Average age of IOB staff will fall further: CMD

 

 

At Indian Overseas Bank, promotions are happening thick and fast. Officers can become managers in less than two years. Apart from a conscious attempt at fast-tracking talent, the rapid expansion of its branch network is helping youngsters grow fast. M. Narendra, CMD of the bank, said the bank has opened more than 1,200 branches and recruited some 11,000 people in the last three years. The bank recruited around 4,500 people in the current fiscal alone. Of them, around 2,600 are officers. The attrition level is minimal, he added. Narendra said the new recruits become managers within one-and-a-half years because of the opportunities thrown up by expansion. “The average age of employees is 46 now. Earlier it was 52-55. Ideally, my endeavour is to take it to 35 years,” he said, adding that the age profile will come down further in the next three years.