Competency Framework
Financeit
Client Overview
About Financeit
Financeit simplifies complex sales transactions with a point-of-sale financing platform that helps businesses of all sizes offer customers affordable monthly payment options. For larger enterprises, Financeit provides an integrated suite of home improvement solutions, including workflow management, live contact agents, financing options, and more.
FinanceIT's Situation & Challenges
Financeit faced a critical need to establish a comprehensive competency framework for its rapidly growing team. Although the company had clear values, vision, and mission, there were gaps in training for technical capabilities and business processes. A high annual turnover rate was a concern, along with rising competition from top-tier firms for high-skilled talent.
- Employee Growth: Prioritized but lacked a structured approach.
- Training & Development: Primarily focused on technical skills and business processes.
- People Leadership: A key priority, but missing an evaluation framework.
- New Management: Newer managers lacked experience in conducting effective interviews.
The Solution – Bridging Strategy and Success
Oliphant took a holistic approach by first designing a comprehensive Talent Management Strategy to serve as the backbone for Financeit’s future growth.
- Core and Leadership Competencies: Developed, complete with defined behavioural indicators.
- Job Profiles: Created 260 job profiles and corresponding behaviour-based interview guides, contributing to a reduction in 90-day turnover.
- Competency Assessment Tool: Designed to objectively measure talent for readiness, potential, and inform development plans.
- Data-Driven Learning: Analyzed aggregate assessment data to fine-tune the learning and development strategy.
- People Leadership: Designed, developed and delivered training and development workshops elevating skills and confidence with sourcing, interviewing, selection, onboarding and training.
This engagement had a measurable impact: within 12 months, the annual turnover rate showed a notable decrease. The project scope also expanded to support Employee Engagement and Learning and Development, further solidifying Financeit’s competency framework.