The country`s public sector banks (PSBs), where the average age of employees is touching 48, are on a major recruitment drive to woo youngsters to man their counters.
"Banks like ours are now looking to replace ageing and retiring staff members with younger blood. Not only that, we are also recruting laterally," says Vijaya Bank chairman and managing director Albert Tauro. The bank has recruited 150 B-school graduates for the officer I, II cadre through campus placement this year. It has also recruited 310 people with work experience in the law, agriculture and financial services
domain.
Professionally-qualified (MBA, CA) persons stand a better chance of bagging a job in nationalised banks. "A lot of such people keep applying for jobs in our bank. We also give high weightage to people who are well qualified," says Indian Overseas Bank executive director YL Madan.
Almost 20-25% or 39,000 Central Bank of India`s staff are MBAs, CAs and law officers. "Till late, there was a freeze on recruitment. As a result, the average age of employees in banks like us has gone up. We are now trying to correct this anomaly by recruiting young blood," says a human resources department manager with the Central Bank of India in Chennai.
From providing risk management services, bancassurance, derivative desk, asset management services, private banking to even relationship management, nationalised banks are increasingly feeling the need of hiring specialists for the job. Some bankers say the traditional method of recruiting officers and clerical staff through common tests is inadequate in today`s environment.
Around 20% of India`s eight lakh public sector bank workforce is expected to retire by 2011 and that is another reason why commercial banks are in a recruitment frenzy. For instance, the Union Bank of India has been going to top B school campuses for the last couple of years to recruit people for Scale III cadre (senior manager) positions. "People who join at this level won`t have to wait for 12 years to reach a senior level in the bank. They have a good chance of becoming a general manager when they turn 40," says Union Bank of India deputy general manager KR Pillai.
The bank has recruited 890 people this year through campus placements in B schools and other professionals like law graduates and post graduates in agricultural sciences. While the bank offered a choice of three to five-year contracts and regular employment, Pillai says most of the 890 candidates opted for the permanent scale.
Over the last two years, the bank has selected over 2,500 candidates through campus placements and direct recruitment. Around 1,857 UBI employees were given a fast track promotion last year. "The whole idea is to groom them for top positions in the organisation in the future," he adds.
Even smaller banks are on a hiring spree. Karnataka Bank has recruited 120 officers this year. Of this, around 40 are MBAs, 35 have a masters specialisation in agricultural sciences and the remaining have a post graduate qualification. "We would like to build specialists and experts in our bank," says chainrman Ananthakrishna.
Source:
http://timesofindia.indiatimes.com/Chennai/Firing-eases-hiring-gets-going/articl
"Banks like ours are now looking to replace ageing and retiring staff members with younger blood. Not only that, we are also recruting laterally," says Vijaya Bank chairman and managing director Albert Tauro. The bank has recruited 150 B-school graduates for the officer I, II cadre through campus placement this year. It has also recruited 310 people with work experience in the law, agriculture and financial services
domain.
Professionally-qualified (MBA, CA) persons stand a better chance of bagging a job in nationalised banks. "A lot of such people keep applying for jobs in our bank. We also give high weightage to people who are well qualified," says Indian Overseas Bank executive director YL Madan.
Almost 20-25% or 39,000 Central Bank of India`s staff are MBAs, CAs and law officers. "Till late, there was a freeze on recruitment. As a result, the average age of employees in banks like us has gone up. We are now trying to correct this anomaly by recruiting young blood," says a human resources department manager with the Central Bank of India in Chennai.
From providing risk management services, bancassurance, derivative desk, asset management services, private banking to even relationship management, nationalised banks are increasingly feeling the need of hiring specialists for the job. Some bankers say the traditional method of recruiting officers and clerical staff through common tests is inadequate in today`s environment.
Around 20% of India`s eight lakh public sector bank workforce is expected to retire by 2011 and that is another reason why commercial banks are in a recruitment frenzy. For instance, the Union Bank of India has been going to top B school campuses for the last couple of years to recruit people for Scale III cadre (senior manager) positions. "People who join at this level won`t have to wait for 12 years to reach a senior level in the bank. They have a good chance of becoming a general manager when they turn 40," says Union Bank of India deputy general manager KR Pillai.
The bank has recruited 890 people this year through campus placements in B schools and other professionals like law graduates and post graduates in agricultural sciences. While the bank offered a choice of three to five-year contracts and regular employment, Pillai says most of the 890 candidates opted for the permanent scale.
Over the last two years, the bank has selected over 2,500 candidates through campus placements and direct recruitment. Around 1,857 UBI employees were given a fast track promotion last year. "The whole idea is to groom them for top positions in the organisation in the future," he adds.
Even smaller banks are on a hiring spree. Karnataka Bank has recruited 120 officers this year. Of this, around 40 are MBAs, 35 have a masters specialisation in agricultural sciences and the remaining have a post graduate qualification. "We would like to build specialists and experts in our bank," says chainrman Ananthakrishna.
Source:
http://timesofindia.indiatimes.com/Chennai/Firing-eases-hiring-gets-going/articl
