[CAJobPortal Insights] ~15,000 resignations at Axis Bank and what we can learn from the same

Good Afternoon,
By now, I hope all of you have returned to your work desks and we won’t get the December like deluge of vacation auto-replies
So first of all, wish you a Joyous 2020. Hope you move to new milestones in your career. We, at CAJobPortal.com, also have ambitious plans this year. Apart from the traditional “placement agency” model for finance hiring ( very well received by corporates over the last 5 years), we will also experiment with more tech driven approaches to Skilling, Assessment and Recruitment
This week, one of the major news headlines was ~15,000 employees at Axis Bank resigning amidst operational restructuring as the bank gears to move to a low risk, high growth strategy under the new CEO Mr. Amitabh Chaudhry The news articles seems to suggest that the veterans had issues adjusting with the cultural shift, with the influx of automation and Artificial Intelligence, large scale changes in processes. There were 50 mid level lay-offs last year, and now these resignations
There could be more to it than what meets the eye. We spoke to employees there and the biggest pain point, it appears, was both the extent and pace of change in workflows. For want of enough data points, we aren’t in a situation where we can comment on the right/wrong
But one thing that gets underscored clearly is the fact that we no longer live in an era where you could take retirement in a current organisation for granted. We have to run our careers differently now. You have to keep an ear to the ground. You can never assume that just because you are working now, your job is secure. It’s not!
Job Security is probably a thing of the past. It is no longer unusual to be told “We’re eliminating your department” or “We’re getting rid of your position.”
Staying busy in this new-millennium workplace requires new muscles, be it aspects like learning skills to remain contemporary, networking for promotions/new jobs, creating thought leadership and personal branding
What do you think?