Vijayaraj Palaniraj on Transforming talent strategies to faster organizational growth
EQ India's talent acquisition and development strategies accelerated organizational growth on a global scale achieved by implementing strategies designed to identify and retain top talent worldwide, attract and sustain a workforce capable of driving innovation, and prepare current and future leaders to take on global challenges.
Vijayaraj Palaniraj, Talent Acquisition Head at EQ India, shares his insights on EQ India’s talent acquisition strategies for accelerated organizational growth on a global scale, the role of technology in the hiring process, and fostering a culture that attracts and sustains a workforce capable of driving innovation globally. In this exclusive interview, Palaniraj discusses how EQ India is redefining talent acquisition using a data-driven approach and AI-powered tools, developing people’s capabilities through various learning programs, and preparing current and future leaders to take on global challenges in the age of AI.
Q.: Strategic Evolution: How has Equiniti India adapted its talent acquisition strategies to align with its vision of accelerated organizational growth on a global scale?
Ans: At Equiniti India, we have adopted a data-driven approach for acquiring talent. It means that while at the current juncture we have already mapped out the key skills required for our new hires, we have also analysed the skills that are likely to be in demand in the near future, which is why our talent acquisition process is geared towards people who are adaptable and willing to learn new skills.
This is only possible when an organisation is aware of the external talent market, including trends, skills and competitor activity in order to make an informed decision on fresh hiring and workforce planning – known as Talent Market Intelligence – and also possesses the necessary tools to identify the potential of both its existing talent pool and lateral inductions, known as talent mapping.
Of course, all this starts right from the time we identify the institutes where students are trained as per our company requirements in order to hire the best-fit candidate. It certainly helps that EQ India has a strong employer branding – we were in fact certified as a Top Employer 2023 in India.
Once inducted, whether fresh hires or lateral inductions, the talent pipeline is familiarised with the latest technology tools being used, be it for Shareholder Solutions, Pensions Solutions, Investment Services, Employee Benefit Solutions, KYC Operations, Customer Experience Centre, HR Payroll Operations and Reconciliations.
Q.: Role of Technology: What role does technology play in Equiniti India’s talent acquisition process, and how has it transformed the way the company identifies and retains top talent worldwide?
Ans: At EQ India, we have pioneered the adoption of AI-powered tools to positively transform our hiring process. Since the number of candidates are high, we use applicant tracking systems (ATS) to screen through the CVs and make an initial shortlist of candidates we feel will be an ideal fit for the roles we have on offer. Video interviews with the shortlisted candidates allow us to not only assess the candidates’ technical skills but also their soft skills, such as their communication skills and body language. The increasing usage of AI-powered tools in the recruitment process has also helped eliminate any unconscious bias that could creep in during an in-person interview process. This further helps in identifying in retaining top-notch talent and increases our employee diversity.
We also conduct aptitude tests, spoken language assessment, focusing on phonemes, pronunciation, grammar, fluency and lexical stress. Also, we use online coding platforms to assess a candidate’s coding skills.
Q.: Future Workforce: As organizations prepare for the future of work, how is EQ India fostering a culture that attracts and sustains a workforce capable of driving innovation globally?
Ans: At Equiniti India, we have curated a range of learning and development programmes that focus on upskilling and reskilling our employees. We have a leadership development programme, Leaders ConnEQt, which helps aspiring leaders to realise their full potential and bring out the best leadership qualities.
The Behavioural VILT (Virtual Instructor Led Training) programmes are an intervention tool that includes an experiential and need-based approach for behavioural and attitudinal tweaks that enhance personal efficiency and performance.
We also offer Workday Learning programmes, which are essentially e-learning courses customised as per the job role in order to increase productivity and revenue. In addition, we also have community or peer learning programmes, bite-sized learning programmes offering information morsels once a fortnight that seek to enhance the knowledge domain of employees, university collaborations, such as the one we have with Amity University and external certifications that propel career growth.
Giving employees an opportunity to grow means that we also encourage them to apply for openings through our internal job postings (IJP). Not only that, at EQ India, we are more than happy to welcome back colleagues who may have left for better opportunities and who may want to return – which just goes to show that employees also place a premium on the company’s work culture.
And since no organisation can grow without listening to its employees, we have a monthly employee satisfaction survey through our Peakon platform, which guarantees complete anonymity. Employees are free to offer suggestions to improve the company’s work environment, which are taken utmost seriously.
The idea, behind all these training and development programmes is to create a pipeline of new-age leaders who can innovate and drive change in the global Fintech landscape.
Q.: Regional Challenges: With operations spanning different geographies, how does EQ India address region-specific challenges in talent acquisition while maintaining a cohesive strategy?
Ans: When we decided to establish Equiniti’s GCC in India, we specifically chose Bengaluru and Chennai as the base of our India operations, given that as a fintech company, we needed access to a large and rich IT talent pool and that’s what clinched the decision in favour of these two cities.
However, hiring the right fit of candidates was just the beginning – training them to meet the specific needs of EQ, which is the largest share registry in the UK and the second largest share registry in the US, required a customised training approach, which was fulfilled by training sessions conducted both online and offline by trainers from the UK and US.
Moreover, given that our client base is in the UK and US, we keep our workforce planning for India in sync with our global business requirements. This means that based on our forecast and anticipated increases in demand from the US and UK markets, we accordingly tweak our hiring strategies to align our local hiring efforts with our global needs.
Since a major part of talent acquisition also involves talent retention, EQ India has implemented policies that are extremely employee friendly. For instance, regardless of their job profile, each EQ India employee gets an insurance cover, in addition to life and accident insurance that is three times their annual salary.
In addition, we introduced a car ease facility for EQ India employees, whereby they can own their car after the expiry of the lease period. We also provide overtime pay, night shift allowance and broadband reimbursement. Employees are also encouraged to take part in EQ India’s CSR initiatives by allowing them two extra days off with full pay to take part in our CSR events.
Q.: Building Employer Branding: Equiniti India has gained recognition for its strong employer brand. What steps have been taken to establish this reputation, especially in the context of its global growth objectives?
Ans: We have undertaken a comprehensive brand building exercise through our LinkedIn recruitment campaigns. In fact, social media presence has been a huge factor in showcasing our brand, with several employees sharing their personal growth stories at EQ India. We are also active in campus hiring and engagement programme, which allows us to directly connect with the young generation.
The result of all this is that we have consistently been named among the Top Employers by the Top Employers Institute. Encouraging employee innovation is the cornerstone of our work philosophy and we reward individuals who go above and beyond to drive success through leadership, teamwork and creativity.
We have also brought in global best practices into our operations at EQ India to ensure that employees in India are treated at par with EQ employees globally. Which is why we encourage a work-life balance by helping employees prioritise their personal lives and thus reduce work-related stress.
At EQ India, we have adopted an open-door policy with a flat hierarchy and transparent communication policies to foster an inclusive to create a work environment that is inclusive and welcoming.
Q.: Diversity and Inclusion: How does EQ India incorporate diversity and inclusion into its talent strategies, and how has this focus impacted the organization’s global workforce?
Ans: EQ India probably has the highest ratio of women employees vis-à-vis male employees, with over 40% of our workforce comprising women. We aim to take this figure to 50% by the end of this decade to ensure an optimum balance between our male and female employees. In addition, we have introduced programmes such as return-to-work for new mothers, making us one of the few fair and equal opportunity employers.
We also have a career-returners programme, which provides an opportunity for the candidates who took break in their career due to marriage or pregnancy and personal reasons. We believe that such employees have much to offer to the organisation and just because they took a break for some personal milestones, their career needn’t take a break.
We have also implemented unbiased hiring practices, through a prolific use of AI-powered tools which help eliminate any sub-conscious bias and following a structured interview process.
Q.: Global Collaboration: How do Equiniti India’s talent strategies encourage collaboration between its India-based operations and the parent company in the UK, ensuring seamless growth and synergy?
Ans: At EQ India, we have aligned our local hiring strategies with the global objectives by standardising the hiring process, with caveats for flexibility based on the local environment and market conditions.
Our Integrated Talent Development Programmes align EQ India’s learning and development initiatives with global standards through joint training sessions and leadership development programmes, thus ensuring that employees across geographies share a common understanding of company values and operational practices.
We also promote Cross-Functional Team Engagement wherein employees from both our India office and UK office collaborate on projects which allows them to exchange their learnings from problem-solving.
Globally, EQ uses a Unified Communication Platform which ensures real-time information sharing between its India-based operations and the UK headquarters. This technological integration allows transparency and efficiency in joint initiatives.
We at EQ India also recognise that India is not just culturally diverse from the UK but also culturally rich, which is why we emphasise cultural awareness through exchange programmes and diversity training. This not only minimises friction or any misunderstandings that may arise due to cultural differences but also creates mutual respect and understanding among teams across regions.
Q.: Leadership Development: How is Equiniti India preparing its current and future leaders to take on global challenges, and how do these efforts contribute to faster organizational growth?
Ans: Our leadership development programme encompasses five basic modules – attract and retain talent, develop people’s capabilities, create a values-based culture, build the EQ brand, and motivate and engage colleagues.
To this end, we have initiated leadership development programmes, such as Leaders ConnEQt, which enhances leadership knowledge, skills, abilities and strengths to bring out the best leadership qualities. At EQ India, we have regular workshops and seminars that are focused on global business strategies based on innovation and change management.
Within the organisational pyramid, we offer mentorship opportunities that pair potential leaders with experienced senior executives who help emerging leaders hone their leadership skills by sharing their own experiences and transfer of knowledge. This is a continuous process that ensures that there’s a second and even a third line of leadership ready to take over the mantle when the situation arises.
There are also opportunities for international assignments, that offer valuable exposure to different markets and business environments which helps in creating a global perspective.
Also, as mentioned earlier, we pay special emphasis to cross-cultural training which enables a better understanding of the environment in which our leaders may be called upon to operate in. This helps them tackling the cultural nuances at play within socially and culturally diverse teams.
Q.: Measuring Success: What metrics or benchmarks does Equiniti India use to measure the success of its talent strategies, and how do these align with its ambitious growth targets globally?
Ans: First and foremost, EQ India pays attention to the Quality of Hire, which as the terms suggests, helps determine not just a new employee’s skills sets but also their performance and retention rates, in order to determine the efficacy of the recruitment process.
Next, in order of importance, is the Time to Hire. While due vetting of a prospective hire is essential, a long drawn out recruitment process not only reflects adversely on a company’s hiring mechanism but tends to diminish a hire’s enthusiasm for the job. Moreover, efficiency in hiring processes is crucial for scaling operations in line with global expansion plans.
In fact, we also collect and evaluate feedback from candidates about our recruitment process to not only improve the hiring experience but also enhance our brand value as this shows that we as an organisation care not only about our employees but also about the job applicants.
Once on-boarded, there’s a continuous feedback mechanism in place, though townhalls and our Peakon platform, that allows employees to submit suggestions for bettering the work culture and environment, while being completely anonymous.
At EQ India, we also pay special attention to the cost of hire, which incudes not just the cost of the recruitment process but also the training or the reskilling required for a fresh hire to become adept in the company processes. Which means that keeping retention rates high, or attrition rates low, is also a priority as high attrition increases the cost of hire. By analysing employee turnover data, we are able to isolate patterns that lead to attrition and implement strategies to retain top talent in order to maintain continuity to achieve long-term objectives.
Recognising potential leaders within the organisation also means giving them the space and opportunity to gain experience across different verticals which is why at EQ India, we encourage employees demonstrating innovation and leadership qualities to step out of their comfort zones for career development.
Q.: Based on EQ India’s journey, what advice would you share with other organizations looking to transform their talent strategies to drive growth in a competitive global environment?
Ans: While growth is a continuous process, I believe at EQ India we have managed to hit the sweet spot between talent nurturing and company growth. This has come about by aligning our talent strategy with the company goals and objectives. Which is why talent nurturing is as crucial if not more than talent hiring.
This means that an organisation should be invested in their employees’ continuous learning and upskilling through curated or customised learning and development programmes. For instance, apart from the Leaders ConnEQt programme, we have the Behavioural VILT (Virtual Instructor Led Training) programmes, the Workday Learning Programmes and the bite-sized learning programmes that allow employees to enhance their knowledge base and keep themselves updated about the latest technologies.
Moreover, when you are an international brand, an organisation should take advantage of the global perspectives and experiences that it can offer to its employees across geographies via collaborations and training sessions. This not only ensures a uniformity the company processes but also helps foster an understanding of different markets.
This in turn helps creates a bench strength of leaders within an organisation who can drive the company’s growth into newer markets or geographies with an understanding of local compliances and regulatory provisions. For further insights into the evolving workplace paradigm, visit
