Employee Retention, Training and Development in Banking Sector: A Review Paper

Abstract

This is a review of research papers on Banking Industry in India. The government policy of less restriction in governmental regulations, liberalization, globalization and privatization have all contributed majorly towards Public Sector Banks in India to forcefully compete with Private and Foreign Banks. Organizational effectiveness can be achieved by Training and skill development of employees at various levels. Implementing Training and skill development programs in banks helps in running banking business effectively, and makes the banks prepared to cope up with changes and developments. Retention of employees with due compensation and reward system leads to commitment at work place, job satisfaction and motivation of employees. Further the banks implementation of Training and skill development for employee growth, their empowerment and environment of trust gives a competitive advantage due to the implementation of best HR Practices.