Talent retention: SBI wants to share up to 3% profit with staff

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New Delhi: State Bank of India today said it plans to offer up to 3 per cent of annual profit to employees as part a talent retention and motivation initiative.The bank has sought permission from the Finance Ministry in this regard, SBI Chairperson Arundhati Bhattacharya told PTI.“ …if you consider the fact that incentivisation is a good way of ensuring people meet up to whatever are the challenges…they respond to them. So to that extent government allows us to share one per cent. We are saying that it is necessary for us to hike that amount to 3 per cent,” she said.The matter is now before the Finance Minister who will take a decision in this regard.“It is necessary especially for people in senior management and mid-level management, the amount that they get in the private sector is much higher than they get in the public sector,” she said.As a result what happens is that people who come up to the higher levels because of their merit and hard work, are easily picked up by private sector, she said.The bank has about 2.3 lakh employees.

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