Stevie-winner Home Credit Philippines is digitizing as many human resource tasks as possible to better support employees professionally and personally.
Home Credit Philippines is part of Home Credit Group, which focuses on responsible lending primarily to people with little or no credit history. Home Credit endeavors to promote the principles of financial inclusion and safe lending, providing world-class financing services to customers, who are often first-time borrowers.
So far, their 77.4 thousand employees have served 56.5 million customers through their vast distribution network comprising 195,379 points of sale, loan offices, branches, and post offices.
In the years since Home Credit Philippines began operations in October 2013, they have modernized their human resources (HR) practices and platforms to adapt to the evolving financial and social environments. The Covid pandemic, in particular, prompted rapid digitization of many services and sectors worldwide, which Home Credit Philippines fully embraced.
Home Credit Philippines leaders seek to consistently support the creative thinking of their more than 12,000 employees. An effective leadership style, they assert, should magnify the strengths and potential of their team members, making their weaknesses insignificant. They believe there are no small roles, and that everyone’s contribution is important. Leading a large, diverse group of people means there is no one size fits all. However, one thing common to all is the need to be appreciated.
Enabling Human Connection
The COVID pandemic underscored the importance of reliable communication systems and software. In 2022, they deployed an internal HR chatbot to provide 24/7 service to employees, which can connect employees with HR even if there is no intranet access. They hope that HR will no longer be just a department but a culture that will be embedded in each employee. You don’t need to be an HR department to be a human resource, according to Home Credit Philippines.
Nurturing employees’ talent and development requires thorough understanding of their skillsets, functions, and background. Home Credit Philippines believes that data is power; gathering and deciphering actionable insights from that data can transform people systems.
Their team uses a tool called Power BI, an analytics platform powered by Microsoft. Power BI is a collection of software services, apps, and connectors that work together to turn users’ unrelated sources of data into coherent, visually immersive, and interactive insights.
Home Credit Philippines also uses the CliftonStrengths assessment for personal and team development. The CliftonStrengths assessment is a performance-based tool that builds self-awareness and strength. It helps individuals discover their top five strengths and can help organizations improve company culture and performance. The underlying philosophy of this assessment design is that all individuals can be more engaged and successful when we are able to use our strengths to achieve personal and professional goals.
Where They Are Now
As Home Credit Philippines looks for new opportunities to strengthen its HR support for existing and future employees, the company continues to trust in the latest technology to further improve operations.
Since implementing the above and other digitization efforts, Home Credit Philippines has increased its Talent Acquisition rate from 56% to 89%. They also reduced the average time to fill positions across all levels by an average of 44%.
Improvements have also been made within Operations. Through its automated employee verification tool, HR document control center, SharePoint Automation, JIRA Deployment, and PIP automation, Home Credit Philippines reduced its transaction rate by 26%, having all important materials and documents readily available to employees. They also improved their received rate by 9%, increased service level attainment by 24%, and decreased total processing time by 22%.
Home Credit Philippines won a Gold Stevie Award for the Innovative Use of Technology in Human Resources - Financial Services Industries in the 2022 Asia-Pacific Stevie Awards.
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