PROFESSIONAL STANDARDS IN HR MANAGERS' PRACTICAL WORK AS A FACTOR CONTRIBUTING TO IMPROVEMENT OF MODERN BANKS' HUMAN CAPITAL AND THEIR OVERALL COMPETITIVENESS

Abstract

Professional HR management standards were adopted in 2007. They are to become the main tool that helps identify HR management professionals. Each HR professional, both a beginner and a quite experienced HR director who reads these standards, can find something to learn and something that should be used in practical work. However, the main barrier that is found on the way of the HR standards introduction and use is the banks' and non-financial organizations' top management's hardly removable inability to understand the role and the status of an HR manager. Today HR managers' operations in many banks are organized according to the principle of not troubling the trouble until it troubles them. Such state of affairs is a source of various HR-related risks, property, reputation and goodwill loss. It makes the financial work results worse and decreases competitiveness level of the banks. What are the prospects of professional HR managers' standards introduction? Is it possible to make the standards a part of each modern competitive bank's policies? The above issues are among those that are included intoAshotAleverdov's article. Prof. Alaverdovisa renowned scholar, author of manuals and monographs dedicated to bank management and HR management in banks.