State Bank of India — the country’s largest lender — is introducing a performance management system for its 1.70 lakh employees to build individual accountability. “For the first time in SBI, every employee (officers and clerks) can view their monthly performance against assigned targets. There is data driven and meaningful differentiation based on performance and it lays the foundation for a deep meritocratic culture,” according to a statement from the SBI. The total employee strength of SBI is over 2.13 lakh..
While the bank said every employee will be groomed to get a unique mix of all-round banking exposure and expertise in an area of his or herchoice, officers will have the flexibility to opt for and build expertise in their areas of interest like credit, information technology and treasury..
The bank is also leveraging the social networking platform Facebook to encourage peer-to-peer interaction and help build new relationships with the SBI community from the first day of the employee joining the bank. “A Facebook group of around 1,500 new recruits from PO batch of 2015 is already active since December 2015,” according to the statement.The government’s public sector bank reform initiative - Indradanush — which was unveiled by the finance ministry in August last year, had included skill development and talent management to measure the performance of public sector banks. They are called key performance indicators or KPI. The ministry said human resource management would have five per cent weightage in KPI.
From this year, SBI will be recruiting employees from among top performers in colleges.
Improving human resources was one of the key themes of SBI Chairman Arundhati Bhattacharya. The bank’s business per employee has increased from Rs.7.04 crore to Rs.12.34 crore between FY11 and FY15. Profit per employee also increased from Rs.3.85 lakh in FY11 to Rs. 6.02 lakh in FY15.
The bank is leveraging Facebook to encourage peer-to-peer interaction
