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PSBs dole out plum posts for management recruits
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PSBs dole out plum posts for management recruits
MUMBAI: Public sector banks have handed out plum postings like treasury, credit and international banking to their newest recruits from top management institutes, in the hope of retaining their services. Market watchers say even if a majority of the new inductees stick on, it may end up changing the work culture of the oldest-serving financial institutions in the country. Private banks barely recruited from campuses this year.
A rare opportunity of landing ‘A’ grade talent at affordable prices led a host of PSU banks like Bank of Baroda, Union Bank of India and IDBI Bank, to hit top management institutes this year. For years, it was only state-owned manufacturing heavyweights like ONGC, NTPC, SAIL and others which went down this road. Between them, PSU banks recruited close to 150 management graduates from top schools like the Indian Institute of Managements, and nearly 500, including the secondline ones like the IMT Ghaziabad. Over the past few days, mandates are being assigned to each of them.
“All our new inductees have been posted at the central office and in critical areas,” said TY Prabhu, executive director at Union Bank. He also informed that they have been recruited in the scale 2 or 3 of the hierarchy that is with senior official status. Probationary officers who enter through an exam would enter at scale one and get paid lesser. But this is exactly what can cause a friction in the workforce, say most analysts.
The argument is that the new guys will report to much older people and assimilation may be an issue if the seniors are not able to relate to the young folks. “If a person is doing a specialised job that only he can do, then why will there be any problem with others?” asked MD Mallya, chairman, BoB which for the first time recruited from top B schools. “None of them is doing any run of the mill jobs, we are ensuring they get a chance to show their talent,” he added.
A few BoB recruits ET spoke to also denied any rough dealings with older employees. Swati Jasrotia, who graduated from IMT Ghaziabad, said that her experience as of now has been positive. Analysts have been calling banks’ move to get in the new generation as part of their recent campaign to change their public image. As for when customers will experience better banking, experts say it may be a while away.
“Public sector banks will have to continuously hire for 2-3-4 years more for customers to start seeing a perceptible change in operations,” said Saurabh Tripathi, partner at BCG, who specialises in banking. He says ensuring financial stability and providing accommodation besides offering growth prospects are the best ways for PSU banks to attract and retain talent.
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/PSBs-dole-out-plu
A rare opportunity of landing ‘A’ grade talent at affordable prices led a host of PSU banks like Bank of Baroda, Union Bank of India and IDBI Bank, to hit top management institutes this year. For years, it was only state-owned manufacturing heavyweights like ONGC, NTPC, SAIL and others which went down this road. Between them, PSU banks recruited close to 150 management graduates from top schools like the Indian Institute of Managements, and nearly 500, including the secondline ones like the IMT Ghaziabad. Over the past few days, mandates are being assigned to each of them.
“All our new inductees have been posted at the central office and in critical areas,” said TY Prabhu, executive director at Union Bank. He also informed that they have been recruited in the scale 2 or 3 of the hierarchy that is with senior official status. Probationary officers who enter through an exam would enter at scale one and get paid lesser. But this is exactly what can cause a friction in the workforce, say most analysts.
The argument is that the new guys will report to much older people and assimilation may be an issue if the seniors are not able to relate to the young folks. “If a person is doing a specialised job that only he can do, then why will there be any problem with others?” asked MD Mallya, chairman, BoB which for the first time recruited from top B schools. “None of them is doing any run of the mill jobs, we are ensuring they get a chance to show their talent,” he added.
A few BoB recruits ET spoke to also denied any rough dealings with older employees. Swati Jasrotia, who graduated from IMT Ghaziabad, said that her experience as of now has been positive. Analysts have been calling banks’ move to get in the new generation as part of their recent campaign to change their public image. As for when customers will experience better banking, experts say it may be a while away.
“Public sector banks will have to continuously hire for 2-3-4 years more for customers to start seeing a perceptible change in operations,” said Saurabh Tripathi, partner at BCG, who specialises in banking. He says ensuring financial stability and providing accommodation besides offering growth prospects are the best ways for PSU banks to attract and retain talent.
Source:
http://economictimes.indiatimes.com/News/News-By-Industry/Jobs/PSBs-dole-out-plu
