kotak mahindra bank: Attrition challenge mainly in Jr management; will pursue inorganic growth opportunities: Kotak Mahindra Bank

Kotak Mahindra Financial institution’s chairman Prakash Apte on Saturday mentioned the attrition problem for the financial institution is concentrated on the junior administration degree. Addressing shareholders, Apte additionally marked out pursuing inorganic development alternatives as a strategic driver for the financial institution going forward.

The personal sector lender has seen one of many sharpest spikes in attrition amongst friends, because the banking trade grapples with the issue of worker churn. Its total attrition stood at 50 per cent in FY24, in line with stories based mostly on disclosures.

“The problem of attrition predominantly is on the junior administration degree within the areas of gross sales, service, name centre and collections,” Apte mentioned.

It’s specializing in a number of areas resembling ease of working, higher engagement, coaching, benchmarking and expertise automation, he added.
He mentioned the financial institution feels nurturing the expertise pool is a precedence space and might be doing so by making a conducive work tradition that fosters innovation, collaboration and steady improvement. Constructing a crew of proficient, engaged and motivated workers options in an inventory of 9 strategic drivers which the financial institution might be pursuing going forward, Apte mentioned. The financial institution, which has had a historical past of acquisitions, can even pursue inorganic alternatives, Apte mentioned, together with this merchandise within the checklist of strategic drivers. Different strategic drivers embrace pursuing advances development, increasing entry to low-cost liabilities, preserving expertise at core and management in digital capabilities, Apte added.

He mentioned the financial institution aspires to be the ‘go-to’ financial institution for each Indian.