
Pro Employee HR policy in Banking Industry in India is the need of the hour
Pro Employee HR policy in Banking Industry in India is the need of the hour
Stress
in the job has become more prominent now days making every sector of the
economy affected by it. So is true for
the Banking Industry in India too. Stress affects the mental and physical
health of the employee which in turns affect the productivity and competitiveness
of the institution.
Banking
Industry in India plays a very vital role in the economy catering to the
financial needs of each section of the society. It also acts as a facilitator
of the various government policies to reach the common mass.
Having
playing so much critical role in the economy, the Banking Industry in India has
failed to attract quality talent pool towards it. Rather the attrition rate of
employee in the Banking Industry has increased. Once there was a time when
Banking Industry in India was the most sought after job but during times it has
lost its charisma and in present day’s people chooses banking industry as
career as the last option.
First
and foremost reason for the stress in the Banking Industry is unfriendly and
non transparent transfer policy. Officer in the Banking sector are recruited with
an undertaking to work on Pan India basis. But no clear cut guideline is in
place for transfer of the officers. Though every bank has its own transfer policy
but the inherent ambiguity makes the policy irrelevant. The tool of transfer in
the hand of the management without giving a reason turns out to be a weapon.
This tool cum weapon arms the management to force the junior officer to comply
with their command even if the command is unjust and unethical.
Second
reason is the excessive work load on the employee of the Banking Industry in
India. Each scheme launched either by the central or state government is routed
through the Bank itself. This particularly is true for the public sector bank.
Presently the Bank especially the Public sector Bank is made to the work which is
not the core work of Banking per se. PSBs are forced to do the work like DBTL,
APY, SBY JJBY, Debt Waiver, Adhar Card Making, Adhar Enrollment, Insurance and
many more at the cost of their fundamental work of taking deposit and lending.
Despite increase in the work load, the recruitment in the Banking Industry has not
been done to the desired level. On average, an employee in the Public Sector
Bank caters to nearly 1500 customer whereas in the Private Banks the employee
to customer ratio is 1:350(approx). That means en employee in PSBs is catering
to 5 times more customer than its peer in the private sector.
Third
reason which is fuelling the stress in the employee of the Banking Industry in
India is the faulty government policies. Every Government since independence
has came up with many schemes for loan distribution such as IRDP, NRLM, NULM,
MUDRA, Stand Up India etc. But none of the government had the guts to make at
least one stringent policy for the recovery of the bank loan. Acts like
SARFAESI, DRTs, RC, IBC etc are toothless weapons. Having lack of tough
recovery laws resulted into pile of nonperforming assets causing declined in
the profit of the Banks as well as the recruitment.
Fourth
reason is the lack of transparent promotional avenues in the Banking Industry. There
is no transparency in the promotional exams. The present promotional opportunities
are much skewed in favour of “Yes Sir” person. Those who are star performer are
favoured for promotion. But the criterion of performance is solely based on the
business parameters only instead of many others like honesty, integrity,
practical knowledge etc. Many of the top executive of big banks who performed
exceptionally well and got promoted to higher positions later found out to be
involved in the unethical business decisions which had its toll on that
particular Bank itself.
Above
is few out of the many reasons due to which the employees are under stress in
the Banking Industry. Government is leaving no stones unturned to revive the
Banking Industry in India through project Sangam, EASE 2.o etc. But to our
dismay, HR practices are not being given its due attention. Employees are the
core assets of the Banking Industry whose revival must be the primary focus of
any policies if the government really wants to revive the Banking Industry in
true spirit.
No comments:
Post a comment
Please do not enter any spam link in the comment box