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Talent Management Practices in Banking Sector

This document discusses talent management practices in the Indian banking sector. It outlines the current scenario of rapid globalization and competition in Indian banking. It then describes the various types of banks in the Indian system. The document notes that a 2007 McKinsey report found that Indian banks severely lack superior talent and new-age leaders. It examines some current talent management practices in banks, such as a lack of succession planning. It also lists some levers for improving talent management practices, such as aligning talent strategy with business strategy. Finally, it provides some case studies of specific banks' talent management approaches.

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Mausmi Khanpara
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268 views23 pages

Talent Management Practices in Banking Sector

This document discusses talent management practices in the Indian banking sector. It outlines the current scenario of rapid globalization and competition in Indian banking. It then describes the various types of banks in the Indian system. The document notes that a 2007 McKinsey report found that Indian banks severely lack superior talent and new-age leaders. It examines some current talent management practices in banks, such as a lack of succession planning. It also lists some levers for improving talent management practices, such as aligning talent strategy with business strategy. Finally, it provides some case studies of specific banks' talent management approaches.

Uploaded by

Mausmi Khanpara
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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Talent Management

Practices in Banking Sector

Presented By:
Vinaya Gedam 34277
Priyanka Pandey 34288
Shraddha Pathare 34289
Sphurthi Potturi 34290
Outline
 Indian Banking : Current Scenario
 Banking System
 Current Practices of Talent Management
 Levers of Change
 Examples
 Case Studies
Indian Banking – Current Scenario
 Rapidly Globalizing
 Very Competitive Environment
 More demanding & sincere
Customers
 IT-enabled growth
Indian Banking System

Commercial
Banks

Co-operative
Public Sector Private Banks Foreign Banks
Banks

Urban State Central


Cooperative Cooperative Cooperative
Talent Management: Implications
“Indian Banking: Towards Global Best Practices” by McKinsey &
Company and Indian Banks Association, Nov 2007:

“ The survey shows that the severe lack of superior talent ad


new-age leaders is acute and crippling for Indian banks. They
need to act urgently to attract, hire, develop and retain the
best available talent to ensure sustained growth in the long
term”
Current Practices in Talent Management

A wide range of talent management practices are only


“partly in place” at most banks
Source: McKinsey & Company and India Banks Association, Nov 2007
Current Practices in Talent Management

Banks depend heavily on internal talent and


lack succession planning capabilities
Banks have limited ability to rely on talent pipeline

Source: McKinsey & Company and India Banks Association, Nov 2007
Current Practices in Talent Management

Banks are under-developing high-performing talent, creating


severe threats to retention of key-personnel and longer-term
productivity
High Potential Employee

Source : The Corporate Council’s Leadership Model of Employee Potential, 2008


Source: McKinsey & Company and India Banks Association, Nov 2007
Levers of Change for Talent Management

 Talent strategy aligned with Business Strategy of banks


 Efforts towards building strong Talent Pipeline to fill
Leadership positions
 Invest in the “Best”
 Accountability Building practices
 SAP ERP HRM

Source : Development Dimensions International Inc Survey of Indian Banks, April 2008
Examples:
Grooming Leaders for Adaptive Challenges:
The ICICI Way
 Chanda Kochar- From Trainee to CEO
 ICICI DNA
 Group Mentoring versus Individual Mentoring
 Talent Building: Action-Behaviour-Consequence model
o Junior Level: Consistent Passion
o Middle Level: Ability to build capability internally
o Senior Level: Agenda for change
Productive Work Environment-
Reserve Bank of India

 Major Issue: Lack of Compensation


 Turning Constraints into Opportunities
 Loyalty Contract versus Psychological Contract
 Talent Management Models
(i) Talent based on stellar performers
(ii) Talent based on robust systems
Managing Talent: Canara Bank

“Treat people as if they were what they ought to be,


and you help them become what they are capable of
being”

• Employee rewards and recognition beyond


compensation and benefits
• HRM policies in line with the needs of the present
and the expectations of the future.
• 2020 club
Leading The Way Through:
Standard Chartered
‘Leading by Example to be The Right Partner’

 Five values – Creative, Responsive, International, Courageous


and Trustworthy
 ‘Strengths-based’ philosophy: Online Self Assessment
 Focus on executive development and internal Core Programs
 Employee Engagement= Strong People Managers
Case Studies:
Project Parivartan: State Bank of India

The success of the Bank's transformation depends crucially on its


people."
OP Bhatt, Chairman, State Bank of India, in 2007

• Issue: Competition from Private Players-Talent Retention


• Agenda: Total Transformation- Parivartan Internal
Communication Initiative
Human Capital Initiatives: Yes bank

Issues:
• Differentiating itself from its competitors
• Start-up Organization
Agenda:
• ‘Knowledge banking' approach
• Emphasis on human capital
• Projecting itself as an 'aspirational' employer in the Indian
banking sector
• Innovative HR initiatives
Thank You

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