When your employees wake up on Monday, do they face immediate dread, or do they anticipate the day with excitement? The answer holds the key to their sentiments about the workplace, considering that spending a significant portion of the week in an office with great work environment is vital for overall well-being. Employees have navigated various challenges in recent years, from virtual and hybrid work environments to the Great Resignation and economic uncertainties. Their yearning for a positive change is understandable, but the question remains: how can it be achieved? 

While discussions on employee development, diversity, and workplace satisfaction abound, each leader brings their unique perspectives and strategies to the table. Now, in 2024, it's time for substantial changes and new policies in the workplace. To explore these developments, People Matters got in an exclusive conversation with Manish Sinha, CHRO at Mahindra Finance, who shared plans for enhancing employee development, diversity, and workplace satisfaction in the year ahead.

Excerpts from the interview: 

What specific development programs or learning initiatives should be in place to upskill employees in 2024?  

In 2024, upskilling employees should focus on a combination of technical, soft, and adaptive skills to meet the evolving demands of the workforce. Here are some specific development programs and learning initiatives that organisations may consider implementing:

• Digital, Data Literacy, Artificial Intelligence and Machine Learning Training
• Behavioural- emotional intelligence, adaptability, critical thinking, and problem-solving. 

These skills are crucial for effective teamwork and leadership.

• Leadership and Management Training
• Innovation and Creativity Workshops
• DEI, ESG and Health & Wellness Sessions
• Industry Specific functional & Technical Training

Tailoring these initiatives to the specific needs and goals of the organisation will contribute to a more successful upskilling strategy in 2024. Additionally, incorporating technology-driven learning solutions and fostering a culture of continuous improvement will enhance the overall impact of these programs.

At Mahindra Finance, we are focussing on the above-mentioned areas through numerous learning interventions focussing on behavioural, technical, functional and leadership development programs along with focus on social leadership through in-person/VILT/digital channels.

What initiatives should be considered to establish mentorship or sponsorship programs to support underrepresented groups in the industry? 

In today’s era, it is essential to make inclusion one of the supporting pillars of a diverse workforce. To support underrepresented groups in the industry, it is critical to establish mentorship or sponsorship programs that focus on learning and development initiatives spanning an appropriate duration to enhance skills such as self-awareness, career resilience, conflict management, and influencing skills. The goal is to accelerate the career journeys and unleash the potential of individuals within the program.

Establishing an Affinity Group to foster positive change by enabling individuals to collaborate in driving their success, benefiting the community and the organisation. Create communication channels, such as groups on messaging platforms or employee engagement applications, to facilitate learning sharing and networking among members. There is also a need to assign a dedicated representative for each affinity group. We need to launch a Mentorship Program that is created in a structured mentorship initiative with the following objectives:

• Provide guidance, support, and mentorship to individuals for personal and professional growth.
• Instil specific behaviours or principles in mentees, reflecting these in their working styles.

Initiatives like these will collectively aim to create a supportive environment, foster valuable connections, and empower underrepresented groups in the industry. At Mahindra Finance, we have a dedicated ERG for women with location-based chapters wherein each D&I council representative mentors one of the chapters. We also have a special leadership development program for women- SheisonRise wherein each participant is assigned a mentor based on their learning needs.

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Can you suggest measures or programs to boost employee engagement and satisfaction in an organisation? 

To elevate employee engagement and satisfaction within the organisation, companies should institute a multifaceted approach. Few measures and programs that organisations can consider implementing:

1. Formal recognition programs to acknowledge and reward employees for their achievements and contributions.
2. Wellness initiatives that focus on physical and mental well-being. This can include fitness classes, mental health resources, and wellness challenges along with employee assistance program.
3. Hobby or Interest groups at the office can be a fantastic way to foster team building, boost employee morale, and create a more enjoyable workplace environment.
4. Team-building initiatives to strengthen relationship and camaraderie among team members. This can include off-site retreats, team-building workshops, and social events in large and small teams.
5. Initiatives to create an inclusive culture, such as diversity training, mentorship programs, and employee resource groups.
6. Flexible Benefits Packages that cater to different employee needs. This may include health and wellness benefits, flexible spending accounts, and other perks that enhance work-life balance.
7. Engaging employees in Corporate social responsibility (CSR) activities to help them find purpose and satisfaction in contributing to community initiatives or charitable projects.

By implementing a combination of these measures and programs, organisations can create a workplace culture that values and supports its employees, leading to increased engagement and satisfaction. Regularly reassessing and adapting these initiatives based on employee feedback and changing organisational needs is essential for long-term success.

How can leaders enhance diversity and inclusion, considering diversity challenges? 

Enhancing Diversity and Inclusion (D&I) in the workplace requires a multifaceted approach that involves leadership commitment, organisational policies, and cultural shifts. In 2024, leaders can address diversity challenges by implementing the following strategies:

1. Leadership Commitment: Demonstrate visible and unwavering commitment to diversity and inclusion. Leaders should communicate the importance of D&I, set the tone for inclusive behaviour, and hold themselves and others accountable for fostering a diverse and inclusive workplace. Leaders must recognise, point out and address microaggressions. Create an environment where employees feel empowered to speak up about and report instances of bias. We plan to utilise modern communication channels, such as Podcasts and Talk Series, to further contribute to creating awareness around diversity and inclusion.
2. Inclusivity Workshops & Awareness Programs to focus on unconscious bias, cultural competence, and effective communication across diverse teams. We promote the use of inclusive language in all communications and materials. We use Theatre based unconscious bias sensitisation sessions for our employees and leadership. We also celebrate Inclusion week in October to reiterate intentional inclusion at org level.
3. Data-Driven decisions and Accountability: Analyse demographic data, employee surveys, and other relevant metrics to assess the organisation's diversity and inclusion efforts. Tie diversity metrics to performance evaluations and recognise and reward leaders who actively contribute to creating an inclusive workplace. We have created dashboards and MIS which keep the senior leadership well informed.
4. Diverse Hiring Practices: Implement inclusive hiring practices to attract and retain a diverse workforce. This may involve revising job descriptions to be more inclusive, using diverse interview panels, and promoting diversity in recruitment strategies. Establish partnerships with educational institutions and organisations to create diverse talent pipelines. This can include internships, mentorship programs, and initiatives to support underrepresented groups in specific industries. We focus on second career and Hire Train Deploy model to increase gender diversity. We have focused hiring for Persons with Disability as well.
5. Inclusive Policies & Benefits: Review and update organizational policies to make them more equitable and inclusive. We have contemporary policies like Nanny allowance, air travel for all women, menstrual wellness, IVF support and maternity transition support.
6. Support Employee Resource Groups (ERGs) to enhance networking, mentorship, and a sense of community within the organisation. There is a dedicated ERG for women at Mahindra Finance. 

How should leaders plan for mentorship programs within an organisation to facilitate skill transfer among different generations or expertise levels? 

Leaders aiming to establish mentorship programs within an organisation to facilitate skill transfer across different generations or expertise levels should begin by setting clear objectives. Defining specific goals aligned with the overall organisational strategy ensures that the mentorship program is relevant and impactful. There is also a need to thoughtfully pairing mentors and mentees based on skill gaps, career goals, and expertise. Incorporating both formal and informal interactions to facilitate skill transfer through various channels and provide training and resources for mentors, along with tools to support the learning journey of mentees, contributes to the success of the program. 

There is a need for fostering open communication, leverage technology platforms, measure progress through key performance indicators, and encourage reverse mentoring for all. This contributes to a culture of continuous learning and development. Recognising and rewarding the participation of mentors and mentees further reinforces the value of skill transfer within the organisation. Through these strategies, leaders can create a mentorship program that not only bridges generational or expertise gaps but also fosters a culture of collaboration and ongoing skill development.

All our leadership development programs including Future Shapers, MALT, TLDP and Women Leaders Program have mentoring inbuilt in their learning framework. We have provided one on one as well as group mentoring in different programs depending on the need of the cohort. As a part of the young management trainee programs, we assign a mentor for the first year of a young employee.