Hitachi Payment Services, a pivotal player in India’s burgeoning payment solutions landscape, has announced the elevation of Manoaj Kassturia to the prestigious position of Vice President – HR. This promotion underscores Kassturia’s exceptional contributions and extensive experience in human resources, spanning over two and a half decades across diverse industries. In his newly expanded capacity, Mr. Kassturia will be tasked with spearheading the company’s comprehensive people strategy, a critical mandate as Hitachi Payment Services continues its trajectory of innovation and expansion within the highly competitive digital payments ecosystem. His mandate will encompass talent acquisition, retention, development, fostering a robust organizational culture, and ensuring that human capital initiatives are strategically aligned with the company’s business objectives.
A Distinguished Career Spanning Over Two Decades
Manoaj Kassturia’s professional journey is a testament to sustained growth, strategic insight, and a profound understanding of human capital management. With a career commencing in 1999, he has meticulously built a repertoire of expertise across various facets of HR, gaining invaluable exposure in sectors such as finance, insurance, asset management, stockbroking, legal services, and most recently, the dynamic payments industry. This diverse background has equipped him with a holistic perspective on talent management, organizational development, and the critical role HR plays in driving business success. His consistent upward trajectory across prominent organizations reflects a commitment to excellence and a strategic approach to human resources.
Academic Foundations and Early Career Trajectory
Mr. Kassturia laid a strong academic foundation for his distinguished career. He is a Commerce graduate from the esteemed University of Mumbai, a qualification that provided him with a solid understanding of business principles and financial operations. Further enhancing his expertise, he pursued and completed his post-graduate studies at SVKM’s Narsee Monjee Institute of Management Studies (NMIMS), a highly respected institution known for its rigorous management programs. This dual academic background in commerce and management equipped him with both the theoretical knowledge and practical frameworks essential for a career in human resources, particularly within financially-oriented sectors.
His professional journey commenced in 1999 at Tata Finance, a prominent financial services company at the time. Joining as a Senior HR Executive, he gained foundational experience in core HR functions, including recruitment, employee relations, payroll management, and policy implementation. This initial role provided him with critical hands-on experience in a large, diversified organization, setting the stage for future leadership positions. After two years, in 2001, he transitioned to Kotak Life Insurance, where he continued to hone his skills in a similar capacity, contributing to the establishment and refinement of HR processes within the nascent private life insurance sector in India. These early roles were crucial in shaping his understanding of organizational dynamics and the intricacies of managing human capital in regulated environments.
Strategic Roles Across Diverse Financial Sectors
In 2003, Manoaj Kassturia made a significant move to Tata Mutual Fund, assuming the role of HR Manager. This marked an important step in his career, taking on increased responsibility for strategic HR initiatives within the asset management industry. During his tenure, he played a key role in talent management, performance appraisal systems, and fostering a high-performance culture. His experience here underscored the unique HR challenges and opportunities present in the financial services sector, particularly in managing specialized talent in investment management and client servicing.
His career continued its upward trajectory, and after two and a half years at Tata Mutual Fund, he moved to Networth Stock Broking in 2006, where he was appointed General Manager – HR. In this elevated role, he was responsible for the entire gamut of HR operations, strategic human resource planning, and contributing to the overall organizational strategy during a period of significant growth and liberalization in the Indian stock market. This role further broadened his leadership experience and strategic decision-making capabilities.
December 2007 marked his return to the Tata Group, joining Tata Capital Forex as Assistant Vice President – HR. This role saw him delving deeper into specialized financial services, focusing on the unique HR requirements of the foreign exchange sector. Over the course of more than seven years in this organization, his dedication and strategic contributions were recognized, leading to his promotion to Business HR Head (AVP-HR). In this capacity, he was instrumental in aligning HR strategies with specific business unit objectives, fostering talent development, and ensuring robust HR support for various operational verticals within Tata Capital Forex. His long tenure here provided him with deep insights into organizational development and the complexities of managing human resources within a dynamic, regulated financial entity.
In June 2015, Mr. Kassturia transitioned to Khaitan & Co., a leading Indian law firm. For the subsequent three years, he held a dual mandate, serving as Business HR for shared functions and concurrently leading HR operations, with a particular focus on the complete digitization of the HR function. This period was pivotal, as it exposed him to the unique talent management challenges within the professional services sector and provided him with hands-on experience in leveraging technology to streamline and enhance HR processes. His work on HR digitization at Khaitan & Co. foreshadowed his later strategic contributions at Hitachi Payment Services.
He briefly returned to Tata Mutual Fund as AVP-HR from 2018 to 2019, reinforcing his expertise in the asset management space. Following a short but impactful foray into HR consultancy, which further diversified his understanding of various organizational contexts and strategic interventions, Mr. Kassturia began his association with Hitachi Payment Services.
Pivotal Role in HR Digitization at Hitachi Payment Services
Manoaj Kassturia joined Hitachi Payment Services in April 2021 as Assistant Vice President – Human Resources. From the outset, his mandate was clear and strategic: to drive the digitization of the end-to-end employee lifecycle and establish paperless HR processes. This initiative was critical for Hitachi Payment Services, a technology-driven company operating in a rapidly evolving digital payment landscape, where efficiency, data accuracy, and seamless employee experience are paramount.
His initial year at Hitachi Payment Services was marked by significant progress in these areas. Recognizing his strategic contributions and leadership, he was promoted to Deputy Vice President – HR in April 2022. In this role, which he held for approximately two years and two months, he continued to refine and expand the company’s HR technology infrastructure, optimize HR service delivery, and enhance the overall employee experience through digital transformation. His efforts were instrumental in creating a more agile, data-driven, and employee-centric HR function, which is crucial for attracting and retaining top talent in the competitive fintech industry.
Now, in June 2024, his elevation to Vice President – HR signifies the company’s profound confidence in his vision, leadership, and ability to steer the human capital agenda for future growth. His journey within Hitachi Payment Services, from AVP to DVP and now VP, in just over three years, highlights the strategic importance of his work in HR digitization and overall talent management for the organization.
The Evolving Landscape of HR in India’s Digital Payments Sector
Mr. Kassturia’s promotion comes at a time when the role of human resources has never been more strategic, especially within the Indian digital payments sector. India’s digital payments market is experiencing exponential growth, driven by government initiatives like UPI, increasing smartphone penetration, and a burgeoning digital-native population. According to reports by the Reserve Bank of India and various industry bodies, digital payment transactions have surged year-on-year, positioning India as a global leader in this domain. This rapid expansion places immense pressure on companies like Hitachi Payment Services to innovate continuously, scale operations efficiently, and, crucially, manage a highly skilled and dynamic workforce.
In this context, the HR function transcends traditional administrative roles to become a core strategic partner. Key challenges and opportunities for HR leaders in this sector include:
- Talent Acquisition and Retention: The fintech and digital payments space is fiercely competitive for talent, particularly in niche areas like cybersecurity, data analytics, AI/ML, and payment gateway technologies. HR must develop aggressive strategies to attract and retain highly skilled professionals.
- Skill Development and Reskilling: With technology evolving rapidly, HR needs to implement robust learning and development programs to ensure the workforce remains future-ready and adaptable to new innovations.
- Culture and Engagement: Fostering an inclusive, innovative, and high-performance culture is vital for driving employee engagement and productivity, especially in hybrid work environments.
- HR Digitization and Analytics: Leveraging HR tech stacks, AI, and data analytics is no longer a luxury but a necessity for streamlining operations, enhancing employee experience, and providing data-driven insights to leadership.
- Diversity, Equity, and Inclusion (DE&I): Building diverse teams and ensuring equitable opportunities are crucial for innovation and reflective of the diverse customer base.
Manoaj Kassturia’s proven track record in HR digitization and his broad industry exposure make him exceptionally well-suited to navigate these complex challenges and capitalize on the opportunities for Hitachi Payment Services. His experience in establishing paperless HR processes and digitizing the employee lifecycle aligns perfectly with the demands of a modern, tech-forward organization.
Implications for Hitachi Payment Services and the Industry
The elevation of Manoaj Kassturia to Vice President – HR is expected to have several positive implications for Hitachi Payment Services and serves as a significant marker within the broader HR community.
For Hitachi Payment Services, his leadership will be instrumental in:
- Strengthening People Strategy: With his extensive experience, Mr. Kassturia is poised to develop and execute a robust people strategy that directly supports the company’s ambitious growth plans in the digital payments market. This includes optimizing talent pipelines, enhancing leadership development programs, and fostering a culture of innovation and agility.
- Accelerating HR Digital Transformation: Building on his previous successes, he will likely further accelerate the company’s HR digital transformation journey, ensuring that HR processes are efficient, data-driven, and provide a superior experience for all employees. This focus on technology will improve operational efficiency and provide strategic insights into workforce dynamics.
- Enhancing Employee Value Proposition: By focusing on the end-to-end employee lifecycle, Mr. Kassturia will be crucial in enhancing Hitachi Payment Services’ employer brand, making it an even more attractive workplace for top talent in the competitive fintech sector. This includes refining compensation and benefits, performance management, and career development frameworks.
- Fostering Organizational Resilience: In a rapidly changing industry, a strong HR leader like Mr. Kassturia can help build organizational resilience by developing adaptable workforces, managing change effectively, and ensuring employee well-being.
Industry observers suggest that this appointment underscores the increasing strategic importance placed on human resources within the technology and financial services sectors. Companies are recognizing that their competitive edge often lies in their ability to attract, develop, and retain the best talent. A seasoned HR leader with a clear mandate to drive people strategy is a critical asset for any organization aiming for sustained growth and market leadership.
A spokesperson for Hitachi Payment Services, while not providing a direct quote, indicated that the company is committed to investing in its human capital and that Mr. Kassturia’s promotion reflects the significant value placed on strategic HR leadership in achieving its long-term objectives. The company’s decision highlights a forward-thinking approach to managing its most valuable asset: its people.
In conclusion, Manoaj Kassturia’s elevation to Vice President – HR at Hitachi Payment Services is a well-deserved recognition of his 25 years of diverse and impactful experience. His leadership is expected to significantly bolster the company’s human capital strategy, aligning it with the dynamic demands of the Indian digital payments market and ensuring that Hitachi Payment Services continues to thrive through its most valuable asset – its people. The HR community, particularly those navigating the complexities of fintech, will undoubtedly watch his continued contributions with keen interest.
