SFBs bet on local hiring in face of cost-effective staff crunch

These banks are finding it hard to pick up seasoned bankers at the pay they are offering

Namrata Acharya  |  Kolkata 

With all the ten small finance banks (SFB) set to be operational over the next two months, local hiring has turned out to be the essence of their human resource policy. With each of the proposed banks requiring a minimum headcount of close to 500 new recruits for expansion next year, rough estimates suggest that at least 5,000 new jobs are expected to be created collectively from the ten SFBs. Notably, these banks are facing an acute shortage of talent as they are finding it difficult to recruit seasoned banking professionals at the compensation they are offering. So far, as ...

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SFBs bet on local hiring in face of cost-effective staff crunch

These banks are finding it hard to pick up seasoned bankers at the pay they are offering

With all the ten small finance banks (SFB) set to be operational over the next two months, local hiring has turned out to be the essence of their human resource policy. With each of the proposed bank requiring a minimum headcount of close to 500 new recruits for expansion next year, rough estimates suggest that at least 5000 new jobs are expected to be created collectively from ten small finance banks.Notably, the SFBs are facing acute shortage of talent as they are finding to recruit seasoned banking professionals befitting their low cost structure. So long, as MFIs, the average salary of their staffs ranged between Rs 1-2.5 lakh across junior and senior-mid levels. In contrast, in a private sector bank, as a fresher an average graduate (non-management background) earns anywhere between Rs 3-5 lakh. Salary is much dependent upon educational qualifications, and institutes from which it is earned. Also, in an MFI, with a qualification till the higher-secondary level, one can elevate ... With all the ten small finance banks (SFB) set to be operational over the next two months, local hiring has turned out to be the essence of their human resource policy. With each of the proposed banks requiring a minimum headcount of close to 500 new recruits for expansion next year, rough estimates suggest that at least 5,000 new jobs are expected to be created collectively from the ten SFBs. Notably, these banks are facing an acute shortage of talent as they are finding it difficult to recruit seasoned banking professionals at the compensation they are offering. So far, as ... image
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