HR Support for a Financial Services Startup: A Case Study
Background and Challenges
Client Profile
A startup in the financial domain offering home loans, car loans, and other loan related services
Partnership
Partnered with us for People management services in May 2023
Key Challenges
Recruitment for critical roles, process and policy setup, compensation benchmarking, payroll processing, sales criteria and KRA setup and implementation
Solution Approach
Understanding the client’s business model, goals, and perspectives for the year
Developed an employer value proposition, designed professional communication deck, fostered trust with
candidates, utilized extensive networks
Defined organisation and functional objectives, set functional and individual KRAs
Defined functions, created business and functional processes, identified competencies, created job descriptions
Designed and compiled an Employee handbook addressing people-centric policies
Designed structures as per compliance and tax standards, created incentive structures
Established reporting criteria and matrix with Key Result Indicators for effective performance tracking
Approach to Operation and Implementation
Recruitment Process
Designed and adhered to a defined recruitment process to support scalable hiring plans
Induction and Orientation
Designed impactful induction process for easy onboarding and integration of new employees
Employee Engagement
Organized monthly team bonding activities to drive company values and address challenges
Performance and Development
Introduced performance management system, shared feedback, and initiated development sessions
Employee Communication
Established clear communication channels to enhance transparency and satisfaction
Conclusion and Results
Achievements
- Successfully filled first seven positions within 18 days
- Established robust HR processes and policies
- Implemented effective performance management system
- Enhanced employee engagement and communication
Impact
By addressing recruitment challenges, setting up robust HR processes, and fostering employee engagement, we helped the client establish a strong foundation for their financial services startup. Our strategic and hands-on approach enabled the client to meet their initial goals and position themselves for future growth.
