Jennifer Mathew Fernandes, Deputy Chief Human Resources Officer at Bajaj Finance Limited, brings a wealth of experience to the table. With over 23 years in the field, she has tackled a wide range of HR challenges, from strategic initiatives and leadership development to employee relations and talent management. Her success lies in her ability to not only manage people but also partner with businesses across the organisation.
In this interview, Jennifer dives deep into the ever-evolving world of work. She highlights the importance of individualising the employee experience, fostering a culture of ownership, accountability, and belonging and more.
Here are some excerpts from the conversation.
When it comes to elevating employee experience, what are some key trends and challenges you foresee? What role do you think technology will play in addressing these challenges?
Being a large organisation, the biggest hurdle, for us and even smaller companies, is individualising the employee experience.
We all know everyone is unique. Sure, we create groups and cohorts, finding different ways to address employee needs, but at the end of the day, an employee is an individual unit. It’s an n=1 equation we have to consider. That’s where technology becomes crucial. Without it, we’d be flying blind, not truly addressing individual needs. Nobody wants to be lumped into a generic group and told, “This is for you.”
Focusing on the individual (n=1) is paramount. Technology helps us achieve that by reaching the end user – the employee.
In our geographically vast organisation, this is especially important. I need to ensure a uniform employee experience, from the frontlines to our top leaders. Data is key here. By leveraging data insights, technology allows us to create personalised and individualised experiences that truly cater to each employee’s needs. That’s what’s truly going to matter in the future of employee experience.
Given the evolving nature of work, how can organisations explore alternative work models (remote, compressed workweeks) to enhance employee well-being and potentially boost productivity?
The modern workplace is a mix of talent. We have a significant Gen Z population, alongside a traditional workforce. This blend has become even more dynamic thanks to the lasting effects of COVID.
Here’s what I believe is key: providing employees with their individual comfort zones. As long as outcomes are achieved, there shouldn’t be a rigid standard for work style. Whether it’s hybrid, remote, or fixed hours, the focus should be on results. That’s why we don’t have a swipe-in, swipe-out system. We emphasise outcomes, and achieving them fosters a sense of pride. A proud employee is an engaged employee, ready to give their best regardless of location. However, complete freedom requires balance. Collaboration is crucial in any fast-paced organisation, and digital tools have limitations. To achieve optimal outcomes, some shared working hours are valuable. But again, the guiding principle is individual flexibility – whatever works best to deliver results. Here, the “n=1” concept applies. We need to understand what motivates each person to excel.
Employee feedback, whether through surveys, branch visits, or casual interactions, often highlights the importance of time and space for well-being. It’s not just about annual checkups – many employees avoid them. They crave the ability to prioritise personal health on their own terms. The organisation can empower them by offering the time and space, and ideally, the resources, to pursue well-being practices they choose. This flexibility goes hand-in-hand with outcome-driven work. But fostering a well-being mindset is equally important. We need to consider emotional, physical, and mental well-being, not just for employees themselves but also for their families. After all, employees are part of a larger structure, and supporting their well-being extends to their entire environment. Only then can we achieve true well-being for our workforce.
Beyond attracting a diverse workforce and balancing their diverse wellness needs, how can we ensure equitable opportunities for advancement exist for all employees, regardless of background?
Traditionally, HR creates policies – documents are great, but true impact comes from embracing the spirit behind them. It’s about “Dil se karo” (do it from the heart). This applies to diversity as well. We’re actively promoting diversity, acknowledging that Bajaj Finance isn’t where the broader BFSI sector is yet. We’re driving change, but meritocracy remains crucial. The best talent should rise, regardless of gender, disability, or any other factor. Our policies ensure a level playing field where there’s no space for discrimination, fostering genuine diversity.
Awareness is equally important. Some employees might think, “Diversity wasn’t needed before, why now? It won’t work in our retail finance environment.” We address these concerns through awareness campaigns. We “walk the talk” – our leaders champion diversity and inclusion.
Finally, being a target-driven organisation, we set specific diversity and inclusion goals to ensure measurable outcomes. Otherwise, it becomes a nice-to-have conversation without real impact. We’re taking a year-on-year targeted approach, including infrastructure changes and policy updates. Our managers are becoming champions for this initiative, actively promoting inclusivity and a safe work environment where diversity thrives.
When it comes to designing the right employee experience, factoring in employee’s voices will be critical. Instead of simply collecting feedback, how can we empower employees to co-create solutions to identified challenges and contribute to a more inclusive and innovative workplace culture?
We at Bajaj Finance just launched a new listening framework called “BOL,” which stands for Building Trust & Relationships, Open to Solve, and Listen to Understand.
BOL goes beyond simply listening. It’s not just about “bucketing” employee feedback – categorising it as just information, action items, or ideas. Instead, BOL emphasises active listening with a focus on understanding. It’s not just top-down communication anymore. Senior leaders will actively listen and encourage employees by emphasising, “Bolo (speak), we are there.” They’ll be available to answer questions, take ideas directly to the top, and work collaboratively to find solutions. This isn’t just about target-driven conversations; it’s a cross-functional initiative.
BOL is a conscious effort to empower employees to speak up, share ideas, and participate actively. We’ll work together to bring their ideas to fruition.
It’s a new initiative, and we’re committed to making it a success. So, you’ll be hearing a lot about BOL – a shift from the traditional “leaders speak, employees listen” dynamic to one where we truly listen and collaborate.
Finally, if you had one piece of advice on how organisations can enhance workplace culture and employee engagement, what would it be?
Building a strong culture is all about teamwork, participation, and mutual respect. It requires active listening from everyone involved. Leadership plays a crucial role in driving the desired culture, but true success hinges on employee participation. A sense of belonging is essential for a culture to flourish.
My mentor once shared a valuable insight: “Culture is always there, stated or unstated. Now you have to decide, are you going to formalise that culture? Or are you going to manoeuvre around it?” Sometimes formalising the culture is necessary, while other times promoting it through actions speaks louder than words. Ultimately, that’s the key to achieving a thriving company culture.