Kotak Mahindra and Axis Bank, two of the largest private banks in India have said they would hire more than 2,000 fresh graduates each leading up to recruitment of around 5,000 freshers. Tech and design skills are two of the focus areas in terms of hiring.
According to a report in The Economic Times, Kotak Mahindra said that it would hire 2,600 freshers this year. Sukhjit Singh Pasricha, Kotak Mahindra Bank's chief human resource officer told the daily that they generally hire 2,500 fresh graduates every year that account for a quarter of its total hiring. He said that around 60 per cent of fresh graduates are generally absorbed in frontline acquisition roles, while 20 per cent are hired in service roles, 15 per cent are hired in their in-house contact centre and the rest by operations and miscellaneous roles across segments.
Axis Bank said that it would hire more than 2,300 fresh graduates. Out of that, 2,000 would be for entry-level roles, around 200 from B-schools and a hundred from IITs and NITs. Rajkamal Vempati, HR head in Axis Bank said that they are focussing on hiring in risk, compliance and cybersecurity roles. IT and analytics are also two of the key areas.
There has also been an increase in the demand for highly specialised talent in multiple fields including analytics, digital banking, artificial intelligence and information security. There has also been a surge in demand for core banking roles such as acquisition, relationship and service.
Pasricha also said that while availability is not a problem, mobility of the workforce is extremely limited. He said that the millennial workforce also expects to get into a strategic role right at the beginning of their career without any exposure to the ground realities of the industry.