New Delhi: The Bank of Baroda (BOB) is reportedly planning to make work-from-home (WFH) a permanent policy for a section of its employees. If things fall into place, BOB will become the first PSU to implement work from home permanently, for roles that don’t need to be in the office. Also Read - Do You Keep Cash in a Bank Locker? If Yes, This Viral Video is a Must Watch!
As per a report in The Times of India, the state-run PSU has also appointed management consultancy firm McKinsey & Co to help in implementing a strategy for a post-coronavirus world. Also Read - Good News For Jan Dhan Account Holders: No Charges to be Levied by Banks for Debit
Speaking to the portal, Sanjiv Chadha, managing director and CEO of the bank elaborated the terms of reference for appointment of the consultancy firm. Also Read - Home Loan Interest Rates Hit 15-year Low: SBI, Bank of Baroda, HDFC Bank Launch Festive Offers
“It included things like, if we had our staff working from home, or if they were working from a hybrid environment where they would come to the office for one or two days, how do we implement that? How can we leverage staff resources better, give them flexibility and also open ourselves for hiring talent which might be there but not available for full-time employment?” The Times of India quoted Sanjiv Chadha as saying.
Besides, BOB is also implementing a strategic transformation initiative which includes ‘New Ways of Working’ and ‘digital-led experience’ for its customers to ‘unlock growth potential’.
It has reported a net profit of Rs 1,061 crore for October-December quarter of the ongoing financial year as against a net loss of Rs 1,407 crore in the year-ago quarter. Sequentially, net profit declined 37 per cent from Rs 1,679 crore in the preceding July-September quarter.
Bank of Baroda is an Indian multinational, public sector banking and financial services company. It is the third-largest public sector bank in India, with 131 million customers, a total business of US$218 billion, and a global presence of 100 overseas offices.