‘HDFC Bank’s focus is on service, inclusion, digital’
India’s largest private sector lender HDFC Bank Ltd is working on establishing a more inclusive workplace, enhancing customer service and strengthening digital infrastructure, chief executive officer Sashidhar Jagdishan said on Wednesday. In his message to shareholders in the bank’s annual report, Jagdishan emphasized the importance of fostering a supportive culture to effectively harness talent, potential and capabilities. To achieve this goal, the bank has implemented a managerial behaviour framework based on the principles of nurture, care and collaboration.
The “nurture, care, collaborate" initiative, which covered 12,000 managers in FY22, was extended to senior leadership and over 6,000 new managers in FY23. “I am fully aware of the fact that there may be instances where some people managers might transgress our defined way of working. But, we have the resolve to nip it in the bud, both by way of training and counselling and appropriate action, ensuring that the same is not attempted by anyone else," said Jagdishan.
He said HDFC Bank is yet to cover a fair distance and is taking steps to build an inclusive organization that will help rein in attrition. His remarks come in the wake of a recent incident where an employee was suspended after a video of him berating his subordinates went viral on social media during an undated group video call related to employee performance and their targets to sell products. The bank has seen an increase in attrition over last financial year and a significant part of it was at the ‘non-supervisory staff’ level, including sales officers, he said.
The bank saw attrition of 34.15% in FY23, according to the annual report. In 2021-22, the attrition rate was at 19.1%. It had also hired
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