Diversity can ignite business ideas
A people-centric approach within the company helps build a motivated and positive workforce in the same way that customer-centricity facilitates external business expansion.
KPMG International’s Global CEO Outlook Survey 2016 suggests that talent management is one of the top priorities for Indian CEOs. The top three strategies that CEOs employ to attract talent are: opportunities to learn, develop and work with the best in the same field (35%), flexible work arrangements (30%), and the chance to innovate or work in a collaborative environment (30%). While financial incentives are a positive trigger, 42% of business leaders advocate devising effective non-financial incentives such as employee benefits and suitable vacation time for highperformers.
As per the survey, 50% of Indian CEOs want to streamline internal processes, and 34% of them want to hire talent in order to accelerate the execution of their strategy.
The challenge for CEOs here is to position the company as a workplace that is relevant to its new-age employees. The millennials or Generation Y tend to be an enthusiastic lot, driven by their exposure to diverse information which in turn makes it a herculean task for companies to develop a work environment that keeps them motivated. Organisational policies such as flexible work hours, work from home, flexibility to pursue personal passions, work-life balance, sabbatical leaves are a few best practices that can help develop a positive work culture within the organisation.
However, when it comes to diversity and inclusion only 14% of CEOs responded positively. In a volatile market, companies need to sustain human resources in a smarter way than usual. CEOs must understand that investing in human resources can help companies keep pace in a globalised world. I believe that bringing in diversity at the workplace, proliferates an organisation’s performance.
Diversity ignites a variety of business ideas that can be aligned and executed to deliver a successful performance for the company. Inclusion is necessary to get this diverse workforce to function together effectively. This practice involves catering to the individual’s need to be valued, respected and supported at his / her work place. It helps to develop strong work relationships within the organisation, and also helps employees across the spectrum to realise their true potential.