( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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ATTRITION IN PUBLIC SECTOR BANKS AND HUMAN RESOURCE MANAGEMENT

    1 Author(s):  VIKAS SHARMA

Vol -  10, Issue- 5 ,         Page(s) : 465 - 470  (2019 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

The condition of workforce in banks has become bad to worse and in spite of modernization in banking products and services there is not enough work at the front of the human resource. This results in high attrition rate in the Indian banking Industry. Public sector banks are more affected due to low salary and lack of work related incentives. Though they are hiring at a rapid pace in last 5 years but almost 20 percent of them leave the bank, some for better job opportunities and some for better salary and higher positions. There is immediate need for improvements in human resource management. In our study it was found that like in many other industries human resource management can play an important role in reducing and controlling attrition rate by satisfying various needs of the employees and by linking performance with pay. At the same time human resource management may face certain challenges like increasing employee expectations, multi talented employees and lack of organisational commitment which can become major obstacles in employee retention.

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