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Human Capital
We provide a safe, dynamic, vibrant, and trustworthy environment for our ~24,000-strong SBI Life family. Our commitment to caring for customers extends to our employees too, and is reflected in the manner in which we prioritise their well-being and happiness. Our work environment fosters creativity, innovation and collaboration.
Our “People” strategy is closely aligned with our organisation’s purpose and strategic business goals, which reflects in our policies, processes and initiatives, leading to significant business growth over the years. During last five years, our Average Employee Productivity, in terms of Individual Rated New Business Premium, has increased by 40%.
We foster a caring, equitable and growth-oriented work environment, empowering each employee to perform at their best. Our employees are well supported during their life-cycle events through our progressive policies, namely sabbatical leave, child adoption leave, flexible working hours and work from home facility. These initiatives enable them to balance their career and personal life effectively.
To attract young talent, we have introduced the Graduate Sales Trainee programme to onboard fresh graduates into our Sales Team. We have also introduced Business Associate model in our Retail Agency Channel to enhance our sales distribution capabilities.
No. of Employees Hired in FY 2024
Share of Women Employees in Workforce (5,026 women employees in total workforce of 23,893)
At SBI Life, we are making progressive strides towards building a future-ready workforce and fostering a culture of continuous learning and development for our employees.
We significantly enhanced the training budget during the year under review,as a key step towards effectively upskilling and reskilling our employees.
Our rewards philosophy is based on the principle of meritocracy, and we promote a culture of high-performance by following fair and competitive reward policies and practices. Our performance management policies and processes are designed to encourage our employees to aim for the highest benchmarks.
We embrace diversity and inclusion by building a nurturing environment where each employee feels cherished, and receives equal opportunities for growth and advancement without any prejudice.
With the help of caring and supportive policies such as sabbatical leave, paternity leave, and flexible work arrangements, we empower our employees to achieve a healthy work-life balance, leading to increased productivity, higher engagement and a happier work environment.
Increase in Women Employees
27.01% YoY increaseOur core values serve as a guiding light to our identity, actions, behaviours and decision-making, reflected in our policies, processes, and practices.
We place immense focus on employee engagement as it empowers our people to stay connected to their jobs, while delivering exceptional service and financial security to the customers. We celebrate festivals and various milestones of the organisation to foster a strong sense of community and belonging amongst our employees.
These celebrations provide them with an opportunity to come together outside of daily work, share traditions and build lasting bonds. We also organise off-site meets, family dinners and our Annual Day event ‘Sangam’ which gives our employees and their families an opportunity to showcase their talents, creating truly special and memorable experiences.
We organise regular townhall meetings at different locations to enable our employees connect directly with our leadership team and share their thoughts and concerns.
During the year, we organised numerous engagement initiatives such as Yoga sessions on International Yoga Day, health awareness sessions, summer camp workshops for employees’ kids, and celebrated festivals like Navratri and Holi.
At SBI Life, our holistic approach to employee well-being aims to foster a more engaged, motivated, and committed workforce, ultimately contributing to the organisation's long-term success.
We understand the importance of Diversity, Equity and Inclusion in the workplace and have implemented several initiatives focussed on attracting and hiring candidates with diverse background.
In our pursuit of promoting gender diversity at the workplace, we have a dedicated recruitment programme “Project Shakti”, which is focussed on capitalising the potential of our female workforce as a part of our front-line sales group. The programme was instrumental in improving our gender diversity during the year.
To expand our source of recruitment and improve the influx of young talent within the Company, we introduced the Graduate Sales Trainee programme. This was aimed at recruiting fresh graduates in marketing channels, and also ensuring minimum 30% female recruitment as part of the Graduate Sales Trainees.
Average Age
Average Tenure
SBI Life’s recruitment strategy is focussed on attracting a diverse population of talent which is aligned to our values. We do this by promoting our Company’s culture, brand values and opportunities on our website, social media and other notable platforms.
Our partnership with top universities and colleges helps attract the best and brightest students by hosting on-campus recruitment drives, offering internship opportunities to students and sponsoring business case study events to widen our talent pool and build our brand as an employer.
Through a robust multi-level selection process, we identify people whose values and ambition are aligned to our organisation’s values and goals.
The Induction Training programme consists of the right blend of classroom learning and online modules developed and improvised consistently to deliver a thorough understanding of the Company’s past, present and future aspirations.
Through an Internal Job Posting mechanism, all open positions are published and made available first to our internal candidates. This helps us in meeting their aspirations, while making the best use of the knowledge they have gained about the Company’s processes and products.
New Hires in FY 2024
Our initiatives in employee health and well-being are well aligned with our brand proposition “Apne Liye, Apno Ke Liye”, wherein we enable our employees to fulfil their own needs, while securing the needs of their loved ones.
As part of our Group Mediclaim policy, we have extended flexibility to our employees to cover their dependents, including parents / parent-in-laws, with various top-up options of higher sum assured.
In addition, a free Annual Health Check-up facility is extended to the employees and their family members at discounted rates. Our Group Term Life Insurance cover is the best-in-class, and has been enhanced for all the employees across grades.
My experience in SBI Life has been very enriching and fun-filled, a journey of many learning and celebrations. Being a part of IT Team has taught me various skills both in technical and management domain. One thing that I hold near to my heart is that we are given a lot of ownership on our projects and tasks, giving us an opportunity to make a lot of impact through our work. All people in the organisation are very helpful and welcoming, making the entire work environment holistic and motivating to perform our best. We always look forward to all the events organised during festivals, celebrations and special events as they are filled with joy and laughter every time.
"Working with SBI Life Insurance has been incredibly rewarding. The emphasis on efficiency and innovation ensures that we continually improve our processes, delivering top-notch service to our clients. Our team's collaborative spirit and the Company's commitment to excellence make it an exciting place to work."
"The training programmes at SBI Life are exceptional. From day one, I was given the tools and support needed to excel in my role. The comprehensive training sessions and ongoing learning opportunities have greatly enhanced my professional growth, allowing me to stay ahead in the ever-evolving insurance industry."
"At SBI Life, our approach to customer engagement is truly inspiring. We strive to build lasting relationships with our customers by understanding their needs and providing personalised solutions. It's gratifying to work for a company that genuinely cares about its customers and goes the extra mile to ensure their satisfaction."
"As an actuary at SBI Life, I have the privilege of working with some of the brightest minds in the industry. The Company's focus on data-driven decision-making and advanced actuarial methodologies ensures that we deliver accurate risk assessments and innovative insurance solutions. The collaborative and intellectually stimulating environment here encourages us to push the boundaries of actuarial science, ensuring that we remain at the forefront of the industry."
"Working in HR at SBI Life is a unique experience. The Company values its employees and prioritises their well-being and development. Our HR practices are designed to create a supportive and inclusive workplace, fostering a culture of continuous improvement and mutual respect."
"Working in the Finance department at SBI Life has been a transformative experience. The Company provides an environment that fosters growth and continuous learning. Our team is dedicated to maintaining financial integrity and driving strategic initiatives that enhance profitability."
"Being part of the Sales team at SBI Life is both challenging and fulfilling. The Company's focus on customer-centric solutions and its robust product portfolio enables us to meet diverse client needs effectively. The support from management and the teamwork among colleagues make it a great environment to achieve and surpass targets."
