Talent Management at ICICI Bank

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ICICI had a history of identifying and nurturing young talent right from the time SS Nadkarni (Nadkarni) was chairman of ICICI. Kamath himself was picked by Nadkarni soon after he joined ICICI in 1971 after completing his post graduation from the Indian Institute of Management, Ahmedabad. Commenting on Nadkarni's way of nurturing talent, Kamath, said, "He taught me initial skills; he had this ability to test you by giving increasingly complex assignments. If you had any intelligence you quickly made out that he was actually testing you to see if you are fit enough to go on to the next rung."...

One of the first things Kamath felt he had to do on returning to ICICI after an eight-year stint with the Asian Development Bank in 1995 was to create a talent pool in a bid to transform the government promoted project finance institution into a universal bank. During this time, the bank also faced the problem of young employees leaving the bank for better options. This prompted Kamath to devise the parking lot theory...

Soon after ICICI’s merger with ICICI Bank in 2000, Morparia and ICICI HR head K Ramkumar (Ramkumar) felt that the bank should make the transition to a formal system of leadership development rather than depending on Kamath’s personal genius. This, they felt, was required as the bank was scaling up from a 1,000 member organization to a strong team of 7000 employees. Moreover, they felt that the previous process of grooming leaders which had been heavily dependent on the board member’s contribution had started looking obsolete...

As a first step of the formal leadership development process, the bank institutionalized a talent screening process. With the number of employees rising and the bank expanding to various national and international markets, a talent screening had to be put in place, the bank felt. Since the selection of potential leaders was done by the bank, the process started with creating a list of talent which was empanelled as leadership talent. For instance, out of 15000 odd-mangers, the bank chose 2000 people as leadership talent...

The bank also used the leadership development process to groom successors at the bank. Moreover, succession planning was essential as all the topnotch people such as Lalita Gupte and Morparia were retiring in October 2006 and in 2007, respectively...

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