Despite a demographic shift in the workforce in recent years, the employees working in the banking, financial services and insurance (BFSI) sector continue to rate their employers highly. According to the latest Great Place To Work report, 86% of employees in the sector consider their organisations to be a “great place” — a sentiment that has remained stable over the past two years.
The report shows that the sector is undergoing change in terms of workforce composition where the participation of GenZs and women have jumped in the past few years. For instance, GenZs account for nearly 23% in 2025 as compared to about 12% in 2023. Similarly, women’s participation has jumped by 4 percentage points to 21% in the last three years.“This demographic shift is compelling organisations to rethink their workplace strategies, with a strong focus on flexible work environments, personalised growth opportunities, and an inclusive culture that aligns with the values of younger employees,” the report noted.
The report has featured top 50 best workplaces in BFSI in 2025. In the large-size organisations cohort, the prominent names include Axis Max Life Insurance, Motilal Oswal Financial Services, and Bajaj Finance. The mid-size category features Varthana Finance, Raise Fintech Ventures and Electronic Payment and Services.
“The best workplaces in BFSI are outperforming their peers – not only in overall employee experience but particularly in engaging women professionals and Gen Z talent. Sub-industries like insurance and NBFCs (non-banking financial companies) are leading the way with a strong focus on building an engaged workforce, offering valuable learnings for the entire industry. As the BFSI landscape continues to evolve, the future belongs to organisations that listen actively, adapt boldly, and lead with empathy,” said Balbir Singh, CEO at Great Place To Work India.
Although the overall employee satisfaction is high in the BFSI sector, research highlights that some areas of workplace culture require improvement. For instance, around 25% of the surveyed employees seek better solutions for workplace politics, manager favouritism, and fair profit-sharing. “Almost 90% of the employees trust their management’s competence and ethics, but there are some challenges within the workplace experience. The future of the industry will depend not only on innovation, but also on the ability of organisations to create work environments that foster trust, growth, and fairness,” the report said.
Further, the report said that various studies reveal that egalitarian treatment, psychological safety, and career growth are the top drivers of workplace satisfaction and retention in the BFSI sector. “Organizations prioritising these areas see their employees as 3.1 times more likely to adapt quickly to changes needed for the organisation’s success and 2.7 times more likely to believe their management is ethical,” it noted.