Dubai, known for its soaring skyscrapers and vibrant business landscape, has become the next frontier for Bajaj Allianz Life Insurance. With their recent expansion into the UAE market, Bajaj Allianz is moving forward to revolutionise people management in the region. Leading the charge is Santanu Banerjee, the Chief Human Resources Officer (CHRO) of Bajaj Allianz. 

In an exclusive interview with People Matters, he unveiled the key objectives and goals that will shape the organisation's approach to empowering employees in Dubai. As Bajaj Allianz sets foot in the region, their primary focus is to provide a seamless customer service journey for their significant NRI customer base. By delivering simpler and faster services, they aim to ensure that the life goals of their customers remain on track. 

But it doesn't stop there. Bajaj Allianz takes pride in being a "Listening Organisation," placing great importance on fostering two-way communication. Banerjee revealed how they have bid farewell to traditional models like the bell curve and embraced an incentive-based approach, empowering employees with a sense of ownership.

Excerpts from the interview: 

With the expansion of Bajaj Allianz in Dubai, what are the key objectives and goals for people management in the region?

Bajaj Allianz Life opened its first representative office in Dubai, UAE on June 15, 2023. As an organisation, the UAE is a crucial market for us with its sizeable NRI population. Through this office, we intend to provide simpler, faster and a seamless customer service journey to our NRI customer base and ensure their life goals journey remains on track.

As an organisation, we take pride in being a ‘Listening Organisation’, emphasising the importance of fostering two-way communication and more. We have moved away from the bell curve model and embraced an incentive-based approach that fosters a sense of increased ownership amongst employees. We strongly encourage internal talent mobility and have implemented various initiatives for a highly engaged, efficient, and motivated workforce. We will ensure implementation of relevant people policies across all our offices, including Dubai. We have empowered our employees in Dubai as well, by providing them with the necessary training, technology, and contextual innovation to ensure customer delight.

How can data analytics and artificial intelligence help in talent acquisition and recruitment processes?

It is interesting to see how the HR function has evolved over time and is operating in an ecosystem today that is contemporary, simple, fast and user-friendly. Talent acquisition and recruitment is one of the main aspects of our jobs as HR professionals and we understand the importance of empowering ourselves with the knowledge of market trends and available tools to enhance our hiring strategies. 

Data analytics and AI have not only become critical but also a mainstay in our daily operations. As the recruitment landscape continues to evolve, leveraging these technologies will remain crucial for success. The emergence of data analytics and AI has revolutionized the process of sifting through vast amounts of information to identify the right candidates through various profiling techniques to improve recruitment efficacy uncover valuable insights on employee productivity, morale and identify pointed action plans around learning and other interventions. We are constantly using AI to screen and assess candidates, save time and effort and gain the right set of people, with the right attitude across functions and hierarchy in the organization and have been using Robotic Process Automation to bring in process efficiencies.

What specific HR functions or areas can benefit the most from data analytics and artificial intelligence? 

While certain HR roles might be more dependent on data analytics and AI than others, but its usage extends across most areas within the function. Primarily, the application of data analytics and AI helps us to expedite the process of aligning our requirements with the available information or data from external sources. This in turn, leads to increased efficiencies beyond just talent acquisition. AI-driven recommendations in employee engagement, learning &upskilling further enhance experiences for our employees. 

Initiatives like an AI powered BOT empowers us do proactive and targeted dipsticks, analyse feedback and implement data-driven strategies thereby helping in talent engagement and retention.

What measures can be taken to ensure data privacy and ethical use of data in HR analytics and artificial intelligence applications?

A broader vantage point will tell us that, data privacy and ethical use of data are not limited to just the HR function; as a responsible corporate citizen, we strive to implement umbrella policies that enable all functions and employees to effectively manage and uphold data privacy. These policies are designed to ensure compliance with industry standards and regulations. By taking a proactive approach to data privacy, we aim to foster a culture of responsible data handling across the organization, safeguarding sensitive information and maintaining the trust of our stakeholders.