Est. Reading: 5 minutes
03/24

Exploring Talent Strategies with Vikrant Bhardwaj, Global Director at BNY Mellon

Consultant, HR & Finance Transformation
Consultant, HR & Finance Transformation
As a specialist Change and Transformation Recruiter at The Consultancy Group, my focus is on providing top-notch services and creating strong relationships to diligently match the right candidates with the right opportunities. With a deep understanding of the Transformation landscape and extensive experience working with FTSE 100 & 250, privately owned groups, and multinational groups I can provide tailored solutions for clients across the UK and abroad. My commitment to excellence and passion for connecting talented individuals with rewarding careers sets me apart in the field of Finance and HR Transformation recruitment.

In the fast-paced world of global recruitment, Vikrant Bhardwaj stands at the helm as the Global Director of Recruitment at BNY Mellon, steering the ship across more than 25 countries and regions. With over 18 years of experience, Vikrant has honed his expertise in setting up and managing efficient recruitment infrastructures, strategically sourcing talent, and fostering an inclusive workplace culture.

We got to sit down with Vikrant to discuss the most pressing HR issues affecting organisations today.

Measuring the impact of D&I initiatives

Diversity and Inclusion initiatives can be complex to measure and report on. However, we can only move towards a more inclusive culture with data as the foundation. We asked Vikrant about his strategies for achieving success with D&I initiatives.: 

How do we measure the impact of D&I initiatives?

“Measuring the impact of D&I initiatives is a challenge many organisations grapple with. It’s not just a question of numbers but of societal impact. How do we truly know if we are fostering a diverse population? One way is to look at the data – understanding what our groups comprise can provide valuable insights into the effectiveness of our D&I efforts. However, it’s not just about ticking boxes; it’s about creating an inclusive culture where everyone feels valued and respected. While organisations may not be naturally designed to measure these intangible impacts, taking a proactive approach to gathering feedback, conducting surveys, and listening to employee experiences can help gauge the success of D&I initiatives. The importance of inclusivity and belonging in diverse groups cannot be overstated. True progress is achieved when every voice is heard and valued. Being inclusive means actively listening to different perspectives, involving everyone in decision-making processes, and creating a sense of belonging where all members feel respected and appreciated. Metrics such as participation rates in forums and employee resource groups (ERGs) can provide insights into how well an organisation fosters inclusivity and belonging among its members. Ultimately, companies must move beyond token diversity efforts and prioritise creating an environment where everyone feels empowered to contribute and succeed”

Vikrant Bhardwaj – Global Director of Recruitment at BNY Mellon

Unconscious Bias

When discussing diversity, it was only natural to inquire about Vikrant’s approach to addressing unconscious bias in both the hiring process and the workplace. Unconscious bias is the automatic, unintentional attitudes or stereotypes that affect our decisions and behaviours towards others. 

How do you deal with Unconscious Bias?

Inherently, we are biased creatures, but it’s not all bad – bias is a part of what makes us human. While eliminating all biases may be an impossible feat, there are steps we can take in the hiring process to mitigate its impact. Various strategies are employed, including training programs focused on diversity and inclusion that all managers must participate in. Continuous refinement of these strategies is essential to ensure their effectiveness. Additionally, technology like our gender decoder tool can review job descriptions and ensure gender neutrality, promoting fairness and equality in the hiring process. By recognising our biases and actively working to address them, we can strive towards creating a more inclusive and equitable workplace environment.

Vikrant Bhardwaj – Global Director of Recruitment at BNY Mellon

The Candidate Experience

Our conversation transitioned seamlessly into discussing the candidate experience, and we were intrigued to learn about Vikrant’s expertise in managing a consistent candidate process across 25 countries within a vast corporation. The ability to navigate such a diverse landscape of roles, ranging from entry-level positions to the most senior ones, is truly commendable. We delved into understanding Vikrant’s strategies and approaches to ensure a cohesive and effective candidate experience across different regions and job levels. It was evident that his insights and innovative solutions played a pivotal role in streamlining the recruitment process and enhancing the overall candidate journey.

How do you manage a consistent candidate experience across 25 countries?

“Identifying key locations where high volumes of roles are needed is crucial. Applying the 80:20 principle – where 80% of the roles are volume-based – can streamline recruitment and ensure scalability. By strategically placing Talent acquisition specialists in cost-effective locations, such as avoiding expensive areas like London or New York, companies can optimise their resources while maintaining a high standard of candidate experience.

When addressing the varied roles of employees, it’s also crucial to understand the diverse perspectives based on their experience levels. Junior members in the high-volume recruitment area often focus on fundamental queries concerning salary or hybrid work arrangements. On the other hand, senior professionals tend to delve into deeper topics such as organisational culture, leadership qualities, long-term benefits, and retirement plans. This contrast necessitates a tailored approach in structuring teams to ensure that individuals receive a relevant and coherent candidate experience that aligns with their needs. By maintaining this structured approach, organisations can uphold a consistent and comprehensive employee experience that caters to the unique requirements of each cohort effectively.

Vikrant Bhardwaj – Global Director of Recruitment at BNY Mellon

Innovation

Innovation is one of the most important concerns for all large organisations. As Global Director of Recruitment at an American banking and financial services corporation, we wanted to find out how Vikrant is embracing innovation in his critical role:

In the ever-evolving innovation landscape, it’s essential to recognise that groundbreaking progress extends beyond AI and other high-profile tech advancements. Much innovation occurs within work practices, operational enhancements, and organisational transformations. Our journey is one of resilience and audacity. Failure is not a setback but a stepping stone towards improvement. We challenge ourselves to push boundaries and question the status quo, even if it goes against the current market trends. Remember when iPhones didn’t exist? Innovation thrives on breaking free from conventional thinking. Our company’s direction is clear – to pave new paths and explore uncharted territories. While many adhere to traditional methods, we embrace the possibilities offered by both cutting-edge AI and operational innovation to revolutionise the way things are done. It’s all about redefining norms and daring to dream big.

Vikrant Bhardwaj – Global Director of Recruitment at BNY Mellon

Hybrid Working

As our conversation drew to a close, we sought Vikrant’s perspective on Hybrid Working and how he navigated this new norm in the workplace. Hybrid working has become a prevalent topic in today’s professional landscape, 

Tip: Read this roundup article of a recent HRD Hybrid Working Roundtable we hosted.

What is your take on Hybrid Working?

It’s interesting how quickly discussions around remote and in-office work have taken centre stage, especially considering the pre-2019 era when this was not even up for debate. What makes this adjustment challenging is the human tendency to cling to familiar routines and habits. After two years of a certain way of working, it’s no easy feat to switch gears suddenly. However, adapting to new norms is about conditioning our minds to embrace change. 

Employees must, though, consider the possible ramifications of remote work in their roles. The ability to work remotely raises the question – could jobs be outsourced to countries like India, where labour costs are lower, and individuals may be willing to work overnight for a reduced rate that aligns with your time zone? These are valid considerations to contemplate when delving into the dynamics of remote work and global outsourcing. It’s crucial to weigh the benefits of remote work against potential challenges such as job displacement or shifting roles to overseas locations.

Vikrant Bhardwaj – Global Director of Recruitment at BNY Mellon

Conclusion

As we navigate the complexities of the modern workforce, Vikrant Bhardwaj’s leadership at the forefront of global recruitment provides a roadmap for organisations seeking to foster inclusivity, address bias, streamline their candidate experience, and embrace innovation in this era of hybrid working. His approach reflects a commitment to adaptability, inclusivity, and the continual pursuit of innovative solutions in the dynamic world of HR. We are very thankful that he shared his insights.

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