MUMBAI, India, April 14, 2022 /PRNewswire/ — NeoGrowth has been recognized by Great Place to Work® India among – India’s Best WorkplacesTM in BFSI 2022! This recognition is a testament to NeoGrowth’s better, more inclusive work environment that fosters a High-Trust, High-Performance Culture™.
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NeoGrowth’s employee-centric culture and its constant emphasis on employee skill development and engagement keep the workforce driven and motivated at work. A structured engagement and development framework is followed with initiatives arranged under seven pillars: Neo Connect, Neo Recognize, Neo Learn, Neo Benefit, Neo Celebrate, Neo Care, and Neo GiveBack.
Over 100 employee engagement and development initiatives are conducted at varied frequencies during a year, such as 4-3-2 New Hire Connect, HR Mitra, NeoBuddy, Prarambh, Gurukul, CEO and Leadership Connect, Samvaad- HR Connect, Think and Act like CEO for a Day, Ideathon, Walkathon, Fit and Fab to name a few. The company has launched a special flagship program called the NeoGrowth Second Career Program to hire and upskill women that are rejoining the workforce. Similarly, to develop a leadership pipeline in-house, ‘Catapult’ is the recently launched Flagship program. Reward and Recognition initiatives like Culture Badge, Spot Award, etc. enable spontaneous appreciation to help nurture a performance-driven culture. ‘Learn with Fun’ initiatives like Leadership Lessons from Movies and Learning Path help develop leadership and soft skills. Unique interventions like World of Women, a weekly circulated communique for the women employees, and ‘Abhiruchi’ Groups enable informal liaison amongst employees in areas of their common interest like sports, reading, etc., to help keep employees constantly engaged and updated on the industry developments.
Speaking on this accreditation, Arun Nayyar, Whole Time Director & Chief Executive Officer, NeoGrowth said, “Since the pandemic, we have taken great strides in fostering innovation, employee engagement, upskilling, and reskilling our employees to imbibe in them the skills of the future. At NeoGrowth, we believe in constant learning and a structured reward and recognition mechanism to help align employees to the organization’s purpose. The workplace of 2022 and beyond will be required to focus more on ‘skill’ and less on ‘role’. It is therefore important that Management, Supervisors, HR, and L&D units of organizations work in sync to help employees develop holistically and create value.”
As a global authority on workplace culture, Great Place to Work® has been studying employee experience and people practices across organizations for over three decades. Every year, more than 10,000 organizations from over 60 countries partner with Great Place to Work® Institute for assessment, benchmarking, and planning of actions to strengthen their workplace culture.
In its 5th edition this year for India, based on a rigorous evaluation methodology, top 30 organizations among India’s Best WorkplacesTM in BFSI 2022 have been recognized. These organizations among other practices particularly excel both on people practices that they have crafted for their employees and proactively act on the feedback to create a High Trust Culture.
The report and the complete list (in alphabetical order) of India’s Best WorkplacesTM in BFSI 2022 can be viewed here.
“When the COVID-19 pandemic struck in early 2020, the global banking industry had already been undergoing massive change. Consumer needs were evolving rapidly, as people came to expect more from their online banking services. And as banks digitized their front ends in response, they also established next-generation technologies in the middle and back offices to drive cost efficiency and provide better services. All those changes had already lifted people issues to the top of banks’ agendas.
Financial leaders today face a pivotal moment as the outbreak of Covid-19 has brought even more and several significant changes in the way business operations are carried out across the globe. Most responded to the COVID-19 pandemic without the luxury of time to consider implications on longer-term sustainability. Leaders now face operational and organizational decisions with profound implications for millions of Indians who are employed in the finance and insurance sectors prior to the outbreak—and for society at large.
The focus to date has been to provide essential services with sufficient attention to quality, customer experience, and risk control, all while caring for employees. These objectives are already interacting in non-obvious ways. The potential for significant additional change remains, happening rapidly and in unpredictable ways depending on factors like disease trajectory, government and regulatory moves, and the economy.
We expect four types of actions will help financial institutions best respond to the workforce challenges ahead. Companies should commit to their principles on employee well-being, introduce ways of working that will endure beyond the crisis, re-imagine performance management and incentives, and maintain cultural hallmarks threatened by the pandemic.
The choices they make today will define the industry’s approach for years to come, with a generational impact on how it cares for its workforce.” -Yeshasvini Ramaswamy, CEO, Great Place to Work®, India.
In India, the Institute partners with more than 1400 organizations annually, across over 22 industries, to help them build High-Trust, High-Performance Cultures™ designed to deliver sustained business results. Hundreds of leading CxOs from India Inc. are part of the great place community that is committed to the vision of making India a Great Place to Work FOR ALLTM.
NeoGrowth Credit Pvt. Ltd is an SME- focused lending fintech, leveraging the digital payments ecosystem. It is a systemically Important, Non-Deposit taking NBFC driving innovation with proprietary technology. NeoGrowth’s data science and technology-led approach enables it to offer quick and hassle-free loans to MSMEs across 70+ segments. NeoGrowth offers a unique daily repayment option to its customers with multi-channel repayment modes. The company not only helps its customers grow but also drives financial inclusion making a positive social impact. NeoGrowth is backed by renowned investors, namely Omidyar Network, Lightrock, Khosla Impact, Accion Frontier Inclusion Fund – Quona Capital, IIFL Seed Ventures Fund, WestBridge, and Leapfrog Investments.