Identifying and Measuring Important Elements of Employee Engagement: A Study of Mufin Finance

Abstract

Mufin Finance as a group provides a financial ecosystem to its various stakeholders. It consists of 4 sub holdings: APM Finvest (NBFC focusing on EV financing), BimaPay (Insurance premium financing), RupeeCircle (P2P lending), and Mufin Pay (upcoming payment gateway). Employee engagement is the strength of the mental and emotional connection employees feel toward the work they do, their teams, and their organization. Disengaged employees are more inclined to accomplish the bare minimum to get by while engaged employees are more involved and work harder. This is true for businesses in a variety of industries, such as healthcare facilities or NBFCs. Employee engagement not only helps in increasing the productivity of employees but also helps in retaining employees, reducing absenteeism, increasing productivity, and decreasing burnout of employees with better mental health. The report starts with an overview of the objective and purpose, i.e., identifying the elements of employee engagement, explaining why employee engagement is very crucial for Non-Banking Financial Companies in India particularly, and how gender may be having an impact on the level of employee engagement within employees. Then there's the literature review chapter, which lists all of the research papers and articles that have been read in preparation for the report. Then a questionnaire has been prepared based on the research papers study and the needs of the organization. The questionnaire has been properly analyzed using SPSS, the statistical tool that has been used is one-way ANOVA analysis and it has been concluded that there is no difference between males and females in their employee engagement level based on their roles and responsibilities, company strategy/mission and personal growth dimension but for leadership dimension, there is a significant deviation between males and females’ respondents and because of high mean value in males with less standard deviation they are better engaged in terms of leadership as compared to females. Therefore, there is a difference between males and females in their employee engagement level based on leadership through both the genders responded positively but males were more engaged with their leaders.