Tag: Kincentric

Kincentric 2023 Research Reveals the Power of Consistency in Employee Experience

  • Employees are 5X more engaged when the work experience is consistent and cohesive across multiple elements. Yet only 42% of employees globally have a consistent experience. Therein lies a missed opportunity.

The latest research by Kincentric, a Spencer Stuart company focused on improving leadership impact by unlocking the power of people and teams, identifies a number of compelling business outcomes that can be achieved when organizations deliver a consistent and cohesive employee experience (EX) across the organization. The Global Employee Experience Trends 2023 Report reveals that employee engagement has plateaued over the last five years, and CEOs and CHROs must now shift their approach to EX if they want to accelerate business outcomes through their people.

The study, backed by extensive data from over nine million respondents across 2500 organizations, 162 countries and 62 industries, emphasizes the need for leaders to act on employee experience more holistically, with consistency of experience emerging as a key factor in driving business impact. In addition to consistency, which is achieved when multiple core experience elements create similar positive perceptions across employees, the report also outlines the importance of the alignment of EX to culture and business strategy, as well as endorsement by the C-suite. The data indicates that leading organizations are enjoying notable advantages in terms of employee engagement, retention, financial performance and customer satisfaction as a result of this groundbreaking new approach.

Key findings of the research include:
– Ratings of customer satisfaction and financial performance are over 2X higher when the work experience is consistent, yet almost one third (29%) of employees have a highly inconsistent experience, with significant negative impact on engagement and business outcomes.
– Employee engagement is 5.5X higher when EX is aligned to culture and strategy, yet only 36% of organizations have indicators that all three elements are truly aligned.
– Nearly half (49%) of employees feel their employers are failing to provide the employee experience they were promised.
– Senior leaders have 6X the impact on the consistency of EX compared to managers, demonstrating their critical role in bringing this to life.

In addition, Kincentric’s 2023 report indicates employees have increased expectations regarding their day-to-day work experience, and while employees have expressed more positivity around things such as long-term career aspirations and virtual work arrangements, there has been a decline in measures around inspirational leadership, organizational values and support and connection.

According to Jeff Jolton, Managing Director of Research and Insights at Kincentric, leaders looking to drive exceptional business results should focus on the transformative power of a consistent and cohesive EX, instead of solely measuring employee engagement as an outcome. “Organizations must take a fresh, holistic and highly intentional approach to drive greater consistency in their EX – which is not about providing the same experience for everyone, but instead, striving to ensure employees have the same positive perception of the work experience.” Jolton says. “The reality is that the majority of organizations globally are not providing the level of consistency required to translate EX into critical business outcomes and are missing a huge opportunity to unlock the full potential of their people and create competitive advantage.”

Click HERE to learn more or to review the study highlights and full research report. https://www.kincentric.com/insights/global-employee-experience-trends-2023

About Kincentric
Kincentric, a Spencer Stuart company, helps organizations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, we use data-driven insights to architect solutions that add value, enhance agility and increase organizational effectiveness. For more information, visit kincentric.com.

New Research from Kincentric Redefines Inclusion and Suggests Leaders Are Responsible for Creating a Culture of Inclusion in the Workplace

Despite professed commitments to create a more inclusive workplace, many organizations still struggle to gain traction, according to a new report by Kincentric, the part of global leadership advisory firm Spencer Stuart that is specifically focused on unlocking the power of people and teams to ignite change and achieve organizational success. Based on a survey of nearly 5000 employees across the globe, the research reveals the critical role leaders play to drive inclusion, with benefits ranging from better employee retention and engagement to improved team agility during challenging times.

According to Kincentric’s findings, there are four key elements required for inclusion in the workplace: people are valued, are enabled to use their voice, have decision-making influence and can contribute their best. However, in this latest research, 73% of employees report having experienced exclusion in the workplace, while only one in three employees say they work in a culture that powers inclusion – one that lifts everyone up and in which everyone is treated fairly, has equal opportunities and can speak up, be heard and respected.

Kincentric conducted the study to better define and understand the experiences that drive or derail inclusion and demonstrate its impact on overall business performance, and their full report shares several notable findings:
– Ultimately, inclusive cultures are created at the top. Leaders must walk the talk and model inclusive behaviors or risk their credibility. Nearly 1 out of 3 employees view senior leadership actions as performative or insincere when words are not backed up by action. Of those employees who question the sincerity of their leaders’ actions, only 3% report experiencing a culture of inclusion.

– In general, senior leaders often have a more favorable outlook on inclusion than employees. Senior leaders are having a more favorable day-to-day experience of inclusion (62%) than managers (48%) or employees (26%). This is causing a disconnect between leader’s perceptions and employee’s reality.

– Inclusion drives retention and engagement. Individuals at workplaces they describe as inclusive are twice as likely to stay with their organization and three times more likely to have a sense of belonging than those who don’t.

– Inclusion can maximize the potential of people and teams, creating better team dynamics and expanding skill sets across teams. Additionally, employees that report experiencing inclusion in the workplace are four times more equipped to navigate challenges and work collaboratively to find solutions in the face of conflicting opinions.

“Leaders can make or break an inclusive culture. Inclusion doesn’t just happen – Inclusion is leader-led and must be intentional,” says Dnika J. Travis, Ph.D., Director of Research and Insights at Kincentric, who led the research. “Creating a culture of inclusion is a business imperative. It ensures every employee is valued and able to fully contribute to the organization, delivering a number of advantages, including improvements in retention, engagement and team performance.”

Kincentric offers actionable advice to leaders looking to build a culture of inclusion:
– Take charge with an unwavering commitment: Inclusion must be embedded in everything you do, from the talent systems that drive consistency in your employee experience to words, behaviors and actions that reinforce a culture of inclusion that enables people to thrive. As a leader, you must be willing to talk about the difficult aspects of your culture and shift performance management processes to root out and address bias. It is also crucial that you put processes in place that deal with and eliminate any acts of exclusion and mistreatment you observe – don’t leave it to anyone else to tackle.

– Be willing to embrace discomfort. CEOs and senior leaders can achieve greater impact by not shying away from tough, unsurfaced, or polarizing aspects of an organization’s culture. As a leader, not acknowledging, validating, or truly understanding what is happening within your organization undermines your credibility and employees may perceive this as a lack of sincerity in your efforts. You must also have the courage to address your own non-inclusive behaviors while challenging others to do the same.

– Embrace failures and adopt the right mindset. Achieving inclusion requires a firm commitment to learning and refining your approach based on data, insights, and the experiences of the people you are seeking to include. You and your organization will make mistakes, but that doesn’t necessarily mean what you’re doing is not working; it’s what you do next that is most vital.

– Step back and take stock. Be honest with yourself. How have your assumptions around organizational cultural norms impacted your ability to lead inclusively? Have your actions affected your credibility, and are there any steps you need to take to redress this? You must hold yourself and everyone else in the organization accountable for building a true culture of inclusion – in which all employees are valued and can contribute their full potential.

Click here to review the report. https://www.kincentric.com/insights/inclusive-culture-study

About Kincentric
Kincentric, a Spencer Stuart company, helps organizations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, Kincentric uses data-driven insights to architect solutions that add value, enhance agility and increase organizational effectiveness. For more information, visit kincentric.com.

Kincentric Malaysia’s Best Employers demonstrate Organizational Agility and Commitment to Attract and Retain Talent

Clarity in Values and Purpose proves to be more effective in driving organizational transformation, engagement, and performance in a changing world

Kincentric, a Spencer Stuart Company, announces today their Best Employers for 2022. As part of its leading employer program, Kincentric measures and recognizes extraordinary employers who have demonstrated the keen ability to listen and address their employee’s evolving needs to drive higher talent retention and performance. Key factors that differentiated these Best Employers especially included their marked willingness and agility to encourage diverse ideas and implement them with speed, to ultimately enhance employee experience.

According to Ridhima Khanduja, Market Leader for Kincentric Malaysia, the country’s Best Employers for 2022 outperformed in four critical performance pillars that highlighted their strong purpose-driven culture and execution capability. This, in turn, has enabled them to be responsive and agile, maintain high levels of employee engagement, and foster a culture where employees stay and become brand advocates.

The Best Employers in Malaysia have excelled in four fundamental performance pillars, which included employee engagement (a 14-point increase to 83%), agility (a 12-point increase to 79%), engaging leadership (a 9-point increase to 77%), and talent focus (a 12-point increase to 77%), when compared to their average peers.

These outstanding performance indicators were evident in the following five (5) organizations, which were recognized as Kincentric Malaysia’s Best Employers:
a) Lotuss Stores (Malaysia) Sdn Bhd
b) McDonald’s Malaysia
c) PLUS Malaysia Berhad
d) Sunway Theme Parks; and
e) Tenaga Nasional Berhad

Ridhima said, “The business landscape and priorities have fundamentally shifted to become today’s Brittle-Anxious-Non-Linear-Incomprehensible (BANI) world, creating a unique set of challenges for employers and markets alike. Organizations, including our Best Employer companies, are under pressure to meet employees’ shifting expectations, and are going above and beyond to address these challenges head-on. Leading companies understand the need to adapt and redefine their talent strategy by building resilience, awareness and empathy, while leveraging on data to survive and thrive.”

“Malaysia’s employee engagement levels in H1 2022 have dipped below pre-COVID levels, from 70% in 2019 to 67%. Employee’s intent to stay in the organization has also experienced a similar pattern, dropping five (5) points from 64% in 2019 to 59% in the same period. The lower scores indicate that many organizations are trying something new – testing, learning and refining – while others are holding back in the hope that things will go back to ‘normal’. It is time to embrace change, and we are encouraged by the progress made by Malaysian employers,” Ridhima added.

Sunway Theme Parks had also received recognition as the ‘Best of the Best’ for its outstanding demonstration of organizational agility and manager capability in support of employee wellbeing and development. Despite existing market challenges that impacted the theme park industry, the organization emphasized its commitment to its people through various strategic measures such as their ‘Service Culture Program’ and cross-departmental trainings, which deepened Sunway’s corporate culture, and provided resilience and agility to respond to fluid business environments.

The ‘Best of the Best’ recognition was also awarded for Sunway Theme Parks’ ability to engage with employees across levels and age groups in a consistent manner – a challenging feat that most organizations struggle with. The concerted efforts to engage its employees by creating a culture of recognition and in providing clarity and opportunities for career growth had allowed Sunway Theme Parks to develop a multigenerational employee experience, which meets the unique expectations of its millennial employees.

Calvin Ho, Executive Director of Sunway Theme Parks said, “At Sunway Theme Parks, we believe that it is the people that build the business. Only when our leaders reflect upon their strengths and weaknesses, then we are able to understand our colleagues and improve upon the dynamics of a team. By doing so, our leaders become more adaptable, are able to exercise empathy and can better impact our business. The sharpest of blades are often forged in the strongest of fires.”

McDonald’s Malaysia and Tenaga Nasional Berhad (TNB) were also awarded with Special Recognitions for their outstanding commitments to Building Purposeful Talent and Transforming Culture, respectively. Over the years, and especially in 2022, both organizations had demonstrated a steadfast dedication to developing and strengthening their internal structures to support talent development, offer meaningful career direction and pathways, and create a working environment which fostered growth and success.

“Congratulations to all the Kincentric Malaysia’s Best Employers for their exceptional achievements in creating an engaging culture that prioritizes employees’ voices, value, and performance. Their dedication to promoting this culture through courageous organizational changes is truly admirable,” Ridhima concluded.

About Kincentric
Kincentric, a Spencer Stuart Company, helps organizations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, Kincentric uses data-driven insights to architect solutions that add value, enhance agility and increase organizational effectiveness. For more information, visit kincentric.com.

Image:
Chong Chye Neo, judge for Kincentric Malaysia’s 2022 Best Employer program; Tuan Haji Wahizan bin Abd Rahman, Chief People Officer of Tenaga Nasional Berhad; Dato’ Wahab Abu Bakar, judge for Kincentric Malaysia’s 2022 Best Employer program, Melanie Lim, Senior Director – Restaurant Solutions Group, Training, Learning & Development of McDonald’s Malaysia; Ridhima Khanduja, Market Leader for Kincentric Malaysia; Calvin Ho, Executive Director of Sunway Theme Parks; Datuk Zakaria Ahmad Zabidi, Chief Operating Officer of PLUS Malaysia Berhad; Puan Yasmin Mohd Ramzi, Head of People Strategy & Organizational Effectiveness, Tenaga Nasional Berhad; Alvin Low, Head of People of Lotuss Stores (Malaysia) Sdn Bhd; Dato’ Hamidah Naziadin, judge for Kincentric Malaysia’s 2022 Best Employer program. [L-R] ( https://acnnewswire.com/topimg/Low_Kincentric20230217.jpg )

Hong Kong 2021 Kincentric Best Employers DBS, Hilti Demonstrate Exceptionally High Levels of Agile Leadership and Employee Engagement

Demonstrating organizational agility, leadership transformation and a high level of employee engagement, DBS and Hilti have been named as 2021 Best Employers in Hong Kong, according to Kincentric’s premium assessment that identifies organisations who demonstrate outstanding people practices and workplace excellence.

Employee Engagement, Organisational Agility, Engaging Leadership and Talent Focus were the key attributes assessed. Kincentric identifies Best Employers that are in the Top Quartile and research shows that excelling across these four areas leads to better business results.

According to Kincentric’s insights, the Hong Kong’s Best Employers are 24%* stronger on Employee Engagement, 26%* better on Organisational Agility, 19%* committed on Engaging Leadership and 27%* focussed on Talent. This clearly demonstrates a high level of decisive and agile people centric business decisions that these organisations have had to take through the pandemic.

Stephen Hickey, Regional Leader for APAC at Kincentric said, “We are in the midst of a talent evolution that’s shaping the future of work. Kincentric’s Hong Kong Best Employers have demonstrated excellence in the workplace, by creating differentiated employee experiences and agile, inclusive cultures leading to stronger, more sustainable business results.”

According to Kincentric employee research data, only 5 in 10 employees feel their organization is attracting or retaining the people they need to achieve business goals; 11 percentage point declines in favourable perceptions of senior leaders demonstrating care and concern for employees; and only 55% of employees seeing strong career development opportunities for high performers.

Globally there is increased talent mobility, greater difficulty for organisations to attract and retain the talent they need, challenges in giving people the work / life balance they desire, and many leaders struggling to paint a clear vision for the future of their company that is inspiring, engaging and motivating. Given the present challenges around talent retention, employees who do not see good career opportunities and organization’s response to their well-being are four times more likely to leave.

The Kincentric Best Employers 2021 marks 21 years of the Best Employers program. The brand has evolved since starting as Hewitt Best Employers, becoming Aon Hewitt Best Employers to Aon Best Employers and since 2019 to Kincentric Best Employers.

* Indicates % higher than their peers

About Kincentric

Kincentric, a Spencer Stuart company, helps organisations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, we use data-driven insights to architect solutions that add value, enhance agility and increase organizational effectiveness. For more information, visit kincentric.com.

Organisational Agility, Leadership Transformation, Employee Engagement help DBS, Olam International to be Kincentric Regional Best Employers 2021 in APAC

DBS and Olam International Limited have been named as Regional Best Employers in 2021 for the Asia Pacific region, according to Kincentric’s premium assessment that identifies organisations who demonstrate outstanding people practices and workplace excellence.

DHL Express (Middle East), The Wawanesa Mutual Insurance Company and Intact Financial Corporation (North America) and Marriott Vacations Worldwide (Europe) are among the other regional Kincentric Best Employers, after getting recognized in multiple markets.

Among the Regional Best Employers in APAC, DBS has been recognised as a Best Employer across China, Hong Kong, Indonesia, Singapore, South Korea, Taiwan, Thailand, UK and USA. Olam International Limited has been identified as a Best Employer across Vietnam, Indonesia, Thailand and China.

Kincentric Best Employers assessment looks at organisational excellence across critical people factors – employee engagement, organisational agility, engaging leadership and talent focus – leveraging the most objective measure possible – employee opinion. It identifies firms that demonstrate excellence in the workplace, by creating differentiated employee experiences and agile, inclusive cultures leading to stronger, more sustainable business results.

Stephen Hickey, Regional Leader for APAC at Kincentric said, “We are in the midst of a talent evolution that’s shaping the future of work. Kincentric’s Regional Best Employers have worked towards achieving greater Employee Engagement, Organisational Agility, Talent Focus and Engaging Leadership. Research shows that they are differentiating through people practices, retaining key talent and leadership transformation.”

According to Kincentric employee research data, only 5 in 10 employees feel their organization is attracting or retaining the people they need to achieve business goals; 11 percentage point declines in favourable perceptions of senior leaders demonstrating care and concern for employees; and only 55% of employees seeing strong career development opportunities for high performers.

Globally there is increased talent mobility, greater difficulty for organisations to attract and retain the talent they need, challenges in giving people the work / life balance they desire, and many leaders struggling to paint a clear vision for the future of their company that is inspiring, engaging and motivating. Given the present challenges around talent retention, employees who do not see good career opportunities and organization’s response to their well-being are four times more likely to leave.

The Kincentric Best Employers 2021 marks 21 years of the Best Employers program. The brand has evolved since starting as Hewitt Best Employers, becoming Aon Hewitt Best Employers to Aon Best Employers and since 2019 to Kincentric Best Employers.

DBS, Woh Hup named Kincentric Best Employers in Singapore for 2021

DBS and Woh Hup (Private) Limited have emerged as Singapore’s Best Employers in 2021, according to Kincentric’s premium assessment that identifies organisations who demonstrate outstanding people practices and workplace excellence.

While DBS has been named Kincentric Best Employer for the sixth time in Singapore and across Asia Pacific, home-grown construction firm, Woh Hup (Private) Limited has been recognised for the first time. These two companies are particularly leading the way by creating engaging environments fostering organisational agility and building engaging leaders.

Companies were evaluated against four research-based elements that are key to accelerating success: Employee Engagement, Organisational Agility, Talent Focus and Engaging Leadership. Kincentric identifies Best Employers that are in the Top Quartile and research shows that excelling across these four areas leads to better business results. Across each of the four parameters, the difference between the Top Quartile and their peers was at least 10 percentage points or more.

Engaging Leadership, Agility & Talent Focus Trump

Engaging Leadership, Organisational Agility and Talent Focus feature as the key factors that have enabled Singapore’s Best Employers to do exceptionally well. According to Kincentric’s insights, these Top Quartile companies are 10%* stronger on Engaging Leadership scores, 12%* better on Organisational Agility and 11%* committed on Talent Focus. This clearly demonstrates decisive and agile people centric business decisions that organisations have had to take through the pandemic.

Andrew How, Market Leader, Kincentric Singapore, said, “The last two years have been like no other and this pandemic has significantly changed the nature of work. Kincentric Best Employers distinguish themselves based on how well they rise to these challenges and provide a first-class employee experience to their people along the way. The strength of their people practices is what positions Kincentric Best Employers to be able to meet the ever-changing nature of work and evolving employees’ aspirations.”

Special Recognition for Diversity, Equity & Inclusion (DE&I)

For the first time, Kincentric introduced a Special Recognition Award for Diversity, Equity & Inclusion best practices. DBS, Atkins Design Engineering Consultants Pte Ltd (a member of the SNC-Lavalin Group) and MSD International GmbH (Singapore Branch) have been recognised in this category for their development of diverse, equitable and inclusive work cultures, and have created a safe and inclusive space for their employees.

When evaluated, these organisations were found to have exemplified a robust and formal organisational approach towards DE&I, and were able to build an alignment between Employees, Managers and Leaders.

Special Recognition for Social Service Sector

To highlight the best people centric organisations in this sector, the Kincentric Best Employers 2021 assessment has provided a Special Recognition to:

AMP Singapore, Halogen Foundation (Singapore), Lutheran Community Care Services Ltd and TOUCH Community Services Ltd, for their contributions to the Social Service Sector this year. The assessment was based on a methodology to understand how well these firms engaged with their employees and demonstrated Best Employers’ attributes. To qualify, Employee Engagement scores had to be on par or higher than those belonging in the Top Quartile.

Trends from 2021 assessment

– The current pandemic has accelerated the megatrends of digitalisation and fundamentally
shifted how organisations work. The 2021 employee engagement data from Singapore validates that Top Quartile companies tend to fare better in Change Management (12%*) and their Senior Leadership have a much higher standing (17%*).
– In addressing more complex business issues arising from greater levels of ambiguity and uncertainty, Top Quartile companies put in place interventions to establish a better brand in the community (14%*), practical learning programs (13%*), create psychological safety for their employees (13%*), provide better workplace flexibility (12%*) and managers are effective at developing a positive team atmosphere (11%*).
– Kincentric has also found that Top Quartile companies do better in engaging the younger generations, notably the Geriatric Millennials (Age 35 to 44) (14%*) and Gen Z (12%*).
Kincentric’s global research has also shown that given the present challenges around talent retention, employees who do not see good career opportunities or agree with their organisation’s response to their well-being are four times more likely to leave.

Congratulating this year’s Kincentric Best Employers, Mr. Andrew How, said, “These are challenging times. Leading organisations have demonstrated agility to respond effectively to disruptions while being connected to the needs of their employees. Look around your organisation today and you’ll observe ways of working that are quite different to only a few years ago. This ability to stay agile to meet the demands of external customers and internal staff is a defining characteristic of Kincentric Best Employers.”

* Indicates % higher than their peers