This article follows the case study of Zest Capital highlighting some of their major hassles which they faced while trying to recruit high quality candidates profiles such as Investment Banking, Valuations, Financial Modeling, Corporate Finance, Equity research etc.
For shortlisting the candidates, they used to overturn 1000s of CVs which they receive through online job portals, Linkedin posts and referrals.
After a while they realized that it’s not really an effective process to acquire manpower for such highly niche core finance job roles.
These online portals don’t bridge the gap between your requirements and candidates skills. These roles require specialized knowledge and understanding of Financial Models, valuation techniques etc which can’t be developed overnight.
Diving deep in the recruitment processes of Zest Capital, a boutique Investment Banking firm in Delhi –
They initially used to fill their vacancy through mainly two sources
- Naukri portals and Linkedin Posts and
- Campus recruitments at Commerce or MBA colleges.
Post that, they used to conduct training to give them practical exposure because these candidates don’t possess the skills which would be required in core finance jobs.
There aren’t many graduates in Job market who have actually worked in such fields.
As a consequence, their recruitment was altogether a 2-3 month process, with hassles of reaching out to people in an unstructured way, resume shortlisting, Induction and trainings of candidates to fit them into the job.
How does QuintEdge help in finding suitable candidates for such positions?
At any given point of time, QuintEdge has around 100-150 super niche candidates who would be a perfect fit for core finance role. These candidates have diversified backgrounds including CA, CFAs, MBA (Tier 1 & 2) and Commerce Graduates.
But, How are these candidates different from the ones that we can recruit from MBA colleges or through campus recruitment.
There’s an important catch here. Unlike other graduates, these candidates have undergone 6 weeks of rigorous practical training of QuintEdge’s Investment Banking Program, which includes modules such as Financial Modeling, Valuations, DCF.
Coming back to Zest Capitalf.
While recruiting for the position of Investment Banking Analyst in 2019, they sent their Job Requirements to QuintEdge, instead of posting the same vacancy online.
As soon as they took the hiring decision, QuintEdge team which is led by Ex Consultants from McKinsey and Goldman Sachs, handpicked highly relevant profiles from the students’ pool and pre-screened them to ensure that Zest Capital Advisory gets the most desired candidates.
What was the impact on their recruitment process?
QuintEdge also has its our own Investment Banking firm which helps in ascertaining the exact skills required for these positions.
- As a result of the role played by QuintEdge in the recruitment process of Zest Capital, they were able to fill up the position within 3 days. This reduced their recruitment time by 80%.
- Not only that, Zest Capital Advisory found candidates which were ready to go Live from day 1 of joining since they don’t need any specialized training. This also reduced their training cost by 90%.
- The productivity of their employees recruited through QuintEdge was a level above the average, since they were specifically trained for core finance profiles and hence they strive to get promoted.
