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BFSI

Banking, finance and insurance sectors
can promote well-being among employees
when they implement HRMS.

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Organizations which are into banking and finance can employee skilled workforce through HRMS.

Banks, Finance, Insurance and Service industry plays an important role and their financial contribution to the government and the country is immense. These growing industries contribute around 20% of the total GDP. Companies which are into BFSIC will be able to cut down their expenses to a great extent.

HR Challenges in the BFSI industry

1

Hiring the right staff

While adequate resources are available at entry and middle-management levels, the real differentiation comes from senior management, where star performers are hard to find.
2

Attrition and Retention

As the industry grows steadily, there are innumerable opportunities making talent retention a huge challenge.
3

Regressive competition

Given the fact that salary structures vary from one FS company to another, poaching and other regressive practices are commonplace.
4

Changing working conditions

As FS companies embrace a globally dispersed customer-base, work timings and working conditions have changed enormously with time.
5

Technology training

Given the high rate of adoption of automation technologies by FS companies, employees must be trained all the time in order to stay productive.
6

Creating an effective HR policy

Managing such a dynamic industry requires having a clear HR policy in place, which is rarely the case with most FS companies.

PW Solutions for
the BFSI Industry

BFSIs can hire right staff, reduce attrition, improve staff skills, compensate properly, introduce technology and do many other useful things in the existing computer systems.

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Improved working conditions

Customers can improve the working condition and bring-in wonderful work culture.

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Recruitment and training

Banks, insurance and other financial sectors can recruit big team and offer them comprehensive training.

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See reduced attrition rates

Companies can reduce attrition levels and manage their human resources well.

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Implement rigorous Hr policies

Hr department can create rigorous HR policies and implement the same through our HRMS immediately.

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