The National Housing Finance Corporation (NHFC) was established in 1996, as one of Human Settlements’ Development Finance Institutions (DFI) serving the market for people whose earnings are too high for them to qualify for a free subsidy house, but too low to be accorded a mortgage by the banking sector, generally earning between R3 500 and R22 000 per month. The market they serve is that sector of the public who are mostly able to contribute towards their housing costs, but who find it hard to access bank-funded housing finance. Therefore, as the NHFC, a State Owned Entity, is also a player in the Financial Industry, which means that their Human Capital Management strategies have to be able to compete among the best.
At the center of all NHFC Human Capital Management interventions is capacity development. When they recruit new employees (where required, in the absence of pre-requisite internal skills among existing staff or interns/ learners) or redeploy existing staff, they still have a development plan for each staff member. Furthermore, when NHFC conducts performance reviews on a quarterly basis, in line with the Performance Management Policy, to address performance gaps identified during this process, individual development plans are compiled for each staff member, to form part of the Work Place Skills Plans, which are submitted to the Department of Labour and executed in the year to address both technical skills gap and for each employee growth and development aspirational learning plans.
Training and development also play a part in both the succession and promotional aspects of employee career and organisational growth. As individual staff members are identified for promotion or as potential successors, they are placed in a development pool for nurturing (mentoring/ exposure) and development.