Will the mixed model of Citi Group change the work culture of Bank of India?
For most Indian bankers, work and life balance is a myth. For a long time, the client interaction and unrealistic goals of the back pair make the bank one of the most stressful jobs. Employees are often forced to work late, work on weekends, and operate in the high -pressure environment with zero flexibility.
Unlike the IT and the company’s department, long-range work becomes common after COVID-19, and the Indian Bank still requires strictWork from the office “ Routine-No matter how tired it becomes.
Now, Citi Group has taken bold moves to challenge this rigid system.
Big Announcement of Citi Group-Hybrid work model continues
Although most financial institutions have forced employees to return to the full -time office, Citi Group has decided to continue its mixed working model. This means that employees will work flexibly from their families and offices according to their roles and requirements.
The announcement is not only a bank, but also involves setting up new precedents in the global banking industry.
But what does this mean for India’s banking industry? Does the model apply to the Indian Bank, especially the branch of the Indian Citi?
What is Citi Group, where is Citi Bank suitable?
Citi Group is a global financial power that operates more than 160 countries/regions with multiple business departments. Citibank is one of its most famous subsidiaries, mainly involving retail banks, credit cards and corporate banking services.
Citibank has been operating in India, but has been expanding its retail banking business in recent years. However, its company’s banking department is still active and raised a question:
Will the mixed work policy of Citi Group affect the Indian branch of Citibank?
Is Citi Group’s hybrid mode applied to the employees of Citibank in India?
The biggest challenge for implementing a hybrid work model in India is the business of branches. Unlike investment banking business and background positions, retail banking employees must attend services to customers in branches.
This is why Citibank India may not be able to implement a mixed work in its bank branch:
- Indian banking culture is very traditional. People think productivity = physical existence.
- Customer service dependence. Unlike the company’s banking business, retail banks need face -to -face interaction.
- Regulatory constraints. Indian reserve bank guidelines and compliance requirements are strictly internal operations.
However, Citi Group’s policy can be applied to non -customer roles, such as:
- Risk management team
- Investment banking business
- Background function
Therefore, although the mixed power work is unlikely for employees of branches, this may be a choice for Indian -based Indian companies.
What impact does this have on other banks in India?
The decision of Citi Group (such as HSBC, JP Morgan Chase) and Standard Chartred for other global banks (such as HSBC, Morgan Chase) and Standard Charted are considered to consider the flexible work model of corporate characters. However, the impact on public sector and private Indian banks may be restricted.
Why?
- Indian banking culture has resistance. Most PSU and private banks are still operating in the office -based working environment.
- Management mentality. Many bank leaders believe that “if employees are not in the office, they will not work.”
- Customer expectations. Indian customers still expect to visit physical branches to make the full mixed work unrealistic.
However, if the global banks begin to adopt a hybrid model, the Indian Bank may be forced to re -consider its strict policies, especially for roles that do not need directly customer interaction.
Real questions-Will the Bank of India adapt to hybrid power work?
Citi Group took a big step, but the reality is that most Indian banks are not ready to mix.
The only way to consider the flexible work model to consider the flexible work model is:
- Increased employee pressure-If the banker requires a better job and life balance, it may be forced to adapt to the bank.
- The Global Bank takes HSBC (HSBC), standard leasing and JPMORGAN using hybrid power work in India as an example. Others may follow.
- The use of technology will improve-if banks invest in digital customer services, the roles of certain branches may become far away.
At present, the hybrid work of the Indian banking industry is still a distant dream. However, Citi Group’s decision proves that if the industry is willing to develop, it is possible.
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