FACTORS AFFECTING THE CAREER DEVELOPMENT OF STAFF IN THE BANKING SECTOR: A CASE STUDY OF A PRIVATE BANK OF SRI LANKA
DOI:
https://doi.org/10.17501/icoss.2017.4104Keywords:
career development, banking industry, private banking employeesAbstract
Sri Lankan banking industry is playing a major role in the Sri Lankan economy and the perception to get a banking employment is so high in Sri Lankan mind sets due to its’ prestigious social status within the country. However, after getting involved in to the employment as a “Banking assistant” there are several aspects a banking employees’ life cycle would affect due to the highly competitive Sri Lankan banking sector. This study is an attempt to investigate the career development of staff in the private banking sector of Sri Lanka. A case study approach has been selected based on a Sri Lankan leading private sector bank which consisted 159 branch network all over the island. The main aim of this study is to determine the significant factors which effect the career development of employees in XYZ banking Plc. Seven independent variables namely; Training, Organizational goals, Career education, empowerment, individual attitudes, individual career mapping, self-appraisal were selected from main two areas such as Organizational Career planning and Individual career planning to determine the relationships with employee career development. Results were produced by 93 respondents out of 158 sample size. Study results revealed Training, Organizational Goals, Career Education, Empowerment and self-appraisal are significant factors for the career development. Moreover, results showed that Training, Career mapping, Individual attitudes have significant differences between groups in terms of “Gender” and Training, Organizational Goals, career education, Empowerment, Individual attitudes, Career Mapping, Self-appraisal have a significant difference between groups in terms of “Age”.
Downloads
References
Abdul, H and Aamer, W., (2011). Employee Development and its Affects on Employee Performance A Conceptual Framework. International Journal of Business and Social Science. 2(13): 224-228
Allport, G. W. (1935). Attitudes. In Murchison C. (Ed.), Handbook of social psychology (pp. 798–844). Worcester, MA: Clark University Press.
Ardeniji, A, A. and Osibanjo, A, O., (2012). Human Resource Theory and Practice. Pumark Nigeria Limited, Lagos p 437.
Armstrong, M., (2001) Human Resource Management Practice handbook, 8th ed. London: Kegan Page Ltd
Baruch, Y. (2003). Transforming careers—from linear to multidirectional career paths: Organizational and individual perspective. Career Development International, 9(1), 58–73
Baruch, Y., & Rosenstein, E. (1992). Career planning and managing in high tech organizations. International Journal of Human Resource Management, 3(3), 477–496.
Bezuidenhout M,Grobler A and Rudolph, E.C (2013). The utilization of a Career Conversation Framework Based on Schin’s Career Anchors Model.University of South Affrica, South Affrica: 1-10
Bollen, K.A. & Long, J.S. (1993) [Eds.] Testing structural equation models. Newbury Park, California: Sage, 136–162.
Browne, M.W. & Cudeck, R. (1993). Alternative ways of assessing model fit.
Central Bank Sri Lanka, (2014).
Coetzee, M, and Schreuder, D. (2009). Using the Career Orientations Inventory for Measuring Internal Career orientations in the south African organizational context. South African Journal of Industrial Psychology. 35(1): 1-13.
Creative Research System, (2016). Sample Size Calculator. [Online] Available at: http://www.surveysystem.com/sscalc.htm. [Accessed on 2/02/2016]
Delaney, J. T. and Huselid, M. A. (1996). The impact of human resource management practices on perceptions of organizational performance. Academy of Management Journal, 39(4), 949-970.
Dessler, G. (2006). A framework for human resource management. New Jersey: Pearson/Prentice Hall
Egan, G. (1975). The skilled Helper. A Problem- Management and opportunity- Development Approach to Helping. Monterey: Brooks/Cole
Feldman, D, C, and Bolino, M, C., (2001) Careers within Careers: conceptualizing the nature of career anchors and their consequences. [Research Paper] University of south Carolina
Fey, C. F., Pontus, E., and Ingmar, B. (1999). Effective human resource management practices for foreign firms in Russia. Organizational Dynamics, 28(2), 69-80.
Glasser, W. (1965). Reality therapy. New York: Evanston and London: Harper & Row
Graham, H, T., & Bennett, R., (1995). Human Resource Management, 8th Ed, London: The M & E Handbook series, Longman Group U K Ltd.
Gutteridge T. G, Zandy B. Leibowitz, Jane E. Shore, (1993) Published by Pfeiffer, ISBN 10: 1555425267 / ISBN 13: 9781555425265 Organizational Career Development: Benchmarks for Building a World-Class Workforce (Jossey-Bass Management)
Hackman, J.R. (1986). The psychology of self-management in organizations. In Pallack, M.S.; Perloff, R.O. (eds). Psychology and work: productivity, change and employment. Washington DC: American Psychological Association
HSBC, (2014). Annual Report 2014. Colombo: HSBC PLC
Ivancevich, J. M. (2001). Human Resource Management. (8th Ed.). New York: The McGraw-Hill Companies, Inc.
Jöreskog, K. and Sörbom, D. (1993), Structural Equation Modeling with the SIMPLIS Command Language. Chicago, IL: Scientific Software International Inc.
Jukova M. and Konstantin, K. (1998). From a personnel department in Soviet Union to a human resource department in Russia. People and Labour, 8, 88-91.
Koch, J., and McGrath, R. G. (1996). Improving labour productivity - human resource management policies do matter. Strategic Management Journal, 17, 335-354.
Kotler, P., Armstrong, G., Saunders, J. and Wong, V. (1999), Principles of Marketing. Prentice Hall Europe, New Jersey: Upper Saddle River,
Kozybsky, A. (1994). Science and Sanity. Lakeville: Institute of General.
Marinka A, C, T. (2016) Career Competencies for Career Success[Online] available at: https://www.questia.com/library/journal/ [Accessed on 20/2/2016]
Mishra, B. and Sachan, D., (2012) Career Management: A Key Driver of Performance and Productivity. International Journal of Management research and Review. 2(8): 1334- 1341.
Mondy, R,W., and Noe, R, M., (2005). Human Resource Management. 9th Edition. Massachusetts: Pearson Education, Inc.
Notoatmodjo, S. (2009). Pengembangan Sumber Daya Manusia. Jalarta: Rineka Cipta
Parasuraman A, Zheitmal V, A, and Berry L, L. (1998) SERVQUAL: a multipleitem scale for measuring consumer perceptions of service quality. Journal of Retailing. 64(1): 12-40.
Penna consulting PLC(2013) Self Appraisal journal article [Online] available at http://www.acdp.pt/wp-content/uploads/2013/07/Self-appraisal.pdf [Accessed on 20/02/2016]
Parasraman, A, Berry,L.L,Zaithamal,V.A, (1988) SERVQUAL: A Multiple Item Scale for measuring Consumer Perceptions of Service Quality [Online] available at http://areas.kenan- flagler.unc.edu/Marketing/FacultyStaff/zeithaml/Selected%20Publications/SERVQUAL
[Accessed on 26/02/2016]
Rande, S., Yunus, R., Jamaluddin, A., and Zacharias, T., (2015). Factors Affecting Career Development of Employees in Secretariat Office of city Samarinda. International Scientific and Technology research. 4(3): 93-99
Rogers, C, R,. (1961) On Becoming a Person – A therapist`s View of Psychotherapy. 2London: Constable.
Rue, L, W., and Byars, L, L., (2004). Supervision: Key Link to Productivity. 8th ed. New York: McGraw-Hill/Irwin
Sarah, M, K, N, M, (2010). Career Development and staff motivation in the banking industry: A case study of Bank of Uganda. [Research Paper] Makerere University.
Seylan Bank, (2014) Strategic Plan. Colombo: Seylan PLC
Seylan Bank, (2014). Annual Report 2014. Colombo: Seylan Bank PLC
Siagian, S, P., (2003). Manajemen Sumber Daya Manusia. Cetakan Kesepuluh. Jakarta: Bumi Aksara.
Sussie L, P., and Hall L, M., (2005). in Developmental career Coaching” p6, 7, 22, 18,
Terpstra, D. E., & Rozell, E. J. (1993). The relationship of staffing practices to organizational level measures of performance. Personnel Psychology, 46: 27-48.
Wilensly, H, L., (1961). Careers life style and social Integration. International social science Journal. 12(1): 553-558
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
