Investing in potential is a daunting move for businesses, especially for candidates just starting out. But South Africa’s fastest growing Fintech, Elenjical Solutions, is a testament to the benefits that lie in a hands-on approach to training and sponsoring students and recent graduates.
Quality recruits are at the heart of any successful business, and this success in turn makes businesses attractive to high-achieving industry professionals in a virtuous circle. But finding and nurturing talent is a challenge that requires commitment and investment. To find alternative and sustainable ways of hiring talent, Kerisha Govender, Head of People at Elenjical Solutions, launched the ES Graduate Programme – SA’s most advanced fintech consulting training programme. And its success speaks for itself. In under a decade, the firm has reached 100 employees and is recognised as the leading consultancy in the industry.
Now in its fourth year of rollout, the programme has diversified in terms of the backgrounds and types of candidates recruited. It has also expanded, with the latest intake having doubled to 12 pupils. Kicking off in January of every year, a cohort of hand-picked students follow intensive training and courses to acquire the tools needed to navigate financial and IT consulting: “The investment from the firm is what makes the difference. I’ve been part of other graduate programmes, but none of them compare,” states Govender.
The value in an intentionally personal approach to searching for talent
While online applications are the traditional avenues used when headhunting for training courses, Elenjical has developed other routes to ensure they’re finding the most promising candidates. “We work across some of South Africa’s top universities, spending several days at Stellenbosch, UCT, University of Pretoria and this year, also the University of KwaZulu- Natal, to engage with students and discuss the opportunities our programme offers,” explains Govender.
This approach filters into the subsequent interviewing process and decision-making. “We don’t recruit solely based on marks, we take into account multi-dimensional factors to find the right cultural fit for our company,” explains Govender.
A comprehensive – and hands on – approach to training
The seeds planted during the recruitment process come into full bloom during training, where candidates are closely tutored and instructed by members from the executive team, including founder, Tinu Elenjical. The cohort is intentionally kept limited, to ensure that every pupil gets the same level of attention and optimal teaching, which includes both ACI and Murex training, with exams for each at the end of the course. On top of this technical learning, training encompasses soft skills, with classes focusing on how to engage with clients, etc.
Being part of the graduate programme is both challenging and fun. Sandiswa Dlamini has completed his BSc Honours in Mathematics at Wits University (2021) and is currently busy with MPhil in Mathematical Finance. Having such an impressive background and being part of the ES programme have helped him facilitate a smooth transition into the professional world. Dlamini explains, “The experience of working in groups and engaging in social events adds an enjoyable element to the learning process. One of the highlights of the programme is the robust support structure in place, ensuring accessibility and assistance for any typical graduate issues. Overall, the ES graduate programme offers a comprehensive and supportive learning environment, fostering personal and professional growth.”
“I find the graduate programme ideal for students straight out of university starting their career. We gained a substantial amount of knowledge and new skills that helped prepare us for our roles on the projects,” says another graduate, Lisa-Marie Bosman. “As a graduate group coming from such a different academic background, the program really diversifies the experience and knowledge that we all bring to the company,” she explains.
Following the exam feedback, graduates are placed onto projects that match the strengths they displayed, so they can immediately put to practice their learnings and work alongside some of the company executives they’ve gotten to know over the past months.
The Elenjical Solutions programme has been a successful experience for Dhiresh Vallabh as well: “It’s a great way to ease graduates into the working world. The programme has taught us many technical and soft skills on a deep level without making us feel overwhelmed or stressed. I think Elenjical Solutions truly shows its compassion and understanding for its employees,” shares Vallabh.
A worthwhile investment
When it comes to talented workers, having them poached by competitors is a common challenge. Training programs are not cheap to set up, especially when liaising with big financial technology solutions like Murex for accredited courses – and therefore losing a graduate of their scheme is an ever-present risk to Elenjical. But the company’s extremely low turnover rates say otherwise.
“We invest a lot in our grads, and they they definitely get approached a lot because they get great exposure and experience right from the start, but we have extremely low turnover rates,” says Govender. This she attributes not to the technical skills training, but to the people-focused culture and bonds of trust and support that has been fostered throughout the scheme.
Govender also highlights how their hands-on training scheme reaps benefits for the company as well as for South African society. “We recruit a specific set of skills and talents that we think would be helpful for our business and its growth,” she says. “But at the same time, we ensure that we award scholarships and bursaries to recruits who wouldn’t have been able to pay for their own studies, and we make sure to diversify the pool of talent we bring in, both in terms of backgrounds and economic status.”
“By hiring and training SA’s talent pool, the country’s economy profits. We’re opening up a space for skills to be built and for the business to expand and develop, so it’s a mutual relationship.”
Due to the success of the scheme in its SA offices, Elenjical has implemented a similar scheme at its branch in India, with similar success. The scheme is fast becoming a role model for training and recruitment. With the high retention rates and consistent growth, Elenjical’s training scheme is helping power the Fintech’s growth both home and abroad.
Elenjical Solutions is an expert financial services technology consulting firm based in Johannesburg, South Africa. We understand the nuances of the African Capital Markets business and align this with industry leading knowledge of technology. We specialize in the cost effective rearchitecting of our clients’ technology, with specific emphasis on reusing what isn’t broken yet meeting the business needs of now and the future.
Our senior staff provide capital markets technology leadership and business insights and are backed up by project teams delivering system implementations, software developments. training and project management. We bring detailed knowledge of trading and risk, asset management, data and Cloud as well as the move to digital. In addition, we are the only African based Murex Business Partner and system integrator, referenced by the vendor as the leading experts across the region.
