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India’s Best Workplaces In BFSI 2020

Great Place to Work® identifies 25 best workplaces in BFSI on the basis of employee feedback and people practices

Photo Credit : Reuters

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This year, Great Place to Work® assessed 83 BFSI sector organisations and identified 25 workplaces that have put in place best people practices. The research represents the voice of more than 3 lakh employees and reveals insights into building an organization that stands the test of time.

The current pandemic has thrown the global economy off gear and the impact is estimated to be worst since the great depression. India’s growth story has a robust and inclusive financial system at its core but that too is faced with a spate of financial irregularities and NPAs observed across large as well as mid-sized institutions. With the ongoing economic and social slump, business continuity and growth projections have hit a wall.

The Great Place to Work® Research reveals the way out -- a leadership, that is credible, inspiring and developing.

The research shows that the credibility of the leader impacts employee perception positively to be active contributors in an organisation’s success. A credible leader ensures alignment of vision and values which, in turn, ensures business continuity and growth. Further, the leader’s focus on people development readies the organisation to respond to upcoming opportunities and challenges. Both these aspects lead to a higher degree of motivation, discretionary effort, retention and brand advocacy among the employees.

Employees look up to a leader who can inspire faith and positivity, who is competent to take on challenges and who can show the way to tackle uncertainty. To respond to the impact of happenings in the recent past, the present situation and the unpredictable future, organisations need to re-instil trust and security among the employees – psychological, financial and social.

The global economy will take time to recover from the current crisis. Organisations must utilise this time to build their arsenal so when the time is right, the fruits can be borne. Leadership must continue to inspire and enable skill-building among the employees and employees, in turn, must be made a part of the bounce-back strategy. Top management across many organisations have found innovative ways to sustain business continuity such as not only educating the employees but also educating the customers. The focus of people development has gone beyond their employees to customers as well.

Along with the management, the employees too are expected to respond positively to such initiatives of the management and reskill/upskill themselves to stay relevant to the dynamic needs of the industry. The ups and downs of a sector are a part of any business and do not only depend on the management. Hence, employees must play their part in building a sustainable, ethical organization. The accountability for creating a high-trust, high- performance organisation rests on the shoulders of both, the management as well as the employees.

Great Place to Work® Institute, the global authority in building and sustaining a High-Trust, High-Performance Culture®, assesses more than 10,000 organisations across more than 60 countries every year. And through a rigorous and objective framework, identifies the best workplaces across the industry, government agencies and academia.

The Great Place to Work® Research is the largest and the most credible workplace culture study in the country – more than 1,000 organisations are assessed every year to identify the best workplaces, solely on the basis of their employee feedback and quality of people practices – no jury or individual can influence the research.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Bhavishya Sharma

The author is Head, Customer Acquisition, Great Place to Work® India

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