Mumbai– The banking, financial services, and insurance (BFSI) sector in India is undergoing a significant transformation, with the proportion of Gen Z employees nearly doubling over the past two years. According to a new report released Wednesday by Great Place To Work India, Gen Z’s presence in the BFSI workforce rose from around 12 percent in 2023 to nearly 23 percent in 2025.
This generational shift is reshaping workplace culture, pushing organizations to prioritize flexible work environments, career growth, and inclusive values—factors that matter deeply to younger employees.
The report highlights that the BFSI sector is evolving not only through digital transformation but also by becoming increasingly people-centric, especially in its approach to engaging the younger workforce.
Balbir Singh, CEO of Great Place To Work India, emphasized the need for innovation within the sector.
“The financial services industry in India is changing rapidly. To stay ahead, companies must innovate—not just for customers, but also for employees,” Singh said.
As digital adoption and financial inclusion accelerate, Singh stressed the importance of creating better experiences for the people driving these changes from within.
Employee satisfaction in the sector remains strong, with 86 percent of BFSI employees saying their organization is a great place to work—a figure that has remained stable over the past two years, reflecting sustained efforts to enhance workplace culture.
The report also points to the role of digital technologies, such as Agentic AI and Robotic Process Automation (RPA), in modernizing the sector. These tools are helping to automate tasks like policy servicing, claims management, and credit processing, while also enabling more personalized services that boost both efficiency and customer satisfaction.
Additionally, the report finds that organizations focusing on fair treatment, psychological safety, and career growth see higher levels of employee retention. These companies tend to foster adaptable workforces and strong trust in leadership.
Insurance companies and Non-Banking Financial Companies (NBFCs) are emerging as leaders in cultivating engaging workplaces, offering valuable insights for others in the sector looking to strengthen their workforce strategies. (Source: IANS)
