GROUP 7:

Aditya Agrawal A003

Nakul Chopra A015

Rubal Dhawan A016

Neeraj Gurbani A020

Gareema Saboo

A043

Karan Shah A050

Aditya Marphatia A057

In-House Training Practices &

Effectiveness Assessment for the BFSI Sector

BFSI SECTOR – NEED FOR TRAINING

• Dynamic Environment• Complex and Demanding Jobs• Service Industry – Customer Service is of

prime importance

BFSI SECTOR OVERVIEW

• India's Rs 64 trillion backbone of the economy.• 6% contribution in India’s GDP• 11.5% CAGR• 79 national banks• 1,04,500 ATMs• 7 branches per 1,00,000 people

INTRODUCTIONTraining Needs Assessment

OBJECTIVES AND

SCOPE & LIMITATIONS OF THE STUDY

Understand in-house training, its needs and methods

Analyze effectiveness of the

training systems

Differences in the effectiveness of

training in public and private sectors

Satisfaction level of the employees

SCOPE AND LIMITATIONS OF THE STUDY

We have studied a public, a foreign private company and an Indian private company in the BFSI sector.

There are a few limitations of our study :=> Dependency on interviews as part of primary research=> Internal information might not be disclosed by employees

RESEARCH METHODOLOGY

Primary and Secondary Research

Research Methodology

• Exploratory

Primary Research

• Questionnaire

• Telephonic / personal interview

Secondary Research

• Websites

• Textbook

TRAINING PROCESS

Need Assessment, Content, Delivery and Evaluation

TRAINING NEED ASSESSMENT

• Organization

• Task

• Person

TRAINING CONTENT

• Objectives

• Methods

• Designing

TRAINING DELIVERY

• Delivery Mechanisms

TRAINING EVALUATION

• Reaction

• Learning

• Behavior

• Result

Goldman Sachs is one of the largest investment banking companies in the world. It offersa variety of financial services to its clients present in over 30 countries. It is also one of thelargest recruiters from campuses in many countries.

COMPANY OVERVIEW

Goldman Sachs, ENAM, Bank of India

ENAM is a leading financial company in India. It has offices in a few countries in South Asiaand client across the globe. It mainly recruits laterally and provides its employees withopportunities to enhance their skills for faster growth.

Bank of India is an Indian state-owned commercial bank and has a large number ofbranches across the country. It has one of the largest holdings and a very high number ofcustomers.

REASONS FOR SELECTION

• Varying Culture• Scale of Operations• Varying needs of the Organisation

OBJECTIVE : To help people grow professionally with the on-going development overthe course of their careers

TYPES OF TRAINING : Formal training programs such as ‘Symposium’ and ‘Firm wideAnalyst and Associate Orientation’ & Informally through meetings, projects and dailyinteractions.

NEW RECRUITS Access to Online resources Encourage managers to reach out to new hires prior to their joining Day One Orientation - a firm wide program to introduce the culture &core values First 100 days email program - consists of an email each week for the first 16 weeks of

employment

EXISTING EMPLOYEES GSU (the internal training and development function) : GSU programs cover leadership

development, market training, diversity, culture & professional skills ‘Pine Street' (leadership academy for global senior management ) -developing firm’s

global leaders

GOLDMAN SACHSIn House Training

SOURCE: Abhey Bansal, Analyst in Treasury Department & Anubhuti Ahuja, Analyst at Investment Banking Division

TRAINING CONTENT & DELIVERY

Buddy System & learning from real life scenarios Curriculum based on the latest theories from leading authors & management

professionals Methodology -> e-learning & usual activities like Paper Presentations, Role plays etc Regulatory training on issues including Anti Sexual Harassment, Anti-Bribery and

Trading

EVALUATION & ASSESSMENT

Professional Development Plan (PDP) -> On-the-Job performance & behaviour Strictly evaluate the understanding of regulatory aspects of banking and financial

services sector

GOLDMAN SACHSIn House Training

“At Goldman Sachs, we recognize that learning is a competitive advantage, and we are committed to helping our people reach the peak of their capabilities.”

Kolb’s Learning Cycle for GOLDMAN SACHS

ASSIMILATING

Emphasizes on

inductive learning

and create models

and theories

DIVERGING

• Emphasises on

innovative and

imaginative

approaches

• “Firm wide

Analyst” and

“Buddy Initiative”

1

ACCOMMODATING

• Adaptable to

changing

circumstances

• GS is flexible in

their training styles

and in updating

their modules

2

3

CONVERGING

• Emphasizes on

practical

applications

• Technical skills in

GS are taught

through practical

problems

4

Kolb’s Learning Cycle has four styles of learning of an individual

TRAINING CONTENT & DELIVERY

OBJECTIVE : To prepare employees to adapt to new changes in the wealth management industry and to motivate them

TYPES OF TRAINING : The training programs can be Technical programs or soft skills programs

ENAM ASSET MANAGEMENTIn House Training

Third-party trainers or corporate training institutes Training Need Assessment Form filled by employees On-the-job methods (mostly): mentored by senior analysts; opportunities to

participate in discussions Off-the-job methods (rarely) : organized by the management to encourage team

building

EVALUATION & ASSESSMENT

No fixed technique and time frame to evaluate and assess More emphasis is put on on-the-job performance and a training feedback form

SOURCE: Mr. Rajesh Khona, Director & Ms. Supriya Kulkarni, Manager - HR

TRAINING CONTENT & DELIVERY

OBJECTIVE : To inculcate comprehensive understanding and knowledge of the products which is in offering

TYPES OF TRAINING : Training an on-going process; conducted for a period of two weeks & three times a year Standard programmes Role orientation courses Special courses and seminars on various aspects of Banking sector Sales training for clerical staff

BANK OF INDIAIn House Training

National Institute of Banking Management (NIBM) - design the courses Conducted by senior employees or retired employees in seven centers across India Methodology - Presentations and Lectures and Case Studies

SPECIAL ASPECTS IN BANK OF INDIA’S TRAINING MODULE

Hired through entrance exam; 2 year training; Evaluated during the probation period Special concept of training the retirees

SOURCE: Sanjay Joshi, HR Manager at Bank of India

BASIS Goldman Sachs Enam Asset

Management

Bank of India (PSU)

Hiring Pattern Campus Recruitment Lateral Hiring Entrance Exam (Open

to all)

Infrastructure No dedicated training

center

No dedicated training

center

Seven dedicated

training centers have

been set up across the

country

Training

Methodology

More focus on off the job

training that is giving the

new hire a comprehensive

understanding of the

aspects of business

Lateral hires are

directly put on the job

BoI focuses on both on

and off the job training

Content Design In-house Third-party (Corporate

trainers)

Third-party (NIBM)

COMPARATIVE ANALYSIS (1/2)

Findings of the Study

COMPARATIVE ANALYSIS (2/2)

Findings of the Study

BASIS Goldman Sachs Enam Asset

Management

Bank of India (PSU)

Training Content Leadership

development, advanced

technical skills,

improving group

dynamics

Leadership

development, advancing

technical skills,

improving group

dynamics

Soft skills, sales,

banking technical,

retirement planning

and facilities

Training Delivery Active participation

involving role plays,

presentations

Group learning through

role plays and

presentations

Class-room learning

Training Choice Structured compulsory

program

Choice of training

provided to

Employees

Structured compulsory

program

TRAINING EFFECTIVENESS ASSESSMENT(1/4)

Evaluation of the Training

• How well the training program met the learner’s needs and objectives?

• What positive and desirable change that the training has brought to the learners’performance?

• What are the benefits that the organization has achieved?

TRAINING EFFECTIVENESS ASSESSMENT(2/4)

Evaluation of the Training

15

5

12

0

2

4

6

8

10

12

14

16

Goldman Sachs Enam Asset Management Bank of India

Number Of Training Programs (Last One Year)

TRAINING EFFECTIVENESS ASSESSMENT(3/4)

Evaluation of the Training

3

12

24

0

5

10

15

20

25

30

Goldman Sachs Enam Asset Management Bank of India

Nu

mb

er

of

Mo

nth

s

Time Gap Between Consecutive Training Programmes

TRAINING EFFECTIVENESS ASSESSMENT(4/4)

Evaluation of the Training

1 1

2

0

0.5

1

1.5

2

2.5

Goldman Sachs Enam Asset Management Bank of India

Nu

mb

er

of

year

s

Time Gap Between Module Modification

CONCLUSION

• Requirement of coherent corporate culture rather than ad-hoc programmes for thedevelopment of an integrated and proactive training and development strategy.

• Despite the different methods and approaches followed, all the organizations, whetherprivate or public, give due consideration to training and development to enhance theemployees skills and knowledge to satisfy the customers.

• Growth of banking and financial services sector in India is the result of skilled manpowerwhich is the outcome of sophisticated training and development programmes.

• Moreover, the methodology and the focus areas of the Training programmes areprimarily governed by the level of competitiveness in the respective industry andthus, we see great variation in the sector-wise findings.

LEARNING

• With this project we were able to understand the differences in training styles andmethodology of a large MNC and a public sector bank.

• To our surprise we found that there is better infrastructure and more structuredprograms for training in the public sector organizations.

• Moreover, by analyzing the training programme at ENAM Asset Management, we gotan insight into the training methodology of an organization which believes in Lateralhiring; as opposed to Goldman Sachs and Bank of India’s policies of hiring younggraduates.