Talent hunt in RBI: The Hindu Business Line
The Hindu Business Line, September 10, 2014
RBI talent hunt
This refers to the report “Reserve Bank to pick talent via UPS-like test” (September 9). In the present scenario, the move to go for common-cadre of officers in RBI and making recruitment process more broad-based and professional is in the right direction. But, the hurry with which the RBI top management is trying to implement the well-intended measures may make its own path slippery. Till a decade back, RBI used to learn from its own experience and make corrections midway. The present move gives an impression that RBI has not learnt any lesson from the failure of its ‘Executive Interns’ experiment*.
One option to minimize damage could be to allow the existing staff(within certain age limit and having needed qualification) to migrate to the new cadre after testing their ‘fitness’ through an appropriate evaluation. Better still would be creating a Financial Sector Service on the pattern of IAS and Tata Administrative Service(accepting the better features of both) which could be common for financial sector regulatory organizations and public sector banks including State Bank of India. Such service should first absorb the existing talent within the organizations and go for further recruitment after two or three years depending on need.
M G Warrier, Mumbai
*Please read my previous letter published in
The Business Line, July 21, 2010
Executive interns in RBI
This refers to the report “RBI to hire 200 executive interns'' (Business Line, July 20). Although on the face of it, the proposal may seem like a normal HR initiative at infusing young blood with expertise and enthusiasm at a lower cost, no in-depth analysis may be needed to find that this is a short-term remedy being tried out for a long term problem.
Sooner than later, the RBI, government and public sector organisations will have to wake up to the reality that their recruitment, training, placement and compensation strategies need thorough overhaul and this they have to do taking their existing employees into confidence.
A long-term solution may have to be found for the HR-related problems, including the inability to hire experts at market-related compensation.
The Government and public sector organisations may have to consider how best the ‘cost-to-company' (C to C) principles can be integrated into their existing recruitment, training, placement and career progression policies. This may involve the following:
Taking the existing employees into confidence with an assurance that the changes will only improve the working results of the organisation and they will get an opportunity to share the benefits and new job opportunities and so long as they are prepared to learn new things/upgrade their skills, the infusion of ‘experts' will not eat into their career progression opportunities.
Inter-mobility of executives in all cadres among comparable organisations. For instance, a banking/financial sector service could be evolved for institutions including those in the private sector and regulatory bodies in the financial sector.
A transparent guidance for remuneration package based on paying capacity/need for skills for different sectors. Proposals like the present one by RBI of shifting to C to C to reduce costs will send wrong and unhealthy signals.
M. G. Warrier
(This article was published in the Business Line print edition dated July 21, 2010)