Marico's CHRO On How Is Talent Value Proposition Program Enabling Employees To Grow Beyond?
An effective employee value proposition usually supports recruiting and talent acquisition strategies and increase employee retention. While salaries and compensations are important but Talent Value Propositions go beyond and also provides opportunities to create an impact not just at the workplace but also shared value for stakeholders across the spectrum. To provide our members greater ownership of their learning and career, we will be providing them with a platform to visualize and enable their next career move in potentially any direction
The company believes that the aspirations of talent keep evolving with time, and it is essential for these aspirations to be aligned with the business and organisational goals. In an exclusive interaction with Amit Prakash, CHRO, Marico Limited highlighted that the new TVP aims at enabling our members to maximize their potential and empowering them to chart their own growth journey.
1. Are you as a company facing the challenge of retention? Do you think, the introduction of the latest talent value proposition will help retain the talent?
With changing times and business priorities, talent aspirations are also continuously evolving. The company strongly believes that business and talent aspirations go hand in hand. With this step, Marico aims to future-proof its talent proposition for its members. The company has identified three key focus pillars for the new TVP: GO BEYOND. GROW BEYOND. BE THE IMPACT. This defining statement encompasses what Marico stands for, what it offers, and what it admires.
For instance, we believe that for millennials, who represent the workforce of tomorrow, meaningful and purpose-led goals will act as catalyst to improve productivity, enhance engagement and provide job satisfaction. We observed that there is greater representation of younger minds in driving sustainability initiatives at Marico and they continue to exceed the level of participation and commitment expected from them. So, one of the main focal points of the new TVP, namely, Be The Impact, emphasises on the positive change and impact our members can create while working with Marico, and we will be instrumental in helping them achieving this.
Our TVP outlines the ambition for the Marico of tomorrow as well as the desire to make a difference by creating a lasting impact, while outlining its ethics and values as employers. Therefore, in my opinion, the aim of the new talent value proposition is to align organisational and member aspirations, thereby showing our members that we will work with them to build a better future for Marico and its stakeholders.
2. Are there any programs or initiatives that the company will run to build an entrepreneurial mindset in employees and take risks without the fear of failure?
Yes, we have created several programmes that foster the culture of diverse thinking and innovation at Marico. A signature initiative changemakers, Marico’s ideation platform, involves our members across Marico to collect future fit growth ideas – the initiative has yielded us several impactful ideas to win the future. Another such initiative, Marico Mentorship Program, which provides opportunity to our members in the Manager and Partner roles within Marico to mentor budding startups to scale up their operations. Additionally, our performance management and rewards system is specifically designed to encourage our members to embrace their entrepreneurial spirit and take calculated risks. Marico ‘Dare to Try’ award recognises members who led disruptive and innovative initiatives, even if they did not achieve expected potential but added to the organisation’s learning.
3. As per the new TVP, Marico wants to celebrate diversity at the workplace. How is the company planning to do that?
Marico’s business purpose, philosophy and vision are personified by its people. We believe that an environment where our members can be their best, personally, and professionally, will enhance productivity and innovation. We are committed to develop a more socially represented workforce with enhanced ‘Gender’, ‘Differently Abled’ and ‘Thought’ diversity. Furthermore, having a member base as diverse as our consumer base is a strong source of competitive leverage and stakeholder value creation for us. Towards our vision, we have created an Inclusion & Diversity council to accelerate Marico’s continuous endeavor to build a ‘diversity ready’, ‘diversity conscious’, futuristic and inclusive workplace. The council will oversee our global level policies and will include our leaders along with members with expertise in the area
To drive our Inclusion & Diversity agenda forward, we continue to align the larger ecosystem through enabling infrastructure and policies to ensure diverse talent funnelling across levels. We
actively engage with our members to listen to them and identify their diverse needs through Culture & Engagement Survey, focused group discussions with the specific diversity ‘cohorts’, one-on-one interactions with representative groups and organisation-wide workshops to craft targeted interventions.
4. The new TVP also talks about promoting individual growth and empowering employees at Marico. Are there any initiatives the company is planning to run to make this possible?
The new TVP aims at enabling our members to maximize their potential and empowering them to chart their own growth journey. With the new launch, we will be re-aligning roles, systems and processes, office infrastructure, and the Marico way of working to achieve it
We believe elements such as early responsibility and an environment where members are encouraged to bring their whole self to work can be truly empowering. The new TVP also provides our members with opportunities to create an impact not just at the workplace but also shared value for stakeholders across the spectrum. To provide our members greater ownership of their learning and career, we will be providing them with a platform to visualize and enable their next career move in potentially any direction. We are also strengthening our career-linked capability building programs to ensure that our members have future-forward skills, especially in the area of Digital, Leadership, and critical Functional capabilities.
5. How do you foresee, it’ll impact the workforce from a holistic point of view? Given that the TVP emphasises the impact members have, how is Marico looking to extend this experience?
Ensuring that we truly talk the talk, we have created a robust calendar of ‘Signature Experiences’ that add to the Talent Value Proposition, and to fill the gaps where our members aspire for more This began with the announcement of the #MaricoGreenFootprints initiative where, in order to celebrate the launch of our TVP and co-create a change, we have planted one tree on behalf of all our members in India and other geographies. So far, over 2400 trees have been planted in partnership with Grow Trees in India, Greensavers in Bangladesh and Shaghra in Egypt to begin with. These trees have been planted in tribal and cyclone-prone regions to protect and support communities residing in the area as well as enhance the forest coverage. Similarly, the experiences have been molded to add to every area of our TVP, thereby bringing the new TVP alive for our members
