Need for more employment in public sector bank : BCS
September 08, 2010             Category : Careers & Training

Somewhere deep inside every Indian heart, there is a liking for bank jobs. Even today, it is considered as one of the safest job.

 

With the boost of manpower by 0.5 per cent and balance sheet growth by 22 per cent in public sector banks in 2009-10, government banks' revenue per employee has doubled in the past three years.

 

The report says "Almost 80 per cent of middle management and 50 per cent of junior officers will be lost through retirement within the next 10 years" And because of these double challenge it is important to bring in more talent to the existing employees in large scale and also control the staff expenditure.

 

The chief of various banks spoken to are conscious of this issue. The Union Bank of India's chairman and managing director, M V Nair, aims to hire 2,500 staff in the current financial year, as compared to 1,500 in the previous year. While Bank of Baroda chairman and managing director M D Mallya said his bank will employ 3500 staff this year which is the same as last year.

 

The strength of Bank of Baroda and Union Bank was approximately 39,000 and 28,000 at the end of 2009-10. Five percent of these staffs are now directly involved in sales with the target to increase the profit by 20-25%.

 

The BSG reports state that HDFC is the third largest bank to recruit in this sector, after State Bank Of India and Punjab National bank, by 52000 staff.

 

In the past the cost per employee in government banks was higher as compared to its private counterparts. However, there seems to be a reverse trend now, says the report. Employee cost on an average was Rs.5.6 lakh in public sector and Rs.5.3 lakh in private banking. Public sector banks spend about 62% of its cost on employees, while in private banks, its just 37%. The ratio is around 50% universally.

 

For those of you who are preparing for various bank exams, you can network  and discuss with others in placement papers community.

 

 

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