But unfortunately in banks , top management use to differentiate between those who are number one YESMAN of boss i.e. number one flatterer and those who are not. This is why flattery culture is more rampant than performance culture in bank. Assets are turning bad and profitability is facing erosion in every quarter but the flatterer has the key and the capacity to manipulate the facts and figures as per whims of bosses.Officers feel joy and pleasure not in working for the bank but for the welfare of their bosses.They can spend lacs of rupees in extending red carpet welcome to their bosses so that they may get quicker promotion , better posting and continue their earning through illegal means and through bad lending.
These flatterers are playing with bank's money as per their sweet will and hence bank employees in general cannot dream of respectable wage hike in 10th Bipartite settlement which is due as long as these flatterers are holding in key posts in management and in unions and associations.
This is one of the key reason why talented youth joining banks every year and leaving the job within a year or two even if he or she has to opt for a lower pay package.
Bank management is falsely attributing lower wage as reason for higher attrition rate but the fact is that the environment in banks for new recruits is not at all pleasant,satisfactory and conducive for career growth and for respectful living.
New youth who get opportunity of joining other private banks or other companies avoid joining public sector banks. Youth who are under compulsion of employment and who are not getting job elsewhere only like to join a public sector banks after passing IBPS examination. They do not like flattery and when they find the work culture totally contrary to performance they start hating such job.It is undeniably true that they face humiliation in the hands of their bosses , they find their work below their talent and potential and hence they feel it better to search other job.
It is worthwhile to mention that three decades ago, i.e. in seventies and eighties , unemployed youth used to be crazy to find and get a bank job , either as an officer or a clerk or as a peon.Bank employees had great respect and recognition in the society and BANKS ALSO USED TO PROSPER when bank staff used to be happy. Attrition rate in banks was Zero in those days.
Now bitter truth is that ,Not only young but even old staff are dissatisfied with their job profile and their stagnation in career movement compared to their counterpart in other government jobs. This is why not only youth but even senior officers who have served their beloved organisation for two or three decades are unhappy with their work.
Top executives who contributed in creation of bad assets are not sitting at top posts and they behave very ruthlessly and cruelly with their subordinates when they fail to recover the dues from loan defaulters or when they fail to achieve various targets given by top executives. Every branches is facing acute shortage of manpower but they have to compete the allotted task by hook or by crook. Late sitting has become a common feature in all banks. Sundays and holidays and leave have becomes a matter of past and totally dependent on the mercy of top bosses. Family life of junior and middle management officers has become pitiable.
Most of officers are sick of various serious diseases caused due to stress and strained life . Social life of bank officers has become zero. Majority of officers spend more than 12 hours a day in bank and unable to see even the face of their children and wife.In such environment those who join banks as officer think it better to leave the bank's job as early as possible and seniors hesitate to take the responsibility of higher post such as Branch Head.
It is therefore young officers who are totally inexperienced are given the duty of branch head and officers with no exposure in branches and administrative offices are made Regional Head. There is as such no doubt that future of bank in the hands of such inexperienced officers is bleak and there is no doubt that banks are inviting bigger problems. Volume of bad assets will grow and grow only . Profitability will face erosion and possibility of respectable wage hike is dismal.
More or less the same position persist in all government owned banks, insurance companies and all public sector undertakings . flattery and bribery culture has forced honest performers to lead a silent life and to remain silent spectator of all corrupt dealings of the bosses or leave the bank job for peaceful leaving with their family.
When our government is made by flatterers , made for flatterers and made of flatterers , why government staff will not follow the suit? In our country caste and communities are given more weightage and the word 'merit'' has got no recognition in practice.Indian talent can earn name , fame and money in foreign countries but not in India.
This is why Indian Talent Going Abroad--Private Companies Ready to Pay 30% Hike to sustain Performers But Banks Not Ready Give Similar Hike In 5 Years
Top talent to get better salary hikes than rest, India Inc plans increment of 14.1% for high-fliers
Top performing executives in India Inc are likely to walk away with a disproportionately higher share ofincrement payouts this year, more than ever before. Officials from a cross section of companies, includingHDFC Bank and ICICI Bankin financial services, Ashok Leylandamong manufacturers and Dabur, LG and Shoppers Stop in the consumption space told ET reporters that they will reward top talent disproportionately more than other executives.
The annual salary increment survey by global human resource consulting Aon Hewitt, released on Wednesday, quantifies this growing gap between high-flyers and the rest for the first time ever. Key talent will get an average 14.1% pay hike this year while average increments across the board will be only 10.3%.
These average numbers, however, mask the sharp differentiation that is now creeping in between India Inc's very best executives and all the rest.
At Ashok Leyland, for example, junior level top performers will get 25% increments while the rest will get only 10% in the 2013 increment cycle. Compensation experts say that top talent can get increments as high as 15-18% or even more this year while lesser performers will get only a 0-4%.
This sharp divide is emerging in a year when average increments, according to Aon Hewitt data, will be among the lowest in recent memory, a clear sign that employers are placing a premium on their best performing execs.
"So far, most companies only spoke about pay for performance," says Muninder Anand, director - information solutions, at consulting firm Mercer. "Now, it is actually coming into play."
Adds K Sudarshan, managing partner, EMA Partners: "Differentiation is key. One needs to differentiate between those who are good and those who have potential to grow further."
Companies in sectors that are doing well and in sectors that aren't are both leaning towards rewarding outliers more.
Says K Ramkumar, executive director human resources, customer service & operations from ICICI Bank: "The business environment has been challenging and any entity incurring a wage cost of over 10% could be termed as being adventurous," Within this constraint, the bank will reward better performers more than the rest.
"We have given out a much higher increment this year because you need to keep your flock of best performers from being poached," says Umesh Dhal, VP, HR and MS, LG India. The company is targeting a growth rate of 20% for 2013. Adds A Sudhakar, senior executive director-HR, Dabur India: "The company is doing well and so we will take care of our best performers."
Videocon Industries CMD Venugopal Dhoot says that the top 30% performers in the group will be paid a 20% hike this year compared to 15% last year. The average increments, on the other hand, will remain the same as last year at 12%.
Aon Hewitt says that with salary budgets shrinking, organisations are creating sharp differentiation in salary increases between their key talent and the rest of the population. Over the years, this gap is widening. The differentiation is likely to happen more at the senior and top levels, compensation experts conclude
I therefore call upon bank staff to think primarily for good health and then for wage hike. If they do not care for their health now, they will repent later and will not be in a position to use and enjoy money saved by them. Wage hike will prove futile if staff becomes victim of serious diseases And If Their Family Also Becomes Hostile Due To Late Sitting In Bank Or If Their Children Is Trapped In Bad Culture Of Bad Friends In Lack Of Good Parental Control.
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