Article: Top 25 Best Workplaces in Asia: Bajaj Finance

#AsiasBestWorkplaces2015

Top 25 Best Workplaces in Asia: Bajaj Finance

Bajaj Finance values its former employees as much as it does current employees
Top 25 Best Workplaces in Asia: Bajaj Finance
 

Rank: 23

 

Headquarters: Pune, Managing Director: Rajeev Jain, No. of employees: Not known

 

Bajaj Finance, one of the country’s largest diversified non-banking financial institution in the country, has over 20 products across 12 product lines. With 150 branches in over 7,000 retail outlets, Bajaj is ranked among the top three financial services companies in the country in the Great Place To Work list.

The company values its former employees as much as its current employees. Hence, the company puts in a lot of effort into sharing ongoing information with ex-employees to help them be abreast of what’s happening at the company. The information is shared through emails and SMS campaigns. Many ex-employees join the company as is evidenced through their program where the company hopes to hire 15 per cent of employees through this pool of exited employees.

Keeping in mind the need to develop managerial capabilities at the middle and top level, Bajaj Finance instituted the Phase 2 of the Managerial Development Program called the “Survivor”, a 6-month program from June 2014 to December 2014. Earlier, they had conducted a managerial boot camp where they discovered fundamental capabilities required to enhance leadership skills for the same employee constituency. This program is not only the first of its kind in Bajaj Finance but also in the NBFC industry. The program’s aim was to create learning experiences across three competency clusters viz. Strategy, People and Execution.

The program begins with a day-long classroom based session where participants are assessed on their strengths and blind spots as a leader through a behavioural assessment profiler called DISC. This will help them understand their leadership style and improve their personal effectiveness. Once the orientation session is over, participants are given 15 case studies. They have to choose one case study to take back to their workplace and apply it in their current role and create a workplace transformation.

After that, participants have been to attend an outbound experiential learning program, which requires them to engage in a series of physical and mental activities that would earn them further points in the championship series.

After the SURVIVOR Camp, participants carry their learning experiences to further strengthen their case work. The design elements of the program entail participants presenting individual “Workplace Transformation Cases” to their managers. Based on their case work and their performance at the survivor camp, four top teams will be selected for the grand finale in February 2015. These teams will compete for the championship trophy and cash prizes.

Another major event is the Excelsior League. A family-based event, the company honors the 5 per cent of the high performers at an exotic location. It is a two-day three-night event planned with the family of the winners sponsored by the organization. The awards are handed over by the CEO and Business Head to the employee and their family members. The League is the most sought-after reward for the employees at BFL and the league sets a benchmark for others to strive to achieve the same. Every year almost 25 per cent of the overall Rewards & Recognition budget is mapped for this program. The program further aims at making their experience last even post the event. The workstation/area of the “excelsiors” is designed to replicate the Excelsior brand and color theme. Their name plates have a golden lining. The entire décor distinguishes them and everyone around can spot the excelsior.

Topics: #AsiasBestWorkplaces2015, #BestPractices, Life @ Work

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