Employees across all levels at BankBazaar.com will receive hikes and promotions, w.e.f January 1, 2021. The fintech company is confident of growth in the coming year and also plans to expand its workforce in Chennai, Bengaluru and Mumbai. It is gearing up to add about 500 people, by March 2021, to its current 1,000-strong team.
It is the usual practice for the Company to give hikes of eight per cent and above. This year, the increments were delayed due to the disruptions caused by the pandemic. However, the hikes this year will be in line with what was given in the past, and will cover even those employees who were not eligible for an increment in FY20. Eligible employees also received bonuses this year.
Working on enhancing its digital ‘know your customer’ (KYC) offerings, the Company wishes to ensure contactless credit access. In line with this goal, most of the new recruits will be for its technology and customer-service wings. Therefore, it will be looking for engineers, as well as people for its customer support and product teams. The objective is to speed up innovation and ensure rapid integration of digital KYC and analytics solutions, which are essential for growth.
Although the Company faced setbacks temporarily due to the economic downturn, it was able to report six months of straight revenue growth. It did not resort to any cost-cutting measures or layoffs during the pandemic.
