HR City

Daya Makwana
Daya Makwana
HR Team,Fundtech
India Ltd.
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 framework,.

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 finalising 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

Biggest Pain Point

How to keep the new generation constantly motivated & in high spirits? It is a challenge to keep them fully engaged, given the low tolerance level while facing challenges of work life. In short they are prone to feel easily frustrated. The challenge is to prepare them to accept smaller set back in life in order to achieve broader higher goals. Theyll put in more than a full days work alright, but just how to get them to give you the discretionary effort required for high performance.

Different Qualities looking while hiring people

Right type of attitude towards work, talent, cultural fit. Skill, these days has anyway become of paramount importance.

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 anlyse the events/situations critically, acquire newer skills, discuss as the objective is to groom each one to be a business leader.

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 roles

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 learning

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.

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.
The 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

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