The Hindu Business Line : Union Bank may double recruitments

“If the IT industry revolutionised the employment opportunity the past decade, the financial services sector would be the leader in the coming decade,” he said, addressing students at the GRD School of Commerce and International Business.

Asked if the bank has tied up with educational institutions and business schools, Mr Nair said, “We may have to tie up with large number of institutes because the requirement is huge. Last year, we recruited agricultural and management graduates. Being a public sector bank there are some challenges, but we are looking at this business of recruitment differently.”.

On the manpower requirement, he said, “We plan to create capacity by using technology, shift MIS from branches to back office, set up retail hubs for asset planning and so on. The branch of the future would be ready within the next 12 months.”

The bank, however, would not look at outsourcing of jobs very aggressively, he added.

Answering yet another query, Mr Nair told Business Line that the public sector banks were ill-prepared to take the retail challenges in 1995, “now, it is the corporate.”

How would Union Bank tackle this challenge? “By bringing in newer skills, building a new set of core and multi-functional capabilities,” he added.

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