MMFSL, the first NBFC globally to be rated at Maturity Level 5
Chennai, March 20, 2018: Mahindra & Mahindra Financial Services Ltd. (MMFSL) has been appraised and rated at Maturity Level 5 of the CMMI Institute’s People-Capability Maturity Model (P-CMM®). Mahindra Finance is the first NBFC globally to achieve this international benchmark. The appraisal was led by Rajesh Naik of QAI India Limited.
An appraisal at Maturity level 5 indicates that the organisation is performing at an “Optimizing” level. At this level, an organization continually improves its processes based on a quantitative understanding of its business objectives and performance needs. The organisation uses a quantitative approach to understand the variation inherent in the process and the causes of process outcomes.
People-Capability Maturity Model (P-CMM®)is an organisational transformation model from the CMMI Institute, USA. The CMMI Institute is a global leader in the advancement of best practices in people, process, and technology. The Institute provides the tools and support for organisations to benchmark and build maturity by comparing their operations to best practices and identifying performance gaps.
Ramesh Iyer, Vice Chairman & Managing Director, Mahindra & Mahindra Financial Services Ltd. said, “At MMFSL, we have always focused on strictlyadhering to processes and constantly developing our people practices. With an ambitious growth plan, we continually focus on engaging, developing and retaining our employees. People-Capability Maturity Model has enabled us to continually benchmark and improve our People Practices”.
Vinay Deshpande, Chief People Officer, Mahindra& Mahindra Financial Services Sector said, “Mahindra Finance has always believed that people are its greatest assets. We have been widely recognized for our HR practices and have been rated the Best Employer in India by several studies.The People CMMI® Level 5 assessment is a testimony to our people centricity".