Compliance related workforce leaps 143%

George Thomas, Executive Vice President (HR) at ESAF Bank

- Ravi Lalwani

Ravi Lalwani: What are the most common queries or actions that CEO/CXOs come to HR with regards to regulatory compliance?

George Thomas: Most often, the questions that come from the C-suite are related to compliance with labor laws and minimum wages, harassment and grievances, including POSH. Questions may also come related to workplace safety, data privacy of employee information and training/awareness programs conducted to sensitize the employees. The HR also receives queries related to diversity, equity and inclusion, fair pay practices, and audits related to HR compliance.

What policies or practices have you put in place to facilitate compliance?

We have several Board-approved policies in place, along with standard operating procedures. We also conduct regular sensitizing programs to facilitate compliance, apart from spreading awareness through pamphlets, pop-ups in HRMS, etc. We have dedicated training programs conducted to instill compliance culture within the employees. Annual Policy/ SOP reviews also happen within the specified time periods. Process adherence is a vital point in Performance Management Scoring. Additionally, we have risk management frameworks in place to manage compliance risk.