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HR Analytics in Banking Sector

Submitted to:
Dr. Nandeesh Hiremath 
Prof. Muralidhar Deshpandey

Submitted by:
Ayushmita Dutta [FPBR2022/016]
Priyanka Sarkar [FPBR2022/017]
Anu Upadhyay [FPBR2022/035]
Satarupa Roy [FPBR2022/055]
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Introduction:

HR Analytics is viewed as a systematic procedure to understand and identify the relationship

amongst the HR interventions and organization's performance metrics like Sales or Profit. It

also provides meaningful insights for HR decisions which will affect the business strategies

and performance by use of statistical methods and experimental methodologies which are

based on efficiency and effectiveness metrics

HR Analytics aids a company to identify, measure and analyze how effective are the HR

practices and policies in terms of organizational performance and how they can influence the

business strategy. It is a very strong tool in the hands of HR Management so that they can add

value to the organization.

. The role of HR Analytics in Banking sector will be analysed using certain statistical tools on

data collected. The results can be used by banking organizations in order to discover answers

to questions relating identified human resource practices that will enhance managerial

decision making.

The advent and application of data analytics have helped the banking industry optimize

processes and streamline its operations, thus improving efficiency and competitiveness. Many

banks are working on improving their data analytics, mainly to give them an edge against

competition or to predict emerging trends that can affect their business. Most of us have a

trustworthy relationship with our banks and financial institutions. Our relationships with

banks are built on trust, loyalty, and personal service. However, the increasing sophistication

of banking services and products has fueled the need for effective decision-making tools to

enable better decisions from data insights.

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Company Profile:

IDFC First Bank: IDFC First Bank (formerly IDFC Bank) is an Indian private sector

bank that forms part of IDFC, an integrated infrastructure finance company. The bank started

operations on 1 October 2015, after receiving a universal banking licence from the Reserve

Bank of India (RBI) in July 2015. It is listed on BSE and NSE.

The bank serves corporate and private customers in India including the infrastructure sector

that IDFC specialized in from its founding in 1997. The bank also aims to provide services to

people in rural areas and to the self-employed. The bank IDFC Bank is the first in India to

launch Aadhaar-linked cashless merchant solution.One of its largest loans into e-commerce

includes a ₹3 billion (US$39 million) loan to Flipkart.On 8 November 2017, IDFC Bank

entered into a strategic partnership with digital payments solution company MobiKwik to

launch a co-branded virtual Visa prepaid card for customers of MobiKwik..On 11 March

2020, the bank announced that it has signed Mr. Amitabh Bachchan, as its first brand

ambassador. It announced the entry into credit card sector withlow interest rates and interest

free credit in 2021

HR Analytics in IDFC:

 Analytic insight helps identify which candidates are the “best fit” for particular jobs.

Large-scale recruiting efforts can be tailored to suit these profiles, yielding better

quality recruits at a lower cost. This results in a reduction of costly turnover and loss

of organizational intelligence over time.

 With the help of hr analytics, IDFC keeps a record of their employee details.
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 Many FS organizations are failing to deliver workplace experiences that engage

younger workers.
  IDFC personalizes the employee experience in much the same way as marketing

departments are working to personalize the customer experience.

ICICI Bank: ICICI Bank is a leading private sector bank in India. The Bank's

consolidated total assets stood at Rs. 14.76 trillion at September 30, 2020. ICICI Bank

currently has a network of 5,288 branches and 13,626 ATMs across India. ICICI Bank

Limited is an Indian multinational bank and financial services company headquartered in

Vadodara. It offers a wide range of banking products and financial services for corporate and

retail customers through a variety of delivery channels and specialized subsidiaries in the

areas of investment banking, life, non-life insurance, venture capital and asset management.

The bank has a network of 5,275 branches and 15,589 ATMs across India and has a presence

in 17 countries. The bank has subsidiaries in the United Kingdom and Canada; branches in

United States, Singapore, Bahrain, Hong Kong, Qatar, Oman, Dubai International Finance

Centre, China, and South Africa; as well as representative offices in United Arab Emirates,

Bangladesh, Malaysia and Indonesia. The company's UK subsidiary has also established

branches in Belgium and Germany.

ICICI Bank is a commercial bank that provides a wide array of services such as commercial

lending, investment banking, wealth management, internet, and online banking, venture

capital and private equity, broking, corporate finance, and insurance. The lending portfolio of

the bank comprises working capital loans, term loans, SME loans, overdrafts, cash credit, and

collateral-free loans. Founded in 1994, ICICI Bank is headquartered in Mumbai, India. ICICI

Bank caters to business and consumer products and services, energy, financial services,
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healthcare, information technology, materials and resources, manufacturing, infrastructure,

and technology sectors

ICICI Bank offers various services to the public in India and abroad.

ICICI Bank -provides banking and financial services

ICICI Prudential -Provides private Life Insurance services

ICICI Securities Limited -Offers wide Range of financial services, investment banking, retail

broking, institution broking, private wealth management, product distribution.

ICICI Lombard General Insurance Company -Provides private-sector non-life insurance.

HR analytics in ICICI:

 With the help of using HR analytics, ICICI practices predictive assessments of

potential hires.

 Artificial Intelligence is used to predict high performing recruits. ICICI used its

resources to allocate specialist resources to data discovery and analysis. This gives

them insights regarding absenteeism, leave, and employee attrition without a team of

data scientists leading the way. The different ways by which the company uses its AI

resources are as follows:

 Identifying at-risk talent through attrition marketing

 Modeling our talent pipeline

 Predicting high performing recruits

 Sourcing best-fit candidates with resume analysis

 Supporting employee interactions with chatbots

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 This would enhance the recruiting team’s performance, freeing resources to take on

more ambitious recruiting goals, achieve a better fit for job requirements, or to

accomplish the same goals with a leaner team

Conclusion:

Finally, analytics can help banks find new sources of growth, and even new business models.
Banks may be able to reap income from their data—for example, by sharing customer-analytics
capabilities with new ecosystem partners, such as telecom companies or retailers. Taken to a
logical but not implausible extreme, banks can use data and analytics to shape a new business
model and out-fintech the fintechs. The bank as data company can sit at the center of a consumer
ecosystem where the revenue pools include not just banking but also many other B2C and B2B
businesses. Great analytics isn’t the only requirement here: banks must get many other things right
to be relevant to and trusted by customers. But that can be done, and already more than a dozen
leading banks are taking positive steps in this direction.