Union Bank of India, Mumbai, has decided to ensure that all its employees become productive and good performers. Though an inter-office memo, its human resource department has instructed all the regional and zonal heads to submit a list of non-performers and keep a close watch on their performance over the next three quarters. The identified employees will be officially told to improve their performance and will be informed that their work will be reviewed at regular intervals.
The Bank has clarified that its intention is not to punish the underperformers. It merely wants to ensure that its employees become good performers and add value to the organisation by putting their potential to good use. It wants all its employees to contribute such that the Bank becomes widely known for its sense of responsibility, responsiveness and inclusiveness. The Bank also wishes to invest in employee development.
The organisation realises that it can only aim for more profits if its work culture revolves around good performance.
This exercise will also help the Bank evaluate the areas of non-performance and take necessary corrective action.
A net profit of Rs 225 crore was reported by the Bank for the June quarter, whereas the per employee business stood at Rs 19.9 crore. The profit per employee was Rs 20.2 lakh as on March.
Union Bank’s measures to give a push to the non-performers comes on the heels of the Central government’s recent order to review the service records of government and public-sector staff, in order to get rid of non-performers and corrupt employees.