Monetary and Banking Research Institute
Date:8/3/2019 11:08:38 AM   |   Code : 304433   |   View: 19
The Challenges of Human Resource Management in Banks

The Challenges of Human Resource Management in Banks

The head of the Monetary and Banking Research Institute, pointing out that the main asset in any organization and so the banking system is human resources, said: "What gives the organization an identity and makes a difference is human resources."
 

According to the Public Relations of the Monetary and Banking Research Institute, Ali Divandari emphasized the importance of human resources in banks and their needs and conditions.

"One of the challenges is how to deal with young people in the banking system, and if we want to manage this generation well, we need to make sure that their individual values ​​are in line with corporate values," said Divandari.

The head of the Monetary and Banking Research Institute stated that the role of individuals in the success of the organization, society and economy should be clarified. They need to be seen so the systems must be designed in a way that individuals can express themselves.

"We need to design systems that can evaluate each individual and they know that they will be seen," he said, noting that the smallest unit for quantitative performance evaluation in the banking system is bank’s branch.

"At present, individuals, colleagues and customers are aware of the ability of staff within branches, but decision-makers and managerial boards are unaware of such information and those are the ones that make the decisions."

He said that the next challenge is recruitment and staffing. He said: "Most people in the banking system start out as tellers and grow their jobs in the bank and unfortunately no attention is paid to their talents and skills, but in the world this is not the case and they hire the right person for each position."

"Managers need to be at the forefront of successes and failures alongside their young forces, and to attribute successes to the human resources," said Divandari.

The next challenge is the gap between the HR skills and the skills needed today, that is, the abilities that people have and what they need to have. This gap is expanding day by day, not just for banks, this is a problem in the financial services industry.

The head of the Monetary and Banking Research Institute stated that many of the bank's activities have shifted from the traditional to the digital procedures. In this case, many of the skills that staff have will not be applied in the future and individuals' skills will need to be changed as well.

He said: "Simple jobs like receipt and payment in the future will be disappeared and new jobs will be replaced, and we must train the people accordingly. One of the fundamental changes is the business model; in the old state everything was done inside the branch, but in the new banking, which is called comprehensive banking, the bank is customer-oriented rather than branch-oriented, and branch becomes a geographic and local marketing point, and in fact, a showcase for banking services." said the head of the Monetary and Banking Research Institute.

The next challenge is the recruitment and retirement plans that we have faced in recent decade, and many of the banking-savvy forces have left the banks, and because of the lack of hiring in the banking system, banks have faced human resource vacancies.

"The next challenge is the disproportionate number of graduates with the number of forces required, the unemployment rate has a double effect: there is an opportunity to attract more efficient forces, but experts must be hired if we can manage them well," he said.

Divanadri added: Recruitment tests are a way of bringing elites into the banks, but much of the work that needs to be done at the bank remains traditional and outdated.

He said: " The last challenge is the payroll system of employees, usually in banks the payroll system is based on the rating system that has created a serious challenge for banks. Human resource payroll are based on job benefits that are summarized in the organizational position and it caused a lot of competition for the job position. Therefore, the internal and external pressures for taking office have increased, creating the risk that the organizational positions of the banking system will be exposed to external pressures."

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