The HR Shake-Up
Business Today|June 18, 2017

The inside story of how Arundhati Bhattacharya is carrying out the big human resources overhaul at SBI. This can become a template for other public sector banks.

Anand Adhikari
The HR Shake-Up

For decades, the country's largest bank, State Bank of India, or SBI, used to do a major part of business - especially deposits, advances and cross sales - in the second half of the financial year. The reasons included audits and closing of annual accounts in the first part of the year, summer vacations, and new transfers/postings. The first two quarters were called the lost quarters. Not anymore.

In 2016/17, SBI met 25 per cent targets in the first quarter, thanks to a new performance management system that gives monthly reports on targets and performance for 90 per cent of the staff. This ensures that employees are always on their toes. "Nobody wants to miss targets as that has a bearing on annual increments," says Prashant Kumar, Deputy Managing Director and Corporate Development Officer at the bank.

SBI, often equated with an elephant for its slow ways and size, is becoming an entirely different animal as a result of a massive human resources, or HR, overhaul that is seeing all 2,00,000 employees at 1,700 locations pull their weight together to meet the challenges of the future. The transformation, among other things, involves making hiring more stringent, a new appraisal system based on measurable targets, and focus on building leadership and new skills to deal with the challenges of changing technology and competition from new tech-savvy financial services players such as payments banks and Fintech companies.

SBI, valued at close to Rs 2.4 lakh crore, knows that the technology used by Fintech players such as Paytm and aspirations of millennials are transforming banking in more ways than one, including the quality of services expected by customers. Then, there are things such as artificial intelligence and robotics taking over mundane and repetitive jobs, making the task of training employees for more value-added work all the more imperative.

Diese Geschichte stammt aus der June 18, 2017-Ausgabe von Business Today.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der June 18, 2017-Ausgabe von Business Today.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS TODAYAlle anzeigen
"Moving to cloud helped us grow❞
Business Today India

"Moving to cloud helped us grow❞

What was the problem you were grappling with?

time-read
1 min  |
November 24, 2024
She's Got Time
Business Today India

She's Got Time

MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP

time-read
3 Minuten  |
November 24, 2024
RISING STAR
Business Today India

RISING STAR

PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.

time-read
1 min  |
November 24, 2024
Building on a Legacy
Business Today India

Building on a Legacy

WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.

time-read
1 min  |
November 24, 2024
LEADER IN INNOVATION
Business Today India

LEADER IN INNOVATION

AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.

time-read
1 min  |
November 24, 2024
WAITING IN THE WINGS
Business Today India

WAITING IN THE WINGS

Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025

time-read
1 min  |
November 24, 2024
A DECENT PROPOSAL
Business Today India

A DECENT PROPOSAL

IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?

time-read
5 Minuten  |
November 24, 2024
Women and the STEM Bias
Business Today India

Women and the STEM Bias

EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.

time-read
3 Minuten  |
November 24, 2024
ROCKET WOMEN
Business Today India

ROCKET WOMEN

WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.

time-read
6 Minuten  |
November 24, 2024
ONE STEP FORWARD
Business Today India

ONE STEP FORWARD

THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.

time-read
6 Minuten  |
November 24, 2024