Bank Jobs in India : High Attrition Rate

In a study done by the Business Line it has been found that while on one hand a mad rush for bank employment and, on the other, a good number of selected candidates are rejecting job offers.

As per the data provided 15-20 % of the selected candidates are not joining their jobs. Even those who are already working in Bank are also searching for other career options. For example of the 730 probationary officers selected by Union Bank of India, only 583 joined. And, of the 490 to whom Vijaya Bank issued joining letters, only 380 reported for duty. Central Bank of India could fill up only 275 of the 505 trainee officer vacancies in the unreserved category.

What are the reasons for such trends? We have also analyzed this issue and the reasons which are likely are:

Place of Posting: Place of posting is a major issue generally banks post their employees far from their native places.
Frequent Transfers: there is no set norm for transfer. A Bank Employee can be transferred anywhere anytime.
High Pressure Jobs: Bank jobs are high pressure jobs, there is pressure from public as well as from bosses.
Abnormal working Hours: There is no set time norms for Officers in Banks. Officers can be found working in the bank any time.
Tough working conditions: Working conditions are quite tough, Officers are responsible for each and everything. Now a days clerical jobs are also high pressure jobs.
Low Salary: Keeping in mind the tough job profile of the Managers, salary is quite low in comparison to the similar positions in other industries.

Despite all this lakhs of students are preparing and planning for Bank Jobs as a Career Option. But after getting a job if they find even a little better option many of them quickly leave the Bank Job.

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