The need for an efficient HR solution
Bajaj Financial Securities Limited (BFSL) is a subsidiary of Bajaj Finance Limited (BFL) - one of the largest retail asset financing NBFCs in India. After the company was formed, almost 100 BFL employees were moved to BFSL, while adopting TCS CHROMA™ as the HRMS.
BFSL implements TCS CHROMA™
BFL, the parent organization of BFSL, has been successfully leveraging CHROMA™, TCS’ talent management solution on the cloud. To enable a frictionless process, BFSL engaged with TCS to transition almost 100 BFL employees to BFSL CHROMA™ tenant, digitizing and streamlining the HR and talent management processes in less than a month.
This movement involved creating BFSL organization unit hierarchies in CHROMA™ along with jobs, positions, cost centers, and AOP mapping to these units. Basic employee data was migrated, including the leave balance of transferred employees. Payroll execution for BFSL was followed by historical data migration.
TCS CHROMA™, with end-to-end HR processes and a single point of accountability, helped BFSL to digitize and streamline organization and people management, leave management, performance appraisals, business expenses, and managed payroll functions.
The solution ensures the streamlining of complex organizational structures, reporting hierarchies, robust management of employee lifecycle events, and a centralized employee document repository on My Documents. Leave management ensures comprehensive leave rules configurability to address any organization-specific needs with seamless integration into the payroll system.
BFSL unlocks value with CHROMA™:
Achieved seamless employee transition in a month’s time
Empowered employees with transparency and digital efficiency
Improved visibility and decision making
Aligned BFSL policies with the parent organization’s policies smoothly