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Saturday, January 18, 2014

Average age of IOB staff will fall further: CMD

At Indian Overseas Bank, promotions are happening thick and fast. Officers can become managers in less than two years. Apart from a conscious attempt at fast-tracking talent, the rapid expansion of its branch network is helping youngsters grow fast.

Speaking to Business Line, M. Narendra, Chairman and Managing Director of the bank, said the bank has opened more than 1,200 branches and recruited some 11,000 people in the last three years.

The bank recruited around 4,500 people in the current fiscal alone. Of them, around 2,600 are officers. The attrition level is minimal, he added.

Narendra said the new recruits become managers within one-and-a-half years because of the opportunities thrown up by expansion.

“The average age of employees is 46 now. Earlier it was 52-55. Ideally, my endeavour is to take it to 35 years,” he said, adding that the age profile will come down further in the next three years.

On training, he said: “Around 60-70 per cent of my focus is on human resource development.” Steps have been taken to mentor them at regional offices and also undertake a competence mapping of the employees.

Apart from using its own training establishment the bank is also planning to take the help of external training institutes, he said.

Highlighting the branch expansion over the last three years, he said it was not restricted to the South alone. The bank has expanded in all the States, and the number of regional offices has gone up from 43 to 59 now.

Source: Thehindubusinessline


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