BusinessWire India
Mumbai (Maharashtra) [India], October 5: DBS Bank India has once again been recognised as one of the 100 Best Companies for Women in India 2023 (BCWI) for the eighth successive year. The consistent focus of the Bank on championing Diversity and Inclusion (D&I) has additionally earned them the honor of featuring in the "100 Best - Hall of Fame." The accolade is jointly awarded by Avtar, India's premier Diversity, Equity, and Inclusion solutions firm, and Seramount, a strategic professional services and research firm. This recognition underscores DBS Bank India's commitment to gender inclusivity and creating a workplace that caters to the needs of its diverse employee base.
The study, over its past editions, has established itself as corporate India's most comprehensive gender analytics exercise covering in-depth information on organisational practices and policies. The 2023 BCWI includes 354 companies spanning every major industry, geographical location, and line of business. Half of DBS Bank's workforce globally is female, and while that percentage in India is currently 30% of the employee base, the Bank aims to increase this figure to 35% within the next three years.
Benaifer Palsetia, Executive Director and Head - Human Resources RM and COO, DBS Bank India said, "It has been established that gender diversity fuels innovation and drives excellence; hence ensuring that women are well represented in the workforce is one of the cornerstones of organisational success. From our early days, DBS Bank India has been deeply committed to creating a culture that champions diversity and empowers every individual to 'Live Fulfilled'. Being named one of the 100 Best Companies for Women in India for the eighth consecutive year is a testament to our diversity program at DBS. The recognition is a great encouragement as we continue to provide equitable opportunities and build an inclusive workplace where every employee is valued."
Commenting on the occasion, Dr. Saundarya Rajesh, Founder-President, Avtar Group said, "Gender diversity among the 100 Best Companies continues to increase. The average representation of women (overall) is an inspiring 36.9% this year in 2023, up from 25% in 2016, at the time of the launch of the study. At this current rate, a 50:50 gender balance at Best Companies will be a reality by 2030 - a much sooner time frame given the post-pandemic repercussions. Inclusion is an ongoing commitment; constantly innovating, focusing on growth aspirations of diverse talent, and curating a culture of care-hood must be part of leadership priorities always! Measuring and monitoring success metrics associated with these initiatives is non-negotiable."
Subha V. Barry, President, Seramount said, "Corporations on the 'Most Inclusive Companies in India' list remain committed to creating inclusive cultures for their employees. We are proud to recognise their progress in measuring the effectiveness of their DEI programs, while taking the steps necessary to identify opportunities for growth and improvement."
As part of its talent strategy, DBS Bank India prioritises targeted outreach and hiring programs, such as Women in Tech (WIT) hackathons and Hack2Hire events, to bolster women's representation in technology-related fields.
Along with setting up gender-diverse interview panels to mitigate hiring bias, the Bank also has dedicated referral programs to encourage staff to refer women colleagues and has recorded nearly 26% of successful women referrals in 2023. A yearly salary benchmarking study is conducted to ensure pay parity across genders and grades, with mechanisms in place to maintain impartiality in salary-related interventions.
DBS Bank India has instituted a gender-agnostic Leadership Diversity Council as the apex governing body for the DEI agenda in the company. With approximately 25% of the organisation's overall training budget dedicated to learning initiatives for women, DBS Bank India has initiated a comprehensive talent development approach, structured under EEE (Education, Exposure, and Experience). 26% of the Bank's High Potential cohort are women, undergoing regular career interventions, mentoring, and job shadowing. DBS's women leaders also have the opportunity to participate in external leadership development programs through a program called 'upSurge,' run in collaboration with XLRI. An outcome of these various initiatives, along with dedicated controls to ensure that meritocracy is maintained, is that more than 30% of the latest promotee cohort at DBS Bank India comprise women.
Women re-entering the workforce after a career break can make the most of the Bank's 'Reimagine' program, which ensures a seamless transition back to working life. DBS Bank India offers comprehensive maternity benefits, including financial assistance and up to 26 weeks of maternity leave for new mothers. Additionally, employees can avail of 100% work-from-home support if they have a newborn or have newly adopted children up to six years of age.
DBS Bank has been included in Kelp HR's '25 Safest Workplaces for Women' list for three consecutive years. The Bank has secured a place on the Bloomberg Gender-Equality Index for six consecutive years (2018-2023) and has also earned the title of the 'Best Organisation for Women' in 2023 by The Economic Times.
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