CEO Theodore Krantz provides his thoughts on how companies can provide employees with great experiences.
In conversations with other leaders, a topic we have recently discussed is how we can turn The Great Resignation into Great Experiences.
Pivoting to great experiences starts with an obligation to serve employees. We are extremely passionate about our company, the future, cultural evolution and employees who make it happen. We are pioneering a balancing act between what’s in it for the employee and what ultimately drives performance.
While some companies give firm deadlines for returning to the office, we are doing something radical. We implemented an industry first: We call it the 90-Day Passport Program. This benefit allows you to live anywhere in the world for 90 days. As an example, check out our Global Premier Program Manager Amanda Ray’s experience in Rome. We are thrilled that other leaders have reached out about how to implement a similar program. This is at the heart of the balancing act between performance and personal reward. Essentially, we believe that both the employee and the company win in an environment built totally upon trust. We don’t care where you work or what your address is, we ultimately care about your impact.
By introducing this radical new value, we have already seen results on engagement, retention, a sense of purpose and personal pride. Our employee engagement is five points above benchmark and we enjoy overwhelming support for the company vision.
Any journey that requires material changes to the balance sheet, revising the thesis, a renewed sense of innovation and significant organizational restructuring, will encounter challenges and opportunities. Let me share a few ideas that are making an impact.
1. Clearly Defined Vision
Leadership requires plotting the course for the organization. It is also important that every employee understands how their role connects to the company vision. Employees want to be inspired and motivated for a greater cause. Every employee should understand the journey to execute on the company vision. We are the standard for mobile performance but not satisfied with this as the destination. We will be the first Unified Data AI company, orchestrating both consumer data and market data, to deliver winning outcomes across all digital channels. This is the blue ocean we will cross to build an iconic company.
Trust is the foundation for any relationship. We are proud that the freedom to work where and how you want has increased engagement. More of our employees are engaging, innovating and teaming across all functions to accelerate our growth and advance our vision. They bring it every day because their life is full of passion, authenticity and fulfillment.
Many companies have approached flexibility superficially or with bias. In reality, flexibility is more than encouraging (forcing) people to come into the office for some arbitrary days per month in hopes of returning to a world that no longer exists. The days of the physical office are over. Massive campuses crammed with cubicles and amenities are obsolete. What is an office really? Isn’t it ultimately a venue to gather for collaborative outcomes as a team? We no longer have offices! As a global market leader, we will have a Club for each Region - Americas, EMEA, APAC. Teams will also have an opportunity to gather at shared spaces, hotels and/or restaurants for spontaneous team collaboration as each business unit leader feels appropriate.
4. Consistent and Frequent Communication
We are committed to transparency and sharing as much as we can around strategic considerations and have open Q&A on any topic that an employee may introduce. We have at least one quarterly all hands meeting globally after every board meeting to openly share feedback and direction. We also encourage each business unit to meet monthly to align each organization to support the company’s goals.
Compensation is not the only way to motivate employees. Recognition plays a critical role to ensure a sense of belonging and purpose. Employees are leaving in record numbers because they may not feel appreciated, a sense of belonging and FOMO. The world was already moving to mobile first and now the pandemic has accelerated mobile as primary. Daily time spent in apps has reached record highs, averaging more than 5 hours a day in 3 countries. This means we are always on—connecting on the go whether we are working or playing. Work-life balance does not exist anymore. The lines have permanently blurred. The path to a fulfilled sense of purpose requires you to embrace life as it comes at you. Recognition should ultimately value impact to the organization and not how many hours you are in the office. Recognition is truly caring about your people and communicating why they are important.
Great experiences (whether personal or professional) are hybrid in the new reality. You have one life, one combined sense of purpose and fulfillment. Enjoy the ride.
October 25, 2021data.ai News