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Employee Engagement

  1. 1. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 EMPLOYEE ENGAGEMENT A Holistic Approach for a Truly Entrepreneurial Culture
  2. 2. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 WHOM DOES EE HELP MORE? The Employee? OR The Company? Lets vote…
  3. 3. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 INTEREST IN EE - TREND Emerged in 2005 and people have not stopped talking about it! The idea was so good… Marketers copied it! But, today, customers are more engaged than employees! (E.g., Apple, Google, Samsung etc who enjoy high customer loyalty!)
  4. 4. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 WHAT IS CUSTOMER ENGAGEMENT? Customer engagement (is) the representation of the relationship between your brand and your customer. A fully engaged customers should be engaged to the point of advocacy – i.e. they become a ‘fan’ of your brand. –Ian Golding ENGAGED CUSTOMERS ARE: • Evangelists – They refer family and friends to the brand, whether they’re a purchaser or not. They also consume and re-broadcast brand content to their social networks. • Responders – They engage in dialog with a brand, providing constant feedback. • Loyal – Unlike purchasers, loyalists stick to one brand in a particular category. This group is the most likely to exhibit combinations of the other three characteristics. http://blog.accessdevelopment.com/what-is-the-definition-of-customer-engagement
  5. 5. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 ENGAGEMENT • Engagement (is) the representation of the relationship between your company / brand and the subject. • They become a ‘fan’ of your brand / company • They are motivated to contribute to organisational success • They are able to enhance their own sense of well- being Top Customer Engagement Companies 1. Apple 2. AT&T 3. Hyundai 4. Ford 5. Avis 6. Domino’s 7. Dunkin’ 8. Google 9. Konica Minolta 10.Discover 11.NFL Top Employee Engagement Companies 1. ABC Supply Co., Inc. 2. Indus Towers 3. Adena Health System 4. Intermountain Healthcare 5. Adventist Health System 6. Krungsri 7. ANN, Inc. 8. Lakeland Regional Health 9. Bank Central Asia 10.LS Travel Retail (NA) (Gallup Poll-2014)
  6. 6. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 WHAT IS EMPLOYEE ENGAGEMENT? A workplace approach designed to ensure that employees are: • committed to their organisation's goals and values, • motivated to contribute [actively] to organisational success, and • are able to enhance their own sense of well-being (self- interest). Source: www.engageforsuccess.org/about/what-is-employee-engagement/
  7. 7. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 HEALTH OF EMPLOYEE ENGAGEMENT • Gallup research indicates that more than 70 percent of employees in the typical company are “not engaged” or “not actively disengaged.” • 2014 Trends in Global Employee Engagement – Aon Hewitt • It was 84 percent in 2012! • So we can draw some comfort that it is improving
  8. 8. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 EXPERT COMMENTS ON EE • Employee engagement does not mean employee happiness. Someone might be happy at work, but that doesn’t necessarily mean they are working hard, productively on behalf of the organization. While company game rooms, free massages and Friday keg parties are fun–and may be beneficial for other reasons– making employees happy is different from making them engaged. • Employee engagement doesn’t mean employee satisfaction. Many companies have “employee satisfaction” surveys and executives talk about “employee satisfaction”, but the bar is set too low. A satisfied employee might show up for her daily 9-to-5 without complaint. But that same “satisfied” employee might not go the extra effort on her own, and she’ll probably take the headhunter’s call luring her away with a 10% bump in pay. Satisfied isn’t enough. Kevin Kruse. Forbes
  9. 9. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 • Real employee engagement means that employees are maximizing their value to the organization. • The innovators, the game changers, the industry disruptors can win the talent war in the short term through reputation. • They do this through a strong culture that is driven by strong reputation, performance orientation and leadership excellence. • 2014 Trends in Global Employee Engagement – Aon Hewitt EXPERT COMMENTS ON EE
  10. 10. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 • Employee engagement is the emotional commitment the employee has to the organization and its goals. • When employees care—when they are engaged—they use discretionary effort. • This means the engaged computer programmer works overtime when needed, without being asked. This means the engaged retail clerk picks up the trash on the store floor, even if the boss isn’t watching. This means the TSA (Airport Security) agent will pull a bag suspicious bag to be searched, even if it’s the last bag on their shift. Kevin Kruse. Forbes EXPERT COMMENTS ON EE
  11. 11. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 EMPLOYEE ENGAGEMENT INSIGHTS Real employee engagement happens when employees maximize their (own) value to the organization. 1. EE can never be bought, it must be earned 2. The culture you create or the culture you destroy will determine the success of your business 3. Helping people to gain back time is powerful 4. EE is as demanding as it is nurturing 5. A Caring boss is still the greatest driver • If employees cannot sit down and talk to their boss, it doesn’t matter how many anonymous surveys you do. 6. Discover your company purpose (Inc. Magazine) 7. Don’t sweat anonymous reviews(Inc. Magazine)
  12. 12. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 THE VARIOUS LEVERS OF EE Source: 2014 Trends in Global Employee Engagement – Aon
  13. 13. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 … NEED TO FOCUS ON ALL THREE LEGS OF A BUSINESS – THE TRIAD! • Pampering employees without considering their overall needs and requirements. (Copy cats) Costs go up, leading to management raising prices of goods / services, leading to customers leaving. Employees see the game and quickly learn to “hack” the system. Benefits become “commodity”, easily copied by competition, thus losing the power to retain talent. • Too focused on improving company productivity (only) • Pampering employees, without focus on cost CAUSES FOR EE INITIATIVES FAILING
  14. 14. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 THE BUSINESS TRIAD 1. Share Holder 2. Employee 3. Customer
  15. 15. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 THE TRIAD RELATIONSHIP • Share holder (Founder) gives idea, invests money, controls business • Share holder invites Employees to partner with him to implement the idea. • Share Holder + Employees partner to serve Customer – AND SHARE THE RISK – REWARD. • Share Holder provides Risk, Money and Time…. For uncertain, but higher benefits (dividends, capital appreciation) • Employee provides Time and Commitment…. For guaranteed, but lower benefits (Salary, bonus) Share Holders Employees Customer $$
  16. 16. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 THE TRIAD AND EE PURPOSE The primary purpose of EE is to increase the profits from customers through an Enhanced level of Partnership & Trust, by: • Exploiting new avenues of serving customers, • Learning new skills and • Innovation …and Sharing the additional profits gained, from such efforts. The onus of setting up such a new, less structured arrangement lies with the Share Holders – represented by the Leadership of the company. This arrangement will be acceptable to the employees only if it addresses the WIIFM for the employee uniquely, perfectly. When it does, it results in EE!
  17. 17. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 ENTREPRENEURIAL CULTURE • Such enhancement of the Partnership (EE) works best when the Employees behave as agents of the Share Holders, representing the Share Holders interests in every way. • Such alignment of interests results in Employees behaving as Share Holders themselves; when they take “ownership” of the responsibilities assigned to them. This is Employee Engagement at its best! • In other words EE occurs best when Employees act as Share holders or “Entrepreneurs” themselves. • This is what is called Entrepreneurial Culture!
  18. 18. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 ENTREPRENEURIAL CULTURE • No wonder companies like Google, Facebook and Twitter are re-defining Employee Engagement – even HR policies in general! The close involvement of Owners / Founders in start-ups and their working together with employees through the toughest times in a company’s history gives both employees & owners a unique perspective into each others’ lives and aspirations. This is key to developing high EE and an Entrepreneurial culture in such businesses!
  19. 19. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 WHY ENTREPRENEURSHIP? o The only strategy that can respond effectively to wildly changing situations o The only strategy that can mobilize the skills, talent, intellect, emotion and imagination of not just the owner but that of an entire team. o The only strategy that was born when Business was born, and will probably last till Business, as we know it, does ! Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE!
  20. 20. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 WHY ENTREPRENEURSHIP? Policies, systems & procedures, whether consciously put in place by Management, or evolving naturally, are covert motivators of people. They influence people’s attitudes and skills to create your corporate culture. Changing work practices will improve performance and lead to a more positive culture. Leadership therefore needs to work these four levers (3P-T); Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! 1. People: hiring, training & compensation 2. Policies & systems: Org structure, HR, Finance, Approvals 3. Processes & procedures: Paper work, communications 4. Technology: Adoption, standardization, reliance (vs parallel)
  21. 21. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 A HOLISTIC APPROACH TO EE • Understanding basic business reality. - The Business Triad • What is the mutual relationship of The Triad? • A holistic, Entrepreneurial approach that harmonises all stake holder requirements at the same time. A Win-Win for the Traid
  22. 22. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 ELEMENTS OF ENTREPRENEURIAL CULTURE o Through extensive research including 70+ interviews we have distilled nine elements of Entrepreneurship: “The Entrepreneurisms”“The Entrepreneurisms”“The Entrepreneurisms”“The Entrepreneurisms” Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! The Entrepreneurisms have been developed through a combination of Analytics & Huristics. It is also important to note that not all elements are found in all entrepreneurs. 1. Self Efficacy 2. Risk Taking 3. Passion 4. Learning 5. Realism 6. Persuasiveness 7. Opportunism 8. Innovation 9. Energy / Action Bias
  23. 23. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 CORPORATISMS THAT HURT EE? o Bureaucracy o Silos of knowledge o Low trust o “Not Invented Here” o Delays o Indecision o Lack of recognition o Lack of ownership o Weak HRM o Poor employee feedback o Corridors of influence o Weak performance management o Long Approval cycles o Limits of authority o Compliance o “Holy-cows” o Paperwork o Illicit / Spurious reporting lines o Conservative – not willing to try o CYA to stay out of trouble o Low aspirations o Unrealistic goals Do you discuss these in Board room / C-suite? Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE!
  24. 24. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 BENEFITS OF ENTREPRENEURIAL EE o Respond to market changes faster o Establish trial-feedback loop o Passionate committed employees o Focused teams o Advocating customers o Continuous product development o Tolerance for failure o Exponential growth o Super normal profits Control &Control &Control &Control & VerificationVerificationVerificationVerification FunctionalFunctionalFunctionalFunctional InterventionsInterventionsInterventionsInterventions CXOCXOCXOCXO WorkoutWorkoutWorkoutWorkout The BoardThe BoardThe BoardThe Board WorkoutWorkoutWorkoutWorkout
  25. 25. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 DEVELOPING THE TEN ES IN YOUR BUSINESS Prepare: • Agree Operational Aim • Determine scope • Form Executive Team • Agree Milestones Understand Context: • Meet the Heads • Meet the Mavens • Identify pain areas • Collect data Diagnose: • Agree AccuPoints • Identify Focus Areas • Develop solution concepts Design Solution: • Agree on Interventions • Detail solutions • Study impact • Pilot Implement: • Get Pilot feedback • Modify solution • Roll out • Institutionalize
  26. 26. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 THANK YOU! QUESTIONS? Srikrishna Vadrevu sri@sigmax-e.com
  27. 27. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 WHY EE? • Engaged Employees lead to… • higher service, quality, and productivity, which leads to… • higher customer satisfaction, which leads to… • increased sales (repeat business and referrals), which leads to… • higher levels of profit, which leads to… • higher shareholder returns(i.e., stock price) “To win in the marketplace you must first win in the workplace.” Employee engagement is the key to activating a high performing workforce. Doug Conant, Former CEO, Campbell’s Soup,
  28. 28. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 WHY EE? • Engaged employees lead to better business outcomes. • Companies with engaged workers have 6% higher net profit margins Towers Perrin research • Engaged companies have five times higher shareholder returns over five years. Kenexa research The bottom line is that, better employee engagement leads to a happier workplace! Sri Vadrevu
  29. 29. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 2014 TRENDS IN GLOBAL EMPLOYEE ENGAGEMENT – AON HEWITT
  30. 30. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 2014 TRENDS IN GLOBAL EMPLOYEE ENGAGEMENT – AON HEWITT The rising engagement of employees as they age is clearly a function of who needs whom more! Higher engagement of employees in Engineering / Production is due to sharing a vision for a product, while other functions are more commoditized across companies.
  31. 31. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 2014 TRENDS IN GLOBAL EMPLOYEE ENGAGEMENT – AON HEWITT Higher engagement of employees at the Highest and Lowest Levels of Management Engineering / Production is due to sharing a vision for a product, the company / interaction with end customers while other functions are more commoditized across companies. Best employer companies drive higher engagement, revenue growth and shareholder value
  32. 32. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 THE VARIABLES & THEIR STRUCTURE C = Change D = Dissatisfaction with present; V = Vision of what is possible; F = First, concrete steps towards the vision; R = Resistance -- David Gleicher C = (D x V x F) > R
  33. 33. Beyond Corporate Entrepreneurism 9 MANAGEMENT INTERVENTIONS TO MAKE YOUR BUSINESS MORE AGILE! © SigMax E Services, 2015 Please call us for a discussion, if you have any questions on this proposal. Srikrishna Vadrevu Email: sri@sigmax-e.com +601-2221-2553 www.sigmax-e.com : Please consider the environment before printing this document Srikrishna Vadrevu http://operations-excellence.blogspot.com/Blog Google Maps: http://goo.gl/maps/IIrYs CONTACT

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