Transfer Policy in Banking Sector : Striking a Balance Between the Organizational and Personal Priorities of the Employees and Still Keeping Them Happy
Transfer Policy in Banking Sector : Striking a balance between the organizational and personal priorities of the employees and still keeping them happy Introduction
Change is a part and parcel of life, where the ability to adapt and encompass the changed scenario differentiate one’s success or failure. Transfer in the job is a regular change process for an employee. While the objective of transfer policy has been enlargement of job profile of the employees, it has been seen by the employees as personal comfort issue. There are statutory requirements also to complete specific assignments before promoting employees to higher cadre where transfer becomes inevitable. In financial organizations, breaking of prolonged stay in a particular assignment is required to promote transparency and change in vision. However, transfer policy should aim at employee satisfaction and can be used as an effective reward-recognition-punishment tool.
Policy Framework
The policy framework for transfer should be holistic to strike a balance between the organizational priorities and employees’ expectation – a difficult job for HR managers. In large banks, considering the size of organization and profile of employees, the transfer policy should be a long term policy. A short term policy benefits officers eligible/in-eligible during the policy enforcement period. The key parameters can be:
• Centre Stay : The most important criteria transfer should be the period of service in a centre as it goes with the primary objective of transfer. The maximum period of stay in cities (Say 5 years) could be more than that of interior places where an employee would like to stay longer. Similarly, the period of stay in rural and difficult placed can be capped at 2 years.
• Job Profile : Banking services have been changed from the normal debit-credit process to syndication, merchant banking, IT modelling etc. Therefore, job profile of the employee has to be one of the key parameters of
Change is a part and parcel of life, where the ability to adapt and encompass the changed scenario differentiate one’s success or failure. Transfer in the job is a regular change process for an employee. While the objective of transfer policy has been enlargement of job profile of the employees, it has been seen by the employees as personal comfort issue. There are statutory requirements also to complete specific assignments before promoting employees to higher cadre where transfer becomes inevitable. In financial organizations, breaking of prolonged stay in a particular assignment is required to promote transparency and change in vision. However, transfer policy should aim at employee satisfaction and can be used as an effective reward-recognition-punishment tool.
Policy Framework
The policy framework for transfer should be holistic to strike a balance between the organizational priorities and employees’ expectation – a difficult job for HR managers. In large banks, considering the size of organization and profile of employees, the transfer policy should be a long term policy. A short term policy benefits officers eligible/in-eligible during the policy enforcement period. The key parameters can be:
• Centre Stay : The most important criteria transfer should be the period of service in a centre as it goes with the primary objective of transfer. The maximum period of stay in cities (Say 5 years) could be more than that of interior places where an employee would like to stay longer. Similarly, the period of stay in rural and difficult placed can be capped at 2 years.
• Job Profile : Banking services have been changed from the normal debit-credit process to syndication, merchant banking, IT modelling etc. Therefore, job profile of the employee has to be one of the key parameters of