A great place to work is one where you Management Trust the people you work for... Trust is the Key Driver… Employee Job Other Employees ...have pride in what you ...and enjoy the people you do... work with Relationships are the key….. 3
And that enables one to Management achieve organization’s objectives Employee Job Other Employees ... give their ... and work together as personal best a team/family in an environment of Trust…..
Essential elements of a Great Place toWork Two way Communication T Credibility Manager’s Competence Integrity – Reliability of Management R Professional Support Collaboration U Respect Demonstrated Caring S Equity Impartiality T Fairness Justice For the Job Pride About my Team With the Organization Individuality is valued Welcoming Atmosphere Camaraderie Part of something larger
Two employees may have different experiences in the same organization…“ Oh, he is ok if you get on the right side of him”
“100 Best” vs. Stock Market 1998-2009Cumulative Return 250% 224% 200% 150% 111% 100% 42% 47% 50% 0% "100 Best" "100 Best" S & P 500 Russell 3000 Reset Buy and Hold AnnuallySOURCE: Russell Investment Group, 2009
“100 Best” vs. Stock Market 1998-2009 Cumulative Return Performance of "100 Best“ Cumulative return in percentage terms "100 Best" Russell 3000 S&P 500SOURCE: Russell Investment Group, 2009. Data from Fortune “100 Best”
Voluntary Turnover: India Top 50 vs Industry Average 17% Telecommunications 13% 21% Construction & Real Estate 14% 19% Professional Services 14% 13% Manufacturing & Production 6% 21%Financial Services & Insurance 18% 0% 5% 10% 15% 20% 25% Overall Industry 2011 India Top 50 2011 *Source – Best Companies to Work For – 2011 study
Are Great Workplaces Great Companies?11 out of 18 Companies featured in “Built to Last” by Jim Collins alsofeature in Great Place to Work® Institute’s 100 Best Companies to workfor in America*1.Nordstrom2.Marriott International3.American Express4.Merck5.Procter & Gamble6. Hewlett-Packard7.Johnson & Johnson8.Wal-Mart Stores9.3M10.IBM11.Motorola * Published by Fortune magazine in US
THE JOURNEY…Roadmap to become a Great Place to Work
Phase 1: Building the Foundation -Articulating a People Philosophy• A clear understanding of how their people are linked to their business.• If the leadership team does not have clarity in this area then this is the starting point.
Phase 2 : Strengthening the foundationThe “differentiators” in a great workplace: Equity Reliability Impartiality Caring
Phase 3 – Building the Pillars – creating great people managers People Practices HR Processes 1.Hiring •Recruitment 2.Welcoming •Induction 3.Inspiring •Performance Management 4.Speaking •Employee Communication 5.Listening •Training 6.Collaborating •Rewards and RecognitionEmployee 7.Redressing •Talent ManagementExperience 8.Thanking 9.Developing 10.Balancing (Caring) Manager’s Competence 11.Supporting (Caring) 12.Including (Caring) •Employee engagement •Communication 13.Celebrating & •Goal setting and Feedback Enjoying •Coaching skills 14.Rewarding •Appreciation and (Sharing) Recognition 15.Contributing •Quality management (Sharing) •Conflict resolution
What is missing in current modes oftraining?1. Only focuses on skill building2. Absence of practical tools and techniques to drive change3. Not clearly measurable in terms of improvement in workgroup results4. No focus on managers actions around people practices5. Inadequate follow up mechanisms to ensure change23
The Giftwork for Managers Proposition INFORMEmployee SurveyManager Scorecards EQUIP EMPOWER Recognize the best managers 24
The Giftwork for Managers Proposition Enable managers to assume responsibility for making change Develop managers’ skills to create trust-based, high-performing teams Increase the rate of successful implementation of programs, policies, and practices by teaching managers how to successfully present them to employees Reduce the risk of low morale and low productivity by giving managers the tools to lead, inspire and motivate 25
Putting the roof – articulating andinstitutionalizing your employer brand/employee value propositionFactors have a disproportionate impact on overall employeesentiment in an organization.1. Attracting talent for key positions - People want to associate themselves with outstanding talent.2. Equity – Less visible hierarchy, More egalitarian spirit and More equitable power distribution3. Creating a fun place to work – A young India and a young workforce want to enjoy their work life and their time at work.