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Fire on all cylinders, SBI goads employees

L.N. Revathy

COIMBATORE, Jan. 4

THE threat of competition from the emerging genre of private sector banks appears to have instilled the `killer' instinct in public sector banks. And taking the lead here is none other than the banking behemoth, State Bank of India, which announced a VRS for its employees recently.

Through a circular in November, SBI gave a call to its employees to operate with a ``live wire'' and ``fire in the belly'' approach, to beat competition from private sector banks. This is deemed a `counter-attack' by an organisation which has largely bee n seen as ``unfriendly to customers, bureaucratic and slothful'' in its approach, in surveys conducted by it.

Setting aside normal hierarchical channels, top-level executives are now directly corresponding with branch heads on the strategies to be adopted to build the `new State Bank of India...banking through people.'

SBI is now in the midst of bringing about major changes in different areas like technology, personnel, organisational structure, systems and processes. Different teams are working on several projects concurrently.

Over the last few months, the views and suggestions of the banking public were sought by the management for incorporation in the new initiatives.

The employees have been told that in achieving their goal of `killing the competition' they must have patience, hope and enthusiasm as bringing about major changes in a gigantic organisation was not an easy task. ``It is challenging and yet possible,'' t hey have been told.

According to the circular, SBI's ``arise and awake'' initiative follows reports published in financial newspapers, press releases and advertisements about the way its competitors are ``getting away'' with its business. Although a trifle late, the SBI man agement believes that its core strength lies in reaching out to the customer through its own people.

The bank's workforce has, therefore, been advised to form teams, meet customers and to go to the marketplace to get fresh business. The Corporate Development wing of the bank is optimistic that this ``sudden attack'' by a large number of SBI officers on the marketplace would have a positive impact on business. The employees have been advised to ``back up the fresh business and existing clients with good, courteous service.''

Emphasis is laid on the ``people at the counter experiencing the change''. It has been made clear that unless the employees show a dynamic spirit under a positive leadership, this cannot happen. Therefore, they must operate with ``a live wire approach an d fire in the belly.''