Tata AIA Life has been featured among Aon Best Employers for 2017 in India.
M Saraswathy
@maamitalks
Private life insurer Tata AIA Life, which has been featured among Aon Best Employers for 2017 in India, has focused on employee engagement and mentoring to attract and retain candidates.
The firm is the only insurer to be featured among other companies in the study by Aon Hewitt, the global talent, retirement and health solutions business of Aon.
The insurer had 3,879 employees as of November 15, 2017. Kristyl Pais Bhesania, Senior Vice President & Head of Human Resources at Tata AIA Life, told Moneycontrol that the top performers are rewarded and individuals are also given an opportunity to move into roles that they are suited for.
Tata AIA saw a 19.13 percent growth in its employee strength from FY16 to FY17 on a year-on-year basis, . The number grew to 3,251 at the end of FY17 from 2,729 at end of FY16.
Being a sector where products are sold rather than bought because of the lack of understanding of insurance, work-life balance is an essential element.
Bhesania said to ensure that a healthy work-life balance is maintained, the company also provides flexi hours and innovative leaves like singleton leaves.
"Our motto is pay for performance across all functions. Apart from the frontline training programmes, we have a speed programme to fast-track individuals to the next level. Due to this, the overall attrition is at 16 percent while at R1 and R2 level it is at 8 percent," she said.
The Aon Best Employers programme evaluates employee opinions to measure engagement, leadership, performance culture and employer brand and recognises employer excellence worldwide.
The insurer has also initiated mentoring and coaching programmes where they have the manager as coach and have a caring manager series to ensure that the right support is given to the teams as well as the manager.
"Since it is a competitive industry, the compensation benchmarks are also used to give the best pay to the right talent. Further, we also welcome talent that has quit through an initiative called ‘Home Coming’ where those individuals can join back," she explained.
