UBI to recruit 1,200 staff

Union Bank of India will add 1,200 personnel, close to 5 per cent of its existing employee strength, in specialist functions such as information technology and rural development during this financial year.

This fresh intake will cover three aspects "" branch expansion, sales growth and marketing and attrition through retirement and resignations.

The bank's manpower strength is 26,000.

Competition for talent amongst financial sector players and a better compensation package by the private sector are likely to pose challenges during the recruitment.

The bank is inducting persons across levels "" at entry point to senior positions such as deputy general manager "" to manage new branches, growth in functions such as IT and risk management, Chairman and Managing Director M V Nair said.

The banking sector business is expected to report a 22-25 per cent growth in tune with the 9 per cent annual growth in the Indian economy.

"We will like to expand book at higher rates than industry average," he said.

The public sector bank will open about 200 branches in this year and add 125-150 branches annually for next three years. This meansbranch-network will see addition of over 28 per cent to present base of about 2,250 branches. Second reason for the recruitment is to enhance marketing.

With intense competition among banks in urban and semi urban areas, the bank will need to grow strength of customer sales team which has "feet on the street".

Third reason is to arrest attrition. The number of people retiring is only going to grow in the next four years as they came in large numbers after the nationalisation of private banks.

Also, the public sector banks did not go in for continuous recruitment in 80's and 90's. A Union Bank official said after the the last year's recruitment drive, many public sector banks have seen that only 50 per cent of aspirants turn up to take up the job.

The lengthy process at state-owned banks and quick decision making in private sector are responsible for low response.