Banks face HR asset-liability mismatch
Many of these officials who will need to be replaced have been with banks for over 30 years and their exit will leave a gap difficult to fill. A report by management consultancy Boston Consulting Group (BCG) notes that retirements in public sector banks will add to the already-burgeoning manpower needs of the sector. BCG estimates that the banking industry will need to hire 9-11 lakh employees over the next five years, with the largest number of vacancies in public sector banks.
The reason for the mismatch, bankers say, is that public sector banks failed to assess their own growth potential. Shortages in manpower have arisen mainly because the post-nationalisation recruitment spree of the seventies and eighties was followed by a hiring lull from 1990s, ostensibly to reduce excess flab. Voluntary retirement schemes and adoption of information technology
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