Fixed pay structure will no longer help PSBs retain talent.

Fixed pay structure will no longer help PSBs retain talent.

The idea of considering Employee Stock Options (ESOPs) in Public Sector Banks have been in talks for more than 5 years. In August 2015, Government announced to introduce ESOPs for the employees of PSU Banks. However there has been an air around actual implementation of the aforesaid idea. After a prolonged hassle of almost two years, the Finance Ministry has finally given its consent to implement ESOPs in PSU Banks.

The ministry is anticipating an improved performance and efficiency in the employees of PSBs due to introduction of this concept. This will make the employees of PSBs feel more valued and aligned to their work and targets and will lead to increase in bank’s profitability.

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