Talent Management Practices in Banking Sector Presented By: Vinaya Gedam 34277 Priyanka Pandey 34288 Shraddha Pathare 34289 Sphurthi Potturi 34290
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Talent Management
Practices in Banking Sector
Presented By:
Vinaya Gedam 34277
Priyanka Pandey 34288
Shraddha Pathare 34289
Sphurthi Potturi 34290
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Outline
Indian Banking : Current Scenario
Banking System
Current Practices of Talent Management
Levers of Change
Examples
Case Studies
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Indian Banking – Current Scenario
Rapidly Globalizing
Very Competitive Environment
More demanding & sincere
Customers
IT-enabled growth
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Indian Banking System
Commercial
Banks
Public Sector Private Banks Foreign BanksCo-operative
Banks
UrbanCooperative
StateCooperative
CentralCooperative
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Talent Management: Implications
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“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”
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A wide range of talent management practices are only
“partly in place” at most banks
Current Practices in Talent Management
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Banks depend heavily on internal talent andlack succession planning capabilities
Current Practices in Talent Management
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Banks have limited ability to rely on talent pipeline
Source: McKinsey & Company and India Banks Association, Nov 2007
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Banks are under-developing high-performing talent, creatingsevere threats to retention of key-personnel and longer-term
productivity
Current Practices in Talent Management
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High Potential Employee
Source : The Corporate Council’s Leadership Model of Employee Potential, 2008
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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
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Examples:
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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
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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
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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
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Leading The Way Through:
Standard Chartered‘Leading by Example to be The Right Partner’
Five values – Creative, Responsive, International, Courageousand Trustworthy
‘Strengths-based’ philosophy: Online Self Assessment
Focus on executive development and internal Core Programs
Employee Engagement= Strong People Managers
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Case Studies:
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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
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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
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Thank You