SBI - Life Integrated Annual Report 2020/21

PEOPLE

Driving high
performance and inclusivity

We aspire to be the employer of choice. At SBI Life, we are committed to provide our employees with a safe and healthy workplace, nurture them by upskilling and providing opportunities for career progression. We take pride in the diversity of our workforce and strive to imbibe a sense of belonging through various engagement activities.

Material issues

Regular trainings and career development activities for our people.

Workforce Numbers

36 years

Average age

5 years

Average tenure

Embracing diversity

17,464

Total employees

2,811

Female employees

14,653

Male employees

16.10%

Female employees

Training and development

We organise training and upskilling sessions for our employees to bring them up to date with latest technological and operational changes as well to groom them to become future leaders. Our in-house HR team is responsible for organising these training sessions. We also partner with various consultant trainers, reputed training service providers, leading B-Schools and institutions for conducting these training sessions.

We also conduct customised personal development sessions through the Individual Development Plan (IDP) to enhance strategic thinking, capability building, and execution excellence skills of our employees. We also provide cross-functional training to deepen business understanding.

Rewarding outperformers

We have a well-defined rewards and recognition policy to identify deserving candidates. Our performance management system, LEAP (Leading through Excellence And Performance) is based on a clear framework of setting expectations, providing feedback and carrying out an effective assessment to link rewards directly with the Company performance.

We introduced Employees Stock Options (ESOPs) for rewarding high performing employees in FY19 and improve the retention rate. During the year, Board Nomination and Remuneration Committee (NRC) in its meeting held on July 21, 2020 approved the grant of 924,690 Employee Stock Options (‘Options’) to 263 eligible employees under the provisions of ESOS 2018.

Sexual Harassment Cases

The Company has an internal complaints committee to investigate and inquire into sexual harassment complaints in line with The Sexual Harassment of Women at Workplace act, 2013.

Cases at the beginning of the year 2

Cases filed during the year 2

Cases disposed during the year 3

Cases pending at the end of the year 1

During FY21 under review, 2 sexual harassment cases were filed excluding 2 cases pending from previous year. Of these, 3 were disposed-off during the year and appropriate actions were taken within timelines for 1 case in FY22. Having an adept POSH policy has enabled us in employer branding by creating employee value proposition, permeating a sense of safety amongst employees, retaining vital talent and promoting inclusively.