Understanding and retaining Gen Z: Key Focus for India's BFSI Industry | Today news

According to a wonderful place to work India, the share of Gen Z employees (those born between 1997 and 2012) in India’s banking, financial services and insurance and insurance (BFSI) sector in two years almost doubled, increasing from 12% in 2023 to 23% in 2025. Another projection by EY says that Gen Z will make up. always. But the new generation has been changed a lot. With a softer education and exposure to technology, it is not easy for organizations to understand and handle it. Most Gen Z prefers work that matches their personal choice. They prefer flexibility and are prone to purposeful organizations. However, a high turn -off rate, especially among technical employees, is an important reason why organizations are struggling to get it right with Gen Z. To get a brainstorm and come to solutions to check the downtake under Gen Z and understand ways to hire it, coin, in collaboration with the OneXT manipal academy of the BFSI industries. The idea was to understand what the top companies do to attract the right kind of talent and how they retain it. Earlier, the Central Bank of India only attracted talent by IBPS exams. Now it reaches to Gen Z using all possible channels. The Chro Poppy Sharma emphasized how the Tech Fast organization embraced and recently introduced an AI instrument for rent. The tool helps to sift through a large amount of applications before sending a final list to the employer. Zurich Kotak General Insurance is trying to build a robust campus program with an internal patch and see how Gen Z can be more welcome from an organization. “We have divided the rental process in recruiting side and Gen Z recruitment of campuses. If we rent individuals with product knowledge, it takes a lot of time before they start doing business for us. That’s why we work to create an HTD model and start building relationships with campuses,” said Akhila Ananthanarayanan, Vice President. “To attract Gen Z is one part of the equation – the other helps them to thrive in a multi -generation workplace,” says Vaishali Worah, Head Learning & Development, Axis Mutual Fund. “We keep sessions that coach young talent to appreciate different work styles and equip drivers of parallelly to lead Gen Z with empathy and adaptability. Conservation is not just about new benefits or policies, it is also about mutual respect and real understanding between multiple generations that work as a team.” Indusind Bank, which has 50,000 employees, is on a rent. Over the past few years, the focus has been on the retail side, which is the number of branches, etc. Increase, so the rental. “When we rent campus technicians, our partners create compound assessment hackathons, which do an initial level of filter, and it helps us bring in quality people,” says Rupesh Shinde, main HR technology. The experts agreed that institutions should invest in the modernization of their digital platforms and to offer innovative fintech solutions. They must be transparent, build trust and authenticity, improve business literacy and develop personalized products and services. Ashish Parab, VP & Head Sales HR, Star Union Dai-Iichi Life Insurance Company Limited said: “The real challenge was not to hire people, it was preparing the organization to welcome them. Talent acquisition is just one part of the equation, real success comes from building a culture, understanding, understanding and empowering.” “As far as the reduction is concerned, we reached 8.16% limit of FTE, which we may have made No. 1 under the NBFCs with the lowest reduction rate,” said Ravi Khanna, Head -Human Resources, Bobcard Ltd. “This percentage is significantly lower in the last 2-3 years, which is a big positive. We also had a very high score in our working company in FY25. Because if people are internally happy with your engagement, the word will spread, and it will attract better talent.” To engage family members, make them aware of the positive aspects of the organization is a great draw for Gen Z. The bank, with one of the lowest dismantling rates (3%), has somehow cracked the code to attract and retain GEN Z. ‘There is a deep understanding between the organization and the employee. We have 5,000 employees, and it is the job of every leader to be a mentor, to grow their colleges. Our workforce is 25%. And each of them has been selected and trained to ensure that they can fit into the culture of the company, ”says D. Ramesh, Executive Vice President HR. In Aditya Birla Capital, profitable campaigns were also transparent, a big game changer. To find lovely place to attract young talent, on the other hand, it also struggled with high downturn. We have taken some initiatives, including the launch of an excellence program of two years or a journey we created for leading selling, and we are also bringing people off the campuses. Facing a similar situation isyes Securities (India) Limited. With a 45% breakdown rate two years ago, the company had to think seriously to stop its young talent. “Our downturn is 22%today. Initially, we thought compensation was a problem. But we realized that we paid on an equal footing with the market when we did a market comparison. We started different employee engagement initiatives, including executive medical examinations, subsidized foods, family benefits, and the most critical of the organization. reduce and increase the work of employees, ”said. “Human capital management. For the central Bank of India, a slight increase in the reduction rate was a big red flag. One of the main reasons, the bank realized, was compulsory transfers. To investigate this, we came up with the concept of zone-based recruitment. In this concept, the new recruits, to scale 3, will not be transferred to other states, “said Poppy Sharma, Chro. The need of the hour is to understand what one runs in the organization should be relevant to the set of people hired. We also have an enterprise model, where one can join as a business development officer and earn commissions or incentives for recruiting agents, ‘says Anjum Sheikh, Lead HR-Associate VP, Tata. Unxt-learning entity supported by the Manipal Education and Medical Group (MEMG), which offers the industry-related education and training for freshers and existing professionals, built a model so that students have a little skin in the game. Students get to know the organization, as many senior management members come for discussions on campus. This involvement helps keep retention to rent the freshers directly from the college, “said Oatash Shah, SVP & Head-Business. If the organization is consistent, the oral goes out.” Gen ZS looks at brand and social image, they seek transparency and esteem. They are open to multidimensional learning learning. They need a very good direction because their attention span is relatively lower. Those who focus on their attention span are likely to find purpose and prosperous, ”says Sunder Natarajan, Chro of India of the first life insurance. Much of it is about perception, and also that Gen Z prefers short-term performances rather than long-term performances. Gen Z presents both challenges and important opportunities for the BFSI sector. Institutions build lasting relationships with this influential generation and ensure their own long -term success.