HR Strategies in Place in your Company
Fundtech is a leading provider of financial technology to banks and
corporations of all sizes in the Americas, EMEA, and Asia-Pacific. It
was founded in 1993 and was publicly traded on NASDAQ until November
2011, when GTCR, a leading private equity firm, acquired the company.
The company develops transaction banking systems. In India, Fundtech has
its presence in Pune. It has the development & Offshore service
centre as part of India-Pune Office
Fundtechs most treasured resource
is Human capital. It has young vibrant workforce with an average age of
about 30 years. To attract and retain this young, Gen Y generation and
keeping them motivated, Fundtech lays high focus on an attractive
employee referral scheme, creation of employee advance opportunities
through a culture of learning, ensuring a culture of work life balance,
excellent people-focussed work environment through right type of policy
Today trends seen in HR
Increasing need for HR professionals to align with business goals, to become Tech savvy, HR networking too is on new high.
Difficulties in Planning Human Resource in an ever changing business
Tough time never lasts but tough people do. There is a constant need to
scan the market for talent. Whats new ? is the key word in terms of
attracting & retaining Gen Y. One has to constantly generate new
ideas to keep pace with competitive market. There is a fierce fight for
talent, extremely low employability of fresh engineering graduates is a
matter of concern. Hence planning also includes huge budget allocations
to groom these graduates to be productive.
HR Relationship with the CEO
HR functions reports directly to CEO. He is a thought leader while finalizing HR strategies along with HR Head. A right HR strategy will
succeed only when it is also backed up by the CEO. To that extent a CEO
also has to be an excellent HR professional.
Different Qualities looking while hiring people
Right type of attitude towards work, talent, cultural fit. Skill, these days has anyway become of paramount importance.
Engaging Gen Y - Leadership and Organization Culture
Engaging Gen Y is to empower them to take decisions, allow them to lead,
put them into different situations & get them into insightful
Some of the leadership development programs being held & results obtained
We conduct a Business meet for our top 2 management levels every
quarter. Each of these meets has innovative design & is structured
to groom the leaders for tomorrow. The topics discussed are usually
peripheral to the core business of the company and prompt them to go out
of the normal day-to-day business and take cognizance of the happenings
around and analyses the events/situations critically, acquire newer
skills, discuss as the objective is to groom each one to be a business
Identifying Leaders promoting them to the next level
The Nature of work and responsibilities given to the employees at
various levels puts their abilities to test. Employees displaying right
attitudes and competencies are identified and picked and given right
opportunities. Learning opportunities provided to the employees ensure
that they get right type of inputs from the organisation for growth.
There are various forums (formal/informal) that help employees
understand various soft skills and prepare them to handle leadership
Recruiting & retaining the diverse and ambitious Generation Y. Are they really ambitious
Catch them young – so we visit campus from different regions of India.
We try & encourage their "can-do" attitude, and engage them in
activities which will help to develop their positive personal
self-image. We capitalize on their affinity for networking and use
internet, networking sites to connect.
Attrition Management: Retaining vs. fresh hiring
Well, it is always good to have home grown talent of the campus joinees
who mature in Fundtech way of doing things. They keep the Fundtech
culture alive & vibrant, bring in lot of energy & new trends. At
the same, laterals come with rich diverse industry experience from
outside and prudence that goes with it. An ideal mix of both will help
an organisation to manage attrition.
How to attract good people, retain the better people and advance the best people
Good people follow good leaders. One has to be a role model, a thought
leader to attract good people, the in-built strong policies &
processes will further help to attract & retain people. Friendly
work culture, understanding people psyche & providing the right,
timely, situation based solutions will help to retain the better people.
work culture has to be inspiring, comforting and at the same sometimes
challenging. It has to be a proper mix to provide perfect ground for
people to advance with high energy level without getting frustrated.
Advice/ suggestions to fellow HRs
Constantly challenge the status quo, through creative ideas, never be in comfort zone.