Encourage Extra Ordinary People to Collaborate with Your Bank | Build Your Referral Network | It is a Resource Pool for them | Global TV
NV Paulose, Chairman, Global TV +91 98441 82044
Human Resource is one of the most underutilized assets in India. It is not the case in advanced countries that are cash rich and rewarding people for their labour.
To drive unparalleled socio-economic growth, India must correctly tap its immense potential, which is rooted in its rich pool of skilled, creative, and adaptable talent. By harnessing this potential, India can unlock innovative solutions to complex challenges, foster entrepreneurship, and create opportunities for inclusive and sustainable development.
When India take a lead to redesign the approach and continues to invest in our human capital, we as a nation will undoubtedly emerge as a global leader, driving growth, prosperity, and positive change for generations to come.
The idea of HR Banking focuses on utilizing, nurturing, and strategically investing in human resources in much the same way financial institutions manage monetary capital.
The Concept of HR Banking
HR Banking shifts the traditional view of human resources as merely “workforce management” to treating it as an investment portfolio. Instead of money deposits, it’s about identifying, developing, and mobilizing human capital in a way that yields sustained organizational and societal returns.
This is another way for banking on passion and compassion. Allowing people to do what they love to do and convert them into the wealth of the nation. Give them their share and give the nation it’s due share.
Make a balance between everyone and everything that we do.
Think of India as a massive “human resource bank” filled with untapped potential, waiting to be channeled through structured savings and intelligent investments. This wealth, unlike financial capital, grows exponentially when nurtured and distributed wisely.
Key Elements of HR Banking
HR Savings (Talent Pooling):
Make your calculations per hour. Include those who can save at least an hour in a day. Team formation, role creation, Spectrum Selection are the initial steps and the rest will take momentum automatically. Connect, Connect and Connect at every level from to local to global.
Just like financial savings, building a pool of talented individuals is the first step. Identifying potential across rural and urban landscapes is crucial. Youth, retired untired, enterprising women, and skilled professionals form part of this savings account.
HR Investments (Skill Development, Formation, Demonstration and Deployment):
Have you ever seen an Air Show? How different is it from a flight journey?
Strategic investments in professional education, Efforts in building emotional and behavioural patterns, training and facilitation of innovation, mutual mentoring, future mentoring, scaling, skilling and upskilling etc. are terms to be understood first and implemented instant. Who will make sure and ensure that this talent pool remains relevant and competitive? Deploying these resources into high-impact service sectors further multiplies their value.
It is very difficult to break a pattern once it is set. Ask with any banker about Micro financing and they will tell you about Non Banking Financial Services. They do not understand that you are able to pay even ₹1/- through the mainstream banking applications. Anything and everything is like that. Can you think about a program without welcome speech and vote of thanks? Why can’t we innovate everything with improved versions?
Think new and inspire curiosity. Be like a thrilled and curious child when you are at the work of your passion.
Interest Earnings (Societal Impact):
When human capital flourishes, the benefits extend beyond organizational success. Communities thrive, local economies grow, and innovation flourishes.
With a large, youthful population, India has an incredible demographic dividend waiting to be tapped.
Unlike many advanced countries with restrictive work permits and legal constraints, India enjoys greater flexibility for workforce mobilization.
Leveraging human resources effectively can address challenges like unemployment and underemployment while boosting sectors such as tourism, housing, farming, agro processing, manufacturing, technology, leisure, events, entertainment and services.
Steps to Build an HR Banking Ecosystem
Establish HR Savings Platforms:
Create networks and databases that pool talent from diverse backgrounds, including informal sectors and rural regions.
Invest in Skill Development:
Launch large-scale upskilling and reskilling initiatives across industries, ensuring people remain efficient and adaptable.
Formation of Career Clubs:
Career Clubs are organized groups of professionals who share knowledge, experiences, and resources to enhance their skills and advance their careers. These clubs provide a platform for networking, skill development, and industry insights, helping members stay up-to-date and informed. By joining a Career Club, individuals can connect with like-minded professionals, gain valuable connections, and access new opportunities.
Measure Societal ROI:
Track the impact of HR investments not just in economic terms but also in terms of societal growth and innovation.
Job Creation and Economic Empowerment: Strategically investing in human resources drives job creation across sectors.
Increased Innovation: Diverse human capital fuels creativity and problem-solving capabilities.
Enhanced Productivity: Proper deployment of human resources boosts national and organizational productivity.
Social Development: Empowered individuals contribute meaningfully to their communities.
HR Banking offers a visionary framework for revolutionizing how human resources are perceived and utilized, particularly in India. By treating human talent as the country’s greatest asset and investing in its development and deployment, India can unlock unparalleled growth and prosperity.
It’s time to recognize that while financial capital drives industries, it’s human capital that builds nations.
