Date post: | 29-Nov-2014 |
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A Great Place to Work® - What it
means, what it takes and why is
it important
Great Place to Work® Institute, India
GREAT PLACE TO WORK®
MODEL & FRAMEWORK
Employee
...have pride in what you
do...
Job
...and enjoy the people you
work with
Other Employees
Trust the people you
work for...
Management
Relationships are the key…..
A great place to work is one where you
3
Trust is the Key Driver…
Employee
... give their
personal best
Job
... and work together as
a team/family
Other Employees
achieve
organization’s
objectives
Management
in an environment of Trust…..
And that enables one to
Essential elements of a Great Place to
Work
Individuality is valued
Welcoming Atmosphere
Part of something larger
Two way Communication
Manager’s Competence
Integrity – Reliability of Management
Professional Support
Collaboration
Demonstrated Caring
For the Job
About my Team
With the Organization
Equity
Impartiality
Justice
T
R
U
S
T
Credibility
Respect
Pride
Fairness
Camaraderie
Two employees may have different
experiences in the same organization…
“ Oh, he is ok if you get on the right side of him”
Two Lenses
Two parameters…
Employee Response captures employee
experience through an
anonymous survey
Organization Response captures people practices
at the workplace
The best workplaces have effective people
practices that support positive employee
perception
Cu
ltu
re A
ud
it©
Sco
re
Trust Index © Score ( Employee Survey)
Lo
w
Hig
h
Low High
Culture promotes trust Transactional Culture
Good Cultural Foundation The Best Cultures
9
Why be a Great Place to Work?
“100 Best” vs. Stock Market 1998-2009
Cumulative Return
0%
50%
100%
150%
200%
250%
"100 Best" Reset
Annually
"100 Best" Buy and Hold
S & P 500 Russell 3000
224%
111%
42% 47%
SOURCE: Russell Investment Group, 2009
Performance of "100 Best“ Cumulative return in percentage terms
"100 Best" Russell 3000 S&P 500
SOURCE: Russell Investment Group, 2009. Data from Fortune “100 Best”
“100 Best” vs. Stock Market 1998-2009
Cumulative Return
Voluntary Turnover: India Top 50 vs
Industry Average
*Source – Best Companies to Work For – 2011 study
18%
6%
14%
14%
13%
21%
13%
19%
21%
17%
0% 5% 10% 15% 20% 25%
Financial Services & Insurance
Manufacturing & Production
Professional Services
Construction & Real Estate
Telecommunications
Overall Industry 2011 India Top 50 2011
Are Great Workplaces Great Companies?
11 out of 18 Companies featured in “Built to Last” by Jim Collins also feature in Great Place to Work® Institute’s 100 Best Companies to work for in America* 1.Nordstrom 2.Marriott International 3.American Express 4.Merck 5.Procter & Gamble 6. Hewlett-Packard 7.Johnson & Johnson 8.Wal-Mart Stores 9.3M 10.IBM 11.Motorola
* Published by Fortune magazine in US
Roadmap to become a Great Place to Work
THE JOURNEY…
©2010 Great Place to Work® Institute, India. All Rights Reserved
Our Methodology
Laying the Foundation People Philosophy
Institutionalize- Building the Roof Employer Brand
Strengthening the Foundation Building Key Differentiators
Building the Pillars Building People Manager Competencies
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.
FedEx : P-S-P
Phase 2 : Strengthening the
foundation
The “differentiators” in a great workplace:
Equity Reliability
Impartiality Caring
Phase 3 – Building the Pillars – creating
great people managers
Employee Experience
People Practices
1.Hiring 2.Welcoming 3.Inspiring 4.Speaking 5.Listening 6.Collaborating 7.Redressing 8.Thanking 9.Developing 10.Balancing (Caring) 11.Supporting (Caring) 12.Including (Caring) 13.Celebrating & Enjoying 14.Rewarding (Sharing) 15.Contributing (Sharing)
HR Processes •Recruitment •Induction •Performance Management •Employee Communication •Training •Rewards and Recognition •Talent Management
Manager’s Competence •Employee engagement •Communication •Goal setting and Feedback •Coaching skills •Appreciation and Recognition •Quality management •Conflict resolution
What is missing in current modes of
training?
1. Only focuses on skill building
2. Absence of practical tools and techniques to drive change
3. Not clearly measurable in terms of improvement in workgroup results
4. No focus on managers actions around people practices
5. Inadequate follow up mechanisms to ensure change
23
The Giftwork for Managers
Proposition
24
INFORM
EQUIP
EMPOWER
Employee Survey
Manager Scorecards
Recognize the best managers
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 and
institutionalizing your employer brand/
employee value proposition
Factors have a disproportionate impact on overall employee sentiment 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 distribution
3. Creating a fun place to work – A young India and a young workforce want to enjoy their work life and their time at work.
India’s Best Companies 2011
To participate in India’s Best
Companies to Work For – 2012 Study
Register at www.greatplacetowork.in
Or, write to