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by IANS |
Mumbai, April 23 (IANS) The banking, financial services, and insurance (BFSI) sector in India is going through a major transformation as the presence of Gen Z in the workforce has almost doubled in just two years, rising from around 12 per cent in 2023 to nearly 23 per cent in 2025, a new report said on Wednesday.
This generational shift is influencing the way organisations approach their workplace culture. Companies are now focusing more on flexible work environments, career growth, and inclusive values --factors that matter deeply to younger employees, according to the Great Place To Work report.
The BFSI sector is not only becoming more digital but also more people-centric, especially for the youth, the report said.
Balbir Singh, CEO of Great Place To Work India, said that the financial services industry is changing fast, and to stay ahead, companies need to innovate for both customers and employees.
"The financial services industry in India is changing fast. To stay ahead, we must lead with innovation -- not just for our customers but also our employees," he stated.
As digital adoption and financial inclusion accelerate, it’s essential we actively shape better experiences for the people driving this change from within, he added.
As many as 86 per cent of employees in this sector feel that their organisation is a great place to work. This high level of satisfaction has remained stable over the past two years -- showing that companies are making serious efforts to improve the work culture.
Digital technologies like Agentic AI and Robotic Process Automation (RPA) are playing a key role in modernising the sector.
These innovations are helping automate many tasks like policy servicing, claims management, and credit processing.
At the same time, they are enabling more personalised services for customers, which boosts efficiency and customer satisfaction.
The report also shows that companies that focus on fair treatment, psychological safety, and career growth have better employee retention.
These companies are more likely to have employees who can quickly adapt to change and who trust their leadership.
Insurance companies and Non-Banking Financial Companies (NBFCs) are emerging as leaders in building strong and engaging workplaces. These sub-sectors offer valuable lessons for others in the industry, the report said.
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