540 employees resigned from SBI this year

- Advertisement -

State Bank of India (SBI) has a much lower attrition rate than private sector banks. In the current year, there were only 540 resignations out of a total employee base of 250,000. This is about 3% attrition, which is much lower than the 30-35% attrition rate in private sector banks.

There are a few reasons for this difference in attrition rates. First, compensation packages in PSBs are generally better than those in private banks. Second, there is a talent crunch in the state-owned banking space, especially in functions like risk management, compliance, analytics, and technology. This means that PSBs are able to retain their employees more easily than private banks.

However, the attrition rate in PSBs is starting to rise at higher levels. This is because the expansion of industry and the economy are producing ample job opportunities, which is making it more difficult for PSBs to retain their top talent.

- Advertisement -

In addition, young employees are increasingly taking a second look at their career choices. This is partly due to the post-Covid phenomenon, which has prompted many people to re-evaluate their priorities. As a result, we are likely to see even higher attrition rates in the banking sector in the coming years.

  • The difference in attrition rates between PSBs and private banks is likely to widen in the future.
  • PSBs need to find ways to attract and retain top talent in order to remain competitive.
  • The rising attrition rate in the banking sector is a challenge for both PSBs and private banks.
- Advertisement -

Comments

1 COMMENT

  1. 1. PSBs’ Lower Staff to Customer ratio, 2. Day by day increasing Workload, 3. Disturbing Work-life-balance,
    4. Excessive attention to Government sponsored schemes,
    5. Management policies promoting Cross Selling rather than actual Banking,
    6. Lack of learning and motivation in Job, resulting in Boredom and detachment from work

    are a few Honourable Mentions here.🙏

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More News...

Latest

Huge rush of customers in SBI, Women stand outside SBI since Night for KYC

Women stand outside SBI from 2 am at Night for KYC

ICICI Bank Manager accepts he conducted Rs 12 crore fraud by forging customer’s signature

ICICI Bank Manager accepts he conducted Rs 12 crore fraud by forging customer's signature

Standard Chartered Bank ordered to pay compensation for not updating CIBIL score of loan borrower

Standard Chartered Bank ordered to pay compensation for not updating CIBIL score of loan borrower

Retired Judges get only Rs.19000 pension, Court asks Govt to increase pension of Judges

Supreme Court asks Government to increase pension of retired Judges

CBI Court sentenced UCO Bank Manager to 5 years Jail

CBI Court sentenced UCO Bank Manager to 5 years Jail

PNB Bank union writes letter to PM Modi to introduce five day banking

PNB Bank union writes letter to PM Modi to introduce five day banking

What happened to Nithin Kamath, CEO of Zerodha?

What happened to Nithin Kamath, CEO of Zerodha?

SBI projects 14-15% loan growth, Read what SBI Chairman Dinesh Khara said

SBI projects 14-15% loan growth, Read what SBI Chairman Dinesh Khara said

Acid attack on Bank of Baroda Female Manager, Case transferred to Allahabad Court

Acid attack on Bank of Baroda Female Manager, Case transferred to Allahabad Court

High Court orders RBI to pay compensation for denying maternity leave of Female Employee

High Court orders RBI to pay compensation for denying maternity leave of Female Employee