Supriya Paul
Assistant Professor, EIILM – Kolkata, India
Mahua Pal
Assistant Professor, J.D. Birla Institute, Jadavpur University, Kolkata, India
Aryan Narayan Das
University of Engineering and Management, Kolkata, India
Rama Prosad Banerjee
Chairman & Director, EIILM – Kolkata, India
Correspondence: supriyap2006@gmail.com
Abstract
The Indian financial sector, including banks, non-banking financial companies (NBFCs), insurance firms, and fintech organisations, is undergoing a transformative shift in manpower planning driven by digitisation. This study examines the specific applications of Artificial Intelligence (AI) for predictive workforce modelling, Machine Learning (ML) for employee performance tracking, and Human Resource Information Systems (HRIS) for integrated talent management. These technologies enhance forecasting accuracy, enable targeted recruitment, support adaptive training programs, and drive data-informed retention strategies, marking a significant shift from traditional intuition-based approaches. However, the digital transition also poses challenges, including digital literacy gaps, high technology adoption costs, and ethical concerns regarding algorithmic transparency and bias. Drawing on an extensive literature review, real-world case studies, and insights from expert interviews and questionnaires within the Indian financial sector, this study critically examines the emerging practices and trends. This study proposes a strategic framework for implementing sustainable, digitally enabled manpower planning models to support the long-term competitiveness and resilience of Indian financial institutions.
Keywords: Manpower Planning, Financial Institutions, Human Resource Strategy, Indian Banking Sector
DOI : 10.65176/IJLM.V2I2.03
JEL Classification : O33, J24, G21
References
Gupta, R., Patel, M., & Singh, A. (2021). AI-Powered Workforce Analytics in the Indian Banking Sector. Journal of Human Resource Technology, 12(3), 145–157.
Kumar, N., & Sharma, P. (2022). Blockchain Applications in HR Management: A Case 13 Study in Financial Institutions. International Journal of Emerging Technologies in HR, 9(1), 55–68.
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill-building approach (7th ed.). John Wiley & Sons.
Singh, T., Agarwal, V., & Rao, R. (2020). Impact of HRIS on Talent Management in Indian Financial Firms. Indian Journal of Management Sciences, 14(2), 85–97.
Verma, S., Mehra, A., & Kulkarni, N. (2023). AI Chatbots and HR Automation: A Fintech Perspective. HRM in the Digital Era, 7(4), 110–123.
Bose, R., Sen, A., & Mukherjee, D. (2021). Big Data Analytics in Workforce Planning: A Comparative Study. Journal of Applied Business Research, 17(2), 22–35.
Mehta, K. (2022). Traditional Banks vs. Fintechs: A Comparative Study of HR Digital Transformation. International Review of Finance and HR, 11(1), 91–104.
Patil, V., & Rao, S. (2024). AI-based Skill Assessment in Indian Financial Institutions. Human Capital Review, 5(2), 70–83.
Nair, R., & Sen, S. (2023). Remote Work and Digital Collaboration Tools: Implications for HR Planning. Journal of Digital Workspaces, 6(3), 142–158.
Kapoor, T., & Menon, B. (2023). Robotic Process Automation in Indian Banking HR Functions. International Journal of Financial Innovation, 10(1), 40–53.
Sharma, D., & Dutta, A. (2024). Predictive Analytics for Employee Retention in Indian Banks. Journal of Organisational Behaviour and Tech, 8(1), 112–129.
Nasscom (2022): BFSI Tech report
Deloitte (2022): Digital HR transformation in financial services
McKinsey & Company (2023): Digital transformation in the Indian BFSI sector