An organization’s strength is its people. The small, medium, or large organization no matter the size, is the people (employees) who are integral to the success of the organization and keep it going on.
Changing workplaces presents new challenges to employees and employers alike as stakeholders attempt to steer the introduction of new technologies amidst a dynamic business environment
Sriram Kameshwar, Executive Director, M&G Global Services, divulges the macroeconomic outlook of the financial services industry particularly shedding light on employee experiences.
How could firms in the financial services sector improve employee experiences?
We have launched several initiatives to improve employee experience in our firm. We have embraced hybrid working and given our employees flexibility to choose their place and time of work. We have streamlined our onboarding process to ensure that our new joiners are able to settle quickly into their roles and are able to access the tools and support they need to work comfortably. We have invested in equipping our people managers to be exceptional in how they manage and lead colleagues. We have taken tangible steps to build a more diverse team and inclusive culture in the organisation. We have built a culture of giving and receiving feedback and more importantly, acting on the feedback received. We have a cross-functional team of volunteers that are very active in engaging colleagues in celebrating festivals, indulging in sports and participating in fun events.
The above is not an exhaustive list of all we do, but we do believe that these initiatives can help in improving employee experience.
What role do leadership and management play in employment excellence?
Leadership is all about helping people to be the best they can be. To create an atmosphere of employee excellence, the tone has to be set right from the top.
As someone wisely said, when employees are not performing well, many times, it is not about changing the employees, but changing the environment around them, the factors that impede them from performing. Leaders and managers have a pivotal role in creating the right culture to communicate the company’s vision and purpose clearly, and motivate and inspire employees to excel individually and outperform collectively.
Do you agree that maintaining a healthy work-life balance increases employee performance and retention?
People need to be healthy and happy outside of work and at work to be able to perform at their best. And people who are happy at work and feel cared for by the company tend to stay in the company. Companies that actively work to promote balance will get better performance and retention. In M&G Global Services, in addition to supporting flexible working practices, we help our employees with physical and mental health aspects through regular well-being newsletters, health awareness drives and mindfulness/yoga sessions. We have trained mental health first aiders and confidential employee assistance helplines. Feedback from colleagues and empirical data tell us that these measures are helping to improve employee engagement and retention levels.