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Things Matter And It Ends There!

By Minal D’Rozario and Mayur Milan, Directors

If you have been living under a rock or do not have access to social media, you may have missed the discussion on what matters and what does not. But the social commentary currently on, made us sit up and think about what truly matters at work?

As entrepreneurs it brought us to re-think; how we could have or may have missed the ‘small things’ during the pursuit of achieving the business goals and aligned it with overcoming responsibilities. The need for ‘conscious listening and observing’ as leaders has become a compelling trait as it matters to all connected. Having built a company from scratch, this episode gave us a sense of Deja vu and probed us to relive and evaluate our experiences and find out what truly matters at an organizational level.

Demonstration Matters: The current pandemic has made us realize that words with no demonstration of ‘things’ said to guide and inspire, become inconsequential. To bring a cultural change in organizations, as leaders if you are not playing a pivotal role of participation it does not translate to the people who are your most important brand advocates. From small lunch discussions to taking care of them after work and remembering things they like, these are all a small part of the grand vision, but they are so valuable.  

Acceptance Matters: Hardships in business scenarios take a toll on a lot of entrepreneurs. But if we as leaders do not accept the gaps and mistakes that we have committed, it creates a visible cultural gap which people would avoid being part of. It is human to make mistakes and it is also human to accept them. This does not imply to the leaders alone but applies to everyone in the organization. Acceptance should build great relationships, not bring upon judgments. 

Consistency Matters: We are running an engine towards a destination, and it needs regular fuel and a maintained path to get where it needs to reach. Organizational culture is much like that. It is not about the current needs, but the identification of core values and continuous evolution rather than what written in stone dictates. 

Freedom Matters: Yes, we all agree that failure is the biggest lesson. But more than that, the freedom to take risks and rise from some of those mistakes, should be ingrained in the overall culture. We aspire to build a team with entrepreneurial spirit and ownerships which is not possible with micromanagement and lack of personalization. More so, a suffocating environment where the freedom to demand ratio is skewed leads to a stressful and a toxic environment.

Bottom Line Matters: The correlation of money to culture is always debated with some discomfort. But the objectivity of business and the subjectivity of culture should co-relate on some common attributes as one without the other is possible, but the journey is much harder. A common understanding of this amongst all stakeholders, makes the equation work in some magical ways. 

Communication Matters: It is not a job done until it is communicated clearly and with a level of empathy and authenticity.   Bridging the message to actions is a stepwise process as it gets overwhelming for the receiver. The ability to assess the ‘intent’ and ‘impact’ makes it a good start in understanding the approach to convey a message. 

We surely did not use the word matters as much as we did now, in our journey of 9 years of the company’s cultural focus. Today, we are managing cultural engagement internally, and for some of our customers. If organizations are still oblivious to the areas which are unique to their cultural values and business vision, then they should start bracing themselves as ‘things do matter’ and it ends there.

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Why Values Are More Important Than Skills?

By Rishika Agrawal, Senior Associate-Culture

Our story is set in a large corporation, where our two protagonists worked one in hand. The first one had always been the top performer, acing any project they were assigned to. The other was our Average Joe who had been around for longer but was hardly in the limelight. Within the team, the Ace always brought out their top-notch skills and breezed through their task list. Our Average Joe, on the other hand, was a tad bit slower but always managed to finish their tasks on time. Both of them while in similar roles, reached the same goal eventually i.e, the accomplishment of tasks. However, there lay a stark difference between the two. 

This difference did not lie in their speed of completing tasks, but rather, in the way they approached their work during pressing times. 

One time when faced with an uncertain and unfortunate business period, the company was forced to reinvent their work style which was difficult to adapt to. In the absence of direct supervision, our Ace who was equipped with the best skillset, found themselves making excuses to get out of tricky situations. Technical glitches and network issues became more frequent, just to avoid the extra workload. 

In the meantime, our Average Joe who didn’t necessarily have the best of skills stuck to their value system. Guided by honesty, great work ethic, and hard work,our Joe continued working with the same dedication and vigour as before. 

Now here is an interesting question for you. Which of these two candidates is the real asset to the organization?

Values: The Game-Changer In A Workplace

Values form the behavioural core and the motivational force for an individual, making them the foremost criteria for business leaders to assess while recruiting candidates. Everyone wants to build a highly skilled team that comprises the right skills and values. 

A study from City of London Economic Research says that 98% of employees do not prefer working at a place that does not align to their value system. This is precisely why recruiters should give candidates a clear picture of how the organization’s values are in sync with their own.

Will The Ideal Candidate Please Stand Up?

For most recruitment professionals, finding an ideal candidate is nothing short of a far-fetched dream, but they try nevertheless. But what makes the candidate ideal? In the perfect world, an ideal candidate is one who strikes the perfect balance between the right culture-fit and the right skill-set. 

In the real world, these seemingly perfect candidates may exist on resumes. But apart from reflecting their competencies, do resumes really offer us the opportunity to assess the candidate’s personality? Recruiters thus have to take the risk and decide what is more important- culture or skills. 

Values Cannot Be Taught, They Are Inherent

According to a study, it was discovered that 86% of employees blame workplace failures for lack of collaboration and poor internal communication. The study also revealed that 97% of employees cite a lack of alignment within the teams as a critical challenge, which negatively influences the outcome of a project. Someone who lacks the functional skills can be trained, but how can one be trained to learn the foundation of life, i.e. values? It’s an important point to reflect on.

A Culture-Fit Candidate Is Good For The Business

A candidate with advanced skills won’t require much training. They can seamlessly jump right onto projects and deliver productive outcomes. On the other hand, a candidate who is attuned to the culture is more likely to be a good team player, produce stronger and high-quality work, and boost the organization’s morale. They would be the right investment an organization needs to achieve long-term success. 

If such people feel truly valued, they are more likely to become key additions to the overall organizational structure. With the right value-fit, employees will be more engaged with their work, approach it with confidence, and stay on for longer- ultimately resulting in reduced attrition rates. 

Don’t Just Talk Culture, Walk It As Well

Top performers mostly possess the functional skills which can definitely bring in short-term successes, but not long-term wins. Moreover, values can also be called as the bedrock of a high-performance culture. But more often than not, organizational values remain at the conceptual level and fail to be embodied, because organizations do not know how to objectively integrate these values at the operational level. Hence, the reinforcement of organizational values in all processes, especially the hiring process, will help distinguish oneself from other industry players.  

After the successful incorporation of these values in the organization’s system, recruiters then need to hire keeping the long term objective in mind, to ensure that the selected candidate is not a liability, but a true asset for the organization!  

 

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Little Deeper About Cones

By Mayank Khanna

Corona Immune strategies (Cone), named after the business environment created by COVID-19, is basically a package of new and innovative marketing strategies keeping human psychology in mind, to support business strategies in a Volatile-Uncertain-Complex-Ambiguous (VUCA) world. 

Businesses are affected by the lockdown: people are panicking because of layoffs and restrictions, economies have slumped, world recession seems around the corner and life seems at a standstill. Many businesses are finding it difficult to comprehend the steps to take in order to not fade into oblivion, because of the current market scenario.

Cones, the package of new and innovative ways to combat the rising volatility, can be the way ahead for marketing managers, in particular, and businesses, in general. The following Cone strategy can be adapted:

  • Content Marketing: A marketing approach for the creation of valuable, relevant, and consistent content to attract and retain the target audience.

Idea to implement

Create awareness, generate interest, establish emotional connect, or entice existing customers. The focus should lay on providing solutions to relevant pressing matters.

Example

No-contact delivery” and “Best Safety Standards” introduced by Swiggy to meet the safety concerns of its consumers. 

  • Colour Psychology: It states how colours play a role in the visibility, recognition, and perception of brands.

Idea to implement

Using colours that best suit the purpose. 

For instance, yellow is said to induce cheerfulness and happiness. Since social distancing has nurtured gloomy days using yellow can be refreshing and catchy for user attention.

Example

Zomato uses the colour red, as it is said to stimulate the appetite. Therefore, assisting in its food delivery business.

  • Conversions after Brand Equity: A Brand’s recall value, perception, and engagement should be of prime focus (exception being businesses that are in the essential goods and services industries). Focussing on conversion can result in negative brand perception. 

Example

Dominos partnering with ITC Foods for “Doorstep Zero contact delivery” of essential items in Bangalore can garner traction.

  • Social Media Marketing: It is the use of social media platforms and websites to promote a product or service.

Idea to implement

Every social media platform has its niche. Use content that best suits the platform: this increases organic engagement. 

Videos and blogs have a longer shelf life as compared to posts, as they are searchable, thus, making them evergreen.

In terms of paid-ads, interstitials and ad banners increases engagement. Geo-fencing and SEO through keyword research can be productive.

Also, the website and mobile application working on the User Interface (UI) and User Experience (UX) would provide a refreshing view.

  • Socially Responsible Marketing: This focuses on attracting consumers willing to make a positive impact with their purchases. The brand builds an emotional connection with the audience, which creates a positive brand perception and augments conversion rate.

Example

Marico claimed that the share value of Nihar Naturals in the east grew from 19.5 percent to 21.5 percent in January-October 2011 – the duration of the marketing campaign (wherein 2% of the sales proceeds would go towards student’s education) against a drop of 0.3 percent in the same period, the previous year.

Even though the above marketing strategies might help you in holding onto your spot; creativity, relatability, and intent to solve problems, always garners more traction. Thus, in such critical times, the agenda for marketeers should be to reach where their audience is, being sensitive, showing empathy and laying focus on consumer sentiments.

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