What is Trade Union? A trade union is a group of workers from the same trade, organization, or industry that band together to safeguard their rights, improve working conditions, negotiate wage adjustments, and communicate with management in a unified voice. It seeks to provide workers negotiating leverage over corporate or government management.  Shrestha (2012) states, a trade union, through its leadership bargains with the  employer or the management on behalf of the union members and negotiates labor  contracts. Karl Marx established the revolutionary theory of trade unions. This theory is also known as "the theory of class war and dialectical materialism." According to Marx, trade unions were the primary organizing centers that provided an important hub for coordinating the forces of the working classes. Marx realized trade unions as means for overthrowing capitalism. Benefits of Trade Union to Workers  A worker feels extremely vulnerable when he is a...

Digitization is the process of converting information into a digital format.  However, adopting current technology and software is only one component of digital transformation in banking; it is also necessary to evaluate management processes, communications, and organizational culture. Internet banking, innovative software, and databases provide 24-hour consumer transaction services, increasing the sector's competitiveness. These services include transferring funds between bank accounts, viewing and managing bank account details, getting transaction information, checking balances, managing loans, and paying bills. Digital banking in Sri Lanka offers easy and secure financial services from home, anytime, utilizing personal computers or laptops and bank mobile apps on smartphones and tablets. The banking sector frequently provides Internet Banking Services to both retain existing clients and attract new customer base. Just launching a digital product to the market is n...

 What is Continuing Professional Development (CPD)? CPD stands for Continuing Professional Development. It entails tracking and documenting the skills, knowledge, and experiences you gain over time, both through formal and informal learning, following your initial training. CPD is essentially a record of what you have learned and applied in your professional life. While certain organizations use CPD to refer to a training or development plan, it more appropriately reflects the continuous process of recording and commenting on your professional learning and improvement. The CPD procedure facilitates the continued management of your professional development. It helps you to record, examine, and reflect on what you've learned, going beyond simply monitoring finished training. CPD is a comprehensive strategy for understanding and controlling your own long-term growth. The Banking, Financial Services, and Insurance (BFSI) sector is a critical component of the Sri Lankan economy, drivin...

Continuous learning and upskilling are becoming integral to HRM strategies as organizations seek to develop a workforce capable of adapting to technological advancements and evolving job roles. What skills development and continuous learning? Skills Development  is about gaining and enhancing the abilities needed for effective HR work. This includes technical skills, like using HR software, and soft skills, such as leadership and communication. It helps HR professionals manage talent, apply HR strategies, and adjust to changing workplace needs. Continuous Learning  is the ongoing effort to gain new knowledge and stay current with HR trends, practices, and regulations. This includes attending workshops, earning certifications, and staying updated with industry changes to remain effective and contribute to organizational success.   Why Skills Development and Continuous are crucial for HR professionals and organizations? Adapting to Change : The HR field is cons...

 Trends of Remote work in Banking Sector What is Remote working? Remote workers work from home all the time and may not have the option to go into the office.  What is Hybrid working? Hybrid workers will spend a portion of their time working from home, they also have the flexibility to choose where and when they work. The COVID-19 pandemic has forced significant changes in how we function, and the banking sector is no exception. With the proliferation of digital technology and the rise of fintech firms, banks are embracing remote work as a way to attract and retain top personnel, cut expenses, and boost productivity.  The conceptual framework builds on Kahn's (1990) employee engagement theory and Maslow's (1943) motivation theory by identifying the incidents and responses that have the greatest influence on remote workers' job engagement. In this blog article, I'll discuss the trends that are influencing the future of remote banking. Trends of Remote work in Bankin...