Mandar, Author at Great Manager Institute® - Page 2 of 7

Last 50 days to participate in the Great People Manager Study®—be among India’s Top Great People Managers™. Participate now.

Author: Mandar

6 Employee Retention Strategies to Engage Young Talent

Posted on by Mandar

In today’s competitive talent market, organizations are increasingly focused on implementing effective employee retention strategies to attract, engage, and retain top talent. Young employees bring fresh ideas, digital fluency, and a strong desire for growth, making them a valuable asset for any organization.

However, retaining young talent requires more than competitive compensation. Employees today seek meaningful work, career development opportunities, supportive managers, and a workplace culture that aligns with their values.

Organizations that fail to address these expectations often experience higher turnover, lower engagement, and increased hiring costs. Strong employee retention strategies help create an environment where young professionals feel valued, motivated, and committed to long term success.

In this article, we explore six practical strategies that can help organizations improve employee engagement, strengthen retention, and build a future ready workforce.

Make Them Feel Welcome

Young employees often bring fresh perspectives, innovative ideas, and a deep understanding of evolving technologies and trends. When they feel embraced and valued, they are more likely to engage actively, contribute to the company through their unique skills, and remain committed to their work. Putting them on an even platform with senior employees can go a long way in making them feel this way. Without a certain level of acceptance, they will not feel comfortable enough to be vocal and engage with the decision making discourse. The concept of “probation”, if done incorrectly, can drive these young minds away. When young people are encouraged to voice their opinions, collaborate with their colleagues, and take on meaningful responsibilities, they are far more likely to feel a sense of belonging and purpose as opposed to someone who is made to do menial work for the initial few months as they ease into the job. Making young people feel welcome has a lot to do with offering respect and valuing the skills and knowledge they bring to the table. Without this, you won’t be able to retain and engage young employees

Provide Transparency On Career Progression Opportunities

Young employees often have ambitious career goals and a strong desire for growth and advancement. When this collides with the reality of corporate jobs where they may feel a lack of trajectory, you risk these employees leaving in search of jobs with faster progression. When organizations are transparent about the various career paths available within the company, it instills a sense of clarity and purpose among young employees as well as alleviating their concerns about trajectory. By clearly communicating the skills, qualifications, and experiences required for different positions, organizations empower their young employees to plan and work towards their desired career trajectory. Transparency also develops trust and credibility between the employee and the company by ensuring that young employees’ goals are acknowledged and encouraged. When companies show willingness to engage in the growth and progress of their young people, it generates a sense of loyalty and dedication, which leads to improved retention rates. This “roadmap” for employee growth can do wonders in motivating young employees to give their best and work hard towards whatever role they’re trying to work towards. 

Offer Flexibility

Flexibility is a high priority for young workers. This statement has been proven time and time again through various studies. This younger generation values a healthy work-life balance and wants a flexible approach to their professional lives. By offering options such as remote work, flexible working hours, or compressed workweeks, organizations can demonstrate their understanding and support for the individual needs and priorities of their young employees. This flexibility enables them to better manage their personal commitments, pursue further education, engage in hobbies, or maintain a healthy lifestyle. When organizations accommodate these diverse needs, it enhances job satisfaction, reduces stress, and increases overall happiness. Work flexibility also promotes autonomy and empowers young employees to take ownership of their work and time, leading to increased productivity and engagement. 

Leverage New Experiences

Young employees are known to have a thirst for exploration, growth, and learning. By providing opportunities for them to gain new experiences and knowledge, organizations can tap into their curiosity and drive thereby expanding their potential. Exposure to different projects and roles, allows them to expand their skill sets and develop professionally. It also keeps them engaged and motivated, as they feel a sense of continuous learning and progression. When organizations actively encourage and provide the means for young employees to explore and take on new experiences, it demonstrates a commitment to their development and invests in their long-term success. This increases innovation and ensures that your employees are more adaptable so they don’t get stuck in a silo mentality. This is mutually beneficial as the employees get engaging stimulus and opportunities for growth while the organization get versatile and competent employees.

Provide Mentors

Implementing an effective mentorship program has many benefits for increasing young employee retention. As mentioned earlier, young employees have a strong desire for exploration, growth, and learning. By pairing them with mentors, organizations can tap into the knowledge and expertise of their experienced employees, enabling the transfer of valuable insights, skills, and guidance. Mentors serve as trusted advisors, offering support, encouragement, and a safe space for young employees to navigate their careers. The mentor-mentee relationship provides a platform for young employees to gain exposure to different perspectives, expand their professional network, and develop crucial skills for success. Mentors can also offer valuable career advice, help navigate organizational politics, and provide guidance on opportunities for advancement. By investing in mentorship programs, organizations demonstrate their commitment to the growth and development of their young employees, fostering a sense of belonging and loyalty. There is a caveat to this as companies must select their mentors carefully. These mentors should embody the values of the company and be enthusiastic about providing the new hires with guidance. The guidance and support received through mentorship can cultivate a positive work experience, enhance job satisfaction, and increase the likelihood of young employees staying with the organization for the long term. 

Create A Socially Progressive Workplace

In a diverse country like India, where various social, cultural, and economic factors come into play, promoting equality and inclusivity is crucial. Young employees, especially from marginalized communities, often face systemic barriers and discrimination in their professional lives. By establishing a socially equitable workplace, organizations can provide a sense of fairness, respect, and dignity for all employees. This entails providing equal opportunities for growth and advancement, eliminating biases in recruitment and promotion processes, and addressing wage disparities. Creating an environment where diversity is valued and celebrated allows young employees to feel a sense of belonging which thereby encourages their active participation, and nurtures their talents. It also sends a strong message that individuals are recognized and appreciated based on their skills and potential, rather than their background. By prioritizing social equity, organizations not only retain young talent but also harness the benefits of diverse perspectives, experiences, and ideas. A socially equitable workplace enhances the overall reputation of the organization, attracting more talented young individuals who seek an inclusive and progressive work environment. 

Retaining young talent is not only about offering competitive salaries or fancy perks; it requires a deeper understanding of their aspirations, needs, and the changing dynamics of the modern workplace. By making young employees feel welcome, providing transparency on career progression, offering flexibility, leveraging new experiences, and implementing mentorship programs, organizations can create an environment that cultivates loyalty, engagement, and growth. By investing in the retention and development of young talent, organizations secure a future of innovation, adaptability, and sustained success. Embracing these strategies will not only benefit young employees but also enable organizations to thrive in an ever-evolving business landscape.

Frequently Asked Questions:

Employee retention strategies are initiatives designed to keep employees engaged, motivated, and committed to an organization. These strategies may include career development opportunities, recognition programs, strong leadership, competitive compensation, and a positive workplace culture.

Retaining young talent helps organizations reduce turnover costs, strengthen their leadership pipeline, and maintain business continuity. Young employees bring fresh perspectives, digital skills, and innovation that contribute to long term organizational success.

Some of the most effective employee retention strategies include providing career growth opportunities, investing in learning and development, recognizing employee contributions, promoting work life balance, and creating an inclusive workplace culture.

There is a strong connection between employee engagement and retention. Engaged employees are more likely to feel connected to their work, trust their managers, and remain committed to their organization, reducing the likelihood of voluntary turnover.

Managers play a critical role in retention by providing regular feedback, supporting employee development, recognizing achievements, and building strong relationships with team members. Effective people management often has a direct impact on employee satisfaction and loyalty.

Young employees often leave when they see limited opportunities for career growth, lack meaningful feedback, experience poor management, or feel disconnected from the organization's culture and values. Strong employee retention strategies help address these challenges before they lead to turnover.

Organizations can retain young talent by offering clear career progression paths, continuous learning opportunities, flexible work arrangements, strong leadership support, and a workplace culture that promotes inclusion, recognition, and professional growth.

Career development is one of the strongest drivers of retention. Employees who see opportunities to learn new skills, take on greater responsibilities, and advance their careers are more likely to stay engaged and committed to their organization over the long term.

View More right-arrowLoad More

Alternative to Layoffs: 3 Smart Strategy to Reduce Costs

Posted on by Mandar

Collecting employee feedback is one of the most effective ways to improve employee engagement, strengthen workplace culture, and build better managers. Employees who feel heard are more engaged, motivated, and committed to their organization’s success. However, understanding how to collect employee feedback is just as important as collecting it.

Organizations that establish a structured employee feedback process gain valuable insights into employee satisfaction, manager effectiveness, workplace culture, and opportunities for improvement.

By using the right employee feedback methods, HR leaders and managers can identify concerns early, improve communication, and create an environment where employees feel valued.

Employee feedback is more than annual performance reviews. It is an ongoing exchange of ideas, suggestions, and observations between employees and managers that strengthens relationships and drives continuous improvement. While managers regularly provide feedback to employees, organizations should also encourage employees to share honest feedback about leadership, communication, and their overall workplace experience.

For employees to provide meaningful feedback, organizations must first build a culture of trust. Employees are more likely to share their opinions when they know their voices matter, their feedback will be respected, and appropriate action will follow.

A workplace that encourages open communication creates stronger teams, better leaders, and higher employee engagement.

There are several ways organizations can collect employee feedback, and the best approach often combines multiple methods throughout the employee lifecycle.

1. New Employee Surveys

The first few months of an employee’s journey often determine their long-term engagement with an organization. New employee surveys help HR teams understand onboarding experiences, manager support, workplace culture, role clarity, and early challenges.

These surveys allow organizations to identify concerns before they affect employee engagement or lead to early turnover. Questions can focus on onboarding quality, communication with managers, learning opportunities, and overall satisfaction during the first 30, 60, or 90 days.

2. Employee Engagement Surveys

Employee engagement surveys provide a comprehensive understanding of how employees feel about their work, leadership, and the organization. These surveys are typically conducted quarterly or annually to measure engagement levels and identify opportunities for improvement.

Organizations can use engagement surveys to evaluate leadership effectiveness, workplace culture, communication, career development, employee recognition, and overall job satisfaction. The insights gathered help HR leaders make informed decisions that improve employee experience and retention.

3. Stay Interviews

Unlike exit interviews, stay interviews help organizations understand why valuable employees continue working with the company and what could encourage them to stay longer.

Managers can ask employees about their career goals, workplace challenges, development opportunities, and what changes would improve their experience. The feedback collected through stay interviews supports employee retention strategies while helping organizations create personalized development plans for high-performing employees.

4. Pulse Surveys

Pulse surveys are short, frequent surveys designed to capture real-time employee feedback. These surveys help organizations monitor employee morale, engagement, manager effectiveness, and workplace satisfaction without waiting for annual surveys.

Because pulse surveys require only a few minutes to complete, they often receive higher participation rates. They enable leaders to identify emerging concerns quickly and respond before small issues become larger organizational challenges.

Best Practices for Collecting Employee Feedback

An effective employee feedback strategy goes beyond simply sending surveys. Organizations should ask relevant questions, keep surveys concise, protect employee confidentiality when needed, communicate survey findings transparently, and most importantly, act on the feedback received.

Employees are far more likely to participate in future surveys when they see meaningful improvements resulting from their feedback. Continuous communication between managers and employees also strengthens trust and encourages honest conversations throughout the year.

Common Mistakes to Avoid

Many organizations collect employee feedback but fail to generate meaningful outcomes. Common mistakes include conducting surveys without follow-up, asking too many questions, collecting feedback only once a year, ignoring employee concerns, and failing to communicate what actions have been taken.

Employee feedback should never become a checkbox activity. It should serve as an ongoing process that helps leaders improve the employee experience and strengthen organizational performance.

Conclusion

Knowing how to collect employee feedback is essential for organizations that want to build an engaged, motivated, and high-performing workforce. By combining employee engagement surveys, new employee surveys, stay interviews, and pulse surveys, organizations can gain valuable insights into employee experiences and identify opportunities for continuous improvement.

Collecting feedback is only the first step. Organizations that actively listen, communicate openly, and take meaningful action based on employee feedback build stronger workplace cultures, improve manager effectiveness, increase employee engagement, and retain top talent over the long term.

Frequently Asked Questions:

The most effective way to collect employee feedback is by combining employee engagement surveys, pulse surveys, stay interviews, one-on-one meetings, and onboarding surveys. Using multiple feedback methods helps organizations gather insights throughout the employee lifecycle.

Employee feedback helps organizations improve employee engagement, strengthen workplace culture, identify challenges early, improve manager effectiveness, and make better business decisions that support long-term growth.

Some of the most effective employee feedback methods include employee engagement surveys, pulse surveys, stay interviews, new employee surveys, anonymous feedback forms, and regular one-on-one conversations between managers and employees.

Organizations should collect employee feedback continuously through regular manager conversations, quarterly pulse surveys, annual engagement surveys, and milestone surveys during onboarding or major organizational changes.

An employee engagement survey measures overall employee satisfaction and engagement across multiple workplace factors, while a pulse survey is a shorter, more frequent survey used to monitor employee sentiment and identify issues in real time.

Managers can encourage honest employee feedback by creating psychological safety, listening without judgment, acting on employee suggestions, maintaining confidentiality when appropriate, and communicating the actions taken after receiving feedback.

View More right-arrowLoad More

Why Manager Effectiveness Surveys Matter Today

Posted on by Mandar

Organizations invest heavily in hiring and developing managers, yet many struggle to measure whether their leaders are truly effective. A Manager Effectiveness Survey provides a structured way to evaluate leadership capabilities, people management skills, communication effectiveness, and employee perceptions of managers.

By gathering feedback directly from team members, organizations can identify leadership strengths, uncover development opportunities, and gain actionable insights into manager performance.

Effective managers play a critical role in employee engagement, retention, productivity, and overall business success. Research consistently shows that employees are more likely to stay, perform better, and remain engaged when they work under strong leaders.

A well-designed manager effectiveness assessment helps HR leaders, CHROs, and L&D teams measure managerial effectiveness, benchmark leadership capabilities, and create targeted development plans that strengthen leadership pipelines and improve organizational performance.

Whether the goal is improving employee engagement, reducing attrition, supporting succession planning, or developing future leaders, a manager effectiveness survey provides the data organizations need to build stronger people managers and high-performing teams.

What is a people managerial effectiveness survey?

A people managerial effectiveness survey tool is used to assess the performance and effectiveness of managers within an organization. This type of survey focuses on evaluating a manager’s ability to lead, communicate, motivate, and support their team members, among other managerial competencies. It often includes questions related to leadership style, decision-making processes, interpersonal skills, and the manager’s ability to achieve team goals. The feedback obtained from this survey is primarily used to identify areas where managers can improve their skills, enhance their leadership qualities, and better support their teams.

In today’s highly competitive global economy, organizations are realizing the fact that their managers are one of the most important assets; they drive business and generate revenues for the organization. However, in order to ensure sustained growth, organizations need managers who are highly ‘effective’ and who demonstrate requisite values, skills, knowledge and competencies.

64% of employees with ineffective managers plan to leave their organization

Managerial Effectiveness’ has garnered much attention in recent years due to its importance to the organization as a whole. Unfortunately, a plethora of research indicates that employees consider their managers to be ineffective! Managers also struggle especially in their role as new managers and fail to deliver what is required of them. This may prove extremely costly for the organization who invest heavily in hiring and onboarding managers.

Apart from incurring revenue losses, our recent research states that 64% of employees with ineffective managers are planning to leave. Such mass exodus may not be good for an organization’s reputation.

There are myriads of reasons for managerial ineffectiveness

Let’s look at some of these reasons and ways to fix the same.

  1. Accidental Managers – Accidental managers are individuals who are promoted to take on a manager’s role simply because there is a vacant position and they happen to be available to take charge. In reality, they are not ready for the role and the challenges associated due to absence of requisite skills and competencies. One of the key reasons is that they are not assessed on these dimensions by valid instruments/tools before taking on the role of managers.
  2. Leadership blindspots – Many managers carry hidden weaknesses that are not known to them but can be easily seen by others. These blindspots are potential threats for the organization and it is extremely important to recognize these before it’s too late. Such blindspots can be easily identified using assessment tools.
  3. Lack of support from organizations – At times, organizations do not provide the necessary training and support to their employees before they embark on a new journey as managers. Consequently, they do not understand a new role’s requirements and challenges and remain ineffective. Research also indicates that around 82% of managers coming into the job lack adequate training.
  4. Wrong Role Models – It has been observed that new managers often mirror the behaviors and actions of their own managers, and these actions may not necessarily be right! This mainly happens due to the lack of exposure and the right amount of training provided to the new managers during the initial phase of transition. They remain uncertain and indecisive about how to behave and create a win-win situation. Consequently, they unknowingly project behaviors that are not very effective and merely a reflection of their bosses’ behaviors. This wrong role modeling accounts for managerial ineffectiveness that cascades down to the organizational level.

How to Measure Managerial Effectiveness: Organizations’ Stance

There are numerous ways to determine and measure managerial effectiveness e.g. comprehensive assessment centers that call for rigorous planning and execution and one-on-one sessions. However, administering well-constructed surveys is perhaps the easiest and most effective way to gather responses from many people at once.

‘Managerial Effectiveness Survey’ measures employees’ perceptions and overall satisfaction with their managers on various dimensions. Mostly the survey focuses on the core values, behaviors, and leadership qualities that make any manager effective. The outcomes enable organizations to identify manager’s strengths and weaknesses, uncover relationships with their team members, and determine team members’ engagement levels and training and development opportunities for the managers. Depending on the needs, such surveys can be floated in a timely fashion to get a clear picture.

A People Managerial Effectiveness survey can be considered a valuable tool for organizations for several reasons. Here are some key points explaining the relevance and need for such surveys:

  1. Ascertaining Managerial Fit – Every organization carries its own set of values and norms and expects its leaders to own and reflect the same. Such surveys can help determine if managers are aligned with the organization’s mission, vision, and strategic goals. Any deviation found can be addressed. The survey can help you figure out if your managers have the needed skills to lead your organization effectively.
  2. Aids Performance Appraisal – A people managerial effectiveness survey supports the performance appraisal process by throwing ample observations around managerial behaviors that make them effective and successful in their given roles. The survey also gives valuable insights into managers’ strengths and areas of improvement, which help facilitate the performance appraisal discussion and curate the future course of action!
  3. Uncovering Strengths & Weaknesses – The survey helps identify managerial strengths and strong behaviors, allowing organizations to leverage and build upon them. At the same time, identifying weaknesses will enable organizations to provide targeted training and development programs to improve managerial skills and address any gaps found.
  4. Employee Engagement & Satisfaction – A manager’s effectiveness has a direct impact on employee engagement and satisfaction. Research by Great Manager Institute® which collected responses from over 30,000 employees revealed that employees who rated their managers as effective were found to be more engaged and satisfied. The survey is a comprehensive one that gauges how well managers are doing in their role, creating a positive work environment, fostering teamwork, addressing employee concerns, and treating them with respect and dignity.
  5. Succession Planning – Assessing managerial effectiveness is crucial for succession planning. Such surveys can help organizations identify high-potential individuals who may be groomed for leadership roles in the future.
  6. Problem Solving – Effective managers are adept at decision-making and problem-solving. The survey can assess how well managers are prepared to handle challenges, make decisions, and navigate complex situations.
  7. Retention –Employees often leave organizations due to issues related to managers. In fact, research by Great Manager Institute® shows that 67% of employees decide to stay or leave basis the effectiveness of their managers.
  8. Communication from Managers – When it comes to communication between management and their team, research has shown that when managers talk to their employees on a regular basis, those employees are more engaged. These surveys are a good way to determine how communicative management is with their team and, as a result, how engaged employees are with their co-workers, management, and the company as a whole.

People Managerial Effectiveness Survey or Engagement Survey:
Which one to choose?

Many organizations also leverage engagement surveys to understand employees’ perceptions about various aspects present in the organization which eventually determine their engagement levels.

Engagement surveys are all-encompassing and focus on the broader concept of employee engagement and satisfaction within the organization. Questions in engagement surveys may cover topics such as contentment with various systems and processes, job satisfaction, work-life balance, career development opportunities, recognition, and the overall work environment.

The primary goal of engagement surveys is to understand how engaged and motivated employees are, as well as to identify factors that may contribute to low morale or eventual exit from the organization. Managerial effectiveness surveys on the other hand, target the managerial or leadership aspects in the organization which impact employee engagement.

The basic premise is that employee’s relationship with their managers primarily determines their engagement levels. A lot of research has been conducted in this respect which indicates that employee engagement is directly proportional to managerial effectiveness.

Managerial effectiveness surveys and engagement surveys are both great tools used in organizational settings to gather feedback and assess different aspects of the workplace, but they focus on different dimensions of the work environment and organizations need to figure out what exactly is their focus. If it is more manager-centric then managerial effectiveness surveys certainly give an edge over engagement surveys.

Considering the fact that the managerial effectiveness survey provides a comprehensive view of how well managers are performing, contributing to organizational success, and fostering a positive work environment, such regular assessments will help organizations adapt to changing needs and ensure that their leadership remains effective and aligned with organizational goals.

About Great Manager Institute®’s People Managerial Effectiveness Survey

The People Managerial Effectiveness survey is a well-researched, holistic tool that enables organizations to gauge employees’ beliefs about their manager’s effectiveness on multiple dimensions. The tool is based on GMI’s proprietary Connect-Develop-Inspire™ (CDI) Framework. The framework determines how well managers connect with their team members by showing respect and care towards them, by actively listening to their concerns, and by setting the right expectations at the beginning and guiding them throughout to fulfill the same. At the same time, it explains how managers develop their team members by involving them in decision-making processes and by providing constructive feedback in a timely manner. It also talks about how managers inspire their team members by influencing them in the right manner and by being a great role model who takes pride in celebrating team success.

The survey can be administered online and consists of 25 statements designed to cover the various aspects of the CDI framework. The survey results in a ‘People Manager Effectiveness Score’ which throws ample insights around key managerial skills and notable opportunities for improvement. Post-completion, organizations receive a report that paints a detailed picture of key managerial strengths and areas of improvement. The survey motivates an employee to demonstrate the requisite behaviors so that they can be recognized as a “Great Manager to Work With™.” Additionally, our survey offers your manager internal and external benchmarks, enabling a clear comparison of their management skills against their peers.

How does this fit seamlessly into your organization?

How this fits seamlessly into your organization

What data do you get from our People Manager Effectiveness Survey?

What data do you get from our People Manager Effectiveness Survey?

How are we different from an assessment centre?

How are we different from an assessment centre?

Great Manager Institute® offers a unique assessment approach for practicing people managers by centering its evaluation on stakeholder feedback, including insights from team members.

Our assessment tool evaluates feedback through a reliability score, analyzing response patterns to determine whether feedback has been given with proper application of mind. Additionally, each manager receives a validity index on their scorecard, indicating the report’s credibility. This effectively eliminates biases, ensuring a fair and accurate reflection of a manager’s capabilities.

The assessment is tailored to behaviors exhibited within the manager’s current company ecosystem, making the insights gained significantly more relevant and actionable.

Our assessment tool provides you with the ability to add your customized competencies/values to our comprehensive Connect-Develop-Inspire™ framework, to create a People Manager Effectiveness Score.

Benchmarks are more relatable as there are internal and external benchmarks available.

The development journey is intricately linked with assessment scores, allowing for a seamless integration of evaluation and growth.

This holistic approach not only provides a clearer picture of a manager’s current performance but also paves the way for targeted development strategies, setting it apart from conventional assessment practices.

How is doing the 9-box with us different from doing it internally?

How is doing the 9-box with us different from doing it internally?

Internal 9-box surveys generally focus only on the performance (KPI/KRA scores) of the employees and the manager’s perception of the potential of the employee. This makes it a little subjective in nature. Our robust methodology places your employees in a 9-box using their performance scores and a people manager effectiveness score that is calculated based on feedback received from peers on various managerial competencies. This makes the evaluation more objective in nature.

What next after the People Manager Effectiveness Survey?

Once you complete the survey and identify which manager falls in which grid of the 9-box, you can identify their areas of improvement and create development journeys focused on those particular areas. You can have targeted development journeys for managers placed in the inverted L as highlighted in the graph. This can be done internally within the organisation or externally as well. Opting to partner with us enriches the process with our specialized development journeys that include personalised nudges based on the manager’s scores and areas of improvement as well as in-person and virtual workshops.

Frequently Asked Questions:

A Manager Effectiveness Survey is a leadership assessment tool that measures how effectively managers lead, communicate, develop, and support their teams. It gathers employee feedback to evaluate managerial competencies, leadership behaviors, and overall people management effectiveness.

A manager effectiveness survey helps organizations identify leadership strengths, uncover development gaps, improve employee engagement, and reduce attrition. It provides data-driven insights that support leadership development, succession planning, and manager performance improvement.

Organizations typically measure manager effectiveness through employee feedback surveys, leadership assessments, manager competency frameworks, and performance indicators. A comprehensive manager effectiveness assessment evaluates communication, coaching, accountability, decision-making, and team development capabilities.

An employee engagement survey measures employees' overall satisfaction and engagement within the organization, while a manager effectiveness survey specifically evaluates leadership behaviors and managerial capabilities. Since managers significantly influence engagement levels, organizations often use both surveys together for a complete view of workplace effectiveness.

A strong manager effectiveness survey should assess competencies such as communication, active listening, coaching, feedback, trust building, accountability, employee development, collaboration, decision-making, and leadership effectiveness. These competencies provide a clear picture of a manager's impact on team performance.

Research consistently shows that employees are more likely to stay when they work with effective managers. A manager effectiveness survey helps organizations identify leadership gaps, improve manager capabilities, strengthen employee-manager relationships, and create a positive work environment that supports long-term retention.

View More right-arrowLoad More

Workplace Challenges for Women in India: Key Barriers

Posted on by Mandar

India’s economic growth depends on a diverse and inclusive workforce, and women continue to play an increasingly important role in shaping the country’s future. However, despite significant progress, many workplace challenges for women in India continue to limit career growth and professional success.

Women in the workplace often face barriers such as gender bias, unequal career opportunities, societal expectations, and the gender pay gap. These challenges impact not only individual careers but also workforce participation, organizational diversity, and business performance.

While access to education and employment has improved, women in the workplace still face obstacles that can slow career progression and reduce representation in leadership roles. Many talented women struggle to achieve their full potential despite having the skills and qualifications needed to succeed.

India has introduced several legal and constitutional provisions to promote workplace equality and protect women’s rights. The Equal Remuneration Act and other regulations aim to ensure equal opportunity, fair wages, and protection against discrimination.

Despite these efforts, many workplace barriers for women remain deeply rooted in social norms, organizational practices, and unconscious bias. Understanding these challenges is essential for creating more inclusive workplaces where women can thrive, lead, and contribute to long term organizational success.

What holds women back?

While these provisions have made the workplace accessible and safe for women, we do see a rise in the number of women in the workplace, we also see women taking up leadership or higher positions such as that of a manager or a CEO/Director, but we also see that this percentage is stagnant or is beginning to decrease. 

 A report published by the Business Standard “Post-pandemic job recovery for Indian women slower than men” highlights some important facts for us.  According to the Centre for Monitoring Indian Economy (CMIE) and Centre for Economic Data and Analysis (CEDA), the percentage of women employed in urban India has reduced to 22.1% and the percentage of men working in urban India in 2023 is still higher than that of women. The reasons for this imbalance are not new, but they are forgotten and often ignored.

An issue with our mindset

We live in a ‘modern world’ and are under the assumption that gender-based discrimination is a ‘thing of the past’. It is a dangerous assumption, patriarchy i.e a system of society or government in which men hold the power and women are largely excluded from it,  misogyny i.e dislike of, contempt for, or ingrained prejudice against women and sexism i.e prejudice, stereotyping, or discrimination, typically against women, based on sex exists and are rampant in the Indian society. Such behaviours always find a way to manifest themselves in the world, and in society irrespective of the era we live in. These behaviours range from seemingly harmless acts to extremely violent life-threatening acts.

Imbalanced Sex Ratio

Some common widespread practices in a majority of Indian states are sex-selective abortions or female infanticide. The belief that a girl child is not our child, she will be married off to some other family and is a liability while the son will be an asset and will support the family monetarily directly contributes to the glaring disparity in the Indian sex ratio. Which ultimately results in there being fewer women who perform paid work.

Denial of the Right to Education and Lack of Training

Another reason for there being fewer women in the workplace is the lack of education and training. As compared to male children, female children get lesser preference in the matter of education. Parents are found to be compromising on the quality of education and expenses in the case of female children as they invest just to educate them and not from the viewpoint of employment. 

 Job-oriented courses of elementary nature are generally preferred for females rather than males. Women are largely in computer courses, boutique and fabric painting and similar elementary courses, leading them to low-paid jobs and landing them in the second segment of the labour market. Therefore, women’s advancement in employment is generally hampered. Exclusive women training programmes are very few at least in the private sector.

Societal and Family Pressure/Expectations

Managing layoffs plays a key role. You may want to consider these 3 alternatives to layoffs if you want to protect yourselves from the effects it has on your people managers. In case you feel you cannot avoid layoffs, a few ways to manage them include:

Be Open and Honest

Even for women who have made it to the workplace, and who have secured their right to work, it is not an easy journey. Employed women who earn for themselves or contribute to their family’s income face many difficulties. A study published by the Society for Human Resource Management in India in their work ‘Perspectives on Women in Management in India’ talks about certain obstacles working women face. Indian society continues to hold on to its traditional patriarchal practices, gendered roles make it difficult and at times impossible for women to have a successful career, the role of the man as the ‘breadwinner’ and the role of the woman as the ‘homemaker’ is one of the several obstacles women have to deal with. Another one is that if women choose to work and have a family they have to strike a balance between the two. The expectations from the family include women giving up their careers after marriage, and childbirth. Then expectations that if women work outside of the home, they still need to take care of the house, the children and the husband. This phenomenon is known as the second shift, the term was coined by sociologist Arlie Hochschild. It simply refers to the household and childcare duties that follow the day’s work for pay outside the home. While both men and women experience the second shift, women tend to shoulder most of this responsibility.

It highlights the complexity of women’s roles as mothers, wives, and working women. According to Hochschild, working women perform a first shift in the paid labour force and a second shift of unpaid labour in their households.

Male co-workers/employees' attitude towards women employees

Once the decision is final, be very direct and humane with your team members. As much as it may pain them and even you, this information will hurt a lot less for them coming from their own manager and friend rather than a mail or message. (Don’t do what Google did).  This also increases your credibility in front of the remaining employees.

Ms Archana Bhaskar was the HR Director, at Shells Companies India for six years and now she is the Chief Human Resource Officer for Dr Reddy’s Laborities, she shared her struggle with the Society for Human Resource Management in India. She recalls the lack of support when she started working after her post-graduation in business management. Women workers had to be like men to succeed, work/life balance was almost thrown out of the window, and the one or two women that were in her organisation were busy trying to compete with each other rather than help! Male colleagues and managers consistently refused to take her seriously, saying that she was in the job for entertainment rather than to make a real professional career. 

An article by Fortune India, “Rise of Women to CEO Roles Strewn with Challenges’ by Anshul Dhamija (https://www.fortuneindia.com/enterprise/rise-of-women-to-ceo-roles-strewn-with-challenges/106101) talks about how, while many Indian companies have institutionalised practices to boost representation of women in senior leadership and executive positions,  the rise to the corner office is still strewn with challenges. Ms Radha Dhir, the CEO and country head of JLL an international property consultancy firm shares her experiences and says that women have to ‘walk an extra mile just to prove themselves as equal at work compared to men’. Ms Pallavi Shroff, managing partner, Shardul Amarchand Mangaldas & Co, talked about how a woman will give her professional input and it is scrutinised, questioned and then maybe accepted while the input of a man is readily or instantly accepted. She attributes such behaviour to an unconscious gender bias. Ms Shroff asserts that there is a need to make a conscious effort to deal with such an unconscious gender bias as women tend to carry and apply the same bias too. “We in the profession who are senior enough, being women in our organisations, should make this conscious effort to see that younger women get the same and equal opportunity.” 

Gender Pay Gap

According to a report published in March 2017, ‘Indian Women in the Workplace: Problems and Challenges’ by Sampurnaa Dutta India ranks the lowest when it comes to Gender parity. On the whole, the report finds that the gender pay gap in India is 25.4 per cent. This means the median hourly wage for a woman is 25.4% less than the median hourly wage for a man. According to the report, some of the reasons behind the gender pay gap could be the preference for male employees over female employees, the preference for promotion of male employees to supervisory positions and career breaks of women due to parenthood duties and other socio-cultural factors.

(https://www.ijirmf.com/wp-content/uploads/2017/04/201703051.pdf)

The above-mentioned factors are the tip of the iceberg. They are on the mild end of the spectrum of violence against women. They are known to people, companies and to governments yet these difficulties still exist. As educated privileged people, it is our responsibility to take active measures to unlearn the gender bias we have been taught as children. As women who have made it to the workplace, it is all the more important for us to make sure that we make a safe place for other women who belong to underprivileged underrepresented groups. Only then will we truly be modern and only then we will succeed.

Frequently Asked Questions:

Some of the most common workplace challenges for women in India include gender bias, unequal career opportunities, work life balance pressures, limited access to leadership roles, and the gender pay gap. These challenges can impact career progression, job satisfaction, and long term professional growth.

Gender bias in the workplace can influence hiring decisions, promotions, performance evaluations, and leadership opportunities. In many organizations, women may have to work harder to gain the same recognition and career advancement opportunities as their male counterparts.

Many women face barriers such as unconscious bias, limited mentorship opportunities, family responsibilities, and societal expectations. These workplace barriers for women can make it more difficult to move into senior leadership and decision-making roles.

The gender pay gap refers to the difference in earnings between men and women performing similar work. Factors contributing to the gap include unequal opportunities, career breaks, occupational segregation, and bias in promotion and compensation decisions.

Organizations can create a more inclusive workplace by promoting equal opportunities, addressing gender bias, supporting flexible work arrangements, investing in leadership development, and ensuring fair pay practices. These initiatives help women succeed and advance in their careers.

Addressing workplace challenges for women helps organizations improve diversity, strengthen leadership pipelines, increase employee engagement, and attract top talent. Inclusive workplaces also benefit from broader perspectives, better decision-making, and improved business performance.

Women can strengthen their careers by building professional networks, seeking mentors, continuously developing new skills, advocating for their growth, and pursuing leadership opportunities. At the same time, organizations must create an environment where women have equal opportunities to succeed and lead.

View More right-arrowLoad More

Revolutionizing Leadership: A Synergistic Approach through Neuroscience, AI, and Design Thinking

Posted on by Mandar

In the rapidly evolving business landscape, where time is a precious commodity and tangible outcomes drive sustainable growth, organizations are increasingly focusing on enhancing productivity through process efficiencies and employee performance. This era of hyper-personalization demands that companies not only tailor their customer engagement strategies but also adopt a customized, employee-centric leadership approach.

The role of a manager is critical in ensuring that employees experience this hyper-personalized approach, making leadership and people practices pivotal for organizational success. By integrating cognitive neuroscience, machine learning & artificial intelligence, and design thinking, we can embark on a transformational journey to improve managerial effectiveness.

Cognitive Neuroscience

In today’s challenging economic climate, organizations frequently undertake change management programs to stay afloat. However, with a failure rate of 70%, it’s clear that traditional strategies often fall short. Cognitive neuroscience offers insights into the biological reasons behind this resistance to change. Change is perceived by the brain as a painful experience, akin to physical injury. This is because our brains are wired to follow established patterns to save energy and reduce uncertainty.

The traditional approach to change management, often reliant on incentives or threats, does not address the biological responses to change. A more effective strategy involves helping individuals understand and embrace change voluntarily, recognizing that people respond differently based on their levels of arousal and capacity for focus.

Machine Learning & Artificial Intelligence

As the understanding of neuroscience grows, its applications in artificial intelligence for workforce management and HR planning become more evident. AI enhances the accuracy of targeting the right customers and improving conversion rates through data analytics. Similarly, in leadership development, the authenticity and reliability of feedback and historical data play a crucial role. The challenge lies in personalizing development strategies to meet individual needs reliably.

Design Thinking

The redirection of organizational energy toward positive outcomes is essential. Leaders should focus on fostering a sense of purpose and co-creation to motivate and engage teams. By integrating data analytics from ML & AI with decision science, we can achieve a balance of empathy and efficiency. Design thinking ensures that projects not only meet business objectives but also align with user needs and sensibilities.

Introducing Great Manager Institute®: A Unified Value Proposition

Great Manager Institute® (GMI) represents a pioneering value proposition that interweaves cognitive neuroscience, ML & AI, and design thinking in the realm of people development. This approach promises to revolutionize leadership by providing a framework for understanding and leveraging the unique dynamics of human behavior, technological potential, and innovative problem-solving strategies.

Through GMI, we aim to create a seamless integration of these disciplines, ensuring that leadership development is not only personalized but also deeply rooted in an understanding of human cognition, enhanced by the precision of artificial intelligence, and guided by the principles of design thinking. This holistic approach paves the way for cultivating leaders who are equipped to navigate the complexities of the modern business environment, driving their teams toward excellence with empathy, insight, and innovation.

Biocon Biologics – A Case Study on Leadership Excellence Through the “Great Manager Program”

Posted on by Mandar

The Backstory

Imagine Biocon Biologics, a big player in the biopharma world, facing a bit of a puzzle. They’ve got this talented team of 76 managers overseeing a whopping 666 team members, and they’re thinking, “How do we make our management even better?” They wanted their managers to not just manage but to genuinely lead by nurturing talent, driving performance, and ensuring everyone feels valued and included. It’s like aiming to turn a good recipe into a great one by tweaking a few ingredients.

The Game Plan

So, they rolled out the “Great Manager Program.” Think of it as a masterclass designed specifically for their managers, focusing on making the workplace even more inclusive, supportive, and dynamic. They dug into their performance scores, identified areas for growth, and set up workshops that were as engaging as they were enlightening, covering everything from leadership to diversity. It wasn’t just about reading slides; it was about sparking real change.

The Transformation

BBL Case Study Graph

And guess what? It worked wonders. Team retention rates went up by 20% among those managed by the program’s graduates. Attrition rates dropped, and the vibe at work started shifting. Managers became more open and collaborative, and teams felt more engaged. It’s like when a sports team finds its rhythm and starts winning games they used to lose. Plus, the business side of things saw a boost too, with customer satisfaction on the rise.

Hearing It from the Ground

The feedback was heartening. Managers shared stories of how the program gave them new tools and perspectives to lead their teams more effectively. Team members felt more supported and valued, noting the positive changes in their work environment. It’s like getting rave reviews for a show you’ve put your heart and soul into.

Wrapping It Up

In essence, Biocon Biologics’ “Great Manager Program” showed how investing in leadership development can truly transform an organization. It wasn’t just about teaching managers to manage better; it was about inspiring them to lead with empathy, vision, and effectiveness. For other companies looking to make similar strides, the message is clear: focusing on your leaders can have a ripple effect, uplifting your entire organization.

So, there you have it—the journey of Biocon Biologics towards creating an even more inspiring place to work, proving that with the right focus and resources, leadership can indeed be the tide that lifts all boats.

The BFSI Story: The Team That Stays Together, Grows Together

Posted on by Mandar

How Managers Can Help Build Core Teams, Check Attrition

A team that stays together, grows together. A team that stays together, and is also led by a visionary manager, propels an organisation to newer heights — year after year. This is one lesson that the BFSI sector in India, perhaps, needs to internalise.

Leading private Indian banks have attrition rates of more than 30%

The BFSI space in India may be oozing confidence, but it’s also true that the sector is saddled with a huge problem (some would call it an existential problem, especially at entry levels). The attrition rate in private banks today is unusually high, with leading private banks reporting a turnover of over 30 per cent in FY23. The figure shoots up further to over 40 per cent at entry and junior levels. With around 35 per cent of attrition rate, frontline sales employee turnover rate in many private banks hovers around over the 55 per cent mark.

Industry experts say that many frontline roles, including housing loan sales and credit card sales, face particularly worrying rates of employee turnover.

It’s argued that employees, especially the younger lot, find “mushrooming opportunities” in NBFCs and the fintech sector “too attractive to resist”, and hence switch organisations frequently. New technologies, digitisation, competing salaries offered by other industries, and Gen Next aspirations are among other oft-quoted reasons for the unusually high attrition rates in private banks at junior levels. Industry experts also point to “lack of on-job training” and “poaching” as contributory factors.

But, this larger trend doesn’t augur well for the health of private banks and the BFSI space at all.

The phenomenon has caught the attention of no less than the RBI Governor himself. At a recent event, Governor Shaktikanta Das expressed concern over high attrition rates in private banks. He said there was a need to create and nurture “core teams” to address the problem. While the Governor was definitely concerned over high attrition rates in certain private banks, he stressed that the RBI had not suggested any measures to check the trend. Instead, the Governor added, it was up to the banks to deliberate upon the trend and create “core teams”, that would go on to create robust organisations reflecting healthier organisational cultures.

Training managers to build core teams

With a good Manager, a good team is created. Together they help build a great organisation. Instead of being guided more by short-term imperatives, such organisations then think long-term. There are many ways in which managers can create “core teams” and then nurture them towards long-term organisational goals. The ones who successfully steer such teams come to be regarded as “Effective People Managers” who go on to build iconic organisations.

Research conducted by the Great Manager Institute® highlighted several managerial characteristics that contribute to employee retention within an organization, particularly when managers exhibit these traits. The top five traits impacting organisational retention scores identified in the study were: “being respectful” at 13.5%; “expectation setting” at 11%; “inter-team collaboration” at 9.9%; “involvement in decisions” at 9% and “information sharing” at 7.9%.

Building core teams in BFSI graph

These also constitute the basic traits of “Effective Managers”. Managers with characteristics identified above can go a long way in creating, retaining and nurturing “core teams” – something that will help private banks and the larger BFSI sector to aspire for big goals and grow consistently.

The role of managers in building core teams for India's BFSI Sector

Maybe, then, it’s time the Manager stepped up his or her game. Maybe it’s time the banks asked the Managers to think long-term and work towards developing long-term in-house resources. Maybe it’s time Managers stressed building “core teams”.

A team that stays together, and is led by a hands-on Manager, leads to a purposeful organisation. Trust and stability, growth and prosperity, become buzzwords in such orgnaisations. Maybe the Managers at India’s leading private banks need to get back to drawing boards and work on blueprints where team building is top priority.

Many experts in organisational behavior and HR consultants who followed the unusually high attrition rates during the “The Great Resignation” in the wake of the Covid-19 pandemic came up with useful insights — which are relevant for India’s BFSI sector in the current context as well.

A 2021 Harvard Business Review paper by Ron Carucci “To retain employees, give them a sense of purpose and community” cited a McKinsey research report and said that the top two reasons why employees tend to leave were: 1) “they feel their work is not valued enough by the organisation (54 per cent)”; 2) “they lack a sense of belonging at work (51 per cent)”.

Carucci then advocated for “enhancing solidarity through ownership of policy”, and said that “instead of making career and professional development a separate experience,” there was a need to “build learning and advancement right into people’s roles”.

These policy prescriptions are, perhaps, relevant to India’s BFSI sector, too. Here, the Manager is uniquely placed to usher change, with building “core teams” as the first and most important starting point.

Managers must groom young teams into long term valuable resources

A June 2023 paper by Anand Chopra-McGowan in the Harvard Business Review talked about “5 ways companies are addressing skills gaps in their workforce”. The paper’s takeaways are significant for India’s BFSI Sector, too.

The paper talks about “the new digital apprenticeship”, “a fresh approach to tuition reimbursement”, “a shift to learning experience platforms”, “the democratisation of coaching”, and the rise of “cohort-based courses” as the new approaches to the companies are adopting to constantly upskill their workforce.

The learning and takeaway for the Indian BFSI sector? Traineeship or apprenticeship may be a great way to initiate a young talent into the organisation. It’s for the manager then to groom – and retain – the young team into a long-term valuable resource, over a period of time.

The Harvard paper talks about the “Learning Management Systems” being replaced by “Learning Experience Platforms”. Maybe, the BFSI managers can also toy with “experiential learning systems” for team members.

Good news - The average BFSI manager in India is rated highly by peers and team members.

To address the systemic ills being faced by the BFSI sector, and to build “core teams” as a long-term response to set things right, the community of managers in the BFSI sector will, thus, be keenly watched. What is reassuring, however, is that the average BFSI manager in India is rated highly by peers and team members. He or she has only to shift gears now. A survey carried out by the Great Managers Institute® found out that “56 per cent of the managers (in the sector) were perceived to be competent,” and that only “12.98 per cent of the managers were found to be inconsistent in 10 or more than 10 out of the total 21 behavioural traits studied”

BFSI Skill Gaps - Manager Strengths

The BFSI sector in India is today valued at over Rs 81 trillion. And, India is among the fastest growing fin-tech markets. If India has to keep up the momentum, private sector banks will have to lead from the front. The reset exercise, however, must necessarily begin with the Manager. It’s the Manager who will help build a “core team”. Together, they will help build a robust, stable organisation. Many such organisations, together, will help India’s BFSI sector live up to its true potential.

BFSIs biggest hurdle – Addressing the skill crisis of the sector

Posted on by Mandar

India is among the fastest growing fin-tech markets in the world today. This is one of many indicators often cited to point to “a robust BFSI sector in the country”. It is also argued, to cite another oft-quoted example, that “the banks are not saddled with stressed balance-sheets any longer”. The buzzing BFSI sector in India is today valued at over Rs 81 trillion.

Does that mean that all is well with the BFSI sector in the country?

Does a “golden future” really await the sector?

Experts would, perhaps, call for a caveat or two. They would argue, for instance, how private sector banks have a high attrition rate, especially at junior levels. To cite another example, the need for newer skills – and the need for their continuous upgradation – poses a constant challenge for managers and CEOs alike.

So, if India’s BFSI sector has to script a “golden future,” (the fin-tech industry should grow to $ 1 trillion by 2030, according to one estimate), its managers must lead from the front, they must lead by example, they must also be adept at “de-learning’ and “re-learning” — especially in the age of AI and disruptive technologies.

For the economy to grow at a healthy pace, corporates and businesses have a key role to play. To enable corporates to perform at their optimal, the managers must perform outstandingly (and consistently). Whether it’s about retaining teams or achieving targets, helping teams ace new skills, or the ability to stay ahead of the competition, promoters and employees alike look up to the managers. The Great Indian Manager, thus, must rise to the occasion.

Revamping Skills for the AI and Industry 4.0 Era

In the age of Industry 4.0, disruptive technologies, and AI, the skillsets undergo quick overhauls and upgrades.

The managers should always be on their toes and should have the ability to think on their feet. This is particularly true for India’s BFSI sector.

The sector needs its personnel to be masters in technology, regulatory expertise, risk management, financial expertise, and analytical skills — in addition to communications and interpersonal skills. A couple of years ago, a report made the case for the evolving skill sets and skilled employees in the BFSI sector.

The report, “Insight on BFSI sector: Skill gap report and in-demand job roles in BFSI sector” by the BFSI Sector Skill Council of India, outlined how the BFSI skill sets had changed or evolved in the age of AI, Blockchain, and disruptive technologies.

For “Banking,” the report argued that communications and interpersonal skills, people management skills, knowledge of products and benefits, financial modeling, tech know-how, and regulatory/legal knowledge would be much in demand.

For insurance, in addition to the soft skills, financial acumen, data structures and algorithms, problem-solving skills, and domain expertise would be valued, said the report. For fin-tech, apart from soft skills (common to all BFSI verticals), and domain expertise, quantitative skills, financial and accounting skills, and problem-solving skills would be prized, added the report.

The skill sets will continue to evolve for all times to come. If the sector has to far exceed the 7.74 percent rate of growth witnessed between 2012 and 2020, the managers will have to play a pivotal role — especially in helping colleagues keep pace with the evolving skillsets.

This is, however, easier said than done. It may not be easy, for instance, to allow many employees for “regular sabbaticals” for the upgradation of their skills. Online courses, on the other hand, may only have a limited role.

Behavioral traits of a great manager in the BFSI industry

A study by the Great Manager Institute® on how different managerial behaviours are rated, and how such behaviours help a manager become an “effective people manager”, offers important insights.

Among 18 common behavioural traits identified in the survey, the top five are — “being respectful”, “inter-team collaboration”, “expectation setting”, “care for individual” and the “tendency to involve colleagues in decision making”. Managers who exhibit these traits in abundance are considered “effective people managers” by team members and peers.

Leadership development and managerial capability development initiatives conducted by companies in the BFSI industry should focus more on the top 5 behavioral traits to enable their managers to become more effective.

Skill Gaps BFSI Managers Graph

Managers must groom young teams into long term valuable resources

A June 2023 paper by Anand Chopra-McGowan in the Harvard Business Review talked about “5 ways companies are addressing skills gaps in their workforce”. The paper’s takeaways are significant for India’s BFSI Sector, too.

The paper talks about “the new digital apprenticeship”, “a fresh approach to tuition reimbursement”, “a shift to learning experience platforms”, “the democratisation of coaching”, and the rise of “cohort-based courses” as the new approaches to the companies are adopting to constantly upskill their workforce.

The learning and takeaway for the Indian BFSI sector? Traineeship or apprenticeship may be a great way to initiate a young talent into the organisation. It’s for the manager then to groom – and retain – the young team into a long-term valuable resource, over a period of time.

The Harvard paper talks about the “Learning Management Systems” being replaced by “Learning Experience Platforms”. Maybe, the BFSI managers can also toy with “experiential learning systems” for team members.

Undoubtedly, it’s the great people managers who will help India’s BFSI sector bridge the talent gap.

When they work in tandem with L&D teams, a mechanism to study, survey, and identify the skill-sets needed, and expected to be required in the future, can become an integral part of the organisation’s culture. An agile organisation always tries to be ahead of time.

The Indian BFSI sector has come a long way in the last decade or so. Consider for instance how digital payments have revolutionised the sector. Consider, to cite another example, how India, today, has the world’s fourth-largest bank.

The task for the Indian BFSI managers, however, should not overwhelm them. To be sure, most of the managers of the sector are perceived to be competent and rated highly by peers. In a study by the Great Manager Institute® only “12.98 percent of the managers were found to be inconsistent in 10 or more than 10 of the total 21 behavioural traits studies”, while “56 percent of the managers were perceived to be competent”.

Tech and IT leaders never talk “long-term” For, the pace at which technology is evolving is mind-boggling. Consider for instance the impact that AI has had on economies and businesses.

For a tech-driven sector like BFSI, then, to project future projections is not without risks. It’s precisely for this reason why the manager’s role will become all the more important in steering change, in ensuring stability, and in delivering results. The Indian BFSI sector is destined to register impressive growth. The new skill-sets will be key to the future targets. It’s the Great Indian Manager who will ensure that whether it’s reskilling or upgrading, de-learning or relearning, the BFSI sector lives up to its inherent potential.

Success Story – SMFG India Credit Company Limited

Posted on by Mandar

The Challenge

In the dynamic financial landscape of India, retaining top-tier talent within the ranks of management has become a formidable challenge. During such uncertain times, a large NBFC company confronted a critical issue: attrition within its middle management was on the rise, diluting institutional knowledge and affecting the morale of the workforce. The company recognized that to sustain its competitive edge, it needed to bolster its leadership capabilities and create a nurturing environment that emphasized employee care and development.

Our Approach

The company partnered with us at Great Manager Institute® to tackle this issue. Together, we created a multifaceted strategy to develop a leadership development journey that delved into the underlying factors contributing to attrition and to develop a robust framework to enhance leadership skills across the board.

  1. Need Gap Analysis: The initiative began with a need-gap analysis, utilizing tools such as appreciative inquiries, immersion sessions, and 360-degree surveys to gain a deep understanding of the managers’ needs.
  2. Involving the Leadership Team: Ensuring that the leaders at the top were not just instructing but also participating. The top team engaged as coaches and mentors, fostering a culture of shared growth.
  3. Skill Building Workshops: These workshops were rolled out, with the end goal of equipping managers with the necessary tools and approaches for effective leadership.
  4. Rituals and Nudges: Managers were introduced to practical rituals aimed at strengthening different managerial capabilities
  5. Check-in sessions – Structured check-in sessions to ensure the rituals were being implemented in a timely manner.
  6. E-Learning Modules: Online content focusing on the ‘How’ of people management was assigned to the managers, based on their profile.
  7. Behavioral Change: The final component of the approach was an assessment of behavioral changes in managers and the subsequent impact on business operations.

Way Forward

Way Forward - Success Story of BFSI

Building on this success, the company has charted a strategic path forward:

  • Culture Change: The next set of managers from the same band will undergo the development journey, ensuring that the culture change permeates throughout the organization.
  • Sustenance and Consistency: For those managers who have been certified, a sustenance journey will be crafted to maintain consistency in leadership practices.
  • Leadership Alignment: A crucial step will be the alignment of the entire leadership team to the practices established in the development journey, creating a unified front in management.

In conclusion, the company has not only addressed its immediate challenge of controlling attrition but has also laid down a sustainable blueprint for nurturing and retaining leadership talent. Their partnership with Great Manager Institute® stands as a testament to the company’s commitment to its employees and its unyielding pursuit of excellence in leadership development.

No Rule Rules!

Posted on by Mandar

No rule, rules! Is it a modern-day work expectation?

Imagine a workplace where there are no rules and no set boundaries; you can come to work at any time, can take as many leaves as you want, no
permission to be taken for any travel and you don’t have to follow any mundane policies. The only condition is to perform and deliver what is required!

In line with this, Netflix’s HR approach came into the spotlight which primarily focuses on the aspects such as ‘freedom’ and ‘responsibility’ while letting go of the many mundane rules. At Netflix, Reed Hastings (co-founder, Netflix) set new standards which value people over processes, emphasize innovation over efficiency, and giving employees context, not controls. No rule, rules is the intriguing yet interesting philosophy behind one of the world’s most innovative, imaginative, and successful organizations today. Google, is another example of a highly successful organization that stresses on employee freedom to make them happier and make them stay for long.

How would you perceive such workplace to be? Would you aspire to build such workplace with ‘no rules’ or you would want at least some rules to guide your employees to tread on the right direction? What are some of the modern-day expectations of the employees from their workplace? Let’s reflect on this by considering some variables which may influence these questions. However, before that let’s understand the psychology behind No Rule Rules!

Psychology behind No Rule Rules

Human beings have certain universal psychological needs: to have autonomy and to exercise self-control are important ones to attain personal growth. Self-determination theory refers to person’s ability to make choices and manage their own life. Being self-determined means that you have greater control over things, and your life is not governed by others. However, each of these needs is frequently thwarted by traditional command-and-control managerial styles and rule-heavy, deeply monitored workplaces. Employees don’t feel enthused and motivated to try out new things and work with strict rules. They feel scared to commit mistakes and feel throttled by constant monitoring and guidelines. Therefore, it is important to create a liberating environment that nurtures these psychological needs, rather than stifling them. Such liberated workplaces boast of high level of engagement and intrinsic motivation among employees.

These psychological needs and employees’ work expectations are often shaped by various external as well as internal factors. Let’s take a quick look at these factors:

Factors Shaping Employees’ Expectations

  1. Demographic diversity: Shifting demographics, including an aging workforce and the rise of younger generations entering the workforce, contribute to changes in workplace expectations, needs, and work-life balance. It is estimated that by 2030, India will be home to 1 billion working-age adults which will mostly comprise of Millennials and Gen Z. As of 2021, India’s share of Millennials and Gen Z stood at 52%, much higher than the global average of 47%. Gen Z is one of the main drivers of change in today’s workplace. Defined as the generation of individuals born between 1997 and 2012 (who in 2023 are between the ages of 10 and 25 years), are growing up with smartphones and social media, are more vocal about their needs and knows ways to fulfil those needs. Radically different than Millennials, this generation has an entirely unique perspective on careers and life. They are setting new trends and emerging as influencers. Managing their expectations would be a challenging task going forward.
    Furthermore, Labor Force Participation Rate (LFPR) for females is also expected to grow. Nearly 49% of the total enrolment in higher education comprised of female students. With this rising trend, India should expect a much larger proportion of women’s participation in the workforce in the years to come. Apart from that, we also see a rise in the population of LGBTQ in the workplace and successfully managing this demographic diversity would be a priority for employers in the years to come.
  1. Technological Advancements: Rapid advancements in technology, such as artificial intelligence, automation, and digital platforms, continue to reshape the nature of work and expectations. These technologies will impact job roles, skills requirements, and the overall work environment.
  2. 3. Economic and regulatory environment: Economic trends, such as recessions or periods of growth, can impact job availability, compensation levels, and the overall stability of the job market. Similarly, changes in labor laws, workplace regulations, and government policies impact how employers structure work and related policies. Furthermore, any major event might bring a major shift in work expectations, like, the pandemic totally changed people’s perspectives towards work, life and mental health.
  3. Organizational Culture and leadership styles: The culture within an organization, including its values, norms, and leadership style, determine employee expectations. An open culture would let employees to be more vocal, transparent and innovative while closed culture will restrict employees’ expressions.
  4. Organizational Structure and policies: The structure of an organization, whether hierarchical or lean, influences expectations regarding reporting relationships, autonomy, growth and career paths. Company policies on issues such as work hours, remote work, and benefits contribute to shaping expectations about work arrangements.

Having looked at these factors, let’s take a quick look at what are some of the modern day expectations of the employees.

Modern-day Expectations from the Workplace

  1. Increased emphasis on Flexibility and Work-life balance: The pandemic era has been an eye opener for many and it is observed that people have become more aware of what they want from their work and life. They want to prioritize their health and time with family and value flexibility in terms of work hours and locations. Remote/hybrid work options and flexible schedules are commonplace now and employees want to work with organizations which offer these options to its employees. Also, with more women (working mothers) joining work, better crèche facility would be desirable. We have already seen phenomenal changes with respect to maternity and in some cases paternity leaves.

    Similarly, with employees spending extended time in the office, they expect additional recreational facilities like cafeteria, some indoor sports room, fitness facilities organized by the organization. Such expectations will continue to rule the workplace in the years to come.
  2. Respecting Inclusivity and Diversity: Employees would want to work with organizations which respect and promote Diversity and Inclusivity and value employees from different demographics, experiences, and perspectives. As discussed before, it is important to acknowledge the needs and outlook of different generation at the workplace. To facilitate this practice, it is important to connect with employees and roll out surveys to collect their opinions and suggestions and bring desired changes based on such surveys.
  3. Seeking Purpose and Meaning: Employees today desire work that aligns with personal values and contributes to a larger purpose.  Employees often seek meaning in their work which at times go beyond financial compensation. They seek opportunities for skill enhancement, training, and career growth within the organization. When such demands are not met, employees do not hesitate to quit their work.
  4. Health and well-being: There has been a growing focus on employee well-being, including mental health support, wellness programs, and initiatives that promote a healthy work environment. Employees today give utmost importance to their health and don’t want to be bound by any rule which puts a threat to their health and well-being.

What are the expectations from a manager?

Managerial effectiveness is one of the most important factors determining  employee engagement and retention in the organization. Employees invariably look up to their managers and carry certain expectations from them.

As per our research, 67% of manager attrition and retention is induced by managers!

Manager Induced Attrition and Retention

Here are 6 expectations team members have from their managers in the modern-day workplace

  • They want their managers to do away with their authoritarian approach and rather become more collaborative and participative, sharing their ideas and also seeking insights from others. 
  • Employees expect managers to not micromanage everything and rather provide them the sense of autonomy and ‘creative liberty’ to come up with innovative ideas and solutions.  
  • As people are becoming more aware of their mental health and well-being, they want to work with managers who are empathetic and emotionally intelligent and treat employees with respect. Working with a short-tempered boss can be a challenging and stressful experience which employees want to avoid at all costs. No wonders, bad managers are number 1 reason why employees quit their organization!
  • Employees expect managers to communicate clearly and transparently. This includes providing information about organizational goals and vision, expectations for individual performance, and how to go about it.
  • Employees expect and appreciate constructive feedback that helps them understand their strengths and areas for improvement. Recognition for achievements and contributions is valued.
  • Employees expect to understand their career paths within the organization. Managers are expected to provide guidance on potential career trajectories and offer fair and equal opportunities for advancement and skill development.

As the workplace is evolving and shifting from being traditional to modern; managers need to step up and become more effective. Our research on managerial effectiveness, which comprised responses from over 30000 employees reveals that managers who demonstrate behaviors such as recognizing their team’s contribution, being open to new ideas, guiding them, and treating them with respect are considered effective people managers. They are great at communicating job expectations and care for their employees.

Behaviours of effective people managers

Rules or ‘no rules’ debate will keep on happening but it is important to note that while some people thrive in less structured environments, others may prefer clear guidelines and structure. Overly-rigid workplaces with authoritative managers may result in employees’ getting disenchanted with their organization and eventually look for work elsewhere while more freedom may compromise performance standards. The need is to create a balance. The ideal balance however, depends on the nature of the work, the industry, and the leaders involved. For example, organizations high on creativity and innovation would be relatively less bound by rules whereas organizations in finance and security would certainly need rules and heavy monitoring. Employers may take a middle path and adapt their policies and practices to meet the evolving needs and expectations of their workforce.