In the present times, where advancement is going in each area, organisations need to have a knowledgeable, well-trained, and experienced workforce to maintain pace with the fast-changing world of which India is no exception. To achieve this objective, organisations have to train their workforce to confront any kind of challenges imposed by a dynamic business environment with ease. Each organisation can compete with its competitors on the basis of expertise and core competencies of its employees. The core competencies act as a competitive advantage for the organisation, which needs to be developed through the concurrent training process.

Introduction

In the changing environment, banks and financial institutions need to build a robust, impactful and inclusive training ecosystem to combat various business risks they face. It is, therefore, in this context, necessary to train its employees on a continuous basis in areas such as understanding the bank branch, roles and responsibilities as a banker, enhancing operational efficiency, marketing strategy, business strategy, customer care, awareness of products and procedures, preventive vigilance and fraud risk management, credit management, wealth management, recovery of loans, audit and inspection, compliance and various other operational and behavioural aspects of the business.

At present, the training needs in banks are analysed through task and performance analysis. The job of need analysis is conducted by way of surveys, information furnished by the heads of the departments, customer complaints and even reports on 360-degree feedback systems. In the case of large banks, there are two ways of conducting training programmes: through an established department with a full-time HRD functionary who oversees all the training and development functions of the bank or through external trainers coordinated by the HRD. These days, bank staff members, in order to develop a competitive edge over their competitors in delivering high-quality services to the customers and maintaining a robust compliance atmosphere, have resorted to a hybrid mode of conducting training programmes.

Traditionally, banks recruit young college pass-outs, and their initial training either depends on a long apprenticeship or on-the-job training. The new recruits are provided with formal training in basic routine operations, or alternatively, banks recruit trained or job-ready employees and directly assimilate them through an induction training process. In either case, aspirants to various management positions are encouraged and groomed through a well-designed, impactful training process to qualify professionally to handle the various positions. The present banking scenario, where several positions are filled with the least or no experienced professionals, demands the exercising of sound and impactful training processes for their employees.

A. What is training?

Training is a process to enhance the knowledge, skills and abilities of individuals to perform their jobs correctly, effectively, and conscientiously.

B. Training vs performance

There is a clear difference between learning and training, but both play an integral part in the development and performance of the employees of the organisation. Training is providing instruction to upskill a person in order to complete a task. Learning is the cognitive process where a person understands the instruction and can then perform the task using the learned skill.



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