A Survey of Major HR Challenges in the Mature and Emerging Industries: A Comparison between IT and Banking Industries of Pakistan

Abstract

The study explores the major HR challenges faced by an emerging sector like IT Solutions & Services and by a mature sector like banking. It identifies the lessons that can be learnt from a mature sector and how challenges can be avoided by an emerging sector for the betterment of the industry. This study is qualitative and has been conducted based on primary data through structured questionnaires from 10 banks and 50 IT companies. The findings of the study are that all banks possess a formal and dedicated HR department and they have sophisticated processes, procedures and policies that have evolved over the period of time. Compared to that, very few IT companies have shown importance of HR, as they have only few people in their HR department. Majority of the IT firms do not have a formal and dedicated HR department and thus, HR people are not playing any strategic role in the organization.