This document provides an overview of HR practices in banking and insurance sectors in India. It discusses HR practices at Bank of Baroda, a major public sector bank, and HDFC Standard Life Insurance, a private life insurance company. Some key HR practices discussed include recruitment, training, performance appraisal, and employee engagement initiatives. The conclusion compares the HR approaches between the two organizations and provides some suggestions.

1. PRESENTATION
ON
HR PRACTICES
WITH RESPEST TO: SUBMITTED BY:-
LAKSHMI.YADHAV
ANURADHA.MUKKU
HEMANGI.BHISE
REETI.SINGH

2. INTRODUCTION
 HRM is that it is the process of managing people in organizations in a
structured and thorough manner.
 Human resource management in banking and insurance concentrates
on building employee capabilities. Employee capabilities serve as the
trigger and create growth opportunities for the organization.
 Service sectors like banks and insurance are entirely dependent on
the knowledge, expertise, skills, attitudes and quality of human
resources for growth and success. Hence effective management of
human resources is extremely critical in banks and insurance
companies.

3. DEFINITION
Wendell French describes human
resources management as “the philosophy,
policies, procedures, and practices related to
the management of people within the
organization.”

4. HR PRACTICES
 Human Resource Planning
 Organizational and job design
 Staffing
 Training and Development
 Performance appraisal and Review
 Compensation and Reward
 Maintaining Effective Employer- Employee Relationship
 Healthy & Management
 Employee Participation
 Organization Improvement

5. HUMAN RESOURCE MANAGEMENT
IN BANKS
 HRM IN CO-OPERATIVE BANKS:-
It is said that the HR policies of cooperative
banks are totally dominated by the Registrar of
Cooperatives. This is, perhaps, one reason why the
cooperatives are unable to improve themselves.
 HRM IN REGIONAL RURAL BANKS (RRBS):-
As regards RRBs, most of them adopt the HR
policies of sponsor banks, which are not appropriate for
their special nature.

6. CONT…….
 HRM IN PUBLIC SECTOR BANKS:-
In the recent times, the contours of HR function in public
sector banks are slowly but definitely changing- since 70s- Public Sector
Banks (PSBs) have adopted HRM practices similar to that of Government
departments. Herein HRM did not have a direct role in business
development but was more concerned with centralized recruitment to staff
& providing them across the country.
 HRM IN PRIVATE BANKS & FOREIGN BANKS:-
The HR function as practiced by private & foreign banks is
effectively involved in the identification of specific skills that each job
warrants & recruiting suitable staff by every way possible.

7. BANK OF BARODA
 Bank of Baroda is the highest profit-making public sector
undertaking (PSU) bank in India and the second largest PSU
bank in terms of number of total business in India.
 The Maharaja of Baroda, H. H. Sir Sayajirao Gaekwad III
founded the bank on 20 July 1908.
 It was nationalized on 19 July 1969, by GOI.
 4168 branches in India
 2000 ATMs.
 A headquarter is in Vadodara
 A corporate headquarter is in Bandra-Kurla complex
Mumbai.

8. HR OBJECTIVES
To initiate & institutionalize
To undertake organizational renewal
To create performance-driven culture
To create business leaders
To build sales and service culture
To create learning organization

9. HR PRACTICES OF BOB
Recruitment and Selection
Training and Development
Performance Appraisal
 Employee Involvement and Job Security
Employee relations:

10. HDFC STANDARD LIFE INSURANCE
 HDFC Life (HDFC Standard Life Insurance Company) is
an Indian private life insurance company. It is a joint
venture between Housing Development Finance
Corporation Ltd (HDFC) and Standard Life provider of
financial services in the UK. It was established after
private companies were allowed to enter the insurance
industry in the year 2000.
 HDFC is 33 year old while Standard life is 185 year of
experience of insurance industry.

11. OBJECTIVES
 Managing people to succeed in today‟s highly
competitive global environment is important.
 HDFC Standard Life is ethical and honest in the
way it runs its business.

12. HR PRACTICES
Recruitment
Selection
Motivation
Training and Development
Re-Hiring policy
GOAL(Go online and Learn)
SPARSH
Mission in Genius
Fun Time

13. Recruitment
 Advertisements – Newspapers , Magazines
 Campus recruitment
 Job portals
 E-Recruitment
 Employee referral

14. SELECTION PROCESS
 Aptitude Test
 IRDA Exam
 Face to face interview
 Medical Examination
 Background
 Offer Letter

15.  Job Promotion
 Achieving Targets
 Holiday Tour
 Gift Voucher
 Feed back

16. TRAINING AND DEVELOPMENT
• Conducting Induction program regarding the Vision and
Mission of financial Institution
• Basic level orientation programmes
• Talent identification and grooming programmes.
• Provide Training on insurance products

17. • HDFC Life has a policy on re-hiring candidates who
have previously worked with HDFC Life in any role
or Department.
• As per the policy, the concerned candidate should have
a minimum cooling period of six months from his
previous stint with HDFC Life before being re-hired.

18. GOAL
(Go online and Learn)
 Access to GOAL is provided also to prospective
employees before joining the organization to make them
feel integrated. Also, a critical piece of the entire
welcoming process is a formal employee feedback
process that happens once in six months for all the
new joinees.

19. SPARSH
 To encourage open communication,'Sparsh' is an
employee communication program at HDFC Life
Insurance. It is a town hall activity conducted
annually companywide in the months of November
and December.

20. MISSION IN GENIUS
 In 2006, HDFC Life initiated a self-learning tool
for its employees, “Mission in Genius”.
 It is acknowledge enhancement initiative that
engages employees through continuously learning and
upgrades their knowledge on the life insurance
industry

21. FUN TIME
 As a part of their policy of celebrating good times,
at the beginning of every financial year, the fun
club prepares a theme calendar. The theme of the
month depends on the
 Festival/occasion falling in the month. For example,
in August 2011, the theme was „Express Gratitude'.

22. CONCLUSION
 BANK OF BARODA – an International bank of India. As the tag line of the
bank suggests it is the bank which has stepped in the global market and has left
its foot prints everywhere.
 Bank of Baroda is an organization which had believed in the saving that every
one has to change with the time.
 BOB has always provided the good services and hospitality to its customers the
all branched have been applied with core banking services.
 The employees involve themselves in work and are ready to share
responsibilities in the HDFC LIFE.
 Seniors guide their juniors and prepare them for the future responsibilities
/roles they are likely to take them up.
 Officers in the HDFC LIFE believe that employee behavior can be changed and
people can be developed at any stage of their life.

23. SUGGESTIONS
 BOB needs to increase its number of ATMs in the country. Especially in
metropolitan cities. This is because today people don‟t like standing in queues
for withdrawing money.
 Bank of Baroda did very well when Rahul Dravid was endorsed as its brand
ambassadors. Today BOB has no ambassadors. Therefore it should endorse
someone as their icon.
 The personnel policies regarding placement, promotion, training and development
have to be implemented in a flexible manner.
 The management of HDFC SL should predict the future challenges and plan the
strategy to meet them. This helps the clerical level employees to know their role
and responsibility to meet the future challenges.
 After training programme the feedback must be given to the employee at the
earliest possible time, so that the employee can grow in his strengths, get over his
weaknesses, utilize the opportunities and minimize the threats that undermine
their growth.