Our people are critical to our progress on our strategic objectives and attempts to serve our customers better. Raising an engaged and motivated workforce, which is raring to go and explore novel pathways to the future, is our key to creating a strong foundation for accelerated growth.
Our employees and the management share a symbiotic relationship. Our management ensures that employees remain engaged throughout the business cycle by communicating business decisions and strategies to its diverse functions and teams. Employee vintage is an indicator we prioritise. It symbolises stability, security and organisational dynamics.
We strive to strengthen our human capital and enhance their potential to achieve organisational goals while improving their individual skillsets. We believe in continuously upskilling our employees to be better at their roles and preparing them for future assignments by providing training in key competencies.
Average tenor of employees in the organisation
Number of training programmes conducted
Average training hours per employee
Share of women in workforce
CORE PHILOSOPHY
People First, one of our core values, ensures that we stay committed to enabling equal opportunity and inclusive growth. True to this ethos of grooming our people and bringing them crossfunctional exposures, we created 55 internal opportunities last year, wherein our in-house talents were entrusted with higher responsibilities.
Our people are given thorough orientation to facilitate understanding of the organisation’s culture and its products and services. Our tenured workforce, including employees who hold key leadership positions, has witnessed many changes and cycles in the organisation and thus understand what works and what does not.
RECRUITMENT STRATEGY
We revamped our hiring proposition in the last two quarters, which resulted in 90% of workforce capacitation by the end of the year under review. This was supported by initiatives like the relaunch of the employee referral programme, listing of open positions on the career page of our official website and on LinkedIn. We saw 41% increase in new offers during FY22, which was a challenging year. We have also started using social media tools to engage with prospective candidates.
PERFORMANCE MANAGEMENT
We extended performance-linked variable pays and market-competitive average increments in full. We also ensured grade promotions and long-term incentive rewards for eligible employees in a year of intrinsic cutbacks in these regards across the industry.
TRAINING AND DEVELOPMENT
Training and development remains a key focus area for us. During the year, more than 28,558 training hours were imparted to hone the skills of our people. Our comprehensive learning management system, eGURU, is used for training our people. It is a repository of PNB Housing Finance’s entire process manuals as well as compliance-related training modules. In our sector, staying updated with compliance-related issues are of paramount importance. We ensure our people are trained periodically on key compliance issues such as anti-money laundering, prevention of insider training, prevention of sexual harassment, cybersecurity as well as other topics.
EMPLOYEE RECOGNITION
Employee recognition strengthens the trust pillar by promoting a sense of pride and ownership across functions. Each function has specific, ongoing contests to recognise and appreciate employees for their exceptional contributions towards organisational performance.
LEVERAGING TECHNOLOGY IN PEOPLE MANAGEMENT
We have fully digitalised our HRMS system with all modules related to our HR processes being operationalised on the platform, including recruitment, performance management system and employee life cycle management.
We recently launched a fully digitised employee self-service payroll portal that will enable us to reduce manual dependency and provide easy accessibility of the technology-based platform, functioning in real-time for all employees in the organisation. On click availability of reports, real-time dashboards and employee self-service module, including our mobile app, is a great value addition that provides comfort and accessibility to our employees.
Our in-house learning management system, eGuru, provides a strong platform through web and mobile applications. Various eLearning modules are available for our employees on eGuru to help them enhance their knowledge on products, policies and processes. The eGuru mobile app enables employees to learn at the place and time of their convenience. The platform is also extensively used for conducting all compliance-based training through eLearning modules.
Xceed
A recently launched programme to recognise and reward PNB Housing Finance employees for their exemplary performance across various cross sell products. We invited 100+ top performing employees to be part of an exclusive award night in Mumbai in February 2022. We wish to associate all our future R&R programmes of cross sell products under the brand Xceed, an exclusive programme that will inspire our people to exceed their past milestones.
EMPLOYEE HEALTH AND SAFETY
Employee safety and well-being are critically important to us. Various measures were taken during the pandemic to protect employees from the onslaught and provide care for those who had contracted the virus. Multiple Company-sponsored vaccination drives were also conducted during the year. In order to provide further comfort to the employees, we enhanced the medical insurance coverage limit for all our employees.
PROMOTING DIVERSITY AND INCLUSION
We are actively promoting diversity and inclusion in the organisation and have initiated the following steps to ensure the same:
Equal employment opportunity policy
To achieve our business objectives, we are committed to a merit-based appointment process. We have policies and practices in place that enable capable employees to access all opportunities available with the organisation, in a fair and equitable manner.
Physical environment and security policy
It is important that employees are provided a secure and clean work environment because it bears direct impact on their productivity. We are committed to providing a healthy and safe workplace. We have crèche facility available at certain locations.
Leave policy
We believe that our people have changing needs during different stages in their life and career. We have best-in-class practices with respect to maternity, paternity and adoption related leave and compensation policies, besides extending the choice of examination leave and sabbaticals, among others.
Developing women leaders
We devised a 12-month programme for our women leaders to develop their insights, cross-cultural competence while imbuing into them key leadership competencies. This programme is holistic and follows an integrated approach to train and empower our women leaders in gaining the skills critical to succeed and lead organisations across all sectors of the global economy.
Inclusivity at the workplace
We endorse the creation of a workforce that makes people from all backgrounds, genders, religion and walks of life feel welcome and valued at PNB Housing Finance. We celebrate diverse festival days together, which our people see as an opportunity to interact with their colleagues from other departments.
