India’s largest lender State Bank of India (SBI) is now looking to provide non-monetary incentives to employees to motivate them to work in the rural areas.
For instance, working in rural areas could add some weightage to the annual appraisal process or during promotions.
SBI had started an initiative to recruit probationary officers for rural areas, but it was not able to retain the officers in those regions.
It has been more than three years now since the concept was started, but bank executives admitted that the process was not successful. J N Misra, deputy managing director and corporate development officer at SBI explained that manning of rural branches is an issue.
“Rural branches are important for us as a part of our business considerations. Majority of our bank branches are in rural areas, so it is imperative that we have employees serving in those regions. We had a process of recruiting rural probationary officers. However, these officers did not want to remain in those regions on a long term basis, since they were of the view that their peers in the industry are at a much better position than them,” said Misra.
The probationary officers were required to serve 10 years in the rural areas, after which they could be posted in a location of their choice. Misra explained that people from the urban areas did not want to work in rural towns. Read More