From prioritising mental health support to adapting to remote work dynamics, Reena Tyagi, CHRO, Future Generali India Life Insurance, sheds light on how her organisation is redefining employee engagement in an industry renowned for its dynamism and fast-paced environment. Reena, who has been in the human resource field for over 27 years, including 17 years in a leadership role, managing large and diverse teams, emphasises on cultivating a positive culture of well-being at the workplace.

In an industry known for its fast-paced and high-pressure environment, how do you prioritise employee well-being and mental health while maintaining productivity and performance standards?

Prioritising employee well-being and mental health is paramount for us. Recognising the significance of maintaining a healthy work environment while meeting productivity and performance standards, our approach is centred around implementing comprehensive wellness programs that specifically cover our valuable team members' physical, mental, and emotional well-being. Through our comprehensive health and wellness program, FG Wellness, we facilitate on-call counselling services, Doctor on call and other employee assistance programs, and activities promoting a healthy work-life balance to cultivate a positive culture of well-being. Additionally, our wellness partner is offering expert advice from over 1000 professionals. This partnership underscores our commitment to 360-degree well-being, providing our employees with accessible resources to address both physical and mental health concerns. By creating a workplace that prioritises the health and happiness of our employees, we aim to provide the necessary support for optimal well-being and a fulfilling work experience. Moreover, we endeavor to create an enabling culture and a happy workplace that promotes the overall wellbeing of our teams. We recently had a Stepathon challenge that got a very enthusiastic response from our teams! 

Given the remote and hybrid work trends accelerated by recent global events, what adjustments or innovations has your company made to sustain or even improve employee productivity and engagement in a distributed workforce environment?

We have introduced several initiatives to sustain and improve employee productivity. We have clear and comprehensive remote work policies and guidelines to provide our employees with clarity on performance expectations, communication protocols, and remote work best practices. This ensured that our employees could manage remote work with confidence and a clear understanding of the company’s approach to virtual collaboration and productivity. Also, recognising the impact of remote work on well-being, we prioritised mental health support and wellness resources for our remote and hybrid workforce. This includes virtual wellness sessions, and mental health resources contributing to sustained productivity and engagement.

In the context of a rapidly evolving industry landscape, how do you adapt your employee engagement strategies to attract and retain millennial and Gen Z talent, who may have different expectations and preferences compared to previous generations?

Adapting employee engagement strategies to attract and retain millennials and Gen Z talent in the rapidly evolving industry requires a nuanced approach that accommodates their unique expectations and preferences. These generations seek continuous learning and growth opportunities. Our employee engagement strategies incorporate ongoing learning & development, skill-building programs, and ongoing feedback to support their professional growth and development. Younger talent values diverse and inclusive workplace culture. We have strengthened our DEI initiatives, ensuring equitable opportunities, diverse representation, and inclusive practices that resonate with the values and expectations of millennials and Gen Z. They value career mobility and diverse experiences. We encompass cross-functional opportunities, lateral movement options, and project-based assignments to accommodate their desire for varied and impactful roles. These strategic adaptations reflect our commitment to proactively meeting the needs and expectations of millennials and Gen Z Talent.

What are some of the biggest challenges or obstacles you've encountered in promoting employee engagement within your organisation, and how have you worked to overcome them? Also, you can highlight some of the internal initiatives that you are taking for employee engagement.

Employee engagement is very crucial for the organisation’s health. The biggest challenge is addressing employee engagement during times of change and uncertainty that requires a proactive change in management approach. We provided regular updates, and regular townhalls by ensuring consistent leadership engagement and involvement to drive engagement, thereby minimizing anxiety, and maintaining engagement during transitional periods.

Internal initiatives, particularly the FG WeCare Policies for Employees, play a pivotal role in bolstering employee well-being. This comprehensive support system extends to specialised care for children with special needs, addressing the diverse needs of our workforce.

The commitment to supporting employees' children is exemplified through the Sports Scholarship for Children of Employees, emphasising our dedication to promoting sports at various levels.

She Leads, a Group Women Mentoring Initiative, serves as a platform for all FG women to share insights and draw inspiration from leaders, fostering a culture of learning and development.

Our dedication to employee engagement, diversity, and inclusion is evident in initiatives like Disability Week, festive celebrations, leadership connect programs, ensuring transparent communication. These efforts reflect our holistic approach, aiming to enhance the overall well-being and elevate engagement levels among our valued team members.

Looking ahead, what future trends or developments do you anticipate shaping employee engagement strategies within the financial industry, and how is your company preparing to adapt to these changes?

As we look ahead, several key developments are expected to shape the future of employee engagement within the financial industry, paving the way for a more holistic, flexible, and purpose-driven approach to engaging the workforce. A fundamental shift from physical health to mental and emotional wellness is poised to take center stage in encouraging a healthy and engaged workforce. Also, offering tailored growth paths, continuous skill enhancements, and individual development plans for continuous learning will be key in the future. Organisations will increasingly emphasise purpose driven initiatives that align with values and societal impact, instilling a sense of fulfilment and motivation. At Future Generali India Life Insurance, we recognise the importance of catering to various forms of engagement—cognitive, physical, and emotional. At the core of our engagement framework, there is a strong alignment with diversity, equity, and inclusion values.

In addition to these trends, we are preparing to adapt by bolstering skill-building initiatives and career growth opportunities. Recognising the significance of recognition and rewards, we have tailored our engagement strategies to include meaningful rewards lined with our values & LTP behaviours.

As we embrace the shifting landscape of employee engagement, these initiatives underscore our dedication to adjusting, innovating, and refining our strategies to align with the evolving needs of our workforce. We are positioned to cultivate a workplace environment where our employees can flourish and make impactful contributions to our shared achievements.