HDFC Bank reduces notice period from 90 to 30 days:

HDFC Bank reduces notice period from 90 to 30 days HDFC Bank, the largest private bank in India, has reduces the notice period from departing employees. Before, employees were required to give a 90-day notice period before leaving the company, but now they need to give 30 days. A senior official of HDFC Bank told “Change in policy aims to provide more flexibility for employees while ensuring smooth transitions” On May 6, by email bank employees get the information change in HR policy, according to source. New employees on probation must work for 30 days before leaving. Sources say that if their manager agrees, they might even leave before the 30 days are up. After ICICI Bank, the HDFC Bank becomes second private bank to reduce its notice period. Other public sector banks including State Bank of India, Punjab National Bank, and Bank of Baroda, Kotak Mahindra Bank also has a 90-day notice period. IN FY24, the third quarter HDFC Bank becomes largest by bank market capitalization, the workforce of the company has over 208,006 passing the 200,000 milestone. The lender policy shift comes amid continued pressure of high attrition rate in private banks. At HDFC saw 34.15% in FY23, as against an industry average of 24.7% Official said “It's beneficial for both banks and employees. Bank will see better productivity because the employees on the notice period work half-heartedly”