Effective HR

This aspect of CreditAccess’ innovation strategy aims at improving the quality of the Company’s staff. First of all by developing new tools for selecting and training the right people more effectively, focusing not only on skills, but also on nurturing the right attitude and a consistent corporate culture.

As a people and process business, CreditAccess’ success depends on the quality of its field staff. They are the Company’s ambassadors, cultivating relationships with clients and carrying out crucial tasks such as assessments, collecting payments and helping clients with practical advice. However, the workforce’s widespread nature represents a challenge. It makes it harder to select and hire the right people and to monitor their performance in the field.

Currently, CreditAccess hires around 2,000 new staff each year, from a pool of around 15,000 candidates. Most recruits require additional training to develop the right skills and mindset, either in the area of commercial thinking, corporate culture or their general attitude towards loans and debts. All in all, selecting and training people represents a huge investment. However, up to 25% of newly hired staff (most of whom are recent graduates) are not able to match the Company’s expectations and leave within six months. Technological innovation can help to make the recruitment process more effective and efficient. The key goal here is to reach more candidates and reduce the dropout rate, by predicting with greater accuracy what attitudes and behaviours people are likely to display as employees. Sophisticated computer-aided assessments will play a central role in this. Remote assessments, in close cooperation with universities for example, will enable CreditAccess to reach a larger pool of well-educated candidates.

Once the right candidates have been hired, it is important to monitor their performance, to invest in their development and to retain top talent. Innovations in this area will include improved training and incentive schemes. Another goal is to set up an ERP system that supports field staff in planning their daily activities and allowing Operating Companies to verify that tasks are carried out correctly.