Banking, Financial Services & Insurance (BFSI)
Since the nationalization of banks in 1969, the Indian Banking, Financial Services and Insurance (BFSI) sector has witnessed incremental changes over the last five decades. We have entered a new decade – the age of Apps, Algorithms, Block-chain, Big Data, Internet of Things (IoT) and Artificial Intelligence – and every BFSI industry organization is using a combination of these emerging technologies to offer customer-friendly services and improve its competitiveness.
BFSI sector is also grappling with new-age challenges like unorganized data, fraud identification and operation inefficiency. To overcome these challenges and adjust to the huge digital shift, majority of the establishments are looking for candidates with new skill sets. This has created a varied scope of employment like client engagement managers, data scientists and analysts etc., for millennials. According to an industry report, 15 to 20 percent of the Indian workforce in BFSI sector would be deployed at such new jobs by 2022.
Emerging Trend: Flexi-Staffing
Technology is redefining services and customer experiences in the BFSI sector. This has forced banks and insurance companies to hire skilled professionals having sound knowledge of new technologies and customer expectations.
On the other side, a huge skill gap is currently seen amongst millennials due to lack of skill-based training. Young graduates need global exposure, orientation and training for preparing themselves to be future-job-ready. Earlier too, lack of skilled professionals resulted in higher attrition rate in banking and financial institutions. Hence, hiring a reliable and skilled workforce and building relationships with genuine clients, suppliers and partners has become utmost importance for the success of any business.
BFSI firms are nowadays outsourcing their non-core activities to reduce their indirect costs. They are now more buoyant about hiring temporary and contractual professionals. Companies like Talensetu Services Private Limited are helping banking and insurance companies find the right talent by providing innovative and customized BFSI staffing solutions.
Talensetu – an ISO 9001:2015 certified and leading staffing agency in Pune, Mumbai and Bengaluru – bridges the gap between niche-skilled, talented candidates and BFSI companies. Talensetu will help BFSI companies find competitive talent within optimum turn-around-time. Talensetu as your staffing partner nurtures talent and provides you with the best trained and skilled professionals.
Talensetu Staffing Solutions
- Talensetu – your staffing partner – has offices and teams at major financial centres like Mumbai, Pune and Bengaluru.
- Reach, scale and expertise at important locations near your company / office helps us offer you the best banking industry talent available from top institutes, organizations and companies across India
- Team Talensetu has huge database of trained and tech-savvy BFSI professionals having good analytical skills, grasping power and operational skills.
- We have also designed customized training and orientation programs for candidates for particular skill-sets as demanded by our clients. Candidates are also trained in communication, technical and soft skills.
- Expert recruiters and consultants in team Talensetu understand the changing trends and requirements of BFSI sector – especially medium sized banks and insurance companies – and accordingly update our database of candidates.
- We have a well-defined screening process, which ensures picking up of right candidates who possess the right skills for this industry.
- We also help selected candidates to understand the MNC culture and expectations to be fulfilled.
- Talensetu also offers various other services like recruitment process outsourcing (RPO) and payroll management. Payroll management services includes accounts, salaries, payments, reimbursements, provident fund, employee state insurance (ESI), labour welfare fund, employee issues, compliances, tax filings and returns etc.
Interested in Talensetu’s BFSI Staffing Services? Connect with us now!
Did You Know?
- Total spending on IT for BFSI sector will be around $11 billion in 2020
- India’s FinTech software market may touch US$ 2.4 billion by 2020
- The candidates who apply for the BFSI jobs lack some important qualities. Talensetu tracks that and addresses the needs.
- Penetration of BFSI services into rural markets is resulting in surge of job opportunities in tier II and III cities