YES BANK: Human Capital Initiatives of a Startup in the Indian Banking Industry
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"We believe that high quality Human Capital is the biggest asset in an organization and have been focused on attracting and retaining the best talent from India and abroad. We believe that best performance can only be achieved through empowered employees and therefore, we offer all YES BANKers an opportunity to work in a growth environment with a young work force."1
- Rana Kapoor, CEO and Managing Director, YES BANK, in 2007.
"Although a startup bank, YES BANK has laid critical importance to Human Capital. The Bank has focused on attracting and retaining the best talent from the Financial Services sector from India and also from abroad. The management talent at YES BANK in a very short span of time is already considered to be amongst the best in the Indian banking sector, laying a strong foundation of enduring trust."2
- Intel Solution Services3, in 2006.
"The company believes that employees are the key to building a strategic, comparative advantage and enabling its business strategy of knowledge-based banking and service differentiation."4
- Financial Express5, in 2004.
Banking on its Human Capital
Yes Bank was incorporated in 2003. Since it started its banking operations in 2004, the bank had experienced unprecedented growth in the Indian banking sector. Analysts felt that this was a significant achievement for a bank which had started late in a highly crowded market when compared to other new age private sector banks. The bank had charted a strategy that helped it differentiate itself from others in the banking sector. It differentiated itself from other players in the industry through its unique 'knowledge banking approach', emphasis on technology, and human resources. The knowledge banking approach was its main pillar of differentiation and, using this, it provided specialized services to various sunrise industries through domain experts.
1] "Yes Bank Awarded CEO with HR Orientation," www.moneycontrol.com, September 1, 2007.
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