The banks cannot afford to be complacent while recruiting new set of employees as their recruitment decisions today would determine the performance of their respective organizations over the coming decades. They must use more statistical tools to foresee their manpower needs over the medium to long term and prepare themselves by better planning.
Sound MIS should form the basis of all manpower planning decisions including recruitment, placement, performance management, etc. The gap in knowledge and work experience between the outgoing and incoming groups is, however, significant and the impact of this transition could be potentially disruptive. This gap needs to be filled by “mentoring and coaching” the new incumbents by senior executives.