In his first letter to bank unions and federations after assuming charge as the chief executive of the Indian Banks’ Association (IBA), Atul Goel has unveiled a four-pronged agenda for employee wellness as well as creating a fair, supportive and empowering workplace environment for employees.
Goel has assured stakeholders that the well-being and satisfaction of bank employees would be the association’s top priority. His assurance comes at a time when public sector bank employees are waiting for the implementation of 5-day-work week, retrospective tax on perquisites and strategies to stem high attrition in private banks.
“The banking sector is undergoing rapid transformation, and our employees are at the core of this evolution,” said Goel. “Their dedication and hard work keeps the industry strong. We must do everything possible to ensure their voices are heard and their contributions recognised”.
Goel, who was the MD and CEO of Punjab National Bank from February 2022 to December 2024, took charge as the chief executive on March 11. The IBA is set to hold its 77th annual general meeting on Monday in Mumbai where top bankers will gather to discuss future strategies.
“IBA will actively engage with unions and federations to discuss and implement policies that support employee welfare, stress management and overall well-being,” Goel added.
Besides emphasising employee well-being, Goel also highlighted the need for training and upskilling, transparent grievance redressal mechanisms and ensuring that employees are duly recognised for their contribution.
Meanwhile, The United Forum of Bank Unions (UFBU), an umbrella body of nine bank employees’ associations, has announced a two-day nationwide strike on March 24 and 25 on long pending issues, including a five-day work week and staff shortage in banks.
The unions have also sought withdrawal of recent directives from the Department of Financial Services (DFS) regarding performance reviews and performance-linked incentives, alleging that such measures threaten job security. The unions were in talks with the IBA, but discussions did not yield any positive outcome.
Emphasising the crucial need for an open dialogue between management and employees, Goel invited unions to actively share their insights, concerns, and suggestions. “We must ensure that grievances and concerns are addressed effectively and transparently.”
“We will work towards strengthening learning and development programmes that provide employees with career growth opportunities and the ability to meet new challenges with confidence,” said Goel.
“IBA is committed to fostering open and constructive dialogue with unions and federations so that we can collectively find solutions which work in the best interest of employees,”.
While steering the industry towards sustained growth, Goel also vowed to ensure that employees are acknowledged for their contributions. He opined that the success of any bank is inherently linked to the dedication of its staff. Therefore safeguarding their rights and interests are not only a moral obligation but also a strategic priority.