SBI rewards performers with overseas training

Talent retention is increasingly emerging as a challenge for public sector banks (PSBs). Their limited ability to reward top performers is one area where PSBs lose out to private sector peers. With some new banks expected to enter the space in about a year or so, the competition for talent is sure to get tougher. Recently, banking major SBI hit upon an idea to reward its performers in a way that may become an example for other PSBs. Last fiscal was a good year for DFHL, the bond dealing arm of SBI. However, it was not possible for the bank to reward DFHL’s top performers with huge bonuses or hikes. So Pratip Chaudhuri, the recently retired chairman of SBI, offered DFHL’s performers a week’s training at London School of Economics or Euromoney — at the bank’s expense. The training helped the executives establish foreign links for the bank’s bond house, which is almost a necessity in the present market.

TOI