A Study on Impact of Employee Empowerment and Development on Employee Engagement in select Public sector and Private sector banks in Karnataka

Abstract

In recent years the business world has realized Employee Engagement as an indispensable tool newlineof management. Managing Human capital will become increasingly important. The simple newlineequation that lies behind the fact is that if businesspersons fail to satisfy the demands of their newlinecustomers or clients, they are going to experience loss in their businesses. And the way to newlineachieve such extraordinary level of customers or clients loyalty is through having engaged newlineemployees. A recent report of Deloitte s Global Human Capital Trends 2016 which is based on newlinemore than 7000 responses in over 130 countries around the world ranked Employee newlineEngagement is one among the Top 10 Human Capital Trends. Employee engagement is a newlinepervasive force at all three levels of an organization. 85% of the executives across the global newlineregions and selected countries rated employee engagement is important/ very important trend. newlineSpecifically in India this percentage of rating goes to 83%. Despite this fact only 64% of the newlineorganizations are involved in measuring the employee engagement annually (Brown, Bersin, newlineGosling, Sloan, 2016). newlineThe finance and banking services sector do not fare well with regards to employee engagement. newlineWhen contrasted with any other industries, finance and banking sector experience the ill effects of newlinehigh client-switching rates, low worker engagement levels, high turnover and absenteeism newline(Ouch, 2016). An examination by Dale Carnegie (2013) even shows an amazing 65% newlinedisengagement pace of banking sector employees. When employees are disengaged, it newlinesignificantly affects efficiency and payroll costs. In the battle for upper hand where workers are newlinethe differentiator, retaining engaged employees has become a vital goal of each organization. newlineConsequently, it is fascinating to examine the strength of employee engagement in banking newlinesector. newlineEmployee engagement is really a critical aspect in banking industry, as competitiveness, newlineworkload, turnover ratesand retention rates are high. Employee engagement plays a pivo