The Federal Bank Limited
Why The Federal Bank Limited is a Great Place To Work
The Federal Bank Limited is a Great Place to Work-Certified™ organization. The company has created a Great Place to Work FOR ALL its employees by excelling on the 5 dimensions of a High-Trust, High-Performance Culture™ – Credibility, Respect, Fairness, Pride, and Camaraderie. Every year, Great Place to Work® identifies India's 100 Best Companies to Work For (with employee strength more than 500) through an objective and rigorous workplace culture assessment process.
Federal Bank Limited is a major Indian commercial bank in the private sector having 1200+ branches and 1900+ ATMs/Recyclers spread across different states in India. The Bank is a pioneer among traditional banks in India in the area of using technology to leverage its operations and was among the first banks in India to computerize all its branches. The Bank offers its customers, a variety of services such as Internet banking, Mobile Banking, Online bill payment, Fee collection, Depository services, Transaction Banking Services, Merchant banking services, Insurance, Mutual fund products, and many more as part of its strategy to position itself as a financial supermarket and to enhance customer convenience. The federal bank has practices that directly focus on the personal and professional development of all stakeholders. The program details are well thought of, warm, and designed to ensure, benefits reach far and wide. From the time an employee enters the organization to the time he/she exits, they are looked after every step of the way.
Some of the Best People Practices and Initiatives at The Federal Bank Limited include -
Nayi Soch: “Nayi Soch” - is a bold movement and a way of life in their bank with New Thinking as a manifest in everything they do. It scaled up to an exclusive two-day program of the top brass with brainstorming sessions and participative leadership actively encouraging a culture of Nayi Soch. The Bank hosted a mind-bending conclave – “Nayi Soch’ for our top executives to fraternize, exchange ideas, and learn the new. The program saw all their leaders gather at a single location to ideate and move closer to becoming the most admired Bank. The Nayi Soch meet was meant primarily to shine a torch on the urgent need to think the new, in a marketplace that keeps changing shape, by the minute.
SMILES & MAITRI: SMILES, a program run in collaboration with Rajagiri College of Social Sciences, provides employees with a confidential venue to express their personal and professional problems and concerns. Employees are provided with professional assistance and counselling as well. SMILES gives all employees access to a free, confidential, workplace counselling service and can potentially be viewed as part of the Bank’s value of care. MAITRI is a preboarding engagement program in which dedicated Candidate Relationship Managers connect with Candidates to get updates on their conditions, reinforce Federal Connect. The goodwill calls enhanced the candidate morale and has strengthened the candidate relationship. The calls have a standardized approach and the feedback is tracked.
Federal Bank's mint fresh brand campaign, "Rishta Aap Se Hai, Sirf App Se Nahi TM brings alive the Bank's work ethic - Digital at the Fore, Human at the Core.
This captures many a day that Customers experience in the Bank. In markets of dominance employees of the Bank are a part of celebrations as well as moments of grief of their clients. There are many instances where Customers have experienced the technological ease of transactions as well as the service with sensitivity at branches.
The campaign is inspired by real life events and that is transposed on to the communication. There is no script, protagonists of the campaign are the employees, the customers, and the partners of the Bank.
The multiple narratives of the campaign are representative of the Bank's robust franchise. On an average a client clocks in above 10 years of relationship, giving the Bank the benefit of a high life-time value of the Customers. And during this phase the Bank will be able to participate in the various life stages of both its retail as well as corporate banking customers. Besides, having one of the lowest attrition rates in the industry, enhances the customer confidence in the Brand.
The core idea of Rishta Aap Se Hai, Sirf App Se Nahi TM comes from the secret sauce which includes Commitment, Agility, Relationship orientation, Ethics and Sustainability (CARES Value Framework). This campaign is representative of how we conduct ourselves as a team to reinforce ‘Digital At The Fore, Human At The Core’.
