Training and Development Initiatives as drivers of Employee Performance: Case of Indian Banking Sector

Abstract

 This paper involves studying how training and development initiatives drive employee performance. For the purpose of this research, the Indian Banking Sector is being explored. Banking sector has been chosen because it is a diverse sector and forms the back bone of the financial system of any economy. It is one of the crucial sectors in any economy. Banking sector services are becoming more and more personalized to fit the requirements of individual customers. Due to heavy competition it becomes increasingly important for these banks to survive in the market by providing an impeccable service to its existing customers while also trying to poach new customers from other banks. Hence, Customer experience is of utmost importance in the present-day scenario. To operate in such a competitive landscape, it’s important that employee experience is also flawless because employee experience mirrors customers experience and to produce a good experience for the customers, the first step is to make your employees the best. This will in turn increase the organizational efficiency and performance. Training initiatives plays a massive role in making the employees up to the mark with job requirements whereas Development initiatives help in the growth of an employee in the longer run. Very few employees possess the job specific necessary skills. There is a great need of extensive training for these employees. The research paper is written with an intention of understanding how various programs that impart training to the employees drive their performance for the greater good of organization and attainment of organizational goals in the Indian Banking Sector. Questionnaire in the form of a Google form was floated to 90 employees of top private as well as public sector banks in India and 79 valid responses have been received. The method of sampling used was convenience and referral sampling. Analysis was done through SPSS, where correlation and factor analysis tools were applied on the data to gain meaningful results. Usage of these tools provided a quantitative and empirical outlook to the study. We will also understand the relationship of training and development with job satisfaction, Commitment towards the job and Skill Development. The result of the study presented that training and development initiatives were beneficial in driving employee performance and had a great significance in improving the performance of employees