Keep a sharp eye on the future

Puneet Khurana is refreshingly down-to-earth for someone heading the Human Resources department of India’s only profitable consumer internet company in the past ten years. For the not-so-business-savvy, that is what’s known as a unicorn company – named thus as they are exceedingly rare.

Khurana grew up in Gurgaon and earned a degree in hotel management from the Institute of Hotel Management PUSA (Jaipur Chapter). He spent the next few years learning how large corporations work at renowned companies like Hero Group, Dell, IBM and Stryker Global. An eager student, he went on to earn a Management degree specializing in Human Resources. The degree suited him well because of his unique ability to analyze situations objectively and in an unbiased manner.  Rapidly moving up the ladder, he eventually joined Policybazaar.com as the HR head. To support the high growth trajectory of the company, he dove headfirst into increasing the employee base of the company from 1450 to 10,000 employees in a span of three short years.

Though he may not be taken to boasting, Khurana knows his department’s stats inside and out - and he is clearly proud of what he has helped Policybazaar accomplish. It was his sports background that prepared him for the corporate sector. He remembers that one of the earliest team activities he was able to execute flawlessly was cricket and basketball.

“Even if you miss a second of teamwork, it destroys the entire game. Teamwork is in the DNA of a sports person. It has really helped to add value to my organisations too,” he recalls.

As he guides and develops the team at Policybazaar, he uses the following lessons:

Good HR policies need to be a top priority

“HR is an ocean, and it is not just about compensation and benefits. It involves getting the right people, managing them and improving their skill sets, while juggling the organisation, as well as its tantrums and market volatility. As a leader, you also have to ensure that the management and the employee are in tandem with each other at every second of their journey,” he explains.

At Policybazaar, his focus has been on framing policies which create a conducive work environment and foster professional growth. He also led employee engagement initiatives, which played an instrumental role in aligning the goals of the management with the workforce, thereby creating synergies between the senior, junior and middle management.   

He also places extra emphasis on communicating changes quickly as well as clearly and up and down the line, so that everyone is aware of what is going on, all the time. Regular calibration sessions between the teams ensure that this communication is open and transparent.

Focus on succession planning and internal development

“For a niche industry such as ours, there is a dearth in skilled talent. Thus, intensive leadership programs are put in place to nurture talent in-house for senior leadership positions. The hallmark of our organisation is that 80% of our senior management has been groomed, mentored, and promoted internally. What sets us apart is also the entrepreneurial model that we follow within the organisation.  At Policybazaar, each manager is empowered to take his decision and run his department like individual business entities, which are working in sync.”

When asked how he ensures that these internal development resources are going to the right people for the job, he responds, “We maintain a strong culture of trust internally. What we seek in our candidates are primarily talent and attitude – aptitude is something we can look to develop.”

For more insights from Khurana, see his full profile here.