ICICI Bank to become flexible and agile to significantly improve speed of response to marketplace [#ICICIBank #BecomeAgile #AgileNewsAndViews]
Employees at ICICI Bank are in the midst of a cultural shift as the bank adopts open office structures, abolishes grades and imparts skills to employees to adapt to sales jobs that would need human intervention amid automation and digitization.
The changes in office space structure, include the group leader sitting alongside the team instead of a cabin and access of a larger section of employees to its management dining room and changes in the way certain benefits are handed out. Interestingly, the bank saw a change in top leadership in October 2018 with Sandeep Bakhshi taking over as CEO.
Under the new structure, office floors will have a few conference rooms for use by employees but will not have enclosed cabins earmarked for team leaders. The bank is renovating its head office in Bandra Kurla Complex (BKC) of Mumbai to allow the seating makeover. This will also be the new design for all its new offices.
“We are certainly removing hierarchy within the organization. The objective is to become flexible and agile so that we significantly improve the speed at which we are able to respond to the marketplace. We have done so through a combination of structural changes and through the abolition of symbols associated with grades.”
– T.K. Srirang, Group Chief Human Resources Officer, ICICI Bank
The bank has scrapped grades of employees above the assistant general manager (AGM) rank, retaining grades only for executive directors and the managing director.
This affects around 500 employees who are now identified by their roles (like segment heads) and are clubbed together as the leadership team.
For instance, in the erstwhile setup, a designation would be prefixed by the grade, which has been removed.
ICICI Bank moves to revamp its office culture, discards cabins, some grades: