Empowerment of award staff in regional rural banks through training system: An analysis

Widespread globalization and fierce competition has produced economic environment that are more changing and volatile than ever before. Wide spread changes are making it difficult for the business organizations to survive and thrive in a highly competitive world and banking industry is no exception to it. Throughout the globe the service sector of the economy is going through a period of utmost revolutionary changes brought by highly competitive, complex and demanding business environment. Static, permanent and traditional organizations working in a predictable world are giving way to flexible, adaptive and innovative organizations more suited in a new world of change and transformation. In the rapidly changing scenario, it is the human resource in terms of committed employees who will be the drivers of growth. With the implementation of landmark reforms in the financial sector, banking sector in India has witnessed vast changes with the removal of bureaucratic controls, encouragement to private and foreign investment and integrating Indian banking system with the global economy. The entry of new private banks and foreign banks is posing a challenge to the public sector banks. In this new era of multiple changes, the empowerment of the employees can bring change in the organization culture and influence the working environment. Committed human resources are necessary to bring radical changes in the public sector banks. In this light, Banks require a process of transformation by bringing in radical shifts in the mind set, outlook and perspective of their employees with visionary involvement. The purpose of the current study is to examine the empowerment of the employees by revamping the training system with special emphasis of award staff employees of a premier public sector bank in the state of Odisha.