Human resource management practices in a Russian commercial bank in the context of an innovative economy

Abstract

This article examines the specifics of human resource management in the context of the promotion of an innovative economy. The study of the human resource management practices in Sberbank of Russia is highly relevant due to the challenges and external threats Russia currently faces and must respond to. The findings made following the analysis of the bank’s reports, surveys, and other open-source information indicate Sberbank’s high readiness to respond to the challenges typical of the new strategic context. At the same time, certain elements are identified without which such organizations operating in the conditions of the digital economy will not be able to outdo their competitors in the future. Sberbank has successfully implemented the Development Strategy through the consistent introduction of human resource management practices that correspond to the current trends involving the development of the information society. It is suggested that the range of tools used to establish an innovation-oriented environment be expanded with organizational democracy and agile leadership.