MUMBAI: Even as companies step up efforts to promote diversity in the banking, financial services and insurance (BFSI) sector, reports on Friday revealed that one in four women employees lacks recognition, fair pay and is inconsistent with the case of. Workplace equality.
According to workplace assessment and recognition organization Great Place at Work India, gender disparities persist despite the overall positive sentiment in the BFSI sector, underscoring the need for focused efforts to promote diversity and inclusion.
Female employees are 5 per cent less satisfied with workplace equality than their male colleagues, said the 'Insights from India's Best Workplaces in BFSI 2024 report', which presented insights collected from a survey among 12 lakh employees across 167 organisations. Has been.
The report also revealed that there were notable disparities between Gen Z and Millennial employees, particularly in their intentions to stay longer, sense of purpose at work, and perception of job security.
Generation Z are those born between 1997 and 2012, while Millennials are those born between 1981 and 1996.Nearly 21 percent of Gen Z and 15 percent of Millennial employees want a sense of meaningful work and impact within their roles, reflecting a shift in priorities and expectations.
Meanwhile, the report found that employee sentiment declined in the fintech, health and general insurance and investment sectors.
This decline in employee sentiment is highest among Millennial and Gen-Z managers at the beginning of their tenure (10 percent), the report said.
The report said these findings emphasize the importance of targeted strategies to address the challenges unique to each vertical and demographic group.
“The BFSI sector is witnessing strong hiring by both established players and innovative fintech companies.Banks are strengthening, fintechs are expanding, and investments and insurance are on the rise.
Yashaswin Ramaswamy, serial entrepreneur and CEO, Great Place to Work, India, said, “Despite offering unique benefits and healthy profit-sharing practices, trends of inequality emerge within BFSI workplaces, which cannot be ignored."
According to workplace assessment and recognition organization Great Place at Work India, gender disparities persist despite the overall positive sentiment in the BFSI sector, underscoring the need for focused efforts to promote diversity and inclusion.
Female employees are 5 per cent less satisfied with workplace equality than their male colleagues, said the 'Insights from India's Best Workplaces in BFSI 2024 report', which presented insights collected from a survey among 12 lakh employees across 167 organisations. Has been.
The report also revealed that there were notable disparities between Gen Z and Millennial employees, particularly in their intentions to stay longer, sense of purpose at work, and perception of job security.
Generation Z are those born between 1997 and 2012, while Millennials are those born between 1981 and 1996.Nearly 21 percent of Gen Z and 15 percent of Millennial employees want a sense of meaningful work and impact within their roles, reflecting a shift in priorities and expectations.
Meanwhile, the report found that employee sentiment declined in the fintech, health and general insurance and investment sectors.
This decline in employee sentiment is highest among Millennial and Gen-Z managers at the beginning of their tenure (10 percent), the report said.
The report said these findings emphasize the importance of targeted strategies to address the challenges unique to each vertical and demographic group.
“The BFSI sector is witnessing strong hiring by both established players and innovative fintech companies.Banks are strengthening, fintechs are expanding, and investments and insurance are on the rise.
Yashaswin Ramaswamy, serial entrepreneur and CEO, Great Place to Work, India, said, “Despite offering unique benefits and healthy profit-sharing practices, trends of inequality emerge within BFSI workplaces, which cannot be ignored."