Investing in Diversity

Meeting Missions: Hiring Tech Talent, Improving Diversity

Looking to strengthen its technology footprint in India, a global financial institution sought a credible partner with demonstrable experience in driving talent strategy in similar industry segments within the region. When the client engaged Allegis Global Solutions (AGS) as its recruitment process outsourcing (RPO) partner, the initial focus was ramping up hiring for the client’s existing technology centre.

In the next phase of the engagement, AGS helped the client establish and manage a university hiring programme, bringing in more than 1,200 graduates from college campuses across India annually to not only cultivate the next generation of technology talent but also advance the client’s diversity, equity and inclusion (DEI) goals.

Taking Action: Balancing Quality Sourcing and DEI

The client’s hiring initiative first encompassed two locations in India: Pune and Hyderabad. The initial goal was to improve the quality of hire in these regions, specifically for technology-based positions; however, as the partnership has matured, AGS has made an impact across a wide range of financial segments, including:

• Global banking and markets
• Commercial banking
• Private banking
• Retail and wealth management
• Group functions, including:
  • Risk and compliance
  • HR and finance IT
  • Architecture
  • Cybersecurity

Improving DEI – particularly the gender mix – was another primary goal for the client. Understanding this, AGS helped the client set up and manage a widespread university hiring programme, which focuses on strategic advertising, campus engagement and DEI. We have helped make the programme a success by implementing dedicated campus recruitment teams, omnichannel recruitment strategies, innovative technologies and assessment centres to conduct interviewing events. AGS also deployed best practices and methods within the programme to improve diversity and widen the talent pool.

Recognising governance and compliance were also important for our client, AGS helped standardise and streamline governance and compliance systems by focusing on the safety of the bank and driving corresponding efficiencies.

Delivering Impact: Expanding Footprint, Earning Trust

This trusted, eight-plus year partnership has impacted the client in myriad ways. On average, the RPO programme has generated more than 10,000 new hires each year, and 45% of hiring is now gender diverse.

The university hiring programme alone has delivered substantial results for the client, with more than 1,200 graduate hires across tech and non-tech roles reported annually in India – with 60% of new hires being women. Through the university hiring programme, candidates first need to clear aptitude tests and endure rigorous screening to be shortlisted before technical interviews begin. As far as diversity, campus events have helped bring in 55-60% of the client’s female candidates. In terms of retention for campus hires, 70% earn tenure of five years or more, and some have advanced to hiring manager or other leadership roles.

In addition to India, AGS supports similar university programmes around the world for our client, including managing 700 graduate hires in Singapore, 20 graduate hires in Hong Kong, and over 150 technology graduates and interns in North America.

Overall, AGS has proven to be a valued asset to our client – not only meeting and exceeding hiring and diversity goals, but also establishing a respected global university hiring programme and expanding our partnership.