Vinay Razdan, the group head of human resources and chief human resources officer at HDFC Bank, is resigning after almost seven years with the company. His departure, while not unexpected given his proximity to retirement, has nonetheless surprised some. The bank is currently searching for his replacement, considering both internal and external candidates.
HDFC Bank's employee count shows a relatively slow churn, increasing from 208,066 in December 2023 to 210,219 by December's end. The bank is focusing on improving productivity and stabilizing attrition rates, aiming to reduce hiring while maintaining efficiency. Attrition rates for HDFC Bank have improved, from 34.15% in FY23 to 26.9% in FY24.
Before joining HDFC Bank in 2018, Razdan held key HR positions at Idea Cellular (where he played a significant role in the merger with Vodafone), HCL Technologies, and ITC Ltd.
HDFC Bank declined to comment on the speculation surrounding Razdan's departure.