IndiaCatalog.com
India News
Search Web Directory
News Home
ICICI Bank moves to revamp its office culture, discards cabins, some grades
Posted on 19th August 2019
MUMBAI: Employees at ICICI Bank Ltd are in the midst of a cultural shift as the bank adopts open office structures, abolishes grades and imparts skills to employees to adapt to sales jobs that would need human intervention amid automation and digitization.

The changes in office space structure, include the group leader sitting alongside the team instead of a cabin; and access of a larger section of employees to its management dining room and changes in the way certain benefits are handed out. Interestingly, the bank saw a change in top leadership in October with Sandeep Bakhshi taking over as chief executive.

Under the new structure, office floors will have a few conference rooms for use by employees but will not have enclosed cabins earmarked for team leaders. The bank is renovating its head office in Mumbai’s Bandra Kurla Complex (BKC) to allow the seating makeover. This will also be the new design for all its new offices.

“We are certainly removing hierarchy within the organization. The objective is to become flexible and agile so that we significantly improve the speed at which we are able to respond to the marketplace. We have done so through a combination of structural changes and through the abolition of symbols associated with grades," said T.K. Srirang, group chief human resources officer, ICICI Bank.

The bank has scrapped grades of employees above the assistant general manager (AGM) rank, retaining grades only for executive directors and the managing director. This affects around 500 employees who are now identified by their roles (like segment heads) and are clubbed together as the leadership team. For instance, in the erstwhile setup, a designation would be prefixed by the grade, which has been removed.

A general manager and head of retail (west) will now just be called head of retail (west) on his visiting card. As on 31 March, the bank had 86,763 employees.

The private sector lender has also allowed 500 employees access to its executive dining room, which was earlier open only to the top tier of the management.

“Our executive dining room where only the top management was allowed earlier is now open to our entire leadership team. In today’s agile world, the time has come for the entire senior management to connect on a regular basis and it provides a good platform," Srirang said.

Another change has to do with how a person’s grade could be guessed from the office car allotted. Employees can now opt for a cash payout instead.

“Symbols like difference in cars, size of the cabin, which were manifestation of certain grade-led benefits, are no longer present. So, we have done away with those benefits and cashed out some others," he added.

That apart, Srirang said, the new structure allows the bank to appoint the most suitable person to a particular role, not necessarily driven by the grade of the person. “For instance, say a zonal head of our bank in a particular region was at the erstwhile level of deputy general manager (DGM). Now, if I have a chief manager (junior to DGM) who is brilliant and could be appointed there, I can move the person swiftly. Earlier, the bureaucracy of the grade structure would have prevented me because that level was associated with a DGM," said Srirang.

Veinu Nehru Dutta, director (financial services), ABC Consultants, said all new firms, whether it is the fintechs or the new non-banks, are bringing in an open office culture. While grades are yet to go off completely because designations still matter in India, the open office culture is picking up, she said.

Related Companies: ICICI Bank   

Other Latest News
Get FDA license or face shutdown: Goa govt warns high-end restaurants
Posted on 29th February 2020

The Goa government on Saturday warned all high-end restaurants operating along the coastal belt in the state to obtain the Food and Drugs Administration (FDA) licence within a month or face shutdown.

The warning comes amid concerns over rising food adulteration and use of carcinogenic chemicals in fruits and vegetables by traders.


AGR dues: Bharti Airtel pays ₹3,004 crore as full and final settlement
Posted on 29th February 2020

Bharti Airtel said it has paid an amount of ₹3,004 crore towards the full and final settlement of its adjusted gross revenues (AGR) dues in addition to ₹10,000 crore already paid on February 17, 2020 on behalf of the Bharti Group of Companies.

The company added that it has also deposited an additional amount of ₹5,000 crore as an ad-hoc payment (subject to subsequent refund or adjustment) to cover differences, if any, arising from the reconciliation exercise with the Department of Telecommunication (DoT).


'Pakistan Army Epicenter Of International Terrorism': Pak minorities protest during UN human rights meet in Geneva
Posted on 29th February 2020

A poster was displayed before the Broken Chair monument in Switzerland's Geneva on Sunday, which condemned Pakistan for being the 'epicenter' of global terrorism. The poster was put up by Pakistan's minorities, to protest against the Pakistan Army's actions, during the ongoing 43rd session of the United Nations Human Rights Council.

The minorities in Pakistan demanded that the United Nations take strict action against Islamabad for its covert support and funding to terror outfits.


US, Taliban set to sign historic peace deal today; Indian envoy to attend
Posted on 29th February 2020

The much-anticipated peace deal between the United States and Afghanistan's Taliban is set to be signed in Qatar's Doha on Saturday. Envoys of more than 30 countries, including India, are expected to attend, news agencies reported.

US-Taliban peace deal is set to be signed today evening in Doha (Qatar), Indian envoy is among 30 countries invited to witness the event, ANI reported quoting sources.


FB, Twitter, Google threaten to shut services in Pak over new internet law
Posted on 29th February 2020

A coalition comprising digital media giants Facebook, Google and Twitter (among others) have spoken out against the new regulations approved by the Pakistani government for social media, threatening to suspend services in the country if the rules were not revised, it was reported.

In a letter to Prime Minster Imran Khan earlier this month, the Asia Internet Coalition (AIC) called on his government to revise the new sets of rules and regulations for social media, The News International reported on Friday.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for ICICI Bank moves to revamp its office culture, discards cabins, some grades
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for ICICI Bank moves to revamp its office culture, discards cabins, some grades

Most Read News

Technology will help deliver speedy justice: PM Modi at International Judicial Conference

Centre pays Rs 50,850 crore to farmers under PM-KISAN scheme

TVS Motor slides 6% as coronavirus outbreak set to impact February output

Conspiracy to defame India at international level: MoS Kishan Reddy on Delhi violence

Malaysia's Mahathir Mohamed returns as interim PM a day after resigning

More India News

Photo Gallery

Hero Maestro(11 Images)Hero Maestro
Vikram(11 Images) Vikram
Emma Stone(12 Images)Emma Stone
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2020 IndiaCatalog.com
    All Rights Reserved
Privacy Statement