Mumbai, April 23, 2025: The Banking, Financial Services, and Insurance (BFSI) sector in India plays a pivotal role in the lives of hundreds of millions of people, making it the backbone of the Indian economy. The impact of BFSI organizations has only increased over the years, led by the digitalization of services and ways of working and supported by government initiatives to improve financial inclusion. According to the latest Great Place To Work report, 86% of employees in the BFSI sector affirm that their organization is a great place to work—a sentiment that has remained stable over the last two years. In addition to customer-facing innovations, the sector has undergone significant transformations driven by technological advancements, changing customer expectations, and evolving workforce demographics.
Digitization has been at the forefront of these changes, with innovations like Agentic AI and Robotic Process Automation (RPA) becoming increasingly mainstream. These technologies are revolutionizing multiple facets of the BFSI industry, from automating policy servicing and claims management to streamlining credit and lending services and delivering more personalized customer experiences. As these technologies gain momentum, the BFSI sector is poised for greater efficiency and a deeper connection with an increasingly tech-savvy customer base.
One notable shift within the industry is the growing influence of Gen Z, who now represent almost 23% of the workforce in the sector, up from approximately 12% in 2023. This demographic shift is compelling organizations to rethink their workplace strategies, with a strong focus on flexible work environments, personalized growth opportunities, and an inclusive culture that aligns with the values of younger employees.
On this note, Balbir Singh, CEO, Great Place To Work®️, India, said, “The financial services industry in India is changing fast. To stay ahead, we must lead with innovation—not just for our customers but also our employees. As digital adoption and financial inclusion accelerate, it’s essential we actively shape better experiences for the people driving this change from within. At Great Place To Work® India, we are proud to partner with many of you in the BFSI sector on this journey towards building workplaces where employees not only perform but truly thrive. Our 2025 insights reveal that 86% of BFSI employees believe they work at a great workplace, a strong and consistent sentiment over the past two years. This reflects your commitment to navigating change with purpose and care.With Gen Z now making up 23% of the workforce and women’s participation rising steadily, employee expectations around equity, psychological safety, career growth, and work-life balance are evolving fast.
He also added, “Employees today seek more than just stability – they seek purpose, inclusivity, and an environment where they feel truly valued. Our data also points to continued opportunities, especially in addressing manager favoritism, workplace politics, and ensuring fair profit sharing.Encouragingly, the Best Workplaces in BFSI are outperforming their peers – not only in overall employee experience but particularly in engaging women professionals and Gen Z talent. Sub-industries like insurance and NBFCs are leading the way with a strong focus on building an engaged workforce, offering valuable learnings for the entire industry. As the BFSI landscape continues to evolve, the future belongs to organizations that listen actively, adapt boldly, and lead with empathy. This report highlights the work done, the road ahead, and the immense potential the sector has to redefine what it truly means to be a great place to work. Thank you for trusting us as your partner in culture. We look forward to continuing this journey together.”
Despite the rapid growth and innovation in the BFSI sector, challenges remain within the workplace experience. While almost 90% of the employees trust their management’s competence and ethics and have the necessary resources and equipment to do their jobs well, research highlights that some areas of workplace culture require improvement. A significant proportion of employees—around one in four—are seeking better solutions for workplace politics, manager favoritism, and fair profit-sharing.
Recent studies reveal that egalitarian treatment, psychological safety, and career growth are the top drivers of workplace satisfaction and retention in the BFSI sector. Organizations prioritizing these areas see their employees as 3.1 times more likely to adapt quickly to changes needed for the organization’s success and 2.7 times more likely to believe their management is ethical. Best Workplaces in the BFSI sector consistently outperform in these key areas and create a more engaging work environment for their women and GenZ employees. As the BFSI industry continues to evolve, it is clear that balancing technological advancement with a commitment to enhancing the employee experience is crucial for long-term success. The future of the industry will depend not only on innovation, but also on the ability of organizations to create work environments that foster trust, growth, and fairness.
With these dynamics shaping the future, the BFSI sector is undergoing a transformation in both the services it provides and the ways in which it engages and supports its workforce. Companies that adapt to these shifting expectations—by integrating cutting-edge technology and fostering inclusive, supportive work environments will be best positioned to thrive in this rapidly evolving landscape.
Here are a few organizations that have been recognized as India’s Best Workplaces in BFSI 2025:
Large size organizations:
· Axis Max Life Insurance Limited
· HDB Financial Services Limited
· Motilal Oswal Financial Services Limited
Mid-Size Organizations:
· Electronic Payment and Services (P) Limited
· Varthana Finance Private Limited
· Raise Fintech Ventures Private Limited
