Present Status of Voluntary Retirees from Public Sector Banks in Tamilnadu

Abstract

In India, downsizing is being achieved mainly through Voluntary Retirement Scheme (VRS) and regulated recruitment. Whatever be the means to downsize the workforce, this trend is here to stay for some more years. Companies of all sizes i.e. big, medium and small are joining the  VRS bandwagon. Many companies which have already shed manpower by means of VRS are, in many cases, planning for more rounds of golden handshake. Public sector banks are not only exception to implementation  of VRS. After voluntary retirement, the retirees were engaged in some activities like agriculture, business, social service and they may be placed in private organisations. Some factors like place of work, gender, educational qualification, family size, annual income, bank which they worked and experience may influence them to enter into a particular occupation. This paper discusses level of satisfaction and current occupation of voluntary retirees.