Introduction

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    Human Resources Management is a crucial aspect that companies must prioritize. It is essential for organizations to recognize that individuals are the driving force behind business success. Consequently, employees are acknowledged as the foundation of the enterprise.

 “HRM is a process of acquiring, retaining, developing, terminating and properly using the human resources in an organization”. - Robbins and Decenzo.

 “HRM 'is concerned with the employment, development and reward of people in organizations and the conduct of relationships between management and the workforce”. Armstrong.

    In the current landscape of the banking and finance sector in Sri Lanka, there is significant competition across various domains. This competition extends beyond business operations to include employee recruitment and development. The job market has expanded, leading to a notable number of banking and finance professionals leaving their positions for various reasons. As a result, a competitive environment has emerged in recruitment and other critical areas. Companies must possess a clear understanding of their needs and the ideal candidate profiles required to fill vacancies effectively. Placing the right individual in the right role at the right time can significantly contribute to business growth and profitability, driven by informed decision-making from capable personnel within the organization.

    It is important to note that the business development process encompasses not only recruitment but also the development and retention of human resources, which play a vital role in overall impact.

    In this blog, I will outline the essential components of Human Resource Management (HRM) and their relevance to the banking and finance sectors. Additionally, I will discuss the importance of employee retention for banks and financial institutions.


Comments

  1. Nirmani HansikaApril 3, 2025 at 11:18 PM

    hi Thiranji,
    you have explained It is crucial to remember that the business growth process includes not just hiring but also training and retaining human resources, all of which are critical to overall impact in banking sector.


    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 5, 2025 at 7:09 AM

      Dear Nirmani, totally agree with you. Specially, remaining employees is most important in financial sector, because they have the talent and experience than recruiting from outside. So the top management should try to find strategies to remain the talented employees in the company.

      Delete
  2. Mithila HerathApril 5, 2025 at 5:57 AM

    The article provides valuable insights into the significance of Human Resource Management (HRM) in organizational success. It effectively explains how HRM's role in recruitment, retention, and development is crucial for the banking and finance sectors. The emphasis on informed decision-making and employee retention highlights HRM's impact on business growth

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 5, 2025 at 7:09 AM

      Dear Mithila, Thank you for your valuable comment. you have clearly mentioned exactly what I'm trying to present.

      Delete
  3. Thamashi Amashakya D.April 7, 2025 at 2:28 AM

    A solid introduction to the importance of Human Resource Management (HRM), especially within Sri Lanka’s competitive banking and finance sector. It highlights employees as central to business success and incorporates respected definitions from Robbins & Decenzo and Armstrong to support its points.

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 14, 2025 at 1:01 AM

      Thank you for your thoughtful feedback! I’m glad you found the introduction to HRM valuable, especially in the context of Sri Lanka’s banking and finance sector. I agree that employees are the heart of any business, and it’s great to know the inclusion of definitions from Robbins & Decenzo and Armstrong resonated with you. I appreciate your insights!

      Delete
  4. Ishara RathnayakeApril 11, 2025 at 9:31 AM

    Hi,
    This is an insightful perspective on the critical role Human Resources Management (HRM) plays in the success of organizations, particularly in Sri Lanka’s competitive banking and finance sector. As you’ve highlighted, HRM is not just about hiring talent, it’s about acquiring, developing, and retaining the right people who will drive the company’s growth.

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 14, 2025 at 1:08 AM

      Thank you for your thoughtful comment! I’m glad you found the perspective on HRM valuable, especially within Sri Lanka's banking and finance sector. You're absolutely right—HRM is about much more than just hiring talent; it’s about creating an environment that fosters development and retention, ultimately driving growth. Your feedback is much appreciated!

      Delete
  5. Shanika GamageApril 12, 2025 at 7:22 PM

    This blog offers a strong introduction to the vital role of HRM in the banking and finance sector. It effectively highlights the importance of strategic recruitment, development, and retention of talent in driving organizational success. A timely and insightful read for navigating Sri Lanka’s competitive financial landscape.

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 14, 2025 at 1:09 AM

      Thank you for your kind words! I'm glad the blog effectively highlighted the strategic role of HRM in driving success within Sri Lanka’s competitive banking and finance sector. Talent recruitment, development, and retention are indeed key to navigating today’s challenges. I truly appreciate your thoughtful feedback!

      Delete
  6. Hiranthi KalansooriyaApril 13, 2025 at 12:39 AM

    Hi Thiranji, You have clearly explained the importance of HRM in the banking and financial sector. I agree that finding and keeping the right people in the right roles makes a huge difference, especially with the competition out there. I'm looking forward to seeing how HRM helps with retention and development. Great article.

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 14, 2025 at 1:10 AM

      Thank you so much for your thoughtful comment! I'm glad you found the article helpful in highlighting the importance of HRM. You're absolutely right. Finding and retaining the right talent is key in such a competitive sector. I'm excited to continue exploring how HRM can contribute to employee development and retention. I truly appreciate your feedback!

      Delete
  7. NILUSHA DISHANTHIApril 14, 2025 at 6:14 PM

    You've done a good job of capturing the contemporary dynamics of the banking and finance industry in Sri Lanka, particularly the complex issues around hiring and retaining employees. I especially like how you stressed the strategic importance of HRM in attracting, developing, and keeping talent all of which are essential for maintaining business success. I'm interested in reading your explanation of the many aspects of HRM and how they apply to the sector.

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 15, 2025 at 5:15 AM

      Thank you for your thoughtful comment and encouragement. I'm glad you found the focus on HRM relevant, especially in the context of Sri Lanka’s banking and finance sector. I look forward to exploring the different aspects of HRM in more detail in future posts. Stay tuned!

      Delete
  8. Ranjith MunasingheApril 14, 2025 at 11:52 PM

    Hi,
    This article effectively emphasizes the vital role of Human Resource Management in the banking and finance sector. It highlights how strategic recruitment, development, and retention of talent are key to navigating industry competition and achieving sustainable business growth. Insightful and relevant!

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 15, 2025 at 5:16 AM

      Thank you for your insightful feedback. I'm pleased to hear that the article resonated with you, especially regarding the strategic value of HRM in driving sustainable growth in the banking and finance sector. I appreciate your support and hope to continue sharing relevant insights in future posts.

      Delete
  9. HARSHANI NARATHOTAApril 15, 2025 at 5:08 AM

    Dear Theranji,
    this article provides valuable insights into the significance of Human Resource Management in organizational success. HRM's role in recruitment, retention, and development is crucial for the banking and finance sectors.

    ReplyDelete
    Replies
    1. Thiranji SamarakkodyApril 15, 2025 at 5:24 AM

      Thank you for your thoughtful comment. I'm glad you found the article valuable, particularly in highlighting HRM's crucial role in recruitment, retention, and development within the banking and finance sectors. It's encouraging to know that the insights shared resonated with you, and I appreciate your support.

      Delete

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