Axis Bank has released its Axis Bank FY2023 Annual Report “Open to win together” stating Axis Bank’s well-being policy has focused on the rounded wellness of its employees in the personal, social, and professional spheres of everyday life.
The professional counselors on board offer confident and unconditional support to employees and their immediate families on any personal or professional issue that they struggle with.
The bank’s FY2023 annual report disclose that Axis staff continued to leave in large numbers during the years. The employees have exited the bank both voluntarily and involuntarily over the last three years.
The attrition increased to 34.8% in FY2023 from 31.6% in FY2022. In the last 3 years, female staff attrition has been higher than male attrition.
| Employee Attrition | FY 2023 | FY 2022 | FY 2021 |
| Male | 34.4% | 31.1% | 18.8% |
| Female | 35.9% | 33.2% | 20.2% |
| Permanent Employees | 34.8% | 31.6% | 19.1% |
The Bank has extended mental health services to employees’ families, group therapies, couple therapy, and grief counseling. The response picked up with time. In 6 months, there were around 600 employees who sought counseling therapy as one-on-one or group sessions and 1,247 people are in queue seeking counseling appointments.
The Bank has partnered with inFeedo, a SAAS-based Technology Company, and is using their AI-enabled bot called Amber for regular pulse sensing. Employee experience and engagement are captured as early as 21 days from the date of joining. This tool digitally reaches out to a set of employees daily and has HR conversations with them around their experience of working at Axis Bank.
Over the last 1 year, Amber has reached out to 75,212 employees. Under the Open to Listening initiative, the bank also runs multiple surveys across various employee cohorts to gain insights into employee experiences and key areas of concern so as to deploy adequate corrective/engaging interventions.
