The Reflection Of Management Finance | General Management | Health Care | Human Resources | Marketing | Operations | Systems
IN A DIALOGUE WITH MR. SHYAM MALLER SVP –SALES AND MARKETING VOLVO EICHER COMMERCIAL VEHICLES
COVER STORY ENTREPRENEURSHIP – THE B SCHOOL WAY BY GAURAV PATOLE, WELINGKAR INSTITUTE OF MANAGEMENT, MUMBAI
October - November Issue
A Student Initiative
T. A. PAI MANAGEMENT INSTITUTE Manipal, Karnataka
About TAPMI T. A. Pai Management Institute (TAPMI) is a premier management institute situated in Manipal and is well known for its academic rigor & faculty-student interaction. The Institute has been recently ranked amongst top 1% of B-schools in India and 2nd in the South Zone by The Week Magazine. Founded by the visionary, Late Shri. T. A. Pai, TAPMI’s mission is to provide a much needed impetus to the task of building professional management capability in the country. In the process, it has also played a role in strengthening the existing educational and health
infrastructure of Manipal.
Our Mission “To excel in post-graduate management education, research and practice”. Means:
• By nurturing and developing global wealth creators and leaders. • By continually benchmarking ourselves against best in class institutions. • By fostering continuous learning and reflection, achievement orientation, creative interdependence and respect for diversity.
Value Bounds:
• Holistic concern for ethics, environment and society. PRATIBIMB | OCT-NOV | 2
DIRECTOR’S MESSAGE
I feel honored and delighted to present this issue of Pratibimb. The current editorial board has done a good job keeping up the beat set by its predecessors. The tint of competition the magazine brings has attracted literary brains from different management colleges across the country and this is evident from the number of responses the team gets for every edition. I can foresee the path of the magazine and am sure in the near future it would become a ready-reckoner guide for the recent advents in the management field. With a positive ray of hope and wishes, I congratulate the team and its supporters for bringing yet another worthy literary work under the name of TAPMI.
Dr. R C Natarajan Director, TAPMI
PRATIBIMB | OCT-NOV | 3
FROM THE EDITOR’S DESK Welcome to a whole new read of student researches, expert views and faculty opinion. In the cover story of this issue of Pratibimb we bring you insights into what B-schools in the country do to foster Entrepreneurship; substantiated with success stories of Business graduates-turned entrepreneurs. Don’t be surprised if you end up reaffirming your belief that ‘Yes, I Can!’. The world of Analytics is booming! Be it Diagnostic, Descriptive, Predictive or Prescriptive, analytics is beginning to be the inevitable component of today’s business. Read about how Workforce analytics is emerging as a tool that will enable companies to optimize human capital needs.
THE TEAM STUDENT EDITORIAL BOARD Aditya Tirumalai Krishna Chaitanya Y.
Kanika Lungani Mahesh Ramesh Deshpande Siji Elza George Sophia D’cruz FACULTY ADVISORY BOARD Prof. Aparna Bhat
Prof. R C Natarajan
Get an insight about what marketing strategies drive Makemytrip.com - the company that has transformed the idea of travelling over the last decade. The in-house article cross examines the practices, the key drivers and the global trends of employee engagement. We introduce you to Ms. Aparna Sharma, Country Head-HR, Lafarge India, and Mr. Atul Mohan, Head – HR, Bluestone.com. See what they have to say about commitment, risk taking abilities, attitude and the competencies that are required to increase your employability index! We also have on board Mr. Shyam Maller, Senior VP- Sales & Marketing, Volvo Eicher Commercial Vehicles. His experience personifies itself as he opines about the challenges of Make in India Campaign. Compliments to the team of editors for their good work as they continue to grow in their efforts to consolidate and disseminate valuable reading to the family of business scholars! We hope this year has been an intellectually thriving one! Wishing you a Good New Year as well!
Prof. Seena Biju
Keep reading, Keep reflecting!
Prof. Vidya Pratap
Dr. Seena Biju
Prof. Vinod Madhavan
Ex-Officio Editor-in-Chief
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CONTENTS Cover Story
ENTREPRENEURSHIP – THE B SCHOOL WAY
7
GAURAV PATOLE WELINGKAR INSTITUTE OF MANAGEMENT
Student Chronicles WORKFORCE ANALYTICS – NEED OF THE HOUR
10
SANDESH CHINDARKAR SIMSREE
MAKEMYTRIP – MARKETING STRATEGIES REVIEW 12 VIVEK KUMAR SAHU, ARUN KUMAR C. INDIAN INSTITUITE OF MANAGEMENT UDAIPUR
EMPLOYEE ENGAGEMENT – RELEVANCE AND THE WAY AHEAD
16
ACHALA P BHAT T. A. PAI MANAGEMENT INSTITUTE
Corporate Edge MR. SHYAM MALLER, SVP – SALES AND MARKETING VOLVO EICHER COMMERCIAL VEHICLES INTERVIEWED BY – AYON KUMAR
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21
CONTENTS Corporate Edge
MS. APARNA SHARMA, COUNTRY HEAD – HR
24
LAFARGE INDIA INTERVIEWED BY – PALLAVI PRASAD
Alumni Connect MR. ATUL MOHAN, HEAD – HR BLUESTONE.COM INTERVIEWED BY – AYON KUMAR
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Cover Story
ENTREPRENEURSHIP: The B-School Way “Yes you can!” Gaurav Patole, WELINGKAR INSTITUTE OF MANAGEMENT, MUMBAI
CONTEXTUAL INTRODUCTION – ABSTRACT: How many of you black suited youngsters join an MBA course with a clear mindset of starting your own venture after 2 years? The answer will be a very few. We are more interested in getting a top notch MNC job rather than investing in a startup. But, slowly and steadily, Entrepreneurship buzz has started trending. Originating from the French word entreprendre, which means “to begin something”; an entrepreneur is a person who, armed with a potentially good business idea and the courage to take risks starts a new venture or a “start-up”. Today’s youth want to be independent, brings a change, serve the society and of course, earn big money. This is an attempt to enthuse the feeling of Entrepreneurship by explaining various B-School platforms. “If they can, yes you can!” B-SCHOOL PLATFORMS: In order to promote Entrepreneurship, many B-schools across the nation have started to implement various platforms. Few of them are listed below.
Entrepreneurship Cells
B-Plan Competitions
B-school Platforms
Government Initiatives
Innovation Labs
ENTREPRENEURSHIP CELLS (E-CELLS): Entrepreneurship Cells, or more popularly known as E-cells, are student-led bodies that support and promote entrepreneurship on campus through a wide variety of activities. E-Cells provide opportunities to students to evangelize their skills and talent in the field they wish. Also, these E-cells regularly organize “Round Table Conferences” wherein successful entrepreneurs from various industries are invited at the campus to share their start-up experiences with the students.
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Cover Story BUSINESS PLAN (B-PLAN) COMPETITIONS: A host of competitions are organized every year in various B-schools in the country. To provide a right platform and support for students with great ideas, these B-schools organize their own B-plan competitions where eminent panel from various sectors are invited to judge various start-up ideas from the students. Such competitions help students to get some funding in the form of prize money to ground-off their projects. Example: IIM- Bangalore organizes a B-Plan competition named “The Next Big Idea” which is sponsored under aegis of Government of India. GOVERNMENT INITIATIVES: A positive vibe is visible in the economy as the new government has decided to promote Entrepreneurship to create millions of jobs in India. A new council named ‘Entrepreneurship, Management Services and Training Sector skill Council’ will soon be launched by National Skill Development Corporation to target unemployed youths from various MBA and other degree colleges. They will train the youth to acquire generic skill sets to either get ready for a job or start their own business. INNOVATION LABS: Innovation has become a critical factor for any organization to survive in today’s rapidly changing technological environment. The key areas of focus for these labs are to help startups improve their ability to analyze and solve problems, and innovate, using design-thinking methodologies. The initiatives like these serve as a space for students to brainstorm and prototype their ideas.
FAMOUS START-UPS BY MBAPRENEURS – SUCCESS STORIES: TaxiForSure.com Founded in 2011 by Radhakrishna and Raghunandan G, both IIM-A graduates, TaxiForSure.com is an online platform through which consumers can rent taxis. The company has risen over $4 million of funding from various investors and is expected to earn revenue of Rs 100 crore by fiscal 2015.. Quikr.com Quikr, founded in 2008 by IIM-C graduate Pranay Chulet is India’s no.1 online classifieds platform where people can connect with each other to buy or sell goods and services. Quikr was the only classifieds platform to be featured in top ten ‘Best E-commerce Brands in India Amongst Youth’. NanoHealth Ventures
NanoHealth venture is one of the most innovative social enterprises in India; it seeks to offer affordable healthcare services for India’s urban poor. Pioneered by Manish Jain, student at Indian School of Business, NanoHealth won the prestigious “HULT Prize 2014”, the world’s largest business school competition.
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Cover Story FEW ‘ON THE GO ENTREPRENEURSHIP TIPS’ FOR B-SCHOOL STUDENTS: -The best reason to start any business is ‘to make meaning’. Remember, if you make meaning, you will make money. - Keep your Mantra or Mission Statement short and easily memorable. - Find a few effective companions. ‘If you are a great marketing person, you need a great operations person’ to get that right balance in your start-up.
-Follow 10/20/30 (10 slides, 20 minutes, 30 point font) rule while pitching in your ideas in front of investors or mentors. -And the most important – ‘Think Big’ and don’t listen to people who tell you it can’t be done. “If many can, then yes, you can!”
References: [1] Guy Kawasaki. (2004). The Art of the Start, (New York, USA) [2] The Economic Times Publication Articles – various dates and authors
[3] Website of the ‘National Skill Development Corporation’ -(http://www.nsdcindia.org/) [4] Website of ‘National Entrepreneurship Network (NEN)’- (http://nenglobal.org/) [5] Website for B-school information and Statistics – (http://www.mbauniverse.com/)
PRATIBIMB | OCT-NOV | 9
Student Chronicles
WORKFORCE Analytics: Need of The Hour Sandesh Chindarkar, SIMSREE
CONTEXTUAL INTRODUCTION – ABSTRACT: No dimension of an enterprise is more important than its people. It is the most decisive and the most important factor for success. Any product in reality is the sum and substance of intangibles – human ideas, transformed into something tangible- a commodity. Workforce analytics is the comprehensive and continuously assembly and evaluation of data on “who is doing what?” and “how well” in an organization across the country and around the world. It is a strategy implemented to extract maximum out of the workforce. It is not only about monitoring the performance but also about analyzing and motivating it. It is a technology to gain visibility into the organization’s largest single expense- the flexible workplace. Workforce analytics enables companies to identify human capital needs before they even arise and efficiently allocate the resources to projects. For any business function to perform outstandingly, it is important to match goal of the organization with the goal of that function. Any organization looks forward to earning maximum returns on minimum investments. In workforce analytics, data is used to find out effectiveness of particular investment made in some strategic moves. Determine critical outcomes Measure and adjust
Create cross functional data teams
Build program and execute
Asses outcomes measure Analyze data
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Student Chronicles Some of the strategic advantages are• Monitoring various performance initiatives • Measuring returns on particular initiatives • Identifying critical business matrices • Procuring accurate data with ease DETERMINE CRITICAL OUTCOMES: An organization must first determine the top two to three most critical outcomes on which to focus. For example, outcomes such as productivity, turnover and customer satisfaction are the most commonly desired ones- but these are not end of the list. Financial indicators, costs and safety related data are all outcomes that can be connected to employees. CREATE CROSS FUNCTIONAL DATA TEAMS: Next, the need to identify various owners of outcome data shall arise. The data owners become the key members of a cross functional data teams that needs to be organized. This team should consist of measurement experts and HR leadership. ANALYZE DATA AND BUILD PROGRAMS: Analyzing includes finding statistical relationship between various components. It can include structural equation and modeling. This component includes 3 steps• Understanding the relationship between employee initiative ,skills, behaviors, attitudes and meaningful business outcomes • Prioritizing types of intervention • Calculate expected ROI to determine levels of investment and returns MEASURED AND ADJUST: In the last step, re-measurement to assess progress and calculation of actual return on investment is important. Business leaders understand the importance of goal setting and measurement. They also understand the importance of creating a cultural of measurement and accountability. Like other organizational decisions, leaders should make slight adjustments to initiatives along the way based on regular measurement. Understanding the often shifting requirements of human capital and their relationship with long-term business strategy is a senior executive conversation and one that should be couched in a rigorous, fact based analysis of workforce performance. This could well prove to be challenging for most HR professionals since only small percentage are currently using sophisticated analytics to assess human capital performance. An economy that has never been more complicated demands a more comprehensive commitment to measuring the most fundamental ingredient in the success or failure of any enterprise: people. References: [1] Society for Human Resource Management - http://www.shrm.org/india/
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Student Chronicles
MAKEMYTRIP: MARKETING STRATEGIES REVIEW
Vivek Kumar Sahu & Arun Kumar C INDIAN INSTITUTE OF MANAGEMENT, UDAIPUR “Make my trip” …..Memories unlimited Glories of travel in new way …….. There is no substitute of travelling, one of the best ways to discover the imperativeness is vacation. Traveling is something which makes me excited every year, being it from sightseen of exotic Goa to fantasize myself standing in front of mammoth earth pyramid structure in Egypt. Travelling around the world is a not less than a dream for many and Makemytrip emerged as a platform to keep their dream alive with easiness. Travelling is something, where consumer perceptions are different and marketer generally deal with the best memorable moment of their life, some could be long planned honeymoon trip and thus close to their hearts and making their journey fulfilled and elated is utmost important for marketer. Thus industry continuously fine tuning their strategies to meet radical change in customer requirements. Makemytrip truly empowering the traveler and revolutionized the travel industry ever since. SAGA OF DREAMS:The quick and reliable travel services had been a dream few years back but increasing penetration of internet in fast paced world gave a new dimension to many businesses. In the midst of e-commerce booming, Deep Karla spotted the online travel opportunity in 2000 to deliver customer loyalty through Digital marketing strategy.
Makemytrip was new and unique concept of selling flight tickets through multiple channels. The objective of this strategy to convert long sweated experience in queue to one clicks solutions – ultimate ease for the user. The driving growth factors in the combat OTA industry were by creating a difference through unique customer experience. Initially target segment was NRI customer, specifically those seeking an economical ticket to visit home. The margin of selling air tickets was low considering the availability of air tickets in respective websites. PRATIBIMB | OCT-NOV | 12
Student Chronicles To expand the business, Makemytrip seized the Indian market in 2005 in low cost carrier. Soon the company shifted their strategy by bringing more customers enhancement experience in their offering including holiday packages and tours (domestic and international) as well as hotels accommodation. With the vision of making travel easy Makemytrip created special marketing offers for MICE (Meetings, Incentives, conventions and exhibitions) travellers, corporate travel, group tours, domestic bus tickets, travel insurance, travel related services such as foreign exchange and visa assistance etc. To enhance customer value proposition further, the rail and air ticketing services extended to roads considering it as a prime mode of transport for lower middle income group in India. Makemytrip kicked off SMS based bus ticket booking which took the user experience completely new level. One such instance of embedding flight comparison software in the website that fetched real time fares gave users rib-tickling experiences. The major attributes that differentiates Makemytrip from its competitors is development of cutting edge products. Its continue innovation and focus on customer experience help Makemytrip to hold market leader position in the industry. Over 50% market shares, it’s the single most recognized and trusted player in OTA industry. ROUTE PLANNER:Makemytrip realized the internet penetration and believed that internet credibility couple with falling rates of air travel helps OTA to huge success. They started keep on adding innovation in their online portfolio. Their innovation touched more than 1 billion routes and through route planner helped smart traveler to make decisions. Makemytrip never failed to do innovation and that was the reason that it was first in India to launch a mobile application even before the radical development of smartphones. The unique selling features of Makemytrip in travel industry was its innovative features, irrespective of the economic slump or inflation, Makemytrip was always successful to draw the attention of customer in its favor. Innovative features like ‘easy pay’ enable the customer to make part payment in certain product category including international air tickets and ‘Pay at hotel’ with non-refundable fees ensure the booking confirmation and allow making payment during check in the hotel. Another unique feature is ‘last minute hotel deals’ offering hotel booking at least discounted prices. This feature was not implemented by other competitors and gave Makemytrip an edge in travel market. In order to increase awareness among non-internet users, Makemytrip camp up with several offline activation including association with HPCL and other retail outlets. Makemytrip started 23 company-owned franchisee and travel shops in select cities to leverage offline mode. Makemytrip tweaked its strategy a bit by gaining revenue through offline initiatives considering the fact that Indian market is not fully equipped in online platforms. VALUE PROPOSITIONS (FOR THE COMPANY, BY THE COMPANY AND TO THE COMPANY):Makemytrip positioned as one stop solutions for all travel needs. It offered the best deal on travel based product and service combined with unique technology and dedicated customer services. Makemytrip brand was well placed in consumer’s mind to offer fast, comprehensive and trusted services.
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Student Chronicles Makemytrip spearheaded the travel business with ease of booking and reservation offering at hard-to-believe prices. Makemytrip offered convenience buying option anytime and anywhere with 24*7 customer service. Makemytrip also ensured ticket delivery and collecting payment against delivery at doorstep that empowered the travelers with enriching experiences. Considering the diversification of consumers, Makemytrip offered various short holiday stay at all price points. It provided user to book any air ticket or hotel room almost anywhere in the world, around the clock and generated an e-ticket or hotel voucher instantly. Customers had wide ranging option to choose its versatile services, e.g. Makemytrip in partnership with ABN Amro, co-launched the popular Go-card that offer a wide range of domestic as well as international travel services and exclusive offers in airlines, hotel and holidays. MakeMyTrip.com has travelled so far in industry for its unblinking focus on 3 core values: Integrity, customer centricity and accountability. DREAM CAMPAIGN:Makemytrip succeeded not only by innovation but also developing an emotional connect between its customer and brand. They equally focused on communications and some brilliant campaign like “Memories unlimited” won many hearts. In their dream campaign, company took an interesting move when they used matrimony platform to promote their honeymoon packages. Company increased sales by targeting potential customers through multiple brands building campaign like sweepstake campaign and IPL themed television campaign. Makemytrip read the customer reaction towards advertising campaign and strategically developed a low fare guarantee claim “If you find lower fare then we pay the difference” and an alluring slogan “Hamne Toda Vaada Toh Pay Only Aadha” (If we break a promise, pay only half), this kind audacious campaign not only served the purpose in favor of them but also helped to gain the mass attention of consumers. To promote the lowest airfare guarantee, Makemytrip has done several viral campaigns to create excitement in the market. A manifestation was done through “Wish, Click and Go” Boasting the same vein of confidence in its product, the brand also made a spectacular offer “Plane Ka Mazein ab Train Ke Daam Mein” (The ecstatic of air travel at the price of a train ticket). Since the major part of revenue came from existing customer, Makemytrip used analytics efficiently to increase the reachability to existing customers by sending promotional offers, discounts and new product launches through personalized email and SMS on regular basis. It chose the two English channels (CNBC, NDTV), 4 infotainment channels (National geo, AXN, Discovery and Discovery travel) and 3 movie channels (Star movies, zee cinema and HBO) for saturating target audience and getting highest viewership. Makemytrip also leveraged social media platform to increase its customer base through Facebook and twitter by bombarding various theme on specific occasions. Their brand promotion in increasing network became successful as their strategy did not restrict to only target audience. STRATEGIC PARTNERSHIPS:Interestingly Makemytrip reduced the competitions by focusing on seamless integration with various partners, company paving a path to increase the value element in their offering by acquiring top players in the market.
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Student Chronicles The key challenges for the company to enhance its offering in the digital market to integrate diverse acquisitions through travel partners and financial partner. Makemytrip provided premium offering to its joint customers through acquisitions from HT group, ITC group and other travel agencies. Also through alliance they targeted to increase the presence, an instance of Ticketvala, Bangalore based venture acquired by Makemytrip, they increased more presence in tier-2 and tier-3 cities through Ticketvala agent terminal. CONCLUSIONS:The strategies practiced by Makemytrip help the company to get an edge over other players. Since its first mover advantage and competitive advantage helped it to hold a leadership position but increasing competitions from cleartrip, yatra.com, travelguru and travelmasti can make the situation a little gloomy. Low internet penetration in India making business stiffer for OTS to reach to mass market. They need to figure out what entices customer to avail the offers. Learning the micro need of the customers and their expectation and simultaneously through various viral campaign, there is a need to educate (http://www.makemytrip.com/, Makemytrip) the customer. The next course of action will be critical in terms of operating the business to greater heights. References: [1] Makemytrip website (http://www.makemytrip.com/) and Makemytrip Wikipedia (http://en.wikipedia.org/wiki/Makemytrip) [2] E-commerce in India: Trends, Opportunities and challenges (http://indiaadvisoryboard.com/e-commerce-in-india-trends-opportunities-and-challenges/) [3] Subroto Bagchi,"Deep Kalra: Making His Own Trip", Forbes India, March 23, 2010(http://forbesindia.com/interview/zen-garden/deep-kalra-making-his-own-trip/11462/1) [4] Makemytrip launches comprehensive mobile suite, The Hindu Business Line, July 11, 2012(http://www.thehindubusinessline.com/marketing/makemytrip-launches-comprehensivemobile-suite/article3627559.ece)
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Student Chronicles
EMPLOYEE ENGAGEMENT : Relevance and the Way Ahead Achala P. Bhat T. A. Pai Management Institute Manipal
INTRODUCTION – ABSTRACT: Practitioners and academics have always debated that a workforce that is highly involved and dedicated to work can create competitive advantage. This claim has been long debatable and also has been a subject of thorough analysis. If people are engaged, the leaders can attain those business objectives that are critical to improving organizational performance and hence achieve organisational goals effectively. The larger the organization, the more complex the system of interactions that impact people every day. Due to this removing all the stress and struggle from the workplace is a herculean task—and not even desirable since a certain amount of stress serves as a catalyst for growth, achievement and change. Leveraging all these concerns in the most optimal way is one aspect of employee engagement. What do we mean by employee engagement? What are the factors that affect it? What are the measures to enhance them? These and other questions are the focus of this article LITTLE ABOUT THE BACKGROUND: If we can’t reduce the complexity of work, what can we do to enhance employee attitude and keep them motivated to work? Employers have tried everything from anti-depressants to unlimited vacations, with not much rewarding results. One of the most prominent findings in their research is the fact that relatively happier employees have quite much stress at work– even when their work is exactly as rewarding as their co-workers’ jobs. They’re also more focused, have a more optimistic approach and are willing to contribute more. Few observations in accordance to this were noted, In a research work by Scott Leith to improve Employee Outlook and Motivation. They segregated a sample set of employees into two sets and asked them to complete a brief survey about their state of mind, distress levels etc. Before the employees could record their responses,50% of the sample was given a brief task to identify and note down something positive in five different spheres of life – work, relationships, emotions and different spheres of personal growth.” Noteworthy differences in the responses existed given by the two groups.
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Student Chronicles Here’s what they found: •37% of the respondents did not complete the task whereas 3% of respondents indicated that they were in distress at work. •16% higher rate of happiness was recorded amongst the respondents than the ones who didn’t complete the task. •65% of those who completed the task claimed to have attained “High Focus” compared to 15% of those who didn’t complete the task.
•Those who completed the optimistic task expressed that they had more positive perception of their work. •The ones who completed also claimed to have elated spirits and rated their overall Life Satisfaction at 16% higher than the control group. The results of this study brought to forefront the fact that something as simple as reflecting employees with the many positives in their lives works effectively to improve their interest levels cascade the benefits. HOW DOES EMPLOYEE ENGAGEMENT MAKE A DIFFERENCE?
Employee engagement has a profound impact on the mindset of people. Engaged employees believe that they can influence or be an active component of the organizations they work for. High confidence in the acumen, skill sets, and abilities that people possess, serves as a powerful indicator to predict the behaviour and subsequent performance of the employees. Let us look into some of the results of the Towers Perrin 2005 Global Workforce Survey conducting a survey on close to 85,000 people working as a full-time employee for large and midsized firms: •Amongst the highly engaged employees, 84% claimed that they can positively influence the quality of their organization’s products, whereas for the employees that are disengaged, this percentage was only 31%. •72% of highly engaged employees believed that they can improvise the customer service. This percentage with disengaged was just 27%. •With regards to the cost at their job ,68% believed they can positively influence them in their job , compared with just 19 % of the disengaged counterparts. With the help of this data, it is not difficult to understand that companies that do a better job of engaging their employees do outperform their competition. TRENDS IN GLOBAL EMPLOYEE ENGAGEMENT When discussing the trends, we throw light upon the areas that are more important to improving engagement than others. This will not only help us in knowing which are the components we should be focussing upon majorly but also help the organisations in formulating the corresponding strategy. The table below explains the top employee engagement drivers across the globe after conducting a survey across 3000 client organisations by Aon Hewitt in 2014.
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Student Chronicles
Source – 2014-trends-in-global-employee-engagement-report, Aon Hewitt. This table clearly shows that, globally, employees perceive career opportunities as the prime driver to keep them engaged. This serves as a pointer to the fact that employees are more considerate about their growth in the organization than anything else. The preference for these drivers again varies across different generations of employees as each one has their own priorities due to varying life stage. The below table from the same survey elucidates that –
Source – 2014-trends-in-global-employee-engagement-report, Aon Hewitt
We observe that as time passes by in an organization, the matters of recognition and innovation take a forefront. Millennial prefer to trade this off with a good pay.
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Student Chronicles HOW DO WE ENGAGE? Let us now explore into the avenues through which we can amplify employee engagement in organisations. The ones listed below indicate the most optimal ways in which we can enhance employee engagement. 1. Developing a bond – Leaders must first make sure that the employees get the freedom of sharing a bond with the organisation. This can be done by initiatives like profit sharing or helping to develop a work life balance ones. 2. Career opportunities – Employees always look for some meaningful and challenging work with opportunities for career advancement. Organisations must not only provide challenging opportunities to the employees, but also the necessary confidence they require. Accomplishment of challenging tasks can serve as a solution to this. 3. Right Feedback – Employees are always inquisitive as to how their input matters to the organisation. This can be well complimented by giving the right and immediate feedback to the employees. This would not only boost their confidence, but also provoke them to deliver excellence in their task. 4. Collaboration – Managers must also ensure that an environment conducive to trust and collaboration amongst the teams is assured. Surveys indicate that being cared about by colleagues confirms the presence of an efficient employee engagement.
5. Credibility – Company s high ethical standards and performance matter a lot to the employees. No employee would want to be associated with an organisation that does not accord for values that are not perceived to be noble. E.g. WestJet Airlines , in 2005 was a company where the employees of the company held 80% of the shares of the company because they were so sure of the exemplary performance by the organisation and perceived the company to be following its laid down mission. RECENT TRENDS IN EMPLOYEE ENGAGEMENT Manager Engagement – One of the initiators of effective employee engagement is a manager who is himself enthusiastic and enough engaged to work towards this task. Only then can we strategise various decisions for employee engagement and work enthusiastically towards it.
Recognition ambassadors – These are those angels that see the value in recognition and are willing to champion it among their peers. Segmented rules of engagement – We observed from the previous data tables that employee engagement is the trait that differs for every section of the employee. It would be highly recommended for any task culminated for employee engagement to be directed towards a particular segment, rather than a common one for the entire organisation. Reward Selection – This is as important as giving rewards at the right moment. The best way to keep the employees highly engaged is to offer diverse and eclectic array of awards ranging from merchandise, travel, entertainment and experiences. This will not only encompass a wide range of interests of employees but also make sure a substantial chunk of them is happy. Global Exposure/Recognition – Organisations these days, have their spread across the globe. With diverse opportunities to visit and work at different places , the employees can use the cultural influences to optimize their performance.
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Student Chronicles CONCLUSION The article argues and emphasizes, why employee engagement is one of the most important factors, we need to pay attention to in today s context. It explains its background and brings out it relevance with the help of statistical data. It also discusses the significance with the help of a Global Workforce survey that was conducted in 2005. The trends of employee engagement differ across different life stages of employees and also across sectors. The differences across the life stages are discussed in the article. The article, then ,migrates to the central theme and gives the topmost solutions to engage the workforce. However, we also have some latest and recent trends of employee engagement which we need to acquaint ourselves with, since they are the ones which are hit favourites, considering today’s context. Leaders, should not only try and identify how engaged the workforce in their organisation is , but also foresee behavioural strategies that will nurture engagement in totality. Moreover, with implementation of engagement strategies, it is also necessary to sustain them with minimum effort. Managing all of these, poses one of the conquests, HR professionals face today.
References: [1] 7 Ways to Keep Your Employees Happy . (2013, September 8) . Retrieved from website www.forbes.com [2] What Engages Employees The Most or Ten C’s of Employee Engagement. (2006, April ). Retrieved from website www.iveybusinessjournal.com [3] 2014-Trends-In-Global_Employee-Engagement (2014) .An Aon Hewitt Report.
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Corporate Edge
In a Dialogue with
Shyam Maller Senior Vice President – Sales and Marketing Volvo Eicher Commercial Vehicles - As spoken to Ayon Kumar Q: How are you finding Manipal? You’ve been here? Yes. I must confess the fact that I’m born in Bangalore and coming to this part of the world is a sense of déjà vu really. It is so good to be here. In fact I came here last year for recruitment, campus recruitment. I think we picked up a guy. Good to be here and nice to see this campus and of course, Manipal goes back in time in being one of the first, literally, I think a city built around a campus. And that’s what is eponymous for right now. So it’s good to be here; I love the campus; great scenic place, very warm people. In fact Saurav, the coordinator has been engaging with me quite I think fantastic quite well and of course, really, really I would say without being very intrusive. He’s being quite persuasive to get me here. I love the way that TAPMI is treating me. Q: You started your work with Eicher and you carried on with Tata Motors etc. In between I saw there was this Infosys BPO thing. So was that a conscious decision for you or like it just happened? First of all, I must say that you’ve done a lot of research before coming in here. It’s good. I think that was a diversion which I took and I won’t say really it was conscious or it was the right one really. From Tata Motors the previous, last one was when I was the CEO of Concorde Motors and I wanted to run a business myself so which I did very successfully. Then I moved out for a reason and changes that happened within Tata Motors. But then this stint in Infosys which is probably the only one which I guess is a slightly different is because 2 of my ex-bosses of Eicher were there in that company and that’s where it is. For me while it was not, I would say, very synergistic with my earlier experience but the great learning that I had was working for an excellent company – Infosys, being what it is. So those were just 2 years, then I realized that that part of the business was not really my cup of tea. So while the experience was worthwhile, I don’t think it really gelled in with the automotive thing that I wanted to do which is why I moved out and then I got into this company; this Swedish company which wanted to set up its shop in India. That’s how it is. Q: Sir, given the “Make In India” campaign that is going on right now that the Govt. is trying to boost manufacturing etc. How do you see it coming up in the coming years as we have already come down a lot in the manufacturing field; we are lagging behind in comparison to countries like China. According to you what are the major factors that are holding us back and what can be done further to boost the manufacturing in this country? I must dispel this notion or the fact that we are not so great in manufacturing. Sometimes comparing yourself with China is not the best of things in world. But I must give you a very Eicherish example. India continues to be what the frugal manufacturing base is for any multi-national across the world. I can give you an example of the fact that the reason that our joint venture is working so well over the last 6 years. We signed the JV with Volvo in July 2008; it’s working extremely well is because they found that what we have as a strength into this JV is the fact that
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Corporate Edge one is we obviously know the Indian market and second is they know that we are good at frugal engineering. When I say frugal engineering, it also means manufacturing as well and how has this played on over the last 6 years or 4 years. We have put up a plant for manufacturing state-of-the-art engines for trucks in Pitampur, which is where we are based and this is again a 50-50 JV with Volvo. And this plant has become operational last year and we’re making Euro 6 engines which we’re exporting back to Volvo trucks. These are being used over the last 1 year. So we make almost 2000 engines a year. So what does it mean? It only says that we have a very good manufacturing talent available. I’m talking about people, R & D. These engines were also developed jointly with Volvo with teams from – you know it’s a multi-national team – Chinese guys or Volvo guys from China, Japan, South-East Asia, and France – because Renault is a brand of Volvo trucks, and Sweden. So, we jointly develop or design this engine and then the manufacturing was put together again as a collaborative team and manufacturing today happens in Pitampur and part of these engines will also get, put into engine trucks, of course we are right now in Euro 3 whereas we are giving very, very sophisticated Euro 6, so it’s one of the most modern plants, one of the later plants of Volvo group in the footprint that they have as manufacturing bases in the world. So coming back to the point is that I think sometimes this comparison with China is not getting us anywhere. But I think clearly there are, I would imagine, as companies we’re doing a fantastic job in terms of I would say scale of manufacturing. If you look at most of the Maruti Suzuki’s vendors, they have got the technology from their Japanese companies there. And they’re doing the same kind of work out here in India. They’re doing a brilliant job.
Another example which is outside of automotive industry is Nokia. Why did Nokia decide to setup this world-class plant for making of course, not the smart phones but the regular phones in Chennai is because they were able to demonstrate that this is low cost base for making it and they were running it successfully and of course until it got into some issues. So while I wouldn’t say that everything is lost. What is holding us back in terms of moving up the ladder as far as being a large supply chain thing is the fact that it’s our own policies. First of all in terms of the approvals that it needs to take to setup the industry, availability of power, labor policies in terms of hire-and-fire, the unionism and stuff like that. So those are the things which are holding us back literally. But otherwise I think there are clearly companies which are doing extremely well in terms of I would say manufacture. In fact one of the things that many companies are looking are is that it’s a low cost base so there are many companies which are looking at India as the production base for export to countries nearby. So if ever I’d articulate that is that Japan is now becoming a very expensive place to manufacture let’s say automobiles for that matter. So, most of the Japanese companies are looking for countries outside of Japan to manufacture and sell. So, one of them is obviously is one of the brands of Volvo is duty trucks which is based out of Japan, so the entire R&D and R&D talent also is very, very good, is now based out of India which we’re now developing as a R&D base for Volvo trucks as well as Duty trucks. And even manufacture a lot of parts which gets sourced out of India go out to the other countries. So I hope I’ve kind of partly answered your question or mostly answered your question. We’re getting there; all is not lost. It’s a good place to be in. Q: Coming to academics. Nowadays students seem to have lost some amount of touch in the academics because they think it’s not very relevant with what we do in the industry. When we go for internships and all, many people find it very relevant what they are studying and what they’re doing in their internships while many people don’t find it that relevant. So what is your take on – is our academic – the course in various colleges that we go though is it that well-structured as compared to what is required in the industry as of now? I must confess here that I don’t have too much of visibility. I’ve a very high level view in terms of what your courses are. So I don’t really know the course content that happens. But what I PRATIBIMB | OCT-NOV | 22
Corporate Edge find very good about TAPMI, from what I hear from the Placement Committee is that the industry academia which is the interactions is of an extremely high order where you’re getting people to mix or rather to get them over to do talks and stuff like that. I think it’s a very, very good thing which is much different from probably what it was when I was in college myself. So I think this interface is extremely good and I’m not sure how many projects that you guys do in the companies so to speak. So that’s another way of connecting. But all I can say is that the courses today which I understand is all about case studies and case studies are typically Indian of course, not all, most of them are Indian so to speak. If they are linked to what’s happening in the Indian or rather in the current industrial scenario or in the current market or the current economy I think we’re doing well. I think that way most colleges are now understanding that they need to bridge this gap or otherwise earlier it was extremely bookish and therefore, you know one had to go and start from scratch so to speak. So I would imagine that if I only go by the data point to the fact they have this predominantly large focus on the industry-institute interface I think you guys are doing a good job really.
Q: You have an extensive experience in sales and marketing. Given the kind of challenges that one faces when you recruit people in that particular area, for example- B2B sales, what are the various competencies you look for in a person when you hire people on those lines? I think it all first starts with the fact that you need to have the passion for the industry. I mean it’s more than just the passion of saying I like fast bikes and fast cars and stuff. It’s a little deeper than that. First of all, the love for automotive industry needs to be there. Second is what at least as Eicher we look at is that we want that guy to be at least an engineer. An engineer why because an engineer has got a slightly better I would say, analytical skill kind of an ability that is typically not found in some of the non-engineer kind of a thing with no aspersions against the non-engineer so to speak. But then we prefer engineers as the resource base for our sales and marketing function. Otherwise it’s all about how you have to have the sense of customer orientation in this business. It’s all about, when you say customer, one is of course, needless to say, the internal customer orientation because you are working in a matrix kind of an organization but obviously the more important part is your end customer the guy who buys your product or the service and then little before that is your channel partner who is the guy who is the intermediary between you and the end customer really so to speak. So the ingredients of a good sales and marketing guy is obviously he needs to have that mindset the passion for being in the industry and of course being there in the market to take care of his customer needs. That’s broadly that makes and I keep saying there’s no rocket science in commercial vehicle sales or marketing. It’s all about how you apply yourself, how you’re going to be. Agility is extremely important. I think if today Eicher is what it is today is that because this market of commercial vehicle industry was a duopoly. It was only TATA and Leyland and then we came in way back in ‘86-87 and then we were one of the guys who have moved up the market share rankings and volume so we’re now very credible third player in the commercial vehicle industry. Of course some new players have also come. That’s all about part of the business. So I think agility which is again coming back to the skill of the person is that how sensitive we are in terms of understanding both the spoken and the unspoken needs of the customers and then offering that in your products and services is what defines a guy. So the guy has to have that ability to spot that. So those are typically the ingredients what makes a good sales and marketing guy for an industry like what we are in.
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Corporate Edge
In a Dialogue with
Aparna Sharma Country Head-Human Resource Lafarge India - As spoken to Pallavi Prasad Q: At such a young age, to have been the Head, Director and now the Country Head HR at such a reputed organization is no mean feat. What all characteristics/ personality traits, according to you, have made this possible for you? First of all, thank you for the compliment of the achievement at a very young age. When I look back, I’m not so kind to myself, in the sense that I have done a lot at a young age. But I believe a few things that I had been very clear about, right from the time I started my career, were:•I will always be open to learning •As much as I want to win I am equally open to fail and learn from failures. It is very important to my mind that everything should not be about being right, rather that it is okay to take four steps forward and two steps backward, even if the end result being that you move only two steps forward. So, having that in your mind that it is okay to sometimes have slowed down because of mistakes (not yours alone, but as part of the team as well) •My firm belief that there is no shortcut to success, so however long and tedious the road might seem, it still needs to be travelled upon. •Constantly trying to excel at whatever one is doing is my very strong personal belief, and at the same time, I also think that there is no substitute to hard work either. So you may call it ‘Smart work’ these days, but smart work also requires hard work. So a combination of all this, the knowledge and the skills (given at a B-school), the attitude (either inherent or developed on the job), a lot of perseverance, patience and working with people, are what have helped me come this far..
Q: You are an inspiration to all the girls here, who aspire to be in the field of HR, or even Management in general, for them to show that they do not take HR simply because it is considered “Easy”. Your thoughts on the same? I would absolutely slam anybody who dares say this to me or to someone in front of me, because its’ just like teaching, everybody thinks it is easy as they think one can have a fixed number of holidays etc.
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Corporate Edge The same logic was given to me when I was growing up as well, but I have always believed in my own dreams and going after them at whatever cost, so long as it is I and not my family that bears the said cost. I don’t believe that HR is ‘easy’, and colleagues that I have worked with or work with definitely understand that it is not a tick box exercise, but it is a most complex function, because there is no theory or algorithm that tells you how to deal with human beings. . It is neither mathematics, nor science. It is an art, and it takes practice over the years. For example, a talent management program or any similar thing requires huge amount of engagement and involvement with the people in the organization, requires huge amount of buy-in for anything to actually fly in the organization, and requires you to understand the psyche of all levels of people in the organization and to establish that connect. So, while HR is known to stand for Human Resources, but I believe HR also stands for Human Relations. You have to be very personable at all points of time, in order to have a positive impact in the organization. Therefore, anybody who says that it is easy to balance both a job and a home, probably does not believe in the concept of a career. And anybody who says that women get concessions, or women ask for concessions, or women themselves think that it is okay to ask for concessions, I think they are not very genuine and authentic in their idea of a career.
You always have the choice of either sit on the side-lines watching the game or playing the game yourself. I am a woman, and I work just as hard, or maybe twice as hard, as any of my male counterparts, and it all comes down to the passion and the authenticity with which you do what you are trying to do. So it is a very biased thing to say that you can balance both work and home easily. Yes, you have to work harder, but society itself is changing for the better and becoming more understanding, and women themselves should exercise their choice at the right time, like saying that I want to have a partner who is able to take my career seriously, in order to ensure their continued growth and perseverance in this direction of progress.
Q: Continuing with the previous question, what according to you can we do different to change this general perception of HR as the field for “girls” or for people who want an easy life? How do we ensure the integration of HR into the organization such that it takes it to new heights, and becomes a core function rather than a “luxury” to the company? I think changing perception is something which has to start from self. If a student joins HR, then that student has to be someone who is definitely not looking for an easy option. If someone in your class/batch is considered a not-so-serious student, and he/she takes up HR, then the perception tends to get strengthened. If on the other hand, someone is very serious and becomes part of the workforce, then I think it is very important to be someone who is not a work-pusher, who does not act only when called to do so, and so on. In the past, the image of HR has evolved over time, and I think it goes more so because of the History and Evolution. It used to be Labour relations, and then it became Employee relations, then from there it became Human Resource Development, and then it became Human Resource Management. Therefore, it has evolved over a period of time, and hence, the people have such a perception today. The main things for you to remember thus, are to make sure you look at your value addition to the organization, make your voice count through valid suggestions at appropriate opportunities, sit on the table when you have a seat on the table PRATIBIMB | OCT-NOV | 25
Corporate Edge Q: What would you look for in a Management student (while hiring)? What specific personality traits/skills? Typically when you hire management trainees, the interviews or the selection process is not very long, because of the vast magnitude of people applying. What somebody, who comes to campus to hire managers, looks for is the willingness and the ability to learn, the learning agility, the behaviour of a person in a group/team (if any), the attitude towards learning, and finally the learning aptitude, i.e. is there a willingness to learn and do more, or contribute more. I still believe that a basic knowledge of his/her chosen specialization is a given. What people are also interested in looking for is whether the person is coming into the organization thinking it as a jumping board, or is willing to commit for a ling innings. Finally, the things I believe would matter are the abilities to take risks, and to be straightforward and upfront in saying ‘I don’t know’.
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Alumni Connect
In a Dialogue with
Atul Mohan Head-Human Resource Bluestone.com - As spoken to Ayon Kumar Q. You have worked in Retail sector, in IT and presently you are working in e-commerce. How different is the talent acquisition process for these different industries? Very different. Though the principle is common and the platform is the same, the super structures are very, very different. The basic principle of talent acquisition is to get the right resource, at the right cost, at the right time – that is always there – but the kind of people you look for in, say, IT is different. IT in Indian parlance is supposed to be one of the safe environments to land up in and it is more or less mass recruitment there. So it’s a different ball game altogether. E-commerce is still new though, and it has picked up of late. A few years ago, when I joined it was still new and not many people were up for that risk and that time. For e-commerce you require people who are more agile, swifter in their work, those who can switch gear much more easily than software engineers. In the last three years, there have been n number of e-commerce companies that have mushroomed and come up so to ensure that you remain competitive in this particular space you are required to hire quickly, hire the right talent that can perform and deliver for you quickly. So that’s e-commerce for you. If you’re talking about brick-and-mortar kind of hiring, it hasn’t changed much over the years because you look for almost similar kind of people whom you were looking for 8-10 years ago. They’re not very different. They require 12th-pass, who can converse in English, who can be polite to customers. So that area hasn’t changed but yes, the software engineer part has changed because, the old world industry has shifted to e-commerce and e-commerce right now is growing so you look for fast-paced hiring out there. Q. You’ve been in Flipkart for two and a half years before Bluestone.com. What, according to you, is the next big thing that you are anticipating in the e-commerce industry which can affect the employment perspectives in the future? See, e-commerce is changing every day. Three years ago, Flipkart was doing just books and electronics. In fact, at that time, all companies in e-commerce were doing books and electronics because they were standard and packaged products that cannot be customized or tampered with. Then the time came when people were ready to experiment and some fashion e-commerce sites came in PRATIBIMB | OCT-NOV | 27
Alumni Connect Then times changed further and perishable items e-commerce also came in. People are ordering groceries and daily vegetables online. Now e-commerce changed further and people are ready to shop online for some very personal products. And now the e-commerce trend shows that a lot of high-value jewellery is also coming in. Now barring real estate and automobiles, nothing is spared. In fact, you get refurbished e-commerce sites also. So along with this constant change, the kind of people you employ is also changing. Firstly you look forward to safe people, then you started hiring more creative people are apparel section, then you started hiring people who could get you some food because you’re dealing with food products, those who are able to deal with the licensing part and that sort because food grain licensing has been difficult and different. Then you are looking for somebody specialised in personal product marketing. These days marketing is not your traditional newspaper ad or TV commercial, it has gone a step further to social media. The moment you surf something or log on to Facebook, you see that particular site or that particular search being displayed as ads on your Facebook page. So social media marketing has gone up like anything. So yes, with the passage of time, everything is changing, and with jewellery coming online, a lot of risk analysis is to be done because here, one shipment will cost you much more. So the focus towards risk analysis, the focus towards risk management, stronger internal security team – these functions will have much more say in e-commerce in the coming times. Q. I was working before coming to TAPMI, during the performance evaluation process, the company followed the bell curve and sometimes, some amount of subjectivity creeps in when your manager is reviewing your performance. What measures do HRs take to keep that subjectivity away while appraising someone? See the degree of subjectivity can vary. But can subjectivity be eliminated completely? The answer is no, especially in larger organisations and young organisations. The organisations in the middle who have spent seven or eight years in the market and those who have their processes and policies evolved a bit, they’re fine. Younger organisations have very dynamic goals. What was decided three months ago may not be true today because they are in constant metamorphosis. Hence, for them, subjectivity cannot be ruled out. In larger organisations, though you can be objective and the system helps you in being objective, since you’re dealing with so many people and out of that entire bulk you have to identify two or three people who have to be differentiated from the lot for the next level. Say there are 25 odd people, you identify six or seven people on an objective basis, but the slot for the next level could be only three, and you cannot differential between those five or seven people in terms of performance. So you need to take a subjective call. So some amount of subjectivity will come, come what may. But yes, younger organisations have greater subjectivity because precisely, the KRA is very dynamic. If the KRA would have been stable, that subjectivity could have been eliminated but that is not the case with the younger organisations. Q. You are an alumnus of TAPMI so we’d like to know what experiences you’d like to share with us from your time. You passed out in 2006 and it’s 2014 now, so how do you see the changes in TAPMI? It’s good to see that some things have not changed at all, one such thing being some of the old faces, the support group, some of the faculty still meet us with the same warmth. Yes, a lot of things have changed. You all have got a new campus, for us it seemed like a distant dream.
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Alumni Connect In fact, before coming to this campus, I asked to driver to stop at the old TAPMI campus because I could associate with that TAPMI better. So I stopped there, took a snap of things, sent it to the WhatsApp group of my entire batch and they all had their comments to share. It’s good to see a lot of infrastructure development and the integrated campus. For us it was very difficult to spend late nights in the library and lab and work together I was in Placement Committee, so we had to take extra permission from the male hostel warden and the warden for girls and inform the PGP Chairman about it. At least you have all these facilities so that’s good. Nice to see all the recognitions coming to TAPMI.
The batch size also has gone up by two and a half times from what it used to be in my time. I don’t know if I would have been on Placement Committee considering a 400 people batch strength. One laudable thing about TAPMI is that they’re doing a lot to reach out to people, not only alumni, but even to other industry people, and create an aura about the entire institute. We also tried that but right now the focus is much better, it is much more planned and serious. At that time we were more intrinsic in nature and we were focusing more on interactions by faculty or regular guest lecturers than on interaction with the industry which has come up more in the last two years that it was before. I really admire this interaction which TAPMI is focusing upon. Q. Are there any inputs you’d like to give us from your experience as to what to expect in HR jobs and how to build competencies for the same? When you are planning to take up HR, please don’t take it as only a theory concept because based on the theory, you take a lot of practical approaches and you have to customise your approach for every individual. Every function of HR deals with numbers – recruitment is a number, attrition, employee satisfaction, compensation, tax are all numbers. HR is not a subjective and theory based industry, you have to do many practical things, you have to be open to numbers and data and only then can you succeed in this particular area. You have to blend your theory and numbers and practical approach.
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PRATIBIMB TAPMI’s bimonthly e-Magazine, is primarily intended to provide insights into the plethora of knowledge that relate to the various
departments of management and to give an opportunity to the students of TAPMI and the best brains across country to exhibit their creative cells. The magazine also strives to bring expert inputs from industries, thereby bringing the academia and industry together. Pratibimb is committed in continuing this initiative by bringing in continuous improvement in the magazine by including quality articles related to various management issues and eventually creating a more engaging relationship with its readers by providing them a platform to showcase their talent. We invite all the best brains across country to be part of this initiative.
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