 "SBI goes for HR audit to prepare for competition")
To stay ahead in the digital banking space, State Bank of India (SBI) is buttressing its human resources (HR) systems and practices. The bank, India’s largest lender, will take steps such as audit of its HR systems and practices. For this, it will rope in a consultant.
SBI will also conduct, for the first time, an employee engagement survey to get feedback on the effectiveness of HR practices and policies that are in vogue. Ashwini Mehra, deputy managing director and corporate development officer at SBI, said audits would be conducted every five or six years. The last such exercise was done in 2009 by HR consulting firm Hewitt.
The bank would firm up advisors by the end of January 2016. The audit report along with recommendations for future course of action is expected to be ready by the middle of 2016 (calendar year). The rollout could start after October next year, said Mehra.
According to another senior SBI executive, the bank has a reworked information technology backbone and product suite to scale up and become a formidable player in digital banking space.
While the brick-and mortar network remains important, the digital platform is fast becoming a crucial base for a customer interface and transactions. SBI is one of the few organisations in the country with staff belonging to diverse regional and cultural groups.
The review of the HR unit’s performance will dwell on corrective steps to rectify shortcomings and cover for future guidance.
The entire exercise is also an opportunity to adopt best practices followed at other places and organisations.
