Apr-May

16

Sourcing Strategy for Quality

Hire

ICICI Bank Ltd, Bandra Kurla Complex Towers, Mumbai, Maharashtra,

400051
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ICICI Bank Ltd

A
Report on
Summer Internship Project Titled

‘Sourcing Strategy for Quality Hire”

Submitted To: -

HRMG, ICICI Bank

In partial fulfillment of the requirements of Summer Internship

Submitted By: -

SUMMER INTERN (HRMG) Puloma Singh Raghav IIM INDORE

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Acknowledgement
Summer Internship is a very important milestone in an individual’s career. It feels
fortunate to be able to achieve this milestone with ICICI.

I would like to express my appreciation and gratitude to many people who made
this possible. I extend a heartfelt thank you to my mentor Mr. Abhijit Bhattacharya
for being my constant source of inspiration. I would also like to thank Mr Anirudha
Gupta and Mr Kiran Kumar Reddy for guiding me through out my project.

Understanding the roles wouldn’t have been possible without spending time with
the product experts. A big thanks to Mr Santosh Kumar, Mr Girish Sehgal and Mr Luv
Sekhli for giving me their time. The BIU team played a significant role. I would like
to thank Mr Sandeep Ray, Mr Kaunteya Guha and Mr Anirudha Shah for helping me
understand the same.

The project would never have been possible without accurate and timely data. I
extend my gratitude to Mr Sunil Kumar, Mr Mohammed Fazil, Mr Himanshu Churi,
and Mr Rajkumar, for being ready with it whenever needed. Also, a big thank you to
Mr Nathu for all system related queries.

I would also like to thank Mr Santosh Salvi and Mr Sai Nath Ghatkar for keeping me
focused with simmering coffee and green tea. Also, a big thank you to the canteen
staff .

This project has been a great learning experience both personally and
professionally. There have been many people who have helped me, corrected me
and inspired me all through out.

I feel fortunate to be mentored by all of them.

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Executive Summary
Quality of hire, often known as “QoH”, has gained significant relevance in the coming
times. Various debates have erupted over if existing QoH metrics actually measure
staffing process effectiveness or actual new quality hire. Regardless of what industry
or industries your firm participates in, chances are the senior leadership is paying
more attention than ever before to the impact talent has on productivity. As growth
around the world continues to create demand for skilled labor that exceeds supply,
survival will come down to maximizing the value of every talent management
activity from recruitment to retention.

It is often believed that “You can’t improve what you don’t measure”. This project
tries to bridge the very same gap. We can’t get quality hire without quality
candidates. Also, a large volume of unqualified mixed with the qualified candidates
will frustrate any manager and increase the likelihood of finding the stars among the
trash. With the very same idea, this project tries to understand which crucial
parameters can help us measure and define quality hire. These may include
parameters of applicant quality like resume, schools attended, grades, number of
years of experience, previous industry etc. or other parameters like skills and
abilities, competency profiling, personality/leadership questionnaires, background
screening etc.

This project work defines Quality of Hire through three dimensions; “Productivity”,
“Promotability” and “Loyalty”.

It tries to bring to the fore, perspectives through both quantitave data analysis as
well as qualitative research. It also tries to understand the Occupational Personality
Questionnaire and its association with quality hire. Moreover, it tries to come up
with basic ideas about enhancing and understanding patterns in our sourcing
influencing our hiring quality.

Resume

Previous
Industry Skills

Education Qo Competency
Background Profiling
H

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Table Of Contents

Topic Page no
1. Introduction

2. Understanding Roles

3. Understanding OPQ

4. Research Objective

5. Research Methodology

6. Quantitative Research

7. Qualitative Research

8. Key Findings and Take away

9. Conclusion

10. Annexures

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Introduction:
The Indian banking system consists of 26 public sector banks, 20 private sector
banks, 43 foreign banks, 56 regional rural banks, 1,589 urban cooperative banks
and 93,550 rural cooperative banks, in addition to cooperative credit institutions.
With revenue of 13 billion USD and total assets of 108.8 billion USD (2016), ICICI is
the largest private sector bank in India.

According to K V Kamath, Banking sector in every economy is the mirror that serves
as proxy for the many happenings of that particular economy. The banking industry
is currently in a transition phase. On the one hand PSBs are handling problems of
rising NPAs and on the other hand, the private sector banks are advancing on
technology but facing problems of excessive manpower shortage. In an industry like
banking, which is seeing high growth prospects, attrition is an important subject
matter. With an industry observed attrition rate of 15-20%, some crucial roles, do
experience more than mandated attrition levels. This not only affects the revenue
generation for the bank, but also hampers the relationship continuity. Moreover, it is
believed that with newer banks coming into being, would like to hire seasoned
employees. This may further worsen the attrition numbers of the current players.

Often when talking about attrition, it may not be a linear relationship. Many factors
come into play. It may be because of better job and career fit, great compensation
and perks, Employer Brand, Better company culture, Talent management practices,
Short Commute etc. There have been many studies in different organizations
regarding attrition levels, causes and measures to control it. Some talk about
changes in hiring practices. Some believe, target delivery creates pressure leading to
attrition. Some state large availability in the market as a reason to switch. But, as a
whole, it all boils down to the “Quality of hire”.

Why Study Quality of Hire?

Benefits for
Benefits for Benefits For
Human
Sourcing Recruiters
Resources

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Benefits for Sourcing:

Not all jobs require top quality candidates. If our processes produce uniform quality
in jobs where quality has little impact, it is wasteful. Quality hire metrics can be
tracked by source to identify what channels produce what quality at what cost.

Benefits to Individual Recruiters:

Without measuring quality hire, we may end up wasting time, money and resources
on outside vendors, which aren’t worth the extra money if they don’t produce
quality hires. What if our processes don’t measure fit correctly and the candidate’s
productivity suffers and they quit. Even the great processes have breakdowns.
Identifying the leaks is thus crucial. Often great candidates drop out because of bad
interviews, offers, measures of quality at each level (prospect, candidate, finalist,
new hire).

Benefits to Human Resources:

HR has a bad habit of going with feelings and intuition. This has hurt them in being
assessed as business leaders. The language of business is dollars and numbers. If HR
is to be a player, it must prove it’s contribution using the language
Managers understand. Thus, quantitative analysis of contributing factors.

Quality of hire metrics that focus on measuring the on the job performance of the
recently hired employees typically fall into one of the five categories:

Indivual Retention
Manager Employee
Performance Rates of new Cost of Hire
Saisfaction Satisfaction
Metrics hire

1. Individual Performance metrics: This family of measures looks at actual

performance of employees at various points in the time post completion of
the onboarding process. The metrics included can be averaged across job
classifications for a set period of time such as a business quarter and
compared to previous periods of time to evaluate the effectiveness/impact of
changes made to the staffing process. The measures may include;
a) Performance on position objectives: (Role and responsibility that
combine to determine output)

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b) Time to minimum productivity: (Time taken by a new hire to reach a

minimum acceptable level of productivity)

c) Error Rate: (Percentage of transactions that contribute to achieving

the position objectives that require rework or exhibit defects)

d) Forced Ranking Scores: (Asks the members of the 360 degree

appraisal team to rank new hires which can be used to evaluate the
performance of various sources overtime)

e) Training/assessment test scores: (Serves as valid indicator of the

quality of new hire)

2. Retention Rates of New hires: Measures the percentage of new hires that
are still employed by the company at pre-determined points in time. These
include:
a) Key Job Voluntary/Involuntary Turnover Rate: (Measures turnover
rates among new hires placed in roles defined by the corporation as
mission critical as various points of time.

b) Top Performer Voluntary/Involuntary turnover rate: (Measures

turnover rates among new hires who have been top performers)

3. Manager Satisfaction: Looks at survey results among managers to

determine if new hires this year rank significantly higher in satisfaction
compared to hire made last year. These Include:

a) Manager Satisfaction with competencies: (Asks managers to rate new

hires with respect to the competencies possessed linking to the job
role)
b) Manager Satisfaction with on the job performance: (Asks managers to
rate new hires with respect to the on the job performance

4. Applicant/Employee Satisfaction: These measures look at the survey

results of applicants and employees to determine their satisfaction rate
with regards to how they were treated during the recruitment process.
The results of one period can be compared with those of the other. These
include:
a) Satisfaction with recruiter
b) Satisfaction with recruitment process

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5. Cost of Hire: Looks at cost per hire of each new hire. Results can be
average across source and time period and combined with other new hire
quality measures to determine value of hire. These include:
a) Cost of Hire
b) Salary per hire
c) Offer acceptance salary

The fifth category, cost of hire, is included as a quality of hire category because cost
is a necessary component when determining value.

Technology??

ICICI has been one of the pioneers in using technology in banking. Often cost of
hiring may get too costly or time consuming for the organization. Here is where
technology comes to rescue. For activities ranging from setting up a branded careers
website to leveraging social networks and using smart screening technologies to
automate processes. Web based solutions offer ease of use, increased efficiency and
dramatically lowers costs. Thus, the project also lays emphasis on the same
especially in terms of sourcing.

Since, the project tries to develop a sourcing strategy for quality hire, the above
analysis is very important. Due to paucity of time, the current project tries to focus
on only certain criteria. Although, to have a robust strategy at place, the above study
needs to be carried out comprehensively.

The approach followed is slightly different. The project studies and focuses less on
attrition and more on retention. The underlying assumption is that, we should be
able to understand our own talent pool. It often happens that in the idea of creating
newer and better processes, we fail to address the issues in the already present
good processes. In lieu of the same this project tries to understand and revisit, the
current processes. With significant emphasis on current hiring and sourcing
practices, Training and Occupational Personality Questionnaire, it tries to better
define quality of hire in the context of ICICI. It goes into a complete background
analysis of performers. It further tries to understand the linkages of performance
with variety of factors like education, college, grades, previous work experience etc.

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It also delves into deeper aspects like the sourcing channels, consistency in
performance.

There is more focus on understanding the powerful psychometric tool,

“Occupational Personality Questionnaire”. The project tries to see if it can help us
know our hires better.

Sources of data collection:

Secondary Sources
1. Active dump
2. Education dump
3. Previous experience dump
4. Sourcing channel dump
5. Hire craft for OPQ Reports
6. Employee benefits
7. HRIS
8. Customer Satisfaction Surveys
9. Employment Outlook 2015
10. SHL refresher course on OPQ

Primary Sources

1. Conversations with the product mangers and product heads

2. Structured interviews of set of active employees

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Understanding Roles

Since the project is about understanding quality hire, at the outset, it is very
important to know the chosen roles. Below is an idea of the different roles selected.
The key competencies, skills and work profile. The data is based on several sources
including:
 Job Descriptions
 Discussions with product managers
 Discussions with the active profiles in the given roles

The 5 roles selected are:

RM Wealth DMII

RM ETRG
RM ETRG DMI/DMII
DMI/DMII

BSM
BSM Mortgage DMI/DMII
Mortgage DMI/DMII

ZCM
ZCM Mortgage
Mortgage MI/CMI
MI/CMI

PB DMI

1. Relationship Manager Wealth:

Job Profile:
1. Relationship value very important
2. Specialized services
3. One point contact for the customer
4. Investment needs, Business Banking, General services also
5. Longevity is the key
6. Not only a product pusher but also responsive
7. Generally campus recruits preferred
8. Ensure more wallet share to the customers to avoid devaluation of securities
9. Entire primary banking from approaching to filling an AOF

Skills and Competencies:

1. Ability to analyze data
2. Ability to use wealth products (funds, investments, insurance, risk protection
etc.)
3. Maintain external network
Numbers:

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1. 877 current RM in wealth

2. 490 hired in FY15
3. 34.02% attrition rate in FY15
4. Forecasted attrition: 41.1%
5. High revenue contribution; normal fee income of almost 250-260cr and CASA
book of 400cr so a total revenue of close to 650 cr
6. OPEX of only 220cr and thus a profit of 430 cr
7. Latest is 405cr

Challenges:
1. Communication Skills to be very good
2. Strict rules, definite clients mapped
3. Profile of the client needs to be matched
4. Lot of escalations
5. Meetings regularly important

BSC Parameters: (Fee Income)

1. Customer perspective:
a) Client Contractibility (10% weightage)(60 Unique clients to be
contacted in a quarter)
b) Enhance serviceable client basis (10% Weightage)
2. Process Perspective:
a) Activate new clients on investments by following process of
completion of profiler in Integra and KYC updation in Finacle( 3 new
clients per month with defined value per client and KYC updation)
3. Learning Perspective:
a) E-Learning (10% Weightage)( 3 Online tests per quarter)

2. Relationship Manager ETRG(Elite trade relations goup):

Job Profile:
3. SME business
4. Only a firm and no individual
5. Only Retail customers
6. Trade (Ms and Xs)
7. 50% trade and 50% non trade
8. Purely Current account, Trade and Liability
9. Fee is main deliverable
10. Management of commercial trade and current account relationships in
business banking segment
11. New Trade and Forex clients
12. Manage trade related transactions

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13. Compliance to forex and trade guidelines

14. Lending not done
15. ROC high
16. Pure liability business
17. Maintain number of CA balance
18. Achieve revenue targets by selling various products (CA/CMS/Trade
Finance)
Skills and Competencies:
1. Written and oral communication skills
2. Experience in managing trade
3. Knowledge of compliance of the bank
4. Ability to conceptualize, plan and implement customer acquisition and
service strategy

Numbers:
1. 35% fee
2. 20% CA
3. 60% from his book
4. 40% from market
5. Currently 597 active employees
6. 310 hired in FY15
7. 27.43% attrition rate in FY15
8. Forecasted attrition of 41%

Challenges:
1. Knowing the business
2. Documentation
3. Opportunity very large outside too as common to banks
4. Fee target may be a burden
5. Lending not done
6. ROC high
7. Pure liability business

BSC Parameter: (Fee Income)

1. Financial Perspective:
a) Trade Fee(35 points)
b) CA Float (20 Points)
c) SES Cross Sell (10 points)
2. Customer Service:
a) CSAT Survey score
3. Sales process and compliance perspective:
a) Sales Index
b) Service and compliance Index
4. Learning Perspective:
a) Certification Course

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4. BSM(Branch sales manger) and ZCM(Zonal credit manager) Mortgage:

Job Role:
1. Divided into various sourcing channels
2. Branch, councilor, Direct selling Agent
3. Online/Alternate channel
4. Industry relevant experience

Significant Features:
1. Highly demanding role
2. It requires knowledge about various documentation and other
understanding of mortgage products
3. Further, the person in charge should be good with negotiations as a lot of it is
required
4. A fresher is difficult to be trained due to paucity of time
5. Often due to lack of attention feels demotivated and leaves
6. People from other industries often face the same crisis as aren’t adapted to a
different environment
7. Underwriting considerations
8. Even if the role person leaves, the channel still stays with the bank

Numbers:
1. Current employee strength of 396 for BSM and 49 for ZCM
2. 178 BSM hired in FY15
3. 21.5% attrition rate in FY15
4. Forecasted rate of 29.4%

Challenges:
1. Handholding
2. Training
3. Work Pressure
4. Touch points are many
5. Mentoring
6. Expectation mismatch

BSC Parameters: (Book value, Net Disbursement)

1. Customer Perspective:
a) Pre-Login to sanction TAT customer complaints
b) Number of APF and time taken for APF
2. Process Perspective:
a) Channel/Employee Enrollment and Activation
b) Sanction Productivity
3. Learning Perspective:

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4. E-Learning Score

5. Privilege Banker:
Job Profile:

1. Maintain Productivity
2. Perform compliance, service and operations in branch
3. Generate revenue through privilege customers
4. Meet annual targets
Deliverables:

1. Cross selling of new products and services for both new and existing
privilege customers
2. Achieve sales target for CASA and other products
3. Maintain good relationship with customers
4. Provide guidance and advice to the customers about the products and
services offered
Products/Customers handles:

1. CASA, LI, other liability products

2. Privilege customers
Skills and Competencies:

1. Business and Service skills

2. Understanding and knowledge of the product
3. Good communication skills
4. Ability to build and maintain relationships with new and existing customers
BSC Parameters: (CASA, Fee LI, Fee Investments and others, Assets)

1. Financial Perspective:
a) CASA-NCA
b) Fee- LI
c) Fee- Investment and others
d) Secured Assets
e) Unsecured Assets
2. Customer Perspective:
a) Increase customer relationship value
b) Increase in Mapped FD book
3. Mapped book and NCA
4. Process Perspective:
a) Branch Health
b) Customer service index

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Understanding OPQ
OPQ
1. Personality: Considerable consistency in our behavior across situations and
over time
2. A person’s typical or preferred way of behaving, thinking and feeling
3. Behaviors is always to some extent defined by current environment and
circumstances
4. However, emphasis is on relatively stable and enduring characteristics

How to use personality questionnaire

1. Define the critical competencies that characterize successful performance
2. Measure the critical factors with accurate and relevant tools
3. Closing the gap between actual and aspirational performance

Why OPQ
1. Questionnaire that was relevant and acceptable for use in the workplace
2. Focus on what people typically do
3. Comprehensive range of personality
4. Used by appropriately trained HR professionals

Developing OPQ
1. Deductive Approach: One in which no earlier research is referred to but
rather cluster chosen is based on assumed hypothesis to be proved
2. Inductive Approach: One in which there is wealth of data and there is an
attempt to reduce it to certain factors

Interpreting OPQ
1. Sophisticated information about an individuals working styles and
preferences
2. Interpreting individual trait performance across 32 dimensions
3. Linking the preferences to performance in work place
4. Linking dimensions to job roles and competencies
5. Using the report across different contexts and circumstances

Description
1. Trait model of personality starkly different from the type model of
personality

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2. Rather than labelling a type indicator, they refer to a certain strength of

preference that an individual may have towards a certain type of behavior
3. This describes which approach they will lean to when rein free
4. Strength of preference within personality measured by a specific score called
the Sten Score (Standard Score)
5. Sten scores are transformed into adjectives to differentiate between various
strengths of preference
6. Scale is as follows:
a) 1-3: Low frequency of displaying the particular dimension
b) 4-7: May change with the context
c) 8-10: Very high frequency of displaying the dimension

OPQ Profile

1. Broken into 3 main areas

2. Relationship with people: (Assertiveness, Outgoing, Empathy)
3. Thinking Styles: (Conservatism, Abstract thinking, Detail conscious)
4. Feeling and Emotions: (Anxiety, Tough Mindedness, Optimism)
5. 4 linkages possible:

a. Linking by hypothesis: This involves creating an assumption or

hypothesis linking a person’s score on a particular dimension and his
job requirement. Care should be taken to link sub sections in each
dimension.

b. Linking spontaneously: This includes interviewing the candidate

and identifying traits

c. Linking to Job roles: This requires in-depth study of the JDs of the
specific roles and then linking specific dimensions to each. Includes
(Apriori Hypothesis, Job Analysis and Validity studies)

d. Linking to Competencies: Identifying competencies and then

behavioral indicators of the same required for the specific role. Then
will relate which OPQ dimensions match with behaviors described.

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Research Objective
Quality of hire, as defined in the above pages is very crucial to an organization’s
overall performance. Quality cannot be measured in quantitative terms only. Due to
this, a mix of quantitative and qualitative analysis was used. The first part of the
research methodology introduces to the quantitative analysis of the data. This
involves, running and testing the various hypothesis through logistic regression.
Also, it includes an analysis of the OPQ scores of and it’s relevance. Thereon, the
second part introduces the qualitative analysis. This includes structured interview
with 15 people from each of the roles. These span different years of vintage,
different previous industries and different educational backgrounds.

The important highlights of the research objective are as follows:

Identifying and studying high attrition roles

Background analysis of the roles

Identifying factors that may affect performance

Creating and validating the hypopthesis

Quantitative analysis through logistic regression

OPQ analysis and Relevance to quality hire

Identifying specific OPQ dimensions per role

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Research Methodology:

Quantitative Qualitative
 Logistic  Structured
Regression Research Type Interview
 OPQ Analysis  OPQ Analysis

Part 1: Quantitative Analysis

a) Logistic Regression

Step 1: Identifying roles, factors and creating hypothesis

Roles identified on 6 important parameters:

Volume Attrition Availability in

recruited Levels Market

Relationship
Hiring Revenue
Continuity
Capability Contribution
Gap

Explaining the factors:

1. Attrition levels: The roles defined or selected above are based on the
attrition percentages. It has been observed that the attrition percentages are
high across the chosen roles. Having a profile mapping mechanism may help
lower these levels.

Role Attrition FY15 Attrition FY16

RM Wealth 34.02% 41.1%
RM ETRG 27.43% 41%
PB 16.5% 36.4%
BSM and ZCM Mortgage 21.5% 29.4%

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2. Volume recruited: This refers to the number of people sourced and

recruited from the market for the chosen role. The profile mapping to be
arrived at may affect the volume numbers and help in better quality hire

Role Volume recruited in FY15

RM Wealth 490
RM ETRG 310
BSM 178
Privilege Banker 1933

3. Availability in the Market: Often finding the right person and right profile
for the job poses a problem. In an industry like banking, availability
according to a fit may not be easy.

4. Revenue Contribution: This refers to the amount of revenue created by the

specific roles. The idea is to link the revenue contribution and attrition and
help profiling solve the above problem.

5. Relationship continuity Gap: In an industry like banking, it is all about

relationship. Often attrition causes such important relationships to be lost.
Right profile mapping may help resolve the above intricacies.

6. Hiring Ability: This relates to the capability of the organization to hire

individuals. This may effectively include getting into average turn around
time for recruiting profiles as well as the ideal selection coverage ratio.

Identifying factors and forming hypothesis:

A set of different hypothesis were formed to be run through a logistic regression:

1. Hypothesis 1: Performance is related to vintage in the organization

2. Hypothesis 2: Performance is related to years of experience
3. Hypothesis 3: Performance is related to education background
4. Hypothesis 4: Performance is linked to location
5. Hypothesis 5: Performance is linked to previous industry type
6. Hypothesis 6: Performance is linked to sourcing channel

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Step 2: Logistic Regression:

What is it?

1. A regression where the dependent variable is categorical

2. Measures relationship between categorical dependent variable
(Performance) and one or more independent variables (Education, Previous
industry, Gender etc.)
3. It is quite similar to linear regression but with two key differences
4. Firstly, the distribution is Bernoulli (0 and 1 outcomes) rather than Gaussian
as in linear regression
5. Predicted values of the variables are probabilities and thus restricted to 0
and 1
6. The big difference is the target variable being binary

Using Logistic Regression in current context:

1. In the current study the 5 mentioned hypothesis were run through logistic
regression
2. The target or the dependent variable was performance
3. Since, it can only be binary; Top performers were given 1 and low
performers were given 0
4. There after “Information Values” of each of the factors was identified for
every role
5. Information value basically refers to the information that the available data
gives about the factor chosen1
6. A data set was prepared mapping all the employees with the factors
7. This was then fed in the SAS software and correlation values found out
8. All the factors having a chi square value of less than 0.05 were taken as
significant i.e.; affecting out target variable of performance2

Part 1: Quantitative Analysis

1
Template for finding IV values in the annexure 1
2
SAS generated report in annexure 2

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OPQ Analysis

The other part of the quantitative analysis was the OPQ analysis. The idea of this
analysis was to understand the different dimensions of an OPQ. Thereafter, in
included using one of the 4 hypothesis testing mentioned in the OPQ theory above.
To link OPQ dimensions to the job roles. The idea was to find some significant
dimensions out of the 32, crucial to the roles per se.

The project includes analyzing the OPQ scores and arriving at chosen dimensions
for RM Wealth

a) A sample of top 150 and bottom 150 performers were identified from the
active population

b) The OPQ scores across 32 dimensions were plotted for all the employees

c) Average score of each dimension was calculated

d) Difference in the average score of each dimension for top and bottom was
calculated

e) Dimensions with a significant difference between top and low were

highlighted as important

f) These dimensions were further studied in reference to the job profiles and
competencies to confirm their relevance

g) Also, this analysis was linked with the qualitative analysis based on
structured interview of 15 employees from each role.

Part 2: Qualitative Analysis

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Structured Interview

In order to understand the roles better, structured interview was conducted on a

random sample of 15 employees from each role. These were telephonic interviews.
The sample included employees with different previous industry experiences,
different educational backgrounds, different vintage etc.
The idea of conducting these structured interviews was to understand certain
factors which mere data interpretation could not conclude. These included role
specific training, employees expectation from the organization, employees
knowledge about his or her role etc.

The set of questions were as follows:

1. Give an overview of the role

2. What is the basic skill set needed?

3. What are the significant challenges?

4. What is your take on the relevance of industry background?

5. What is your take on the relevance f location on performance?

6. What is your take on the importance of product knowledge and it’s relevance
to performance?

7. What are the role specific practices you would like the organization to
revisit?

8. How do you map your learning curve in the organization?

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Key Findings and Takeaways:

Results of Logistic Regression

1. The chi square values for all the factors identified for each of the roles were
calculated
2. Except Mortgage roles, none of the roles had a direct correlation between
performance and the factors identified
3. In case of mortgage role, the experience years had a significant correlation
with a chi square value of 0.01 which is lower than 0.05
4. The reasons for lack of direct correlations were as follows:
a. Candidates hired from very diverse backgrounds
b. No specific profile performing too well or too bad
c. No specific industry experience (except Mortgage roles) performing
too well or too bad
d. No specific education background performing too well or too bad

Results of the secondary data study

Important organizations, institutes, sourcing channel and education backgrounds to

be targeted for hiring per role:

RM ETRG

Sourcing Important Banks Others University

Channel
Web Posting Axis Fullertron ICFAI
  Yes HBL Manipal University
Global
  HDFC HCL Rajasthan University
  Standard Chartered Infosys Gujarat University
  Centurion bank of India Bulls Punjab University
punjab
  UTI Bank   Rajiv Gandhi
Prodyogiki
  Citi   LIBA
  HSBC    
  SBI    

RM Wealth

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Sourcing Banks and Degree Institute

Channel related

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CST Standard MBA ICFAI Business school

chartered
  Axis bank   JNTU Hyderabad
  Bajaj Capital   Mumbai University
  HDFC   Rajiv Gandhi Prodyogiki
  ICICI Lombard   Welingkar Mumbai
  ICICI Bank   Fore school of
Mangement
  IDBI   Manipal University
  Kotak Mhindra   BIMM Pune
  Reliance Money   UBS Chandigarh
      SIMS Pune
      XIME Bangalore
      Chetana Institution
mumbai
      NMIMS

ZCM, BSM Mortgage

Banks and Related Institutes Degree Sourcing
Channel
Axis Welingkar MBA CST
HBL Global Mahatma Gandhi University BCOM  
Kotak JNTU (Hyderabad,Anantapur and    
Kakinanda)
HDFC ICFAI    
Hindustan Finance FMS (BHU and MSU)    
Corp
ICICIBank Bharti Vidyapeeth    
HUDCO      
SBI      
IDBI Home Finance      
Mahindra Home      
Finance
India Infoline      
Reliance      
Infrastructure
Sriram City      
Union Housing      
Finance
Standard Chartered      

 Results of OPQ Analysis of RM- Wealth

1. Important dimensions identified include data rational, conscientious and

achieving.
2. Moreover socially confidant and persuasiveness are threshold competencies.

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Dimensions Top Bottom Difference

(Avg) (Avg)
Persuasive 7.0 5.9 1.1
Controlling 5.1 4.9 0.3
Outspoken 5.4 5.1 0.3
Independent 5.6 5.5 0.1
Minded
Outgoing 6.0 5.7 0.3
Affiliative 5.8 5.7 0.1
Socially Confident 6.2 5.2 1.0
Modest 5.2 5.2 0.0
Democratic 5.1 5.0 0.1
Caring 5.5 5.5 0.0
Data Rational 8.0 5.0 3.0
Evaluative 5.4 5.4 0.0
Behavioural 5.4 5.1 0.3
Conventional 6.1 5.6 0.5
Conceptual 5.3 5.3 0.0
Innovative 5.5 5.6 0.0
Variety Seeking 5.2 5.3 -0.1
Adaptable 5.6 5.5 0.2
Forward Thinking 6.6 5.9 0.7
Detail Conscious 6.8 5.1 1.7
Conscientious 7.6 5.0 2.6
Rule following 7.8 6.9 0.9
Relaxed 6.3 5.6 0.7
Worrying 5.1 5.3 -0.2
Tough Minded 5.2 5.1 0.1
Optimistic 6.1 5.4 0.7
Trusting 5.1 5.3 -0.2
Emotionally 6.3 5.4 0.9
Confident
Vigorous 5.2 5.2 0.0
Competitive 6.0 5.1 0.9
Achieving 7.7 5.0 2.7
Decisive 5.6 5.6 0.0
Consistency 7.4 4.6 2.8

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5
Sum of Top (Avg)
4 Sum of Bottom (Avg)

0
Achieving Conscientious Data Rational

Significant

4 Sum of Top (Avg)

Sum of Bottom (Avg)
3

0
Persuasive Socially Confident

Threshold

Conclusion:
The project was necessarily to understand what a quality hire is. The project was
guided by both primary and secondary data collection. Primary data collection,
structured employee interviews,, speaking to product head and product managers
etc. The secondary data collection involved studying different research papers on
quality hire, SHL refresher course on OPQ, referring to different employee outlook

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surveys, consulting customer satisfaction surveys conducted by the organization,

studying different data dumps (education, prior experience, sourcing, vintage) etc.

The most important focus of the project was on studying the “Occupational
Personality Questionnaire” and finding a pattern or relation with the job roles
identified. The above analysis was conducted for the RM Wealth role as well as RM
ETRG roles. Although we could not conclude for dimensions of RM ETRG (due to a
smaller sample size), the analysis was successful in identifying significant
dimensions in case of RM Wealth.

With the help of the logistic regression tool, the project work could effectively
conclude absence of any pattern when it comes to quality of hire, thus helping us
revisit our quality of hire metrics. Though mortgage roles did see a correlation with
previous industry experience, other 4 roles were devoid of any.

Additionally, it also tried to look into a pattern between sourcing channel and
consistency in performance to find any further correlations

Also, qualitative analysis in form of structured interviews of 75 employees across all

these roles was conducted. Many crucial aspects like product, process and system
related training enhancing our current hire and improving our attrition numbers
were identified.

All in all, the project helped get an insight on the background analysis of our top
performers and important skill sets to look out for our new hires. Also a list of
potential hiring bases for top performers were identified. The belief is that, with this
analysis, effective Quality of Hire metrics can be further developed by the
organization. This would not only benefit our current employees but also help us in
ensuring better quality hire in future.

Recommendations:
1. Similar OPQ analysis for Relationship managers of other products

2. An in-depth OPQ analysis of our PO’s(Probationary officers) too as these

continues later as PBs, VBs, and RMs etc.

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3. An initial focus on their OPQs may help improving and retaining our talent

4. Trying to look at the quality of hire metrics highlighted in the introduction of

the project report

5. Identifying and building our own unique quality of hire metrics

6. Revisiting the need to have a training module for RM ETRG (Elite trade
relations group) as is there in place for RM Wealth with special focus on
product, process and system.

7. Focus on hiring talent from Mortgage (Housing finance, infrastructure) and

Pharmacy businesses for roles like BSM and ZCM mortgage. It is observed
that these people perform significantly better in these roles and stay longer
in the organization.

Annexures:

Annexure 1: IV Values Template

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Vint Count Event Event Rate Capture IV

age Count
To Botto Top Botto Top Botto
p m m m
0-6 24 12 12 Event Event (Top capture-
count/co count/to Bottom
unt tal of Capture)*LN(
event Top
capture/Botto
m Capture)
7-12 43 32 11

Annexure 2: SAS Report of Logistic Regression

The LOGISTIC Procedure
Model Information
Data Set WORK.QUERY_FOR_HR3_0000
Response Variable Target
Number of Response Levels2
Model binary logit
Optimization Technique Fisher's scoring
Number of Observations Read1507
Number of Observations Used1507
Response Profile
Ordere
d Total
ValueTargetFrequency
10 1358
21 149
Probability modeled is Target='1'.
Class Level Information
Class Value Design Variables
CityClass B 1 0 0
  C 0 1 0
  D 0 0 1
  Tier 1 0 0 0
PreviousIndustr
y Banks and Related 1    
  others 0    

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Model Convergence Status

Convergence criterion (GCONV=1E-8) satisfied.
Model Fit Statistics
Criterio
n Intercept OnlyIntercept and Covariates
AIC 974.308 696.487
SC 979.626 728.394
-2 Log L 972.308 684.487
Testing Global Null Hypothesis: BETA=0
D
Test Chi-Square FPr > ChiSq
Likelihood Ratio 287.8215 5 <.0001
Score 440.0170 5 <.0001
Wald 239.7985 5 <.0001
Type 3 Analysis of Effects
D Wald
Effect FChi-SquarePr > ChiSq
ExperienceYears 1 224.9158 <.0001
CityClass 3 1.9289 0.5873
PreviousIndustry 1 0.5857 0.4441
Analysis of Maximum Likelihood Estimates
EstimatStandard Wald
Parameter   DF e ErrorChi-SquarePr > ChiSq
Intercept   1 -3.3845 0.1962 297.4295 <.0001
ExperienceYears  1 1.5979 0.1065 224.9158 <.0001
CityClass B 1 0.1334 0.2316 0.3315 0.5648
CityClass C 1 0.3698 0.2886 1.6419 0.2001
CityClass D 1 -0.6260 1.3999 0.2000 0.6548
PreviousIndustr Banks and
y Related 1 -0.3935 0.5141 0.5857 0.4441
Odds Ratio Estimates
Point 95% Wald
Effect EstimateConfidence Limits
ExperienceYears 4.942 4.011 6.090
CityClass B vs Tier 1 1.143 0.726 1.799
CityClass C vs Tier 1 1.447 0.822 2.548
CityClass D vs Tier 1 0.535 0.034 8.313
PreviousIndustry Banks and Related vs others 0.675 0.246 1.848
Association of Predicted Probabilities and
Observed Responses
Percent Concordant 93.3Somers' D 0.875
Percent Discordant 5.9Gamma 0.882
Percent Tied 0.8Tau-a 0.156
Pairs 202342c 0.937
Partition for the Hosmer and Lemeshow Test

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Grou Target = 1 Target = 0

pTotalObservedExpectedObservedExpected
1 13 0 0.23 13 12.77
2 528 0 17.31 528 510.69
3 478 0 17.82 478 460.18
4 228 0 10.66 228 217.34
5 164 120 43.64 44 120.36
6 96 29 59.33 67 36.67
Hosmer and Lemeshow Goodness-of-Fit
Test
Chi-Square DF Pr > ChiSq
270.4726 4 <.0001
Generated by the SAS System ('SASApp', X64_SRV12) on May 09, 2016 at 3:16:10 PM

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