A Comparative Study of Strategic Human Resource Management Practices in Nationalized and Private Banks of Latur District

Abstract

The study of banking remains as interesting as ever because of its breadth and newlineconstant development. The liberalization, economic reforms and technological newlinemodernization forced banking sector to necessarily become competitive. This newlinecompetitiveness generated need of competitive people. Each bank started taking newlinehuman resource decisions with respect to their competitor bank. This gave rise to newlineimplementation of strategic human resource management, where human resource newlinestrategies are formulated with respect to the competitor. Now the bank became more newlinecustomer centric and customer satisfaction turn out to be a prime motive for banks. newlineThe bank can achieve this motive by having higher quality people than the newlinecompetitor. The competitive advantage based on the effective management or people newlineis hard to imitate. The challenge to bank is to make sure that they have the capability newlineto locate, absorb, compensate and preserve talented people they want. Hence human newlineresource trends can be focused more in this context. newlineSo present study accomplished with the objective to compare and explore strategic newlinehuman resource management practices of nationalized and private banks in the light newlineof competition. The study is about strategic human resource management practices newlineimplemented by nationalized and private banks in Latur district. Further the study can newlineprovide new ground for auxiliary research by considering existing parameters newlineindependently or collectively. newlineStrategic Human Resource Management is an approach that defines how the newlineorganization s goals will be achieved through people by means of HR strategies and newlineintegrated HR policies and practices. Strategic HRM is concerned with consideration newlineof human resource of the organization as a strategic resource for the attainment of newlinecompetitive advantage. newlinexvi newlineThe basic objective of strategic HRM is to generate strategic capability by ensuring newlinethat organization has the skilled, engaged and motivated people it needs to achieve newlinesustained competitive advantage. newline