Human resource practices in public and private banks : A study of employee opinions and experiences

Abstract

Human resource management is being acknowledged as an important factor in the success of organisations and the quality of services provided in the dynamic Indian banking industry of today. With an emphasis on employees' perspectives and real-life experiences, this research examines HR policies and procedures at a subset of India's public and private sector banks. Workers' opinions matter greatly for gauging the success of policies, procedures, and organisational structures in the service sector since they constitute the foundation of the business. The primary objective of this study is to compare and contrast the public and private sectors' approaches to human resource management in terms of strategy, messaging, and execution. Relatedly, we want to find out how workers feel about the company's methods of hiring and staffing, as well as their prospects for professional growth, performance reviews, pay rates, advancement opportunities, and benefits. The comparison of HR procedures in the two industries is another target. In contrast to the highly competitive, market-oriented setting in which private banks operate, public sector banks are often subject to rules imposed by the government. One hundred and twenty-five workers from different public and private bank branches in India were asked to fill out a structured questionnaire in order to gather primary data. Workers at these financial institutions praised stability but voiced annoyance with bureaucratic red tape, lack of flexibility, and sluggish adoption of new procedures. Private banks, on the other hand, placed a premium on training programs, professional advancement prospects, and performance reviews based on actual performance. On the other hand, private bank workers often complained about long hours, stress, and difficulties striking a balance between work and personal life. HR strategies have a substantial impact on employee dedication and how they view the organization's success, according to SEM results.