scorecardAfter 19% attrition, Axis Bank is headed to IITs, ISB and National Institute of Design for hiring
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After 19% attrition, Axis Bank is headed to IITs, ISB and National Institute of Design for hiring

After 19% attrition, Axis Bank is headed to IITs, ISB and National Institute of Design for hiring
Careers2 min read

  • Axis Bank has been implementing structural rearrangements, under its Chief executive Amitabh Chaudhry leading to over 15,000 resignations in the last three quarters.
  • The bank, however, plans to hire at least 25,000 new ‘digitally-skilled’ employees in the next two years including freshers from IITs and ISB, it told Business Insider
  • This may be attributed to the bank’s transition to automation. Last year, it added an automation unit to its banking operations — hiring nearly 800 digitally-skilled employees.
  • It aims to add another 4,000 employees over the next three months — especially from the rural areas and tier 2 cities.
Axis Bank Chief Executive Amitabh Chaudhry’s push for digitisation and automation has forced out 15,000 people from its ranks in the last 9 months. That’s nearly one in every five Axis Bank employees who have resigned.

What is interesting is where Axis Bank is looking for replacements. “We have robust plans to add another 25,000 to 30,000 employees in Axis Bank and the subsidiaries in the next 2 year or so,” the company told Business Insider. This will include campus hires from B-schools like ISB (Indian School of Business) and IITs (Indian Institute of Technology). It will also hire from the National Institute of Design for the very first time.

The bank statement also said that it has hired nearly 28,000 employees this fiscal. “This year, we have also focused on hiring in risk, compliance and cybersecurity roles,” the head of Human Resources, Rajkamal Vempati, told the Economic Times.

This is the big change at Axis Bank

The bank has developed a library of 2,000 courses for its employees, as a part of their learning and development initiatives. But not everyone is ready to upgrade. “With the complete overhaul of the way the bank functions, many are left wondering about their roles. While many old-timers are feeling a bit of discomfort with the cultural change,” the Economic Times reported.

Last year, it added an automation unit to its banking operations — hiring nearly 800 digitally-skilled employees in areas such as big data and analytics, IT, process automation — AI, Robotics and Cyber Security.

Other jobs on the anvil

India’s third-largest private bank aims to add another 4,000 employees over the next three months, especially from the rural areas and tier 2 cities, as 550 new branches are set to open.

See also:
Benching, firing and re-deploying — the story of 20,000 employees at tech majors

SBI, Kotak Mahindra and Axis Bank are going digital — hiring for AI, analytics and other tech profiles

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