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StanChart to hire 2,000 professionals in 2009

StanChart to hire 2,000 professionals in 2009
PTI
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First Published: Sun, Mar 01 2009. 05 16 PM IST
Updated: Sun, Mar 01 2009. 05 16 PM IST
Mumbai: Global Banking giant, Standard Chartered Sunday said it has no plans to freeze hiring in India despite the challenging market conditions and would recruit around 2,000 professionals this year.
StanChart had recruited 4,000 people in the last calendar year but has decided to scale down fresh recruitments in the face of financial downturn that has hit its operations globally, StanChart human resources regional head Madhavi Lall told PTI here.
“We have not stopped hiring. Although, the number of new recruits may be lower in 2009 as compared to last year, the bank plans to recruit 1,500-2,000 people in the current calendar year,” Lall said.
The lender already recruited 110 people in the last two months while it plans to hire 28 more people by July to strengthen its various business divisions, Lall said.
“These 28 people will be joining us from IIMs. The bank will go ahead with its hiring plans in the months ahead, which will include campus recruitments,” Lall said.
Presently, StanChart has a staff strength of 19,000 in India as against its global headcount of 75,000, Lall said.
Out of 19,000 total employees, around 6,500 people operate in StanChart’s retail banking division.
StanChart has not seen any alarming trends in its attrition levels in spite of adverse market situations, Lall said.
“We have seen an attrition rate of 14% this year as against 17% in the last calander year. This rate is well below the industry average of 20% and is happening mostly in junior levels,” Lall said.
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First Published: Sun, Mar 01 2009. 05 16 PM IST