DBS Bank India honoured as one of the 100 Best Companies for Women in India 2023
DBS inducted into the “100 Best – Hall of Fame” category for the third year in a row.
The study, over its past editions, has established itself as corporate India’s most comprehensive gender analytics exercise covering in-depth information on organisational practices and policies. The 2023 BCWI includes 354 companies spanning every major industry, geographical location, and line of business. Half of DBS Bank’s workforce globally is female, and while that percentage in India is currently 30% of the employee base, the Bank aims to increase this figure to 35% within the next three years.
Benaifer Palsetia, Executive Director and Head - Human Resources RM and COO, DBS Bank India said, “It has been established that gender diversity fuels innovation and drives excellence; hence ensuring that women are well represented in the workforce is one of the cornerstones of organisational success. From our early days, DBS Bank India has been deeply committed to creating a culture that champions diversity and empowers every individual to ‘Live Fulfilled’. Being named one of the 100 Best Companies for Women in India for the eighth consecutive year is a testament to our diversity program at DBS. The recognition is a great encouragement as we continue to provide equitable opportunities and build an inclusive workplace where every employee is valued.”
Commenting on the occasion, Dr. Saundarya Rajesh, Founder-President, Avtar Group said, “Gender diversity among the 100 Best Companies continues to increase. The average representation of women (overall) is an inspiring 36.9% this year in 2023, up from 25% in 2016, at the time of the launch of the study. At this current rate, a 50:50 gender balance at Best Companies will be a reality by 2030 – a much sooner time frame given the post-pandemic repercussions. Inclusion is an ongoing commitment; constantly innovating, focusing on growth aspirations of diverse talent, and curating a culture of care-hood must be part of leadership priorities always! Measuring and monitoring success metrics associated with these initiatives is non-negotiable.”
Subha V. Barry, President, Seramount said, “Corporations on the ‘Most Inclusive Companies in India’ list remain committed to creating inclusive cultures for their employees. We are proud to recognise their progress in measuring the effectiveness of their DEI programs, while taking the steps necessary to identify opportunities for growth and improvement.”
As part of its talent strategy, DBS Bank India prioritises targeted outreach and hiring programs, such as Women in Tech (WIT) hackathons and Hack2Hire events, to bolster women's representation in technology-related fields. Along with setting up gender-diverse interview panels to mitigate hiring bias, the Bank also has dedicated referral programs to encourage staff to refer women colleagues and has recorded nearly 26% of successful women referrals in 2023. A yearly salary benchmarking study is conducted to ensure pay parity across genders and grades, with mechanisms in place to maintain impartiality in salary-related interventions.
DBS Bank India has instituted a gender-agnostic Leadership Diversity Council as the apex governing body for the DEI agenda in the company. With approximately 25% of the organisation’s overall training budget dedicated to learning initiatives for women, DBS Bank India has initiated a comprehensive talent development approach, structured under EEE (Education, Exposure, and Experience). 26% of the Bank’s High Potential cohort are women, undergoing regular career interventions, mentoring, and job shadowing. DBS’s women leaders also have the opportunity to participate in external leadership development programs through a program called ‘upSurge,’ run in collaboration with XLRI. An outcome of these various initiatives, along with dedicated controls to ensure that meritocracy is maintained, is that more than 30% of the latest promotee cohort at DBS Bank India comprise women.
Women re-entering the workforce after a career break can make the most of the Bank’s ‘Reimagine’ program, which ensures a seamless transition back to working life. DBS Bank India offers comprehensive maternity benefits, including financial assistance and up to 26 weeks of maternity leave for new mothers. Additionally, employees can avail of 100% work-from-home support if they have a newborn or have newly adopted children up to six years of age.
DBS Bank has been included in Kelp HR’s ‘25 Safest Workplaces for Women’ list for three consecutive years. The Bank has secured a place on the Bloomberg Gender-Equality Index for six consecutive years (2018-2023) and has also earned the title of the 'Best Organisation for Women’ in 2023 by The Economic Times.
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 14 consecutive years from 2009 to 2022. Additionally, DBS Bank was ranked among the top 3 on Forbes' list of the World's Best Banks in India for three consecutive years, from 2020 to 2022.
DBS Bank has been present in India for 29 years, opening its first office in Mumbai in 1994. DBS Bank India Limited is the first among the large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank. DBS provides a range of banking services for large, medium, and small enterprises and individual consumers in India. In November 2020, Lakshmi Vilas Bank was merged with DBS Bank India Limited. The bank now has a network of ~530 branches in 19 Indian states.
As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience. In 2020, DBS introduced the "Towards Zero Food Waste" initiative as part of a global sustainability practice to encourage a shift in behaviours and mindsets to reduce food waste.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit: www.dbs.com/India
DBS Bank India
Avtar set up in 2000, is India’s first diversity advocate & workplace inclusion expert. Renowned for its extensive work in the space of Diversity, Equity & Inclusion (DEI) and more specifically, women’s workforce participation, it is the country’s largest provider of second career opportunities for women and is also the earliest to begin working on diversity audits and measurement. Lead by the visionary Dr Saundarya Rajesh, Avtar has ventured into areas of gender inclusion and career creation, which are firsts to India.
- Creating platforms for second career women to meet potential employers.
- Developing a comprehensive set of career enablers which companies can implement in their workspaces.
- Spearheading original research that has provided cutting edge insights to organisations.
- Creating India’s first diversity hiring portal myavtar.com for women, LGBTQ, PWD, Veterans and Silver Generation.
- Re-Skilling, Up-skilling and Counselling of women to pursue sustainable career paths and
- Building career intentionality amongst under privileged girl children.
Avtar Group, a Stanford Seed certified company, has built its DEI offerings under six EDs, which ensures that every organisation can have a clear path towards moving forward, building, and sustaining diverse, equitable and inclusive workplaces. The six EDs – Enrich Diversity, Embed Diversity, Enable Diversity, Experience Diversity, Extend Diversity and Endow Diversity are constructed along six key implementation dimensions of Diversity - for Audits & Advisory support, Recruitment Programs, Workshops and Training Programs, Conferences & Events, Extending Diversity to partners, suppliers, and vendors, and endowing underprivileged diversity talent, respectively. For its transformational impact in the realm of DEI, Avtar Group was listed in the prestigious Steward Leadership 25 Listing by Strait Times & INSEAD at Singapore in 2022. To know more, visit www.avtarinc.com
Seramount is a strategic professional services and research firm dedicated to supporting high-performing, inclusive workplaces. Over four decades, we've established a strong, data-driven understanding of the employee experience, which lays the groundwork for everything we do. Seramount partners with over 450 of the world’s most influential companies, large and small, to offer pragmatic solutions including best practice DEI research, workplace assessment, employee learning and development, and talent sourcing. These offerings empower companies to navigate a dynamic corporate environment and to cultivate a resilient, connected workforce that achieves extraordinary outcomes. Seramount (formerly Working Mother Media), now part of EAB, is a strategic professional services firm dedicated to advancing diversity, equity, and inclusion in the workplace. Over four decades, partnering with some of the most iconic companies in the world, we’ve built a deep, data-driven understanding of the employee experience, which lays the groundwork for everything we do. Our comprehensive DE&I toolkit includes actionable research and insights, membership, strategic guidance and consulting, and inspiring events, meeting each client’s needs no matter where they are on their journey and guiding them along an ever-changing landscape. Seramount has empowered over 450 organisations to realise the business benefits of diversity, equity, and inclusion.
To know more, visit www.seramount.com