Talent Acquisition and Development Process Report

8/14/2019 Talent Acquisition and Development Process Report

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Talent acquisition and development process

In

Nucleus software limited, New delhi

Submitted to,

Mr. Abhay Anand Tiwari

Group name:

Avante- garde

Section d

Abhra Bhattacharyya

Kumar Gaurav

Narendra Singh Rana

Vishaldeep Sharma

Vinay Kumar Singh

Vivek Kant

ACKNOWLEDGEMENT

This the moment when I want to show my gratitude to all those magnanimous andkind hearted individual who showed keen interest in my live project.

This include in priority Mr. Abhay Anand Tiwari who is our faculty without whoseconstant support and motivation this would not have been possible.

This also the time I must thank Mr. Ravi Verma hr head nucleus software Delhi andMr. Sarad who provided us with all necessary information needed to complete thisproject.


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I thank god for giving us strength to carry this arduous task.

INDEX

Introduction

Overview of nucleus software limited

Organizational dynamics at nucleus software limited.

Talent acquisition at nucleus software co.

Talent development process

Conclusion


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INTRODUCTION

First and foremost, 'TALENT ACQUISITION' forms a part of a much broaderstrategic approach in the corporate quest to gain and sustain a competitiveadvantage in today's marketplace. Other aspects include talent development,retention and transition, these are primarily inward facing, whilst the former isoutward looking.

The core concept of talent acquisition is to get away from the 'fill in the box'thinking to one that is more pro-active and much closer to building the skill setsrequired to achieve business success. Traditionally, a recruitment need occurs whenan individual either leaves or is promoted to another function. That's when paniccan set in, especially if no suitable internal solution is found, a situation that isbecoming known as - "under the bus syndrome". Strong relationship building ornetworking skills are important here. The key to success in talent acquisition is theunique way that you are able to tap into the 'top performers' who are not reallylooking for another job. They never read the traditional job ads or go to the jobboards on the Internet.Strategic Talent Acquisition takes a long-term view of notonly filling positions today, but also using the candidates that come out of arecruiting campaign as a means to fill similar positions in the future.

These future positions may be identifiable today by looking at the succession

management plan, or by analyzing the history of attrition for certain positions. Thismakes it easy to predict that specific openings will occur at a pre-determined periodin time.In the most enlightened cases of Strategic Talent Acquisition, clients will recruittoday for positions that do not even exist today but are expected to becomeavailable in the future. Most of the money spent on Strategic Talent Acquisitionwould have been spent in a tactical recruiting mandate anyway. The only additionalcost is in collecting data on high-potential candidates and then keeping in touchwith them until hire is made. The additional cost becomes insignificant compared tothe value of hiring top competitive talent over time.Strategic Talent Acquisition allows us access to a pool of competitive talent thatwould otherwise have been missed or even worse, ignored.Clearly the businesscase for acquiring talent strategically is far more compelling than simply paying tofill positions today. What we are doing is adding a small incremental effort, inexchange for a huge potential rew

Nucleus software limited: overview


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Nucleus Software Exports Limited provides software solutions to the Banking andFinancial Services Industry. For over 20 years, we have developed solutionsspanning from Retail Banking to Corporate Banking, Cash Management, InternetBanking and Credit Cards.Finn O ne the Flagship product of Nucleus Software is acomprehensive suite for Retail Banking applications comprising of modules likeCustomer Acquisition System, Loan Management, Delinquency and RecoveryManagement, Deposits and Finance Against Securities.Major products of the company

A) Finn one suite is the flagship product of the company. It includes these webbased solution

Customer Acquisition System (CAS)Facilitates credit approval from first point of contact to the final decision-making.

Loan Management System (LMS)Providing the crucial operation support, finance processing and managementthroughout the entire loan lifecycle.

. CollectionsWeb based tracking and management of delinquent customers.

General Ledger (GL)Financial accounting package for business / account maintenance.

ForecasterData Mining, statistical & business intelligence tool.

Finance Against Securities (FAS)Credit line management against marketable and non-marketable securities

Lead Management System Customer Service Module

Power Pay

Collateral Management System

Central Liability System Islamic Banking

B) CASH@WILL this the cash management system including these solutions

CollectionsReceipts management for paper based as well as electronic instruments forcorporate customers of the bank.Payments

Offers paper based and electronic payments processing for the corporate customersof the bank.Liquidity Management


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Enables the bank to provide cash concentration services, Notional Aggregation of funds and Netting services to its corporate customersReporting

Enables online reporting as well as scheduled reporting through the corporatecustomer front-end.C) Power CARD (Credit card System)A Card Management System intended for issuers of all types of cards, aswell as acquirers of all types of networks.

Organizational dynamics in nucleus

NUCLEUS software is a company which highly values its employee

Lets hear from the company itself Our people are our business. As a result,every Nucleus professional receives the candidate, constructive feedback they needto continue their development and achieve their personal and professional goals. Itis just part of how we are ensuring that Nucleus is a rewarding place to work.Ultimately, taking care of our people is about taking care of our customers.Our values-based culture underpins in everything we do and is consistent across ourglobal operations. Each office reflects its unique local culture and colleagues. InNucleus, we don't have employees; we have people who are committed to make ourcustomers successful. We spend time with our people to know them and known bythem; mentor them and listen to them; challenge them and encourage them. Intoday's fast moving business world, some organizations may perceive employeestheir liability, but in Nucleus we believe people are our greatest opportunity.Some benchmarks showing why should a person join nucleus software company.

1) Global Banking Software Products & Solutions Provider For three consecutive years Nucleus Software has been ranked amongst'World's Top Selling Lending Software Product Solution ' providers by IBS,Publishing | 2008

Forbes has ranked Nucleus Software among 'Asia's 200 Best Under A BillionCompanies' for two consecutive years | 2008

Nucleus Software has been ranked among the top 25 companies adopting'Good Corporate Governance Practices' by ICSI for three consecutive years |2008

Nasscom listed Nucleus Software amongst the top 15 'Most ExcitingEmerging IT/BPO Companies to Work For' | 2007

Adjudged as one of the fastest growing companies in Asia Pacific underDeloitte Technology Fast 500 | 2007


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Nulcleus Software ranked 13th in the IT Best Employer Survey by DataQuest| 2006

2) Learning and Development - The SOUL of Nucleus At Nucleus Software we practice 'Self-Driven-On-The-Job-Learning' methodology

whereby, we provide basic concepts training and intensive in-house on job'instruction-based' learning program.3) Innovation is always 'One Thought Ahead' @ NucleusSince inception, Nucleus has been a frontrunner of change in its chosen mission of creating cutting-edge software products for the banking and financial servicessector. A source of innovation, propelled by the power of thinking, Nucleus hasalways stayed one thought ahead of competition.An exclusive Research and Development wing is continuously innovating andengaging in niche technologies to develop robust Software products and solutionswhich exceed customer expectations across the globe.With the flagship product FinnOne continuing its run as international frontrunner,Nucleus has path-breaking new products in the pipeline.4) Global ExposureA strong cross cultural exposure makes Nucleus truly global and being global innature necessitates the exposure of relevant teams to Global markets. NucleusSoftware has more than 150 customers and 250+ product module implementationsin over 30 countries. A niche player in the banking and financial services domain,Nucleus Software's client list includes the leading banks and financial institutionsglobally.5) Work Life BalanceNucleus expects more than a 100% from every team member, and reciprocatestheir commitment with equal enthusiasm. We respect and support our employeesinterest in maintaining a balance between family and There belief system is

entirely driven by employee and their aspirations they believe their Anorganization succeedsNot because of the kind of investment it has; Neither because of the time it hasbeen into business.We succeed because of the people who dream about reachingnew horizons and who strive hard to make those dreams come true.

TALENT ACQUISITION at NUCLEUS LIMITED1. Identifying top performance criteria:

Nucleus software sets certain benchmark like the number of reports theyhave written that resulted in consulting assignments, the amount of revenuetheir group has generated, and so forth being a software company theevaluation does not provide to many benchmark but all nucleus evaluatesand tries to know more or less who contributes the most to organizations.

The task is to quantify those contributions.2. Taking a close look at their business plans :


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Nucleus software company has this strategy to undergo scenario analysisso to identify their future job prospect and requirement which may divulge,by scrutinizing number of projects in hand and number of projectsexpected in next fiscal year. On this basis they identify number of personson the bench and number of persons probable person required.

3. Identifying talented individual outside company:Nucleus software limited encourages their star performer to recommendother talented and performance oriented individual through a program calledEmployee referral program. An employee referral form is being shownbelow of nucleus co.

Nucleus Software Exports Limited

1.1 Employee Referral Policy

1.1.1 Objective

The purpose of this policy is to encourage employees to refer high quality personnel andrecognize and reward employee's contribution in attracting new staff to the organization.1.1.2 Scope

All employees of Nucleus are eligible to participate in this program with exceptions tothe following: -

Human Resource PersonnelEmployees who are involved in anyway in the selection processAssociate Vice President Levels and Above

1.1.3 Definition

A referral award may be given to an employee who helps Nucleus recruit new talent byreferring external candidates for employment. The award may be granted after Nucleushires the candidate and he/she remains in the position for 90 days.

The policy would be effective from May 15, 2008.

1.1.4 Guidelines

The policy is applicable only if the referred employee seeks regular/full employment withthe company. A candidate must be referred by the current employee before HRestablishes contact with the candidate or the candidate directly applies to HR.

1.1.5 Candidates not eligible:

The following job candidates will not qualify as referrals under this program:Candidates below 2 years of experience (Does not include training period)


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Former Nucleus employees Temporary appointments

Contractual employmentSoftware Engineer Trainees or Project Interns

1.1.6 Amount Of Award:

1. The employee can earn a reward for each selected reference & also earnBonuses on subsequent references.

2. Amount earned in each referral level is as followsLEVEL AMOUNT

Grade 5 & below Rs. 10,000/-

Grade 6-7 Rs. 20,000/-

Grade 8 & above Rs. 30,000

1.1.7 Timing of Award:

In order to receive the award, the referring Nucleus employee must be on the payroll(1) whenthe candidate is referred and hired and (2) at the time the award is made .

The amount of the award will be granted after the referred candidate has completed 90days of service in Nucleus.1.1.8 Limits On The Number Of Awards:

There is no limit on the number of Nucleus Recruitment Referral Award incentivesemployees may receive. Only one referral amount would be paid for each referredcandidate.

1.1.9 Process

Employees need to refer candidates to HR through an official e-mail alongwith theresume of the candidateUpon appearing for the interview the referred candidate will fill the candidatedetail sheet certifying the name of the employee who referred him/her.On hiring the candidate the referring employee is responsible for submitting acompleted employee referral form to the HR

The HR validates the information on the Form and upon approval by the Head HRthe form is submitted to the Finance, which releases the payable amount.Employee who has referred the candidate will not participate in the selectionprocess.

The claim for the referral should be made within 6 months otherwise the claimstands null and void.

4. maintaining a database :Nucleus software limited maintains a database all these referred persons throughtheir company data ware software.5. keeping in touch with candidates:


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Nucleus focuses on different kind of screening process they focus more oncandidates aspiration and future goal and then tries to evaluate whether their

job profile can fit into their ambition.So they are completely different from fill in job type compaies6. giving lucrative compensation packages to deserving candidates.

Finally to acquire the talented person in the company , nucleus offers one of thebest compensation packages in the IT industry. Because their ultimate aim is topool talented people in their organization so they are ready to forego thisadditional cost.7. strategic recruitment :Nucleus software limited recruits sometimes talented employees which are kept onthe benchAn idea which exists only in software industry. Person is hired but is notgiven any immediate job assignment, and is kept on payroll to assigned on someupcoming project.

Talent development at nucleus

Nucleus also provides training and hone the talent of their star performers throughvarious ways

An extended 6 month long induction program is done for each newrecruit to identify their talents and hone those traits which may prove to becritical success factors forCompany.Nucleus moves ahead and tries to incorporate these factors to developtalent. They try to enforce and try to :

-Keep the learning curve steep: challenge managers with tasks they do notyet know how to do like-Give people different kind of challenges like a oracle developer is alsomotivated to learn d2k functions as they both are related to professionallyenhance the person.-Give people high-octane special projects assignments: these assignmentsmust require a variety of skills. Like currently nucleus is working ondeveloping software help for abudhabi infrastructure corp. so they


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employeed all the persons on the bench so to increase their learningexperience.

-Continuously stretch the boundaries of current jobs: challenge people toreconceptualizetheir roles, reorient their responsibilities. Let the individualdefine the potential he or she will contribute.

-Structure jobs to be more developmental.-Pay special attention to some jobs like finnone software solution for thatespecially give short term training to employees to enhance their standards.

Each unit- be it Account Dept., Product Division, Customer Service Division of nucleus software limited- set three to six Specific talent strengtheningobjectives for the coming year. These objectives are negotiated between theunit manager and the next-higher executive.

Conclusion

, As the talent war intensifies, the need for long-term, strategic talent acquisitionhas become paramount. HR managers can no longer merely react to yearly andmonthly hiring needs. They must learn to plan ahead to deal with the multiplewaves of retirement on the horizon and adapt strategies to mitigate the highturnover risk that comes with hiring the newest generation of talent.In this war,there is no silver bullet that will ensure a company succeeds in its efforts to builda productive, sustainable, adaptable workforce capable of meeting and exceedingthe organizations goals. Select International consistently imparts to its businesspartners that achieving victory will only come from devising and implementing amulti-faceted talent acquisition strategy, one that takes short-term and long-termneeds into account.we believe that Talent Acquisition needs to be addressed at the most senior levels

within nucleus organisations be it strategic business unit head or CEO of thecompany. This means that Talent Acquisition needs to fit 'hand in glove' with theoverall organisational strategy. It needs to have the appropriate level of resourcesbehind it; it needs to be monitored and reported on at all board meetings and itneeds to involve many people within the organisation who attribute to it theimportance that the organisation requires.


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Talent Acquisition and Development Process Report

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