NEW DELHI: After the reforms at state-run banks, the government is set to overhaul the appointments of public sector chiefs and functional directors and is looking to expand the talent pool as part of fresh set of measures.
The Public Enterprises Selection Board (PESB) has proposed to hold interviews for all jobs of chairman and managing directors of a group of PSUs or directors for human resources and finance at the start of the year, instead of looking for candidates for individual companies.
Based on the interviews, the headhunter will make its recommendations to the government. On its part, the government will appoint the candidates based on their performances in the interview and those scoring highest will get the company of their choice.
Typically, PSUs are divided into schedule A and schedule B companies, with top companies such as IndianOil, NTPC, ONGC and SAIL being part of the former group. From now on, all the posts will be advertised together and candidates for these companies will be recommended in one go.
With the interviews clubbed together, PESB has proposed to interview at least 16 candidates for a job, instead of 12 at present, and this number could rise to five times the number of jobs on offer. So, if five jobs of director-finance in oil companies are falling vacant in a year, up to 25 candidates can be interviewed. In addition, the eligibility norms for candidates from state PSUs and the private sector have also been eased.
It also suggested that advertisements are issued for vacancies falling during July 1 to June 30, one year prior to date of vacancies.
The reforms follow an analysis of PESB selection process where the board could not find suitable candidates for nearly a fourth or 52 of the 218 interviews conducted between April 2017 and August 2018. Of the 1,162 candidates appeared for these interviews, 65% were internal.
PESB chairman Rajiv Kumar, who will take over as election commissioner next week, was also responsible for the appointment reforms in the government in his capacity as the establishment officer as well as in public sector banks and insurance companies.
As part of the revamp, the age limit for candidates, both internal and outside, is proposed to be fixed at 55 for companies with a retirement age of 58 years and 57 where the board member retires at 60. Those applying for the top jobs will need to have a minimum one-year experience in the eligible grade. As part of the revamp, a candidate can appear for four interviews in a year.