Bandana Sharma Shiwakoti serves as the Head of Human Resources at Nepal Life Insurance, where she spearheads the development and execution of HR strategies designed to fuel business growth. Her leadership focuses on talent and leadership development, alongside organisational and performance management. As a staunch advocate for human capital, she empowers employees to continuously refine their skills and capabilities to meet organisational objectives.
Shiwakoti holds an MBA in HR from Sikkim Manipal University and a Bachelor’s degree from St. Mary’s College in Shillong, India. With over a decade of professional experience, her background includes senior roles such as Head of HR and Head of Training & Development within the banking sector. The HRM recently sat down with Shiwakoti to discuss the HR strategies, practices, and innovations shaping her field. Excerpts from that interview follow.
Q: Could you briefly tell us about your journey in the HR profession?
A: My journey in the HR profession began at a time when Human Resources was not a very common career choice, and MBA in HR was still a relatively new and emerging discipline. While exploring my academic options, one of my cousins introduced me to the scope of the HR programme and guided me on the opportunity to pursue the course at Sikkim Manipal University, one of the renowned universities in India. This exposure sparked my interest in people management and organisational development, leading me to formally enter the HR field.
I began my career in the banking and financial services sector, where I was involved in setting up core HR systems and ensuring regulatory compliance. Over the years, my role evolved from operational HR to strategic leadership, allowing me to contribute at the policy and organisational development level. With over 14 years of experience across insurance, banking, and financial institutions, my journey has been driven by a passion for building strong HR frameworks, developing talent, and aligning people strategies with organisational goals.
Q: What inspired you to become an HR professional?
A: What inspired me to become an HR professional was my natural interest in understanding people and how workplaces function beyond just roles and titles. When I pursued my MBA in Human Resources – at a time when the subject itself was still quite new – the course helped me see HR as much more than an administrative function. Learning from faculty members associated with institutions like XLRI and IIM was especially impactful, as they brought real-world perspectives that highlighted the true value of HR in shaping culture, trust, and long-term organisational success.
As I stepped into my career in banking and insurance, those early lessons stayed with me. Seeing how thoughtful HR practices could support employees, resolve challenges, and help organisations grow only strengthened my belief that HR plays a critical role – something that was true then and continues to hold true today. This continuous learning and real-world application have reinforced my passion for HR, motivating me to build people-centric, performance-driven frameworks that support sustainable organisational growth.
Q: Do you believe HR should be assigned a strategic role encompassing workforce planning, HR auditing, and succession planning, in addition to its functional-level responsibilities?
A: Certainly yes. HR must be given a strategic role in workforce planning, HR audits, and succession planning, along with its functional responsibilities, because at its core, HR has always been about people – how we support them, guide them, and walk alongside them through change and growth. These strategic areas allow HR to move beyond administration and actively shape the organisation’s future. At Nepal Life Insurance, we practice this integrated approach by involving HR in forward-looking workforce planning, regular HR audits to strengthen governance and compliance, and structured succession planning to ensure leadership continuity. By doing so, HR plays a vital handholding role – not just as a department, but as a strategic partner to both employees and management. This approach enables us to anticipate talent needs, build internal capabilities, address challenges proactively, and create a supportive, performance-driven culture that aligns people aspirations with organisational goals.
Q: How would you evaluate the current state of HRM practices within corporate entities, particularly those operating in regulated sectors such as insurance?
A: HRM practices in corporates, particularly in highly regulated sectors such as insurance, are clearly evolving and becoming more structured and process-driven. There has been significant progress in areas like policy standardisation, compliance, performance management, and employee engagement. However, as a sector, there are still many areas where focused effort is required. These include strengthening strategic workforce planning, enhancing leadership development and succession readiness, leveraging HR technology and analytics more effectively, and creating more agile learning and development frameworks.
Given the regulatory environment, HR must continue to balance compliance with people-centric practices, ensuring that organisations not only meet regulatory expectations but also invest in building capable, motivated, and future-ready talent. As the sector matures, HR has an important role to play in driving this transformation in a more strategic and collaborative manner.
Q: Drawing from your career as an HR professional, could you reflect on the most significant milestones achieved by your department under your leadership?
A: Looking back at my journey including the one at Nepal Life Insurance, what stands out the most are the moments where we’ve truly been able to support and empower our people. One of the milestones I’m proud of is fostering a KPI-driven culture. While KPIs help track performance, the real impact is in helping employees see how their daily efforts contribute to the bigger picture. It’s rewarding to see teams take ownership, feel motivated, and experience the satisfaction of their contributions making a real difference.
Our Learning & Development programmes have also been a highlight. Through initiatives like training programmes and the Leadership Associate Programme (LEAP), we’ve been able to nurture talent, build confidence, and create growth opportunities. It’s heartening to watch employees embrace learning, develop new skills, and grow into roles they might not have imagined for themselves.
Succession planning has been another meaningful journey. By identifying and mentoring high-potential employees, we not only prepare for the future but also make people feel valued and recognised. Knowing that someone believes in their potential inspires them to give their best.
Finally, our focus on employee engagement has truly brought our culture to life. Platforms like Business Excellence Conference (BEC), Province Meet, LEAP, and other internal events have created spaces for open dialogue, recognition, and connection. These initiatives help our people feel heard, appreciated, and part of Nepal Life’s mission.
At the end of the day, all our milestones boil down to one thing – creating an environment where people feel supported, motivated, and proud to contribute. That, for me, is the real measure of HR success. In essence, the milestones of our HR department are less about policies and more about creating an environment where people feel supported, inspired, and empowered to contribute their best.Bottom of Form
Q: In what ways do HR policies play a pivotal role in driving a company’s long-term sustainability and business growth?
A: HR is much more than a support function – it is a key change agent in achieving any company goal. At the heart of every successful initiative are people, and HR’s role is to enable, guide, and empower them to adapt, embrace, and drive change. Whether it’s introducing new systems, improving processes, or embedding a performance-driven culture, HR ensures that employees are aligned, equipped, and motivated to contribute meaningfully.
By designing policies, learning programmes, and engagement platforms that resonate with employees, HR creates the environment in which change is not just implemented but embraced. For instance, rolling out a new strategic initiative becomes effective only when people understand its purpose, feel supported to adopt it, and are recognised for their contributions.
In essence, HR acts as the bridge between strategy and execution. It transforms vision into action by nurturing talent, fostering adaptability, and ensuring that people – the true enablers of success – are fully engaged. When HR drives change thoughtfully, it accelerates progress toward company goals while building a resilient, sustainable, and people-centric culture.
Q: Given the recent advancements in HRM, what innovations are necessary to better address evolving employee expectations, such as ensuring Gen Z voices are authentically heard regardless of organisational hierarchy?
A: The workplace is changing rapidly, and HR needs to evolve to meet the expectations of today’s workforce, especially Gen Z employees. Unlike previous generations, they value being heard and engaged, regardless of hierarchy. Open communication channels, flat organisational structures, and opportunities for immediate feedback and recognition have become essential.
However, in the Nepali context, organisations face challenges such as limited resources, traditional hierarchical mindsets, and evolving workplace norms. HR innovation must therefore balance aspiration with practicality – fostering open dialogue and recognition within existing structures, gradually creating flatter teams, and building a culture of empowerment without disrupting operational stability.
HR innovation today is about creating a people-centric ecosystem where employees feel empowered, connected, and motivated. This includes transparent dialogue through platforms like townhalls or interactive forums, prompt recognition of achievements, and fostering collaboration across levels. Learning and growth opportunities, flexible work models, and a culture of inclusion are no longer perks – they’re expectations.
In short, modern HR must balance agility, empowerment, and ecosystem thinking to build workplaces where every employee – especially Gen Z – feels valued, motivated, and inspired to contribute to the company’s success.
Q: To what extent are you facing retention challenges, and would you say the primary drivers are hygiene factors or motivating factors?
A: Retention at Nepal Life is currently not a major challenge. Analysis of exit interviews indicates that most staff who have resigned did so to seek opportunities abroad, largely influenced by political instability and the limited professional ecosystem and growth opportunities in Nepal. However, post-exit, identifying and recruiting candidates with the right skill set remains a time-consuming and challenging task. These factors are influenced more by external conditions than by internal hygiene or motivating factors within the organisation.
Q: To what extent does your organisation utilise an HRMIS, and how adaptable is your approach when integrating new tools and innovative HRM methodologies?
A: Yes, we use an HRMIS and are open to introducing new tools and technologies. We actively explore platforms like Power BI to enhance data analytics and drive more informed HR decision-making.
Q: How does Nepal Life Insurance align key results with Key Performance Indicators, and is this integration managed through your HR software or via a separate mechanism?
A: At Nepal Life Insurance, key results are aligned with Key Performance Indicators through a combination of our HR processes and data analytics platforms. We primarily use tools like Power BI to track and monitor performance, especially in the sales function. Additionally, performance appraisals are conducted twice a year to ensure alignment with organisational goals and to provide structured feedback.
Q: Could you briefly describe any unique practices you have implemented to manage people effectively while ensuring the delivery of results?
A: At Nepal Life Insurance, managing people and delivering results go hand in hand, because we truly believe that people are at the core of our success. Over the years, we have consciously built structured yet empathetic HR practices that help employees feel supported, aligned, and motivated to perform.
Our recruitment, selection, and onboarding processes are designed not just to hire for skills, but to ensure cultural fit and long-term association. New employees are supported through structured onboarding and continuous handholding, helping them settle into their roles with clarity and confidence.
Performance management at Nepal Life Insurance is transparent and objective, with clearly defined goals, bi-annual appraisals, and data-driven performance tracking. This enables employees to understand expectations, track progress, and see a clear link between their efforts and organisational outcomes.
We invest significantly in learning and development, particularly in building leadership capabilities. Through structured L&D and leadership development programmes, employees are encouraged to grow, take ownership, and contribute more meaningfully to business results.
Employee engagement is strengthened through regular communication and inclusive platforms such as Monthly CEO Online interactions, which foster openness and connection, and the annual Business Excellence Conference, where strategy alignment and recognition come together.
Together, these practices create an environment where employees feel valued, heard, and empowered – allowing Nepal Life Insurance to consistently deliver strong and sustainable results.
Q: How are regulatory corporate governance requirements integrated and aligned within your HR strategies and practices?
A: At Nepal Life Insurance, we believe that strong governance and people management go hand in hand. Our HR practices ensure that every employee experience aligns with regulatory standards while fostering a culture of fairness, transparency, and accountability.
We have structured Employee By-laws that clearly outline roles, responsibilities, and organisational expectations. Every process – from recruitment and selection to performance appraisals and compensation – is designed to comply with the Insurance Board of Nepal’s regulations.
Upholding integrity is a key focus, and the company follows a zero-tolerance policy toward unethical practices, discrimination, or any behaviour that undermines trust. Our HR team works closely with compliance and audit functions, ensuring that governance principles are not just rules on paper, but a lived reality embedded in the way we manage, support, and engage our people.
Q: How frequently does your company conduct skill gap analyses or capacity need assessments to inform the delivery of developmental training and other skill-building initiatives?
A: At Nepal Life Insurance, we place a strong emphasis on continuous learning and skill development. We conduct periodic assessments, including surveys and performance reviews, to identify skill gaps and capacity needs across different functions. Based on these insights, we develop a structured annual training calendar through Training Needs Analysis (TNA), offering targeted interventions at regular intervals to cater to learning, upskilling, and reskilling needs. Our programmes include both virtual and physical learning opportunities, workshops, and development initiatives. These efforts not only enhance technical and leadership competencies but also drive improved efficiency, productivity, and overall organisational performance, ensuring our workforce is prepared to meet current challenges and future growth opportunities.
Q: What gaps have you identified among both employers and employees that hinder the creation of an enabling environment and the achievement of effective results?
A: Creating an enabling workplace that consistently drives effective results is an evolving journey for employers. Based on experience and continuous employee feedback, some common gaps emerge that organisations need to address more deliberately.
One key gap lies in aligning organisational structures with the changing expectations of the modern workforce. Employees today seek faster career progression, flexibility in work arrangements, and visible growth opportunities. Employers can respond by introducing clearer career pathways, role-based capability frameworks, and flexible yet accountable working models that balance productivity with employee well-being.
Another area for improvement is continuous capability building. Rapid changes in business models and digitalisation require ongoing upskilling and reskilling. Employers need to strengthen structured learning ecosystems, integrate digital learning platforms, and link learning outcomes directly with performance and career advancement.
While engagement initiatives exist in many organisations, there is often scope to deepen employee voice and participation. Creating more open communication platforms, encouraging cross-functional collaboration, and involving employees in problem-solving and decision-making foster ownership and accountability, which directly impact results.
From a systems and process perspective, employers can further enable performance by strengthening HR systems and people analytics. Robust data-driven tools support better workforce planning, performance tracking, and timely decision-making, enabling leaders to respond proactively rather than reactively.
At Nepal Life Insurance, bridging these gaps is viewed as a shared responsibility. The organisation continues to invest in policies, systems, learning opportunities, and an inclusive culture, while employees are encouraged to take ownership of their growth and performance. Together, this partnership creates a workplace that is empowering, agile, and focused on delivering sustainable results.
Q: How complex do you find the current talent acquisition landscape, and in your opinion, what are the most critical factors for enhancing recruitment effectiveness?
A: Acquiring talent from today’s job market has become increasingly complex due to intense competition, evolving skill requirements, and growing expectations of the workforce for rapid growth, flexibility, and purpose. This challenge is more pronounced in regulated sectors like life insurance, where role readiness, compliance awareness, and cultural alignment are equally critical.
In this context, assessing a candidate’s attitude becomes as important as evaluating technical competence. A positive attitude, ethical mindset, adaptability, and willingness to learn are key indicators of long-term association and sustainable performance. Skills can be developed over time, but attitude determines how well an individual aligns with organisational values and responds to change.
Recruitment becomes more effective when organisations focus on trustworthiness, learning orientation, and cultural fit, supported by proper handholding and counselling during the onboarding phase. Transparent communication, realistic role expectations, and involvement of line managers further strengthen retention and engagement. Ultimately, effective recruitment is not about immediate hiring success, but about building a committed workforce that grows with the organisation over the long term.
