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Axis Bank to hire 30,000 employees in next 2 yrs; open 550 branches in FY21

Gross hiring till December FY20 has been of 28000 employees and attrition inched up by 2 per cent in FY20

Nidhi Rai  |  Mumbai 

Axis Bank

to hire 30000 employees in next two years and subsidiaries. Gross hiring till December FY20 stood at 28000 employees compared to 14500 employees in December FY19. The net new hiring for the bank stood at 12800 employees till December FY20 compared to 3000 employees till December FY19. The bank plans to add another 4000 more employees in the last quarter of FY20 . Much of this is being hired in semi urban and tier 2/3 towns and rural India.

has added additional unit which is working on intelligent automation across banking operations with use of artificial intelligence, machine learning, big data and RPA (Robotic Process Automation). Bank has added 800 employees in this vertical.

The bank has 75000 employees in total, which was 60000 in FY19. However, the bank has reported two per cent spike in its attrition. Till December FY20, bank has reported attrition of 19 per cent compared to 17 per cent of the same period. 15000 employees have exited the bank in nine months which the bank calls early morality i.e leaving their jobs in first six months due to different reasons. Bank says this attrition is mainly at the junior level such as assistant manager, manager and officer level.

Talking about attrition, Rajesh Dahiya, Executive Director, said that, "15000 employees have left in last nine months but we have hired 28000 employees which is replacing 15000 employees and adding 13000 more employees."

Bank is also focusing on gender ratios where it has added 30 percent more women managers in its workforce. “Axis Bank is on track for its “Growth, Profitability, Sustainability” (GPS) strategy. We are one of the largest recruiter in the country .Diversity and inclusion is another focus area, Today we have 1/3rd of our branches headed by women leaders. The Bank is expanding fast and this has been a year of large number of new hirings; substantially higher numbers compared to last year both in gross as well as on net basis”, added Dahiya.

The bank in planning to open 550 branches in this financial year compared to 400 branches last year.

First Published: Thu, January 09 2020. 18:04 IST
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