PSBs to Hire 1 Lakh People to Match New Age Banking Requirements – CORPORATE ETHOS

PSBs to Hire 1 Lakh People to Match New Age Banking Requirements

By: | December 19, 2018

Dec 19: In order to match new-age banking requirements and boost business growth, public sector banking majors State Bank of India, Bank of Baroda, Canara Bank and Syndicate Bank are expected to hire one lakh people during the fiscal.

Staffing firm Team Lease Services has been quoted as saying that this is more than twice double the number of employees hired by the banks in the last two years. Excluding the lateral hires, PSU banks together appointed 95,000 employees. This included employees of post clerk, management trainees, and probationary officers.

As per a report, specialized functions such as wealth management, analytics, strategy, digital banking and customer services are the posts for which the PSU banks will be hiring.

TeamLease opined that the banks backed by the state are becoming very competitive. In order to boost the business, the culture of the PSUs should be changed and this is now visible in the hiring pattern of the banks. They are concentrating on hiring skilled people who are up to date with the new age and private/multinational lenders which will gradually show a positive result.

More officers and only a few clerks are being hired by the banks. TeamLease assessments reveal that part from SBI, the 20 percent of the PSB workers are under the clerical posts. SBI stands out among the others with a 45 percent of clerical employees.

Syndicate Bank, according to a report, has stated that new advanced manpower is required for the industry and they will be assigned in novel platforms like digital marketing and stressed asset recovery. Employees are expected to be offered attractive payment packages at the first three entry levels compared to foreign and private lenders.