Training and Development in ICICI Bank

It is the major private sector bank in India. It offers a huge network of 2, 528 branches and about 6, 000 ATMs in India and a presence in 19 countries including India. It employs around 36, 000 employees.

ICICI bank views and beliefs human source as an integral way to obtain competitive advantage. Therefore the development and management of real human capital is an essential element of these strategy and an important management activity.

The rapidly changing business environment in banking sector and the frequent obstacles it poses to organizations and businesses make it imperative to continuously enhance and improve knowledge and skill pieces across the firm. ICICI Bank thinks that building a learning organization is critical to be competitive in products and services and meeting customer requirements and achieving client satisfaction.

The Bank has generated strong features in training and development to develop competencies across various industries. Training on products and procedures is imparted through internet-based training modules. Special programs on functional training and control development are conducted to create knowledge as well as management capability at an ardent training service.

ICICI Standard bank also learns from the best available training programs and faculty, both international and home, to meet its training and development needs and build internationally benchmarked skills and functions.

Its Human Source base has following prominent features:

Human Source of information (HR) techniques high leveraging on technology.

HR Development is employed as a critical activity for healthy culture building.

It has a fine tuned recruitment process that identifies among other activities an individual's amount of customer orientation.

Training and Development in ICICI Loan company is described the team of employees in the Human Resource team who are responsible for such activities. Training and Development is headed by the senior-level official (who is a member of the professional team) - Key Human Capital Officer (CHCO).

Training and Development process in the ICICI loan company is considered needed for the progress and expansion of the bank. Since, limited training and employee errors constitute a major operational risk for the lender.

Methodology used in gathering information

The group prepared a questionnaire which is attached in the Appendix 1. The questions listed in the questionnaire were asked by us to the HR supervisor of Cochin branch of the ICICI standard bank Mr. Avinash Chandran.

He very comprehensively answered the nuances of training and development process accompanied by the bank. A number of the things he identified include Requirements for collection of T&D methods, its salient features, new initiatives considered and their results etc. He also described a few of the shortcoming of the procedure. All these items are protected in the survey combined with the groups' evaluation and suggestions.

Since we can get only regional level of information from Cochin's branch director, we referred Internet for the national practise followed by the bank, all over the country and overseas. We also analyzed the reasons for the existing differences between regional level and nationwide level practises. That is identified in the portions on levels of expert and role of corporate and business HR and field HR.

The group also conducted interviews of the employees, of virtually all the ranks like cashier, accountant, primary banking in control, maintenance and security personnel etc. within the Kunnamangalam branch of ICICI loan company We have tried to summarise all our studies in the article.

Levels of power in Training and Development

After interviewing group identified four degrees of expert in the real human resource practise followed by the bank

Corporate level HR

This is the central level of Human Resource official. Their main job includes laying out HR plans to be accompanied by the lender after observing recent styles in the banking industry. They ensure that bank employs standard and satisfactory practises and standard of working out and development program reaches par with international level

National level HR

National level HR official studies, modifies and manages working out and development programs matching to various differences prevalent in several places. He broadly instructs all the regional level HR official to are accountable to him the problems experienced by them in putting into action company policies. Then accordingly modifies plans and methods of working out and development programs to ensure that program is successfully put in place.

Regional HR

Main goal as of this level is to ensure proper implementation of the training and development program also to ensure that methods implemented in the program are highly relevant to the particular region. Also they report to higher authority in case of discrepancy or issues discovered during execution of this program.

Field HR

This is the primary degree of the hierarchy which immediately interacts with the customers. They are in charge of the day to day businesses of the lender. They need to interact with a massive variety of customers from very wealthy to very poor, therefore it's important that their training addresses this problem primarily and they must be coach to handle issues and daily nuances of the service offered.

There are subtle variations between training and development practise followed by various national and local branches of the bank. These differences are credited to different requirements, culture, practises and beliefs appreciated by various regions of the country. Also a substantial contributing factor is difference in the amount of education and economical development of the region, which gives climb to diversity and different requirements for different areas.

Interaction between various degrees of HR's

As mentioned before, Corporate HR and Field HR play a very diverse role in working out and development program accompanied by the business.

Listed are a few of the issues which corporate HR consult field HR and vice-versa:

Feasibility of the execution of a particular policy

Relevance of the plan at this region

Implementation issues faced

Modification needed in today's training and development program

Conversion rate of the training during the program into practise

Conflicts between various local and national level goals

Training and Development Process

Lets us discuss about the various external variables influencing for the need of working out and Development programs in the banks.

Industry and Organizational examination:

Many finance institutions in India were seeking to hire the professionals with higher deals even though the GDP of country was quite high as they were unable to find the ready available skill. Few banks took steps to build the ability and one of them is ICICI Bank. They have attempted to build the available resources on supply side to billable resources on demand part.

Our country is mainly dominated by medical and anatomist colleges where bank industry finds it difficult to find specific institutes who produce only pool of skills for finance institutions. This made the banking industry to look beyond top places for expertise and transferred to small town and rural India that require to be polished on interpersonal and commercial skills. ICICI loan company wished to design programs that would transform educated labor force into skilled bankers and turning those to future bank sector leaders. They often like students done their MBA programs and also have relevant work experience which is quite much longer duration. So they designed the programs for a year making beneficial employees in lesser time.

Task Examination:

ICICI lender has focused its business strategy on three key areas:

Expansion of Branch network:

the bank regulator demands rigorous compliance and deployment of trained workers to activate with customers as retail banking has high restrictions and ICICI bank or investment company planned to extend its branch network by 45%. Without reducing at service quality ICICI has taken up the challenge to post these new branches with more than 3000 employees. ICICI bank has put in place the enterprise-wide included learning function for the organized program to be successful.

Opportunities in Corporate Bank Sector:

Corporate banking established fact for high margin businesses which require resources with specialist skills in credit appraisal, risk analysis and relationship management. On-the-job training helps employees to build up skills in a period of 12 to 1. 5 years. The task for bankers was to crash the training pattern for first-day efficiency for growing opportunities.

Productivity Improvement:

It was task to bring about significant improvement after understanding that ICICI is commanding the highest levels of operational productivity and profit per employee in industry and also to be observed that production improvement is been key focus area for success of ICICI.

Selection of Learning and Training Methods:

ICICI loan company has considered two techniques for collection of learning and training methods:

Operational-Reaction decision making:

This approach is required to bridge shortfalls in expected degrees of services like quality, customer support, etc. They are determined through Training need analysis, evident through opinions and quality data by using opinions surveys, concentrated managerial discussion, target scores.

The design is:

Impact of any problem: Small and localized versus large and representative.

Learning Technology: Best mixture of delivery programs such as e-learning, class room, virtual classroom, video games, simulation, mobile learning.

Executive: Delivery time-lines and coverage.

Measurement: Results measured on suited model.

Strategic-Proactive Decision making:

Organizations capitalize on potential and emerging business opportunities because they build their functions for the permanent goals. Indian banking industry all together has used initiatives in this areas to make their functions.

Learning and Training Methods:

E-learning courses covering regions of banking, acts as knowledge for each and every business group.

For building Authority bench durability of the organization they have released Leadership Mentoring Program for all those high potential employees.

Behavioural Programs good competency framework (DNA) ensure cultural alignment of most employees. Almost 275 behavioural training are conducted on a monthly basis and every employee has at least one program each year. This shows the training Continuum.

Investment in building progressive and cutting edge learning programs like Gambling and Simulation for technology based skill practice and Mobile learning for real time performance support to the sales team.

Banks decided to make structural interventions in education by handling the issue of supply of skilled manpower:

Vocational Training: To provide vocational trained in the financial services website banks have moved into into partnerships with 172 educational companies. Curriculum and pedagogy development, faculty development and up-gradation of infrastructure help bankers to entail in capital infrastructure.

Investment in Higher Education: Bank or investment company offered wealth management, risk management and treasury procedures by getting into partners.

Bank has also started offering new classes like six months bank diploma to improve the way to obtain trained manpower not merely for the lender also for whole industry.

"Probationary officials Program" has been started to provide career to young graduates generally from rural and semi-urban areas by training them via a 9-months course in a variety of specific areas in building.

New Initiatives considered by ICICI

Winning Hearts:

The uncertainty in the imagination of the Indian customers has developed anticipated to global monetary environment. The Finance institutions decided to take the business lead and get in touch with its customer by equipping its employees to address customer inquiries.

Winning Hearts is a training video based training, to activate with customers with awareness and solution focused procedure, the frontline bankers were developed within the span of 1 week. The very best practice to tackle customers has been designed covering various customer behaviour situations and trained them in these programs.

The program was monitored by central head to ensure cent ratio coverage and covered more than 1200 branch banking personnel in a week's time.

Gaming and Simulation Engine unit:

This is known as to be an progressive learning medium to skilling employees on process and operation skill which acquired a development lead time of ten weeks and the interesting part is, a fresh training game to be developed for each and every training process.

I-Voice

The communication with all the company stake holders (i. e. shareholders, customers or employees) is always timely and transparent in ICICI standard bank. A video mag called I-Voice is the source of information in ICICI which is shared quarterly. This training video publication is 90 mints duration it is screened to employees across banking companies through town hall meetings facilitated by mature members of lender for two and half hours in length.

In the last one year, constant communication with the employees is becoming difficult because of the global financial meltdown and the marketplace turmoil. For this, ICICI has tackled concerns and concerns within an informal and well-timed manner by using the route of I-Voice extensively to talk to employees.

The design, development and structure of each edition of I-Voice is the responsibility of Learning and Development team which also makes a decision the theme for each and every model of I-Voice released.

The execution of I-Voice was very success by ICICI bank or investment company and fetched them a Best Corporate e-magazine from Connection of Business Communication of India (ABCI).

ICICI standard bank considers T&D programs very really. They think it to be one of the chief parts in the success of the bank. Hence they make sure that every employee who needs training gets it. In addition they ensure full employee participation and success of T&D programmes. ICICI bank do a number of things to ensure Employee contribution and success of T&D programmes

Employee understands the necessity of T&D

T&D was developed by ICICI bank or investment company by keeping the necessity and skill evaluation of the set of employees who will go through the T&D programme.

Following questions were addressed to identify the need

Does the employee need Technology updation or simple skill development?

Does the Staff have problems with Role issue?

Does the worker have what must be done to do the job in effective manner

Context of T&D in Employees Career

Employees were made aware of the importance of new skills and skill enrichment. The Inter-linkages between new skills and job were proven to help stimulate the Employees. The Staff participation was further increased by showing the value of skill in the foreseeable future development of their job and the linkages of the new skill with firm goals.

ICICI loan company trained its staff on core bank by exhibiting them the importance of the technology which can only help in furthering their own career.

Measurable objectives and favourable outcomes of T&D

The T&D was designed with measurable goals and favourable results that will be transferred to the work when training will conclude. Measurable objectives help to ascertain the skill which will be obtained in the training can help in achieving the objective.

Identifying and Interviewing key Stakeholders

ICICI consulted and conducted interview with customers, instructors and employees to find out the important areas of training and development methods. They came to learn about the value of core banking, Bank card and debit credit card issues related training. They also understood the practical difficulties that trainers usually face when they educate employees

ICICI followed up with internet surveys or evaluations of the training program. They later found it to be very useful in obtaining feedback from the audience's point of view. They conducted anonymous surveys, to have a much better chance of acquiring honest feedback

They noted results and examination of activity - a necessary function for gauging the impact of training.

The ICICI loan company came up with different parameters to evaluate its T&D costs. Listed below are a few of the parameters

1. Customer Satisfaction

ICICI is in the service industry hence customer satisfaction and retention of customers takes on a very important role for this. It is assessed by using a PULSE score. Pulse rating is calculated by US founded reputation institute which is a very good indicator of customer satisfaction PULSE score basically contains 4 things

Esteem

Admire

Feeling

Trust

The company inspected for the change in pulse rating before and after the execution of training and development program thereby helping in evaluating the T&D effectively. Customer behaviour was examined in the bank by using the live video recording to comprehend what improvement the worker has made after training and development and what possible improvement can be advised in future Training and development activities.

2. Questionnaire

Comprehensive questionnaires were given to all or any the stakeholders who are getting afflicted by T&D activities and the feedback is taken so that the T&D activities can be further increased. A copy of the questionnaire for ICICI prudential is given in the Appendix.

3. Interviews

Exclusive interviews were conducted across different divisions' customers to know whether they have seen any improvement in the behaviours and service of the worker who have been trained.

4. Output improvement

Productivity Improvement examination were done to gauge the success of T&D activities. It really is one of the main factors because the T&D is worthless if it cannot improve the performance of the staff from the business enterprise. The Production improvement were appeared for in following point of view before and after execution T&D

1. Average no of employees per branch

2. Average Call retaining time of Customer support representatives

3. Customer complaints

4. No of new customers

5. Earnings per employee

5. Human Reference factors

T&D activities were also evaluated based on recruiting factors so that it can help in redesigning job description and analysing jobs across various departments like Call centres, Riches management and riches advisory roles. Human being resource factors that were considered for analysis of the T&D programs. A few examples are Employee turnover, Absenteeism, Worker Grievances, Later comers etc.

Business Results

1. Upsurge in Average PULSE results for branch route from 66% to 81%.

2. Reduction in Customer complaints by 33%, over previous two quarters.

3. Profit per employee grown by 10% over earlier year.

4. 28% more new customer accounts by each sales officer in bank or investment company branches (in last year).

5. 11% more calls handled by each phone-banking officer.

6. Average call handling time reduced by 7 %.

7. Service to Sales-leads of inbound calls increased by 53 %.

8. Quantity of branches increased from 950 to 1400.

9. As the staff strength continuous at 10, 800 employees.

10. Average amount of men and women per branch reduced from 11 to 7 (productivity improvement).

Recommendations

Though ICICI Bank or investment company has seen stellar development over the past decade and it is the greatest private sector loan provider in India, it isn't without its good talk about of problems related to various things. The Bank has focussed on client satisfaction and productivity of employees, but it has additionally encountered high rates of worker turnover due to lack of employee emphasis. We present some of our suggestion to boost T&D activities over the coming years:

Leadership potential assessment

Identify the fast-trackers

Nurture the talent so that may take future leadership roles

Provide them the necessary environment to grow

Expand the job such that it increases their overall responsibility and accountability

Cross useful training should be done in order to be consumed in other job as well when the need arises

Reassign and redesign obligations that the staff will not like or that are routine

Provide more authority for the worker to self-manage and make decisions

Invite the staff to contribute on a department or company level decisions and planning and business level firm goals

Allow employees to pursue training and development in guidelines they choose and in the way they want, not just in company-assigned directions

On the work Training and Mentoring by mature employees should be encouraged

Take into account peculiar characteristics of the region

Appendix-1

Evaluating Training and Development Procedure for ICICI Bank

Questionnaire:

What will be the salient top features of training program followed by ICICI loan provider?

How could it be different from training and development program followed by other private and open public sector bankers?

How will you manage to coach such a big number of workforce?

What organizational benefits resulted from working out?

To what level did participants improve knowledge and skills and change behaviour therefore of the training?

How did members react to this program?

How would you ensure that training program allows employees to realize their functions & interest?

How you have designed development programs to provide meaningful, motivating & challenging experience?

How do you utilize group participative management to increase the performance of training and development program?

How does one evaluate success of this program once its completed?

What are the areas in the program, according to you where the group lags?

How do you suggest bettering and enhancing this program and rendering it more effective?

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