Competency and talent management for NBFCs: knowing your strong people and growing managers from within
A growing lender needs branch managers and credit leads faster than it can hire them. A map of skills and potential shows who is ready, who needs a stretch and where outside hiring is truly needed.
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Share your requirementsWhy competency and talent management matters in NBFCs
Promotion in finance companies often follows the sales number. A top executive is made a branch manager and discovers that coaching, credit sense and conflict handling are different skills. Meanwhile, capable credit and operations people are not seen because they do not sell. The pool of future leaders is smaller than it needs to be.
A competency map lists the skills for each role and level, such as product knowledge, judgment on files, customer handling and leading a team. Managers rate their people against it, and the ratings are compared in a talent review. High potential staff get stretch tasks and mentors, and moves between functions, for example from collections to credit, are considered. The lender then fills more manager posts from inside.
How to set it up
1. List skills for each role and level
Write a short set of skills for executive, senior executive, team lead and branch manager across sales, credit and collections.
2. Rate people against the list
Managers rate their staff on the skills with a few examples. Compare ratings across branches to keep them consistent.
3. Hold a talent review each half year
Bring area managers and HR together to name strong performers, flight risks and people ready for the next level. See competency and talent management.
4. Give stretch tasks and mentors
Offer a deputy role, a project or a spell in another function to those chosen, with a mentor from a different branch.
5. Track moves and results
Record who moved, how they performed and which skills proved decisive. Adjust the map accordingly.
Check these first
Before changing anything, find out what is true today. These take an afternoon and use your own records.
- List branch managers appointed in the last two years and where each came from.
- Ask whether credit and operations staff are considered for managerial roles.
- Check how ratings of the same skill compare between two area managers.
- See whether any mentor arrangement exists for new branch managers.
GullyHR can do this with you. Read how we approach competency and talent management in general, or share your requirements and we will tell you where to start.
Questions owners ask
Not automatically. Check coaching, credit judgment and handling of conflict. Give the person a deputy or team lead spell first, with support, before a full branch.
Look for learning speed, sound judgment on files, steady behaviour under pressure and willingness to help others. Several managers' views are better than one.
They can if criteria are hidden. Share the skills list, explain the process and give feedback to staff. A clear method builds trust even when someone is not picked.