On 30th Sept, 2015, Mahindra & Mahindra Financial Services Ltd (MMFSL), India was appraised and rated at maturity level 3 of the People CMM® as a result of an appraisal conducted using SCAMPISM-A. MMFSL (started in 1991) is a large NBFC (Non-Banking Financial Company) with a workforce of more than 14K people.
The result of this SCAMPISM-A is available at the CMMI Institute site containing Published Appraisal Results (PARS), here (https://sas.cmmiinstitute.com/pars/pars_detail.aspx?a=25252).
This result has also been reported in the media, here.
This appraisal and rating was a milestone in an ongoing journey at MMFSL that was initiated around two years ago by Mr. Vinay Deshpande, their CPO (Chief People Officer). The objective was to improve the skills, motivation, engagement, and alignment of their people for achieving higher levels of organizational performance.
Here are a few highlights of MMFSL, their people related processes, changes implemented during the People CMM® journey, benefits accrued, and future plans.
- MMFSL is the first NBFC in India with a large workforce (over 14K employees), with a pan-India presence to have successfully implemented maturity level 3 aligned processes.
- MMFSL has, in the last two years been able to hire over 60% through employee referral, saving considerable hiring costs. This also reconfirms that employees are acting as ‘promoters’ of the organization in the job market.
- During the People CMM® journey, MMFSL has implemented a robust competency framework that is used for hiring, individual development, internal job postings, training, and succession planning.
Other companies of the Mahindra Group in the Finance Sector are also adopting the People CMM® framework.
We hope to share more experiences from MMFSL soon on this website.
The appraisal team was led by Rajesh Naik (CMMI Institute Partner: QAI India).
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