Clerks to turn banking associa

Among a host of recommendations made for public sector banks, the Khandelwal committee set up for reviewing human resource (HR) issues in banks has suggested that clerks should be redesignated as banking associates, sub-staff as support staff and cleaners and sweepers as housekeeping staff.

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The committee has also recommended revised ceiling amounts for staff welfare to 3% of net profits with limits depending on the bank size. 25% of this amount will be allocated towards medical facilities of retired employees and their spouses.

Variable pay has also been recommended to be considered as a major component of wages. Employee stock option plans can be allotted to 15% of top performers in the executive cadre to arrest attrition rates, the committee said.

According to the committee, a HR audit will be made mandatory for banks every 2 years. Entry-level qualification for clerical staff has been raised to graduation and rural service for 3 years will be mandatory for them.

Banks will incentivise mobility of clerical staff to rural areas. If the recommendations are approved by the ministry, banks will have to monitor staff costs and achieve a staff-cost ratio of Replica Ferrari Watches 50% in next 5 years. The committee also suggested setting up an institute for leadership development in the banking industry.

For effective succession planning, Porcelain Bangle each post should have 3 persons in reserve. A common pool of general managers in the industry has to be created for future executive director (ED) or CMD posts.

In order to give importance to HR and HR related issues in a public sector bank, the committee suggested an additional designation of an ED who will be responsible for human resource development only.

Credit:Parnika Sokhi

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