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In India banking is as old as man on earth. The existence of banking system in India can be traced in Vedic period. Indian banking sector has undergone major changes and reforms in the modern context of society. We all know technology play a lead role in the banking sector. Innovations like Cash-on-mobile, Quick Redeem, Denomination Selection, Check on Cheque, My Account My Number, Video Branch etc Generating first of kind services/innovations which further improve a customer’s banking experience are key drivers towards this. The bank prides itself of having been able to understand its customer’s needs and provide such solutions.It is reckoned as a hub and barometer of the financial system in a country.. India is an emerging economic power with a very large pool of human and natural resources, and a growing large pool of skilled professionals. Indian Banking Sector is most developed, organized and diversified sector. This sector is an important tool for facilitating the development of Indian Economy. (Mehta 2016).
ATTRACT, RETAIN and MOTIVATE are the major challenges facing by human resource manager for their employees in an Organization .It is said if right person is appointed at right place the half work has been done. But Understanding why your employees leave is almost as important as understanding why they stay. Some would say it is even more important. An employee’s real reasons for leaving can be revealed in exit interviews. In the most straightforward terms, an exit interview is simply a means of determining the reasons why a departing employee has decided to leave an organization.In this paper I have tried to cover all the important points that are undertaken in the recruitment, selection and exit management process of IndusInd Bank Ltd.
The recruitment process of IndusInd Bank Ltd is a long process which starts from interviewing the candidate, and then if the candidate is selected and fulfills all the criteria, then he/she is generated offer letter for the job. When the candidate accepts the offer letter, then further process and procedure is followed during which the Employee Code Number of the candidate is generated and then it ends when the candidate is enrolled in the payroll of the bank.The recruitment process of IndusInd Bank Ltd is further explained in detail:-
The following process is followed serially under recruitment process:-
(a). ECN Generation
(b). PayrollThe steps under new e-joining process are as under:-
EXIT PROCESSA employee if he/she had done with exit formalities that means if they had submitted the required documents for exit.Then they can get there FULL AND FINAL salary after 15 days when these exit documents received by the HR team (Mumbai, Head office)And after receiving full and final employee will get his/her RELIEVING LETTER after 45 days of full and final. Here the exit of employee completes.
ABSCONDING EMPLOYEES-Employees who leave the organization without intimating they are called absconding employees. These employees are not provided with relieving letter. And some cases these employees are listed in black list. Based on this analysis of the reasons for leaving it should be recognized that, in many cases, the organization has at least some influence over the employee’s decision to voluntarily give up a job. In fact, when all reasons for leaving are categorized in terms of the employer’s impact on the decision to stay or go and the employee’s own level of control over the decision, more than 50% of the reasons for leaving are within the control of both the employer and the employee. From this analysis, it is clear that organizations should seriously consider what strategies and policies are in place to reduce turnover and retain valuable employees.
From the above study, it can be concluded that the recruitment process at IndusInd Bank Ltd. is a long, lengthy and time consuming process as there are lots of formalities to be done before the whole process of joining is completed. It sometimes results into dissatisfaction among candidates or employees as they have to wait a lot for their turn for joining process. The process should be made as such as the employees are satisfied and the work is not delayed. It is important as the recruitment process has a great impact on the working of the bank as new ideas enter in the bank.The process of recruitment is effective. The formalities in the joining process further could be shortened in such a way that it is effective as well as it results in the satisfaction of employees.Bank need to improve their strategy of Attract, Retain and Motivate As human resource is an important asset for survival of a nation.
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