Sanjiv Bajaj sets a positive tone in employee commitment & resilience

Tough times call for greater resilience, patience and just soldiering on. There are numerous reports across media on the severe impact of Covid-19 on the economy and various sectors. Talks of recession and job losses are looming large. Amid such a gloomy scenario, Adgully is seeking to highlight the bright spots in India Inc and how the country’s corporates are keeping their employee morale high and moving ahead despite all odds. 

In a letter to the workforce of Bajaj Finserv, Bajaj Allianz Life Insurance Company and Bajaj Allianz General Insurance Company, CMD Sanjiv Bajaj sets a positive tone, encouraging his team that is working from home, and the commitment to continue to strengthen the company’s 130-year old legacy of trust. 

He begins his letter by acknowledging the dedication and speed with which all employees have driven a host of activities to support the businesses, working around constraints to keep critical services up in offices and branches and all this while taking measures to stay safe. 

He enumerated the necessary precautions taken to keep the company’s people out of harm’s way, stating, “Our support helplines, work-from-home and social distancing measures to reduce density at the workplace, increased cycle of facility sanitisation, medical support for the ailing, and many other such initiatives are ensuring our biggest strength – our people – and your dear ones stay healthy and safe.” 

Talking about the customer-centric measures, Bajaj said keeping in mind the current situation, capacities across the company’s digital assets have substantially enhanced to ensure the customers can reach the company in a quick and secure manner, as well as to issue new loans and policies. “This is our time to demonstrate our commitment to Customer-Obsession and I urge each one of us to step up and help our customers tide over this challenge,” he urged. 

He did not forget about the “tens of thousands of our partners – retail stores, online portals, collection agencies, partner banks, auto dealers, hospitals and clinics, tens of thousands of our agents and others”. He called the employees to check in regularly with them, especially the smaller partners, and assure them that the company is standing by their side through thick and thin. 

Bajaj also urged all employees to comply with the Government’s lockdown orders and stay within the confines of their safe surroundings. 

Adding further, he wrote, “While we hope these times shall pass by soon, should it take longer, we must show the resilience to stay committed and be confident so that we come out of this even stronger. We have always built our companies on the foundation of long-term orientation. I am sure this will continue to strengthen our 130-year old legacy of trust.” 

He affirmed that the fundamentals of the company’s businesses continue to stay strong. “Both our Insurance businesses have amongst the highest solvency margin in the industry and are very well positioned on liquidity and also maintain significant portion of our investments in safest instruments like Government Securities. Our Lending business is having a great FY20. We enter this crisis with a strong business model, large liquidity chest, very strong capital position and a phenomenal team. We expect to come out of this with an even stronger position in the market,” he stressed. 

He also mentioned about the company putting together a plan to do its bit for the community, the details of which would be revealed soon. 

Bajaj concluded his letter by stating, “I want each of you to know that we are in it together and that we are here for you. I am sure together we will shine through.”

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