From the highs of adding new locations, successful collaborations, unique initiatives, scaling new peaks to business challenges and demonetization, 2016 was a massive year for Bajaj Finserv.

On the business front, the big projects of the year gone by included capacity planning, models customized engagement, digital pulse and proactive attrition management. We launched the new Retail EMI Card and tied up with leading e-tailers like Flipkart, Amazon, and Snapdeal and posted big gains over the previous year. Our people-friendly policies won us big acclaim, while we tapped the tier 2,3 and 4 market.

The festive season was a time we brought plenty of cheer to our customers with the Sparkling Diwali campaign which saw lakhs of customers making the most of the best offers on consumer durables, lifestyle goods, clothes, and helped Bajaj Finance achieve a robust 46% jump in Q2 net profit.

New Beginnings  
Bajaj Finserv’s new venture, the Retail EMI Card introduced the idea of hassle-free clothes shopping. Features like a pre-approved loan, easy online shopping, and nil foreclosure charges, made this card popular among clients.

We also offered an attractive sop of free airline vouchers worth Rs 12,000 on personal loans during a flash sale in December. First time home loan applicants had a reason to smile as they got a low-interest rate of 9.20% due to Bajaj Finserv’s promotional offer.
E-commerce is the pulse of the future. And to leverage this, we sharpened our digital channel strategy by investing in technology to explore the e-commerce ecosystem. Our main focus was to provide a niche, efficient and hassle-free experience to the end user.

We also learned some important lessons in this process that were incorporated in our business approach. We are also proud to finance categories across Flipkart, Amazon and Snapdeal as part of EMI finance. This association and goal reaped huge rewards as our e-commerce crossed 36,000 transactions.

We continued the expansion of PLCS market, and brought in the Green Channel framework to transform the mortgage industry. We added 100 new locations in the consumer business, 52 in PLCS, 60 in urban gold loans, and 35 in retail EMI. We also registered growth in Tier 2 segment for salaried loans.

Operations management is that vital component that defines the future roadmap of a company. It is a strategic tool that factors in careful planning, resource building, capacity building and creates an output that impact businesses.

Our People, The Heroes
As an organization, we are adopting self-management policies to help our people survive and thrive. Employees work in a very transparent work environment where praise and constructive criticism co-exists. We have also launched various skill based and manager focussed training initiatives for our employees. It is no wonder then that we boast of very low attrition rates and 27% of open positions in the office were closed internally. We also consistently rank high on employee satisfaction surveys.

There are a number of policies aimed at empowering our people that have helped us adopt a balance between open and traditional work cultures. Initiatives such as these that have helped us be recognized as one of India’s 20 Best Employers as well as “a great place to work” for the fourth year in a row.

As we begin calendar year 2017, we take our learnings from the year that was and look forward to meeting challenging business objectives and delivering success for our customers and our people.