BoB draws strategy to stem attrition
The Bank of Baroda (BoB) is undertaking measures for improvement of its human resources and reduce the attrition rate.
By PTI |
KOLKATA: The Bank of Baroda (BoB) is undertaking measures for improvement of its human resources and reduce the attrition rate.
"We are doing several things to retain manpower and tackle attrition. HR will be the main trouble for the banking sector and not funds, in the years to come," BoB chairman and managing director A K Khandelwal said here on Saturday at the AIMA convention.
The steps were being taken in new areas like insurance, wealth management the bank was poised to foray.
The bank has started a programme called 'khoj' to identify employees who have a potential for improvement and groom them for new responsibility.
"We have started training programmes for senior and junior managers," Khandelwal said.
The drive to develop an internal talent pool was mooted after it was found that new recruits were more prone to switch organisations compared to existing employees.
Meanwhile, the bank was working on details of the life insurance venture and expected it to be formalised soon.
The bank would have a 44 per cent stake in the venture, while 30 per cent would be picked by Andhra Bank and rest by Legal & General of UK in the Rs 200 crore capital.
The bank, in order to focus on fee-based income, would also commence capital market related services for which it has signed with India Infoline.
The bank was aiming at a total balance sheet size of Rs 2,60,000 crore with credit growth of 22 per cent during the current fiscal.
"We are doing several things to retain manpower and tackle attrition. HR will be the main trouble for the banking sector and not funds, in the years to come," BoB chairman and managing director A K Khandelwal said here on Saturday at the AIMA convention.
The steps were being taken in new areas like insurance, wealth management the bank was poised to foray.
The bank has started a programme called 'khoj' to identify employees who have a potential for improvement and groom them for new responsibility.
"We have started training programmes for senior and junior managers," Khandelwal said.
The drive to develop an internal talent pool was mooted after it was found that new recruits were more prone to switch organisations compared to existing employees.
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Meanwhile, the bank was working on details of the life insurance venture and expected it to be formalised soon.
The bank would have a 44 per cent stake in the venture, while 30 per cent would be picked by Andhra Bank and rest by Legal & General of UK in the Rs 200 crore capital.
The bank, in order to focus on fee-based income, would also commence capital market related services for which it has signed with India Infoline.
The bank was aiming at a total balance sheet size of Rs 2,60,000 crore with credit growth of 22 per cent during the current fiscal.
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