Dvara KGFS Uses LMS Platform, To Track Employees' Training, Proficiency

The specific tools and technologies deployed may vary based on the type of assessment and the skills being evaluated

Ms. Huma Tariq, Chief Human Resource Officer, Dvara KGFS

Mehul Dani

Mumbai, March 7, 2024: Dvara KGFS, a systematically important NBFC in the Dvara Group regulated by RBI, works with a mission to maximize the financial well-being of every individual and every enterprise by providing complete access to financial services in remote rural India. Dvara KGFS has a strong presence in Tamil Nadu, Uttarakhand, Karnataka, Chhattisgarh, Jharkhand, and Odisha, spread across 48 Districts with 308 branches and more than 1.1 million enrolled customers. Ms. Huma Tariq, Chief Human Resource Officer, Dvara KGFS talks about its HR related polices & practises, in an exclusive interview with the FINTECH BIZNEWS website:            

Mehul Dani: What are the different types of tests conducted by your organization for new recruitment and promotion of existing employees in the current FY?

Huma Tariq: As a deeply rooted rural organization, we prioritize hiring individuals from our local communities who reflect the essence of our culture and values. During onboarding, we meticulously evaluate both competence and cultural fit. Additionally, in collaboration with Index Advisory, we conduct psychometric assessments to gain further insights into our employees' strengths and potential areas for development.

Furthermore, as part of our commitment to ensuring the integrity of our team, we perform comprehensive background verifications and assess individuals' financial discipline through CIBIL checks. Emphasizing our dedication to nurturing talent from within, we extend the first opportunity for advancement to our longstanding employees who have grown with us. Our approach to promoting Senior Wealth Managers is a testament to this ethos. Leveraging a blend of performance appraisals, future potential evaluations, competency assessments, and interviews, we ascertain their preparedness for assuming higher leadership responsibilities.

Which tools and technologies are deployed to measure and analyze the abilities of the respondents of these tests? 

Huma Tariq: For measuring and analyzing the abilities of respondents in these tests, we utilize various tools and technologies, including those provided by Index Advisory for customized aptitude and competency assessments. These tools help us evaluate different aspects of respondents' abilities, such as cognitive skills, emotional intelligence, and job-related competencies. The results are analyzed to identify strengths and areas for improvement, which inform our decisions regarding recruitment, promotion, and talent development.

The specific tools and technologies deployed may vary based on the type of assessment and the skills being evaluated. However, they are selected to ensure accuracy, reliability, and relevance to our organizational goals and values.

What are the policies and practices for hiring domain experts and senior executives for areas such as risk management, digital, analytics etc.?

Huma Tariq: Hiring practices are standardized across all positions within the organization. Our primary focus lies in establishing comprehensive job descriptions, detailing the requisite competencies essential for each role. This initial step ensures precision in candidate selection.

Niche and pivotal positions, such as those in Risk Management, Digital, and Analytics, demand specialized technical skills and specific qualifications. To secure adept individuals for these roles, we employ competency-based assessment (Mettl test in partnership with Mercer) + interviews, meticulous reference checks, and thorough background verifications. Through these methods, we pinpoint subject matter experts best suited to drive excellence in their respective domains.

To remain competitive in the talent market, we offer salaries and incentives commensurate with both organizational objectives and industry standards. This approach not only attracts top-tier talent but also fosters their retention, thereby contributing to the sustained success of our organization.

How does the company keep track of all the training programs that relevant employees have gone through, who has achieved what level of proficiency, and who should be provided further training?

Huma Tariq: To track training programs and employees' proficiency levels, we use our online Gurukool (Learning Management System - LMS) platform, which timestamps certification tests upon completion of the programs. This allows us to monitor who has undergone which training and their level of proficiency.

The training scorecard includes metrics for trainers' performance, including the Turnaround Time (TAT) for conducting programs. The effectiveness of these programs is assessed based on ground-level performance indicators, such as disbursements and Semi Variable Pay (SVP) earned in incentives.

Two key matrices are used for performance evaluation: 

•The performance of employees within 0-3 months of training completion.

•The performance of employees who were previously unproductive but have improved after coaching (BQM - Zero-productive employees).

Additionally, mandatory courses are closely monitored through the LMS and reflected in the scorecard. This comprehensive tracking system ensures that employees receive appropriate training and further development as needed.

How many new employees have been appointed since April 2023 till Q3, 2023-24 and what is the total employee strength? What is the male-female attrition ratio till Q3, 2023-24 and how does your organization propose to reduce attrition?

Huma Tariq: As of Q3 2023-24, our organization has a total employee strength of 3,215, with 2,569 male employees and 646 female employees. During this period, we appointed 1,622 new employees. The attrition rate stands at 37.8%, with 1,214 employees exiting the organization.

Our current attrition rate is lower than the industry average of over 62%. While we recognize the need for improvement, we are committed to reducing attrition through various ongoing efforts and initiatives.

To enhance employee retention, we focus on creating a supportive and engaging work environment that prioritizes employee well-being and professional growth. We offer opportunities for advancement and address concerns to improve job satisfaction.

Moving forward, we will continue to invest in initiatives aimed at reducing attrition further. By focusing on employee-centric practices and fostering a positive workplace culture, we are confident in our ability to retain talent and drive organizational success.

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