We Hold Our People At The Core Of Our Strategy: Archana Chadha, Head of Human Resources, HSBC Bank India
In the fiercely competitive world of banking and finance, where innovation and talent are the key denominators, HSBC has emerged as a true champion for its employees. For over 170 years, this global banking giant has witnessed countless transitions, emerging stronger and more committed than ever to creating a workplace where every individual can thrive and flourish.
At the heart of HSBC's success lies a clear purpose - "Opening up a world of opportunity." This purpose drives the organization's HR strategy and is deeply woven into its culture and values. HSBC's commitment to inclusivity is the bedrock of its achievements, where employees are celebrated for their uniqueness. A culture of inclusion and respect fosters an environment where everyone can reach their full potential.
HSBC's unwavering belief in the integral role of its people is evident throughout the organization. With a relentless focus on creating a healthy and challenging work environment, HSBC empowers its employees to contribute significantly to the strategic priorities of the organization. Their human-centric Employee Value Proposition (EVP) encompasses various elements that make HSBC an exceptional workplace.
Total Rewards Offering: Supporting Employees Holistically
At the core of HSBC's EVP is a comprehensive Total Rewards offering, ensuring that employees are supported through all aspects of their lives.[KJ1] Market-leading and flexible benefits, employee-friendly policies and host of career development opportunities form the foundation of HSBC's Total Rewards philosophy, offering a secure and rewarding environment for its workforce.
Career Development Opportunities: Unlocking Potential
HSBC understands that continuous learning and growth are vital to employee engagement. To unlock the full potential of its workforce, HSBC provides a bouquet of career development opportunities. From the HSBC University to honorarium for upskilling on new age skills such as Data, employees are presented with a vast array of avenues to nurture their skills and expand their horizons. Policies such as Professional Study and Qualifications Programme offers employees financial assistance to acquire external professional qualifications; and at the same time transformational platforms such as Talent Market place helps HSBC implement their own version of a gig economy, where individuals are matched to part-time projects and networking opportunities based on their current and aspirational skills, experiences, and career ambitions by using Artificial Intelligence.
Fostering Recognition and Allyship
HSBC firmly believes in empowering its managers and employees to enhance culture of recognition. Through one of its kind platforms “At Our Best" - all employees receive half yearly monetary budget that they may use to recognize deserving colleagues from across the globe. The employees receiving the recognition can redeem these points to avail wide variety of products and services on a marketplace. Such interventions ensure that employees act as active allies to uphold HSBC values, speaking up when needed and fostering trust and collaboration.
Inclusive, Open, and Fair Work Culture: Embracing Diversity
Diversity is not just a buzzword at HSBC; it's a way of life. The organization is deeply committed to being an inclusive employer, supporting, enabling, and developing talent regardless of background, age, disability, gender identity, ethnicity, religion, or belief, and orientation. Their market-leading policies such as Childcare allowance (fixed allowance for primary caregivers irrespective of gender), Mother On board program (Structure intervention for pre-ML to post ML transition), same-sex partner coverage in Medical insurance, and healthcare insurance covering gender reassignment are just a few of the testimonials to organisation’s commitment for promoting a fair and open work culture.
Employee Wellbeing and Flexible Working: Nurturing Work-Life Balance
HSBC prioritizes employee wellbeing, recognizing its crucial role in productivity and happiness. With a supportive and flexible working environment, coupled with bouquet of flexible wellbeing offerings (through flexi wallet) HSBC enables employees to maintain a healthy work-life balance, contributing to their overall happiness and success. HSBC also constantly benchmarks its benefits such as medical insurance and term life insurance with external market and stays ahead of the curve with its innovative offerings.
Adapting and Evolving for the Future
HSBC's people strategy and EVP have continuously evolved to meet changing employee expectations and macro landscapes. The organization stays ahead of the curve by continuously evolving its HR Strategy and having an outward-in perspective.
From enhancing market-leading benefits to including evolving principles of Future of Work, Future skills, Data & Digital skills, HSBC has ensured that its employees continue to find opportunities and growth.
Cascading the HR Strategy: Ensuring Alignment and Effectiveness
HSBC places great emphasis on fostering alignment with employees at all levels and functions. Transparent two-way communication forms the foundation of this endeavour. Effective conversations lead to simpler ways of working, heightened trust, and greater productivity among all parties involved.
HSBC's Legacy of Success
HSBC's unwavering commitment to its employees has earned it numerous accolades, and recognition as a Great Place to Work. The organization's HR initiatives have garnered positive feedback from employees and industry experts alike. With its inclusive culture, comprehensive EVP, and innovative HR practices, HSBC stands tall as a true winner, opening a world of opportunity for its employees and empowering them to achieve greatness.
A Vision for the Future
As the dynamic world of finance evolves, HSBC remains poised for continued success and growth. With a commitment to empowering employees and fostering a culture of inclusivity, HSBC sets the standard for excellence in talent management.
“At HSBC, we hold our people at the core of our strategy and integral to our overall success. We aim to create a workplace where everyone feels inspired and empowered to contribute towards the strategic priorities of the organization.
It is our constant endeavour to equip our people to be at their best by cultivating an environment of trust, flexibility, collaboration, learning and well-being. Our all-inclusive and human-centric EVP acts as a key differentiator and makes HSBC an employer of choice", says Archana Chadha, Head of Human Resources, HSBC Bank India
With an unwavering vision to adapt to changing business expectations in a rapidly evolving world, HSBC is ready to embrace the challenges of the future, secure in the knowledge that its employees are its greatest asset.
