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LEARNING AND DEVELEOPMENT PROJECT

SKILL GAP ANALYSIS

UNDER THE GUIDANCE OF DR. ARCHANA CHOUDHRY

SUBMITTED BY:
SONAL PRIYA 23PG101151
SONALI SINGH 23PG101152
SUDHARANI SWAIN 23PG101170
SURAVI ROY 23PG101174
SWAGAT NAYAK 23PG101178
SWASTIKA SINGH 23PG101180
 ACKNOWLEDGEMENT
We would like to express our sincere gratitude to Dr. Parameswar Nayak, Dean of the Birla School
of Management, Birla Global University, and Dr. Archana Choudhury, Head of Department at Birla
School of Management, Birla Global University, for their invaluable guidance, support, and
contribution towards the development of the research, "Skill Gap Analysis in Banking Domain."

Their expertise and insights have been instrumental in shaping the direction of this study and
ensuring its relevance to the field of management. We deeply appreciate their dedication and
encouragement throughout this research endeavor.

Thank you for your unwavering commitment to academic excellence and your continued
mentorship.
 TABLE OF CONTENT

CHAPTER NO CHAPTER PAGE NO.

1 INTRODUCTION 1-2

2 METHODOLOGY 2-3

3 FINDINGS AND ANALYSIS 3–9

3.1 HDFC BANK 3–5

3.2 IDBI BANK 6–7

3.3 STATE BANK OF 8 – 9

INDIA

4 COMPARTIVE ANALYSIS 10

5 OBSERVATION 11

6 CONCLUSION 11

7 LIST OF TABLES 12
1. INTRODUCTION

A skill gap is the difference between skills that employers want or need, and skills their workforce
offers. We conduct a skills gap analysis as it helps us to identify skills that an organization needs to
meet the business goals. It is a process used by organization to assess the disparity between the skills
that employees possess and the skills that are required to perform their roles effectively. It involves
identifying the skills that are currently available within the workforce, comparing them to the skills
that are needed for current or future tasks, and then developing strategies to address any gaps that
are identified. To conduct a skill gap analysis, certain steps are followed that are as below:

1. Identify roles and skills: We Start by identifying the specific roles within organization and
the key skills required for each role. This involves reviewing job descriptions, competency
frameworks, or consulting with managers and subject matter experts.
2. Assess Current Skills: Evaluate the skills of employees against the identified skill
requirements for their respective roles. This can be done through various methods such as
self-assessments, manager assessments, performance evaluations, or skills inventories.
3. Collect Feedback: Gather feedback from employees, managers, and other stakeholders to
gain insights into perceived skill gaps and areas for improvement. Surveys, focus groups,
interviews, and performance reviews are some ways to gather feedback effectively.
4. Analyse Data: Analyse the data collected from assessments and feedback to identify patterns
and trends in skill gaps across different roles and departments and look for common themes or
areas where there is a significant disparity between desired and actual skills.
5. Prioritize Skill Gaps: Prioritize skill gaps based on their impact on business objectives,
criticality to job performance, and feasibility of addressing them. We focus on addressing skill
gaps that have the most significant impact on organizational success and employee
performance.

6. Develop Action Plans: Develop action plans to address the identified skill gaps. This
involves a combination of training programs, workshops, mentoring, on-the-job learning
opportunities, job rotations, or hiring external expertise.
7. Implement Training and Development: Implement the action plans and provide employees
with the necessary resources and support to acquire the required skills. Ensure that training
programs are tailored to address specific skill gaps and are aligned with organizational goals.
8. Monitor Progress: Monitor the progress of employees in closing the skill gaps over time.
Track key performance indicators, such as improved job performance, increased productivity,
or higher employee engagement, to measure the effectiveness of interventions.

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 9. Provide Feedback and Recognition: Provide ongoing feedback and recognition to
employees as they progress in acquiring new skills. Acknowledge their efforts and
achievements, and encourage continuous learning and development.
10. Review and Adjust: Regularly review the skill gap analysis process to ensure its relevance
and effectiveness. Update skill requirements and development plans as needed to adapt to
changing business needs, market trends, and technological advancements.

2. METHODOLOGY
We have conducted the skill gap analysis in BANKING SECTOR. Skill gap analysis in the
banking sector involves assessing the disparity between the skills that employees possess and the
skills required for various roles within the industry. We have taken into consideration of three
banks and conducted interview with mangers to deduce the skill gap. We have followed certain
approach to conduct skill gap analysis in banking sector that are mentioned as below:
1. Identify Required Skills: Begin by identifying the key skills needed for different roles
within the banking sector. This can include technical skills such as financial analysis, risk
management, and regulatory compliance, as well as soft skills such as communication,
customer service, and problem-solving.
2. Survey and Interview Employees: Conduct surveys or interviews with employees across
different levels and departments to understand their current skill sets and their perception of
skill requirements for their roles. This can help in gathering qualitative data on existing skills
and potential gaps.
3. Compare Skills Inventory with Job Requirements: Analyse the skills inventory gathered
from employees against the skills required for various banking roles. Identify areas where
there are discrepancies or gaps between the existing skills and the skills needed for optimal
job performance.
4. Assess Future Trends and Technology: Consider emerging trends in the banking industry,
such as advancements in financial technology (fintech), automation, and digital banking.
Evaluate how these trends are impacting skill requirements and anticipate future skill needs
based on technological advancements and industry shifts.
5. Training Needs Assessment: Based on the identified skill gaps, develop a training needs
assessment to prioritize areas for skill development. This can involve designing training
programs or workshops to upskill employees in areas where gaps are identified.
6. Implement Training and Development Programs: Roll out training and development
programs tailored to address the identified skill gaps. These programs can include classroom
training, online courses, workshops, mentoring, and on-the-job training initiatives.

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 7. Monitor and Evaluate Progress: Continuously monitor the effectiveness of the training
programs and track progress in closing the skill gaps. Collect feedback from employees and
managers to assess the impact of training efforts on job performance and adjust strategies as
needed.
8. Promote Continuous Learning Culture: Foster a culture of continuous learning within the
organization by encouraging employees to engage in ongoing skill development activities,
pursue certifications, and stay updated on industry trends.
9. Align HR Strategies with Business Goals: Ensure that HR strategies, including recruitment,
talent management, and performance evaluation, are aligned with the organization's business
goals and evolving skill requirements in the banking sector.
10. Regular Review and Adaptation: Conduct regular reviews of skill requirements and
employee capabilities to adapt to changing market dynamics, regulatory requirements, and
technological advancements in the banking sector. Update skill gap analyses periodically to
ensure ongoing relevance and effectiveness in talent management strategies.
3. QUESTIONNAIRE:
Bank:
Name:
Designation:
Department:
1. To be hired for your current position what are the current skill one need to possess?
2. Are they the same skills required to be hired for other position as well? If no, what are the basic
skills required for other position as example?
3. Since all the domains are undergoing innovations, there must be requirements of certain skills in
future. To be hired in future what will be the skills required by the bank?
4. What are your current training and development programs carried on? Are the same will be
continued in future time as well?
5. Are there any other strategies planned for training and development in nearby future?
6. Do you find any gap in skills of the employees hired and does the bank take any necessary
actions to reduce down the gap? If yes, what are they?

4. FINDINGS AND ANALYSIS

1. HDFC BANK:
HDFC Bank Limited is one of India's largest private sector banks, offering a wide range of financial
products and services to individuals, businesses, and corporate clients. Incorporated in the year 1994
as a subsidiary of Housing Development Finance Corporation Limited (HDFC), India's leading
housing finance company. The bank's leadership includes a Board of Directors led by the Chairman
and Managing Director. Over the years, HDFC Bank has had several prominent figures leading its

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operations, including managing directors and CEOs. HDFC Bank offers a comprehensive range of
banking and financial products and services, including:
 Retail Banking: Savings accounts, current accounts, deposits, loans (personal loans, home
loans, auto loans, etc.), credit cards, debit cards, wealth management services, insurance, and
investment products.
 Wholesale Banking: Corporate banking, working capital finance, trade services, treasury
services, cash management services, and forex services.
 Rural and Agricultural Banking: Financial products and services tailored to meet the needs of
rural and agricultural customers, including agri-loans, Kisan Credit Cards, rural savings
accounts, and farmer advisory services.
 Digital Banking: HDFC Bank has a strong digital presence with internet banking, mobile
banking, online payments, and other digital services to provide convenience and accessibility
to customers.
By conducting this skill gap analysis for the role of branch managers at HDFC Bank we got the
insights on how the bank can ensure the necessary skills and competencies that the branch managers
need to possess to drive branch performance, deliver exceptional customer service, and achieve
business objectives
We have conducted the interview with Mr. Bhabani Shankar Sahoo, Branch manager, HDFC
Bank, Patia. He provided his valuable response to so as to help us conduct the skill gap analysis on
the concerned post for HDFC Bank and the analysis is recorded in the tabular form.

MR. BHABNI SHANKAR SAHOO

BRANCH MANAGER
HDFC BANK, PATIA, BHUBANESWAR

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 SKILL GAP ANALYSIS FOR THE POST OF BRANCH MANAGER
CURRENT SKILLS FUTURE SKILLS ANALYSIS
 Leadership and management skills –  Digital banking Expertise –  Leadership and management
supervising staffs, setting goals, Expertise in mobile banking skills are required both at
managing performance and resolving apps, online platforms and present and in future. So, they
conflicts. digital payment systems. need to be assessed carefully at
the time of hiring.
 Problem solving and decision  Data Analytics Skills –
making – Ability to identify issues, Proficiency in data analytics to  The Managers are expected to
analyse root cause and implement derive insights to make data- go through the Internal Software
effective solutions. driven decision and personalize Pathway for their training and
service for customers development in Problem solving
 Technical Banking Knowledge – and decision making and Digital
Understanding of banking products  Financial advisory skills – banking and Data Analysis.
and services such as loans, mortgages, Need to have strong financial
credit cards, investment and insurance acumen and also need to have  Orient them with their
ability to provide sound responsibilities such as
 Technology proficiency – financial advice to customers Overseeing daily branch
Understanding of banking software operations, managing customer
and technological tools  Ethical conduct and integrity relationships and resolving
– Need to adhere to ethical escalated issues, Ensuring
 Customer Relationship management principles and act with compliance with regulatory
– Excellent interpersonal and transparency and honesty and requirements and bank policies
communication skill to build a strong ensure among colleges
relationship with customer and provide compliance with ethical codes  Assess their current skill by
exceptional customer service of conduct reviewing resumes, conducting
interviews and competency tests
 Cultural Sensitivity and and administering their skill
diversity management – Need assessment test or simulations
to demonstrate the skill to cater
to diverse customer need and  Develop effective training and
foster an inclusive work development program such as
environment. leadership training program,
sales and customer service
workshops, regulatory
compliance course, financial
analysis and reporting training,
Communication and
interpersonal training and
technology proficiency training.

 Promote continuous learning.

TABLE 3.1 Skill gap analysis on HDFC Bank

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2. IDBI BANK:
IDBI Bank was established in 1964 under an Act of Parliament as a wholly-owned subsidiary of the
Reserve Bank of India (RBI) initially known as Industrial Development Bank of India (IDBI), has a
rich history closely tied to India’s economic development and industrialization efforts. Its primary
objective was to provide financial assistance and support to industrial projects in India. Throughout
the 1970s and 1980s, IDBI played a crucial role in financing and promoting industrial development in
India. It provided long-term finance, equity investments, and advisory services to various industries,
including manufacturing, infrastructure, and services sectors. IDBI Bank continues to focus on
enhancing its operational efficiency, strengthening risk management practices, and improving asset
quality under the leadership of LIC. It aims to leverage its expanded customer base and distribution
network to drive growth and profitability in the future. Overall, IDBI Bank’s journey reflects its
evolution from a development finance institution to a commercial bank, its contributions to India’s
industrial growth, and its efforts to adapt to changing market dynamics and regulatory requirements in
the banking sector.
By conducting this skill gap analysis for the role of Risk Manager of Recovery Department at IDBI
Bank we got the insights on how the bank can ensure the necessary skills and competencies that the
Risk Managers need to possess to drive branch performance, deliver exceptional customer service,
and achieve business objectives
We have conducted the interview with Mr. Pritam Priyadarshan, Recovery Manager, IDBI Bank,
Patia. He provided his valuable response to so as to help us conduct the skill gap analysis on the
concerned post for IDBI Bank and the analysis is recorded in the tabular form.

MR. PRITAM PRIYADARSHAN

RECOVERY MANAGER

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 IDBI BANK, PATIA BHUBANESWAR
SKILL GAP ANALYSIS FOR THE POST OF RECOVERY MANAGER
CURRENT SKILLS FUTURE SKILLS ANALYSIS
 Financial Analysis – Strong  Data Analytics – Ability to utilize  Recovery Managers lack
understanding of financial data analytical tools to identify trends, proficiency in utilizing data
statements and ability to analyse predict defaults analytics tools for informed
financial data decision-making. There may also
 Digital Literacy – Proficiency in be a need of improvement in
 Risk Management – Proficiency using digital platforms for loan leveraging data platforms for loan
in assessing credit risks, identifying monitoring, customer communication recovery process. To recover the
potential defaults and and online dispute resolution gap IDBI bank have established
implementing strategies to mitigate in-house training on E-learning
risk platforms to cover such topics
 Cyber security awareness – such as data analytics, digital
Understanding cybersecurity risks and literacy etc
 Legal Knowledge – On banking ensuring security to customer data  There is a gap in understanding
laws, regulations, policies, during recovery process of cybersecurity awareness.
procedures related to loan recovery Therefore, training programs and
and debt collection professional development
 Regulatory Compliance – To keep initiatives are taken where the
abreast of changing regulations and managers are trained on
 Negotiation skills – Ability to compliance requirements in loan cybersecurity awareness and
negotiate with borrowers, legal recovery seminars and conferences
representatives and other encourage them to know about
stakeholders. the growing trend
 Customer-Centric Approach – Focus  Recovery Managers may need to
on understanding borrower needs and enhance their skills in
 Problem solving skills – Ability to providing personalized recovery understanding and addressing
identify problems, evaluate solutions borrower needs. To recover the
alternative solutions and implement gap, we need to facilitate cross-
effective strategies. functional training sessions that
 Collaboration and Cross-Functional
allow Recovery Managers to
Leadership – To work collaboratively
learn from colleagues in other
 Communication skills – Strong with internal and external stakeholders
departments
verbal and written communication to achieve recovery objectives
 There might be a gap in the
ability to innovate and adapt to
 Emotional Intelligence – Developing emerging technologies and
empathy and strong interpersonal skills recovery strategies. To cover the
for effective communication and gap, we need to Offer
negotiation opportunities for hands-on
learning and skill development
through on-the-job training
assignments, rotational programs,
and real-world case studies

TABLE 3.2 Skill gap analysis on IDBI Bank

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3. STATE BANK OF INDIA (SBI):
The traces of SBI can be deduced from the early 19th century. The Imperial Bank of India was
nationalized in 1955 by the Indian government, and it was transformed into the State Bank of India
under the State Bank of India Act, 1955. The State Bank of India became the principal agent of the
Reserve Bank of India and assumed the role of a commercial bank with a wider social responsibility.
SBI has expanded its branch network both within India and internationally. It has a significant
presence in rural and semi-urban areas, contributing to financial inclusion and rural development
initiatives. Over the years, SBI has diversified its operations to include a wide range of banking and
financial services, such as retail banking, corporate banking, treasury operations, investment banking,
insurance, and asset management. SBI has also undergone several mergers and acquisitions to
strengthen its position in the Indian banking sector. Notable mergers include the merger of State Bank
of Saurashtra, State Bank of Indore, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State
Bank of Travancore, and State Bank of Patiala into SBI. Today, the State Bank of India is one of the
largest and most prominent banks in India, serving millions of customers domestically and
internationally. It continues to play a vital role in the country's banking and financial landscape,
contributing to economic growth, financial inclusion, and development.
We have conducted the interview with Mr. Sanant Kumar Say, Retired Bank Officer, State Bank of
India (SBI), Sundergarh. He provided his valuable response to so as to help us conduct the skill gap
analysis on the concerned post for IDBI Bank and the analysis is recorded in the tabular form

MR. SANANT KUMAR SAY

EX-BANK OFFICER, SBI
SUNDERGARH

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 SKILL GAP ANALYSIS FOR THE POST OF FRONT MANAGER, BANK OFFICER
CURRENT SKILLS FUTURE SKILLS ANALYSIS
 Financial Acumen - Strong  Digital Literacy: With the increasing  The bank need to prioritize
understanding of financial digitization of banking services, investment in employee
principles, banking products, and proficiency in using digital platforms, training and development
services offered by SBI mobile banking apps, and online tools program focusing on
emerging technologies;
 Problem-Solving Skills:  Data Analysis and Insights: Ability
data analytics and cyber
Capability to identify issues, to analyse customer data and
troubleshoot problems, and transaction patterns to gain insights
security
implement solutions efficiently into customer behaviour, preferences,
and needs, enabling personalized  Need to establish
 Customer Service Excellence: service delivery and targeted partnerships with
Exceptional interpersonal skills marketing initiatives educational institution and
and the ability to provide fintech firms to provide
excellent customer service  Cybersecurity Awareness: employees with access to
Awareness of cybersecurity threats and specialized training and
 Communication Skills: Clear best practices to ensure the security of
certification programs
and effective communication customer data and transactions, as well
skills, both verbal and written, to as to educate customers about online
interact with customers, safety measures
 Need to encourage culture
colleagues of continuous learning and
 Fintech Integration: Familiarity with innovation where
 Sales and Cross-Selling: Ability emerging financial technologies employees need to be
to promote bank products and (fintech) and their integration into encouraged to stay abreast
services to customers, identifying banking operations, such as AI- of industry trends and
their needs, and cross-sell powered chatbots, robo-advisors, and developments
appropriate banking products to blockchain-based solutions
meet sales targets
 Need to provide virtual
 Remote Service Delivery: Ability to
 Computer Proficiency: provide seamless customer service
communication tools and
Proficient in using banking remotely through virtual channels like platforms to emphasize the
software, CRM systems, and video calls, live chat, and email, in importance of empathy and
Microsoft Office suite to manage addition to in-person interactions at the personalized service in
customer data, process front desk remote interactions
transactions, and generate reports
 Innovation and Creativity:  Provide training on
 Empathy and Emotional Cultivating a culture of innovation and strategic planning and
Intelligence: Ability to creativity to explore new ways of decision-making processes.
empathize with customers' delivering value-added services,
Encourage participation in
concerns, show genuine interest solving customer problems, and
strategic projects and
in their needs, and demonstrate differentiating the bank's offerings in
emotional intelligence in the market cross-functional initiatives.
interactions to build rapport and Mentorship programs with
trust senior leaders to develop
strategic thinking skills

TABLE 3.3 Skill gap analysis on SBI

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4. COMPARATIVE ANALYSIS TABLE 4.1 Comparative Analysis
BANK HDFC IDBI SBI
POSITION Branch Recovery Front
Manager Manager Manager
LEADERSHIP ● ●` ●
PROBLEM SOLVING ● ● ●
CUSTOMER RELATION MANAGEMENT ● ● ●
TECHNICAL BANKING ● ● ●
TECHNOLOGY PROFICIENCY ● ● ●
FINANCIAL ANALYSIS ● ● ●
RISK MANAGEMENT ● ● ●
CURRENT
SKILL LEGAL KNOWLEDGE ● ● ●
NEGOTIATION SKILL ● ● ●
COMMUNICATION SKILL ● ● ●
SALES AND CROSS SELLING ● ● ●
EMPATHY AND EMOTIONAL ● ● ●
INTELLIGENCE
DIGITAL BANKING ● ● ●
DATA ANALYTICS ● ● ●
FINANCIAL ADVISORY ● ● ●
ETHICAL CONDUCT ● ● ●
CULTURAL SENSITIVITY ● ● ●
CYBER SERCURITY ● ● ●
FUTURE
CUSTOMER RELATIONSHIP ● ● ●
SKILL
MANAGEMENT
REGULATORY COMPLIANCE ● ● ●
COLLABORATION & CROSS- ● ● ●
FUNCTIONAL LEADERSHIP
EMOTIONAL AND INTELLIGENTCE ● ● ●
QUOTIENT
FINTECH INTEGRATION ● ● ●
REMOTE SERVICE DELIVERY ● ● ●
INNOVATION AND CREATIVITY ● ● ●

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NOTE: ● REQUIRED ● MODERATELY REQUIRED ● NOT REQUIRED
5. OBSERVATION
From the Skill Gap Analysis conducted on Banking Domain, taking into consideration three reputed
banks HDFC, IDBI, SBI, we found out that in certain current as well as future factors such as Problem
Solving, Communication Skill, Digital Banking, Data Analysis, is required for all the three different
positions for the three banks. However, for other factors such as leadership, CRM, Technical banking,
Technology Proficiency, Financial Analysis, Risk management, Legal Knowledge, Negotiation Skill,
Sales and Cross-selling, Empathy and Emotional Quotient, Financial Advisory, Ethical Conduct,
Cultural Sensitivity, Cyber Security, Regulatory Compliance, Collaboration and Cross-Functional
Leadership, EQ & IQ, Fintech Integration, Remote Service, Innovation and Creativity; it depends on
the position and job responsibilities.

6. CONCLUSION
Conducting a skill gap analysis is critical for organizations that want to optimize their workforce,
improve performance, and stay competitive in today's dynamic business environment. It provides
valuable insights that inform strategic decision-making and enable organizations to invest in their
most valuable asset—their people. By addressing skill gaps proactively and investing in the
professional development of Branch Managers, HDFC Bank can ensure that its leadership team is
well-equipped to navigate the evolving banking landscape and drive sustainable growth and success.
By addressing skill gaps proactively and investing in the professional development of Recovery
Managers, IDBI Bank can ensure that its recovery operations are efficient, effective, and aligned with
the evolving needs of its customers and the banking industry. By addressing skill gaps proactively and
investing in the professional development of Front Managers Bank Officers, SBI Bank can ensure that
its front desk operations are efficient, effective, and aligned with the evolving needs of its customers
and the banking industry.
Conducting skill gap analysis in the banking domain is crucial for several reasons:
Such as Identifying Training Needs, Aligning Skills with Organizational Objectives, Improving
Customer Experience, Compliance and Risk Management, Driving Innovation and
Adaptability, Enhancing Employee Engagement and Retention, Mitigating Talent Shortages,
Optimizing Resource Allocation. In summary, skill gap analysis is essential in the banking domain
to ensure that employees have the right skills to support organizational objectives, deliver superior
customer service, comply with regulations, drive innovation, and adapt to changing market
conditions. It enables banks to invest in targeted training and development initiatives that enhance
employee performance, engagement, and ultimately, organizational success. The Project have
enlightened us with valuable insights on skills required for various positions in bank and
developments and innovation going on it the sector. This skill gap analysis has given us a broader

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 outlook on one of field of human resource. Working on this project was quite helpful as we explored
and learnt many factors of any business.

7. LIST OF TABLES

TABLE 3.1 Skill gap analysis on HDFC Bank 5

TABLE 3.2 Skill gap analysis on IDBI Bank 7
TABLE 3.3 Skill gap analysis on SBI 9
TABLE 4.1 Comparative Analysis 10

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