One in four women in BFSI feel inconsistency in workplace equity: Report

The report reveals a comprehensive analysis of employee sentiment within the BFSI sector. Despite an overall sentiment of 86 per cent approval as a great workplace, there has been a one per cent dip compared to previous assessments, indicating evolving employee perceptions and expectations. A concern highlighted in the report is the opportunity gap for women employees in the BFSI sector, indicating gender disparity.

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The report also underscores notable disparities between Gen Z and millennial employees, particularly in their intent to stay long-term, sense of purpose at work, and perceptions of job security. Almost 21 per cent of Gen Z and 15 per cent of millennial employees are seeking meaningful work and a sense of impact within their roles, reflecting a shift in priorities and expectations.

Additionally, the report identifies specific verticals within the BFSI sector experiencing a decline in employee perception. Highest decline in perception is seen in Fintech, Health and General Insurance, and Investment verticals. Additionally, this decline is maximum (approx 10 per cent) among millennial and Gen-Z managers early in their tenure. These findings emphasize the importance of targeted strategies to address challenges unique to each vertical and demographic group.

Employee sentiment has dipped, with a decline in trust and a sense of disconnect, particularly among millennial and Gen-Z managers in critical areas like Fintech, Health and General Insurance, and Investments. Their aspirations for a more caring and supportive environment can not be ignored.

The report also emphasises the critical role of a caring work environment in fostering employee satisfaction and organizational success. Organizations that prioritize employee well-being demonstrate higher intent to stay and overall positive sentiment. However, Millennials and Gen Z employees in the BFSI industry report a higher need for sincere interest from management, psychologically and emotionally healthy workplaces, work-life balance, and flexibility in taking time off when necessary.

Some of India’s best workplaces in alphabetic order are Bajaj Finance Limited, HDFC ERGO General Insurance Company Limited, Kotak Mahindra Bank, Max Life Insurance Company Limited, Reliance Nippon Life Insurance Company Limited.