Investing in Our Employees

The Bank’s human capital strategy is underpinned by key cultural anchors of fair compensation, learning and growth, care and empathy for employees.

The Bank’s endeavour is to create a responsive workforce, encouraged by empowering the teams to take cues from the local environment and identify opportunities for risk-calibrated growth. The Bank has taken steps to organise and structure teams to facilitate the Bank’s approach to Customer 360°. The Bank has invested in aligning the organisation around micro-markets and customer ecosystems by increasing the density of leadership in key markets.

Fair Compensation

ICICI Bank follows a prudent compensation practice under the guidance of the Board of Directors and the Board Governance Remuneration & Nomination Committee (BGRNC or the Committee). The Compensation philosophy of the Bank is aligned to team performance.

The Bank’s approach to compensation is intended to drive meritocracy within the framework of prudent risk management.

The total compensation is a prudent mix of fixed pay and variable pay, which takes into account a mix of external market pay and internal equity.

The fixed pay offered by the Bank, largely reflects pay for the role. The variable compensation is in the form of share-linked instruments or cash or a mix of cash and share-linked instruments.

The cash component of variable pay (performance bonus) is aligned to the philosophy of 'One Bank One Team' as it is based on overall performance of the Bank and reflects reward for team performance. The grant of share-linked instruments to eligible employees, reflects individual potential and criticality of position/employee. The compensation of staff engaged in all assurance functions like Risk, Compliance & Internal Audit depends on the achievement of key results of the respective functions and is independent of the business areas they oversee.

Learning and Growth

The Bank’s focus on Customer 360o banking requires employees to have multi-product knowledge and skills. The Bank has robust and dynamic architecture across functional training, leadership development, digital and industry-academia programmes to equip employees with the required skillsets.

As custodians of trust, employees are expected to take decisions which are ‘Fair to Customers and Fair to the Bank’. To strengthen the risk and compliance culture and orient frontline leadership to it, the Bank has included it in its induction programme, workshops and mandatory e-learning programmes which reinforces the need to apply the Bank’s framework, while dealing with such situations within the guardrails of risk and compliance.

Overall, during fiscal 2023, the Bank delivered a total of over 12 million learning hours for its employees.

In addition, the Bank is also committed to promoting and respect human rights. It has put in place policies to provide an enabling and harassment-free work environment that respects and upholds individual dignity. The Bank's Human Rights Policy is aligned with the United Nations Guiding Principles on Business and Human Rights (UNGP) and International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work.

As employee needs evolve, ICICI Bank is committed to serving employees with passion and care.

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