Axis Bank's Remotely Working Employees Get Higher Performance Ratings, Promotions: Report

Axis Bank’s employees working remotely have reportedly been offered better appraisals in the form of higher performance ratings and promotions. According to a report in ETNow, the private lender has claimed that its employees working from anywhere have been recognised ‘well’ in appraisals. 

While Axis Bank has not given any quantitative parameters to show the outcome of the appraisal season, it has said that its employees working remotely have received better rewards as compared to the overall population. The ETNow report quotes Axis Bank’s President and HR Head Rajkamal Vempati and mentions that cohort that was working remotely has held up against working in a hybrid space, as ‘evidenced in annual appraisals.’

One of the main factors behind these relatively better appraisals has arguably been Axis Bank’s ‘GIG-A-Opportunities,’ a platform for alternate work models. Since the aim is to attract the finest pool of talent, the model claims to embrace the ‘work from anywhere’ model for the ease of employees in this changing space. 

In 2020, Axis Bank also said that over the next three years, it targets up to 15 per cent of incremental hiring in alternate work models. As of now, around 30 per cent of its workforce can be considered eligible for such alternate and new working models, the report said. 

According to a Times of India (TOI) report, Vempati also mentioned that low attrition and higher performance have been observed in this alternate work setting. Additionally, several freelancers have also made significant contributions towards results, especially with the help of better time management by remote leaders. 

While companies like Axis Bank are taking steps to embrace the remote working model, there are others like the IT giant Wipro that are trying to call their employees back in a work from office setting. Regardless of the work setting, this debate is still on.