Leading Rural NBFC increases efficiency in talent engagement

KNOLSKAPE delivers improved efficiency in hiring and retention planning and execution. Helps increase productivity from effective resource utilized.

Overview

The client is one of India’s leading NBFCs. Headquartered in Mumbai, India, the client has over 15,000 employees across 1,000+ offices in India, serving more than 3 million customers.

Many managers and senior managers within the organization are home-grown talents, having worked with the organization for several years; for some, this is their first organization. These managers come with industry experience of 10-13 years and have climbed up the ranks of the organization from Sales Executives to Junior Managers, and now heading business functions for the organization. 
While able to confidently make operational decisions on a day-to-day basis, these managers struggle with big-picture thinking and operating with a strategic mindset, necessary to effectively lead the business.
 

Problem

  • Inconclusive goal setting exercises are undertaken without understanding the commitment ramifications
  • Lack understanding and importance of making quick business decisions, strategic orientation, and big-picture thinking
  • Inability to identify critical business challenges and key focus areas within their business units
     

Solutions

Low business acumen of the target group has resulted in business decisions not yielding the desired outcomes, causing low business growth and productivity. Given these challenges, the existing learning tools and programs employed by the client were inadequate, and they needed a more robust solution that would effectively and quickly upskill these managers. KNOLSKAPE proposed a Business Simulation-based training initiative, customized to emulate the participants’ real-time work environment, and enable learners to understand the intricate correlations of different business elements. The solution focused on improving the learners’ ability to strategize and forecast growth, and mitigate risk, as well as develop competencies such as financial and business acumen, analytical and critical thinking ability, decision making, and planning and organization. Learners benefited in the following manner:

  • Improved understanding of critical business levers & their intricate correlations
  • Enhanced decision-making capabilities by making learners handle multiple variable factors working in tandem
  • Safe learning environment to experiment and apply learning, and understand the impact of their actions

Impact

  • Increased revenues and profits through price optimization and strategic marketing
  • Significantly compressed learning curve, reduced from 2-6 months to 10days
  • More strategic investment decisions that enhanced customer service, improved service quality and reduced TAT
  • Increased productivity with more effective resource utilization
  • Increased productivity with more effective resource utilization
  • Improved efficiency in hiring, and retention

 

The Business Simulation-based learning initiative was a first of its kind solution employed by the client and within the industry. Learners found it to be highly engaging and action-oriented solution, as it allowed them to experiment while learning. This enabled learners to effectively implement their learning in their role. Post training analysis undertaken by the client showed a reduction in costs, smarter business investments and increased revenues and profits, and an overall high ROI on the learning initiative.

​​​​​​​​​​​​​​To read how KNOLSKAPE's solution delivered results, please fill the request form. We will send you the full case study.

Receive complete case study