HARNESSING THE SYNERGY OF HR AND MARKETING IN INDIA'S FINANCIAL SECTOR: STRATEGIES FOR SEIZING OPPORTUNITIES AND SURMOUNTING CHALLENGES TO BOOST PERFORMANCE

Minakshi Budhiraja; Isha Grover; Rohtash Kumar; Isha Kataria

doi:10.29121/shodhkosh.v5.i3.2024.1666

Authors

Dr. Minakshi Budhiraja Assistant Professor, New Delhi Institute of Management (NDIM), GGSIPU, New Delhi, India
Dr. Isha Grover Assistant Professor, New Delhi Institute of Management (NDIM), GGSIPU, New Delhi, India
Dr. Rohtash Kumar Associate Professor, New Delhi Institute of Management (NDIM), GGSIPU, New Delhi, India
Isha Kataria Doctoral Scholar, IMSAR, Maharshi Dayanand University, Rohtak and Assistant Professor, New Delhi Institute of Management (NDIM), GGSIPU, New Delhi, India

DOI:

https://doi.org/10.29121/shodhkosh.v5.i3.2024.1666

Keywords:

HR-Marketing Synergy, Financial Sector, Employee Engagement, Brand Identity, Organizational Performance, India

Abstract [English]

In the dynamic and competitive landscape of India’s financial sector, the integration of Human Resources (HR) and Marketing functions has emerged as a critical strategy to enhance organizational performance. This paper explores the synergy between HR and Marketing, highlighting how their collaboration can lead to a more cohesive brand identity, improved customer experiences, and a motivated workforce. The financial sector in India is undergoing rapid transformation, driven by technological advancements, regulatory changes, and evolving customer expectations. In this context, the alignment of HR and Marketing strategies becomes essential for organizations to stay competitive and responsive to market demands. The paper examines key strategies for harnessing this synergy, such as cross-functional collaboration, aligning employee engagement with brand values, and leveraging data-driven insights to foster innovation. It also addresses the challenges that organizations may face in implementing these strategies, including cultural barriers, resistance to change, and the need for continuous upskilling of employees. Through a comprehensive review of literature and case studies from leading financial institutions in India, this paper identifies best practices for creating a seamless integration of HR and Marketing functions. The findings suggest that organizations that successfully leverage this synergy are better positioned to seize market opportunities, enhance customer loyalty, and drive sustainable growth.

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