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Footprints in the sand... through all the walks of life... careful where we tread... for every step will show...
Life cannot be lived in a moment, success cannot be achieved overnight; everything is a process over time. A process that involves taking the right steps by making the right decisions in a favourable culture held fast by strong values!
Sweeping 25 years, at Kotak Mahindra we have done just that. We have consolidated our gains and taken appropriate steps of reform based on our own convictions.
Kotak Overview
The Kotak Mahindra Group is among
With a net worth of over 7,500 crore the Group has a distribution network of branches, franchisees, representative and satellite offices spread across cities and towns in India and overseas offices in London, New York, San Francisco, Dubai, Mauritius and Singapore.
Kotak Mahindra Bank
Destined to take on the world in its immutable stride the Group's flagship company, Kotak Mahindra Finance Ltd was established in 1985, and got the license to operate as a Bank in March 2003 and Kotak Mahindra Bank Ltd, got formed. That makes us the first NBFC in the country to convert into a Bank. Our banking operations provide a central platform for customer relationships across the group's various businesses. Kotak Mahindra Bank has strong presence in Commercial Vehicles, Retail Finance, Corporate Banking, Treasury and Housing Finance.
Vision
The Kotak Vision is to be the Global Indian Financial Services Brand, the most Preferred Employer in Financial Services, the Most Trusted Financial Service Company, Value Creation and Scale. We aim to be among the Top Ten Financial Institutions in the world in the next ten years.
Culture & Values
From a personnel base of close to 1500 in March 2003 Kotak Mahindra Bank employs around 10,000 people. We continue to add a steady number of employees every month.
As we move ahead toward our vision of making Kotak a global Indian Financial Services Brand, our key challenge with respect to our employees is to retain the cultural essence on which the Bank has been founded. In this context our vision continues to be to develop entrepreneurial professionals and with a view to enunciate this vision and align it with our HR Strategy.
Our culture and values resonate with our promise of Infinite Opportunities, Infinite Challenges and Infinite Growth!
At Kotak Mahindra Bank, our values are the principle guiding force. The values revolve around being Approachable, Mutual respect with transparency in dealings, Passion to achieve, and an Entrepreneurial approach.
Through all those long years that our values have remained steadfast enabling us to build a world class organization and we inculcate and disseminate the same to the rich talent which we keep attracting.
At Kotak Mahindra Bank we constantly endeavour to effectively align all our HR Processes to the Value System which leads us to provide the Best Employment Experience.
Employee Life Cycle
Kotak is an equal opportunity employer and encourages diversity in gender, region, religion, culture, age, and more. Throughout the employee life cycle our people stand only to gain. The life cycle itself is replete with productive and enhancing stages and phases.
The Recruitment stage involves the Business Directory which is a role-wise structure compilation of each business division. Recruitment TATs and Manpower Selection Grid. Sourcing, where multiple channels are used for hiring. And Selection which has several tools that help us to right-fit the candidate both in terms of skill-set and experience as well as in terms of organizational culture and values.
Recruitment is followed by the On-boarding process. At first, comes the Joining Kit, a comprehensive kit providing some basic policy information, some work culture insights etc, along with the WOW brochure and PROMISE Passport. The values handbook lays down the Organization’s Core values with behavioral indicators and also establishes the linkages between the Core Values, Employee Value Proposition, the Customer Service Values and ultimately the business outcomes. Kotak Bank has several Induction Programs like K-One, K-Bit, and MTEP. The Business Orientation Program is organized for senior positions. FirstKonnect begins a week before the candidate joins us and ends 6 months afterwards past that. This phase involves handholding the employee vis-à-vis joining formalities, the organization’s culture and values, any issues/ roadblocks that he or she may face in the first six months. Touch-points include calls, emails as well as personal meetings between the HR RM and the respective employee.
On-boarding is followed by Employee Engagement wherein initiatives encompass various activities. HR connects with employees through multiple platforms and interventions. There are Health and Wellness initiatives, and Sports, hobbies and fun activities. Konnect is a brand that has been established at Kotak HR for all activities which build touch-points of the HR Team members with employees across hierarchies. In the Konnect initiatives we offer DirectKonnect, HR Konnect Plus, and HouseKonnect. The Health and Wellness initiatives fall under KareKonnect. These include tie-ups with the Art of Living institute for their Corporate Wellness Program. Guest lectures on Naturopathy and Diet. In-house Yoga classes in select locations; and Awareness programs on conditions like Diabetes.
The Sports, Hobbies and Fun Activities include several initiatives organized throughout the year to encourage sports and other recreational activities.
The Kotak Mahindra Bank is a work place where individuals are honed in to top notch performers. The Employee Life Cycle also includes Performance Management and Rewards. PRAISE is the Performance Review and Appraisal System for Employees is our formal Performance Management Process. RACE is a complete performance management program for the frontline sales employees.
360o Assessment and Feedback is being done at the Senior Management level for the last 2 years and will soon be cascaded up to the Middle Management. Our participation in studies like the Leadership Gap Survey as well as the 360o Reports help in preparing Individual Development Plans for all Senior Managers. This is backed up by an Action Plan which is drawn up by the respective business heads. These programs not only challenge employees with stretch targets but also inspire them to focus on results and deliver beyond the ordinary.
Furthermore there we have implemented several recognition avenues. I-Applaud for instance is a platform which provides for informal recognition from co-workers, supervisors or even subordinates. Star Performers and Achievers or any person that strikes a sizeable deal or brings in a critical customer is appreciated on the Intranet through columns like “Big Hits of the Day”. All customer Appreciation that comes to our employees are posted on the Intranet under a section called “Way to Go”.
Long Service Awards is a tradition we have followed at Kotak to recognize the dedication and loyalty of people who spend 5 years and above with the organization. Values based awards in the Hall of FLAME are in pipeline.
The Kotak Mahindra is a responsible corporate citizen. Kotak has been engaging in CSR initiatives through various channels. Apart from contributing to NGOs through blood donation drives, clothes donation drives, adopting villages etc we have some specific initiatives. For creating awareness on environmental issues, we have launched an initiative called R-Five and developed a micro-site for it. We have tied up with Organizations like GiveIndia for a Corporate Payroll Giving program.
Some initiatives are synonymous with our core values and the employee value proposition. Though these values are intrinsic to Kotak, retaining their essence in the wake of a large and growing employee base is critical and hence some initiatives like Eureka, P3, and KIT are now in firmly place.
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Working with Kotak Mahindra Bank is more than worthwhile and it makes us Proud to be associated with such a Great place to work!
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