The report by workplace assessment and accreditation organization Great Place to Work India is based on information received from feedback from more than 1 lakh employees from 167 organizations in the BFSI sector in the country.
This showed an opportunity gap for female employees in the BFSI sector, indicating gender inequality. Female employees were found to be 5 percent less satisfied with workplace equality than their male colleagues.
Gen Z (21 percent) and Millennial employees (15 percent) showed a shift in priorities and expectations, with a desire to seek meaningful work and a sense of influence within their roles.
Furthermore, the report also identified a decline in employee sentiment within the BFSI sector.The biggest decline was seen in fintech, health and genera insurance and investment verticals.
The decline was found to be maximum (about 10 percent) among Millennial and Gen-Z managers at the beginning of their tenure. These findings emphasize the importance of targeted strategies to address challenges unique to each workplace and demographic group.
“Despite offering unique benefits and healthy profit-sharing practices, a concerning trend is emerging within BFSI workplaces. Employee sentiment has diminished with a decline in trust and a sense of isolation, especially in key sectors like fintech, healthcare and General insurance and investing among millennial and Gen-Z managers across sectors.Their aspirations for a more caring and supportive environment cannot be ignored,” said Yashaswini Ramaswamy, serial entrepreneur and CEO, Grea Place to Work, India.
He said, “Although the BFSI industry offers competitive advantages, it needs to do more to foster a culture of service excellence, celebrate the achievements of its employees more openly and ensure inclusivity in all its policies ."
This showed an opportunity gap for female employees in the BFSI sector, indicating gender inequality. Female employees were found to be 5 percent less satisfied with workplace equality than their male colleagues.
Gen Z (21 percent) and Millennial employees (15 percent) showed a shift in priorities and expectations, with a desire to seek meaningful work and a sense of influence within their roles.
Furthermore, the report also identified a decline in employee sentiment within the BFSI sector.The biggest decline was seen in fintech, health and genera insurance and investment verticals.
The decline was found to be maximum (about 10 percent) among Millennial and Gen-Z managers at the beginning of their tenure. These findings emphasize the importance of targeted strategies to address challenges unique to each workplace and demographic group.
“Despite offering unique benefits and healthy profit-sharing practices, a concerning trend is emerging within BFSI workplaces. Employee sentiment has diminished with a decline in trust and a sense of isolation, especially in key sectors like fintech, healthcare and General insurance and investing among millennial and Gen-Z managers across sectors.Their aspirations for a more caring and supportive environment cannot be ignored,” said Yashaswini Ramaswamy, serial entrepreneur and CEO, Grea Place to Work, India.
He said, “Although the BFSI industry offers competitive advantages, it needs to do more to foster a culture of service excellence, celebrate the achievements of its employees more openly and ensure inclusivity in all its policies ."
