Indian lender to let staff “work from anywhere”
While the ongoing Covid-19 pandemic has forced many companies to allow their employees to work from home to run their businesses, the country’s largest bank now sees it as a permanent option. In fact, the state lender State Bank of India is going even further by introducing a “work from anywhere” policy for its employees.
The bank, which employs 250,000 people, has already deployed this policy in its 19 overseas offices and will soon implement it in India. The bank hopes to reduce its operating costs and improve the productivity of its staff.
With this announcement, the State Bank of India has expressed its willingness to accept remote working as a long-term measure. President Rajnish Kumar said, “With the global acceptability of work at home arrangements, the bank is upgrading its existing work from home policy to work from anywhere. The productivity tools and technology are already in place to do the administrative work remotely.
The bank has also identified central business continuity branches that will physically serve customers in an emergency and support essential back-end services.
The State Bank of India is also planning to further develop its Yono digital banking platform and has set a goal of doubling user registrations over the next six months. It also provides end-to-end home loans, pre-approved auto loans, and gold personal loans through its digital platform.
Previously, Aditya Puri, managing director of HDFC Bank, said about a third of the bank’s employees work from home and the practice would likely continue even after the pandemic is over, as it cuts costs.
Axis Bank also wants to make teleworking an integral part of its corporate culture. Bank executive director Rajesh Dahiya said adapting to work from home or work from anywhere would help attract diverse talent pools, break down geographic boundaries and give employees more. of choice.
Many software companies have already made elaborate plans to allow employees to work from home even after the lockdown. India’s largest software exporter, Tata Consultancy Services, has said that by 2025, only a quarter of its total workforce will need to visit the office. The company employs nearly 450,000 people and is also the largest private sector employer.
The second largest software company, Infosys, said 33% of its staff – around 80,000 of its 242,371 employees worldwide – will work from home all the time. However, the company did not provide any timeline for this transition.