HTD Model for Your Top-Notch in the Grand Prix

The BFSI landscape is evolving. The competition is high as there is a transformational shift in the way things function within the sector. The NBFCs (Non-banking finance companies) are in an all-time push toward the BFSI’s Grand-Prix. This is due to the introduction of newer technologies, upgraded digital services and innovation in products, inclusive financialisation,  expanding distribution, increase in customer awareness and rising per capita income. With all these changes, the NBFCs have to prove their worth by having a (top-notch) crew of technical experts in their workforce.

Imagine you have the best car in the world with the best accessories in it and the best, experienced driver. You want to stay ahead of your competition and win the Grand Prix of your F1 race. But you still fail. Have you ever imagined the importance of mechanics in an F1 race for groundbreaking world-class records? It’s time, efficiency, coordination and skill that bring you the top-notch. In the crew.

To assist you with this, corporate giants have started implementing and adopting the time-tested staffing model –  the Hire-Train Deploy (HTD) Model for employees and for workforce management. 

In this context, The BFSI sector is like the organiser of the Grand Prix and the NBFC is a major participant competitor in the F1 race. Your Ferrari F1-75 is the best product/ service you have, taken ahead by your financial adviser (experienced driver). But you do not have the best, the top-notch mechanics in your crew (hired-trained-deployed workforce) during your race. Despite having the other things in line, you don’t stand out. The choice is yours to make, the result is yours to expect. If you have your best in the crew, which is hired, trained and deployed with the best skills, they will help your car, your driver and your company to win in your business and break past records as well.

To have a good employee hired, and a properly trained employee, with an updated skill set, and efficiency, being deployed to your company at the right time, is a critical move. Smart staffing solutions based on the HTD model is a boon for you, especially after the pandemic and when you are on the onset of Q2 FY23.

What is the HTD model?

Sourcing, Evaluation, Training, Deployment & Governance is the chain of levels utilised for the HTD model to bring out the top-notch.

• Sourcing – The sourcing of candidates is done from an open Market with a Virtual bench. The candidates are shortlisted with the large internal database and networked colleges are also closely monitored for the first round.
• Evaluation – Role match & Screening is conducted at the very first stage of the process. These assessments are based on the Skill/Domain that the client suggests. HR and C&B Validation also take place. A formally structured interview is next to identify the right resources.
• Training – The training phase of this program concentrated on both technical & soft skill aspects. The assessments are conducted in regular intervals to identify the learning. The candidates are awarded certificates.
• Deployment – The deployment process is managed by the Applicant Tracking System (ATS) to issue offers. The documentation of the candidates selected is done followed by induction and onboarding. The Background verification also takes place.
• Governance – Post-deployment activities are carried out with the candidates. Employee connections and periodic town halls are being conducted. Initiatives are taken for creating awareness to ensure retention.

What are the challenges?

• • Shortage of skilled talent in BFSI Sector
  • Freshers not trained in BFSI practices 
  • Local language skilled graduates hiring across India
  • Lack of employability skills 
  • Lack of Formalisation
  • Lack of digital monitoring