Chennai: State-owned banks including State Bank of India, Bank of Baroda, Canara Bank and Syndicate Bank, are likely to hire one lakh people in the current financial year to match new-age banking requirements and grow their business, a report has stated.
According to the report released by staffing firm TeamLease Services, it is estimated that the number is more than double than what has been witnessed in the past two years.
Barring lateral hires, PSU banks collectively hired 95,000 in last two years for positions like clerk, management trainees and probationary officers, the report said.
According to the report, PSU banks will be hiring for specialised functions like wealth management, analytics, strategy, digital banking and customer services.
“State-owned banks are turning competitive after battling mammoth bad assets,” the business head – Banking and Financial Services at TeamLease, said.
Banks are now hiring more officers and few clerks. Except SBI, 20 per cent of total employees in PSBs now fall in the category of clerks. Only SBI has around 45 per cent employees as clerks, it said.
“The need is to change the culture of PSUs to drive business, and this has been seen in their hiring patterns. They are now focusing on hiring talent in line with new age as well as private/multinational lenders. This, in turn, should yield results over a period of time,” he added.
According to a national daily, speaking on the matter, CEO, Syndicate Bank, said, “Going forward, the plain vanilla generalist recruitment will give way to specific niche, strategy-based hiring.”
“We need new type of manpower as they will be put in new areas like digital marketing and stressed asset recovery. Remunerations are also attractive at the first three entry levels compared to foreign and private lenders,” Mahapatra added, the daily reported.