The small finance banks were confronted with big challenges that ranged across functions- domestic capital requirement, growth vs mature market strategy, cost vs revenue balance in operating in under-banked districts, technology and the biggest one - the human resource capacity.
The 18 month in-principle approval by the Reserve Bank of India (RBI) to the Top 10 Small Finance Bank (SFB) licensees concluded in April this year. What appeared to be an uphill task (November 2015, Human Capital), is now a thing of the past, with many of them launching their banks successfully, and, are able to look back at this eighteen month transition period with tremendous pride and satisfaction. The small finance banks were confronted with big challenges that ranged across functions domestic capital requirement, growth vs mature market strategy, cost vs revenue balance in operating in under-banked districts, technology and the biggest one - the human resource capacity. Most experts express that while other challenges can be met through off-the-shelf solutions, the challenge of human resource can be addressed in-house alone.
At the end of such a transition period, small finance bank launches by VIPs were indeed thought provoking. What made all this possible in an Industry that till recently was crippled with challenges such as cap on margins, increasing input cost, low visibility, scarcity of talent, and, above all lower regulatory protection? What made the Reserve Bank of India to recognize eight micro finance firms among the ten approved companies, when it had applicants from some of the top known corporate houses competing for this license? One visible answer is the demonstrated capability of these companies in handling people - employees and customers - in a sensitive manner. Such people orientation is well defined in research and practice literature as employee orientation and customer orientation, with one leading to the other (PO = EO ? CO).
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Esta historia es de la edición August 2017 de Human Capital.
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Continuous Learning For Growth
Of late, for organizations particularly in the service sector, people have become the strategy. And, if that is the case, the Learning and Development (L&D) department in organizations, and the industry in general, is likely to witness significant growth in 2017 and the years thereafter.
Creating Open Spaces And Minds
As the boundaries of life between work and home continue to blur, employers and employees are sitting up and are noticing the ways and means to offer and avail a worthwhile experience at the workplace.
Striking The Right Balance
In 2017, an employee in the HR Department of a leading global company received an excel sheet attachment in his official mail. While the content seemed harmless, it was in fact a well disguised Ransomware attack which had in fact placed several companies worldwide in the dock. Ransomware attacks targeting HR departments across the globe have since been in vogue since they possess valuable employee data which can be used to commit crimes such as tax frauds and the like.
The Multifaceted Advantages Of AI
AI can speed and automate data collection, make fundamental observations, systemize HR issues, and differentiate customer and employee profiles. But, corrective measures and final decisions can only be approved by people who can understand how to leverage AI tools to acquire accurate information sans the noise and interpret them the right way.
Engagement Surveys: A Means Or An End?
Surveys are not merely a way to check the pulse of the organisation; they should ideally be used as vehicles to improve the organisation culture, people practices and employee experiences which gradually translate into business success.
What Is And What Needs!
The idea of the best fit works only in a perfect universe. In reality, what talent specialists and hiring managers should focus on is getting the close fitment. They should work with an approach that bridges the gap between what is (available) and what needs to be (done).
A Matter Of Strategic Timing!
The term 'work-life balance' has become a popular chant for all working professionals today. A world of different opinions continue to pervade our lives, with one actually affirming that there truly is no direct relationship between the parallel worlds we live in.
Picture Out Of The Frame
A few months ago, Moon Jae-in, the President of South Korea, made an unusual announcement.
Analysis
It is paramount for a pharmaceutical company to meet the business requirement of regulatory compliance.
How Can They Fire Her?
It is a common phenomenon in the corporate landscape to misinterpret the inability to respond to a query by a Manager as a serious lapse which at times leads to termination of his/her services. As a fallout, not only do they risk losing out a person with superior managerial skills, they also dampen the spirit of the juniors in her department, leading to sinking morale and reduced engagement.
