FREE CAIIB NOTES ON BUILDING AN HR STRATEGY- STRATEGY FORMULATION AND IMPLEMENTATION
In today’s article, you will learn about Strategy Formulation and Implementation from the CAIIB syllabus 2022.
Certified Associate of the Indian Institute of Bankers (CAIIB) is an abbreviation for Certified Associate of the Indian Institute of Bankers. These examinations are held twice a year by the IIBF (Indian Institute of Banking and Finance). The IIBF has brought together more than 700 banks and financial institutions since its founding in 1928. It’s one of the IIBF’s specific assessments aimed at getting the best out of current members of the Indian Banking and Finance Foundation. This experiment is being carried out to see how different methods for developing dynamic and general financial management may be evaluated. There are two mandatory papers and one optional paper in this course. CAIIB is well-known in the financial industry, and it is expected to deliver superior dynamics knowledge and skills. RBI, SIDBI, NABARD, and local banks are among the company’s main competitors.
Human resource management:
HRM stands for human resource management, and it looks at personnel as company assets. Human capital is a term used to describe personnel in this context. Employees, like other corporate assets, must be used effectively to minimize risk and maximize return on investment. The practice of recruiting, hiring, deploying, and managing personnel is referred to as human resource management (HRM). The HR department of a corporation or organization is normally in charge of developing, implementing, and monitoring policies that regulate employees and the company’s interaction with them.
Read Also: ROLE OF HUMAN RESOURCE PROFESSIONAL IN BANKS
HR Strategy formulation and implementation
The risk of strategic HRM becoming nebulous — good to have but difficult to implement – is always present. The risk of creating a rhetorical chasm between rhetoric and reality is extremely high. Statements of strategic aims that are broad and often bland are easy to come by. What’s more difficult is turning them into workable strategies that can be effectively implemented. More than thinking about things, strategic HRM is about getting things done. It leads to the development of HR strategies, which first establish what an organization plans to accomplish to achieve defined goals in overall human resource management policy and specific areas of HR process and practice, and then detail how those goals will be achieved.
HR plans are usually implemented and altered once a year to keep up with the rest of the company. This will assist in keeping the company’s focus fresh and current with industry changes. This step-by-step tutorial will walk you through the stages of developing and implementing successful human resource strategies. It will assist you in developing a strategy that focuses on business objectives and HR’s involvement in achieving them.
Gratton (2000) recommends the following six-step approach:
- Create a guiding coalition by bringing together people from all areas of the company.
- Visualize the future – develop a shared vision of critical areas.
- Identify the gap between current capabilities and future aspirations – determine “where the organization is now and the gap between future aspirations and current reality.”
- Make a system map – “ensure that the parts can be put together to form a meaningful whole.”
- Model the system’s dynamics, making sure to account for the future’s dynamic nature.
- Turn ideas into action — decide on broad action topics and specific challenges connected to those themes, build guiding principles, including line managers, and form cross-functional teams to identify targets and performance indicators.
Read Also: FUNDAMENTALS OF HRM | FREE IIBF HRM NOTES
Dyer and Holder (1988) created the following framework for designing HR strategies:
- Determine feasibility – From an HR standpoint, feasibility is determined by whether the number and types of key people needed to make the proposal successful can be obtained in a timely and cost-effective manner, as well as whether the strategy’s behavioral expectations are realistic (eg retention rates and productivity levels).
- Determine desirability – consider the impact of a strategy on sacrosanct HR policies (for example, a rapid retrenchment strategy would have to be questioned by a company with a full employment policy).
- Establish objectives – these are the main issues to be addressed, and they are derived primarily from the business strategy’s content. Reduced labor expenses, for example, are required as part of a strategy to become a lower-cost producer. As a result, two types of HR objectives emerge: higher performance standards (contribution) and lower headcount (composition)
- Determine how you’ll achieve your objectives – the general rule is that the better the external and internal fit, the better the strategy, which is in line with the need to adapt flexibly to change. The degree of concordance between HR goals and the demands of the underlying business strategy and relevant environmental factors is referred to as external fit
CAIIB STUDY MATERIAL FOR EXAMS 2022
IIBF LEARNING CENTRE would supply you with HRM notes so that you could study and comprehend HRM for CAIIB 2022 with ease. CAIIB information and tools are available from the IIBF to help applicants pass the exams. Make the most of these CAIIB study aids and quick notes to gain conceptual knowledge. These notes will assist you in covering the whole CAIIB EXAM 2022 syllabus in a short time while also making the topics very clear. The notes that are provided to you are made by keeping in mind the HRM SYLLABUS 2022.
HRM SYLLABUS 2022 consists of the following –
Human Resources Management in Banks, Organizational Behavioral Dynamics, Concepts, Policies, and Practices, Organizational Change and Development, Knowledge Management in Banks, and other topics.
Performance Management and Appraisal Systems, Organizational Communication, Strategy Formulation and Implementation, and Manpower Planning are all part of developing an HR strategy.
Motivation, Training, and Skill Development – Training Methodology, Organizational Human Implications, and Training and Development
Workers’ Participation in Management, Personnel Function, Grievance Redress, and Discipline are all topics covered in Personnel Management and Industrial Relations.
What do we provide in our CAIIB MATERIAL 2022?
We proffer you many facilities like:
- Detailed video lectures to make sure you understand the concepts with ease.
- All the video lectures and notes are according to the HRM SYLLABUS 2022.
- We have experienced tutors who are not only compassionate but also strict to keep you on the track with preparation.
- Question bank including previous year questions along with chapter-wise questions.
- Our app is accessible with an Android, iOS, or laptop anywhere anytime you want.
- The video lectures are a mixture of Hindi and English.
- The most recent pattern Exam is followed.
- Our IIBF Learning center and IIBF.info would give you free ePDF notes which would make your learning much easier.
Enroll in Learning Sessions CAIIB CLASSES if you’re preparing for CAIIB 2022 or have already started studying for a better comprehension of the concepts and exam patterns which would help you succeed on the first attempt at the CAIIB exam.