BoB hires US consultancy to groom talent

Bank of Baroda (BoB) has appointed US-based consultancy firm , Wright Management Grow, to groom 300 employees in the scale-4 and above segments, as future senior managers.

"The level of loyalty and commitment is very high among this bunch, in spite of the poor compensation package, so we decided that it is necessary to provide them with good development program along with an attractive incentive from the total profit," said A K Khandelwal, chairman and managing director.

The bank has devised several training programs to train recruits at various levels. "The deficiency of talent is one of the major concern that we are facing today, and as of now I believe that human capital adequacy is the key issue not the financial capital adequacy," he added. The bank has been imparting specialised training for 500 young people in new segments such as mutual funds, wealth management and others. At the same time, the bank is also training 100 people for frontline sales and customer services.

According to the CMD, the retirement rate would be very high in the next three years and as such the bank has also undertaken an internal talent hunt process named "Khoj".