Article: SBI seeks government nod to share 3% of profits with its employees

Employee Relations

SBI seeks government nod to share 3% of profits with its employees

State Bank of India is seeking the government's permission to dole out up to 3 per cent of its annual profits to staff in incentives in an attempt to draw top talent that normally make a beeline for private sector behemoths such as ICICI Bank and HDFC Bank. The state-run giant also plans to give stock options to employees above the rank of assistant/deputy general manager, hoping that it will help retain talent and improve performance.

State Bank of India is seeking the government's permission to dole out up to 3 per cent of its annual profits to staff in incentives in an attempt to draw top talent that normally make a beeline for private sector behemoths such as ICICI Bank and HDFC Bank. The state-run giant also plans to give stock options to employees above the rank of assistant/deputy general manager, hoping that it will help retain talent and improve performance.

Read Economic Times for full report here.

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Topics: Employee Relations, #National

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