India’s largest private bank, HDFC Bank, has recently announced a significant decision regarding its employees’ notice period.
What the Bank Said
In a viral screenshot of an email sent by HDFC Bank’s HR department, it’s stated that the notice period for confirmed employees resigning from the company has been reduced from 90 days to 30 days, effective immediately.
However, the notice period for employees on probation remains unchanged at 30 days. All other terms and conditions of employment remain consistent with the existing agreement.
ICICI Bank’s Precedent
HDFC Bank is not the first to implement such a change. ICICI Bank had already reduced its notice period for employees back in 2020.
Varied Reactions on Social Media
The reduction in notice period has sparked diverse reactions on social media platforms.
Some individuals view this change positively, suggesting it offers greater flexibility to both employees and the bank.
Employees can transition out of the company sooner, while the bank may benefit from improved productivity, as extended notice periods sometimes lead to decreased motivation among departing employees.
However, others interpret this reduction as a potential indication of economic challenges, particularly in light of recession concerns.
They speculate that employees may find it easier to leave the company amidst preparations for economic downturns.
