How is Bajaj Allianz leveraging people and technology for excellence
Company Name: Bajaj Allianz General Insurance Company
Total number of employees: 10,000 approx.
HQ: Pune, Maharashtra
For one of the largest and fastest growing private general insurance company in India, executing a multi-pronged employee engagement and management strategy was the key differentiator. Addressing the challenges associated with rapid growth and a strong impetus on improving customer experience, it was imperative for Bajaj Allianz General Insurance Company (BAGIC) to ensure that its employees were actively involved and engaged in the organization’s growth. Therefore, the company opted for ‘Workforce of One’ approach and redesigned strategies for all its Human Resource functions. For learning and development, it tied technology to offer tailored corporate learning and brought it to employees’ fingertips. One such example is ‘The Wolf of Park Street’, a first-of-its-kind gamified Insurance Sales simulation that enables the sales executives to experience the real job challenges and strengthens their technical and selling skills. Similarly, ‘MobiBuZZ, is an eLearning application that offers employees a huge repository of content while imparting performance improvement and professional development tips.
Bajaj Allianz General Insurance has aligned its Talent Management and Engagement programs with employee needs and career goals. Likewise, performance recognitions are expressed well to strengthen employee relations. It offers customized platforms like Young Leaders and Young Boards to the burgeoning talent. The trainings are imparted by the senior leaders and aim at polishing the young talent for cross-functional prospects as well as for future positions. Platforms like these have built a culture of employee effectiveness and engagement that not just augments the knowledge of employees and their skill proficiency, but also enhances their employability.
With a firm belief in a collaborative workplace environment, the company has rolled out a gamut of initiatives such as Smart Casuals Policy for the required comfort and ease at work, Flexi holidays-freedom of choosing holidays, Buddy – an AI-powered HR chatbot assistant for enhanced employee experience and empowerment.
Bajaj Allianz General Insurance looks at the various aspects of the employee life cycle and constantly reinvents and develops initiatives that are engaging. The use of innovation to enhance organizational excellence through gamification, robotic video interviews, and a consistent and open communication policy, have all resulted in healthy employee engagement scores. The organization has an open and nurturing culture that encourages employees to give feedback and suggestions and participate in decision-making. This supports and fosters the right kind of engagement in the organization while stimulating the employee happiness quotient.