Talent Acquisition And Development Process Report

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 and kind hearted individual who showed keen interest in my live project. This include in priority Mr. Abhay Anand Tiwari who is our faculty without whose constant support and motivation this would not have been possible. This also the time I must thank Mr. Ravi Verma hr head nucleus software Delhi and Mr. Sarad who provided us with all necessary information needed to complete this project.

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

INTRODUCTION First and foremost, 'TALENT ACQUISITION' forms a part of a much broader strategic approach in the corporate quest to gain and sustain a competitive advantage in today's marketplace. Other aspects include talent development, retention and transition, these are primarily inward facing, whilst the former is outward 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 sets required to achieve business success. Traditionally, a recruitment need occurs when an individual either leaves or is promoted to another function. That's when panic can set in, especially if no suitable internal solution is found, a situation that is becoming known as - "under the bus syndrome". Strong relationship building or networking skills are important here. The key to success in talent acquisition is the unique way that you are able to tap into the 'top performers' who are not really looking for another job. They never read the traditional job ads or go to the job boards on the Internet.Strategic Talent Acquisition takes a long-term view of not only filling positions today, but also using the candidates that come out of a recruiting 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. This makes it easy to predict that specific openings will occur at a pre-determined period in time. In the most enlightened cases of Strategic Talent Acquisition, clients will recruit today for positions that do not even exist today but are expected to become available in the future. Most of the money spent on Strategic Talent Acquisition would have been spent in a tactical recruiting mandate anyway. The only additional cost is in collecting data on high-potential candidates and then keeping in touch with them until hire is made. The additional cost becomes insignificant compared to the value of hiring top competitive talent over time. Strategic Talent Acquisition allows us access to a pool of competitive talent that would otherwise have been missed or even worse, ignored.Clearly the business case for acquiring talent strategically is far more compelling than simply paying to fill positions today. What we are doing is adding a small incremental effort, in exchange for a huge potential rew Nucleus software limited: overview

Nucleus Software Exports Limited provides software solutions to the Banking and Financial Services Industry. For over 20 years, we have developed solutions spanning from Retail Banking to Corporate Banking, Cash Management, Internet Banking and Credit Cards.FinnOne the Flagship product of Nucleus Software is a comprehensive suite for Retail Banking applications comprising of modules like Customer Acquisition System, Loan Management, Delinquency and Recovery Management, Deposits and Finance Against Securities. Major products of the company A) Finn one suite is the flagship product of the company. It includes these web based 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 management throughout the entire loan lifecycle. . Collections Web based tracking and management of delinquent customers.  General Ledger (GL) Financial accounting package for business / account maintenance. Forecaster Data 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 Collections Receipts management for paper based as well as electronic instruments for corporate customers of the bank. Payments Offers paper based and electronic payments processing for the corporate customers of the bank. Liquidity Management

Enables the bank to provide cash concentration services, Notional Aggregation of funds and Netting services to its corporate customers Reporting Enables online reporting as well as scheduled reporting through the corporate customer front-end. C) Power CARD (Credit card System) A Card Management System intended for issuers of all types of cards, as well 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 need to continue their development and achieve their personal and professional goals. It is 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 our global operations. Each office reflects its unique local culture and colleagues. In Nucleus, we don't have employees; we have people who are committed to make our customers successful. We spend time with our people to know them and known by them; mentor them and listen to them; challenge them and encourage them. In today's fast moving business world, some organizations may perceive employees their 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 Billion Companies' 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 Exciting Emerging IT/BPO Companies to Work For' | 2007 Adjudged as one of the fastest growing companies in Asia Pacific under Deloitte Technology Fast 500 | 2007

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' @ Nucleus Since inception, Nucleus has been a frontrunner of change in its chosen mission of creating cutting-edge software products for the banking and financial services sector. A source of innovation, propelled by the power of thinking, Nucleus has always stayed one thought ahead of competition. An exclusive Research and Development wing is continuously innovating and engaging in niche technologies to develop robust Software products and solutions which 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 Exposure A strong cross cultural exposure makes Nucleus truly global and being global in nature necessitates the exposure of relevant teams to Global markets. Nucleus Software has more than 150 customers and 250+ product module implementations in over 30 countries. A niche player in the banking and financial services domain, Nucleus Software's client list includes the leading banks and financial institutions globally. 5) Work Life Balance Nucleus expects more than a 100% from every team member, and reciprocates their commitment with equal enthusiasm. We respect and support our employees’ interest in maintaining a balance between family and There belief system is entirely driven by employee and their aspirations they believe their “An organization succeeds Not because of the kind of investment it has; Neither because of the time it has been into business.We succeed because of the people who dream about reaching new horizons and who strive hard to make those dreams come true.

TALENT ACQUISITION at NUCLEUS LIMITED 1. Identifying top performance criteria: Nucleus software sets certain benchmark like the number of reports they have written that resulted in consulting assignments, the amount of revenue their group has generated, and so forth being a software company the evaluation does not provide to many benchmark but all nucleus evaluates and 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:

Nucleus software company has this strategy to undergo scenario analysis so to identify their future job prospect and requirement which may divulge, by scrutinizing number of projects in hand and number of projects expected in next fiscal year. On this basis they identify number of persons on the bench and number of persons probable person required. 3. Identifying talented individual outside company: Nucleus software limited encourages their star performer to recommend other talented and performance oriented individual through a program called Employee referral program. An employee referral form is being shown below 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 and recognize 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 to the following:  Human Resource Personnel  Employees who are involved in anyway in the selection process  Associate Vice President Levels and Above 1.1.3 Definition A referral award may be given to an employee who helps Nucleus recruit new talent by referring external candidates for employment. The award may be granted after Nucleus hires 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 with the company. A candidate must be referred by the current employee before HR establishes 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)

 Former Nucleus employees  Temporary appointments  Contractual employment  Software Engineer Trainees or Project Interns 1.1.6 Amount Of Award: 1. The employee can earn a reward for each selected reference & also earn Bonuses on subsequent references. 2. Amount earned in each referral level is as follows LEVEL AMOUNT Grade 5 & below Grade 6-7 Grade 8 & above

Rs. 10,000/Rs. 20,000/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 90 days 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 incentives employees may receive. Only one referral amount would be paid for each referred candidate. 1.1.9 Process

 Employees need to refer candidates to HR through an official e-mail alongwith the resume of the candidate  Upon appearing for the interview the referred candidate will fill the candidate detail sheet certifying the name of the employee who referred him/her.  On hiring the candidate the referring employee is responsible for submitting a completed employee referral form to the HR  The HR validates the information on the Form and upon approval by the Head HR the form is submitted to the Finance, which releases the payable amount.  Employee who has referred the candidate will not participate in the selection process.  The claim for the referral should be made within 6 months otherwise the claim stands null and void. 4.maintaining a database : Nucleus software limited maintains a database all these referred persons through their company data ware software. 5.keeping in touch with candidates:

Nucleus focuses on different kind of screening process they focus more on candidates 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 compaies 6.giving lucrative compensation packages to deserving candidates. Finally to acquire the talented person in the company , nucleus offers one of the best compensation packages in the IT industry. Because their ultimate aim is to pool talented people in their organization so they are ready to forego this additional cost. 7. strategic recruitment : Nucleus software limited recruits sometimes talented employees which are kept on the bench An idea which exists only in software industry. Person is hired but is not given any immediate job assignment, and is kept on payroll to assigned on some upcoming project.

Talent development at nucleus Nucleus also provides training and hone the talent of their star performers through various ways ➢ An extended 6 month long induction program is done for each new recruit to identify their talents and hone those traits which may prove to be “critical success factors” for Company. ➢ Nucleus moves ahead and tries to incorporate these factors to develop talent. They try to enforce and try to : -Keep the learning curve steep: challenge managers with tasks they do not yet know how to do like -Give people different kind of challenges like a oracle developer is also motivated to learn d2k functions as they both are related to professionally enhance the person. -Give people high-octane special projects assignments: these assignments must require a variety of skills. Like currently nucleus is working on developing software help for abudhabi infrastructure corp. so they

employeed all the persons on the bench so to increase their learning experience. -Continuously stretch the boundaries of current jobs: challenge people to reconceptualizetheir roles, reorient their responsibilities. Let the individual define the potential he or she will contribute. -Structure jobs to be more developmental. -Pay special attention to some jobs like finnone software solution for that especially 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 strengthening objectives for the coming year. These objectives are negotiated between the unit manager and the next-higher executive. Conclusion , As the talent war intensifies, the need for long-term, strategic talent acquisition has become paramount. HR managers can no longer merely react to yearly and monthly hiring needs. They must learn to plan ahead to deal with the multiple waves of retirement on the horizon and adapt strategies to mitigate the high turnover 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 build a productive, sustainable, adaptable workforce capable of meeting and exceeding the organization’s goals. Select International consistently imparts to its business partners that achieving victory will only come from devising and implementing a multi-faceted talent acquisition strategy, one that takes short-term and long-term needs 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 the company. This means that Talent Acquisition needs to fit 'hand in glove' with the overall organisational strategy. It needs to have the appropriate level of resources behind it; it needs to be monitored and reported on at all board meetings and it needs to involve many people within the organisation who attribute to it the importance that the organisation requires.