Federal Bank to hire 3,000 over two years

Old generation private sector bank Federal Bank is looking to hire about 3,000 personnel over the next two years. This recruitment is aimed at supporting the substantial branch expansion plan as well as to replace the large retiring workforce, said Mr Shyam Srinivasan, Managing Director and CEO.

The plan is to increase the branch network from the current 833 to 940 by March and to 1,000 by June. Also, about 800-900 people are expected to retire in 2012, thereby making it necessary to hire more staff, Mr Srinivasan said.

“Assuming an average of five personnel a branch, our recruitment will be huge,'' Mr Srinivasan said.

The bank hired about 1,400 personnel in the current year and would look to hire a similar number next year as well.

The hiring will through campus recruitment, tie-ups with professional organisations such as the CA institute and exams conducted by the Institute of Banking Personnel Selection.

The bank is hiring 48 specialised agricultural officers to beef up its agri lending business.

Recently, the bank received about 14,000 applications for 500-600 posts of Manager and Senior Manager, which were advertised online, Mr Srinivasan said.

Despite being headquartered in Kerala, a State known for its strong trade union culture, Federal Bank has not faced any issues with regard to its staff.

“We are not doing anything like creating a new cadre. Some of the other organisations struggled because they created a non-unionised workforce. We carried the union with us. Even the ESOP scheme we launched in April last year was offered to all employees, across all scales,'' Mr Srinivasan pointed out.

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