Mumbai, March 2022: HDFC Bank reported an increase of 21,503 permanent employees in the current financial year, an over 90% increase over the previous year. This number is projected to cross to 26,000 by the end of FY2021 – 22. In the previous financial year 2020 – 21, the bank had added 12,931 people.
The staff addition is part of the bank’s strategy outlined in the ‘Future – Ready’ plan, unveiled in 2021. As per the plan, the bulk of the hiring of over 13,000 people stems from the bank’s four broad Delivery Channels:
• Branch Banking;
• Tele-service/sales (including Virtual Relationship Manager channel);
• Sales Channels aligned with the business verticals;
• and Digital Marketing.
These channels allow the bank to reach the last mile, covering the length and breadth of the country including semi-urban and rural locations. The Bank has been ramping up these channels as part of the effort to enhance customer experience.
The rest of the recruitment is across business verticals such as Credit Cards; Retail Assets; Commercial Banking (Business Banking); and Govt & Institutional Business.
As part of the bank’s Technology transformation agenda outlined in the plan, two special focus units – ‘Enterprise Factory’ and ‘Digital Factory’ were also created this year – to synergise and integrate technology / Digital functions.
In order to anchor this expansion, the Bank has put in place a Talent Acquisition strategy which is positioned towards creating future ready talent pipelines through strategic academic alliances with eminent educational institutions. A key example is the Future Bankers Program. Another pillar of this strategy is hiring directly from campus – with a view toward creating the next generation of bankers.
“Our people have always been our core strength and with this hiring we are continuing to build on our ‘people advantage’,” said Mr Vinay Razdan, CHRO, HDFC Bank. “We are bringing in top-tier talent across the organisation and we are confident that our Future Ready teams will be significant growth drivers in the years to come, serving our customers across Retail, Commercial and Corporate segments. We have confidence in the growth opportunity available in the market.”