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September 25, 2013

Ujjivan Financial Services- 7th best place to work in India

Ujjivan Financial Services (UFS)


Ujjivan Financial Services (UFS) is one of those companies, which believe in making contribution towards society and its well being.  It is a micro-finance company, where employees feel so proud to work and make a difference to the lives of others that they are often reluctant to move to other high paying jobs. 


Changing the lives of people


As far as, job satisfaction is concerned, everybody feels so excited to work here.  Of course, they have certain targets, but you can't relate these targets to FMCG sales targets, where there is no limit, no satisfaction and no sense of contribution to the society.  The Bangalore-based company is aware if it and utilizes it to enhance employee satisfaction.


The accessible CEO


Samit Ghosh, the founder is easily accessible, and you don’t have to swipe your access card to meet him.  Contrary to the conventional hierarchy rules, his office is just at the entrance of the company.  They are paintings and photographs of rural women all over inside its corporate office, to remind employees, who their actual customers are. 


Practice what you preach


To stay in tune with its image, the company with more than 3500 employees regularly performs a background check through Credit Information Bureau Limited (CIBIL), to ensure that none of their employees is involved in loan defaults or has a bad credit history.  The managers at UFS also visit the residences of their new hires to interact and build relationships with their families and neighbors.  This is to ensure very high degree of integrity and ethics. 


Tenor and statistics


UFS has been servicing the microloans and micro-insurance market since 2005 and its gender ratio is one female to 3.5 males.  It was ranked seventh among the top 10 best employers in India in 2013.  UFS also keeps a watch on their competitors, as far as their business analytics and cost management practices are concerned.


Maintain a transparent approach


According to Mr. Ghosh, UFS ensures that their employees maintain a transparent approach, as far as telling the truth about the risk involved is concerned.  He follows what standard FMCG companies practice to ensure honesty and transparency.  UFS also conducts an online test to check if the employees, especially the field staff fully comprehend the new policy changes or introduction of new policies.


All round development of the employees


Such types of innovative skill cultivation has so much appeal among the jobseekers that many fresh engineering and management graduates preferred to join micro-finance at UFS in the past couple years, instead of opting for engineering and civil services.  Work life balance is extremely good and no late evenings are allowed in the company without special approval from the department heads.  Job rotation is encouraged to nurture graduates to become proficient in different disciplines such as distribution, credit, IT and product development, so that they can take up a full-fledged manager’s role soon after.


Conclusion; success through employee satisfaction


UFS has a philosophy of nurturing happy employees to make happy customers.  So, it is no surprise that UFS has a repayment rate of as high as 99.75%, which is a proof that intelligent organizations put their employees first and customers second.  Ujjivan, as the name sounds is made up of English letters, “U”, “I” and “V”, which means, you, I and we.  Such a people centric attitude defines what kind of company UFS is. 

Tags : changing the lives, employee satisfaction, great places to work in India, best workplace in India,"Ujjivan Financial Services

About Nashaat Quadri

Freelance Content Writer (Compare Infobase, New Delhi.) Ex Sr Content Writer, Western Software, New Delhi. Ex Relationship Manager, Mashreq Bank, Dubai.