Arohan Financial Services Limited | Annual Report 2022-23

Employee onboarding • Aashirwaad: The Aashirwaad programme is a key component of Arohan’s field onboarding process. Of the total field force of the Company, more than 65% are between the age group of 21–27 years. Hence, it is construed that, more often than not, the job offered to them is their first job. Through Aashirwaad, family members of the probationary field officers are made a part of their onboarding journey, helping them develop an emotional bond with the Company, while ensuring better engagement and retention. • Employee Selection Process: Arohan uses a mix of methods to evaluate the right candidate for the right role. Arohan has its own Competency Framework based on which different psychometric tools are used for behavioural assessment, ensuring that all mid-level and senior-level positions are interviewed by a panel comprising of different department heads to get a holistic view of the candidate. An online aptitude test is conducted for junior candidates, and for all non-field candidates, a one-day field visit and report submission is mandatory. Much as the candidates are evaluated, they too are encouraged to evaluate the sector and the Company. Only when the candidates find themselves aligned to the purpose of the Company in tune with their own the onboarding process is initiated. This helps Arohan manage its drop-out rates. Performance Driven Culture At Arohan, it is ensured that employees earn their promotions through a performance-driven work culture. Employees go through a rigorous assessment for their next higher role and, based on their performance and maturity, are promoted to the next level. Arohan also encourages its employees to apply for higher positions through Internal Job Postings within the Company because suchmovements provide encouragement and motivation to the employees. ADDRESSING THE UNIQUE NEEDS OF EMPLOYEES Employee Benefits • Compensation: Arohan has adopted a three- pronged approach for its compensation structure to cater to the unique needs of the different groups of employees: 1. For entry-level employees, the approach focuses on ensuring more ‘cash in hand’ to meet their day-to-day expenditures, encouraging performance-linked incentive schemes 2. For middlemanagement level employees, the focus is on balancing the aspects of long-term Retirement benefits and cash-in-hand to meet their immediate requirements 3. For senior leaders, the focus is on value creation through Employee Stock Option Plans and other tax-saving benefit schemes and variable pay, where the pay-out is dependent on the Company’s profit • Employee Advances, Loans, and Grants: To mitigate the needs of certain short-term financial support, Arohan offers its employees advances, loans, and grants. 1. Advances are given to address the immediate financial needs of the employees, which can be paid back within a stipulated timeline. 2. Loans are of two categories – Personal and Educational, which relatively is a large amount provided to employees and for a longer duration. 3. Grant is a special category of Education loan, which takes care of financing any professional course or certification programme relevant to the job the person is undertaking. • Long-Service Recognition: Arohan recognises the strong commitment of its employees who have been associated with the Company for 5 and 10 years and have played a key role in the growth of the Company. To this effect, Long Service Awards & Recognitions are organised for eligible employees. • Work from Home: With Arohan being home to a diverse workforce and the new hybrid work culture that employees prefer in today’s scenario, the Company offers Work From Home (WFH) facility to those employees who have the necessary infrastructure and whose jobs allows them to operate from home, while ensuring that employees perform to the organisation’s work expectations from the role. • Child Care Leave: Being a mother can sometimes require a woman employee to take a few days off from their work in order to care for her child’s needs. As working from home is not an option for female employees in the field, Arohan has introduced a Child Care Leave only for women employees in Management Discussion & Analysis Annual Report 2022-23 | 64