“Whilst we continue to grow, our mantra to hire people with the right kind of attitude and then training them has served us well in building an extensive learning and development proposition to empower our people with the domain knowledge,” reveals Das. The work environment in ICICI Prudential Life is committed to creating a learning environment and a performance driven culture, which is reinforced through effective performance management of the employees.
The first step in the performance management comes in by linking individual performance objectives to business objectives and evaluating the performances consistently. Asserts Das, “We’ve pioneered the frontline capability development through a strong performance management system that has enabled us to provide our employees with an accelerated career path from the very first day.” The HR think tank of the organisation has also put in place a robust career acceleration program that links training & certification of frontline employees and a strong talent management program for employees in middle & senior management cadres to identify their strengths & development areas and then groom them for leadership roles later.
Going by management guru Jack Welch’s prescription, ICICI Prudential Life too strives to provide a high performance meritocratic work environment with differentiated rewards and recognition opportunities for its top talent. Das adds, “As one of the key players in the high growth sector we also use ESOPs as an effective tool in value creation for the middle and senior management, which helps in creating ownership within the organisation”. Most financial companies have been struggling with a nerve-wracking problem called ‘attrition’. To tackle this problem in an effective manner, ICICI Prudential Life has devised an attrition dashboard that helps track attrition for each function and location. Looks like the program has worked, as 80% of the senior management have been with the organisation for over five years now.
For ICICI Prudential Life, the “Jeetey Raho,” philosophy not only works for the consumers but also for its vast workforce. And for this vast employee network, ICICI Prudential Life’s mantra is to ‘stay and grow with us’ and this is what keeps this organisation ticking.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
The first step in the performance management comes in by linking individual performance objectives to business objectives and evaluating the performances consistently. Asserts Das, “We’ve pioneered the frontline capability development through a strong performance management system that has enabled us to provide our employees with an accelerated career path from the very first day.” The HR think tank of the organisation has also put in place a robust career acceleration program that links training & certification of frontline employees and a strong talent management program for employees in middle & senior management cadres to identify their strengths & development areas and then groom them for leadership roles later.
Going by management guru Jack Welch’s prescription, ICICI Prudential Life too strives to provide a high performance meritocratic work environment with differentiated rewards and recognition opportunities for its top talent. Das adds, “As one of the key players in the high growth sector we also use ESOPs as an effective tool in value creation for the middle and senior management, which helps in creating ownership within the organisation”. Most financial companies have been struggling with a nerve-wracking problem called ‘attrition’. To tackle this problem in an effective manner, ICICI Prudential Life has devised an attrition dashboard that helps track attrition for each function and location. Looks like the program has worked, as 80% of the senior management have been with the organisation for over five years now.
For ICICI Prudential Life, the “Jeetey Raho,” philosophy not only works for the consumers but also for its vast workforce. And for this vast employee network, ICICI Prudential Life’s mantra is to ‘stay and grow with us’ and this is what keeps this organisation ticking.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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