When you are Reliance Capital Asset Management (RCAM) —the largest asset manager with over Rs 2,50,000 crore of Assets Under Management across mutual, pension and offshore funds and managed accounts — it follows that you are really good at what you do.
Says Rajesh Derhgawen, Chief Human Resources Officer, RCAM: “What we offer is an employee value proposition that is built on the pillars of empowerment and entrepreneurship, challenging assignments, career growth and a great enabling culture.
RCAM has adopted a very innovative approach to hiring. “More than 90 per cent of our CXOs are from outside AMC space and today more than 30 per cent of hires are coming from outside BFSI from sectors like banks, telecom, FMCG and e-commerce etc,” says Derhgawen.
This means RCAM has been able to bring in a lot of ‘non-AMC’ folks into its fold which provides a diverse talent pool with fresh perspective and expertise. Now it’s one thing to get in people; entirely another to make sure that they stay with you. RCAM has scored really well here. While its attrition rate is around 15 per cent, 70 per cent of the leadership team has been with the system for 10-plus years and average tenure for all being 5-plus years.
What about pay? “Being part of the best team, our people are always prone to being poached by the competition. But we don’t believe in throwing big bucks just to retain, instead we retain our people by adding value, building their career, creating a great family connect and ring-fencing our key talent through stock options and long-term incentive plans.”
Raghu@businessworld.in
BW Reporters
Raghu Mohan is an award-winning senior journalist with 22 years of experience. He has worked for BW Businessworld since December 2006, and is currently its Deputy Editor. His area of expertise is banking – commercial, investment, and the regulatory. Previous stints include those at The Financial Express and Business India.
