Rural youth can bank on fin sector for jobs

Pvt Banks Hire Up To 80% From Small Towns

The banking and finance sector holds a beacon of hope for rural youth as employment from the interiors now forms a bulk of the total hiring for some banks. For most private banks which started expanding their network in rural areas a few years ago, hiring from tier-3 to tier-6 regions now forms 50-80% of the total recruitment.

HDFC Bank officials said plans are afoot to hire around 12,000 people in the current year. Given the bank’s growing presence in semi-urban and rural locations, a majority of the hiring is taking place in tier-4 to -5 cities. “These cities account for half of the total number. Most of the hires in the tier-4 and -5 locations are done locally . For example, in our auto loans business, for the rural vertical, we are hiring rural sales officers who are recruited from the same area, given their familiarity with the geography and demography ,“ the officials said.

Over the last three-five years, Axis Bank too has been growing steadily and expanding its network and reach, especially in tier-2 and -3 cities. Hiring data over the last three years reveals a trend of close to 80% hiring from these cities by the bank. “With bran ches opening in tier-2 and -3 cities, the bank’s strategy has been to focus on hiring local talent. This -whilst generating employment opportunity for the indigenous community -brings in local flavour, which is critical for customer service,“ said Rudrapriyo Ray , HR head, Axis Bank.

DCB Bank, which hires around 60% from tier-3 to tier-6 locations, sees a lot of business potential in these loca tions. Just a few years ago, the entire hiring at DCB Bank was carried out in tier-1 locations. The bank has also tied up with several campuses from tier-3 to tier-6 cities to facilitate hiring beyond the metros. Hamsaz Vasunia, HR head, DCB Bank, said hiring in these locations will continue to see an upward trend, especially in the banking sector.

Census data shows that over 22 million youth look to move from rural belts to urban areas over a ten-year horizon. “Our six cities are incapable of fulfilling their aspirations any longer. Till such time manufacturing contributes to enable the la bour market transition from farm to non-farm -labourintensive, service sectors like BFSI are a ray of hope,“ said Rituparna Chakraborty , senior VP and co-founder, TeamLease Services. However, contrary to what is popularly assumed, talent gets hired at a premium in these cities. “There is a dearth of good middle-level managers in these cities since most have migrated to bigger towns. Most organiza tions want leaders in those locations to have very strong local market knowledge and network. Thus, they pay higher to find the right fit,“ said DCB Bank’s Vasunia.

Source : Times of India

Date: 05-10-2015


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