Recruitment scenario in Indian banking industry
With the immense growth of sectors like retail, housing, healthcare, hospitality and education, etc., the growth of Indian banking industry can be expected to multiply. Banking operations are sophisticated in nature; banking employees are considered most alert working group among all industries as most of the time they need to deal with numbers and currency.
Recruitment prospects
The banking industry is recruiting in a big way. Today, banks have diversified their activities and getting into new products and services that include credit cards, consumer finance, wealth management, life and general insurance, investment banking, mutual funds, pension fund regulation, stock broking services, custodian services, etc. The expansion of the banking sector and its convergence with the other financial sectors such as insurance, NBFCs and capital markets, is creating huge demand for manpower.
In the next five years, banks will have to recruit almost 7.5 lakh people in order perform their operations.
Recruitment assistance to banks
The emergence of banking recruitment consultants have made the candidate search easy in today’s competitive scenario. They provide complete solutions for recruitment for banking, sector. These consultants attract candidates by drafting advertising copy for use in a wide range of media, as well as by networking, headhunting and through referrals. They screen candidates, interview them, do background checks and finally match them with the client requirements. Recruiting agencies also provide advice to clients on salary levels and training requirements for candidates. Advantages provided by recruitment agencies By hiring placement consultants:
- Banks can save a lot of their resources, cost and time
- Banks need not to plan for human resources much in advance
- Management can focus on other important tasks
- Banks are free from the burden of weeding the unsuitable resumes, salary negotiations, etc.
- Value creation, operational flexibility and competitive advantage
Types of agencies
Types of employment agencies include executive search firms, recruitment consultancies and temporary agencies. Recruitment consultancies deal with permanent positions while temporary agencies work exclusively on temporary or temporary-to-permanent positions. High profile and top management job positions are generally handled by executive search firms.
Top consultant in banking sector
ABC Consultants is the front runner staffing solutions provider in the financial services sector. They have trained and experienced financial recruiters with in-depth expertise and experience about the sector. These recruiting agencies, intricately understand the banking and finance marketplace and have successfully fulfilled the vacancies throughout the nation. The clients of the company consist of major investment banks, corporate commercial banks, investment houses, business groups and rating agencies.
Some of the banking profiles in which they are proficient include Operations Manager, Relationship Manager, Branch Manager, Insurance advisors, Unit Managers, etc.
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