A study of Effectiveness of Human Resource Management Practices Relevant as Marketing Tool in Banking Sector in Indore, M.P., India

Over the years of my own experience in corporate sector, it was noticed that HR department function as a supporting role to all other departments especially marketing department. But, studies still overlooks that the efficiency of marketing department depends on the efficiency of HR department support system. If Human resource department is not supporting the marketing department with respect to salaries, incentives, morale, training, manpower requirement, branding etc.it is not possible for the marketing person to focus on product sales, my study will help banking sector develop a link between both these departments so that the gap between them is bridged and this model can be followed by other banks also.

The purpose of this paper is to study the effectiveness and relevance of HRM practice as marketing tool. For reaching our goal we have first analyzed and examined the unique HRM practices implemented by different banks in Indore and also the functions namely Manpower planning, Staffing practices, Training and career development, Performance Appraisal, compensation and Incentive, Unionization, team work, Employee participation and Working conditions which form exclusive part of HRM practice, followed in various banks.

After this we were able to find out the effectiveness and relevance of these identified exclusive HRM practices as a marketing tool in banking sector.