Recently, about 15000 employees quit the Bank being unable to cope with the pressure and changes post digitisation.
Axis Bank was struggling with attrition, with about 15000 of its employees leaving over a period of nine months, unable to take the work pressure and uncomfortable with the change in culture. The resignations have created a number of vacancies, for which the Bank is looking at the Indian Institutes of Technology (IITs), The Indian School of Business (ISB), and for the first time ever, the National Institute of Design (NID) too.
With more than 500 new branches set to open, the Bank is open to providing employment to candidates from the rural areas and tier-2 cities. It will be adding about 4000 jobs in the next few months.
Of late, the focus on automation and digitisation had brought in a lot of changes, which not all could handle, leading to resignations in big numbers, including senior executives. However, now, the Bank and its subsidiaries plan to employ about 25,000 to 30,000 employees in the next two years.
This fiscal witnessed the Bank hiring 28,000, including candidates for roles in risk, compliance and cyber security. Among the positive changes brought about, the Bank has created a library of 2,000 courses for its employees. However, overwhelmed by the changes and the uncertainty, not all employees have been keen to avail such learning and development opportunities.
In 2019, Axis Bank added an automation unit to its banking operation, hiring almost 800 digitally-skilled employees with expertise in big data and analytics, artificial intelligence (AI), robotics, cyber security and process automation.
