Greetings of the day!
It has been more than a year since I joined NIBSCOM Team as Director. Unfortunately, soon after I joined the Institute, countrywide lockdown was announced and all activities got restricted to state of stand still. The year 2020 posed unprecedented challenges in all wakes of life and hampered performance & delivery of businesses and services. But we all as a nation, as a civilization fought well.
Banking Industry in India has always been confronted with challenges like continued Asset Quality erosion, poor collections and recoveries, regulatory compliance, security breaches, antiquated applications, continuous innovation, amalgamation and mergers etc. And COVID-19 made this scenario even more scary, uncertain and testing. In the backdrop of evolving economic and regulatory developments, jobs in the financial sector have become very complex, demanding and challenging. This socio-economic dynamism has made it imperative, to continuously innovate, enhance and improve the knowledge and skill sets across the organization. To ensure satisfaction of ever increasing customer requirements and expectations in the banking service Industry, the employees are expected to have much deeper knowledge, subject area expertise and better skill sets. The requirement of different skills and rich experience is a continuously evolving concept. Bank employees, the Corona Warriors, now-a-days, need to specialize in different business functions while maintaining basic competencies. Being an integral part of Service Industry, Human Capital in Banks needs to be continuously strengthened, refined and enriched.
In the current scenario, the Top Managements of the banks need to focus on Human Resources Management aspect in general and Capacity Building in particular. We need to manage attrition risk and should endeavor to mitigate it by seriously addressing issues of replacement and replenishment of talent which makes succession planning a big responsibility which is a continuous journey. We need to identify skill sets required for different assignments and address the gaps by taking appropriate Capacity Building steps including training and education. The aim & objective has to be essential skill development for the current employees to create future leaders. HR functionaries in the banks need to seriously focus on augmenting capacity in the employees. Talent and Leadership requirements at the specialized positions, including Top Positions in the organization need to be assessed and planned strategically.
Training, education, coaching and mentoring plays an important role in growth and development of both, the employees as also the organization. Training is the most important Talent Management and Capacity –building tool. Training interventions result in skill development, capacity building, overall personality enrichment and personal growth of the employees. The training also fills the gaps at various hierarchical levels, including senior positions in terms of Leadership skills, Team-Building skills, Effective Communication skills, Motivation skills etc. A comprehensive overhauling of competencies is the need of the hour. Internal Academies and External Training Institutes can play an important role in this direction.
We, at NIBSCOM, strongly believe in offering & delivering the best of education, knowledge, grooming, counseling and training to the bankers and other Financial Sector participants. The pillars of our strength include our internal academic team with vast banking experience, external industry experts and the industry leaders of the ranks of Chairman, Managing Directors and Executive Directors. Out of the box thinking and challenging the status quo has been part of our work culture. We strongly believe in continuously enhancing value of our deliverables through innovation and up gradation.
We are proud to inform that even during difficult COVID scenario, we firmed up our IT infrastructure and delivered more than 160 Online Training Programmes benefiting more than 5,600 bankers without fail. The content, interface and the delivery was appreciated by one and all without exception. I feel privileged to place on record my sincere appreciation for the commendable work done by all my dedicated team-mates. By dint of their dedication and sincerity, they all contributed and performed in a big way towards growth and development of NIBSCOM and took it to next level.
We strive to be the Best in our stream and hope to take this philosophy further and farther. We are strong believers of Team-spirit and Team-work and are confident that we live up to our Mission Statement and achieve our goals and objectives.
Together we can & Together we will!