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HUMAN RESOURCES AUDIT IN RBI

The Reserve Bank of India (RBI) has embarked on its biggest ever human resources (HR) auditprogramme to take a complete re-look at its man management practices.

The central bank, which is facing challenges on the manpower front from various directions suchas retirement and skill upgradation, has hired Hewitt Associates for the exercise during its

platinum jubilee year.

HR audit, regarded as a diagnostic tool rather than a prescriptive instrument, is a process which

examines the organisations HR policies and procedures to reveal the strengths and weaknessesof employees and suggests solution wherever required.

The initiative, first of its kind in many years for the 20,000-odd central bank employees, isaiming to seek feedback from its employees about job satisfaction and future prospects.

Internally, RBI faces a huge challenge with a large number of its Grade-A officers, who weredesignated as assistant managers due for retirement in the next few years. The 5,553-strong

Grade-A officers of the bank form the largest chunk among all categories and are responsible for

core operational areas such as clearing operation and cheque processing. As on December 31,2008, the central banks total staff strength was 20,952.

In the backdrop of the global financial crisis, the central bank has decided to hire specialists inareas such as derivatives and risk management from the private sector. To start with, it plans to

fill up vacancies with outside professionals. According to RBIs internal estimates, employee

attrition, apart from retirement, is around 10-15 per cent. HR management dominated RBI

discussions during the three-day re-treat in November. It was attended by more than 50 top

officials of the central bank, including the governor and deputy governors.

The global HR consultant firm, which started the process with a detailed questionnaire of over

100 questions, however, got a lethargic response from RBI staffers.

The queries for feedback were divided into four chapters, ranging from employees satisfaction

level regarding remuneration, housing facilities, job environment, relationship with peer groups

and subordinates, job-related facilities such as office infrastructure and promotion policies.

The most critical aspect of the survey was the feedback on immediate bosses and about the top

management. They wanted to know how supportive and motivating are the immediate bosses and

whether the top management provides the leadership, said an RBI official.

The feedback form, which was circulated electronically in November with a one-week deadline,got only 15 per cent response. The deadline, was later extended four times, but sources said only

50 per cent of the employees responded.

Some central bank employees explained the poor participation to a lack of communication

between the top officials and their juniors.

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