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Importance of Human Resource Management in Banking Sector
Importance of Human Resource Management in Banking Sector
MANAGEMENT
Aravind Unnikrishnan
MBA B Batch
DEFINITIONS OF MANAGEMENT
Organising Organising
Controlling
Staffing
Directing
Controlling Staffing
Directing
PLANNING
Bridges the gap between where we are and where we want to go.
Systematic thinking about the ways and means for achieving pre
determined goals.
The function of planning includes :
(1) Determining the objectives.
(2) Forecasting and choice of a course of action.
(3) Formulation of policies, programs, budgets, schedules, etc.
(4) Laying down of procedures and standard of performance.
ORGANISING
The process of establishing harmonious authority – responsibility
relationship among the members of the enterprise.
The function of organising:
(1) Determining and defining the activities.
(2) Grouping of activities.
(3) Assigning duties and activities.
(4) Delegation of Authority.
(5) Defining and fixing responsibility of performance.
(6) Establishing authority – responsibility relationship.
STAFFING
The process of filling all the positions in the organisation with qualified
personnel.
Staffing involves the following :
(1) Manpower planning.
(2) Recruitment.
(3) Selection.
(4) Placement and Orientation.
(5) Training and development.
(6) Performance appraisal.
(7) Transfer and promotion, etc.
DIRECTING
The executive function of management as it is concerned with the
execution of plans and policies.
The directing function includes :
(1) Issuing orders and instructions.
(2) Supervising.
(3) Motivating.
(4) Establishing communication with employees regarding plans.
(5) Influencing the behaviour of the employees.
CONTROLLING
“Control is verifying whether everything occurs in confirmity with
the plan adopted, instructions issued and principles established”
- Henry Fayol
The process of controlling involves the following steps:
(1) Establishment of standards.
(2) Measurement of performance.
(3) Appraisal of performance.
(4) Taking corrective actions.