PPFAS Mutual Fund defines ROX at the workplace and home

Brand Stories/ HT Brand Studio

Today’s customer has more choices than ever before. The switch to online has brought the world to your fingertips and businesses have had to undergo significant transformation to stay afloat and thrive. Even for sectors like Banking and Financial Services (BFSI), where businesses were traditionally judged by the kind of investment products businesses offered and the returns that these brought, today’s customers are looking for more. Now, it is about delivering exceptional customer experiences and offering a Return on Experience (ROX), not just a Return on Investment (ROI). 

Today’s customers are not just looking for what returns you can make for them and the product offerings that you bring to the table. They are seeking an overall experience, which goes on to build trust between them and the business. In a special series, called Life’s True Value, Neil Parag Parikh, Chairman and Chief Executive Officer, PPFAS Mutual Fund, spoke about how ROX has become a critical consideration for top executives like him, whether it is in it professional lives, or even when they become clients for other businesses in their personal lives. A C-suite professional, Parikh brings over a decade of experience in capital markets, spanning wealth management, research, institutional desk, marketing, operations, broking and key client management.

“Today, you have to have a large army of customer service people who are on the money all the time to make sure that the experience doesn’t drop. Because once the experience drops, the trust goes. Once the trust goes, they will probably not be investing with you. So other than the investment experience, which is about fund management and making returns, these are very important aspects,” he said.

At PPFAS Mutual Fund, they deal with people’s money, making trust all the more important. “When we are dealing with people’s money, it is all about trust. So two things happen –  one is the need for clear and transparent communication so that there is no reason left for doubt. Also, when you are buying a financial product, it is not like buying clothes or shoes or something where you pay money and get something tangible in return. There could be times when you give your money or just invest it into something like the units of the mutual fund, but there is a delay in the transaction due to some market intermediaries in the middle like stock exchanges, payment gateways, or the registrar. Customer service becomes even more important in such cases. It is a big, big focus area going forward,” he further said. 
Parikh also spoke about the workplace and inculcating a culture of work-life balance so as to get the best from his team. He feels spending time with family, having hobbies, and doing things you enjoy helps in giving you 100 per cent when you are at work. He feels fortunate to be in the minority of top leaders who don’t feel stressed.

“If your core team also has the same shared values and the same fundamentals as you, and a long term approach to things, then collaboration becomes fun. Luckily, we have built that and this makes us work very nicely together. And, again, one thing we say is that you need to spend as much time at home with your family, have hobbies, and do things that you enjoy. It is something we encourage, and I do that myself. I try not to see my laptop from Friday evening to Monday morning,” he said.

In his free time, he enjoys playing and watching golf and tennis and spending time with his young daughters. Parikh feels that if your living space is good, your work productivity amplifies because you have had a great time at home. Spending time with your family and doing things that you enjoy actually makes you come with a smile on your face the next day to work. 

“In fact, we are encouraging that everyone should take some time out to spend time with their family, do what they like doing, and come back happy to work. And even at work, we have a very open culture, where everyone can approach me if they want. There is no hierarchical system to get in touch with the seniors. We foster a lot of conversation, and collaboration within the team, within different teams, and that actually increases productivity. We try to do a lot of stuff outside the office too like cricket tournaments, retreats, where bonding outside of work becomes stronger within the work,” Parikh said.

He spends a lot of quality time with his family and strongly feels that the home is much more than just a place where you rest and sleep. A comfortable living space can enhance your productivity in the office. The importance of a good home was underlined during the pandemic when the living space also became the workspace. A lot of organisations have done away with the five-day working week. As a result, a majority of professionals have a space earmarked for work in their homes. There has also been a growing trend to expand the home, either by moving into a bigger space or adding an additional bedroom. 

He spoke about how it is important that his home also offers the right ROX. “For me, Return on Experience is contentment and happiness. Any experience that can make you happier or more content with your life or make you slightly better than what you were before is a great experience. That’s exactly how I would define an experience. When it comes to luxury living space, there’s a very big experiential value to it. Today, everything has become experiential. People want experiential travel. They want to jump out of a plane. And it is the same with luxury homes,” he said. 

Talking about his home, where he lives with his wife and two young daughters, he said: “It is beautiful here. We live in Mumbai where living spaces are not that big. I have got two young daughters, so what I want is a lot of empty space in my living room. We have done away with a lot of furniture, and just have empty space so we can run around and just have fun there.” 

The home becomes all the more important for families with children and the pandemic has brought about a change in the way people think about the home. During the pandemic, families with children who didn’t live in large community spaces felt their children were devoid of company and had no activities. On the other hand, those living in luxury buildings could offer their children a lot of opportunity to socialise and be around other children to play with and learn from. 

“These kids did not forget how to socialise. Also, the fact that they had so many classes for the children, and they were never getting bored, and the parents had enough time to concentrate on work. You can stay together in a community of like-minded people and experience luxury and also network with people. Amenities obviously matter, and how those amenities are would be important too,” he further said. So, having the right facilities and like-minded people around is what defines ROX at home for Parikh. One such space which offers a true ROX in the heart of Mumbai is 25 South.

To live a serene life like Parikh does, you could choose a condominium like 25 South which offers a true return on experience.   

Disclaimer: This article has been produced on behalf of the brand by HT Brand Studio.