Government Bank Sectors performances in Sri Lanka: From the Perspective of HRM
Why Sri Lankan government bank sectors fail?
Sri Lanka has been experiencing
an economic crisis since 2019 as (Easter bombing, Covid19, Money printing by the Central Bank, Corruption caused by Ministers and government executive officers) result of unpopular decision making. The
government banking sector also has faced challenging in recent years. If this
failure is analyzed from the perspective of HRM, it can be linked to inefficient
recruitment practices and talent management as a main issue. Most qualified and talented candidates are
not much attract by this governmental banking sector because of their complex
governmental hiring process which leads to skill gap.
Next key issue is lack of training and development workshops for government sector banking employees. If an organization fails to upgrade their knowledge and skills along with technological advancement, it could be limited their ability to achieve the organization’s goals and manage the risks effectively which is essential to banking sector.
Furthermore, the loss of skilled
experienced professional could affect the any organization. So, it is
responsible of HRM team to create a supportive work environment to employee and
attract them with incentives to prevent their sight into private sectors.
Finally, government bank sector has to take HRM department as their strategic partner to planning and align the human resources to achieve the bank’s long term goals. Also, banking sector has to provide enough support to strengthening the HRM department by held development programs to make good leadership and grow skills among the employees. .
Conclusion:
Finally, it
is the organizational responsibilities to respond to the needs of the
employees. Their job performance does not only rely on their roles, abilities, or
motivation, but their performance depends also on the support from the top
management. When all these four factors have been applied and put in practice,
the organizational performance is no doubt reaching its height steadily.
References:
- Beaver, W. (1966). Financial ratios as predictors of failure. Journal of Accounting Research, 5, 71-111.
- Amrhein D.G., Katz J.A., 1998, Cash flow as a factor in the mortality risk of a business, International Council for Small Business, 1998 Singapore Conference Proceedings, Paper nr.18.A
- CS Gunawardhana2019_Journal of business and Technology_page 44-47
Insightful perspective! Highlighting the crucial role of top management's support alongside employee factors truly emphasizes the path to achieving organizational excellence. Great job!
ReplyDeleteYour analysis provides a detailed look at the challenges facing the Sri Lankan government's banking sector from an HR system perspective. Highlighting issues such as inefficient recruitment, lack of training, and limited career growth opportunities reflects a deeper understanding of systemic issues. Emphasizing modern HR strategies and aligning HRM with long-term organizational goals provides practical solutions for driving improvement. well done!
ReplyDeleteThis post highlights the crucial role of organizational support in driving employee performance, emphasizing the need for a collaborative approach between employees and top management for optimal outcomes. Great insights!
ReplyDeleteWell-articulated post! It effectively highlights HRM gaps in Sri Lanka’s government banking sector and offers actionable insights like modernizing recruitment, training, and employee support to boost performance and retention
ReplyDeleteAn insightful analysis of the performance of Sri Lanka's government banks. Understanding their role in the economy helps identify opportunities for growth and improvement in the financial sector. Well-written!
ReplyDeleteGreat article! You’ve provided valuable insights and practical tips really enjoyed reading it
ReplyDeleteGreat article! You’ve provided valuable insights and practical tips—really enjoyed reading it
ReplyDelete