Business Daily from THE HINDU group of publications
Tuesday, Jul 11, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 11, 2006 |
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Money & Banking
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Human Resources YES Bank's new HR initiative Elina Mohanty
According to the programme, an employee selected by the bank would develop a business plan and work on a project of his choice.
Mumbai , July 10 Private banks are working on new models to motivate their employees. YES Bank in a bid to attract and sustain talent has launched a new human resource programme, "YES Entrepreneur in Action". According to the programme, an employee selected by the bank would develop a business plan and work on a project of his choice. While the employee would continue to work independently on the project, the bank would pay a fixed amount to him along with the benefits such as Provident Fund deposits, said Ms Archana Shiroor, Country Head-Human Resources. YES Bank's role is to provide financial security to the chosen "entrepreneur". YES Bank would also partner with the business venture if it is viewed to be sustainable, said Ms Shiroor. The bank has chosen Mr Vigyan Gadodia, Assistant Vice-President of the Micro-Finance Department, as the `YES Entrepreneur in Action- 2006-2007'. "I plan to work on a business model that attracts capital investments in the rural economy," Mr Gadodia said. He told Business Line that he plans to add more value to "farm gate" and create stable employment opportunities for the rural poor. "Since I have a background in bio-technology, I plan to set up nutraceutical units, organic farming, or food processing units in the rural areas in the next two years," Mr Gadodia said. He expects to employ the rural masses in the area. "I plan to set up the first unit at Uttar Pradesh, Rajasthan or Uttaranchal and expand the business eventually," he said. The intellectual property rights would rest with him. "We plan to introduce this programme every year and may select more than one employee in the future, depending on the success of the programme," Ms Shiroor said.
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