India’s BFSI Boom is Real. So is the People Crisis Underneath It.
India’s BFSI sector is expanding at a pace few industries anywhere can match, new branches, new credit markets, new digital channels, new agency forces. The hiring numbers are remarkable. And yet a quiet crisis is building from within: the industry is adding people faster than it can develop, retain, or build them into the workforce it actually needs.
When we started Benevolve, the problem we kept hearing from BFSI leaders was not “we can’t find people.” It was “we can’t hold on to them, and we don’t understand why.” That question — why are we losing people we invested in, and what could we have done differently, is what this article is really about.
The attrition economics that no one is talking about loudly enough
Frontline attrition in private banks runs at 30–40% annually. Loan sales teams regularly exceed 100% annualised churn. A relationship manager who leaves at month eight...
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