Branch International, the Indian personal finance app, has launched a unique BOLD Stipend programme, as part of its endeavour to upskill its employees. Realising the importance of enhancing the skills of its employees and leaders, so that they are ready for the future, it has made it possible for its employees to upskill themselves and ensure growth. Each employee will be eligible for Rs 40,000 per calendar year, to pursue professional development courses and programmes. The requests for financial assistance require the approval of the employees’ immediate managers.
The Company has set aside a budget for professional development, of which the BOLD Stipend is an integral part. This can be used by the employees to attend job-related seminars, conferences, and training programmes. If they so desire, employees can even apply for reimbursement under the BOLD Stipend for certification programmes or financial assistance to pay tuition fees.
Over 70 per cent of the workforce at Branch International has taken advantage of this financial aid to either hone their core skills or acquire new skills, including soft skills. The Company has already spent more than Rs 10 lakhs in upskilling its employees.
As Sucheta Mahapatra, MD India, Branch Personal Finance App puts it, “Bold Stipend is one of the many ways through which we are promoting a culture of growth in our company. Radical reskilling is the need of the hour now, and we are encouraging all our employees to use this opportunity and enhance their skills.”
The programme is aimed at creating “pathways to higher-paying, more resilient careers to build a more equitable future,” she adds.
Established about five years ago, Branch International offers financial services to the mobile generation, with offices in San Francisco, Lagos, Nairobi, Mumbai, and Bengaluru. Its boasts of over 30 million downloads, five million customers, 25 million loans processed, and over $600 million in loans disbursed.