' trust and loyalty in the cutthroat banking industry

It transforms your workplace into a vibrant and exciting place to work.

An employee that is highly engaged will consistently go above and beyond.

Employee Engagement in NDB Bank

NDB believe in fostering an open culture, where employees are encouraged to put forward their suggestions on improving the organization. Our open culture is reflected by the high level of engagement we maintain with employees, facilitated by numerous formal and informal mechanisms. These include, performance appraisals, multi-level staff meetings, cross functional team engagement and a year-round calendar of sports and cultural events. All employees are encouraged to engage with senior management through regular Town Hall meetings and multi-level staff meetings. The CEO also communicates with employees through email and shares important news, achievements and strategic changes of the Bank. The Bank regularly conducts Q&A sessions, where employees are given the opportunity to voice any concerns regarding a process, policy or practice in place at the Bank.

Recreational events are organized by the NDB Staff Recreational Club (NDBSRC) and include multi-religion celebrations, staff trips including families, NDB kiddies party and the annual NDB dinner dance. The annual trip, NDB annual dinner dance and the NDB kiddies’ party is open to family members of employees. This year, the NDBSRC went an extra mile and organized an overseas trip for the employees. Around 1800 – 2000 staff had the opportunity to select one destination out of 3 countries (Singapore, Malaysia and Thailand) to spend their weekend with their families. The annual dinner dance this year was organized in a grand scale at the Shangri – La hotel, Colombo accommodating a total of 700 employees and their spouses. During the year, the Human Resources Department also organized logistics for the staff to view the Nawam Maha Perahera of Gangaramaya Temple, within the comforts of the office premises.

To harness personal development which results in professional excellence, the Bank inaugurated the NDB Toastmasters club in 2013 and joined the Global Toastmasters fraternity. This has helped many to improve their oral communication while giving them confidence to participate in professional forums. The Bank shows recognition of employees for the special skills and commitment displayed in non – job related areas. Thus, annually a recognition programme is organized on a grand scale by the Human Resources Department to appreciate and reward the commitment shown by the NDBSRC members, NDB Toastmasters, our very own NDB “Skillart” music group and the talented photographers of the Bank. In the same programme, employees who represented the Bank in the mercantile arena and brought glory to the Bank through their achievements were also recognized. (ndbbank, 2017)

References

Anuradha. (2022, 04). researchgate. Retrieved 04 26, 2023, from https://www.researchgate.net/publication/360910108_EMPLOYEE_ENGAGEMENT_FRAMEWORK_EMPERICAL_EVIDANCE_FROM_BANKING_SECTOR_SRI_LANKA

getbravo. (2020). Retrieved 04 22, 2023, from https://getbravo.io/the-future-of-employee-engagement-in-the-banking-industry/

ndbbank. (2017). Retrieved 04 23, 2023, from ndbbank: https://www.ndbbank.com/annual-report/2017/management-discussion-and-analysis.humcap#:~:text=OUR%20APPROACH%20TO%20HUMAN%20CAPITAL%20MANAGEMENT&text=Employees%20are%20also%20governed%20by,conflicts%20of%20interest%20among%20others.

 

Gender Equality in the Banking Sectors

 

Gender equality is when people of all genders have equal rights, responsibilities and opportunities. Everyone is affected by gender inequality - women, men, Trans and gender diverse people, children and families. It impacts people of all ages and backgrounds. (vic.gov.au, 2023)

Based in Sri Lanka out of the 8.5 million economically active population, 72% are males and only 35% are females. Women constitute 52% of Sri Lanka’s population, but female representation in parliament is only 5.3%. The labor force participation of women as of 2021 is 33.6% of the total population.  (undp.org, 2023)

Based on the Hofstede’s Cultural Dimensions Theory, The masculinity vs. femininity dimension is also referred to as “tough vs. tender” and considers the preference of society for achievement, attitude toward sexuality equality, behaviour, etc.

• ·         Masculinity comes with the following characteristics: distinct gender roles, assertive, and concentrated on material achievements and wealth-building.
• ·         Femininity comes with the following characteristics: fluid gender roles, modest, nurturing, and concerned with the quality of life. (corporatefinanceinstitute, 2015)

The NDB Bank is an equal opportunity employer and does not practice any form of gender-based discrimination in recruitment, promotions and/or when determining remuneration. The overall female representation rate amounts to 39%, while female employees form over 30% of the senior management group and of the managerial and supervisory categories. The Leadership Team comprises 7 female members. In 2017, 47 employees took maternity leave while 97.8% of them returned to work upon completion of their leave, demonstrating the Bank’s commitment towards retaining females through flexible working arrangements that foster better work life balance. (ndbbank, 2017)

Referances

corporatefinanceinstitute. (2015). Retrieved 04 20, 2023, from https://corporatefinanceinstitute.com/resources/management/hofstedes-cultural-dimensions-theory/

ndbbank. (2017). Retrieved 04 24, 2023, from https://www.ndbbank.com/annual-report/2017/management-discussion-and-analysis.humcap#:~:text=OUR%20APPROACH%20TO%20HUMAN%20CAPITAL%20MANAGEMENT&text=Employees%20are%20also%20governed%20by,conflicts%20of%20interest%20among%20others.

undp.org. (2023). Retrieved 04 21, 2023, from https://www.undp.org/srilanka/gender-equality#:~:text=Sri%20Lanka%20has%20made%20significant,to%20suffer%20discrimination%20and%20violence.

vic.gov.au. (2023). Retrieved 04 26, 2023, from https://www.vic.gov.au/gender-equality-what-it-and-why-do-we-need-it

 

Recruitment Process in Human Resource Management in Banking Sectors

 

Recruitment is a core function of the Human Resource department. It is a process that involves everything from identifying, attracting, screening, shortlisting, interviewing, selecting, hiring, and onboarding employees.

The recruitment teams can be large or small depending on the size of an organization. However, in smaller organizations, recruitment is typically the responsibility of a recruiting manager.

Many organizations outsource their recruiting needs, while some companies rely exclusively on advertisements, job boards, and social media channels to recruit talent for new positions. Many companies of today use recruitment software to make their recruitment process more effective and efficient. (hrhelpboard, 2023)

6 Phases in a Recruitment Process

Identifying the Hiring Needs

Whether a job opening is newly formed or just vacated, organization cannot find what organization need if HR don’t know what organization need in the first place. So, HR recruitment process should start with identifying the vacancies that exist followed by analysing the job specifications including the knowledge, skills and experience needed for the role.

Factors That Influence Recruitment:

·         Size of the organization

·         Salary structure

·         Work culture and working condition within the organization

·         The growth rate of the organization

·         The current state of employment in the economy

Preparing the Job Description

Once you know exactly what organization need in terms of knowledge, skills and experience, it is time to determine the duties and responsibilities of the job. Preparing a comprehensive job description will help you know what your potential employees must have in order to meet the demands of the role. More importantly, it provides your prospects with a checklist or a list that they can compare themselves to before applying. It is a tool to ensure that you get applications from the right candidates.

Talent Search

Identifying the right talent, attracting them and motivating them to apply are the most important aspects of the recruitment process. The job listing should be advertised internally to generate referrals as well as externally on popular social networking sites and preferred job boards. Recruiters can also conduct job fairs and promote openings in leading industry publications to cast a wider net. Broadly, there are two sources of recruitment that can be tapped for a talent search:

1. 1.      Internal Sources of Recruitment

When recruiters use internal sources for recruitment, it works to motivate the existing employees to be more productive and maximizes their job satisfaction and sense of security. Recruiting through internal sources also reduces the attrition rate along with cost and effort.

1. 2     External Sources of Recruitment

Recruiting through external sources offers a much wider scope for selection from a big number of qualified candidates. The process moves much faster even for bulk requirements while eliminating the chances of partiality or biases.

Screening and Shortlisting

In order to move forward with the recruitment process, HR needs to screen and shortlist applicants efficiently and accurately. This is where the recruitment process gets difficult and challenging.

Interviewing

The shortlisted applications will now move through the interview process prior to receiving an offer letter or a rejection note. Depending on the size of the hiring team and their unique recruitment needs, several interviews may be scheduled for every candidate.

Evaluation and Offer of Employment

This is the final stage of the recruitment process. Organization should never take it for granted that the candidate will accept the organization offer. However, if the candidate has patiently completed all the paperwork and waited through the selection process, the odds of accepting the offer are high.

NDB is looking for different skills and talents of the employees in different departments. And also they are making some recruitment to select the best people needed to the company to achieve the goals by using them. The company is looking for qualified and well experienced work force to continue their expansion procedures. There are some skills and techniques that are needed by the employees to be selected to the certain business procedure, the skills and the ability of the employees will be depend on the training, making plans, organizing, designing and the implementation of the skill related activities.

NDB reputation as an employer of choice has enabled us to attract and retain top talent, despite the increasing competition for skills in the industry. During the year, we recruited 423 employees (excluding outsourced personnel) to support our ambitious growth aspirations. The Bank’s recruitment processes are guided by a recruitment policy that is transparent and leaves no room for any form of discrimination. In order to nurture a strong pipeline of talent, and improve retention, employees are encouraged to apply for internal vacancies as much as possible. During the year we promoted 36 employees in this manner. External recruitments happen primarily at entry level and mainly comprise school leavers (A/L Based), newly qualified professionals and/or university graduates. The Bank has partnered with several universities to attract newly qualified graduates of selected disciplines. (ndbbank, 2017)

References

hrhelpboard. (2023). Retrieved 04 22, 2023, from https://www.hrhelpboard.com/recruitment/recruitment-process.htm

jobsoid. (2022). Retrieved 04 27, 2023, from jobsoid: https://www.jobsoid.com/recruitment-process/

ndbbank. (2017). Retrieved 04 24, 2023, from https://www.ndbbank.com/annual-report/2017/management-discussion-and-analysis.humcap#:~:text=OUR%20APPROACH%20TO%20HUMAN%20CAPITAL%20MANAGEMENT&text=Employees%20are%20also%20governed%20by,conflicts%20of%20interest%20among%20others.

 

The impact of the organizational culture on the Human Resource Management in Banking Sectors

 

According to the Kotter john P. & Heskett, (1992) organizational culture is a concept that is practicing by the companies from the year of 90 s after the experience of scientific management, According to the Barney (1986); Kotter john P. & Heskett, (1992); Gordon & Tomaso,(1992)there might be two main branches for the research on the organization culture-,one on the measure of the organization research and the other on the relationship between the organization culture and corporate performance(Cui and Hu, 2012). Deshpande and Webster (1989, p. 4) stated that the “the pattern of shared values and beliefs that help individuals understand organizational functioning and thus provide them norms for behavior (our emphasis) in the organization”. Culture describes about the employees, customers, suppliers and all the internal external stake holders and also define how those firms will interact with these actors also. Future more the culture can be classified as a source of competitive advantage where the it will help the business to maintain the strategies efficiently and effectively(Slater, Olson and Finnegan, 2011).

Hofstede’s Cultural Dimensions Theory

Hofstede’s cultural dimensions theory is a framework for cross-cultural communication, developed by Geert Hofstede. It shows the effects of a society’s culture on the values of its members, and how these values relate to behavior, using a structure derived from factor analysis. (accounting, 2023)

Dimensions of national cultures:

Power distance index (PDI): The power distance index is defined as “the extent to which the less powerful members of organizations and institutions (like the family) accept and expect that power is distributed unequally”.

Individualism vs. collectivism (IDV): This index explores the “degree to which people in a society are integrated into groups”.

Uncertainty avoidance (UAI): The uncertainty avoidance index is defined as “a society’s tolerance for ambiguity”, in which people embrace or avert an event of something unexpected, unknown, or away from the status quo.

Masculinity vs. femininity (MAS): In this dimension, masculinity is defined as “a preference in society for achievement, heroism, assertiveness and material rewards for success”. Its counterpart represents “a preference for cooperation, modesty, caring for the weak and quality of life”.

Long-term orientation vs. short-term orientation (LTO): This dimension associates the connection of the past with the current and future actions/challenges. A poor country that is short-term oriented usually has little to no economic development, while long-term oriented countries continue to develop to a level of prosperity.

Indulgence vs. restraint ( IND ): This dimension refers to the degree of freedom that societal norms give to citizens in fulfilling their human desires. Indulgence is defined as “a society that allows relatively free gratification of basic and natural human desires related to enjoying life and having fun”. Its counterpart is defined as “a society that controls gratification of needs and regulates it by means of strict social norms”.

Organizational culture of the NDB bank defines the set of beliefs, traditions, customs and norms that organizational employees are expressing, NDB bank has different types of shared beliefs and values which have been converted into policies and practices within the organization. 

Decision making within the company will explains about the culture of the organization, centralization and decentralization of decision making the will express the culture of the organization. If the NDB bank conduct a centralized decision making system the decisions are taken by the few managers of the organization who are in the top chairs of the organization but if the ban conduct decentralized decision making all the line managers and the employees of the organization have a certain kind of autonomy or power to making a decision, therefor the organization culture of the organization will directly and indirectly affect to the human resource management of the organization NDB. 

Freedom of the employees at different levels and the management will also defines how will be the organizational culture impact on the human resource management, there are different levels of employees within an organization and the power of each level and the freedom the employees at each level will be different, if the freedom of the employees are same at every stage of the organization are having the same freedom the organization culture is in a better position and if not there are discrimination within the organization and it will leads to arise conflicts within the organization. 

Frankness on communication simply means the honesty or the openness to the communication which will affected by the organizational culture, if the employees are acting to be honesty and descent within the organization the it will be a huge impact to the organization goodwill therefore the organizational culture will effect on the frankness of the employees within the organization, the leadership styles that are been conducted by the managers will also result the organizational culture of the organization, whether the managers are employee oriented or task oriented will be depend on the organizational culture of the organization, if the organization practiced the manages to act solely on the work the manager will be task oriented and if the organization trained the managers to act fairly on people the managers will be people oriented.

References

accounting. (2023). Retrieved 04 26, 2023, from https://accounting.binus.ac.id/2021/11/15/hofstedes-cultural-dimensions-theory/#:~:text=Hofstede's%20cultural%20dimensions%20theory%20is,structure%20derived%20from%20factor%20analysis.

gothamculture. (2023). Retrieved 04 20, 2023, from https://gothamculture.com/what-is-organizational-culture-definition/

Harvard Business Review. (2013). Retrieved 04 20, 2023, from hbr.org: https://hbr.org/2013/05/what-is-organizational-culture

shrm. (2023). Retrieved 04 23, 2023, from https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/understanding-developing-organizational-culture.aspx#:~:text=An%20organization's%20culture%20defines%20the,employee%20perceptions%2C%20behaviors%20and%20understanding.

 

The Organizational Structure of Banking Sectors in Sri Lanka

 

A mechanistic organization is one that has a formal, hierarchical structure with clearly defined roles and responsibilities. It is highly structured and processes-oriented and is often contrasted with the organic organization that is much more flexible and adaptive.

The mechanistic organizational structure has been around for centuries and still remains popular today within certain kinds of organizations, for example in hospitals, banks, law firms, governments, and many types of educational facilities. (Bennett, 2023)

Chain of Command

In a mechanistic organization, each person within the organization has a clearly defined role to play and they report directly to their superior. There is no room for confusion or ambiguity; everyone knows exactly what is expected of them and who they are accountable to, and a strict chain of command is necessary.

Centralized Decision-Making

Because there is a distinct chain of command in place, decision-making within mechanistic organizations tends to be highly centralized. This means that all major decisions must go through the top levels of management before they can be put into action. It may seem limiting at first glance, but this top-down structure does have its advantages, allowing for better control over operations and more consistent results.

Fixed, Tall Structure

The structure of a typical mechanistic organization tends to be quite rigid, with each employee executing their assigned role with no room for deviation from the established protocols.

A fixed structure helps to ensure that all employees are working together towards the same goals, but it also means that there is little opportunity for innovative thinking or collaboration between departments, something that is (purposefully) lacking in mechanistic organizations.

Additionally, mechanistic organizations tend to have tall reporting hierarchies, meaning they have many layers of management and many levels of leadership.

Strict Reporting Hierarchy

Employees in a mechanistic organization will often report only to a single individual—their direct manager or supervisor—since having oganizational chart can sometimes lead to miscommunication and confusion of responsibilities, something you don't want in an organization then needs to adhere to strict controls.

NDB is a leading financial company which conduct their operation s in srilanka and the organizational structure of the company will impose a huge impact on the management of the human resource factor within the company, NDB ban is existing their branches all over the country and the human resource is the main factor that the company management should be focus, if the human resource is not managed accordingly the organizational structure will be totally distorted, organizational structure of an organization emphasize the outline of the company and the activities that the company will be directing to achieve the goals and objectives of the organization. According to the Hall (1997) organization will be considered the anatomy of the organization, providing a foundation on the organizational structure and the organizational structure will be affect the behavior of the organizational members too(Dalton et al., 1980). (ndbbank, 2017)

The impact of a particular organizational structure defines the role of the human resource department, or the hierarchy of the organization will denote the organizational structure, if there is a well-organized hierarchy within the organization it can be affect to the management of the employees within the organization simply if the work of the organization is divided according to a method it will make ease of managing the human resource of an organization. According to the NDB bank the human resource department got a wide role of organizing and maintains the human resource of the company up to the standards.

Advantage of Mechanistic Structure Organization

The primary benefit of a mechanistic organization is that it is structured and efficient. The top-down approach of a mechanistic model allows leaders to easily identify roles and tasks while clearly defining expectations for each employee.

This structure also helps streamline decision-making processes and keeps everyone on task, allowing businesses to achieve their goals in a timely and predictable manner.

Mechanistic organizations help to promote clear communication between management and staff members. With an established hierarchy in place, everyone knows who is responsible for what—and who to go to with any questions or concerns. This makes it easier for employees to stay informed and make sure they’re doing their jobs correctly.

A mechanistic structure also encourages team collaboration, as managers can accurately track progress and give feedback more often than in a more loosely structured organization.

Finally, mechanistic organizations encourage increased accountability from both employees and managers alike. Since roles in a mechanistic organization are clearly defined, it’s easy to pinpoint where mistakes are being made if something goes wrong—which makes it easier for businesses to identify areas that need improvement or areas where additional resources may be necessary.

Additionally, since every team member is held accountable for their role in the organization’s success or failure, a mechanistic structure can create a strong sense of responsibility among employees which can lead to higher performance from every individual on the team.

Disadvantages of Mechanistic Organizations

Mechanistic organizations often suffer from poor communication between its departments. This is because each department usually has its own distinct goals and objectives that may not align perfectly with those of other departments. (indeed, 2022)

If this is the case, it means that important information may not be shared between the various departments in a company, which could lead to misunderstandings or conflicts down the line. Furthermore, if ideas from different departments aren’t heard or considered when making decisions it could lead to missed opportunities for growth and innovation.

Another issue with mechanistic organizations is their lack of flexibility. Because these types of organizations rely on detailed roles and processes that need to be followed exactly as prescribed, any changes or adaptations must go through a lengthy approval process before being implemented. This can lead to delays in responding to customer needs or market changes, plus a host of other potential issues.

Referances

Bennett. (2023, 01 10). Onedirectory. Retrieved 04 28, 2023, from onedirectory: https://www.onedirectory.com/blog/mechanistic-organizations/

indeed. (2022). Retrieved 04 26, 2023, from https://www.indeed.com/career-advice/career-development/mechanistic-organization#:~:text=A%20mechanistic%20organization%20is%20an,of%20command%20manages%20business%20operations.

ndbbank. (2017). Retrieved 04 28, 2023, from https://www.ndbbank.com/annual-report/2017/management-discussion-and-analysis.humcap#:~:text=OUR%20APPROACH%20TO%20HUMAN%20CAPITAL%20MANAGEMENT&text=Employees%20are%20also%20governed%20by,conflicts%20of%20interest%20among%20others.

 

Impact of Training and Development on Employees Performance in Banking Sectors

 

The training and development of employees is considered a critical part in human resource management in any organization, it gives motivation, purpose and the drive for the employees to move forward to improve their careers which in turn will benefit the organization. Training and development is required to improve employee enhancement, job knowledge, skills, employee capacity, ability and skills. Training and development has been contributed to achieve organizational goals, objectives and target and also it is helped to achieve the individual goals and objectives of the employee and moral within the particular organization. (hrhelpboard, 2023)

Nowadays nature of the working environment is changing because of the globalization, technology changes and change of economic environment change. So the organizations are facing more competition specially banking sectors have more competitors in their industry. So the employees need to adopt the new technology innovation and the employees’ wants to improve their employee’s performance. So the organization should provide better training to their employees. (Aruna, 2019)

Employee Performance

Employee performance is defined as how well a person executes their job duties and responsibilities. Many companies assess their employees’ performance on an annual or quarterly basis to define certain areas that need improvement and to encourage further success in areas that are meeting or exceeding expectations.

Assessment of employee performance can vary across industries, roles, and businesses, but a few general Key Performance Indicators (KPIs) include:

Sales revenue: How much revenue is the employee directly generating or indirectly influencing per quarter? This is particularly relevant for sales roles, where performance is often measured by the amount of revenue generated.

Customer satisfaction: What’s the level of customer satisfaction with the service or product provided by the employee? This can be measured through surveys or other feedback mechanisms.

Quality of work: How is the employee’s work quality compared to other employees? This includes measuring accuracy, attention to detail, and adherence to quality standards.

Attendance and punctuality: What’s the employee’s attendance and punctuality record? Obviously, an employee can’t be a good performer if they’re missing work or are regularly late.

Efficiency and productivity: How efficient and productive is the employee? This measures how well an employee completes tasks, plus the volume of work produced within a given time frame.

Time management: How well does the employee manage their time? Time management skills and an employee’s ability to efficiently prioritize tasks are vital to success – both for the employee and the organization.

Teamwork and collaboration: How well does the employee work with others? This KPI evaluates an employee’s ability to work collaboratively, communicate effectively, and contribute to team goals.(litmos, 2023)

Importance of Training and Development

Addressing Employee Weaknesses

Most employees have some weaknesses in their workplace skills. A training program allows you to strengthen those skills that each employee needs to improve. A development program brings all employees to a higher level so they all have similar skills and knowledge. This helps reduce any weak links within the company who rely heavily on others to complete basic work tasks.

Providing the necessary training creates an overall knowledgeable staff with employees who can take over for one another as needed, work on teams or work independently without constant help and supervision from others.

Improved Employee Performance

An employee who receives the necessary training is better able to perform her job. She becomes more aware of safety practices and proper procedures for basic tasks. The training may also build the employee's confidence because she has a stronger understanding of the industry and the responsibilities of her job. This confidence may push her to perform even better and think of new ideas that help her excel.

Continuous training also keeps the employees on the cutting edge of industry developments. Employees who are competent and on top of changing industry standards help your company hold a position as a leader and strong competitor within the industry.

Structured Training and Development

A structured training and development program ensures that employees have a consistent experience and background knowledge. The consistency is particularly relevant for the company's basic policies and procedures.

All employees need to be aware of the expectations and procedures within the company. This includes safety, discrimination and administrative tasks. Putting all employees through regular training in these areas ensures that all staff members at least have exposure to the information.

Employee Job Satisfaction

Employees with access to training and development programs have the advantage over employees in other companies who are left to seek out training opportunities on their own. The investment in training that a company makes shows the employees they are valued. The training creates a supportive workplace.

Employees may gain access to training they wouldn't have otherwise known about or sought out themselves. Employees who feel appreciated and challenged through training opportunities may feel more satisfaction toward their jobs.

Training and development is another kind of activity that the NDB bank undertakes in regarding establishing a better human resource management policy. NDB bank is making a carrier development plan to capture the next target of the company. The company wants to identify the employees and use the most suitable and needed training to the employees, it will enhance the skills and performance of the employees there are two kinds of training methods namely on the job training and off the job training, on the job training method explains about the training the employees while they are working this will help to improve the technical skills of the employees NDB bank is imposing the on the job training to their employees to get the required knowledge by the employee to perform his job correctly and identify what kind of job that he needs to perform. Off the job training explains the that the training that will conduct away from the physical workplace, this is done through seminars, role plays, presentations etc., NDB bank Is offering off the job training to their employees to educate them about the field and generate a further understand about the field that the employee is into. (ndbbank, 2017)

References

Aruna. (2019). researchgate. Retrieved 04 21, 2023, from https://www.researchgate.net/publication/333760163_The_Impact_of_Training_on_Employees_Performance_in_Banking_Sector_With_Special_Reference_to_Bank_of_Ceylon_in_Sri_Lanka

hrhelpboard. (2023). Retrieved 04 23, 2023, from hrhelpboard: https://www.hrhelpboard.com/training-development.htm

litmos. (2023). Retrieved 04 28, 2023, from litmos: https://www.litmos.com/platform/define-what-is-employee-performance

ndbbank. (2017). Retrieved 04 25, 2023, from https://www.ndbbank.com/annual-report/2017/management-discussion-and-analysis.humcap#:~:text=OUR%20APPROACH%20TO%20HUMAN%20CAPITAL%20MANAGEMENT&text=Employees%20are%20also%20governed%20by,conflicts%20of%20interest%20among%20others.