Topic – “Employee Value Proposition in Multi- Generational Talent.”
The next round of Onimia on Day five of Disha 2014 carried forward the discussion on designing effective employee value proposition. The imminent speakers present at this discussion were Mr. Jothibasu, Head – Talent Acquisition, BIAL; Mr. Pritpal Kular, Vice President – Human Resources, General Motors and Mr. Ramunni Nair, Vice President HR&GA, Renault-Nissan. The panel discussion was moderated eloquently by Prof. (Col.) James and Professor Sushanta Kumar Sarma.
Mr. Jothibasu, Head – Talent Acquisition, BIAL: EVP should be dynamic as business environment is changing so fast. Managers should understand the employees according to the generation segmentation and accordingly the EVP should be revised to be able to attract the employees to the organization. They should try to motivate and retain employees in the organization. Depending on socio-economic background and generation of the employees, EVP should be developed which will, in turn, benefit the organization.
Mr. Pritpal Kular, Vice President – Human Resources, General Motors:Mr. Pritpal Kular initiated the discussion with a quote, “Culture eats strategy for lunch and other two meals as well”. He further explained the scenario in today’s day, “Looking at the multi-generational, we need to convert theory into practice. There is a need to bring both generations together; we need to span the area which moves us into how to connect different generations in an organization. Mr. Kular brought forth an important point that 90% of the population wants to get out of the mediocre lifestyle and aspires to move forward, organizations must acknowledge this.
“I would not refer to people as baby boomers and such rather I refer to them as solid citizens who need opportunities for growth and security in terms of retirement schemes”. He further elaborated that it is important to create opportunities for both generations including blue collar employees, which is evident in the way the organizations manages their aspirations. We could have a strategy but the initiatives and processes used must be stratified in that sense. Currently in the insurance industry the attrition level is 60%, which implies that employees are not happy because a typical organization trains their employees for 3 months and expect them to give their 100% but they forget that knowing their aspirations, their families, their journey, and where they come from must be known to understand their requirements. In order to reduce the attrition rate, a psychographic process can help as employees that go through it feel more adjusted to the work environment.
Recruitment strategies are not driven by what the employee wants;rather it is centered on the needs of the organization. It is imperative for an organization to meet these needs to get the talent pool which is ready for work the next day. Mr. Kular added, “How you attract talent, retain them and develop them are the most critical steps for an organization”.
Mr. Ramunni Nair, Vice President HR&GA, Renault-Nissan: Mr. Nair, unlike the rest of the panelists did not agree with the division of talent according to generation. He spoke that in the world of blue collared jobs, there is no generation X or Y but in fact, all have been equally at par for the last numerous decades. He explained that though it was relatively easier to design an employee value proposition for the white collared but when it comes to designing it for the blue collared, it becomes an enigma for the employers. He said that at the end of the day, all that an employer has to do is increase the discretionary power of employees and engage them at different levels. Quoting from his own experience at Nissan, he spoke how cultural differences bring about differences in designing of EVP. For example in Japan, the EVP was based on the belief that there is no differentiation of work and every worker has a similar requirement in life whereas in Europe they explicitly design EVP to enrich the work experience of people. Every EVP has to be customized according to the local tones and flavors. Also, the EVP is not a constant but keeps changing and evolving with the change in time and environment.
The panel consisted of an extremely knowledgeable set of speakers and the students posed a volley of questions for the panelists at the end of the discussion.