In the cutthroat world of NBFCs, where attrition rates can soar past 40 per cent, Arka Fincap stands out. This mid-sized company boasts a remarkable attrition rate below 20 per cent, a testament to its unique philosophy – investing in its own people.
Five years ago, Arka Fincap was a mere sapling, a subsidiary of Kirloskar Oil Engines. Today, it’s a flourishing tree with a workforce exceeding 500. But unlike its competitors who chase every shiny new talent, Arka Fincap cultivates its own.
“Our employees are our brand ambassadors,” declares Rashmi Warange, Arka Fincap’s head gardener, her voice filled with conviction. “Engagement goes beyond a slice of cake on a Friday.” Here, it’s about nurturing genuine care and mutual respect, the fertile soil from which Arka Fincap’s success blossoms.
One of the sturdiest branches of this philosophy is the robust employee development programme. Over the past two years, a staggering 20 per cent of Arka Fincap’s workforce has blossomed from individual contributors into full-fledged managers, all within the company walls. This isn’t a random promotion; it’s a carefully planned metamorphosis. Arka Fincap partners with expert trainers to identify high-potential employees and equips them with the tools and knowledge needed to thrive as leaders.
“Our employees are our brand ambassadors. Engagement goes beyond a slice of cake on a Friday. Here, it’s about nurturing genuine care and mutual respect, the fertile soil from which Arka Fincap’s success blossoms.”
Rashmi Warange, head – Human Capital Management, Arka Fincap
But Arka Fincap’s nurturing doesn’t stop there. This year, they made a bold pledge: to fill all managerial positions in their retail sector, encompassing a whopping 83 per cent of the workforce, through internal promotions. This ambitious goal stands in stark contrast to the industry standard of poaching talent from competitors.
Equipping their people isn’t limited to leadership skills. Arka Fincap offers a unique ‘soft skills training’ programme, a departure from the generic one-size-fits-all approach. Here, the curriculum is tailored to each employee, ensuring not just professional development but also the blossoming of interpersonal and communication skills.
Integrity is another pillar that strengthens Arka Fincap’s foundation. Its ‘sales consciousness programme’ emphasises honesty and truthfulness in customer interactions. This six-month programme instils a strong ethical code, setting Arka Fincap apart from competitors who might prioritise short-term gains over long-term trust.
Recognising the digital revolution, Arka Fincap has partnered with ByteEdge to provide bite-sized learning modules accessible through a user-friendly app. This allows employees to learn on the go, during commutes or breaks, ensuring knowledge is readily available, like sunshine nourishing the mind. Additionally, content is offered in five regional languages, fostering inclusivity for their diverse workforce.
Engagement extends beyond just professional growth. Arka Fincap prioritises work-life balance, a rarity in the demanding world of finance. Unlike most NBFCs that operate six days a week, Arka Fincap champions a five-day workweek. This policy, actively supported by the CEO, sends a clear message: a happy and well-rested workforce is a productive one.
“We don’t measure performance by the hours clocked,” says Warange. “We believe in a supportive environment where employees can thrive, both personally and professionally.” This nurturing culture fosters loyalty and a sense of belonging, like roots anchoring a plant.
Transparency is another key ingredient. Regular town halls keep employees informed about business updates and provide a platform for open communication. Additionally, top performers are recognised and rewarded through a well-defined compensation plan. Respect forms the bedrock of Arka Fincap’s culture, with a zero-tolerance policy for disrespectful behaviour.
Arka Fincap’s story is a breath of fresh air in a polluted industry. By prioritising their employees’ growth, well-being, and career paths, they’ve cultivated a loyal and motivated workforce – the driving force behind their success. In a world obsessed with quick fixes, Arka Fincap stands as a beacon, demonstrating that investing in people is the most valuable investment of all. Their story is a testament to the fact that when you nurture your employees, they not only grow, but they become the reason for your own growth.
5 Comments
Rarely seen in today’s world, where everyone behind numbers and no respect for employees understandings, hardwork, good to see everyone feels homely atmosphere, this all about, Organisation builds on employees strength, respect to everyone because day’s maximum time spent on Job and every one should feel proud for the day, so that they can deliver maximum productivity
Great to see the great internal collaboration…. When is that you are planning for IPO?
Arka Fincap is a company where office atmosphere is very good. Senior Hierarchy of this company is like a jam. I am enjoying work in this company.
In most NBFCs Targets are central! So you’re either being a target or are chasing one blindly! Hence Arka looks different. NBFC themes centre around Growth, Profit, at breakneck speeds often causing anguish to everyone around. Remember speed thrills but kills! So to with NBFCs. Hats of Arka. Afterall it comes from House Kirloskar ??
Arka Fincap Ltd. as an organisation has displayed its core values of Trust and people focus, resulting in a strong culture of mutual respect and service spirit. This has made it a great place to work. Best wishes to team Arka Fincap for taking care of their Human Resources which has brought them success. Keep it up!