Another report by a government-appointed panel is unlikely to see the light of the day. The Anil Khandelwal committee report on reshuffling age-old human resource practices in public sector banks, submitted to the government last month, may go waste.
What the panel says
Instead of the present industry-level arrangement, wage decisions should be taken at the bank level.
The 'one-size-fits-all' model for remunerations, incentives or welfare of employees must be abandoned to push employees to achieve excellence.
About 35% of public sector bank employees are set to retire by 2012.
The government is not very keen on adopting the recommendations made in the report, sources said.
The move comes at a time when attrition level and HR- related problems are on the rise in public sector banks.
Instead of the present industry-level arrangement, wage decisions should be taken at the bank level, the report said. The committee, headed by Anil Khandelwal, former chairman of Bank of Baroda, has said that the one-size-fits-all model for remunerations, incentives or even welfare of employees must be abandoned to push employees to achieve excellence. Trade unions in the banking sector have opposed the recommendations of the committee.
About 35 per cent of public sector bank employees are set to retire by 2012. At present, public sector banks engage about 8 lakh employees. "Until the HR practices are changed, it would be very difficult to attract talent to public sector banks," a senior executive at a public sector bank said, adding, the attrition rate in state-owned banks has increased significantly in the last few years.
"The other problem is the reluctance to join a government bank as people do not see it challenging enough, which does not offer any concrete career growth path," the executive told Hindustan Times on the condition of anonymity.