The Hindu Business Line : Union Bank may recruit more

Coimbatore April 29 Having recruited 800 persons last year, Union Bank of India is looking at picking up 1,000 this fiscal, according to Mr M.V. Nair, Chairman and Managing Director.

Speaking to Business Line, he said that the recruitment exercise was aimed at having a mix of people of young people with excellent skill sets.

"We have also started the `succession plan' exercise. Public sector banks are not practising succession plan in a big way," he said, adding that the bank commenced this exercise a year ago.

The bank has, in the first year, deputed 30 youngsters for training at IIM, Bangalore.

"The challenge is in identifying youngsters with the right skill sets, give them a chance to take up such training and then retain them. The next batch of 30 is now undergoing training."

Retaining talent

But will the bank be able to retain them? "We have to take the risk, but it is necessary. On one hand we are imbibing technology, which necessitates the need for specialised skills. We are not looking only at engineers, but also management graduates, chartered accountants, marketing officers, rural development officers and people at higher levels in the organisational structure."

He said that nationalised banks would not be able to pay on par with IT companies or what top B-school graduates command.

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