Tata AIA wins Kincentric Best Employer in India for the 7th Time in a Row
- Enters the exclusive Kincentric Best Employers Club, a group comprising only 10 companies as on date
- The award recognizes Tata AIA’s core value of ‘People at our Core’, that focuses on engaging with employees and partnering with them in the organization’s success journey
MUMBAI, India, April 14, 2023 /PRNewswire/ — Tata AIA Life Insurance Company Limited (Tata AIA), one of India’s leading life insurers, has been recognized as a Kincentric Best Employer in India for 2022. Kincentric is a globally renowned platform that showcases organizations that are industry leaders in employee engagement and development.
The win also propels Tata AIA into the Kincentric Best Employers Club, an exclusive group that has just 10 companies to date. Membership in the Kincentric India Best Employers Club is based on a rigorous evaluation process that includes a review of the last three years’ certifications and an in-depth analysis of the people processes in place. This evaluation is designed to understand the longevity of the initiatives and practices that member organizations have put in place to create a positive employee experience.
Tata AIA continues to create exceptional employee experiences by reinventing talent practices to meet the changing needs of employees in today’s increasingly complex world. The company has been excelling across critical people factors measured as part of the Kincentric Best Employers assessment – employee engagement, organizational agility, engaging leadership and talent focus. This is in the backdrop of challenges being faced by companies globally, around employee turnover and declining engagement levels post pandemic.
This award is testimony to the efforts of Tata AIA’s HR and leadership team that constantly strives to meet the needs of its 12,000+ Tata AIA employees by –
- Creating a comprehensive employee lifecycle experience through ‘Hire to Retire’ approach
- ‘Recruiting for Success’ to nurture our talent base for future leadership
- Inculcating a constant learning and development mindset across the organization
- Recognizing and awarding stellar performance through multiple organization wide platforms
Commenting on this occasion, Kristyl Bhesania, President, and Chief Human Resources Officer at Tata AIA, said, “Being named as a Kincentric Best Employer for the 7th consecutive time, and being recognized as a member of the prestigious Best Employers Club is a great honor for all of us at Tata AIA. It is the perfect barometer that validates our people-centric practices and our firm commitment to our people. I would like to thank all my colleagues who are part of our HR team, our senior leadership team for their contribution and support in this journey.”
“People have always been one of the core values driving Tata AIA and pivotal to the organization’s ethos and culture. This recognition is a testament to our ongoing and consistent efforts to create a work environment that fosters growth, collaboration, and innovation. Employee engagement and well-being are integral to our business strategy. We are also completely committed to continuously improving our people processes to support our employees’ growth and development,” she added.
Amy Vinh Mumma, Global Culture and Engagement Practice Leader for Kincentric, said, “Kincentric Best Employers identifies organizations that demonstrate excellence in the workplace, by creating differentiated employee experiences and agile & inclusive cultures that lead to stronger, more sustainable business results. Extraordinary organizations like Tata AIA stand above the rest because they accelerate outcomes through high employee engagement, profound organizational agility, engaging leadership and talent focus. We congratulate Tata AIA on achieving this recognition.”
Kincentric, a global HR advisory firm, recognizes Best Employer organizations that have consistently demonstrated their commitment to building differentiated experiences for their employees. It is the seventh consecutive year the Company has received the prestigious recognition of Best Employer since 2016. Kincentric’s premium annual assessment evaluates organizations across the industry to identify the Best Employers.
Recently, Tata AIA earned the Great Place to Work® Certification, a hallmark of Best Workplaces in the country. This recognition is conferred by the Great Place to Work® Institute, based on a rigorous work culture assessment process. The recognition requires 70% or more of a company’s employees to rate it as a great workplace and is considered among the most prestigious achievements for a people-centric organization.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region.
About the Tata Group
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.
The group operates in more than 100 countries across six continents, with a mission ‘To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.
Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation, art, and culture.
In 2021-22, the revenue of Tata companies, taken together, was $128 billion (INR 9.6 trillion). These companies collectively employ over 935,000 people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly listed Tata enterprises with a combined market capitalization of $311 billion (INR 23.6 trillion) as on March 31, 2022.
Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Indian Hotels, Tata Communications, Tata Digital, and Tata Electronics.
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei, and Macau SAR, and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$302 billion as of 30 June 2022.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 40 million individual policies and over 17 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code ‘1299’ with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
About Kincentric
Kincentric, a Spencer Stuart company, helps organizations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity, and inclusion, we use data-driven insights to architect solutions that add value, enhance agility, and increase organizational effectiveness. For more information, visit kincentric.com.
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