We’re committed to delivering innovation, dedication, quality, integrity, scale, and excellence to our clients: Navin Upadhyaya

Navin Upadhyaya
Navin Upadhyaya

Within Human Resource Management (HRM), talent management reigns supreme as both the most critical and challenging aspect. This significance intensifies when we consider HRM through the lens of Human Capital Management (HCM).

In other words, talent management is the cornerstone of human capital, the engine of wealth creation. That is why one of the most promising Chief Human Resource Officers (CHROs) in India, Navin Upadhyaya, CHRO at 360 ONE, shares, “I joined 360 ONE driven by a compelling vision and a shared commitment to excellence in talent management within the wealth and asset management industry.

Navin furthers that recognising his firm’s well-established reputation and extensive network, he was inspired by the opportunity to lead transformative initiatives in attracting and retaining top talent. “The company’s clear focus on leveraging its unique circle of influence to engage potential candidates in meaningful conversations about their career aspirations resonated deeply with my personal ethos. Moreover, the commitment to continuous improvement, evidenced by the refinement of performance evaluation criteria and the emphasis on cultural fit and retention strategies, aligned closely with my professional values,” adds Navin.

Embracing A Holistic Approach to Talent Management 

Characterised by advocacy, support, and a relentless pursuit of excellence, Navin was motivated to join 360 ONE to contribute to building a team that embodies purpose, passion, and pride, driving exceptional results for clients in India’s dynamic wealth ecosystem.

A skilled and engaged workforce is a company’s most valuable asset. Effective talent management ensures you have the right people in the right roles equipped with the skills and motivation to drive strategic objectives.

Believing in this motto, 360 ONE emerged as one of India’s leading wealth and alternates-focused management companies. Navin shares the guiding philosophy that propels the organisation to success: “To begin with, let me provide a brief overview. 360 ONE Wealth is a part of the 360 ONE group, formerly known as IIFL Wealth & Asset Management. Our new brand reaffirms our commitment to delivering innovation, dedication, quality, integrity, scale, and excellence to our clients.”

As a premier wealth and alternatives-focused asset firm in India, 360 ONE manages more than $56.3 billion in assets for over 7,200 ultra-high-net-worth (UHNW) and high-net-worth (HNW) families.

Transforming the World of Wealth Management

360 ONE isn’t merely a financial institution. Navin says the firm aspires to be a forward-looking enterprise that aims to redefine wealth management in India and globally. “By emphasising digital innovation and tailored client services, we are equipped to meet the needs of the growing segment of tech-savvy high-net-worth individuals (HNIs) seeking sophisticated financial advice.”

At 360 ONE, Navin’s role transcends conventional HR functions. He and his proficient team function as business enablers, aligning talent management with strategic initiatives to foster growth, innovation, and a culture of continuous learning. That philosophy has propelled the organisation’s success.

Redefining Wealth Management through Talent Excellence

The HR landscape is continually evolving. In today’s competitive market, attracting and retaining top talent gives your organisation a significant edge. This is where 360 ONE shines. According to Navin, to encapsulate the fundamental strengths essential for any wealth and asset management firm to thrive and expand in India, it’s crucial to prioritise several foundational elements tailored to the industry’s evolving landscape.

First and foremost, attracting and nurturing talent that embodies purpose, passion, and pride is paramount. This ensures a skilled workforce deeply aligned with the firm’s vision and the dynamic needs of the wealth and asset management ecosystem. “At 360 ONE, we prioritise equality, diversity, inclusion, and empowerment, fostering continuous innovation in the workplace. We take pride in exceeding diversity benchmarks in the BFSI industry by 10%.”

Leveraging a vast network to engage in meaningful dialogues with potential talent is fundamental. Creating an environment where mutual aspirations converge ensures the talent pool not only excels in their roles but also aligns culturally with the firm’s ethos, crucial in India’s competitive landscape.

Driving Digital Transformation in Wealth Management

Addressing challenges and seizing opportunities, especially in mature overseas markets like Singapore and Dubai, requires a multifaceted approach. Initiatives tapping into university talent, integrating young professionals through rotational programs, and cultivating a digital-savvy generational talent pool are critical for bridging gaps and meeting diverse client needs. Emphasising a ‘Performance Plus’ philosophy, where growth, resilience, and agility are rewarded, is crucial. Shifting from traditional revenue-based incentives to celebrating behaviour that contributes to firm and client success marks a significant evolution in performance measurement.

Furthermore, digital transformation in wealth management is paramount. Investing in digital literacy, enhancing client engagement, and adapting strategies to rapidly changing client and employee needs are imperative for leading in this space.

Looking ahead, the next decade presents unprecedented growth opportunities for private wealth management in India. Economic vibrancy and entrepreneurial spirit create fertile ground for innovation and expansion. To capitalise on these opportunities, a focus on digital proficiency, robust client engagement, and fostering a culture of empathy and continuous learning will be essential. These pillars collectively drive growth and inspire a new wave of talent, shaping India’s evolving narrative of wealth management.

A Uniquely Influential Leadership

Navin’s leadership fosters an inclusive environment where employees feel valued and motivated. By prioritising transparent communication and actively engaging with team members, he ensures that everyone is aligned with the company’s vision and goals. Shedding light on his approach to leadership and team building within the organisation, Navin says, “Initially, our firm’s well-established presence and impeccable reputation provide a solid foundation.” However, in the current landscape, attracting and retaining top talent in wealth management presents challenges due to the myriad options available to high-calibre professionals within India’s finance sector. “At 360 ONE, our strategy revolves around leveraging our unique circle of influence, encompassing our extensive network and the robust platform we’ve cultivated.” This network not only aids in identifying potential candidates but also facilitates engaging them in meaningful discussions regarding their career aspirations and how they align with the company’s offerings.

In response to industry dynamics, they’ve refined their performance evaluation criteria to prioritise growth, resilience, and agility, says Navin. “This includes recognising behaviours that contribute to delivering added value for clients and the firm, aligning incentives with our overarching objectives of maintaining a quality business, annual recurring revenue, and advisory excellence.”

Cultural fit is paramount. After all, onboarding an individual is just the beginning of their journey with an organisation. Retention, particularly of high performers, is addressed through a comprehensive strategy encompassing continuous engagement, acknowledgement, and resolution of their needs and providing clear pathways for career progression. Navin adds that their management approach emphasises advocacy and support over hierarchy, ensuring their team feels valued and understood. This holistic talent management approach has been instrumental in not only attracting but also retaining top talent in the industry.

Thus, their approach to leadership and team building focuses on hiring individuals embodying purpose, passion, and pride. These qualities are deemed essential for navigating the complexities of India’s wealth ecosystem. “By fostering ongoing dialogue and ensuring cultural alignment, we aim to build a team that resonates with our core values and is driven by a resolute commitment to delivering exceptional results for our clients,” says Navin.

Excelling at Innovation

He further explains that 360 ONE recognises that the future of HR transformation hinges on innovation, disruption, and elevating the end-user experience. “We strike a delicate balance between operational efficiency and customer satisfaction through several strategic approaches. We prioritise continuous improvement, regularly evaluating and refining our processes to ensure optimal efficiency without compromising service quality.”

Technology integration plays a crucial role, as they invest in cutting-edge HR solutions to automate tasks and provide a seamless experience for both employees and clients. Additionally, they strongly emphasise employee empowerment, understanding that engaged employees contribute significantly to client satisfaction. “Our client-centric approach ensures that every decision and improvement is evaluated based on its impact on the overall client experience,” Navin adds. “We remain agile and adaptable, ready to pivot our strategies to address emerging challenges while keeping client satisfaction at the forefront of our HR transformation efforts.”

Decoding Digital Dimensions

360 ONE also understands the pivotal role that digitisation and technological advancements play in shaping the modern HR ecosystem, says Navin. “We have integrated these principles into our core functioning in several ways to contribute to a ‘technovative’ future. Firstly, we have adopted cutting-edge HR technology solutions to streamline our processes, enhance efficiency, and improve the overall employee experience.”

From tech-based recruitment platform, digitally enabled LXP, full spectrum integrated Equity compensation platform to advanced analytics for talent management, technology is at the forefront of their HR operations. Additionally, they prioritise digital communication channels to foster seamless collaboration and engagement among their workforce, regardless of their geographical locations.

Furthermore, Navin says he and his team embrace innovative tools and platforms for learning and development, providing their employees with opportunities to upskill and stay abreast of industry trends. By continuously investing in digitisation and technological advancements, they aim to optimise their HR practices, drive innovation, and contribute to shaping the future of work in a technologically driven landscape.

Shining Stars of the 360 ONE Cosmos

The company has achieved remarkable success. Navin shares that 360 ONE’s Service and Operational Excellence Programme has empowered their service and operations teams and achieved measurable benefits. This includes significant cost savings and heightened employee motivation, focusing on sustaining momentum and diversifying into technology and sales training for future readiness. The Learning Program served as a conduit to translate 360 ONE’s purpose of ‘Performance Plus’ into action, empowering employees to embody the brand ethos in every client interaction.

Our market-leading wealth advisory model and comprehensive alternates platform, coupled with our exceptional human capital completely aligned with our clients’ interests is a testament to our organisation’s commitment to innovation and excellence,” says Navin. Their continued focus on the Annual Recurring Revenue (ARR) business model has solidified their position as industry leaders in ARR assets under management (AUM).

The workforce is the cornerstone of every successful organisation. Navin says they foster a culture of growth, skill development, and empowerment among their employees. In the current landscape, organisations face volatility and uncertainty, necessitating leaders who can navigate any situation effectively. These leaders must possess the following qualities:

  • An inclusive mindset, digital awareness, and resilience.
  • Self-awareness, alignment with purpose, awareness of biases, integrity, and humility.
  • Development of sustainable strategies considering all stakeholders, including vision, critical thinking, creativity, insight, and prioritisation.
  • Creating a fulfilling and energising experience for people within the organisation, focusing on diversity, care, active listening, alignment, recognition, celebration, and development.

Strategic leadership fosters a culture of growth, skill development, and empowerment among employees.

The Strong Bonds of the 360 ONE Family

Challenges are a part and parcel of every successful company’s journey. Sharing an instance where his team’s resilience and ingenuity triumphed over adversity, Navin says the COVID and post-COVID scenarios were challenging. “With no playbook in hand, we drew on the strength and support of our people to navigate through these unprecedented times. Technology was integral to our client’s journey and became a fulcrum for growth. We came together to collectively support each other, envisage solutions, and embrace new ways of working and interacting. The 360 ONE family demonstrated immense resilience to support our clients with advice, product innovation and the required agility and achieved strong performance across financial and other metrics.”

Navin further agrees that the COVID-19 pandemic and geopolitical scenarios have reshaped industries globally, introducing unprecedented uncertainty. “At 360 ONE, we have proactively developed contingency plans to address similar uncertain events in the future,” he adds.

Firstly, they have established robust communication channels, to swiftly disseminate critical information to employees and stakeholders, ensuring transparency and clarity. “By prioritising agility, resilience, and forward-thinking, we aim to navigate uncertain events effectively and safeguard the interests of our company and stakeholders,” he assures.

A Novel Message

Navin encourages young leaders to ignite their entrepreneurial spirit. And for aspiring entrepreneurs entering the startup space, his advice is succinct:

  • craft a solid business plan, assemble a talented team, and prioritise customer satisfaction.
  • Stay innovative, resilient, and open to mentorship and networking opportunities.
  • Manage finances wisely and maintain ethical practices.
  • Above all, remain committed to your vision despite challenges, as perseverance is key to success in the dynamic world of entrepreneurship.

At the Forefront of Digital Disruption in Wealth Management

According to Navin, the wealth management industry is undergoing significant transformation due to digital disruption. Looking ahead, he divulges his and his team’s vision: “At 360 ONE, we’re fully embracing this paradigm shift. Our approach involves constructing a robust digital platform tailored to the preferences of the new generation of clients we serve. Concurrently, we’re committed to empowering our team with the necessary skills and expertise to thrive in this dynamic landscape.”

Central to their strategy is implementing comprehensive training initiatives covering emerging technologies such as artificial intelligence and machine learning. Navin adds that their goal is not only to ensure proficiency in utilising these tools but also to cultivate a deep understanding of how they can enhance their service offerings.

Beyond technical proficiency, they recognise the importance of fostering digital literacy and acumen among their staff. Through targeted investment in educational programs, they aim to instil a profound understanding of digital platforms and their potential for enhancing client engagement and service delivery.

By integrating digital training into our overall developmental framework, we’re preparing our team to be growth-focused and future-ready” concludes Navin. “We’re committed to equipping them with the innovation and expertise needed to adapt to the evolving needs of our clients effectively.”