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BoI to have integrated HR framework

Bank of India is planning to engage a consultant to advise it on the implementation of an integrated HR framework in the bank. Broadly, the bank intends to initiate and institutionalize globally competitive HR practices and to enhance its brand image. As part of this plan, it wants to put in place relevant HRD strategies and use modern methodologies to undertake organisational renewal; identify and nurture talent, bring about marked changes in the mindset of employees at all levels so as to enhance HR quality; create a performance-driven culture and an exciting workplace for the employees, create a pool of entrepreneurial managers and business leaders for future; and inculcate a strong and effective sales and service culture across levels in the organization. At present, the average age of employees of the bank is high and substantial proportion of the bank’s senior team is to retire over the next 3 years taking with them a vast amount of experience and expertise and leaving behind a need to develop new skill sets quickly. The bank is also going through business and technology transformation and massive re-skilling is required. The challenge for the bank is that transformation of HR has to be conducted concurrently with business transformation. As such, the bank wishes to appoint a competent consultant to provide assistance for formulating and implementation of an integrated human resource framework for the bank, and carrying out various initiatives under the same as part of the overall project plan. Among the top priority tasks to be entrusted to the consultant will be redesigning of overall HR strategy and its alignment with business imperatives, empowering the frontline staff and operationalisation of single window concept, creating a recruitment / talent induction model to attract talent as well as to ensure sustained growth in head count in line with business growth.

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